Exeter Dispensary Charity CIO (Charity registration number- 11895341 Annual Report and Financial Statements For the Year Ended 31 December 2023 EXETER DISPENSARY CHARITY CIO Charity re815tration number 1189534 ANNUAL REPORT and FINANCIALSTATEMENTSfor YEAR ENDED 310ECEMBER 2023 CONTENTS pa8e Legal and administrative information Trustee5' annval report Independent examiner's report Statement of financlal activities Balance sheet Notes to the financial statements EXETER DISPENSARY CHARITY CIO Charity registration number 1189534 LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENOED 31SI DECEMBER 2023 CONSTITUTION The CIO 15 governed under a Charity Commission Scheme dated 18 May 2020. ADDRESS Ridge Farm 8roaéhembury Honiton EX14 3LU TRUSTEES Mr A McNicol Ms J Wilson Mrsj A Charles Mr A J Eveleigh Ms J Hickey Cllr A Leadbetter Mr M McGahey Dr J Richards Dr V Rosser Mr M Stott (Chairman) (Vice Chairman) (Resigned 29 March 20231 (Exeter City Council) th (Resigned 29 March 20231 (Treasurerl Trustees serve for a period of thfee years., they can then be reappointed for a further term of three years. A trustee who has Served for three consecutive terms may not be appointed for a fourth consecutive term but may be reappointed after an interval of at least one year. The reappointment dates of the charity trustees have been staggered to enable a phased programme of their retirements or reappointments. Hon Secretary Mrs Carol Cathcart Hon Applications Secretary Dr David Bostock Solicltor5 Tozers LLP Broadwalk House Southernhay East Exeter EXI IUA Bankers CAF Bank Limited 25 King5 Hill Avenue West Malling Kent ME19 4JQ Independent Examiner Sunny Truran Bush & Co Lirnited Chartered AccoJntants 2 Barnfield Crescent Exeter EXI IQT Ex￿ER DISPENSARY CHARITY CIO Charity registration number 1189534 TRUSTEES, REPORT The Trustees present their report together with the financial statements of the Charity for the year ended 31 December 2023. The financial Statements comply with current statutory requirements, the governing document and have been prepared in accordance with applicable accounting standards. the Charities Act 2011 and the Statement of Recommended Prattice.. Accounting and Reporting by Charities IFRS 1021 issued in 2015 and the 2008 regulations. Charltvs objects The Charity is governed by a Scheme dated 18 May 2020. Its charitable objects are the relief of suffering amor7g sick or disabled people of all ages who are in financial need and live within the boundaries of the City of Exeter. making grants or donations to other charities based in Devon and having similar aims and objectives as Exeter Dispensary Charity. The Trustees confirm that they have paid due regard to the Charity Commission's guidance on public benefit when undertaking the following activities.. Making grants to individual people meeting the criteria for or towards the cost of medical aids and appliances not provided from public funds, chiropody. heating, bedslbedding, warm clothing and footwear. floor covering, domestic appliances and such other necessities as the Trustees may from time to time deem appropriate. Making grants or donations to other charities having sirnilar objects which provide appliances and medical and ancillary care and assistance for the sick and disabled in Exeter. Supportive grants to Indlviduals 215 gr3nts12022 - 187 grants) amounting to E43,02212022 - E36.3281 were advanced to kndividuals during the year. The increase in number of grants awarded reflects the increased demand for charivs services. The cost of fulfilling the grants has also been impacted by inflation on the cost of good5. The grants have benefitted a wide range of people with physical and mental health problems. whose living conditions have not been easy for them, and whose income has not kept pace with the rise in the everyday cost of living. The needs we have met have varied from practical household items, furniture, carpets, help with utility costs and basic living expenses, and they are often against a background of debt, and sometimes violence or broken relationships, as well as seriou5 illness or disability. Helping children has been an important part of our grant giving. Grants to other charltles During 2023. 