ROTARY CLUB OF NEWBURY ACCOUNTS FOR YEAR ENDED 30 JUNE 2024 INDEX Pag• Council and Trustees Report Report of the Accountants to The Rotary Club of Newbury Income and Expenditure Account Balance Sheet Report of the Independent Examiners to the Trustees of the Benevolent Fund Benevolent Fund Income and Expendllure Accounl 10 Benevolent Fund Balance Sheet 11 Notes lo the Benevolent Fund Income and ExpenditUTe Account 12-15 Page11
ROTARY CLUB OF NEWBURY COUNCIL AND TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Board of Trustees presents its annual report together with the financial statements of the charity for the year ended 30 June 2024. The financial statements have been prepared in accordanGe with the accounting policies sel out in note 2 to the accounls and comply with the charity's Trust Deed, the Charities Act 2011 and Accounting and Reporting by Chanties.. Statement of Recommended Practice applicable lo charities preparing their accounts in aGcordancè with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Obj•ctiv•s and Actlviti08 Rotary aims to encourage and foster the ideal of Servi principally amongst the local community but also, to a certain extent. nationally and intemationally. Each member of the club is allocated to one of the service committees. These service committees are.. Community seiCe and Vocational, Membership and Recruitment. International and Foundalion,. Fund Raising,. Youth Services, Publicity and Media Affairs. The chairpersons of these committees report lo the Club Council. These cofflmittees organise community welfare and fundraising projects, which are relevant to the purpose of ihat particular committee, to fulfil the club's objeGtives. The purpose of the Club's charity ami, the Benevolent Fund, is to raise funds through the work of the various committees lo provide financial assistsn¢e in cases of sp8cial n88d and to support such other charitable institutions, organisations and societies as the Club shall. in duly constituted meetings, from time to time direct. Achlevements and Performance The Club's adivities include Quiz Nights. the Boules Toumament in Newbury Market Place, and the Sant8 Fun Run in December. We also carry outthe Club's Stewardship at Civicevents and assistance with other Charities, sponsored walks and collections. The Club has continued to support the Rotsry Foundation Charity (which in tum supports th8 Polio vaccination programme) and has provided support for organisalions in the Newbury area and our Tanzania Project. Public 8onefit The trustees have referred to the guidance contained in the Charity Commission's general guidan on public benefil when reviewing the charrty's purposes and aims, and when planning future activities. In particular how planned activities will contribute to the achievement of the objectives and aims. They are satisfied thal the Trust's aims and objectives and overall activities in serving the local community confomi with the established requirements. Page12
ROTARY CLUB OF NEWBURY COUNCIL AND TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Futuro plans The Club plans to continue its traditional activities and to take a full part in the local community. The Phoenix Satellite Club, which was fomed for business p80ple with like minded id8als without the lotsl fomiality of Rotary. The Club encourages them with their own charitable and fundraising activities in parallel to the main Rotary Club. Financial Review During the year, an income of £31,625 was generated from a number of fund-raising events and the receipt of various donations. including £6,837 for Ihe Tanzania Project.. Payments approved by the Trustees amounting to £15,948 were distributed to a number of charities and local organisations. These included £2,300 to the Rolary Foundation and activities for a various local groups. Donations totslling £12.056 included £900 to West Berkshire Therapy Centre, £2.800 to Time to Talk, and £1,500 lo Newbury Riding for the Disabled and various smaller amounts. Also. a school self-help project in Tanzania, largely driven by two of our Newbury Rotarlans, was also supported, including a grant of £1,248 from Rotary District 1090. with funding of £5,906. Overall. ihere was a surplus of income over expenditure of £15,676 whlch has increased the value of Ihe