2024-03-31-accounts

REGisfERED CHARtrY NUMBER: 1151036 Report of the Trustees and Unaudited Financial Ststements for the Year Ended 31st Mareh 2024 for Tenbury NILS Scheme Dyke Ruscoe & Hayes Ltd Charte￿d certifi￿ Accountsnts 110 Corve Street Ludlow SHROPSHtRE SY8 IDJ

Tenbury Scheme Contents of the Financial Statements for the Year Ended 31st March 2024 Page Report of the Trustees I to 5 Independent Examiner's Report Statement of Fln*nci81 Activities B4lan¢e Sheet Notes to the FinAncial Statements 9 to 14 Dethiied Ststement of Financial Activities 15

Tenbury MLS Scheme Report of the Trustees for the Year Ended 31st Mar¢b 2024 The trustees present their re￿rt with the fuwicial statements of the clwity for the year ended 31st March 2024. The trustees have adopt¢d the provisions of Accounting and Reporting by Clwities: Ststement of Recommended Pra¢ti¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJEcfivES AND AcrivrriES Objectives and aims Tho Trustees ¢onfim) that they have referred to the guidance contsined in thc Charity Commission's general guidance on public benefit when reviewing the Charitys aims ar￿ objeclive5 and in planning future activities and settin8 the grdnt-making p)licy forthe y&qr. The Charity ¢arri¢s out these objectives (&$ set out in the constitutÉon by providing one off grants up to £500.00 to people who are unable to fimd essential Items for daily living, emergency removals and travel. Grdnts above £500.00 can be made * the discretion of the Board. The Trustees are pleased that the achievements and performance of the Charity demonstrate the continuing delivery of public benefit. Publie benefit The tnL8tees consider the charity.to be a public benefit entity. FINANCIAL REVIEW Prineipal funding sources The 2023 - 2024 year commenced with the Charity in g￿d financial health with funding from regular partners. Funds continued to be made available to charities and NILS was success￿1 in a number of application5 for these, allowing us to continue lo provide grdnt-based suP￿rt to those in need of life's essentials. The greatest challenge, however, continues to be securing funds to SUp￿rt the charity's nllming costs which, along with th¢ number of Clients to whom the team has provided support have continued to grow. The funds for the work of the charity are derived from Grants from L￿81 Authorities, without whose generosity we rA)uld not continue. Investment policy and objectives The Trustees have the power to dep)sit or invest funds in any Lawful manner as they shall in their absolute discretion think fit and having regard io the suitability of the investment , the need for diversification. Advice is sought by the Trustees from Pool House professional advisors Limited Reserves policy The reserves al the yearend wmprised the capital fillKI arnl income fund. The Trustees have used the annual net incorne for grdnt-making and related supwrt and governance costs. The Trustees have in the past deternined that the capital fijnd is held in order that the Charity is able to 8enerate income for its future charitable expenditure. However, due to the current period of high inflation where many people are strJ8gling to survive within their cur￿nt income the (apitsi fund was used in 2024 to meet the running costs of the Tnjsts objectives and activities. It is expecta that a fiwther use of legacy funding will be used in the current fjnancial Going CODcern We expect the demand for support from NtLS to ￿maIn high and will continue to do whatever we can to support those worst affthl.

