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2023-03-31-accounts

Company registration number: 02118349 Charity registration number: 519405

Rural Community Action Nottinghamshire

(A company limited by guarantee) Annual Report and Financial Statements

for the Year Ended 31 March 2023

Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

Rural Community Action Nottinghamshire

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9 to 10
Balance Sheet 11
Notes to the Financial Statements 12 to 25

Rural Community Action Nottinghamshire

Reference and Administrative Details

Trustees Adam Whitchurch, Chair Ivan Annibal, Vice Chair James Naish Simon Patrick Tipping Cllr Seamus Martin Creamer Paul Peacock Sarah Bailey Secretary Alexandra Raynor Senior Management Team Alexandra Raynor, Director Jennifer Kirkwood, Director Charity Registration Number 519405 Company Registration Number 02118349 Registered Office Arnot Hill House Arnot Hill Park Arnold Nottingham NG5 6LU Independent Examiner John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL Bankers Natwest Bank Plc Newark 1 Market Place Newark Nottinghamshire NG24 1DY

Page 1

Rural Community Action Nottinghamshire

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2023.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Adam Whitchurch, Chair Ivan Annibal, Vice Chair James Naish Simon Patrick Tipping Cllr Seamus Martin Creamer Paul Peacock Sarah Bailey Cllr Hazel Brand (resigned 12 October 2022)

Structure, governance and management

Nature of governing document

The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 1 April 1987 and most recently amended by the certificate of incorporation on change of name dated 15 November 2007. It has no share capital and the liability of each member in the event of winding-up is limited to £1.

Recruitment and appointment of trustees

As vacancies arise, the Board consider on a skills basis the experience and skills needed to fulfil a fully strategic and committed Board. Vacancies are then advertised via networks or individuals approached from current partnerships. Interested parties then apply for the position and these are discussed by the Board before they are agreed and/or rejected.

There is currently a process for appointing district authority representatives on an annual basis. District representatives are proposed by the relevant authority and the Board then consider the proposed member at the Executive Board meeting at the nearest meeting following the recommendation being made.

Page 2

Rural Community Action Nottinghamshire

Trustees' Report

Objectives and activities

Objects and aims

"The Organisation is established to promote any charitable purposes for the benefit of the community in the County of the local government district of Nottinghamshire" as per the Memorandum and Articles of Association.

RCANs core Mission/Vision is to achieve thriving and sustainable rural communities. Further aims utilised to fulfil this Mission are outlined in an annual Strategic Plan under the following priority areas:

  1. Promote Economic Inclusion and Development across Rural Nottinghamshire;

  2. Address issues of inequality, social exclusion and vulnerability faced by people in rural communities;

  3. Support active community engagement, volunteering and social action.

These priorities guide the organisation's activity both operationally in the short term and strategically towards a longer term plan, allowing RCAN to fulfil its charitable aims and crystallise its core offer to the communities we serve.

Objectives, strategies and activities

RCAN's main activities as set out by our Business Plan 2021-22 were as follows:

  1. The development of an extension to our Town and Parish Council support through additional sold services and membership affiliation.

  2. Deliver the outcomes and objectives as cited in our existing district Service Level Agreements. Whilst outcomes were met for this year, the Covid pandemic halted some planned delivery as we diverted support to Covid related emerging needs.

  3. Community Consultation and Promotion - A re launch of 'paid for' membership affiliation continued throughout the year to attract additional opportunity.

  4. Village Halls support service - This service grew rapidly during 2020-21 as community buildings utilised our support and guidance to respond to the ever changing Covid governmental guidance governing activity and small business and community groups operating from our Village Halls and Community Buildings. This service has continued to grow and the demand has increased as our reach widens.