6 grants were paid to other charities amounting to £6,51612022- £2.811)- See pa8e 6. General fund The CharitV'5 total income in 2023 amounted to £45,941 12022 - £43,986), of which £4B,361 was investment income12022- £42.8591 and £2,52012022 - £1,000) of donations gratefully received. Total expenditure in 2023 was £50,68612022 - £41,123), all from the general fund. The Charity reported a deficit of £4.74512022 - surplus of £2,863) due to the increased number of grants made which. after including the general fund brou8ht forward of £20,594, resulted in £15,849 being carried fornard. Investment and endowment funds The unrealised value of the COIF Charities Ethical Investment Fund at 31 December 2023 was £1,509,326 12022 - £1,372,283). There are no related party transactions, no fundraising is undertaken, and no trustee received any form of benefit from the charity. EXETER DISPENSARY CHARITY CIO Charity registration number 1189534 TRUSTEES. REPORT Elertion of Trustees When a vacancy occurs, it shall be notified to the Trvstees at least four weeks before the next meeting. Trustees should be invited to nominate an appropriate person and provide a short CV in writing to the Secretary at least four weeks prior to the next meeting. The Secretary will circulate the nominations with the Agenda. Any appointments Should be determined at the next meeting. If there 15 one nomination acceptable to the Trustees that person shall be elected at that meeting. If there is more than one nomination there should be 3 Vote at the meeting and the preferred candidate shall be elected at that meeting. The elected candidate shall be invited to attend the next meeting. Reserves Pollcy It IS the policy of the charity to maintain a balance on free re5erve5 that equates to three months unrestricted payments. All the funds of the charity are available to spend apart from the Permanent Endowment fund. To maintain the income of the charity funds have been designated into the Unrestricted Investment and Expendable Endowment funds. These funds are available to spend but the trustees wish to keep these amounts invested to generate income. Cash flow is managed to take account of the income received from the investment5 of approximately £IO.000 per quarter. At the year end the balance of the free reserves was £15,849. Acknowledgements The Trustees wish to thank the staff of CCL4 Limited for their continuing help and advice on the investments in the COIF Charities Ethical Investment Fund. They wish particularly to thank our Secretary Carol Cathcart and the Applications Secretary Dr David Bostock for all the voluntary time and hard work they do to ensure that the Charity meets its objectives, which is gratefully appreciated by the individuals and organisations which it serves in Exeter. Trustees. Responslbllity in respect of the Accounts The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its financial activities for that period. In preparing those statements, the Trustees are required to.. select Sultable accounting policies and then apply them consistently: make judgements and estimates that are reasonable and prudent; prepare the statements on the going concern basis unless it is inappropriate to presume that Charity will continue in bu5ine55. The Trustee5 are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Chairman Date INDEPENDENT EXAMINEWS REPORT TO THE TRUSTEES OF Ex￿ER D15PENSARY CHARITY CIO {Charlty reglslratlon number 11895341 I report to the trustees on my examination of the accounts of Exeter Dispensary Charity for the year ended 31 December 2023 which are set out on pages 6 to 9. Responslbllltle5 and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examinatlon of the Trustee's account5 carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commlsslon under section 14515llbl of the 2011 Act. Independent e¥amlnerf5 statement I have completed my examination. I confirm that no material matter5 have come to my attention In connection with the examinatlon glving me cause to believe that in any material resped.. 111 accountln8 records were not kept in respect of the Trust as required by section 130 of the Act,. or 121 the accounts do not accord with those records,. or 131 the accounts do not comply with the applicable requirements concerning the form and ¢ontent of accounts set out in the Charities IAccount5 and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and fair view, whlch 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 understandinB of the accounts to be reathed. S Truran FCCA FCA 8ush & Co Llm5ted Chartered Accountants 2 Barnfleld Crescent Exeter EXI IQT •p - r LU t>0 Ill- l)￿ ￿ i(nv) ¢J c4 IB Ssl i I