REGISTERED CHARrrY NUMBER: 225487 Re of the TnvJtees and Unaudited Financial Ststements for th& Yoar Ended 31 Doegmber 2023 for THE SHEFFIELD ROTARY CHARrrY Heather Lea Business Servtis 49 Heather Lea Avenue Sheffield S173DL
THE SHEFFIELD ROTARY CHARITY Contents of the Financial Statements for the Year Ended 31 December 2023 Pago Report of the Trustees 1 to 3 Independent Examinerfs Report Statement of Finan¢lal Adivities Balance Sheet Notss to Ihe Financlal Ststements 7 to 11 Detail Statement of Financlal Acthiitigs 12 to 13
THE SHEFFIELD ROTARY CHARrrY Re rt of the Trustees for the Year Ended 31 December 2023 The trustees present their report Wtth the financial statements of the charity for the year ended 31 Dember 2023. The trustees have adopted the provisions of Accountrng and Rewfb"ng by Charities.. Statement of Recommended practi applicable to charits'es preparing their accounts in accordance with the Financial R8porbng Standard applicable in the UK and Republic of Ireland IFRS 102} leffective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The Charity's prir¢cipal activity as set down in the Trust Deed and the deeds of variation is to provide a holiday for underprivileged children from Sheffiekl and surrounding distn"cL To achvave this athity the Commrttee oversees the propety at Casveton in the Peak Distrbct of Derbyshire some 15 miles from Sheffield. The property is let to var¥)us organisations throughout the year lo maintain the fabfic of the buildings. The propety is available for camps in the summer for under privileged chihjren from Sheffield and surrounding district. In planning their activittes the Commrttee has consKlered the Charty Commiwon's guidan on public benefit. ACHIEVEMENT AND PERFORMANCE Charitable actFvitifrs The Charity continued to meet ts obiecbves and hekj three camps in the summer for under privileged children_ The committee mel regularly to discuss the posibon of lettings as well as receiving reports on the maintenance of the properh"es, a(e$S for the disabled and the financial p)sition of the Charity.In addition, the Committee updated the risk assessments and heath and safety noti relating to the Children's camps and for the benefit of hirer5 using the ntre. FINANCIAL REVIEW Flnancial posltlon During the year to 31 December 2023 the Centre was open for all the year and as a resutt the rental income has increaged from £41,601 to £58.708. The Sheffield Rotary Charity re¢eived £Nil { 2022 £4.0001 in grants. Principal fundlng sources The Charity's main funding sources are rents from hiring the properties and donations. These fvnds are sufficient to meet the Charity's obligations. During the year incoming nts have increased from £41,601 to £58,708 and donations have increased from £1,430 to £7.530. The total resources expended have decreased from £73,335 to £51, 196. The f¥Jnd balances have increased by £22,240 compared a decrease in 2022 of £22.992 and at the year end the Charity had total funds of £393,300 {2022 - £371,060) and this was split as follows £193,30012022 £171.0601 Genera5 funds and £200.OLKJO12022- £200,000) DesKJnate¢J funds . Page 1
THE SHEFFIELD ROTARY CHARrrY Re rt of the Trust I r the Year Ended 31 December 2023 FINANCIAL REVIEW Resepies policy 11 is the policy of the Chanty that unrestricted fijnds and trtose designated for a specific use should be maintained at a lèvel equivalent to tsVeen three and six months of expenditure. The Trustèes consider that reserves at this level wll ensure that. in the event of a signikant drop in inwme. they will be able lo continue the Charity's current activib.es while consideratson is given to ways in which addth.onal funds may be raised. Free reserves at the year end were £50.71512022 - £28,475) after designating funds of £200.000 12022 £200,000). The level of reserves. including designated resour$. hehl ty the Charity vras in excess of the minimum target. The trustees deaded that each year any surplus generated in the General Fund woukl be transferred to the Designated Fund until that fund reached £2lK).0. This year there has t*en no transfer betrn the reserves as the baLance is now £200.000.. