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2024-12-31-accounts

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Our Work and Impact 2024

CISWO works across the UK providing support to individuals and communities to improve the lives of those facing disadvantage due to the impact of the coal mining industry.

Charity No 1015581 SC039529

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Contents

Our work and impact 2024
A message from our Chair and CEO 02
About CISWO 03
Our Strategic Plan 2023-27 04
Our work and impact 06
Structure, governance and management 18
Financial review 22
Trustees responsibility statement 25
Independent auditor’s report 26
Financial statements 31
Balance sheet 32
Notes to the fnancial statements 33

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Introducing our Work and Impact report 2024

A message from our Chair

The Very Reverend Robert Cooper

A message from our CEO

Nicola Didlock

I am delighted to present this report, highlighting the incredibly positive work and impact of CISWO in 2024.

During the past year, the importance of charitable organisations such as CISWO has continued to grow, with increasing need and ever rising costs impacting on the families, communities and other charities that we support. Contained in the report are real examples of how CISWO helps, the outcomes that have been achieved and the impact our work has had.

During 2024 our teams have continued to develop and expand the services we deliver to meet the changing needs of our beneficiary groups. This takes time, dedication, and unwavering belief in the difference we can make.

Our services have continued to evolve and more than ever, we recognise the need to provide services on a local level and support other charities doing the same. Which is why we have increased our support to smaller mining charities during the year, building on our existing service offer to provide bespoke fundraising support and additional capacity to ensure local mining charities can continue in the long term.

Former coal mining communities continue to face disadvantage which is why our services are needed now and for the foreseeable future. As a Board of Trustees, we continue to plan for that future, to ensure our services are well managed, and to ensure our resources are used to achieve maximum impact.

There are challenges, now more than ever with scarcer resources and greater expectations. There is more to do, and more we can achieve, particularly in working with other charities and developing wider partnerships. I look forward to this work continuing in the next phase of our 5 year strategy.

We continue to be the only mining charity working solely for former miners, mining charities and mining communities, and the challenges we face have intensified this year. However, the dedication of our staff team, invaluable contribution of our trustees, support and incredibly positive feedback from those we work with continues to drive us. This increases our commitment to the delivery of high-quality dedicated services to fulfil our mission of improving the lives of those disadvantaged by the coal mining industry.

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About us

We are CISWO, The Coal Industry Social Welfare Organisation. With a history going back to 1920, we have been a charity since 1995, working to improve lives and reduce disadvantage in coal mining communities.

We are the only national charity solely focussed on supporting former coal miners and their families, other mining charities and local mining communities. We work across the former coalfields in England, Scotland and Wales providing a range of services and support for those impacted by the coal mining industry. Our services make a real difference to people’s lives.

Our Vision & Mission

Vision:

Enabling former coal miners and mining communities to reduce disadvantage.

Mission:

Improving the lives of individuals and communities facing disadvantage due to the impact of the coal mining industry, through the provision of support, improvement of resources and protection of recreational land.

Our Values

Responsive:

Our services are flexible to respond to the differing needs of our client groups. We adapt our services to meet the changing environment and challenges faced by individuals, communities, and other charities that we support.

Impact:

We make a difference through the services we deliver, the resources we use, and the support we provide.

Supportive:

We deliver support to those most in need, provide encouragement, help, and practical assistance to individuals, communities and other charities.

Integrity:

We are fair and honest in our actions and decision making, making sure we do the ethically right thing throughout our work.

Caring:

We are genuinely concerned about those we work with. We care about individuals - our clients and employees, communities, and organisations we work with.

Our people

Our services are delivered though a dedicated, skilled and experienced team of employees deployed across coalfield communities.

During 2024 the average number of employees employed totalled 58 , with 83% employed in the direct delivery of services with the remainder working in central support functions. Of these:

were employed were delivering our at our Thornycroft personal welfare 12 25 Centre. service. were delivering our were employed in community welfare management and 11 provision. 10 administration.

were delivering our personal welfare service.

03 | Our Work and Impact 202302-03 | Our Work and Impact 2024

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Our 5 year strategy 2023 – 2027:

Strategic Plan

Our 5 year strategy for 2023 – 2027 sets ambitious objectives to ensure the best outcomes for our beneficiaries and communities. We recognise the needs of those we work with continue to change and we will continue to adapt our services to meet those needs. Therefore, our focus is on 3 key strategic themes:

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3 key strategic themes:
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Enable

We will enable those we work with to achieve positive outcomes, providing support to help them achieve their goals.

Develop

We will develop our services to meet the changing needs of individuals and communities. We will develop our organisation to be fit for the future.

Improve

We will always look for opportunities to improve the lives of those we work with, improve the services we deliver, and improve the impact we have on individuals, communities and other organisations we work with.

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What we achieved in 2024:

Our plans for 2025:

04-05 | Our Work and Impact 2024

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Personal Welfare

We are here to improve the lives of former coal miners and their families. Through our personal welfare service we provide practical and emotional support, assistance with welfare benefit applications and industry compensation schemes, support with end of life planning and advice around coping with ill health and immobility.

“I think this charity is excellent, you have certainly made a difference to my life by helping to get me extra money and support with my disability.”

“You have 100% given me the confidence to venture out which I couldn’t do before.”

We enhance living conditions, help to maintain independence, reduce social isolation, and provide access to financial assistance in times of need.

2,122

97%

of clients completing our customer satisfaction survey feel they got the help that mattered to them.

90%

of clients completing our customer satisfaction survey feel that we have made a difference to their life.

former miners or dependant family members received our support.

£164,881

provided in grants to former miners and their families in need to help with mobility aids, property repairs, funeral expenses and to support with additional needs caused by pneumoconiosis.

£4,494,085

worth of additional income secured for beneficiaries through welfare benefits, grants and financial assistance from other charities.

“Talking about my issues has made a difference. My case worker put me at ease from the start. She was reassuring about my issues and very informative.”

“As a family we appreciate the work that you do and for going the extra mile to ease our worries at such a stressful time. Words are not enough to express how much we appreciate you.”

“We didn’t know what to expect, our worker made our experience with you so good. You have helped us live a more full life.”

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Glyn’s Story

We provided financial support towards a stairlift for former miner Glyn, enabling him and his family to feel more comfortable in their home following a lifechanging health condition.

Glyn, who lives with his wife Sheila and cares for two sons with life-limiting conditions, faced serious health challenges last year, including a sudden below-the-knee amputation.

This left him reliant on full time care and significantly impacted on his quality of life and ability to get around his home.

“The stairlift has given us back a sense of normality. I can now be back in my own bed. It’s made such a difference to our whole family. Absolutely life changing, thank you.”

John’s Story

We supported John who worked in the coal mining industry for 23 years. Recently diagnosed with pneumoconiosis, John suffers from breathlessness and reduced mobility which has prevented him from being able to work.

Our team identified a number of areas where we could offer support, including helping him to apply for welfare benefits and industry compensation.

Through CISWO support John is now more financially secure and feels less worried about the rising cost of living.

