Wolverhampton Rotary Club Charitable Trust
Report of the Trustees and Annual Accounts
Year Ended 30 June 2022
Registered Charity No. 220492
WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Contents
Page:
| 1 | Trustees and advisors | ||
|---|---|---|---|
| 2 | - | 4 | Report of the Trustees |
| 5 | Report of the independent examiner | ||
| 6 | Statement of financial activities | ||
| 7 | Statement of financial position | ||
| 8 | - | 14 | Notes to the financial statements |
WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Trustees and advisors
| Trustees | S Morgan | (President) |
|---|---|---|
| C Cox | (President Elect) | |
| L McCarthy | (Vice President) | |
| G J Peters | (Secretary) | |
| D A Morgan | (Treasurer) | |
| Hon Secretary and | ||
| principal address | G J Peters | |
| Wheelwright Cottage | ||
| Aston Eyre | ||
| Bridgnorth | ||
| WV16 6XD | ||
| Registered charity number | 220492 | |
| Independent Examiner | J Hollingsworth FCA | |
| Hollingsworth & Co Limited | ||
| Chartered Accountants | ||
| Coppice House | ||
| Halesfield 7 | ||
| Telford | ||
| TF7 4NA | ||
| Bankers | National Westminster Bank plc | |
| Queen Square | ||
| Wolverhampton | ||
| WV1 1TR |
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Report of the Trustees for the year ended 30 June 2022
History, objectives and activities of the Trust
The Charitable Trust was set up on 15 May 1959 to direct monies raised by the Rotary Club of the City of Wolverhampton to a variety of good works.
The objects of the Trust in accordance with the Trust Deed are to apply Trust Funds to the purposes of the relief of poverty and distress, and to the advancement of education. The trustees currently have a policy of supporting the objects of the Trust locally, nationally and internationally.
The Rotary Club of the City of Wolverhampton is a related party, which raises funds for the Trust to apply to its charitable objects.
Amounts raised since inception have been either distributed or where appropriate retained as capital. The Trustees have considered the amount of long term investments and uncommited funds needed to be retained to meet the objects of the Trust and in March 2019 decided that the amount of £20,000 is required.
The Trustees are assisted by the various committees of the Rotary Club of the City of Wolverhampton in identifying projects and organisations they wish to support.
Management and governance arrangements
The Trustees of the fund are those holding the offices of President, President Elect, Vice President, Secretary and Treasurer of the Rotary Club of the City of Wolverhampton. The Trustees and their posts during the year were as follows:
R Green (President) S Morgan (President Elect) C Cox (Vice President) G J Peters (Secretary) D Morgan (Treasurer)
The current Trustees are disclosed on page 1.
The Trustees annually review the risks that the charity faces. To date these have mainly related to the investments held and the Trustees have lessened the effect of such risks over the years by the realisation of parts of these investments into cash. It is the current intention that this practice will continue.
Procedures and policy for grant making
The Trustees meet half yearly to prepare budgets for anticipated funds and proposed grants. From this budget, the various committees of the Rotary Club of the City of Wolverhampton are allocated amounts which are within their ambit to grant to appropriate beneficiaries. The Trustees also make grants in accord with the objects of the Trust.
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Report of the Trustees for the year ended 30 June 2022
How the activities satisfy public benefit
In planning the activities for the year the Trustees kept in mind the Charity Commission‟s guidance on public benefit at their meetings.
The focus of the activities is to raise and distribute funds for the purposes of relieving poverty and distress, and for the advancement of education, both local, national and international.
Achievements and performance of the Trust
The year to 30 June 2022 continued to be affected by the Coronavirus pandemic and the resulting lockdown. Fund raising in the corporate sector and from the general public was harder to achieve.
Fortunately ,following the removal of the lockdown regulations the Trust was able to organise two of its major fundraisers , Best Foot Forward and the Dragon Boat Challenge , at the end of the year.The Tree of Remembrance continued to be organised at Xmas .and the 200 Club and Roll over raffle continued to be popular. Sadly, several members of the Rotary Club of the City of Wolverhampton passed away in the year and one member generously donated £30,000 to the Trust in his will, to be used for the benefit of local people and organisations.It is proposed to distribute this over the next two years.
A total of £31,702 charitable donations were made in the year as detailed on pages 10 to 14 .The donations were made both in the UK and overseas , particularly this year in respect of the Ukranian refugees. The Small Grant Scheme , which was started last year, continued to make grants to local organisations such as foodbanks, kitchens etc to provide food and support to individuals and families in these difficult times.
Financial review
The results for the year disclose a surplus of £27,125, of which £30,000 was the legacy from the will of a Rotarian and £1,657 was the excess of the charitable donations over the income raised ,and £1,218 was the unrealised deficit on the valuation of the investment. The detailed results are set out on pages 6 to 14.
Future plans
The Trustees intend to continue providing grants in a similar way to the recent past but, as funds primarily arise in the second half of the fiscal year, retain flexibility as to timing, and scale of grant making.