  5. Travelling Together - RCAN has managed a support service for Gypsy and Travellers across Nottinghamshire for 16 years. The funding for this work had significantly decreased in recent years as commission priorities altered. RCAN continued to protect a reduced input for specific pieces of support work and advice. The need for this service is evident and we worked hard to secure larger funding commitments to effectively support the capacity needed to deliver a wider and more effective service. This was realised as a Nottinghamshire County Council Local Communities bid was successful to deliver a four year project offering support for Gypsy and Travellers.

  6. Management oversight of a Country Park, facilitating meaningful volunteering and local level support through local community groups and organisations.

Public benefit

Communities feel more confident, informed and better resourced and to support social action for themselves by igniting or sustaining existing activity.

Community Buildings are connected to a professional and informed service and able to access both local and National best practice and individual advice for sustainability on a variety of levels.

Hard to reach or marginalised groups are better able to access services and support. Provision of green space and community accessible Country Park.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 3

Rural Community Action Nottinghamshire

Trustees' Report

Key work and Successes

Membership

Provision of membership support to individual groups and the wider members in the provision of one-to-one support, general advice and updates, visits to members to showcase good practice, training provision, events and networking.

Our members enjoyed support with :

Hall Talk

In the Autumn of 2022, we changed the format of our member newsletter Hall Talk moving from a PDF attachment to a link using Microsoft Sway. This has made the newsletter more accessible so that it can be read on a mobile, tablet or computer.

A snapshot of articles included :

We have seen an increase in businesses wishing to place adverts which has generated a small income to help support our membership offer and promote key services to our partnerships.

Page 4

Rural Community Action Nottinghamshire

Trustees' Report

Talk, Learn, Connect project

It’s Time to put the Unity back in your community and offer some TLC. Supporting 10 rural communities with FREE support to design, develop and facilitate events that help their community come together to Talk, Learn and Connect. NSDC, DEFRA and Lottery Funded.

• Social Media events for beginners workshop via MS Teams with Digirocks, to growth committee, build capacity and marketing events.

• RCAN Hosted an Energy saving workshop at Hockerton Housing Project which was attended by representatives from across the county, receiving key information to disseminate back to local areas.

• We gave direct support to 10 venues as part of the TLC project, offering one to one offer advice and support.

• RCAN hosted our first network event for rural community halls to coincide with Village Halls Week, with 62 representatives attending from 35 venues from across the county. Showcasing Celebration events, with key speakers and helping to build lasting Connections.

Travelling Together

Provision of an immediate intervention support service for GRT families across Nottinghamshire, funding through LCF and Defra.

  1. To prevent /reduce illegal encampment and accommodation related vulnerabilities through:

a. Provision of a helpline, triaging need, providing relevant signposting, advice and intervention to address need on a one-to-one basis.

b. Provide face to face access for outreach support across area as needed and in relation to those with the greatest needs and furthest from accessing mainstream services. Over 10 years of experience working with this community has shown that bespoke, culturally sensitive support gives the greatest impact for addressing need, creating independence, stabilising vulnerabilities and improving access to services.

c. Liaison and engagement with partner agencies to increase GRT understanding of service delivery and in order for partners to design service effectively in order to maximise engagement. Act as a conduit for ‘joining up’ provision across district to better support individual need, reduce duplication, improve communication and target wider County priorities.

  1. Stakeholder Advocacy and advice on good practice engagement and support for GRT minorities to feel more confident to engage positively. Improving liaison and brokerage between the community and statutory / partner agencies to ensure fair access and understanding of service provision across all GRT demographics.

Financial review

Despite a small deficit position and against a backdrop of a challenging funding climate ,with the aid of sound financial management and the support of staff, trustees, and key partners we have ensured the organisation has continued to meet and exceed its targets for our core work across rural communities. We have developed with confidence our Membership Scheme and diversified income streams to protect against financial uncertainties and to mitigate against unexpected changes in key funding. We look forward to the coming year and developing further the opportunities available to us to ensure RCAN continues to be a healthy, vibrant, and impactful community organisation.

