The Building and Civil Engineering Charitable Trust
Annual Report and Financial Statements for the year ended 31 March 2024
Charity number: 1004732
The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Contents
Page Trustees and advisers ..................................................................................................................................... 1 Trustees’ Annual Report for the year ended 31 March 2024 .......................................................................... 2 Independent examiner’s report to the Trustees of The Building and Civil Engineering Charitable Trust for the year ended 31 March 2024 ........................................................................................................................ 8 Statement of Financial Activities for the year ended 31 March 2024 .............................................................. 9 Balance Sheet as at 31 March 2024.............................................................................................................. 10 Notes to the Financial Statements for the year ended 31 March 2024 ......................................................... 11
The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
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:
Patrick Heath-Lay Chair, and Chief Executive Officer of the People’s Partnership Group
Robert Blackman MBE
Director of PPHL
Vaughan Hart
Director of PPHL
Jeremy Swain
Director of PPHL
Stephen Terrell Director of PPHL (Resigned on 31 March 2024)
Principal address
Manor Royal Crawley West Sussex RH10 9QP
Banker
HSBC Bank plc 60 Queen Victoria Street London EC4N 4TR
Registered charity number
1004732
Contact details
Email: charitabletrust@bandce.co.uk Tel: 0300 2000 600
Solicitor
CMS Cameron McKenna Nabarro Olswang LLP Cannon Place 78 Cannon Street London EC4N 6AF
Independent examiner
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 31 March 2024
Trustees’ Annual Report for the year ended 31 March 2024
The Trustees present their Annual Report and Financial Statements of The Building and Civil Engineering Charitable Trust (“the Trust”) for the year ended 31 March 2024. During the previous period, the Trustees approved the change of the Trust’s financial year end from 30 September 2022 to 31 March 2023 to align it to that of its main sponsor, People’s Partnership Holdings Limited (“PPHL”), who along with its subsidiaries, are together referred to as the “Group”. Consequently, the comparative period’s financial information is in relation to an extended 18-month period versus 12 months for the current year ended 31 March 2024.
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 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 cost-of-living crisis has continued to have a significant impact on the number of enquiries coming into the Trust, resulting 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 during the period.
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 31 March 2024
Trustees’ Annual Report for the year ended 31 March 2024 (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 period, grants paid under this objective amounted to £62,612 (2023: £115,074). 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.
"I would like to send my appreciation for the help and The claimant who is a long-term construction worker, received a lifesupport with clearing our mortgage changing diagnosis in late 2023, which meant he had to stop work to arrears. This help is greatly undergo treatment. During this period of unemployment, their appreciated and has helped relieve mortgage payments fell behind. The Trust was able to award a grant to the stress and pressures we were help clear the arrears. dealing with. I can now concentrate on getting myself well again.”
2. Education, training and retraining for 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 £159,616 (2023: £246,305).
The Trust awarded a total of £157,286 (2023: £245,805) to 14 (2023: 21) corporate recipients for education, training and retraining including:
£15,000 awarded to the Ridge Scottish Charitable Incorporated Organisation (SCIO) which aims to provide local, effective, and personalised holistic support to the people of Dunbar and surrounding villages, helping them to move beyond dependency toward contribution and fulfilment. This organisation aims to create jobs and training opportunities for the more vulnerable members of the community. Ridge SCIO provides closely supported apprenticeships in both joinery and stonemasonry. A recent review of their process identified areas of improvement specifically around the development of work/learning readiness before the start of the apprenticeship. The funding will support a pilot programme by this organisation which will support four candidates through a one-year pre-apprenticeship employed traineeship.
The Construction Employability Award
As part of the strategic review completed in 2023, the Trustees agreed to rename the Mowlem Award to the Construction Employability Award. The annual award of £20,000 is given to a project or organisation that can demonstrate a route for the trainees or beneficiaries into employment within the construction industry.
In March 2024, the award was granted to YouthBuild Ventures UK (YBV) which primarily supports young people who are in the greatest need including care leavers and ex-offenders. This organisation works together with these young people to reclaim their education, gain construction skills and become leaders in their communities. Since their inception in 2019, YBV has been supporting young people in South London, with over 350 graduating from their programs and 82% progressing into employment within the construction sector.
