NewstrAide Tre helping hand of the Newstrade 2022 ANNUAL REPORT
Contents Objects & Aims..................................................... Welcome from the Chair................................. The Chief Executive's Report.......................... Achievements & Performance.................... .. What we did in 2022.............................. ......... Objettives for 2023......................... ........ Financial Review....... .............. .. .. 10 Risk Management............ . ... Committees & Almoners .................................... 14 12 Our Area Committees ......................................... Structure, Governance & Management Trusteeg Responsibilities Statement................. 18 Independent Auditorfs Report............................ 19 Statement of Financial Activitie5........................ ?1 16 Balance Sheet...................................................... 22 Statement of Cash Flows.............................. .... 23 Notes to the Financial Statements.................... 24 Patrons. Officers and Trustees.......................... 33 We are the helping Iiand of Ihe news (rade
Objertives &Aims OUR OBJEcfivES OURAIMS WELFARE VALUE To provide welfare to qualifw'ng beneficiaries. To distribute welfare funds in ways thai delver the best value supporc in the context of rigorous governance. To relieve persons who are in conditions of need or hardship,. and 10 relieve the distress caused thereby through the provision of welfare for persons who are, or have been, employed in the selling and distribution of newspapers. magazines, and periodicals (Yhe Trade? in the United Kingdom, including their immediate famity and dependants. AA ADVICE ENGAGEMENT To provide support and adwce to those who need ii. To ensure a high level of engagement within the industry. Engagement shall normally have been for a minimum of fwe years. PARTNERSHIPS To develop and maintain new and existing partnefships in Ihe industry.
Welcome from the Chair 44 Welcome to the NevtrAid 2022 Annual Report and Accounts. Hawng been thrwgh two years of restri(tions and hardships caused by the Cowd par4demio we might have imagined that 2022 would be a less demanding year for NeWs[rd and the many peOe from our own industry who rely on our suprx)rL Unfortunatety. a war in Euro. rampant energy prices, and irippling levels of inllaiion have presented new challenge5 for everyone and made the work we do rr¥? important than ever. in February. the value of rewlar benef paymenTS was increased from August. a supplement was added to the Winter Comfort Grant paid in IrOLEr and a Cost Oi Liiftng Crisis Fund was (reated to provide for spectfic (ases ol hardship. In additio our new Help for Hobbies initiaiwe has tried to ensure rhat aCtlL]eS 9) Mtal f(Y our mentsl health aTrI Hawng been 3 trusiee for a number ofyears l am delighted to been eletted as Chair of our Irndury chaTiry. l add mythanks to Mike's for tne coniinued Éenerosity of our supp)rters and the amazing work CMJr volunteers do. alongside the Newsrrhid team. My thanks go 10 Mike for his time as Chair and his continued guidance and support for me as he continues as a trustee. Al of this actNity requifed not on the generosityof our supporters and a robust financial position bui also made dernarK5s on the small team uler CEO. Neillagger w(Kk with real diligence arKI compasgm Many Ihanks io all of you. I look forward 10 continuing 10 work th Ihe Nevv51rMd ieam and my fellow trustees ¢0 ensure that our Industry charity remain5 relevani ano responspE to the ever-changing enwfonfflent. NewstrAid has been there to provide record levels of support to its beneficiaries and those who need our help. Tracy ¢YSullivan 114 Seprnber to 31 December) Finally from me. in Sepiember 2022 I stepped down from my second S[ni as Chairof TTU5tees and Tracy Osullivan was electe¢J to rake over. Tracy is a long-term Trustee and supwrter of the Charityand I cwldnt be more delighied that she agreed to become Chair. t has been a real horK)ur 10 Serve Ne¥tr"d and l am gratefijl to the Trusrees and volunreer5 who have also made it such a tleasure. I will coniinue as Trustee for a little longer bJL for now. I will just say thanky)u l&we the word io Traoy... Thanks to the thousands of retailer5 who participaie in our lotteries or 8Ne regular donalions,- to the many companies across our industry Ihai provide sponsorship or other 5uppon,' and to the countless indpiiduals who gwe their time a5 volunteers, attend our events or do their own fuTrdraising on our behalf, NNStr has been there to prowide record levels of supp)rt to its beneficiaries and thosevtho need MÈke Mirams our help. Through 2022. an addTuonal {1 January to 74 September) Winter Booster payTnent was made
The Chief Executive's Report NewstrAid exists 10 hdp colleagues lessons football knr5and from our indusrry receNe much needed dub membership amongst manyother supporE ¥yhen Ihw ère facing hardship. aaMDes that chiklren can tak Whilst Ihe UK felt some respre sn 2022 part in. from CoMd-19 following the vaccinatic prograrnme. other threats emerged. The war in Ukraine led to soaring eller costs folloY4ed by infiaEton funning at it5 highesr level for 40 yea pun8 househo finance5 under severe pressure. the charity and we 311 wsh you fufure happine aThJ succes5. It is a privilege to be CEO of NewstrAid and to see first-hand how we are improving the lives of our newstrade colleagues. Ne orS 15 posgl>le vnthwt the support ofthe nev+sparr aTrJ magaar indugry. In 2022. fJJr inc¢yr was boosted ty a recnJitnEnE dme across Ihe MenDes Ths[rIOn esraie rewlting in marry more [311 dcmauons and membership of 131 Jotteries. I Jld a150 like w Take thi£ oppmniry to thank Mail Ncvopapers and New UK Thankyou to everyone has both became corpjrdie St50r> thnated ro. sponsored and supponed in 2022. ThankY to our Evens whKh had largety been army of volunteers who sit on Area, mothballed duringthe Comd pN3ndenNo WeKafe and 1rwesvnt CommSttees. restarted in eamesL Our Lingfield Race Thank you to ¢XJrAjmorS vtho slI Day trM)k place after a 2-yEar gap an benettoarles and ptsy such a valuable the St 8rKJes Carol seNce was once rde. Thankyrju to the Trusiee Board agatn a 8reat success. All acr05S the Uli for thwrongoirÉ Inh[ and support. rAsea C<mmittees ran quiz nigh golfda. swive5 and even a ¢JtKk race. NeK%tfAid needed to step up and we dld. We gave our benefioarEs an addtiional £1(X)k tn Supementary[Ue1 grants to help them staywam) over the cold nter mnths and keep tjp wffh their ever-0ng ener ly'115. We 0ded further financial support our Cost of Lmng Crisis Fund which we launched in the autumn of 2022 as infiation cogs be8an 10 cllmb. The resp(nse has been erfndSh so m£ny messages ofthanls from OL beneficiaries for bein8there when needed Lts n))st It a prfvie io CEO of NewStrd and 10 see first-hand howwe are impr(Mn8 the INes of our newsirade colleag. With ur supporr we can conunue ro do this for many years io the 012022 wrwelfare Help for Hobbies was Launched this Manager, Sine1 Atxxj. who many of year to provhde ftnanclal support for you wll krw. decided that itwas ume children who wish to take part in 10 have a chae ofdirecDon after exTracurricular altIeS bLll canl afford 20years th Nev[rd. Thank yw. to. Help for Hobbies has funded darKe sd. foryxff trwOrk for Nelljagger "Mv werv grateful thanks" for all I'our help in 2022. Iwiihout I'our help I don't knoii hom" l ii'ould hawe coped."
Achievements & Performance Achievements against our 4 key objectives for 2022 1. Review and recommend options to increase welfare delivery •• £159k 10% 400 2new welfare schemes discretionary increase grants to regular paid to help benefit with escalating payments due energy costs to inflation telephone calls made to beneficiaries in addition to almoner vistts introduced to target the cost of living crisis and young families 2. Develop NewstrAid's fundraising approach new Corporate s packages agree (DMG. News UK& HHS) onsorship businesses selerted NewstrAid as their chosen charity for the year 1744 new lottery participants recruited through Menzies territories new fundraising initiatives took place including ourfirst industry wide awareness day and online Christmas raffle 6 RepNEJ)22
- Ensure NewstrAid volunteers continue to play a key role for the Charity 250 15 almoner visits took place during the year new almoners recruited area committee events organised
- Engage positively with stakeholders to create greater awareness and support of NewstrAid's objertives 10 presentations made to key newstrade companie5 Industry advocate numbers 28 % increase 2021 2022 doubled in E-newsletter subscriptions 5 industry • • • advocate meetings took pla 72.000 newsletters distributed to independent retailers who contribute to NewstrAid ua ReFffl2022 7
What we did in 2022 JANUARY APRIL AUGUST Hearst Magazines makes corporate donation Regular benefit amount. increased by new Industy Advocatesjoin our network 100h in response to the increase in the cost of living HH&S sponsors E-newsletter distributed ,500+ Parin Gohil, Managing Director of Newtrade Media joins the Trustee Board. industry contacts 6 times each year Smiths News makes corporate donation FEBRUARY SEPTEMBER £59k discretionary grant MAY Mail Newspapers makes corporate donation Lingfield Race Day returns awarded to help beneficiaries cover the cost of rising household bills. Mindful May takes place to encourage mental & physical wellbeing News UK makes corporate donation First online demonstration of the Wellbeing Suite takes place. ocroBER JUNE First industry awareness day Woolly Wednesda takes place tying in with the Winter Comfort Payments which sees supplemented grants MARCH Help for Hobbies Fund Launched Retail recruitment across Menzies Distribution takes place adding JULY totalling £100k 1.744 retailers distributed to hundreds of industry colleagues. Live AGM event returns where Mike Mirams steps down as Chair of Trustees and Tracy O'sullivan is appointed to the lottery and weekly donor list. Tandem Skydive take5 place and NewstrAid Instagram account launched raises £6k for the charity.
