The Building and Civil Engineering Charitable Trust
Annual report and financial statements for the year ended 30 September 2021
Charity number: 1004732
The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Contents
Page Trustees and advisers ..................................................................................................................................... 1 Trustees’ annual report .................................................................................................................................... 2 Independent examiner’s report to the Trustees of The Building and Civil Engineering Charitable Trust........ 9 Statement of financial activities ..................................................................................................................... 10 Balance sheet ................................................................................................................................................ 11 Notes to the financial statements................................................................................................................... 12
The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees and advisers
The following served as Trustees of The Building and Civil Engineering Charitable Trust during the year and up to the date of approval of the financial statements:
Chandrasekhar Ramamurthy Independent Chairman of B&CE Holdings Limited (B&CE)
Patrick Heath-Lay Group Chief Executive Officer of B&CE
Stephen Terrell Director of B&CE
Robert Blackman MBE Director of B&CE David Smith Director of B&CE (resigned 1 December 2020) Vaughan Hart Director of B&CE (appointed 1 December 2020)
Principal address Banker Manor Royal HSBC Bank plc Crawley 60 Queen Victoria Street West Sussex London RH10 9QP EC4N 4TR Secretary to the Trustees Solicitors Alena Aliokhna CMS Cameron McKenna Nabarro Olswang LLP Cannon Place Registered charity number 78 Cannon Street 1004732 London EC4N 6AF Contact details Email: charitabletrust@bandce.co.uk Independent examiner Tel: 0300 2000 600 Charles Homan FCA UHY Hacker Young (S.E.) Ltd 168 Church Road Hove East Sussex BN3 2DL
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees’ annual report for the year ended 30 September 2021
The Trustees present their annual report and financial statements of The Building and Civil Engineering Charitable Trust (the Trust) for the year ended 30 September 2021.
Our aims
The Trust aims to give back to construction. We focus on the needs of workers – past, present and future – to help make a better life possible for people in the construction industry.
We deal with individuals directly and through a growing network of other supporting organisations.
The Trust provides a range of awards, grants and support including:
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Financial support and guidance during times of need
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Contributions to the training and retraining of construction workers
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Grants to organisations that support workers with education and training in construction
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Funding for organisations looking to improve occupational health and safety in the construction industry
Objectives and activities for public benefit
The Trust was set up in 1991 to provide:
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Relief for people in times of need, such as unemployment, poverty, sickness or distress
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Education, training and retraining for operatives, past operatives and young people who want to start working in the construction industry
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Education, training and research for occupational health and safety initiatives in the construction industry.
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The aftermath of COVID-19 saw a significant increase in the number of enquiries coming into the Trust which resulted in holistic and financial support being given to a wide range of claimants.
We work with a variety of likeminded organisations who help us achieve our objectives.
The Trustees and management of the Trust refer to the Trust Deed when considering an application to ensure any decision fits with the objectives. Pages 3 to 5 feature examples of some of the grants the Trust has awarded.
The Trustees confirm they have referred to the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives, in planning future activities, and setting the annual grant making policy.
The examples described on pages 3 to 5, as with all the money awarded by the Trust, show how the Trust meets its legal and public benefit purposes, in line with the Charity Commission’s guidance.
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees’ annual report for the year ended 30 September 2021 (continued)
Achievements and performance
The Trustees are pleased with the achievements and performance of the Trust, and examples of its work can be found below.
1. Relief for people in times of need, such as unemployment, poverty, sickness or distress
During the year, grants paid under this objective amounted to £57,027(2020: £29,835). The grants paid covered a wide variety of needs and each individual payment was clearly aligned to this objective and the Charity Commission’s guidance on public benefit.
| The claimant approached the Trust having worked in construction for over 15 years as a scaffolder, whilst raising his 2 boys as a single parent. During the first lockdown, he discovered he needed emergency open heart surgery which sadly wasn’t fully successful and further surgery was required. As a result, the claimant is permanently disabled and unable to continue as a scaffolder and was made redundant in November 2020. The quadruple bypass surgery has left him with musculoskeletal pain in his back, neck and shoulders. The claimant was looking for help with an orthopaedic bed as he was having to sleep on a sofa. After providing the relevant documentation, the Trust was able to support him with the cost of the mobility aid he so desperately needed. |
“Thank you for the update and all your help in securing the funding for a bed to aid my recovery. I will be forever grateful to your organisation, but specifically yourself Faye. I'm not one to overstate words. Your help will change my world in regard to my disability. But more profoundly your kindness personally has given me strength of heart Thank You.” |
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees’ annual report for the year ended 30 September 2021 (continued)
Achievements and performance (continued)
2. Education, training and retraining for operatives, past operatives and young people who want to start working in the construction industry
Total grants paid to both corporate and individual recipients under this objective amounted to £100,573 (2020: £83,656).