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Report of the Trustees for the year ended 30 June 2022
Trustees' responsibilities statement
The trustees are responsible for preparing the Trustees‟ Annual 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 & 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 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;
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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 operation.
The trustees are responsible for keeping adequate 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 trust deed 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 (FRS102) (Charities SORP (FRS 102)). 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.
Approved by the Trustees on 8 November 2022 and signed on their behalf by:
S Morgan President
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Independent examiners report for the year ended 30 June 2022
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2022, which are set out on pages 6 to 14.
Responsibilities and basis of report
As the charity‟s trustees 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 charity‟s accounts carried out under section 145 of the 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 competed 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 the charity as required by section 130 of the Act; or
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the accounts do not accord with those accounting records; or
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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.
J Hollingsworth FCA Hollingsworth & Co Limited Chartered Accountants Coppice House, Halesfield 7 Telford, TF7 4NA
30 November 2022
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Statement of Financial Activities for the year ended 30 June 2022
| Notes Unrestricted Funds Restricted Funds £ £ Income and endowments from: Donations and legacies 6 4,040 30,000 Charitable activities 6 – 7 20,310 5,015 Investments 680 - __ _ Total 25,030 35,015 Expenditure on: Charitable activities 7 & 9 26,687 5,015 Total 26,687 5,015 Net income/(expenditure) (1,657) 30,000 Other recognised gains/(losses): Gains/(losses) on investment assets (1,218) - Net movement in year (2,875) 30,000 Reconciliation of funds: Total funds brought forward 18,707 - Allocated from/(to) Centenary Fund - - Funds carried forward 15,832 30,000 ___ |
Total Funds 2022 £ 34,040 25,325 680 ______ 60,045 ______ 31,702 ______ 31,702 ______ 28,343 ______ (1,218) ______ 27,125 18,707 - ______ 45,832 ______ |
Total Funds 2021 £ 11,914 9,692 971 ______ 22,577 ______ 27,880 ______ 27,880 ______ (5,303) ______ 4,429 ______ (874) 14,581 5,000 ______ 18,707 ______ |
|---|---|---|
The net movement in resources arises solely from continuing activities. There were no recognised gains or losses in the year other than the net movement of resources shown above.
The notes on pages 8 to 14 form part of these financial statements.
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Statement of financial position as at 30 June 2022
| 2022 Notes £ Fixed asset investment 10 COIF Charities Investment Fund income units Current assets Debtors 11 4,229 Bank accounts 39,307 ______ 43,536 Current liabilities Creditors 12 20,400 ______ Net current assets/(liabilities) The funds of the charity: General unrestricted fund JPB Legacy Fund 13 |
2021 £ £ £ 22,696 23,914 ______ __ 22,696 23,914 1,166 11,603 _ 12,769 17,976 23,136 (5,207) ______ 45,832 18,707 ______ 15,832 18,707 30,000 - 45,832 18,707 ______ ___ |
|---|---|
The notes on pages 8 to 14 form part of these financial statements.
The accounts were approved by the Trustees and authorised for issue on 8 November 2022
S Morgan President
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Notes to the accounts for the year ended 30 June 2022
1. Accounting policies
Basis of preparation
These accounts have been prepared under the historical cost convention, as modified by the revaluation of fixed asset investments, and follow the recommendations in Accounting and Reporting by Charities; Statement of Recommended Practice issued applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS 102)) and the Charities Act 2011 and applicable resolutions.
Investments
Fixed asset investments are included in the accounts at the bid price at the balance sheet date. Unrealised gains and losses are taken to the appropriate funds in the statement of financial activities.
Incoming resources
Incoming resources are recognised on a receivable basis. Any income not received at the year end is included in debtors.
Donations payable
Donations are accounted for as and when they are approved by the trustees. Donations approved but not paid at the year end are included in creditors.
2. General information
The charity is a registered charity, registered in England and Wales and its principal address is Wheelwright Cottage, Aston Eyre, Bridgnorth, WV16 6XD
3. Statement of Compliance
The financial statements have been prepared in accordance with FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, the statement applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) and the Charities Act 2011.
4. Trustees remuneration and expenses
No remuneration was paid to any trustees during the year (2021: Nil).
No reimbursement of expenses has been made to any of the trustees in respect of the year (2021: Nil).
5. Employees
The charity had no employees during the year (2021: Nil)
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Notes to the accounts for the year ended 30 June 2022
| 6. Incoming resources from donations and charitable activities Donations: General donations Shoebox donations End Polio Now Fraser Dukes Legacy Fundraising events: 200 Club surplus Dragon Boat Challenge (Note 8) Tree of Remembrance Pudsey Bear Wolves Football Shirt Best Foot Forward Rollover Raffle |
2022 £ 2,701 1,152 187 - __ 4,040 _ 1,135 5,657 5,996 - - 11,933 604 25,325 ___ |
2021 £ 6,098 816 - 5,000 ______ 11,914 ______ 1,195 30 4,675 900 1,153 - 1,739 ______ 9,692 ______ |
|---|---|---|
7. Restricted funds
During the year £5,015 (2021 -nil) was raised for specific charities nominated by dragon boat crews and paid out in accordance with their instructions.