“I can’t thank CISWO enough for everything that they’ve done for me. When you’ve never been on benefits and don’t know where to start, it’s good to know that there is help out there.”

Donald’s Story

Our team helped former miner Donald to apply for financial support and a blue badge, helping to improve his quality of life and maintain his independence.

“Life is much easier now. The blue badge means that I don’t have to walk too far, especially for medical/hospital

appointments. The welfare benefits have also helped me to get my bathroom adapted so that it is more accessible. I have tried to apply for this myself previously, but it was so daunting that I threw the forms away. If it wasn’t for CISWO I wouldn’t have either of these things. I am very grateful for the support I have received.”

06-07 | Our Work and Impact 2024

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Community Welfare Support

We support more than 200 independent mining charities across the UK around a range of issues including guidance, governance advice and help to access funding. Through this we enable them to continue delivering essential recreational and social facilities in local communities.

200+

miners’ welfare charities supported through information, advice and support.

£154,785

CISWO grant funding provided to miners’ welfare charities to support recreation.

6

networking workshops delivered across the UK to upskill and support local trustees.

Easington Social Welfare Centre

We have worked with Easington Social Welfare Centre, County Durham, around a range of issues including governance advice, financial planning and sustainability.

Whilst providing this support it was identified that urgent repairs were needed to prevent the collapse of part of the building’s roof and further internal damage to other parts of the welfare building.

Through a £25,000 CISWO grant, essential repairs have been undertaken, making the welfare safe and watertight, allowing areas of the building to be brought back into use and has protected this well-loved facility for use by future generations.

“As the hub of a former coal mining community, the support we receive from CISWO is vital for the centre to continue the work we do with our residents. They have been a vital contributor to our community over the years. The funding we received will ensure we can bring two rooms back into use, helping us to deliver services this community desperately needs.”

Lynn Dodds, Chair of Trustees at Easington Social Welfare Centre.

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Kinneil Miners’ Charitable Society

Kinneil Miners’ Charitable Society Bowls Section increased their membership by opening up to the wider local community, but needed vital upgrades to the bowling green.

Funding from CISWO has enabled much needed improvements to support the increased use of the facility and provide a safe and welcoming environment for all.

“We feel that CISWO has a much deeper understanding of our community and initiatives and they recognise the bowling green’s role in supporting both recreation and social cohesion.

We really appreciate the financial assistance which will allow the charity to continue supporting the local community and encourage people, old and young, to take part in events and in particular bowling.”

Irene Martin, Treasurer at Kinneil Miners’ Charitable Society.

Carway Park

CISWO provided a grant of £48,000 to Carway Park in Camarthenshire for the redevelopment of the park and the installation of new play equipment to transform this facility into a welcoming space for the local community.

Through CISWO’s support, the essential upgrades at Carway

ensure that this much loved community space remains accessible, safe and fit for purpose for years to come.

“The grant from CISWO has contributed massively to Carway’s new park, benefiting not only the local children but also the wider community.”

Representative from the Carway Committee.

08-09 | Our Work and Impact 2024

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Fundraising Support for Miners’ Welfare Charities

We have increased our support for miners’ welfare charities, expanding our community welfare service to help them to secure additional income to maintain and improve their facilities.

We know that miners’ welfare charities provide essential services and spaces for former coal mining communities, but often face challenges in securing the resources required for repairs and upgrades. Our new fundraising support offer provides dedicated help and resource to access funding and build long-term sustainability.

Through this support, we have helped charities to:

£123,055

in funding has been secured for ten miners’ welfare charities through applications written by CISWO.

£242,180

in funding generated through our advice, support, and application reviews for seven miners’ welfare charities.

Nantyfyllon

We have supported Nantyffylon Miners’ Institute, Maesteg, to apply for funding, successfully achieving £10,560 from The National Lottery Community Fund/Cronfa Gymunedol y Loteri Genedlaethol, and £20,135 from the Moondance Foundation.

The grants provided vital funding for equipment, operational costs, staffing and utilities to enable the charity

to deliver valuable community support, driving forward their work as a charity and helping them to develop a sustainable way forward for the future.

“It was a pleasure to work alongside CISWO helping to provide better community facilities, services and opportunities in the Llynfi Valley.”

Tom Beedle Trustee

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Caring for Land

We are proud to be one of the UK’s largest custodians of recreational land, safeguarding spaces that are central to the well-being of former mining communities.

213

sites safeguarded for social and recreational use.

These spaces, leased and managed by local charities and community organisations include playing fields, parks, and community hubs that bring people together and support active, healthy lives.

In 2024 we have strengthened how we manage and protect land improving governance, supporting local groups with funding and compliance, and investing in site improvements.

We continue to take a proactive and strategic approach, focusing on long-term protection and ensuring that land continues to serve the needs of local communities.

Alongside freehold sites under our direct management, we hold fiduciary interests in over 300 additional sites, protecting a further 2,000+ acres of land for future community use.

Our focus continues to be on protecting spaces for continued use for future generations whilst honouring mining heritage.

Sites protected by CISWO across the UK*

Dinnington Resource Centre South Yorkshire

Astley and Tyldsley Miners’ Welfare Institute Manchester

*Map data© 2025 Google

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Residential Housing

As part of our wider support offer for former mineworkers, CISWO provides a number of self-contained, low cost bungalows for those formerly employed in the coal mining industry, their partners or widows. Bungalows are provided in Pontefract and Barnsley to support those with low incomes and or health issues.

Mark’s Story

17

residential properties provided for former mineworkers and their families.

Following a life changing health diagnosis, Mark was finding it difficult to navigate the stairs up to his first floor property and worried about his future. We supported Mark to move into one of our bungalows which has significantly improved his quality of life, and eased some of his worries around coping in the future.

“Moving into this bungalow has changed my life, in fact I would say that it has also prolonged my life. The first night after moving in I felt like a weight had been lifted, knowing that I have everything I need and no longer had to worry about having to climb stairs to access my home. I am very grateful for all the support.”

Colin’s Story

Colin was previously living in shared supported accommodation after becoming homeless due to changes in his personal circumstances. After moving into one of our bungalows Colin feels more secure about his future in a long-term home that meets his needs.

“I am really settled here and my neighbours are brilliant. I feel secure and more than happy. The bungalow has made a massive difference to my life and I have never looked back. I would recommend CISWO to anyone.”

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Support for Higher Education

Supporting access to higher education has been a longstanding priority for CISWO. We provide grants for former mineworkers and their dependant children from low income families to support with the cost of higher education.

£21,000

of grant support awarded to 14 students.

Phoebe’s Story

Phoebe, who is in her final year of study, was supported with an education grant from CISWO for all four years of her degree at The University of St. Andrews.

Phoebe comes from a proud mining family - her father worked as a miner in Nottinghamshire, along with her uncle and grandfathers on both sides.

Studying a degree in English, Phoebe will complete her course in 2025, and hopes

to continue her studies to become a qualified English teacher.

