Chartty reglstrdtlon number 279500 (England and Wal¢$) ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Paul Wood Mr Barry 8adham Mr Umar Choudury Mr DavK1 Payne Charity numbèr (England and Wales) 2795CK) Principal address The Old Byre Pleadow Farm Wolverton Stratford upon Avon WaThwd(shire CV37 OHG Independ•nt •xaminer JerToms Lumaneri House ythe Gate ythe Valley P8th Solihull West M¢dlands 8AH
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST CONTENTS Pag• TTuslees' rèrK)rt Independent examinerfs Stalemer)t of financial activities Balance sheet Notes lo the finarrial ststements 6-11
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2023 The trustees pfysent their annu report arKI finarnial ststements for the year ended 5 April 2023. Thè financial statèments have been prepared in accordance with the acccmjnting polKies set out in note 1 to the rinancial statements and comply with thè trusfs govèming d(Kument, thè Charities Act 2011, FRS 102 "The Finanaal Reporting Stanrta appticable in the UK and Republic of Irdand" and the charib.es SORP "P£¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021". Obl•ctlv•s and activlties The Trustees have absolLrte discretion in applying ihe annual incolne of the Trust for charitable purpose5. Although thè arèa ol ben8fit is wortdwi(5e, traditionally chantses in the West Midlands and those connected with Rotary have been favoured. Public ben8fil The trustees have paid due regard to guanCe issued by the Charity Commission in deciding what activities the trust should undertake_ Financi31 ravièw The Trustèès considgr that Ihe rfOrn)ance of the Trust was satisfactory and in line with its objectives. Brewin Dolphin Limited, investment managers to the Tnjst. continued managing Ihe investmenl portfol on a discretionary basis. At S April 2023, the net assets of the Trust stood at £1.039,359 compared 7Ath the prevbJus year of£1,098,475. Reserv8s policy The operatin9 8xpÈnses of the Trust ale not svjnificant. and therefore. no reserve potKy lo cover these is needed. The accumulated funds are invested 8n¢J availa1 to meet thtr objects of ts TrusL Structuro. 9overnan¢e and manag•mtnt The Trust is a registered thaity (number 2795001 eslabfished under a trust deed dated 29 November 1979. The tnjstees who served durirftj the year aThJ up to the date of signature of the finanryal 5tsternents were". Mr Paul Wood Raymond Dickson (Deceased Client) Mr Bary Badham Mr Stuart Guy MrAnthony Chartey Mr Umar Choudury Mr David Payne IDerEased 14 February 20241 (Resigned 6 January 2025) (Resigned 6 January 2025} ReGruilfftent and appointment of trusle&s Thè èx-officio trusteèships relating to the President and the TaSurer ol The Rotary Club of 8irmingham change by annual appointment. The Trust has a plan in a¢e to iilenlify and train new Trustees a$ and when they become aware of individuals with an intefest in its activities. or when it is percewed that 8 Trustee h8s an addrtion81 skill set, to complement those hèld by the oJrrent Trustees, as QUired.
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 ststemènt af Trustees. responsibilities Charity legislation qUireS Truslees to prepare fin8nri81 ststements for each fin8n(ial year which gtve a true 8nd fair view of the incoming resources and appli(2tion ol resources for that per. In preparing the acwurrt5. suitsbl8 accounting policies have been adopted and wnsistently apTred to the best of the Trustees. knowled and belief, by reference to asOnable and prudent judgements and estimates. AplIable accounting standards have been followed. The Tnjstees are fesponsible for maintsiniry adequate a¢¢ounting records, for safeguarding the assets of the Charity and for prevenb.ng and detecting fraud and other irwularilie5. The TnJstees are also required to indicate where the finanri81 statements are prepared other than on the basis that the Charity is a going concern. Independart Examinerfs Report It Ès the intention of the Trustees to reappoint Jerroms for thè coming year. ' report W8$ approved by the Board of Trustees. Mr Paul Wood Trustee 6 May 2025
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST I report to the trustees on my examination of the financial 5talements of Rotary Club of Bimiinghaln Endowrnent Trust (the tNstl for the year ended SA1 2023. Responsibilities and basis of report A5 the trustees of the trust you are reSponsie for the prepara1n of the financial statemenls in accorclance with the reqU1ments ol the Charities Act 2011. I report in respect of my examinatton of the tnJst's financial ststements carried out under section 145 of the Charities Act 2011. In carying out my examination I have followed the Directsons gNen by the Charity Commisson under sectK)n 14515llbl (rf the Charities Act 2011. Independent examinerfs stat•m•nt Your attention is drawn