Charity Registration No. 1159027 BEAT THE COLD CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BEAT THE COLD CIO LEGAL AND ADMINISTRATIVE INFORMATION Trustees Miss L Bentley Ms M Fyson Ms K M Wleman MrGHStow MrA Wilshaw Mr S J Allen (Appointed 6 March 20241 (Appointed 17April 2024) Charity number 1159027 Principal address B13 The Bridge Centre Birches Head Road Stoke-on-Trent Stafforshire ST2 8DD Independent examiner K.V.Staley FCA Bsc (Hons) Graphic House 124 City Road Stoke on Trent ST4 2PH Bankers Barclays Bank plc 36 Town Road Hanley Stoke-on-Trent ST12JQ CCLA Investment Management Limited COIF Charity Funds 80 Cheapside London EC2V 6DZ
BEAT THE COLD CIO CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 8-15
BEAT THE COLD CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and financial ststements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Charities Act 2011 and "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}" Objectives and activities The charity's objects are to promote any charitable purpose for the benefit of the community in Stoke-on-Trent, Staffordshire and surrounding areas by the advancement of education. the furtherance of health and the relief of poverty, distress and sickness, in particular by the provision of an infomiats'on, advice, support and referral service related to fuel povety and cold-related health complaints. and to the efficient use of energy (induding renewable sources of energy). The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Staffordshire County Council. Household Support Fund riage Servi for households to access funds toward ener y costs Energy Advice Service staffordshire County Council Local Authority Delivery Scheme (LADS 3) (EON) Tamworth Borough Council South Staffordshire District Council Lichfield District Council {Warmer Homes Greene Districts) Staffordshire Moorlands District Council Western Power Distribution Energy Savings Trust Cannock Stoke on Trent City Council stoke on Trent City Council Fuel Voucher Scheme South Staffordshire Community Energy Newcastle Borough Council East staffordshire Borou h Council Cannock Chase District Council Stafford Borough Council (Warmer Homes Stafford) Stafford Borough Council (Decarbonisation) Energy Savings Trust l Mid Mercia Citizens Advice Energy Redress Hospital Scheme Energy Advice Service Energy Advi Service EnergYAdvI Service Energy Advice SeNice Energy Advice Service Solar Batteries Advice and Support Energy Advice Service Fuel VoucherAdministration Energy Advi Service Energy Advi SeNice Ener y Advice Service Energy Advice Service Energy Advi SeNi Energy Advice Service Energy Advice Service Energy Advi Service Financial review The trustees are grateful to all the above funders that worked in partnership with us during the year.
BEAT THE COLD CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees goal is to accumulate sufficient reserves so that in the event of extemal funding not being available at any time the charity will have at least 3 months, and preferably 6 months running expenses, to enable the charity to provide the main advice, information and referral servIs. The reseNes will, in the case of closure, aim to cover all costs including redundancy payments. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Plans for future periods Beat the Cold aims to further its, work in the health sector, by reaching additional vulnerable patients to improve the health economy and patient outcomes through affordable wamith work. in line wth NICE Guideline 6. Work has commenced in support of this, through a pilot with North Staffordshire Combined Trust-led primary care practices, Moorcroft and Moss Green. This pilot Lrtilises One Health and Care digital records to target patients with health conditions which are vulnerable to the impacts of a cold home. Staffordshire and Stoke-on-Trent Integrated Care Board pem)itted the pilot, with a view to expanding the work to include additional health Conditions, and wider primary care neorkS in the future. Structure, governance and management The charity is a Charitable Incorporated Organisation that was formed on 30th October 2014 the Charity Commission. On 1st April 2015 it took over the assets and liabilities of Beat the Cold (Charity Registration number 1076957). In Consultation with the Charity Commission, the Constitution and Objects of the CIO were amended in October 2020. The trustees who served during the year were.. Mr P Massey Miss L Bentley Ms M Fyson Ms N A Jones Ms K M Wileman MrGHStow MrA Wilshaw Mr S JAllen (Retired 24 October 2023) (Resigned 9 February 2024) (Appointed 6 March 2024) (Appointed 17 April 2024) ReCltment and appointment of tnjslees The members of the CIO shall be its chanty trustees for the time being. The only persons eligible to be members of the CIO are its charity trustees. Membership of the CIO cannot be transferred to anyone else. Any member and charity trustee who ceases to be a charity trustee automatically ceases to be a member of the CIO. Apart from the first charity trustees. every trustee must be appointed for a temi of three years by a resolution at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Trustees actively review the major risks which the charity faces on a regular basis. They have examined the operational and business risks faced by the charity and acted to mitigate these risks. During the year, they identified the risks associated wilh the short term nature of much of their funding. They continued to consider the impact of competition beeen agencies on the charity. The trustees view partnership working as very important. Careful monitoring of cash-flow. a cautious approach to setting a budget and regular reviews of staffing mitigated the risks.