“The CISWO educational grant was invaluable. I received it every year of my degree and it helped massively. The cost of living at university can become a real economic strain and extra burden when trying to focus on your studies. The grant eased this burden for me and allowed me to focus entirely on my work.

It was also really encouraging psychologically knowing that CISWO wants people like me to go on to further education and succeed.”

Our support has enabled Phoebe to overcome financial barriers and has helped to ensure that she has funding to purchase essential items to aid her studies and help her to achieve her educational goals.

12-13 | Our Work and Impact 2024

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Social Inclusion

We provide a range of support and opportunities aimed at preventing social isolation, through our social day centre in Pontefract, community based group events and access to other organisations and societies.

Thornycroft Day Centre

Our social centre in Pontefract provides the opportunity for clients to access a varied programme of social and recreational activities to enhance physical, mental and social health whilst reducing isolation and loneliness.

327

unique individuals accessed activities to tackle social isolation.

236

activity days delivered at Thornycroft with 8,360 attendances over the year.

What does Thornycroft mean to our clients?

Sandra found support to reduce social isolation following the loss of her husband:

“Thornycroft is wonderful, it has brought me out of myself, as since losing my husband I was really lonely. Thornycroft is a lifeline.”

Jean and Stephen met at Thornycroft and found love when their friendship developed, and a marriage proposal followed:

“We’re so grateful to Thornycroft for bringing us together. It’s given us both something to look forward to and now we can’t wait for the future.”

Stephen has made new connections at Thornycroft:

“Thornycroft has made me feel safe and part of a community – a sense of belonging.”

3,348

transport journeys provided for clients enabling accessibility for those unable to attend independently.

The transport service provided by Thornycroft has improved social isolation for Brenda:

“Since my husband had a stroke he could no longer drive, this made it difficult for me to get out and about. The minibus collection is fantastic, the drivers always helps you.”

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Day Trips

Throughout the year, we provided day trips for our clients at Thornycroft to visit local garden centres and libraries.

Clients also visited Nostell Priory to attend the launch of ‘The Herbal Histories of Wakefield’ a book featuring a community collection of historic herbal remedies and well-being practices, which they had contributed to.

“I have really enjoyed visiting Nostell Priory, the grounds are beautiful. The book is amazing, I feel proud to be a part of it.”

Activity Days and Workshops

Throughout 2024 we hosted a series of workshops from partnership organisations around a range of relevant topics with sessions delivered by Age UK, Grow Wakefield, Turning Point Talking Therapies, Live Well Wakefield, Health Watch Wakefield and The National Trust.

Age UK delivered ‘Get Connected’, a talk around understanding and using digital technologies and online safety.

“The session was really helpful and we now feel more confident paying our bills online.”

Support for social groups

£3,705 of grant support provided to 9 social groups in Wales.

Extending our reach to reduce social isolation within communities, our support for social groups, helps them to deliver valuable services in their local communities. Our grant assistance funds day trips and activities.

CISWO’s grant for Cwmamam Recycled Teenagers funded social trips to Swansea and Barry Island for their group of 16 members.

“We had two lovely trips and are grateful for the funds and your support, thank you so much.”

14-15 | Our Work and Impact 2024

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Structure, Governance and Management

Governance

The charity’s Board of Trustees is responsible for overall governance, and oversight of the delivery of the strategic plan, ensuring our charitable objects are met. These are defined as the promotion of health, the relief of poverty and hardship, and the advancement of education and other charitable purposes for the benefit of employees and former employees of the coal industry in the United Kingdom, employed or formerly employed in any present or past coal mining area of the UK and of their relatives and dependants and of the communities in which they live within those areas.

CISWO is governed by a corporate trustee, CISWO 2014 which is a charity in its own right, registration number 1160157. CISWO 2014 Board includes 12 trustees, each appointed for their skills, experience and expertise through an open recruitment process.

New trustees receive an appropriate induction into the organisation, coordinated through the Chief Executive and Human Resources Manager. At 31 December 2024 there was one vacancy on the Board.

The Board of Trustees is responsible for the professional, legal and financial governance of the charity, the formulation and implementation of organisational strategy, and overseeing the implementation of the strategy through operating plans and budgets and monitoring progress within this. The Board is supported by four committees with delegated responsibility for key aspects of oversight and governance.

Management

The trustee delegates the management, implementation of strategy and overall leadership of the charity, through a defined scheme of delegation, to the Chief Executive and the senior management team.

The management of the organisation is structured into 4 regions; Scotland, North England, South England and Wales. These are supported from a central head office in Rotherham, South Yorkshire where central support functions are accommodated. During 2024, 58 staff were employed across the organisation.

Board of Trustees

Finance and General Purpose Committee

Audit and Risk Management Committee

Quality and Impact Committee

HR, Remuneration, and Recruitment Committee

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Policy

Policy criteria is agreed by the Board of Trustees and is reviewed on a cyclical basis in line with good practice.

Individual Grant Giving Policy

CISWO provides financial support to individual beneficiaries in the form of grants to meet specific needs, underpinned by the Individual Grant Giving Policy. Grants are available for former miners and their dependant families under specific eligibility criteria. The trustee delegates the responsibility for processing grant applications to the head office team with all awards authorised by the Chief Executive under criteria established through the policy.

The Individual Grant Giving Policy defines how the organisation focuses its financial support for those in greatest need. This includes a grant provision for former mineworkers who have been diagnosed with the coal industry related disease, pneumoconiosis.

Grant awards are discretionary within criteria established by the trustee. Grant opportunities are advertised through the organisation’s personal welfare service and through organisational literature, social media channels and the website. Applications can be submitted at any point in the year following an assessment by a member of the personal welfare team to determine eligibility and need. Grants are only considered within a wider package of intervention and are submitted by a member of the personal welfare team on the client’s behalf with their consent.

Education Grants Policy

Education grants are awarded in accordance with the organisation’s Educational Grants Policy which defines eligibility criteria and the application process.

Grants are provided to eligible students to support participation in higher education. Eligible applicants include those who were employed in the coal mining industry of Great Britain where they have completed the required length of service and dependant children of such former employees, where they are financially dependent on parents. Eligibility is based upon need with grants only being offered to those families where there is demonstrable low income.

Recreational Facilities Development Policy

CISWO is committed to supporting other mining charities to deliver services and to secure the ongoing availability of recreational facilities in local communities. This is facilitated by the provision of financial support through grants and loans within specific parameters. Our Recreational Facilities Development Policy provides the principles and specific parameters underlying this provision alongside defining the process required to ensure this support is delivered on a systematic, equitable, and rational basis. Facilities that could benefit under this policy are identified through our ongoing partnership working with miners’ welfare charities and are considered as part of a wider support package focused on sustainability to meet the needs of local communities.

Public Benefit

The trustee confirms that it has referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity’s aims and objectives and future activities. In particular, the trustee considers how activities contribute to meeting the objectives set in the organisation’s strategic plan. Particular focus has been given to interventions and policies that will deliver the greatest impact to those former mining families and communities most in need.