"Thank vnu for iiour kindness I'ou are $0 geiierous. This Inonev means I can keep Ihe lica(ing on ii'ilhoui ii"orrv." Objertives for 2023 Protert and improve regular beneficiaries. standard of living and increase welfare delivery across the newstrade Coniinue to develop our welfare offer In Wt of current everts. bncluding remewrg fiJeJ grant PJyTnents aNJ Cost ofLMng Crisis Fund . Relaunch the Fresh rtAssst Ifare ofter th clear marketfrE to improve accessibility 10 ietailers Conrinue iofind effettive nèrts 01promon8 our weware offer. Un8 adverttsemenrs. InduSuYA(QcateS and targeted marketing kty areas such as usage of the Wellbeing Suite . Protect reguL3r benefii pajments arKI connnue 10 find newapplicants. Ensure NewstrAid volunteers continue to play a key role F(Kus on rnorr retention and grovth through trainin& soual and recognition a(tNity Reftxus Area Commlttee actmty to berrer support the over811 strateg/ of the charty. Working with Stakeholders Work doseW th whole58lers to comtnunkate the benefits of N•trd to relwant employees Commission new prornotional deo to present 10 key industry organsatK)ns Create Ind(dUal oblectlves for the enLHrged IrKIuSbyAdateS group Communtate cIeartyWh retsilers to ensure they are avrdre of and berfir from our weKare offer Contlnue to harness rhe goodwill of industry bod9 aThJ trade NOVEMBER Cost of Living Crisis Fund launched offering up to £250 per household to people struggling with the cost of living. Protert & optimise NewstrAid's income streams ExFlore the potentk41 to Eauh a kTruerysdme in Northem Ireknd IrNestigate hcwto Include ihe gro%Mn8 number of SULI retailers in fvndrai%ingaai . Renewexsting and in1rodu new corpjrate sponsors Mainrain effecti communkaiior6 th rer3ith and trade groups to protect our major income stream . CarefLtIty manage Inment income reserves to ersure the lorg term SLalnablIrty ofthe charity. Online Christmas Raffle launched for the first time DECEMBER Carol Service at St Brides takes place for the 30th year. "Thank vou all for Ihe help you gii.'e us it is the differen beim.een us managing our affairs or being indebt.,l( a very depressing lime in the orld, it makes all Ihe difference." ACE Christmas Lunches raise over £5k for NewstrAid 17 New area committee members recruited
Financial Review Toial income of £2.04m12021= £1.75ml and expenditure of £1.72m12021= £1.49ml exceeded bud8eE expectalior6 ty £0.41 and £0.12m respectNety. The total Surplus for the year was £0.32m12021= £026ml after a(countirE for realised 8ains on the disposal of irNestrnents. Income 2022 £2.04 Budget £7.63m Expenditure 2022 £1.72 Budgei £1.6m Surplus 2022 £0.32m Budget £0.03m There was a decrease in the valuatTon of investmenrs during the year of £1.5m12021-. inirease i1.1ml resuliing in a nei (Je(rease in fvTrJs of £1 2m 12021." net increase £1.4m}. Laura Grio. Financial Controller Where our income came from We do not proacrwety engage wth the publsc to raise fiJnds and retyon the long-standsng reLationships formed with our supporters to coniinue the wrjrk ofthe charity. We are priwleged to be reporting 3 14% increase in income during such difficu times and we are immer01 grateful for ihe continued generosty ofour supporters volunteers and corporate partners of retarler dosures seen Since Ihe start of Ihe pandemic Slovd. resulting in higher-tharkexpetted participanr numbers which raised an ajditnal £0.08m income agains[ bLKJgeL Imiestment Income- £0.41m Investmeni income gn[fiCantyexceeded budset expeclations by £0.08m12441 which helped to SUPF)Ort cash flow duringthe year. Donatlons. events and glfts ITr klnd-£Q42m week donarions from retailers £0.25m12021'. £0.22rn1 form the principal elemeni of donaiiof6 recabe(l.- retailer ¢Yonarions have increased by 1796 during the year. Corporaie donations also increased to EO.07m12021.. £0.03ml kindly donaied by leading newstrade names. Oiher donations £0.01 m12021= £0.01 ml consists ol income from company fijndraising ¥n((iatNes such as the annual raffle hdd byihe Associauon olCifcuLition Executives IACEI 10 SUPPOrt the childrens Christma58ranL individuals, and other charities. ilue to the continued easin8 of Covid-19 restriaions we were able to tK)Id ar¥J aitend 15 events during the year rasin8 £0.06m befo costs. Gifts in kind EO.03m12021'. £0.01 ml relates to free advertisirEand publication5 recewed to promote welfare initiatwes valued at the cost the charityWY)uld have t)een Iling to pay for those serwces. rK)t the mathet value. in accordance wi(h the Charities SORP. Retailer Donations Corporate donatior Other donaticffls E*nts Giffs in k¥nd Lottery £0.25m12021: £0.22ml 12021- £0.03ml £0.01 m12021: £0.01 m) £0.06m12021'. £0.01 m) £0.03m12021'. £0.01 m) £1.21m12021.' £1.12m) £0.41 m12021'. £0.35ml Lottery- £121m The challty run5 13 lotteries across the cntry and carries out 148 lottery dra a year. 1.744 new participants were recruited into the lottery (5uring quarter one of 2022 which added £0.15m to income during the year against budget In additKJn. the increased nUrnr
How we spent our funds We aim 10 streamline njnning costs to ersure that we can allocate the maximum amount of funding possible 10 our beneficiaries whilsi also comptyin8 wi(h rigorous governance policie& Governance cosrs- £0.06m GovernarKe c05f5 have increased by £0.02m year on yEar due to increased expenses relating to the return oftsce40-face commitree meeiings and expanding audii regulation Dlrect payments to benefidarles- £0.81m Paymenis to beneficiarie5 have irKreased ty 17% year on year. Discretionary grants were paid in FebnJary and Ocrober to support with increased fvel costs and regular benefKiary payments tre increased 10% in August 2022 in line vfflh increasiryé inflation. Requesrs for in work suppon increased try 8 year on year refietting the need 10 inrroduce new initiative5 for those workn'ng but still Imng in ph)verty. In response, NeWstrd intr<)dvced new schemes during 2022. Help for Hobbies and the Cost of Lmng Crisis Fund, the full success of vthich wll be seen in 2023. Costs of ralslngfunds and other Income-£053rn The cost of raising fvnds and other income most consisrs of lottery prizes which represent 20% ofthe total lottery income received. $0 included are staff Costs and overhead5, apporrioned for time spent on fundraising actltieS. the costs of running arml attending events and the c0rreSFd•n8 cost to gifts in kind. Direct payr1ts to tRfrArieS Lottery prizes Event costs Fundraising rdS and staff co Other c05rs of dritable a(tiwties Govemance costs £0.81m {2021: £0.69ml {2021: £0.24ml £0.04m12021: £0.01 ml £0.25m {2021: £0.2m) Other costs of charftable actmtles. £032m Staff costs and overheads associated with charitable attNities such as facilitating welfare payment& volunteer training adminiwaj0 ygnFJstin& aThJ befriendin& £0.32m {2021: £0.31m} £0.06m12021: £0.04m) Investments Our irents totslled £13.08m at erf a decrease of 8% on the 2021 dogng t¥0n of£14.25TfL Despite a dedw In the market dur 2022. irNestments contsnue to p•form 11 cNer the lorE term both in tem)s of capital and incorne. and are diligenty mOnOred by Ouf Investment Commrttee in accordance wth the charitys Investment Policy (see page 17 forfvrther information on our 4IPW2022 11
