Abergavenny Rotary Charitable Incorporated Organisation 

## **Registered Charity Number 1190919** 

## **Trustees Annual Report for the year ended 30[th] June 2025** 

## **Governing Document** 

The Abergavenny Rotary Charitable Incorporated Organisation (CIO) was founded on 18[th] August 2020 by the Rotary Club of Abergavenny. The objects of the CIO are: The relief of the poor and needy in Abergavenny and surrounding area, any other part of the United Kingdom or elsewhere in the world, or such other charitable purpose as members of the CIO shall in duly constituted meeting direct. 

## **Trustees** 

The trustees of the CIO are the President, the President Elect, the Secretary, and the Treasurer of the Rotary Club of Abergavenny. Their term of office is 1[st] July to 30[th] June the following year. The following were trustees for the year ended 30[th] June 2025. 

Keith Spencer, President Keith Willard, President Elect Robert Parker, Secretary 

Geoff Ball, Treasurer 

All members of the Rotary Club of Abergavenny are members of the CIO. 

## **Financial Results and Charitable Activities** 

A Financial Report and Income and Expenditure Account for the year ending September 2025 is attached to this report. 

The Annual Abergavenny Steam Rally is the CIO’s main source of funding. The CIO Trustees delegate the planning, organising and running of the Rally to a Committee which is chaired by the Rally Organiser who is a Rotarian and CIO member. The Steam Rally Committee is made up of CIO members and other volunteers. 

The CIO Trustees delegate decisions on charitable donations to the Club Council. The CIO Trustees, the Officers and Committee Chairs are members of the Council. There is delegation from Council to Charity Committees for donations of up to £1,000. Donations over this amount must be referred by the Charity Committees to the Council.  Most decisions on charitable donations are straightforward in nature but in 

Page **1** of **3** 



Abergavenny Rotary Charitable Incorporated Organisation 

the event of a contentious issue all members of the CIO have a say and vote in the final decision. 

The CIO Charity Committees are as follows: - 

a) Community and Vocational d) International b) Foundation e) Steam Rally c) Fundraising f) Youth 

## **ABERGAVENNY ROTARY CIO RESERVES POLICY** 

## **Introduction** 

The CIO is required by the Charities Commission to have a reserves policy to ensure it remains financially viable to be able to continue its charitable purposes. The CIO’s only major risk lies with its largest fund-raising activity, the Steam Rally. This policy describes the approach and level of reserves to be maintained. 

## **Exposure and Level of Reserve** 

At the CIO AGM on 4 March 2024, it was agreed to increase the previous level of reserve of £25,000 to £40,000 to take account of inflation and to mitigate the risk of either late cancellation of the rally or of very poor weather resulting in a washout and no gate receipts over the two days. In both cases significant expenditure will have been incurred with minimal income. 

The level of reserve is to be reviewed annually, and the advice of the Treasurer is that the current level of £40,000 is sufficient for the time being. 

The reserve is split as follows: c£30,000 held in the Monmouthshire Building Society where it will attract interest and the remainder of £10,000 “ring fenced” in the Lloyds CIO account as the “Steam Rally working capital line”. 

Page **2** of **3** 



Abergavenny Rotary Charitable Incorporated Organisation
51eam Ral
Fund rawe¥•rtS
92AJ7
OPEn￿￿•￿I Ckrobera)24
511Dekn)
OU.72
WalktheCar*l
ChdrE¥*rt
66￿95
4&636S6
Pre4dents1￿mY
Calendars
I2￿
I￿5.19
3151107
TO￿ Fw45QtJOSepteN*•rXJ15
147.63
Cornmuntythid V(thl(m•l
1Trt•m￿o￿
Yauth
Steam
Ukralne
Ik theQro1
En￿rnnMtrnt
Prethtscharfty
26150n)
4320A)
31￿.
44825.n
57Q(
OOW•t Wgrth*y>s•M ¥25
1483.26
IlrEwrts
L￿fi￿1[atOrS
831.oj
s3￿7
2801.55
othn
11)/JJr
Page3of3