CHICHESTER WELFARE TRUST – CHAIRMAN’S REPORT STATEMENT 2023-2024
As a registered charity, Chichester Welfare Trust is committed to relieving poverty and hardship within the City of Chichester and the adjoining parishes. Our primary focus is to provide grants, essential items, and services to individuals and families experiencing financial difficulty or facing unexpected challenges.
During the past year, we have provided welfare grants totalling £4,487 , supporting local residents who are struggling to meet basic needs. These grants have made a significant difference in the lives of many by covering essential costs such as carpets, curtains, nursery school fees, household appliances , and other critical items that improve living conditions and provide comfort and security in difficult times.
Our ability to offer this financial support relies heavily on the responsible management of our charitable reserves. We are pleased to report that our investments are being carefully managed to achieve maximum returns , enabling us to reinvest these funds directly back into the community through our grant program. This prudent financial stewardship ensures that the Trust remains sustainable and continues to serve those in need for years to come.
We would like to extend our heartfelt thanks to Ruth Taunt , our dedicated Welfare Officer, for her tireless work in identifying and reaching those in greatest need. Ruth works closely with West Sussex County Council (WSCC) and other local agencies to ensure that vulnerable individuals and families are aware of the support available and can access the help they require. Her compassionate approach and extensive local knowledge are invaluable to the Trust's mission.
In addition, we are deeply grateful to our Clerk, Clare de Bathe , for her meticulous oversight of the Trust’s investments. Clare’s expertise and attention to detail have ensured that our financial resources are well-managed and optimized , allowing us to make the greatest possible impact within our community. Her dedication to the Trust’s work has helped to safeguard its future and ensure that vital support continues to reach those who need it most .
As we look ahead, Chichester Welfare Trust remains committed to providing practical and meaningful assistance to local individuals and families. Through careful management of our resources and collaboration with key partners, we will continue to play a vital role in supporting those facing financial hardship and improving quality of life across the region .
We thank everyone involved in the work of the Trust – our staff, trustees, and supporters – for their ongoing efforts and contributions to making a positive difference in our community Clare Apel, Chair January 2025
CHICHESTER WELFARE TRUST
STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024
| 2023 | 2024 | |
|---|---|---|
| INVESTMENTS AS AT 1 JULY 2024 | £ | £ |
| Barclays Bank Community Account | 2,852 | 12,874 |
| Charinco Investment Fund | 14,855 | 13,609 |
| Rathbones Investment | 88,727 | 0 |
| COIF Investment Fund | 0 | 65,377 |
| Opening Totals | 106,433 | 91,859 |
| DEDUCT EXCESS OF EXPENDITURE OVER INCOME | ||
| Income | ||
| Interest Received | ||
| Charinco Investment Fund | 0 | 0 |
| CCLA investment | 1,903 | |
| Donations | ||
| Cash Deposit | 0 | 0 |
| Credit from realisation of Rathbones Investment | 90,023 | 0 |
| Total Income | 90,023 | 1,903 |
| Expenditure | ||
| Welfare Grants | 14,219 | 4,487 |
| Miscellaneous admin costs | 782 | 500 |
| Purchase of COIF Investment | 65,000 | 0 |
| Total Expenditure | 80,001 | 4,987 |
| EXCESS INCOME/ EXPENDITURE |
15,001 | 4,987 |
| Unrealised profits/ losses on investments |
426 | 7,336 |
| Closing Totals | 91,859 | 94,208 |
| ======== | ======== | |
| Represented by - | ||
| INVESTMENTS AT 30 JUNE 2024 | ||
| Barclays Bank Community Account | 12,874 | 9,790 |
| Charinco Investment Fund | 13,609 | 13,624 |
| Rathbones Investment | 0 | 0 |
| COIF Investment Fund | 65,377 | 70,795 |
| 91,859 | 94,209 | |
| ======== | ======== |
The financial records of the Trust have been duly audited for the year ended 30 June 2023, and the above Statement is a true and accurate record of the position of the Trust at that date.
Hon Treasurer - Clare de Bathe