ANNUAL REPORT FOR FINANCIAL YEAR ENDING 31ST DECEMBER 2024
Governance and Administration
Beeston Consolidated Charity CIO (Charity Registration No.1164090), is a Charitable Incorporated Organisation whose principal address is PO Box 10425, Nottingham NG9 9GN, and which is regulated by a Constitution dated 10[th] October 2015. The Charity exists to help those in financial hardship who reside in the Urban District of Beeston as constituted on 16[th] June 1911.
The trustees comprise:
Bryan Spencer (Chair) Maggie Fetter (Vice Chair) Steve Race (Secretary) The Reverend Wayne Plimmer Kaye Ford Councillor Helen Skinner Councillor Ellie Winfield
Councillors Helen Skinner and Ellie Winfield are Nominated Trustees appointed by Broxtowe Borough Council.
Five Full Trustees’ Meetings were held in 2024. In addition, the Business Planning Working Group met on six occasions to consider the administration and management of the Charity.
Assets and Liabilities
The assets of the Charity comprise COIF investments managed by CCLA Investment Management Ltd. These investments are spread across two funds: Ethical Investment Fund (76%), and Property Fund (24%).
An interest-earning COIF Deposit Fund holds the Charity's reserves fund.
The Charity's liabilities relate solely to its grant-making commitments to other organisations, which are protected by Funding Agreements.
Reserves Policy
The Charity’s reserves policy is to provide adequate financial stability to ensure the continuity of its financial commitments to beneficiaries by holding in reserve sufficient funds to meet up to three months’ expenditure to other charities and organisations. This will enable the Charity to continue to make these payments in the short-term, in the event of a
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significant downturn in income beyond its control. Trustees will review the amount of reserves on a quarterly basis to ensure their adequacy.
Activities during 2024
Throughout the year, the Charity has actively sought to make grants to organisations operating in Beeston which have similar objects to its own, helping those in need, hardship or distress. In exercising their duties, the Charity trustees have had due regard to the guidance issued by the Charity Commission on public benefit.
2024 proved to be an exceptionally challenging year for the Charity, with a 55% increase (from 2023) in the number of applications for assistance from (or on behalf of) individuals and families. Even with the changes made to the Charity’s Scheme of Delegation in 2021, it proved very difficult to manage this exceptional volume of applications, from both an administrative and a financial perspective.
For these reasons, the trustees took the very difficult and regrettable decision that, from 1[st] January 2025, the Charity would discontinue the provision of grants to individuals and families. Instead, the Charity will concentrate its efforts to supporting other registered charities and voluntary organisations, with similar objects to its own, with their own work in the Beeston area.
The Charity's regular grant-funding to organisations amounted to some of 69% of income. Other one-off grants, plus financial assistance to individuals and families, took the overall distribution to 100% of income. Governance and administration costs were 3.4% of income. In addition, the Charity maintained a healthy reserves fund.
The total income for the Charity for year-ending 31[st] December 2024 was £173,292. The Charity’s total expenditure for the year was £179,486. The Charity had sufficient cash balances to meet this overspend.
Signed: B W Spencer, Chair
Dated: 19[th] June 2025
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BEESTON CONSOLIDATED CHARITY
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024
| Year Ended 31 December 2024 £ £ RECEIPTS COIF Dividends 172,040 Interest 1,252 173,292 PAYMENTS Distribution Other organisations 119,322 Individuals/families 54,300 173,622 Governance Costs Legal fees 1,882 Accountancy fees 1,092 Registration with Information Commissioner 35 3,009 Administration Expenses Insurance 442 I.T. and Stationery 561 P.O. Box Fee 353 Document storage 620 Website 270 Room hire 562 Miscellaneous 47 2,855 Total Payments (179,486) EXCESS (PAYMENTS) OVER RECEIPTS (6,194) BALANCES At 31 December 2024 £ Lloyds Bank Current account 35,053 Reserves Fund 25,000 60,053 ASSETS Investments in COIF Funds - valuation at 1 January 2024/2023 4,905,211 Approved capital release (52,200) Increase in fund value 90,416 Valuation at 31 December 2024/2023 4,943,427 (As valued by CCLA Investment Fund Managers at the year end date) LIABILITIES Committed payments to various bodies by 31 March 2025/2024 30,584 |
Year Ended 31 December 2023 £ £ 169,527 1,134 170,661 121,533 40,086 161,619 1,440 1,092 35 2,567 423 279 330 - - 510 10 1,552 (165,738) 4,923 At 31 December 2023 £ 41,247 25,000 66,247 4,648,566 - 256,645 4,905,211 27,750 |
Year Ended 31 December 2023 £ £ 169,527 1,134 170,661 121,533 40,086 161,619 1,440 1,092 35 2,567 423 279 330 - - 510 10 1,552 (165,738) 4,923 At 31 December 2023 £ 41,247 25,000 66,247 4,648,566 - 256,645 4,905,211 27,750 |
|---|---|---|
| 66,247 | ||
| 4,648,566 - 256,645 |
||
| 4,905,211 | ||
| 27,750 |
The Charity does not hold any Restricted Funds.
BEESTON CONSOLIDATED CIIARITY Independent Examiner*s Report to the Trustees of the Beeston Consolidated Charity I report on the a¢counts of the Charity for the year ended 31 December 2024. Respective responsibilities of trustees and examintr The ¢harity'S trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under secuon 144{2) of the Charities Act 2011 Ith¢ 2011 Act) and that an independeDt exaTnination is needed. It is my responsibility to.. Examine thc accounts under section 145 of the 2011 Act, To follow the prLicedur¢s laid down in the general Directions given by the Charity CoTnmi5sion under Section 145(5)(bl of the 2011 Act.. and To state whether particular matters have corne to my attention. Basis of the Indepcndent ExarniThers' Report My examination was ca)Tied out in accordan¢¢ with the general Directions given by the Ch8riry ComTllis5ion. examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items OT disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do nLIt provide all the evidencc thai would be required in an audit, and consequently no opinion 15 given as to wh¢ther the accounts present a 'true and fair view. and the report is limited ro those matte15 set out in the stateTnent below. Independent Examiners, Ststernent In connection with my exarninatioft, no matter ha5 come io my att¢ntLOn'. (i) which gives me reasonable cause to believe that in any material respect the requirements.. to keep proper a¢counting records in accordance with section 130 of the 201 l Act. and io prepare accounts which accord with the ac¢ountlDg records and comply with the accounting requirements ofthe2011 Act have not been met. or {2) to which, in my opinion, attention should be drawn in order to enable a PToper understanding of the accounts to be reached. Lp Andrew P Cr05sley FCA Baldwin Cox Limited Chartered AceouRtants 15 Foster Avenue Beeston Nottingham NG9 IAE 06