RYCROFf CFtILDRENS FUND Fll¥ANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
RYcRo CHILDRENS FUND TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 ST MARCH 2024 The trustees present their rq)ort for the year ended 31st March 2024. TRUSTEES The ttustees during the year were: C.P. Lees-jones: Chairn)an A. Greatbalch C. Kenyon B. Russell P. lyer The Wer of apIntIng new and additional truslees is exeTcisable by resolution of the tStees. The cbarity w&$ established by TTUSt Deed dated 2Jst (ktober 1857 and is registered with the Charity Commission, nurnber 231771. The charity's contact address is LOW Dunishbooth House. tane Head. Rochdale. OL12 6BH. OBJECTS AND ORGANISATION The objert of the chariry shall be the relief of children and young persons wbo are in conditions of ne¢d, hardship or distress #nd who are resident in the counties of Cheshire. Derbyshire. Gr¢ater Manchester, Lancasbire. Staffordsbire, South yO1[C and West yOb]re. Preference shall be given to such children and young persons qualified as aforesaid who are resident in the cities of Manchester and Salford and the Borough of Trafford The tsustees have had rerd to the guidance issued by the Charity Commi&sion on public benefit. ACHEIVEMENTS AND PERFORMANCE During 202312024 the charity made 50 donations to VlouS individua15 and organisations. This amounted to £33.180. FINANCIAL REVIEW Tncoming resourc¢5 continued to generdte an increased Surp1 from £14,225 in 2023 to £38,859 in 2024. RlIsed losses on sales of investMts arnounted to a loss of £3,0( compared with a 105s of £29.300 in 2023. Charitable donations paid amounted to £33.180 (2023: £35.533). The attached fllwicial statements show the current slate of th¢ filnCeS which the trustees consider to be rea50nabl¢. RESERVES The reserves held which amount to £1.520,074 (2023". £1,448.076) are considered nece&5ary be able to generate suffi¢ient income levels needed to forn) the activities noted above. INVESTMENT The tNstees have an artive poli¢y wbicb seeks to maximise income wbilst maintaining underlying pitsl values.
RYCROFT CHtLDRENS FUND TRUSTEES, ANNUAL REPORT FOR THE YEAR EED 31ST MARCH 2023 RISK MANAGEMENT The chariry's trustees have assessed the major risks to which the chaTity is exp)sed. They are satisfied that the appropriate systerns and safeguards are in place to adequat¢ly mitigate any significant risk exposure. PLANS FOR THE FLrruRE The truste&% plan to continue the tivitieS prlOUs1Y outlined tn the forthcorning y¢aTS. sllbjt to satisfaciory fimding arrangements. ADVISORS At the year end the clwity's banker w&8 the Collmtive Bank plc and the chan'tys illvestment manager was Rathbone& The independenl accountants are Royc¢ Peeling Green Limits4 The Copper Room. Deva City Office PaTk, Trinity Way, Manchester, M3 7BG. TRUSTEES, RESPONSIBILrr Under the Charities Act 2011 the truste¢s are required TO prepare financial statements for each financial its year, which give a tnje and faiT view of the state of affaiT5 of the charity at th¢ end of the year and of incoming resoutces and application of resou in the year. In preparing those financial statements the tnL£tees are rtyuired to: select suitable accounting policies and then apply them nSistentlY. make judgements and estimates that are re&sonabl¢ pnen( • state whether applicable accounting standards and statern¢nts of recomrnended prdctice have been followed. subject to any material departll disclosed and explaitied in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the chaTity will continue its OationS. The trttees are resyn8ib1c for keeping adequate accounting rordS whi¢h discli)s¢ with reasonable accuracy at anitime the financial tmysitioll of the charity at that titlle and to enable the trustees to ensure that the financial stst¢ments. prepared by them. comply with the regulations under Section 132 of the Charities Act 2011. They are 31so responsible for safeguarding the assets of th¢ ¢barity and hence for taking r¢asonable steps for the prevention detection of fraud and other irregularities. This report was approved by the ¢Thtee$ oo 2z.AuJuse..2024 and sign¢d on their behalf by C.P. Lées-JoD Trustee
INDEPENDEI¥T EXAMINER'S REPORT TO THE TRUSTEES OF RYCROFt CHILDRENS FUND I report io the trustees on my examination of the aceoutts of the Rycroft Childre% Fund (the Clwity) for the year ended 31st March 2024. RESPONSIBILITIES AND BASIS OF REPORT As the charity 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 examIOn of the Charity's accounts carried oul under section 145 of the 2011 Act and in carying out my examination I have followed all the appliuble Directions given by the Charity Commission under 145(5)(b) of the A¢t. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I c4)nfirn) that no material matters have come to my attention in connection with Ihe examination giving me cause to believ¢ that in any material re5p¢. accounting r¢cords were not kept in respect of the Charity as required by section 130 of the Act. or the accounts do not accord with those records. or the accounts do not comply with the applirable requirements concerning the forni and content of aounts Set Oui in the ChaTitie5 (Accounts and Repons) RegulatioDS 2(K18 other thau the requirement thai the accounts give a 'true and fair view. which is not a mattw considered a5 part of an indq)endent examination. I have no concerns and have come across no other matters in connection wilh the examination to which attention should be drnwn in this report in order to enable a proper understanding of the accounts to be reached. @eoLo- CarolyD Dutton BFP FCA FCCA FMAAT Royce Peellng Creen Limlted Chartered Accountants The Copper Room. Deva Cltr Office Pa Trfinlty Way Manchester. M3 7BG