lo the fact that the charity has prepared the financial statements in accordance with the rdevant version of the Ststement of Recommended Praclice applicable to charities preparing ther financial statements in 8rLordanc8 wth the Finar*cial Reportln9 Standard applicat in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Chanties.. Stalemenl of Recornmended Practice issued on 1 April 2005 which Is referred lo in the extant regulations bul has now been wthdrawn. l understand that this has been done In order lor the financial statements to prowde a true and fair ¥iew in accordance with UK Generally Accepted Accounting Practice. I havè Completed my examination. l (x)nffimi th8t no matters have come to my attention in conneclion with thè examination giving me cause to believe that In any malerial respect.. accounting reojrds were not kept in respect of the trust as required by sectK)n 130 of the Charities Acl 2011. the financial ststernents do not accord with those records." or the financial statements do not comply wth the applicable uIreMents concerning the fom and content ol financial statements set out In the Chariues (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and tsir ew, 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 whtch 8ttention shoul drawn in this report in order to enatAe a proper understandin9 01 the finanual statements to be reathed. horto.. Richard Horton FCCA Charte Certified Accountant Jerroms Lumaneri House Blythe Gale Blythe Valley Pa Wgst Midlands B90 8AH 6 May 2025
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrestrictgd Restrirt•d funds fvnd5 2023 2023 Total Unrestrlcted Re5trictsd funds funds 2022 2022 Total 2023 2022 Nol•s Incomè from: Investments 35.081 35.081 32.656 32,656 Totsl Income 35,081 35.081 32,656 32,656 Expenditurè on: Raising fun¢Js Charitsble activities Other expenditure 7.363 32.387 1,660 7,363 32,387 1,660 8,045 35.600 8,045 35,600 10 Totsl •xpendlture 41.410 41,410 43.645 43,645 Net gainslllossesl on investments 11 152.7871 152,787) 77.367 77,367 Nèt Incomellexpenditure) and movement in funds 16,3291 152.787) 159.1161 110.9891 77.367 66.378 Reconeiliation of lunds: Fund balanc£s at 6 April 2022 16,561 1,081.914 1.098.475 27.550 1,004,547 1.032,097 Fund balances at S April 2023 10.232 1.029.127 1.039.359 16.561 1,081,914 1,098,475 The statement of finanraal acbvities indudes al gains and losses recognised in the year. Al in(x)ffle and expenditure deve from ¢ontinuin9 activities.
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST BALANCE SHEET ASAT5APRIL 2023 2023 2022 Note5 Flxed assets Investments 13 1,8,785 1,051.027 Current assèts Cash at bank and in h8nd 32,574 57,797 Cr•ditors'. amounts falling due within one year 14 12,¢XKJI (10,3491 Net ¢urr¢nt assets 30.574 47,448 Total assets less current liabilities 1,039,359 1,098.475 The funds of the trust Restricted income fvnds Unresiricted funds 15 16 1.029.127 10,232 1,081.914 16.5£1 1.039.359 1,098.475 Th oal statements were approved by the trustees on 6 May 2025 LOA Mr Paul Wood Trusteg
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accounting polici¢$ Charity infomiation Rotary Glub of Bimingham Endovm)ent Trust is an endowment Injst esta1Shed by The Rotsry Club ol Bimingham under a trust deed datèd 29 November 1979 to generate incomg in order to assist charities and other good causes. 1.1 Accountlng convention The financial statements have been prepared in accOrdare the trusfs govemin9 L¥ocument. the Ch8rit&&s Act 2011. FRS 102 Yhe FinancAal ReporD"ng Standard applicable in the UK and Republic of Ireland. and the Charities SORP "Accovnting and Resx)rtirNJ by Charrties.. Statement of Recommended Practice applicable to charities preparing their accounts in #C8nce with the Finanaal Reporting Slandard applirAble in the UK and Republi¢ of Ireland IFRS 1021". The trusl is a Benefft Ents"ty as defined by FRS 102. The trust has taken advantage of the pffjvtsions in Ihe SORP for charities not to prep8ffj 8 ststsmwl of ¢8sh flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 onty to the extent required to provide 3 true and fair wew. This departure has involved Idlowing the Statement ol Recommended Practice for th8fib85 applying FRS 102 rather than the version of the Ststem8nt of Recommended Practice which is efed to in the Regulations bul which has since been withdrawn. The financial st2tements are prepare(l in sterfing, which is the functional currency of the tW51. Monetsry amounts in these financial statements are rourKled to the nearest £. The financial statements have been prepartrd undèr the historical cost convention. Imodffieij to include the revaluation of freehold properties and to indude investment properbes and ¢Èrt3in financial instruments at fair Valuel. The prinapal accounting poli¢ies adopted ar8 set cmjl bebw. 1.2 Going concern At the time of approwng the fin3n(ial statements. the tnjslees have a reasonable expect8b.on that the trust has adequate resources to continue in operational existence for the fOSeeable future. Thus the tru5t8es conb'nue to adopt the going Ix)ncem basi5 of accovnliThJ in prep8riro the finanrAal statements. 