SIDCUP ROTARY CLUB BENEVOLENT TRUST
UNAUDITED FINANCIAL STATEMENTS
30TH JUNE 2025
Charity Registration Number 280561
OPASS BILLINGS WILSON & HONEY LLP Sidcup Kent DA15 7BY
SIDCUP ROTARY CLUB BENEVOLENT TRUST
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2025
| Contents | Pages |
|---|---|
| Trustees' Annual Report | 1 to 4 |
| Trustees' responsibilities in the preparation of Financial Statements | 5 |
| Independent examiner's report to the Trustees | 6 |
| Income and Expenditure Account | 7 & 8 |
| Statement of Assets and Liabilities | 9 |
| Trustees Responsibilities and Signatures | 10 |
| Notes to the Financial Statements | 11 & 12 |
SIDCUP ROTARY CLUB BENEVOLENT TRUST
TRUSTEES' ANNUAL REPORT
YEAR ENDED 30 JUNE 2025
The Trustees present their report and the unaudited Financial Statements of the Trust for the year ended 30th June 2025.
Reference and administrative details
Registered charity name Sidcup Rotary Club Benevolent Trust Charity registration number 280561
The Trustees
The Trustees who served the charity were:
M McQueen President 25/26 N Hamblyn MBE Honorary Treasurer B Hitchcock Trustee David Dennis Trustee G Packman Trustee Secretary B Hitchcock From July 2024 Accountants Opass Billings Wilson & Honey LLP Chartered Certified Accountants Numeric House 98 Station Road, Sidcup Kent DA15 7BY
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SIDCUP ROTARY CLUB BENEVOLENT TRUST
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 30 JUNE 2025
Structure, governance and management
Governing document
The Rotary Club of Sidcup Benevolent Trust is a non government, non-political, non religious organisation. The governing document is a Deed of Trust dated 14th March 1963, amended on the 19th November 1980, which established the objects and powers of the Charity.
Trustees and Management
The Trustees of the charity are set out on page 1 of the Financial Statements. The Trustees are recruited from the existing serving Club Members, holding office from the first day of July in each year. The Trustees will be five in number comprising the President, Vice President and Honorary Treasurer for the time being of the Club, plus two past Presidents of the Club to be elected annually by simple majority in General Meeting. Any occasional vacancy which may occur shall be filled by a Past President elected annually by simple majority at any Club meeting. No Individual President shall hold office of Trustee for more than three consecutive years.
Operational Structure
The charity operates in and around Sidcup, Kent, although its registered address is that of the Trust Treasurer and authorised Administrator. The charity was set up by the Rotary Club of Sidcup to offer support in the community and to raise funds to assist those less fortunate and worthy causes. This is achieved by annual covenant donations made by Members, fund raising events, investment income and the receipt of ad hoc donations, legacies and grants.
Accounting Controls
The Charity has set up a fabric of accounting records and internal controls over recording in connection with Income, Expenditure, Assets and Liabilities.
A financial statement is prepared and submitted at broadly monthly meetings as an overview for the Trustees and Club members.
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SIDCUP ROTARY CLUB BENEVOLENT TRUST
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 30 JUNE 2025
Objectives and activities
The relief of poverty, the advancement of education, of religion and other purposes beneficial to the community provided the same are exclusively charitable purposes within the meaning of the law of England and Wales. In setting their objectives and planning their activities the Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commissioner's guidance on public benefit. Donations from the Trust are used to help the disadvantaged, both young and old, in the UK and abroad, Alleviating distress caused by disasters at home and overseas is also targeted.
The main fund raising event for the year was the Trust's traditional Christmas street collections. This year we recruited help from local organisations and charities in return for a donation to their cause. We also organised a number of other fund raising activities We continued to benefit from dividends on our Investments and these funds were enhanced by member covenants, personal donations and related gift aid.
The Trust continues to contribute to the community offering support and financial assistance. Some Members of the Rotary Club's members again provided support at the long standing Christmas Day Lunch for local disabled, elderly and persons living alone; and distributed tickets for and co-ordinated two circus visits attended by local disabled children and their carers.
A wide range of Trust donations have been made to charities and for other purposes locally, nationally and internationally for the benefit of those in need, in keeping with the Trust's objectives.
The Trust continues to look at new avenues, not only of fund raising, but how we can be of service in the community. Several events are already on the calendar for the forthcoming year.
Achievements and Performance
During the period the Charity received £50,522 in fund raising and donations to carry out the programmes mentioned above, £57,831 was given in support of charities and those in need need, £10,827 of which was for Restricted Purposes.
Financial Review
The charity has investments in M&G Equities Investments for Charity Income Fund Units (Charifund Inc). The holdings delivered an annual yield of 6% in the year of account from a portfolio of higher income producing shares and so enhancing the trust's programme of support for good causes.