The Trust awarded a total of £97,025 (2020: £82,712) to 16 (2020: 10) corporate recipients for education, training and retraining including:
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£5,000 to Crawley Open House who support homeless and vulnerable individuals within a 25-mile radius of Crawley. The centre opened in 1994 and today operates:
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a 24-bed high-support hostel
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5 'move-on' houses
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a drop-in day centre which is open 365 days a year
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a crisis food parcel service
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a community outreach team.
The centre supports a number of individuals who have construction backgrounds and the donation means the Trust can work in partnership with the centre to provide support to people looking to re-enter the construction industry.
- £5,000 to Smart Business Assistance (SBA) Project Community Interest Company (CIC). This organisation supports unemployed adults, helping them to gain skills and qualifications that lead to permanent employment. They also support businesses helping them to employ people who have been out of work for long periods of time.
The donation from the Trust will help unemployed adults gain construction-based qualifications. The money will help 15 individuals study the following courses:
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Level 1 BTEC in Construction course
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Level 1 Certification in Personal Development
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Level 1 Certificate in Health and Safety within a Construction Environment.
The aim is to have at least 10 of these students in employment in the construction industry within 4 weeks of successfully completing the training.
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees’ annual report for the year ended 30 September 2021 (continued)
Achievements and performance (continued)
2. Education, training and retraining for operatives, past operatives and young people who want to start working in the construction industry (continued)
Mowlem Award
In recognition of the £489,659 transferred to the Trust in 2013 by the RI Beck Trust – a charity set up by the construction company Mowlem – an annual award of £20,000 is given to an organisation that demonstrates achievements in training or the promotion of health and safety in construction. This reflects the importance that Mowlem placed upon it.
The 2020 Mowlem Award was granted to EN:Able Communities, the charitable arm of the not-for-profit Efficiency North organisation. It will spend the money delivering entry-level remote construction training to 121 young people and those wishing to change careers, which will be designed to comply with coronavirus restrictions. The charity works in areas with extremely high levels of youth unemployment and is also focused on encouraging more females into construction.
The head of operations at EN:Able Communities, said: “We are thrilled to receive this award. It is particularly important to us because it has been such a difficult year for social and business organisations and a couple of our funders have rescinded their contributions, meaning we have had to apply for grants such as this one.
The work is very important to the citizens of the area as youth unemployment has rocketed. Hull in particular has been cited as one of the worst areas in the country for youth unemployment. The opportunity to support people into an industry where there is a defined need for talent is a fantastic one.”
3. Education, training and research for occupational health and safety initiatives in the construction industry
The Trustees made £38,877 of awards (2020: £29,687) under this objective.
Occupational Health Research Award
In October 2016, the Trust launched the Occupational Health Research Award. The Award offers a £25,000 grant to a non-governmental research organisation whose research can make a positive difference to the health of construction workers.
This year, the award went to a joint submission from London-based charity Mates in Mind and the Institute for Employment Studies (IES) for a study to discover more about the mental health struggles of self-employed tradespeople and those working for smaller businesses in the construction industry.
The four-step plan aims to learn more about the pressures on the mental health of the estimated one million ‘hard to reach’ people either working for themselves or for small and micro businesses within the construction and manual trades sector. The proposal follows concerns that the fallout from the coronavirus pandemic will only exacerbate the pressures on those working within the industry, with the risk of suicide within this sector already being higher than the national average.
The award will help Mates In Mind and IES investigate the extent of the problem within the targeted section of the industry. They will develop a questionnaire to gauge the levels of poor mental health, carry out qualitive research with selected workers and publish a report which will summarise both the extent of the issue within the target group and how it can be tackled. The published report will be made available to the wider industry and it is also hoped that this will further support the development of at least one support tool.
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees’ annual report for the year ended 30 September 2021 (continued)
Future developments
During the next financial year ending 30 September 2022, B&CE Financial Services Limited has agreed to provide £275,000 of funds towards activities under the three Trust objectives – an increase of £75,000 over the current financial year.
The Trust remains focused on supporting the needs of the construction industry and those working within it and is continuously looking for innovative ways to improve its service delivery.
