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← The Civil Service Benevolent Fund

2023-12-31-accounts

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Annual report and accounts

for the year ending 31 December 2023

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The Civil Service Benevolent Fund operating as the Charity for Civil Servants

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The Trustees of the Charity for Civil Servants present their Annual Report for the year ended 31 December 2023 under the Charities Act 2011 and the Companies Act 2006, including the Trustees’ Annual Report comprising the Strategic Report and the Directors’ Report under the 2006 Act together with the audited financial statements for the year.

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Contents

Page

Chair’s foreword

2

Trustees’ annual report, comprising

Auditor’s report

Financial statements comprising

2-28 29

34 - 36

37 - 63 22 - 26 38 39 37 - 63

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Chair’s Foreword

Welcome to your Charity’s Annual Report and Accounts for 2023, a year in which recent challenges have continued to impact on so many in the Civil Service community. It is at times like this when life for anyone can so easily take a turn for the worse. When the unexpected happens it’s vitally important that Charity for Civil Servants is there for colleagues past and present experiencing suffering, hardship or distress.

During 2023, the Charity spent over £3.1m responding to over 73,000 instances of help, providing almost £2m in financial support despite some tough resourcing and technical challenges across the year.

The Charity is working ever more closely with a whole range of stakeholders across the Civil Service, including the Government People Group, others in the Cabinet Office, many of the staff networks, and willing supporters in so many Departments. We have also worked closely with other charities to share insight and understanding of the current volatile environment, ensuring we can respond appropriately to the need that’s out there.

Thanks must go to everyone involved for their helpfulness, understanding, collaboration and the time they have given in support of the Charity’s cause. A great example of this was, once again, the Civil Service Mental Health and Wellbeing Conference in October, with a record 12,800 registrations and 9,984 attending [accessing content from the sessions], an increase of 72% on 2022. Alongside support through the Cabinet Office and the Northern Ireland Civil Service, I am also grateful for the support we have once again received from the Civil Service Insurance Society, CSIS Charity Fund and Boundless.

A special thanks must go to our supporters, donors, partners and volunteers, without whom none of this would have been possible. I was particularly delighted with our community’s enthusiastic response to introducing the Charity’s refreshed brand and the new Mega Miles initiative, with one

walking team of 56 people from Queen Elizabeth House in Edinburgh going above and beyond. I would also like to pay tribute to the hard-working staff of the Charity and my fellow Trustees for their dedication, commitment and sheer determination throughout the year. They have really rolled their collective sleeves up in 2023 and done so much to help the Charity deliver support for those in need within the Civil Service community and I am extremely grateful.

It looks like there are still some difficult and uncertain times ahead, but provided we are all willing to continue to support our colleagues through the vital work of the Charity, I am confident that this important organisation is well set to meet any growing need.

There are some great initiatives planned across the year ahead, seeking to grow the number of people who know about the Charity, increasing and sustaining support for its mission. I look forward to the Civil Service Charities and Partners Week as well as Mega Miles , a walking challenge which I’d really urge everyone to join. Look out for more from the Charity on these and other events, during 2024.

Crucially, if you can support the Charity in any way – please visit the website and donate. It’s an important organisation doing great work – but it relies on help from all of us, to be able to do so.

Finally, a very grateful thank you from me and my very best wishes to everyone who plays a part in the life-changing work of this important charity.

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Sir Peter Schofield KCB Chair of Trustees

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The Trustees of the Charity for Civil Servants present their Annual Report for the year ended 31 December 2023 under the Charities Act 2011 and the Companies Act 2006, including the Trustees’ Annual Report comprising the Strategic Report and the Directors’ Report under the 2006 Act together with the audited financial statements for the year.

Trustees’ Strategic Report objectives and Activities

The Charity’s Objectives

For the public benefit, to relieve from suffering, hardship or distress (whether financial or otherwise), and to promote and sustain the wellbeing of Civil Servants, former Civil Servants, Public Body Employees or former Public Body Employees, employees and former employees of the Charity (and any predecessor organisation of it) and their dependants including without limitation by:

Given the large number of serving and former civil servants and public body employees (and their dependants) that fall under the Charity’s remit, the Trustees are satisfied that the Charity is providing public benefit under the Charities Act 2011. Further details are given under Achievements and Performance below. They are also satisfied that they have had due regard to the public benefit guidance published by the Charity Commission and in particular the requirement that the Charity benefits a sufficient section of the public.

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The Charity’s Vison

A supportive community in which everyone has the chance to live their life to the full.

The Charity exists to support all civil servants, past and present, when times are tough, listening without judgement and providing practical, financial and emotional support. Alongside financial grants and issue-specific advice, we continue to develop and enhance our services, offering digital and self-help tools and techniques, which meet the changing needs of our Civil Service community.

We help people to deal with the complex challenges which anyone can face throughout their lives, from mental or physical health issues and financial capability and debt management, to relationship breakdown, caring responsibilities and bereavement.

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The Charity’s Mission

Helping people to overcome life’s challenges and thrive.

We regularly review our aims, objectives and activities, and in doing so evaluate the appropriateness and effectiveness of our

services, and have continued to develop the Charity’s offer, details of which are outlined in this Trustees’ Strategic Report.

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BOB’s Story

Bob and Daisy met on a dating app in 2018, instantly clicking. Bumblebees became their thing. On their very first date, a bee kept following Daisy around, as if she was a flower – a light-hearted observation, but a sentimental comment that stuck with them. A symbol of how they felt the first time they met.

Their relationship grew and remained strong. When COVID-19 swept the world, the UK braced itself for uncertainty and the fear that followed; Bob and Daisy moved in together during the lockdown. They became each other’s happy place, both holding onto that sense of belonging, which ultimately carried them through to the other side of the pandemic.

Up to that point, Daisy had been through a lot in her life. A few years back, she had been

diagnosed with a brain tumor followed by successful treatment. She was now receiving regular checkups every six months, and so far so good – as Bob was always there to hold her hand during appointments.

As time went by, Bob knew he wanted to propose (and Daisy wanted Bob to propose). Eventually, they picked a ring together, and designed it into a honeycomb shape, encapsulating their love for each other. They bought a new house together and Bob proposed in their forever home. Daisy said yes and it was the best day of his life.

And then the cancer came back. Initially it just felt like headaches until Bob came home one day to find Daisy collapsed on the floor. Daisy passed away knowing how loved she was, a beacon of light living on through the memories of those who knew her.

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“An ambulance took Daisy to hospital, and it all went downhill from there. We were eventually told she had months to live. And then they said it was days.”

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Bob was heartbroken. In addition to trying to cope with his grief, he now faced an overwhelming list of practical and financial things to sort out. Struggling to afford daily living costs, he gave his charity a call (that’s us).

After a long chat about wellbeing and signposting to the right places, we talked through Bob’s finances with him and found that we could provide financial support, doing everything we possibly could to help him through the toughest time of his life.

"Charity for Civil Servants kept me afloat. I’m so grateful. It tided me over whilst I got everything else sorted out. I know I don’t have to pay it back, but I want to. I’m going to donate it back to the Charity over time so I can help somebody else. I want to help other civil servants and their families, so this is my way of doing that…"

“I’m still writing my grief journals and tell Daisy about my day, how much I miss her… I’ve still got the honeycomb ring. I remember when she was in the hospice towards the end and the nurse said it was time to take her ring off, as her fingers were swelling from the medication. That was a really sad moment. So, I bought her a necklace to put the ring on so she could wear it until the very end…"

“…Sometimes it’s not about fixing things is it, it’s just about being there for someone… letting them know you’re there.”

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*Some elements of this story have been anonymised or changed to protect the person’s identity.

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Achievements and Performance

STRATEGIC REVIEW

With the range of financial pressures resulting from major changes to the everyday cost of living, the past year has proved to be another very tough one for everyone, including those in the Civil Service community. This Annual Report and Accounts sets out the Charity’s performance in 2023. It continued to be a difficult operating environment and significant challenges face organisations like ours in the charity sector. Put bluntly, things are more and more expensive for those in need of help and support, whilst money is ever tighter for donors (and potential donors).

Because of these tough times, as the occupational charity for more than 1.6m current, former and retired civil servants (and their financial dependents), we want more people to come to us for assistance and for more to support our work through donations and fundraising. In 2021 the Charity agreed an organisational strategy to 2026 in line with its charitable purpose and mission. Considering the economic climate, and the emerging plans and phasing of our fundraising work, we have revised the Charity’s strategic ambition and adjusted our financial projections accordingly.

By the end of 2026, we now believe we will see:

We will work to achieve these targets through transformation of our systems, tactics and

infrastructure, reaching and effectively engaging with more of our community through a refreshed charity brand - and by growing our donor numbers.

Across the next three years, the Charity will continue to:

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AMBITIONS AND PLANS FOR 2023

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As outlined in last year’s annual report, we had some key ambitions for 2023. Below is a synopsis of the results.

Provide £2.3m in financial help through a combination of direct assistance and funded services or provision.

£1.924m spent on financial help. Original £1.7m budget with £0.6m unplanned grant received from Cabinet Office, which we spent £224k of in 2023 and used the remaining during Q1 2024, which we knew would be a challenging time for the people we help with cost of living etc.

Deliver 80 help webinars.

52 webinars delivered – lower figure due to reduced headcount and participation in site presence for brand launch.

Raise £3.9m in voluntary income, through individual and relationship fundraising.

£3.9m was raised in voluntary income

Attract 2,000 first-time givers through the 2023 campaign.

The 2023 campaign attracted 3,347 first-time givers.

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Providing more financial support

The cost-of-living crisis continued to affect households in 2023 but there was some alleviation through government and local authority help, and then further help with a £1,500 payment made across the Civil Service by the employer (corresponding to a slight dip in financial assistance requests to the Charity). The reduction in inflation and lower interest rates are good news but may take time to affect people’s incomes positively. There will still be people who are paying higher rents because of supply and demand or have higher mortgage costs when their fixed term ends. Negative equity has also appeared with a dip in house prices. There may also be some impact from the move back into offices for people who can’t afford or can’t source childcare, and in commuting costs which may rise for them.

We have continued to work closely with Government People Group and staff networks responding to needs.

In the area of wellbeing, the Thrive app provides a range of support for wellbeing, and Griefworks and Law Express apps have continued to be well used, as well as new offers. We extended the Peppy pilot to support people through menopause and this has proved popular but is more appropriate to be sourced by the workplace and our evidence will add insight for the Departments to consider. Our support for autism has been well used, as has our dementia service.

