# **The Rotary Club of Reading Abbey Trust Fund Report and Financial Statements** ## **Year ended : 30[th] June 2024 Charity no: 900389** 1. REPORT OF THE TRUSTEES FOR THE YEAR ENDING 30TH JUNE 2024 The Trustee of the Charity present their annual report together with the financial statements for the period from the 1 July 2023 to 30 June 2024. The trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements and the requirements of the charity’s governing document. ## 2. REFERENCE AND ADMINISTRATIVE INFORMATION ## **Trustees** Michael Baker Darren Holmes Frances Woolaway ## **Charity no: 900389** ## **Independent Examiner** Peter Mason ## **Bankers** Barclays Bank, 90-93 Broad Street, Reading RG1 2 AP ## 3. STRUCTURE, GOVERNANCE AND MANAGEMENT ## a) Constitution THE ROTARY CLUB OF READING ABBEY TRUST FUND is registered as a charity registered in England and Wales under the number 900389. The charity is constituted under a Trust Deed dated 7th December 1989. Under the constitution the Rotary Club of Reading Abbey has the power to appoint Trustees. ## b) Related Party Relationships The Charity has no related party relationships. ## c) Risk Management The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Public fundraising events are subject to risk assessments that are reviewed by the Trustees. ## 4. CHARITY ACTIVITIES AND OBJECTIVES ## a) Aims and Objectives The Charity works with its Rotary club membership of 19 Rotarians and other volunteers to provide charitable support and funding to support a wide range of charities and individuals both locally and in some cases internationally. It engages with local community groups, the general public and employers to generate charitable donations to support those in need. Business Objectives of the charity are: - To provide a high level of community service through projects and initiatives associated with the ideals of Rotary - To support a wide range of requests for funding to support community organisations and individuals who are experiencing financial pressures - To create a modest surplus within the financial plan from annual income streams, providing the Charity and its Rotary club members with financial resources for subsequent years activities - The Trustees give due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance. ## b) Strategies for achieving objectives 1. To provide a balanced activity programme for all our beneficiaries areas of the Charity. 2. To provide a range of fundraising activities to support local projects and individual requests for support 3. To provide a safe, supportive, and caring environment for all projects and activities 4. To promote to the public an open and transparent policy of accepting requests for support from all individuals, which celebrates their diversity. ## 5. ACHIEVEMENTS AND PERFORMANCE ## a) Review of activities The Charity has seen a decline in donations during the period due, primarily to the number of global disasters for which the charity raised funds for in the prior year and a return to a more typical program of activities in 2023-2024. The most significant fundraising is the work done on behalf of Children in Need, followed by the charity golf day. After 15 years of organising a 10k run, the Charity took the difficult decision to close this event down. The funds raised from the 10k had decreased year on year with increasing costs to operate the event and increasing challenges to staff and manage the event. A new event was introduced this year, a Duck Race, hosted in partnership with The Oracle shopping centre. The charity believes that this could become an annual event and early indications are very positive. The Duck Race is less labour intensive to plan and organise than the 10k run, it engages more of the public, and has the potential to grow year on year. Our partners, The Oracle, are excited to develop the event with us. Membership of the Rotary Club of Reading Abbey has decreased to 19 from 22 since the last year. However, two new classes of membership have been introduced and 3 past members are now considered Honorary members. Honorary membership has been introduced for the more senior past members, to recognise their contributions and retain their engagement. Corporate membership has been introduced and allows employers to have an association with Rotary. The Oracle have become corporate members and their staff have joined and participated in a number of Rotary events. During the year the charity supported 16 requests for charitable support and donations, the total charitable giving was £21,343. ## b) Financial Review The Trust had a surplus for 2023/24 