Coventry Building Society Charitable Foundation (a company limited by guarantee) Trustees, Annual Report & Financial Statements 31 December 2024 Registered number 03662832 Registered Charity number1072244
Coventry Building &)ciety Charitable Foundation Trustees, Annual Report and Financial Statements r the year ended 31 December 2024 CONTENTS TRUST INFORMATlCh TRUSTEES, ANNUAL REPORT TRUSTEES, RESPONSIBILITIES STATEMENT INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COVENTRY BUILDING s(fETy CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES 10 BALANCE SHEET 11 STATEMENT OF CASH FLOWS 12 NOTES TO THE FINANCIAL STATEMENTS 13
Covenlry Building Society Charitable Foundation Trustees, Annual Report and Financial Slalements for Ihe year ended 31 December 2024 TRUST INFORMATION Company number 03662832 Charlty numbèr 1072244 Trustees Mallhew Mannings Tina Jones Kevin Purvey Se¢retary Gurdeep Boparai Registered office Coventy House Harry Weston Ro1 Binley Coventy CV3 2TQ Independent audltori Pricewalerhtyjsecoopets LLP One Chamterfain Square Biminghan 83 3AX Bankers Covenlry Building s'elY Coventry House Harry Weslon Road Binley Covenlry CV3 2TQ
Coventry Building Soctely Charitable Foundal&)n Trustees, Annua Report and Financial Statements for the year ended 31 December 2024 TRUSTEES, ANNUAL REPORT The Trustees, who act as Direclors lor the purposes ol mPanY law, have pleasure in presenting Ihe Truslees, Annual Report together wlh the audited financial statements for Ihe year ended 31 Dember 2024. The financial slalements have been prepared in ardance vAth the accounting pcsliues sel oul in nole110 the financial slalemenls and comply th the Charity's Irusl deed, Ihe Charities Acl 2022 and Accounting and Reporting by Chariiies.. Statement of ReLx)mmend&Y Practi applicable lo charibes preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS1021. The Trustees do not proplxe lo prepate a syale strategic repotl as the Chaiity is exempl from this requirement under $4148 of the Cwpanies Act 2(Kl6. REFERENCE AND ADMINISTRATIVE DETAILS The principal •Jdress and registered office of Covenlry Building Society Charitth Foundation (the'charily'l is Coventry House, Harry Weslon Ro&J. Binley, Coventry. Wesl Midlands. CV3 2TQ. Its regisiralion number i8 1072244. The Charily Tiuslees, who ad as Directors for the purposes of company law. are detailed on page 2, STRUCTURE, GOVERNANCE AND MANAGEMENT The Charily was incorwraled in November1998 as a charitable t>)mpany, linmled by guarantee and has no share capital.11 is Vemed by its mer(JM and artS ol association. The Truslees have given due consideralKJn to Charily Commission published guidano on Ihe OFration ol the public benelil requirement. The Tiuslees have the p0Er lo invest money in ways deemed approwiale and in the best interests ol the Charity. However. no such investments have been male in either th8 ¢)Jrrent or prior year, There are no employees of the Charity. The expenses of the Charity are IK)me by Coventry Building Sociely Ilhe 'Society'l and the Trustees do not receNe remuneratM)n for their SeiceS (2023.. £nill. The Charity receives lunding onward disIn'trkn'O from three m?An sources. Firstly, directly from the Society there is an annual donation as 11 as funding frorn affinity savings accounls. Secondly, there are donations on behalf ol Society employees in the form ol Pennies from Heaven, where monthly payroll amounts are rounded down, with the pennies paid directly lo the Charity. Finally, there is other funding from the So¢iely's savings members in the form ol dormant accounts. The Society's annual donation and Pennies Irom Heaven are dislribuled onwards by the Heart of England Communily Foundaiion. Ihe funding from affinity a¢niS and domant accounts donations distrilyjled directly by th8 Charity. In addition to the annual dOnatn Irom the Soaety, the adminislralive expenses of Ihe Charity are borne by the Society. The Sociely also prowdes secretarial and adminislralive SUPFK)rt. use of fa¢ililies and lime of ils employees lo assist the Trustees lor which no charge is made. Trustees Matthew Mannings and Kevin Purvey are current employees of the Society. TRUSTEES APPOINTMENT Nominations f¢y appointment as a Trustee are made based on suitability by either the Smty or the current Trusiees. Followng appoinlmenL training is given on the o14eGtives, al¥ltieS and govemance of Ihe Charity. Trustees are appointed lo hold office for no mote Ihan seven years in aggregate. COMPOSITION OF THE TRUSTEES There have been no changes to the ccffiposilion of the Trustees during the year to 31 Dember 2024 through to the dale of signing the financial staternenls.
