OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Charity registration number 1084619

YORK RACIAL EQUALITY NETWORK

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

YORK RACIAL EQUALITY NETWORK

CONTENTS

Page
Legal and administrative information 1
Trustees' report 2
Statement of trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Statement of financial position 7
Notes to the financial statements 8 - 13

YORK RACIAL EQUALITY NETWORK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees F Ring
M Verma
L Mayer
G Helliwell
D Mazloum
N Howarth-Pulleyn
I Timmins
P Boumpoulis
R Isaiah (Appointed 23 August 2021)
Charity number 1084619
Principal address Wharfedale
Tower Court
Oakdale Road
York
YO30 4XL
Independent examiner N Clemit ACA, FCCA
JWPCreers LLP
Chartered Accountants
Genesis 5
Church Lane
York
YO10 5DQ
Bankers The Co-operative Bank
1 Balloon Street
Manchester
M60 4EP

YORK RACIAL EQUALITY NETWORK

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019".

The legal and administrative information page forms part of this report.

Objectives and activities

All the reserves were transferred to the newly formed CIO on 1 April 2021.

The principal objects and activities of the charity are:

The promotion of racial harmony for the public benefit in York and the surrounding area (the area of benefit) by: -

a) working towards the elimination of discrimination on the grounds of race;

b) promoting knowledge, mutual understanding and good relations between different racial groups;

c) providing independent information, advice and non-financial support to individuals who are experiencing racial harassment, victimisation, discrimination or isolation;

d) promoting awareness of the needs of minority ethnic people in the area of benefit by developing links with appropriate voluntary, statutory agencies and by encouraging a multi-agency approach.

The trustees confirm that they have referred to the guidance contained in the Charity Commissioner’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

Achievements and performance

The charity ceased activity on 31 March 2021 and transfered all funds to the newly formed Charitable Incorporated Organisation York Racial Equality Network (CE026080).

Financial review

The charity transfered all funds to the new formed Chartable Incorporated Organisation York Racial Equality Network on 1 April 2021.

The analysis of net assets between funds note to the financial statements shows the assets and liabilities attributable to the various funds by type. The fund notes describe the various funds of the charity and summarises the year’s movement on each fund.

Reserves policy

Our reserves policy, in line with good financial practice, is to maintain a minimum reserve of six months running costs in case of sudden loss of income or planned, managed closure of the organisation.

Risk management

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a registered charity governed by its constitution adopted on 15 December 2000.

The trustees who hold regular meetings administer the charity.

The trustees' report was approved by the Board of Trustees.

G Helliwell

Trustee

24 October 2022

YORK RACIAL EQUALITY NETWORK

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

YORK RACIAL EQUALITY NETWORK

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YORK RACIAL EQUALITY NETWORK

I report to the trustees on my examination of the financial statements of York Racial Equality Network (the charity) for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

N Clemit ACA, FCCA

JWPCreers LLP Chartered Accountants Genesis 5 Church Lane York YO10 5DQ

Dated: 14 November 2022

YORK RACIAL EQUALITY NETWORK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

CURRENT FINANCIAL YEAR

Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general
designated
2022
2022
2022
2022
Notes
£
£
£
£
Income
Donations and legacies
3
-
-
-
-
Charitable activities
4
-
-
-
-
Investments
5
-
-
-
-
Total income
-
-
-
-
Expenditure
Charitable activities
6
-
-
-
-
Net income before transfers
-
-
-
-
Gross transfers between funds
-
-
-
-
Net income for the year/
Net incoming resources
-
-
-
-
Funds transfered to CIO
(11,190)
(8,000)
(11,586)
(30,776)
Net movement in funds
(11,190)
(8,000)
(11,586)
(30,776)
Fund balances at 1 April 2021
11,190
8,000
11,586
30,776
Fund balances at 31 March 2022
-
-
-
-		 Total
2021
£
50,718
139
44
50,901
42,383
8,518
-
8,518
-
8,518
22,258
30,776

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from discontinued activities.

All activities were transferred to the new formed CIO on 1 April 2021.

YORK RACIAL EQUALITY NETWORK

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

PRIOR FINANCIAL YEAR

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2021
2021
2021
Notes
£
£
£
Income
Donations and legacies
3
3,755
-
46,963
Charitable activities
4
139
-
-
Investments
5
44
-
-
Total income
3,938
-
46,963
Expenditure
Charitable activities
6
3,926
-
38,457
Net income before transfers
12
-
8,506
Gross transfers between funds
-
-
-
Net income for the year/
Net incoming resources
12
-
8,506
Net movement in funds
12
-
8,506
Fund balances at 1 April 2020
11,178
8,000
3,080
Fund balances at 31 March 2021
11,190
8,000
11,586		 Total
2021
£
50,718
139
44
50,901
42,383
8,518
-
8,518
8,518
22,258
30,776

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from discontinued activities.

All activities were transferred to the new formed CIO on 1 April 2021.

YORK RACIAL EQUALITY NETWORK

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2022

Notes
Fixed assets
Tangible assets
10
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
11
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
12
Unrestricted funds
Designated funds
13
General unrestricted funds		 2022
£
-
-
-
-		 £
-
-
-
-
-
-		 2021
£
29,714
(664)
8,000
11,190		 £
1,726
29,050
30,776
11,586
19,190
30,776

The financial statements were approved by the Trustees on 24 October 2022

G Helliwell

Trustee

YORK RACIAL EQUALITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

York Racial Equality Network is a charity registered with the Charity Commission for England and Wales..

