the Charlty Service The Charity Service Limited Report of the Trustees and Audited financial Sialements for the year ended 31 March 2024 Registered Company Number (EnglAnd and Wales): 02538910 Registered Charity Number: 1011293 Ashby Berry Coulsons Chartered Accounlanls Scarborough
The Charity Service Limited Contents of the Finxneixl Statements for the year ended 31 Illarch 2024 Pllge Reference and adminislraiive details Repon of the Trustees 2to8 Report of the indcpendenl auditors 91011 Statement of finattcial aciiviiies 12 Balance Sheet 13 Cash flow statement 14 Notes to the financial 5ta1ement5 15to25
The Charity Service Limited Reference and Administrative Details for the year ended 31 March 2024 Trustees R G Dyson (Chair) P A Chorlton J s r.ck-erslcy K A Graham S Griffiths J Kiely D E Newn5 M S Ralph K J Wcbslcr P R Smith E Woiherspoon (resigned 9th November 2023) (resigned 22nd August 2024) (appointed 12th March 2024) (aptK)inted 22nd August 2024) Company secrctary C D Mills A Sheehan (resigned 30th April 2024) (appoinled Joth April 2024) Address Jactin House 24 Hood Street Ancoats Manchester M4 6WX Re2istered company number 025)8910 (England and Wales) Re%istered eharity number 101129J Auditors Ashby Berry Coulsons l.imited Statutory Audilor 2 Belgrave Crescent Scarborough North Yorkshire YOI I IUB Bankers Unity Trusl Bank Nine Brindleyplace Birn]ingham BI 2HB nve5tment advisers Castlefield Investment Partners LLP I I I Piccadilly Manchester MI 2HY Page I
The Charity Service Limited Report of the Trustees For the year ended 31st March 2024 Thc Tr1151c¢s, who are al.so directors of thc charity for the purposcs of thc Companics Act 2006. are pleased to prescnt their annual dircctor5' rcport together with the financial statements of the charity for Ihc ycar cndcd 31 March 2024. 1-he financial stat¢ments have been prcparcd in accordance with the accounting policics sct out in notes to the acLounts ar]d comply with thc cliarity's governing docum¢nt. Ihc Charities Act 2011 and Accounting and Rcporiing by Charities.. Statemcnt of Rccommendcd PractiCL' applicable to chdritics preparing thcir accounts in accordance wilh ihe Finaiicial Rcporting Standard applicable in thc UK and Republic of Ireland (FRS 102) issucd in October 2019. This report has been prepared to meet the requirements for a directors, rcport required by company law and has been prepared in accordance with the special provlsions ofpart 15 ofthe Companies Act 2006 relating io small companies. Strueture* Eovernanee and management Thc Charity Service Ltmited is a charitable company limited by guarantee. The charity is governed by its Mcmorandiim and Articles of Association. It is also a Trust Corporation within the meaning of Section 68(18) of the Trustee Act 1925. Thc Board of Trustees has legal responsibility for the effcctivc usc of rcsources in mecting thc charity's objccts and providing effectivc Icadership and direclion. The Trustees meet quarterly and additionally as circumstances require. The Board is committed to maintaining, high siandards in governance and rcgularly assesses compliancc against ihc Charity Governance Codc for Smaller Charities. All Trustee5 give their timc frccly. No Trustee has received any remuneration in eith¢r ihis or thc preceding year. Trustces are rcquircd to disclose all relevant intere51s and withdraw from decisions wh¢re a conflict of interest may arisc. Responsibility for operational matters and the implementation of policy is delegated to the Company Secretary. Trustees arc committed to creating a diverse board. Recruitment of new trustees is done openly. Ivhen a trustee vacancy arises, the role is advcrtiscd. Trustccs encourage applications from all individuals rcgardlcss of age, gender, sexual oricntalion. disability, race, religion or bclicf. The Trustees work with the Company S¢cretary to select, inlervicw and appoint suitable candidates. The board makes appointmcnt5 according to relevant ski115, COmPL%tcncies and experience, whilst also seeking to broaden trustee diversity- All new trustecs receive an induction into the work of the chariiy. All Trustees, their families and business partners ar¢ related parties by definition. Any detai15 of transactions with related parties are disclosed in the financial statements. The Truslee5 would lik¢ to thank Chris Mills for his contribution, as Head of Philanthropy Services. to the dcvclopment of The Charity Service over the last thrce year5 and wish him well in his new role. The Trustecs would like to welcome Rachel Tomlins. Head of Philanthropy, and Anne Sh¢¢han, Finance and Operations imanger. to The Charity Service. Corporate trusteeship and funds held as trustee Thc Charity Service Limitcd acts as sole corporate Irustee of three separate charitable trusts. Details of these charitablc trusts are provided in Note 21. The accounts of these charttable trusts are rcported separately. In its capacity as a ¢orporate trustee, The Charity Service Limited holds investments on behalf of three haritable trusts. The investment assets for each trust are hcld in a separate portfolio.
