Wolverhampton Rotary Club Charitable Trust Report of the Trustecs and Annual Accounts Year Ended 30 June 2024 Registered Charity No. 220492
. WOLVERHAMFI'ON ROTARY CLUB CHARITABLE TRUST Cont¢nts TnLStees and advisoTS Report of the Trustees Report of the independent examiner Statement of financial activities Statement of fiuan¢ial position 8- 13 Noles to the financial statemenls
., WOLVERHAMiryON ROTARY CLUB CHARITABLE TRUST Tru$tses and advisors TStee& L Mccarthy (President) J Hollingsworth{President Elect) S Woods (Vice Pr¢sident) J Hollingswortb(Secretary) D A Morgan (Treasurer) Hon Secretary aDd principal address J Hollingswortb 45 Church Road Albrighton Wolverhampton WV7 3LH Registered ch*rlty number 220492 Independent Examiner Mrs M Martin FCCA HolliDgsworth & Co Limited Chartered Accountants Coppi¢e House Halesfi¢ld 7 Telford TF7 4NA Bankers National Westminster Bank ple Queen Square Wolverhanwton Wvi ITR
WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST Report of the Trnstees for the year ended 30 Jwie 2024 Hlstory? obje¢tives ¢dvlde5 of the Trust The chitable Trust was set up on 15 May 1959 to direct monies raised by the Rotary Club of the City of Wolverlwnpton to a variety of good works. The objects of the Tnt in ac¢ordance with the TnTSt Deed are to apply Trust Funds to tbe puryy)ses of the relief of poverty and distress. and to the advancement of educatlOD. The InteeS currently have a policy of supp)rting the objects of the Trnst locally. nationally and internatiottally. The Rotary Club of the City of WolverhnP¢0n 18 a relad p&ty, which raises funds for the Trust to apply to its charitabl¢ objects. Amounts rnised since inception have been either distributed or where appropriate retained &8 capital. The TnLSte¢s have ¢onsid¢r¢d the amount of long terni investments and U0MmIt¢d funds needed to be retained to meet the objects of thc Trust and in Mah 2019 d¢¢ided that th¢ anwunt of £20,000 is r¢quired. The TnJste¢s are assisied by the various committees of the Rotary Club of the City of Wolverhampton in identifying projects and organisations they wish to support. Manggement and zovernance arrangements The TnreeS of the fund are those holding the offices of PresidenL President Elect, Vice Presiden¢ Secretary avjd Tre4surcr of the Rotary Club of the City of WolverhomptoL The TS and their posts thring the year were as follows= Ccox L Mecarthy J Hollingsworth J Hollingsworth D A Morgan (President) (President Elect) (Vice Pr¢sid¢nt) {SecTetary} (Tr¢UreT) The current Trustees are disclosed on page l. The Trnstees amiually review the risks that the charity faces. To dat¢ th¢se have mainly related to the inveslmeThts h¢ld and th¢ Trust¢¢s have lessened the effect of such risks OV¢T the years by the r¢alisation of parts of these investments into c&8]L It is th¢ current intention that this praGti¢¢ will ¢ontinue. Procedures aDd poll¢y for grAnt m*klng The Tntee8 meet half yearly to prepare budgels for anticipated fiinds and proposed grants. From this budget, the various committees of the Rotary Club of the City of Wolv¢rhampwn are allated amounts which are within their ambit to grant to appropriate beneficiaries. The Tn(eeS also make grants in accord with the objects of th¢ Trust.
