REGisfERED CHARrrY NUMBER: 1151036 Report of the Trustees and Unaudited Finaneial Statements for the Yegr Ended 31 March 2025 Tenbury NIiS Scheme Streets Dyke Ruscoe Ltd 110 Corye Street Ludlow SHROPSHll SY8 IDJ
Tenbury IYILS Scheme Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees I to 4 Independent Examiner's Report Statement of Financial Aetivities BAIAnce Sheet Notes to the FinaDciAI StgtemeDts to 13 Detailed Statement of Flnand*l Aetivitieg 14
Tenbury NILS Scheme Report of the Trustees for the Year Ended 31 March 2025 The trnstees present their report with the financial statements of the cbarity for the year ended 31 Marth 2025. The trustees have adopted the provisions of A(xounting and Reporting by Chariti¢s: Statement of Recommended Prnctice applicable to Ch7t]eS preparing iheir accounts in accordance with the Financial Reporting Standard appli¢able in the UK atkd Republic of treland (FRS 102) (effective l January 2019). ORTECTIVES AND Ac[IvlEs Objectives and aims The Trustees have considered the Charity Commission's public benefft guidan Wh reviewing aims. planning activities. and setting grdnt FK)licie5. The Charity provides oneaoff of up to £5 for essential livin8 needs. emergency removal4 and travel. grants over £500 8re available at the Boar&s discretion. The Trustees are pleased that the achievements and perforniance of the Charity demonstrth the continuing delivery of public benefiL Publ1¢ benefit The trustees consider the charity to be a public benefit entity. FINANCtAL REVIEW Principal funding sources The 2024 - 2025 year commenced with the Charity in good fllwicial health with funding from regular partneTS. Charitsble fijnding continued to be secured. and NtLS was successful in obtaining several grants. This enabled the ongotng provision of essential support to individuals in need. The greatest challenge, however, continues to be securing funds to support the charity's running costs which, along with the number of clients to whom the *am has provided suppo¢ have continued to grow. The charity's work is funded by grants from Lwal Authoritie& whose sUprt is essential for our operations. Investment policy and objectives The Trustees have the power to dewsit or invest funds in any Law1 manner as they shall in their absolute discretion think fit and having regard to the suitability of the investment and the need for diversification. Advice is sought by the Tnte¢S from Pi)ol House Professional Advisor5 Lirnited Reserves poliey The reserves at the year end comprised the capital fund and income fund. The Trnstees have used the annual net income for grant-making and related suPrt and governance rAtsts. The Trustees previously maintained the capital fund to generate income for fijture charitsble activities. In 2024, however, high inflation led to its use for operating cost& Additional legacy funds are expected to be used this fman¢ial yvdr. Going concern We expect the demand for support from NILS to remain high and will continue to do whatever we can to support thos¢ worst affected. FUTURE PLANS With the financial crisis ongoing and high demand expected to persis¢ the Charity rem8ins committed to effective operdtions, responsible funding atlo¢3tion. and investment management aligned with its charitable objectives. STRucfuRE, GOVERNANCE AND MANAGEMENT GoverDing document The charity is controued by its governing thKumenL a deed of trust and nStItuteS an unincorporated charity. The Charity is an unin¢orporated ¢harity established by deed of trust dated 28 February 2013 (the"Trust Deed" ). Page I
Tenbury MLS Scheme Report of the Trustees for th¢ Ye*r Ended 31 March 2025 STRucfuRE. GOVERNANCE AND MANAGEME[ Recrnitment and appointment of new truste The TtUStee5 serving during the year and Sin the year end were as follows: David Stevens (Chair), Mark Inglls, Sue HalSon-stone and Gary Timlin. The Trust Deed allows continuing elective Tnths to aPint new elective Tnte¢s. Theff are no minimum or maximum terms of service. Mr Gary Timlin wds appointed as a Trustee on 13th June 2024. Organisational strueture During the year. the Charity wa5 administered on a daily b&8is by a small, diCated team headed up by the Chartty Manager, assisted by a Trust Administrator. The Charity fmances were administettd by Finance Manager, who repotts direcdy to the trustees. The Trustees have met fomiatly with the Charity Manager and Finance Manager on five ocwions duTing the year. The chair of Tntstees also maintsin regular contact with the Charity staff. Decision mAking At meetings. decisions will be made by a majority of the trSleeS present and Voting on the question. The person