Covenlry Budding Society Charitable Foundalion Trustees. Annua Report and Financial Slalements for Ihe year ended 31 December 2024 TRUSTEES, ANNUAL REPORT (CONTINUED) OBJECTIVES AND ACTIVITIES The objective ol Ihe Charity is to provide a ¥ehide through wthich the &taely can womote and support ccffimunity and charitable wrposes IhrnughI the Coventry & Warvthhire area. Heart of England Communfy Foundatn Heart of England Communiiy Foundation is a registered chafity that provides independent grants in the West Midlands and Watwickshife. Tho funds ouuined below recÉived by the Charity are given lo the Hearl of England Cornmunity Foundation for onward dislribulion. As al 31 December 2024, £28,853 {2023- £9,170) of funds have been awarded to, bul remain undislribuled by the Heart of England Cofflmunity Foundation. This wll be distributed in 2025. Coventry Building Sociely makès a donati¢M of£70,IK)O per annum to the Charity. The Charity also receNes donations from Coventy Building Socievs Pennies from Heaven scheme. The scheme allows the monthly salary ol all Soriely employees. who have not opted out, lo te Tounded down lo the nea$1 pound, with the remainder being donated lo the Charity lo suppjrt Ihe Society's social purposes wojects. In 2024 these donations lolal £13.064 {2023- £12,757). Olher so&ty-11nked don8tins The Soaely has an aifinily product offering linked lo the Charity, with the (3ety mak9 a donation equivalenl lo 1% ol total average balances. This'Better Together savings product has generated receipts of £274,18112023'. £216,463) for the Charity in 2024, thich has tEen distributed lo Centrewinl's Coventry Hub, the chosen charity. Cenlrepoint was announced in 2023 as the Society's corporate charily and is the UK'S leading youth homelessness charity ReGeipls are also received by the Charity from the knietls saving5 members Ihrough Ihe &Jaety's dormant acLDunls scheme. A lolal of£121,982 was received in resFeci of this scheme during ihe year {2023.. £nill. These donatlon routes distribution thannels are exwted to continue inio the future, no plans from the Society lo slop any ol this funding. This is rellecled within the Charity's Framewth Agreement with the Soc4ely lo ensure appropriate governance and controis remain in Fla and operale eflectively. All awards are identified as Charity funthng %then 9ranld. The Charity is fesponsible for using these funds to provide grants lo support the social purwse work in line with ils objeclives. Priority is given lo groups or adiviliès aimed at improving the quality ol life and opportunity among those who are disadvantaged by disabilily or olher fa¢lors and al creating and supporting social and cornmunily development. As such, the monies receNed have been used lo fund pro5ecls for a number of strategic community partners with the intention of the Charity supporting longer-term partnerships. This enables the Charity lo have a grealer impact, rather than providing one-off funding. The donations 11 be distributed directly by the Charily with oversight and approval for dislributs'ons carried out by Ihe Trustees in accordance wilh due diligence and monitoring Prsses. As al 31 December 2024, a totsl 01 £18,146 (2023.. £72,775) remains undislrlouled by Ihe Charity. These monies are considered by the Charity lo be a wholly charilable donation wilh no recourse. Monies r&ceived in the year bul undislribuled are reLxxJnised as donation iKotre in the fmancial slalements lor the year ended 31 Dember 2024. The Trustees have examined the mail strategic, sInesS and operational risks Charity faces. The FyinPIe r(sks and uncertainli8s are.. Ihe risk ol insufflent funds being availaLle lor dislribubon,. the operational risk ol th8 misappropriation ol funds. and the reputational risk of inappropriate donalK)ns being made or donabons being Made lo a charity Ihal does nol meet the criteria The Trustees are satisfied Ihal systems are in pla to mitigate any exposure lo any such risks. The adminislralive expenses of the ChaTly, including the a(kninistr*ion fees and annual managemenl fee Charged by Ihe Heart of England Community Foundaiton 01 £8,61712023= £8,189), are borne by the Society. ACHIEVEMENTS & PERFORMANCE The main achievemenls of Ihe Charity are lo provide donal(ons to the He1 of England Community Foundation lor distribution and the issue of direct chariLible distributsons.
