OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Charity Registration Number: 1013292

Scottish Charity Registration Number: SCO48726 Company Number: 2733932 REGISTERED ADDRESS 3 Arlington Square Downshire Way Bracknell Berkshire RG12 1WA DIRECTORS Alan Vowler Caroline Gumble (resigned 26[th] June) Dean Burgess Kye Gbangbola Michael Smith Paul Bayley Peter Smith Robert Mawson Roger Gillespie Sally Hill Trevor Patterson COMPANY SECRETARY Emma McKay ADVISERS: AUDITORS HaysMac LLP 10 Queen Street Place London EC4R 1AG BANKERS HSBC Bank plc 69 Pall Mall London SW1Y 5EY INVESTMENT MANAGERS AJ Bell 4 Exchange Key Salford Quays Manchester M5 3EE

1

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Report of the Directors and Trustees for the year ended 31 December 2025

The Directors, who are also the Trustees of the Company, present their report and the audited financial statements for the year ended 31 December 2025. The audited financial statements which form part of this report, comply with the Charities Act Accounting Rules, Financial Reporting Standard (FRS) 102 and Charities Statement of Recommended Practice (SORP) Accounting & Reporting by Charities (Second Edition, effective 1 January 2019).

Governing Document

The Chartered Institute of Building Benevolent Fund (The Benevolent Fund) which operates as CIOB Assist is a Company Limited by Guarantee, registered in England and Wales number 2733932, and governed by Articles of Association incorporated 23 July 1992, as amended and adopted by a special resolution passed 26 June 2018. It is a registered charity in England & Wales number 1013292, and a Registered Charity in Scotland number 048726.

CIOB Assist has been established to continue and develop the charitable work and provide for those that may fall within the classes of beneficiaries covered by the objects of this Association which are:

The gratuitous relief by means of financial or other assistance of necessitous persons who are from time to time or have been Fellows, Members, Honorary Fellows, Licentiates, Incorporates, Associates, Graduates, Students or affiliates of The Chartered Institute of Building (CIOB) as the same are defined in the byelaws thereof.

Organisation & Management

The Board of Directors who are also its Trustees manage CIOB Assist; the names of those who served in 2025 are shown on page 1. They are normally elected at the Annual General Meeting; each year a proportion may retire by rotation in accordance with the Articles but are eligible for re-election.

The Board meets in April, July and October of each year.

Trustees Induction and Training

The Board will consider and initiate appropriate Induction and Training programmes in accord with its conduct of CIOB Assist. Trustees will undertake periodic training in order to be adequately informed regarding their responsibilities and to maintain best practice governance.

CIOB Assists Trustees receive no remuneration in connection with their duties but they are eligible for and do claim reimbursement from time to time for reasonable travel expenses.

The Trustees maintain overall responsibility for stewardship. Day-to-day responsibility for the management of the service is delegated to the Secretary.

Connected Charities

There were no connected charities although CIOB provides administrative support. The majority of donors are members of CIOB.

2

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Report of the Directors and Trustees for the year ended 31 December 2025 (continued)

Principal Aims and Objectives

Our charity’s purposes are as set out in the objects contained in the company’s Memorandum of

Association and are:

Mission Statement

Our mission is to provide advice, practical assistance and financial support to CIOB members, their families and members of CIOB staff who seek the services of CIOB Assist during times of need.

We aim to achieve our mission by:

Principal Activities

The principal activities embrace provision of advice, practical support and financial support to CIOB members, their families and CIOB staff members. This activity is managed by way of a telephone advisory service augmented by information and further support delivered by way of email communication, internetbased publicity and publications.

Financial assistance to help with day-to-day household costs as well as one-off expenditure is provided by welfare grants. The service is ‘demand-led’, with resources being utilised to reflect the variable demands upon the service. This flexibility ensures resources are sufficient to meet the needs of beneficiaries at all times.

Public Benefit

Trustees of CIOB Assist are cognisant of the Charity Commission guidance regarding charities and public benefit. The Trustees consider that its charitable purpose is as defined by the Charities Act 2011 (as amended), for the relief of hardship. It demonstrates public benefit by providing financial and other assistance to past and present CIOB members, their families (and former members of organisations that have merged with the CIOB) and members of CIOB staff that have encountered difficulties during their lives.

