Charlty reglstrallon number 1085497 {England and Wales) Company registration number 03837167 THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 • xeinadin THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustees K Corrigan M Edgington S Crew S Jewell S Lan￿Y R Wand T Gent A Blatchford M Flavell C Mckinnell A Duncan (Appointed 9 Decembar 2024) (Appointed 4 November 2024} (Appointed 4 November 2024) Secr8tary SLan Senlor management S Crew T Gent Chair Treasurer Charfty number {England and Wales) 1085497 Company number 03837167 Roglstored offlce Avon & Somersel Constabulary PO Box 87 Valley Road Portishead Bristol United Kingdom BS20 8QJ Independent examlner Xeinadin South Wales & Wesl Limited Edinburgh House 1-5 Bellevue Road Clevedon North Somerset BS217NP THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND CONTENTS Page Truste8s' report Independent examinerfs report Statement of financial activities Balance sheet Notes to thè financial statements 8-13 THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Thè trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities SORP '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)" Objoctlves and acllvltles Objects and aims The objectives of The Avon and Somerset Constsbulary Benevolent Fund (hereafter referred to as 'th8 Fund.) are as follows: al To support and lo make grants and donations to persons and organisations who are conc8med with the provision of relief in cases of need, including the following.- (il The Gurney Fund (ill The Police Convalescent Home (iiil The Police Dependants. Trust livl The Widows, Funds of the former Bath City Police, the former 8ristol Constabulary and th8 fom18r Som8rs81 Constabulary. bl To relieve by grants or loans or otheThvise necessilous members of the following, particular considèration bèing given to those in hospital or convaleS￿n¢e. li) The Constabulary lil) Pensioned Members of the Constsbulary lili) Pensioned m6mbets of the former Bath City Police. the former Bristol Constabulary, the fomier Somerset Constabulary and the fom8r Somerset and Bath Constabulary. togeiher with necessitous widows and dependants of any such persons. c} In exceptional circumstances grants and loans may be made to other persons who are in need and who in the opinion of the Management Committee are closely connecled with the constabulary or with former Police Forces as listed in {bl above. Grants are made at the discretion of the Twstees, based on applications ￿CeIved. Public benefil We have referred to the Charity Commlsslon's general guldance on publlc beneflt when feviewing our aims and objectives. All of these aims are undertaken lo further our objectives for the public benefil. The truslees confirm that they have complied with the requirements of seclion 17 of the Charities Acl 201110 have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and perforniance Significant activities and aGhievements against objeclives Objectives and policies The objectives of the charity are the prevention or relief of poverty, suffering, distress, ill-health or financial hardship amongst the Beneficiaries. in particular but not exdusively by providing grants, loans andlor such other financial assistsnce and support to those individuals in such ways as the Trustees see fit from lime to time. THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Cash flow risk The charity's activities expose it primarily to the financial risks of changes in foreign currenw exchange rates and interest rates. The charity uses foreign exchange f0Th4ard contracts and interest rale swap contracts to hedge these exposur85. Interest bearing assèts and liabilities are held at fixed rate to ensure certainty of cash flows. Credlt rfsk The charity's principal financial assets are bank balances and cash, trade and other re￿1vableS, and investments. The charity's credit risk is primarily attributable to ils trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impaimient is made where ther8 is an identified loss event which. based on previous experience. is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivativè financial instruments is limited bècause the counterparties are banks with high credit-ralings assigned by intemational credit-raling agencies. The charity has no significant concentration of credit risk. with exposure spread over a large number of counterpartles and customers. Llquldlty rfsk In order to mainlaln liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-temi debt finance. Further details regarding liquidity risk can b8 found in the Stat8m8nl of accounting policlès in the financial statèments. Flnanclal ravlew Going concem After making appropriate enquiries, the Trust88s have a r8asonable expectation thal the Fund has adequate rgsources to continue in operational existence for the foreseeable future. The Fund has been able lo continue its charitable activities and maintain a strong cash position. For this reason, they continue to adopt the going concem basis in preparing the financial stalemenls. Further details regarding the adoption of the going wncern basis can be found in the accounting policies. Reserves policy It is Ihe policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's urrent adivities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintain8d throughout the year. Slructure* governance and management The charity is a company limited by guarantee .... . THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Iwstees. who are also the diredors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were= K Corrigan M Edgington S Crew A Farooq S Jewell S Lancey N Last R Wand T Gent A Blatchford M Flavell C Mckinnell A Duncarb (Resigned 31 May 2025) (Restgned 31 