**The Civil Service Benevolent Fund** 

**the Charity for Civil Servants** 

1 



CHARITY FOR CIVIL SERVANTS
ANNUAL REPORT AND ACCOUNTS
For the year ending 31 December 2024
The Civil Service Benevolent Fund operating as the Charity for Civil Servants

CONTENTS
Page
Chair's foreword
CEO'S statement
Trustees, annual report, comprising
Trustees, strategic report
Impact report
7-15
Financial Review
16-22
Trustees, administrative report
23-28
Auditorfs report
29-32
Financial statements comprising
33-58
Statement of financial activities
33
Balance sheet
34
Cashflow
35
Notes to the accounts
36-58
Thank you to our support partners
59

CHAIR'S FOREWORD
Welcome to your Charitys Annual Report
and Accounts for 2024. Now more than ever,
it's vitally important that the Charity for Civil
Servants is here to support all civil senlants,
past and present, when times are tough,
listening withoutjudgement and offering
practical, financial and emotional support.
I would also like to pay tribute to the hard-
working staff of the Charity and my fellow
Trustees for their commitment and continued
determination throughout the year.
Times continue to be tough but with a new
2025-29 strategic plan in place, the Trustees,
Executive Team and l are confident that the
Charity for Civil Servants is set to meet the
growing demands for our services.
We want civil servants to think of us as
an umbrella - here to support whatever
difficulties they are facing.
In September 2024,1 was pleased to welcome
As chair of the charity and reflecting on the
our new CEO,Jonathan Freeman, MBE who
impacts in 2024,1 can report that the Charity
is steadfastly leading the Charity with some
spent over £3.2m responding to over 70,000 great initiatives planned across the year
instances of help, providing almost £1.5m
ahead.
in financial support- despite some tough
resource challenges across the year.
Finally, I'd like pass on thanks once again
from all Trustees to everyone in the Charity.
In 2024, the Charity worked more closely
The Charitys work makes such an important
than ever with a whole range of stakeholders difference to the lives of so many people and
across the Civil Service, forging stronger
that is something of which you should be
relationships with Government People
rightfully proud.
Group, others in Cabinet Office alongside
many departments and staff networks. We
continue to work with other charities to
share insight to make sure we can respond
appropriately to the support civil seroants
need.
Sir Peter Schofield KCB
Chair of Trustees
The Charitys very own Civil Service Mental
Health and Wellbeing Conference in October
was once again a huge success, improving
on the year before. Our community yet again
showed an enthusiastic response to our hero
campaign, the annual Mega Miles Challenge,
where several hundred people took part, and
thousands was raised. Plans are in place for
the 2025 challenge, seeking to increase with
bold signup and fundraising targets.
Alongside support from 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, whose
dedication and support makes such a
difference.

CEO'S STATEMENT
It is an honour to be CEO of the Charity of
the engagement we are receiving from the
Civil Servants, having been appointed to the
Cabinet Secretary to Permanent Secretaries
Charity in September 2024. In this short time, and civil servants at all levels, up and down
a real sense of momentum has developed
the country, has been so encouraging. For
around the Charity's growth and impact.
me, the Charity has to be at the heart of
Building on these positive foundations to
the Civil Seniice and it is clear that our
ensure a vibrant, growing Charity is my
community agree.
priority.
It's been heart-warming to learn about how
much support the Charity has at events like
Civil Service Live, for our hero campaign
the Mega Miles Challenge, and to see the
thousands that took part in our annual
Mental Health and Wellbeing Conference.
This demonstrates that the Charity has a
really important place within that wider Civil
Service community that we value so much.
A key area of focus in the final quarter of
2024 was putting in place a strategic plan for
growth for the next five years, ensuring we
are supporting more people in better ways
than ever before. Added to this, we have
also established a clear business plan for
2025 to put us on a positive and sustainable
trajectory. To be able to meet the growing
demand for the Charitys support over this
period, we have to take swift and decisive
action to address the long-standing gap
between income and expenditure. Bluntly,
this means we need to deliver a step change
in our income generation if we are to retain
I was once asked what I thought was the key
current levels of support to our beneficiaries. to good leadership? My response was that it
is to surround yourself with brilliance. And I
Alongside these new plans, we have also
am very proud to say that is exactly how I feel
developed the Charitys values framework.
about our team at the Charity, because we
which is a fundamental part of our structure
really are Better Together.
moving forward. It is really important that
as a staff team we all spend our days in an
organisation where we align with how we
all work together. This is about ensuring the
Charity is accountable, decisive and kind - all
key elements of this values framework.
The positive impact of our collective efforts is
already showing and will, l am sure, continue
to show in the years to come.
What we saw at the end of 2024, and now
Jonathan Freeman. MBE
into the start of 2025, is that it really is worth Chief Executive Officer
embracing such drive and change so that we
can deliver more support for our community
than ever before.
We can only deliver our mission because of
the support of so many thousands of civil
servants across the country getting involved
in our events, volunteering their time and
donating to the Charity.
We see a real sense of drive and energy
growing within the civil servant community.
supporting us like never before. In particular,

## **Our Purpose** 

## **Our Charitable Purposes** 

## **Our Mission** 

4 



ACHIEVEMENTS AND PERFORMANCE
STRATEGIC REVIEW OF 2024
In 2024, we reduced our budget forecast for grants and support and adapted our policy to
ensure that we did not diminish our help numbers or impact. This was achieved through
slight reductions on some "tide overf, payments and the extension of limited services from 6
months to one year. This was successful in terms of reaching targets from our 2024 business
plan, however the 2025 budget for direct financial assistance is forecast at £1.7m to allow for
increased cost of living and the impact of widening eligibility. We continue to focus on ensuring
that we have the skills and experience across our teams and that our people are equipped to
deliver the Charitys mission.
In terms of trends, payments for disability were high in the first two quarters of 2024 and
settled down in the last two. However we have noticed a lessening of local authority support
which will be reviewed in 2025 as charities cannot be seen as the primary source of financial
support. We continued to have a high number of approaches from people struggling with poor
wellbeing, and we have found the Thrive app to be an extremely effective solution providing
a range of wellbeing support and therapy with very positive outcomes reported. Other apps
providing effective support at very reasonable cost are the Law Express app which also offers
phone calls to a specialist adviser, and the Grief Works app offers a wide range of activities
and support to anyone struggling with bereavement and loss. We continue to invest in income
growth, including growing income from existing activity, working to diversify income streams
and building long term loyalty to the Charity to ensure we can deliver our services now and for
generations to come.
AMBITIONS AND PLANS FOR 202S
By the end of 2029, our goals are to be increasing our income and
providing help to even more people in need, achieving financial
sustainability.
This means that we intend the Charity to be in a break-even financial
position by the end of FY2029. This transformation will take time.
The aim for 2025 is to reduce the size of our annual deficit by approximately £0.6M compared
to FY2024.
In terms of income, the 2025 budget is based on an overall increase of some 14% compared to
2024.
We are planning to return overall spend on our Help, Advice and Services (HAS) back to the
level originally planned for 2024. We feel strongly that the long-term success of the Charity is
dependent on our ability to meaningfully respond to the growing demand on our services.
We are planning some important investments in non-staff costs, largely in order to provide the
structures and systems essential to our plans for significant longer-term income generation.
The plan also provides for some modest capital investment, mainly to develop our staff team
but also in line with our commitment as a responsible and sustainable landlord of our head
office building.