WOLVERHAMIryON ROTARY CLUB CHARITABLE TRUST Rewtyrt of th¢ Trustees for the yer ended 30 June 2024 How the altIeS satisfy publie benefit In plamiing the activiti for th¢ year the Trust kept in mind the Charity Commission's guidance on public bencfit at their me¢tin8S. Th¢ focus of the activities is to raise atul di5tribut¢ fid5 for the pury)08es of relieving povety and distr¢ss. and for the advancemenl of education. both lo¢al. national and international. Aebievements and perfornixnte of the Trust The year to 30 Jun¢ 2024 benefitted from the holding of the Best Foot Forward fund raising event twice in the year due to the availability of the venue. It was extr¢m¢ly successfiji and raised £26,407 (2023-nil) in totsl . Th¢ Dragon Boat Challenge event was also very well supported with a full complim¢nt of boat crews taking part which hel to rais¢ £43.388 {2023-£31.224). The Tree of Remembrance increased to £7.370 from £6,825. However , the income from general donations and l¢ga¢i¢s fell to £5.056 from £9.308.Totsl incom¢ 8¢nerated in the year increased to £80.346 (2023-£45,669). A total of £66.827 {2023-£59.237) charitable donations were made during the year . Donations of £39,665{2023- £27.234) W¢ madc in both the UK and overseas and are detailed in not¢ 9. Further donations of £27,162 (2023- £31.5L13) were made from the Restiicted Fuads as detsiled in note 7. Fln4ncll review Th¢ results for the year disclose a surplus of £15.Q45, of which £22,129 was the SLW)lus of the income raised over the charitable donations distributed iti the Unrestricted Fund l¢ss £8.61N) donations from the Restrictsd Fund .and £1.516 was the unrealised $u4)lus on the valuation of the investment. The value of th¢ investtnents at 30 June 2024 had increased to £19.814 and the net CUTrent a&sels had incre&sed to £28,097. making a balance sbeet value of £47.911. This figure represents the funds available in the General Unrestricted Fund as the balance on th¢ JPB Legacy Fund is zero. The detsiled Tesults are set out on pages 6 to 13. Future plans The Trustccs intend to ¢ontinue providing gr4nts in a similar way to tbe recent past bui. as fjjnds primarily arise ID the second half of the fi$1 year. retain flexibility &s to ttming, and scale of grant makin8.
WOLVERHAMvfoN ROTARY CLUB CHARrrABLE TRUST Report of the Trustees for the year ended 30 June 2024 Trn$teeg' responsibilitie5 51*t¢ment The (nte¢S are responsible for prepating the Trustees. Annual Report and the financial statements in accoTdanc¢ with appli¢abl¢ law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AoUntIng Prdctice). The law applicable to clwiti¢s in England & Wales requires the trustees to Prepare financial statements for each ffftnancial 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 tn prepaTing th¢s¢ fujancial statements. the trustees are required to: select suitAble accounting policies and then apply them consist¢ndy' observe the m¢thods and principles in the Charities SORP. make judgernents and estimates that are reasonable and Prudent. state wbether applicable accounting Standards have been followed, subject io any makrial departures disclosed and explained in thc finanLial stat¢ments' prepare th¢ fman¢ial statements on th¢ going concern basis unl¢ss it Is in8PPTopriate to presum¢ tbat the charity will contmu¢ in operation. The tnL8tees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the finan¢Lal position of the charity and enable them to ensure that the financial sthtements comply with the Ch711¢S Act 2011, the trust deed and accounting and reportttig by Charities: Statem¢nt of Re¢ommended Practice applicable to ¢harities preparing thetr accounts in accordance with the Finan¢ial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS102) (Charities SORP (FRS IQ2)). They are a180 responsible for saf¢guarth"ng the assets of the charity and hence for taking asOnable steps for the prevention and detectioll of fraud and other irre8ularitie8. Approv by the Tntee8 on 31 March 2025 and signed on their behalf by. L Mccarthy President
. WOLVERHAMPTON ROTARY CLUB CIL4RITABLE TRUST Independent examiners report for the yer ¢nded 30 June 2024 E report to th¢ chlty tntstees on my examinthon of the accounts of the charity for the year ended 30 June 2024. which are set out on pag 6 to 13. Rwponsibilitie$ 2nd bsls of report As the charity's lrnslees you are responsible for the preparation of the accounts in a¢cordance with the requirements of the chltieS Act 2011('the Act,) I report in respe¢t of my examination of the charity's coUnt5 carried out wider seetion 145 of the A¢t and caTrying out my exwninalion I have followed all the applicable Directions 8iven by the Clwity Conunission under section 145(5)(b) of the ACL Independent exAmlner's statement I have competed my ¢x4mination . I confirm that no material mattcTS have come to my attention in Co[lletI0n with the examination giving me cause to believe that in any material respect: l. a¢wwiting records were not kepi in respeci of the charity as required by section 130 of the Act" or 2. the accounts do not a¢¢oTd with tbose accounting records. or 3. the accounts do not comply with the applieable requirements concerning the forni and CODt¢nt of accounts set out in the Charities (Accounts and RetKyrts} Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a n]atter considered as part of an ind¢EthI examinatio I have no concerns and have corne across no other matters in connection wilh the examination to which att¢ntion should be drawn in this report in order to enable A pmp¢r understding of the accowits to be r¢ached. Mrs M Martin FCCA Hollingsworth & Co Limited Chartered Accountants Coppi¢e House. Halesfield 7 Telforf TF7 4NA 31 Marcb 2025
WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST Slatement of Financi•l Activities for the year ended 30 June 2024 Total Fund$ 2024 Total FuDd$ 2023 Unrestricted Fund$ Restricted Funds Notss Income and endowments from: Donations and lega¢ies Charitable activities tnv¢$tmenis 5,056 55.728 I,0 5.056 74,290 9,308 35.556 805 18562 Tot21 61.784 18,562 80.346 45,669 Expendlture on: Charitable activities 7&9 39.655 27,162 66,817 59.237 Total 39,655 27,162 66,817 59,237 N¢t In¢Omel{pend1tUre) 22,129 (8,600) 13.529 (13,568) Other recognised galns1(lo¢$j. Gainsl(loss¢s) on inv¢stTn¢nt assets 1.516 1,516 602 Net moyement in yeAr 23,645 (8,600) 15.045 (12,966) ReconciliAtion of fundy: Total funds brought forward 24,266 8.600 32,866 45,832 Funds carrled forward 47,911 47,911 32,866 The net movement in Tesources arises solely from wntinuing activities. There w¢re no Tecognised gains or losses in the year other than the net movement of resources shown above. The notes on pages 8 to 13 forn] part of the finan¢io1 statements.
, WOLVERHAMFfoN ROTARY CLUB CHARITABLE TRUST Statement of financAai position at 30 June 2024 2024 2023 Nots$ Fixed asset finvestmeDt COIF CIwAties Investment Fund i0D¥ UDits io 19,814 18298 Current av4ets Debtor8 Bank counts 20,168 44,015 8.401 29,613 64,183 38.014 Current liabiliti¢s Creditors 12 36,086 23.446 Net current a98etylOlabllltles} 28,097 14,568 47,911 32.866 The Trds of the charity: General unrestricted fund JPB Legacy Fund 47,911 24,266 8.600 13 47.911 32,866 The notes on pages 8 to 13 fonn part of these finaii¢ial stat¢ments. The accounts were approved by the Trustees and authorised for is$ve on 31 March 21125 L McCoAhy President
WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST Notes to the aOUttts for the year eDd¢d 30 June 2024 A¢¢ounling polieiey Basis ofpreparation These accounts have been prepaRd under th¢ bistorical cost convention. as modified by the revaluation of fix¢d assel inv¢$¢m¢nts. and follow the recoD]mendations in Accounting alld Reporting by Chariti&s' Statement of Recommend¢d Practice issued applicable to Charities pr¢paring their accounts in accordance with the Fin&ncial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (chAtieS SORP (FRS 102)) and the Charities Act 2011 and applicable resolutions. Inveslments Fixed asset investsnents are included in the acwunts at the bid price at the balance sheet dat¢. Unrealised gains )d losses are tsken to th¢ appropriate fimlts in the statement of financial a¢tivities. Incoming resources Incoming resources are r¢cogni8¢d oll a receivable basis. Any in¢ome not receiv¢d at the year ¢nd is included in debr5. DonaliopLYpayable Dojjations are accounted for as and when they are approved by the trustees. Donations approved but not paid at the yeaT end are included in creditors. General Inforniailon Th¢ charity is a registered chaTity. re8iStered in En8land and Wales and its principal address is 45 Church Roa Albriglrton, Wolver1Jampto WV7 3LH Statement of Compllxnet The fmancial statements hav¢ be¢n pryTed in accordance with FRS102 'The Financial Reporting Standard applicable in the UK and Republie of Ireland" the statem¢nt applicable to ¢lwities Prepillg their a¢¢ounts in accordance with Financial R¢portiDg Standard appIlble in the UK and Republic of Jreland {FRS102) (Chariti¢s SORP (FRS102)) and the Charities Act 2011. Trustees remuneratioD 4nd expenses No remuneration was paid to aay trteeS durin8 the year (2023: Nil). No r¢imbursement of expenses ha8 been made to any of the trustees in r¢spect of the yegr (2023.. Nil). Employees The charity had no employ¢¢s during the year {2023: Nil)
WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST Noles to the accounts lor th¢ year end¢d 30 June 2024 Incoming resollrces from donations And charltsble 4¢tivikn 2024 2023 Donations: General donations 5,056 9,308 5.056 9.308 Fundraising events: Drngon Boat Challenge (Note 8) Tree of R¢m¢mbran¢e Best Foot Forward 200 Club surpl Rollover Raffle The 2k's sch¢m¢ Zambian school projects 20,668 7,370 26,407 510 773 13,382 6,825 965 837 I,149 2295 55,728 25.453 Restricted hnds During the year £18,562 (2023 -£10.103) was Taised foT specific charities nomitiated by dragon boat crews and paid out in accordance with their instructions. Donations of £8.600 {2023-£21,400) were mad¢ fri)m the JPB Legacy Fulld to sev¢n Charitable orwdnisations in the WohTertwnpton arca.
' WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST Notes to the accounts for the ye¥r ended 30 June 2024 Dragon Boat Challenge 2024 2023 Sponsorship and Gift Aid (hher income Expw5es and restricted fimds p&yments 39248 4.140 (22.720) 25,923 5,301 {17.842) 20.668 13.382 Charitable activities 2024 2023 Foundadon Rotary Foundation UK End Polio Now 3.500 3.500 1.000 4.500 4.500 InternlSonal EmeIgency Disaster App¢ds Congo Children's Trust re children's hom¢s Jaipur Limb Project Support for school in Lusaka. Zambia Palai HospifAI Shoebox Scheme Indian War Managemeni Safe d¢livui¢s of babies in hospits] , Etheopia Shelter Box 3.500 3,660 25 5.045 510 1.329 2,150 250 1,040 1.288 25 263 590 5,606 14.069 10
WOLVERHAMPTON ROTARY CLUB CHAluTABI TRUST Notes to the accounts for the year ended 30 June 2024 Charl¢able a¢tivities (continued) 2024 2023 Youth ServR¢es:. First Abide CIC 500 Young Musicians concert Wolver]wnpton MlC School Young Citizen awaTd RIBI Crocus Cornis Pine GTe¢n Kidzout Uplands School bean bagg and Tech challenge Rotary District RYLA St Teresa's Fun day out Rotary District Kids Fun day Fair Trades school competition Kingswood School B4H bookcas¢ for Low Hill School {60) {210) 300 200 250 175 576 544 297 600 75 45 50 750 400 1,882 2.610 Community Senrfees:. Th¢ Haven Wolverhampton The Wolverhamph)n MS Therapy Cetstre Compton Care hospice Wolverhampton Coronary Aftercare Group Sponsored Break Central Youth Theatr¢ SSAFA Next Step Midlands Susan VickeTS Foundation HJP Boxing Club Poppy Appeal Sundry donations Community Services Thc Ukranian R¢thgee & Migrant C¢ntr¢ The 2k scheme 4,350 5,930 1.830 4.350 1.700 4.100 1,830 1.000 2,000 100 50 427 1,700 1,700 1.700 50 456 (700) 500 1.149 27.667 6,555 2024 2023 Total donations 39.655 27234
WOLVERHAMFfoN ROTARY CLUB CHARITABLE TRUST Noles to the Accounts for the year ended 30 June 2024 io. Fixed Asset Investment 2024 2023 COIF ChArities Investment Fund Valuation at 30 June 2023 Realisation Increase {de¢re) in value 18,298 22,696 (5.000) 602 1,516 Valuation at 30 June 2024 19,814 18.298 Debtors 2024 2023 General debtors Ptepayinents 20,168 7.654 747 20,168 8.401 All arnounls shown under debtors fAII due for payment within one year. 12. Credltors: amounts falllng due within oDe year 2024 2023 Donations approved but not yet paid Dragon Boat Challenge creditors General creditors Amounts received for future events Designated Funds 13,200 17.562 4.683 5,955 4,983 2,346 9.501 661 641 36,086 23,446 13. JPB Legacy Fund The Trust received a legacy of £30,000 from the will of a Rotarlan aThd it will be used for the benefit of people and organisations in th¢ Wolverhampton area. 12
WOLVERHAMPTON ROTARY CLUB CHARITABLE TRUST Notes to the accounts for the year ended 30 June 2024 14. Analysis of net Assets between tsnds 2024 Restrl¢ted Funds Uurestrlcted Fund$ Total Funds Investtnents Current assets Creditois 19,814 64,183 (36.086} 19,814 64,183 (36,086) Net assets 47.911 47.91 A 2023 Restrlcted Fund5 Unrestricted Funds Total Funds Investments CuTrent assets Creditors 18,298 29,414 (23,446) 18,298 38,014 (23,446) Net *$s¢ts 24,266 8.600 32,866 13