The charity maintains Unrestricted Reserves to cover it's current and future operational requirements pending receipts from dividends and fund raising activities. Any excess reserves are distributed by way of charitable donations. The charity's current account balances may fluctuate due to the timing of donations, the release of committed donations and a desire to ensure a steady distribution of support.
Plans for future periods
The charity will continue to support local, national and international charities and good causes in the future offering both service and financial assistance.
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SIDCUP ROTARY CLUB BENEVOLENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE REPORT) FOR THE YEAR ENDED 30 JUNE 2025
| INCOME TAX RECOVERED Gift Aid Tax Recovered GIFT AIDED DONATIONS General Donations Covenants General Covenants Foundation Foundation Donations End Polio Now Foundation Donations Save Bexley Music INVESTMENT INCOME Investment Income Bank Interest FUNDRAISING INCOME SSO Charity Concert Skittles Evening Quiz Night Hog Roast Grand Sale Autumn Clarinets Coffee Mornings Bexley Music Concert Bang and Twang Curry Night Charity Meal for Falconer Trust Young Musician of the Year Award OTHER DONATIONS AND LEGACIES Christmas Collections Non Gift Aided Foundation Donations Non Gift Aided Donation End Polio Now Riviera Travel Discount Bexley Young Muscians Award TOTAL INCOME |
Unrestricted Restricted 2025 Total 2024 £ £ £ £ - - - 2,754 |
|---|---|
| - - - 2,754 |
|
| 5,134 - 5134 1,789 431 - 431 456 - - - 90 371 - 371 233 140 - 140 565 - 2,500 2500 - |
|
| 6,076 2,500 8,576 3,133 |
|
| 17,369 - 17369 16,510 393 - 393 386 |
|
| 17,762 - 17,762 16,896 |
|
| 3,588 - 3588 - - - - 190 1,975 - 1975 1,505 - - - 783 702 - 702 860 - - - 513 1,389 - 1389 - 160 - 160 - 248 - 248 - 1,130 - 1130 - - 814 814 - |
|
| 9,192 814 10,006 3,851 |
|
| 10,728 - 10728 11,699 50 - 50 25 110 - 110 65 475 - 475 394 - 2,815 2815 - |
|
| 11,363 2,815 14,178 12,183 |
|
| 44,393 6,129 50,522 38,817 |
|
| 7 (Continued) |
SIDCUP ROTARY CLUB
BENEVOLENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE REPORT CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
| EXPENDITURE DONATIONS Local Beneficiaries/Events Save Bexley Music National Charities International Charities Rotary Foundation Donations ADMINISTRATIVE COSTS Accounting Software FUND RAISING EXPENSES Autumn Clarinets Coffee Mornings Skittles Evening Expenses Christmas Collections Expenses Quiz Night Expenses SSO Charity Concert Charity Meal for Falconer Trust Bexley Young Musician of the Year Award Bexley Music Concert Expenses TOTAL EXPENDITURE SURPLUS/(DEFICIT) FOR PERIOD Change in value of investments Transfers Net movement in funds Total Funds Brought Forward 1 July 2024 Total Funds Carried Forward at 30 June 2025 |
Unrestricted Restricted 2025 Total 2024 £ £ £ £ (23,831) - (23,831) (44,707) - (6,725) (6,725) (2,097) (925) - (925) - (16,754) - (16,754) - (2,114) - (2,114) (2,499) |
|---|---|
| (43,624) (6,725) (50,349) (49,303) |
|
| (108) - (108) (80) |
|
| (108) - (108) (80) |
|
| - - - (60) - - - (80) (825) - (825) (1,252) (400) - (400) (185) (934) - (934) - (1,015) - (1,015) - (47) (4,102) (4,149) - (51) - (51) - |
|
| (3,272) (4,102) (7,374) (1,577) |
|
| (47,004) (10,827) (57,831) (50,960) |
|
| (2,611) (4,698) (7,309) (12,145) 10,728 - 10,728 21,297 (1,081) 1,081 - - |
|
| 7,036 (3,617) 3,419 9,152 317,081 6,150 323,231 314,079 |
|
| 324,117 2,533 326,650 323,231 |
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SIDCUP ROTARY CLUB BENEVOLENT TRUST
STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH JUNE 2025
| Fixed Assets Long-Term Investments Total Fixed Assets Savings & Investments Business Premium Account Total Investments Current Assets Barclays Bank Account NatWest Bank Metro Bank Account Total Current Assets Net Current Assets Net Assets @ 30-JUN-2025 Represented by Funds Unrestricted Funds Balance available for Donations Community Garden Community Hospice Donations Awaiting Payment Emergency Contingency Foundation Donations End Polio Now M&G Charifund Rotary Foundation Satellite Group Allocated for Donations White Chapel Mission Cecily's fund and ICT Sreepur Village Project St Lawrence Community Fund Restricted Funds Bexley Young Musicians Award Save Bexley Music Campaign Funds Balance @ 30-JUN-2025 |
2025 2025 2025 2024 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 300,226 - 300,226 289,498 |
|---|---|
| 300,226 - 300,226 289,498 |
|
| 21,766 - 21,766 31,393 |
|
| 21,766 - 21,766 31,393 |
|
| 2,121 2,533 4,654 2,299 4 - 4 - - - - 41 |
|
| 2,125 2,533 4,658 2,340 |
|
| 2,125 2,533 4,658 2,340 |
|
| 324,117 2,533 326,650 323,231 |
|
| 9,374 - 9,374 17,829 240 - 240 - 8,000 - 8,000 - 1,900 - 1,900 - 3,000 - 3,000 3,000 30 - 30 298 300,226 - 300,226 289,498 170 - 170 388 500 - 500 500 677 - 677 668 - - - 500 - - - 2,400 - - - 2,000 |