Coventy Buikling kniety Chwitable Foundation Tnjslees. Annua Report and Financial Slalements for the year ended 31 December 2024 TRUSTEES, ANNUAL REPORT (CONTINUED) ACHIEVEMENTS & PERFORMANCE (CONTINUED The Charrty rnakes regular donations frc4n its funds lo a number of sdecaed I(al charities and communily groups, induding Ihe Cenlrepoinl Coventy hub. with an emFthasis on Slfppottng: y(MJng people, partiGularty those are disadvant&Jed,' vulnerable groups such as the frail elderfy, pewe Mlh Ysica disatdlilj'es, learning diffillIeS and those who are living Vh a rnenlal health issue., and small neighbourh(xxl groups in areas where they are experienong the greatest disadvantage. Please refer lo the Objectives and Acim'tses secti)n further infonnation. GOING CONCERN The Charity is funded by donations from Ihe SOClY, its members {Ihrough dormant savings accounts) and Society efflployees. The Charity itself does not require funding as the Society provides, and w711 continue lo provide, facilities and lime of personnel. Therefore, Ihere are no material uncertainties abjul the Charily's ability lo conlinue as a going concern for the foreseeable future. FINANCIAL REVIEW In line with the Charity's objeclives, Ihecharily has rec£ived lolal income 01£483,91912023.' £303,862}. Afterdonalions and expenses, the nel expenditure for the year amunled to £54.83212023.' £170,993). The Mulated funds available for future distribution are £21.72312023: £76,555) as al 310ecember 2024. Al funds al the end ol the reports'ng period are unreslricted. The Trustees h8ve the pow8r lo invest money in shares, sl(Kks, funds, securilies, land, buildings or other nveslmenls or property, as they Ihink h'l. However, no such inveslmenls have been made in eilher the current or prior year. Funds awaiting disliibuiion are held on sh¢)rt temi deposil.11 is not Ihe inlenlion ol ihe Trustees. in ihe long term. lo create and hold undislribuled reseNes. PLANS FOR FUTURE PERIODS The Charily plans to continue lo operate wth ils current aims and objects'ves in futu perths, and fund ils charitable donations through ongoing funding streatns. FUNDS HELD AS CUSTODIAN FOR FUTURE PERIODS Neither the Chaiity nor the Trustees on ils behalf kIS any a5sels for anher charily. INFORMATION FOR AUDITORS The Trustees who held Offi al the dale of approval ol Ihis Tnjstees, Report confinn Ihal, so far as each of them is aware, there is no relevant aLEdrt infomialion of which the Charity's auditors is unaware, and each Trustee has taken all the sleps Ihal Ihey oughl lo have taken as Trustees lo make theMseeS aware ol any relevant information and lo establish Ihal the Charity's auditors are awaie of thal inlomation. INDEPENDENT AUDITORS Pricewaterhousecoopers LLP has indicated Èis willingness to remain in offtce. Therefore, a resolut¢on for the re- appointment ol Pricewatethouseccws LLP as auditors of the Charity thill be proposed al the forthcoming Annltal Trustees. Meeling. Signed on behalf of Ihe Trustees Matthew Mannings Trustee 20 May 2025
Coventy &Jilding Society Charilatle F(HJndalion Tiuslees, Annual Report and Financial Slalemenls for the year ended 31 December 2024 TRUSTEES, RESPONSIBILITIES STATEMENT The Iruslees (who are a150 direcl(Ks ol Coventry Building Society arItable Foundation for the purposes ol company lawl are responsible for pieparing the Tnjslees, Annual Report and the financial slalements in accordan wlh applÉcable law and regulation. Company law requifes the ttuslees lo prepare finCIal slalements for each financial yeaT. Under that law the Iruslees have prepared the financial statements in accordance wlh United lfjngdom Accounting Standards, comwising FRS102'The Finanaal Reporting Standard apph'cabie in the UK and Republic of Ireland. and applicable law (United lfjngdom Generally Accepted Accounting Practice). Under company law the truslees musl not approve the financial slalemenls unless they are Satisfi