BEAT THE COLD CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees, report was approved by the Board of Trustees. 15."44GMTI Miss L Bentley Trustee 21 October 2024
BEAT THE COLD CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEAT THE COLD CIO I report to the trustees on my examination of the financial statements of Beat The Cold CIO (the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the CharitiesAct 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statemerrts carried out under sedion 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants in England & Wales. which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in aCcOrdae with Accounting and Reporting by Charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting practi effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no 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 charity as required by section 130 of the 2011 Act,. or the financial statements do not accord th those records" or the financial statements do not comply with the applicable requirements ncernIng the form and content 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 considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. K.V.Staley FCA Bsc {Hons) Graphic House 124 City Road Stoke on Trent ST4 2PH Dated: 21 October 2024
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BEAT THE COLD CIO BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Current assets Debtors Cash at bank and in hand 11 29,626 320,612 3,996 282,696 350,238 286,692 Creditors: amounts falling due within one year 12 (8.027) (12.639) Net current assets 342,211 274.053 Net assets 342,211 274,053 The funds of the charity Restricted income funds Unrestricted funds - general Unrestricted funds - designated 14 169.756 72.264 100.191 126,911 53,386 93,756 15 342,211 274.053 The financial ststements were approved by the trustees on 21 October 2024 .44GMT) Miss L Bentley Trustee
BEAT THE COLD CIO STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated froml(absorbed by) operations 33,281 {23,595) Investing activities Investment income received 4.635 1.620 Net cash generated from investing activities 4,635 1,620 Net cash used in financing activities Net increasel(decreasel in cash and cash equivalents 37.916 {21.975) Cash and cash equivalents at beginning of year 282,696 304,671 Cash and cash equivalents at end of year 320,612 282,696
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Beat The Cold CIO is a Charitable Incorporated Organisation that was fomied on 30th October 2014 with the Charity Commission. 1.1 Accounting convention The financial statements have been prepared in accordance viith the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Charities SORP (FRS1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 vthich has since been withdrawn. The financial statements are prepared in sterling, vthich is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concem As explained in the Trustees, Report. at the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going cOnM basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtheran of their Charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any perfomiance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) Legacies are recognised on reIpl or otheiSe if the chanty has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. 1.5 Expenditure Expenditure is recognised on an accruals basis as a liabilty is incued. Expenditure indudes any VAT which cannot be recovered and is reported as part of the expendilure to which it relates. 1.6 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and setde the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transacts'on, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised vthen the charity's contractual obligations expire or are discharged or cancelled. 1.8 Employee benefits The cost of any unused holiday entitlement is recognised in the pertod in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) 1.9 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects ClY that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no critical accounting estimates and judgements that are relevant to the charity's financial statements. Income from donations and legacies Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 20,250 6,495 Income from charitable activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Incoming resources from charitable activities 85.661 756,300 841.961 155.230 540,971 696.201 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 4,635 1,620 10-
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitable activities 2024 Charitable activities 2023 Direct costs Staff costs Accommodation costs Insurance Repairs and upgrade costs Postage, stationery. advertising and leaflets Telephone and intemet Travelling expenses Legal and professional fees Thermometer strips and cards Computer Costs Fuel vouchers Sundry expenses 288,267 10,869 2,299 42,045 3,474 3,387 4,918 2,173 294 13,891 369,052 4,063 294,608 10,782 1.792 23.145 4.157 5.269 3.992 2,907 546 12,763 318,534 2,135 744,732 680,630 Share of support and governance costs Isee note 7) Support Governan 51,646 2,310 58,601 2.190 798,688 741.421 Analysis by fund Unrestricted funds - general Restricted funds 71,129 727,559 169,605 571,816 798,688 741,421 Support costs allocated to activities 2024 2023 staff costs Governan costs 51.646 2,310 58.601 2,190 53,956 60,791 Analysed between: Charitable activities 53,956 60,791 11