Policy on reserves

RCAN’s Reserves Policy stipulated a two months' operating expenditure should be retained in free reserves. Our 31st March 2023 position meets this target and assumes no issues with liquidity as a result.

Page 5

Rural Community Action Nottinghamshire

Trustees' Report

Principal risks and uncertainties

Financial risks

• Continued changes to key funding priorities from grant giving organisations reducing infrastructure generation.

• Further reduction in Local and Central Funding due changing local and National political landscape i.e. uncertainty of how Devolution will impact the voluntary sector.

Page 6

Rural Community Action Nottinghamshire Trustees, Report Statement of Re$pon5ibiltties The trustees (who are also the directors of Rural Community Action Nottillghamshire for the purpo%es or company lawl are responsible tor preparing ihe irusiees, report and the financial statements in accordance with applicable law and United KTngdoTn Accounting Standard5 (United King7dom Generally Accepted Accounting Piacticel, including FRS 102 "The Finallcial Reporting Stalldard applicable in the UK and Repiiblic of Ireland The report ancl aictsunis have been prepaTed aLLOT(lanLe with the provisions in the Coinpanits Act 2006 relating to small companies. Company law ￿qUireS the trustees to prepare fin&n¢ial statements for each financial year. Under cotnpany law the trustees Inust not approve the financial staletnents unless they are satisfied that they give a true and tair view of the %iate of affairs of the ch2rilable company and of the in¢oming resources and application of re50UICe5, including its in¢onie and expenditure. of the charilablc company tor that period. In preparing these fjnoncial statenients, the trustees are required to.. select suitable accounting policies and apply them consisttntly; obseTre the method5 and principles in the Charitics SORP. make judgements and estimates that are reasonable and prudent; slale wljtther appliLable a¢Louniing biandardb, botllpflbing FRS 102 h(tv¢ ken followed. Subject to any material departiires disclosed and cxplaincd in the financial statements: and prepare the financial Statements on the going concen] basis unless it IS lllappropriate to presiime thai the charitable con)paJiy will continue in business. The ttusiees aTe iespvnsible fuT keeping pruper accounting record% that C2n di%clo%e with rea8onable accvrd¢y ai any time the financial po%ition of the charitable con)pany ard enable them to ensure that the fillancial statements comply with the Coillpanies Act 2006. They are also re5pon5ible for safeguaiMliJig the assets of ihe Lharilable conipany and hence foT taking reasonable step% for the prevention and detection of fr&ud and other irregularities. The trustees are re5pon5ible for the tnaintenat]ce and inte8rity of the corporate and fLnanci21 infomation included on the charil&ble company's website. Legislation bFoveming the preparation and di5semillation of rinanLial siaiemenis. may diffei fioin legFislation in otherjurisdiction%. Small c(bmpgnies provl8lon ￿tatement This report been prepared in accordance with the small companie5 ie ime under the Companies Act 2006. .,l3.. and signed on ils behall'by". The annual report was approved by the trustees of th¢ charity on . Adam Whitchurch Trusiee Page 7

Rural Community Action Nottinghamshire

Independent Examiner's Report to the trustees of Rural Community Action Nottinghamshire ('the Company')

Independent examiner’s report to the trustees of Rural Community Action Nottinghamshire ('the Company')

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

......................................

John O'Brien MSc, FAIA, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners

Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

Date:.............................

Page 8

Rural Community Action Nottinghamshire

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net expenditure
Other recognised gains
and losses
Actuarial gains/ (losses) on
defined benefit pension
schemes
Net movement in funds
Reconciliation of funds
Total funds brought
forward
Total funds carried forward
22		 Unrestricted
£
86,418
50,492
458
137,368
(147,666)
(147,666)
(10,298)
-
(10,298)
302,308
292,010		 Restricted
£
-
33,356
-
33,356
(33,356)
(33,356)
-
-
-
290,000
290,000		 Pension
reserve
fund
£
-
-
-
-
(99,000)
(99,000)
(99,000)
1,695,000
1,596,000
(1,890,000)
(294,000)		 Total
2023
£
86,418
83,848
458
170,724
(280,022)
(280,022)
(109,298)
1,695,000
1,585,702
(1,297,692)
288,010		 Total
2022
£
95,459
38,062
13
133,534
(264,104)
(264,104)
(130,570)
478,000
347,430
(1,645,122)
(1,297,692)

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 22.