Ihal they give a true and fair view of the slate ol the alfairs of e charitable company and ol the incoming resources and wlicalion of resources, induding the income and expenditure, ol the charitable company for that period. In preparing these finan slalements, the tfuslees are required lo.. select suitable accounting policies and then apply Ihem consislenlly., obseNe the methods and principles in lh6 Sialemenl ol Recommended Practice: Accounlffig and Repottng by Charilies120191- rnake judgments and estimales thal are reasonabLe and prud1., stale Ythelher applicable UK Accounting Standards, comprising FRS102, have been followed, subject lo any material departures disclosed and eXained in the financial slalements,. and prepare the financial slaternenis on the going concern basis untess il is inappropriate lo presume that the Ghaiilable company will continue in business. The Iruslees are responsible for keeping adequale acwjnling [S that ale sulfiaenl lo show and explain the charitable company's transactions and disclose wlh reasonable accuracy at any lime the financial position ol the charitable company and enable them to ensure Ihal ihe financial slalements comply wlh the Companies Acl 2006. They are also responsible for saleguarding Ihe assets ol the charitable company hence lor taking reasonable steps lor the prevention and detection ol fraud and other irregularities. Legislation in the United 5fjngdom governing the preparalton and disseminalin of financial slatsmenls may cfiffer Irom legislation in olhef jurisdid&
)venty Building Society Charilable F¢)undation Tiuslees, Annual Report and FinancÉal Stalemenls for the yew ended 31 De(kmber 2024 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF COVENTRY BUILDING SOCIETY CHARITABLE FOUNDATION Report on the audlt of the financial statements Opinlon In our opinion. Coventry Building &xiely Charitable Foundalion's finanaa statements (the nanCIal slalemenls.).. give a true and fair vrew ol ihe stale of the charitable company's affairs as at 31 December 2024 and of ils incoming resources and applicati( ol resous. induding ils income and expenditure, and cash flows 1¢ the year then ended., have been properfy prepaied in accordan with United lfjngdom Generally Accepted Accounting Practice (United Kingdom A¢Lounling Standards, induding FRS102"The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland., and appIAble lawl- and have en prepared in acCdaftce wlh the requirements of the Companies Act 2006. We have audited the linancial slalemenls, widuded wilhin the Trustees, Annual Report and Financial Slalemenls Ilhe 'Annual Report,), which c(¥nprise: the balance sheet as al 31 Oecember 2024., the stalemenl ol linancial aclivities {incorporaling an incorne and expenditure account), and the slalemenl ol cashflows lor the year then ended and Ihe notes to the financial sialements. which indude a description of significanl alxounling policies. Basis for Oplnlon We conducted our audit in accordance wlh Inlemalional Standards on Auditing {UK) flSAs {UK)'18nd applicable law. Our respollsibililies under ISAS (UK) are lurther described in the Auditors, responsibilities lor the audit of tlie linanoal slalernenls section ol our rewrt. We believe that the audit OVIden have obtained is sUfficnI and appropriate to provide a basis for our opinion. Independ8nc8 We remained indeFendenl of the CharItae company in 8cctydan the ethical requirements Ihal are relevant lo our audit of the financial slaternenls in the UK, which includes the FRC'S Ethica Standard and we have fulfilled our other ethical responsibilibes in accordance wth Ihese requiTemenis. Conclusions relatlng to going concern Based on the worti we have performed, we have not identified any maerial UnrtnI1 relating lo events OF condilions Ihat, individually or collectively, may cast signilicanl doubl on the charilalAe company's abilily lo continue as a going concern for