STEPHANIE'S STORY
When Stephanie experienced a pulmonary embolism leaving her unable to work, she reached
out to the Charity for Civil Servants for help.
A member of our help team listened, understood and tailored our range of services to
support Stephanie's individual needs. This meant we provided a listening ear, signposted
her to wellbeing services and provided financial support to get her through that particularly
difficult period in her life.
"I FELT LIKE THE RUG HAD BEEN PULLED FROM UNDER MY FEET
AND THE HELP FROM THE CHARITY CAME AT A TIME WHEN I
REALLY NEEDED IT. THE FINANCIAL AND EMOTIONAL SUPPORT
MEANT THAT I COULD KEEP GOING."
"DON'T UNDERESTIMATE THE IMPACT YOUR DONATIONS MAKE.
NO MATTER HOW SMALL. EVERY SINGLE DONATION MEANS
SOMETHING AND MAKES A DIFFERENCE."
*Some elements of this story have been anonymised or changed to protect the person's identity.

IMPACT REPORT
Service Delivery
Key points to highlight
The value of listening to people cannot be overstated - and we do
this throughout our work whether people are looking for financial
assistance, debt advice, or wellbeing and caring support.
Our feedback has consistently evidenced that people feel listened
to and notjudged for their situation, and that we look for what we can help with rather than
what we can't help with, signposting effectively where we can't directly provide the support
needed.
To ensure we provide relevant services, we listen to our community. One example is
throughout the year we have supported Departments with Listening Circles where specific
issues have been identified. The Listening Circles concept allows attendees to attend and
contribute with anonymity. Departments then receive a report detailing common themes
emerging and conclusions. Feedback received shows the Listening Circles have been valued
and we are delighted to have been able to help with a wide range of issues. This insight gives
us valuable information about emerging needs to develop new services, such as the benefits
checker on our website, with with over 1,221 calculations completed in 2024 to help people
claim the benefits they are entitled to.
We made several large life-changing grants for adaptations to homes- this reflects the wider
problem of the shortage of housing stock, in particular adapted and accessible properties.
THE CHARITY FOR CIVIL SERVANTS
HELPED PEOPLE OVER
t?¢,00 ,
TIMES.

i£,000
PEOPLE SIGNED
UP FOR THE
MENTAL HEALTH
& WELLBEING
CONFERENCE
SOMEONE ASKED THE CHARITY
FOR HÈLII EVERY
MINUTES

MALCOLM'S THANK YOU LETTER
"I'm writing to express my familys gratitude to the Charity for Civil Servants. We remain
forever grateful to the people in the help team who I spoke to. We want to send our sincere
thanks for all they did, for stretching out a hand and a listening ear to someone who was as
distraught as I was.
We were told that we needed a complete rewiring of the house as the electrics were
dangerous, that it was only a matter of time before it would cause a fire. As a family, we were
at the end of our tether as there was no way that we could afford the cost.
We had to use a torch through most of the winter and if we did turn a light on, it was for as
little time as possible... it was horrendous. I was in a bad way emotionally, as was my wife
who already suffers from severe anxiety and depression.
l eventually got in touch with the Charity for Civil Se￿ants. I spoke to someone on the phone
who was really reassuring and throughout the application process, bent over backwards to
do all they could to help us. Because of the emotional state I was in, I was also referred to the
Charitys wellbeing services.
I can only say the person I spoke to was the nicest, kindest and most helpful person that I
have ever spoken to. They fully understood the predicament we found ourselves in and did
everything in their power to help us. They really are a credit to the Charity.
When the Charity said they could help cover the costs, it was such a tremendous relief to
both myself, my wife and our disabled son who also lives with us. Now that the rewiring
is complete, I cannot stress highly enough how relieved we are to finally stop living by
torchlight, in constant fear of causing a fire. We are now safe thanks to the Charity's help.
I worked as a civil servant for over 15 years and I'm proud to donate to such a worthwhile
cause.
*Some elements of this story have been anonymised or changed to protectthe person's identity.

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:
Eligibility- the applicant must be a current, former or retired eligible person, or their
financial dependant;
Circumstances underlying the need, for example ill health, caring, bereavement,
domestic abuse, relationship breakdown, reduced income or unsafe accommodation;
Need - identifying the specific needs and which needs should be prioritised;
Alternative resources - for example entitlement to benefits, or grants from other
charities. In some cases, this may be additional help rather than alternative help.
Grants include financial help payments for a range of situations, including household items
and bills, mobility equipment and adaptations, payment to third paty suppliers for advice
and counselling, and digital apps and resources to support wellbeing.
An interim policy was reviewed and agreed by the Board of Trustees for the period of
January 2023 to December 2024, extended into 2025 with a full policy review in July 2025 to
implement from September 2025.
AMBITIONS AND PLANS FOR 2025 FOR HAS (HELP, ADVICE
AND SERVICES)
The strategic aim in 2025 for Help, Advice and Services is to deliver powerful social impact
through the provision of high quality and relevant help, advice and support to our community.
This will be through a mix of digital and casework support- delivering 6,800 financial grants,
as well as 1,000 caring, wellbeing and money advice cases. We aim to reach at least 15,000
people in our collaboration with Government People Group at the Mental Health and Wellbeing
Conference in October, with an additional 5,000 reached
through specialist webinars. We will continue to develop
relevant services, including digital resources for 2417 support.
We will continue to improve our application process for
help and create a mid/later life wellbeing plan for those
approaching or in retirement.
dlk
We're working on understanding more about our social value,
with an interim study of some of our key outcomes to provide
baselines and external validation of the range of services and
financial assistance we offer. This will be followed by refreshed
evaluation from the summer of 2025 to provide ongoing
feedback on our performance to increase our relevance and
our reach. Alongside this our help data will identify any gaps in
provision, and we will continue to collaborate with workplace
support, staff networks and partner organisations to
complement and add value to workplace and other support.
10

A YEAR IN FUNDRAISING & COMMUNICATIONS
Throughout 2024 we worked to build
awareness of the help the Charity offers,
while strengthening relationships with key
stakeholders to grow our access to audience
and increase fundraising.
Fundraising for the Charity included our
generous regular donors, most of whom
donate monthly through their pay, as well
as those who take part in our Community
Lottery, participate in our fundraising
events, leave a gift in their will, give a grant
or organisational donation or make a gift
through our website or by post.
Our work with the Civil Service community
continued to grow with involvement in the
Cabinet Office led 'Charities & Partners Week,
in April. Followed in May by over 4,700 people
taking part and raising funds through the
Mega Miles Challenge, bringing together
colleagues across the UK Civil Service.
Duringjune and July, the Charity was an active
part of Civil Service Live, a conference which
takes in seven venues across the UK and a
chance for civil servants to hear about the
services and support the Charity offers.
The Charity delivered the online Mental Health
and Wellbeing Conference in October with
12,000 participants registered to hear about
topics including mental health, bereavement
services and financial support and advice.
The year finished with our Festivejumper Day
event, again bringing together civil servant5
across the UK to support their Charity.
As ever, we would like to take this opportunity
to thank every single person and organisation
who supported the Charity for Civil Servants
through making a donation, raising funds or
giving their time.
We could not do it without your generous
support.