The notes on pages 12 to 25 form an integral part of these financial statements. Page 9

Rural Community Action Nottinghamshire

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

These are the figures for the previous accounting period and are included for comparative purposes

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net expenditure
Transfers between funds
Other recognised gains and
losses
Actuarial gains/ (losses) on
defined benefit pension
schemes
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
22		 Unrestricted
£
95,459
37,552
13
133,024
(167,931)
(167,931)
(34,907)
29,196
-
(5,711)
308,019
302,308		 Restricted
£
-
510
-
510
(1,173)
(1,173)
(663)
(29,196)
-
(29,859)
319,859
290,000		 Pension
reserve fund
£
-
-
-
-
(95,000)
(95,000)
(95,000)
-
478,000
383,000
(2,273,000)
(1,890,000)		 Total
2022
£
95,459
38,062
13
133,534
(264,104)
(264,104)
(130,570)
-
478,000
347,430
(1,645,122)
(1,297,692)

The notes on pages 12 to 25 form an integral part of these financial statements. Page 10

Rural Community Action Nottinghamshire (Registration number: 02118349) Balance Sheet as at 31 March 2023 2023 2022 Note Fixed assets Tangible asset5 Tnvestnienis 12 290,472 190,000 290,944 190,000 480,472 480.944 Current assets Debiors Cash at bank and in hand 14 8.424 104,592 18,917 106,175 113,016 125,092 Creditor5: Amounts falling due withiD one year 16 111,4781 113,728} Net Current assets 101,538 111,364 Plet a$5ets excluding pcnsSon liability 582.010 592,308 Pen$lon scheme liability 20 1294,000 1.890,0001 Net asset511liabilitics) including penshoTh liability 288,010 11.297,()921 Fund5 of the eharity: Pension reserve fund 1294.0001 11,890,000) Restricted incotne funds Restricted 22 290,000 290,000 Unrtstrietcd Income fllnd5 Unrestricted 292,010 302,308 Total funds 22 288,010 11,297,6921 For the financial year endirtg JI March 2023 ihe charity was ¢nlitled LO exemption from Rudit undrr %eclinn 477 ofihe Coiiipanies Act 2onfi rclatingto small compAnies. D1￿Clo￿. responsibiliiie5'. The members havt not required the charity io obtain an 3udii of ils accounts ihe ye4r in que¥liort irLAeLurthrLC¢ with section 476.- The dirrytar% aeknowledge their respoD$Tbilities for complyirtB wilh the requirern¢n15 Of Ihc Act wilh reskKct io accounting ￿￿Ord¥ Jnd theprepar0¢i￿7 of aLxount&. Thcse financial siaiem¢nL% have Eoen prepared in ￿¢0[dan￿¢ with ihe special provisions r¢laiinÈ to com￿lte9 subject 10 Ihe 51Mall cornpanies regiine wiihin Part 15 of ihe Companies Aci 2006. ancial statement5 tsn pages 9 to 25 were approved by the trL]Stees. and authorised for issue on and signed on their bchalf by.. Adam Whitchurch Trustee The notes on pages 12 to 25 fomi an integral part of these financial statcments. P8ge 11

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Rural Community Action Nottinghamshire meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Page 12

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £150.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Motor vehicles 25% straight line
Fixtures & fittings 20% straight line
Computer equipment 33% straight line

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Page 13

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined benefit pension scheme. Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