Benevolent Fund to £41,328. Some of this surplus is held pending matched funding opportunities. Reserves and Grant Making Policy These ar8 clos8ly rèlated. The Trustees seek broadly to equate year on year the amounts received and distributed, There is a steady flow of requests from various quarters. Each request for support is considered on its own merits with the trust88S tending to favour donalions that will benefit identifiable groups and individuals based wilhin the area of the Club bul, depending upon the availability of funds, donations are made to int6mational disaster appeals and overseas charitable proj8cts. It is the trustees, policy to maintain a minimum reserves balance of £3,000 to enable the Club to respond at any time to requests of an urgént and immèdiate nature. At the balance sh8et date. the bènevolent funds amounted to £41,328, and the surplus funds will be available for distribution lo worthy causes during the coming year. Structure. governance and managemènt The Rotary Club of Newbury operates under the auspices of the Rotary Club of Great Britain and Ireland and includes the Rolary Club of Newbury Benevolent Fund. This fund is constituted by a trust deed dated 23 September 1969 and is a registered charity number 261003. Its address is at The Old School House, 42 High Street. Hungerford RG17 ONF. P8ge13
ROTARY CLUB OF NEWBURY COUNCIL AND TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure. governan and managom8nt Icontinuedl The Club The Club's governing body 15 trte Clvb Council which, in addition to its i)ffi¢erE. consists of a number of elected members. The Club Counoil for the year under review comprised the following members.'_ Janel Lister Vacanl Nick Burraslon Paul Bowers Phil Kinzett-Evans Les Osmon Chris Philip John Philip Tim Prilchard Alison Stanton Irene Waters Eddie Webb Roy Wood President Vice President Secretary Treasurer The Charitable Benevolent Fund The Trust Deed provides for four Trustees and the following members held such office durlng the year.. Julian Dickins Stuart Lashford Kalh Nurse John Winchcombe When a vacancy occurs among the Trustees, the continuing Trustees initially disc#Jss this. They Ihen make a recommendalion to Club Council, the Club's governing body. Club Council then make a proposal to the Club as a whole in general meeting, following which the appointment is ma(Je. New Trustees are made aware of their responsibilities and they familiarise themselves with the governing éocumenl, administrative procedures and the objects of the charity. The Trustees periodically review the risks that the charity faces and take steps lo minimise such risks partwlarfy those associated with the distribution and control of funds and health and safety issues. Professional Advisèrs Banker: Nal Wesl Bank 30 Market Place Newbury Berkshire RG14 SAG Independent Examiner.. PBA Accounlanls and Business Advisers Limff(ed Ramsbury House Charnham Lane Hungerford Berkshire RG170EY P8ge14
ROTARY CLUB OF NEWBURY COUNCIL AND TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Statsment of Council and Trustees, r8sponslbllltS08 The Council and Trustees are responsibl8 for preparing the Trustees, Report and the financial statements in accordance with applicable law and regulations. Charity law requires the trustees to prepare fin8ncial slatements for each financial yèar in accordan with United Kingdom Generally Accepted Accounting Practic& (United Kingdom Accounting Slandards) and applicable law. Under charty law the council and trustees must not approve the financial statemenls unlgss they are satisfied that they give a true and fair view of the state of affairs of the charity and of its net incomingloutgoing resources for that period. In preparing these financlal statements. they are required to: select suitable accounting policies and then apply them consistently., obserye the melhods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent., stat8 whether applicable accounting standards have been foll0vd, subject to any material departures disclosed and explained in the financial statements., prepare th8 financial statements on the going conrn basss unless It is inappropriate to presum8 that lh8 charity will continue to operate. The coundl and trust8es ar6 responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy al any time Ihe financial position of the charity and enable them lo ensure that the financial statements comply with th8 Chariti8$ Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charty and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees, Report has been approved by the Trustees on 24 April 2025 and signed on their behalf by'.- Julian Dickins On behalf of the Councll and Trustees Page15