The Charity Service Limited Report of the Truslee5 For the year ended 31$¢ March 2024 Objectives and activities for the public benefit A5 detcrmined by its Memorandum of Association, the principal objoct5 of the charity arc 'lo b¢iiefit any charitable institutions or chai'itablc purposes wlieresoever thc same shall be established by provision of advice and as5iStance'. The charity fulfils it% objects in two main ways. Firstly, we providc a scrvice to major donors who wish to manage their long-tenn charitable giving with a simple and c051-effcclive fund. We refer to ihese funds as 'donor advised fund5, becausc we manage them on behalf of donors and make grants according to their wishe5 (providing that we have carried out all necessary due diligence checks and vcrified that the grants will be used for charitable purposes). Secondly, we continue to manage various designated. rcstrictcd and charitable trust funds from which we makc small grant5 to charitics and community groups within the Greater Manchester area. Wc rLfcr to thcsc funds as 'internally advised lunds, because decisions on wlicthci. or not to award a grant are made by Grant Committee coinprised cntircly of the charity's trustees. We opcratc an open grant application process for these funds. The charity does not raise funds from the general public. In setting our objectives and planning our activities. the Trustccs have given careful considcration to the Charity Commtssion s general guidance on public benefit and io the obligations placcd upon u5 by Section 17 of thc Charities Act 2011 and confirm that we have complicd with the duty placcd on us by this A¢t. Achievements 2nd performance Our strategic goal is lo promot¢ philanthropy and cinpowLr impactful charitablL giving. We do this by Inanaging donor advised funds, which enable philanthropists to make large onc-off donations to The Charity Service and ihen use th¢se funds to support long-lerm charitable giving. During the year ended 31 March 2024, the charity managed 16 Separate futtds, consisting of twelve donor adviscd fund5 2nd four intcrnally advised funds. '[ wclvc of ihese funds wcre opcratcd as reslricled funds of The Charity Service. one as a designaled fund and three as separate charitable trusts. The details of the separate charitable trusls, of which The Charity Service is the sole trustee. are provided in Note 21 to the accounts. Thc philanthropy advice service introduccd in 2022123 allows us to draw on our cxpurti5c in philanthropic strategy and grant-making to offer enhanced levels support lo philanthropists, thereby helping them to achieve greater impact ihrough ihcir charitable giving. Page 3
The Charity Service Limited Report of the Trustees For the year ended 315t March 2024 'rhe Charity Service supports a wide variety of charitable causes through it5 internally advised and donor advised funds, and the charitable trusts of which it is a corporate trustcc. In the year ended 31 March 2024, across all ihLsc funds and Irusts, IhL' cliai'ity made 147 grant5 (?023.. 131) with a total value of £1.5m (2023.. £1.4ni). 'I'he Charitable CilUSCS 5UPPOrted by these grants are suiiiinariscd in the pie chart below. Charitable Causes Supported in 2023124 205830.25 59523.67 15rJx(J 194399 293953.75 253154 Health Social Welfare Charitable Arttvitles Reli8lon Savin8 Lives • Other Financial review The financial outcome for the year and its impact on the charity's funds are set oul in the stalernent of financial aclivities on page 12. Total net expenditure for the year was £1,695,786 (2023: (£397.655)). Increased donations led lo a higher total income of £3,337,312 (2023- £1,J85,98i), which was achieved on the back of TllTnitnal fund fundraising expenditure of £15.681 (2023:£9,966). Granl-making aclivity increased to £1,47J,953 {2023: £1,394,785), philanthropy advice and support increased slightly to £6J,412 (2023- £63,502). I'otal expendilure in the year w&$ £1,553.047 (202) £1,468,253). Although losses on investments amounled to £88,479 (202J- losses £315,385), investment funds are held for ihe long-tenn and are expected to recover their value over a full economic cycle. As at 31 March 2024, total net assets amounted 10 £6,370,343 (202J- £4,674,555). comprising unrestricted funds of £174,775 (2023: £231,686) and restricted funds of £6,195,568 (2023:£4,442,869). Of the unrestricted funds, £118,657 (2023- £161,601) have been set &side and de5ignaled for grant-making, leaving £56.048 (2023: £70,085) in the unrestricted general fund.
The Charity Service Limited Report of the Trnstees For the year ended 31st March 2024 Investment poliev and performanee Under its Metnoranduin of Association, .the charitj has the Wer to invesi fund8 not immediately required for charilable piirposes. The charity's inTr'estments are managed with the objcclive of generating the best financial return within an accepiable level of risk. For funds witl) a long-lemi invc%tmeni horiz()ii of more Ihan 5 vears. thc investment oF)jL'ctive is to generat¢ a return of at Icasl inllalion (as measured bv the Consumer Prices Index) plus 40/0 per annum after expenses. For funds with a mcdiiim-tenn horiLon of between 3 and 5 years. thc investment objective is lo aencratc a return in excess of inflalion (as measured by the Consumer Prices Index) after expenses. In the absence of an). slf1¢ legal restriclion in respeth of spending capital or gains. the charity. generdllJ adopts a total return approach to investin& which means relurns can be gcnerated from income and capital gains or losses. charity Pursues an eihical approach to invesling io en5 that its investments do not conflicl with its charitable aims and ethos. and the values ot" its donors and bcneficiaries. The charity requires its inTrestment manager to utilise negati.¢ screening to avoid investments in companies that derive more than l /• of their VenUe or operating profit from: the manufacture and distribution of weawns and Weapon sN'stems: the exlraction. proccssino and production of carbon emittino fossil fuels: breedin rearing or Irapping of animals t.or fur and the retailing of fur prU¢t$. animal testing for cosmetic purposes: gablIng. the produclion. distribution and rclailing of pornograph)'- the manufacture of tobacco and tobacco-relatcd PrlUcts. and. Lonsunier credil oftering excLssi¥'¢l)' liigh iiilcrest rale loans. The charity also encourages (but d(K.