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2023-03-31-accounts

Contents
Page
Reference and administrative information
Trustees'
annual
report
independent auditors'
report		 26
Statement of financial activities 30
(incorporating an income and expenditure account)
Balance sheet
Statement
of		 cash flows 32
Notes to the financial statements 33

6. Other relevant relevant organisations organisations
Solicitors Taylor Rose MW
104South End, South Croydon,
CRO 1OQ
T C Young
Melrose House, 69A George Street, Edinburgh, EH2 2JG
Custodian Trustees Pershing
Securities
Capstan
House, One Clove Crescent, London, E14 2BH
(investments
forthe main unrestricted		 fund)
Fiske PLC
100Wood Street, London,
EC2V 7AN
(investments
for the TfLStaff Welfare		 Fund)
Investment Managers Casttefield
Investment
Partners
LLP
9th Floor, 1't1 Piccadilly, Manchester, M1 2HY
(main unrestricted
fund)
Fieldings
Investment
Management
100Wood Street, London,
EC2V 7AN
(TfLStaff Welfare Fund)
Bankers Unity Trust Bank pic
Nine Br(ndleyp(ace,
Birmingham,
B1 2HB
(current account for the main unrestricted fund)
CAF Bank Ltd
25 Kings HiM Avenue,
Kings Hill, West		 Mailing, ME194JQ
(current account for the TfLStaff Welfare Fund)
CCLA (COIF Charity
Funds)
One Angel Lane, London,
EC4R 3AB
(investment
house used for placing part ofthe		 reserve account
for the main, unrestricted,
fund)
Accountants and Auditors Goldwins
Limited
75Maygrove
Road, London,
NW6 2EG

agreed distribution
of		 the inv estments
is:
Asset Class Minimum Ex osure % Maximum Ex osure%
UK Shares 50%
Global Shares 20% 50K
Fixed Interest
Bonds		 25%
Infrastructure
0 Pro		 rt 0% 10%
Other Investments 20X

TBF SWF Total Total
Note 2023 2023 2023 2022
f. '000 E'000 E '000 E '000
INCOME AND EXPENDITURE
INCOME FROM
Donations 3 3,818 - 3,818 4,074
Gift Aid on donations 879 - 879 949
Investment.
income		 52 48 100 101
Total income 4,749 48 4,797 5&124
EXPENDITURE ON
Raising funds:
Raising funds 926 . 926 886
Investment
Management		 costs 4 12 14 26 29
Charitable
activities		 5 3,330 38 3,368 3,416
Total expenditure 7 4,268 52 4,320 4,331
Net income before net gains 7(losses) on
investments		 481 (4) 477 793
Net gains I (losses) on investments 8 (207) (130) (337) 79
Net movement
in funds		 274 (134) 140 872
Funds brought
forward		 5 234 1 877 7 111 6 239
Funds carried forward 5 508 1 743 7 251 7111

TBF SWF TOTAL TOTAL
itote 2023 2023 2023 2022
E '000 E '000 E '000 E '000
Fixed Assets
Investments 8 3,589 1,655 5,244 5,034
3,589 1,655 5,244 5,034
Current Assets
Debtors 9 1,212 2 1,214 1,448
Cash at bank and in hand 768 93 861 693
1,980 95 2,075 2,141
Liabilities
Amounts
failing due within		 one year 10 (61) (7) (68) (64)
Net Current Assets 1,919 88 2,007 2,077
Total assets less current liabilities 5,508 1,743 7,251 7,111
The funds ofthe charity 11,12 5,508 1,743 7,251 7p1f1

TBF SWF Total Toto(
)Iote 2023
6 '000		 2023
6 '000		 2023
6 '000		 2022
I '000
)Iet cash provided
by / (used in) operating
activities 15 666 (51) 615 f42
Cash flows from investing activities:
Interest/ rent/
dividends		 from investments 52 48 100 fof
Proceeds from sale of investments 248 21 269 f11
Purchase ofinvestments 794 22 8'I6 129
Cash provided
by / (used		 in) investing activities 494 47 447 83
Change in cash and cash equivalents in the year 172 (4) 168 225
Cash and cash equivalents at the beginning ofthe
year 596 97 693 468
Cash and cash equivalents at the end ofthe year 16 768 93 861 693