|
| 324,117 - 324,117 317,081 |
|
| - 455 455 474 - 2,077 2,077 5,676 |
|
| - 2,533 2,533 6,150 |
|
| 324,117 2,533 326,650 323,231 |
(Continued)
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SIDCUP ROTARY CLUB BENEVOLENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2025
1 General Information
The Sidcup Rotary Club Benevolent Trust is a non government, non-political, non religious organisation, a registered charity in England and Wales Registration No. 280561)
2 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Charities Act 2011 (The 2011 Act). Assets and liabilities are initially recognised as historical cost unless otherwise stated in the relevant policy note.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Funds held by the charity are:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the members.
Restricted funds - these are funds which can be used in accordance with the charitable objects and only lawfully used for a specific charitable purpose.
Income Recognition
All income is included in the statement of financial activities when entitlement has passed to the charity, there is sufficient certainty of receipt and the amount of the income can be reliably measured. The following specific policies are applied to particular categories of income.
Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and it's amount can be reliably measured. Donations are recognised in the accounts when the charity has been notified of the amount and the date the donation will be received. This is normally when a donation has been received in the post or into the charity bank account.
investment income on funds held on deposit or investment is recognised when notification is received, confirming the interest being paid or becoming recognisable.
The income from fund-raising ventures is shown gross with any associated costs then deducted.
Expenditure Recognition
Expenditure on raising funds includes the cost of all fundraising activities and events, and is recognised as the cost id incurred.
Donations are payments made by the Trust in the furtherance of the objects of the charity. An application request for a donation will be considered by the Trustees and Council and, referred to members. If agreed, the donation will be forwarded and included once it has been paid.
(Continued)
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SIDCUP ROTARY CLUB BENEVOLENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2025
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Fund raising expenditure as recognised as the cost is incurred.
Donations are payments made by the Trust in furtherance of the objects of the charity. An application request for a donation will be considered by the Trustees and Council and referred to members. If agreed the donation will be forwarded
Expenditure on raising funds includes the cost of all fundraising activities and events.
Investments
Investments are initially recorded at cost and subsequently stated at cost plus/less any accumulated profit/loss
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently valued at their settlement value.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment for each balance sheet date. If any impairments exist the debtors are measured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then re-measured to the present value of the . expected future cash outflows
3 Restricted funds
The Restricted Funds relate to the balances transferred from the Rotary Club of Bexley and further funds raised for the biennial Bexley Young Musician Award event organised on behalf of the three Bexley Rotary Clubs (Erith, Bexley and Sidcup) by Sidcup's Satellite Group members, plus unexpended monies from the past Save Bexley Music Campaigns, much of which has been committed for music bursaries yet to be paid.
4 Legacy
Sidcup Rotary Club was bequeathed a self contained flat in Sidcup subject initially to a life tenancy. A 6.6% share (equating to £57,529.08) of the residual estate was also received to enable the lease on the property to be extended to provide long term benefit to the Rotary Club's Trust, and cover any maintenance of the property. The lease was extended at a cost of £34,365 and the remaining monies invested. On the death of the life tenant, the property formally passed to the Trust. Shortly afterwards (in 2021)Trustees decided to sell the property and, mindful of the intention to provide long term community benefit, invested both the sale proceeds and the balance of the financial legacy into M&G Equities Fund for Charities (Charifund Inc.) Units. The value of the units at 30th June 2025 was £300226. The investments generated a yield of 6% in the year to June 2025.
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