REGIrnED CHARITY NUMBER: S271h8 THE SIR RICHARD RAYNES FOUNDATION AND OThEI (worklng nome.. Roynes Trustj RECEIPTS AND PAYMENTS AccouNrs FOR ThE YEAR ENDED 30 June 2024
THE SIR RICHARD IIAYNES FOUNDATION AND OTHER5 TRUSTEES REPORT 30th JUNE 2024 Registered Charity No 52rA18 Honorary Secretary to the Trustees: Dr. C. J. Rupp 4, Laura Davies Close. Melton Mowbray, LE13 IEG The Sir Richard Raynes Foundation and Others Is govemed by a scheme dated 13th December 2001 Issued by The Charity Commisslon for England and Wales under the poVr given in the Charities Act 1993 incorporating the charities previously known as The Charitie5 of Sir Richard Raynes IRaynes Trust and Thomas Hartopp and Others (Melton Local Bequests) and amended by schemes dated 7th November 2011 and 18th November 2014. The prindpal address is, Laura Davie5 Close, Melton Mowbray, LE13 IEG. Under the tern)s of the go¥pming document the Incwnbent of the thurch of England Team Parish of Melton Mowbray serves as an ex-officio Trustee, two Trustees are nominated by the Parochial Church Council of the Team Parish of Melton Mowbray and slx other Trustees are co-opted In accordance wlth the Scheme. Nominated and w-opted Trustees serve for four years after which they can be nominated or co-opted for a furtherterm. Two Trustees Inominated and co-opted) tIre each year. New co-opted trustees are invited by the exi5tin8 body of Trustees to accept appolntment. The Trustees on the 30thof June 2024 were: Rev. Dr. Mary Barr Ms Louise Finn Mrs Alison Freer-jones Ms Adrlenne Holland Mr Roger Kirby Mr lan Neale Mrs Catherine Shenton Mr Keith Wilson Mr Chrlstopher Joseph Team Rertor, Parish of Metton Mowbrav Nominated Tmstee Chaiman of Trustee5 Nominated Trustee The Aa of benefft is the town of Melton Mowbray In the County of Leicestershire. The objects of the Charity are to promote the education of persons under the age of 27 who are In need of financial assistance. who are resident in the area of benefit. or who attend, or have attended for a period of at least 2 years a school or college in the area of benefit- the relief of persons resident In the area of benefit who are in need. hardship or distress- and to further the religious and other charitsble works of the Church of England in the area of benefit. Appllcations for a55iStance are considered by the Trustees at quarterly meetings or more often if there is a need. Grants are made in actordance with the objerts of the Charity to individuals or organisations on their behalf such as schools. clubs and other local charitable institutlons which work towards the advancement of education in the area of benefit. The Trustees have an arrangement with Leicester Charity Link of Leicester Charity Organisation Sotiety Ltd (Registered Chartty No. 10782711 to assist with the assessment of hardship applications and to distribute funds accordingly. Leicester Charity Organisation Society Ltd Is an Old established charity with a vast experience and the resource5 to deal with hardship applications. The Trustees delegate the day-to-day administration of the Charity to the Honorary Secretary.
THE SIR RICHARD RAYNES FOUNDATION AND <miERS TRUSfEES REPORT Contd. Within the rules of the Scheme the Twstees consider applications from as many dtfferent person5 or community Groups as possible. Duringthe year ending 30th June 2024 total grants of £35,269.45 were paid to help and support young people and their families. and others In need. with payments directly to the individuals themselves Of to organisations on their behalf including- £14,713. indrvidual young people- for educational expenses. including travel £1,321.03 to students for books and learning equipment £2.503.87 local community groups and the church £12,470.55 to schoo15 for specific projects £1.SCrf).(Ki to Raynes scholarships to students £500.00 to Shouler bursaries to students for further education Administration expenses and governance costs amounted to £204.. However, there Is an outstanding cost of £1,500 to the Honorary Secretsry. which will be paid in the next financial year. Grant payments have increased considerdbly in several categories. compared to the previous year, 2022-23. although for Books & Equipment the totsl payment was slightly reduced. Most of the increases are due to the funding of larger projects, such as a library refurbi5hrnent at The Grove Primary school, and travel grants for larger group trips. Income is received quarterly from investments held in the CCLA Ethical investment aCCOUDts to which the tru5t'5 investments were transferred on 2 July 2021. A deposit account with CCLA also holds £3,000 as a buffer for unexpected demand. The Trustees, policy is to maintsin the Endowment Funds to realize the optimum income for distribution as grant. Cash funds carried forward to 2024-25 were £80.315 plus £3,OCQ In the deposit account. The Trustees have reviewed the attached financial staternent as at 30th June 2024 and conslder thls to be a falr and sound position. The Trustees hold a current account with HSBC at 17 Hi8h Street. Melton Mowbray. Leicestershlre, LE13 ori, with access to online banklng The Independent Examiner is Amanda Cornforth of Panda Bookkeepin& Fargate Barn, 2a Main Street, Holwell, Melton Mowbray LE14 4SL lan Neale lan Neale Trustee J. Rupp Honorary Secretsry to the Trustees
