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2024-03-31-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 2024

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 6
Independent Examiner's Report 7
Statement of Financial Activities 8 to 9
Balance Sheet 10
Notes to the Financial Statements 11 to 24

Rural Community Action Nottinghamshire

Reference and Administrative Details

Trustees Adam Whitchurch, Chair Ivan Annibal, Vice Chair Simon Patrick Tipping Cllr Seamus Martin Creamer Paul Peacock 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 and auditors' report of the charitable company for the year ended 31 March 2024.

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 Simon Patrick Tipping Cllr Seamus Martin Creamer Paul Peacock James Naish (resigned 15 November 2023) Sarah Bailey (resigned 15 November 2023)

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.

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.

Page 2

Rural Community Action Nottinghamshire

Trustees' Report

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.

Achievements and performance

Key Work

Page 3

Rural Community Action Nottinghamshire

Trustees' Report

Spot Light on Successes

Cluster group network

We listened to the feedback received from our members via our first Annual Celebration Event asking for more opportunities for community facility volunteers to connect, share good practice and challenges and launched our Cluster Group Network.

RCAN facilitate the network clustering members, by location, topic, training or need, allowing attendees to build cross community connections. We host each group in a different community facility allowing members to see example of other facilities and properly celebrate the diversity of action taking place in our communities across Nottinghamshire.

Focused generally on specific areas, examples of theme have included:

The work is helping build a confident network of volunteers and our mission is to reach all their volunteers in a way that is engaging and ‘brings to life’ the challenges they face in ensuring community facilities remain sustainable and relevant to the communities which they serve.

We showcased our network in March with a Celebration Event attended by 68 representatives from 39 communities. With a theme of Halls go Green attendees had access to a range of presentations and information focussed on Energy Efficiency and supporting the environment locally.

SAY Now Project

Delivered through Rushcliffe SPK funding, this Project delivered a year’s worth of officer intervention in support of Community groups aiming to build community capacity, providing a powder key approach to igniting community action and encouraging community to sustain this action for themselves.

It focused on utilising community facilities as incubators and social hubs, providing opportunities for residents, businesses, community groups and all users, to work together for the good of their local area. We worked alongside the management committee volunteers from inception to delivery, providing:

• Practical support: advocacy, needs assessment, good practice examples, toolkits, training, resources, a physical presence, network and peer support, income generation funding advice and Marketing and advertising strategies. • Strategic Support: Implement and strengthen effective governance, meet statutory and building management responsibilities, create income strategies and business plans, sustainability and growth initiatives, succession planning, vision and community ‘buy in ‘ and build useful connections / partnerships,

We were pleased to record that over the course of the project we delivered 4 formal training and networking events, improved physically 5 community facilities, supported 97 volunteering opportunities, directly supported 15 groups, and held a successful Celebration end event which showcased the work undertaken in our communities.

Page 4

Rural Community Action Nottinghamshire

Trustees' Report

Financial review

We were thrilled to realise a surplus position despite a challenging funding climate. Prudent financial management, the diligence and hard work of our staff and ongoing support from our wonderful communities has enabled us to close this financial year positively and with optimism. We continue to appreciate and thank our funders, who have enabled us to deliver key work, target specific areas of need through restricted direct delivery funding. We thank all those who continue to support our work and recognise the impact we have in our communities. It is with excitement we enter the coming. and our 100th Year as an organisation. As always, we are continue our commitment to develop of our services through listening to our communities and tailoring our offer in support of them at the heart of all we do. With rigour we shall pursue any opportunity that allows us to expand our work further always in line with our Vision and Values, underpinned by integrity and passion.

Policy on reserves

RCAN’s Reserves Policy 2023-24 stipulated a two months' operating expenditure should be retained in free reserves. Our 31st March 2024 position meets this target and assumes no issues with liquidity as a result.

Principal risks and uncertainties

Financial risks

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

• Constraints on our member groups leading to reduced affordability to purchase our services or commit to ongoing membership.

• 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 ensuring their capacity to respond rapidly to unexpected opportunity or emerging need.

• Liability associated with us being a member of the Nottinghamshire County Councils defined benefit scheme, currently not impacting on viability.