LOOKING AHEAD
We are focussed on delivering our strategy
and to establish a strong and sustainable
funding position for the Charity through an
effective and innovative range of fundraising
approaches that inspire and engage our
community and other supporters.
Our income target for 2025 is £4.3m
representing over 12% growth year on year.
We will be focussed on diversifying income
channels as we seek to build sustainability
over the coming years.
This will include recruiting over 4,000 new
regular donors to the Charity, engaging
grant givers and corporate donors and
growing our legacy giving programme. Our
Communications team and our Community
Fundraising & Engagement team will be
focussed on ensuring we build awareness
across the UK.
RESPONSIBLE FUNDRAISING
AND MARKETING
We always endeavour to maintain the highest
standards of ethics and welfare when we
deliver our fundraising and communications.
Our supporter promise outlines the
commitment made to our supporters and
the public, affirming that we ensure that
our fundraising is legal, open, honest and
respectful.
GOALI
Our responsible management of our
fundraising and communications includes
a Data Steward to ensure we operate in
compliance with UK legislation around data
and privacy, procedures and mitigations in
place to secure {Cyber Essentials Certified)
and maintain accurate and up-to-date
records, safeguarding to ensure we look after
vulnerable supporters and an ethics policy
to ensure our approach adheres with our
charitable purpose and legal requirements.
The Charity is registered with the Fundraising
Regulator and income generation activities are
aligned with the Code of Fundraising Practice.
Our website outlines our complaints and other
policies for the public and clearly explains how
an individual can contact the Charity. As with
previous years, no complaints were lodged
with the Fundraising Regulator in 2024.
12

11
OUR NORTH STAR
To embed the Charity for Civil Servants
back into the heart of the
Civil Service community
STRATEGIC VISION
By the end of 2029, our goals are to be increasing our income
and providing help to even more people in need,
achieving financial sustainability
STRATEGIC
AIM1
STRATEGIC
AIM2
STRATEGIC
AIM3
Deliver powerful
social impact through
the provision of high
quality help, advice
and support to our
community.
Establish a strong and
sustainable funding
position through
effective and innovative
fundraising approaches.
Ensure that the Charity is
increasingly well
respected, actively
supported and promoted
across our Community.
ENABLING AIM
Provide effective support to the Help, Advice & Services and Fundraising &
Communications teams, providing insightful information while enabling sound
decisions and ensuring that our people are developed and motivated in their roles.
ACCOUNTABLE
COLLABORATIVE
DECISIVE
INCLUSIVE
KIND
13

## COLLABORATIVE We deliver better impact by working and learning together 

We value, respect and empower everyone to contribute to their fullest 

We are honest, open and considerate of each other 

We are focused on delivery and outcomes at pace 

We take ownership of our actions and decisions with integrity and responsibility 

14 14 



JACK'S STORY
Just like any other ordinary afternoon, Jack was making his way home from work. When he saw
his Dad's number flash up on his phone, he had no idea how serious the call would be.
"Dad gave me a call and told me Mum had been in a car accident. When I got to the scene, I
could see the traffic built up all the way down the road. I had a million thoughts racing through
my mind, a lot of anxiety and fear. l just tried to focus on what I had to do to help Mum."
Now that the family were facing an emergency,Jack focused his attention on handling the
paperwork surrounding the car accident in addition to his mum's physical and mental wellbeing.
This leftjack's own wellbeing as a second priority, and he became exhausted. Thays when he
decided to approach his very own charity for help.
"I wasn't sure what I needed at that point, but I know I wanted to talk to someone. My line
manager could tell I was struggling and recommended reaching out to the Charity for Civil
Servants. I spoke to a member of the help team and felt like I was in a safe space. I felt like they
were really listening to me."
When Jack reached out for help. we were there for him. We scheduled an official conversation
with a member of our wellbeing team who talked throughJacKs situation and how he was
feeling. Together, they worked out a positive path forward.
Jack shifted his focus on taking the next step with his girlfriend and moving into their own place
together. Now in a much happier place. he wants to encourage his colleagues to reach out for a
charity they can always call their own.
"A CONVERSATION CAN SOUND INSIGNIFICANT BUT THE WELLBEING
CONVERSATION WITH THE CHARITY WAS A SIGNIFICANT THING
FOR ME. THE CIVIL SERVICE IS FULL OF PEOPLE LIKE ME WHO ARE
SOCIALLY ORIENTATED AND WANT TO TAKE STEPS TO MAKE
THINGS BETTER. THAT WELLBEING CONVERSATION HELPED ME
MAP OUT MY OWN FEELINGS AND FIND A WAY FORWARD."
*Some elements of this story have been anonymised or changed to protect the person's identity.

FINANCIAL REVIEW
OVERVIEW
In 2024, the Charity recorded net expenditure of £2.8m (2023:
£3.6m) 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 Charitys investments, which was a gain of £1.2m
(2023 gain of £1.8m) and the gain on the defined benefit pension scheme of £106k (2023 gain
of £204k).
Net assets at the year-end were £25.7m, down £1.5m on 2023 (£27.1 m). The Charity's
Investment portfolio was valued at £23.7m at 31 December 2024 which was down £1.6m
on December 2023 (£25.3m) reflecting the gains of £1.2m, dividends and interest income of
£0.7m and £3.3m divested to fund the Charit5ls activities.
INCOME
In 2024, total income was £4.6m (2023 £4.4m).
4%
616
296
Regular contribution5 for
individuals1£3,009kl
6%
Investment Income1£690kl
Donations1£256kl
Events & community giving1£103kl
15%
Major Giving1£253kl
Legacies1£201 kl
65%
Other Income1£84kl
The principal source of the Charit5ls income remains regular monthly contributions from
individuals, both serving and retired civil servants. Together with Gift Aid, this source of
income accounted for over 65% of the Charitys total income (2023: 72.6%). At £3.Om, regular
contributions are down £0.2m on the previous year, following the pattern of decline.
Major giving amounted to £253k (2023: £221 k) including Cabinet Office Grant £11 Ok (2023:
£11 Ok), CSIS Charity Fund for £75k (2023: £75k) and £59k {2023: £25k) from the Northern
Ireland Civil Service (NICS).
Legacy income was down at £201 k (2023: £280k).
Income from investments was £0.7m in 2024 (2023: £0.5m). The CharitYs portfolio is invested
in pooled funds with Columbia Threadneedle and the interest is reinvested in the funds.
16