Tenbury IYILS Stheme Report of the Trustses for the Year Ended 31st March 2024 FiJTURE PLANS There is no obvious end in sight of the f￿ancial crisis and the demands on the Charity are expth to remain high for the foreseeable future. The Charity will continue to be an effective and responsible charity. The Cl]arity will continue to ensu￿ that funding is being used effectively. Investments shall CA)ntinue to be matwd in line with the Charity's ¢haT4table objects srRucfuRE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documenL a deed of trust and constitut&8 an unin¢orporated charity. The Charity is an unincorpornted charity established by deed of tsust dated 28 Febnwy 2013 (the ,Tn￿t Deed" ). Recruitment and appointment of new try$t¢es The Trustees serving during the year and sin¢e the year end were as follows: David Stevens (Chair). Mark Inglis and Sue Hatrison-stonc The TNst Deed allows ¢ontinuin8 elective Tn￿te¢S to appoint new elective Truslees. There are no minimum or maximum temis of service OrganisAtional strueture During the year, the Charity was administer￿ on a daily basis by a small, dolicated tsam headed up by the Charity Manager, assisted by a Tnjst Administrator. The Charity finances were administered by Finance Manager, who reports directly to the ttwtees. The Trustees have met fomially with the Charity Manager and Finance manager on six occasions during the year. The chair of Ttustees also maintsin regular contact with the Charity staff. Decision making At meetings, decisions wtll be made by a majority of the In￿le¢S present and voting on the quesiion. The person chairing the meetin8 shall have a ¢astin8 vole. Key mAnagement remuner2tion The Trustees consider they. together with the Charity Manager and Finance Manager comprise the key management personnel of the Charity who are in charge of directing and ¢ontrollin& running and operdling the Charity on a daY-t￿daY basis. All Trustees give theirtime freety and no Trustee r￿e1Ved remunerntion in the year. The pay of the stsff is reviewed annually and nornially increased in ac(x>rdance with infiation dats each year. Page 2

Tenbury NILS Scheme Report of the TThstees for the Year Ended 31st Mareh 2024 STRUCTURE, GOVERNANCE AND MANAGEMEiYr Grant making policy The Trusfres ¢onfm that they have refenrd to the guidance contsined in the Charity Commission's general guidance on public benefil when reviewing the Charity's ain￿ and objective5 and in planning future ¥£tivities and setting the grant-making plicy forthe year. The objective of the Tenbury NILS Scheme is to provide no interest loans and grant based support to local people in acute financial need in Worcestershir< Herefordshire and Shropshire. In ￿cent years the focus hLs been rightly, on direct grants to help individua15 in resEx)nse firstly to Covid and secondly to the cost of living crisis. Local funders have been keen to work with NILS to d1￿ctlY help local pg)ple in crisis and the operations of the Charity have evolved to meet the needs of funders and clients Essential items to a maximum value of £500.(K) (e.g. white goods, household emergency removals, travel passes tolfrom further edurAtion and WOTk) aff purchased on behalf of the client by NILS from local businesses where possible. Clients are typically in receipt of benefits or on a low income and their eligibility is assessed in accordance with criteria set by the trustees and grant 8ivin8 partners, and 8rants and loans are not given in c&8h forn) and cannot be used for any other putpose. Related parties None of the Tn￿tee5 receive remuneration or other benefrt from their work with the Charity. None of the Trustees have any beneficial interest in any servic£s supplid to th¢ Ch8rity. Risk management The Trustees have a risk mana8ernent strategy. including a regularly updated Risk Assessment which is fornially approved annually by the Trustees and which ¢omprises.' - a regular review of the risks the Charity may face. - the establislunent of systems and procedures to mitigate those Tisks identifioj in the plan: and the implem¢ntstion of procedures designed to minimise any ￿tential impact on the Charity should those risks materialise. Particular attention has focused on risks in respert of in(x)me. wt-making prnttsse4 people and technology. A key element in the management of fin8nciaI risk is its ￿gUlar review by the Ttustee5. The Trustees have given considcrntion to the main risks to which the Charity is exposed 8nd are satisfied that systems and ptDcedures are in place to manage these risks. Page 3