Page 5

Ruril Communlty Actlon NottlnghAmshlre Trustees, Report Statement of Responslbllltles The trustees (who are also the directOT5 of Rural Community Action Nottinghamshire for the purposes of Conipany law) are re%ponsible for preparing the Iruslees, report and the financial statements in accordance with applicable law and United Kingdom Accounlin8 Standards (United Kingdom Generally Accepted Accounting Pra¢tice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. The rew)rt and accounts have been prepared in accordance with the provisions in the Companies Acl 2Th)6 latin8 to small companies. Company law requires the trustees to prepare financial ststements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give 8 true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including its income and expenditure. of the Charitable company for that period. In preparing the5c financial statements, the trustees are required to.. select Suitable accounting policies and apply them consistently. observe the meth(MJs and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards. comprising FRS 102 have been followe& subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless li is inappropriate to presume that the Charithble company will continue in business. The trustee5 are responsible for keeptng proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charttsbl¢ company and enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the ¢OTpofdie and financial infornwtion included on the charitable company's website. Legislation governing the preparation and dtssemination of financial ststements may differ from legislation in other jurisdictions. Small eompanles provision sts¢ement This report has been prepared in accordan¢e with the small companies regime under the Companies Act 2(Kl6. The annual report was approved by the tn￿te¢S of the charity ono¥/4£¥and signed on its behalf by: AthFGkncL Adam Whitchurch Trus Page 6

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 2024.

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.

a ...................................... 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:............................. 03/12/24

Page 7

Rural Community Action Nottinghamshire

Statement of Financial Activities for the Year Ended 31 March 2024 (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 income/(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
£
55,039
38,980
1,355
95,374
(74,111)
(74,111)
21,263
-
21,263
292,010
313,273		 Restricted
£
-
111,708
-
111,708
(111,708)
(111,708)
-
-
-
290,000
290,000		 Pension
reserve
fund
£
-
-
-
-
(31,000)
(31,000)
(31,000)
147,000
116,000
(294,000)
(178,000)		 Total
2024
£
55,039
150,688
1,355
207,082
(216,819)
(216,819)
(9,737)
147,000
137,263
288,010
425,273		 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

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 11 to 24 form an integral part of these financial statements. Page 8

Rural Community Action Nottinghamshire

Statement of Financial Activities for the Year Ended 31 March 2024 (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
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

The notes on pages 11 to 24 form an integral part of these financial statements. Page 9

Rural Communlty Actlon Nottlnghamshlre (Registratlon number: 02118349) Balance Sheet as at 31 March 2024 2024 2023 Nole Flxed 85ets Tan8ible assets lftvestments 12 13 290.(M)O 190,000 290,472 480.000 480,472 Current assets Debto C&sh at bank and in hand 14 15 2,960 135,519 8,424 104,592 138,479 113,016 Creditors: Amounts falllng due within one year F4et current gssets 16 15,206 11,478 123.273 101.538 Net assets excluding penslon112bility Pension scheme Ilability Net assets including pension Ilability Funds of the charlty: Pension reserve fund 603,273 582,010 20 178,(KMI 294.(KK) 425,273 288.010 {178,0(K)) (294,IXM)) Restricted income fund$ 22 290,000 290,0(M) Unrestricted Income funds Unrestricted 313,273 292,010 Tot1 funds 22 425,273 288,010 F(r the year ¢ndin8 31 March 2024 the charity was ¢ntitled ￿ exemption frorn audii under section 477 of the CompAnits A¢¢ 2 re￿108 to rnll eompnies. The Memb￿ h•Y¢ not requirnl the charity lo obtain an audit of its accounts forthe year in question itt accord￿￿ with 47&. *t¥l Th¢ dirtt¢￿ xkTh)wlgJBe re8￿MIbl]Eti¢I for ci)mplying with the wirem¢Thi8 of the Aa with ffsptti to ￿cOUntIng rywrd% TheK fin•thci￿ 8t•wnrnts h•v¢ br¢n w¢pred in xYord8nce wlth the wiol provisions rei&iing to ¢L￿pani￿ subjert ￿ the sm&ll cixnpanies regime within p￿ 15 of th¢ Companiu Act 2(KJ6. Th¢ financial statements on pages 8 to 24 were approved by the lrnstees, and auihorised for issue on OA/.!z/&gand signed on their behalf by: Adam Whitchurch TnJ8tc¢ The notes on pages I I to 24 f()nn an integral part of iheso finan¢ial slfileni¢nls. Pag¢ 10