chairing the meeting shall have a ¢asting v(rte. Key man4gement remunerntioD The Trustees consider they. tygether with the Charity Manager and Finance Manager comprise the key management personnel of the Charity who are in charge of diffcting and ¢ontrolling, running and operating the Charity on a day.to4ay b&8is. All Trustees give their time freely and no Tntee received remuneration in the year. The pay of the stsff is reviewed annually 2nd nonnally increased in accordance with infiation data each year. Grant maklng poliey The Trustees confirni that they have refenrd to the guidance contsined in the Charity Commission's genernl guidance on publi¢ benefit when reviewing the chity'S aims and objectives and in planning futyre &tivitics and setting the grant-rn&king lIcY for the year. The Tenbury NILS Scheme offers nfrinterest loans and grants to pPIe in urgeni fmancial need across Worcestershire, Herefordshire, and Shropshire. Recently, the program has prioritised direct grants, &spe¢ially in response to the cost of living Grisis. Local funders have been keen to work with MLS to directly help local wple in (Tisis and the operations of the Charity have evolved to mttt the needs of fimders and clients. NILS purchases essential items up to £500 (such as white goods. household 8)d$. emergcncy removals, and travel passes) for clients, using local businesses when polb1¢. Clients genernlly receive benefits or have a low income. Their eligibility is eva]uated based on crlteria tablished by the trtee$. Grants and loans are not Provided in cash and must be used solely for their des]ted purp)ses. Related parties None of the Ttee5 receive remuneration orother tKnefrt from their work with the Chality. None of the Tne¢S have any beneficial interest in any service5 supplied to the Charity. Page 2
Tenbury Ntts Scheme Report ofthe Trnste fortheyear Ettded 31 MRrch 2025 STRucfuRE, GOVERNANCE AIYD MANAGEMENT Risk mAnagement The Trustees have a risk management strategy. including a regularty updatsl Risk Asse&sment which is fornially approved annually by the Trustees al which comprises: - a regular review of the risks the Charity may face. - the establishment of systems and procedures to mitigate those risks identified in the plan; aDd the implementation of procedures designed to minimise any Wntial impact on the Charity should those risks matsrialise. Particular attention Iw focused on risks in respect of income, gr8nt-making pNwses, pg)ple and frchnolo&v. A key clement in the management of financial risk is its gular review by the Tne¢s. The Trustees have given wnsid¢ration to the main risks to which the Charity is exposed and are sattsfied that systems and procedurts are in place to manage these risks. TRUSTEES, RESPONSIBILITIES STATEMD The Ttustees are responsible for preparing the Rewrt of the TneeS and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo Charities in England and Wales requires the Tntstees to prepare financial statements for each financial year which give a true and fair view of the slate of affai15 of the Charity and of the incoming resources and application of resources of the Chatity for perio tn preparing these financial ststements, the Tntstees are required to: select suitsble accounting poli¢ies and then apply them nSistenI1y. - observe the methods and principles in the Charities Strtement of Recommended Ptice 2019 (FRS 102). _ make judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have been fouowel subject to any material dwarttjns disclosed and ¢xplain¢d in the financial statements. and - prepart the fanCIal statements on the going concern basis unless it is inapptopriate to presume that the Charity will rA)ntinue in operation. The Trustees are responsible for keeping proper accounting records that disclose with re&sonable accura¢y at 8ny time the financial F¥)Sition of the Charity and enable them to ensure thai the financial statements comply with the Charities Act 2011. and where relevanL the Charities Act 2022. the Charity (A¢ciJunts 8nd Rep)rts) Regulations 2008 and the provisions of the Trust De. They are also responsible for safeguarding the &8sets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other iffegularities. The Trustees are resnsIble for the maintenance and integrity of the Charity and financial infomiation included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. REFERENCE AND ADMINisfRATIVE DETAIts Registered Charity number 1151036
