## DRAFT
## **Wolverhampton Rotary Club Charitable Trust**
Report of the Trustees and Annual Accounts
Year Ended
30 June 2023
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|-|13|Notes to the financial statements|
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Trustees and advisors**
|**Trustees**|C Cox|(President)|
|---|---|---|
||L McCarthy|(President Elect)|
|||(Vice President)|
||J Hollinsworth|(Secretary)|
||D A Morgan|(Treasurer)|
|**Hon Secretary and**|||
|**principal address**|J Hollingsworth||
||Wheelwright Cottage||
||Aston Eyre||
||Bridgnorth||
||WV16 6XD||
|**Registered charity number**|220492||
|**Independent Examiner**|Mrs M Martin FCCA||
||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 2023**
## **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:
S Morgan (President) C Cox (President Elect) L McCarthy (Vice President) G J Peters (Secretary) D A 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 2023**
## **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 2023 saw the end to the Coronavirus lockdown and the Rotary Club of the City of Wolverhampton was able to continue its fund raising activities.It was a successful year particularly for the Dragon Boat Challenge which raised a grand total of £31,224 (2022-£20,823). The Tree of Remembrance raised £6,825 (2022-£5,996) ,but the Best Foot Forward event took place after the end of the financial year. Funds of £2,295 were raised for a specific project to build a new classroom for a school in Zambia , and £1,149 was raised for a 2k scheme. General donations also increased significantly to £8,233 (2022-£2,701) raised mainly from past and current members of the Rotary club towards world disasters which occurred during the year.
A total of £59,237 charitable donations were made in the year . £21,400 was from the JPB Legacy Fund (note 7) and the other donations of £27,734 from the Unrestricted Fund are detailed in note 9 . The donations were made both in the UK and overseas, particularly in respect of appeals for emergency disasters abroad , and also for the benefit of schools in Zambia and the Demcratic Republic of Congo.
## **Financial review**
The results for the year disclose a deficit of £12,966, of which £21,400 relates to the charitable donations made from the legacy of £30,000 received from the will of a Rotarian in the previous year, and £7,832 was the surplus of the income raised over the charitable donations distributed,and £602 was the unrealised surplus on the valuation of the investment. The detailed results are set out on pages 6 to 13.
## **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 2023**
## **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 November 2023 and signed on their behalf by:
**C Cox** President
4
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Independent examiners report for the year ended 30 June 2023**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2023, which are set out on pages 6 to 13.
## **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
3. the accounts do not comply with the applicable 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.
Mrs M Martin FCCA Hollingsworth & Co Limited Chartered Accountants Coppice House, Halesfield 7 Telford, TF7 4NA
November 2023
5
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Statement of Financial Activities for the year ended 30 June 2023**
|**Notes**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
**Income and endowments from:**
Donations and legacies
6
9,308
-
Charitable activities
6 – 7
25,453
10,103
Investments
805
-
________
______
**Total**
35,566
10,103
______
______
**Expenditure on:**
Charitable activities
7 & 9
27,734
31,503
______
______
**Total**
27,734
31,503
______
______
**Net income/(expenditure)**
7,832
(21,400)
______
______
**Other recognised gains/(losses):**
Gains/(losses) on investment
assets
602
-
______
______
**Net movement in year**
8,434
(21,400)
**Reconciliation of funds:**
Total funds brought forward
15,832
30,000
______
______
**Funds carried forward**
24,266
8,600|**Total**
**Funds**
**2023**
**£**
9,308
35,556
805
______
45,669
**______**
59,237
**______**
59,237
**______**
(13,568)
**______**
602
**______**
(12,966)
45,832
**______**
32,866|**Total**
**Funds**
**2022**
**£**
34,040
25,325
680
**______**
60,045
**______**
31,702
**______**
31,702
**______**
28,343
**______**
(1,218)
**______**
27,125
18,707
**______**
45,832|
|---|---|---|
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 13 form part of these financial statements.
6
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Statement of financial position as at 30 June 2023**
|**2023**
**Notes**
**£**
**Fixed asset investment**
COIF Charities Investment Fund income units
10
**Current assets**
Debtors
11
8,401
Bank accounts
29,613
**______**
38,014
**Current liabilities**
Creditors
12
23,446
**______**
**Net current assets/(liabilities)**
**The funds of the charity:**
General unrestricted fund
JPB Legacy Fund
13|**2022**
**£**
**£**
18,298
4,229
39,307
______
43,536
20,400
______
14,568
**______**
32,866
**______**
24,266
8,600
______
32,866|**£**
22,696
23,136
______
45,832|
|---|---|---|
|||______
15,832
30,000
______
45,832|
The notes on pages 8 to 13 form part of these financial statements.
## **The accounts were approved by the Trustees and authorised for issue on November 2023**
C Cox President
7
**WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
**Notes to the accounts for the year ended 30 June 2023**
## **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 (2022: Nil).
No reimbursement of expenses has been made to any of the trustees in respect of the year (2022: Nil).