Risk Management The Trustees and Executlve Management Tearn (EMT) have th15 year changed the approach to rlsk management. In the context of rnana8in8 rlsk on a more proactlve basls we have spllt the rlsk5 Into Strateglc Rlsks and Operatlonal Rlsks. 7 strategic risks have been identiftd and are owned ard wewed ty the Trustees. The EMT wll S11 be responsible for measuring and prowding operational controls for these risk& ClJr tradItnal approach wll CCtinUe for all other ri5k5. In addition the Strategic risks will aly) be alUated by risk appetite. The definr(hm and scale of these is set ou( in the following risk rable. Item Item Potentral Rlsk R15k Appetlte EconomK vdathity aThY0r markrf ecorKHrry declines 10 such an exrent that rerves and dde are severety affected leyj[r in a fflcant shortenlrg of rhe Sulabl1ty0f the char Inment IrKon dedlne In benefictary numte15 Imwdng raison of N&rAl. És41ty the chartys resew remain substant1 and may be f(xecasted to b@'urEn. The age profile of the ttrItieS nefidarIes mtyconiinue to Inuease espech?ltyYthere r¥ benefiar are drffkult tofifKI in a dectiningand fragmenred TrrKJustry. Purpose ofchariry The relLwance ofthe thaws actmty and in panicular reKwartt ofthe ¥fare offer dim(ntshes acr05S ihe industry Purpose ofchariry Abreach of wems or pr(e&S security or contraventH)n of legigatK)n resulting in loss of data. data beingcompromised or cfv ransom Securityand Privacy ofDara ion by kilOrS lrE to k)ss of opt tyji CLtrrent recruitmeni model Cre inwopriate ing to the inabilityto undertake reciu¢ttnent an an increased rate of income dedire. Industrysupport Oneoftr wtrKAesakrs IaravgJP[rt from the charity Indusrry Dedlne Material declire in yjpport for cf&3rityacrossall seaors of industrylReLiiI, Whoknle and Publishin8) 12 knnl Pwn2022
Risk Appetite Definition Risk Taking Vhere Ihe porenrial benefiis of iaking Ihe risk are sEnrfiiani agèinst Lhe Ilkelihood and Irnpaci of ihe risk which are Iimiied Where Ihe dangeisof the riskare SiffiKed and reasonably offseL eiiher by rhe opportuniues and advantages afforded Lry (hrfyin8 It or byelimlnatyngthec05ts of atUon5 and system5 needed to miligaie it Where damages of the risk aTe fair eventy offset by Ihe oppDnunitie5 and advantages offered b51 carrying li Risk Orientated Risk Equilibrium Risk Averse Where 50me risk Is unavoidable bui Ihis shOld be kepi to a minimum Zero Tolerance Vhere ihe naiure or impaci of the risk. 15 Such Ihèt 11 Is not accepièble Operatlonal Control Manasement Overs ht Independent Verification Further Actlons (K 2019 and subsequenr ImmenlI0n otactv)rts has reduced likelihocmj score. Moniroring Fundraising regulats.on Monitored monthty by Management and quarrety Investrneni Commftree RewewAnnLtalty Invesbment F¢Jnd Manager Benchmart( fvnd performance bi annual Monthty reporting via Welfare Depanment at Trustee Board and annualty at strat Rved quartety at Trtstee Board a1 annualty at Sirai Measurement ofwelfa spend tty type mon[h reportirE of data breaches. Annual Stern Dats Penetration eXerCe carrd our by rhird Party Separate GDPR risk matrix r&rifftd quarteity Rwew Cyber Ransom. i-: inSUrae annualty PenetratK)n teg condLKted extemal 3rd pany. GDPR audo cor&lucted Lyextemal 3rd party atTwstee Board aTrJ ènnualty at Sir8t &fvice has taken and their recomFFErKlat#¥s implemented,. Close irM)fvemeni of Wrther% to e¥wre complkince Code of RJThlr3ign8 Praaice. Recru5tmeni drNo | Vthkhw occur5flr5t Monlrored by incoming communKation and discts5sions Wth rrade personnel. Akn monitof new lesLslation eg. RbTrlrai%rE ReguLaior Rd quarte aiTnJstee Board aTrJ annualty ai Straieg QC ath.ce EO be uwlaied e¥ery 3 years or ¥thenever there15 a signfficani (JJar¢erty contact ¥th Wholesaler Managn8 Director and otlkr commercLal managers ErGure sen)r ¥•knoWr representatM)n on Incotne monitored and forecasted by industry sector ai Trustee Board and anNJalty at SEra nrKHifF#Jt2022 13
Committees &Almoners WELFARE COMMirrEE Ingrld Jones- Chairwoman David Hall- Vice-chairman Mary Fleld Colin Duke Marknn Manuel Jean Neill Darren Powell Terry Skipsey Roddy Smith Sam Whiteside Mylene Sytvestre (appointed ott 221 INVESTMENT cOMMIEE Brendan Fif£maurice. Adrian Hughes, Mike NeY4man. Ajex van Straubenzee and Claire Blunt. ALMONERS Adam Jone5 Alan Codclln Alan Lawton Ireslgned Jan 221 Alan Mottram-Playfoot an Pemberton an Purslow Albert Lovell Alexvan straubenzee Andy Brown Ire51gned Mar 22} Andrew Boyd Uolned Dec 22} Andrew Munro Uoinedian 221 Anne Mitche150n Annette Dodds Uoined Jul 221 Bob Thompson (resigned Feb 22) Carole Crocker Carolinejones (Res[ed Apr 221 Charles Hamess Chris Harri50n Chrfstine Southem Colln Duke Cralg Reynolds Darren Powell Darren Taylor Dovid Bowman (Reslgned Mor 221 David Chalmers IReslgned Avg 221 Oavld Hall Dad Holllday 03vid Ware {ResEned Nov22) David Winn Uoined Apr 221 Don Thompson Donna Dudden (Resisned May 221 t)orothyScott {slnce deceased) Elaine Wslliamson Farhad Pezhman Gary Cain IResigned Dec 221 Gill Webb Graham Bennett Graham Hales Graham Willo Grant Keogh lan NaOr Ingrid JorLe5 Jacqui Broadbrtdge Jean Neill Jeff White John Bradshaw John Chapman John Mu55elwhtte John Palmer John stranger(Reslgned Jyn 22} John Walsh Udned Jan 22) Judy Fnjmln Ken Chapman Kevin Jone5 Kevin Rance Kevin Whrtehead Marion Edgar IRe%gned Dec 221 Martin Manuel Mary Field Mike Bowker Mlke Buckmaster Mlke Hopkln5 Mikewalla Mike Walsh Mikewilliams Nettle Majic (Resigned Mar22) Nick Cadlng Nick Southem Pat Mayall Paul Foreman (Resied Jan 23) Paul Goodall Paul Latham Pauline M¢Donnell Peter McClur8 Peter Robinson IRe51gned Jan 221 Phy1115 Corner Ray Monelle Richard Burke Robert Broadley Robert Dnjmmond Roddy Smlth Ron Ru5hbrook IReslgned Dec 22) Salty Bardsley Uoined Dec 221 5am Whiteside Scott Llster Simon Meyer {Re51gned Mar22) Sue Abbott Tery Skip5ey Tim Prideaux Tom Rodger Tony Plnk Trevor Collier Val Chalmer5 {Reslgned Aug22) Vera Seaman Wayne Foster Wendy Ross IRe5LqnedAug221 14 Rept2022
OurArea Committees How we make things happen Tom Rodger. Operations Director HEAD OFFICE 7 Full-Time Employees Welfare Team restructured 2 Naiional Events Organised 3 New Corporate Sponsors 13 Advocates AREA COMMITTEES 12 ActNe area commiuees 10 Area committee fvndraising events 72 Members 22 New joiners ALMONERS 86 Almoners 184 Visits to beneficiaries "1Thank vou for all vour help and support. l ii'ill alii'ays irLba¢*ure and cherish vour kindne55 and go(Klness. Ble&s vou all." Total Surplus from Events ACE London & Northffn 14.184 22.957 East of End ChwlsDnas T¢ythYolWalkl CwryNl8hV 14.360 Wod Race Day s76 Old Ben Race 6305 Tyr[ Chllty Chèllenge Jun
Strurture. Governance and Management The Charlty The Newsvendors Benevdent and Prowdent Instituiion was founded in 1839 to grant reliefto members of the newspaper induMry Fn London. who required assi5ran because of infirniity. age or distres& The NewstrAid Benevolent Fund, the current name of the charty. is the occupauonal benpJdent for the circularior distribuiion, wholesaling and retailing Section of the newspaper and magazine trade thr¢JJghou¢ the Unr(ed Kj'ngdom. The charity is wdety known as NewxrAid and ha5 alwaJ5 been referred to. affettrtate. as Cxd Be Governance The Board of Trustees (who a olso direcror5 ofthe charrtable companyfor the purpose of CoMnY lawl meets rimes per annum. Four ofthese meetings irw0e a review and diKussion on finance, welfare, furKlraising and mafketing. The frfth meeting lakes place on the same day a5 the AGM, in order (o elect the chairrnan and wce chairman of the board a5 well as elecring the members of various cofflrnittee& The board currenty nominates up to fNe managTngTrustees of Old Ben Home5. an affiliated thariry. In 2(th. the tharity became an incorporated limited company and a charity regulaied ty the Chaf Commission. The company is established under Ar(Kle5 of A£soc¢atiOfL which is the Governing Document. Management The Chf ExecutNe Officer ICEOI is responble for the day- to-day management ofthe Nerd Benevolent Fund. Reporting to the CEO are the Operations Director. Financial Controller. Welfare Manager and Engagement & Communicatiors Manager. A number of the Trustees. forrw directors and industry