Tenbury NILS Scheme Report of the Trnstees ror the Year Ended 31 March 2025 Principal addre cjo dhjh LLP 81 Teme Street Tenbury Wells Worcestershire WR15 8AE Trustees M Inglis S Harrison-stone D Stevens G Timlin (appK)inted 13.624) ndependent Examlner Mr S C Davies Streets Dyke Ruscoc Ltd I l O Corye Street Ludlow SHROPSHtRE SY8 IDJ Advisers Investment Advisevs: Pwl House Professional Advisers Ltd Dam Street Lichfield WS13 6AA Investment Custodi8ns: AJ Bell 4 Exchange Quays Man¢hes¢er M5 3EE OTHER OFFICIAIS Charity manager- Heather Baylis Finance manager. L¢sley Jenkins Website- httpsJ/nils.org.uk Approved by order of the bcord of trnstees on............................................. and SI on its Ixhalf by: D Stevens . Trustee Page 4
Independent Examiller's Report to the Trnstees of Tenbury Tr41LS Scheme Independent examinerfs report to the truste¢s of TeDbury Nlls Scheme E report to the charity trw8te&s on my examirthon of the actounL8 of Tenlxry NILS kheme (the TTUSt) for the year ended 31 March 2025. Responsibilttles aDd b4$b of report As the ¢harity tnLStees of the Trust you are r&SpOnble for the prwatton of the a¢LX)unts in acwrthce with the requirements of the ChltieS Act 2011 Cthe A(*). I report in respect of my examination of the TTUSt's aLwunts ¢aTTl1 out under Sethion 145 of the Act and in carying out my ¢xamination I hav¢ followeAI all applicable Dir&#i0Th8 given by the Clwity Commission under Se¢tion 145(5)(b) of the Act. Independent examiner's staternent I have completed My exwnination. I ¢4)nfinn that no material matters have ¢(xne to my attention in 0x)ntiOn with the examination gtving me Ca to believe that in any material r&spect: accounting records WCTC not kept in re$t of the Trtl as required by Section 130 of the ACL or the a¢¢ounts do not a¢cord with those records. or the accounts do not comply with the applicable Tequirements concerning the forn) and rA)ntort of accou set out in the Charities (Accounts and Rewrts) Regulations 28 other than any requiTement that the accounts give true and fair view which is not a matter ¢0rn8idered as part of an independent examination. I have no Concen and have come across no other matters in connethon wth the examination to which attention should b¢ drawn in this report in order to enable a understanding of the accounts to be reached. Mr S C Davies Streets Dyke Ruscoe Ltd 110 Corve Street Ludlow SHROPSHll SY8 IDJ Date.. ..2a...o.atob¢r.....R.Q2b
Tenbury NItS Scheme ststetnent of Financial Activitie5 for the Year Ended 31 M4r¢h 202S 2025 Total funds 2024 Tot fjjnds Unrestrlthd ReStri¢d fund funds Notes INCOME AND ENDOWMEls FROM Donations and legacies 128.672 106,249 234,921 181,380 EXPENDITURE ON CbAritable &etivities Outw¢h Proje Other restricted activities Other unrestricted activities 2.190 113.724 2,190 113.724 1,070 2,433 133,230 3.477 1,070 Other 52,970 52,970 64,026 Total 54,040 115,914 169,954 203,166 Net gains on inveslments 4.137 4.137 9,583 NET INCOMEI(EXPENDITURE) Transfers between funds 78,769 2.874 (9,665) (2.874) 69,104 (12.203) io Net movement in funds 81,643 (12,539) 69.104 (12,203) RECONCILIATION OF FUNDS Totsi funds brought fonyard 166,806 30.791 197597 209,800 TOTAL FUNDS CARRIED FORWARD 248,449 18252 266,701 197,597 The notes forni part of these financial statements Page 6
Tenbury NLiS Sch¢me Balance Sheet 31 March 2025 2025 Total 2024 funds funds FIXED ASSETS Tangible assets Investments 235 134.728 235 134,728 1,030 130.591 134,963 134.963 131,621 Debtors Pr¢pav. ments and aUed income Cash at bank 41 658 119J22 41 658 138,570 41 631 69,503 19248 120,021 19248 139269 70.175 CREDITORS Amounts fallin8 due within one year (3,103) (996) (4.099) (1.079) NET CURRENfASSETS 116,918 18252 135,170 69.096 TOTAL ASSEf6 LE&S CURRENT LtABfLITIES 251,881 18252 270,133 200.717 ACCRUAIS AND DEFERRED INCOME {3,432) (3,432) (3,120) ¥4ET ASSETS 248.449 18252 266,701 197,597 FUNDS Unrestri¢ted funds Restricted funds io 248.449 18252 166.806 30.791 TOTAL FUNDS 266,701 197,597 The financial statements were approved by Board of Tntstees and authorised ft)r issue on Z3.. io...¥o.1S....... gnd were sieAl on its behalf by: S HaTrison-Stone- Tnlstee