Tenbury NILS Seheme Report of the Truste for the Year Ended 31st March 2024 STRucfuRE, GOVERNANCE AND MANAGEMEiYr TRUSTEES, RESPONSIBILITES STATEMEKr The Trustees are responsible for preparing the Report of the Trnstees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genernlly Accepted Accounting Praclice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affaits of the Charity and of the incoming resources and application of tEsources of the ch￿lty for that Peri￿. tn preparing these financial statement4 the Trustees are Tcquired to: select suitable accounting policics and then apply them consistently. observe the meihods and prin¢iples in the Charities Ststement of Recommended Pra¢ti¢e 2019 (FRS 102); _ m8ke judgements and cstimatcs that are reL8onable and prudent. state whether applicable accounting standards have been follow& subject to any material departures disclosed and explained in the financial statsments. and prepatt the fmancial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operntion. The Trustees resp)nsible for keeping proper accounting r￿ordS that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the fuwi¢ial stalements Comply with the CEwities Act 2011, and where relevanl the Charities Act 2022, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for saftguarding the assets of the Ch￿lty and hcncc for taking reasonable 5tep5 for the prevention and detcrfion of frdud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Charity and financial infomiation included on the Charity's website. Legislation in the Uniied Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. REFERENCE AND ADMINISTIL4TIVE DETAILS Registered Charity number 1151036 Princip21 Address clo dhjh LLP 81 Terne Street Tenbury Wells wor￿sterSh1re WR15 8AE Trustees Rev M Inglis S Harrison-stone D Stevens Mr G Timlin (appointed 13.6.24) Independent Examiner Mr S C Davi¢s Dyke Ruscoe & Hayes Ltd Chartered Certified Accountants 110 Corve Street Ludlow SHROPSHtRE SY8 IDJ

Tenbury MLS Scheme Report of the Trngte for the Year Ended 31st March 2024 REFERENCE AND ADMINIStRATtVE DETAILS Advisers Investment Advisorfs: Pool House Dam Street Lichfield WS13 6AA Investment Custodians: AJ Bell 4 Exchange Quays Manchester M5 3EE OTHER OFFICIALS Charity manager- Heather Baylis Finance mana8er- Le51ey Jenkins Website - httpsJ/nils.ory.uk Approved by order of the board of trustees on 28th November 2024 and signed on its behalf by: D Stevens- Trustee

Independent Examiner's Report to the Tn￿teLl of Tenbury NILS Scheme Independent examiner's report to the tnLsteos of Tenbury NEtS Stheme I report to the charity trustees on my examination of the accounts of Tenbury NILS Scheme (the Tn￿t) for the year ended 3 1st March 2024. Responsibilitie5 4nd basis of report As the charity trustees of the Ttust you are resw>nsible for the preparntion of the accounts in accordance with the requI￿lnentS of the Charities Act 2011 Cthe Act). I report in reSp￿t of my examination of the Tnjsvs accAiunts ¢arricd out under Section 145 of the Act and in canying out my ¢xamination I have followed ail applicable Directions given by the Charity Commission under Seclion 145{5Xb} of the Ad. Independent examiner'$ ststement I have completed my examination. l ¢onfirn] that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the TnLSt as required by Section 130 of the ACL or the accounts do nol accord with those ffcords. or the accounts do not comply with the applicable requirements concerning the forni and Lxintent of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter o)tLsid¢￿d as part of an independent examination. I have no concerns and have rA)m¢ across no other matteTS in connection with the examination to which Attention should be drn￿ in this report in ol¥Jer to enable a proper understanding of the accounts to be reached. Mr S C Davies Dyke Rugcoe & Hayes Ltd Chartered Certified Accountsnts 110 Corv¢ Street Ludlow SHROPSHtRE SY8 IDJ Page 6