% not rcquire) ils inveslmenl manager to use pisitive screening to make investrnents that promote healih and wellbein& education and environmental sustainability. Ini.'estmenl% aTe placed '11h Castlefield Investment Partners LLP M,ho specialise in ethical investmenl. The Trustees monitor iniesttnent perfomiancL on a quarterlN' basis b). comparing iotal returns to an indendentY calculated nchmark comprising? thc investmcnt w)rtfolios of other charities with similar investment objectii'es and risk profiles. The Trustees are satisfied that adopting an ethical appmach will nol IK detrimental to long-terffi financial retums. Indeed. it is thc Trustees lIef that so¢iall)' and environmentallv resnsIble business practices will generate superior financial performance over ihe long-lemi. Reserves policy Charity reserves are funds thal can be freely and readil), spent on charitable purSes. I'hey typically comprise unrestricted funds but exclude fixed assets and funds destgnated for specific purwses. The charity aims Éo hold reserves at a level that manages financial risk and short-terni volatility and ensures that financial commitmenls can be mel as ihel fall due. Our reserves )I1¢Y takes into account our 3-year f117ancial plan and risk regtster. It also considers the risk of a significant unexpected fall in incomL'. thL risk of unforeseen and unavoidable expendilure. access to other sources of finance and ihe cost of meeting financial obligations if the charit). is ivound up. ()n this basis. Ihc trustees assess that th¢ charit%. requires reserves equiNalent to at least 9 moi)ths of budbyetcd ujirestricted expendilure, but not more tlian l? months. As at 31 March ?0?4: the level of reserves held by ihe charit). was £69.337 (?0?3: £69:858). which represents approximatel!. I I months (?0?3: 1 I months) of budgeted unrestricted fund expenditure for the ncit l'ear. Truslees Lonstder this level of reserves to be adequale because li falls w'ithin the pardmaters of the charity's resen'es policy. Page 5
The Charity Serviee Limited Report of the Trustees For Ihe year ended 31st Mareh 2024 Grnnt-makiDg policy Granls are managed according to )licIeS agreed by the trustees. One of two approaches is use depending on whether ihc funds are donor advised or inlernally advised funds. Donor Advised Fund3 For donor advised funds. grdnts are paid to recipients notninated by the donors. In some case& the charity provides &ssistance to help don0 develop grant making strdlegy and select charities to supporL Due dili&>ence checks are perfornied on all grant requests to ensure funds are distribuled in accordance with eligible charitsble purposes. InlernallyA(h7i5ed Funds For internally advised funds: the charity operates an open grant application process. Grants are paid to recipient5 selected by a Grants Committee made up of the charitN s truslecs. 1.hese grants are made in accordance with leVant fund restrIl0n5. The funds share a Common focus on helping dlsadvantaged Iple in the Greater Manchester area. Key priority areas include: preventing homelessness, reducing social isolation and the provision of sUPPOrt for vulnernble families & chtldren. Grants are available lo support aclivity, and Projecl cost& capitsl costs an(Uor organisalional COTe costs. "fhis includes unrestricted and multi-vear grants up to a maximum of i years. The maximum amount of grant for an), one year is usually £3.(KKI. We nornially focus our support on organisattons that are working w'ithin one of our priority areas and: are emtdded within the local communit)" encourdge community participation: involve volunteers: have been regislered or active for a pertixl of least 3 year& have a Irack record of deli%'erv' and. have an annual e.xpenditure of no more than £lm. The Trustees will not nornially fund any of the following: Activities that have already taken plac¢. R¢lig¥ous actlvlty which is not for wider public benefiL stsffing costs primaril>' associaied with fundraising. Most of our granls are to charilie8 although we w'ill consider applications from Commiinity interest Companies {CICs) bul with greater scrutinj, (e.g. Ive check closel) for social purpose objective& asset l(Kk. go%'ernanc¢ arrangements. etc). All grants awarded are made at the absolute discretion of lh¢ Trustees. Risk management 11)e Trustees continue lo rei'iew the charity's activities to identify the major risk exposuTe and to maintain the systems lo mitigate these risks. Management controls also rcviewed to ensure they are operating effectively and meeting the needs ofthe charity. The principal risks identifjed by Trustees are: a) lIanCe on key staff and b) a failure to grow earned income over the next five y5. The steps takcn bj. the Trustees io miligate these risks as far as prdCtiLable are: a) th¢ documentation of kL"y Systems. agrccd recniitmeiit proLesses. job descriptions. regular employee reN'iew's and notice riodS lor all slaff: and. b) Ihe impleinentalion of a m4k¢I1g strategy to grow the number ot- donor advised funds under managyement. Page 6
The Charity Service Limited Report of tbe Trustees For the year ended 3151 Mareh 2024 Pllln5 for the future -hc -1 rustees have agreed thc followin&1 strdlLgic aims to guidL IIIL charity's work in the threc year period of 2024-2027 which adopts a LTrowtli stralLgy dLsignLd to incrLdSL phi lanthi'opic funds under iiiana&ieincnt and achicvc long-terin stability= Creale a more dislinctive orgianisational identity. which conveys a stronger 5en5c of value5 and ihe type of philanthropy we wish io see. Invest in its marketing capability to achieve a greater presence in the donor-advised fjnd marketplace and incrcasc the value of funds under management. Build organi5ational capacity Thc year ending 31 March 2025 will bc thc first year of this strategie planning period. T'hi5 year will see incrL'u5L'd dLtivity to market the charity's philanthropy service5 and grow the nutnber of donor advised fund5 under management. S¢a¢ement of Trustees. responsibilities The I'rustecs (who are also the directors of The Charity Service for the purposcs of company law) are rcsponsible for preparing ihc rcport of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the TrustL'lS to prepare financial 8talLments for each financial year. Under company law the trustees tnust not approve tlie financial slateinL'nls unless they are satisfied tliat Ihcy gFive a truc and fair view of thc 51atL of affairs of the cliaritablc compdlly and of the incon]ing resources and application of re50urce5, including the income and expenditure. of th¢ charitable company for that period. In preparing those financial statements. the Trustee5 are required to select suitable accounting policies and then apply them consistently; bbserve thc methods and principles in thc Charity SORP 2019 (FRS102}" make judgemcnls and c51imales that are reasonablc and prudent. statc whcthLr applicable UK Accounting Standdrd5 have been followed, subject to any material departurcs disclosed and explained in the finaT]Ci<il statements- and, prcpare the findllLi81 statements on the going con¢¢m basis unless it is inappropriate to presume that the charitablc Coiiipany will continue in opcration. The Irustees are responsible for keeping adequate accounting records that disclose with rcasonable accuracy at any time the financial posltion of the charitable coinpany and LnablL thLm lo ensure that ihe financial statements comply with the Companies Act 2006. They are also responsiblc for safeguarding the assets of the charilable company and hence for taking reasonablc steps for the prevention and detection of fraud and other irregularities. In so far as the Trustecs are aware: there is no rclevant audit infonnation of which the charitable company's auditor 15 unaware. and. thc 'lruslL'CS IIiivL. taken all steps that they ougTht to have taken to inakc theinsclves aware of any relcvant audit information and to establish that thL' auditors are aware of that inforination. Page 7
