Charity registration number: 207417
Rotary Club of Horsham Benevolent Fund
Annual Report and Financial Statements for the Year Ended 30 June 2025
Rotary Club of Horsham Benevolent Fund
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 to 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 19 |
Rotary Club of Horsham Benevolent Fund
Reference and Administrative Details
Chair Ms Caroline Gould (Treasurer) Trustees Mr Andrew Edwards Ms Caroline Gould (Treasurer) Mr William Harmsworth Mr David Smith Mr Adrian Mellor Mr Chris Cooper Charity Registration Number 207417 Principal Office 11 Byron Close Horsham West Sussex RH12 5PA Independent Examiner SD Ritchie FCA Ritchie Phillips LLP Ground Floor South Suite Afon House Worthing Road Horsham West Sussex RH12 1TL Bankers HSBC Bank plc Horsham 6 West Street Horsham West Sussex RH12 1PE
Page 1
Rotary Club of Horsham Benevolent Fund
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 30 June 2025.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
Mr Andrew Edwards Ms Caroline Gould (Treasurer) Mr Bryan Scurfield (resigned 1 July 2025) Mr William Harmsworth Ms Jean Grainger (resigned 1 July 2025) Mr David Smith Mr Adrian Mellor (appointed 28 July 2025) Mr Chris Cooper (appointed 28 July 2025)
Mr Andrew Edwards was appointed president on 1 July 2023 and Chair to 1 July 2025.
Ms Caroline Gould was appointed as the Treasurer from 1 July 2023 and Chair from 1 July 2025.
Objectives and activities
Objects and aims
The objects of the Benevolent Fund are to receive donations and raise funds through collections and the organisation of local events and to apply these funds to or for the relief of the poor and needy living in the territorial area of the Rotary Club of Horsham, to support local young people and for the benefit of such other charitable institutions, societies and objects as the Trustees direct.
Public benefit
The trustees believe that the donations made and the support given to the range of local, national and international recipients as detailed in this report constitutes the proper provision of public benefit.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales and have referred to the Charity Commission's guidance when reviewing the charity's aims and objectives and in planning future activities.
Page 2
Rotary Club of Horsham Benevolent Fund
Trustees' Report (continued)
Achievements and performance
The Club continued to perform many of its normal activities and collections during the year with our main fundraisers of Christmas, Funday and Children in Need.
Throughout the year, we continued to support local people in short term need through our Making a Difference Fund, together with local youth organisations and young individuals, directly and through local charities and organisations.
In total, the Fund made grants and donations of £20,863 (2024: £20,260) during the year as set out in Note 6 to the financial statements. Of these, £7,492 (2024: £8,534) were to other local, national and international charities, with donations of between £125 and £3000 made to various charities during the year. These include Horsham District Council for play equipment, Horsham Matters, MacMillen Cancer Support, Children in Need, Turning Tides, Olive Tree Cancer Support and Community Transport.
As regards our investments, the Trustees agreed a sale of units to the value of £4,000 to cover our continued support of the Horsham and District community. At the year-end the value of our investments had fallen by a further £4,786. Dividends of £2,893 (2024: £2,941) were received from the fund during the year.
Financial review
Policy on reserves
It is the policy of the charity to maintain unrestricted reserves at a level that gives the trustees flexibility to give, if they so wish, an immediate donation in reponse to a particular event and some funds are retained in a bank no-notice deposit account for this purpose.
The reserves held by the charity at 30 Jun 2025 were £102,213 (2024: £109,977) comprising £30,702 (2024: £19,865) of unrestricted funds, £61,511 (2024: £80,112) of restricted funds and £10,000 (2024: £10,000) of endowment funds.
Structure, governance and management
Nature of governing document
The Benevolent Fund is a registered charity, number 207417 and is an unincorporated trust constituted under a Declaration of Trust dated 7 July 1959, as revised by a Declaration of Trust dated 22 August 2016. It is governed by a Governing Document dated 22 August 2016.