Tertbury NIIS Seheme ststement of Finaneial Activities for the Year Ended 31st March 2024 2024 Total fimds 2023 Total funds Unrestrtcted Restticted fi]nd funds INCOME AND ENDOWMENfs FROM Donations and legacies 43.080 138,300 181 J80 125,521 EXPENDITURE ON Ch4Titsble 4rtivitles Outreach Project Other restricted adivities Other unrestricted activitie5 2,433 133,230 2,433 133230 3.477 1,406 111.818 5,810 3,477 Other 64.026 64,026 66.162 Totsl 67.503 135,663 203,166 185.196 Net gain￿(lOSses) on investments 9.583 9.583 (5,022) NET INCOMEIIEXPENDITURE) (14,840) 2,637 (12203) (64,697) RECONCILIATION OF FUNDS Total funds brought forward 181,646 28,154 209,8¢XI 274,497 T(yfAL FUNDS CARIUED FORWARD 166,806 30.791 197.597 209,800 The notes fonn part of th&se finan¢iaI staternents Page 7

Tenbury NILS Scheme Balance Sheet 31st March 2024 2024 Total fim(L 2023 Total funds Unrestricted Restricted funds Noles FIXED ASSETS Tangible assets Investments 1,030 130.591 1.030 130.591 2,128 195,008 131,621 131,621 197,136 CURRENT ASSETS Debtors Prepayments and accrued income Cash a¢ bank and in hand 41 631 38.165 41 631 69.503 119 580 21,511 31,338 38.837 31,338 70,175 22.210 CREDITORS Amounts falling due within onc year (532) (547) (1,079) (6,846) NET CURRELYT ASSETS 38.305 30,791 69,096 15.364 TOTAL ASSETS LESS CURRENT LIABILITIES 169,926 30,791 200,717 212,500 ACCRUALS AND DFFERRED INCOME (3.120) (3,120) (2,700) NET ASSETS 166.806 30,791 197,597 209,800 FUNDS Unrestncted fijnds Resthcted funds 10 166.806 30,791 181,646 28.154 TOTAL FUNDS 197,597 209,800 The financial btatements were approved by the Board of Trustees and authorised for issue on 28th November 2024 and were signed on its b¢haif by.. S HaThison-Stone- Tn￿tre The notes fonn part of these financial statements Page 8

Tenbury NIIS Seheme Notes to the Financial Statements for the Year Ended31st March 2024 AcCO￿[NG POLICIES Basis of prep4ring the finxneial stakments The financial statements of the charity. which is a public benefit entity under FRS 101 bave ken prepared in a¢¢ordance with the Charities SORP (FRS 102) 'A¢counting and Reporting by Charities". Statement of Recommended Practice applicable to ¢haritie5 preparing their acc¢)unts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at matket value. as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Artivities once the charity has entitlement to the fjJnds. il is probable that the in¢ome will be ff¢eived and the amount can be rneasurcd reliably. Expenditure Liabilities are recO￿lS¢d as expenditure as soon &8 there is a legal or wnstnjctive obligthon committing the charity to that expenditure, it is proible that a transftr of economic benefits will be required in settlement and the amount of the obligation can bc measured reliably. Expenditure is a¢¢ounted for on an a¢cNals b&sis and h&8 been classified under headings that aggregate all cnst ￿lated to the category. Ivhere costs cannot be directly attributed to particular headings they have been allocated to activities on 8 b8sis conststent with the use of T#nglbl¢ fixed ss¢ts Depreciation is provided at the followin8 annual rates in order to write off each asset over its estimated useful Fixtures and fittings Computer equipment Straight line over 3 yeats Straight line over 3 years Taxation The Charity is exempt from tsx on its charitsble activities. Fund accounting Unrestricted funds can k used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds Can only be used for particular rtstricted puryx)ses within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for parti¢ul8r ffStri¢ted purFx)ses. Further explanation of the nature and purpose of each fund is included in the notes to the finan¢ia] statements. Pension costs otber p)st-retirement benefits The charity operates a defmed contribution pertsion scheme. Contributions payable to the ¢h8rity'S pension scheme are charged to the Statement of Financial Activities in the period to which they relate. continued...