1.3 Charitable fund5 Unrèstricted *Jnds are availab for use at the discret of the twstees fijrtherancè of thgTrr ¢haritsbl8 objectives. Restricted lund$ are subject to specific condrtions by donors Ix grantors as to how they may be used. The purposes and uses of the restn.cted fijnds afe set out in the notes lo the finanfial stsleinents. En¢Jowmènt funds are SLFbiect to specthc (xJndib"on$ by donors that the capital must be maintained by the trust. 1.4 Income Income 15 recogntse(I when the trust is kgally entitied to it after arry porformance conditions have been met. the amounts can be measure(I reliably, and it is probable that income will be ¢1ved. Cash donations are recognised on rewpL Olher donations are recognised once Ihe Injst has been notthed ol the donab"on. unless performance conditions requiTe deferral of the arrK)unt. Income tax recoverable in relation to donations received undei Grftd or deeds of covenant is rewgnised al Ihe time of the donation. Legacies are reco9nised on receipl or OtheSe rf the trust has been notified of an impending distribution. the amount is known, ano receipt is expected. If the 8mount is not known. the legacy is treated as a contingent asset.
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 5APRIL 2023 Accounting policies Icontlnuedl 1.5 Expenditurè Expenditure is recognL8ed On there is a legal or conslrucbve oiAigab"on lo trarbsfèr economic benefit to third party. it Is probable that a transfer ol economic benefts will be required in setd&ment. and the amount of the obligation can be measured reliably. Expenditure is d8ssified by activity. The costs of each 8¢tivity a made up of the total of dIt cost5 and shared costs. including 5LlPPOrt costs Involved in undertaking each activity. Dirert Costs altnbutable to a single activity are allocated direcuy to that activty. Shared costs which contribute to more than one ath.vity and support costs which are not attributable to a stngle activity are apptsrts"on8d b6tween Ose activitEs on a basis consistent with the use of rèsources. Central staff costs are allocated on the basis of time spent, and depreciation charge5 are allocated on the p<ts"on ol the asset's use. 1.6 Flxed asset investments Fixed asset investments are inib.ally measured at transaction pri exdtjding trans8cb.on (x)515. and ar8 subsequentty measured at fair value at each reporting date. Changes in lair value are reccgnised in net incom8lle¥penditurel for year. Trans costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalent5 indude cash ni han¢J, deposits held at call with banks. other short-tem) liquid investments with original tn8turities of the months or less. and bank overdrdfts. Bank overdrafts are shown within borrowings in cufrenl liabilibes_ Basic financfflal assels Basic financial a55et5. which indud deblors and cash and bank balances. arè inib.ally mèasured at transaction price induding transaon costs and arè sut)seqL%ently Carr at arnortised cost Usin9 the effective interèst method unless the arrangement constitut8s a financing transacb"on, Whe the transaction $ rneasured at the present value of the futts rece&pts discounted at a matket rate ol interest. Financial asseis classified as recewable within year a not aM0se. 84sic financial liabillti•s Basic financial liabilities, Including tdItorS and bank loans are initlally recD9lllsed * transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financk41 liabilities classified as payable thin orse year a not aM0Se. Debl instruments are subsequendy carried at amortis8d cost. using the effedive interest rate method. Trade creditors are obligations to pay for gcmxss or seNces that have been acquifed In the Drdinary course of operations frorn suppliers. Arnounts payab are classffied as cvrrenl liabilities if payment Is due within one year or less. If not, they are preserhted a5 non-IXlTrent liabilits'es. Trade creditors are recognised InallY at transaction price and subsequently measured at amorbsed cost u&ng th8 effective inlefest method. Dorecognition of financial liabilityes Financial liabilities are derA)gnIse(l wh8n the trust's contractual 0ts4igations expire OT are discharged or Canlled. 1.8 Employee benefits The cost of any unused hdKlay entrtlèment is rec(yJnised in the pemd in which the ernOYee'S services arg received. Tem)ination benefits are recognised imrnediately a5 an expense when the trust is demonstr8bly committed to terminate the employment of an employee or to pmMde termir¢ats'on benefits.