December 2024) (Appointed 9 December 2024> (Appointed 4 November 20241 (Appointed 4 November 20241 Recruitment and appointment of Inist88S Other than the current Truslees. Serving Member Trustees and the Secretary and Treasurer shall be appointed by the Trustees for terms of three years and a Twslee who has served their tenn must retire at the next meeting of the Trustees that occurs nearest to th8 expiry of their temi. A retiring Serving Member Trustee, Secretary or Treasurer who remains eligible may be reappointed. A Trustee may not acl as a Trustee until they have expressly a¢kno￿edg0d. in whatèver way the Truslees d8clde, their acceptance of the office of Trustee and confimalion that they meet the eligibility criteria and are nol subject lo automatic termination of their trusteeship under Article 4.13. Number of Trustees When complete, there shall be at least three and not more than fifteen Trustees all of whom must meet the eligibility riteria set by the Trustees from time to lime andlor as expressly provided in the Articles and must not be subject to automatic termination of their trusteeship under Article 4.13. If the number of Trustees falls below three. tha remaining Trustees may only act to appoint further Trusiees as required. The Trust88s shall comprise the following= a) Up to six Nominated Trustees b) The Chief Constable who shall be a trustee ex-officio ) Up lo six Trnslees each of whom shall be Servi￿ offi￿r$ or members of Police staff or volunteers of the Constabulary (the SeNing Member Trustees) d) The Secretary d) The Treasurer to the charity The Trustees shall have the power of c(kopting up to three additional trustees and temination of any co-option. None of the trustees has any benefiaal interest in the company. Al of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The companws current policy conceming the payment of trade credtiors is to follow the CBI'S Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1 DU). The company's current policy COn￿mIng the payment of trade creditors is to: settle Ihe terms of payment with suppliers when ag￿eIng the lems of each transaction; ensuf8 that suppliars are made aware of the terms of payment by inclusion of the relevant temis in contracts", and pay in accordance with the companvs contractual and other legal obligations. Other matters Induction and training of trustees Thè Trustees continually review the number of trustees and recruits when required. New Trustees have their responsibilities explained by the existing Trustees and other professional advisors as appropriate. The trustees, report was approved by the Board of Trust88S. S Crew Trustoe TtreaS￿le￿ ahJ &lusi4t 19 June 2025 THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND I report to the trustees on my examination of the financial statements of The Avon & Somersel Constabulary Benevelant Fund (the charity) for the year ended 31 December 2024. Responslbllltles and basls of rèport As the trustees of Ihe charity land also its directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not requlred to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have follow6d the Directions given by th8 Charity Commission under section 145151(bl of the Charities Act 2011. Independent examinorfs statement I have completed my examination. I confirm Ihat no matters have ccme to my attention in connection with the examination giving me cause lo believe that in any material respect= accounting r8cords were nol kept in resp8Ct of the charity as required by section 386 of the Companies Act 2006. the fin8nci81 slatements do not accord with those records.. or the financial statements do nol comply with the accounting ￿quIrernents of section 396 of the Companies Act 2006 othér than any requiremènt that the financial stal8m8nts giv8 a true and fair vlew, which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities prepanng their financial slatements in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in ￿nnectiOn with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial slatem6nts to be reached. Xelnadln South Wales & West Llmlted Edinburgh House 1-5 Bellevue Road Clevedon North Somerset BS217NP 19 June 2025 THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unfestrlctod funds 2024 Unrestrlctod funds 2023 Notes Incomè from: Donations and legacies Investments 26,312 170 31,511 14,396 Tolal Income 26,482 45,907 Expondlturo on: Charitable activities 112,483 55,538 Totsl expgnditurg 112,483 55,538 Nel gainslllosses) on investments 101,011 1100,794) Net Incomel(expendlture) and movement In funds 15,010 (110,425) Reconclllatlon of funds: Fund balances at 1 January 2024 1,153,643 1,264,068 Fund balances at 31 December 2024 1,168.653 1,153,643 The statemenl of financial activities includes all gains and losses re¢ognis8d in the y8ar. All income and expenditure d8riv8 from conlinuing activities. THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Nolos Flxed assets Investments 11 1.050.025 1,049,015 Current assets Debtors Cash at bank and in hand 12 55.2 68.478 40.480 69,068 123,768 109,548 Creditors: amounts falllng due wlthln one year 13 {5,1401 (4,920) Nat current assets 118,628 104,628 Total assots less curront Ilabllltles 1.168,653 1,153,643 The funds of the charlty Unrestricted funds 14 1,168,653 1,153,643 1,168.653 1,153,643 The company is enlitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 Oecember 2024. The directors acknowledge their responsibilities for ￿mPlyIng with the requirements of the Companies Act 2006 with respect to accounting records and Ihe preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. Thesè financial statements hava been prèpared in accordancé with th8 provisions applicable to companies subjèct to the small companies regime. The financial statements were approved by the trustees on 19 June 2025 S Crew Trustee Company registration number 03837167 (England and Wales) THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charlty information The Avon & Somerset Constabulary Banevelant Fund is a private company limtted by guarantee incorporatad in England and Wales. The registered Offi￿ is Avon & Somerset Constabulary, PO Box 87 Valley Road, Portishead. Bristol. BS20 8QJ, Uniled Kingdom. 