We are continually exploring ways to broaden our focus on financial assistance with the addition of more holistic support. This includes access to the free, construction worker helpline which is there to provide a listening ear and offer confidential advice, guidance and support for any issues 7 days a week, 365 days a year.
Financial review
Income from Donations and donated services at £363,882 (2020: £658,011) reduced by £294,129:
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Donations income from B&CE Financial Services Limited is in line with prior year at £200,000 (2020: £200,000)
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Donated support & governance services at £163,882 (2020: £437,191) has decreased by £273,309 reflecting a reduction in donated costs from B&CE (see below expenditure section).
Expenditure on charitable activities at £400,442 (2020: £620,626) reduced by £220,184:
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The support and governance costs of the Trust have decreased this year by £273,249 to £165,862 (2020: £439,111) reflecting a £273,309 reduction in donated support & governance costs from B&CE Holdings Limited (B&CE) which has provided support during the year to help the Trust achieve its charitable objectives. This is as a result of a review and update to the cost allocation basis which has resulted in less costs allocated to the Trust by B&CE Holdings Limited (B&CE). As these costs from B&CE are donated they are included in income from donated services. Independent examiner fees at £1,980 (2020: £1,920) have increased slightly by £60.
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Grant expenditure at £196,477 (2020: £143,178) has increased by £53,299 (see below).
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Activities undertaken directly predominantly relating to telephony costs at £38,103 (2020: £38,337) have fallen slightly.
The above has resulted in a net outflow of funds of £36,552 (2020: inflow £37,465).
Grants
The Trustees’ policy is that all payments are made at their absolute discretion. During the year, 116 (2020: 66) grants were awarded, amounting to £196,477 (2020: £143,178).
At the year-end, 4 grants (2020: 11) with a total value of £3,050 (2020: £8,240) had been approved but not paid. A provision for approved and pending payment grants has been included in the financial statements but not for grants under review.
Reserves
The Trustees have agreed a funding objective to ensure the level of unrestricted reserves is at least sufficient to meet the expected future grant payments on a rolling year basis. The unrestricted reserves position is reviewed at each Trustee meeting to ensure the funding objective is maintained. The reserves at the year-end were £72,929 (2020: £109,481) and will continue to be monitored, including ongoing discussions with B&CE regarding future funding.
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees’ annual report for the year ended 30 September 2021 (continued)
Reserves (continued)
The Trust is primarily funded by the B&CE Group who also provide all the necessary administrative resources for it to operate. B&CE provided £200,000 (2020: £200,000) of funding during the year, in addition to its donated services, and has agreed to provide additional funds if needed.
Grant making policy
The Trustees have set criteria that define who or what could be eligible for a grant (e.g., limits on disposable income, amount of savings and what documentary evidence is needed to support the case), and all cases are judged on their individual merits. Individuals suffering financial hardship should have been in employment for at least 12 months in the construction industry. This being the case, the Trustees will consider grant applications from either those individuals or their dependants.
Risk review
The Trustees carry out a periodic review of the risk register to ensure that appropriate controls are in place and remain effective.
Investments
All the Trust’s assets are held as cash, ensuring the ability to pay grants immediately.
Credit risk is the risk that a counterparty will be unable to pay amounts in full when due. The assets of the Trust are held at financial institutions which are at least investment grade credit rated.
Structure, governance and management
The Trust was constituted by a Trust Deed dated 2 October 1991 between B&CE and the Trustees. No amending supplemental deeds have been executed that affect the constitution of the Trust.
The power of appointment of Trustees is vested in B&CE who identify suitable candidates for appointment (normally a Director or officer of B&CE or its subsidiaries). The policies and procedures for the induction and training of Trustees are arranged by the Secretary to the Trustees.
Trustees
The Trustees who served during the year and up to the date of approval of the financial statements are listed on page 1. The Trustees met four times in the year to review cases of hardship and to award grants of more than £1,500. Grants of up to £1,500 are awarded by authorised B&CE staff members and subsequently ratified at the next Trustee meeting.
Pay and remuneration arrangements
None of the Trustees or key management are remunerated by the Trust. They are compensated as part of their director’s remuneration or salary from B&CE or its subsidiaries.
Affiliation
The Trust is affiliated with the B&CE group of entities that provides pension and welfare benefits across the UK.
