Charity reg15tratlon number 503439 BROMSGROVE ROTARY CLUB CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BROMSGROVE ROTARY CLUB CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr A G Docherty Mr A Rampal Mrs C Spencer Mrs L Beale Mr F Sharif (Presldent) (Appointed 1 July 2023) Charlty number 503439 Prlnclpal address clo Maekong Thai Restaurant 12 Worcester Road Bromsgrove Worcestershlre B617AE Independent examlner Ormerod Rutter Limited The Oakley Klddermlnster Road DrO1leh Worcestershire IM19 9AY Bankers Unity Trust Bank plc Four Brlndleyplace Birmingham B12JB Investment advlsors EFG Harrfs Allday Church Mews Main Road Ombersley DrO11¢h WR9 OEW
BROMSGROVE ROTARY CLUB CHARITABLE TRUST CONTENTS Page Trustee5' report Independent examiner's report Statement of financial activities Balance sheet Notes lo the accounts 7-15
BROMSGROVE ROTARY CLUB CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report and financial statements for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accountlng pollcies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charltles.. Statement of Recommended Practice appllcable to charities preparing Ihelr a¢¢ounls In aGcordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) (effective 1 January 2019) These financial statements comprlse th8 results of the BromsgTove Rotary Club Charitable Trust including the results of its linked charity, The Len Giles Trust. Objectlves and actlvltles The Rotary Club of Bromsgrove is a Gonstiluent Club of Rotary International Great Britain and Ireland. and exists to support worthwhile causes In its local community and further afield, including communllies in need abroad. During the year, the Club has continued to support proleds which aid the learning and development of young people and those which support the elderly. We have supported both North and South Bromsgrove Hlgh Schools. We have continued to donate food banks in Bromsgrove, due to the effect of Covid-19. Projects abroad have included donations to the work of Aquabox and Shelterbox. which we hope to continue in the comlng year. We hava supported Ukrainian refugees, helping to welcome Ihem into the community, setting them up with necessities and donating. We have also donated to Turkey after the effects of the earthquake. The Len Giles Charitable Trust is a linked Gharity whlch works solely for the benefit of those who live within the area managed by Bromsgrove District Council. It5 charitable purpose5 include: the relief of the elderly and those living In povety or with disability or illness: educational purposes-, religious purposes., other beneficial public purposes: and supporting the work of recreational charitles. The Gharity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or "aims" that are for the public benefit. The trustees confirm that they have paid due regard to the Charity Commission guidan on public benefit before deciding what aclivities the charity should undertake. Flnanclal revlew The charity has continued to make grants available to a varlety of organisatlons and individuals throughout the year. Some of these were paid from within the Len Giles Trust as illustrated within the financial statements. Reserves pollcy The charity does not have a specific reserves policy bLrt has very little committed expenditure and is mindful of ensuring that reserves are adequate to cover such costs. Grants are paid to qualifying causes based on the availablllty of suitable reserves. Rlsk pollcy The Trustees has assessed the major risks to whlch the charity 15 exposed. and are satisfied that systems are in place to mltigate exposure to the major risks.
BROMSGROVE ROTARY CLUB CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Structurei governance and management The charity Is a company limited by guarantee created by a deed of declaration dated 18 April 1966. The charity holds ils charter within Rotary International in Great Brilain and Ireland (RIBI) and complies with the guldelines set out therein. The Constitution of RIBI (Article 5, Section D) provides that every club in the Area (Great Britain, Ireland, the Channel Islands and the Isle of Man) 18 bound in all things, not contrary to law, by the Constitution and the By-Laws of the Association and shall observe the provisions thereof. Clubs are also bound by the general law of the jurisdictlon withln whl¢h that Club Is located. The charity has adopted the suggested policy documents produced by RIBI being:_ Equality and Diversity Policy Health and Safety Policy Statement Safeguarding (Children and Vulnerable Adults) Policy Rl General Data Protection Policy Notice The Trustees who served durfng the year and up to the date of signature of the financial ststements were: MrA G Docherty MrA Rarnpal Mr R Sinclair Mrs C Spencer Mrs L Beale Mr F Sharif (President) (Resigned 30 June 20231 {Appointed 1 July 2023) ReGnJitn7ent and appointment of trustees Truste8s are reconfirmed In thelr appointment at a meeting held annually. It Is th8 case that Club's President, Immediate Past President. Treasurer and Secrelary are Trust8es. A Trustee is also appointed by vlrtue of their status as Immediate Past President. Other Trustees may be appointed withln our discretion. Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial statements In a¢¢ordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which glve a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the charity for that year. In preparlng these financial statemenls. the Trustees are requlred to: select suitable accounting policies and then apply them consistently: observe the methods and principlés in the Charities SORP., make judgements and estimates that are reasonable and prudent: state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responslble for keeping sufficient accounting records that dlsclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provision5 of the trust dead. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularitie5.