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of the trustees who are all regarded as the key management personnel (or any persons conneded with them}, received any remunerab'on during the year(2023 - none), None of them were reimbursed travelling expenses {2023- none). Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Advice and information Administration and advice 11 12 Total 12 13 Employment costs 2024 2023 Wages and salaries Social security Costs other pension costs 302,187 22,923 14,803 284.543 21,148 47,518 339,913 353,209 There were no employees whose annual remuneration was more than £60,000. 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11 Debtors 2024 2023 Amounts falling due within one year: Trade debtors 29,626 3,996 12 Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income 2,927 5,100 8,270 4,369 8,027 12,639 12-
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge lo profit or loss in respect of defined contribution schemes 14,803 47,518 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 14 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 EBICO SSCE Energy Saving Trust Stoke-on-Trent Counal Fuel Vouchers Eon & Staffordshire County Council Warmer Homes Cannock Chase District Council Solar Batteries Stoke-on-Trent City Council NHS EST Lichfield District Council ESTCABMM Staffordshire Moorlands District Council, Stafford Borough Council East Staffordshire Borough Council NeWCastlUnder-LYrne Borough Council Cannock Chase District Council 9,124 20,434 (700) (9,124) 23.289 (28,506) 15,217 700 7.758 400.000 (410.837) 3.079 85,316 122,150 (156,980) 50,486 4.979 31.425 66.384 23.687 9.780 16,909 (32.987) (26.432) (12.928) (3.780) (7,672) 85 (12.989) (1.529) 3.685 3.502 26.963 9.230 9.685 9,237 13,000 25.556 (14,158) (24,807) 2,260 13,241 1,102 13,990 7.870 (3.297) 2.018 6.591 (2,014) (3,161) 3,681 8,997 1,667 22,086 16,250 126,911 756,300 (727,559) 14,104 169,756 13-
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Restricted funds Icontinued) Previous year: At 1 April 2022 Incoming resources Resources expended Transfe At 31 March 2023 Eon & Staffordshire County Council EBICO SSCE Energy Saving Trust Stoke-on-Trent Fuel Vouchers Minimum Energy Efficiency Standards.(MEES) Cannock Chase District Council Solar Batteries 105,522 9,124 35,827 16,736 9.479 146,826 (167,032) 85,316 9,124 20,434 (700) 7,758 23.062 (38,455) (169) (336.721) (17,267) 335.000 1,341 {1,341) (1,665) 36,083 (29,439) 4,979 176,364 540.971 (571,816) (18,608) 126,911 SSCE Keep Wann, Keep Well -To support patients who are referred to Beat the Cold by medical professionals, with energy advice and support. stoken- Trent City Council Household Support Fund To deliver fuel vouchers to residents in fuel poverty. EON & Staffordshire County Council Warmer Homes - to provide home energy advice as wraparound support to residents who have received energy efficiency measures. Cannock Chase District Council Solar Batteries - Installation of batteries for solar in support of renewable energy provision, and corresponding wraparound support. stoke-on-Trent City Council, Lichfield District Council. Staffordshire Moorlands District Council. Stafford Borough Council, East Staffordshire Borough Council, Newcastle-under-Lyme Borough Council, Cannock Chase District Council - Local authority-commissioned energy advice work for residents of each individual geographical area in support of reduction of fuel poverty- NHS EST - To further health work for the county by supporting additional patients with affordable warmth advice. ESTCABMM - To provide energy advice to residents through a key partnership. 14-
BEAT THE COLD CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Unrestricted funds - designated The income funds of the charity indude the follov4ing designated funds which have been set aside out of the unrestricted funds by the trustees to provide the charity with funds in the event of unexpected developments or closure. At 1 April 2023 Transfers At 31 March 2024 Contingency 93,756 6,435 100,191 Previous year: At 1 April 2022 Transfers At 31 March 2023 Contingency 90,337 3,419 93,756 16 Analysis of net assets between funds Unrestricted Unrestricted funds funds general designated 2024 2024 Restricted funds Total 2024 2024 At 31 March 2024: Current assetsl{liabilities) 72.264 100.191 169.756 342,211 72.264 100.191 169.756 342,211 Unrestricted Unrestricted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 At 31 March 2023: Current assetsl{liabilities) 53.386 93.756 126,911 274.053 53,386 93,756 126,911 274,053 17 Related party transactions There were no disdosable related paty transactions during the year (2023 - none). 15-