In money advice and guidance, we have embedded a benefits calculator to assist people to identify any entitlement to provide a sustainable income.

financial payments

The total paid in financial payments was £1.924m, compared with £1.929m in 2022. The impact of cost of living continues and ill health has become a more prevalent circumstance.

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Grant making policy

Our charitable objects include relief from hardship or distress (whether financial or otherwise) for the public benefit of current or former civil servants and their dependants. Grants are made within our charitable objects and the agreed strategy of the Charity. All grants are subject to a formal approval process. We award grants based on the four principles below:

Grants include financial help payments for emergency situations, grants to replace items that have broken or need repair, grants towards essential household bills, advanced rent and deposit for a new rented property, travel expenses, mobility aids and adaptations, as well as payment to third party suppliers for assessment of wellbeing and relationship counselling.

The policy was reviewed and agreed by the Board of Trustees for the period of January 2023 to December 2024, anticipating

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continued high demand and allowing for income not to improve at the same rate, because some time is needed to maximise opportunities from brand activation. We reduced the savings threshold before we

consider helping financially from £12,000 to £6,000 to consider the fact that one in five households have no savings at all. We will review this policy in the autumn of 2024, and we still have discretion to consider exceptions.

2023 cases by category

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Ill health, 15.2%
Disability, 11.3% Bereavement,
10.6%
Reduced/ low / insufficient Relationship Poor Other, 6.2%
income, 37.1% breakdown, 11.6% wellbeing, 8%
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People Coming to Us for Help

Over the year we handled 73,132 instances of help, including 4,867 caseworker applications (some payments were self-serve referrals/ apps). In our one-to-one inhouse services, there were 722 wellbeing conversations and money advice and guidance cases. We aim for around 70 - 80% of our total instances of help to be provided digitally, and 56,867 (78%) instances of help were digital.

With a brand and website launched in 2023, there were no major campaigns, so awareness of help was mainly through social media, intranet messages, emails and via our website. The main activity was the wellbeing conference in October which doubled its reach compared with 2022.

Mental HEALTH and wellbeing conference 2023

More than 14,000 colleagues across the Civil Service joined the 2023 Mental Health and Wellbeing Conference, hosted by the Charity in partnership with Government People Group. Subjects included neurodiversity, menopause, understanding loneliness, the impact of gambling, eating disorders and managing anxiety.

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GRACE’s Story

At the Charity for Civil Servants, we’re all about empowering people. People like Grace, whose life was thrown upside down when her son had a serious accident at school.

Just before his 13th birthday, Grace’s son, Charlie, came down for breakfast with his PE kit in hand. It was Sports Day. Grace went to work, her husband John went to work, and Charlie made his way to school. Just another ordinary day. A few hours later, Grace picked up a call from a paramedic asking if Charlie was allergic to any drugs as he needed urgent pain relief.

“Charlie clipped a hurdle and landed straight on his left leg. He had something called an avulsion fracture and the whole school could hear him screaming in pain. It broke my heart when I got to the hospital as he was so upset when they told us he needed surgery straight away.”

After a long and worrying night for the whole family, Charlie was allowed home following a successful operation. In a full leg brace, the family now had to find a way to provide Charlie with a wheelchair so he could start his recovery.

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“Charlie wasn’t allowed to put any weight on his leg at all, he needed help getting washed, dressed, the whole thing was traumatic for all of us. And I thought – how on earth am I going to look after him? I couldn’t afford to buy a wheelchair or take unpaid leave. So, I called the Charity for Civil Servants in a bit of a panic.”

When Grace called the Charity, we listened. We were a shoulder to cry on when she wanted to speak to someone outside of her circle. We were that voice telling her it would be OK. We understood what she needed when she needed it and, when we couldn’t help directly, we signposted her to the right place.

“The person on the phone at the Charity gave me the opportunity to just breathe. They made me feel like I had a safety net, someone to look out for me and my family. They helped me address and think of a solution to my problems so I could just focus on Charlie.”

Through our signposting to The British Red Cross, Charlie was able to get the wheelchair he had been waiting for. And although Grace didn’t need financial support in the end, she knew we would be there for her to help if she needed us in the future.

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“If the Charity for Civil Servants hadn’t been there for me, I don’t know what I would have done. Since then, I’ve continuously promoted them to other civil servants. What they offer is invaluable and I want to raise awareness of that.”

*Some elements of this story have been anonymised or changed to protect the person’s identity.

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FUNDRAISING

Charity for Civil Servants is funded through fundraising and income generation activities, with five key areas of activity:

Regular giving (including payroll and direct debit)

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To do this, the Charity uses a range of established practices:

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The Director of Fundraising and Communications is responsible for all our fundraising activities and is accountable to the Chief Executive as the head of the Executive Leadership Team.

recommendations from the Fundraising Regulator, we train agency fundraisers according to our standards and expectations, and monitor calls made on our behalf on a regular basis.

When we appoint a fundraising agency we ensure their work on our behalf is effective and aligned with our values and responsibilities. Any partners that we use are corporate members of the Chartered Institute of Fundraising, registered as a commercial supplier with the Fundraising Regulator, and comply with the codes of practice of both organisations. In line with

The Charity’s Board of Trustees has overall accountability for all our fundraising and income generation activities. The Strategic Steering Group (a subcommittee of the full Board of Trustees) meets regularly and review fundraising activities, and the Finance and Audit Committee (a subcommittee of the full Board of Trustees) oversees compliance.

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KEY POINTS TO HIGHLIGHT

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During the year, the Charity maintained its regular giving programme, raising £3.2m including gift aid (2022: £3.5m) through a combination of payroll giving and monthly direct-debit donations, representing 84.4% of the Charity’s overall voluntary income. The longstanding impacts of the pandemic, cost of living crisis, and increase in the numbers of civil servants retiring early impacted our number of existing donors as well as our ability to recruit new ones. Plans for donor recruitment drives were

impacted by emerging hybrid working, ongoing negotiations around Civil Service remuneration, and the Civil Service response to Cabinet changes within the Government. This resulted in an annual attrition rate of 7.5%, which is higher than we hoped.

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Income from people leaving a gift in their remained stable during 2023, with 17 generous donors (2022:16) donating £280k (2022: £372k) and has already been used to provide vital assistance during the year. The Charity undertook several initiatives to encourage supporters to pledge a legacy gift to the Charity, including providing a free-will service.

The Charity undertook its annual ‘Mega Miles’ fundraising challenge, raising £27k (2022: £20k), with promising opportunities for growth back to (and hopefully exceeding) 2019 levels of £60k next year.

The Charity secured grant income this year in support of its work helping civil servants experiencing financial hardship, including from the CSIS Charitable Fund, Cabinet Office and the Northern Ireland Civil Service.

Volunteering is a major part of the Charity’s outreach and engagement activity. The Charity had 353 active volunteers (2022: 107) that helped spread the word about the Charity, took part in fundraising activities, volunteered time as Welsh language translators, and took part in various research and focus groups.

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Fundraising and marketing compliance

To maintain the highest standards of fundraising ethics and welfare, the Director of Fundraising and Communications ensures our compliance and adherence with:

Our supporter promise (available on our website) outlines the commitment made to our supporters and the public, affirming that we ensure that our fundraising is legal, open, honest and respectful.

Reviewing our fundraising compliance:

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All the Charity’s fundraising activities complied with the Code of Fundraising Practice. Our website outlines our complaints policy for the public and clearly explains how an individual can complain. In 2023, the Charity received two complaints (2022: one) about its fundraising activities or practices and both were resolved to the donor’s satisfaction. No complaints were lodged with the Fundraising Regulator (2022: nil). lodged with the Fundraising Regulator (2022: nil).

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Ambition and plans for 2024

The operating environment for civil servants is going through radical change because of the post-pandemic approach to work, the ongoing impact of the cost-of-living crisis, and the demand on civil servants increasing over time. The Charity anticipates yet more demand for financial support as inflation, energy costs and the cost of living accelerate debt and financial worries. As we become more needed than ever before, we must redouble our fundraising efforts so we can sustainably continue to deliver help for the long term.

2024 will see the Charity running more fundraising and awareness initiatives in partnership with the Ministerial Departments, furthering our reach and relevance as the Charity of choice for civil servants.

We are aiming to:

  1. Provide £1.7m in financial help through a combination of direct assistance and funded

services or provision.

  1. Deliver 65 help webinars.

  2. Raise £4.1m in voluntary income, through individual giving, community fundraising, organisational grants and legacies.

  3. Attract 4,000 first-time givers.

Help and ADVICE

We will monitor our expenditure closely in 2024 to ensure the most effective use of charitable funds, and if we are overspending in any areas, mitigate these either through lowering amounts or looking at temporary policy changes. The interim policy (2023 – 2024) will be amended as required, depending on the level of demand and our financial position.

Financial assistance

We will be looking at any ways we can simplify our processes without compromising any audit needs, and with a view to continuously improving anti-fraud measures. We will review all our offers and use evaluation and evidence to ensure we prioritise those in most need, whether it’s arising from wellbeing or financial need.

Money advice and guidance

With a reduced headcount, our focus is on the areas where we can make most difference, and we utilise the expertise of other organisations (Money and Pensions Service (MAPS), National Debtline, Citizens Advice, Payplay, Stepchange) wherever possible, including syndicated content and tools. Our focus then is on the human intervention, as debt and the stigma of debt cause mental health issues, and difficulty engaging in the problem. We continue to help people with budgeting to avoid debt, income maximisation, and exploring their best options when they are facing threats such as eviction and court action.

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Caring, Health and Wellbeing

We continue to work well with a good working relationship with the Government People Group, and a Memorandum of understanding with the Cabinet Office and we liaise with staff networks to ensure that our provision complements EAP programmes and workplace support. We will also be working with heads of wellbeing in the major Departments in 2024, in a quarterly forum. Our wellbeing conversations with individuals also help us to shape our service developments, identifying any trends in need.

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webinars

With slightly reduced staff resources, we will ensure that webinars are used for maximum effect in terms of re-use and onview demand, updating webinars as relevant but also offering them where there is a large audience need, or where the subject areas would not be covered by Employee Assistance Programmes.

Digital services

We will review the usage of all our content including digital tools and resources, in the light of the new website and improved navigation of content; in particular we’ll review the benefits calculator. The Help, Advice and Service team will work on the Being Well Plan with a view to launching a caring module in the last quarter of 2024.

