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Annual Report and Accounts 2016-2017

Treloar's Annual Report and Accounts for year ended 31 August 2017

Statement of Trustees’

Statement of Trustees’ Responsibilities and Corporate Governance The Trustees are responsible for preparing the Strategic Report, the Annual Report and the Financial Statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the 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 Charity and of the incoming resources and application of those resources, including the income and expenditure, of the Charity for that period. In preparing these statements, the Trustees are required to: • Select suitable accounting policies and then apply them consistently; • Make judgements and accounting estimates that are reasonable and prudent; and • Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in business. 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 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. Corporate Governance The Trustees have overall responsibility for ensuring that the Charity has appropriate systems and controls, financial and otherwise to provide assurance that: • The Charity is operating efficiently and effectively; • All assets are safeguarded against unauthorised use or disposition and are properly applied; • Proper records are maintained and financial information used within the Charity, or for publication, is reliable; and • The Charity complies with relevant laws and regulations. In so far as the Trustees are aware: • There is no relevant audit information of which the Charity’s auditors are unaware; and • The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Internal controls over all forms of commitment and expenditure continue to be refined to improve efficiency. Processes are in place to ensure that performance is monitored and appropriate management information is prepared and reviewed regularly by both the executive management and the Trustees. The systems of internal controls are designed to provide reasonable but not absolute assurance against material mis-statement or loss. They include: • Strategic plans and annual budgets approved by the Trustees; • Regular consideration by the Trustees of financial results, variances from budgets, non-financial performance indicators and benchmarking reviews; • Delegation of day-to-day management authority and segregation of duties; and • Identification and management of risks. All major decisions are reserved to the Trustees and include appointment and renumeration of key management. Executive remuneration is set in consideration of the nature of the role, its responsibilities and market salaries. The Trustees and Governors all give of their time freely.

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