BROMSGROVE ROTARY CLUB CHARITABLE TRUST TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 The Tn5s1ees' rèwrt was 8pproved by Ihe Board ol Trusleos. Mr F Sharif (P51dent) Trustèe Dale..
BROMSGROVE ROTARY CLUB CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROMSGROVE ROTARY CLUB CHARITABLE TRUST I report to the Trustees on my examination of the financial statements of Bromsgrove Rotary Club Charitable Trust (the charity) for the year ended 5 April 2024. Responslbilitles and basls of report As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirement5 of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under secllon 145 of the 2011 Act. In carrying out rny examlnation I have followed all the applicable Directions given by the Charity Commisslon under section 145(5)(bl of the 2011 Act. Independent examiner's statèment I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. ac¢ounling records were not kept in respeGt of the charity as required by section 130 of the 2011 Act,. or the financial statements do not accord wlth those records., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and 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 examination. I have no concerns and have come acTQSS no other matters in connection with the examination to which attenlion should be drawn in this report In order to enable a proper understanding of the financial statements to be rea¢hed. TonyArcher Ormerod Rutter Limited The Oakley Kidderminster Road Dro1ICh Worcestershire WR9 9AY yI.ILf
BROMSGROVE ROTARY CLUB CHARITABLE TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestrlcted Restrlcted funds funds Len Glles Trust 2024 Total Unrestrlcted funds Restricted funds Len Giles Trust 2023 Total 2024 2024 2023 2023 Notes Income and endowments fro Donations and legacies Investments Other Income 2.949 2,949 24,678 1.905 4,801 4.801 21,067 24.678 21.067 1.905 Totsl Income 4,854 24,678 29,532 4,801 21.067 25,868 Ex enditUTe on: Raislng funds 5.114 5,114 Charitable activities 4.433 12.501 16,934 13,222 17.233 30,455 Total resource5 expended 4,433 17.615 22,048 13.222 17,233 30,455 Net gainsl(losse5) on investments {43.288) (43.288) Gross transfers beeen funds Net movement In funds 9.500 1,079 {9,500) (5,666) 421 (36,225) <35.804) (4.587) Fund balances at 6 April 2023 3,163 688,224 691,387 2,084 693,890 695,974 Fund balances at 5 April 2024 3,584 651.999 655,583 3,163 688,224 891,387 The statement of financial adlvlties include5 all galns and losses recognised in the year. The statement of financial activlties includes all gains and1055es recognised in the year. All income and expenditure derive from continuing activities.