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Trustees’ annual report for the year ended 30 September 2021 (continued)
Statement of Trustees’ responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 of the charity for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently
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observe the methods and principles in the Charities Statement of Recommended Practice (SORP)
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make judgments and estimates that are reasonable and prudent
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state whether applicable accounting standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees and signed on their behalf by:
Mr Robert John Blackman
Trustee 23 November 2021
Charity number: 1004732
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Independent examiner’s report to the Trustees of The Building and Civil Engineering Charitable Trust for the year ended 30 September 2021
I report on the accounts for the year ended 30 September 2021 which are set out on pages 10 to 16.
Respective responsibilities of the Trustees and Independent Examiner
The Trustees of the charity are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts.
Independent Examiner’s Statement
In connection with my examination, no matters have come to my attention:
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which give me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with s.130 of the 2011 Act; or
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to prepare accounts which accord with these accounting records have not been met; or
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to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
UHY Hacker Young (S.E.) Ltd
Date: November 2021 23
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Statement of financial activities for the year ended 30 September 2021
| Note Income from: Donations and donated services Investments 5 Total Expenditure on: Charitable activities 6 Total Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
2021 £ Unrestricted funds 363,882. 8. 363,890. (400,442) (400,442) (36,552) 109,481 72,929 |
2020 £ Unrestricted funds 658,011. 80. |
|---|---|---|
| 658,091. | ||
| (620,626) | ||
| (620,626) | ||
| 37,465 | ||
| 72,016. | ||
| 109,481. |
All income arises from the continuing activities of the Trust. The Trust had no other comprehensive income or losses other than those dealt with in the Statement of financial activities (SoFA).
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Balance sheet as at 30 September 2021
| Note Current assets: Debtors 8 Cash at bank and in hand Total current assets Liabilities: Creditors: amounts falling due within one year 9 Net current assets Total net assets The funds of the charity: Unrestricted funds Total charity funds |
2021 £ Unrestricted funds 16,758. 81,621. 98,379 (25,450) 72,929 72,929 72,929. 72,929. |
2020 £ Unrestricted funds 15,961. 122,704. |
|---|---|---|
| 138,665. | ||
| (29,184) | ||
| 109,481. | ||
| 109,481. | ||
| 109,481. | ||
| 109,481. |
The notes to these financial statements on pages 12 to 16 form part of the financial statements. The financial statements on pages 10 to 16 were approved by the Trustees on 23 November 2021 and signed on their behalf by:
Mr Robert John Blackman 23 November 2021 Trustee
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Notes to the financial statements for the year ended 30 September 2021
1. Basis of preparation and assessment of going concern
The individual financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’.
This departure has involved following Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Trust is exempt from the requirement to publish a cash flow statement under FRS 102 Section 7 ‘Cash flow statements’ and the Charity SORP ‘Update Bulletin 1 – Amendments to 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’ as the Trust is defined as small.
The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The Trustees do not expect COVID-19 to have a material effect on the going concern of the Charity.
2. Statement of compliance
The individual financial statements of the Trust have been prepared in accordance with ‘Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council (FRS 102) and the guidance set out in ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102’ (Charities SORP (FRS 102)) and the Charities Act 2011.
The Trust meets the definition of a public benefit entity under FRS 102.
3. Accounting policies
Income recognition
Donations and voluntary income are only included in the SoFA when the Trust has unconditional entitlement to the income and are recognised at fair value.
Deposit interest is included in the SoFA on a receivable basis.
Expenditure recognition
Grants are included in the SoFA when applications have been approved and are expected to be paid. These amounts recognised as liabilities are the best estimate of the expenditure required to settle the present obligation at the balance sheet date. Grants expected to be paid at the year-end are normally paid within the following financial year.
Activities undertaken directly are included in the SoFA when the services have been provided by the Trust for the benefit of individuals.
Support and governance costs from B&CE Holdings Limited (B&CE) consisted of accountancy, administration and office facilities and have been recognised on an accrued cost basis. As these costs are recharged back to B&CE, they are also included in Donations and donated services as income.
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Notes to the financial statements for the year ended 30 September 2021 (continued)
3. Accounting policies (continued)
Financial instruments
The Trust has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise trade and other creditors.
Debtors
Prepayments are valued at the amount prepaid net of any trade discounts due.
Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, that it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, where applicable, are shown within borrowings in current liabilities.
Reserves
The unrestricted reserves held at the year-end represent donations yet to be utilised at the Trustees’ discretion for the payment of grants. The Trustees review the adequacy of the reserves position at least annually.
Taxation
The Trust is exempt from tax on its income and capital gains under Section 505 (1) of the Income and Corporation Taxes Act 1988. Any irrecoverable VAT is charged to the SoFA or capitalised as part of the related asset, as appropriate.
