REGISTERED CHARITY NUMBER: 221732
RAWLET TRUST
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 9 MARCH 2025
RAWLET TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 MARCH 2025
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
RAWLET TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 9 MARCH 2025
| TRUSTEES | |
|---|---|
| Eight Co-optative | |
| Mrs E Bates | |
| Mr R A Hughes (resigned 27.1.2025) | |
| Mr I W Perkins | |
| Mr A H Johnson | |
| Mrs L L Gilman | |
| Mrs V Vernon | |
| Mr G K Barlow | |
| Mr N Bradley | |
| Two Nominative | |
| Staffordshire County Council | |
| Cllr A C Farrell (resigned 13.6.2025) | |
| Cllr W Luca (appointed 13.6.2025) | |
| Tamworth Borough Council | |
| Cllr S Smith (resigned 21.5.2024) | |
| Cllr G M Coates (appointed 21.5.2024) | |
| Two Ex-Officio | |
| Mayor of Tamworth | |
| Cllr D J Harper (resigned 21.5.2024) | |
| Cllr G M Coates (from 21.5.2024 – to 8.5.2025) | |
| Cllr C D Bain (appointed 8.5.2025) | |
| Vicar of Tamworth | |
| Revd A S Lythall - Chair | |
| PRINCIPAL ADDRESS | Lawnswood |
| Bowmer Lane | |
| Fritchley | |
| Belper | |
| Derbyshire | |
| DE56 2FY | |
| REGISTERED CHARITY | 221732 |
| NUMBER | |
| INDEPENDENT EXAMINER | Philip Barnes & Co Limited |
| Chartered Accountants | |
| The Old Council Chambers | |
| Halford Street | |
| Tamworth | |
| Staffordshire | |
| B79 7RB |
Page 1
RAWLET TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 9 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 9 March 2025.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objects include the provision of bibles, making of grants to persons in need and also the advancement of education for persons under the age of 25 in the Borough of Tamworth.
Public benefit
The Trustees have due regard for the Charity Commission guidance on public benefit. The Trusts charitable purposes and objects are consistent with this guidance. The main activity is grantmaking. During the year all the activities described below were undertaken for public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year trustees actively identified and assessed numerous grant applications. Various educational grants and a significant number of relief in need or sickness grants were awarded in the period. Where trustees feel unable to offer direct funding assistance to applicants' attempts are made to signpost other organisations which may be able to offer suitable help.
Head teachers, schools careers teachers, and voluntary organisations dealing with Relief-in-Need and Relief-in-Sickness are made aware of the Trust and it's aims and objectives, and are encouraged to promote grant applications.
Allocation of bibles
The minimum allocation of bibles was met during the period.
FINANCIAL REVIEW
Principal funding sources
The principal source of funding is dividends received from the investments.
Investment policy and objectives
All the charity's investments, including the whole of the endowment fund is invested in COIF Charities Investment Fund Income Units. The Trustees aim for a reasonable yield whilst minimising the level of investment risk.
Review
The income and expenditure for the year are shown in the attached financial statements.
Reserves policy
The free reserves of the charity are represented by the unrestricted fund balance not committed or invested in fixed assets and at 9 March 2025 these were £35,111. The unrestricted fund also holds investments which had a market value at the balance sheet date of £14,346. The board of Trustees ensure that the reserves of the charity are sufficient to cover the grant and operating budgets agreed at the quarterly meetings.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Trust is regulated by a Deed of Trust adopted on the 3 August 1981 and is registered with the Charity Commission.
Recruitment and appointment of new trustees
Trustees are appointed in accordance with the Trust Document. This document provides for both the vicar of the parish of St Edithas Tamworth and the mayor of the Borough of Tamworth to be trustees along with a trustee nominated by each of Staffordshire County Council and Tamworth Borough Council. Other trustees are required to have a knowledge of the area of benefit.
Page 2
RAWLET TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 9 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The charity is managed by the Board of Trustees which, number no more that twelve at any time, and are required by the Trust Deed to meet a minimum of twice per annum. During the year they met on a quarterly basis.
A special committee is able to meet if necessary for very urgent matters between Trustees meetings
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 3 July 2025 and signed on its behalf by:
Mr I W Perkins - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RAWLET TRUST
Independent examiner's report to the trustees of Rawlet Trust
I report to the charity trustees on my examination of the accounts of Rawlet Trust (the Trust) for the year ended 9 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
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.