EXPENDITURE
FUND MANAGEMENT
Total expenditure for the year is £7.3m (2023: The longer-term investments are managed
£8m) with £6.2m (2023: £6.7m) being spent
in a dynamic pooled fund with Columbia
on charitable activities.
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.
Costs of raising funds were £1.2m (2023:
£1.3m) and included elements of staff costs
and overheads.
Total staff costs of £4.3m (2023: £4.3m) were
included within direct activities and support
costs. The average number of staff {on a full-
time equivalent basis) in 2024 was 75 (2023:
85).
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.
The Charity withdrew £3.3m in the year
(2023: £2.7m) from its investment portfolio
to fund its expenditure in line with its plan to
use its reserves to support civil servants.
INVESTMENT
MANAGEMENT
INVESTMENT
PERFORMANCE
The purpose of this activity is to generate
The value of the portfolio at 31 December
investment returns to make the best possible 2024 was £23.7m (£25.3m at 31 December
sustainable contribution to the Charitys
2023). The Charity divested £3.3m in the year
activities in the current and the long term.
to fund its activities and there was a £1.2m
increase in market valuation, and dividend
As set out in the reserves section, the Charity income of £0.6m. The short-term money
is intending to utilise some of its reserves
over the next five years by divesting from
market portfolio was up 4.7% and the long-
its portfolio over this period. As a result,
term portfolio was up 7.9%, reflecting global
under its Investment Policy, the Charit5ls
market volatility and performance. The
investments are split into a short-term and
Charitys investment performance objectives
are set over a three-year horizon to allow
long-term pool of assets. The objective of the for short-term downturns. The I nvestment
short-term pool is to be available to provide
Committee has reviewed benchmark
suitable liquidity and capital protection to
meet anticipated drawdowns over a 1-2 year
data of comparable funds provided by an
time horizon and to avoid the need to be in a
independent investment adviser and is
forced sale position in respect of the fund in
satisfied with the overall performance, given
which the long-term pool is invested.
the mitigating circumstances of current
global market challenges. Movements in the
Charitys investment holdings during the year
and an analysis of the portfolio at year-end
are shown in note 1 Oa to the Accounts.
17

APPROACH TO
ENVIRONMENT. SOCIAL AND
GOVERNANCE (ESG) ISSUES
RESERVES
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
In selecting the Charity's investment
contribute to stability and continuity of the
managers, the Investment Committee took
Charity into the future to support future
into consideration the approach taken to
beneficiaries. The Trustees determine the
ESG in investing. Columbia Threadneedle's
need for reserves by reference to several
approach is to integrate ESG into its
factors which they keep under regular
investment research in companies to build a
review, including the time needed to
fuller picture of the risks and opportunities
reverse the recent declines in regular giving
of all investment opportunities, based on
from individuals and the extent to which
the belief that sustainable business models.
the remainder of its income is dependent
organisational stability and the ability to
on many small donations and grants.
effect positive change, are more likely to
It considers fluctuations in beneficiary
deliver value to all stakeholders including
expenditure and future levels of demand
shareholders. Columbia Threadneedle uses
for the help and services provided by the
'active ownership, so that through continuous Charity. It also reflects the estimated buy-out
monitoring, targeted engagements and
cost of the Defined Benefit Pension Scheme
strategic voting it drives change and helps
which had reduced to £793k December 2024
create future value. Columbia Threadneedle
(the last triennial valuation). Based on its
includes responsible investment metrics in
current analysis, the Trustees feel that the
their regular reporting including: a Columbia
Charity should continue to retain reserves of
Threadneedle ESG Materiality rating, Carbon
between £20m and £25m.
Intensity, Controversies Exposure and MSCI
ESG Score. Both funds outperformed the
Columbia Threadneedle benchmarks set on
these metrics.
Of our total Charity funds of £25.7m, total
unrestricted funds were £25.6m at 31
December 2024. In assessing our level of free
reserves, we exclude the fixed assets of £1 m
as these assets cannot be quickly disposed
of. This leaves free reserves of £24.7m (2023:
£25.7m) which isjust within the target level
of £20m to £25m (2023: £20m to £25m).
The Trustees expect reserves to decline
over the next few years as we develop the
Charitys 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 £85k
as at 31 December 2024, details of which are
set out in note 14 to the accounts.
18

GOING CONCERNS
PENSIONS
The Trustees have assessed the Charitys
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 2026, 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 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 Charitys
balance sheet.
The Charitys principal source of income
continues to be regular monthly
contributions from individuals, both serving
and retired civil servants. This represented
approximately 65.5% of the Charitys income
in 2024. As reported in the financial review.
contributions in 2023 reflected a net 7%
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.
Contributions paid by the Charity during the
year were £93k.
The value of our share of the scheme's assets
remained stable at £14.5m while the value
of the scheme's liabilities (under FRS102
principles) dropped in 2024 from £14.4m to
13.2m resulting in a surplus of £1.2m. The
Charity does not to recognise this surplu5
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 Charitys 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.
After considering these factors, the
Trustees have concluded that there are
no material uncertainties, and 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.
19

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 and mitigations being taken in response to each risk.
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:
The Charity has seen a decline in the number of regular donors over the last decade
and income from regular donations has fallen. If this decline in regular income is
not reversed or other sources of income found, this could threaten the longer-
term future of the Charity and its ability to help civil servants. Plans to address this
include a targeted fundraising strategy following the 2023 brand refresh, focused
interaction with the major Civil Service departments to drive employee engagement
with the Charity, and marketing to promote the Charitys purpose that will increase
the Charitys perceived relevance and reliance on donations. The Board is aware that
these efforts will take time to pay off and reverse trends in income. Whilst this risk
has impacted on the Charitys net income, the Charity currently remains in a strong
financial position.
A key financial risk for the Charity is a significant loss in value of its investment
portfolio. The Charity is a long-term investor with a significant portfolio and can
sustain short-term market fluctuations. As set out above, the Charitys investments
are managed by professional managers and the Charity has access to further
independent investment advisers. The Charity has divided its portfolio with an
amount to cover its short-term cash requirement held in a separate low volatility
liquidity fund. The long-term portfolio is in a fund that targets a real return but with
2/3rds or less of equity volatility. The performance of the managers and the achieved
volatility is reviewed by the Investment Committee quarterly.
20

REMUNERATION
REMUNERATION POLICY
SENIOR MANAGEMENT PAY
Oura
roach to
at the Charit
The Charitys 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 senior-
level 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.
The Charity had 77 staff as at 31 December
2024, which equates to 70 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 Charitys chair and includes other
members ofthe Board, who offer pay
expertise in the Not for Profit and other
sectors.
All other staff salaries are set by the
For the purposes of disclosures under the
Executive Team. Salaries are arranged in pay Charities SORP (FRS 102), senior management
grades across the Charity, using external
independent benchmarking and comparison
is defined as the Chief Executive Officer
data within the Charity and Not for Profit
and the other three directors responsible
sectors, and considering affordability at the
for Finance and Resources, Help, Advice
Charity. Salaries are clearly advertised when
and Services, and Fundraising and
recruiting for new roles. At the Charity, we
Communications.
believe in recruiting and retaining high-
calibre people to represent the organisation's
interests. We believe in rewarding staff fairly
for the jobs that they do and provide a single The Chief Executive and Directors participate
streamlined salary and grading framework
in performance appraisal annually as part of
for all staff, which is equitable and consistent the appraisal scheme operated for all staff. In
with the principle of equal pay for work of
the case of the Chief Executive, this includes
equal value.
seeking detailed feedback from the Chair and
Trustees.
BENCHMARKING
The Charity works hard to retain staff who
have been recruited for the specific skills
Staff pay levels are reviewed annually. The
that they bring to their particular role. Pay
annual pay award is reviewed by the Head
and reward are determined to ensure that
of People and Payroll and the Charitys
we can recruit people with the right skills
Executive Team and is communicated to the
in a competitive market. Many of our staff
Charitys nominated union, PCS. The same
have detailed knowledge, some of which
benefits, apart from annual leave allowance,
15 unique to the Charity and could not be
including pensions and terms and conditions,
easily replaced. Our staff pay scales and total apply to the Chief Executive and Directors, as
reward package reflects our commitment to
all other staff. Annual pay increases for the
retaining and motivating our staff.
Chief Executive and staff are aligned. In 2024,
a 5% pay increase was awarded to all staff.
21


