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2025-03-31-accounts

MEDWAY TOWNS SOROPTIMIST TRUST

TRUSTEES REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31[ST] MARCH 2025

Registered charity number 1175474
Report of the Trustees
Administrative details 2
Governance 2
Objectives and activities 3
Achievements and performance 4
Financial review 6
Structure, governance and management 7
Declarations 8
Financial report (Accounts for the year ended 31st March 2025)
Receipts and payments accounts 9
Statement of assets and liabilities 10

Registered Charity No. 1175474

Medway Towns Soroptimist Trust Annual Report 2025

1

Report of the Trustees

The Trustees present their report with the financial statements of the charity for the year ended 31st March 2025. The Trustees confirm that the annual report and financial statements comply with the current statutory requirements, the requirements of the trust’s governing document and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (SORP FRS 102).

Administrative details

Registered Charity Number: 1175474 Registered Office: Medway Towns Soroptimist Trust 42 Academy Drive Gillingham Kent ME7 3EJ Trustees: Barbara Fisher Janet Garnons-Williams Wanda Wright Angela Howe Carol McKeough Staff: No staff are employed by the Trust Independent Examiner: No independent examiner is named here, as the trust’s low income currently precludes examination or audit.

Governance

The Trust is a Charitable Incorporated Organisation (Foundation model), registered charity number 1175474.

The Charity’s constitution is the primary governing document of the Charity.

The Medway Towns Soroptimist Trust was registered with the Charity Commission on 31[st] October 2017.

Purpose

The purpose of the trust is to ensure the responsible management of a small financial endowment and to occasionally award modest grants.

Background

The original investment was generated by members of Soroptimist International of the Medway Towns in the 1960s and we are influenced by their Soroptimist philosophy of actively supporting the community locally, nationally and internationally, through service and through funding.

The Trust is managed by a Board of Trustees, all of whom are (but do not have to be) members of Soroptimist International.

Soroptimist International is a recognised Non-Governmental Organisation (NGO) representing women from all over the world. Soroptimist International (SI) and Soroptimist International Great Britain & Ireland (SIGBI) both have consultative status at the Economic and Social Council (ECOSOC) at the United Nations (UN), which gives a voice on important discussion papers, and allows members to attend the Commission on the Status of Women in New York each March, and contribute to the “Agreed Conclusions”. This status would not be possible without the fantastic work being done by, and facilitated by, Soroptimists at local level.

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There are around 72,000 Soroptimists in 121 countries, the majority of whom belong to their local Club, where they can make friends with like-minded women, have fun and work on projects that help improve lives.

Objectives and activities

Charitable objectives

The object of the charity as set out in its governing document is:

To further such charitable purposes (charitable under English law) as the Trustees see fit from time to time.

Activities

The trust exists to manage a small endowment and occasionally provide modest grants for projects which fit within the areas of work listed in the guidelines.

The Trust has an obligation to:

The Trustees consider applications quarterly.

Public benefit

The Charity’s Trustees have complied with their duties under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Medway Towns Soroptimist Trust’s particular public benefit activities are included under Achievements and Performance, illustrating the commitment of the Charity to supporting charitable causes locally, nationally and internationally.

Policy on grant making

In recent years the Trustees have strengthened their focus on the Soroptimist mission: Soroptimists transform the lives and status of women and girls through education, empowerment and enabling opportunities .

They also recognise that, as an organisation which is in touch with the local community, the Trust can often offer a nimble response to local causes which larger charities cannot.

The grant making priorities are therefore to:

The grant application form and guidance reflect these priorities.

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The Trust conducts quarterly minuted Board meetings at which grant decisions are made. The decision to award a grant must be a majority decision of a quorum of Trustees. The quorum is two charity Trustees. If an urgent application is received, it may be discussed and voted upon by email between Board meetings.

A Trustee may declare an interest in an applicant organisation, in which case they will withdraw from the vote. In the case of an equality of votes, the Chair has a second or casting vote.

The Trustees gather sufficient information, primarily through the application form, to give assurance that the applicant is genuine, reliable and competent, and suitable for us to support in terms of meeting our charitable purposes. Occasionally a vote will not be held until we have requested and secured more information about the applicant or their project.

The Trustees insist on appropriate monitoring of the grant spend in terms of progress reports and invoice evidence, to give Trustees oversight and scrutiny. Our level of monitoring and scrutiny will be proportionate to the size of the grant.

Achievements and performance

Activities to 31st March 2025

We have made a little more progress this year in increasing our activity since the pandemic, but our grantmaking activity has yet to reach pre-Covid levels. Similarly, our investment continues to make a slow recovery due to market pressures this year.

Managing our investment

Our financial assets continue to sit with Atomos Investments Limited, an investment house who provide the level of financial monitoring and management we need to give us control and accountability.

