Charity Commission No. 1115871
CIBSE BENEVOLENT FUND TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

aBSE BENEVOLENT FUND TRUST
CONTE14TS OF THE F114ANCIAL STATEMEwrs
FOR THE YEAR E14DED 31 DECEMBER 2025
Contents
PaBe
Reference and administration information
Trustees, Report
Independent Examination Report
Statement of Financial Activities
Statement of Financial Position
Statement of Cash Flows
Notes to the Financial Statements

aBSE BENEVOLENT FUND TRUST
REFERENCE ADMINISTRATION INFORMATION
FOR THE YEAR E14DED 31 DECEMBER 2025
TRUSTEES
K Kelly. Chair
A Mcwilliam
J Sproxton
J Field
J Stocker
S Macpher50n (appointed 24 April 20251
P Raynham lappointed 30 Ortober 20251
P Anderson lappointed 29 january 20261
R Gooding
L Copeland
A Fung (appointed 29 January 20251
REGISTERED OFFICE
clo Chartered Institution of Building Seryices Engineers
91-94 Saffron Hill
London
ECIN 8QP
CHARITY NUMBER
1115871
INDEPENDENT EXAMINER
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
PRINCIPAL BANKERS
National Westminster Bank
Croydon & South London
Commercial Business Centre
3rd Floor
Link House
4 Addiscombe Road
Croydon
CR05

aBSE BENEVOLENT FUND TRUST
TRusfEES' REPORT
FOR THE YEAR E14DED 31 DECEMBER 2025
The Trustees present their annual report and accounts of the CIBSE Benevolent Fund Trust Ithe "Trust") for
the year ended 31 December 2025. The financial ststements have been prepared in accordance with the
accounting policies Set out on pages 9 to 13 and comply with its Trust Deed, the Charities Art 2011 and
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of
Ireland IFRS 1021 leffective l January 20191 (Charities SORP IFRS 10211.
srRucfuRE, GOVERNANCE ANO MANAGEMEMr
The Trust 15 governed by the Trust Deed dated 16 August 2Th15. The charity number is 1115871 and the
Trust was registered with the Charity Commission in England and Wales on 21 August 2TrJ5.
The objectives of the Trust ale the relief of persons who a￿ in conditions of need. hardship or distress and
who are members or former members of the Institution of Heating and Ventilating Engineers or of the
Illuminating Engineering Society of Great Britain or of the Chartered Institution of Building Service5
Engineers ICIBSEI and the immediate dependants of such persons. Except in eyceptional circumstances,
support is normally only offered to those who have paid not less than three years, subscriptions to one or
more of those institutions and to the dependants of such persons.
Assistance and all financial aid sh311 be at the discretion of the Bo)rd of Trustees who may dele8ate thls
responsibility to a Management Committee.
The Board of Trustees consists of at least seven TTilStees and includes-
two Trustees nominated by the Almoners-
two Trustees nominated by the governing body of the Chartered Instltution of Bulldlng Servlces
Engineers, and
the Hon Treasurer for the time bein8 of the Chartered Institution of Building Services En8ineers.
ACHIEVEMENT5 ANO PERFORMANCE AND FINANCIAL REVIEW
The Fund's income for 2025 was just over £69k a decrease of £3k on the previous year. Grant expenditure
has increased due to higher quarterly payments, increasing from £71XJ-£81XI. The Trust's total reserves, all
of which are unrestricted, at 31 December 2025 amounted to £950,87812024'. £1,C(JI,7621.
AcfiviTIES IN THE YEAR
Member donations were down in 2025 compared with 2024, this may be due to inflation and other
increasin8 costs to households.

aBSE BENEVOLENT FUND TRUST
TRUSTEE'S REPORT ICONTINUEDI
FOR THE YEAR E14DED 31 DECEMBER 2025
FUTURE PLANS
The Trustees remain of the view that the increasing number of retired CIBSE members and an ageing
population in general. combined with the uncertainties faced by many in respect of pension provision. that
there is scope for more demand to emerge over time. although this has not yet been apparent. The Fund
has responded to the risirhg cost of living by increasing the grant5 to beneficiarie5. More generally, the
Trustees continue to seek opportunities to promote the work of the Fund, to generate further income and
to draw the attention of potential beneficiaries to the available support.
RISK MANAGEMENT
A full review of the Trust's main areas of risks has been undertaken. This includes all health and safety
policies and procedures. The Trustees are happy with the processes that have been established to mitigate
these risks. rhe reserves comprising cash and investments will enable the trust to meet obligations as they
fall due.
PUBLIC BENEFIT
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on
public benefil when reviewing their aims and objectives and in planning future activities.
RESERVES POLICY
It is the policy of the Board of Trustees to maintain sufficient free reserves to generate sufficient
Investment income in order to Continue to fulfil the objects of the Trust and to provide lor future demands.
Investment performance in 2025 was down by £46k on the previous year, but the Trustees believe that
sufficient funds are available to meet the needs of the Trust and of its reseryes policv.
srATEMENT OF TRUSTEES. RESPoNSIBIL￿lEs
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted
Accounting Practice).
rhe law applicable to charities in England & Wales requirès the Trustees to prepare financial statements
for each financial year which give a true and fair view of the state of affairs of the Trust and of the
incomin8 resources and application of resources of the Trust for that period. In preparin8 these financial
statements, the Trustees are required to..
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent-
state whether applicable accounting standards have been followed, subject to any material
departure5 di5¢105ed and explained in the financial statements-