RYCROFT CHILDRENS FUND STATEMEwf OF FINANCIAL ACTIVITIES FOR THE YEAR EYDED 31ST MARCH 2024 2024 2023 Unrestrleted Capital Funds F•nd Totsl INCOMING RESOURCES Donations received Inleresl received tnvestment income Gainsl{losses) on realisation of investrnents Other income 825 41.124 825 958 41.124 42.567 (3,090) (3,090) (29,300) 41,949 (3.091)) 38.859 14.225 RESOURCES EXPENDED Direct clwitsbl¢ expenditure: Donations 33.180 33.180 35,533 Other expenditure: Administration charges Investment managers charges Accountancy 4.418 4,418 10,114 860 5,495 10,224 820 10.114 860 5278 10,114 15,392 16,539 TOTAL RESOURCES EXPENDED 38,458 10.114 48,572 52.072 Net inwmin(0Utg0ing) r&wurcts for the year 3.491 (13,204) (9.713) (37.847) Other recognised gaitis and losses: (DecTeaseVlncrea5e in market value of investments 81,711 81.711 (92,562) 3.491 68.507 71.998 (130.409) Fund balance brought forward (2.416) 1,450.492 1.448,076 1.578,485 Fund ba13n¢¢ wried forward 1,075 1518.999 1.520.074 1,448.076
RYCROFT CHILDRENS FUND BALANCE SHEET AS AT 31ST MARCH 2024 Notes 2024 2023 FIXED ASSETS Markd Value Market V4lue tnvesttnents Units CCLA investments Cash held by agent - capital 1,464.(h52 30.941 17,707 l J82,230 28.373 32.827 1.512.710 1,443.430 CURENT ASSETS C&sh at bank and on deposit.. Current account- income 10.766 8.363 10,766 8,363 AMOUNTS FALLING DUE wrrHIN ONE YEAR Sundry creditors (3.402) (3.717) 7J64 4,646 NET ASSETS 1.520.074 1.448.076 REPRESENTED BY Capitsl account Unrcstricted fun 1.518,999 .075 1.450,492 (2.416) 1,520.074 1.448,076 The financial statements wer¢ approved by the trustees on 2024 and signed on their behalf by C.P. Lees-Jones Trustee
RYCROFT CHtLDRENS FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 I. ACCOUNTING POLICIES The following accounting licIeS have been used consistently in dealing with items which are considered material in relation to the cltaritys financial statements. Basis of Acwunting: The fjnancial statements have been prepared in accordaace with applicable accounting standards and follow recon)m¢Ddation5 in Statement of Recommended Practice Accounting by ChaTiti¢s and Financial Rew>rting Standard FRS102 and the ChaTities Act 2011. Investments Investments are initially recorded at Cost and subsequently at market value ai the balance sheet date, using th¢ closirtg quoted mthet Price. The Statemellt of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Investment And Other ID¢ome tnvestment and oth¢r incomc is recognised in the financial stalemertts when it is receivable. V#lye Added Tax: As the majority of Rycroft Children5 Fuod's activities classified non-business act&vitie5 for the purposes of value added tw Rycroft Childrens Fund is unable to reclairn all the value added tax which it suff¢Ts on its purcllases. ExpenditUTe in these financial slatements is therefore sho in¢lusive of valu¢ added tax. Other Taxation: No provision has be¢n made for COT&tIon tax or deferred tsx as the clwitable company is a registered charity and is therefor¢ exem. Fund Accounting Unrestricted fiu)ds are available for use at the discretion of the tntets in filltheranc¢ of the general objectives of the Charity. 2. GAINI(LOSS) ON REALISATION OF INVESTMENTS Tre*8Ury Stock uts 2024 2023 Pmceeds Value 272,837 272,837 162,832 275.927 275,927 192,132 Gainl(loss) (3.(Y)O) (3.090) (29,31K)) RYCROFf CHILDRENS FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JIST MARCH 2024 3. tNDEPENDENf ACCOUNTANTS. FEES 2024 2023 The lotsl paid to the independent accouniants by the harity related to the following services: Accounlancy 860 820 4. INVESTMENTS. MARKET VALUE Unlts CCLA Tot*l Markct value at 1st April 2023 Additions DISSaI8 incluth'ng unTealis¢d profitlio as at 1st April 2023 Change in market vah Realised gainsl(loss) on disp(wls 1,382.230 278.616 28.373 1.410.603 278.616 (272.837) 79.143 {3.090) (272,837) 81.711 (3.090) 2.568 Market valu¢ at 3 1st March 2024 1,464.062 30.941 1,495.003 Unrealised profit(l(Iss) at 3 1st March 2024 246,537 26.444 145,043 Movernent charged to sthtemtht of ftnan¢ial activities 79.143 2.568 81.711 Original cost 1288.285 4.497 1.292,782 RYcRo CHILDRENS FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 5. CREDITORS 2024 2023 Amounts falling due within one year. AccnMIs 3.402 3,717 3.402 3,717 6. TRUSTEES REMUNERATION None of the tswte¢s bave Te1Ved any muneration during the year, out of the funds of the Charity (2023 - £nil). and nooe have chosen to claim reimbursement of expenses to attend Tntee meetings. 7. STAFF NUMBERS No stsff w¢r¢ employoj by the Charity in the year.