Salaries, Pensions Salaries, Pensions & 60Xcosts ofgenerating funds, funds, 39X
Sodal Security costs charitable activities, ig governance costs
Premises 25X costs af generating funds, 73X charitable
activities, 2Xgovernance costs
Information Technology 25X costs af generating funds, 75X charitable
activities
Telecommunications and postage 49X costs of generating funds, 49X charitable
activities, activities, 2X governance costs
Travel &subsistence 98Xcasts ofgenerating funds, 2Xgovernance
casts
Deprecratfon ofoNce Equipment 25X costs of generating funds, 75X charitable
activities
Otherexpenses 33X costs of generating funds, 50X charitable
activities, 17Xgovernance costs

TBF SWF Total
2022 2022 2022
INCOME AHD EXPENDITURE E '000 E'000 E'000
INCOME FROM
Donations
Gift Aid on donations
Investment
income		 4,074
949
59		 42 4,074
949
10'I
Total income 5,082 42 5,124
EXPEHDITURE ON
Raising funds:
Raising funds
Investment
Management
Chadtable
activities		 costs 886
12
3,386		 17
30		 886
29
3,416
Tote(expenditure 4,284 47 4,331
Het income/(expenditure)
investments		 before nat gains on 798 (5) 793
Net gains on investments 49 30 79
Net income 847 25 872
Funds brought
forward		 4,387 1,852 6,239
Funds carried forward 5 234 1 877 7 111

E
Charities
Aid Foundation		 90
Euston Rail Service Co'llection 222
M Goulder 200
M P Chaplin 200
Personnel
and Financial Consultancy		 50
RailStaff Awards 3,446
TFL - Carol Service 147
Just Giving 409
Donations
from QMembers		 897
5,661

Raising fu nds
TSF SWF TOTAL TOTAL
2023 2023 2023 2022
E '000 E '000 E 'DDD E '000
Saiaries, Pensions, Social Security 650 650 641
Premises 34 34 40
Information Technology 28 28 33
Telecommunications and Postage 21 21 24
Travel and subsistence 37 37 20
Publicity 114 114 64
Otherexpenses 33 33 53
Governance costs (note 6) 9 9 11
Costs ofgenerating voluntary income 926 - 926 886
Investment management costs 12 14 26 29
Total cost ofgenerating funds 938 14 952 915
See also Note 7.

Charitable
Activities
TBF SWF TOTAL TOTAL
2023 2023 2023 2022
E '000 E '000 E '000 E '000
Hardship
grants for beneficiaries		 by Lacal
Committees [334] 334 332
(Na. ofgrants: 1,523) (2022: 1,575)
Hardship
grants for beneficiades		 by the trustees [397] 15 397 388
(No. ofTBFgrants: 1,785) (2022: 1,684)
(No. of SWF grants: 27) (2022: Z4)
Grants for beneficiaries
for medical equipment
and aids [32] 2 32 33
(No. ofTBFgrants: 122) (2022: 110)
(No. of SWFgrants: 2) (2022: 5)
Grants to beneficiaries
towards		 respite care
expenses
(No. ofTBFgrants: 0) (2022: 1)
(No. of SWF grants: 0) (2022: 0)
Casts in support of grant making 196 196 209
Total cost of grant
making		 959 17 959 964
Provision of convalescence [64] 7 64 66
(No ofTBFcases: 71)(2022: 62)
(No. ofSWFcases: 10)(20Z2: 12)
Provision of recuperation [15] 5 15 17
(No ofTBFcases: 29) (2022: 26)
(No. ofSWFcases: 9) (2022:0)
Medica( treatments
and consultations		 [1,769] 9 1,769 1,786
Legal assistance [11] 11 10
Debt relief [1] 1 1
Medical equipment
associated costs		 H 1
Costs in support ofthe provision of services 479 479 528
Total cost ofthe provision of services 2,339 21 2,339 2,409
Total 3,298 38 3,336 3,373
Governance
costs {note 6)		 32 - 32 43
Total cost af charitable
activities		 3 330 38 3 368 3416

Governance
Costs
TBF SWF TOTAL TOTAL
2023 2023 2023 2022
f.'000 E '000 E '000 E '000
Audit fees 7 7 8
Staff costs 11 11 11
Premises 3 3 3
Telecoms and postage 1 1 1
Travel and subsistence 1 1
Other expenses 18 18 30
Total cost ofgovernance 41 41 54
Allocated to raising funds
Allocated to charitable		 (9) (ff)
activities 32 32 43
Total

