REGISTERED CHARITY NUMBER: 1202337
Report of the Trustees and
Unaudited Financial Statements for the Period 16 March 2023 to 31 March 2024
for
TOM FUREY MEMORIAL TRUST CIO
John Andrew Chartered Accountants 17-19 Market Street KIRKBY STEPHEN Cumbria CA17 4QS
TOM FUREY MEMORIAL TRUST CIO
Contents of the Financial Statements for the Period 16 March 2023 to 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 7 |
TOM FUREY MEMORIAL TRUST CIO
Report of the Trustees for the Period 16 March 2023 to 31 March 2024
The trustees present their report with the financial statements of the charity for the period 16 March 2023 to 31 March 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
General Charitable Purposes
The objective of the charity, which is constituted as a Charitable Incorporated Organisation (CIO), is in summary "The advancement of education and training, for the public benefit, in the skills necessary for safe walking and mountaineering, in particular but not exclusively through the provision of grants to those experiencing financial hardship to enable them to access training in walking and mountaineering that they could not otherwise afford."
The main charitable purpose of improving access to education and training relevant to safe mountaineering, hillwalking and climbing to the general public has been achieved by awarding of grants to people experiencing financial hardship to enable access to training courses or by facilitating subsidised workshops spaces.
Who the charity helps:
The General Public, specifically those experiencing financial difficulty, though through it's fundraising activity, the wider public also benefits.
How the charity helps:
Awards grant funding to individuals and spaces on workshop and courses which it facilitates.
Objectives and activities
The Trust aims to enable all to access the mountain environment safely. It recognises that not everybody is fortunate enough to have a background or family history of mountaineering experience, and equally that not all can afford to fund educational courses to bridge this knowledge gap. The core aim of the Trust to break down this barrier and make the outdoors accessible to all.
ACHIEVEMENT AND PERFORMANCE
The Charity's governance is based is conducted by the board of trustees.
In this first year of the Tom Furey Memorial Trust, creating a sustainable and functional charity was the priority. The trustees feel as though this has been achieved successfully, and they have also been able to complete a number of tasks which had been hoped for in the first year, including to deliver a Fundraising Festival, and award it's first set of grants to successful applicants.
FUTURE PLANS
To continue to deliver further Fundraising Festivals.
To continue to award at least one round of grant funding per year, ideally more, and ideally increasing in value. To improve the online presence of the Trust.
To cement operational and working practices and systems to allow the Trust to run more efficiently. To explore other avenues of fundraising.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1202337
Page 1
TOM FUREY MEMORIAL TRUST CIO
Report of the Trustees for the Period 16 March 2023 to 31 March 2024
Principal address 9 Tan-y-Bwlch Mynydd Llandegai Gwynedd LL57 4DX
Trustees
D Lane P Stollery B Williams T Carrick (appointed 18/4/23) Approved by order of the board of trustees on 21 January 2025 and signed on its behalf by:
D Lane - Trustee
Page 2
TOM FUREY MEMORIAL TRUST CIO
Statement of Financial Activities for the Period 16 March 2023 to 31 March 2024
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 18,584 | |
| Other trading activities | 2 | 3,053 |
| Other income | 1 | |
| Total | 21,638 | |
| EXPENDITURE ON | ||
| Raising funds | 3 | 2,408 |
| Charitable activities | ||
| Raising funds to provide courses and training for | ||
| people experiencing financial hardship | 2,950 | |
| Total | 5,358 | |
| NET INCOME | 16,280 | |
| TOTAL FUNDS CARRIED FORWARD | 16,280 |
The notes form part of these financial statements
Page 3
TOM FUREY MEMORIAL TRUST CIO
Balance Sheet 31 March 2024
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| CURRENT ASSETS | ||
| Cash at bank | 16,780 | |
| CREDITORS | ||
| Amounts falling due within one year | 5 | (500) |
| NET CURRENT ASSETS | 16,280 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 16,280 | |
| NET ASSETS | 16,280 | |
| FUNDS | 6 | |
| Unrestricted funds | 16,280 | |
| TOTAL FUNDS | 16,280 |
The financial statements were approved by the Board of Trustees and authorised for issue on 21 January 2025 and were signed on its behalf by:
D Lane - Trustee
The notes form part of these financial statements
Page 4
TOM FUREY MEMORIAL TRUST CIO
Notes to the Financial Statements for the Period 16 March 2023 to 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
Fundraising events
£ 3,053
Page 5
continued...
TOM FUREY MEMORIAL TRUST CIO
Notes to the Financial Statements - continued for the Period 16 March 2023 to 31 March 2024
3. RAISING FUNDS
| Raising donations and legacies | ||||
|---|---|---|---|---|
| £ | ||||
| Support costs | 2,408 | |||
| 4. | TRUSTEES' REMUNERATION AND BENEFITS | |||
| There were no trustees' remuneration or other benefits for the period ended 31 March | 2024. | |||
| Trustees' expenses | ||||
| £ | ||||
| Trustees' expenses | 61 | |||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| £ | ||||
| Other creditors | 500 | |||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| in funds | 31/3/24 | |||
| £ | £ | |||
| Unrestricted funds | ||||
| General fund | 16,280 | 16,280 | ||
| TOTAL FUNDS | 16,280 | 16,280 | ||
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 21,638 | (5,358) | 16,280 | |
| TOTAL FUNDS | 21,638 | (5,358) | 16,280 |
Page 6
continued...
TOM FUREY MEMORIAL TRUST CIO
Notes to the Financial Statements - continued for the Period 16 March 2023 to 31 March 2024
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 March 2024.
Page 7