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 :
- Governance, Managing roles and succession planning
- Policies , Procedures and Compliance
- Safeguarding Responsibilities
- Holding meetings , managing committees
- Managing Volunteers and Staff
- Health and Safety and Hygiene
- Insurance, Services VAT and Rates
- Managing keys roles and volunteers
- Getting digitally connected
- Extensions, refurbishments and new builds
- Consultation and Engagement
- Grants, Fundraising and Income Generation
- Energy Efficiency and addressing the climate emergency
- Community Rights and getting your voice heard
- Community of Village Design statements
- Accessibility and Amenity Needs
- Access to Services
- Growing your groups
- A Critical Friend and point of contact
- Networking events
- Training and key information sessions
- 10% off RCAN consultancy services
## **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 :
- Showcasing good practice
- Funding and grants information
- Halls go Green
- Show us your Doors
- Safeguards is Every One’s Responsibility
- Towards Net Zero
- Rewilding Information
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.
2. 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.
- Small organisation and the capacity to respond rapidly to unexpected opportunity of emerging need.
- Liability associated with us being a member of the Nottinghamshire County Councils defined benefit scheme.
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.
D1Clo. 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¢i7 of aLxount&.
Thcse financial siaiem¢nL% have Eoen prepared in ¢0[dan¢ with ihe special provisions r¢laiinÈ to comlte9 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