## **Gender Pay Gap:** 


**----- Start of picture text -----**<br>
Gender FTE Salary FTE Salary<br>Male<br>Female<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
Gender FTE Salary FTE Salary<br>Male<br>Female<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
Salary Quartile Male Female<br>Overall 30% (23) 70% (54)<br>**----- End of picture text -----**<br>


22 



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 is governed by its Articles of Association dated 16June 2010. The Trustees have
carefully considered the aims of the Charity and how it measures up to the Public Benefit
test. Further detail on the Charitys aims and objectives are provided on page 4. 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 Charity has been granted continuous patronage by The Monarch since Queen Victoria in
1886. Following the death of our Patron, HM Queen Elizabeth11 in 2022, we are delighted that
His Majesty King Charles111 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 (c) to the accounts.
23

TRUSTEES AND ADVISORS
The Charity is governed by a Trustee Board of between 8 and 12 Trustees. Under the CharIt￿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 2024:
Sir Peter Schofield KCB (Chair)
Sonia Phippard (Vice-chair)
David Kuenssberg
Matthew Brook
Clara Lane
Angela MacDonald
James Renwick
Jaspal Roopra
Mal Singh
Michael Smith
Luke Treadwell
The following Trustees retired during 2024:
Joanna Dally
The following Trustees were appointed during 2024:
Angela MacDonald - appointed 12.07.24
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.
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.
24



**----- Start of picture text -----**<br>
Nominations and  Investment Finance and Audit<br>Remuneration  Committee Committee Group<br>Committee<br>**----- End of picture text -----**<br>



**Auditor: Bankers: Solicitors:** 

25 



TRUSTEE APPOINTMENT, INDUCTION AND TRAINING
The Charity recruits new trustees on a regular basis to maintain an effective Board and
appoints new trustees in line with the Articles of Association. The process of appointment
is informed by reviewing our skills and board effectiveness review to determine skills gaps
within the Board of Trustees. All nominations of potential new appointments are reviewed
by the existing Board of Trustees. Where a vacancy occurs outside of the annual recruitment
process, trustees may be appointed to the vacancy until the next Annual General Meeting.
New trustees go through a comprehensive induction programme to ensure they understand
the objectives of the Charity and their responsibilities as trustees.
SAFEGUARDING POLICY
Safeguarding is everyone's responsibility. The Charity for Civil Servants has a duty of care to
safeguard people we help, people who support us and volunteer with us, staff and Trustees.
We have a responsibility to safeguard children and vulnerable adults. Vulnerable can refer to
the situation someone is in, or refer to a lack of mental capacity, mental or physical frailty, for
example an inability to communicate. dementia or mobility impairment.
A safeguarding issue can arise in any setting and can be immediate concern or an allegation
about something happening now, in the past or in the future. It can be one incident or a
series of incidents.
We have a policy, procedures, information and training so that all staff and volunteers can
identify and respond appropriately to safeguarding concerns, reporting to relevant agencies
such as the police or local authority safeguarding bodies. The policy also refers to other
policies, for example whistleblowing.
The Board of Trustees delegates a Safeguarding Trustee Lead. The other Safeguarding Leads
at the Charity are the Director of HAS, the Head of HAS Operations and the Chair of the
Safeguarding Group. The Safeguarding Leads respond to incident reports. The Safeguarding
Group reviews policy, best practice and procedures. This group consists of the Safeguarding
Leads and representatives from the Charity at all levels.
An annual update and report are submitted to the Board of Trustees. All serious incidents are
reported to the Board of Trustees as they occur. and we notify The Charity Commission of
any serious incident.
26

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:
Select suitable accounting policies and then apply them consistently,.
Observe the methods and principles in the Charities Statement of Recommended Practice
(SORP);
Make judgments and accounting estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any
material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue in business.
The Trustees are responsible for keeping proper
accounting records that are sufficient to show and explain
the charitable companys 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.
YJER+i1
The Trustees at the date of approval of this report have
confirmed, as far as they are aware, that there is no relevant
audit information (information needed by the Charity's auditor in connection with preparing
the audit report) of which the Charitys 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 companYs auditor is aware of that information.
CHARITY GOVERNANCE CODE
The Charitys 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. The 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.
27

The Charitys governance structures continued to work well during 2024, 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
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 Charitls governance standards and on increasing its overall effectiveness as
an organisation and will undertake a board effectiveness review in 2025.
This Annual Report, which incorporates the Trustees, Strategic Report and Administrative
Report, was approved by the Trustees on the [21/0512025], and signed on their behalf by:
Sir Peter Schofield KCB
Chair, Board of Trustees
[21 /0512025]
28

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 2024 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:
give a true and fair view of the state of the charitable companys affairs as at 31 December
2024 and of the group's and parent charitable companls net movement in funds,
including the income and expenditure. for the year then ended:
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
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 Auditorfs 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 suffficient 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.
29

## **Other information** 

## **Opinions on other matters prescribed by the Companies Act 2006** 

## **Matters on which we are required to report by exception** 

30 



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 companys 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
auditorfs 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 managemenys 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:
Inspecting correspondence with regulators and tax authorities,.
Discussions with management including consideration of known or suspected instances of
non-compliance with laws and regulation and fraud,"
Evaluating management's controls designed to prevent and detect irregularities;
Identifying and testingjournals, in particularjournal entries posted with unusual account
combinations, postings by unusual users or with unusual descriptions; and
31

Challenging assumptions and judgements made by management in their critical
accounting estimates
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 auditorfs 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.
Steve Harper (Senior Statutory Auditor)
For and on behalf of Haysmac LLP. Statutory Auditor
10 Queen Street Place
London
EC4R 1AG
30/05/2025
32


**----- Start of picture text -----**<br>
Unrestricted  Restricted  2024<br>Funds Funds Total<br>Funds<br>Income from Note £000 £000 £000<br>2 3,581<br>Other income 3 298<br>Investment income 4 690<br>Total income 4,569<br>Expenditure on<br>1,085<br>113<br>1,198<br>Charitable activities<br>6,153<br>Total charitable expenditure 6,153<br>Total expenditure 5 7,351<br>(2,782)<br>11a 1,197<br>(1,585)<br>11b -<br>17 106<br>Net movement in funds for the  (1,479)<br>year<br>Reconciliation of funds<br>27,131<br>1 January<br>Funds carried forward at  25,652<br>31 December<br>**----- End of picture text -----**<br>