Page 3
Rotary Club of Horsham Benevolent Fund
Trustees' Report (continued)
Recruitment and appointment of trustees
The minimum number of trustees is four and the maximum number is twelve. At least two (currently four) of the trustees are members of the Rotary Club of Horsham, which is the local branch of Rotary International, and is governed by a Club Council chaired by the Club President. New trustees are appointed for a term of no more than three years by a resolution of the Club Council of the Rotary Club of Horsham (RCH), approved by the Club members in a duly constituted meeting. Trustees may be re-appointed at the end of their three year term by the same process.
Trustees include the current president, immediate past president, secretary and treasurer.
Various operational subcommittees, responsible for the day-to-day activities of RCH, make recommendations to the trustees for fundraising activities and for the donations and grants from the Fund.
Arrangements for setting key management personnel remuneration
All work is done by trustees on a voluntary basis and no fees are paid to trustees.
29/01/2026 The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr Andrew Edwards Trustee
......................................... Ms Caroline Gould (Treasurer) Chairman and trustee
Page 4
Rotary Club of Horsham Benevolent Fund
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper 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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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 corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
29/01/2026
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr Andrew Edwards Trustee
......................................... Ms Caroline Gould (Treasurer) Chairman and trustee
Page 5
Rotary Club of Horsham Benevolent Fund
Independent Examiner's Report to the trustees of Rotary Club of Horsham Benevolent Fund
I report to the trustees on my examination of the accounts of Rotary Club of Horsham Benevolent Fund for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity trustees of Rotary Club of Horsham Benevolent Fund you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Rotary Club of Horsham Benevolent Fund's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Rotary Club of Horsham Benevolent Fund as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
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 accounts to be reached.
...................................... SD Ritchie FCA Ritchie Phillips LLP
Ground Floor South Suite Afon House Worthing Road Horsham West Sussex RH12 1TL
29/01/2026
Date:.............................
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Rotary Club of Horsham Benevolent Fund
Statement of Financial Activities for the Year Ended 30 June 2025
| Note Income and Endowments from: Donations and legacies Other trading activities Investment income 4 Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income/(expenditure) Gross transfers between funds Other recognised gains and losses Unrealised gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted £ 5,464 20,207 54 25,725 (9,129) (4,863) (13,992) 11,733 (896) - 10,837 19,865 30,702 |
Restricted £ 2,724 - 2,893 5,617 (630) (19,698) (20,328) (14,711) 896 (4,786) (18,601) 80,112 61,511 |
Endowment £ - - - - - - - - - - - 10,000 10,000 |
Total 2025 £ 8,188 20,207 2,947 |
|---|---|---|---|---|
| 31,342 | ||||
| (9,759) (24,561) |
||||
| (34,320) | ||||
| (2,978) - (4,786) |
||||
| (7,764) 109,977 |
||||
| 102,213 |
The notes on pages 10 to 19 form an integral part of these financial statements. Page 7
Rotary Club of Horsham Benevolent Fund
Statement of Financial Activities for the Year Ended 30 June 2025 (continued)
Prior year figures:
| Note Income and Endowments from: Donations and legacies Other trading activities Investment income 4 Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income/(expenditure) Other recognised gains and losses Unrealised gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted £ 2,651 21,118 84 23,853 (7,814) (6,145) (13,959) 9,894 - 9,894 9,972 19,866 |
Restricted £ 1,058 - 2,941 3,999 (600) (15,223) (15,823) (11,824) 8,204 (3,620) 83,732 80,112 |