Our investment’s journey reflects market challenges. Our original capital investment with Sanlam in April 2018 was £120,000 and it grew well over the first 3 years, despite fluctuating during Covid, reaching £141,640 by 31[st] March 2021. By 31[st] March 2022 it had grown by £6,967 but a withdrawal of £10,000 left the balance at £138,607.05. By 31[st] March 2024 the balance was £156,699.62. At the end of the financial year, 31[st] March 2025, it stood at £164,463.73, a gain of £7,763.81 after fees.

The Trustees continue to be very grateful to Leon Payne of S & P Wealth Management for his independent financial advice. Leon continues to offer advice and guidance without charge, as he wishes to support the valuable work of the Soroptimist movement.

Operational account

Our operational account with Lloyds Bank covers the cost of grants and bank charges. The balance at 31st March 2025 stood at £5,654.59.

Grants awarded

Our aim has always been to allocate around £4,500 per annum to donations and bank charges. This year we made 6 grants totalling £3,005:

In May 2024 we awarded £450.00 to Sateda for publicity materials.

In June we awarded a grant of £455.00 to the Clarian Housing Group towards the cost of a family’s day to the Fenn Bell Zoo.

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• August 2024: £500.00 to Sateda Ltd

In August we awarded a grant of £500.00 to Sateda Ltd for their Freedom Programme workbooks. Up to 72 women to be provided with a workbook to supplement their Freedom Programme highquality life changing domestic abuse advice and provide free support.

• October 2024: £1000.00 to 3[rd] Walderslade Guides

In October 2024 we awarded a grant of £1,000.00 to 3[rd] Walderslade Guides for their 2025 residential trip to Hautbois Activity Centre. The full cost was estimated to be £12,500 and the guides intended approaching other trust and foundations for further grants.

• November 2024: £200.00 to Blythswood Care

Every Christmas, Blythswood Care co-ordinates the filling, collection and distribution of shoe boxes, the “Shoe Box Appeal”, to bring some happiness to people in need. People across the country fill boxes, many of which will go to the collection centre in Gillingham. Whilst all the boxes are donated voluntarily, there is a cost incurred by Blythswood in transporting them to their destination. The Trust awarded a grant of £200.00 to contribute to Blythswood Care’s transportation costs.

We have not advertised our grant scheme and recipients tend to come to us through charities or other organisations by word of mouth. We did not support the many unsolicited requests for funding from large national charities and small London charities.

In our cash account, £8639.59.18 was brought forward at the start of this year. Grants of £3,005.00 were awarded, and we had a donation of £20, leaving a balance of £5,654.59 to be carried forward.

Website

In the past, the Trust had a page on the website of the Soroptimist International Medway club, where applicants could find the application form and guidance.

Financial review

Principal funding source

Our sole funding source when the charity was formed was the financial investment endowed by Medway Soroptimists, as described on page 2.

Total funds

At the end of this period our total funds were £115,654.59. Of this, we continue to record our original investment of £110,000 in the Sanlam investment account. Its value of course fluctuates over time and the current value will only be realised if and when we release the asset. We will monitor closely. The remaining £5,654.59 is in our bank account, to give cash reserves for operational costs and awarding grants.

All funds are unrestricted.

Reserves policy

The Trust employs no staff and is operated entirely by the Trustees, who are volunteers. Our running costs are minimal (to date mostly bank charges), so we will ensure that a balance of £500 will always remain in our cash account to meet the Charity Commission guideline of reserves of 3 - 6 months of running costs.

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Our main reserves are our capital investment. We aim to maintain an investment of at least £110,000 to ensure we generate some growth which can be accessed every three years to top up the bank cash account. This will ensure we can continue to make modest grants to meet our charitable objects.

Risks

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Quarterly formal Trustee meetings are held to review progress towards achieving the Charity’s objectives and to promote strategic direction within the Trust.

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The Trustees regularly address risks and uncertainties and put in place procedures and controls to ensure those risks are adequately managed. The principal risks in 2025 are:

The first will be mitigated by close monitoring of our investment, consulting our advisor at S & P Wealth Management as necessary.

The second is mitigated by robust due diligence when assessing a grant application and good decision making.

The third is a very low probability risk and we continue to generate interest in the Trust by communicating our work to colleagues and supporters, a potential source of new Trustees.

Plans for the future

Although we awarded more grants this year than last, the Trustees recognise that in most years the charity has fallen below its donation target and subsequent contribution to public benefit.

We are a very small charity and will continue to operate in a cautious way over the next 3 years, aiming to award total grants of up to £4,600 per annum. We will maintain our policy of not advertising and will continue to rely on the number of applications growing by word of mouth. To achieve our target we will more proactively seek out causes which meet our objectives.

We look forward to seeing our modest donations continue to make a real difference to people’s lives locally, nationally and internationally.