of £3,349 having started the period with £7,963 in reserve which represents one third of the annual expenditure on charitable giving. The reserves are held to allow donations early in the following year in advance of major fundraising events. At the end of the year £11,312 was held in reserve. The principal funding sources for the Charity are the charitable donations and activities managed by Rotary club membership through the following projects - Charity Golf day - Duck Race - Public fundraising collections - Raffles - Christmas Greeting cards - Plant sales - Children in Need collections Much of the fundraising relies on Rotarians and willing volunteers. ## 6. GOING CONCERN AND RESERVES POLICY ## a) Going Concern Given the level of reserves held, the Trustees believe they have sufficient liquidity to meet the Charity’s liabilities for the next 12 months and that the preparation of the financial statements on a going concern basis remains appropriate as the company expects to be able to meet its obligations as and when they fall due for the foreseeable future. ## b) Reserves Policy Each year the Trustees review the financial position and allocate as appropriate to surplus funds, modest reserves in accordance with the Reserves Policy. Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expenditure. The trustees believe that the ideal level of reserves would be no less than £2000. ## 7. DISCLOSURES - Fundraising is managed by members of the Rotary Club of Reading Abbey through club activities and public events as detailed in section 5a. - No professional fundraisers were engaged by the charity. ## 8. TRUSTEE RESPONSIBILITIES STATEMENT The Trustees are responsible for preparing the charity’s report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The Trustees must prepare financial statements for each financial year. Under company law trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities SORP; - Make judgments and accounting estimates that are reasonable and prudent; - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the trustees on 26[th] March 2025 and signed on their behalf by: Darren Holmes Trustee of The Rotary Club of Reading Abbey Trust ## THE ROTARY CLUB OF READING ABBEY - TRUST FUND ## BALANCE SHEET AT 30TH JUNE 2024 |2024
2024
£
£
Current Assets
Balance at Current account
9,033
Tracker account
9,943
Loan to Members a/c
112
Debtor
Duckrace
95
Am Am 2024
516
19,699
Current Liabilities
AM AM
5,410
Creditors Foundation/other cha
4
Raffle president charity
265
Launch Reading
2,709
Waterside event
8,388
Net Assets
11,312
Represented by
Accumulated Fund
Opening Balance
7,963
Surplus/Deficit for year
3,349
11,312
General reserve
7,035
Ken Reserve
4,277
Total
11,312|2023
2023
£
£
5,457
9,809
40
109
250
15,665
5,100
565
743
1,152
120
7,680
7,985
9,802
1,817
-
7,985
3,708
4,277
7,985| |---|---| ## **THE ROTARY CLUB OF READING ABBEY - TRUST FUND INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 30th JUNE 2024** |||2024|2024|2023|2023| |---|---|---|---|---|---| |||£|£|£|£| |Income|||||| ||Bonus Ball|538||596|| ||Christmas Greetings|895||1,111|| |Easy Fundraising
Amazon Smile
President's charity
Gift Aid
Surplus from waterside
AM AM
Englefield Run
Children In Need
Earthquake Turkey & Syria
Duck race
Kids day out
Foodbank
Add
Donations Received
Grants received
Interest received
Expenditure
Reading rescue/equipment
Website costs
President raffle charity
RYLA & D4L
Waterside event
Charitable Giving
Surplus/Deficit for year|57
265
2,620
3,836
5,220
13,233
1,512
140
520
20,625
650
250
166
1,604
26,065
25
318
265
766
21,343
22,717
3,349|167
69
743
1,664
208
4,558
4,200
1,240
11,905
3,926
445
21,716
435
480
31
947
27,220
155
276
28,606
29,037
-1,817| |---|---|---| Accounts prepared by: Terry Spencer Treasurer, 18 September 2024 Independent examiner's report to the trustees of the Rotary Club of Reading Abbey Trust Fund I report to the trustees on my examination of the accounts of the Rotary Club of Reading Abbey Trust Fund (the Trust) for the year ended 30 June 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the p￿parats.0n of the accounts in accordance with the requirements of the Chanb'es Act 2011 ('the ACV). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under sectson 145{5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act., or 2. the accounts do not accord with those records. I have no concems and have come across no other matters in connection wtth the examination to which attention should be drawn in this report in order to enable a proper understanding of accounts to be reached. Signed.. Name.. Address.. 112EksknJ (AKE GItFoQ/J LJ*LLILEE4