CIBSE BENEVOLE1￿ FUNO TRUST
TRusfEE'S REPORT ICOIfflNUEDI
FOR THEYEAR ENDED 31 DECEMBER2025
STATEMENT OF TRU5TEES' RESPONsIBIL￿lEs Icontinuedl
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the Trust will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the Trust's transactions and disclose with reasonable accuracy at any time the financial position of
the Fund and enable them to ensure that the financial statements comply with the Charities Act 2011. the
Charity IAccounts and Report) Regulations 2LK)8 and the provisions of the Trust's trust deed. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved by the Board of Trvstee5 on 30 April 2026 and signed on its behalf by..
K Kelly
Trustee

aBSE BENEVOLENT FUND TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRu￿EE5 OF THE CIBSE BEl4EV0LEP￿ FUND TRUST
OPINION
I report to the trustees on my examin3tion of the accounts of CIBSE Benevolent Fund Trust for the year
ended 31 December 2025.
Thi5 report is made solely to the chariVs trustees, as a body, in accordance with section 154 of the Charities
Act 2011. My independent examinerfs work has been undertaken so that I might state to the charitV'5
trustees those matters l am required to state to them in an independent examinerfs report and for no other
purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other
than the charity. the charity's members as a body and the charitys trustees as è body for my independent
examinerfs work, for this report. or for the opinions I have formed.
RESPONS181LITIES AND BASIS OF THE REPORT
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance
wlth the requlrements of the Charitles Art 20111.the ACYI.
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act
and in carryin8 Out my examination I have followed all the applicable Oirection5 given by the Charity
Commission under section 14515llbl of the Act.
INDEPENDENT EXAM114ER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention In
connection with the examination 8iving me cause to believe that in any materièl respect=
l. ac¢ountin8 record5 were not kept in respect of the Trust as required by section 130 of the Att;
2. the accounts do not accord with those records,. or
3. the accounts do not comply with the applicable requirements concerning the form and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2CM)8 other than anv
requirement thai the accounts give a'true and fair Vie￿ which is not a matter considered as
part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
yar
Vincent Marke FCA
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
30.04.2026

aBSE BENEVOLENT FUND TRUST
STATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR E14DED 31 DECEMBER 2025
2025
2024
Note
Income from:
Donations and legacies
Investments
42,273
26,862
46,473
26,035
Total 5ncome
69,135
72,508
Expendlture on:
Charltable artivlties
Charitable Expenditure
73.500
61,592
Total expendlture
73,500
61,592
Net Income before galns on Investments
Net Ilossl I gains on investments
14,3651
146,5181
10,916
24,288
Net Income and Net m0￿ment In funds
150,8831
35,204
Fund balance brousht fonward
1,001,761
966,557
Fund balance ¢arrled forward
950,878
1,001,761
All of the above results are derived from continuing activities.
There were no recognised gains or losses other than those stated above and therefore those stated above
represent total comprehensive income.
The notes on page 9 to 13 form part of these financial statements.

aBSE BENEVOLENT FUND TRUST
STATEME1￿ OF FINANCIAL POStTION
AS AT 31 DECEMBER 2025
2025
2024
Nott
Flxèd assèts
Investments
862,848
909,366
Total flxed assets
862.848
909,366
Current assets
Oebtors
Short term deposits
6,516
86,768
73,742
21,107
Total ¢urrent amets
93,284
94,849
LIabl15￿eS
Credltors.. Amounts falling due withln one year
IS.2541
12,4541
Net current assets
88,030
92,395
Net amets
950.878
1,001,?61
Funds
Unrestricted funds
950,878
1,001,761
Total funds
950,878
1,001,761
Approved by the Board of Trvstee5 and authori5ed for issue on 30 April 2026 and signed on its behalf bv..
K KELLY
Trustee
The notes on page 9 to 13 form part of these financial 5tstements.