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Crltleal a¢¢ounting estlmates and judgements In the application of thg tnjst's accounb.ng pohci&s, thè trustèès arè r8qiJired to makè jud9trmonts. 8stim8le5 and 85sumplions about the carying amount of assets and Iiabilitses that a not readily apparent frorn olher sources. The estimates and associated assumptions a based on historical experience and othef factors that are considered to be relavant. Actual rèsults may diffei from thèsè esh"mates. The estimates and underfying assumptions are revieed on an or¥Joing basis. Rewsions to accounting estimates a recognised in the period in whith the esb.mate is Sed where the rèvision affects (nly that period. or in the period of the revision and fvture periods Whe the revision affects bcth current and luture periods. Incomè from investments Unrestricied Unrèstrictèd funds funds 2023 2022 In¢ome from listeil investments 35.081 32,656 Expenditure on raising funds Unrestriet•d Unrèstricted funds funds 2023 2022 Investment management 7,363 8,045 Expenditure on charitable activities 2023 2022 Direct costs Accountancy 2,007 500 Grant funding of acti¥7tie5 {5ee note 61 30.380 35,100 32,387 35,600 Analysis by fund Unrestricted funds 32,387 35.600 Grants payable 2023 2022 Grants to institultons.. Oiher 30,380 35.100
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED S APRIL 2023 N•t movèmènt in funds 2023 2022 The net movement in funds is stated after thargIn(Crediting)". Fees payable for Ihe irKlependent examination of Ihe charity's fina13 statements 550 Trustees None of the trustees lor any pe$ connectéd wth them) received any remuneration or benefits from the trust during the year. Employees The av8r898 monthly number of employees during the year was.. 2023 Number 2022 Number Total There were no employees whose 3nnu* remunewatK)n was more than £60.0. 10 Oth•r •xp•nditur• Unr¥stri¢t•d Unr•stricted funds funds 2023 2022 Olhef expenditure 1,660 11 Gains and on investmonts Restri¢led funds 2023 Restricted fund5 2022 Gainslllosses) aring on.. Revaluation of investments Sale of investrrtenls (69,6001 16.813 77.758 13911 152.7871 77,367 12 Tax•tTron The tharity is exempt from taxatw on its actiwtre5 because all its in(x)fne 15 gpplied for charrtable purrx)ses.
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 13 Flxed ass•t Investments Listed Inv•stments Cost or valuatlon At 6 April 2022 Additions Valuation change5 Profit on disposal Disposals 1.051,027 155,241 169,600} 16,813 {144.6961 At 5 &DriJ 2023 1,008,785 Carylng amount At 05 April 2023 1,008,785 At 05 April 2022 1,051.027 14 Credltors: amounts falling due wrlhin orse year 2023 2022 Accnjals 8fKI dèferred income 2,000 10.349 15 Re$tri¢t•d funds Thè rèstricted funds of the charity comprise the unexpended b35ances of donations and grants held on trust subject to speafi¢ ¢ondth"ons by donors as to how they may be us&J. At 6April 2022 Gains and losse5 At 5April 2023 1.081,914 152,7871 1,029,127 Previous y•ar= At 6 April 2021 Galns and lo$s• At 5April 2022 1.CK)4,547 77.367 1,081,914 10-
ROTARY CLUB OF BIRMINGHAM ENDOWMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 16 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balan of donations and grants which arè not subject lo specific conditions by donors and grantors as to how they may be used. These indude designated funds which have been set aside oul of vnr85tn"rL8(l fvnds by the trustees for specific purposes. At 6 April 2022 Incoming r•soure•s Resources expended At 5April 2023 General fvnds 16,561 35,081 141,4101 10.232 Prèvious yèar. AI 6April 2021 Incoming resources Resourc expended At 5 April 2022 General funds 27.550 32,656 143,6451 16,561 17 Analysls of net assets between fvnds Unre5trided fund5 2023 R•$trict•d funds 2023 Total 2023 At SApril 2023: Investments Current assetsllliab1le$) 1.008.785 20.342 1.008.785 30,574 10.232 10.232 1.029.127 1,039,359 Unrestricted fursds 2022 Re5tri¢ted fvnds 2022 Totsl 2022 At S April 2022: Investrnents Current assetsllliabilrt¢esl 1.051,027 30,887 1.051.027 47,448 16.561 16,561 1,081,914 1.098.475 18 Rèlatèd party transactlons The¥e were no disdoSate related party trarb5a(knns during the year12022- none). 11