a period of al leasl iwelve months Ir[ the dalè on vthich the finanaal slalernenls are attlhorised lor issue. In auditing the financial slalernenls, we have rMduded that the Injslees. use of the going nCeM basis ol accounting in the weparation of Ihe finan(ial slalements is appropriate. However, because not all future events or condilions can be predicled, Ihis condusion is nol a 9uarantee as to Ihe charitable company's ability lo i))ntinue as a goir4J o)ncem. Our responsibilities and the reswnsibilibes of the Injstees vilh respect lo gK)ing concern are (fescr¢bed n the relevant sections ol this report. Reportlng on other Informatlon The olher information comprises all ol Ihe inforrnalion in Ihe Annual RetK)rt (Aher than the finan(xal slatemenls and our auditors, report Ihereon. The Imstees a responsible for the other infomialion. Cmjr opinion on the finan¢ieA slalemenls does not cover the olher inforrnalion and, &cordingly. we do not express an audit opinK)n or, except to the exlenl otherwise explicitly slated in this port. any foim of assurance Ihereon.
Coventry Buikling Society Charilable Fovndation Trustees, Annual Report and Financial Slalemenls for the year ended 310ecember 2024 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF COVENTRY BUILDING SOCIETY CHARITABLE FOUNDATION (CONTINUED) In connection with our audit of the financial slatemen respmsh'lity is lo read the other information d, in doing so, consider whether the other inlomialion is maleiialty inconsislenl with Ihe financial statements or our knowledge oblained in the audrt, or othenyise appears lo be matlalIY missialed. If we identify an apparent material inconsistency or material misslalemenl, we are required to perfom prOdureS lo conclude wheiher there is a rnalerial misstslemenl of the finCial slalements or a material misslatemenl of Ihe other infotmation. If, based on the work we have performed, we conclude that there is a material misstalemenl of this olher information, we are required tr) report that facL We have nothing lo report based on these responsibtlilies. With respect lo the Trusle&s' Annual Report, we 81so <x)nsidered whether the disch)sures required by the UK Compani85 Act 2006 and Charities Act 2011 have t) induded. Based on our work undertaken in Ihe course of the audil, the CompleS Ad 2006 requires us also lo report certain opinions and matter5 as desL¥ibed below. Truslees'Annu81 R8POrt In our opinion, based on the work undertaken in the course of the audit the inlomiation given in the Trus168s' Annual RepDrl for the period ended 31 Decembei 2024 is ¢))nststenl with the finatKial slatements and has been prepared in accordance with applicable legal requirernenls. In light of the knowledge and understanding ol the charitable company and ils environment obtained in the course of the audit, we did not idenlify any malerial mi&8laiemenls in the Truslees, Annua Report, Responsibilities for the flnanclal statement3 and the audit Responsibilmies of lh8 Irus18es for the linanua1slalennlS As explained me fully in the Trustees, Responsibilities Stslement, the Iwstees (who are also the directors of the ¢hari18ble company loi the purposes ol company lawl are responsible for the preparation of the financial slalemenls in accordan wilh the applicable fraMek and lor being sa11sfd ihal Ihey give a true and lair view. The INslee5 are also responsib for such intemal control as they determine is necessary lo enable the preparalion ol linanLial slalemenls Ihal are free from rnaleria misstslemenl, wtheth8r due lo frd or error. In preparing the financaal slalemenls, the Inislees are re¥n$te for assessing the charitable cfjmpany's ability lo continue as a going concern, disclosing, as applicable, mallers reiaed lo going cOrM and using the going ncern basis ol accounting unless the Injslees either intend to liquidate the tharilable company or to cease op&ralions, or have no realiskn'c allemalive