ROTARY CLUB OF THE ROYAL FOREST OF DEAN
TRUST FUND CHARITY REGISTRATION NUMBER: 286032
## REPORT AND FINANCIAL STATEMENTS
FOR
THE YEAR ENDED 30[TH] JUNE 2024
KNIGHT BENNETT & CO, CHARTERED ACCOUNTANTS
## ROTARY CLUB OF THE ROYAL FOREST OF DEAN TRUST FUND
|REPORT AND FINANCIAL STATEMENTS||
|---|---|
|FOR THE YEAR ENDED 30THJUNE 2024||
|INDEX||
||Pages|
|Report of the Trustees|2 - 3|
|Independent Examiner’s report|4|
|Statement of financial activities|5|
|Balance Sheet|6|
|Notes to the financial statements|7 - 8|
- 1 -
ROTARY CLUB OF THE ROYAL FOREST OF DEAN TRUST FUND
## REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30[TH] JUNE 2024
The Trustees present their report and financial statements for the year ended 30[th] June 2024.
## **Legal status**
The Trust Fund is a charity, registration number 286032.
## **Charity Scheme**
The present Scheme was drawn up by the Charity Commission and sealed 5[th] November 1982.
## **Charitable objects**
The charitable object is the provision of grants and donations to community organisations.
## **Organisation and Management**
## **Trustees**
The President of the Club is traditionally an Ex-officio Trustee and Chairman of the Trustees. At 30[th] June 2024 there were three Nominative Trustees in post. The following Trustees served during the year:
Mr C Hammersley
Mr M Yonge
Mr I Storrar
## **Correspondence**
The contact address for the Trustees is c/o Mr M Yonge, The Brambles, Awre Road, Blakeney, Glos. GL15 4AA.
## **Policies adopted by the Trustees**
In line with the policies adopted by the Trustees and the Rotary Club as a whole, funds are raised by holding events and proceeds granted or donated to worthwhile projects and organisations within the local, national and worldwide communities.
## **Review of the year**
The results for the year set out on page 5 show an excess of income over expenditure of £6,366 (2023 excess of expenditure over income of £18,277).
- 2 -
ROTARY CLUB OF THE ROYAL FOREST OF DEAN TRUST FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30[TH] JUNE 2024
## **Investments**
All monies are held in local bank and building society accounts.
## **Risk Policy**
The Trustees have reviewed the major risks, both financial and operational, which the charity faces and confirm they have established plans and systems to mitigate those risks.
## **Reserve Policy**
The Trustees regularly monitor the charity’s reserves to ensure that an adequate level is maintained to meet its stated objectives.
To this end, the Trustees intend to maximize resources available to the charity by continuing with its policy of prudent resource management.
## **Trustee’s Responsibilities**
Trustees Charity law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:-
- select suitable accounting policies and then apply them consistently
- make judgments and estimates that are reasonable and prudent
- prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to 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 the prevention and detection of fraud and other irregularities.
Approved on behalf of the Trustees on 2024.
Chairman
- 3 -
## ROTARY CLUB OF THE ROYAL FOREST OF DEAN TRUST FUND
## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
This report on the financial statements of the charity for the year ended 30[th] June 2024, which are set out on pages 5 to 9 is in respect of an examination carried out in accordance with s.154 of the Charities Act 2011 (“the Act”).
## **Respective responsibilities of the Trustees and Examiner**
As Trustees you are responsible for the preparation of the financial statements; you consider that the audit requirement of section 144 of the Act does not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Act.
## **Basis of this report**
My examination was carried out in accordance with the General Directions given by the Charity Commission under section 154(7)(b) of the Act. That examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s statement**
In connection with my examination, no matter has come to my attention:
- 1) which gives me reasonable cause to believe that in any material respect the requirements
- To keep accounting records in accordance with the Act; and
- To prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or
- 2) to which, in my opinion, the attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David J. Bennett B.A. A.C.A. Chartered Accountant, Messrs. Knight Bennett & Co 1 Parsons Croft, Hildersley, Ross-on-Wye. HR9 5BN.
- 4 -
## ROTARY CLUB OF THE ROYAL FOREST OF DEAN TRUST FUND
## STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30[TH] JUNE 2024
|||Unrestricted|Restricted|TOTAL|TOTAL|
|---|---|---|---|---|---|
||Note|Funds|Funds|2024|2023|
|INCOME RESOURCES||£|£|£|£|
|Incoming resources from generated||||||
|funds:||||||
|Voluntary income:||||||
|- Donations|2|500|-|500|40|
|Activities for generating funds|
3|51,619|-|51,619|43,011|
|Investment income||-|-|-|-|
|||52,119|-|52,119|43,051|
|Incoming resources from charitable||||||
|activities||-|-|-|-|
|**Total incoming resources**||52,119|-|52,119|43,051|
|||__|_ ________|_______|___ ________|
|RESOURCES EXPENDED||||||
|Costs of generating funds|4|27,954|
-|27,954|25,945|
|Charitable activities:||||||
|Direct costs|5|17,759|-|17,759|35,381|
|Governance costs|5|-|-|-|-|
|**Total resources expended**||45,753|-|45,753|61,326|
|||___________|_________|__________|____________|
|**Net incoming/(outgoing) resources**||||||
|**for the year**||6,366|-|6,366|(18,275)|
|Reconciliation of funds:||||||
|Reserves as at 1stJuly 2023||45,739|-|45,739|64,014|
|Reserves as at 30thJune 2024||52,105|-|52,105|45,739|
|||=====|======|=====|=====|
The notes on pages 7 to 8 form part of these financial statements.
- 5 -
ROTARY CLUB OF THE ROYAL FOREST OF DEAN
TRUST FUND
BALANCE SHEET
TFI
30 JUNE 2024
Notes
2024
2023
CURRENT ASSETS
Debtors
Bank current account
Bank events account
511
7,623
511
8,230
52,105
45,739
RESERVES
Unrestricted reserves
Restricted reserves
52,105
45,739
52,105
45,739
The accounts on pages 5 to 8 were approved by the Trustees on
their behalf by:_
2024 and signed on
) TRUSTE
ROTARY CLUB OF THE ROYAL FOREST OF DEAN TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[TH] JUNE 2024
## 1. ACCOUNTING POLICIES
The principal accounting policies adopted in the preparation of these financial statements were as follows:-
## **(a) Basis of accounting**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities, the Financial Reporting Standard applicable In the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
## **(b) Incoming resources**
All incoming resources are reported before expenses. Incoming resources represent income
generated from the charity’s ordinary activities which were continued throughout the year.
## **(c) Resources expended**
Resources expended are included in the Statement of Financial Activities and are accounted for on an accruals basis. Certain expenditure is directly attributable to a specific activity and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of estimated usage.
Direct charitable expenditure comprises of all associated direct costs in pursuance of the charity’s objects.
Support costs relate to costs incurred in support of the charity’s objects. They include a proportion of attributed overheads.
Management and administration costs include those expenses incurred in connection with the administration of the charity, including compliance with constitutional and statutory requirements.
## **(d) Tangible fixed assets**
The property has been included in the accounts at the historical cost value
## **(e) Fixed asset investments**
Investments are shown at market value.
## **(f) Fund accounting**
General funds are those funds which can be used in accordance with the charity’s objects at the discretion of the trustees.
Restricted funds are those funds that can only be used for a specific purpose within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
- 7 –