## **5. Employees**
The charity had no employees during the year (2022: Nil)
8
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Notes to the accounts for the year ended 30 June 2023**
|**6.**
**Incoming resources from donations and charitable activities**
Donations:
General donations
Shoebox donations
End Polio Now
Fundraising events:
Dragon Boat Challenge (Note 8)
Tree of Remembrance
Best Foot Forward
200 Club surplus
Rollover Raffle
The 2k’s scheme
Zambian school projects|**2023**
**£**
8,233
1,075
-
______
9,308
**______**
13,382
6,825
-
965
837
1,149
2,295
______
25,453|**2022**
**£**
2,701
1,152
187
**______**
4,040
______
5,657
5,996
11,933
1,135
604
**-**
**-**
**______**
25,325|
|---|---|---|
## **7. Restricted funds**
During the year £10,103 (2022 -£5,015) was raised for specific charities nominated by dragon boat crews and paid out in accordance with their instructions. Donations of £21,400 (2022-nil) were made from the JPB Legacy Fund to eight charitable organisations in the Wolverhampton area.
9
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Notes to the accounts for the year ended 30 June 2023**
|**8.**
Dragon Boat Challenge
Sponsorship and Gift Aid
Other income
Expenses and restricted funds payments
**9.**
**Charitable activities**
**Foundation**
Rotary Foundation UK
End Polio Now
**International**
Emergency Disaster Appeal for Pakistan Floods
Turkey/ Syrian Earthquake disaster
Rotary Emergency Disaster appeals
Congo Children’s Trust re children’s homes
Jaipur Limb Project
New classroom , desks, medicine and food for school in Lusaka , Zambia
Palai Hospital
Lend with Care Scheme
Shoebox Scheme
Indian Water Management
Feeding Dreams , Cambodia
Aquabox –community filter|**2023**
**£**
25,923
5,301
(17,842)
______
13,382
______
**2023**
**£**
3,500
1,000
______
4,500
______
500
3,000
-
3,660
25
5,045
510
**-**
1,329
-
-
-
______
14,069|**2022**
**£**
18,510
2,313
(15,166)
______
5,657
______
**2022**
**£**
3,500
1,500
______
5,000
______
-
-
800
2,090
500
750
-
200
1,508
500
300
100
______
6,748|
|---|---|---|
10
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Notes to the accounts for the year ended 30 June 2023**
|**9.**
**Charitable activities (continued)**
**Youth Services:-**
Dictionaries 4 Life
Young Musicians concert
Wolverhampton Music School
RIBI Crocus Corms
Pine Green KidzOut
Uplands School bean bags and Tech challenge
Fair Trades school competition
Kingswood School
B4H bookcase for Low Hill School
Young Citizen award
Merridale Primary school
3rdPerton Brownies
**Community Services:-**
Small Grants Scheme
The Haven Wolverhampton
The Wolverhampton MS Therapy Centre
Compton Care hospice
Wolverhampton Coronary Aftercare Group
Sponsored Break
Katnat Diabled Medical Equipment
Fallings Park Methodist Church
West Midlands Air Ambulance
British Polio Fellowship
Rotary Billion Seed Challenge
Community Services
The Ukranian Refugee & Migrant Centre
The 2k scheme
Poppy Appeal
Sundry donations
**Total donations**|**2023**
**£**
-
(210)
300
-
576
544
50
750
400
200
-
-
______
2,610
______
-
1,700
1,700
1,700
-
-
300
-
-
-
-
(700)
500
1,149
50
156
______
6,555
______
**2023**
**£**
27,734|**2022**
**£**
(10)
(26)
10
282
250
-
-
-
-
-
95
300
______
901
______
2,550
5,450
1,500
1,500
3,750
1,000
-
1,146
300
300
18
700
839
-
-
______
19,053
______
**2022**
**£**
31,702|
|---|---|---|
11
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Notes to the accounts for the year ended 30 June 2023**
## **10. Fixed Asset Investment**
|**COIF Charities Investment Fund**
Valuation at 30 June 2022
Realisation
Increase (decrease) in value
Valuation at 30 June 2023
**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|**2023**
**£**
22,696
(5,000)
602
______
18,298
______
**2023**
**£**
7,654
747
______
8,401
______
**2023**
**£**
5,955
4,983
2,346
9,501
661
______
23,446|**2022**
**£**
23,914
-
(1,218)
______
22,696
______
**2022**
**£**
4,229
-
______
4,229
______
**2022**
**£**
9,900
5,688
2,151
2,000
661
______
20,400|
|---|---|---|
## **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.
12
## **WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST**
## **Notes to the accounts for the year ended 30 June 2023**
## **14. Analysis of net assets between funds**
|||**2023**||
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total Funds**|
||**Funds**|**Funds**||
||**£**|**£**|**£**|
|Investments|18,298|-|18,298|
|Current assets|29,414|8,600|38,014|
|Creditors|(23,446)|-|(23,446)|
||______|______|______|
|**Net assets**|24,266|8,600|32,866|
||______|______|______|
|||**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
______|
13