4. Critical accounting judgements and estimation uncertainty
It is the opinion of the Trustees that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
5. Investment income
| vestment income | ||
|---|---|---|
| Bank deposit interest | 2021 £ 8 8 |
2020 £ 80 |
| 80 |
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Notes to the financial statements for the year ended 30 September 2021 (continued)
6. Expenditure on charitable activities
Analysis of expenditure on charitable activities
| Activity Activities undertaken directly Grant funding of activities Support and governance costs Total 2021 £ £ £ £ Relief for people in times of need, such as unemployment, poverty, sickness or distress 38,103 57,027 48,141 143,271 Education, training and retraining for operatives, past operatives and young people who want to start working in the construction industry - 100,573 84,902 185,475 Education, training and research for occupational health and safety initiatives in the construction industry - 38,877 32,819 71,696 38,103 196,477 165,862 400,442 |
Total 2020 £ 159,674 340,220 120,732 |
|---|---|
| 620,626 |
The support and governance costs are apportioned on the value of grants paid under each activity. This is because the higher the value of the grant, more time is spent on the grant evaluation.
The Trust is funded by B&CE on a rolling 12-month basis as and when funds are required to meet expected grant payments. As a result, there is no fundraising activity undertaken and, therefore, no support costs are allocated to fundraising.
Analysis of grants
Unrestricted grant payments are recognised once approved.
| Relief for people in times of need, such as unemployment, poverty, sickness or distress Education, training and retraining for operatives, past operatives and young people who want to start working in the construction industry Education, training and research for occupational health and safety initiatives in the construction industry |
Individual Institution 2021 £ £ £ 57,027 - 57,027 3,368 97,205 100,573 13,877 25,000 38,877 74,272 122,205 196,477 |
2020 £ 29,835 83,656 29,687 |
|---|---|---|
| 143,178 |
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Notes to the financial statements for the year ended 30 September 2021 (continued)
6. Expenditure on charitable activities (continued)
Analysis of support and governance costs
Support and governance costs allocated to charitable activities can be broken down as follows:
| Donated support and governance services Independent examiner’s fees (note 7) |
2021 £ 163,882 1,980 165,862 |
2020 £ 437,191 1,920 |
|---|---|---|
| 439,111 |
There are no employees of the Trust and therefore no direct employee costs. The majority of the support and governance of the Trust are services donated by B&CE. B&CE does not identify the actual cost incurred in administering the Trust. The cost is determined on a time apportionment basis across all activities of B&CE and applied to B&CE’s total overheads, including wages and salaries, to determine the cost of each activity.
7. Independent examiner’s remuneration
The independent examiner’s fee for the year, including VAT, is £1,980 (2020: £1,920). There were no other fees incurred for other services provided by the independent examiner (2020: nil).
8. Debtors
| Prepayments and accrued income | 2021 £ 16,758 16,758 |
2020 £ 15,961 |
|---|---|---|
| 15,961 |
In respect of disclosure of financial instruments, section 11 of FRS 102 has been adopted. All financial assets are receivable within one year and are therefore measured at an undiscounted amount.
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The Building and Civil Engineering Charitable Trust Annual report and financial statements for the year ended 30 September 2021
Notes to the financial statements for the year ended 30 September 2021 (continued)
9. Creditors: amounts falling due within one year
| Trade creditors Accrual for grants payable Other creditors |
2021 £ 18,282 3,050 4,118 25,450 |
2020 £ 17,412 8,240 3,532 |
|---|---|---|
| 29,184 |
In respect of disclosure of financial instruments, section 11 of FRS 102 has been adopted. All financial liabilities are payable within one year and are therefore measured at an undiscounted amount.
10. Related parties
The Trustees consider B&CE Holdings Limited and its subsidiaries to be the only related parties of the Trust. All the Trustees of the Trust are either Directors, former Directors or senior executives of B&CE and therefore are related parties.
The administration of the Trust is carried out by B&CE which bears all the costs, which totalled £163,882 (2020: £437,191) during the year, with the exception of the independent examiner’s fees and bank charges.
No remuneration or payments of any kind have been paid directly by the Trust to the Trustees in the year (2020: nil). The Trustees who are directors or executives of B&CE are remunerated by B&CE and £18,496 (2020: £20,970) has been allocated to the Trust as part of the donated governance costs.
During the year, there were no expenses paid by B&CE on behalf of the Trust (2020: £1,860).
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