Fundraising and marketing

Fundraising is expected to be tough in 2024. Reports from across the sector indicate that, whilst people intend to continue giving to causes they care about, donations are likely to be smaller and less frequent. The Charity's refreshed brand is already having an impact on ‘appetite to support’ that needs to be better realised.

Raising brand awareness, encouraging participation, and earning loyalty remain our three pillars for 2024, bringing fundraising and marketing together into an integrated approach. Staff, trustees, volunteers, and advocates will be instrumental in bringing these together to achieve our ambitions for 2024.

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Raising brand awareness

EARNING LOYALTY

Focussing on "Charity Just For You” as a theme, the purpose is to energise civil servants behind the notion that we are your charity – here when times are tough, and that you can help colleagues through us by donating and fundraising. This campaign will see us deliver communications through communications channels across the Civil Service, undertake in-person activities in key locations, and utilise media opportunities of value to civil servants.

ENCOURAGING PARTICIPATION

As we unite people behind the Charity, we deliver a meaningful fundraising product that encourages fundraising by civil servants for their charity. Bringing back Mega Miles and doing it during the month of walking in May to maximise involvement, we will combine the virtual challenge with physical activities and opportunities to get more involved in the workplace.

Regular giving and legacies are some of the most impactful ways a person can choose to support a charity, and we are fortunate to have so many people who already do. We want to build on that to create a charity for civil servants that has a growing supporter base that is passionate about helping colleagues, through us, in times of need. Achieving this means we must earn their loyalty.

We will be delivering value-exchange through activities like the Mental Health and Wellbeing Conference, in partnership with Government People Group; running campaigns showing the impact of support; and encouraging civil servants to choose to donate on a regular basis to us.

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Ethan’s story

We know that relationship breakdowns can be tough. We know that each person has their own unique experience. When the person you think you’re going to spend the rest of your life with leaves you, it can come with an overwhelming amount of change. This is what happened to retired civil servant, Ethan, who was devastated when his wife left him for someone else.

“After 50 years of marriage… we were just about to celebrate our golden wedding anniversary. I couldn’t believe it. When she left me I felt bruised, unsure what to do… I felt lost. It was a dark time in my life.”

Luckily Ethan had a great support network. He continued to spend a lot of time with his two grown-up sons who tried to help him find a way forward.

“One of my son’s suggested counselling, it’s just not something you consider in my generation. He found the wellbeing section on the Charity for Civil Servants’ website for me and suggested I get in touch… and the experience was excellent.”

We’re here to support serving, former and retired civil servants and put wellbeing at the heart of everything we do. So, when Ethan gave us a call, we listened, we empathised and tailored our services to suit his unique situation. And for Ethan, this meant we could pay for a round of therapy sessions through our partner organisation Relate.

“The therapist helped me develop coping strategies which I can take forward. I found it extremely useful. I particularly liked the idea of journaling everyday… I can now look back at how I was feeling at the time and realise how far I’ve come.”

Ethan has actually been a regular donor to the Charity for quite some time. After fortyone years in the Civil Service, we’re pleased to remind him that his community will always be here looking out for him.

“I never thought I’d need help myself, I donate to help others going through a tough time. If you’re considering donating to this charity, please just do it – they have a hugely positive impact on people’s lives. They’ve certainly helped me find positives in mine.”

*Some elements of this story have been anonymised or changed to protect the person’s identity.

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Financial Review

Overview

In 2023, the Charity recorded net expenditure of £3.6m (2022: £3.4m) in line with its agreed approach to draw down from its reserves. The Charity has been refining the types of help it provides, ensuring its systems are fit for the future and delivering fundraising initiatives to tackle its long-term financial sustainability challenge.

This is before considering the return on the Charity’s investments, which was a gain of £1.8m (2022 loss of £2.6m) and the gain on the defined benefit pension scheme of £204k (2022 loss of £504k).

Net assets at the year-end were £27.1m, down £1.6m on 2022 (£28.4m). The Charity’s Investment portfolio was valued at £25.3m at 31 December 2023 which was down £0.5m on December 2022 (£25.8m) reflecting the gains of £1.8m, dividends and interest income of £0.5m and £2.7m divested to fund the Charity’s activities.

income

In 2023, total income was £4.4m (2022 £5.1m).

Income by Source (£000)

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----- Start of picture text -----
4%
11%
Regular contributions for
individuals (3,204k)
5%
Legacies (£280k)
1%
Events and community giving (£58k)
6%
Major giving (£221k)
Investment Income (£467k)
73% Other (£188k)
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The principal source of the Charity’s income remains regular monthly contributions from individuals, both serving and retired civil servants. Together with Gift Aid, this source of income accounted for over 84.4% of the Charity’s total income (2022: 72.7%). At £3.2m, regular contributions are down £0.3m on the previous year, following the pattern of decline.

Major giving amounted to £221k (2022: £753k) including Cabinet Office Grant £110k (2022: £110k), CSIS Charity Fund for £75k (2022: £40k) and £25k (2022: £42k) from the Northern Ireland Civil Service (NICS). Legacy income was down at £280k (2022: £372k).

Income from investments was £0.5m in 2023 (2022: £0.3m). The Charity’s portfolio is invested in pooled funds with Columbia Threadneedle and the interest is reinvested in the funds.

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Expenditure

Total expenditure for the year is £8m (2022: £8.5m) with £6.7m (2022: £7.1m) being spent on charitable activities.

Costs of raising funds were £1.3m (2022: £1.4m) and included elements of staff costs and overheads.

Total staff costs of £4.3m (2022: £4.6m) were included within direct activities and support costs. The average number of staff (on a fulltime equivalent basis) in 2023 was 85 (2022: 91).

The Charity withdrew £2.7m in the year (2022: £4.5m) from its investment portfolio to fund its expenditure in line with its plan to use its reserves to support civil servants.

Investment management

The purpose of this activity is to generate investment returns to make the best possible sustainable contribution to the Charity’s activities in the current and the long term.

As set out in the reserves section, the Charity is intending to utilise some of its reserves over the next five years by divesting from its portfolio over this period. As a result, under its Investment Policy, the Charity’s investments are split into a short-term and long-term pool of assets. The objective of the short-term pool is to be available to provide suitable liquidity and capital protection to meet anticipated drawdowns over a 1-2 year time horizon and to avoid the need to be in a forced sale position in respect of the fund in which the long-term pool is invested.

Fund management

The longer-term investments are managed in a dynamic pooled fund with Columbia Threadneedle delivering real returns with volatility control with the aim to deliver a real return of UK CPI + 3% per annum after the payment of investment management fees over a 3-5 year time horizon.

The short-term portfolio is invested in a short-term money market fund with suitable liquidity and capital protection to meet short-term cash flow requirements. The objective of this fund is to provide income returns broadly in line with the 1-month compounded SONIA (Sterling Overnight Index Average) rate before the deduction of charges.

Investment Performance

The value of the portfolio at 31 December 2023 was £25.3m (£25.8m at 31 December 2022). The Charity divested £2.7m in the year to fund its activities and there was a £1.8m increase in market valuation, and dividend income of £0.5m. The short-term money market portfolio was up 3.0% and the longterm portfolio was up 9.0%, reflecting global market volatility and performance: with inflation, rising interest rates, the energy crisis, and the war in Ukraine all contributing to an economic slowdown. The Charity’s investment performance objectives are set over a three-year horizon to allow for shortterm downturns. The Investment Committee has reviewed benchmark data of comparable funds provided by an independent investment adviser and is satisfied with the overall performance, given the mitigating circumstances of current global market challenges. Movements in the Charity’s investment holdings during the year and an analysis of the portfolio at year-end are shown in note 10a to the Accounts.

22

Approach to

reserves

Environmental, Social and Governance (ESG) issues

The Trustees are mindful of their duty to balance the interests of both current and future beneficiaries. The holding of reserves is one of a range of measures that can contribute to stability and continuity of the Charity into the future to support future beneficiaries. The Trustees determine the need for reserves by reference to several factors which they keep under regular review, including the time needed to reverse the recent declines in regular giving from individuals and the extent to which the remainder of its income is dependent on many small donations and grants. It considers fluctuations in beneficiary expenditure and future levels of demand for the help and services provided by the Charity. It also reflects the estimated buyout cost of the Defined Benefit Pension Scheme which had reduced to £2.5m April 2022 (the last triennial valuation). Based on its current analysis, the trustees feel that the Charity should continue to retain reserves of between £20m and £25m.

In selecting the Charity’s investment managers, the Investment Committee took into consideration the approach taken to ESG in investing. Columbia Threadneedle’s approach is to integrate ESG into its investment research in companies to build a fuller picture of the risks and opportunities of all investment opportunities, based on the belief that sustainable business models, organisational stability and the ability to effect positive change, are more likely to deliver value to all stakeholders including shareholders. Columbia Threadneedle uses ‘active ownership’ so that through continuous monitoring, targeted engagements and strategic voting it drives change and helps create future value. Columbia Threadneedle includes responsible investment metrics in their regular reporting including: a Columbia Threadneedle ESG Materiality rating, Carbon Intensity, Controversies Exposure and MSCI ESG Score. Both funds outperformed the Columbia Threadneedle benchmarks set on these metrics.

Of our total charity funds of £26.8m, total unrestricted funds were £26.7m at 31 December 2023. In assessing our level of free reserves, we exclude the fixed assets of £1m as these assets cannot be quickly disposed of. This leaves free reserves of £25.7m which is just above the target level of £20m to £25m. The trustees expect reserves to decline over the next few years as we develop the Charity’s services to help more people in line with the strategy that was developed in 2015 and refreshed in 2020. Restricted reserves – which are not taken into account in formulating our reserves policy were £87k as at 31 December 2023, details of which are set out in note 14 to the accounts.

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23

Going Concern

The Trustees have assessed the Charity’s ability to continue as a going concern. The Trustees have considered several factors when forming their conclusion as to whether the use of the going concern basis is appropriate when preparing these financial statements including a review of updated forecasts to the end of 2025, a consideration of key risks that could negatively impact the charity and the latest available valuation of the investment portfolio.

The Charity’s principal source of income continues to be regular monthly contributions from individuals, both serving and retired civil servants. This represented approximately 84.4% of the Charity’s income in 2023. As reported in the financial review, contributions in 2023 reflected a 7.5% decline and this trend has continued to be modelled in the revised forecasts. The key area of uncertainty relates to any impact of any market turmoil on the valuation of investments. The Trustees are satisfied that the Charity has sufficient reserves and liquidity within the investment portfolio to continue as a going concern for the foreseeable future. Cash flow forecasts are regularly prepared and assets in the investment portfolio can be liquidated to meet short term requirements.