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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

Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the 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 11

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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 12

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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 13

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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
14,454
40,580
55,039		 Total
2024
£
5
14,454
40,580
55,039		 Total
2023
£
5
45,833
40,580
86,418

3 Income from charitable activities

Grants & donations
Membership fees
Sales
Wind Turbine income
Sundry income		 Unrestricted
funds
General
£
-
7,220
3,057
27,572
1,131
38,980		 Restricted
funds
£
111,708
-
-
-
-
111,708		 Total
2024
£
111,708
7,220
3,057
27,572
1,131
150,688		 Total
2023
£
33,356
7,595
15,412
25,160
2,325
83,848

4 Grants & donations

Action with Communities in Rural England
LIS - Nottinghamshire Together
NE Energy One Ltd
Newark and Sherwood District Council
Nottinghamshire County Council
Bassetlaw District Council SLA
Rushcliffe Borough Council SLA
Rushcliffe Borough Council
Gedling Borough Council SLA
Sundry donations		 Unrestricted
funds
£
40,580
-
-
1,466
-
-
-
10,488
2,500
5
55,039		 Restricted
funds
£
-
27,333
7,500
-
19,825
10,000
18,500
28,550
-
-
111,708		 Total
£
40,580
27,333
7,500
1,466
19,825
10,000
18,500
39,038
2,500
5
166,747

Page 14

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

5 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits		 Unrestricted
funds
General
£
1,355		 Total
2024
£
1,355		 Total
2023
£
458

6 Expenditure on charitable activities

Staff costs
FRS102 Recognised
pension costs
Legal & professional
fees
Travel & subsistence
Repairs & maintenance
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
£
51,520
-
2,420
472
200
2,339
1,120
6,800
472
238
618
548
3,233
1,722
1,994
-
52
363
-
74,111		 Restricted
funds
£
Pension reserve
fund
£
78,495
-
-
31,000
6,811
-
-
-
-
-
8,699
-
3,573
-
7,500
-
-
-
-
-
-
-
-
-
-
-
-
-
4,279
-
1,351
-
-
-
1,000
-
-
-
111,708
31,000		 Total
2024
£
130,015
31,000
9,231
472
200
11,038
4,693
14,300
472
238
618
548
3,233
1,722
6,273
1,351
52
1,363
-
216,819		 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

Page 15

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

7 Net incoming/outgoing resources

Net outgoing resources for the year include:

Depreciation of fixed assets 2024
£
472		 2023
£
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		 2024
£
1,210
1,470
2,680		 2023
£
1,085
1,025
2,110

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		 2024
£
101,872
5,280
22,863
31,000
161,015		 2023
£
100,775
5,390
26,860
99,000
232,025

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

Average number of employees

2024 2023
No No
3 3

3 (2023 - 3) of the above employees participated in the Defined Benefit Pension Schemes.

Contributions to the employee pension schemes for the year totalled £22,863 (2023 - £26,860).

Page 16

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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 £106,412 (2023 - £101,884).

11 Taxation

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

12 Tangible fixed assets

Cost
At 1 April 2023
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 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
11,849
472
12,321
-
472		 Total
£
320,819
320,819
30,347
472
30,819
290,000
290,472

Included within the net book value of land and buildings above is £290,000 (2023 - £290,000) in respect of freehold land which is not depreciated, and £Nil (2023 - £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 17

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

13 Fixed asset investments

Investment properties
Investment properties		 2024
£
190,000		 2023
£
190,000
Cost or Valuation
At 1 April 2023
Provision
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 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		 2024
£
-
2,960
-
2,960		 2023
£
3,530
4,556
338
8,424

15 Cash and cash equivalents

Cash on hand
Cash at bank		 2024
£
404
135,115
135,519		 2023
£
404
104,188
104,592

Page 18

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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		 2024
£
6,014
4,867
428
3,897
15,206		 2023
£
4,548
2,299
428
4,203
11,478

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		 2024
£
4,443
12,558
1,417
18,418		 2023
£
4,443
14,166
4,252
22,861

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 19

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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 2024. 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 2024.