Tenbury NILS Scheme Note5 to the Fin*n¢ial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the fillancial ststements The f1¢la1 ststements of the Charity. which is a public nefit cntity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and RetM)rting by Charities: Statement of Re¢omrnendcd 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 l January 2019),. Financial Rwrting Standard 102 The Financial Reporting Standard PliCable in the UK and Republic of Ireland, and the Charities Act 2011. The fmancial statements have been prepared under the historical cost convention, with the exception of investments which are included at Met value. &$ modifiejl by the revaluation of certatn assets. Income All income is reCOlSed in the Statement of Financial Activities only the ¢lwity has entitlement to the funds, it is probable that the income will be Teceived and the amount can be measured reliably. Expenditure Liabilities alt reColSed as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it ts probable that a transfer of e¢onomi¢ benefits will be Tequired in settlement and the amount of thc obligation can be me&8ured reliably. Expenditrjre is account for on an a¢¢nlS basis and ha5 been classified under headings that awegate all cost ff lafrd to the Category. Whett costs cannot be directly attributed to particular headings they have been all¢xated to activities on a b&sis consistrnt with the use of rc50Urs. Tanglble fixed Issets Depreciation is provided at the following annual rates in order to write off each asset over its estimated usefijl life. Fixtures and fittings Computer equipment Straight line over 3 years Straight line over 3 years Tixation The charity is exempt from tax on its charitable activities. Fund a¢counttng Unrestrtcted fijnds can be used in ardance with the charitable objectives at the discreti¢)n of the trustees. Restrtctcd funds can only be used for particular restricted purpos&8 within the objects of the charity. Restrictions arise when specified by the donor or when fid$ aTe rdised for partt¢ular restricted pUtSeS. Further explanation of the nature and purpose of each fund is included in the notes fr) the financial statements. Pension costs and other pt-reremtt ben¢fits The charity operates a defined contribution pension scheme. Contributions payable to the charitys pension scherne are charged to the Statement of Financial Activities in the period to which they relate. continued...
Tenbury NILS Scheme Notes to the Financial Ststements- continued for the Year Ended 31 Mar¢h 2025 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ded 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustges. re-imbursements paid this year. STAFF COSTS The averag¢ monthly number of employees during the year wa$ as follows.. 2025 2024 Administration No employees received emoluments in exLWS of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrtvrriES Unrestricted fund Restricted fimds Totsl funds INCOME AND ENDOWMENTS FROM Donations and lega¢ics 43.080 138,300 181,380 EXPENDITURE ON Charit8bl¢ ¥rtivitles Outreach Project Other restricted activities Other Unstricted activities 2,433 133230 2,433 133,230 3,477 3.477 Other 64.026 64,026 Totsl 67.503 135.663 203,166 Net gains on investments 9.583 9,583 NET INCOMEI(EXPENDITURE) {14,840) 2,637 {12,203) RECONCILIATION OF FUNDS Total funds brought forward 181,646 28.154 209.800 TOTAL FUNDS CARRIED FORWARD 166,806 30,791 197,597 continued...
Tenbury NILS Scbeme Note$ to th¢ Fin*neiAI Ststements- tontrnued for the Year Ended 31 M4r¢h 202S TANGIBLE FIXED ASSETS Fixthres Computer equipment fittings Totals COST At l April 2024 Disposals 753 1.884 (564) 2,637 (564) At 31 March 2025 753 1,320 2.073 DEPRECIATION At l April 2024 Charge for year Eliminated on disposal 753 854 795 (564) 1,607 795 (564) At 3 l March 2025 753 1,085 1,838 NET BOOK VALUE At 31 March 2025 235 235 At 31 March 2024 1,030 1,030 FIXED A&SET INVEsfMENrs Listed investments MARKET VALUE At l April 2024 Additions 130,591 4,137 At 31 March 2025 134,728 NET BOOK VALUE At 31 March 2025 134,728 At 31 March 2024 130,591 There were no invesknent assets outside the UK. The dItiOnS of £4.137 represent the increase in value OV the ye8r. net of disposals and adviser and management charyes applied. Page io )ntinued...
Tenbury IYIIS Scheme Notes to the Fillancial Statements- continued for the Year Ended 31 March 2025 DEORs. AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Other debtors 41 41 CREDrroRS: AMou[S FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Other creditors 3,375 724 444 635 1,079 ACCRUALS AND DEFERRED INCOME 2025 2024 Accruals and deferred income 3,432 3.120 io. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unrestrfeted funds General fund 166,806 78,769 1874 248,449 Restrlcted funds Outreach Project Other restricted fitnds 2,19X) 28,601 (2,190) (7,475) {2,874) 18.252 30,791 (9.665) (2,874) 18,252 TOTAL FUNDS 197.597 69,104 266,701 Net movement in fijnds, in¢luded in the above are as follows: tncomin8 Resources expended Gatns and losses Movement in funds UDrestrieted funds G¢neral fund 128,672 (54.040) 4,137 78,769 R¢strirted funds Outreach Pmject Other restricted fimds (2,190) {113,724) (2,190) (7.475) 106,249 106249 (115.914) (9.665) TOTAL FUNDS 234.921 {169.954) 4.137 69,104 Page li continued...