After considering these factors, the Trustees have concluded that the Charity has a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future and have prepared the financial statements on the going concern basis.

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Pensions

The pension liability in respect of the defined benefit pension scheme that was closed to all staff for future benefit accrual in 2004 continues to change from one year to the next. This is largely driven by factors outside our control: performance of the assets in the pension scheme reflecting changing conditions in the financial markets and the sensitivity of the pension liability to changes in interest and inflation rates. The Scheme was a multi-employer defined benefit pension scheme, The CSBF Pension and Assurance Scheme, and the Charity accounts for its 92.9% share of the net assets and liabilities of the multi-employer pension scheme which is recognised on the Charity’s balance sheet.

Contributions paid by the Charity during the year were £93k.

The value of our share of the scheme’s assets remained stable at £15.4m while the value of the scheme’s liabilities (under FRS102 principles) rose in 2023 from £14.3m to 14.4m resulting in a surplus of £1m. The Charity does not to recognise this surplus but instead show zero as the pension asset/ liability. This valuation is undertaken using a series of assumptions and judgments. The valuation of the scheme is very sensitive to these assumptions and thus there is a risk that this valuation will change significantly during the coming year, as it has in past years. The Charity’s exposure to pension valuation fluctuations is monitored through its risk management framework and its consideration of financial risks. There is an effective budgeting and forecasting process in place for payments into the pension plan. The Charity also actively engages with the pension trustees including in relation to longer term plans for the Scheme.

Since closing the defined pension scheme to future staff benefit accrual in 2004, the Charity operates a defined contribution group pension scheme. More details about pensions are set out in note 16 to the accounts.

24

Principal Risks and Uncertainties

Risk is considered in key decision processes in the Charity at Executive and Board level. The Board reviews the major risks faced by the Charity at least annually after more detailed discussions at the Finance and Audit Committee. The current review includes consideration of the adequacy of the actions being taken in response to each risk. The Committee are working on developing this approach by being more precise about our risk appetite, and testing whether the stated mitigations will get us there. Workshops are planned throughout 2024 to define the process.

The Board is satisfied that the major risks facing the Charity have been identified and are being appropriately addressed. This includes the Board’s view of the impact of the current economic climate and the consequences for its risk assessment. The key resulting risk for the Charity is the financial risk for the Charity arising from a significant loss in the value of its investments which is detailed below. Overall, the Board considers that the key risks currently facing the Charity are as follows:

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Remuneration

Remuneration Policy

Our approach to pay at the Charity

The Charity had 87 staff as at 31 December 2023, which equates to 78.99 full-time equivalent employees. Salary and total reward for the Chief Executive are set and reviewed by the Remuneration Committee, a sub-committee of our Board of Trustees.

The Remuneration Committee is chaired by the Charity’s chair and includes other members of the Board, who offer pay expertise in the Not for Profit and other sectors.

All other staff salaries are set by the Senior Management Team. Salaries are arranged in pay grades across the Charity, using external independent benchmarking and comparison data within the Charity and Not for Profit sectors, and considering affordability at the Charity. Salaries are clearly advertised when recruiting for new roles. At the Charity, we believe in recruiting and retaining highcalibre people to represent the organisation’s interests. We believe in rewarding staff fairly for the jobs that they do and provide a single streamlined salary and grading framework for all staff, which is equitable and consistent with the principle of equal pay for work of equal value.

The Charity works hard to retain staff who have been recruited for the specific skills that they bring to their particular role. Pay and reward are determined to ensure that we can recruit people with the right skills in a competitive market. Many of our staff have detailed knowledge, some of which is unique to the Charity and could not be easily replaced. Our staff pay scales and total reward package reflects our commitment to retaining and motivating our staff.

Senior management pay

The Charity’s purpose and vision means that the Chief Executive and other members of the Senior Management Team require a breadth of experience, skills and personal qualities on a par with high-quality seniorlevel talent in similar organisations and so the Charity needs to be competitive in the market. They need to be able to liaise and command the respect of senior civil servants and executives of other partnership charities of all sizes through their experience and credibility. At the Charity, we can retain this talent whilst keeping salary costs under control.

For the purposes of disclosures under the Charities SORP (FRS 102), senior management is defined as the Chief Executive Officer and the other three directors responsible for Finance and Corporate Services, Help, Advice and Services and Strategic Marketing and Income Generation.

Benchmarking

The Chief Executive and directors participate in performance appraisal annually as part of the appraisal scheme operated for all staff. In the case of the Chief Executive, this includes seeking detailed feedback from the Chair, Trustees, and direct reports.

Staff pay levels are reviewed annually. The annual pay award is reviewed by the Senior Management Team and communicated to the Charity’s nominated union, PCS. The same benefits, apart from annual leave allowance, including pensions and terms and conditions, apply to the Chief Executive and directors, as all other staff. While they are separately determined, annual pay increases for the Chief Executive and staff are aligned. In 2023, a 6% pay increase was awarded to all staff.

Gender pay reporting

The Charity is not required to publish information on Gender Pay Reporting but as recommended by the NCVO, Trustees require information on gender pay differences to be collated and disclosed as part of a commitment to transparency and accountability.

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Gender Pay Gap:

As at 31 December 2023:

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----- Start of picture text -----
Gender No. of Staff FTE Salary Differential FTE Salary Differential
Mean (£) (%) Median (£) (%)
Male
28 £44,715 £3,685 8.24% £35,220 -£2,348 -6.67%
Female
59 £41,030 £37,568
----- End of picture text -----

As at 31 December 2022:

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----- Start of picture text -----
Gender No. of Staff FTE Salary Differential FTE Salary Differential
Mean (£) (%) Median (£) (%)
Male
32 £40,676 £1,345 3.31% £32,191 -£3,950 -12.3%
Female
65 £39,331 £36,141
----- End of picture text -----

Percentage Gender per Quartile Salary Range (1= highest paid quartile) as at 31 December 2023

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----- Start of picture text -----
Salary Quartile Male Female
1 48% (10) 52% (11)
2 14% (3) 86% (19)
3 27% (6) 73% (16)
4 41% (9) 51% (13)
Overall 28 59
----- End of picture text -----

27

Trustees’ Administrative Report

Structure and Governance

Constitution and Membership

The Civil Service Benevolent Fund (“The Charity”) was incorporated on 16 June 2010 as a company limited by guarantee (company no. 7286399). In May 2012, the company began operating under the name “The Charity for Civil Servants”. The Charity is registered with the Charity Commission in England and Wales (no. 1136870) and is on the Scottish Charity Register (no. SC041956). The Charity carries out its activities from its principal office, No. 5 Anne Boleyn’s Walk, Cheam, Sutton, SM3 8DY, which is also its registered office.

The governing instrument of the Charity is the Articles of Association, which were adopted on 16 June 2010. Charity for Civil Servants has been granted continuous patronage by The Monarch since Queen Victoria in 1886. Following the death of our Patron, HM Queen Elizabeth II in 2022, we are delighted that His Majesty King Charles III has graciously agreed to be Patron of the Charity.

The Charity has one subsidiary, CSBF Enterprises Limited (registered in England and Wales: company number 03119311). More detail is given in Note 10 (b) to the accounts.

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Trustees and Advisors

The Charity is governed by a Trustee Board of between 8 and 12 Trustees. Under the Charity’s Articles of Association, one Trustee shall be appointed by the Cabinet Office and that Trustee will be the Chair. Other Trustees are appointed by resolution of the Trustees at the Annual General Meeting. The Board is currently comprised of 11 Trustees.

The following Trustees served as members of the Board throughout 2023:

The following Trustees retired during 2023:

The following Trustees were appointed during 2023:

No Trustees had any disclosable interests under the Companies Act 2006.

Trustees are responsible for reviewing the structure, size and composition of the Board, including the skills, knowledge and experience required. Trustees seek to identify candidates to fill Board vacancies as and when they arise and open advertising or the services of external advisers are considered to facilitate the search for suitable candidates.

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Trustees are appointed for an initial term of up to three years, to provide for an orderly succession, and are eligible to serve a second term, up to a maximum of six years. Trustees receive individual induction sessions, as well as being provided with relevant background information and training to help familiarise them with their responsibilities.

The Trustee Board meets a minimum of three times a year and takes all important strategic, policy and financial decisions. It met four times in 2023. The Board is supported by several sub-committees and advisory groups. Sub-committee and advisory group membership as at 31 December 2023 is set out below (* denotes chair of each committee, † denotes co-opted member):

Nominations and Investment Finance and Audit Strategic Steering
Remuneration Committee Committee Group
Committee
Peter Schofeld * Sonia Phippard * David Kuenssberg* Matthew Brook
David Kuenssberg David Kuenssberg Sonia Phippard Michael Smith
Sonia Phippard Clara Lane Mal Singh Luke Treadwell
Jaspal Roopra Robert Woods † Joanna Dally James Renwick
Alex Reeves†

Day-to-day management of the Charity is delegated to the Chief Executive, Graham Hooper, and other directors responsible for Finance and Corporate Services, Help Advice and Fundraising and Communications. An appropriate director acts as secretary to each of the Board sub-committees and advisory committees, except for the Nominations and Remuneration Committee for which the Charity’s Head of HR is secretary.

The key advisers to the Charity are:

Auditor: Bankers: Investment Managers: Solicitors:
Haysmacintyre LLP Lloyds TSB Bank plc Columbia Threadneedle Stone King LLP
10 Queen Street 1 Butler Place Investments Boundary House
Place Victoria Street 78 Cannon Street 91 Charterhouse
London London London Street
EC4R 1AG SW1H 0PR EC4N 6AG London
EC1M 6HR

30

Trustee Responsibilities

The Trustees are responsible for preparing the Trustees’ Report (which comprises the Trustees’ Administrative Report and the Trustees’ Strategic Report) and the accounts in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the situation of the charitable company and of its net incoming resources for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

Insofar as each of the Trustees of the charitable company at the date of approval of this report is aware there is no relevant audit information (information needed by the company’s auditor in connection with preparing the audit report) of which the company’s auditor is unaware. Each Trustee has taken all the steps that they should have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

Charity Governance Code

The Charity’s Trustees acknowledge that the Charity for Civil Servants is best placed to fulfil its vision, mission and strategic goals if it has effective governance in place. The Charity continues to utilise the Charity Governance Code as a tool to support the Board to reflect upon its governance structures and consider the most appropriate ways to adopt the Code’s principles and recommended practices. Trustees also continue to uphold their legal responsibilities and recognise that behaviour and culture are integral, both in supporting the Charity to deliver its objects most effectively for its beneficiaries’ benefit, and in achieving good governance.