BROMSGROVE ROTARY CLUB CHARITABLE TRUST BALANCE SHEET AS Af5 APRIL 2024 2024 2023 Nolvg Flxed assets Investrnents 16 633.434 682.468 Current•¥g•ls Debtors Cash at bank and in h8Trd 259 24,374 250 10.831 24,633 11.081 CredltOfS: amounts tslllng due *lthln One year 17 12.4841 12,1601 Nel current assels 22,149 8,921 Totsl ass•ts lèss CUTront Ilabllllles 655,S83 691.387 In¢om• funds Restricted funds- Len Giles Trust Unrestrtcl8d fvn(ts e51.999 3.$84 688,224 3,163 5.563 691.387 The fjnandal Swlements weie approved by the Trustees on... . Mr F Sharil IPrest¢Jenll Tnt¥tee
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting pollcles Charity informatlon Bromsgrove Rotary Club Charitable Trust Is an unincorpor8ted charity registered with the charity commission for England and Wales. The princlpal address is Rotary Club of Bromsgrove, do Maekong Thai Restaurant, 12 Worcester Road. Bromsgrove, B617AE. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitles preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeGtive 1 January 2019) The charity is a Public Benefil Entity as defined by FRS 102. The charity has taken advantage of the provislons in the SORP for charities applylng FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared In sterling, whlch is the fundional currency of the charity. Mon8lary amounts in these financial statements are rounded to the nearest £. The financial staternents have been pr8pared under the historical cost convention. modified to include Investments at fair value. The principal accounting policles adopted are set out below. 1.2 Golng concern At the lime of approving the flnancial statemeDls. the Trustees have a reasonable expectalion that the charity has adequate resources to continue in operatlonal existence for the foreseeable future. Thu5 the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the disGretion of the Trustees In furtherance of Iheir charitable objectives. The Len Giles Trust is a linked charity. Its funds have been separately disclosed in accordance with the SORP and will be used for the purposes set out within the Trust. Restricted funds are subject lo specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial stslements. 1.4 Incomlng resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are re¢ognised once the charity has been notified of the donation, unless performance condilions require deferral of the amount. Income tax recoverable in relatlon to donations received under Gift Aid or deeds of covenant Is recognised at the time of the donation. Legacies are recognlsed on receipt or otherwise if the chartty has been notified of an Impending dlstrlbution. the amount is knDwn. and receipt is expected. If Ihe amount is not known, the legacy is treated as a contingent asset.
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies {Contlnuedl 1.5 Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basls consistent with Ihe use of resources. 1.6 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each porting date. Changes in fair value are r8cognised in net incornel(expenditure) for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalènts Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnancial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financlal Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financlal instrurnents. Financial instruments are recognised in the charlty's balance sheet when the charity beGomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 1.9 Grants payable Grants payable are made to Ihird partie5 in furtherance of the charity'5 objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition. ar the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity. Provisions for grants are made when the intention to make a grant has been Communicated to the recipient but there is uncertalnty about either the timing of Ihe granl or the amount of grant payable. Crltlcal accountlng estlmates and judgements In the application of the charity's accounting policies, the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilitie5 that are not readily apparent from other sources, The estlrnates and associated assumptlons are based on historical experience and other factors that are considered to be relevanL A¢tual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognlsed In the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Donatlons and legacles Unrestrlcted Restrlcted funds funds Len Glles Trust Total 2024 Total 2023 Subscriptions and donations 2,949 2.949 4,801 2,949 2.949 4,801 Investments Restrleted funds Len Glles Trust 2024 Reslri¢ted funds Len Giles Trust 2023 Income from listed investments Interest received 21,679 2,999 21,067 24,678 21,067 other income Unrestricted Unrestrlcted funds funds 2024 2023 Members events income 1.905