REPORT OF THE ACCOUNTANTS TO THE ROTARY CLUB OF NEWBURY CLUB COUNCIL ON THE PREPARATION OF THE UNAUDITED ACCOUNTS In accordance with the engagement letter, we have prepared for your approval the accounts of the Rotary Club of Newbury for the year ended 30 June 2024 as sel out herein from your accounting records and from infomation and explanations you have given us. As a praclising member firm of the Association of Chartered Certified Accountant (ACCA), we are subject to ils ethical and other professional requirements which are delailed at htt s.'Ilwww.acca lobal.coml blanlmemberlstandardslrules-and-standardslrulebook.html. This report is made solely to you in accordance with the tèrms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of the Rotary Club of Newbury and state those matters that we have agreed to state to you in this report in accordance with Ihe guidance of ACCA as detailed at http.'Ilwww.accaglobal.comlcontenVdamlACCA GlobairrechnicallfactAechnical-factsheet- 163.pdf.. To th& fullest exlent permitted by law, we do not accept or assume responsibility to anyonè other than you, for our work. or for this r8POrt. You hav8 approved the accounts for th8 year ended 30 June 2024 and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all the infomiation and explanations necessary for the preparation of the accounts. We have not verified the accuracy or completeness of the accounting records or infomiation and explanations you have given to us and we do not, therefore. express any opinion on the accounts. Dats: 2025 PBA Accountants and 8uslness Advisers Limited Chartered Certified Accountants Ramsbury House Charnham Lane Hungerford Berkshire RG17 OEY Page16
ROTARY CLUB OF NEWBURY GENERAL FUND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDING 30 JUNE 2024 2024 2023 INCOME Annual Subscriptions Dinner Subsidies Donations Functions, Outings ar Visits 2.891.00 11,020.00 594.86 18,106.86 3,305.00 10,590.00 356.00 10,503.92 32.612.72 24,764.92 EXPENDITURE RIBI HQ Fees RIBI District Levy Club Goods Dlnner Subsidies Costs President's Allowance Sundry Expense5 Functions. Outin9s and Vlsits Surplus on fvnrtions donated to Benevolent 2.388.67 522.00 151.20 10,935.50 2,432.50 630.00 108.00 10,147.00 250.00 6g9.38 3,000.05 7,503.87 750.40 7.490.49 10.616.37 32,854.63 24,770.80 D¢fi¢lt for tho year 1241.91) (15.88) Page17
ROTARY CLUB OF NEWBURY GENERAL FUND BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 ASSETS Fixtures & Fittings President'5 Jewel 1.00 1.00 stock of Club Goods 1.00 Cash al Bank 484. 8.487.83 8,898.74 Less Sundry Creditors Dinner refunds {1.783.00) 161.00) { 2,013.001 Other creditors 6,643.83 6,885.74 Represenled by ACCUMULATED FUND Balance a5 at 1 July 2023 Deficit for the Year 4,980.64 (241.91 } 4,738.73 4,996.52 {15.88) 4.980.64 Environmental and Conservation Fund Balance al 1 July 2023 1.5.10 1.905.10 6.885.74 6,643.83 Pagg18
REPORT OF THE INDEPENDENT EXAMINERS TO THE TRUSTEES OF THE ROTARY CLUB OF NEWBURY BENEVOLENT FUND We report to the trustees on my examination of the accounts of the Rotary Club of Newbury Benevolent Fund (the Tru8tl for the year ended 30 June 2024. which are set out on pages 10 to 15. This report is made solety to the ¢harity's trustees, as a body. in accordan with section 154 of the CharitiesAd 2011. My independentexaminerfs work has been undertaken so that I might state to the charity's trustees those matters we are required lo slate to them in an independent examinerfs report and for no other purpose. To the ftjllesl extent permitted by law, we do not accept or assume responsibility to anyone other than the charity, the charity's members as a body and the charity's trustees as a body frjr my independent examinerfs work, for this report, or for the opinions we hav8 fonned. Responslbllltles and basls of report As the charty trustees of the Trust you are responsible for the