The Charity’s governance structures continued to work well during 2023, and most Board meetings were held in person with a remote option for those unable to join face to face. Larger committee meetings were also held predominantly in person, with smaller meetings

31

being held virtually. The Trustees’ annual Away Day was held in person. A triennial externally facilitated board effectiveness review conducted in 2021 concluded that the Charity already had strong systems of governance in place, and work to apply the recommendations arising from the review was completed in 2022.

The Charity and its Trustees remain committed to improving the Charity’s governance standards and on increasing its overall effectiveness as an organisation and will continue to consider how best to adopt and strengthen the recommended practices within the code over the next 12 months.

This Annual Report, which incorporates the Trustees’ Strategic Report and Administrative Report, was approved by the Trustees on the 22 March 2024, and signed on their behalf by:

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Sir Peter Schofield KCB

Chair, Board of Trustees 11 09 2024

32

Independent auditor’s report to the members of Charity for Civil Servants

Opinion

We have audited the financial statements of Charity for Civil Servants for the year ended 31 December 2023 which comprise the Charitable Company Statement of Financial Activities, the Charitable Company Balance Sheet, the Charitable Company Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

33

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

34

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Charity Commission, GDPR, health and safety regulations and employment law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, Charities SORP (2019), and tax regulations.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition, and management override of controls, opening balances and investments. Audit procedures performed by the engagement team included:

35

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Siobhan Holmes (Senior Statutory Auditor)

10 Queen Street Place

London

EC4R 1AG

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For and on behalf of Haysmacintyre LLP, Statutory Auditor

Date: 24 September 2024

36

Charity for Civil Servants Statement of Financial Activities for the year ended 31 December 2023

Income from
Note
Donations and legacies
2
Other income
3
Investment Income
4
Total income
Expenditure on
Raising funds
Fundraising & Engagement
Investment management
Total costs of raising funds
Charitable activities
Alleviating need
Total charitable expenditure
Total expenditure
5
Net (expenditure)/income for the
year
Gain/(loss) on investments
11a
Gain on revaluation of investment
property
11b
Gain/(loss) on defned beneft
pension scheme
17
Net movement in funds for the
year
Reconciliation of funds
Funds brought forward at
1 January
Funds carried forward at
31 December		 Unrestricted
Funds
£000
3,753
151
467		 Restricted
Funds
£000
45
-
-
45
-
-
-
3
3
3
42
-
-
-
42
45
87		 2023
Total
Funds
£000
3,798
151
467
4,416
1,225
89
1,314
6,691
6,691
8,005
(3,589)
1,765
365
204
(1,255)
28,386
27,131		 2022
Total
Funds
£000
4,764
26
345
4,371 5,135
1,225
89		 1,323
95
1,314 1,418
6,688 7,133
6,688 7,133
8,002 8,551
(3,631)
1,765
365
204		 (3,416)
(2,594)
(504)
(1,297)
28,341		 (6,514)
34,900
27,044 28,386

The statement of financial activities incorporates an income and expenditure account. The notes on pages 37-63 form an integral part of these Accounts

37

Charity for Civil Servants Balance Sheet as at 31 December 2023

Note
Fixed assets
Intangible assets
9
Tangible assets
10
Investment assets
11
Total fxed assets
Current assets
Debtors
12
Cash at bank and in hand
Total current assets
Liabilities
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Net assets
Total net assets
The funds of the Charity:
Unrestricted funds
Revaluation reserve
Total unrestricted funds
15
Restricted income funds
15
Total charity funds		 2023
Total
£000
489
474
25,837
26,800
533
200
733
(402)
331
27,131
27,131
27,131
26,677
367
27,044
87
27,131		 2022
Total
£000
586
690
25,798
27,074
1,376
517
1,893
(582)
1,311
28,385
28,385
28,385
27,973
367
28,340
45
28,385

Approved and authorised for issue by the Trustees on 11 09 2024 and signed on their behalf by:

Sir Peter Schofield KCB Chair, Board of Trustees

38

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

Note
Cash fows from operating activities:
Net cash used in operating activities
A
Cash fows from investing activities:
Investment income
4
Purchase of intangible assets
9
Purchase of property, plant and equipment
10
Payments to pension fund
17
Rebate reinvested
11a
Disposal of investments
11a
Net cash provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period
B
Notes to the cash fow statement
A. Reconciliation of net income/expenditure to
net cash fow from operating activities
Net (expenditure) / income for the reporting
period (as per the statement of fnancial activities)
Adjustments for:
Investment management fees
11a
(Gain)/Loss on investments
11a
Depreciation & amortisation charges
9&10
Investment income reinvested
4
Decrease/(Increase) in debtors
12
(Increase) in creditors
13
Net Pension scheme interest
17
Net pension scheme expenses
17
Pension scheme (Gain)/loss
17
Net cash used in operating activities
B. Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2023
£000
(2,833)
4
(80)
(5)
(93)
2
2,670
2,498
(335)
517
200
2023
£000
(1,254)
89
(1,765)
177
(463)
844
(180)
(5)
293
(205)
(2,833)
2023
£000
201
201		 2022
£000
(4,131)
1
(241)
(7)
(573)
(8)
4,450		 2022
£000
(4,131)
1
(241)
(7)
(573)
(8)
4,450
3,622
(508)
1,025
517
2022
£000
(6,514)
94
2,594
171
(344)
(607)
(97)
(53)
121
504
(4,131)
£000
517
517

39

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

1. Accounting policies

Status of the Charity

The Charity was incorporated in England and Wales on 16th June 2010 (company number 7286399) and is limited by guarantee of its members. The guarantee of each member is restricted to £1 sterling. The address of the registered office is No. 5 Anne Boleyn’s Walk, Cheam, Surrey, SM3 8DY.

The Charity meets the definition of a public benefit entity under FRS 102. It is registered in England and Wales (charity number: 1136870) and in Scotland (charity number: SC041956).

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are drawn up under the historical cost convention except that the freehold property was valued as at 30 June 2000 and investments are carried at market value.

The financial statements are presented in pounds sterling which is also the functional currency of the Charity.

The Charity has one wholly owned subsidiary undertaking, CSBF Enterprises Limited (company number 03119311). This is not consolidated on the basis that the amounts in the subsidiary are immaterial in the context of the Charity.

Going concern

The Trustees have assessed the Charity’s ability to continue as a going concern. The Trustees have considered several factors when forming their conclusion as to whether the use of the going concern basis is appropriate when preparing these financial statements including a review of updated forecasts to the end of 2025, a consideration of key risks that could negatively impact the charity such as cost of living, impact on general living and global conflicts. Also, the latest available valuation of the investment portfolio has been reviewed.

The Charity’s principal source of income continues to be regular monthly contributions from individuals, both serving and retired civil servants. This represented approximately 84.4% of the Charity’s income in 2023. As reported in the financial review, contributions in 2023 reflected a net 7.5% decline and this trend has continued to be modelled in the revised forecasts. The key area of uncertainty relates to any impact of market turmoil on the valuation of investments. The Trustees are satisfied that the Charity has sufficient reserves and liquidity within the investment portfolio to continue as a going concern for the foreseeable future. Cash flow forecasts are regularly prepared and assets in the investment portfolio can be liquidated to meet short term requirements.

40

After considering these factors, the Trustees have concluded that the Charity has a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future and have continued to prepare the financial statements on the going concern basis.

Income

Income is recognised in the accounts of the Charity when all of the following criteria are met:

Contributions, and any related recoverable tax, are accounted for when they are due. Donations are accounted for when received. Pecuniary legacies are recorded as income when notified; residuary legacies are recorded when the Charity is legally entitled to the income, receipt is probable and the amounts can be reasonably quantified on the basis of estate accounts or, where not available, on the basis of probate asset values. Income from investments represents distributions, as notified by the investment managers, that are reinvested.

Income from Government Grants is recognised using the accrual model basis. Grant Income is recognised when there is reasonable assurance that a) any conditions attached to receiving the grant will be met and b) the grants will be received. Grants relating to revenue are recognised in income over the periods in which related costs are incurred for which the grant is intended to compensate.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to commit the Charity to expenditure as a result of a past event, it is probable that settlement will be required and the amount of the obligation can be measured or estimated reliably.

Grants payable are accounted for when approved by the Charity and notified to beneficiaries. All other expenditure is accounted for on an accruals basis.

Governance costs represent expenditure on strategic planning for the Charity’s future development, internal and external audit, legal advice to trustees and costs associated with constitutional and statutory requirements including the cost of Board meetings and preparing statutory accounts.

Costs which cannot be directly attributed to individual activities reflected on the Statement of Financial Activities are allocated on a basis consistent with the use of resources, being the relevant proportions of either staff costs, time spent or assets utilised.

41

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred

Allocation of support costs

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include central management and office costs, finance, HR, information technology and systems, analysis and insight, defined benefit pension scheme expenses and governance costs which support the Charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

Tangible fixed assets

Tangible fixed assets costing more than £1,000 are capitalised. All fixed assets are recorded at cost and are depreciated at rates to write off the excess of the cost or valuation over the anticipated residual value of individual assets evenly over their estimated useful lives. These rates are currently as follows:

Freehold building and property 2-3% p.a. on valuation and cost improvements

Fixtures, fittings & office equipment 15% p.a. on cost Other computer hardware & software 331/3 % p.a. on cost

Intangible fixed assets

Intangible fixed assets are non-monetary fixed assets that do not have physical substance but are identifiable and are controlled by the Charity through custody or legal rights. An intangible asset is recognised when it is separable or arises from contractual or other legal rights and if it is probable that its expected future economic benefits will flow to the Charity, and if its cost or value can be measured reliably. Intangible fixed assets costing more than £2,000 are capitalised.

Intangible assets are measured initially at cost and subsequently at cost less impairment and less any accumulated amortisation. The residual value of intangible fixed assets is nil when calculating the charge for amortisation unless reliable evidence exists to the contrary. Amortisation of intangible fixed assets is charged as an expense to the relevant statement of financial activities category reflecting the use of the asset.

Intangible assets are amortised on a straight-line basis over their useful economic lives. If the useful life cannot be estimated reliably it is presumed to be no more than five years. Amortisation commences on development expenditure when an intangible asset is available for use.