Unrestric ted
fund
information To!acorns Traveland
Staff Costs
2023		 Premises
2023		 Technology
2D23		 and postage
2023		 Subsistence
2023		 Publicity
2023
E'000 E'DDD E'DDD E'DM E'000 E'MD
Raising funds (Nate 4) 650 34 28 21 37 114
Charitable activities
(Note 5) 83 21
Governance costs (Note
6)
1 DB3 f36 43 38 114
Grants
Investment Audit and and Other Re-
lkanagomont
2023		 legal advice
2023		 sorvkos
2023		 expenses
2023		 ogocstlon
2023		 Tots I
2023		 Total
2022
E'IMD E'ODD E'000 E'000 E'000 E'000 E'DDD
Raising funds (Hoto 4) 12 33 9 938 898
Charitable Activities
(Note 5)
Governance		 costs 2,623 32 3,330 3,386
(Note 6) 7 18 (4'I)
12 7 2623 101 4268 4284

Staff Costs
2023 2022
E'000 E'000
Salaries 930 930
Social Security 101 91
Staff pensions 52 48
1 009 1009

2023 2022
No. Ho.
Raising funds 9 10
Charitable activities 9 9
Support 4 4
Governance 1 1
23

Fixed Assets - Investments
TBF SWF TOTAL TOTAL
2023 2023 2023 2022
E '000 E '000 E'000 E '000
Market Value at the beginning of the year 3,250 1,784 5,034 4,937
Add: Additions at cost 794 22 816 129
Less: Disposals
Net movement		 at market value
on portfolio		 (248)
(207)		 (21)
(130)		 (269)
(337)		 (111)
79
Market Value ofsecurities at the end ofthe year 3 589 1 655 5 244 5 034

Fund Value E Percenta
CFP Castlefields FD CFP Castlefietds Sust UK0 1 000 279 28X
CFP Castlefields FD CFP Castlefields Real Rtn Gn 381 037 11X
First Sentier Inv Sl WWIDE Sust 8CBP Dis 346 551 'IOX
CFP Castlefield FD CFP Castlefield Sust Eur 344 805 1OX
FP Wheb Ast M t FD FP Wheb Sust FD 8Acc 309464
CFP Castlefield FD CFP Castlefield Sust UK SML 271 460
Liontrust
Sust Futr GBLGTH 2		 201 062

9. Debtors
TBF SWF TOTAL TOTAL
2023 2023 2023 2022
E '000 E '000 E '000 f '000
Prepayments and other debtors 141 - 141 I01
Tax recoverable on subscriptions 888 - 888 1,120
Subscrlptions not yet received 183 - 183 223
Loans advanced to beneficiaries 2 2 4
1 212 2 1 214 1448
10. Liabilities: Amounts falling due within one year
TBF SWF TOTAL TOTAL
2023 2023 2023 2022
E '000 E '000 E '000 f '000
Audit fees 7 7 7
Staff costs 24 24 24
Other 30 7 37 33
61 7 68 64
11. Transport Benevolent Fund (Unrestricted)
2023 2022
E '000 f '000
Brought forward 5,234 4,387
Surplus for the year 274 847
Balance as at the end ofthe year 5 555 5234

TfLSt aff Welfare Fund (Restricted)
2023 2022
E '000 f '000
Brought forward 1,877 1,852
Surplus I (loss) for the year ~134 35
Balance as at the end ofthe year 1 343 1833



expenure

activities		 o ne c s flow from o perating
TBF SWF Total Total
Net income /(expenditure)
for the reporting
period
(as per the statement
offinancial activities)		 2023
f, '000
274		 2023
E '000
(134)		 2023
E '000
140		 2022
f '000
872
Interest, rent and dividends
from investments
(Gains)/ lasses on investments
(Increase)/ decrease in debtors
Increase/
(decrease) in creditors		 (52)
207
232
5		 (48)
130
2
1		 (100)
337
234
4		 (10f)
(79)
(543)
Net cash provided
by / (used in) operating
activities		 666 51 615 f42

TBF SWF Total Toto(
2023 2023 2023 2022
E '000 E '000 E '000 E'000
Cash at bank and in hand 768 93 861 693
Total cash and cash equivalents 768 93 861 693