The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was 31,000 (2023 - £99,000).

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		 2024
£
2,712,000
(2,890,000)
(178,000)		 2023
£
2,568,000
(2,862,000)
(294,000)

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		 2024
£
2,862,000
17,000
135,000
(31,000)
(99,000)
6,000
2,890,000

Page 20

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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)
Employer contributions
Contributions by scheme participants
Benefits paid
Administration expenses
Fair value at end of year		 2024
£
2,568,000
122,000
93,000
23,000
6,000
(99,000)
(1,000)
2,712,000

Analysis of assets

The major categories of scheme assets are as follows:

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		 2024
£
163,000
1,727,000
65,000
288,000
135,000
334,000
2,712,000		 2023
£
134,000
1,592,000
53,000
305,000
152,000
332,000
2,568,000

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
Inflation
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		 2024
%
4.90
3.95
2.95
3.25
2024
Years
21.00
24.00
22.00
25.00		 2023
%
4.80
3.95
2.95
3.30
2023
Years
21.00
24.00
22.00
25.00

Page 21

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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
£
-
190,000
138,479
(15,206)
-
313,273
Unrestricted
General
£
472
190,000
113,016
(11,478)
-
292,010		 Restricted
£
290,000
-
-
-
-
290,000
Restricted
£
290,000
-
-
-
-
290,000		 Pension
reserve fund
£
-
-
-
-
(178,000)
(178,000)
Pension
reserve fund
£
-
-
-
-
(294,000)
(294,000)		 2024
Total funds
£
290,000
190,000
138,479
(15,206)
(178,000)
425,273
2023
Total funds
£
290,472
190,000
113,016
(11,478)
(294,000)
288,010

Page 22

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

22 Funds

Unrestricted funds
General
General fund
Restricted funds
Land Fund
Local Communities Fund -
GRT (NCC)
Nottinghamshire Together
Rushcliffe SLA
Bassetlaw SLA
Wind Turbine Community
grant
Rushcliffe Say Now
Total restricted funds
Other funds
Pension reserve fund
Total funds		 Balance at 1
April 2023
£
292,010
290,000
-
-
-
-
-
-
290,000
(294,000)
(294,000)
288,010		 Incoming
resources
£
95,374
-
19,825
27,333
18,500
10,000
7,500
28,550
111,708
-
-
207,082		 Resources
expended
£
(74,111)
-
(19,825)
(27,333)
(18,500)
(10,000)
(7,500)
(28,550)
(111,708)
(31,000)
(31,000)
(216,819)		 Other
recognised
gains/(losses)
£
-
-
-
-
-
-
-
-
-
147,000
147,000
147,000		 Balance at
31 March
2024
£
313,273
290,000
-
-
-
-
-
-
290,000
(178,000)
(178,000)
425,273

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

Local Communities Fund – GRT (NCC) - the funding offers support and advice to the Gypsy and Traveller Community.

Nottinghamshire Together - this project is for infrastructure support to community groups, community buildings committees etc.

Rushcliffe SLA – for the administration of the Rushcliffe Annual Town and Parish Conference, and the governance and funding advice to community groups.

Bassetlaw SLA – governance and funding advice to community groups.

Wind turbine community grant – this fund is paid to RCAN as part of the planning permission for the wind turbine. It is all paid out to Annesley Parish Council, Newstead Parish Council and Friends of Newstead and Annesley Country Park as a community grant.

Rushcliffe Say Now – working within our communities to needs assess, plan, and develop projects, supporting groups to feel confident to maintain action for themselves and into the future.

Page 23

Rural Community Action Nottinghamshire

Notes to the Financial Statements for the Year Ended 31 March 2024

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

Unrestricted funds
General
General fund
Restricted
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

Page 24