Structure, governance and management

Board of Trustees

The Medway Towns Soroptimist Trust is a Charitable Incorporated Organisation (Foundation model), registered charity number 1175474, set up in 2017 in response to the need to manage the Soroptimist endowment. The founding Board of Trustees was Liz Duckworth (Chair), Barbara Fisher (Treasurer), Lillian Gould, Janet Garnons-Williams and Sue Daykin, skilled and committed volunteers with strong backgrounds in finance, law, fundraising and the VCSE (Voluntary Community and Social Enterprise) sector. Sue stepped down at the 2020 AGM and we were delighted to welcome Wanda Wright to the Board as a new Trustee. Lillian Gould stepped down in March 2024. In February 2025 sadly Liz Duckworth died. In the Interim period Barbara Fisher took over as Chair. At the AGM held on 9[th] July Carol McKeough agreed to become Chair of the Trust.

The Board is responsible for the strategic direction of the organisation and meets regularly to manage the investment, to assess any applications for funding which have been received, and ensure that the Trust is on track to meet its objectives. The Board met twice during the last financial year as well as convening the Annual General Meeting in July 2025. The fact that only two meetings and the AGM was delayed was due to the death of our Chair.

The Trustees have complied with the duties described under the Charities Act 2011, and with proper regard to the guidance published by the Charity Commission.

Each year we submit the annual report of the Trustees and accounts to the Charity Commission for the financial year ending 31[st] March. Our report to 31[st] March 2024 was completed and submitted before the due date and was accepted.

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Thank you

I would like to thank my fellow Trustees for their ongoing conscientious work for the Trust this year, and to Leon Payne for his continued support and advice. We look forward to growing our donations over the coming year and to continuing to make a real difference to people’s lives locally, nationally and internationally.

Barbara Fisher Chair 24/07/2025

Declarations

The Trustees declare that they have approved the Trustees’ report above.

Signed on behalf of the charity’s Trustees

Signature(s)
Full name(s)
Position
Date		 J G Williams
Barbara Fisher Janet Garnons-Williams
Trustee/Acting Chair Trustee
14/08/25 14/08/25

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Medway Towns Soroptimist Trust Annual Report 2025

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Financial report

Medway Towns Soroptimist Trust

Registered charity no. 1175474

cc16a

Receipts and payments accounts

For the period from 1st April 2024 to 31st March 2025

Section A Receipts and payments

A1 Receipts Unrestrict
ed funds
8,639
20
8,659
-
-
8,659
200
950
400
455
1,000
3,005
-
-
3,005
5,654
-
-
5,654		 to the nearest £
Restricte
d funds
Endow-
ment
funds
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
8,639
20
8,659
-
-
8,659
200
950
400
450
1,000
3,005
-
-
3,005
5.654
-
-
5,654		 Last
year
Bank account 8,639 10,886
Donations 20 13
Drawdown from capital account
Sub total(Gross income for AR) 8,659 10,899
A2 Asset and investment sales
- -
Sub total
Total receipts		 - -
8,659 10.899
A3 Payments
Bank charges
Medway Youth Council
Water Aid
Meru Women's Garden Project
Meru Teen Mums project
Ovarian Cancer Action
School uniform appeal
Blythswood Care 200 350
Zisize Feeding Project
Family Kitchen Project
Sateda Ltd 950
'Love Me, Love Me Not'cards
Women’s Refuges Christmas Hampers 400 200
MedwayDomestic Abuse Service
Dandelion Time 500
Maidstone Women’s Refuge 500
The Shannon Trust 500
Clarion Housing (Medway Refuges) 455
3rd Walderslade Guides 1,000
Carers First (Young Carers) 210
The Hygiene Bank Medway
Sub total 3,005 2,260
A4 Asset and investment purchases
- - - -
Sub total
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end		 - - - -
3,005 - 3,005 2,260
5,654 - 5.654 8,639
- - - -
- - - -
5,654 - 5,654

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Section B Statement of assets and liabilities at the end of the period

B1 Cash funds
B2 Other monetary
assets
B3 Investment
assets
B4 Assets retained
for the charity’s own
use
B5 Liabilities		 Bank
account
Total cash
funds
Atomos
investment		 Unrestricted funds
to nearest £
5,654
-
5,654
Unrestricted funds
to nearest £
-
-
Fund to which asset
belongs
Capital investment
Fund to which asset
belongs
Fund to which
liability relates		 Restricted funds
to nearest £
-
-
-
Restricted funds
to nearest £
-
-
Cost (optional)
-
Cost (optional)
-
-
Amount due
(optional)
-
-		 Endowment funds
to nearest £
-
-
-
Endowment funds
to nearest £
-
-
Current value (optional)
110,000
-
Current value (optional)
-
-
When due (optional)
-
-

Signature Signed by one or two Trustees on behalf of all the Trustees J G Williams

Print Name Date of approval Barbara Fisher 14/08/2025 Janet Garnons-Williams 14/08/2025

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