In delivering services we are aiming to provide clear evidence of how our intervention has benefited those we work with.

18-19 | Our Work and Impact 2024

Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Financial review

Review of the year

Our funds are used to provide services for former miners and mining communities in accordance with our strategic delivery plan and our charitable objectives. We provide the majority of our services to individuals and mining charities free of charge.

The principle source of income continues to be dividend and interest generated through the investment portfolio, with £1,080,289 being received in 2024 (2023: £1,111,822) representing 53% of total income.

Income is also generated through charitable and other trading activities totalling £682,022, being 33% of total income. These activities include, rentals received from the management of land and property, provision of support to regional trust funds, provision of some direct delivery services and a management charge to the charity’s trading subsidiary.

Additional income was received through the receipt of charitable asset transfers and other sundry sources totalling £280k, being 14% of total income.

Total expenditure on charitable activities in 2024 was £3,218,783 compared to £3,367,737 in 2023.

The main areas of expenditure were:

We work to a planned deficit budget, the deficit from activities (before investment returns and the revaluation of investment properties) was £1,297,965, this compares to a deficit of £1,208,994 in 2023. The investment portfolio increased in value in 2024 by £1,384,572 due to the improvement in the global investment markets following a turbulent two years. This performance has notably contributed to the overall financial result with the overall surplus for 2024 being £76,283 compared to a deficit of £1,407,300 in 2023.

The balance sheet as at 31 December 2024 shows the total funds of the charity were £34,505,795 (2023: £34,429,512), comprising £25,600,002 endowment funds, £8,854,533 unrestricted funds and £51,260 restricted funds.

Reserves

The unrestricted reserves of the charity, excluding the value of fixed assets and investment properties, stood at £7,151,995 as at 31 December 2024. As part of the consideration in determining the reserves policy the trustee takes into account the necessity to balance the needs of current and future beneficiaries.

We are committed to providing long term sustainable services and are heavily reliant upon our investment income to enable us to deliver these services. Adequate reserves are therefore maintained to provide the income requirements anticipated both in the short and long term. The reserves policy is reviewed annually and expenditure budgets are built around the strategic plan.

Fundraising

CISWO does not undertake any fundraising activity to generate income for the organisation, or engage with any commercial fundraiser to undertake this activity on our behalf.

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Managing Change and Risk

The major risks to which the charity is exposed are:

Controls have been identified to minimize and manage these and other risks. The Trustee continually assesses risk and any impacting factors. The Audit and Risk Management Committee formally reviews the strategic risk register on an annual basis. Investment performance is reviewed by the Finance and General Purpose Committee and monitored against agreed benchmarks. Our investment portfolio is managed by specialist charity investment advisors.

The Quality and Impact Committee provides scrutiny of our delivery of services for individuals, reviewing performance and capacity thereby reducing the risk around response to fluctuating demand.

Our annual delivery plan outlines actions taken to progress strategic goals, reported to the Board of Trustees at each meeting.

Investment Policy and Objectives

Our investments were managed by Rathbones Investment Management Limited until the end of 2024 and regularly reviewed by the Trustee and by the Finance and General Purpose Committee.

The primary objectives are to ensure that the funds maximise the longterm total returns within a medium level risk profile as well as meeting the drawdown requirements of the charity.

Performance of the investments is measured and compared against agreed benchmarks on a total return basis. In 2024 the investment portfolio performance was a return of 8.5%, compared to the benchmark of a return of 11.9%. This was due to a number of factors in both the asset allocation within the portfolio, and challenges from the US and UK markets.

In accordance with our governance and charity best practice and recognising the need to ensure our investments are managed to achieve the charity’s strategic plans, a review of advisors was undertaken during 2024. Following a robust selection process, Sarasin & Partners were appointed in December 2024.

Going concern

The Trustee has prepared the financial statements on a going concern basis after taking into account future budgets and cash forecasts covering a period of at least twelve months from the date of this report.

The Trustee does not believe that there are any material uncertainties which cast significant doubt on the ability of the charity to continue as a going concern.

22-23 | Our Work and Impact 2024

Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Trustee’s responsibilities statement

Trustee’s responsibilities statement

The Trustee is responsible for preparing the Trustee’s report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England, Wales and Scotland requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustee is required to:

The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), applicable accounting regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee is responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Saffery LLP have expressed their willingness to continue in office.

ON BEHALF OF THE TRUSTEE

The Very Reverend R G Cooper Chair of Trustees 9 June 2025

24-25 | Our Work and Impact 2024

Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Independent auditor’s report to the Trustee of Coal Industry Social Welfare Organisation

Opinion

We have audited the financial statements of Coal Industry Social Welfare Organisation for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including 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 Trustee’s 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 charity’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 Trustee with respect to going concern are described in the relevant sections of this report.

Other information

The Trustee is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in respect of which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

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Responsibilities of Trustee

As explained more fully in the Trustee’s Responsibilities Statement set out on page 25, the trustee is 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 trustee determines 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 trustee is responsible for assessing the charity’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 trustee either intends to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Charities Act 2011 and the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.

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 auditors’ 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustee, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with the trustee and updating our understanding of the sector in which the charity operates.

Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities (Accounts and Reports) Regulations 2008, the Charities Accounts (Scotland) Regulations 2006 (as amended) and guidance issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator.

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Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Independent auditor’s report to the Trustee of Coal Industry Social Welfare Organisation

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the

financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditors responsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the trustee 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 charity and the trustee as a body, for our audit work, for this report, or for the opinions we have formed.

16 June 2025

Saffery LLP Statutory Auditor, Chartered Accountants 10 Wellington Place Leeds LS1 4AP

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Financial statements

Statement of financial activities

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Unrestricted Endowment Restricted Total Total
Funds Funds Funds 2024 2023
Note £ £ £ £ £
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Income from:
Donations and legacies 6 3,019 - - 3,019 16,699
Charitable activities 7 525,134 - 11,050 536,184 515,280
Other Trading activities 8 145,838 - - 145,838 138,893
Investment income 1,080,289 - - 1,080,289 1,111,822
Other income 9 278,947 - - 278,947 502,674
Total income 2,033,227 - 11,050 2,044,277 2,285.368
Expenditure on:
Investment Managers fees 11 123,459 - - 123,459 126,625
Charitable activities 12 3,157,454 - 61,329 3,218,783 3,367,737
Total expenditure 3,280,913 - 61,329 3,342,242 3,494,362
Net (expenditure) before (1,247,686) - (50,279) (1,297,965) (1,208,994)
investment gain/(loss)
Net gain/(loss) on investments 17 1,384,572 - - 1,384,572 (9,506)
Net income/(expenditure) 136,886 (50,279) 86,607 (1,218,500)
carried forward
Transfers between funds 13 (1,136,873) 1,136,873 - - -
Net movement in funds (999,987) 1,136,873 (50,279) 86,607 (1,218,500)
before revaluations
Losses on revaluation of 14 (10,324) - - (10,324) (188,800)
investment properties
Net movement in funds (1,010,311) 1,136,873 (50,279) 76,283 (1,407,300)
Reconciliation of funds:
Balances brought forward		 9,864,844 24,463,129 101,539 34,429,512 35,836,812
Fund balances carried forward 23 8,854,533 25,600,002 51,260 34,505,795 34,429,512

All of the activities of the charity are classed as continuing.