aBSE BENEVOLENT FUND TRUST
STATEMEPUOF CASH FLOWS
FOR THE YEAR E14DED 31 DECEMBER 2025
Note
2025
2024
Cash flows from operatlng actlvltles:
Net¢a5h provided by/{used inj operoting ortivitie5
38,799
140,6071
Net cash flows from investment activities:
Dividends and interest from investments
26,862
26,035
Net C475h providedby/lused inj investing ortivitie5
26,862
26,035
Change in cash and cash equivalents in the year
Cash and cash equivalent5 at the beginning of the year
65,661
21,107
114,5721
35,679
Cash and cash equivalents at end of the year
86,768
21,107
Notes to the cash flow statement
l. ReconcIlla￿On of net Income to net cash flow from operatlng actlvltles
Net income for the reporting period las per the Statement of
Financial Activities)
Gains on investments
Dividends and interest from investments
Oecrease/llncreasel in debtors
IncreasellDecreasel in creditors
150,8831
46,518
126.8621
67,226
2,800
35,204
124,2881
126.0351
124,0381
11,45DI
Net cash used in operating activities
38,799
140,6071
11. Analysls of cash and cash equlvalents
2.025
2024
Short-term deposits
86,768
21,107
Total ¢05h and cash equivalents
86,768
21,107
111. Analys15 of chan8es In net debt
At
OVOV2024
Cash
Flows
At
311IV2025
Short term deposits
21,107
65,661
86,768
Total
21,107
65,661
86,768

aBSE BENEVOLENT FUND TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR E14DED 31 DECEMBER 2025
I ACCOUNTING POLICIES
1.1 Basis of preparation and Boing ioniem
The financial statements have been prepared under the historical cost convention as modified by the
revaluation of fixed asset investments. The financial statements have been prepared in accordance with
the Statement ol Recommended Practice.. Accounting and Reporting by Charities preparing their
accounts in accordance with the Financial ReportinÈ Standard applitable in the UK and Republic of
Ireland IFRS 1021 leffective l January 20191. the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair view. and have departed from the
Charities (Accounts and Reports) Regulations 2(M)8 only to the extent iequired to provide a 'true and fair
view,. This departure has involved followin8 the Statement of Recommended Prattice applicable to
charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS1021 issued on 16 July 2014 rather than the previous Statement of
Recommended Practice.. Accounting and Reporting by Charities which was effective from l April 2LK$5
but which has since been withdrawn.
The Trust con5titute5 a public benefit entity as defined by FRS 102.
l.Z Goln8 Concern
The Trustees consider that there are no material uncertainties about the Trust's ability to continue as
going concern. The Trustees have reviewed the trust's investments and operations and are satisfied
there will be sufficient cash resources available to meet grants awarded and operational costs. The Trust
holds reserves to supplement income requirements to meet its charitable objectives as requlred. The
Trustees consider that there are no material uncertainties over the Twst's ability to continue as a 80in8
concern for the foreseeable future, being a period of at least 12 months from the date of si8nin8 the
financial 5talements.
1.3 Income re¢ognltlon
All income is recognised once the Trust has entitlement to the income, it is probable that the income will
be received and the amount of income receivable can be measured reliably.
Donation5, are recogni5ed when the Trust ha5 been notified in writing of both the amount and
settlement date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably
by the Trust.. this is normally upon notification of the interest paid or payable by the bank.
Income from investments is included in the Statement of Financial Activities when it is earned. This is
when the Trust becomes entitled to the resource.
All income is attributable to unrestricted funds.

aBSE BENEVOLENT FUND TRUST
NOTES TO THE F114ANCIAL STATEMEPUS (CONTINUED)
FOR THE YEAR E14DEO 31 DECEMBER 2025
I ACCOUNTING POLICIES Icontinuedl
1.4 Expendlture recognltlon
Liabilities are recognised as expenditure as soon a5 there is a legal or constructive obli8ation
committing the Charity to that expenditure.
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure involving more than one category has been
apportioned by the Trustees on a reasonablè. justifiable and consistent basis, involving estimating
proportions of time spent.
Provision has been made in the Statement of Financial Activities for all grants authorised by the
Trustees during the year. The expense for the year is reduced by the cancellation of grants authorised
but not subsequently required.
All expenditure is made from unrestricted funds.
1.5 Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction
value and subsequently measured at their fair value as at the balance sheet date using the closing
market price. The Statement of Financial Activities includes the net gains and losses arising on
revaluatlon and dlsposals throughout the year.
The Trust does not acquire put options, derivatives OT Other complex financial instrument5.
1.6 Reallsed 8alns and loss•s
All gains and losses are taken to the Ststement of Financial Activities as they arise. Realised gains and
losses on investments are calculated as the difference between sales proceeds and their opening
carrying value or their purchase value if acquired subsequently to the first day of the financlal year.
Unrealised gains and losses are calculated as the difference between the fair value at the year-end and
their carryin8 value. Reali5ed and unrealised investment gains and losses are combined in the
Statement of Financial Activities.
1.7 Funds
Unrestricted funds are the general funds of the Charity. which may be used at the Trustees, discretion
in accordance with the charitable objects.
Comparative amounts presented within the Statement of Financial Activities are all attributable to
unrestricted funds.
1.8Jud8ements and key soy￿e$ of estimation uniertainty
Estimates and judgements are continually evaluated and are based on historical experience and other
factors. including expectation of future events that a￿ believed to be reasonable under the
circumstances. There are no estimates and assumptions that are considered to have significant risk of
causing a material adjustment to the carrying amounts of assets and liabilities.
io