THE SIR RICHARD RAYNES FOUNDATION AND OTHERS Date STATEMENT OF ASSETS AND UABILMES June 2024 2024 2023 INVESTMENTS Inote l) 846.680 846.680 mONARy ASSETS Bank- current account Deposit account 80,315 76,693 83,315 79,693 NEf ASSETS 929,995 926,373 Funds: Income Fund Unrestrlrted genernl purpose Balance at the beginning of the financial year Net Ipaymentl receipts for the year 138.939 3,622 111,548 27,391 8alance at the end of financlal year 142,561 138.939 Permanent Endowment Fw Balance at the end of financlal year 787,434 787.434 TOTAL FUNDS: 929,995 926,373 Approved by he trustees on 3jUne 2024 and signed on their behalf by: l. A. Neale - Trustee C. J. Rupp- Honorary Secretary to the Trustees
THE SIR RICHARD RAYNES FOUNDATION AND ¢YIHERS REIpTs AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Recdpts.. Income from Investments Unrestricted COIF Investment Fund Income Units Endowment funds COIF shares dividend Charities deposlt account Interest Other income Returned Grants Total Receipts 2,725.12 36,219.34 150.83 2.703.14 35.927.25 78.77 39,095.29 38,709.16 Payments: Children's Clothlng and Footwear People in need Educational Grants payable IndivSduals Books & Equipment to Students Community Groups & Church Local schools & colleges Raynes Scholarships Shouler Bursaries 2,261.00 14,713.1x1 1,321.03 2.S03.87 12,470.55 I,soo.00 500.00 3,124.C 2.258.07 1,416.50 1.490.00 1,500.00 500.CN) Admlnlstratlon: Admin fee Leicester Charty Link Post, reprographics, phone Independent Examiner remuneration Gifts Room Hlre Bank Admln costs: 0.00 0.00 ICN).00 367.96 550.IK) 51.50 60.CKI 1,029.46 204.00 35.473.45 11,318.03 Net (payments) Reeelpts lor year. 3.621.84 27,391.13
THE SIR RICHARD RAYNES FOUNDATION AND OThERS NOTES TO YHE RECEIPTS AND PAYMEKfs ACCOUNTS FOR THE YEAR ENDED 30JUNE 2024 I. INvESTMErs 2024 2023 Investments The investment income consists of COIF income ShaS. Since changing to the receipts and payments basts the assets have not been revalued. 63,579 COIF income shares are held as permanent endowment to generate income for the general purpose of the foundation. The Investment is therefore held In a restrlcted fund, while the income generated is transferred to the unrestricted fund as it is earned. A legacy received in 2¢1, the sale proceed5 of land in 2(Kll and a donation in 2014 have been Invested in 4,783 COIF income shares which a held to generate income for the general purpose5 of the Foundation. The iftvestment is, therefore, held in an unrestrlcted fund (see note 31. 2. FUNDACCOUNTING Funds held by the charity are: Unrestrlcted general funds - these are fund5 which can be used in accordance with the charltable objects at the discretfion of the trustees. Deslgnated funds- these are unrestrlrted funds earmarked by the trustees for particular purposes. Restrirted funds - these are funds that can only be used for particular, restrirted purposes wlthln the objects of the charity. Restrictions arlse when specified by the donor or when funds are raised for particular, restrlcted purposes. Permanent Endowment fund5 these funds represent those assets which must be held permanently lty the charity, principally investrnents. Income arising on the endowment fund5 tan be used in accordance with the objects of the charity and Is Included as unrestricted income. 3. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS InVestts Bank Totsl Balances 2024 Re5trlrted funds Permanent Endowment 787 434 787.434 787,434 Unrestrfrted funds General 142 $61 846 680 83 315 Details of the permanent endowment fund are given in note 2 alM)ve.
I reportto the charity trustees on my examlnation of the xcourts of the charity forthe year ended 30 June 2024 whlch are set out on py 4 to 6. Resp([bIllI1es and ba515 of rewt A5 the thariWs trustees a responsible for the preparatlon of the acCInts In aeeor(lance wlth the requirements of the Charities Art 2011 (lhe ACVI. I report in $pert of my examlnation of the tharitys accounts carrled wt under SecTr 145 of the Act and In carrylng (xrt my examination I have fojlowed all the awicable Directlons irythe tharity COMMI undersedlon 145151{b}l of the Independent wmln*s ststement I have completed my examination. I confimi that no material matters have come to nry attentlon.ln connertion with the examination giving me cause to belie that in any material respert". l. Accourrt5r8 records re not kept In respect of the chaTIty a5 required by section 130 of the Act; or 2. The accounts (h) not accord wlth those records. I have no concerns and have corne acr055 no other matters in connection with the MinatiOn to whith attentlon 51Jould be drawn In thts reFK)rt In order to enaNe a proper understsnding of the accounts to be reached. io/f /zs. Amanda Comforth. Independent Examlner