The accompanying accounting policies and notes on pages 33 - 47 form part of these financial statements.

The statement of financial activities includes all gains and losses recognised during the year.

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Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Financial statements

Balance Sheet:

Note 2024
£
£		 2023
£
£
Fixed assets
Tangible assets 15 752,346 801,859
Investment Properties 16 1,275,662 1,210,769
Investments 17 27,767,398 30,549,952
29,795,406 32,562,580
Current assets
Stocks 1,236 1,258
Debtors: due within one year 19 277,166 270,854
Debtors: due after one year 19 35,984 41,984
Current asset investments 18 25,000 40,000
Cash at bank and in hand 20 4,741,813 1,993,988
5,081,199 2,348,084
Creditors: amounts fallingdue within oneyear 21 (370,810) (481,152)
Net current assets 4,710,389 1,866,932
Net assets 34,505,795 34,429,512
Funds
Unrestricted funds 23 8,854,533 9,864,844
Endowment funds 23 25,600,002 24,463,129
Restricted funds 23 51,260 101,539
34,505,795 34,429,512

The financial statements were approved and authorised for issue by the Board of Trustees on 9 June 2025.

The Very Reverend R G Cooper Chair of Trustees Charity numbers: 1015581 SC039529

The accompanying accounting policies and notes on pages 33 - 47 form part of these financial statements.

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Notes to the financial statements:

1. Charity information

The charity is constituted under a supplemental trust deed, and is a registered charity, number 1015581. In addition, the charity is also registered as a charity in Scotland, registered number SC039529. The charity constitutes a public benefit entity.

The registered office is The Old Rectory, Rectory Drive, Whiston, Rotherham, S60 4JG.

2. Basis of preparation

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards including 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 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act). The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for investment properties and certain financial instruments as specified in the accounting policies below.

The financial statements are presented in Sterling (£).

Preparation of accounts - going concern basis

The principal financial risk facing the charity is its ability to generate sufficient income to cover expenditure incurred in fulfilling the objectives of the charity.

The financial statements have been prepared on a going concern basis after taking into account future budgets and cash forecasts covering a period of at least twelve months from the date of this report.

The trustee, having reviewed cashflow forecasts to June 2026 does not believe that there are any material uncertainties which cast significant doubt on the ability of the charity to continue as a going concern.

Cashflow statement

The charity has taken advantage of the exemption from publishing a statement of cash flows set out in paragraph 1.12(b) of FRS 102 as it is a member of a group preparing consolidated accounts.

3. Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates.

Consideration has been given to the appropriate accounting treatment and valuation of the investment properties which are recognised on the balance sheet.

The accounting treatment adopted is based on the current use of each property and its classification under the organisation’s asset management policy. The policy defines the principal reason for the retention of property as securing the provision of recreational facilities where they are needed and utilised. Each property is categorised under the following:-

a) Properties not in or with any prospect of being in recreational use, therefore being retained for future capital appreciation.

b) Properties not in recreational use leased to third parties on a commercial basis.

Property leased for recreational use, largely on long term peppercorn rentals.

Property no longer needed or utilised for recreational purposes, where a decision has been made to dispose of the property.

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Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Financial statements

4. Principal accounting policies

Fund accounting

The charity’s funds are detailed in note 23 are as follows:

Endowment funds

The Endowment Fund comprises the core reserve of the charity, which is invested to provide income used to deliver the charity’s objectives.

The Permanent Endowment Fund represents fixed assets that cannot be realised for revenue purposes.

The King’s Silver Jubilee and Coronation Cottages Permanent Endowment Fund represents the properties transferred into the King’s Silver Jubilee and Coronation Cottages trust together with any proceeds received on subsequent disposals.

None of the capital of the endowment funds can be utilised without the consent of the Charity Commission.

Restricted funds

Restricted funds represent grants and donations received which are given by the donor for specific purposes.

Unrestricted funds

The Unrestricted Fund represents income which is expendable at the absolute discretion of the trustee to deliver the objects of the charity.

Income

All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is probable assurance of receipt.

Donations

Donations are recognised as income when they are received.

Investment income

Investment income is accounted for when receivable.

Charitable expenditure

Charitable expenditure includes all expenditure directly related to the objects of the charity.

Investment Manager Fees

Fees comprise costs attributable to managing the investment portfolio and raising investment income.

Operating leases

Operating lease rentals are charged to the statement of financial activities in equal amounts over the lease term.

Grants payable

Grants payable are payments made to third parties in the furtherance of the charities objects.

Grants to personal individuals are recognised once the grant has been approved and communicated to the recipient.

Grants awarded under the recreational facilities development policy are recognised when the grant has been approved, communicated to the recipient and all performance conditions have been fulfilled.

Support costs

Support costs for direct service delivery are allocated to the related charitable activity

Support costs are recognised separately where they do not directly contribute to service delivery but are necessary to achieve the charity’s activities.

Governance, legal and audit costs

Governance costs are those associated with meeting the constitutional and statutory requirements of the charity, including audit fees.

Investments

Investments are stated at market value. Investment gains and losses are shown in the statement of financial activities.

Investment Properties

Investment properties are initially recognised at cost, then subsequently at fair value at the balance sheet date, where the fair value reflects the current use of the property. Where an investment property has been categorised as a social investment the property is recognised at cost less any impairment.

Tangible fixed assets and depreciation

Tangible assets are stated at cost, net of depreciation.

Depreciation is provided on a straight line basis to write off the cost of fixed assets over their estimated useful lives at the following rates:

Freehold property

3% - 10% per annum

Freehold property – King’s Silver Jubilee and Coronation Cottages The properties were transferred to the Trust at a nominal value of £1 each and are stated in the balance sheet at this value.

Furniture and equipment 10% per annum

Computers and related equipment 20% per annum

Motor vehicles - minibuses 25% per annum

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. No such loss has been identified.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Charitable Asset Transfers

Charitable asset transfers relate to residual proceeds received under the governing instrument of dissolved mining charities. Such income from these transfers is only recognised when received.

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Pension costs

The charity contributes to a defined contribution scheme for current employees who wish to participate in it.

The charity is also required to contribute to the Industry Wide Coal Staff Superannuation Scheme, a defined benefit scheme for the benefit of former employees. Payments are made in accordance with agreement made with the trustees of the pension scheme and charged to the statement of financial activities. The scheme is a multi employer defined benefit scheme, but is being accounted for as a defined contribution scheme as the employer is unable to identify its share of the underlying assets and liabilities in the scheme on a consistent and reasonable basis. The scheme closed to new entrants on 1 January 1995. There are no current employees in this scheme.

