2025-06-30-accounts - Worcester Rotary Club Sawyer Trust

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Worcester Rotary Club Sawyer Trust Trustees' Annual Report and Financial Statements

30 June 2025

Charity number: 511276

Worcester Rotary Club Sawyer Trust Trustees' Annual Report for the year ended 30 June 2025

The Trustees present their report and the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

OBJECTIVES AND ACTIVITIES

Objectives

The objectives of the Trust are:

1 To relieve women over the age of 50 who are in need, by virtue of financial hardship, sickness or poor health.
2 If and in so far as the income of the charity cannot be applied towards the object above, it may be applied to relieve men over the age of 50 who are in need, by virtue of financial hardship, sickness or poor health.

Grantmaking

All of the Trust's activities are focused on the relief of women over the age of 50 who are in need, by virtue of financial hardship, sickness or poor health. During the year, the Trust provided help totalling £80,992 (2024 £87,857).

The trustees have taken into account the Charity Commission's guidance on public benefit when exercising any powers or duties to which the guidance is relevant.

ACHIEVEMENT AND PERFORMANCE

Investment performance

For the year ended 30 June 2025, total incoming resources amounted to £51,258 (2024 £51,289) of which £51,258 (2024 £51,289) related to investment income.

Revaluation of investments amounted to profits of £90,709 (2024 profits of £210,209).

FINANCIAL REVIEW

Reserves policy

The Trust has two funds:

The restricted fund arises from the original capital, and changes thereto, which is required to be invested to provide income from which to meet the Trust's objectives. This fund at 30 June 2025 was £1,793,734 (2024 £1,789,372).

The unrestricted fund has built up from undistributed income and is available to meet the Trust's objectives. This fund at 30 June 2025 was £572,459 (2024 £535,350).

Worcester Rotary Club Sawyer Trust Trustees' Annual Report for the year ended 30 June 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Charity was incorporated under the will of Mrs Frances Joyce Sawyer who died on 18 July 1978. On 13 April 1981 the Trust was registered with the Charity Commission, number 511276.

In September 2006 the scheme was modified by the Charity Commission to allow the sale of Meadows Farm, the property of the Trust.

The scheme establishing the new Trust - WORCESTER ROTARY CLUB SAWYER TRUST - came into effect on 12 December 2006. This scheme was then amended to allow establishment of a board of nine Trustees. This amendment was accepted by the Charity Commission and in April 2007 the Commission granted full approval allowing the new board of trustees to administer the Trust.

Recruitment and appointment of new trustees

The Trustees are appointed by the Rotary Club of Worcester in General Meeting.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity registration number 511276 Principal Address PO Box 797 Worcester WR4 4BU Trustees R J Brown D A Lees (resigned 30 June 2025) N S Wake I Sonley M C J Stone P Denham A J Wright P Stone S King (resigned 30 June 2025) V Firminger (appointed 1 July 2025) M Henley (appointed 1 July 2025)

Independent Examiner S E M Bishop FCA Bishops Accountancy Limited Unit 3 Elgar Business Centre Moseley Road Hallow Worcester WR2 6NJ

This report was approved by the board of trustees on . and signed on its behalf by

P Denham Trustee

Worcester Rotary Club Sawyer Trust

Independent examiner's report to the trustees of Worcester Rotary Club Sawyer Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2025

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2 the accounts do not accord with those records; or
3 the accounts 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 across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

S E M Bishop FCA Bishops Accountancy Limited Unit 3 Elgar Business Centre Moseley Road Hallow Worcester WR2 6NJ

Worcester Rotary Club Sawyer Trust Statement of Financial Activities for the year ended 30 June 2025

Notes Income and endowments from: Investment income 2 Expenditure on: Raising funds 3 Charitable activities 4 Total Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted funds £ 51,258 3,048 83,654 86,702 72,553 37,109 - 37,109 535,350 572,459	Restricted funds £ - 13,794 - 13,794 18,156 4,362 - 4,362 1,789,372 1,793,734	Total 2025 £ 51,258 16,842 83,654 100,496 90,709 41,471 - 41,471 2,324,722 2,366,193	Total 2024 £ 51,289
				16,232 91,331
				107,563
				210,209
				153,935 -
				153,935
				2,170,787
				2,324,722

All income and expenditure derive from continuing activities.