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity is a Trust I Charity Number 225487}. The Chanty is govemed by the original trust deed dated 25 March 1955 and by deeds of variation dated 18 February 1980 and 19 June 2018. The trustees delegate the day to day responsibility to a commtttee of up to 15 People who are collectively known as the Castleton Management Cornmitteel the Committee). Each of the members of the Committee is a member of the Rotary Club of Sheffield. Trustees and Organisalional Structure The members of the Rolary Club of ShefffEid apkxjnt the trustees. None of the trustees have any beneficial interest in the Sheffield Rotary Chanty. The trustees administer the Charity and may delegate the day to day vnanagement of the Trust propety to the Commrttee.The trustees have the power to make and alter the rules and regulations and authorise expenditure and raise fvnds. REFERENCE AND ADMINISTrATIVE DEfAILS Registered Charlty number 225487 Princlpal address S HawOOd Avenue Retford Noth"nghamshire DN22 7PH TnteeS Dr P F Boston 29.8.241 Dr V N Mehrotra Mr N G Tudor Mr L G Taylor Mr N C Padgett lappointed 29.8.24) Indgpendent Examlner D Mangles FCA Heather Lea Business Servi 49 Heather Lea Avenue Sheffield S17 3DL Pa3e 2
THE.SHEFFIELD ROTARY CHARrrY Re ort of the Trustees for the Year Ended 31 December 2023 REFERENCE AND ADMINISTRATIVE DETAILS Bankers C A F Bank Limiteij 25 kn'ngs Hill Avenue Qngs Hill Wesl Malling Kent MEig 4JQ Approv1 by order of the board of trustees on 17 Octoi*r 2024 and signed on its behalf by: /0< /&- Mr N G Tudor- Trustee Page 3
Inde endent Examinorfs Re ort to the Trustees ol THE SHEFFIELD ROTARY CHARITY Independent examinerfs report to the trustees of THE SHEFFIELD ROTARY CHARrr I report to the charity trustees on my examinatFon of the ants of THE SHEFFIELD ROTARY CHARITY lthe Trustl for the year ended 31 December 2023 Responsibilities and basls of report As the chanty trustees of thè Trust you are rÈgponsible for the preparation of the account8 in aeeordance wth the requirements of the Chanties Act 2011 rthe ACV). I report in respect of my examinatron of the Trusfs accounts (xrried out under Section 145 of the Act and in carrying out my examinats.on I have foll¢)wed all applvble Directions given by the Charity Commission under Section 14515){bl of the Act. Independent examinefs statemgnt I have completed my examinab"on. I confirm that no material matters have come to my attents.on in connection with the examination gtving me cause to believe th* in any material reSt accounting records were not kept in respect of the Twst as required by Section 130 of the A¢ or the accounts do not acr[l wtth those records., or the accoijnts do not comply the applic2ble Tequirements o)neeming the fomi and content of accounts set out in the Charities IA(t4)Lfnts and Report51 Regulations 2008 other than any requirement that the accoLtnts gwe a true and fair view which is not a rnatter considered as part of an independent examination. I have no concems and have come across no other matters in connectitin with the examinabon to whiGh attenlion should be drawm in this retth in order to enable a proper understanding of the accounts to be reached. n (Yk4th . ILJQ_ L D Mangles FCA Heather Lea Business Services 49 Heather Lea Avenue Sheffield S173DL 17 October 2024 Page 4
