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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
1. accounting records were not kept in respect of Rotary Club of Horsham Benevolent Fund as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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:.............................
Page 6
## **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.
Page 11
## **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.
Page 12
## **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|
Page 13
## **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|
|---|---|---|---|---|
Page 14
## **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.
Page 15
## **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|
Page 18
## **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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