Worcester Rotary Club Sawyer Trust Balance Sheet as at 30 June 2025

Notes Fixed assets Investments 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Net assets Charity funds 10 Unrestricted funds Restricted funds Total charity funds	2025 £ 2,265,461 1,587 104,520 106,107 (5,375) 100,732 2,366,193 572,459 1,793,734 2,366,193	2024 £ 2,250,793 - 79,283 79,283 (5,354) 73,929 2,324,722 535,350 1,789,372 2,324,722	2024 £ 2,250,793 - 79,283 79,283 (5,354) 73,929 2,324,722 535,350 1,789,372 2,324,722

			2,324,722
			535,350 1,789,372
			2,324,722

The financial statements were approved and authorised for issue by the Board on and signed on its behalf by:

A J Wright - Trustee

P Denham - Trustee

Worcester Rotary Club Sawyer Trust Notes to the Accounts for the year ended 30 June 2025

1 Accounting policies

Basis of preparation

Worcester Rotary Club Sawyer Trust is a registered charity regulated by the Charity Commissioners for England and Wales.

The charity constitutes a public benefit entity as defined by FRS 102. 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 Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Worcester Rotary Club Sawyer Trust Notes to the Accounts for the year ended 30 June 2025

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Taxation

The charity is exempt from tax on its charitable activities.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2 Investment income Fixed asset investment income UK Fixed asset investment income non-UK 3 Raising funds Investment management charges	2025 £ 29,712 21,546 51,258 2025 £ 16,842	2024 £ 30,680 20,609
		51,289
		2024 £ 16,232

Worcester Rotary Club Sawyer Trust Notes to the Accounts

for the year ended 30 June 2025

4 Charitable activities Applicant payments Sundry expenses Independent examiner's fee	2025 £ 80,992 1,462 1,200 83,654	2024 £ 87,857 2,274 1,200
		91,331

5 Remuneration of trustees and key management personnel

The Trust considers its key management personnel comprise the Trustees. The trustees neither received nor waived any remuneration or benefits in 2025 or 2024.

There were no employees of the Trust in 2025 or 2024

6 Trustees' expenses

Trustees' expenses of £27 were reimbursed in the year (2024: £49).

7 Investments

Carrying value At 1 July 2024 Additions at cost Disposals at carrying value Revaluation At 30 June 2025 8 Debtors 9 Creditors: amounts falling due within one year Accrued expenses Sundry debtors	UK listed investments £ 984,041 284,852 (275,908) 15,515 1,008,500	Non-UK listed investments £ 1,266,752 291,121 (349,964) 49,052 1,256,961 2025 £ 1,587 2025 £ 5,375 5,375	Total £ 2,250,793 575,973 (625,872) 64,567
			2,265,461
			2024 £ -
			2024 £ 5,354
			5,354

Worcester Rotary Club Sawyer Trust Notes to the Accounts for the year ended 30 June 2025

10 Movement in funds

Movement in funds
At 1 July 2024 £ Unrestricted funds Unrestricted 535,350 Restricted funds Restricted 1,789,372 Total funds 2,324,722 Comparatives for movement in funds At 1 July 2023 £ Unrestricted funds Unrestricted 523,520 Restricted funds Restricted 1,647,267 Total funds 2,170,787	Incoming resources £ 51,258 - 51,258 Incoming resources £ 51,289 - 51,289	Outgoing resources £ (86,702) (13,794) (100,496) Outgoing resources £ (94,621) (12,942) (107,563)	Gains and losses £ 72,553 18,156 90,709 Gains and losses £ 55,162 155,046 210,208	At 30 June 2025 £ 572,459 1,793,734
				2,366,193
				At 30 June 2024 £ 535,350 1,789,372
				2,324,722

11 Analysis of net assets between funds

Analysis of net assets between funds
Fixed asset investments Cash at bank and in hand Other current assets/liabilities Total Fixed asset investments Cash at bank and in hand Other current assets/liabilities Total	Unrestricted funds 2025 £ 533,656 42,591 (3,788) 572,459 Unrestricted funds 2024 £ 509,465 31,239 (5,354) 535,350	Restricted funds 2025 £ 1,731,805 61,929 - 1,793,734 Restricted funds 2024 £ 1,741,328 48,044 - 1,789,372	Total 2025 £ 2,265,461 104,520 (3,788)
			2,366,193
			Total 2024 £ 2,250,793 79,283 (5,354)
			2,324,722

12 Related party transactions

There were no related party transactions in the year (2023: £nil).