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Trustees’ Annual Report for the year ended 31 March 2024 (continued)
Achievements and performance (continued)
2. Education, training and retraining for operatives and young people who want to start working in the construction industry (continued)
Construction Employability Award (continued)
This grant of £20,000 will support YBV’s Green Futures Programme. YBV plan to utilise their industry knowledge, network, and experience to create a pipeline of talent for the construction industry that has transferable trade skills and fosters a mindset to build sustainably in the green construction sector. 65 young people will be supported through the programme, in which each participant will undertake the Construction Skills Certification Scheme’s (CSCS) and Health and Safety Level 1 Award in Construction, the Level 1 Award in Energy Efficiency and Sustainability as well as the opportunity to improve their resilience and mental health, equipping them for a career within construction. The expectation is that 80% of participants will move into positive destinations within construction employment and/or further learning.
3. Education, training and research for occupational health, health initiatives and safety initiatives in the construction industry
The Trustees made £23,519 of awards (2023: £41,651) under this objective.
The applicant had worked in construction for over 40 “Thank you so much for your help, your caring and years during which time they had built up a successful sympathetic approach was very much appreciated self-employed business. Due to ongoing health and you and your colleagues have helped me no end. issues because of a motorbike accident at age 17, the The overall patience showed was terrific and I cannot applicant had to take early retirement. The Trust was thank B&CE enough for the help. “ able to award a grant which enabled the purchase of a specialist bed to support his long-term health needs.
£12,000 was awarded to SARAG (Sheffield and Rotherham Asbestos Group), a charity within the South Yorkshire region that offers support to those affected by asbestos-related diseases. The grant by contributing towards the salary of a part-time Benefits Advisor, will enable SARAG to take on additional referrals from Respiratory Consultants and nurses supporting with applications for Industrial Injuries Disablement Benefit for individuals with a benign condition. The expectation is that through the work of the additional staff member, SARAG will be able to provide support to an additional 120 individuals.
Future developments
During the next financial year ending 31 March 2025, the Group has agreed to provide £250,000 of funds towards activities under the Trust’s 3 objectives. This funding is earmarked for grant allocation only - operational expenses such as telephony costs are funded separately by the Group.
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.
The strategy for corporate funding for education, training and retraining grants has been refocused for 2024/25 and sees the Trust reducing the number of funded organisations with the desire to have an increased level of involvement within proposed programmes. The Construction Employability Award will act as a pipeline for these pre-determined organisations in future years.
In 2024/25 the Trust is due to receive £73,614 from Interserve Training Trustees Limited. This grant is to be held in a segregated account as restricted funds, for the purpose of paying grants relating to education, training and retraining operatives and young persons.
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Trustees’ Annual Report for the year ended 31 March 2024 (continued)
Financial review
These Financial Statements present the financial performance of the Trust over a 12-month period versus an extended period of 18 months in the prior report, and therefore comparatives are not on a like-for-like basis.
Income from donations and donated services at £392,907 (2023: £623,635) is detailed below:
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Donated income from the Group at £291,750 (2023: £473,506) is in line with planned donations.
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Donated support and governance services at £100,086 (2023: £150,129).
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Other Income at £1,071 (2023: Nil.) - this relates to additional funds donated from the Group in respect of surplus funds from B&CE Contracted Out Pension Scheme, a product that is no longer offered by the Group.
Expenditure on charitable activities at £393,750 (2023: £618,400) is detailed below:
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Grant expenditure of £245,747 (2023: £403,030).
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The support and governance costs of the Trust are £102,226 (2023: £152,389) and include Independent examiner fees of £2,100 (2023: £2,220).
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Activities undertaken directly predominantly relate to telephony costs at £45,777 (2023: £62,981).
The above has resulted in a net inflow of funds of £99 (2023: inflow £5,430).
Grants
The Trustees’ policy is that all payments are made at their absolute discretion. During the period, 111 (2023: 170) grants were awarded, amounting to £245,747 (2023: £403,030).