but lo do so. Audilots, responsibilit18s for Ihe audil of the Thnanci8lst8lemenls Our objeclives are lo obtain reasonable assurance about whether the finanaal slatemenls as a whole are free from rnalerial misstslemenl, whether due lo traud or error, and lo Éssue an audilors, report Ihat includes our opinion. Reasonable assurance is a high level ol assurance, tt is nol a guarantee thal an audit conducted in accordance with ISAS IUKI will always delecl a material misstalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if, indimdually or in the aggregale, they ujuld reasonably be eXted lo influence the economic decisions of users taken on the basis ol these linancial statements. Irregularities, including fraud, are instances of non-complian wlh laws and regulalions. We design procedures in line wlh our responsibililies, outlined above, to delect material mis51alements lli respecl ol irregularities, induding fraud. The extent to which our procedures are capable of detecling iiregularilies, mcluding fraud, is detailed below. Based on oui understanding of the charity and ils induslrylenvironmenl, we identified that ihe principal risks of non- compliance wlh laws and regulations idaled lo the Chariltes Act 2011, and we considered the exlenl lo which non- Complian might have a malertal effect on the finanaal slalemenls. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Acl 2006. and Regulation 8 of The Charities (Accounts and Reports) RulationS 2008.
Covenlry PAJilding SDciety Charilable Foundation Trustees, Annual Report and Financial Slalemenls for the w ended 31 December 2024 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF COVENTRY BUILDING SOCIETY CHARITABLE FOUNDATION (CONTINUED) Responsibilities for the financial statements and the audlt Icontlnued) Auditors, responsibilAies for Ihe audil of the fin8nci8lsla18menls (conlinued) We evaluated management's innveS and opportunities for Irdudulenl manipulalion ol the financial stalements (including ihe risk of override of controls}. and determined that the principal risks were relaled lo posting of inappropriate journals. Audit procedures perfc7ed by Ihe er¥jment let induded.. Identifying and testing a sample of manual journal entries: and Incorpoialion of an elemenl ol unprediclability in our lesting Ihrough altering the nature, liming andlor exienl of work performed. There are inherent limilalions in the audit procedures deSCrid above. We are less likdy lo become aware ol instceS of n0ll-complian wilh laws and regulations that are nol dosely related lo events and Iran5aclions reflecled in financial slalemenls. Ajso. the risk of nol delecling a material misslalemenl due lo fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealmenl by, for example, forgery or inlenlK)nal misrepreseniattons or Ihrough cdlush)n. A further deSCripon ol our reswnsibilities the a11 ol the linanua slalemenls is located on the FRC'S website al., www.froorg.ukjaudilorsSponSIb1Ilkn.es. This descripti fMns part of our auditors, rert, Use of Ihfts report This report, inclUfng the opinM)ns. has been wepar&J for and only for the Charitable ¢ompanVs memters a5 a body in accordan with Chapter 3 01 Part 16 of the Companies Act 2[ and ft)r no other purpose. We do nol, in giving these opinions, accepl or assume responsibilily for any other wrpose or lo any other person to whom this report is shown or into whose hands il may Come save where expressly agreed by our prior consent in writing. Other required reporting Companies Act 2006 ex¢eptlon reporting Under the Companies Act 2006 we are required lo rewrt to you il, wi OUT opuiion.. we have not obtained all the Niformalion and explanations we require for our audit; or adequate accounting reLords have not been kept or returns adequate for our audit have not been received from branches not visited by us,. or rtain disclosures ol Iruslees. remuneralKJn specified by law are nol made,. or