The Charity Service Limited Report of the Trustees For the year ended 31st March 2024 Auditors During ihe year, the Trustees put out to tender the audit of the charity, rcceiving proposals from three firm5. 'fhese were assessed by Trustees and a decision was made to reappoint A.%hby Bcrry Coulsons Limited as auditors. Asliby Berry Coulsons Limited is deemed to be re-appointed under section 487(2) of the Coinpanies Act 2006. This report has bcen prcpared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. TCS is still a small company although now a larger charity. Signed on behalf of the Trustees on 14 November 2024. A Sheehan Company Secretary Pagc 8
Independen¢ Auditor's Report to the Members of The Charit). Service Limilcd Opinion WL liai'e audited ihe financial staiemenls of The Charity Servi¢e Limiied (thc 'charilable company'l for ihe year ended 31 March 2024 M,hich comprise the statement of l-. inancial A¢liviti¢s, th¢ Biilance Sheei, the Cash Fli)w StatLment and notes to the finanLial statemenis. including signifi¢ant a¢¢ounLinL poIiLies. The financial reporting framLWI)rk that has been appliLd in tIiLir prLparation is applicable lai¥ and lJnited Kingdom Accouniing Standdrds. inLluding l.inancial Rcporting Standard 102 1IRe findnLidl RLJPOI'lii?&'.Siandui.dappliGable in ihg UA Jec'publlc of Ireland (United Kii)gdom Generally ALLepied Accounting l)raLtIL¢). In our opinion ihc financial sia¢cmcnts- give a truc and fair view, of the state of the charitable company's affairs as at 31 March 2024. and of its incoming rc50urccs and application ofresources. including ils income and expendiiure. for ihL year then havc bccn propcrly prepared in accordance wilh United Kingdom Generally Accepted Accouniing Praclicc- and have bccn prcparcd in accordance with the requirements of the Companies Act 2006. Basi5 for opinion WL LoiiduLt¢d our audit in a¢¢ordan¢e 'ith Intcrnational Siandurds on Auditing (UK) (18As (IJKI) and applicabl¢ law. Our responsibilities under those stsndards are further described in the Auditor s responsibilities for th¢ dudit of the financial stalcmcnts scction of our report. Wc arc indcpendent of the charitablc company in accordancc ivith thL ethical quErCm¢nts ihat are rclcvanl to our audit of the financial statements in thc UK, including thc FRC'S F.Ihical Standar(t and li'e have fulfill¢d our oih¢r ¢thical r¢5ponsibililics in accordance ivith ihese r¢quir¢ments. We b¢li¢vc that ihe audit evidence we have obtained i5 S1¢1¢nI and appropriatc to provide a basis for our opinion. Conclusions relating to going concern In liudiling the financial st<lt¢in¢ntS, WL have concluded that th¢ irvste¢s' use of the going con¢¢m basis of acLounling in the preparation ol. the financial siatements is appropriate. Based on the work we have pcrfomied, ive have nol identifiLd any material uncertaintics relating to cvcnts or Londitions ihdt, individually or ¢olleL(ively, may cast significant doub¢ on the charitable company's ability to coniinue as a going concern for a period of at least ti¥elve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustces with respect to going concern aTe described in the relevant sections of this rcport. Other information 'I'lic othLr iiilorination comprises the infortnation includ¢d in the (rustee5' annual reporl, oiher than the finan¢idl statements and our audilor s rL'pori ihcrcon. The trustees arc rLspunsiblc for thc othcr infurmalion cuntained witliin the annual report. Our opiniun on Ihe financial statcmcnts doLS not cover the other information and. except to the cxtcnt othcrn4'is¢ cxplicitly slaled in our rcport. M'c do not express any form of assurancc conLlusion thcrcon. Our responsibilili, is to read the other information and, in doing so, consider i%,hcther ihc othcr inloriiiatioii is materially inconsislcnt ii'iih the financial statcmcnls or our knO.1¢dgc obtaincd in the course of thc audii or othcnvisc appears lo bc matcrially misstaled. I five identify. such matcrial inconsistencies or apparent matcrial misstatemcnls. wc arc rcquld to detertnine iYheihLr this giv¢s ri5¢ to a matcrial mi5Statcmcnt in the financial 5tat¢mcnts ihcm5clvcs. If, based on the M'ork we hai'¢ p¢rforMe M'e conclude ihai thcrL' is a matcrial misstaiemeni ofthis other infomation. we are required to report thal faci. We have nothing io report in this rcgard.
Independent Auditor's Report to the Members of The Charity Sen'ice Limited Opinion5 on other matters prescribed by the Companies Act 2006 In our opinion, based un the work undertaken in the COLirse of the audit.. the information gjiven in the trustees, report (incorporating the directors. report) for the financial yevdr for Ivhich the financial slalcments are pr¢p&red is consistent i¥'ith the financial slalemenls. and the directors. report has been prepared in ac¢ordan¢e with applicable legal requirements. Matters on which we Mre rcquired to report by exception In the light of ih¢ knoi%.Icd&)c and underslandingT ofthe chdrilable company and ils environmcnl obtained in the course of the audit. we have not identified malerial misslalemenls in the directors, report. We have nothing to repofl in respect of the folloiving matters in relation lo which the Companies Act 2006 requires us to repori to you if. in our opinion= adequate accounling records have not been kepL or relurns adequate for our audit have not been reccived from branches not visited by us- or the financial slalcmenls are not in agreement ii'iih the accounting records and relurns. or certain disclosure5 of directors remuneration specified b), lai%. are not made- or Ive have not received all thc information and explanalions i%"e require for our audit. or the Irustees were nol entitled to prepare the financial statements in accordance with the small companies regime and lak-e advantage of the small companies. exemplions in preparing the directors, report and from Ihe requirement lo prepare a strdtegic report. Responsibilities of trustees As explained more fully in the trustecs, rcsponsibilities slalement set out on page 7. the trustees {Ivho are also the direciors of the charitablc company for the purposes of Company lai%') are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal Control as the truslees determine is neccssary to enable the preparation of financial slal¢menls Ihal are free from material misslalemenl, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing. as applicable, maltcrs rclaled to going concern and using the going concern basis of accounting unle55 the trustces cither intcnd lo liquidate the charitable company or to cease operations, or have no realistit alternative but to do so. Auditor's respDll5ibilities for the audit of the flnancial