THE SHEFFIELD ROTARY CHARrrY Statement of Finaneial Activities for the Year Ended 31 December 2023 31.12.23 Total fvnds 31.12.22 Total ftJnd5 Unrestncted Restncted funds fijnds Notes INCOME AND END0WIIEPs FROM Donations and legacies 7.530 7,530 5,430 Charitable activities Charitsble Activib"es 58.982 58.982 41,871 Investment income Other income 4,526 2.398 4,526 2,398 911 2,131 ToLIl 73.436 73,436 50,343 EXPENDITURE ON Charitable activities Charitable Acbvit 51.196 51,196 73,335 NET INCOMEIIEXPENDrruRE) 22,240 22.240 {22,9921 RECONCILIATION OF FUNDS Total funds brought forward 371.CEO 371,060 394,052 TOTAL FUNDS CARRIED FORWARD 393,300 393,3LNJ 371,060 The notes foThn part of Ihese financial st*ments Page 5
THE SHEFFIELD ROTARY CHARTrY Balance Sheet 31 December 2023 31.12.23 Total fijnds 31.12.22 Total funds funds funds Notes FIXED ASSETS Tangible assets 142.585 142,585 142.585 CURRENT ASSErs Debtors Cash at bank 4,402 252.512 4,402 252.512 4,028 232,372 2SS.914 256.914 236,400 CREDITORS Amounts falling due wtthin one year (6,199) 16,1991 {7,925) NET cuRRETr ASSETS 250.715 250,715 228,475 TOTAL ASSEfs LESS CURREKr LIABILITIES 393.300 393,300 371,060 ASSETS 393.300 393.300 371,(0 FUNDS Unrestricted fLtnds'. General hjnd Designated fund 193,300 200,000 171,060 200,000 393.300 371,060 TOTAL FUNDS 393,300 371,060 The financi21 statements were approved by the Board of Trustees and authorised for issue on 17 October 2024 and were signed on its behalf by.. ffé /Jr Mr N G Tudor- Twstee The notes fomi part of these financial statements Page 6
THE.SHEFFIELD OTARY CHARITY Notes to the Financial Statements for the Year Ended 31 De¢ernber 2023 ACCOUNTING POUCIES Basis of preparing the financlal ststements The financial statements of the charity, which is a public benefft entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporb"ng by Charities.. statement of Recommended Practice applicabte to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 2019}'. Financial Reporb"ng Slandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the charib.es Act 2011. The financial statements have been prepared under the historical cost convents"on. Income All income is recognised in the Statement of Financial Acttvtb"es once the charity has entitlement lo the funds, it is probable that the income wll be received and the amount can be measured reliabfy. Exp•nditufe Liabilthes are recognised as expendrture as soon as there is a legal or constructive obligab'on Comm19 the charity to that expenditure. it is probable that a transfer of economic benefrts will be required in setuement and the amount of the obligation can be measured reliabty- Expenditure is accounted for on an accruals basis and has been classFfied under headings that aggregate all cost related to the category. Where costs cannot diredy attributed to parb"cular headings they have been allocated to ath'Ves on a basis consistent wrth the use of resources. Tangible fixed assgts The cost of land and buildings is not deprec¢ated as the trustees are of the opinion that they are maintained in good condition so that their value is not significanuy impaired by the passage of time and in consequence any element of depreciation would be immaterial. Taxatlon As a chanty, The Sheffiekl Rotsry Charity is exempt from tax on income and gains falling wrthin the available tax exemptions to the extent that these are apd to ils charitable objects. No tsx charges have arisen In the chanty. Fund ac¢ounting Unrestricted fvnds are those fvnds whth are available for use at the discretion of the trusteeg in furtheran of the general obiectsves of the chartty. and lch have not been designated for other purposes. Designated funds are fullds set aside by the trustees out of unrestricted general funds specific future purposes.Further details can be found in note 9 to the accounts Restricted fvnds are fvnd5 which are to be used in accordan specrfic restrictions imposed by donors. Further details ¢an be found in note 9 to the accounts. Page 7 continued...