the financial slalements are nol in agreemenl vith Ihe aoUnting records and relums. We have no exceptions lo report arising from this respcmsilility. Entitlement to èxemptions Under the Companies Act 2006 we are required lo report io you il. in rAJr opinion, the tfuslees were not entitled to prepare financial slalemen15 in accordance wlh Ihe small companies, regime and lake advantage of the small cornpanies, exemplion from PFeparing a Slralegi¢ Rewrt. We have no exceptions lo ieport arising from this responsibilily. David Ashworth (Senior Slatulory Auditor) lor and on behalf ol PricewaterhouseC(x)pers LLP Chartered Accountants and Slalulory Audilors Bimiingham 20 May 2025
Coventry Buikling Society CharilaEle Foundation Trustees, Annua Report alld Financial Statements for the year ended 31 December 2024 STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricled Funds 2024 2023 Note5 Income Irom: Investments Donalions Total income 4,691 479,228 483,919 4,642 299,220 303,862 Expendlture on: Charitable aclivilies Tolal expendlture 1538,7511 {474,855) 1538,7511 1474,8551 Net expenditure 154,832) 1170,9931 Reconclllatlon of funds: Total funds brought lorward Total funds carrled forward 76,555 21,723 247,548 76,555 There are no recognised gains or losses during the current year olher than the results for Ihe year staled above 12023.. £nill. A]1 funds are unre51ricted. The resLtIts a vthc41y derived from the conlinuing yations of the Charity. The accounting polirAes and notes on pages131015 lorm of these financ4al slalemenls. 10
Covenlry Building &)ciety Charitable Foundation Trustees, Annual Report and Financial Slalemenls for the year ended 31 December 2024 BALANCE SHEET AS AT 31 DECEMBER 2024 REGISTRATION NUMBER: 03662832 2024 2023 Notes Current assets Investsnents Oebtors Total current assets Total net assets 18,146 3,577 21,723 21,723 72,775 3,780 76,555 76,555 The funds of the charity: Unreslricled funds Total charity funds 21,723 21,723 76,555 76,555 These financial slalemenls have been prepared in accordance wilh Ihe provisions applicable lo [MpleS subject lo the small companies regime. in accordance wilh FRS 102 and Ihe ClpanIeS Act 2006 Section 414. The acGounling policies and noles lo the finCial statements on pages13 to 15 form part of these ffinanoal slalemenls. Approved by the Trustees on 20 May 2025 Matthew Mannings Trustee 11
Coventry Buihjing Sociely CharilaNe Foundation Trustees, AnnLtal Report and Financial Statements for Ihe year ended 31 December 2024 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activitie8 Nel expense lor the year Adjusted for.. Inleresl from investments Decrease in other debtors Net cash flows from operatlng actlvltle$ {54,8321 (170,993) {4,8941 14,642) 203 40,000 (59,5231 1135,835) Cash flow8 from Investing activities Interest from investments Net cash flows from investing activities 4,894 4,894 3,413 3,413 Change in cash and cash equivAlÈnt$ In the year Cash and cash equivalents at1 January Cg$h and cash Èqulvalents at 31 December 154,6291 1132,222) 72,775 204,997 18,146 72,775 The accounl'ng policaes and noles to Ihe financial slalements on pages 1310 15 form part of these financial 51atement5. 12
Coventry Buikfing Sociely Charitable Foundalion Trustees, Annual Report and Financial Statements for the year ended 31 December 2024 NOTES TO THE FINANCIAL STATEMENTS 1. ACCOUNTING POLICIES BASIS OF PREPARATION The financial statements have been prepared in ar£an1* with the Statemenl of Re)MMended Practi.. Accounting and Repoilng by Charities preparing their financial slalemenls in aCC(Kdan with the FinanThal Reportf'ng Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2022. The finanal slalemenls have been wepared in a¢)rdCe the Companies Act 2006. The finanual slalemenls have been prepared on an historical cost basis under Ihe accwals C<MP1 other than as staled below. As slated in the Trustees, Report, the directors ¢SIder that il is appropriale Io clmtinue to adopt Ihe going concem basis in preparing the financial slalemenls. In September 2024 the Financial Report9 Counal ann(wnced forthcoming amendments lo FRS102, incotporaling principles from IFRS 15 Revenue from contrlS with custnerS, and IFRS 16, Leases. These amendrnents are expected lo be effective for accounting riods beginning on or aller1 January 2026, wlh eady adoption peimitted. The amendments a anliupaled lo have no impact on the Chwity. DONATION AND GIFTS Donations and gifts ale aUnted for as they are received. Any related tsx uethts we acc(nted for on an accruals basis. ACCRUALS AND INCOME AND EXPENDITURE Income and Expenditure a¢livilies are accotsnled lor in the year in whtch they lake place, not simply when Gash payments ale made or received. Where inc0rn6 and expendilur8 has been recognised bul cash has not been received or paid, a deblor or creditor lor the relevant arnounl is recorded in Ihe balance sheet. 2. INVESTMENT INCOME 2024 2023 Short term deposit account 4,691 4,642 The investment income is re1Ve an acwunt held wth the Sooety. 3. DONATIONS 2024 2023 Donatiors from Coventry Bulding Scciety Donations from PennEs from Heaven scheme Total 466.164 13,064 479,228 286,463 12,757 299,220 13
Coventry Building Society Charitable Foundalion Trustees, Annual Report and Financial Statements lor Ihe year ended 31 December 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 4. CHARITABLE ACTIVITIES 2024 2023 Charitable donalions made duiing the year 538,751 474,855 As al 31 December 2024, £28,853 (2023.. £9,170) of funds have been awarded lo, bul remains undistsibuled by the Heart of England Community Foundation and £18,146 {2023- £72,775) of donations Irom the S)ciely, affitFity products and Pennies from Heaven Scheme remain undislribuled by the Fjndat10n. 5. INVESTMENTS 2024 2023 Funds held on deposit wlh Covenlry Building Society 18,146 72,775 6. DEBTORS 2024 2023 Prepayments and awrued income 3,577 3,780 7. RELATED PARTYTRANSACTIONS There are no employees of the Charily. The expenses of the Charily are borne by the Society. The Trustees do not receive remuneralion12023'. £nill. The audil lee 01 £20,O<2023.' £20.000) is borne by the Society. No non-audil seNices were prowded by Ihe Charily's auditors during the year. The Charity deposits donations receNed, and WFlhdraws donali)ns made, from an account held wlh the Society The Charily reiVed £4.691 (2023.. £4,642) inveslment income on this accounl. Coventry Building Society is considered lo be a related party. The administrative expenses of the Foundation including the adminislralK)n lees and annual tnanagernenl fee Gharged by the Heart ol England Community Foundation of £8,61712023'. £8,189) are borne by the Society. There were no other tran&8nS or balances with any related parlie5. 14
CA)venlry Buikling &)ciety Charitable Foundation Tiuslees, Annual Report and Finan81 Statements for Ihe year ended 31 December 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) . CHARITABLE EXPENDITURE Granls were awarded lo the lollowing chaiiL9ble foundations.. 2024 2023 Indirect charitable expenditure Heart ol England Community Foundation Total indirect charltable expendituie 86,170 86,170 81,892 81,892 Dlrecl ¢harltable expendlture Grapevine Sl Francis Employability Age UK The Belgrade Theatre Trust Cenlrepoinl Total direct charitable expenditure 50,000 61,500 10.000 65,000 40,000 216,483 392,963 70,000 58,400 274,181 452,581 Total charitable expenditure 538,751 474,855 There have been no changes lo the nature and conlenl ol funding streams during the year. The Heart ol England Community Foundation relain Iheir role in relation lo managing and distiibuling the funds that me Irom the Society's direct donal¢on, and th8 Charity continued to adminisler and distribute additional funds Iiom ils other funding streams such as donnanl acn)unls and Pennies from Heaven. 15