colleagues, st on the s¢andin8 CmIee5 ¥thich deal wth welfare and Recrultment & Tralnlng of Trustees The board endeavours to find indmduals from dtfferent sections ofthe newstrade who are wlling to starKI as Trustees. Poteniial new Trusrees are put forward ro the board, who consider howtheir knOedge and 5li11swll benefrt the current make-up of the board. Voting is carried out by the membe15 present ai the Annual General Meeting where a ballot takes place. Tnjstees sfft for a period of three years before retirin& They mayseek re- eleaion for a funher three-year period. Each Trust rn[ have completed a Disi105ure and Barring Semce check as well a5 a DecL3ration of Inierest io aKMd any conflirt of Interest and an Automatic Disqualffjication Declaration. hjl Trustees undergo trainirE from an extemal organisation of charity 5pe(ialists and newTru5ree5wiII be subiert to an Indual programme on appryntment The role of the President is to chair Ihe Annual General Meeting of The NtrAd Benevolent Fund. The Trustee5 have prepared the report and accounts forthe year ended 31 December 2022. TNS reporr is a150 a direaorg rep)rt required ty&415 of the Companies Att 2CK]6 In pParing thts rep the directors have taken a(fvantage of the small companies exempiions prowded ty section 41 SA of the Companies Act 2C106. including exemptions nor to prepare a strategic report. The Chatty pr(Mdes Twstee Indemnlry Irsurance. Investment Management Invesunent Committee rneet Nce a yearwith the furKJ manager, Rathbone Investment Managemerhi wh whom we have a managemeni agreemenL Investments are reviewed in the context of our agreed Invesiment Policy SraiemenL Rathbones reviews the portfolio on an ongoing ba5 and pmmdes a quartertyvaluation and rew)rE to the Investsnent Committee members, which includes financsal Controller and the CEO. Tfustees are urKJaied at the board meeting fc41owing each IrNesEmem Commit& meeting. 16 {*{2022
Investment Pollcy The Trustees adopt a medium risk investment strat based on a diversified portfojio. Regulatlon The Chanty undeNands its duty (o protea the public includiftg vulnerable people. from unreasonably intruswe or per5i5tent fiJndrai51ng approaches and undue pressure ro donate. We do not furMJraise from the public (hrough dr-to-dr or telephone or face-to-face fundraisin& During the year a fundraising con5ultan¢ regulated by the Chartered In5tiDJie of Fundraising was used to send direct maFI appeals to other Char% rhe relationship ended after the year end. Our primary sources of income are donations lottery fees, and investmenr rUrns. The Charity has commercial relationships with wholesaler5 vkno collect monie5 on our behalf and these businesses urKlerstsnd need to Pfotect the public and have their fY•vn leS to th effettwhich N&ysErAd Benevolenr Fund regularfy reMew5. The objethves staled in our Investment Policy are: To produce the optimal total return balanced bet%en income and capiraS To maintain the real capital value for a5 long a5 possible whilst generating a sustainable level of income to 5UPPOrt current Charlble actThiities. To achieve an aTrnualised tc[ return of CPI plus 3% net of fees over the kjng term. The Invesuneni Policy also specrfEs that the InvestEnt Committee is required to consider the congruence of pocential irwe5tments wrch rhe aims of the Charity and current fijnd guidelines prevent dirert Iestment in companies which derwe MO (han 2046 of their tumoNEr from gambli tobacco, pornography or high interesr lendin& The Charity is registered vAth the Fundraising Regulator. Nef(her the Charity nor any person acting on behalf of the Chartty Wa5 subject to an undertaknng to be bou tyanyvoluntary scheme for regulaiing fundraisin& or aryvoluntary standard offundraisin& We received no fundraising complaints in rhe year. Reserves Pollcy The Charitys Reserve PolKy is to retain reseNes of at least 5 years cover for current expenditure I1& Publlc Benefft Tru review the aims, obiectNes, and attivities of the Charity at their meetirigs thr¢JJghout the year and corffirrTr that thry have regard 10 the Charity Commissiorfs guidance on putrAic beneft in planning future actNiry and rhai they compfied with their duty in section 17 of Trustees are mt remunerared for theirtyne and detaiLs of the Charities Act 2011. Further details of how rhe char Trustee expenses are shown in note 9 of the accoun has fUffild its objects for wblic benefr( are biven in the The pay ofthe execu(Ne management team is rleY Achiwnents and PerforrnarKe settion ofthis report. annually byrhe Budget Committee which a150 formsthe Remuneration Committee on the basis of infiaDon and other relevant factOf& Pay Pollcy for Sensor Staff The management ofthe charity is the resp)nsibility of the Charitys Trustees who constitute the Board of Direao and the executNe management team. Related. Affillated or Connected Partles Old Ben Horne5 (Charity No. 251629) Old Ben Homes 15 a separate charity regulaied by a scheme ofthe Charity Commissioners on 10th january 1967. IE Was NKorporaied on 12ihJanuary 2008 and the scheme amerKled on 1CthJune 2009. Donated Servlces From time-to-time publications donate acfvertising space to display a New5trAJ"d advertisemenE free of charge. Thi contribution is included in the financial Staterrn[S. See note 2 Ip251 The value of servtces prowded iryKAunteer5 15 not incorporated into the financial statements. Al volunieers are subjett to Disclosure and Barring Sern(e checks as ppropriare. The NewsirAid Benevoyenr FuThJ appoints up to fNe of the eleven mèna&n8Trusiees for Old Ben Horne5, each being for a perrod of three years. knual fpJrt2022 17
Trustees. Responsibilities Statement The Trustees (who are also directors of NewstrAld Benevolent Fund for the purposes of company lawl are responslble for preparing the Trustee¥ Annual Report and the financial statements In accordance wlth applicable law and regulatlons. Company law requlres the Trustees to wepare financlal Accounts (Scotlandl ReguL4tions 2(X)6 las amended) statements for each flnancfal year. Under that law arKI the prowsions of the trust deed. The Trustees are the Trustees have elected to prepare the financlal a150 responsible for safeguarding the assets of the statements in accordance with United Kingdom charitable company and hence for taknng reasonable Generally Accepted Accouniing Practice (Untted steps for the preveniion and detection of fraud and Kingdom Accounting Standards and applicable lawx other irregularities. including FRS 102 The Financial Reporting Standard appllcable In the UK and Republlc of Ireland. Under company law the Trustees must not approve ihe flnanctal statements unless they are satisfied that they 8ive a true and fairmew of the state of affairs of the charitable company and of the incoming resources and application of resources including the income and expenditure. of the charitable cornpany for that perlod. In preparlng these flnanclal ststements, the Trustees are required to-. The Trustees conflrni thatr. so far as each Trusree is aware. there is no relevant audit information of which the charitsble companys auditor is unaware: and the Trustees have taken all the steps that they ought to hove tskeD as Trustees In order to make theMSeS aware of any relevant audit infomation and to establish that the charitable companys auditor is aware of that Information. select suitable accounting poliaes and then appty them consistently. The Trustees are responsible for the maintenance and Inte8rty of the corporate and financlal Informatlon induded on the CharibIe compatys website. Legislation in the United ngdorn governin8 the preparation and dissemination of financial Statements may drffer from legiSL7t in otherjurisdlctlons. observe the methods and principles set out in the Charitles SORP IFRS 102}". make judgments and accounting eimates that are reasonable and pruden¢ In preparing thts report to the TnJstee5, who are state whether applicable UK Accounting Standards also Directors. have taken advantage of the small have been followed, subjert to any material companieg exemptions promded by seaion 415A of departures disclosed and explained in ihe financial Companies Att 2Cfi. statemen ApprOEd tythe i)ard ofTrustees on 26th April 2023. prepare the financial statements on the 8oin8 concern ba515 unless it 15 inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequare accountlng records that are sufflclent to shi)w and explain the charitable compaWs Iransactions and disclose wth reasonable accuracy at arytime the financlal posf(lon of the charitable compary and enable them to ensure that the financkal ststements Tracy O'sullivan comply wth the Companies Act 2006, the Charities and SEned on behalfofthe board ofTrusrees. Trustee Investment (Scotland) Act 2005. the CharrtÈ5 18 P4¥Nt2022