There is potential for over 40,000 people to seek the services of CIOB Assist. Financial assistance is provided at the discretion of Trustees in accord with specific parameters and by reference to the needs and circumstances of individual applicants.

3

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Report of the Directors and Trustees for the year ended 31 December 2025 (continued)

Principal Funding Sources

CIOB Assist is mainly dependent upon funding by voluntary donations and locally based fundraising events from members and other supporters in the construction industry.

Additional income by way of Gift Aid is reclaimed within the legal framework of HMRC Reliefs for registered charities as well as investment income.

Review of Activities & Achievements in 2025

Enquiries

CIOB Assist received a record number of enquiries in 2025, reflecting increased awareness of the charity alongside growing financial pressures affecting members and their families. Awareness was driven by targeted marketing campaigns, ambassador activity, and event promotion, as well as direct outreach to members who had previously applied for the concessionary membership rate. Rising unemployment and ongoing cost-of-living pressures also contributed to increased demand for support.

In total, CIOB Assist received 1,262 enquiries during 2025 (2024: 1,221). The majority of enquiries came from members experiencing financial hardship as a result of ill health or unemployment. Support provided included re-employment assistance, financial help for members struggling with day-to-day living costs, and signposting to debt and benefits advice and other relevant support agencies where appropriate.

The CIOB Assist website provides comprehensive information about the support available to members and their families and contact details. Website visits and downloads of application forms continued to increase month on month throughout 2025.

Financial support

During the year, CIOB Assist provided £63,056 in direct financial support to beneficiaries worldwide (2024: £113,939). All applications were reviewed by the Trustees, who assessed each case individually, considering supporting evidence and the broad criteria set out in the Grant Assistance Policy.

Wellbeing support

CIOB Assist also continued to provide vital mental health and wellbeing support to members, staff, and their families. This service offers personalised assessments and access to tailored counselling, therapies, and resources, delivered by AnxietyUK and fully funded by CIOB Assist. In 2025, £10,863 was spent on mental health and wellbeing support and resources (2024: £14,663).

The ‘Need to Talk?’ suicide prevention campaign, launched at the end of 2024, continued to be promoted throughout 2025. An increasing number of companies displayed campaign stickers in private areas on sites and in offices. The QR code directs users to the CIOB Assist “Get Support” webpage, which highlights crisis helpline numbers and signposts emergency services and specialist charities offering support with issues such as debt, abuse, and addiction. In 2025, 482 people accessed the support page via the QR code.

During the year, CIOB Assist conducted a survey to better understand the needs of members who provide unpaid care for loved ones. The findings will help shape future support, including targeted signposting to local services and the provision of practical financial and wellbeing support, such as respite care.

CIOB Assist also administers applications for the CIOB concessionary membership rate. This process enables the team to identify applicants who may benefit from additional support and to proactively offer relevant assistance based on their circumstances.

4

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

In 2025, CIOB Assist introduced a new service to support members following redundancy. This initiative provides professional CV reviews and interview skills training, offered at a significant discount, with the cost fully covered by CIOB Assist to ensure accessibility.

Fundraising

Income is generated primarily through voluntary donations from members when renewing their membership via the online portal. In addition, a dedicated donation platform enables members to make one-off donations, create fundraising pages, or donate in memory of a loved one. In 2025, CIOB Assist received £72,268 in donations (2024: £47,940).

Local hub staff and members continued to support CIOB Assist by raising awareness and funds at events across the UK, including participation in the Belfast Marathon.

During the year, CIOB Assist welcomed eight new Ambassadors from within the local hubs. Ambassadors play a key role in promoting CIOB Assist at local hub committee meetings and events, helping to raise both awareness and funds. They receive a monthly report to support this activity, which has proven highly effective in increasing engagement and donations.

The CIOB IT department also raised over £2,000 for CIOB Assist in 2025 by refurbishing and recycling old IT equipment, which was offered to staff in return for donations to the charity.

Future Plans & Developments

The Board of Trustees will continue to review and expand the range of support offered by CIOB Assist in response to evolving member needs. Building on the recent survey into unpaid carers, future work will explore other challenges members may face, including domestic abuse and addiction, to identify how CIOB Assist can provide appropriate support.

