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REGISTERED COMPANY NUMBER: 06426134 (England and Wales)
REGISTERED CHARITY NUMBER: 1123152














REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

THE RATCLIFFE FOUNDATION

THE RATCLIFFE FOUNDATION






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Statement of Financial Position 6 to 7

Notes to the Financial Statements 8 to 10

THE RATCLIFFE FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 NOVEMBER 2023



TRUSTEES M R Ratcliffe MBE
Mrs P R Ratcliffe
Mrs J S Hill


REGISTERED OFFICE Wolseley House
Oriel Road
Cheltenham
Gloucestershire
GL50 1TH


REGISTERED COMPANY NUMBER 06426134 (England and Wales)


REGISTERED CHARITY NUMBER 1123152


INDEPENDENT EXAMINER BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX

THE RATCLIFFE FOUNDATION (REGISTERED NUMBER: 06426134)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the Charity is to receive donations and use them in support of other local charities and deserving causes.

Public benefit
In planning the charity's activities for the year the trustees kept in mind the Charity Commission's guidance on public benefit.

The focus of the charity's activities during the year, which explains the delivery by the charity of public benefit, is set out below under 'achievement and performance'.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the Charity received donations of £36,407, which was sufficient to cover core costs and to allow the Charity to maintain its support of other local charities.

FINANCIAL REVIEW
Reserves policy
The Trustees annually review the Reserves Policy bearing in mind the current and anticipated financial performance of the Charity. In recent times, there have been additional challenges raised by the coronavirus pandemic and other global economic factors for the Trustees to consider.

The Trustees believe it is important to monitor and assist where appropriate the local charities to which donations are made. This important activity has seen increased costs since the strategy was formally introduced in January 2017 and therefore it is appropriate for the Trustees to maintain the cost-based reserves policy that was introduced at that time.

The Trustees consider it appropriate for there to be sufficient Unrestricted Funds to cover 3-6 months' unrestricted charitable expenditure, excluding grants paid, in the unlikely event that there is a material reduction in income.

Based on the Statement of Financial Activities for the year to 30 November 2023, unrestricted charitable expenditure, excluding grants paid, amounted to £8,587 (2022: £18,819) and therefore the policy would require unrestricted funds as at 30 November 2023 of at least £1,880 (2022: £4,704). Unrestricted funds at the year-end were £5,812 (2022: £8,742), which therefore shows a surplus against the minimum target of the reserves policy of £3,932 (2022: £4,038).

FUTURE PLANS
The Trustees are satisfied with the achievements of the Charity and will continue with the policy that it has established of supporting small charitable organisations.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Ratcliffe Foundation was formed on the 13 November 2007 as a company limited by guarantee and is governed by its Memorandum and Articles of Association as amended by Special Resolution dated 5 March 2008.

Recruitment and appointment of new trustees
The power to appoint new trustees is vested in surviving and continuing trustees.

THE RATCLIFFE FOUNDATION (REGISTERED NUMBER: 06426134)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Charity is incorporated as a company limited by guarantee, and therefore it has no share capital. In the event of the company being wound up and the liabilities and winding up expenses being in excess of assets, the liability of each member is limited to £1.

The charity is controlled by a Board of Trustees, which meets on a regular basis.

Risk management
The Trustees actively review the major risks that the Charity faces on a regular basis and believe that maintaining its current reserves policy, combined with an annual review of the controls over key financial systems, will provide sufficient resource for the Charity going forward. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Ratcliffe Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which 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 charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and 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 business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies 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.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 28 August 2024 and signed on its behalf by:





M R Ratcliffe MBE - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE RATCLIFFE FOUNDATION

Independent examiner's report to the trustees of The Ratcliffe Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 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:

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.








Roger F Downes FCA

BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX

28 August 2024

THE RATCLIFFE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 NOVEMBER 2023

30.11.23 30.11.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 36,407 74,500

EXPENDITURE ON
Raising funds 3 7,520 18,691

Charitable activities 4
Charitable 31,817 47,128
Total 39,337 65,819

NET INCOME/(EXPENDITURE) (2,930 ) 8,681


RECONCILIATION OF FUNDS
Total funds brought forward 8,742 61

TOTAL FUNDS CARRIED FORWARD 5,812 8,742

THE RATCLIFFE FOUNDATION (REGISTERED NUMBER: 06426134)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Debtors 9 - 6,250
Cash at bank 8,247 4,852
8,247 11,102

CREDITORS
Amounts falling due within one year 10 (2,435 ) (2,360 )

NET CURRENT ASSETS 5,812 8,742

TOTAL ASSETS LESS CURRENT LIABILITIES 5,812 8,742

NET ASSETS 5,812 8,742
FUNDS
Unrestricted funds 5,812 8,742
TOTAL FUNDS 5,812 8,742

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


THE RATCLIFFE FOUNDATION (REGISTERED NUMBER: 06426134)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 28 August 2024 and were signed on its behalf by:





M R Ratcliffe MBE - Trustee

THE RATCLIFFE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The charitable company relies on donations for its funding, which are naturally more uncertain in the difficult times created by the current coronavirus pandemic and global/national economic conditions. The charitable company has a low overhead cost base and uses the majority of the funding that it generates to provide grants to other charities.

The directors have considered the level of funding required to sustain the overhead base for a period of more than twelve months from the date of approval of these financial statements and are confident of generating those funds, despite the ongoing uncertainties of the pandemic and external economic conditions.

As a result the directors believe that the charitable company will be able to continue to operate as a going concern and have drawn up the financial statements on that basis.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

THE RATCLIFFE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. DONATIONS AND LEGACIES
30.11.23 30.11.22
£    £   
Corporate Donations 120 -
Personal Donations 29,000 69,000
HMRC Gift Aid 7,287 5,500
36,407 74,500

3. RAISING FUNDS

Raising donations and legacies
30.11.23 30.11.22
£    £   
Consultancy 7,520 17,520
Support costs - 1,171
7,520 18,691

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct activities Support
Costs (see (see note costs (see
note 5) 6) note 7) Totals
£    £    £    £   
Charitable 78 30,750 989 31,817

5. DIRECT COSTS OF CHARITABLE ACTIVITIES
30.11.23 30.11.22
£    £   
Sundries 78 128

6. GRANTS PAYABLE
30.11.23 30.11.22
£    £   
Charitable 30,750 47,000
The total grants paid to institutions during the year was as follows:
30.11.23 30.11.22
£    £   
Grants to institutions 30,750 47,000



THE RATCLIFFE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. SUPPORT COSTS
Governance
costs
£   
Charitable 989

Support costs, included in the above, are as follows:
30.11.23 30.11.22
Total
Charitable activities
£    £   
Accountancy 989 1,171

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
HMRC Gift aid - 6,250

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 1,460 1,460
Accrued expenses 975 900
2,435 2,360

11. RELATED PARTY DISCLOSURES

One of the trustees donated £29,000 (2022: £69,000) to the Foundation during the year.

Another of the trustees provided consultancy services during the year on an arm's length basis, totalling £7,520 (2022: £17,520).