Independent Auditorfs Report to the Trustees and Members of NewstrAid Benevolent Fund OPINION We have audite(J the fir0111 sratements of Nev+r Benevolent Fun(5 {the'Charrtab cornpaty)fOrttyear ended 31 December 2022 comFKise the statement offinandaj act[ the balarKe sheeL the statement ofcash arKI notes to the financlal ststerrnts. Includwga summary of SnIfican[ accounring pollc(es. The firknrKo1 repwtingfrarna4rrk rhat has been applied in their preparation is ap1(atIe L and United Kingdom Accourring Standards. inchJding Fwwcial Reporbng Standard 102 The Financh41 Repjrring stsndard applicable In the UK and Repu oflrelaTrJ (Urthl KtrE&Jm GewaltyAccepted Accountsng Pracucel. aTrY our aUd0¢S report thereon. The frustees are respon51ble for theother infowNotDn contsinI witlmn the aftnual report. r opinlon onthe finarK411 statements does cover the other informatyon a1, excw to extent otherwi stsied in our rep(xL do not express aryform ofassuTrnce Cxjrrwitllfy is to read the othèr infomation and. in doingso. consider whetherthe other infc¥mion i% materfalty Ir0sEen[ ¥th the firr131 statements or our tredge rAxained In the c(¥Jrse of trtaudii or otherwse appear5 ro be materfaltymL85tated. identifysuch matrrwl IrKonsisteTKles cYappareN material misstatemens are required to dwermine thether th6gwes rse to a matsrk41 misstatement In the finarKial statementstheMSe If, based on thè work 14t perfiwmed.wE conclude thatthere 15 3 Tllaterial mss1 ofihL5 infonmation, we are required to repcmt that facL In our oplnlon the ftnatKlal at£Ynent> gwe a uue and fairwertofihe state of the dthab companY5 affairs a5 at 31 December 2022 and of Sts incoming reswrces anij apTclOft of resource5. tncluding its income and expenditure. forthe yearttEn ered,. have been propety preKk4red in &cordance h?th ngdom Generaltykcered kcounung Prac. and hwe been pPared in accordarKe the reire[S of the Companies Aa 200& rhe chare5 aTvJ Trnee Investsneni Iscotjandl Act 2CX)5 reguLation 8 of tt Charitie5 AccountsiscotLindl RegulatiCffi5 26. We nothoto reFKJrt in regard. OPINIONS ON OTHER MATfERS PRESCRIBED 8YTHE COMPANIES ACT 21X)6 In (Mjr OnI0 based onthe I)rk undertaken Intr course of the aj the inf0rrW 8Nen in the Truste report (Irwrxjrattngthe dire(t¢x¥ reKK)rtlfor the finandalyear fOr+¥th financ(al 5ts1emEnts a prepared Is cony#Ènt thefinarKk31 wtements,. and director¥ rep(yt ha5 been [repad in accordance ith aFf4lCab 1 re]UIrerQnts. BASIS FOR OPINION We conducted our aud In ac£ordarKe%th Intemaucoal standards onAJdlUnglUKI I1 (UK)) and aFPlIcAb Lv4. Our resFonsibilitie5 under those stan¢Jards are furtherdescrited In theAudttoffs responslb51ille5 forthe audff ofthe fln2ncL31 statements settion ofour report. We are IrJTrYent of charitable company in accordance I[h the eEhKal rewiremwts that are relevantto our audit of theffinèndal staiemenTS in UK Includingthe FKS Ethlcal Standard. and havefulfilled our other eihical responsibiliL¥es in aCcordanWith requlremenr5. We beli that the audit Lmdence h obtalned Is sufficlentarKJ appropriate to provkje a baf(mr opinion. MATfERS ON %VHICH WEARE REQUIRED TO REPORT BY EXCEPTION In the118h10fwrhe understandingofthe chartstrAe compwy ffs ermronment Oained in rhe course ofthe aurf¢ hkn Iderthed materkl rn1&8tètemenrs in the ire£tcK¥ reporL We hwe ncthing to rewrt in respect ofthe foiknw"n8 marter5 in rd&h)n to %•knith the Cotllpanies Att 2LHJ6arKI the char kc(yJnts Regulauons 2006 reqLtires 10 reporrto rf. in <vJr opnN) adwie èr¥J prw Kcounrtng rL¥S not been kem or Teturns &Jequate for our audit have not toen recehd frorn bt3TKhes not"ted or ffina1 5tatemern5aTr not in ayeementwlth the acwJnting ld5and retums.. or cenèin dsdwres ofdirectorg [ernerthn Sffied tryLw4 afe not or h•& r¥)t receThd all the infcffi10n and eWanatyon5 p reqtsire fL¥our audL or theTrusLeesv+Ere [1 entthd to prepare the finats1 statements n ac(ordaTKe small companie regimearmy take advantr8e of the small cornpante exemFoor6 in preparmgthe director¥ report aTrY fro requirement to prepare a stratryc reporL CONCLUSION RELATING TO GOING CONCERN In aUdng theffinanoal ststements have cded tr{the Trusteeg use of the gng corKem t)ag5 of &ctyJnting in preparatlon tsftt finanoal statsments L% apwLwTlate. any materi41 urKenaintie5 rektingto £*nts or conditiorsth Indmdualty (x collectlvety. may casr signfficant drMJbt on the Charitse compatys abilrty to conunue as a gtyng corKem for a period tsfat least rrK)nths fromwhen the finèr1 ststements are authorised for isstje. Our resnSIbilit31 the iesporrit#Thu"es of TeesYth respett (o going COnrn are described in the rean(sectiO[ of ths pOrL OTHER INFORMATION The othe¥ Informat c(xnpYsesthe infOrrn&l wude0 in the Tnjstees annual repJrL Other Ihan the finats1 5tètsmems P4tyNt2022 19
RESPONSIBILMES OFTRu¥fEES s explained tnoie fulty in the Tru5tee¥ resbIles statement5er ouion pa8e 20. rhe Tru5rees Iwhoare a150 tr ¢Jirectors of rhe Char(ab ccffiparyfor the wrposes of crMry)arty Lvlare responsitAe lorthe yeparatiC Of finara and for bdngsatisfied thartygrft a trueand farv4. for 5u(h intemal contrd astheTfLLtees(temire isrtYess3ry¢0 enaetr preparatnoffrftylernthJfreefr( 10 the accouMrE policies adcpted arnl In ¢Jeiertnlnlng sEnfficani accounting es¢imates. Rewe¥srg rninutes of Trustee 8oard meeting5, arty crAresrA)rKlence b%ith Ihe Charty Commission and OS eelngthefinarKlal %atetneni dsclosures ¢0 urt£leWng ppc%Dng dCKtJmen[ati. erwuiries ofmanagemeni and officers ofthe Chafirable Compatyand a r0fthe fisk rywwernenc proces5e5 and prcKedures in pL4ce. We a150 red WlKedures in pL4ce for reporrin8 ofary MidentS rotheTrugee Board indudin85eriou5 iKident reFNXting of these mauersas necessary wtEh Charilycomrnissonar OSCR. We hwe obtained Evidence ofthe lice renewa15%thth allchv il Charityto continue to operate lotterE5and we fourKJ Thj ede that Ihe thwity had breached these li£er In pieparlng trflnanclèl STaiement& the Tntsteesare responsible foT asSeSngthe charitable companys abYt0 ConnUe as a going£oncerry di5d05tn& as aPp4Kats. rnatters related togoing concem and usingthe goin8 C1xern ba5t5 of accounting unle55 the Trustees either iréend IKiuidaEe the charitable company or 10 cease Operatr& or no real1C altematNe bur to do so. of thè inher limitabons of an audi tr5 a r15k that11 ¢iot dEtectall irregularibe& uidudingthose leadlng to a materfal mlssraterneni In the financial statements Of nortr Com[e iegulauon. This rsk fftueases the rn that Com&re or ieguLation s nThed from the events andtransaci1ry relleaed In the finarKsal Stalernen as we 11 be th liketytobecorne aware of iraeS of norpcompliance. The risk 15 aly) greater re8arfn8 