preparallon of the accounts in accordance wlth the requirements ofthe Charities Act 2011 {'the Acf). We report in respect of our examination of the Trust's accounts Caled out under section 145 of the 2011 Act and in caTrying out my examination we have followed 811 the applicable Directions given by the Charity Commission under s8Ctlon 14515)(b) of the Act Independent examiner's statement We have completed our 8xamination and confirm that no material matters have come io our attention in connection with the examination giving me caus8 to believe that In any material respect: accounting records were not kept in reS¢t of the Trust as required by section 130 of the Act., or 2. the accounts do not accord with Ihose records,. or 3. the accounts do not compty wlth the applicable r8qulrements concerning the form and content of accounts set out in the Ch8rities {AccountS 8nd 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 examinats'on. We have no concems and have come across no other matters in connection with the examination to whl¢h attention Should be dr8wn In th1$ report in order to enable a proper understanding of the accounts to be reached fg4 PBA Accountants and Buslness Advlsers Llmlted Chartered Certified Accountants Ramsbury House Chamham Lane Hungerford Berkshire RG17 OEY. Date.. Ismq 2025 Page19
ROTARY CLUB OF NEWBURY BENEVOLENT FUND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDING 30 JUNE 2024 2024 2023 INCOME Members Donations lo Foundation Fellowship 2,465.00 Sundry Donations lo Benevolent Fund 2,877.60 Tanzania Project 6,837,33 District Grant 1.248.00 Heads & Tails 224.00 Social Suppers 220.00 Gifl Aid 2,805.78 Afternoon Tea Christmas Raffle Draw Riviera Commisslon 1,137.00 4.811.80 5,187.50 1.470. 256.00 410.00 5,003,36 963.73 2,530,23 207.80 2,591.57 1.739.40 Donations from Club Events Quiz Nights Santa Fun Run Boules Welsh Choir 2.499.97 1,594.56 4,714.61 1,807.23 2.254.70 1,007.27 4,241. 31,625.05 29,481.29 EXPENDITURE RIBI District 1090 Foundation Fellowship Tanzania Project Canal Boat Outing Mayor's Variety Concert 2.300.00 S,6.50 800.00 792.00 2,830.1)0 10,491.00 1.370.00 Donations {Benevolenl + Phoenix) 6.150.00 13,375.00 15.948.50 28,066.00 Surplus for the year 15.676.55 1.41 S.29 Page | 10
ROTARY CLUB OF NEWBURY BENEVOLENT FUND BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 ASSETS Cash at Bank (Benevolent + Phoenlxl Less Creditors 42,946.15 27.629.58 Held for Interact 1,617.61 1.617.61 359.98 Other Creditors 41,328.54 25,651.99 Represented by ACCUMULATED FUND Balance as * 1 July 2023 Add Surplus of Income over Expenditur8 25,651.99 15.676.55 24.236.70 1,415.29 41.328.54 25,651.99 Page111
ROTARY CLUB OF NEWBURY BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 1. CHARITY INFORMATION The principal activity of the tharity is the provision of grants to provid8 assistance in cases of special need and to support other charitable institutions. organisations and societies. The Charity {ch8rity number 261003) is domiciled in the UK. The address of the registered Offi is The Old School House, 42 High Street, Hungerford RG17 ONF. 2. ACCOUNTING POLICIES al Accounting Convention The 8ccounts have been prepared in accordance with the Charitles SORP (FRS102) applicable to charits'e$ prep8ring their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Prdcti as it applies from 1 January 2015. Th8 accounts have been prepared lo give a 'true and fair, view and have departed from the Chartties (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view.. This departure has involved following Accounting and Reporting by Charities pr8paring their accounls in accordance with the Financial Reportlng Stsndard applicable in the UK and Republic of Iland IFRS1021. The Rolary Club of Newbury Benevolent Fund meets the definition of a public benefit 8ntily under FRS 102. Assets and liabilitie5 are initially recognised 8t historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The trustees have reviewed their operations and amended their grant making in order to ensure that they have sufficient facilities in place to meet their operating cash requirements for the fore888able future. Having regard to the above. the truslees believe il appropriate to adopt the golng concem basis of accounting in preparing the financial statements