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Ralslng funds Restrl¢ted funds Len Glles Trust 2024 Total 2023 Inveslment management fees 5,114 Expendlture on charltable activities Total 2024 Total 2023 Dlrect costs Grant funding of activities (see note 9) 10,384 26,981 Share of support and governance costs (see note 10) Support Govemance 3,858 2,694 1,164 2,310 16,934 30,455 Analysls by fund Unrestricted fvnds Restricted funds - Len Giles Trust 4,433 12,501 13.222 17.233 16,934 30,455 Descrlptlon of charltable activitles The main charitable activity of the organisation is the provision of grants to both organisations and individuals for the promotion of the welfare of the inhabitant5 of the Districi Council of Bromsgrove. 10-
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Grants payable 2024 2023 Grants to institutions: Age UK Primrose Hospice West Mids Burnaid Shelterbox Chadsgrove School Guide Assoc Midlands Rotary Districl Girlguiding North Worcestershire - Food Bank Bromsgrove Youth Sensory Garden Bromsgrove Regeneration Hereford Worcs Scout Kids Cancer Charity Rotary Int South Bromsgrove Spire Church of England St Godwalds PCC Worcestershire Scout Council New Starts Cat5hill Baptist Church Worc5 Co Council Bromsgrove Society 300 300 500 230 600 419 250 785 250 2,400 500 2.400 500 2.500 1,550 455 3,041 238 600 250 1,000 400 400 100 627 23 9.035 11,583 Grants to indivlduals 1,349 15,398 10.384 28,981 10 Support costs alloGated to actlvltles 2024 2023 Subscriptions SeNice charges Meeting ¢ost5 Members event Bank fees Governance costs 1,382 72 420 1.905 97 2,694 1,020 72 72 2.310 6,550 3.474 Analysed between: Total 6.550 3,474 11
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 11 Independent examlnatlon The analysis of independent examination fees is as follows: 2024 2023 Independent examination fee 2,694 2,310 12 Trustees There were no trustees, remuneration of other benefits for the year ended 5th April 2024 nor for the year ended 5thApril 2023, During the year no trustees were reimbursed expenses (2023 - £nil). 13 Employees There were no employees during the year (2023 - none). 14 Taxatlon The charity Is exempt from taxation on it5 activities because all its income is applied for charitable purposes. 1S Fixed asset Investments Unlisted investments Cost orvaluation At 6 April 2023 Additions Valuation changes Disposals 682,466 120,052 (74,897) (94,187) At 5April 2024 633,434 Carrylng amount At 05 April 2024 633,434 At 05 April 2023 6B2,466 16 Debtors 2024 2023 Amounts falllng due wlthln one year: Prepayments and accrued Income 259 250 12-
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 17 Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 2,484 2,160 18 Restrlcted funds - Len Giles Trust These are restricted funds which are material to the charity's activities. At 6 Aprll 2023 Incomlng resources Resources expended Transfers Gains and losses At S Aprll 2024 688,224 24,678 (17,615) (43,288) 651.999 Prevlous year: At 6 Aprll 2022 Incomlng Resourc8S resources expended Transfers Galns and losses At S Aprll 2023 693.890 21.087 {17,233) (9,500) 688,224 19 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include deslgnated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 6 Aprll 2023 Incomlng Resources resources expended Transfers At 5 Aprll 2024 General funds 3,163 4,854 (4,433) 3,584 Previous year: At 6 Aprll 2022 Incomlng Resources resources expended Transfers At S Aprll 2023 General funds 2,084 4,801 (13,222) 9,500 3.163 13-
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 20 Analysls of net assets between funds Unrestrlcted funds Restrlcted funds Len Glles Trust 2024 Total 2024 2024 At 5 April 2024: Investments Current assetsl(liabilities) 118.565) 22.149 651,999 633,434 22,149 3,584 651,999 655.583 Unrestrl¢ted funds Restrlcted funds Len Glles Trust 2023 Total 2023 2023 At 5 Aprll 2023: Investments Current assetsl(liabilities) 682,466 5,758 682,466 8,921 3,163 3,163 688,224 691,387 21 Related party transactions There were no disclosable related paty transactions during the year (2023- none). 14-
BROMSGROVE ROTARY CLUB CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 22 Len Glles Trust The Len Giles Trust is a linked charity which is unincorporated. In accordance with the Statement of Recommended Practice .' A¢counting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), branch accounting has been applied. The results of the Len Giles Trust have been incorporated Into the results of the charity In accordance with the appropriate guidance but have been analysed separately on the Statemenl of Financial Actlvity as material fund. The Balance Sheet ofthe Len Gile5 Trust is as follows-. 2024 2023 Fixed assets Investments 633.434 682,466 Current assets Debtors Cash at bank and in hand 20,473 7.342 20,473 7,342 Creditors: amounts falling due within on8 year (1,908) (1,584) Net current assets 18,565 5,758 Total assets les5 current liabllllles 651,999 688,224 Funds Len Giles Trust restricted fund 651,999 688,224 15-