BIRMINGHAM RETIREMENT COUNCIL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR EINDED 31ST MARCH 2024 Charity Number: 241670
BIRMINGHAM RETIREMENT COUNCIL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31" MARCH 2024 CONTENrs PAGE Reference and a(Iministration Trustees, report Independent examiner's report Statement of financial activities Balance sh¢et Notes to the financial statements 9_15
BIRMINGHAM RETIREMENT COUNCIL REFERENCE AND ADMINISTRATION EXECUTIVE COMMITTEE MEMBERS AND TRUSTEES Mrs Vivierme Wilkes Mrs Jill Gorst Sue Anderson Hon. Aldernian Mrs Margaret Guy R.D.D.L Mrs Penny Wagg Mrs NoTma Burke Mr Philip Williams Mrs Fiona Matthews Councillor Kerry Jenkins Hon Aldemian Sue Anderson President Chaimian Treasurer Vice Chairnian Trustee Trustee Fircone Representative Fircone Representative B:ham City Council Representative B'ham City Council Representative CHAPLAIN To Be Appointed MANAGEMENT STAFF G Malcolm J Ford Esq Mrs Stephanie Rickett Lee R Harris Esq Executive Manager Administrative Assistant Security Warden REGISTERED OFFICE Norn]an Leaker Centre 1237 Stratford Road Hall (ireen Binningham B28 9AA INDEPENDENT EXAMINER Huntington Accountancy Services Ltd Accountants and Financial Advisors 15 Stag Drive Hunlington Canno¢k Staffordshire WS124UJ
BIRMINGHAM RETIREMENT COUNCIL TRUSTEES, REPORT YEAR ENDED 31" MARCH 2024 The Trustees of Birmingham Retirement Council PTesent their report and the financial statements for the year ended 31, March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution Birn]ingham Retirement Council is constituted under a trust deed dated I l March 1965 and is a registered Charity under Chartty No.241670. The management of the Trust ts the responsibility of the trustees who are elected or co-opted under the tenns of the trust deed. Organisation Members of the Executive Committee act as trust¢¢s. The committee is comprised of honorary ofticers and other persons having particular interest and experience Telatcd to the problems of retiremcnt. An Executive Manager is appointed by the truste¢s to manage the day-to-day operations of the charity. The trustees and management staff are set out on page l. Risk Management The trustees actively review ihe major risks which fac¢ the charity and in particular those related to its operations and finance. The trustees are satisfied that systems are in place to mitigate exposure to major risks. Investment Policy In the absence of any express power. the powers of investment are contained in the Trust¢e Act 2000 which confers a general power to invest. FINANCIAL REVIEW Results The results of the year's operations are set out in the attached financial statements. The net surplus for the year amounts lo £8,352 7th retained reserves at 31 March 2024 amounting to £168,954.
The Charity's main sources of income arises from fees from Fircon¢ leisuie activities £33,980 and room lettkngs £8,233. Tight financial control continues to be of paramount importance, efforts continuing to be exerted in both th¢ control of costs and innovative means of generating additional income. Reserves The financial statements show the assets and liabilities by type. The unrestricted funds amount to £168,954 but only £32,382 is freely available bc'cause the balance is dcsignated for oth¢T purposes. The trustees feel that reasonably substantial free reserves are needed because of declining Fircone membership and the economic consequences of Covid 19. Accounting and reporting responsibilities The trustees are required by law to prepare fllk2ncial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the tnleeS are required to: select suitable accountRng policies and apply them consistently, make judgements and estimates that are reasonable and prudent, state whether applicable accounting standards and the Charities SORP have been followed, disclosing and explaining any material departures 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 business. The trustees are responsible for keeping proper a¢counting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for ihe preventlOD and detection of fraud and other irregularilies. OBJECTIVES AND ACTIVITIES Objectives The charity is a public benefit entity and complies wilh its duty in section17{5} of the Charities Act 2011. Its objects are to advance the education of persons who have attained the age of 50 years and have retired from full time employment or are approaching retirement. It also aims to provtde or assist in the provision of tacilities for recr¢ation or other leisure time occupation for persons who have need of such facilities by reason of their age or economic background. It does through its Friends in Retirement (Fircone) movement Provide education and leisure activities for those people who have reached the age of 50 and are no longer in paid employmenl.