Following the implementation of a new CRM system, CIOB Assist has worked closely with CIOB colleagues to improve and streamline processes and reporting. This will enable the charity to identify trends more effectively and respond proactively to changes in demand, such as contacting members affected when a company enters administration.

CIOB Assist is also working in partnership with CIOB and Parkrun to establish a CIOB Run Club. This will be the first Parkrun platform of its kind, allowing members to track participation by local hub. Once established, an annual event is planned for October, encouraging members to take part in a local Parkrun or walk while raising funds for CIOB Assist.

In addition, CIOB Assist will host its first online quiz event in April to raise funds through entry fees and sponsorship, with plans to roll this initiative out globally.

The charity will continue to enhance its marketing and digital presence to promote available support, including exploring opportunities through the CIOB mobile app and the increased use of QR codes to enable quick access to information.

Finally, CIOB Assist will maintain its investment in tools such as Citizens advice-Advisernet to ensure members have access to up-to-date, quality-assured information on welfare issues, including employment, benefits, housing, and debt.

5

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Financial Results

The activities of CIOB Assist for the year ended 31 December 2025 resulted in net expenditure of £62,619 (2024: £121,059). This was a planned budget deficit to use the unrestricted fund for the purpose for which they were raised to support members.

Voluntary income from Members increased from £47,940 in 2024 to £72,268 in 2025 an increase of 51%.

Direct charitable expenditure has decreased from £182,595 in 2024 to £134,923 in 2025, a decrease of 26%. With enquiries increasing by 3.4% on the previous year, the team has remained diligent in confirming that all state benefits and alternative support avenues have been exhausted before issuing grants

While the services of CIOB Assist are to a great extent ‘demand led’, with members encouraged to apply for support if they are facing circumstances of difficulty or hardship, the service is now much more proactive in reaching out to members who have indicated signs that they may be struggling in their concessionary application form or indeed at any time while in contact with CIOB staff at an event for example.

Provision of financial assistance is determined by the Board of Trustees by email in accordance with the Grant Review document and guidance.

Overall, the value of investments held increased from £817,714 in 2024 to £837,511 in 2025. This increase reflects a market value gain of £31,926, offset by a £14,858 cash reduction that was reinvested into the portfolio as the Fund transitioned to AJ Bell under a new model in which all income is now reinvested.

Key management personnel remuneration

The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 8 to the accounts.

Grant making Policy

Potential beneficiaries of CIOB Assist are past and present CIOB members and affiliates, their dependent families and members of CIOB Staff in financial hardship.

Potential beneficiaries must complete an application form which is assessed against standard criteria to enable the Trustees to evaluate their eligibility for financial assistance.

Reserves Policy

The Trustees have reviewed the reserves policy in line with the risk management process and assessed the level of reserves required. The financial risks have been reviewed, and the Trustees have identified the main likely calls on reserves to be as follows:

They have concluded that an appropriate level of reserves to deal with these scenarios is £500k. Total funds held by CIOB Assist at 31 December 2025 were £864k (2024: £895k).

6

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

The current level of reserves therefore exceeds the reserves policy. CIOB Assist plans to continue to invest these funds in developing CIOB Assist, finding new ways to support beneficiaries and broadening engagement.

Investment Policy

The Trustees have agreed with Epoch Fund Managers the following investment strategy:

“Balanced in nature with a remit to pursue a growth policy, as market conditions may allow. Investments in gambling, tobacco and armament stocks are specifically prohibited as a matter of ethical investment policy”.

Risk Management

Periodically, the Trustees assess the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity. The trustees are satisfied that provisions and safeguards are in place to minimise exposure to risks. Significant risks include the following:

In addition, there are a variety of conditions or significant events which may occur, either within or outside of the control of CIOB Assist, such as:

Action to mitigate the main risks has been taken as follows:

The Trustees continue to review and to assess the financial position as regards donated income, with particular reference to ensuring members are made aware of CIOB Assist and are encouraged to both support it and to utilise it.

7

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Trustees’ Responsibilities Statement

The trustees (who are also directors of The Chartered Institute of Building Benevolent Fund Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charity (Accounts and Reports) Regulations, the Charities and Trustee Investment (Scotland) Act 2005. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees confirm that:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the Board

RG MAWSON

Robert Mawson Chairman of Trustees Date: 26[th] March 2026

8

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Independent auditor’s report to the members and trustees of The Chartered Institute of Building Benevolent Fund

Opinion

We have audited the financial statements of The Chartered Institute of Building Benevolent Fund for the year ended 31 December 2025 which comprise Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

9

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charity Accounts (Scotland) Regulations (as amended) require us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to 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, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the requirements of charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011.