42

The amortisation rates used are as follows:

Software and website costs: 331/3 % per annum

Major system development: 20% per annum

Intangible assets are only reviewed for impairment if there are indicators that the asset may be impaired.

Investment assets

Investments are measured initially at cost and valued in the balance sheet at fair value (their market value) at the balance sheet date. Investment net gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Net gains/(losses) on investments’ in the Statement of Financial Activities.

Investment charges

The arrangement with the investment manager, Columbia Threadneedle, is for the Charity to invest in two pooled funds where the fees are deducted directly in calculating the value of the units in the funds. Fees from this point are not separately identifiable and are in effect netted off in arriving at the gain on investments. The Ongoing Charges Figure (OCF) for the long-term fund is 0.5% (including an AMC of 0.40%). The OCF for the short-term fund is 0.46% (including an AMC of 0.40%). The Charity received a 0.2% rebate on short-term fund’s AMC, and this is reflected under Other Income. The amount shown in the accounts is the estimated annual fees provided by the investment manager.

Pensions

Employer costs relating to the defined contribution pension scheme are included as expenditure when they become payable in accordance with the rules of the scheme.

The Charity also contributes to a defined benefit pension scheme, which was closed in 2004 to future benefit accrual. The current service costs of the scheme, together with the scheme interest cost less the expected return on the scheme assets for the year, are charged to the Statement of Financial Activities (SoFA). The actuarial losses on the scheme are recognised immediately as other recognised losses. The Charity does not recognise pension surpluses on its Balance sheet as FRS 102 only permits a surplus to be recognised where the employer is able to recover that surplus either through reduced contributions in future or through refunds from the plan.

The assets of the scheme are measured at fair value at the balance sheet date. Liabilities are measured on an actuarial basis at the balance sheet date using the projected unit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent term to the scheme liabilities. Any resulting defined benefit liability will be presented separately after other net assets on the face of the balance sheet.

43

Financial instruments

The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets held at amortised cost comprise cash and bank and in hand, short term cash deposits together with debtors excluding prepayments. Financial liabilities held at amortised cost comprise short- and long-term creditors excluding deferred income and taxation payable. No discounting has been applied to these financial instruments on the basis that the periods over which amounts will be settled are such that any discounting would be immaterial.

Investments, including bonds and cash held as part of the investment portfolio are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure. Investments in subsidiary undertakings are held at cost less impairment.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, trustees are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affected current and future periods.

The only significant sources of uncertainty in our estimations that have a significant effect on the amounts recognised in the financial statements are the defined benefit pension scheme, estimated residuary legacies receivable and gift aid. Further details, including assumptions used, are disclosed in Note 16 (defined pension scheme), and under Income in the accounting policies (residuary legacies). Gift aid for claims in the year yet to be submitted have been estimated on the basis of average annual recovery rates.

44

Charity for Civil Servants

Notes to the accounts for the year ended 31 December 2023

2. Income from donations and legacies
Regular contributions from individuals
Contributions from employer organisations
Legacies
Donations
Fundraising events		 2023
£000
3,204
136
280
120
58
3,798		 2022
£000
3,465
753
372
124
50
4,764

3. Other Income

3. Other Income
Investment Rebate
Lotteries
Property Rental Income		 2023
£000
2
99
50
151		 2022
£000
8
18
-
26

4. Investment income
4. Investment income
Interest receivable
Dividends re-invested		 2023
£000
4
463
467		 2022
£000
1
344
345

45

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

5. Expenditure 2023

Costs of raising funds
Fundraising & engagement
Investment costs
Charitable activities
Alleviating need
Total expenditure at 2023
Expenditure 2022
Costs of raising funds
Fundraising & engagement
Investment costs
Charitable activities
Alleviating need
Total expenditure at 2022		 Financial Support
(Note 4a)
Direct
Activities
£000
£000
-
702
-
89		 Financial Support
(Note 4a)
Direct
Activities
£000
£000
-
702
-
89		 Financial Support
(Note 4a)
Direct
Activities
£000
£000
-
702
-
89		 Support
costs
(Note 4b)
2023
Total
£000
£000
523
1,225
-
89		 Support
costs
(Note 4b)
2023
Total
£000
£000
523
1,225
-
89		 Support
costs
(Note 4b)
2023
Total
£000
£000
523
1,225
-
89
- 791 523
1,314
1,924
2,711		 2,056
6,691
1,924
3,502		 2,579
8,005
Financial Support
(Note 4a)
Direct
Activities
£000
£000
-
792
-
95		 Support
costs
(Note 4b)
2022
Total
£000
£000
531
1,323
-
95
- 887 531
1,418
1,929
3,134		 2,070
7,133
1,929
4,021		 2,601
8,551

46

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

2023
One-of
2023
Ongoing
(a) Analysis of fnancial support
to help in the following
circumstances:
- bereavement
165
-
- caring
8
-
- disability
185
-
- domestic abuse
43
-
- emergency situation
8
-
- ill health
205
34
- poor wellbeing
238
-
- reduced or low income
585
-
- relationship breakdown
116
-
- unstable/unsafe living
arrangements
48
-
- community projects
3
-
- Don’t tone alone
159
-
- Peppy
127
-
1,890
34
 2023
One-of
2023
Ongoing
(a) Analysis of fnancial support
to help in the following
circumstances:
- bereavement
165
-
- caring
8
-
- disability
185
-
- domestic abuse
43
-
- emergency situation
8
-
- ill health
205
34
- poor wellbeing
238
-
- reduced or low income
585
-
- relationship breakdown
116
-
- unstable/unsafe living
arrangements
48
-
- community projects
3
-
- Don’t tone alone
159
-
- Peppy
127
-
1,890
34
 2023
Total
165
8
185
43
8
239
238
585
116
48
3
159
127		 2022
One-of
114
2
111
39
7
125
442
589
372
87
2
-
-		 2022
Ongoing
2022
Total
-
114
-
2
-
111
-
39
-
7
38
163
-
442
1
590
-
372
-
87
-
2
-
-
-
-
1,890
34
 1,924 1,890 39
1,929

47

2023

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

(b) Analysis of support costs 2022

Management
Governance
£000
£000
Costs of raising
funds
Fundraising &
engagement
138
8
Charitable
activities
Alleviating need
552
33
In 2023
690
41
(b) Analysis of support costs 2022
Management
Governance
£000
£000
Costs of raising
funds
Fundraising &
engagement
147
6
Charitable
activities
Alleviating need
589
24
In 2023
736
30		 Management Management Governance
£000
8
33		 DB Pension
Scheme
£000
59
235		 Finance
£000
43
171		 H.R

£000
50
200		 Insight &
IT &		 Systems

£000
120
446		 Central
Services
Total
£000
£000
50
523
198
2,056
£000
138
552
Analysis
£000
55
221
690 41 294 214 250 276 566 248
2,579
DB Pension
Scheme
£000
24
97		 Finance
£000
44
177		 H.R
£000
60
241		 Insight &
IT &		 Systems
£000
143
517		 2022
Central
Services
Total
£000
£000
49
530
197
2,070

Analysis
£000
57
228
736 30 121 221 301 285 660 246
2,600

Allocation is based on the use of resources, being the relevant proportions of staff costs, time spent and assets utilised.

(c) Analysis of governance costs
Board of Trustees expenses
Annual Reports & accounts
Audit fees		 2023
£000
-
8
25		 2022
£000
-
8
27
33 35

48

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

6. Net Income/expenditure for the year
This is stated after charging/crediting:
Amortisation/depreciation charge for the year
Auditors’ remuneration – audit fees (excluding VAT)		 2023
£000
204
25		 2022
£000
171
27

7. Trustees and employees

The trustees and persons connected with them have not received or obtained any remuneration or other financial benefits during the year, directly or indirectly from the Charity’s funds (2022: nil). During the year no trustees were reimbursed travelling expenses (2022: £0).

Employee and staff costs

Employee and staf costs
Staf costs during the year were as follows:
Salaries
Employer’s national insurance
Employer’s regular pension scheme contributions
Total		 2023
£000
3,552
344
453
4,349		 2022
£000
3,751
382
480
4,613

During the year there was one redundancy payment totalling £22,814 (2022: £40,045).

Average number of employees – Full-time equivalents

Marketing and Income Generation
Help, Advice and Service
Management and Central Services
In 2023
In 2022		 Homebased
HQ
2023
2022
18.74
9.91
28.65
35
15.35
19.1
34.45
35
1.8
19.8
21.6
20.75
35.89
48.81
84.7
-
33.75
57
-
90.75

49

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

Average number of employees – Headcount

Marketing and Income Generation
Help, Advice and Service
Management and Central Services
In 2023
In 2022		 Homebased
HQ
20
10
17.5
20.5
2.5
21.5		 2023
30
38
24		 2022
37
39
24
40
52		 92 100
38
62		 - 100

Number of employees with emoluments (including taxable benefits but excluding employer pension costs) exceeding £60,000:


employer pension costs) exceeding £60,000:
2023 2022
£60,001 - £70,000 2 3
£70,001 - £80,000 0 1
£80,001 - £90,000 5 1
£90,001 - £100,000 0 0
£100,001 - £110,000 1 1
Employer (less salary sacrifce payments) £84,426 £57,259
pension contributions paid in respect of a
defned contributions pension scheme

There has been an increase in the number of employees who earn over £60,000. There has also been an increase in the number of staff with emoluments in the £80,001 to £90,000 bracket.

This is due in part to the annual pay increase received by staff in April 2023, which has caused some staff to change salary bracket and the impact of several senior members of staff being with the organisation for a full financial year. It also reflects the effect of additional, reportable payments such as the redundancy settlement detailed above.

The key management personnel of the Charity comprise the Chief Executive Officer and three Directors. The total employee benefits of the key management personnel of the Charity were £489,405 (2022: £436,571), including salary, employer pension contributions, Health Cash Plan premiums and employer National Insurance contributions.

It breaks down as follows:

50

Charity for Civil Servants

Notes to the accounts for the year ended 31 December 2023

Position
Basic
Salary
Benefts
Employers
Pension
conts.
Ers ni
Chief Executive
108,562
312
22,798
12,678
Director of Help
and Advice
86,526
557
19,901
9,611
Director of
Finance &
Corporate
Services
(from 4.7.22)
88,604
528
18,607
10,116
Director of
Finance &
Corporate
Services
(until 24.6.22)
-
-
-
-
Director of
Fundraising &
Communications
83,166
557
17,465
9,418
Grand Total		 2023 Total
remuneration
£144,350
£116,595
£117,855
-
£110,606		 2022 Total
remuneration
£136,051
£109,450
£44,073
£54,061
£103,363
£489,405 £456,932

8. Volunteers

The charity has a total of 353 volunteers situated across the UK at the end of 2023 across formal and informal volunteering roles for the Charity that promote the Charity in the workplace, encourage fundraising, and take part in activities in line with the charitable object of the organisation.

