# **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 1 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 2 ## **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