10

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the recognition of voluntary income and grant expenditure. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Kathryn Burton (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of HaysMac LLP, Statutory Auditors London Date: 20/05/2026 EC4R 1AG

11

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND

(A Company Limited by Guarantee not having a share capital)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025

Profit and Loss Account for the year ended: 31 December 2025

Profit and Loss Account for the year ended:
31 December 2025
Notes 2025 2024
£ £
Unrestricted Unrestricted
Income from:
Donations 4 82,586 57,025
Investments 5 6,525 22,715
Total 89,111 79,740
Expenditure on:
Charitable activities 6 134,923 182,595
Raising funds 16,807 18,204
Total 151,730 200,799
Net expenditure before investment gains (62,619) (121,059)
Net gain on investment 9 31,926 54,538
Net Expenditure (30,693) (66,521)
Reconciliation of funds
Total funds brought forward 894,771 961,292
Total funds carried forward 864,078 894,771

All amounts relate to the continuing activities and there are no restricted, designated or endowment funds.

All recognised gains and losses are included in the Financial Statement of Activities.

The notes on pages 13 to 19 form part of these financial statements

12

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

BALANCE SHEET AT 31 DECEMBER 2025

Company Number: 2733932

2025
£
Notes
Unrestricted
FIXED ASSETS
Investments
9
837,511
Current Assets
Debtors
10
13,761
Cash at bank
47,928
61,689
Creditors
Amounts falling due within one year
11
(35,122)
Net current assets
26,567
Total assets
864,078
The funds of the charity
Unrestricted Funds
864,078		 2024
£
Unrestricted
817,714
82,409
10,260
92,669
(15,612)
77,057
894,771
894,771

This report has been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Approved and authorised for issue by the Board of Directors on 26th March 2026

RG MAWSON

Robert Mawson Chairman of Trustees

13

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS

1. Incorporation

The Benevolent Fund is limited by guarantee and does not have a share capital. In the event of The Fund being wound up, the liability of each member to contribute to any deficiency is £1.

2. Going concern

The Directors have assessed the financial position and operations of CIOB Assist and are satisfied that the charity remains a going concern. Demand for support continued to grow during 2025, with a record 1,262 enquiries received, supported by increased awareness and targeted. Voluntary income rose significantly to £72,268, a 51% increase on the prior year, and investment values increased to £837,511 following market gains. At the year end, total funds stood at £864,078, exceeding the Trustees’ reserves requirement of £500,000. Based on these factors and planned future activities, the Trustees consider that CIOB Assist has adequate resources to continue its operations for at least twelve months from the approval of these financial statements, and therefore the accounts have been prepared on a going concern basis

3. Principal accounting policies

Basis of accounting

The financial statements have been prepared in accordance with 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 (FRS 102) (effective 2 October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Chartered Institute of Building Benevolent Fund Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Income

Donations are received from members of CIOB in conjunction with their 2025 subscriptions. In addition, the amounts received in the fourth quarter of 2025 as an additional amount alongside CIOB 2025 subscriptions, are recognised in the year of receipt. Investment Income is recognised when receivable.

Expenditure

Expenditure related to the furtherance of the charity’s objects is shown as charitable activity. Governance costs are the costs related to the governance of the charity including Trustee expenses and the cost of audit. Support costs are directly apportioned to either charitable activities or raising funds as most appropriate. Grants are recognised when paid.

Investments

The Benevolent Fund’s investment portfolio is managed by external investment managers and is stated at market value. Gains and losses on individual investments are treated as unrealised as the proceeds remain within the managed fund.

Funds

14

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND

(A Company Limited by Guarantee not having a share capital)

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Estimates and judgements

Management are required to make judgements and estimates that affect the application of policies and reported amounts of assets and liabilities, income and expenses. These estimates and associated assumptions are based on both historic experience and current factors that are believed to be reasonable under the circumstances. The results form the basis of current judgements about, for example, any impairment to the carrying values of assets that are not readily apparent from other sources. This also applies to the implementation of reserves policy.