statements Our objeclives are to obtain rea50nablc a55urancc about i%,heiher the financial statements as a iihole are free frnm malerial misstatemenL i%hether due to fraud or error, and to issue an auditor'5 report that includes our opinion. Reasonable assurance is a high lel'el of assurance. bul is not a guarantee that an audil conducted in accordancc ivith ISAS (UK) Ivill alii'ays detect a malerial misstatement i%'hen il exisls. Misstalements can arise from fraud or crror and are considered material if, indii'iduall)" or in the aggregate. they could reasonabl). be expected to influence thc economic decision5 of usets tak-en on the basi5 of these financial statements. Irregularilie5. including fraud. are instances of non-compliance ivith laiys and regulations. We design procedures in line i%'ith our responsibilities. outlined above, to deleci material misslatemenls in resp¢¢t of irregularities, including fraud. The extent to Ivhich our proccdures arc capable of delecting irrcgularilies, including fraud is detailed beloi¥'. Our audit proccdures include: l)erforming audit 14ork over the risk of management override of controls, including revieiying accounting estimates for bias and testing journal entries and other adjuslnien15 for appropriateness; RLvi¢ivingJ miniiles of meetings of ihose chl£ rged ivitli g?overndnce,' Rei'ieii ing financial statement disclosures lo assess compliance ii'iih applicable law's and regulations Enquiry of management and those charged iyiih govemance concerning potential litigation and claim5. Page 10
Independent Auditor's Report to the Members of l-he Charity Sen'ice Limited WL ¢onsider Ihai these procedures, iogeihcr i%'iih ci.-id¢ncc acquircd Irom uur othcr audit i%"orL provide an audit approach cnabling a rcasonablc lik-elihnod nf dLtcction ol- irregularilics. BccausL L)I' thL inlierent limitations of an audit. IhLre is a risk ihut M'¢ i1.ill not de(eLt ¥tll irrLLiulori¢iLs. including those leadi¥Jg l() a mat¢rial Inisstatcment in ihc financial s¢atement£ or nuii-Lompliance i*ith reguliilion. -I'hi.% risk incrcascs th¢ niorc that conipliancc ii'i¢h a laiTr or r¢gul(Itiun is rL'moved from tIIL LVLnts and transactions rLtleLILd in the financial statement5. ivill be less likely to beLom¢ aivarc ol instanLLs uf n(In-compliance. The risk 15 a150 gr¢atcr r¢garding irregiilarillLS nLcurring duc io fraud rather (han crror, a traud involves intentional concealment, lorgcry. collusion, omission ur mi%rLprc5cntation. A further description of our responsibiliti¢S 15 available on th¢ l.inan¢ial Reporting Council's wcbsilc at.. .uLIOur-111()rk/AudiUAudit-and-assurancclStandards-and- uidancclStandards-and- uidancL..for- audil()r%lAudilors-rLS nsibililiL%-Ic)r-audiilDLscri tion-of-auditors-rL"S nsibilitiLS-for-audit.as Tliis dLsLription fornis part of our audiior s reporL We communicate iyith those charged wilh govvrnance regarding. among oth¢r maiters, the planned scopL' and liming ol the <iudit significant audit findings, in¢luding any significani deficiencies in inlcmal control that we idcntify during our audil. Lse of our report 'I'his rLPOrt is madc solel}, to the charilable company's mcmbLrs, as a body. in accordance ii'itli CliaptLr 3 of Part 16 01 the Companies Act 2006. Our audit iiork been undertak-en so tliat IVL mighi state to ihe charitablc company 5 member Ihos¢ maiters li'e are required to slat¢ to (hettE in an auditor s report and lor no other purpose. l o ¢hL fu11¢51 e%tenl p¢miitt¢d by laiv, ive do noi accepi or assum¢ rcsponsibilily lo an)'onc othcr than th¢ chariiable company and thc chariiable compan) s mcmbcrs as a body. for our audit iTr'ork-, for ihis rL'port, or for the opinions wc have fornied. l ini Juncs fcA {f)ir¢ctorl l(Ir and on bclialfol-Ashby tjerry Cuulsons Limited Stdluti)t)' AudilL)r 2 B¢lgrave Crescent Scarl)orough North York5hirc YOII IUB 14ih Novembcr 2024 Pagell
'rhe Charit), Sen'ice Limited Statement of Financial Actii'ities (IncorpoTllting an In£ome and F.xpendilure Account) Cor the year ended 31 _Il#r¢h 2V24 Unresiricled funds Rcstrictcd lunds 2n24 -I'otAI fun(Is 2023 'rolal fiinds Notes In¢om¢ from: Doi)dlions and legacies Charitable activities Investments 3,179,901 3,179,901 ,259.870 63.101 63.012 67,512 4.298 85.601 89.899 Total income 71,810 3,265,502 3J37J12 1,385,983 Tr'xpenditure Raisiijb fund Charitablc activities.. Grani-mak"ing Philanthropy advice and support 12,774 2,907 15,6111 9,966 62.808 54,241 .411.145 9,171 ,473,953 63,412 1,394.785 63,502 I'olal expenditure 129.823 1,423.224 lJ53.047 1,468.253 Operating result for the year before 2airt511055t5 on investments 158.013) 1,842.278 1,784265 (82,270) Nel gains l (losses) on investments {89,579} 188,4781 {315,385) tt income and net moi'ement of fund5 (56,912) .752,699 1,695,787 (397,655) Reeonciliation of fund5 'I'otal lunds" brought fo.1d 231,686 4.442.869 4,674.555 5,072,210 I'otul funds carried fOard 19 174.775 6,195,568 6,370J43 4,674,555 The nolc5 on pages 15 to 25 forni part of thcse financial statements. Page 12
The Charit), Service Limited (Regi5tei-ed nutnber: 02538910) Balance Sheet at 31 March 2024 2024 2023 Notes Fixed a55ets Tangible fixed assets Investments 13 14 748 5,048,280 5,049,028 227 3,632,116 3,632,343 Current assets Debiors Investments Cash at bank and in hand 17,500 330,936 1,063,811 1,412,247 168,105 33,31 894,484 1,095,900 16 Creditors Amounts falling due within one year 17 90,932 53,688 Net current assets 1,321,315 1,042,212 Total assets less current liabilities 6,370,343 4,674,555 Net assets 6,370,343 4,674,555 Funds Unrestricted funds Restricted funds Total funds 174,775 6,195,568 6J70,343 231,686 4,442.869 4.674.555 19 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subiecl to the small companies regime. Tlie financial statements were approved by the Board of Trustees on 14th November 2024 and were signed on its behalf by R G Dyson Chair of the Trustees The notes on pages 15 to 25 form part of these financial statements. Page 13
The Charity Service Limited Cash Flow Slatement for the year cnded 31 March 2024 Note 2024 2023 Cash flow from operating activities Cash provided from operations (i) 385,656 {601,430) Cash flows from investing activities: Transfcrs io investment portfolios Transfers from investment portfolios Equalisations Dividends received (318,814) 12,585 89,899 930,620 1501 63,012 Net cash provided by l (used in) investing activities 216,330 995,133 Change in cash and cash equivalents in thc rcporting period 169,327 393,703 Cash and cash equivalents at the beginning of the reporting period 894.484 500,781 Cash and cash equivalents at the end of the reportiT]g period (i1} ,063,811 894,484 Notes to the cash flow statetnent (i) Reconciliation of net income to net cash flow from operating activities Net income for the reported period (as per the SOFA) 1,695.787 (397,655) Adjustments for: Depreciation charges New donation5.introduced as investments Dividends received Investinent income retained in portfolio Investment fees paid from cash accounts with investment manager Nel (gain) I loss on investments (Increasc) / decrease in debtors Increase / (decrease) in creditors 227 {1,487,108} (89,899} (12,585) 2,907 88,478 150,605 37,245 304 {3J3.775) (63.012) {1,501) 277 315,385 {165,379) 43,926 Iyet cash provided by operating activities 385,656 (601,430 (li) Analysis of changes in net funds At l Apr 2023 Cash Flow At 31 Mar 2024 Net cash Cash al Bank 894,484 894,484 169,327 169,327 1,063,811 1,1163,811 Liquid resources Current asset investments 33,311 33,311 297,625 297,625 330,936 330,936 Total 927,795 466,952 1,394,747 Pagc 14