C J Humphreys FCA
Philip Barnes & Co Limited Chartered Accountants The Old Council Chambers Halford Street Tamworth Staffordshire B79 7RB
3 July 2025
Page 4
RAWLET TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 9 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Investment income 3 EXPENDITURE ON Charitable activities Grants Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 30,440 26,725 (265) 3,450 46,007 49,457 |
Restricted fund £ - - - - 210 210 |
Endowment fund £ - - (19,141) (19,141) 1,054,114 1,034,973 |
2025 Total funds £ 30,440 26,725 (19,406) (15,691) 1,100,331 1,084,640 |
2024 Total funds £ 29,678 32,068 73,802 71,412 1,028,919 1,100,331 |
|---|---|---|---|---|---|
The notes form part of these financial statements
Page 5
RAWLET TRUST
BALANCE SHEET 9 MARCH 2025
| Notes FIXED ASSETS Investments 6 CURRENT ASSETS Cash at bank 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted fund £ 14,346 35,111 35,111 49,457 49,457 |
Restricted fund £ - 210 210 210 210 |
Endowment fund £ 1,034,973 - - 1,034,973 1,034,973 |
2025 Total funds £ 1,049,319 35,321 35,321 1,084,640 1,084,640 49,457 210 1,034,973 1,084,640 |
2024 Total funds £ 1,068,725 31,606 |
|---|---|---|---|---|---|
| 31,606 | |||||
| 1,100,331 | |||||
| 1,100,331 | |||||
| 46,007 210 1,054,114 |
|||||
| 1,100,331 |
The financial statements were approved by the Board of Trustees and authorised for issue on 3 July 2025 and were signed on its behalf by:
Mr A H Johnson - Trustee
The notes form part of these financial statements
Page 6
RAWLET TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 MARCH 2025
1. STATUTORY INFORMATION
The Charity of Rawlet Trust is an unincorporated charity registered in England and Wales. The charity's address and registered number can be found on page 1 of these financial statements.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The accounts are prepared on a receipts and payments basis with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement and is in receipt of the amount. Income generated from the permanent endowment investments is unrestricted income and is shown in the general fund when received.
Expenditure
Expenditure including irrecoverable VAT, is included when paid.
Governance costs
Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs associated with the strategic management of the charity.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
This differentiates between restricted and unrestricted funds.
General funds are unrestricted funds and can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors.
The endowment fund of the Trust is a permanent endowment fund which generally must be held indefinitely. This is a capital restricted fund and is invested to provide an income for the day to day work of the charity.
The general fund includes income generated from the original endowment of the trust together with the income and expenditure of the charity's day to day activities.
Investments
Investments are included at closing mid-market value on the trading day nearest to balance sheet date. Any gains or losses arising on revaluations and disposals are taken to the Statement of Financial Activities.
continued...
Page 7
RAWLET TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 9 MARCH 2025
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| COIF investment income Deposit account interest |
2025 £ 29,129 1,311 30,440 |
2024 £ 28,559 1,119 |
| 29,678 |
4. GRANTS PAYABLE
| Grants The total grants paid to individuals during the year was as follows: Educational Non-educational Grants no longer required |
2025 £ 23,612 2025 £ 8,570 16,475 (1,433) 23,612 |
2024 £ 29,182 2024 £ 10,301 19,240 (359) 29,182 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 9 March 2025 nor for the year ended 9 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 9 March 2025 nor for the year ended 9 March 2024.
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 10 March 2024 Revaluations At 9 March 2025 |
Listed investments £ 1,068,725 (19,406) 1,049,319 |
|---|---|
The above investments comprise income units of the COIF Charities Investment Fund.
continued...
Page 8
RAWLET TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 9 MARCH 2025
7. CASH AT BANK
| Current account COIF charities deposit fund Total |
2025 Total funds £ 10,176 25,145 35,321 |
2024 Total funds £ 7,902 23,704 |
|---|---|---|
| 31,606 |
8. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Religious education materials Endowment funds Permanent endowment TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 30,440 Endowment funds Permanent endowment - TOTAL FUNDS 30,440 |
At 10.3.24 £ 46,007 210 1,054,114 1,100,331 Resources expended £ (26,725) - (26,725) |
Net movement in funds £ 3,450 - (19,141) (15,691) Gains and losses £ (265) (19,141) (19,406) |
At 9.3.25 £ 49,457 210 1,034,973 1,084,640 Movement in funds £ 3,450 (19,141) (15,691) |
|---|---|---|---|
continued...
Page 9
RAWLET TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 9 MARCH 2025
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Religious education materials Endowment funds Permanent endowment TOTAL FUNDS Comparative net movement in funds, included in the above are a Incoming resources £ Unrestricted funds General fund 29,678 Restricted funds Religious education materials - Endowment funds Permanent endowment - TOTAL FUNDS 29,678 |
At 10.3.23 £ 46,598 1,000 981,321 1,028,919 s follows: Resources expended £ (31,278) (790) - (32,068) |
Net movement in funds £ (591) (790) 72,793 71,412 Gains and losses £ 1,009 - 72,793 73,802 |
At 9.3.24 £ 46,007 210 1,054,114 1,100,331 Movement in funds £ (591) (790) 72,793 71,412 |
|---|---|---|---|
RESTRICTED FUND
This fund comprised a grant of £1,000 from former local charity Starfish Project for religious education materials.
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 9 March 2025.
Page 10