Page 14

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

2 Income from donations and legacies

Donations and legacies;
Donations from companies, trusts and similar
proceeds
Grants, including capital grants;
Government grants
Grants from other charities		 Unrestricted
funds
General
£
5
45,833
40,580
86,418		 Total
2023
£
5
45,833
40,580
86,418		 Total
2022
£
10,291
43,588
41,580
95,459

3 Income from charitable activities

Bike rental
Grants & donations
Membership fees
Sales
Wind Turbine income
Sundry income		 Unrestricted
funds
General
£
-
-
7,595
15,412
25,160
2,325
50,492		 Restricted
funds
£
-
33,356
-
-
-
-
33,356		 Total
2023
£
-
33,356
7,595
15,412
25,160
2,325
83,848		 Total
2022
£
510
-
6,365
7,399
22,836
952
38,062

4 Grants & donations

Action with Communities in Rural England
LIS - Nottinghamshire Together
National Lottery Community Fund
Newark and Sherwood District Council
Nottinghamshire County Council
Rushcliffe Borough Council
Sundry donations		 Unrestricted
funds
£
40,580
27,333
-
-
-
18,500
5
86,418		 Restricted
funds
£
-
-
10,000
3,531
19,825
-
-
33,356		 Total
£
40,580
27,333
10,000
3,531
19,825
18,500
5
119,774

Page 15

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

5 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
6
Expenditure on charitable activities		 Unrestricted
funds
General
£
458		 Total
2023
£
458		 Total
2022
£
13
Staff costs
FRS102 Recognised
pension costs
Legal & professional
fees
Travel & subsistence
Motor expenses
Rent, rates, insurance &
services
IT support &
maintenance
Grants given
Depreciation
Bank & credit card fees
External room hire &
storage fees
Office & general
expenses
Telephone
Printing, postage &
stationery
Publications &
subscriptions
Publicity & promotional
Sundry expenses
Hospitality
Training		 Unrestricted
General funds
£
100,853
-
8,588
522
-
12,185
5,366
6,000
472
315
234
733
4,014
1,391
5,869
-
257
402
465
147,666		 Restricted
funds
£
Pension reserve
fund
£
32,172
-
-
99,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
96
-
-
-
453
-
-
-
190
-
-
-
445
-
-
-
33,356
99,000		 Total
2023
£
133,025
99,000
8,588
522
-
12,185
5,366
6,000
472
315
234
829
4,014
1,844
5,869
190
257
847
465
280,022		 Total
2022
£
126,797
95,000
6,925
369
1,173
12,207
3,794
6,000
472
228
405
438
1,947
2,239
5,846
-
264
-
-
264,104

Page 16

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

7 Net incoming/outgoing resources

Net outgoing resources for the year include:

Depreciation of fixed assets 2023
£
472		 2022
£
472

8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

9 Fees payable to independent examiner

During the period, the fees payable (excluding VAT) to the charity’s independent examiner are analysed as follows:

Independent examination
Other financial services		 2023
£
1,085
1,025
2,110		 2022
£
1,030
990
2,020

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
FRS102 pension service & interest costs		 2023
£
100,775
5,390
26,860
99,000
232,025		 2022
£
96,516
4,910
25,371
95,000
221,797

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

Average number of employees

2023 2022
No No
3 4

3 (2022 - 3) of the above employees participated in the Defined Benefit Pension Schemes.

Contributions to the employee pension schemes for the year totalled £26,860 (2022 - £25,371).

Page 17

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

No employee received emoluments of more than £60,000 during the year.

The total employee benefits of the key management personnel of the charity were £101,884 (2022 - £96,243).