Endowment £ - - - - - - - - - - 10,000 10,000 |
Total 2024 £ 3,709 21,118 3,025 |
|---|---|---|---|---|
| 27,852 | ||||
| (8,414) (21,368) |
||||
| (29,782) | ||||
| (1,930) 8,204 |
||||
| 6,274 | ||||
| 103,704 | ||||
| 109,978 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 10 to 19 form an integral part of these financial statements. Page 8
Rotary Club of Horsham Benevolent Fund
(Registration number: 207417) Balance Sheet as at 30 June 2025
| Note Fixed assets Tangible assets 9 Investments 10 Current assets Debtors 11 Cash at bank and in hand 12 Creditors: Amounts falling due within one year 13 Net current assets Net assets Funds of the charity: Endowment funds Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2025 £ 288 99,538 99,826 11,091 6,247 17,338 (14,951) 2,387 102,213 10,000 61,511 30,702 102,213 |
2024 £ 433 108,325 |
|---|---|---|
| 108,758 | ||
| 9,983 8,986 |
||
| 18,969 (17,749) |
||
| 1,220 | ||
| 109,978 | ||
| 10,000 80,112 19,866 |
||
| 109,978 |
29/01/2026
The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr Andrew Edwards Trustee
......................................... Ms Caroline Gould (Treasurer) Chairman and trustee
The notes on pages 10 to 19 form an integral part of these financial statements. Page 9
Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Rotary Club of Horsham Benevolent Fund meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 10
Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Shed Over 5 years on a straight line basis
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Debtors
Debtors are recognised initially at the transaction price. A provision for the impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
Trade creditors
Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. There are a number of restricted fund as detailed in note 14 to the accounts.
The permanent endowment fund was transferred to the charity from the Horsham Sick and Poor Fund when that charity ceased to exist.
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Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
2 Income from donations and legacies
| Unrestricted funds General £ Donations and legacies; Donations from individuals 3,132 Gift aid reclaimed 2,332 5,464 3 Income from other trading activities Local fundraising and street collection income 4 Investment income Unrestricted funds General £ Other income from fixed asset investments - Other investment income 54 54 |
Restricted funds £ 2,695 29 2,724 Unrestricted funds General £ 20,207 20,207 Restricted funds £ 2,893 - 2,893 |
Total 2025 £ 5,827 2,361 8,188 Total funds £ 20,207 20,207 Total 2025 £ 2,893 54 2,947 |
Total 2024 £ 2,099 1,610 |
||
|---|---|---|---|---|---|
| 3,709 | |||||
| Total 2024 £ 21,118 21,118 Total 2024 £ 2,941 84 |
|||||
| 3,025 |
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Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
5 Expenditure on raising funds
a) Costs of trading activities
| Local fundraising and street collection Other direct costs of activities for generating funds |
Unrestricted funds General £ 8,530 599 9,129 |
Restricted funds £ 630 - 630 |
Total 2025 £ 9,160 599 9,759 |
Total 2024 £ 8,293 121 |
|---|---|---|---|---|
| 8,414 |
6 Expenditure on charitable activities
| Grant funding of activities: Local Community National International Making a Difference Youth |
Unrestricted funds General £ - 1,165 - - - 1,165 |
Restricted funds £ 4,070 2,257 - 10,071 3,300 19,698 |
Total 2025 £ 4,070 3,422 - 10,071 3,300 20,863 |
Total 2024 £ 5,594 1,940 1,000 9,023 2,703 20,260 |
|---|---|---|---|---|
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Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
| Analysis of charitable activity costs: Depreciation, amortisation and other similar costs Grant funding of activities Allocated support costs Governance costs Total for 2025 Total for 2024 |
Unrestricted funds General £ 144 1,165 434 3,120 4,863 6,145 |
Restricted funds £ - 19,698 - - 19,698 15,223 |
Total funds £ 144 20,863 434 3,120 |
|---|---|---|---|
| 24,561 | |||
| 21,368 |
Of the grants made during the year, £13,941 (2024: £10,860) were made to individuals.
