Exeter Dispensary Charity CIO (Charity registration number- 11895341 Annual Report and Financial Statements For the Year Ended 31 December 2024
EXETER DISPENSARY CHARITY CIO Charity registration number 1189534 ANNUAL REPORT and FINANCIAL STATEMENTS for YEAR ENDED 31 DECEMBER 2024 CONTENTS pa8e Legal and administrative information Trustees, annual report Independent examiner's report Statement of financial actNities 8alance sheet Notes to the financial statement5
EXETER DISPENSARY CHARITY CIO Chartty registration number 1189534 LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31" DECEMBER 2024 CONSTITUTION The CIO is governed under a Charty Commission Scheme dated 18 May 2020. AODRE5S 2 Wessex Close Topsham Exeter EX3 OLU TRUSTEES Mr A McNicol Ms J Wilson Mrs J A Charle5 Ms J Hickey Cllr A Leadbetter Mr M McGahey Dr V Rosser Mr M Stott (Chairmanl (Vice Chairman) (Treasurer) Trustees serve for a period of three year5- they can then be reappointed for a further term of ihree 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 reappointrnent dates of the charity trustees have been sta88ered io enable a phased pro8ramme of their retirements or reappointments. Hon Appllcatlon$ Secretary Dr Davld Bostock Sollcltors Tozers LLP Broadwalk House Southernhay East Exeter EXI IUA Bankers CAF Bank Limited 25 Kings Hill Avenue West Mallin8 Kent ME19 4JQ Independent Examiner Sunny Truran Stfeets 8ush Limited Chartered Accountants 2 Barnfield Crescent Exeter EXI IQT
EXETER 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 310ecember 2024. 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 Recomrnended Practice- Accounting and Reporting by Charities IFRS 1021 issued in 2015 and the 2008 regulations. Charitws oblects The Charity is governed by a Scheme dated 18 May 2020. Its charitable objects are the relief of suffering among sick or disabled people of all a8es who are in financial need and live within the boundaries of the City of Exeter, makin8 8rants or donations to other charities based in Devon and having similar aims and objettives 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 meelin8 the criteria for or towards the cost of medical aids and appliances not provided from public funds, chiropody. heating, beds/beddin8. warm clothing and footwear, floor covering, domestic appliances and such other necessities as the Trustees may from time to time deem appropriate. Making 8rants or donations to other charitie5 havin8 similar objects which provide appliances and medical and ancillary care and assistance for the Sick and disabled in Exeter. Supportlve grants to Indlviduals 230 8rants12023 215 grontsl amounting to £50.45712023 £43.0221 were advanced to Indivlduals during the year. The increase in number of grants awarded reflects the increased demand forthe chaf Ity's services. The cost of fulfillin8 the 8rants has also been impacted by inflation on the cost of goods. The grants have benefitted a wide range of people with physical and mental health problems, whose livin8 conditions have not been easy for them. and whose income has not kept pace with the rise in the everyday cost of livin8. The needs we have mel have varied from prartical household items, furniture, carpets, help with utility costs and basic living expenses, and they are often against è background of debt, and sometimes violence or broken relationships, as well as serious illne55 or disability. Helpin8 children ha5 been an important part of our grant giving. Grants to other charltles During 2024. no grants12023 - 6 grontsi were paid to other tharities amounting to £nil12023- £6.516J see page 6. General fvnd The Charity's total income in 2024 amounted to £52,728 12023 - £45,941), of which £44,364 was investment income {2023 - £43,361) and £6,51JJ12023 - £2,520) of donations gratefully received from Norman Family Trust and David Gibbons Trust. Total expenditure in 2024 was E51.77412023- £50,686), all from the 8eneral fund. The Charity reported a surplus of £95412023 - deficit of £4, 7451 which. after includin8 the general fund brought forward of £15,849, resulted in £16.803 being carried fovard. Investment and endowment fvnd5 The unrealised value of the COIF Charities Ethical Investment Fund at 310ecember 2024 was £1,550,745 12023- £1,509,3261.
EXETER DISPENSARY CHARITY CIO Charity registration number 1189534 TRUSTEES, REPORT Icontinuedl There are no related party transartions. no fundraising is undertaken, and no trustee received any form of benefit from the charity. Elertion of Tru5tee5 When a vacancy occurs, it shall be notified to the Trustees at least four weeks before the next meeting. TfUStees 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 circulète the nominations with the Agenda. Any appointments should be determined at the next meeting. If there is one nomination acceptable to the Trustees that person shall be elected at that meeting. If there is more than one nomination there should be a vote at the meeting and the Preferred candidate shall be elected at that meetin8. The elected candidate shall be invited to attend the next meetin8. Reserves Pollry It 15 the policy of the charity to maintain a balance on free reserves 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 fvnds. 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 investments of approximately £11,000 per quarter. At the year end the balance of the free reserves lexcluding endowment fvnds) was £16,803. Acknowledgements The Trustees wlsh to thank the staff of CCLA Limited for their continuing help and advice on the investments in the COIF Chartties Ethical Investment Fund. They wish particularly to thank our Secretary Carol Cathcart (now retired) and the Applications Secretary Dr David Bostock for all the voluntary time and hard work they do to ensure that the Charsty meets its objettive5, which is 8ratefully appreciate(I by the individuals and organisations which it serves in Exeter. Trustees, Responslblllty In respert 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 suitable accounting policies and then apply them consistently; make jud8ements an(i 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 business. The Trustees 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 statement5 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 L¢L)
INDEPENOENT EXAMINE5 REPORT TO THE TRUSTEES OF EXETER DISPENSARY cHARy ao (Charity regi5trntion number 11895341 I report to the trustees on my examination of the accounts of Exeter Dispensary Charity for the year ended 31 December 2024 which are set out on pages 6 to 9. Responsibilities and basis 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 Art 20111.the Act'l. I report in respect of my examination of the Trustee's accounts carried out under sertion 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charitv Commission under section 1451511b} of the 2011 Art. Independent examlnerfs st•tsment I have completed My examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 111 accounting record5 were not kept in respect of the Trust as required by settion 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 content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 8Ne a Irue and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. S Truran FCCA FCA Streets Bush Limlted Chartered Accountants 2 Barnfield Crescent Exeter EXI IQT 16 Flcffjck 1025
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