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Cost
At 1 April 2022
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Land &
buildings
£
290,000
290,000
-
-
-
290,000
290,000		 Fixtures &
fittings
£
3,930
3,930
3,930
-
3,930
-
-		 Motor vehicles
£
14,568
14,568
14,568
-
14,568
-
-		 Computer
equipment
£
12,321
12,321
11,377
472
11,849
472
944		 Total
£
320,819
320,819
29,875
472
30,347
290,472
290,944

Included within the net book value of land and buildings above is £290,000 (2022 - £290,000) in respect of freehold land which is not depreciated, and £Nil (2022 - £Nil) in respect of leaseholds. The acquisition of the freehold land was funded by a grant. The conditions of the grant impose restrictions on the use of the land. There are also restrictions on the free sale or mortgage of the land.

Page 18

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

13 Fixed asset investments

Investment properties
Investment properties		 2023
£
190,000		 2022
£
190,000
Cost or Valuation
At 1 April 2022
Provision
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Investment
properties
£
190,000
-
190,000
190,000

The property was valued in 2018 by W A Barnes LLP, Chartered Surveyors, on an open market value for existing use basis.

The value of the land leased out to tenants is separately identifiable from the building and can be measured reliably, therefore this has been classed as investment property.

14 Debtors

14 Debtors
Trade debtors
Prepayments
VAT recoverable		 2023
£
3,530
4,556
338
8,424		 2022
£
14,622
4,295
-
18,917

15 Cash and cash equivalents

Cash on hand
Cash at bank		 2023
£
404
104,188
104,592		 2022
£
404
105,771
106,175

Page 19

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

16 Creditors: amounts falling due within one year

16 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals		 2023
£
4,548
2,299
428
4,203
11,478		 2022
£
5,834
3,641
428
3,825
13,728

17 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Printers/photocopiers/telephones
Within one year
Between one and five years
After five years		 2023
£
4,443
14,166
4,252
22,861		 2022
£
1,608
4,436
-
6,044

18 Charity status

The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

19 Related party transactions

There were no related party transactions in the year.

Page 20

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

20 Pension and other schemes

Defined benefit pension schemes Nottinghamshire County Council Pension Fund

The charity participates in the Nottinghamshire County Council Pension Fund, a multi-employer defined benefit final salary scheme. The scheme is administered for the benefit of Local Authority employees and other bodies and is managed in accordance with the Local Government Pension Scheme Regulations 2013. The administering authority for the Fund is Nottinghamshire County Council.

Contributions to the scheme are determined with advice of independent qualified actuaries on the basis of triennial valuations using the projected unit method.

The date of the most recent comprehensive actuarial valuation was 31 March 2022. In accordance with Financial Reporting Standard 102 (FRS 102), the actuaries have undertaken a valuation of the assets and liabilities of the scheme at 31 March 2023. Pension scheme assets are measured using market values. Pension scheme liabilities are measured using a projected unit method. The “present value of scheme liabilities” has been arrived at by projecting the results of the last full valuation as at 31 March 2022 forward to 31 March 2023.

The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was 99,000 (2022 - £95,000).

Reconciliation of scheme assets and liabilities to assets and liabilities recognised

The amounts recognised in the statement of financial position are as follows:

The amounts recognised in the statement of financial position are as follows:
Fair value of scheme assets
Present value of defined benefit obligation
Defined benefit pension scheme deficit
Defined benefit obligation		 2023
£
2,568,000
(2,862,000)
(294,000)		 2022
£
3,061,000
(4,951,000)
(1,890,000)

Changes in the defined benefit obligation are as follows:

Present value at start of year
Current service cost
Interest cost
Actuarial gains and losses
Benefits paid
Contributions by scheme participants
Present value at end of year		 2023
£
4,951,000
49,000
128,000
(2,179,000)
(93,000)
6,000
2,862,000

Page 21

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

Fair value of scheme assets

Changes in the fair value of scheme assets are as follows:

Fair value at start of year
Interest income
Return on plan assets, excluding amounts included in interest income/(expense)
Actuarial gains and losses
Employer contributions
Contributions by scheme participants
Benefits paid
Administration expenses
Fair value at end of year		 2023
£
3,061,000
79,000
(142,000)
(369,000)
27,000
6,000
(93,000)
(1,000)
2,568,000

Analysis of assets

The major categories of scheme assets are as follows:

Cash and cash equivalents
Equity instruments
Debt instruments
Property
Other bonds
Inflation - linked pooled fund and infrastructure		 2023
£
134,000
1,592,000
53,000
305,000
152,000
332,000
2,568,000		 2022
£
175,000
1,891,000
96,000
352,000
225,000
322,000
3,061,000

The pension scheme has not invested in any of the charity's own financial instruments or in properties or other assets used by the charity.