Chairman's review of activities and futur¢ d¢v¢lo ments Year ended 31st March 2024 The Bim]ingham Retirement Council is pleased to report another successful year for the Charity including attracting 35 new members. In April a spring and Easter raffle was organised by Stef Rickett raising £131. May saw another fund-raising event, a table top sale which raised a further £420. This income helped towards the purchase of a new waler heater for the kitchen and some electrical work. Throughout May we were lucky to have the services of th¢ charitable branch of J. Muby'S Building Contractors canying out sterling work on improvements to the car parking areas. This has resulted in at least 5 extra ¢ar park spaces being available to members, and entailed no cost to Birn]ingham Retirement Council. In May we were delighted to welcome a new Fircone repTesentative to the committee. Fiona Matthews. During June Stef Rickett asked if she could Teduce her days of work to 2, to which w¢ agreed. Mondays will be coi'ered on a rota system of committee members until a p¢m)anent resolution is arranged. A new short course for total beginners at Line Danctng was operated in September and October and this was well attended. Our thanks go to Sue Morse for suggesting and organising this. November saw a great joint effort to rl an Autunm Fayre which raised a splendid £850. Our sincere thanks to all involved. In Febary the Charity, Age UK, gave a very tnteresting talk to our members regarding the services they offeT to older people. It was well attended and the f¢¢dback from everyone was positive. The Hall Green Gardening Club kindly provided and fitted a large display screen in the ballroom, entirely at their own cost, for use by all our groups. A second Easter raffle (there were 2 Easter holidays in this financial year) Taised £203 and sales of Easter crafts nde by our memb¢rs raised an additional £70.
March was an exciting month seeing improvemenls in various areas including blinds in the 'tearoom', a new colour printer foi the office. a slorage unil for use by the short mat bowls group and total redecoration of the three toilet areas. A repair to the old roof to prevent leaking was carried out early in the year by the landlords. It has not been totally successful and there is an ongoing negotkation with the landlords to complete the work and make the premises dry and safe for our security advisor to continue to live in. The rise in session fees, ratified at the September 2023 AGM, has enabled the Charity to continue with one-off exp¢nses throughout the year, such as guttering repairs, defibrillator battery replacement a]Jd a new telephone systern. More fund-raising activities are planned for the year ahead. We would like to express our thanks to the staff, Malcolm Ford and Stefanie Rickett for their continuing support and also to our group leaders who give so freely of their time to provide a great experience for the over 50s. Our thanks go to the Lord Mayor and the City for their valued and appreciated support and patronage. Jill Gorst Chainnan September 2024
BIRMINGHAM RETIREMENT COUNCIL INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31" MARCH 2024 We report to the Trustecs on the examination of the accounts of the above Charity 'the Trust") for the year ended 31. March 2024. Responsibilities As the charity's trusteesy you are responsible for the preparation of the accounts and basis of report in accordance with the requirements of the Charities Act 2011 ("the Act") as des¢ribed on Page 3. You consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed We report in respect of our examination of the Charity's accounts Carried out under section145 of the 2011 Act and in carrying out our cxatnination, we have followed all the appli¢able Directions given by the Charity Comtnission under s¢¢tiOT] 145(5)(b} of the Act Independent examiner's statement We have completed our examination. I confirni that no mal¢rial matters have come to our attention in conn¢¢lion wittrt the examinatiott which give us Cause to believe that in, any malerial respect.. the accounting records were not kept iti accordan¢e with section 130 of the Charities Act. or the accounts did not accord with the accounting records. or the account.q did not comply with the appli¢able requirements concerning the form and content of accounts sel out in the Charities (Accounts and R¢ports) Regulations 2008 other than any requirement that the accounts give a "tme and fair, view which is not a matter considered as part of an independcnt examination. We have no concerns and have come across no other matters in connection with the examination to whi¢h attention should be drawn in this r¢port in order to enable a proper underslanding of the accounts to be reached. 13 August 2024 Accountants and Financial Advisors IS Stag Drive Huntington Cannock Staffordshire WS12 4 UJ
BIRMINGHAM RETIREMENT COUNCIL STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31" MARCH 2024 Unrestricted Funds Total 2024 Tolal 2023 Note INCOMING RESOURCES From generated funds FTOM charitsbl¢ activities From Other resourLeS 21,075 33,980 4,732 21,075 33,980 4,732 23, 139 26, 463 3,419 Total incoming resources 59,787 59.787 53,021 RESOURCES EXPENDED Cost of generated funds Charitable activities Governance costs 22,401 24,061 4,973 22,401 24.061 4,973 22,976 24, 088 5, J05 Total Tesources expended Net movement in funds 8J52 8J52 852 Balances blf as at I, April 2023 160,602 160,602 159. 750 Balances clf as at 31, March 2024 168,954 168.954 160, 602 All transactions are derived from continuing activities All recognised gains and losses are included in the Statement of Financial Activities The notes on pages 9 to 15 fonn part of these financial statements.