Tenbury NILS Scheme Notes to the Financial Statements- continued for the Year Ended 31 March 2025 io. MOVEMEIIT IIN FUNDS- continued Comparatives for movement in funds Nel mov¢m¢nt in funds Ai 31.3.24 At 1.4.23 Unrestricted funds General fund 181.646 (14.840) 166.806 Re$trleted funth Outreach Project Other restricted funds 4.622 23,532 (2.432) 5,069 2.1 28,601 28.154 2.637 30.791 TOTAL FUNDS 209,800 (12203) 197,597 Compardtive net movement in fid% included in the above are as folk)ws: Incoming Resources expended Gains and losses Movement in fijnds Unrestricted funds General fund 43.080 {67.503) 9,583 (14.840) Restricted funds Outreach Project Other restricted fLmds (2.432) (133.231) (2,432) 5.069 138.300 138,300 (135.663) 2.637 TOTAL FUNDS 181J80 {203.166) 9.583 (12.203) A current year 12 months and prior year 12 months cornbined positlOD is as follows: Net movement in funds Transfers between funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 181.646 63.929 2,874 248.449 Restrlrted fun Outreach Project Other restrirt funds 4,622 23.532 (4.622) (2,406) (2,874) 18,252 28.154 (7.028) (2.874) 18.252 TOTAL FUNDS 209.800 56,901 266.701 Page 12 continued...
Tenbury NILS Scheme Notes to the Financi41 Statements- continued for the Year EDded 31 March 2025 io. MOVEMENT IN FUNDS- continued A cunt year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows.. Incoming Resourres expended Gains and losses Movement in funds Unra5tricted funds General fund 171,752 (121.543) 13,720 63,929 Restricted funds Outreach Project Other restricted fid5 (4.622) (246.955) 244.549 (4,622) (2,406) 244,549 (251,577) (7.028) TOTAL FUNDS 416JOI (373.120) 13.720 56.901 During the year various grants were received with ffstrictions attached. The balances stated below are all shown under the '(hher restricted fvnds, fijnd.. Blhvd Income Expenditure Transfer BAl&nee Individual Sour¢e National Fundtng Source Lwal Fundin8 sou¢ 1.875 639 1236 18J47 106.¢XIo 111,443 2,082 10,822 8.379 249 1.642 6,194 Total 28,601 106249 113,724 2,874 18.252 The restricted fund balance brought foTrYard also includes £2,19) gardIng the Outreach Project. This was set up on 2017118 and enables NILS to reach out to rural communities in Shropshire, Herefordshitt and Worcestetshire.The whole of this fund as been spent in the year. REIATED PARTY DISCLOSURES ii. There were no related paty transactions for the year endtsl 31 March 2025. GOING CONCERN 12. The tn consider that there are no materi81 uncertainties alx)ut the charity's ability tr) continue and the finan¢ial statements have therefore been prepared on the goin8 concern basis. Page 13
Tenbury NIIS Sebeme Detail¢d Ststement of Fin4ncial Artivities for the Year Ended 31 Mareb 2025 2025 2024 INCOME AND ENDOWMEwrs DonAtions And legacies Donations Lega¢i¢5 Grants 1.171 loo.000 133,750 6,380 175.000 234,921 181,380 Total incoming resources 234,921 181,380 EXPENDITURE Charitsble activities Purchaseslwts given 114.794 136,708 Support costs HumAn resources Wages Pensions HR Support 17,522 339 20.120 277 866 17.861 21,263 Other tnsuran¢e Telephone Postage and ststionery Sundries Professional fees Prior year defautted loans Computer eosts Computer equipment depreciation 1,009 714 407 3,303 26,395 952 1,140 860 3,350 33,488 119 727 796 1,098 33J51 41.7 Governanee eosts AGwunts and independent examiners fee 3,948 4,188 Total resources expended 169,954 203,166 Net In¢ompJ{expenditure) 64,967 (21,786) This page doe5 not fonn part of the statutory financial statements Page 14