1.1 Accountlng conventlon The financial statements have been prepared in accordance wilh the charitys governing document, the Companies Act 2006, FRS 102 Tre Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The finanaal slat8m8nls ar8 prepared in steding, which is the functional currency of the charity. Monetary amounts in these financial slatemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. Imodified to include the revaluation of freehold properties and lo include investm8nl properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Golng con¢ern At the limè of approving the financial stslements. the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going con￿rn basis of accounting in preparing the financial statements. 1.3 Charltable funds Unreslncted funds are available for use al the discretion of the Iruste8s in furth8rance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors or grantors as to how they may b6 used. The purposes and uses of the restricted funds are set out in the notes to the finanaal statements. Endowment funds arè subject to Specif￿ conditions by donors thal the r2Pital must be maintained by the charity. 1.4 Income Income is recognised when the tharity is legally entiued to it after any perfomiance conditions have been mel, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised On￿ the charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gtft Aid or deeds of covenant is recc*3nised at th8 timè of th8 donation. Legacies are recognised on receipt or otherwise rf the charity has been nolified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcies (Contlnued) 1.5 Expenditure Expenditure is recognised once there is a legal or Constructive obligatton to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classrfied by activity. The costs of each activity are made up of the total of direcl costs and shared costs. including support costs involved in undertaking each activity. Dired costs altribulable to a single activity ar8 allocated directly to that activity. Shared costs which contribute to more than one acb'vity and support costs which are not attributable lo a single aclivity are apportioned belween those activities on a basis onsislent with the use of resour￿5. Central staff costs are allocate(l on the basis of time spent, and depreciation charges are alltxated on the pO￿.on of the asset's use. 1.6 Fixèd assèt Invèstments Fixed asset inveslmenls arè initially measured at transaction pri￿ excluding transaction costs, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in net inwmellexpendilure) for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equlvalenls Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three rnonths or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and SeGlion 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instmm8nts. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provlsions of tha instrumènt. Financial assets and liabilities are offset. with the net amounts presented in the financia5 statements, when there is a legally enforceable right to sel off the recognised amounts and Ihere is an intention lo settle on a net basis or lo realise the asset and settle the liability simultaneously. Baslc flnanclal assets Basic financi81 assets, which include deblors and cash and bank balances, are initially measured at transaction price including transaction costs and a￿ subsequenuy carried at amortised cost using the effective interest Tneth¢xI unless the arrangement wnstitules a financing transaction, where the transaction is measured at the present value of the future receipis discounted al a market rat8 of interest. Financial assets dassified as receivable wilhin one year are not amortlsed. Basic financial liabllltles Basic financial liabilities, including creditors and bank loans are initially recognised al transaction pri￿ unless the arrangement Gonstilutes a financing transaction. where the debt instrument is measured al the present value of the future payments di￿ounted at a market rate of interest. Financial liabililies classified as payable within one year are not amortised. Debt instruments are sUbseqUen￿Y carried at amortised cx)st. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations Irom suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non 23,991 (5,641 } 1,049,015 101,010 (100,000) At 3108cemb8r 2024 1,031,675 18,350 1,050,025 Carrylng amount At 31 December 2024 1.031,675 18,350 1,050.025 At 31 December 2023 1.025.024 23,991 1,049,015 12 Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Other debtors (1) 55,291 40.481 55,290 40.480 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income 2,490 2,650 2,400 2,520 5,140 4,920 12- THE AVON & SOMERSET CONSTABULARY BENEVELANT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Unrestrlcted funds The unrestricted funds of the charity comprisè the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming rosources Resources expended Galns and losses At31 December 2024 General funds 1.153,643 26,482 (112,483) 101,011 1,168,653 Prevlous year: At 1 January 2023 Incomlng resources R6sources oxpended Galns and losses At31 December 2023 General funds 1,264,068 45.907 (55,538) (100,794) 1,153,643 13-