Taxation

The charity is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within categories covered by Part 11, Chapter 3, CTA 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes and as such has no liability to tax arises on its charitable activities.

Redundancy and termination payments

Any redundancy and termination payments and amounts in lieu of notice are charged or accrued as incurred.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities

Provisions are recognised when the charity has a present obligation (legal or constructive) as a result of a past event, it is probable that the charity will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, representing amortised cost, as follows:

Financial - Measurement on instrument initial recognition Cash - Cash held Debtors - Settlement amount Creditors - Settlement amount

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Financial statements

5. Net expenditure

Net expenditure is stated after charging: 2024 2023
£ £
Auditor’s remuneration – audit of the fnancial statements 20,100 19,400
Depreciation on tangible fxed assets 65,909 80,702
Net loss/(proft) on disposal of tangible fxed assets 1,565 (222,746)
Rentals under operating leases 57,457 56,517
6. Grants and donations
Grants and donations received during the year were as follows:
2024 2023
£ £
Othergrants and donations - unrestricted 3,019 16,699
7. Charitable Activities
2024 2023
£ £
Administrative support grants 57,960 55,200
Personal welfare services 16,785 14,410
Thornycroft day centre 178,232 155,877
Rental income from land andproperty 283,207 289,793
536,184 515,280

Included within rental income from land and property is £11,050 of restricted income (2023: £12,766).

8. Other Trading Activities

----- Start of picture text -----
2024 2023
£ £
Management charge to CISWO Trading - unrestricted 145,838 136,893
9. Other Income
2024 2023
£ £
(Loss)/Profit on sale of fixed assets (1,565) 222,746
Charitable asset transfers 276,337 265,467
Sundry income 4,175 14,461
278,947 502,674
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10. Trustees and employees

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2024 2023
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|||| |---|---|---| |£|£| |Wages and salaries|1,779,408|1,824,455| |Social security costs|138,993|157,455| |Pension contributions|175,877|174,012| |2,094,278|2,155,922| |Emoluments of employees over £60,000| |Number|Number| |£80,000 - £89,999|-|1| |£90,000 - £99,999|1|-| |£100,000 - £109,999|-|1| |£110,000 - £119,999|1|-| |The average number of employees during the year was:| |Community welfare services|11|10| |Personal welfare services|25|28| |Thornycroft Centre|12|12| |Management and administration|10|10| |58|60|

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No trustees (2023: none) were remunerated by the charity in the year. No expenses were reimbursed to the trustee in the year ended 31 December 2024 (2023: none).

The total remuneration cost of the key management personnel of the charity was £245,852 (2023:

£195,535), being the Chief Executive, Finance Director and newly appointed Business Development Director.

During the year there were no redundancy payments made. (2023: £14,588).

11. Investment Manager Fees

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2024 2023
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|||| |---|---|---| |£|£| |Investment Manager fees|123,459|126,625|

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Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Financial statements

12. Charitable Activities

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2024 2023
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As restated
£ £
Community welfare services and services to other charities 534,868 524,199
Services for individuals 1,028,371 1,223,959
Grants for individuals 164,881 211,912
Grants for groups 3,705 3,075
Recreational facilities grants 154,785 74,618
Thornycroft day centre 352,183 332,407
Land and property management 126,378 192,781
Costs in support of charitable activities 765,765 717,485
IWCSSS administration (see note 26) 35,261 35,985
Governance,legal and audit costs 52,586 51,316
3,218,783 3,367,737

Expenditure against restricted funds Relevant support costs have been included above is: services for allocated to the charitable activity individuals £40,675 (2023: £34,535), when the costs directly relate to that grants for individuals £11,059 (2023: activity. Remaining support costs £15,012) and land and property relate to buildings, infrastructure and management £9,595 (2023: £21,387). support staff.

The 2023 costs have been restated from the last financial report on this same basis. The 2023 costs have been restated from the last financial report on this same basis.

13. Transfers between funds

Transfer from Unrestricted to Endowment – Unitised Fund Investments

The investments of the Endowment Fund are held within a unitised fund. Each year the unitised fund

is analysed between unrestricted fund and endowment funds. The net asset value of the endowment fund is detailed below at the start and end of the year and the calculation of the transfer value is shown below:

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1 January 31 December
2024 2024
£ £
Unitised fund investments 23,915,137 25,052,010
Net value of investments in Endowment Fund 23,915,137 25,052,010
Movement of net asset value in year 1,136,873
Transfer value transferred to unrestricted fund 1,136,873
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14. Revaluation of Investment Properties

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2024 2023
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£ £
Increase/(decrease) in value of fxed asset investment properties 4,676 (178,800)
(Decrease)/increase in value of current asset investmentproperties (15,000) (10,000)
(10,324) (188,800)

Further details are provided in notes 16 and 18.

15. Tangible fixed assets

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Freehold Leasehold Furniture and Motor
property property equipment vehicles Total
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£ £ £ £ £
Cost
At 1 January 2024 1,282,494 13,655 437,761 57,000 1,790,910
Additions - - 17,001 - 17,001
Disposals - - (12,513) - (12,513)
At 31 December 2024 1,282,494 13,655 442,249 57,000 1,795,398
Depreciation
At 1 January 2024 594,373 2,731 334,947 57,000 989,051
Charge for the year 38,036 2,731 25,142 - 65,909
Disposals - - (11,908) - (11,908)
At 31 December 2024 632,409 5,462 348,181 57,000 1,043,052
Net book amount
At 31 December 2024 650,085 8,193 94,068 - 752,346
At 31 December 2023 688,121 10,924 102,814 - 801,859

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Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

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Financial statements

16. Investment properties

Investment
properties		 Social
investments		 Total
Cost
At 1 January 2024		 £
1,047,000		 £
163,769		 £
1,210,769
Additions - 60,217 60,217
Revaluation in theyear 4,676 - 4,676
At 31 December 2024 1,051,676 223,986 1,275,662

Investment properties represents 11 properties leased on commercial rentals to third parties (2023: 11) and a further 2 (2023: 2) which are not in recreational use and are retained for capital appreciation.

All properties have been valued based on open market value based on current use, by Fisher Hargreaves Proctor Ltd as at 31 December 2024.

Social investments are properties in long term recreational use. A total of 213 (2023:212) properties are held on this basis. As part of our commitment to support recreation an additional property was purchased at a site adjacent to an existing miners’ welfare charity. This site will be used by the miners’ welfare charity to enable them to increase their

charitable delivery. The organisation is committed to retaining properties for recreational use in the long term, as such they are considered not to have a capital value over and above any acquisition cost.

17. Investments and Investment gains and losses

Funds held by Investment Managers 2024
£		 2023
£
Investments listed on a stock exchange 27,767,398 29,845,887
Cash deposits held within the investmentportfolio - 704,065
Total investments 27,767,398 30,549,952
Quoted UK Stock Exchange Investments 2024
£		 2023
£
Market value at 1 January 29,845,887 30,372,768
Additions at cost 9,049,979 3,631,017
Disposal proceeds (12,533,017) (4,152,288)
Net investmentgain/(loss) 1,404,549 (5,610)
Market value at 31 December 2024 27,767,398 29,845,887
Historical cost at 31 December 2024 22,049,327 24,365,559

The difference between market value and historical costs is included within unrestricted funds and endowments.