Tenbury NIIS Seheme Notss to the FinAneial Sta¢ements- tontinued for the Ye&r Ended 31st March 2024 TRUSTEES, REMUNERATION AND BENEFITS There wetE no trustccs, remunerdtion or other benefits for the year ended 3 1st March 2024 nor for the year ended 31st March 2023. Trustee5' expen$ There were no trustees, re-imbursements paid this year. STAFF COSTS The average monthly numEerof employees during the year was as follows: 2024 2023 Administration No employees received emoluments in excess of £60.(M)O. COMPARATtVES FOR THE STATEME￿ OF FINANCIAL AcfiviTIES Unrestricted fund Restricted fjjnds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 25,096 100,425 125,521 EXPENDITURE ON Charitsble activities Outreach Proje¢l Other restricted activities Other unrestricled activities 1,406 111,818 1.406 111,818 5,810 5,810 Other 65.412 750 66,162 TotAI 71222 113,974 185,196 Net gainsl(losses) on investments (5,022) (5,022) NET INCOMEI(EXPENDITURE) {51,148) 4,675 (13.549) (4,675) (64.697) Transfers betweell funds Net movement in funds {46,473) (18,224) (64,697) RECONCILIATION OF FUNDS Totsl funds brought forward 228.119 46,378 274,497 TOTAL FUNDS CARRtED FORWARD 181.646 28.154 209,800 Page io continued...

Tenbury IYIIS Scheme Notes to the Financial Statements- continued for the YeAr Ended 31st March 2024 TANGIBLE FIXED ￿￿ETs Computer equipment fittings Totals cosr At 1st April 2023 Disposals 877 (124) 1432 (548) 3,309 (672) At 3 1st March 2024 753 1,884 2,637 DEPRECIATION Ai 1st April 2023 Charge for year Eliminated on disposal 877 304 1,098 {548) 1.181 1,098 (672) (124) At 3 1st March 2024 753 854 1,607 NET BOOK VALUE Ai 3 1st March 2024 1,030 1,030 At 3 1st March 2023 2,128 2,128 FIXED A&SET INv￿mENTS Listed investments MARKET VALUE At Ist April 2023 Additions Disposals 195,008 9,583 (74,000) At 3 1st March 2024 130.591 NET BOOK VALUE At 31st March 2024 130.591 At 3 1st March 2023 195.008 There were no investmenl ass&5 outside the UK. The additions of £9J83 represent the increase in value over the year, net of advisor and management charges applie Pagell continued...

Tenbllry NILS Scheme Notes to the Financial Statements- continued for the Year Ended 31$t March 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONK YEAR 2024 2023 Loans r¢¢eivable Other debtors 119 41 41 119 The remaining loaLs ffceivable have been written off in the year. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors 6.214 632 635 1.079 6.846 ACCRUALS AND DEFERRED INCOME 2024 2023 A¢¢n￿lS and defe￿ed income 3,120 2,700 io. MOVEMENT IN FUNDS Net movement in ￿ndS At 31.3.24 At 1.4.23 Unrestrlcted fiinds General fund 181,646 (14,840) 166,806 Restricted fun(b Outreach Project Other restrictoj funds 4,622 23.532 (2,432) 5.069 2,190 28.601 28,154 2.637 30,791 TOTAL FUNDS 209.800 (12,203) 197,597 Net movement in fvnds, included in the aix)ve are as follows: Incoming resources ReyK)urces expended Gatns and losses Movement in fl￿dS Unrestricted funds General fund 43,080 (67,503) 9,583 (14,840) Restricted fund5 Outreach Project Other restrith¢d funds (2.432) (133231) (2.432) 5.069 138JOO 138,300 (135,663) 2,637 TOTAL FUNDS 181,380 (203,166) 9,583 (12.203) Page l2 continued...