aBSE BENEVOLENT FUND TRUST
NOTES TO THE F114ANCIAL STATEMEPUS (CONTINUED)
FOR THE YEAR E14DEO 31 DECEMBER 2025
2 INVESTMENT INCOME
2025
2024
Listed investments including Govemment Securities
Cash deposits
26,229
633
25,788
247
26.862
26.035
3 ANALYSIS OF TOTAL EXPENDITURE
Dlrect
Grants
Travel
Other
2025
2024
Dlrect charltable expendSture
Grants to individuals
Governance costs
65.366
65.366
8,134
54,081
7,Sll
374
7.760
65,366
374
7,760
73,51)J
61,592
2025
2024
Governance costs
Administrative fees
Independent Examination fees
Trustees expenses and meeting costs
4,029
2.8C(J
1.305
3,780
2,450
1.281
8,134
7,511
Dirett grants were made during the year to 31 12024: 271 individuals to assist with their welfare and
financial needs.
Trustees are reimbursed for travelling and other expenses whilst engaged on or incurred in respect of the
activities of the fund. In 2025 3 trustees undertook travel and were reimbursed a total of £49812024.. 4
for £4861.

aBSE BENEVOLENT FUND TRUST
NOTES TO THE F114ANCIAL STATEMEPUS (CONTINUED)
FOR THE YEAR E14DEO 31 DECEMBER 2023
4 INVESTMENTS
2025
2024
Balance as at l January
Net gains on investments
Net gain on re valuation 31 De￿mber
909,366
885,078
146.5181
24.288
Balance as at 31 December
862.848
909,366
The listed investments are managed on behalf of the Trust by CCLA Investment Management Limited.
5 DEBTORS: AMOUNTS OUE WITHIN ONE YEAR
2025
2024
Amounts receivable from The Chartered Institution of Building Services
Engineers INote 81
6.516
73,742
6,516
73,742
6 CREDITORS: AMOUNTS DUE WITHIN ONE YEAR
2025
2024
Accruals
5,254
2,454
5.254
2.454
12

CIBSE BENEVOLENT FUND TRUST
NOTES TO THE FINANCIAL STATEMENT ICONTINUEDI
FOR THE YEAR E14DED 31 DECEMBER 2023
ANALYSIS OF CHARITABLE FUNDS
Current Year
Funds brought
forward
Income
Expenditure Net Ilossl I
gains on
Investments
Funds
carrled
forward
Unrestricted funds
I.￿1.761
69.135
I73.5￿)
146.5181
950,878
l.C#)1.761
69.135
173.SC#)I
146,5181
950,878
Prlor Y•ar
Funds brou¥ht
forward
Income
Expendlture Ilossl I
galns on
Investments
Funds
carried
forward
Unrestricted funds
966.557
72.508
161,5921
24,288
l.Wl,761
966,557
72.508
161.5921
24,288
1,001,761
8 RELATED PARTY AND RELATED PARfi TRANSACTIONS
The Chartered Institution of Building Services Engineers ICIBSEI is a related party to the Trust bv
virtue of its members or formers members and their immediate dependants being supported by the
CIBSE Benevolent Fund Trust. CIBSE is a Charity registered in the United Kingdom and its registered
office is 91-94 Saffron Hill London ECIN 8QP
2025
2024
Administration fee charged by CIBSE to the Benevolent Fund
2,884
2.884
Payments made on behalf of the Benevolent Fund
Expenses
Grants
2,366
1,749
2,107
Amounts recelved on behalf of the Benevolent Fund
Donations
28.962
46,473
At the end of the year, CIBSE owed the Trust £6,51612024.. CIBSE owed the Trust £73,743 which was
paid back to the Benevolent fund during 20251.
13