----- Start of picture text -----
Net gain/(loss) on investments 2024 2023
£ £
Gain/(Loss) on quoted investments 1,404,549 (5,610)
Loss on foreign exchange (19,977) (3,896)
1,384,572 (9,506)
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18. Current Asset Investment Properties

Total
£
Cost
At 1 January 2024 40,000
Revaluation inyear (15,000)
At 31 December 2024 25,000

Current asset investments represents realised at best value in accordance 1 property (2023:1). The trustee with the Charities Act 2011 guidance. has determined that the continued The property was valued based holding of this property does on an open market value at 31 not align with the organisation’s December 2024 by Fisher Hargreaves objectives and the property will be Proctor Limited.

19. Debtors

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Due within one year: 2024 2023
£ £
Trade debtors 29,685 33,833
Amounts owed by group undertakings 99,779 100,120
Amounts due from Regional Trust and Convalescent Funds 14,857 27,123
Prepayments 106,845 95,879
Other debtors 26,000 13,899
277,166 270,854
2024 2023
Due after more than one year: £ £
Other debtors 35,984 41,984
35,984 41,984
Total debtors as at 31 December 2024 313,150 312,838
20. Cash at bank and in hand
2024 2023
£ £
Total cash and bank balances 4,741,813 1,993,988
----- End of picture text -----

40-41 | Our Work and Impact 2024

Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

Docusign Envelope ID: 2F03163D-3A3B-488E-8EAA-8669096F7942

Financial statements

21. Creditors: amounts falling due within one year

2024
£		 2023
As restated
£
Other creditors and accruals 317,792 270,787
Social security and other taxes 40,272 45,562
Holiday pay provision 12,746 28,136
Repaymentplan:pension liability (see note 24) - 136,667
370,810 481,152

In 2024 the holiday pay provision has been reclassified from provisions for liabilities and charges to creditors. Consequently the 2023 figures have been restated on the same basis.

22. Financial instruments

----- Start of picture text -----
2024 2023
Carrying amount of financial assets £ £
----- End of picture text -----

Measured at amortised cost
Trade debtors 31,660 33,833
Amounts owed by group undertakings 99,779 100,120
Amounts due from Regional Trust & Convalescence Funds 14,857 27,123
Miners’ welfare charities 61,984 46,984
208,280 208,060
Carrying amount of fnancial liabilities
Measured at amortised cost
Trade creditors 107,962 60,955
Other creditors 23,429 22,569
131,391 83,524

Docusign Envelope ID: 2F03163D-3A3B-488E-8EAA-8669096F7942

23. Analysis of net assets between funds

Year ended 31 December 2024

----- Start of picture text -----
Unrestricted Endowment Restricted Total Total
fund funds funds 2024 2023
£ £ £ £ £
----- End of picture text -----

Fixed assets
Tangible fxed assets 401,876 350,470 - 752,346 801,859
Investment properties 1,275,662 - - 1,275,662 1,210,769
Investments 2,698,556 25,052,010 16,832 27,767,398 30,549,952
4,376,094 25,402,480 16,832 29,795,406 32,562,580
Current assets
Stock 1,236 - - 1,236 1,258
Debtors 313,150 - - 313,150 312,838
Investment properties 25,000 - - 25,000 40,000
Cash 4,509,863 197,522 34,428 4,741,813 1,993,988
4,849,249 197,522 34,428 5,081,199 2,348,084
Current liabilities
Amounts falling due within one year (370,810) - - (370,810) (481,152)
Net current assets 4,478,439 197,522 34,428 4,710,389 1,866,932
Net assets 8,854,533 25,600,002 51,260 34,505,795 34,429,512

Endowment funds

----- Start of picture text -----
Endowment Permanent King’s Silver Jubilee Total Total
Fund Endowment and Coronation 2024 2023
Fund Cottages Permanent
Endowment Fund
----- End of picture text -----

£ £ £ £ £
Fixed assets
Tangible fxed assets - 350,464 6 350,470 350,470
Investments
Current assets		 25,052,010 - - 25,052,010 23,915,137
Cash at bank - - 197,522 197,522 197,522
At 31 December 2024 197,528 25,600,002 24,463,129

42-43 | Our Work and Impact 2024

Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

Docusign Envelope ID: 2F03163D-3A3B-488E-8EAA-8669096F7942

Financial statements

Restricted funds

King’s Silver Jubilee
and Coronation
Cottages Restricted
Fund
£		 Four
Collieries
Fund
£		 North
Derbyshire
NUM Fund
£		 Total
2024
£		 Total
2023
£
Current assets
Investments - - 16,832 16,832 68,971
Cash at bank (9,264) 43,692 - 34,428 32,568
At 31 December (9,264) 43,692 16,832 51,260 101,539

Unrestricted Fund

This is the core operational fund of the charity through which all its operational activity is delivered.

Endowment Fund

This is the core reserve of the charity, which is invested to provide income and used for delivery of the charity’s objectives.

Permanent Endowment Fund (Endowment Fund)

This fund is comprised solely of fixed assets that cannot be realised for revenue purposes.

King’s Silver Jubilee and Coronation Cottages Permanent Endowment Fund (Endowment Fund)

The Charity Commission Scheme which linked this charity to the organisation required the properties to be separately identified.

On 26 February 2025 the Trustee made a resolution under Section 282 of the Charities Act 2011 to amend the Charity Commission Scheme to allow for the permanent endowment fund to be freed from the restrictions with respect to the expenditure of capital. On 5 March 2025 the Charity Commission confirmed it concurred with the resolution and that the trustee can spend the capital as if it were income.

King’s Silver Jubilee and Coronation Cottages Restricted Fund (Restricted Fund)

This fund is to be applied in meeting the costs of administering and managing the King’s Silver Jubilee and Coronation Cottages properties. The deficit on this fund will be addressed following the removal of the restriction on the permanent endowment fund noted above. In 2024 the fund had income of £11,050 from the properties and incurred expenditure of £9,190 on maintenance.

Under a Charity Commission Scheme for England and Wales since 1 January 2010 the King’s Silver Jubilee and Coronation Cottages has been treated as forming part of the Coal Industry Social Welfare Organisation for the purposes of Part II (registration) and Part VI (accounting) of the Charities Act 1993.

The permanent endowment property of the King’s Silver Jubilee and Coronation Cottages is administered in accordance with its governing document.

Four Collieries Fund (Restricted Funds)

This fund was established by gift transfer from the United Collieries Benevolent Fund to be used for the relief of hardship in the East Midlands Coalfield. There were no movements on the fund in 2024.

North Derbyshire NUM Fund (Restricted Funds)

These funds were transferred to the organisation in 2015. The funds are to be used at the discretion of the trustee to benefit the mining communities of North Derbyshire. In 2024 expenditure totalling £52,139 was incurred on grants to individuals and staff resource from this fund.