At the year-end, 2 grants (2023: 1) with a total value of £2,000 (2023: £881) 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 £78,458 (2023: £78,359) and will continue to be monitored, including ongoing discussions with the Group regarding future funding.
The Trust is funded by the Group who also provide all the necessary administrative resources for it to operate. The Group provided £291,750 (2023: £473,506) of funding during the period, in addition to its donated services.
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Trustees’ Annual Report for the year ended 31 March 2024 (continued)
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.
The Trust is exposed to credit risk, which is the risk that a counterparty will be unable to pay amounts in full when due. This risk is managed by holding the assets of the Trust with financial institutions which are at least investment grade credit rated.
Investments
All the Trust’s assets are held as cash, ensuring the ability to pay grants immediately.
Structure, governance and management
Trustees
The Trustees who served during the period and up to the date of approval of the Financial Statements are listed on page 1. The Trustees met 5 times in the period to review cases of hardship and to award grants. The Trustees have appropriate controls in place to review and approve payments working closely with Group executives.
Pay and remuneration arrangements
None of the Trustees or key management are remunerated by the Trust.
Affiliation
The Trust is affiliated with the PPHL 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 31 March 2024
Trustees’ Annual Report for the year ended 31 March 2024 (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 year.
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:
_____ Trustee and Chair Patrick Heath-Lay 16 September 2024 Charity number: 1004732
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Independent examiner’s report to the Trustees of The Building and Civil Engineering Charitable Trust for the year ended 31 March 2024
I report on the Financial Statements for the year ended 31 March 2024 which are set out on pages 9 to 16.
Respective responsibilities of the Trustees and Independent Examiner
The Trustees of the charity are responsible for the preparation of the Financial Statements. They consider that an audit is not required for this period 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 WH?wet
Date: 16 September 2024
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Statement of Financial Activities for the year ended 31 March 2024
| 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 |
Year ended 31 March 2024 £ Unrestricted funds 392,907 942 393,849 (393,750) (393,750) 99 78,359 78,458 |
18-month period ended 31 March 2023 £ Unrestricted funds 623,635 195 |
|---|---|---|
| 623,830 | ||
| (618,400) | ||
| (618,400) | ||
| 5,430 | ||
| 72,929 | ||
| 78,359 |
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 31 March 2024
Balance Sheet as at 31 March 2024
| 31 March | |||
|---|---|---|---|
| 31 Mar 2024 | 2023 | ||
| Note | £ | £ | |
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| Current assets: | |||
| Debtors | 8 | 9,785 | 42,141 |
| Cash at bank and in hand | 77,735 | 41,519 | |
| Total current assets | 87,520 | 83,660 | |
| Liabilities: | |||
| Creditors: amounts falling due within one year | 9 | (9,062) | (5,301) |
| Net current assets | 78,458 | 78,359 | |
| Total net assets | 78,458 | 78,359 | |
| The funds of the charity: | |||
| Unrestricted funds | 78,458 | 78,359 | |
| Total charity funds | 78,458 | 78,359 |
The notes to these Financial Statements on pages 11 to 16 form part of the Financial Statements. The Financial Statements on pages 9 to 16 were approved by the Trustees on 16 September 2024 and signed on their behalf by:
Trustee and Chair
Patrick Heath-Lay
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Notes to the Financial Statements for the year ended 31 March 2024
1. Basis of preparation and assessment of going concern
The 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.
2. Statement of compliance
The 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 Statement of Financial Activities (“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.
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Notes to the Financial Statements for the year ended 31 March 2024 (continued)
3. Accounting policies (continued)
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 period-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 PPHL consisted of accountancy, administration and office facilities and have been recognised on an accrued cost basis. As these costs are recharged back to PPHL, they are also included in Donations and donated services as income.
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. Bank overdrafts, where applicable, are shown within borrowings in current liabilities.
Reserves
The unrestricted reserves held at the yearend 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.