b) Critical accounting judgomonts and key sources of estimation uncertainty In the application of the charity's accounting policies, trustees are required to make judgements, estimates and assumptions aboul the carying value of assets and liabilities that are not readlly apparent from other sources. The estimation and underlying assumptions are based on historical experience and other faGtors that are consid8red lo be relevant. Actual results may differ from these estimates. The estimates and underlying 8ssumptions are vieWed on an on-going b8Si8. Revisions to accounting ests'mates are recognised in the period in which Ihe estimate is revised if the revision affects only thal period, or in the p8ri0d of revision and future periods if the revision affects the current and fijture periods. In the view of the trustees. no assumptions concerning the future or estimation uncertainty affecting the assets and liabilities at the balan sheet date are likely to result in a material adjustment to their carying amounts in the next financial year. Page | 12
ROTARY CLUB OF NEWBURY BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 30 JUNE 2024 2. ACCOUNTING POUCIES (contlnued ¢) Flnanclal Instrumonts The charity only has financial assets and flnancial liabllSlles of a kind Ihat qualify as basic financial instruments. Basic fin8ncial instruments are initialty recognlsed at transactlon value and subsequently measured at their settlement value. d) In¢omg All incoming resources are Sncluded In the statement of flnancial activtties when the charity is entlded to the Income. receipt is probable, and Ihe amount can be quantified wth reasonable accur8Cy. e) Exp•ndituro Expenditure is recognised on 8n accrual basis as each liability Is incurred. Grants payable are included where the grant has been agreed during the year and there are no conditions to be met relating to the grant which remain in the control of the charity. fj Llabllltles Liabilities are recognised 8$ resources expended as soon as there Is a legal or constructive obligalon commlttlng the charity to the expenditure. g) Creditors and provisions Creditors and provisions are recognised when the charity h88 a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the oblatIOn can b8 m6asur8d or estimatèd rÈli8bly. h) Cash and cash oquivalents Cash is represented by cash in hand and deF)osits with financial institutions repayable without penalty on notirE of not more than 24 hours. Cash equivalents are highty liquid investments that mature in no more than three months from the date of 8¢qulsition and that are readily convertible to known amounts of cash wilh insignificant risk of change in value. Pagel 13
ROTARY CLUB OF NEWBURY BENEVOLENTFUND NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THEYEAR ENDED 30JUNE 2024 DONATIONS 2024 2023 NWN Christmas Parcels Fund Friends ofyoung Carers Rotary Club of Stvincent Homestart West Berkshire Therapy Centre Salama Project Wateraid West Berkshire Mencap Fairclose Day Centre The Samaritans Turning Point Parkinsons UK Newbury Shelterbox Wallingford Petanque Time to Talk Thatcham Rotary Club New Life West Berks Homeless Orphanage India Daisy's De8m Newbury Ridingforthe Disabled 300.00 300.00 100.00 1,000.00 1.100.00 2.300.00 500.00 150.00 1,300.00 725.00 150.00 250.00 300.00 300.00 200.00 2,350.00 150.00 1,100.00 900.00 2.800.00 250.00 100.00 300.00 1,500.00 1.100.00 Totals 6,150.00 13.375.00 PlusTanzania Project donations 5.906.50 12.056.50 13,375.00 Page | 14
TRUSTEES, REMUNERATION AND EXPENSES None of the trustees received any remuneration or reimbursed expenses duringthe year There were no related patytransactions during the year ROTARY CLUB OF NEWBURY BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THEYEAR ENDED 30JUNE2024 FINANCIAL INSTRUMENTS 2024 2023 Financial assets measured at amortised cost Financial liabilities rneasured at amortised cost 42,946.15 1.617.61 27.629.58 1.977.59 The charity's income. expense. gains and losses in respect of financial instruments are summarised below: Financial assets measured at amortised cost Financial liabilities measured at amortised cost Financial assets measured at amortlS8d cost cornprise debtors and cash Financial li8bilities measured at amortised cost comprise other Creditors and accruals Page | 15