The Charity Service Limited Notes to the Financial Statements for the year ended 31 March 2024 Accounting policies General inforniation The Charity Service Limited is a charitable private company limited by guarantee incorporated in England and Wales. In addition, it is a Trust Corporation within the meaning of Seclion 68(18} of the Trustce Act 1925. Every tnember of ilie charitable company undertakes to contribulc such amount as may k required not exceeding £ I to the assets of the charitabl¢ company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. The address of the registered office is given in the charity information on page l of ihese financial statements. The nature of the charity's operations and principal activities are lo benefit any charitable institutions or chariiable purposes by provision of advice and assistanc¢. asis of preparing the financial statements I"he charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the hislorical cost convention, mixlified to include certain items at fair value. and in accordanc¢ with Accounting and Reporting by Charities." Statement of Recoinmended Practicc applicable to charities preparing their accounts in accordance with the Financial Reporting, Standard applicabl¢ in Ihe UK and Republic of Ireland (FRS 102) published in October 2019, the F inancial Reporting Stand(ird appliLable in the United Kingdom and Republic of Ireland (FRS 102). the Charities Act 2011 and UK Generally Accept¢d Practice. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise slalcd. Going conccrn Havingy considered the level of funds hcld and thc cxpect¢d level of income and expenditure for the next 12 months. the Trustees have, at the time of approving ihese financial statements. a reasonable expectation that the chariiy has adcquate resources to continue in operational existenLe for the foresecablc future and they thcrefore continue to adopt the going concem basis of accounting in preparation of these accounts. JudgcmL'nts and key sources of estimation uncertainty The Truslccs consider that no judgements. apart from those involving estimates, have been made in the process of applying the above accounting policies which havc had a significant effect on amounts recognised in ihe financial statemenls. The Trustees consider thal no kcy assumptions concerning the fvture and other key sources of eslimalion uncertainly al Ihc rcporting date have been made which have a significant risk ol" e(iusing a malerial adjustment to the canying amounts of assets and liabilities withtn the next financial year. Funds Unrestricted funds comprise the general fund and the designated fund. The general fLd is available for use at the discrction of the Trustees in furtherance of the general objectives of the charity. The designalcd funds represent charitable funds which the charity may use and distribute to appropriate charitable purposes agreed by ihe Truslees. Reslricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and adminislcring sucli funds are charged againsl the specific t"und. The aim and use of each restricted fund is set out in the notes to the financial statements. Page 15
The Charity Service Limited Note5 to Ihe Financial Statemenls for the year ended 31 March 2024 Accounting policies- continued Income InLome is rccognised when the charity has entitlement to the funds, any perfomiance conditions altdched to the item{s) of income have beeii Inet, it is probable that the income will be re¢eived and the amount can be Tncasured reliably. Voluntary income Voluntary income usually consists of small donations which are accounted for when received. The charity is not a legacy seeking organisation but will account for any legacies on the basis that entitlement is taken &s the earlier of the charity being notified of an impending distribution or the legacy being received. Investment income reccivable Inlerest on funds held on deposil is inL.ludL.d when reccivable and the amount can be mcasured reliably by the charity; this is nomially upon notifiLdlion of the interest paid or payable by the bank. l)ividend5 are reco&7nised once the dividend I1&5 been dL'clarcd and notification has b¢'en reeeived of the dividend due. Incomc from charitablc activitie5 InLome from fees for accowitinbj and management services is rewgnised when receivable. Expcniliturc LiabilitiL's are recogmised as expenditure as soon as there is a legal or constructive obligation committing thc charity to that expenditure, it 15 probable that settlement will be required and the amount of the obligation can be tneasured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support cosls and govemance costs, are allocated or apportioned to the applicable expendilure headings in the statement of financial aclivitics. Non-staff costs are allocated directly to the appliLable expenditure heading and staff costs are apportioned on the basis of time spent. Expendilure on charitable aclivilies includes the costs of activities undertaken to fiher ihe pUrseS of the charity and iheir associated supp)rt costs. Support costs are those functions that a55jSt the work ofthe charity but do not directly undertake charitable activilies. Support costs include administrative and govemdnc¢ costs. Govemance costs comprise all costs involving the public accouiitability of'the charity and its compliance with regulation and &iood practice. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was inLurred. Grants payable Granls are voluntary payments made to charitable inslitutions. Grants nominated by donors ar¢ accounted ror when they are paid. Lxpenditure on other granls is included when the grants have been approved and any conditions attached by ihe Irustees have been satisfied. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued &s expenditure. Rccognised gains alld losses All gains and losses are idken to the statement of fin{Cial activities &s they arise. Realised gains and losses on investments are calculated £LS tlie difference between sales proceeds and their OPLninLi caryinLy value or their purchase value if acquired subsequent to the first day of the finanLial year. Uiire<ilised gains and 105ses are calculated as the difference between tlie fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the statement of financial activities. Page 16