THE SHEFFIELD ROTARY CHARITY Notes to the Financial Ststements - contlnued for the Year Ended 31 DeCemr 2023 INVESTMEKf INCOME 31.12.23 31.12.22 Deposit account interest 4.526 911 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31 Dernber 2023 nor for the year ended 31 Drnber 2022. Trustees. expense5 There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 DeCemtrr 2022. AVERAGE NUMBER OF EMPLOYEES The average number of employees during the year was NIL (2022 NIL). COMPARATIVES FOR THE STATEf41ENT OF FINANCIAL ACTivrfiES Unrestricted Restricled funds lunds To121 ftjnds INCOME AND ENDOWMENTS FROM Donations and legacies 5.430 5,430 CharTtable al¥ltIeS Charitabk Actwittes 41.871 41,871 Investment income Other income 911 2.131 911 2.131 Totsl 50.343 50,343 EXPENDITURE ON Charitable activitiès Charrtabie Activrties 73,335 73,335 NET INCOMEI{EXPENDrruRE) 122,992) 122.992) RECONCILIATION OF FUNDS Total funds brought forward 394.052 394,052 TOTAL FUNDS CARRIED FORWARD 371.C60 371,060 Page 8 continued...
THE SHEFFIELD ROTARY CHARITY Notes to the Financial Statoments - contlnued for the Yoar Ended 31 December 2023 TANGIBLE FIXED ASSETS Freehokl property Plant and machit)ery Totals COST At 1 January 2023 and 31 De{mr 2023 142.535 50 142,585 NET BOOK VALUE At 31 December 2023 142,535 50 142,585 At 31 December 2022 142,535 50 142,585 Included in cost or valuatiort of knd and buihlings is freehold Land of £142,53512022- £142,535) which is not depreciated. Rental paid under operating leases are Charged to the profft and loss on a straight line basis over the lease temi. DEBTORS: AM0UPs FALLING DUE WtrHIN ONE YEAR 31.12.23 31.12.22 400 4,002 400 3,628 Prepayments 4,402 4,028 CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.12.23 31.12.22 Trade creditors Other creditors 6,200 7,925 6,199 7,925 MOVEMENT IN FUNDS Nel movement in funds At 31.12.23 At 1.1.23 Unrgstricted funds General fund Designated fvnd 171,C60 200,0 22,240 193,300 200,000 371,C60 22,240 393,3CN) TOTAL FUNDS 371.060 22.240 393,300 Page g continued...
THE SHEFFIELD ROTARY CHARrrY Notes to the Financial Statements- continued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS - Continued Nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 73,436 (51.1961 22.240 TOTAL FUNDS 73,436 (51,1961 22,240 Comparntives fr>r movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted fvnds General fund Designated fund 194,052 200,000 {22,9921 171,060 200.000 394,052 122,992) 371,060 TOTAL FUNDS 394.052 {22,992) 371,060 Comparative net movement in funds. included in the above are as follows". Incoming Resources Movement resour expended in funds Unrestricted funds General lund 50.343 {73.3351 122,992} TOTAL FUNDS (73,335) {22,g921 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 1.1_22 31.12.23 Unrestricted funds General fund Designated fund 194,052 200,000 (752) 193,300 200,000 394,052 1752) 393,300 TOTAL FUNDS 394.052 {752} 393,300 Page 10 continued...
THE SHEFF ELD ROTARY CHARrrY Notes to the Financial Statements - continued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS- continued A Cufrenl year 12 months and kyior year 12 months ¢bined net movement in funds, included in the atve are as follows". Incoming Resources Movement resour expended in funds Unrèstriclgd funds General fijnd 123,779 {124.531) (7521 TOTAL FUNDS 123.77g {124,5311 {7521 10. RELATED PARTY DISCLOSURES There were no related paty transacbons for the year ended 31 December 2023. Page11
THE SHEFFIELD ROTARY CHARITY Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31_12.23 31.12.22 Charitable activities Brought forward AED 50,302 230 72.679 50.532 72,679 Support costs Management Sundries Flnarsce Bank charges 81 Governance costs Accountancy 600 575 Total resources expended 51,196 73,335 Net incomel(expeThdltur¢) 22.240 122,992) This page dS nol fomi part of the ststutory financial statements Page 13