## **Trustees’ Annual Report for the period**
## **From 1[st] September 2024 Period start date To 31[st] August 2025 Period end date**
## **Charity name: The Vernon Charitable Foundation**
## **Charity registration number: 1204548**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The objects of the CIO are to advance
charitable purposes, as pertains to the laws
of England and Wales, in particular, but not
limited to, the prevention or relief of poverty
and to the development of the capacity and
skills of the members of socially and
economically disadvantaged communities
within the wider region of Stockport,
Cheshire & Greater Manchester through
the provision of grants to registered
charities within this region who are focused
on furthering charitable purposes for the
public benefit.|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|Through grants, the Foundation will support
local charities providing public benefit in
Stockport, Cheshire and Greater
Manchester, focused on the prevention and
relief of poverty and community
development.|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees have had due regard to the
guidance issued by the Charity
Commission on public benefit.
The charity trustees manage the affairs of
the CIO and may for that purpose exercise
all the powers of the CIO. It is the duty of
each charity trustee:
(a) to exercise his or her powers and to
perform his or her functions in his or her
capacity as a trustee of the CIO in the way
he or she decides in good faith would be
most likely to further the purposes of the
CIO; and
(b) to exercise, in the performance of those
functions, such care and skill as is
reasonable in the circumstances having|
regard in particular to: (i) any special knowledge or experience that he or she has or holds himself or herself out as having; and, The suggested provisions in (b) reflect the law and (c) is based on good practice. Note that there are offences under the General Regulations concerning legally disqualified individuals acting as trustees.
**Additional information (optional)** You may choose to include further statements where relevant about:
||SORP reference||
|---|---|---|
|Policy on grant making|Para 1.38|The grant making policy is available on
request|
|Policy on social investment
including program related
investment|Para 1.38||
|Contribution made by
volunteers|Para 1.38||
|Other|||
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|Vernon Building Society was founded on
March 27, 1924. To mark the centenary
milestone, the Vernon has announced the
creation of the Vernon Charitable
Foundation to support local charities in
Stockport, Cheshire and Greater
Manchester, focused on the prevention and
relief of poverty and community
development.
The Foundation has supported 15 charities
by providing £42,601.63 of grants during
this accounting period. Covering areas
from Cheshire to Greater Manchester.|
**Additional information (optional)** You may choose to include further statements where relevant about:
|
Achievements against
objectives set|
Para 1.41||
|---|---|---|
|Performance of fundraising
activities against objectives
set|Para 1.41||
|Investment performance
against objectives|Para 1.41||
|Other|||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|The Charity’s financial position is strong.
Accounts have been prepared showing
income and expenditure.|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The Charity does not operate a formal
policy on reserves but at all times will
maintain sufficient reserves to meet
committed expenditure and donations
made by the trust.|
|Amount of reserves held|Para 1.22|£117,969.88|
|Reasons for holding zero
reserves|Para 1.22|n/a|
|Details of fund materially in
deficit|Para 1.24|There are no funds in deficit.|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|n/a|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|
The charity’s principal
sources of funds (including
any fundraising)|
Para 1.47|
Principal source of funds are from dormant
accounts, via the Reclaim Fund|
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|Constitution|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Charitable Incorporated Organisation (CIO)|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|No individual may be appointed as a charity
trustee of the CIO:
•
if he or she is under the age of 16
years; or
•
if he or she would automatically
cease to hold office under the provisions of
the constitution (is ineligible to be a
trustee).
No one is entitled to act as a charity trustee
whether on appointment or on any re-
appointment until he or she has expressly
acknowledged, in whatever way the charity
trustees decide, his or her acceptance of
the office of charity trustee.
At least one of the trustees of the CIO must
be 18 years of age or over. If there is no
trustee aged at least 18 years, the
remaining trustees may only act to call a
meeting of the charity trustees or appoint a
new charity trustee.
There must be at least three charity
trustees. If the number falls below this
minimum, the remaining trustee or trustees
may act only to call a meeting of the charity
trustees or appoint a new charity trustee.
The maximum length of time any trustee
may serve is 9 years.
Apart from the first charity trustees, every
appointed trustee must be appointed by a
resolution passed at a properly convened
meeting of the charity trustees.
In selecting individuals for appointment as
appointed charity trustees, the charity
trustees must have regard to the skills,
knowledge and experience needed for the
effective administration of the CIO.|
## **Additional information (optional)** You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51
network with which the charity works Relationship with any related Para 1.51 parties Other
## **Reference and Administrative details**
|Charity name|The Vernon Charitable Foundation|
|---|---|
|Other name the charity uses|n/a|
|Registered charity number|1204548|
|Charity’s principal address|Vernon Building Society
17-19 St. Petersgate
Stockport
SK1 1HF|
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## **Names of the charity trustees who manage the charity**
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||Ian Robert Wilson|n/a|29/08/2023|n/a|
||TraceyWright|n/a|29/08/2023|n/a|
||Andrew Smith|n/a|29/08/2023|n/a|
||Lord David
Goddard|Chair|15/12/2023|n/a|
||Susan Holden
O’Brien|n/a|15/12/2023|n/a|
||Paul Brearley|n/a|15/12/2023|n/a|
||Mark Lee|n/a|15/12/2023|n/a|
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## – Corporate trustees names of the directors at the date the report was approved
## **Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
Description of the assets n/a held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
**Type of Name Address adviser**
## **Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
**n/a**
## **Other optional information**
## **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 (eg Secretary, Chair, etc)**
**Date**