irreguL4rffiès ocoJrring dve tofraud ratrErthan error, asfraud in¥ve5 intentional coeanen[ ft)r8ery. c(AIu5k?n, omiwon or miSrepsenmI0n. AUDIToifs RESPONSIBILITIES FOR THE AUD OF THE FINANCLAL STATEMENTS Our obleLfjves are to obrakn rea)nable assuraKe whether the flnanclal statementsas a whde arefree frrmn rnaterial mi55raterneni whetrEr due tofraud tyerror, and to issue an auditorfs reportthac irKludes 0uropinM. Reasonable a55urance is a high Ie1 of assurarKe, tr#Jt is n¢xa guarartee thar an audlt condurted In accordanceimth ISAslUK)ill detect a material Thsstatement when it exs& Msstatewits can arlse from fraud or error and are cwdered maten if, 1ndpddual0r in the aggregaie, ty could ieascKoWbe expetted 10 Influence economic deciOn5 ofuserstakn the bags ofthese fyvndal statement AfrJthrdescr¥)r reS[Kl11S 6&ailab& on financial fteporung Counots websffe aL w•M.frcorg.ukl authtorsrespcm"litse& This descripu(Jn for5 part of our auth1c5 repr Irregulare& InclLLling fraud afe Irstartss of %vrth kws and SU&lor. Wed&i8n prLKedures#) lineimth USE OF OUR REKIRT rponbIlitieS outlined ab(Ne. to detect MarIal msSurInIs This feptht s made So¢0 the thariraNe cornparrf5 member5. In respect of Irregularit. IncludingfraLKJ. Theslf¢ FKOtedures as a boty. in accord3nce %•rfh Chapter 3 of Part 16of the forthis engagemeni and extetKtowtMch these are capat4eof Companieskt2(MJ6, and tothe th3ritable cornpatys Tft ¢Jetetting irregukriDes indLKlin8fraLKI is d3kn5 as a W. 47 accordance ReguL3rion 10 ofthe Charr(ie5 kc(xJnts (Scoand) RegulaOon5 2(K. wdr( work ha5 been undertsken so thatt mightstate to tharItab cornpaty5 memttsaThJ Trusteesthose matters weare required to sraie rothem in an aud05 reFwJT and for no other purp)se. Yo th&fUlSt exteni pem)itted ty law, we do noi accept or assurne re5wnsiL¥ltyto anJTh)e other than the charitable comparty. the charitable cornparrf5 Tnembets as a bo(tyand the CharibIe companysTru5tee5a5 a bL¥ty. forouraudit forthis repo f ttE opinKx5we have fomd. We gainÈd an understrnrfing of the legal arKI regula fratnework applicable to the CharIrab Cornpanyand the 5eaor In whKh it operates and consdered the rkof the Charffable Company not COMp"n8wth the aptAKatAe arxl re8uL4uon5 indijding fraud in Pafticular those thai coukl h a materkl Impart on the financfal st3temern& Th15 tncluded those reguladons dlrecty rekted to the1ftar& statemems Includlng financlal rerring which ccwld a material inTJ on the financLal statements. In relati to owatiorG of the charitab Comparyths inchJded Complian Y•ththe CompaniesAa 2(. Charittes Act 2011 and GD The riSksWe d¢scLssed the auilitteam remained alert to arry indKations 0fnon<ompliÈthroUgt audL We carried oui 5pecffic prLKedure5 to addressthe rtsls denufied. These Included thefoll(X41. ManeMent o%rrKle.' To address the rtsk ofmana8emert overrkle of controls we carrled outtestlngofIwrnal entrs and other adjLStnts f<K approprkteness. We reed werrs and woceduresto 1tintsfyFniIal area5 ofmanagement override risk In parfcusar. * carried cJt testing ofj([r71 enrriesaryj othwadjustments f Halgna &Ik1$0nlsi0rStatt0ry Audr£orl Foraryj on behalf of Price Baity LLP. SratU¢Crydffor I Cay5e*W HSe. Dane SrreeL Btstrw¥Stortford Herdordth"re(k123 38T 30 June 2023 20 AnnUpt2O22
NewstrAid Benevolent Fund Statement of Financial Activities (Incorporating an income and expenditure accountl Forthe year ended 31 December 2022 G•n•ral 2021 Tot•1 IR•statedl Income Donations and tegacies Income from other a(tMues Invesunentand other in(¢yne 355.010 1264.419 413343 5630 265.464 1.135.0 349.543 1264.419 413,343 Totsl irhcom• IOa7ll 103&402 1.75Q007 ExP•ndire Costs ofraislng fiJTrJ5and CharftableacriviiiES- Other CharitaNeoaMOes.Wdfare payTnerts S27.7S3 1IOA91 1J)447S9 527.753 110A91 ImllS9 450306 98.539 937396 Total •xp•ndi¢ur 1.687.IM13 1.noA03 1.486.241 Nèt incomo before otherrKognised gains 4nd1055es Realwl g&i disposal offirNestmts Impairnient Unrealsed Ilossygavk on ty&uion 0f1msrn N•t incom• 345.769 Q7.7701 317.9YJ 263.766 2,595 P3081 1.117398 15 11,543,6591 11543,6S91 11.187.921) (27.7ml 315.691) 1381A51 Gross trar6fer5 betsten ftJnd5 N•t mov•rn4nt in funds 17 U4.563) 14563 11.215.691) 1.38IA51 Reconcil¥?tion of fund5 Toral [dS bmu8ht foard 11677.651 fAJS667 48352 14331. 11950239 Totèl carri•d forn•Yd 11m.167 11114999 I41. The $tÈment offinala1 actilS (ncludes all gainsand Te£ORsed the)wr. Atl income aftd eygendlture derf¥e from contirnEingacti4Tht6es. The notes on page 24to 31 form partofthesefinawKialsfatemenr& rrf¥JaRepyt22 21
NewstrAid Benevolent Fund Balance Sheet as at 31 December 2022 21122Totsl 2021 Total {R•rtat•dl Fixed a550ts Tawbleassets Investments Tot41 Fixgd As5•ts 19.750 T3.075.IC6 Iirr34.856 10.270 14.248,925 14.259.195 12 Currentass•ts Deb¢or5 Cash at bank bnd In hand Totsl CurrentAsset5 13 13&826 167.730 146226 177.fY)7 Liabili114S Creditors fallingdueithlncfieyear N•ttyrront4$5•ts 14 (28&4131 1250.7381 71495 21.143 Ne¢ts 14115.9Jg 14.331.6 Th fuftds of th• charirr. Unrestritted fund5 Deygnated ftjnds General funds lnve5trnthtga1nsDd 591480 605N7 103.538 4574.113 9A4713 330.454 15 12A75,167 48,352 11111999 Restrfaed funds Tot•1 th•iityfvnds 48.352 14.331.6911 17 These firtancial statemonrs have beenprep¥oJ I(0darKe ith tl wthistortsof Part JSoftheCornpansA(t 2(K relaUngto small companle& TheTh)tes on pages 24 to 32 forrn part ofihe5e finar#ial uemen The finaM31 staiements on pages21 to 32 reapprrtsYtheTweesaN for i59Jeon 26Aprll 2023 signed on thrthaWb. Neil Jagggr Chlef Exe(sJiweOfficer Trary 0StsllNan t*rect CoThwnyregfjteredThJmbvts05973987 EW5h<hJrf4y re8tsreted mber1$ 11768P4
NewstrAid Benevolent Fund Statement of Cash Flows For the year ended 31 December 2022 2021 Total Cash providqd byowotl•rtI¥lkn•S 1893241:. 11132141 Cash Ilows from investins activiti•s IrNestmentand interest income 349543 Pufth35e of iangSbte fixed assets 115.8611.1. 14.4521 IrNesbnentkldiTiC (36fi8841 1278.9061 49.449 9.984 Cash Bqnoratgd by ln7nStbactl¥1 76.169 ea$ in ¢•sh in they (92rn': (37.0451 Cash at the beginnlngoftheyear 177.W7"' 214052 Totsl cash atth••nd of th•year 167.730 177.Q07 The notes on pages 24to 32form part of ttse fiDaNi statem
NewstrAid Benevolent Fund
Notes to the Financial Statements
For the year ended 31 December 2022
The prtncfjpal accountingpDIe$adopted1UpMentsaThJ k
sources of eSuma)n uncertathtylnthtprepradonof thelknandal
sraiemerttsateasN
datert 0fmanagdTV& The %aterneDt ofFIDanAll1es
s net801al k5se5brEOntLII)Dand disp)54s
1. AccounUn8 Policles BastsolPreparndon
The (3r3 Berfrt ENitYKIt sts¢errshtyE
been prepared in (dnceiEhknOunDnsalld
SraremenE of Recornrnended PratDceappliGibletoihams
finan031 sthtements lnaccordancevIhts rorlI RertI
Urab in the UKand Republic of1re4nd IFRS 102] leftettpe l Jan
20191_{r Char SORP 2019k TheCharÉA(r 2011 (har¢¢5
3ndTrustee IrThenE1Sctsdd>kn 20)5arxSRwJLws6af 8of
ch¥ab conpirysexeryfrom colporabontax on irKornean
rtsts1in8ffihin5ecE gOSofthÈTaxesAa 1988 or 5ecthJn252 ofthe
Taxaw OfChar¢atAe&7g 1992 [ottextL1atLtSeareawIed
Tr%VaOIserSeS Fxthided tyK•Jnreersi5 TrxIorpYlled intothe5e
finlaIv5lll èttNdèrfecharthss0Rp. Fur1 drfaiLs
ofthe
- Incom•from Donations and Le8KieS 2022 2022Total Donatttsns Gifts in klnd 32%2 &630 3XJ,632 355,010 2021 unr•strIrt D•5iywtsd R•strict•d 2021 Totsl IR•stat•dl Donatlons Gifts In kind 1363 &203 261J66 1898 257261 8,203 D•Signad donation5 During 2022 ihe tharity ¥EceNed £5,630r2021. a898) fr frJthrsw)gwdwt tytheAS50¢iatw ofClrcuLaOon É¥ecuiNts IACEIto support the Chrf5trna5 thildrerfs 8ranE. Gifts in kp)d relates to alfven"81n kaOn5 roartrart berIdar1e In 3CCOfdance wlth FRS102 artd the Chariiits SORP (Ffsii)2k thee£0Th c(¥th of8enwal4dwffter5 is noi recwised In the accounts.