15

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (Continued)

4. Voluntary Income

Donations from Members
Gift Aid
5.
Investments Income
Brewin Dolphin Portfolio
AJ Bell Portfolio
6.
Charitable activities
Welfare grants
Support cost for advice and help given by Fund Manager
Anxiety UK
Other expenses
Governance Costs
 2025
£
2024
£
72,268
47,940
10,318
82,586
9,085
57,025
2025
£
2024
£
2,186
22,715
4,339
-
6,525
22,715
2025
£
2024
£
63,056
113,939
40,185
37,489
10,863
14,663
5,404
2,202
15,415
14,302
134,923
182,595

Welfare grants are awarded to eligible individuals on the basis of financial hardship. Eligible individuals include members and staff of CIOB and their families. There were 37 grants awarded in 2025 and 51 in 2024.

The Fund Manager costs are apportioned across charitable activities, raising funds and governance costs based on time spent on each area. In 2025 the appointment of the Manager’s time to charitable activities was 70% (2024: 70%)

16

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (Continued)

7. Raising Funds

Direct costs
Fund Manager costs
Governance costs
7a.
Governance costs
Governance related costs of Fund Manager
Audit and Professional Fees
Trustee and Fund Manager's expenses		 2025
2024
£
£
3,406
6,067
11,481
10,711
1,920
1,426
16,807
18,204
5,741
5,356
9,693
7,713
1,901
2,657
17,335
15,726

Governance costs are apportioned across the activities to which they relate on the basis of overall direct cost.

Auditor’s remuneration

Included in Audit and Professional Fees expenditure is Audit Fee of £6,078 (2024: £5,790).

8. Directors and staff

None of the trustees receive any emoluments for their services to the Benevolent Fund. Four trustees claimed £1,098 in 2025 (two trustees claimed £991 in 2024).

The Benevolent Fund has no staff, and the Fund Manager is seconded by the CIOB, her employer.

9. Fixed asset investments

Managed
Investment (BD)
£
At market value
1-Jan-2025 817,714
Additions 846,692
Disposals (840,167)
Increase in market value 31,926
Withdrawals/Transfer to AJ (18,654)
Bell Cash
31-Dec-25 837,511
At cost
31-Dec-25 818,430
31-Dec-24 659,979

17

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND (A Company Limited by Guarantee not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (Continued)

During 2024, the Trustees undertook a review of the charity’s investment arrangements with the support of a professional investment adviser.

Following this review, the charity’s investments were transferred from RBC Brewin Dolphin to the AJ Bell platform in 2025 and are now managed using a diversified multi-manager investment approach.

The transfer of investments required the disposal of certain assets held under the previous arrangements, resulting in the crystallisation of gains during the year.

These disposals were undertaken to facilitate the implementation of the revised investment strategy and were considered by the Trustees to be in the best interests of the charity.

There are no individual investments representing more than 5% of the managed investment portfolio as at 31 December 2025, which was invested as follows:

UK Bonds
Overseas Bonds

UK Equities
Overseas Investments
Commodities
Other Investments
Cash		 Market
value
Cost
£
£
89,130
85,028
60,998
58,191
31,102
29,671
327,911
312,821
18,833
17,966
292,017
278,578
17,520
17,520
837,511
799,775

The Fund views the portfolio as a single class of investments, albeit that the composition of the portfolio at the balance sheet date is as set out in the market value analysis table above.

10. Debtors



Accrued income

Prepayments and Accrued Income
Amounts owed by CIOB

 2025
£

10,300
3,461
-
13,761		 2024
£
9,023
7,170
66,216
82,409

11. Creditors: amounts falling due within one year

Trade Creditors
Accruals
Owed to CIOB		 2025
2024
£
£
4,044
9,822
7,930
5,790
23,148
-
35,122
15,612

18

THE CHARTERED INSTITUTE OF BUILDING BENEVOLENT FUND

(A Company Limited by Guarantee not having a share capital)

12. Commitments

The Benevolent Fund has no commitments other than those shown in the financial statements.

13. Cash flow statement

The Benevolent Fund has taken advantage of the exemption to not prepare a cash flow statement on the grounds that it is a small company.

14. Related party transactions

There were no related party transactions to disclose in 2025 (2024: none)

19