BIRMINGHAM RETIREMENT COUNCIL BALANCE SHEET YEAR ENDED 31" MARCH 2024 2024 2024 2023 2025 Note FIXED ASSETS Tangible assets 136,572 142,237 CURRENT ASSETS Debtors Cash at bank and in hand 4,732 31,673 3,419 19,519 36,405 22,938 CRFDITORS Amounts falling due within one year l O 4.023 4,573 NET CURRENT ASSETS 32,382 18.365 NET ASSETS 168,954 160,602 FUNDS General funds D¢signated funds 32,382 136,572 18,365 142,257 TOTAL FUNDS 168.954 160, 602 The not¢s on pages 9 to 15 forn] part ot these financial statements. Approved by th¢ trustees on 19 September 2024 and signed on their behalf by: J Gorst S Anderson
BIRMINGHAM RETIREMENT COUNCIL NOTES TO THE FINANCIAL ACTIVITIES YEAR ENDED 31" MARCH 2024 ACCOUNTING POLICIES Basis of preparation of finaneiAI statements The financial statements are prepared under the historical cost basis and include the results of the charity's operations which are described in the Trust¢es' Report and all of which are continuing. The accounts have been prepared in accordance with the Statement of Re¢ommended Practic¢ (SORP 2015) for charity accounts and the Charities Act 2011 Fund accounting Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are available for use at the dis¢retion of the trustees in furtherance of the general charitable objectives. Restrictsd funds are amounts that have been sel aslde at the discretion of the tnjstees. Incoming resources Inc()ming resources represents the total income receivable during the year comprising in the main, grants, donations and lettings. Equipmen¢ & Stock Equipment, Literature and Tearoom Supplies are written off in the year of purchase. Resourees expended All expenditure is a¢¢ounted for gross, and wh¢n incurred. Direct charitabl¢ expenditure includes the direct wsts of the a¢tivities and amortisation. Where such costs relate to more than one functional cost category, Ihey have been splil on an appropriate basis. Amortisatiou The leasehold property is being amortised over 50 years being the period of the lease.
INCOMING RESOURCES 2024 2023 Generated Funds Investment incom¢ Letting & other income Activities for generaling fimds Grants received Donations and legacies received Fund raising Subscriptions 19,175 17,678 3,175 279 1,527 480 1,550 350 21.075 23,139 From charitsble activities Fircone fees 33,980 26, 465 Other ineoming resour¢¢s Gift aid 4,732 3,419 Total Ineoming Resources RESOURCES EXPENDED Cost of generating funds Support costs Charitable activities Accommodation costs Support costs I,660 24,061 24, 088 Governance costs Support costs Total Resources Expended 51,435 52,169 io
SUPPORT COSTS 2024 2023 Staff Costs Salari¢s 25.473 24,575 25,473 24.575 Property Costs Rent and service charges Rates & Council Tax Heat, Light and Water Insurance Repairs, and alterations Lease amortisation 1,342 331 5.527 2,074 2,606 1,023 4,976 2.005 7,504 17,545 20,973 Gov¢rnanee Costs Travel & Subsistence 3,070 2, 690 Examiners fees Professional fees Photocopier Printing. postage and stationery I'elephone & internet Miscellaneous expenses 250 250 474 300 1,807 856 439 30 1,099 I,ooi Alloeation of Support Costs Cost of Gen¢rating Funds Charilable Activities Total Governance Staff Costs Property Costs Governance Costs 25,473 17,545 6.757 11,463 7,897 3.041 1,463 7,897 3,041 2,547 1,751 675 Support Costs have been apportioned between the costs of managing propety, charitsble activity and governance using an estimate of staff time being 450/0, 450/0, and lOQ/ respectively. Any fundraising is done by trustees or volunteers.