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are monies set aside by the trustees for particular purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.3 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

1.4 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers and office equipment 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Tangible fixed assets costing more than £500 are capitalised.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

YORK RACIAL EQUALITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Rentals payable under operating leases are charged to the statement of financial activities on a time basis over the lease term.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Donations and gifts
Grants
Donations and gifts
Sundry
Grants receivable for core activities
Big Lottery
Two Ridings Community
People's Health Trust
Wharfdale Foundation		 Total
Unrestricted
Restricted
funds
funds
general
2022
2021
2021
£
£
£
-
3,755
-
-
-
46,963
-
3,755
46,963
-
3,755
-
-
3,755
-
-
-
30,614
-
-
10,000
-
-
4,249
-
-
2,100
-
-
46,963		 Total
2021
£
3,755
46,963
50,718
3,755
3,755
30,614
10,000
4,249
2,100
46,963

4 Charitable activities

Membership Membership
fees fees
2022 2021
£ £
Management fees - 139

YORK RACIAL EQUALITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Interest receivable
6
Charitable activities		 Total
Unrestricted
funds
general
2022
2021
£
£
-
44		 Total
Unrestricted
funds
general
2022
2021
£
£
-
44
Charitable Charitable
activities activities
2022 2021
£ £
Depreciation - 575
Freelance salaries - 25,208
Freelance, staff and volunteer expenses - 4,012
Rent, service charges and room hire - 6,642
Telephone - 641
Insurance - 718
Subscriptions - 35
Activities and events - 1,453
Advertising - 2,475
- 41,759
Share of governance costs (see note 7) - 624
- 42,383
Analysis by fund
Unrestricted funds - general - 3,926
Restricted funds - 38,457
- 42,383

7 Support costs

2022
Support costs
Governance
costs
£
£
Independent examiners fee
-
-
-
-
Analysed between
Charitable activities
-
-		 2021
2022 Support costs
Governance
costs
£
£
£
-
-
624
-
-
624
-
-
624		 2021
£
624
624
624

YORK RACIAL EQUALITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

There were no employees during the year.
10 Tangible fixed assets
Computers and office
equipment
£
At 1 April 2021 24,630
Transfer to CIO (24,630)
At 31 March 2022 -
At 1 April 2021 22,904
Transfer to CIO (22,904)
At 31 March 2022 -
Carrying amount
At 31 March 2022 -
At 31 March 2021 1,726

All assets were transfered to the new formed Charitable Incorporated Organisation on 1 April 2021.

11 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2022 2021
£ £
Accruals and deferred income - 664

YORK RACIAL EQUALITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Income Expenditure Transfers Balance at
1 April 2021 31 March
£ £ £ £ 2022
£
People's Health Trust Fund (124) - - 124 -
The Wharfedale Foundation 1,710 - - (1,710) -
TRCF - Step Change 10,000 - - (10,000) -
11,586 - - (11,586) -
Movement in funds
Balance at Income Expenditure Transfers Balance at
1 April 2020 31 March
£ £ £ £ 2021
£
Big Lottery Fund - 30,614 (30,614) - -
People's Health Trust Fund 3,080 4,249 (7,453) - (124)
The Wharfedale Foundation - 2,100 (390) - 1,710
TRCF - Step Change - 10,000 - - 10,000
3,080 46,963 (38,457) - 11,586

Big Lottery Fund

Grant period 1 October 2020 to 31 March 2021. For funding activities of York Racial Equality Network, specifically member engagement and friendship project activities.

People’s Health Trust Fund

The new National Peoples’ Health Trust Project, started in May 2019 which embraces cultural diversity and richness through userled events has proved to be a huge success with numbers exceeding expectations. The user-led events are amongst others aimed at reducing loneliness and isolation and providing volunteers opportunities. The project also provides weekly outreach services and opportunities for partnership work.

The Wharfedale Foundation

Grant period 1 October 2020 to 30 September 2021. Aims to carry our reach into the needs of York ME community and encourage volunteering.

TRCF - Step Change

Grant period 1 September 2020 to 31 August 2021. To develop the sustainability of the organisation and the trustee board, and increase membership participation.

YORK RACIAL EQUALITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

13 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at Transfers Balance at Transfers Balance at
1 April 2020 1 April 2021 31 March
£ £ £ £ 2022
£
Reserve Fund 8,000 - 8,000 (8,000) -
8,000 - 8,000 (8,000) -

This fund was designated for the charity’s reserves policy which is to maintain a minimum reserve of six months running costs in case of sudden loss of income or planned, managed closure of the organisation.

14 Analysis of net assets between funds

Unrestricted
Funds
Designated
Funds
Restricted
Funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
-
-
-
Current assets/(liabilities)
-
-
-
-
-
-
Unrestricted
Funds
Designated
Funds
Restricted
Funds
2021
2021
2021
£
£
£
Fund balances at 31 March 2021 are represented by:
Tangible assets
1,726
-
-
Current assets/(liabilities)
9,464
8,000
11,586
11,190
8,000
11,586		 Total
2022
£
-
-
-
Total
2021
£
1,726
29,050
30,776

15 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).