51

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

9. Intangible fixed assets

9. Intangible fxed assets
Cost or valuation
Balance at 01.01.2023
Additions
Disposals
Balance at 31.12.2023
Accumulated amortization
Balance at 01.01.2023
Charge for the year
Disposals
Balance at 31.12.2023
Net book value at 31.12.2023
Net book value at 31.12.2022		 Website software
£000
985
80
0
1,065
399
177
0
576
489
586
1,065
399
177
0
576
489
586

52

Charity for Civil Servants

Notes to the accounts for the year ended 31 December 2023

10. Tangible fixed assets

10. Tangible fxed assets
Cost or valuation
Balance at 01.01.2023
Additions
Disposals
Balance at 31.12.2023
Accumulated depreciation
Balance at 01.01.2023
Charge for the year
Disposals
Balance at 31.12.2023
Net book value at 31.12.2023
Net book value at 31.12.2022		 Freehold
property
£000
738
-
-		 Fixtures,
fttings and
equipment
£000
334
5
-		 Total
£000
1,072
5
-
738 339 1,077
275
4
-		 309
15
-		 584
19
-
279 324 603
459 15 474
666 24 690

The Charity’s property at No 5 Anne Boleyn’s Walk, Cheam, was re-valued by Taylor Surveyors Valuers and Agents, in March 2024. The portion of the freehold building that is used by the charity remains held at cost however the portion that is rented out and is classified as an investment property in the accounts has been revalued for the year ended 31 December 2023.

11. Fixed asset investments

11. Fixed asset investments
(a) Investment portfolio
Movements in the investment portfolio in the year
Market value at 1 January
Dividends received – re-invested
Interest re-invested
Net (disposals) Columbia Threadneedle
Investment Rebate
Investment Management Fees
Net investment gain/(loss)
Market value at 31 December		 2023
£000
25,798
462
4
(2,670)
(89)
1,765		 2022
£000
32,585
344
-
(4,450)
8
(95)
(2,594)
25,798
25,270

The investments as at 31 December 2023 shown above as managed by Columbia Threadneedle have been valued at fair value (their market value) on 31 December 2023. During the year we utilised our holding in the Short-term fund to provide operating cashflow. We have set up a new Money Market Fund to provide for short term cashflow requirements.

53

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

Market value of pooled funds as at 31 December 2023:

Market value of pooled funds as at 31 December 2023:
Funds
Money Market Fund 1,278
Long Term Fund 23,992
Total held with Columbia Threadneedle 25,270
The Short-Term fund is mainly comprised of fxed income and cash to mitigate any short-term
market volatility. The Long-term fund’s asset weighting as at 31 December 2023 is analysed
below:

below:
Weighting
(%)
Long Term Fund
Fixed Income 31.6
Equities 64.5
Derivatives 0.5
Cash 3.4
Total 100.0
(b) Investment building
Total
£000
Opening balance -
Movements 567
Closing balance 567

The Charity holds an investment property at No 5 Anne Boleyn’s Walk, Cheam. The ground floor is occupied by the Charity itself and during 2023 the remaining floors were let out to tenants. The property was revalued as of 31st December 2023 for investment purposes and the investment property portion of the freehold building held on a revaluation basis. Freehold property where the Charity occupied the space in the year continues to be held at cost.

(c) Investment in subsidiary

The Charity has an investment in one wholly owned subsidiary CSBF Enterprises Limited, a company registered in England & Wales, No. 03119311, with ordinary issued share capital of 7 shares of £1 each. The investment is held at a cost of £7. As the accounts are rounded to £000s, this investment is not shown on the balance sheet, and consolidated accounts are not prepared, as the subsidiary is not material to the assets, liabilities or net results of the Charity. The subsidiary had minimal activity during the year and does not employ any staff directly. The administrative charge to offset the cost of time spent by Charity staff on behalf of CSBF Enterprises Ltd was nil (2022: nil). In 2023 the subsidiary made a loss in the year and no donation has been made to the Charity. Its reserves at year end were £8,517 (2022: £8,770). At the year end, CSBF Enterprises Limited owed the charity £27,596 (2022: £192).

54

Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2023
12. Debtors
2023
£000
Other debtors:
- Repayable grants
32
- Sundry debtors
1
Prepayments
149
Accrued income:
- Contributions from individuals
116
- Legacies
61
-Tax credits on gift aid donations
140
-Other accrued income
6
Due from CSBF Enterprises Ltd
28
533
13. Creditors - amounts falling due within one year
2023
£000
Accrued fnancial grants payable
58
Trade creditors
76
Other creditors
13
Pension contributions
61
Taxation and social security costs
94
Accruals
100
402
13.(a) Movement of fnancial support payable
£000
Opening fnancial grants payable
89
Financial grants recognised
1,639
Financial grant payments made during the
year
(1,683)
Cancelled/refunded fnancial grants
12
Closing fnancial grants payable 2023
58		 Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2023
12. Debtors
2023
£000
Other debtors:
- Repayable grants
32
- Sundry debtors
1
Prepayments
149
Accrued income:
- Contributions from individuals
116
- Legacies
61
-Tax credits on gift aid donations
140
-Other accrued income
6
Due from CSBF Enterprises Ltd
28
533
13. Creditors - amounts falling due within one year
2023
£000
Accrued fnancial grants payable
58
Trade creditors
76
Other creditors
13
Pension contributions
61
Taxation and social security costs
94
Accruals
100
402
13.(a) Movement of fnancial support payable
£000
Opening fnancial grants payable
89
Financial grants recognised
1,639
Financial grant payments made during the
year
(1,683)
Cancelled/refunded fnancial grants
12
Closing fnancial grants payable 2023
58		 Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2023
12. Debtors
2023
£000
Other debtors:
- Repayable grants
32
- Sundry debtors
1
Prepayments
149
Accrued income:
- Contributions from individuals
116
- Legacies
61
-Tax credits on gift aid donations
140
-Other accrued income
6
Due from CSBF Enterprises Ltd
28
533
13. Creditors - amounts falling due within one year
2023
£000
Accrued fnancial grants payable
58
Trade creditors
76
Other creditors
13
Pension contributions
61
Taxation and social security costs
94
Accruals
100
402
13.(a) Movement of fnancial support payable
£000
Opening fnancial grants payable
89
Financial grants recognised
1,639
Financial grant payments made during the
year
(1,683)
Cancelled/refunded fnancial grants
12
Closing fnancial grants payable 2023
58		 2022
£000
32
3
317
128
247
643
6
-
533 1,376
2023
£000
58
76
13
61
94
100		 2022
£000
89
242
-
55
89
107
402 582
£000
89
1,639
(1,683)
12
58

£58k (2022: £89k) of financial grants were approved and are due to be paid in 2023.

55

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

14. Operating Leases - equipment
Equipment Rentals charged in the year
The total future minimum lease payments under operating
leases are due as follows:
- in less than one year
- in more than one year and less than fve years		 2023
£000
7
2023
£000
4
-		 2022
£000
17
2022
£000
4
-

15. Funds

The Charity maintains various types of funds as set out below.

Unrestricted funds

Unrestricted funds represent the free funds of the Charity which are expendable at the discretion of the trustees to further the objects of the Charity.

Restricted funds

Restricted funds are those funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes.

Customs & Excise Family Fund

A restricted donation of £30,000 was given to the Charity in March 2006, following the dissolution of The Customs & Excise Family Fund. This was to provide Christmas grants to certain members of the Family Fund, in line with the wishes of their trustees. Interest earned on the Restricted fund was £0 (2022: £0) and grants expenditure was £2k (2022: £2k).

Fenton Trust

Restricted donations of £20,000 and £15,000 were given to the Charity in March 2013 and September 2015 respectively to support current, former and retired civil servants of grades executive officer and above residing in the UK. This is to provide grants for essential household bills and items and help with mobility requirements. Grants expenditure in 2023 was £0 (2022: £0) due to no applications being received in the year.

Civil Aviation Authority Fund

A donation provided by the Civil Aviation Authority was restricted to provide help to CAA retired staff and their dependants. In 2023, the interest earned on the restricted fund was £0 (2022: £0) and £0 was spent (2022: £0) on applications from CAA retirees or their dependants.

56

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

The Black Bequest Fund

In 2019, the Northern Lighthouse Board donated to the Charity £1,719.62 which represents the closing funds of the James Coats Junior Ferguslie Paisley Memorial Fund, known as Black Bequest. The fund is restricted to be used to supply Lightkeepers or their dependants who are or have been in the employ of the Northern Lighthouse Board with benefits in line with those offered by the Charity. No interest has been earned on or money spent in 2023 (2022: £0).

Dementia Fund

In 2014, CSIS Charity Fund donated £28,000 to be spent on Dementia services. £1k was spent in 2023 (2022: £1k). The funds will be focussed on the development of digital engagement.

Dancey Legacy

During 2023, £26,500 was received from Mr Dancey to be used to help the British Home front servants.

Castle Legacy

During 2023, £18,007.16 was received from Mr Castle to be used to help ex customs officers.

Restricted Opening Income Transfers Expenditure Closing
Funds Balance between Balance
Funds
£000 £000 £000 £000 £000
Customs 13 (2) 11
& Excise
Family Fund
Fenton Trust 7 7
CAA Fund 5 5
Black Bequest 2 2
Fund
Dementia 17 (1) 16
Project Fund
DWP Legacy 1 0 1
Dancey 0 27 27
Legacy
Castle Legacy 0 18 18
Balance at 45 45 0 (3) 87
31 December
2023

57

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

Analysis of net assets by fund

Analysis of net assets by fund
Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2023
Intangible &
tangible fxed
assets
Investment
assets
Net Current
assets
Defned
Pension
scheme
£000
£000
£000
£000
Unrestricted
funds
962
25,837
245
-
Restricted
funds
87
Balance at
31 December
2023
962
25,837
332
Analysis of movements for the Year Ended 31 December 2022
Restricted
Funds
Opening
Balance
Income
Transfers
between Funds
Expenditure
£000
£000
£000
£000
Customs
& Excise
Family Fund
15
-
(2)
Fenton Trust
7
-
CAA Fund
5
-
Black Bequest
Fund
2
-
Dementia
Project Fund
19
-
(2)
Balance at
31 December
2022
48
1
(4)		 Total
£000
27,044
87
27,131
Closing
Balance
£000
13
7
5
2
17
45

Analysis of movements for the Year Ended 31 December 2023

Restricted
Funds
Unrestricted
funds
Restricted
funds
Balance at
31 December
2023		 Opening
Balance
£000		 Income
£000		 Transfers
between Funds
£000
287
45
332		 Expenditure
£000
-
-
-		 Closing
Balance
£000
962
-		 25,837
-		 27,086
45
962 25,837 27,131

58

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

16. Taxation

No corporation tax arises as the Charity for Civil Servants is a registered Charity, and is able to take advantage of the tax relief available to charitable bodies.

