The regulator has opened an inquiry and moved to freeze the bank accounts of a charity subject to an investigation over its finances.

Concerns arose around The Jack Raine Community Foundation after the North Yorkshire Police informed the Charity Commission that a financial investigation was being conducted into the charity, the regulator said.

The York-headquartered charity has objects to promote community participation and recreation, in particular coaching in contact and non-contact martial arts, and education.

The commission made an unannounced visit to the charity’s premises in November 2016, to inspect its books and records. The regulator said in a statement that it found insufficient financial records and no evidence of trustee meeting minutes to reflect any decisions taken by the trustee board.

The commission said it has established further serious regulatory concerns which has escalated its engagement to a statutory inquiry.

The regulator has taken steps to freeze the charity’s bank accounts under the Charities Act 2011, to protect its assets.

The inquiry will examine whether the financial management of the charity is adequate, including whether appropriate financial controls are in place, and if funds were expended in furtherance of the charity’s objects.

It will look at the general administration, governance and management of the charity, and whether trustees have complied with the law.

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