## **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||
1
**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.
2
**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.
3
## **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:
- 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;
- 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
4
## **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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those accounting records; or
- 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
5
## **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.
6
## **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
7
## **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)
8
## **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.
9
## **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
______|
|---|---|---|---|
|||||
10
## **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
______|
|---|---|---|
11
## **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
______|
|---|---|---|
12
## **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.
13
## **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
______|
14