33 



||||||||||||**2024**<br>~~_~~|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||**Total**<br>~~_~~|
|||||||||||**Note**|**£000**<br>~~_~~|
|**Fixed assets**||||||||||||
|Intangible assets||||||||||**9**|**351**|
|Tangible||||assets||||||**10**|**472**|
|Investment assets||||||||||**11**|**24,259**|
|Total fixed assets|||||||||||**25,082**|
|**Current assets**||||**Current assets**||||||||
|Debtors||||||||||**12**|**554**|
|Cash|at bank and in hand||||||||||**305**|
|**Total current assets**|||||||||||**859**|
|**Liabilities**||||||||||||
|**13**<br>Creditors: amounts falling due within|||||||||||**(289)**|
|one year|||||||||||~~a~~|
|**Net current assets**|||||||||||570|
|**Total assets less current liabilities**|||||||||||25,652|
|**Net assets**|||||||||||**25,652**|
|||||||||||||
|**Total net assets**|||||||||||**25,652**|
|**The funds of the Charity:**||||||||||||
|**Unrestricted funds**|||||||||||**25,200**|
|**Revaluation reserve**|||||||||||**367**|
|**Total unrestricted funds**||||||||||**15**|**25,567**|
|**Restricted income funds**||||||||||**15**|**85**|
|**Total charity funds**|||||||||||**25,652**|



34 



## Notes to the accounts for the year ended 31 December 2024 **Note** ~~—~~ **2024** 

|||||||||||||||||||||||||||||||||||||||||||||||||||||||**Note**<br>|**2024**<br>~~—~~|~~2023~~|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Cash||||flows||||||||||from operating activities:|||||||||||||||||||||||||||||||||||||||||**£000**<br>~~a~~|~~£000~~|
|Net|||cash||||||||used|||||||in||||operating activities||||||||||||||||||||||||||||||||**A**|**(3,124)**|(2,833)|
|Cash||||flows||||||||||from investing|||||||||||||||||||activities:||||||||||||||||||||||||
|Investment|||||||||||||income|||||||||||||||||||||||||||||||||||||||||**4**|**2**|4|
|Purchase||||||||||of||||intangible assets||||||||||||||||||||||||||||||||||||||||**9**|**(15)**|(80)|
|Purchase||||||||||of||||property,|||||||||||||plant and|||||||||equipment||||||||||||||||||**10**|**(14)**|(5)|
|Payments|||||||||||to||||pension|||||||||||fund||||||||||||||||||||||||||||**17**|**(94)**|(93)|
|Rebate|||||||reinvested|||||||||||||||||||||||||||||||||||||||||||||||**11a**|**0**|2|
|Disposal|||||||||ofinvestments||||investments|||||||||||||||||||||||||||||||||||||||||**11a**|**3,350**|2,670|
|Net|||cash||||||||provided by investing activities||||||||||||||||||||||||||||||||||||||||||||**3,229**|2,498|
|Change||||||||incash||||cashand|||||||and|andcash|||||cash|||||||equivalents inthe|||||||||||||||||||||||**105**<br>~~OO~~|~~(335),~~|
|reporting||||||||||||period|||||||||||||||||||||||||||||||||||||||||||||
|Cash||||and|||||||cash|||||||equivalents at|||||||||||||||||the||||||||beginning of||||||||||||**200**|517|
|the|||reporting||||||||||||||period||||||||||||||||||||||||||||||||||||||||
|**Cash and cash equivalents at the end of the**||||**Cash and cash equivalents at the end of the**|||||||**Cash and cash equivalents at the end of the**||||||||||||||||||||||||||||||||**Cash and cash equivalents at the end of the**||||**Cash and cash equivalents at the end of the**||**Cash and cash equivalents at the end of the**|||||**B**|**305**|200|
|reporting||||||||||||period|||||||||||||||||||||||||||||||||||||||||||||
|Notes to||||||||||the||||||cash|||||||flow statement||||||||||||||||||||||||||||||||**2024**<br>~~a~~|~~2023~~|
|**A. Reconciliation of net income/expenditure to**<br>net cash flowfrom operating activities||||||||||||||||||||||||||||||||||||||||||||||||||||**A. Reconciliation of net income/expenditure to**|||**£000**<br>~~—__~~|~~£000~~|
|Net|||(expenditure) /||||||||||||||||||||||income forthe|||||||||||||the|||||||reporting||||||||||**(1,478)**|(1,254)|
|period|||||||(as|||||perthe||||||the|||||statement||||||||||||offinancial||||financial|||||||||||activities)|||||||
|Adjustments|||||||||||||||for:||||||||||||||||||||||||||||||||||||||||||
|Investment|||||||||||||management||||||||||||||||||fees|||||||||||||||||||||||**11a**|**113**|89|
|Gain||||on||||investments||||||||||||||||||||||||||||||||||||||||||||||**11a**|**(1,197)**|(1,765)|
|Depreciation||||||||||||||||&||amortisation|||||||||||||||charges|||||||||||||||||||||**9&10**|**168**|177|
|Investment|||||||||||||income reinvested|||||||||||||||||||||||||||||||||||||||||**4**|**(688)**|(463)|
|(Increase)/Decrease||||||||||||||||||||||||in debtors||||||||||||||||||||||||||||||**12**|**(22)**|844|
|Decrease|||||||||||in|||creditors||||||||||||||||||||||||||||||||||||||||**13**|**(113)**|(180)|
|Net|||Pension||||||||||||scheme||||||||||interest|||||||||||||||||||||||||||||**17**|**3**|(5)|
|Net|||pension||||||||||||scheme||||||||||expenses|||||||||||||||||||||||||||||**17**|**196**|293|
|Pension|||||||||scheme||||||||||||Gain|||||||||||||||||||||||||||||||||**17**|**(106)**|(205)|
|Net cash|||||||||||used||||||||in|||operating||||||||||||activities|||||||||||||||||||||**(3,124)**|(2,833)|
|**B.  Analysis of cash and cash equivalents**||**B.  Analysis of cash and cash equivalents**|||||||||||||**B.  Analysis of cash and cash equivalents**|||**B.  Analysis of cash and cash equivalents**|||||||**B.  Analysis of cash and cash equivalents**||||||**B.  Analysis of cash and cash equivalents**||||**B.  Analysis of cash and cash equivalents**||||||||||||||||||||**2024**|2023|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||**£000**|£000|
|Cash||||in||||hand|||||||||||||||||||||||||||||||||||||||||||||||**305**|201|
|**Total cash and cash equivalents**|||||**Total cash and cash equivalents**||||||||**Total cash and cash equivalents**||||||**Total cash and cash equivalents**|**Total cash and cash equivalents**|||||||**Total cash and cash equivalents**||||||||||||||||||||||||||||**305**|201|



35 



Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2024
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 30June 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 Charitys 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 2026, 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
65.5% of the Charitys income in 2024. As reported in the financial review, contributions
in 2023 reflected a net 7% 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
porrfolio can be liquidated to meet short term requirements.
36

Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2024
After considering these factors, the Trustees have concluded that there are no material
uncertainties.
Income
Income is recognised in the accounts of the Charity when all of the following criteria are met:
Entitlement - control over the rights or other access to the economic benefit has passed
to the Charity.
Probability- it is more likely than not that the economic benefits associated with the
transaction or gift will flow to the Charity.
Measurement- the monetary value or amount of the income can be measured reliably
and the costs incurred for the transaction and the costs to complete the transaction can
be measured reliably.
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 Charitys 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.
Irrecoverable VAT is charged as a cost against the artivity for which the expenditure was incurred.
37

Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2024
Allocation of support costs
Support costs are those functions that assist the work of the Charity but do not dirertly
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 Charitys 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
improvements
3-4% p.a. on valuation and cost
Fixtures, fittings & office equipment
15% p.a. on cost
Other computer hardware & software
33113 % 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.
The amortisation rates used are as follows:
Software and website costs: 33,. % per annum
38

Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2024
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 Property
The Charity holds an investment propety 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 propety was revalued as of 31 st 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.
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
39

Charity for Civil Servants
Notes to the accounts for the year ended 31 December 2024
be presented separately after other net assets on the face of the balance sheet.
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
and estimated residuary legacies receivable. Further details, including assumptions used, are
disclosed in Note 16 (defined pension scheme), and under Income in the accounting policies
(residuary legacies).

|**2.**|**2.**||||||||||||||||||||**2024**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||||||**£000**|
||||||||||||||||||||||**2,981**|
||||||||||||||||||||||**169**|
||||||||||||||||||||||**201**|
||||||||||||||||||||||**127**|
||||||||||||||||||||||**103**|
||||||||||||||||||||||**3,581**|
|**3. Other**|||||||**Income**|||||||||||||||
||||||||||||||||||||||**2024**|
||||||||||||||||||||||**£000**|
||||||||||||||||||||||**-**|
||||||||||||||||||||||**214**|
||||||||||||||||||||||**84**|
||||||||||||||||||||||**298**|



|**4. Investment income**||**2024**|
|---|---|---|
|||**£000**|
|||**2**<br>**688**|
|||**690**|



41 



## **5. Expenditure 2024** 


**----- Start of picture text -----**<br>
Financial Support Direct  Support 2024<br> (Note 5a) Activities costs Total<br>(Note 5b)<br>£000 £000 £000 £000<br>Charitable activities<br>Total expenditure at 2024 1,529 3,217 2,605 7,351<br>Expenditure 2023<br>Financial Support Direct  Support 2023<br> (Note 4a) Activities costs Total<br>(Note 5b)<br>£000 £000 £000 £000<br>Charitable activities<br>Total expenditure at 2023 1,924 3,502 2,579 8,005<br>**----- End of picture text -----**<br>


42 





**----- Start of picture text -----**<br>
2024 2024 2024<br>Total<br>£000 £000 £000<br>105<br>7<br>198<br>44<br>7<br>213<br>289<br>531<br>121<br>10<br>4<br>-<br>-<br>1,504 25 1,529<br>**----- End of picture text -----**<br>


43 



## **(b) Analysis of support costs 2024** 


**----- Start of picture text -----**<br>
2024<br>Governance DB Pension Finance H.R IT & Systems Central Total<br>Scheme Analysis Services<br>£000 £000 £000 £000 £000 £000 £000 £000 £000<br>funds<br>Charitable<br>activities<br>In 2024 715 51 196 169 254 486 563 171 2,605<br>Analysis of support costs 2023<br>2023<br>Governance DB Pension Finance H.R IT & Systems Central Total<br>Scheme Analysis Services<br>£000 £000 £000 £000 £000 £000 £000 £000 £000<br>funds<br>Charitable<br>activities<br>In 2023 690 41 294 214 250 276 566 248 2,579<br>**----- End of picture text -----**<br>



**2024 £000 - 8 33 41** 

44 



## **6. Net Income/expenditure for the year** 


**2024 £000 168 27 6** 

## **7. Trustees and employees** 

|**Total**|**2024**<br>**£000**<br>**3,518**<br>**343**<br>**462**<br>**4,323**|
|---|---|





**----- Start of picture text -----**<br>
2024<br>22.57<br> 31.71<br>21.1<br>31.28 44.10 75.38<br>-<br>**----- End of picture text -----**<br>


45 



|~~Homebased~~|~~HQ~~||~~2023~~|
|---|---|---|---|
|~~Homebased~~|~~HQ~~|**2024**|~~2023~~|
|~~Homebased~~|~~HQ~~||~~2023~~|
|16.5|75|**24**|30|
|16|19|**35**|38|
|2.5|21|**23.5**|24|
|**35**|**47.5**|**82.5**|**-**|
|40|52|**-**|92|



|**2024**|**2023**|
|---|---|
|4|2|
|4|-|
|-|5|
|2|-|
|-|1|
|**£66,173**|£84,426|



46 




**----- Start of picture text -----**<br>
Position Basic  2024 Ers ni Total 2023 Total<br>Salary Employers  remuneration remuneration<br>Pension<br>conts.<br>Total £129,285 £695 £31,165 £14,325 £175,470<br>**----- End of picture text -----**<br>


## **8. Volunteers** 


|**Cost or valuation**<br>**Balance at 31.12.2024**<br>**Accumulated amortization**<br>**Balance at 31.12.2024**<br>**Net book value at 31.12.2024**|Website software<br>**£000**<br>**921**<br>**570**<br>**351**|Website software<br>**£000**<br>**921**<br>**570**<br>**351**|Website software<br>**£000**<br>**921**<br>**570**<br>**351**|
|---|---|---|---|
|||||
||||**921**|
|||||
||||**570**|
||||**351**|



47 





**----- Start of picture text -----**<br>
Freehold  Fixtures, Total<br>property<br>equipment<br>Cost or valuation £000 £000 £000<br>940 339 1,279<br>- 14 14<br>-<br>(85) (85)<br>Balance at 31.12.2024 940 268 1,208<br>Accumulated depreciation<br>805<br>15<br>(84)<br>Balance at 31.12.2024 485 251 736<br>Net book value at 31.12.2024       455 17 472<br>11. Fixed asset investments<br>(a) Investment portfolio 2024<br>Movements in the investment portfolio in the year £000<br>Market value at 1 January  25,270<br>597<br>91<br>(3,350)<br>(113)<br>1,197<br>Market value at 31 December  23,692<br>**----- End of picture text -----**<br>



48 



|LongTerm|LongTerm|LongTerm|LongTerm|LongTerm|LongTerm|LongTerm|LongTerm|Fund|Fund|Fund|Fund|Fund|Fund|Fund|Fund||||||||||£21,078,439|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**Total held with Columbia Threadneedle**||||||||**Total held with Columbia Threadneedle**||||||||**Total held with Columbia Threadneedle**|||||||||**£23,692,378**|
|The||||Shor~~t-~~Term fund is mainly comprised offixed income and cash to mitigate any shor~~t-~~term||||||||||||||||||||||
|market|||||||volatility. The Long-term fund's assetweighting as at 31 December 2024 is analysed|||||||||||||||||||
|below:||||||||||||||||||||||||||
||||||||||||||||||||||||||Weighting|
||||||||||||||||||||||||||**(%)**|
|LongTerm|||||Term|||Fund||||||||||||||||||
|Fixed|||||Income||||||||||||||||||||45.6|
|Equities|||||||||||||||||||||||||51.1|
|Derivatives|||||||||||||||||||||||||-|
|Cash|||||||||||||||||||||||||3.3|
|**Total**|||||||||||||||||||||||||**100.0**|
|(b)|||Investment building|||||||||||||||||||||||
||||||||||||||||||||||||||**Total**|
||||||||||||||||||||||||||**£000**|
|Opening balance|||||||||||||||||||||||||**567**|
|Closing|Closing|Closing|Closing|Closing|Closing|Closing|Closingbalance|balance|balance|balance|balance||||||||||||||**567**|