- Incom• from Oth•rTradin8 Arti¥itses Unr•StrIrt De¥xn•tsd R•strict•d 2022Total 2021 Total Membershlp Area Cornmittee (w)drafyn8 Events fundralsl 70 1205.310 59.039 126V19 70 1.121182 12.748 1.135.(MlO 1205310 S939 1264419 I Income from other trathng3ttv*itye5 in2021 etedt0 UnregJKr fwth. Inv•stm•nt and Oth•r Incom• 20217otal InefroM guoted In¥estm Bank d t sntsrest 413202 413202 349.517 26 349.543 413343 413,343 All invethentand crtherincme in 2021 rthted t0tsnresred
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Ctssts ol R•isin8 FundsarA Othwlnrom• 2021 Total Area Committeèfundral&ftg(c6ts Events fundraislngcosts Other 455.725 37549 34.479 455,725 37,549 34A79 433.307 8.796 8203 costsof raithgfimd5arMI otheriKtyYe in 2021 related tourESts ea CommitteelwvlraL•ngcostsJndude wlzes pad in totslLterie&
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Costs of Charitabl• Arti¥ity•s Unr•Strirt De518Mt f¢•5tric¢vd X12ZTotal 2021 Total Cost of raisin8 fvnds 110.491 110.491 All eosts of tharirae athilles In 2021 relatedto unresrricred hmd 110.491 110.491 98.539 98.539 7.Tot•l Exp•ndIr• Costs of Costs of Rai5iD8 Charitabl• V•1• Inrom• Adiviti•s Support Costs 2022 2022 Total SEaff cosis Fundraising cosrs GO¥eMan costs Othercosts Depreciavon Support (ts 19.947 27fi3 133.043 266.IS9 419.149 276.903 56,551 961A19 6381 551 117.340 6.381 144&4311 814071 24S536 527.753 1.191650 1.720A03 Itaisin8 Charitabl• Vdurtary In¢om• Atti¥iti•S &Jpport Cost5 2021 Total Sraff costs Fundraising costs Gfftmancecosts Other cosrs Depreoarion Supp¢rt c•s¢s 17231 24S712 12S224 244.782 387.237 245.712 43.682 801504 7.106 43.682 102.$65 7.106 (398.1351 691.736 179.1 218.975 4503 1.035.935 £30.0081202T: £8203lwithin costs of rai5Nyvoluntsryinc)rt*relates togifts in bjnd. 1A84241 &Anafytsis olGov•rnan¢• ind Support Costs 202ZTot•l 2021 Total Go¥ern4nce msts compri5V. Legal and professional fees AuLlit and accotmrancy Meettngcosts Annual reportaod accounts 15,499 16.756 15AIS 9274 1337 14.483 1,129 56.551 Rai51n8 Volunt•ry Incorne Charitabl• Artivity45 2022 55% 2022 Totsl SuppDrt tosts ar• allotat to thatitabl• attIbi•S follow Staff costs Staff training and retru¥tmenr Seruormanagerexpenses OfflcÈoverheads Computers Lease tha Adverti$ngand promooon G¢J¥eman costs Webstte Depreciav 121827 1.264 1SQ122 1.545 271949 1.253 69.189 31.135 10.786 X054 13.182 1.232 S974 31.103 126 1240 10.862 551 229 381 446.431 103 Z872 26
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Analjsts of 6owmanc• and 5upprt Costs l¢oniinu•dl Costs of Costs of Raistng Ch#ritabl• Vdunt•ry Incom Activrti•5 45% 55 2021 2021 Total Support costs ére all0¢•t to dwritabl•actNiue545 fr•N)¥ Siaff c05r5 Stèff iralfjlng and fe(ru61meni Senior rnanagereXpee5 Office overheads Compuiers Lease tharge Advertising aftd Governance costs 111.283 1¥013 Z239 197 33.437 11805 1.399 4582 24.025 370 247.296 4.071 358 161 27.358 lQ476 1.14S 3.749 19.657 301 60.795 1544 8,331 Websiie Dewlati( 671 3,198 179.1fAI 7.106 398.135 4975 Supporr costs of generating fvjnds are allotated to fundraising ebEn Support cosrsofcharib1e aCDThareallocated beMeenwdfarePafiWandgaiftBJncOthnz resour1n ts rauoofSSAS
- N•t Incom• forthg year 2022T•tal 2021 Total Th15 i55ta¢ed af¢ercharyns Operating leases- equiprneni Depdat(c Auditof charitable tompany Twstee<rembursed experse5 2240 6.381 1544 7.106 19.500 797 Durirg theyeor4P021:01 trU5tees*ve rembwsed fortraTr
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Staff Costs 2022Totsl 2021 Totsl Staff costs %re as follow5.. 5alarlesandwage5 Sockal secvrity<OSts pS1On contrknjtions Total •mDlum•nts paidto staft 365A68 37.075 16.606 419.149 336563 33.134 17.539 One eMployeeeed betweÈn £70.(W and duMgtheJaraThJ one emkn earned be%£60.(0)3ThI £7( 12021.. one Employee earned beN¥een £70,fYJ)arnf £80,CW The penslon (0ntrttty0n$ paKI by theconyrywth rE8¥ds tothese uryloywwasQ630 (2021.. Enli The key management personael ofthÈchar¢y. comprlse theTnJ5Te& the(hfEXeCrye Offw,Operai(on5 Direttor.wdfare Marger, Engagernenl &Cmun(CaonsuaDdg2t fmanclal Contydler.Thetotal ernpwe betkefits ofthe keymanagemen¢ perx*net ofthe (haty%re É293.65812021:£MIW5IRe5rared)I 2D21 Numb•r Nurnber Head OffKe full dmeequlvalent Head Offke iotal head courtt
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T•n8ible A55ets Olfic• FixinB Comput•r Furnitur• and Equipm•Nt Equipm•Trt Total CosUV3luatlon At t january 2022 Additions Dlsposals At31 D•¢•mlxr2022 31.020 J5,861 110751 36.880 1SA61 110751 Deyedauf At I january 2022 Charge for>rar Disposals At31 D•C•mrI022 1983 934 23.627 5.447 0751 26.610 6,381 12.0751 30.916 1917 Net Br)kValue At31 OK•mber2022 17.807 19.750 At31 Docembpr2021 18F7 7.393 10.270 11 Inv•strnants 202ZTotsl 2021 Total Quot•d invsthients Markerval at l Janu Addiiion5 Dbsposal proceeds Gain on d4sposal Of1eSunts Unrealised IlossV8ain Movement in cash held M•rk•tvalu• •t 31 D•c•nh•r 14248,925 11864,433 274906 19.9841 1595 11.543.659) 1.117.398 42A36 14.4231 1107x106 14M925 149,4491 Costat l Jarojary Additions Disposals Cost at31 Oecembqr 9599.5 9.328,287 278.906 139.4801 3881 9927209 9.599.805 Quot•d investnTrnts areallotted toeath r•th8a as follo kn¥stm•nt Fund Total 2022 9.Wn209 9.927209 9.599.IM15 4.599.$ 2022 Total 2021 Totsl 11541.y9 11718582 The investment bsvalued netof ma1wgl Managemth5[rthe >rartotsl £IIy1439 {2021: £111.0111 The charitypwwheld IlThof the¥othry riBhts andtharewinl ¢)fOld Ben Lotterle5Lwntted. Old Ben Lotteries Umtted was dssow on 15 Jure 2021. fft¢Wthe companywa5domwNand regstered in England. In 2021. an ImpaiThentof£2308wa5re(wtsed respettof(Nd Ben Lrtyie Old Ben Homes Llmlted la cornparryllmlted by8uarwrtt number(6ll9361 The charity does not have the abiltyto seek io control or knfluuKeihe aamtiesofold Ben Horne5 Umked.ahough thtles are alLgned. Thecharityexpecls to [ece rKidwert benefii from Okl Ben ifjmml and xcountsfu Its Interest In Old Ben HDmes knmited at C1£
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Debtors 2022Total 2021 Total IR95Utgdl Trade debt• Other debtors 76.9)9 24.e69 37.248 1¥826 76.719 25,829 43.678 146,226 Prepayrnenrs 1& Creditors Duelyrthin On• Y••r 2022Tot•l Z021 To¢al Trade credirors Othercredknrs PAYEand perln$ Actnrak 3.979 194.535 181647 9255 57.172 77.045 285.413 Included within othercreditors isan amount of £5,93412021- £5.9341 in relation to W5tarU a fomiw restdentof Barne5ron Co Care home. Th6s arnot i% btyngheld pendin8 compleiion of WSt*Sngs probaie.