Principal actuarial assumptions

The principal actuarial assumptions at the statement of financial position date are as follows:

Discount rate
Future salary increases
Future pension increases
Post retirement mortality assumptions
Current UK pensioners at retirement age - male
Current UK pensioners at retirement age - female
Future UK pensioners at retirement age - male
Future UK pensioners at retirement age - female		 2023
%
4.80
3.95
2.95
2023
Years
21.00
24.00
22.00
25.00		 2022
%
2.60
4.20
3.20
2022
Years
22.00
25.00
23.00
26.00

Page 22

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

21 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Pension scheme liability
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Pension scheme liability
Total net assets		 Unrestricted
General
£
472
190,000
113,016
(11,478)
-
292,010
Unrestricted
General
£
944
190,000
125,092
(13,728)
-
302,308		 Restricted
£
290,000
-
-
-
-
290,000
Restricted
£
290,000
-
-
-
-
290,000		 Pension
reserve fund
£
-
-
-
-
(294,000)
(294,000)
Pension
reserve fund
£
-
-
-
-
(1,890,000)
(1,890,000)		 2023
Total funds
£
290,472
190,000
113,016
(11,478)
(294,000)
288,010
2022
Total funds
£
290,944
190,000
125,092
(13,728)
(1,890,000)
(1,297,692)

Page 23

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

22 Funds

Unrestricted funds
General
General fund
Restricted funds
Land Fund
Talk Learn Connect
(Lottery)
Talk Learn Connect (NSDC)
Travelling Together (NCC)
Total restricted funds
Other funds
Pension reserve fund
Total funds		 Balance at 1
April 2022
£
302,308
290,000
-
-
-
290,000
(1,890,000)
(1,890,000)
(1,297,692)		 Incoming
resources
£
137,368
-
10,000
3,531
19,825
33,356
-
-
170,724		 Resources
expended
£
(147,666)
-
(10,000)
(3,531)
(19,825)
(33,356)
(99,000)
(99,000)
(280,022)		 Other
recognised
gains/(losses)
£
-
-
-
-
-
-
1,695,000
1,695,000
1,695,000		 Balance at
31 March
2023
£
292,010
290,000
-
-
-
290,000
(294,000)
(294,000)
288,010

The specific purposes for which the funds are to be applied are as follows:

Talk Learn Connect - funded by the National Lottery Community Fund and Newark and Sherwood District Council -

Travelling Together - funded by the Nottinghamshire County Council -

Page 24

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2023

These are the figures for the previous accounting period and are included for comparative purposes:

Unrestricted funds
General
General fund
Restricted
Land Fund
Wheels to Work
Total restricted
funds
Other funds
Pension reserve
fund
Total funds		 Balance at 1
April 2021
£
308,019
290,000
29,859
319,859
(2,273,000)
(2,273,000)
(1,645,122)		 Incoming
resources
£
133,024
-
510
510
-
-
133,534		 Resources
expended
£
(167,931)
-
(1,173)
(1,173)
(95,000)
(95,000)
(264,104)		 Transfers
£
29,196
-
(29,196)
(29,196)
-
-
-		 Other
recognised
gains/(losses)
£
-
-
-
-
478,000
478,000
478,000		 Balance at
31 March
2022
£
302,308
290,000
-
290,000
(1,890,000)
(1,890,000)
(1,297,692)

Page 25