## **(c) Investment in subsidiary** 

49 




**----- Start of picture text -----**<br>
12. Debtors 2024<br>£000<br>32<br>-<br>158<br>101<br>88<br>172<br>3<br>-<br>554<br>2024 2023<br>£000 £000<br>26 58<br>61 76<br>13 13<br>- 61<br>76 94<br>113 100<br>289 402<br>2024<br>£000<br>58<br>1,529<br>(1,574)<br>13<br>26<br>**----- End of picture text -----**<br>


50 



|~~14.~~|~~14.Operating~~|~~Operating~~|~~Operating~~|~~OperatingLeases~~|~~Leases- equipment~~|~~equipment~~|~~equipment~~|~~equipment~~|~~equipment~~|~~equipment~~|**2024**|~~2023~~|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|~~14.~~|~~14. Operating~~|~~Operating~~|~~Operating~~|~~Operating Leases~~|~~Leases - equipment~~|~~equipment~~|~~equipment~~|~~equipment~~|~~equipment~~|~~equipment~~||~~2023~~|
||||||||||||**£000**<br>~~—~~|~~£000~~|
|Equipment||||Rentals charged||in the year|||||**2**|7|
||||||||||||**2024**<br>~~—~~|~~2023~~|
||||||||||||**£000**<br>~~—~~|~~£000~~|
|**The total future minimum lease payments under**|||||||**The total future minimum lease payments under**||||||
|operating leases|||||are due as|||follows:|||||
|-|in less than one||||year||||||**-**|4|
|~~-~~in|inmore|more|morethan|thanone|oneyearand|and|less|less|less|thanfive|**-**<br>fiveyears|-|



## **15. Funds** 

## **Unrestricted funds** 

## **Restricted funds** 

## **Customs & Excise Family Fund** 

## **Fenton Trust** 

## **Civil Aviation Authority Fund** 

51 



## **The Black Bequest Fund** 


## **Dementia Fund** 



## **Analysis of movements** 


**----- Start of picture text -----**<br>
Restricted  Income Transfers  Expenditure<br>Funds Balance between  Balance<br>Funds<br>£000 £000  £000 £000 £000<br>Balance at  87 2 - (4) 85<br>31 December<br>2024<br>**----- End of picture text -----**<br>


52 



## **Analysis of net assets by fund** 


**----- Start of picture text -----**<br>
Investment  Net Current  Total<br>assets assets Pension<br>scheme<br>£000 £000  £000 £000 £000<br>Unrestricted  25,567<br>funds<br>Restricted  85<br>funds<br>Balance at  25,652<br>31 December<br>2024<br>Analysis of movements for the Year Ended 31 December 2023<br>Restricted  Income Transfers  Expenditure<br>Funds Balance between Funds Balance<br>£000 £000  £000 £000 £000<br>Balance at  45 45 - (3) 87<br>31 December<br>2023<br>**----- End of picture text -----**<br>


53 



Analysis of movements for the Year Ended 31 December 2023 

|**Restricted**||Intangible|Intangible|Intangible|Intangible|**Invest-**|**Net Current**|Defined|Defined|**Total**|
|---|---|---|---|---|---|---|---|---|---|---|
|**Funds**||&tangible||||**ment**|**assets**|**Pension**|||
||fixed assets|||||**assets**||**scheme**|||
||||**£000**|||**£000**|**£000**|**£000**||**£000**|
|**Unrestricted**||||962||25,837|245|||27,044|
|**funds**|||||||||||
|**Restricted**|||||||87|||87|
|**funds**|||||||||||
|**Balance at**||||962||25,837|332||-|27,131|
|**31 December**|||||||||||
|**2023**|||||||||||



## **16. Taxation** 

## **17. Pension** 

54 




|**Present value of scheme liabilities**<br>**surplus in Scheme**||2024<br>£000||2023<br>£000|
|---|---|---|---|---|
||(13,251)||(14,386)||
||**1,290**||1,020||




|**Scheme liabilities at 31 December**||2024<br>£000||2023<br>£000|
|---|---|---|---|---|
||||||
||**13,251**||**14,386**||



|**Fair value of scheme assets at 1 January**<br>**Fair value of scheme assets at 31 December**||**2024**<br>**£000**|**2023**<br>**£000**<br>**15,406**|**2023**<br>**£000**|
|---|---|---|---|---|
||||||
||**14,541**||||



55 



## **Amounts included within Statement of Financial Activities** 


||**2024**<br>**£000**||**2023**<br>**£000**|
|---|---|---|---|
|||||
||**(93)**||**(504)**|



## **Fair value of scheme assets** 

|**Total value of assets**|**2024**<br>**£000**<br>**14,542**|**2024**|**%**|**%**||**2023**<br>**£000**|**2023**<br>**£000**|**%**|
|---|---|---|---|---|---|---|---|---|
|||**£000**|||||||
||||||||||
||||**100**||**15,406**|||**100**|



56 



**Assumptions 2024 2023** 


|**The amounts for the current and**|**previous periods**<br>**2024**<br>**£000**<br>**14,541**<br>**(13,251)**<br>**1,290**<br>**(1,290)**<br>**(22)**<br>**1,099**<br>**(855)**|**previous periods**<br>**2024**<br>**£000**<br>**14,541**<br>**(13,251)**<br>**1,290**<br>**(1,290)**<br>**(22)**<br>**1,099**<br>**(855)**|**are as follows:**<br>2023<br>2022<br>£000<br>£000|**are as follows:**<br>2023<br>2022<br>£000<br>£000|**are as follows:**<br>2023<br>2022<br>£000<br>£000||2021<br>£000||2020<br>£000|
|---|---|---|---|---|---|---|---|---|---|
||**1,290**|||||||||
||**(1,290)**<br>**(22)**<br>**1,099**<br>**(855)**|||||||||



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## **18. Related parties** 

## **19. Statement of Financial Activities for the Year Ended 31 December 2023** 


**----- Start of picture text -----**<br>
Unre- Restrict- 2023<br>stricted  ed Funds Total<br>Funds Funds<br>Income from £000 £000 £000<br>3,798<br>Other income 151<br>Investment Income 467<br>Total income 4,416<br>Expenditure on<br>1,225<br>89<br>1,314<br>Charitable activities<br>6,691<br>Total charitable expenditure 6,691<br>Total expenditure 8,005<br>(3,589)<br>1,765<br>365<br>204<br>Net movement in funds for the year (1,255)<br>Reconciliation of funds<br>28,386<br>Funds carried forward at 31 December 2023 27,131<br>**----- End of picture text -----**<br>


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-THAivk:
THANK YOU
The Charity for Civil Servants is not able to achieve the impact as demonstrated in this report,
without the generous support from our donors, fundraisers and partners. Your commitment
in backing the Charity is vital and underpins the work we deliver help to thousands of civil
servants. For this, the Charity extends our upmost gratitude to each and every one of you.
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