- Inv•stsn•nts8aiRsfuTh15 2022Totsl 2021 Total At 1 lanvary (Lossygain inyear At 31 Dqcernb•r 4574,113 11.543.659) 030A54 3.456.715 1,117.398 4574113 1&Anatysis of n•t aS5•ts b•t¥M•n fvnds A•5trirt J st•el• 2022 Total Unr•strict•d D•5i8nat•d 2022 Furtds balan a¢31 Decembw 2o22arerewe5tttsY. Tanglble fixed assets IrNesMtents Currentassets Creditors.. amOUntsf1S due iLl¥nix 19.FAI 1148Z626 254204 Q85.4131 11475.167 19.750 13.075.106 306,556 {285.4131 48.352 11115.999 S91480 48.352 Unrealtsed galns knduded atTht: On investynenrs 3.030.454 3,030.4S4 3.030.454 Reconaliatltsi o1>¥eMents1n lreagain Unreali5ed ga¢nsat 11•)uary2022 Revaluauon intheyear Unrealisqd yin5 •t31 DMber2D22 4,574113 11.$43.6591 3.OIA54 4574.113 11.543.659) 3,030.454 P4)Jt2122 29
16.Anatysis of n•t ass•ts b•t••n funds{Continu4d) J 5t••b• Total 2021 Fundsbalans at31 Dffiber 2021 jrE¢S¢ted by. Tangible flxed assets Imiestrnents Currentassets Credirors.. amounts falllng duevlthtn oneyear 10.270 11641238 274.881 P50,738) 11677.651 10270 14.248.925 323233 P50.738) 44352 14.331. 605.687 48,352 Unrealised galnslnduded ats: Oft investments 4574113 574113 4S74.113 4.574113 Rttonoliation ofmovements kn unresed Unreallsed galns at I lanuary2021 aluarion sn the year Unr•alisod8&ins•t31 Darnb• 2021 3.45&715 1,117.398 4574.113 3.456.715 1,117,398 4.¥14113 17. Analysis of Ch•rit•bF• Funds Brought Forward Urrnlis•d R•ali5qd 6•in Gain Impairni•nt Tr4n5f•rs lTrcom•Exp•nditur• 2022 RestrktedfubykJanÈSteele 4&352 Total restrirt funds 48352 44352 De$48nated fvn¢ts ACÉ iZQ193) 113207) 14.563 Legacyin¢ome 60&667 Total d•signatedfunds 187 592.480 14563 General funds Total8•n*rthl funds 13.677.651 2.032.772 11.687.C03) 11.543,6591 11677.651 10317n (1.687.3) 11543.659) 114.563 11475.167 11475.1FI Total fun& 14331.690 103W2 0.710 {tJ41ffj9) 9.969 14115.991 Brought Forw•rf Incom•Exp•nditiw• Urrnlis•d R•aliMd 6ain lryairrn•nt TraMf•rs Re5trEcred fundslane Sreele 48.352 48.352 352 De5ignared fijnds ACE Legawlncorne 60%687 Total d•si8Mt•d fvnds GI01 1193871 1&489 605,687 119J8n 15A89 General fvnd5 T•tsl al funds 1129&2(KJ 1.746,109 11.46&8541 1.117398 11296ml 1.744109 (1A6&8541 1.117398 1595 113081 115.4891 (IXXI {15A891 11677.651 11677.651 Totsl funds 11950239 1.75Q(Ak7 1IJB62411 1.117398 14331,69Q 30 NTrKJ4Rwry¢2022
Purposes offtestrirtd Funds The fund wa5 set up th a le8acyfromlaneSteele. tt istobeused ftrgranlin8 intefe5t free loan5 forhMie hnprovements t beneficlaries. to be repaid on ihe sale of the woperty. Purpos• of Dwi8nat•d Funds TheACE Chlldren's fund ftnances rhe regvLarkndfare donaiicts TO famIl¥th ththjren. The defidi on the fund Is made up from the volfare bLtd8et on the 31 clemberea(h year. Legacyincome relates to funds bequearhed to NEAId in the1 ofthe te Harry Harnm¢N. Ouringthe year the Trustee¥ approved the redesignation of the late HarryHammorKfs le8acy from fvrts thfailablefor aryfUbyel1ld1n8 projeo ro fvnds avalkble for gener samaritan 8ranr Unrealised gain5 The investment gain5rewe5eht theaffnr tythich irfvstrwits exceed tharhiryorical The Gen¥al Fund5 are thefree re5ertoftwallolng for lde98rthtedfiw 18. P4n5ions The charityconErlbuies 10 3 denned Contr1110n S(herneyAth is avalb to all ofthecharitys employeesaged 22years and over. Contrtbutions are tharged to the Statement ol Finan0 Aawittes as InoJrred there %re nooutSEanf&ng or proposed contributions at the balancesheetda. PenOn cosrs In the)Earwere£15(202l.E9.lS8I•ttd thearnots rndInat theyeareTrJ w•t£nl12021'. £nd). financial Instrum•nts 2021 Flnanclal assers measured ai fair valuÈ thr wofit wloss Flnandal assets measured alam0Sed c Financialltsibllittes rneared at amOrt cost I3,0,1{ 263.847 14.248,925 274.094 11915661 Flnanc131 as5 measured ai farvalue through wofit or loss compr15e5qUOted invÈstmeThts held as al 31 Decernr 2022 (note 121. FinaKial assets meayjred atarnorU5ed c05r comprises to ornt assets less prepoyrnents andlane Steele loansl£5,461I (note 131. nancial Ilabiliues ar afftortysed cost CoMprtsesued due in lessthon rIe$S accrua1s1Th) 14 2ty Oyratins L•a5• Commitinents Thecharitys fvtwe minimurn lease PaYrare a5fdlty Operatyng leases1 e4re: thin oneyear Between one and fNe)wrs Land and buildinB¥ 2022Total 2021 Total 31.(3 31.063 63A21 Othgr 2022Total 2021 Total Within one year 1115 1300 1115 21. R•lat•d PartyTransactiowYs There We no tranSactioTrs lJd een Homesand no transactrffis In the Nore 12 pro¥fdes more inforynaiim regardkngthe rthtionship beMen Ne%whid Benthrlent Trjnd and Cld Ben Home During theyear the armunt refved from Tn&ee5aThJ asSla idated panie5 Kntedt0 £SIIK13(2021 . £3.(KKI Rep>ta)22 31
21 M•mb•rf Liability Ne%AId Benevolent Fund Ls a companylimithd tyguaranrec kn the e4rntof a irKN8vp, the Iwbiltyofeach memberldlrettorl Is IlmlrEd to£1. 23. R•concitt•won of n•t mov•m•nt in fvndsld•bt and n•t mov•rntin funds ¢0 n•t Cash Ilow from op•r•wn8 a(tiviti•5 At th• stsrt of th• y•ar At th• end of tha year al n•t m0Mnt in fundsld(tbt Cash at bankartd in hand Nt lunds 177.CI17 1TI.007 (9,277) 1927T) 167.730 167.730 XQzT0 20X Total bl eternent in fvnds to net flowfrom operatingxtsVi•s Net rnovement in fund5 Add backdepreciatk>n char8e Add back profit on d15POsal of InvesEn less unWIdI05{goin> on 1ftve5trnts Interest Income shryèm in insstin8athiDes Decrease cash hejd at InvesnE managu5 Decrease in debtors Increasel(Oecreasel in crerfrtors N•t ttssh providgd by op•r4tinB •thi¢WS (121S69111 1.381A51 7.106 (2.5951 11,117.3981 (349,5431 4A23 2,733 139.3911 {1132141 P.%91 1543,659 1413.3431 1414361 34,675 189.3241 32 AmRep¢2023
Patrons. Officers and Trustees Patron: The Wiscount Rothermere Board of Ttee5. Chair Mike Mirams (Publishlng), Traty CYSullNan IDistributlon) (Elected ju 20221 PresldenL' Murdoch MacLennan Colln Aetcher (Retsil} Parin Gohil (Publishing) {appolnted May 20221 Dawd Holliday (Publishing) Iresignedjuty 20221 Adrian Hughes (Distribution) Ingridjones IDistributson} Shaunjones (Publishing) Paul Latham (Wholesale) lan Nisbet Iwholesale) ene Sfvestre (Publishing) Richard Webb (Wholesale) Chlef Executlve Officer. NeilJaer Operatlons Dlrertor. Tom Ri)dger Flnanclal Controller. Laura Grice Engagement & Communlcatlons Manager & EA to the CEO: ndsay Rule Welfare Manager. Sinead Flood Deputy Welfare Manager. Katle Babooram Welfare Officer & Marketlns Asslstant: Frankle Gabbanl "l M,ould like lo thank you for Ihe Winier C,omforl Gran( M hich I receiwed Ihis morning. Obiiiously il is mosi welcome as my Oil Iiealing bill h&$ risen by almosl l(KW/o since lasl year bul M iih your granl I will be able lo use the heallng niore than I had expecled to Ihis winler. So once again manyi many Ilianks." Admlnistratlon Asslstant Georgla Cannon Vlce-Presldents". David Mackay Rupert Murdoch AC
"Il is ofien a challenge lo look ror Ilie posi(iN'es in Ilic currenl climale and jusl knowing Ihal there are manv pIC such as yoiirselTres conlinuing lo work hard lo keep our spirils up and offering excellent advice means more Ihan I can sav." "Thank you for Ihe granl you have given lo help us M iih our energy cosls. We reel very sorry for (hose M ho do nol have friends like Nem strAid." "The winler comforl gran( was a lovely surprise and il will definitely allei,"iate some M'orries I have aEx)ul the coming winter. Thank you 10 everyone" "To everyone at Ne14.slr.lid - you haie come up Irumps again - M'hal a Monderful surprise lo receiNe Ihe £2.iO. Yoii reallv are so imwrianl lo us. Thank you so much." "Your kindne&s and generosily mean so much and is so gralefully rcfeiTred. You reallv are amaLing and so Ihoughiful and wonderful lo u&" -Thank you so mueh for Ihe monies paid inlo my bank - l am very graleful for Ihis as Ihe gas and eleclric bills are going up. The money M'ill help lo pay my healing bill. I really appreciale all your help." hank vou so much for Ihe money• It helps a loi at Christhias. This year I've been able lo buv nem. clollies and some presenis for Ihe family. l Miill also be able lo have the heating on a lol more so Ihank you so much again."
Auditors Price galley LLP Causeway House. 1 Dane StreeL Bisho5 Stortford, Herts CM23 3BT Solicitors Withers LLP 20 Old Bailey, London EC4M 7EG Tees Law Stonebridge House. Stonebridge Walk High StreeL Chelmsford, Essex CM1 1 EY Investment Fund Managers Rathbone Investment Management Ltd 8 Finsbury Circus, London EC2M 7AZ Bankers Barclay5 Bank PIC 14 High StreeL Great Dunmow. Essex CM6 1AA
NewstrAide The helpinghand ofthe Newstrade Reglstered Office: Suite 2 Thremhall Estate, Stsrt Hill, Bishop's Stortford CM22 7fD Tel: 01279 879569 Email: mail@newstraid.org.uk li ii'ii'.neii'straid.org.iik' l.reL, HL'lI)line: QS()11911 8616 000 wMv.tsobooLwftvnewthraid.benEvolenrfund Atter.cornlN£wstrAJd My.Insrègram.cem@NIrad_ vJw.lthk£dln.wrnl<tmpanylnestraldthnevolert.fund Chadty Reglstrallon NuThber l 116824 CompanyReyiration Number. 05973987 Scotdsh Charlty Number SC038775