17. Pension

The Charity for Civil Servants participates in a non-contributory multi-employer defined benefit staff pension scheme, which was formed for all permanent members of staff, within certain age criteria, of the Charity for Civil Servants and certain other employers. The assets of the scheme are held separately from the assets of the Charity. The scheme has its own trustees who are responsible for the scheme which is administered on their behalf by Mercer. The scheme was closed to all staff for future benefit accrual with effect from 5 April 2004.

The Charity also operates a defined contribution group personal pension scheme which is administered by Legal & General. The Charity pays varying levels of contributions on behalf of the employees, based on their number of years’ service and levels of employees’ own contributions.

A full triennial actuarial valuation of the defined benefit scheme was undertaken at 6 April 2022 by an independent qualified actuary. This revealed a surplus, on the assumptions used, of £1,129,000. The employers’ historic recovery plan has therefore ceased with contributions limited to 50% of the expenses.

The Charity contributed £93k during 2023. The best estimate of contributions to be paid by the Charity towards expenses for the year beginning 1 January 2024 is £93k.

Detailed disclosures for the defined benefit pension scheme, in accordance with FRS102, are set out below.


set out below.
Fair value of scheme assets
Present value of scheme liabilities
surplus in Scheme		 2023
£000		 2022
£000
15,406
(14,386)		 15,369
(14,293)
1,020 1,076

The Charity has not recognised the pension surplus on its balance sheet as FRS 102 only permits a surplus to be recognised where the employer is able to recover that surplus either through reduced contributions in future or through refunds from the plan.

59

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

Reconciliation of opening and closing balances of the present value of scheme liabilities

2023
2022
£000
£000
Scheme liabilities at 1 January
14,293
22,044
Interest cost
697
392
Scheme expenses
-
-
Actuarial (gain) / loss
69
(7,510)
Benefts paid and expenses
(673)
(633)
Scheme liabilities at 31 December
14,386
14,293
Reconciliation of opening and closing balances of the present value of scheme liabilities
2023
2022
£000
£000
Fair value of scheme assets at 1 January
15,369
24,768
Change in employer’s share
-
-
Interest income
747
444
Actuarial gain
163
(9,657)
Contributions by employer
93
568
Scheme expenses
(293)
(121)
Benefts paid & scheme expenses
(673)
(633)
Fair value of scheme assets at 31 December
15,406
15,369
Amounts included within Statement of Financial Activities
2023
2022
£000
£000
Interest
(5)
53
Scheme expenses
(293)
(121)
Scheme expenses
(298)
(68)
Actuarial (losses)
(206)
(504)
Total (charged) to the Statement of Financial
Activities
(504)
(572)		 2023
2022
£000
£000
Scheme liabilities at 1 January
14,293
22,044
Interest cost
697
392
Scheme expenses
-
-
Actuarial (gain) / loss
69
(7,510)
Benefts paid and expenses
(673)
(633)
Scheme liabilities at 31 December
14,386
14,293
Reconciliation of opening and closing balances of the present value of scheme liabilities
2023
2022
£000
£000
Fair value of scheme assets at 1 January
15,369
24,768
Change in employer’s share
-
-
Interest income
747
444
Actuarial gain
163
(9,657)
Contributions by employer
93
568
Scheme expenses
(293)
(121)
Benefts paid & scheme expenses
(673)
(633)
Fair value of scheme assets at 31 December
15,406
15,369
Amounts included within Statement of Financial Activities
2023
2022
£000
£000
Interest
(5)
53
Scheme expenses
(293)
(121)
Scheme expenses
(298)
(68)
Actuarial (losses)
(206)
(504)
Total (charged) to the Statement of Financial
Activities
(504)
(572)		 2023
2022
£000
£000
Scheme liabilities at 1 January
14,293
22,044
Interest cost
697
392
Scheme expenses
-
-
Actuarial (gain) / loss
69
(7,510)
Benefts paid and expenses
(673)
(633)
Scheme liabilities at 31 December
14,386
14,293
Reconciliation of opening and closing balances of the present value of scheme liabilities
2023
2022
£000
£000
Fair value of scheme assets at 1 January
15,369
24,768
Change in employer’s share
-
-
Interest income
747
444
Actuarial gain
163
(9,657)
Contributions by employer
93
568
Scheme expenses
(293)
(121)
Benefts paid & scheme expenses
(673)
(633)
Fair value of scheme assets at 31 December
15,406
15,369
Amounts included within Statement of Financial Activities
2023
2022
£000
£000
Interest
(5)
53
Scheme expenses
(293)
(121)
Scheme expenses
(298)
(68)
Actuarial (losses)
(206)
(504)
Total (charged) to the Statement of Financial
Activities
(504)
(572)		 2022
£000
22,044
392
-
(7,510)
(633)
14,293
15,406 15,369
2023
£000		 2022
£000
(5)
(293)		 53
(121)
(298)
(206)		 (68)
(504)
(504) (572)

The cumulative amount of actuarial gains or losses recognised in the statement of recognised gains and losses since the adoption of FRS102 is £1,827k loss (2022: £1,621k).

60

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

Fair value of scheme assets

Fair value of scheme assets Fair value of scheme assets
2023
2022
£000
%
£000
UK equity
-
Overseas equity
3,155
20.5
3,213
Global equity
-
Absolute Return Bond Fund
3,697
Debt Instruments
3,292
21.4
-
Liability Driven Investment
-
Cash
159
1.0
155
Other
8,800
57.1
8,303
Total value of assets
15,406
100
15,368
Assumptions
2023
Infation (RPI)
3.3%
Infation (CPI)
2.9%
Discount rate
4.8%
Allowance for increase in pensions: lower of CPI or 5%
2.8%
(efective from April 2017)
Rate of revaluation of deferred pensions of CPI +1%
3.9%
Rate of revaluation for deferred pensioners: Lower of CPI or 5%
2.9%
Cash commutation allowance (% tax free cash)
-
Withdrawal allowance
-
Assumed life expectations (no. years) on retirement age of 60
- Retiring today: males
25.1
- Retiring today: females
27.8
- Retiring in 20 years: males
26.6
- Retiring in 20 years: females
29.3		 2022
£000		 %
-
20.9
-
24.1
-
-
1.0
54.0
100
2023 2022
3.4%
3.0%
5%
3.0%
4.0%
3.0%
-
-
25.7
28.2
27.3
29.7
3.3%
2.9%
4.8%
2.8%
3.9%
2.9%
-
-
25.1
27.8
26.6
29.3

61

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

The amounts for the current and previous periods are as follows:

Defned beneft obligation
Scheme assets
Surplus/(Defcit)
Adjustment due to limitations on
recognition of surplus
Experience adjustment: gain/
(loss) on scheme liabilities
Efect of changes in demograph-
ic/other assumptions re: the
present value of the scheme
liabilities; gain/(loss)
Return on scheme assets:
gains/(losses) assets		 2023
£000
15,406
(14,386)		 2022
£000
15,369
(14,293)		 2021
£000
24,768
(22,044)		 2020
£000
23,025
(23,363)		 2020 2019
£000
21,175
(20,875)
£000
1,020 1,076 2,724 (338) 300
(1,020)
34
34
(175)		 (1,076)
(869)
8,379
(9,657)		 (2,724)
(60)
958
1,678		 300
153
(2,767)
1,506		 (300)
678
(1,350)
2,464
18. Financial instruments 2023 2022
£000 £000
Financial assets measured at fair value 25,270 25,798
Financial assets held at fair value include assets held as investments

19. Related parties

During the year to 31 December 2023 the Charity recharged costs amounting to £0 (2022 £0) in relation to staff and office overheads to its wholly owned subsidiary CSBF Enterprises.

62

Charity for Civil Servants Notes to the accounts for the year ended 31 December 2023

20. Statement of Financial Activities for the Year Ended 31 December 2022

Income from
Donations and legacies
Other income
Investment Income
Total income
Expenditure on
Raising funds
Fundraising & Engagement
Investment management
Total costs of raising funds
Charitable activities
Alleviating need
Total charitable expenditure
Total expenditure
Net expenditure for the year
Net gains on investments
Actuarial gain on defned beneft pension scheme
Net movement in funds for the year
Reconciliation of funds
Funds brought forward at 1 January 2022
Funds carried forward at 31 December 2022		 Unrestrict-
ed Funds
£000
4,763
26
345
5,134
1,323
95
1,418
7,129
7,129
8,547
(3,413)
(2,594)
(504)
(6,511)
34,852
28,341		 Unrestrict-
ed Funds
£000
4,763
26
345
5,134
1,323
95
1,418
7,129
7,129
8,547
(3,413)
(2,594)
(504)
(6,511)
34,852
28,341		 Unrestrict-
ed Funds
£000
4,763
26
345
5,134
1,323
95
1,418
7,129
7,129
8,547
(3,413)
(2,594)
(504)
(6,511)
34,852
28,341		 Restricted
Funds
£000
1
-
-
1
-
-
-
4
4
4
(3)
-
-
(3)
48
45		 Restricted
Funds
£000
1
-
-
1
-
-
-
4
4
4
(3)
-
-
(3)
48
45		 Restricted
Funds
£000
1
-
-
1
-
-
-
4
4
4
(3)
-
-
(3)
48
45		 2022
Total
Funds
£000
4,764
26
345
5,134 1 5,135
1,323
95		 -
-		 1,323
95
1,418 - 1,418
7,129 4 7,133
7,129 4 7,133
8,547 4 8,551
(3,413)
(2,594)
(504)		 (3)
-
-		 (3,416)
(2,594)
(504)
(6,511)
34,852		 (3)
48		 (6,514)
34,900
28,341 45 28,386

63

Signature: 64