Docusign Envelope ID: 2F03163D-3A3B-488E-8EAA-8669096F7942

Year ended 31 December 2023

----- Start of picture text -----
Unrestricted Endowment Restricted Total Total
funds funds funds 2023 2022
£ £ £ £ £
----- End of picture text -----

Fixed assets
Tangible fxed assets 451,389 350,470 - 801,859 955,346
Investment properties 1,210,769 - - 1,210,769 1,389,569
Investments 6,565,844 23,915,137 68,971 30,549,952 30,883,121
8,228,002 24,265,607 68,971 32,562,580 33,228,036
Current assets
Stock 1,258 - - 1,258 1,006
Debtors 312,838 - - 312,838 1,048,303
Current asset investment properties 40,000 - - 40,000 50,000
Cash 1,763,898 197,522 32,568 1,993,988 2,235,654
2,117,994 197,522 32,568 2,348,084 3,334,963
Current liabilities
Amounts falling due within one year (453,016) - - (453,016) (567,359)
Net current assets 1,664,978 197,522 32,568 1,895,068 2,767,604
Creditors: amounts falling due after - - - - (136,667)
more than one year
Provision for liabilities (28,136) - - (28,136) (22,161)
Net assets 9,864,844 24,463,129 101,539 34,429,512 35,836,812

Endowment funds

Endowment
Fund
£		 Permanent
Endowment
Fund
£		 King’s Silver Jubilee
and Coronation
Cottages Permanent
Endowment Fund
£		 Total
2023
£		 Total
2022
£
Fixed assets
Tangible fxed assets - 350,464 6 350,470 350,470
Investments
Current assets		 23,915,137 - - 23,915,137 24,011,568
Cash at bank - - 197,522 197,522 197,522
At 31 December 2023 23,915,137 350,464 197,528 24,463,129 24,559,560

44-45 | Our Work and Impact 2024

Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

Docusign Envelope ID: 2F03163D-3A3B-488E-8EAA-8669096F7942

Financial statements

Restricted Funds

King’s Silver Jubilee and
Coronation
Cottages Restricted Fund
£		 Four
Collieries
Fund
£		 North
Derbyshire
NUM Fund
£		 Total
2023
£		 Total
2022
£
Current assets
Investments - - 68,971 68,971 118,965
Cash at bank (11,124) 43,692 - 32,568 40,742
At 31 December (11,124) 43,692 68,971 101,539 159,707

24. Pension schemes

Defined Contribution Scheme The charity contributes to defined contribution scheme on behalf of current employees. Contributions made to this scheme on behalf of employees was £175,877 (2023: £174,012).

Industry Wide Coal Staff Superannuation Scheme

The charity is required to contribute to the Industry Wide Coal Staff Superannuation Scheme (IWCSSS), a defined benefit scheme for the benefit of 59 former employees. The assets of the scheme are administered by pension scheme trustees in a fund independent from that of the charity. The scheme was closed to new entrants on 1 January 1995. There are no current employees in this scheme.

The charity is required to contribute annually to the administration cost of the scheme. The cost for the year for the administration of this scheme was £35,261 (2023: £35,985).

The last actuarial valuation was undertaken as at 31 December 2021 and the resulting repayment plan required the organisation to pay deficit contributions of £27,333 per month from 1 April 2023 to 31 May 2024.

Post balance sheet event

The charity is required to meet any future deficits arising on the Industry Wide Coal Staff Superannuation Scheme and to contribute to future administration costs for the life of the scheme. Following the year end, the charity has made the decision, along with the Trustees of the IWCSSS, to transfer the risk

associated with funding the future pension obligations to an insurance company, thus removing the uncertainty arising from the potential future liabilities whilst securing the pensions of those former employees. As the sponsoring employer, CISWO was required to make an initial payment to the IWCSSS of £1,500,000 equating to the current deficit on the scheme, as valued by the scheme’s actuaries. This amount was paid in April 2025.

Docusign Envelope ID: 2F03163D-3A3B-488E-8EAA-8669096F7942

25. Related party transactions

The Trustee, The Coal Industry Social Welfare Organisation 2014 (CISWO 2014), is also the sole member of CISWO Trading Limited.

During the year ended 31 December 2024:

The charity charged CISWO Trading Limited a management charge of £145,838 (2022: £138,893) for provision of staff and administrative

support. At 31 December 2024, CISWO Trading owed the charity £87,503 (2023: £88,878).

The charity incurred costs of £1,034 (2023: £15,813) on behalf of the trustee, CISWO 2014 in relation to its administration. At 31 December 2024, CISWO 2014 owed £12,127 (2023: £11,093) to the charity.

In addition, CISWO received a grant of £69,182 (2023: £67,167) from the Yorkshire Miners Welfare Trust Fund (charity no 516535), 1 of the Trustees of that Fund is also a Trustee of CISWO 2014.

26. Operating lease commitments

The total lease commitments under non-cancellable operating leases is as follows:

Land and
Buildings
2024
£		 Other
2024
£		 Land and
Buildings
2023
£		 Other
2023
£
In less than one year 18,750 24,256 18,750 33,544
Between two and fveyears 34,375 14,901 53,125 37,277
53,125 39,157 71,875 70,821

27. Contingent liabilities and capital commitments

There were no contingent liabilities or capital commitments as at 31 December 2024 (2023: £Nil).

28. Controlling related party

The Coal Industry Social Welfare Organisation 2014 (charity no. 1160157 and Company no. 09113084) is the sole corporate trustee and the controlling party of the Coal Industry Social Welfare Organisation.

may be obtained from the charity at The Old Rectory, Rectory Drive, Whiston, Rotherham, S60 4JG.

Copies of the parent charity’s consolidated financial statements

46-47 | Our Work and Impact 2024

Coal Industry Social Welfare Organisation Annual Report and Accounts for the year ended 31 December 2024

Docusign Envelope ID: 2F03163D-3A3B-488E-8EAA-8669096F7942

Legal and administrative details

Charity registration number: 1015581

Scottish charity registration number: SC039529

Registered office: The Old Rectory, Rectory Drive, Whiston, ROTHERHAM S60 4JG

Website:

Trustee:

Secretary:

Bankers:

Solicitors:

Investment manager:

Auditor:

www.ciswo.org.uk

The Coal Industry Social Welfare Organisation 2014

N M Didlock

Lloyds Bank PLC 1 High Street SHEFFIELD S1 2GA

Shakespeare Martineau Waterfront House Waterfront Plaza NOTTINGHAM NG2 3DQ

Rathbones Group Plc 30 Gresham Street LONDON EC2V 7QN

Saffery LLP 10 Wellington Place LEEDS LS1 4AP

Irwin Mitchell 2 Millsands Riverside East SHEFFIELD S3 8DT

Sarasin and Partners LLP Juxton House 100 St Paul’s Churchyard LONDON EC4M 8BU