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Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Independent examiner's remuneration
| Examination of the financial statements Other fees to examiners Examination-related assurance services 9 Tangible fixed assets Cost At 1 July 2024 At 30 June 2025 Depreciation At 1 July 2024 Charge for the year At 30 June 2025 Net book value At 30 June 2025 At 30 June 2024 |
2025 £ 1,272 1,848 Property, Plant and Equipment £ 721 |
2024 £ 685 |
||
|---|---|---|---|---|
| 995 | ||||
| Total £ 721 721 288 145 433 288 433 |
||||
| 721 | ||||
| 288 145 |
||||
| 433 | ||||
| 288 | ||||
| 433 |
Page 16
Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
10 Fixed asset investments
| 10 Fixed asset investments | ||||
|---|---|---|---|---|
| Other investments Other investments Cost or Valuation At 1 July 2024 Revaluation Disposals At 30 June 2025 Net book value At 30 June 2025 At 30 June 2024 |
2025 £ 99,538 Listed investments £ 108,325 (4,787) (4,000) 99,538 99,538 108,325 |
2024 £ 108,325 |
||
| Total £ 108,325 (4,787) (4,000) 99,538 99,538 108,325 |
The investments are held in funds adminisitered by CCLA Investment Management Limited and have been valued at mid market value.
11 Debtors
| Trade debtors Prepayments Other debtors |
2025 £ 310 5,094 5,687 11,091 |
2024 £ 195 6,210 3,578 |
|---|---|---|
| 9,983 |
Debtors include £57 (2024: £300) due from the Rotary Club of Horsham.
12 Cash and cash equivalents
Cash at bank
| 2025 £ 6,247 |
2024 £ 8,986 |
|---|---|
Page 17
Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
13 Creditors: amounts falling due within one year
| Trade creditors Other creditors Accruals Accruals include £NIL (2024:£1,000) in relation to grants payable. 14 Funds Balance at 1 July 2024 £ Incoming resources £ Unrestricted funds General General Funds 19,865 25,725 Restricted funds Set 4 Success 3,199 - Sick and Poor 77,580 2,893 Other (667) 2,724 Total restricted funds 80,112 5,617 Endowment funds Permanent Sick and Poor Fund 10,000 - Total funds 109,977 31,342 |
Resources expended £ (13,992) (600) (23,227) (1,287) (25,114) - (39,106) |
2025 £ 1,728 43 13,180 14,951 Transfers £ (896) - (4,397) 5,293 |
2024 £ 4,400 1,125 12,224 |
||
|---|---|---|---|---|---|
| 17,749 | |||||
| Balance at 30 June 2025 £ 30,702 2,599 52,849 6,063 |
|||||
| 896 | 61,511 | ||||
| - | 10,000 | ||||
| - | 102,213 |
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Rotary Club of Horsham Benevolent Fund
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
Restricted Fund
The Set 4 Success Fund was established to provide financial support to encourage young athletes in the Horsham area, in conjunction with the Sports Aid Foundation.
The Sick and Poor fund is used to provide support to individuals in the local community both directly through the Make a Difference programme, which gives financial aid to needy and deserving people in Horsham, and indirectly by supporting local charities (such as the Phoenix Stroke Club).
The Other restricted funds represent collections made for specific purposes which have yet to be expensed, including the President's fund.
Endowment Fund
The Sick and Poor Fund comprises the permanent endowment element of the funds transferred in from the Horsham Sick and Poor Fund in 2006.
Transfers between funds
The fund transfers relate to adjustments to correct posting errors made in prior years.
15 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted General £ 288 31,018 14,347 (14,951) 30,702 |
Restricted £ - 58,520 2,991 - 61,511 |
Endowment Permanent £ - 10,000 - - 10,000 |
Total funds £ 288 99,538 17,338 (14,951) |
|---|---|---|---|---|
| 102,213 |
16 Related party transactions
Donations from trustees have no conditions attached.
During the year the charity received donations of £1779 from the Rotary Club of Horsham of which 4 trustees are Council members. At the year end there was a balance of £57 (2024: £310) due from the Rotary Club of Horsham.
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