Tenbury NIIS Scheme Notes to the Financial Statements- continued for the Year Ended 31st March 2024 io. MOVEME￿ IN FUNDS- eontinued Comparatives for movement in ￿ndS Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unr&strieted funds General fund 228.119 (51.148) 4,675 181,646 Restricted funds Outr¢a¢h Project Oiher restricted funds Illegal Money Lending Team 6,028 39.6 750 (1,406) (11.393) (750) 4.622 23,532 (4,675) 46J78 (13,549) (4,675) 28,154 TOTAL FUNDS 274.497 (64,697) 209,800 Comparative net movement in fimds, included in the aix)ve are as follows: Incoming resources Resources ¢X￿nded Gains and losses Movement in funds Unrestricted funds General fund 25,096 (71.222) (5.022) (51,148) Restricted funds Outreach Pn)ject Other restricted filllds Illegal Mon¢y Lending T¢am {1.406) (111,818) (750) (1,406) (11.393) (750) 100.425 100,425 (113,974) (13,549) TOTAL FUNDS 125.521 {185,196) (5.022) (64.697) A ¢urffnt year12 months and prior ycar 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 228,119 (65.988) 4,675 166,806 Restrieted funds Outreach Project Other restricted funds Illegal Money Lending T&gtn 6,028 39,6C 750 (3.838) {6J24) {750) 2.190 28,601 (4,675) 46,378 {10.912) (4,675) 30,791 TOTAL FUNDS 274,497 (76,9)0) 197,597 Page 13 ontinued...

Tenbury MLS Scheme Notes to the Financial Statements- continued for the Year Ended 31st M2reh 2024 io. MOVEMENf IN FUNDS- continued A GUTrcnt year 12 months and prior year 12 months ClXDbinryl net movement in fimds. included in the above are as follows: tncoming Re￿urCeS expended Gains and losses Movement in fjjnds Unrostricted funds General fund 68,176 (138,725) 4,561 {65,988) Restricted funds Outreach Project Other re5trirted fiu)ds Illeg￿ Money Lending Team (3.838) (245,049) (750) (3.838) (6,324) (750) 238,725 238,725 (249.637) (10.912) TOTAL FUNDS 3(J6,901 (388J62) 4,561 (76,900) During the year various grdnts were received with restrirtions attached. The b8Jan¢¢s stated below are all shown under the'other restricted funds, fund: Blfwd locome Expenditure Transfer Ba14nce Individual Sour¢e National Funding Sourr Local Funding Sourc 3,137 1,262 1,875 11,714 175,000 E31,367 37,000 18,347 8.681 300 602 ,379 Total 23532 175JOO 133,231 37.IKIO 28.601 The restricted fund also includes a balance of £2.190 regarding the Outreach Project. This was set up on 2017118 and enables NILS to reach out to rural communities in Shropshire, Herefordshire and wOr￿terShIre, ii. RELATED PARTY DISCLOSURES There were no related party transartions for the year ended 31st M8￿h 2024. 12. GOING CONCERN The trustees consider that there are no material ￿nce￿IntieS aix)ut the charity's ability to continue and the financial statements have therefore been prepared on the going wncern basis. Page 14

Tenbury NILS Scheme Detsiied Statement of Financial Activits for the Year Endeij 31st Mar¢h 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons and legacies thnations Grants 6,380 175,000 1,153 124,368 181,380 125,521 Totsl incoming resources 181,380 125,521 EXPENDITURE Charitable Activities Purchaseslgrdnts given 136.708 117,628 Support eosts Humln ￿Our¢¢8 Wages Pensions Sundries HR Support 20,120 277 6,525 94 866 1,694 21,263 8,403 Other Rent tnsurance Telephone Postage and stationery Sundries Professional fees Prior year defaulted loans Fixlures and fittings depreciation Computer equipment depreciation 119 801 751 484 3,123 50.116 952 1,140 860 3.350 33.488 119 472 304 1.098 41,007 56,170 Governance costs Accounts and independent examine￿ frc 4,188 2,995 Total resources expended 203.166 185,196 Net expenditure (21,786) (59.675) This page does noi fonn part of the statutory financial statements Page 15