The Charity Service Limited Noles to Ihe Financial Statements for the year ended 31 March 2024 1. Accounting policies - continued Tangible red assets E.'ixL'd ¢issets costing more than £500 are capilalised (It Lo%l and are depreciated over iheir estimated useful economic lives on a straight line b(Isis al the following annual ralL%. Computer equipment 33 1130/0 Investments Inveslments are a fonn of basic financial instrument and are initially recognised at their transaction value and subsequenily measured at ihcir fair value, which is taken as the markel value al the balance Sheet date. The statLmcnt of financial activities includes the net gains and losses arising on revaluation and disposals througvhout the year. Cash Iield by investmenl managers is classified as currenl asset inveslments. Pension costs and other post-retirement benefits The charilablc company orKratcs a defined contribution pension scheme. Conlribulions payable to the charitable company's nSIOn scheme aK charged to the Slalemenl of Financial Activilies in ihe period to which they relate. Debtors and Credito receivable I payable within one year Debtors and creditors with no slaled inlerest Tate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognised in expenditure. Impairnient As5Cts not measured at fair value are reviewed for any indication that the asset may be impaired at each balancc sheet date. If such indication exists, the recovcrable amount of the assel, or Ihe asscl's genL'fdling uniL is cstimaled and compared to the canying amounl. Where the carying wnount exceeds its recoverable amounL an impainnenl loss is recognised in profit or loss unless the asset is Caled at a revalued amount where the impairn]cnt loss is a revaluation decrease. Provi%ions Provisions are recognised when the charity has an obligation at the balance sheet date &$ a result of a past cvenl, it is probable that an outflow of economic benefits will bc required in settlement and the amount can be reliably estimated. Employee benefits Wheii emplo)Iccs have rendered service to the charity, short-tern] employee benefits to which the employees are entitled are recognised ai ihe undiscounted amounl exCted io paid in exchange fur ihal service. Thc charity contributes lo a defined contribulion workplace pension plan for the bencfit of its employees. Contributions are ¢hargcd to ihc statement of fin¢la1 (Ictivilies in the period io which they relate. Taxation The Lharity is exempt from corporation i&x on its charitablc activilies. Page 17
The Charity Sen'ice Limited Notes to the Financial Statements- continued for the year ended 31 March 2024 Donations and legacies Unrestricled funds Rcstri¢ted funds Total funds Year ended 31 March 2024 Donations Legacies 3,179,901 3,179.901 3.179,901 3,179.901 Year ended 31 March 2023 Donations Legacies 1,259,870 1,259,870 1.259,870 1.259,870 Ineome from charitable activities Unrestricted funds Restricted funds Total funds Year ended 31 March 2024 Philanthropy support services 67,512 67,512 Yeiir encled 31 Marcli 2023 Philantliropy support services 63,101 63.101 Investmenl income Unrestricted funds Restricted funds Total funds Year ended 31 MarL'h 2024 Incoine from investinent portfolios 4,298 85,601 89.899 Year ended 31 March 2023 Income from investment portfolios 3,244 59,768 63.012 Page 18
The Charit), Service Limited Notes to the Financial Statements- continued for the year ended 31 March 2024 5. Total expenditure Unrestricted funds Reslricled funds Total funds Note Year ended 31 March 2024 Raising funds Grant-making Philanthropy advice and support 12,774 62.808 54,241 129,823 2,907 ,411,145 9,171 1,423.224 15,681 1,473,953 63,412 1,553,047 Year ended 31 March 2023 Raisin&y funds Grant-making Philanthropy advice and support 9,689 45,079 49,202 103,970 277 1,349,706 14,300 1,364.283 9,966 1,394,785 63,502 1,468.253 6. R2ising funds Unrestricted funds Reslricled funds Total funds Year ended 31 March 2024 St<iff costs (note 9) Direct costs Support costs (note 10) 8,222 1.646 2,906 12.774 8,222 4,553 2,906 15,681 2,907 2.907 Year ended 31 March 2023 Staff costs (note 9) Direct costs Support costs (note 10) 7,329 166 2,194 9.689 7,329 443 2,194 9,966 277 277 7. Grant-making Unrestricted funds Restricted funds Tothl funds Year ended 31 March 2024 Grants payable Direct costs Support costs (note l O) 38,618 9,655 14,535 62,808 1,378,420 32,725 1,417,038 42,380 14,535 1,473,953 1.411.145 Year ended 31 Mureh 2023 Grants payable Direct costs Support costs (note l O) 27,230 6,881 10,968 45,079 ,326,201 23,505 1,353,431 30.386 10,968 1.394,785 1.349.706 Page 19
The Charity Service Limited *Otes to the Financial Statements - continued for the year ended 31 Illareh 2024 7. Grant-making (continued) Grant5 payable 2024 2023 Grants paid lo organisations Grants paid to individuals 1,376,542 40,496 1,417,038 1,303,926 49,505 1,353,431 A full list of grants payable to organisations is available on the charity's website at.. htt .'Ilcharil service.er .uklw conlenvu loads120241111Co f-Lisl-of- rant ald-202>24.xlsx Grants payable to individuals are not disclosed individually due to data protection requirements. During tl)e year, no grants were made lo related parlies (2023- none). 8. Philanthropy advice and support Unrestricted funds Restricted funds Total funds Year ended 31 Marcll 2024 Staff costs (note 9) Direct costs Support Costs (note l O) 42,614 42,614 9,171 11,627 63,412 9,171 11,627 54,241 9,171 Year ended 31 March 2023 Staff costs (note 91 Direct costs Support costs (note l O) 40,428 40,428 14,300 8,774 63,502 14,300 8,774 49,202 14,300 9. Staff costs 2024 2023 Salaries Employers Nl Pensions ¢osts Other staff costs 58,318 557 2,923 7,070 68,868 54,529 275 2,725 142 57,671 The average monthly number of employees during the year was.. 2024 2023 rull time Part time I'otal staffing in the year ended 31 March 2024 was 1.5 full time equivalents (2023- 1.4). No employees received emoluments in excess of £60,000. Page 20
The Charity Service Limited Notes to the Financial Statements - continued for the year ended 31 March 2024 10. Support costs The charity allocates governance and support costs to charitable activities on the basis of the estimated time spent by staff on each activity. The allocation of supprot costs is set out below. Philanthropy Support Raising Funds Grantmaking Total Year ended 31 March 2024 Staff costs (see note 9) Information technology Office and admin costs Governance 1,803 331 353 419 2,906 9,016 1,656 1,766 2,097 14,535 7,213 1,324 1,412 1,678 11,627 18,032 3,311 3,531 4,194 29,068 Year ended 31 March 2023 Staff costs (see notc 9) Information technology Office and adrnin costs Governance 991 361 389 453 2,194 4,957 1.803 1,943 2.266 10,968 3,966 1,442 1,554 1,813 8,774 9,914 3,605 3,885 4,532 21,936 I l. Net income (expenditure) 2024 2023 Net income / (expenditure) is stated after charging.. Audit fees - current year Depreciation - owned assets 4,500 227 4,532 304 Investment gains l (losses)= Realised investment gains 1 (losses) Unrealised investment gains / (losses) Total investment gains / (losses) (119,082) 30,604 (88,478} 10,213 (325,598) (315,385) 12. Trustees, remuneratioll and benefits and expenses No trLlStee receivcd or waived remuneratioii or other benefits in the year {2023'. nil). No trustcc was rcimbursed for out of pockct expenses during the year (2023.. nil). Page21
