REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
RKT Trust Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
RKT Trust Ltd |
RKT Trust Ltd |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 10 |
RKT Trust Ltd (Registered number: 08443548) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
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 31 March 2024. 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 |
To provide grants to organisations, charities and projects which improve the lives of young people. |
Significant activities |
In planning our activities for the year we kept in mind the Charity Commission's guidance on public benefit at our trustees meetings. The focus of the trust's activities is to provide support to young people through the projects it supports in the Rochdale Borough and Greater Manchester area. This improves their lives and wellbeing, in doing so benefitting the community as a whole. |
Grantmaking |
Projects apply to the trust for funding for specific projects as well as receiving support on an ongoing basis. We have provided grants to a number of organisations whose objectives are aligned with those of the trust. |
These grants have benefitted young disadvantaged people, including people with acute medical needs, by helping to provide training, educational and recreational facilities. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is constituted as a company limited by guarantee and its governing document is the memorandum and articles of association. All members have agreed to contribute a sum of not more than £10 in the event of a winding-up. The number of guarantors as at the date of the accounts was 3. |
Recruitment and appointment of new trustees |
The initial set up of the trust was undertaken by the three named members. Any future members will be identified with the required skills and experience to continue the trust's activities. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
RKT Trust Ltd (Registered number: 08443548) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
BMDC Accountancy Ltd |
Chartered Certified Accountants |
Block B Unit 3 |
Gatehead Business Park |
Delph New Road |
Delph |
Lancashire |
OL3 5DE |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
RKT Trust Ltd |
Independent examiner's report to the trustees of RKT Trust Ltd ('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: |
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. |
BMDC Accountancy Ltd |
BMDC Accountancy Ltd |
Chartered Certified Accountants |
Block B Unit 3 |
Gatehead Business Park |
Delph New Road |
Delph |
Lancashire |
OL3 5DE |
2 October 2024 |
RKT Trust Ltd |
Statement of Financial Activities |
for the Year Ended 31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Trewan Sands Childrens Trust | 2,500 | 3,000 |
1st Milnrow Scouts | - | 769 |
Milnrow Dynamos | - | 250 |
Sapere Aude Football Academy | - | 1,050 |
Wardle Football Club | - | 750 |
Rochdale Mayfield ARLFC | - | 750 |
Rochdale Sacred Heart Tigers Football Team | - | 750 |
Crompton FC | - | 300 |
St Ann's Morris Troupe | 750 | 300 |
Spotland Primary School | - | 200 |
Crossgates Primary School | - | 500 |
Rochdale Netball Juniors | - | 500 |
Rochdale Mayfield & Masters Rugby Club | - | 500 |
Middleton Band Archer Brass Section | 750 | - |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 998 |
RKT Trust Ltd (Registered number: 08443548) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 6 |
Unrestricted funds | 998 |
TOTAL FUNDS | 998 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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. |
RKT Trust Ltd (Registered number: 08443548) |
Balance Sheet - continued |
31 March 2024 |
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 |
RKT Trust Ltd |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
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. |
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. |
2. | OTHER TRADING ACTIVITIES |
31.3.24 | 31.3.23 |
£ | £ |
Fundraising events |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
RKT Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Charitable activities |
Trewan Sands Childrens Trust | 3,000 |
1st Milnrow Scouts | 769 |
Milnrow Dynamos | 250 |
Sapere Aude Football Academy | 1,050 |
Wardle Football Club | 750 |
Rochdale Mayfield ARLFC | 750 |
Rochdale Sacred Heart Tigers Football Team | 750 |
Crompton FC | 300 |
St Ann's Morris Troupe | 300 |
Spotland Primary School | 200 |
Crossgates Primary School | 500 |
Rochdale Netball Juniors | 500 |
Rochdale Mayfield & Masters Rugby Club | 500 |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 998 |
RKT Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Accrued expenses |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 998 | 1,602 | 2,600 |
TOTAL FUNDS | 1,602 | 2,600 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 6,880 | (5,278 | ) | 1,602 |
TOTAL FUNDS | ( |
) | 1,602 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 3,139 | (2,141 | ) | 998 |
TOTAL FUNDS | 3,139 | (2,141 | ) | 998 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 10,080 | (12,221 | ) | (2,141 | ) |
TOTAL FUNDS | 10,080 | (12,221 | ) | (2,141 | ) |
RKT Trust Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 3,139 | (539 | ) | 2,600 |
TOTAL FUNDS | 3,139 | (539 | ) | 2,600 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 16,960 | (17,499 | ) | (539 | ) |
TOTAL FUNDS | 16,960 | (17,499 | ) | (539 | ) |
7. | RELATED PARTY DISCLOSURES |