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Notes to the accounts for the year ended 30 June 2022
| 8. Dragon Boat Challenge Sponsorship and Gift Aid Other income Expenses and restricted funds payments 9. Charitable activities Best Foot Forward, Tree of Remembrance, President’s, special and other Donations Rotary Emergency Disaster Appeals Wolverhampton MS Therapy Centre The Haven, Wolverhampton Compton Care The Ukranian Refugee & Migrant Centre Wolverhampton Coronary Aftercare Support Group Speaker Donations Shoeboxes Fraser Dukes Legacy Fund Wolverhampton Samaritans Children in Need Every Family Counts-Xmas appeal Rainforest Trust UK |
2022 £ 18,510 2,313 (15,166) __ 5,657 _ 2022 £ 800 1,500 5,250 1,500 310 3,750 - 1,148 - - - - - ______ 14,258 ___ |
2021 £ 30 - - __ 30 _ 2021 £ - 3,339 1,150 1,150 - - 150 814 2,311 1,153 900 250 500 11,717 ___ |
|
|---|---|---|---|
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Notes to the accounts for the year ended 30 June 2022
| 9. Charitable activities (continued) Youth and Community Services Committee Youth Services:- Engineering Student of the Year Dictionaries 4 Life Young Musicians Wolverhampton Music School RIBI Crocus Corms KidzOut toys Community Services:- Small Grants Scheme The Haven Wolverhampton Merridale Primary School 3rd Perton Brownies Sponsored Breaks Fallings Park Methodist Church West Midlands Air Ambulance British Polio Fellowship Rotary Billion Seed Challenge Community Services The Ukranian Refugee & Migrant Centre Cradle Wolverhampton Community Radio St Michaels Church |
2022 £ - (10) (26) 10 282 250 __ 506 _ 2,550 200 95 300 1,000 1,146 300 300 18 700 529 7,138 ___ |
2021 £ (250) (15) - 300 - 200 __ 235 _ 6,261 100 - - - - - - - - - 200 700 100 7,361 ___ |
|---|---|---|
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Notes to the accounts for the year ended 30 June 2022
| 9. Charitable activities (continued) International Committee Kanyama Free Baptist Church School, Zambia Jaipur Limb project Lend with Care Shoebox Scheme Congo Children‟s Trust Indian Water Management Feeding Dreams Cambodia Aquabox – community Filter Kolhapur Midtown Project cancelled Oxygen Concentrator and BiPap machines for Covid in India Breakthrough Worship Centre School ,Zambia Kimbilio Foodkind Foundation Committee Rotary Foundation End Polio Now Total Donations |
2022 £ 750 500 200 360 2,090 500 300 100 - - - - - __ 4,800 _ 3,500 1,500 5,000 31,702 ___ |
2021 £ 510 588 200 360 111 - 300 - (620) 1,513 1,105 750 50 __ 4,867 _ 2,700 1,000 3,700 27,880 ___ |
|---|---|---|
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Notes to the accounts for the year ended 30 June 2022
| 10. Fixed Asset Investment COIF Charities Investment Fund Valuation at 30 June 2021 Increase (decrease) in value Valuation at 30 June 2022 11. Debtors General debtors Prepayments All amounts shown under debtors fall due for payment within one year. 12. Creditors: amounts falling due within one year Donations approved but not yet paid Dragon Boat Challenge creditors General creditors Amounts received for future events Designated Funds |
2022 £ 23,914 (1,218) __ 22,696 _ 2022 £ 4,229 - 4,229 2022 £ 9,900 5,688 2,151 2,000 661 20,400 ___ |
2021 £ 20,823 3,091 __ 23,914 _ 2021 £ 305 861 1,166 2021 £ 7,026 2,050 528 5,650 2,722 17,976 ___ |
|---|---|---|
13. JPB Legacy Fund
The Trust received a legacy of £30,000 from the will of a Rotarian and it will be used for the benefit of people and organisations in the Wolverhampton area.
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WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST
Notes to the accounts for the year ended 30 June 2022
14. Analysis of net assets between funds
| 2022 | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | ||
| £ | £ | £ | |
| Investments | 22,696 | - | 22,696 |
| Current assets | 13,536 | 30,000 | 43,536 |
| Creditors | (20,400) | - | (20,400) |
| ______ | ______ | ______ | |
| Net assets | 15,832 | 30,000 | 45,832 |
| ______ | ______ | ______ | |
| 2021 | |||
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | ||
| £ | £ | £ | |
| Investments | 23,914 | - | 23,914 |
| Current assets | 12,769 | - | 12,769 |
| Creditors | (17,976) | - | (17,976) |
| ______ | ______ | ______ | |
| Net assets | 18,707 ______ |
- ______ |
18,707 ______ |
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