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Notes to the Financial Statements for the year ended 31 March 2024 (continued)
3. Accounting policies (continued)
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
| 5. | Investment income | ||||||
|---|---|---|---|---|---|---|---|
| Year ended | 18-month | ||||||
| 31 March | period ended | ||||||
| 2024 | 31 Mar | 2023 | |||||
| £ | £ | ||||||
| Bank deposit interest | 942 | 195 | |||||
| 6. | Expenditure on charitable activities | ||||||
| Analysis of expenditure on charitable activities | |||||||
| Year | |||||||
| Activities | Grant | Support and |
ended | 18-month | |||
| Activity | undertaken | funding of | governance |
31 | period ended | ||
| directly | activities | costs |
March | 31 Mar 2023 | |||
| 2024 | |||||||
| £ | £ | £ |
£ | £ | |||
| Relief for people in times of | |||||||
| need, such as unemployment, | 45,777 | 62,612 | 26,045 |
134,434 | 221,565 | ||
| poverty, sickness or distress | |||||||
| Education, training and retraining for | |||||||
| operatives and young people who want to start working in the construction |
- | 159,616 | 66,398 |
226,014 | 339,435 | ||
| industry | |||||||
| Education, training and | |||||||
| research for occupational | |||||||
| health initiatives and safety | - | 23,519 | 9,783 |
33,302 | 57,400 | ||
| initiatives in the construction | |||||||
| industry | |||||||
| 45,777 | 245,747 | 102,226 |
393,750 | 618,400 |
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Notes to the Financial Statements for the year ended 31 March 2024 (continued)
6. Expenditure on charitable activities (continued)
The support and governance costs are apportioned based 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 the PPHL Group 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 and young people who want to start working in the construction industry Education, training and research for occupational health initiatives and safety initiatives in the construction industry |
Individual Institution Year ended 31 March 2024 £ £ £ 62,612 - 62,612 2,330 157,286 159,616 11,519 12,000 23,519 76,461 169,286 245,747 |
18-month period ended 31 Mar 2023 £ 115,074 246,305 41,651 |
|---|---|---|
| 403,030 |
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The Building and Civil Engineering Charitable Trust Annual report and Financial Statements for the year ended 31 March 2024
Notes to the Financial Statements for the year ended 31 March 2024 (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) Bank charges |
Year ended 31 March 2024 £ 100,086 2,100 40 102,226 |
18-month period ended 31 March 2023 £ 150,129 2,220 40 |
|---|---|---|
| 152,389 |
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 PPHL. PPHL does not identify the actual cost incurred in administering the Trust. The cost is determined on a time apportionment basis across all activities of PPHL and applied to PPHL’s total overheads, including wages and salaries, to determine the cost of each activity undertaken in relation to the Trust.
7. Independent examiner’s remuneration
The independent examiner’s fee for the year, including VAT, is £2,100 (2023: £2,220). There were no other fees incurred for other services provided by the independent examiner (2023: nil).
8. Debtors
| Prepayments and Accrued Income | 31 March 2024 £ 9,785 9,785 |
31 March 2023 £ 42,141 |
|---|---|---|
| 42,141 |
In respect of disclosure of financial instruments, section 11 of FRS 102 has been adopted. All financial assets, measured at amortised cost and 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 31 March 2024
Notes to the Financial Statements for the year ended 31 March 2024 (continued)
9. Creditors: amounts falling due within one year
| Trade creditors Accrual for grants payable Expense accruals |
31 March 2024 £ 3,000 2,000 4,062 9,062 |
31 March 2023 £ 238 881 4,182 |
|---|---|---|
| 5,301 |
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 PPHL 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 PPHL and therefore are related parties.
The administration of the Trust is carried out by PPHL which bears all the costs. The approximate cost totalled £100,086 for the current year (2023: £150,129), excluding the independent examiner’s fees and bank charges (see note 6).
No remuneration or payments of any kind have been paid directly by the Trust to the Trustees for the year (2023: nil).
The administration and remuneration costs noted above have been allocated to the Trust as part of the donated governance costs from PPHL as disclosed in note 6 with a matching amount included in income for the year.
During the period, there were no expenses paid by PPHL on behalf of the Trust (2023: nil).
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