The trustees present their annual report and financial statements for the year ended 30 November 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
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'.
During the year the Charity received donations of £43,725 and continued to maintain its support of other local charities.
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 2025, unrestricted charitable expenditure, excluding grants paid, amounted to £19,238 (2024: £6,535) and therefore the policy would require unrestricted funds as at 30 November 2025 of at least £4,810 (2024: £1,634). Unrestricted funds at the year-end were £2,294 (2024: £2,099), which therefore shows a deficit against the minimum target of the reserves policy of £2,516 (2024: £465).
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.
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.
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 purpose of company law, are responsible for preparing the Trustees' Report 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 Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
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 judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The Ratcliffe Foundation (the Charity) for the year ended 30 November 2025.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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:
accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The Ratcliffe Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Wolseley House, Oriel Road, Cheltenham, Gloucestershire, GL50 1TH, United Kingdom.
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The charitable company relies on donations for its funding, which are naturally more uncertain in the difficult times created by the recent coronavirus pandemic and global/national economic conditions. The charitable company has a low overhead cost base and aims to use 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 post-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.
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.
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.
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.
There were no trustees' remuneration or other benefits for the year ended 30 November 2025 nor for the year ended 30 November 2024. There were no trustees' expenses paid for the year ended 30 November 2025 nor for the year ended 30 November 2024.
The average monthly number of employees during the year was:
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
One of the trustees donated £33,690 (2024: £5,626) to the Foundation during the year.
Another of the trustees provided consultancy services during the year on an arm's length basis, totalling £5,520 (2024: £5,520).