EMPLOYEES AND STAFF COSTS 2024 2023 In aggregate the number of fiEII and part time persons employed during the year in rnanag¢mvnt and central services were (Apr-June) 3 (July-Aug) 3 (Sept-Dec) 3 ((Dec-Mar) 3 Staff costs were as follows.. Salaries £25,473 £24,575 No employee receiv¢d emoluments greater than £50,000 (2023 £NIL) EXECUTIVE COMMITTEE REMUNERATION & REIMBURSED EXPENSES No men]ber of the trust¢es received remuneration for their services during the year (2023 £NIL) No member of the trustees received any reimbursed expenses during the year (2023 £NIL) TANGIBLE ASSETS Leasehold Property Cost I" April 2023 Additions 283,261 31" March 2024 283.261 Depreciation l April 2023 Charge for the year 141.024 5.665 31, March 2024 146,689 Net Book Value 31" March 2024 136 572 12
2024 2023 9 DEBTORS Debtors and prepayrnents CASH AT BANK & IN HAND Bank current account Cash in hand Petty Cash 31,550 43 80 19,413 26 80 31,673 19,519 10 CREDITORS Amounts falling due within one year 4.023 4,573 I I DESIGNATED FUNDS Building Fund Balance at I, April 2023 Amortisation 142,237 5,665 147,902 5.665 Building Fund Balance at 31" March 2024 136,572 142,237 12 ANAL YSIS OF NET ASSETS BETWEEN FUNDS Restrieted Funds NIL NIL Unrestri¢ted Fund$ Tangible assets Current assets Current liabiliti¢s & provisions 136,572 36,405 142,237 22,938 Total Net Assets 168 954 160 602 13
13 OPERATING LEASE COMMITMENTS At the 31" March 2024 the charity had no annual commitments under non-cancellable operating leases. 14 INCOME & EXPENDITURE SUMMARY AND ANALYSIS 2024 2023 INCOMING RESOURCES Total incoming r¢50urces 59,787 53,021 RESOURCES EXPENDED Staff costs A(Iministration costs Amortisation 25,473 20,297 5.665 24,575 21,929 5, 665 Total resourees expended 51,435 52,169 INCOMING l {oirrGOING) RESOURCE 852 14
ANALYSIS INCOMING RESOURCES 2024 2024 2023 2023 Grants r¢c¢ived Donations & legackes Group fees Subscriptions Fund raising InN'estment income Letting & other income Gift aid 3,175 279 26,463 480 1,527 33,980 350 1.550 19.175 17.078 Total Income 59,787 53.021 RESOURCES EXPENDED DETAIL STAFF COSTS Salaries 25.473 24,575 ADMINISTRATION COSTS Rent and Service Charge Professional Fees Accommodation Hire Printing, postag¢ and stationery Photocopier Teleph()ne & Internet Miseellaneous expenses Travel & Subsistence Heat, Light and Water Insurance Repairs and alterations Rates and Council l'ax 250 1,660 300 474 1,807 856 3,070 5,528 2.073 2,606 1,673 250 I,lJ2 50 439 1,099 I,ooi 2, 690 4,976 2, 005 7,304 20,297 21,929 AMORTISATION COSTS Amortisation- leasehold property 5.665 5,665 Total Expenditure 51.435 52,169 OUTGOING RESOURCES 852 15