The Charity Service Limited Notes to the Financial Statements- continued for the year ended 31 March 2024 13. Tangible fixed assets Computer equipment C051 At l April Additions At 31 March 911 748 1,659 Depreciation Al l April Clidrge for the year At 31 March (684) (227) {911) Net book value At l March 2023 At l March 2024 227 748 14. Fixed asset InvestentS Li.sted investments 2024 2023 l¥larket value At l April Additions at cost Carrying value of investments sold Gains / (losses) on revaluation At 31 March 3,632,116 3,452,502 (2,024,625) (11,713 5.048,280 4,576,730 2,639,290 (3.329.511) (254,393) 3,632,116 Analy515 of inveslments Multi-assei funds Otlier assets 5,048,280 3,632,116 5,048.280 3,632,116 Historic cost of investments 4,824.256 3,439,837 There were no investment assets outside of the UK. Page 22
The Charity Service Limited Notes to the Financial Statements- continued for the year ended 31 March 2024 15. Debiors 2024 2023 "rradc debtors Prepayments Other debtors 17,500 9,6a9 700 157.796 168,105 17.500 16. Current asset investments 2024 2023 Cash accounts with investment manager 330.936 33.311 17. Creditors: amounts falling due within one year 2024 2023 Trade creditors Social security and other teS Oiher creditors Accruals 3.761 1.374 904 84.892 90.932 361 1.166 651 51.510 53.688 18. Anulysis of net assets between funds Unrestricted funds Restricted funds Total funds As ftl JI Nlarcli 2024 l angbile fixed assets Jnvcstments Current assets Current liabilities 748 105.784 96.390 (11.0411 191.881 748 5.048.279 .412.247 {90.9321 6.370.342 4.942.496 1.315.857 179.891) 6.178.462 As al 31 Marcli 2023 Tangbile fixed assets Investments Currenl assets Current liabilities 227 164.682 78.409 (11.632) 231.686 227 3.632.116 1.095.900 153.6881 4.674.5i5 3.467.434 .017.491 142.056) 4.442.869 Pa8e 23
The Charity Service lJimited Nole$ to the Tr"inaneial Statements - ¢ontinlled for the year ended 31 Marth 2024 19. Movements in funds At l April Incoming resources Resollrces expended Gains l Transfers (losses) At31 Mareh Year ended 31 Marcli 2024 Linrestricted funds GLnLrdl lund D¢signaled- l Tusle¢s' discretionary Total unrestricted funds 70.085 161.601 231.686 67.512 4.298 71,810 181.549) 148.274) (129.823) 56.048 118.727 174.775 1.101 1.101 Restricted funds Human Righis & Nursing A'ardS CJLI)rgc Jamc.s Pcnninglon BLqucst Dick C'dinplin F.ducational Trust Caqtlllield Charitable Fund Charity Chcque accounts Gabl¢s F.nd Trust Earth50ng Trust KL.Ily Trust Dan and F.ppie Trust Thc Tithe Laie Richard14arding's Fund Castlelield IPA 663.946 226.886 15.072 22.310 45.079 450.483 1.979.942 220.901 818.250 12,035 3,556 15,928 8.367 504 7.808 36,246 1.948.196 7.442 536.159 602.787 86.472 (31,423) (113.265) (13.997) 19.466) 1.848 (1.165} 646.406 116.012 17.a03 21,211 45.583 351.514 .994.804 .396.205 817.019 100.551 602.787 86.472 (104.383) (27.604) (679.890) (7.588} (435.608) (2.395) 6.220 (93.002) (1.085) Tot81 restricted funds 4,442.869 3.265,501 1.423.223) {89,579 6,195.568 TotAI funds 4,674.555 3.337.311 1.553,046 88,478 6,370.343 Year ended31 Alareh 2023 Unrestricted funds GLnLral fund DisigTnated--frustees' discreiionary Total unrestricted fund5 76.663 207.242 283.905 63.282 3.063 66.345 {69.8601 34.1101 (103.9701 70.085 161.601 231.686 114.594) (14,5941 Restricted funds Aiin king Lcgac>' Dan dnd Eppie Trust CasilLfield Charitable Fund Charity Cheque accounis Dick Camplin Educalional I'rust F.arthsong Trust Gables F.nd Trust George James Penninglon Bequesi Human Rights & Nursing A wards Kelly Trust 5,152 (5,152) (500) 818.750 9.764 818.250 22.310 45.079 15.072 1.979.942 450.483 226.886 663.946 220,901 12.546 45.079 16.377 2,295.053 207.516 386.843 748.110 1,071,629 14.375 32.516 350.324 5.254 10,984 77.671 (15.680) (200.741) {146.886) (97.697) (9.660) (138.032) (27.179) (37.337) {57.811} 1869,144) (59,2551 Total restricted funds 4.788.305 1.319,638 {1.364.283) 1300,7911 4,442,869 TotAI funds 5,072.210 1.385.983 (1.468.253) 1315.3851 4.674.555 Page 24
'rhe c.harity Service Limited Notes to the Tr-ijjancial Statements - continlled for the year ended 31 Illarch 2024 19. Movements in funds (continued) ruiiilpurposes 'I'hL g)LnL'ral fund receives ils incomL Irom thc fces charged by I'hL' Clidrity Service Limitcd and providLS tIIL resources lo support the running cos15 ofthc Lharity. The designated fund repres¢nls unrestriucled funds sel aside by the Trustee5 for grant-making. All reslricied fund& except lor ihL Gcorgc Jatncs PcRnington Bequest fund. are donor advised funds. Granis are made from ihese funds ai thc rcquc5t of donors {subject lo appropriate due diligenc¢ checks). The George James Pennington ljequcst fund providcs grants to assist ii'iih activiiies. ameniiies or ¢quipm¢nl that will improve ihe general welfare of pcoplc in Manchester. 20. Related party disclosure5 Mr J S Eckersley and Mr M S Ralph. h()ih iruslees ofThe Charity %LrvicL. arL a150 shareholders in CtIlr7c1d lartncrs Limited. in iN'hiLh thL charity has a small sharclioldiiig ol-non-vuling class B shares. During the y¢ar endL'd 31 March 2024. the charil}' rcceived a dividend from Casilcfield l)artners Limitcd of £23812023.. £181)- During the year. thc charit), also reLeived donations from CastlLfi¢ld Partners l.imited and ils associalcd companies Castlefield Advisory Partncrs and Conbrio Fund Partners amounting to £8,90912023'. £9.764)- These donations ii'ere made lo a restriclcd fund Lalled the Casilefield Charilablc Fund. Mr J S E¢kersley is also a partner in Casilefield Inveslmeni Partners LLP (of ivhich Castlefield Partners Limitcd is a D¢signaled Member). Thc charity places i%'ith cLler1e1d Investmcnt Partner5 LLP its investmLnis and the investments of several cliariiablL trusts managed b}. the charii), and lor ivhich th¢ iharily is the SOIL Irustce. During ihe year ended 31 Mar¥h 2024. Castlefield Investment l>arlnLrs I,I,P received invtislmenl managLmenl Chdrges of£660.45 (2023.. £277). Mr J S l-'ckersle)' resigned from thc Board of .1 ursless in NovembLr 2023. 21. Funds held as trustee The Charity Service Limited acts as sole trustee for the folloiving charitsble irusts: P4ame Registered Object5 Charity P4umber Chronicle Cinderella Home fund 233536 Providing convalesccnt or recuperativc holidays for.sick and convalcsccnt children of poor peons. Manchester and Salford MLdical Charities Fund 223079 Making grants to charities in Ihc Manchester and Salfnrd are& particularly for the provision of comforts. amenities and assistance lo the poor. the sick and the infinn. Thc Richard Budenberg Charitable Trust 267673 Making grants io charities. In the capacity as sole tnistce, The Charit}, SeTh'ice Ltd is th¢ custodian trustee for the investment portfolios held b}, thc above trusts and manaLFed by Casilefield Inve.%lm¥nt Pdrtners l.l.P. Pagc 25