Charity registration number: 202349
Grateful Society
Annual report and financial statements For the year ended 31 December 2023
Grateful Society
Contents
| Administrative information | 1 - 2 |
|---|---|
| President's report | 3 |
| Trustees' report | 4 - 7 |
| Independent Examiner's report | 8 |
| Statement of the financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 14 |
Grateful Society
Administrative information Year ended 31 December 2023
Registered charity number: 202349
President
Simon Beswick
President elect
Christopher Ladkin
Secretary
Richard Bretton
Treasurer
Robert Drewett DL
Administrator
Rachel Nash
Principal office
3 Temple Quay Temple Back East Bristol BS1 6DZ
Trustees
Robert Drewett DL Susan Darwall-Smith DL (chairman) Nicholas Hutchen Professor Bhupinder Sandhu OBE Christopher Moorsom OBE Simon Beswick
1
Grateful Society
Administrative information (continued) Year ended 31 December 2023
Independent examiner
JWB Corporate Ltd 22 Mulberry Avenue Portishead North Somerset BS20 7LG
Bank
CAF Bank Limited Kings Hill West Malling Kent ME19 4TA
Investment managers
Evelyn Partners Portwall Place Portwall Lane Bristol, BS1 6NA
2
Grateful Society
President's report Year ended 31 December 2023
The Grateful Society is a long-established Bristol based charity that aims to improve the physical and mental well-being of older vulnerable people in Bristol and the surrounding areas to enhance their quality of life and alleviate loneliness and social isolation. It does so by raising funds through an annual appeal and providing grants from the donations received to largely volunteer led, local organisations supporting the elderly and less fortunate in society.
Since the pandemic the levels of loneliness have been on the increase, particularly in the South West, and have risen further during the current period of exceptional economic hardship. This is concerning as frequent and sustained loneliness is also linked to heart disease, strokes and dementia. In addition to the need to reach the increased number of elderly struggling with loneliness and social isolation, the organisations supported by The Grateful Society to address their needs are also challenged by the massive energy, food, transport and other cost increases will all have endured over the past eighteen months or so. As a result, the demand for funding from The Grateful Society and similar charities has risen significantly and is likely to continue to rise further.
The Grateful Society supports around 25 organisations that collectively address the needs of over large numbers of older and, often, vulnerable people in and around Bristol. Brief details on each of them can be found on The Grateful Society's website and are listed in the Trustees report. We actively seek to increase our impact and the diversity of the groups we support and in the past year we have been able to fund an additional three organisations due to the generous response to our last appeal. For many of the elderly and vulnerable, the various activities funded by The Grateful Society through our partner organisations are often the highlight of their week and, for some, it is the only day in the week they leave their home. Over the past year I have seen first-hand the joy and pleasure that so many experience in these clubs and activities and their warm and sincere appreciation for all that is provided for them with funding from The Grateful Society. I have also been impressed by the commitment of the volunteers who significantly multiply the impact of our support.
It has been a privilege to serve as President of The Grateful Society. I would like to thank everyone who so generously supported my Annual Appeal and helped in other ways. I would also like to thank all the members of groups/charities I have had the pleasure of working with and my co-Trustees and past Presidents for their help and guidance. Finally, I would like to wish my successor, Chris Ladkin, every success during his year as President.
Simon Beswick
Simon Beswick (Apr 23, 2024, 11:59pm)
………………………………………………. Simon Beswick President 2023
Dated: 24 Apr 2024
3
Grateful Society
Trustees' report
Year ended 31 December 2023
The Trustees present their annual report and financial statements of the charity for the year ending 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Statement of Recommended Practice - Accounting and Reporting by Charities 2019 (FRS 102) (‘SORP 2019’).
Structure, governance and management
Grateful Society was founded in 1758 and is registered under the Charities Act 2011, charity number 202349. The Society operates under a Constitution, which was updated by a Charity Commission Scheme in 2016 and which states that the objects of the Society are both the relief of financial hardship, sickness and ill health amongst elderly people in Bristol, Bath and North East Somerset, North Somerset and South Gloucestershire and also the advancement of health, the relief of poverty and the advancement of education in this area.
The Society fulfils its objectives by raising funds from the public by an annual collection, from its investment income, and by using accumulated reserves from past annual collections.
Following changes in 2017 to the Rules of the Society, the Trustees of the Society are now made up of a Board of seven members; the Chairman, President, immediate past President, Honorary Secretary and Treasurer and two other past Presidents. The President-Elect is appointed annually from outside the Society to succeed the President and is in attendance at Trustee meetings.
The Trustees meet four times a year to agree the broad strategy and areas of activity of the Society, to approve the accounts, to appoint new Trustees and the President Elect, set the reserves policy and review risk management. The Board also approve grant and administrative expenditure.
All Trustees give of their time freely and no Trustee remuneration is paid.
Risk management
The charity Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.
Objectives and activities for the public benefit
The objectives of the Society are both the relief of financial hardship, sickness and ill health amongst elderly people in Bristol, Bath and North East Somerset, North Somerset and South Gloucestershire and also the advancement of health, the relief of poverty and the advancement of education in this area. This is delivered by paying annuities and other benefits to 4 annuitants (2022: 4) and in recent years providing support by way of grants, to an increasing number of day centres. During 2023 annuities of £1,840 and grants of £117,880 were paid (2022: £1,840 and £95,540).
4
Grateful Society
Trustees' report (continued) Year ended 31 December 2023
Grant making policy
The Trust has extended its grant making in pursuance of its objects by supporting care homes and day centres in the Bristol area. Grants are awarded to fund improvements to facilities, enhance the programme of activities at day centres and widen the access to these benefits for the elderly of the local community. The beneficiaries of our grant making programme in 2023 were:
Alive Activities
Bristol Music Trust Bristol Somali Resource Centre BS3 Community Development Association Cathedral Clifton Chinese Community Wellbeing Friends Of Eastville Park Life Cycle UK Marmalade Trust Nailsea Memory Café Music In Hospitals & Care Nailsea Stroke Club Nordic Walking Old Patchway Pensioners Club Pakistani Welfare Association PCC Holy Trinity Pill Lunch Club Rolls Royce Retirement Royal West Of England Association St James Priory Project The Harbour Grateful The Park Community Centre The Stroke Association Wellspring Settlement
Financial review
The Trust’s work is entirely reliant on income from its Annual Appeal and investment returns from its reserves. Income for the year totalled £109,652 (2022: £127,606), comprising an annual appeal of £101,703 and investment income of £7,949.
Expenditure on charitable activities amounted to £137,308 (2022: £106,000) and the deficit for the year before investment gains was £29,319 (2022: surplus of £19,108). At the end of the year, total funds carried forward were £402,329, a decrease of £18,992 from the previous year.
5
Grateful Society
Trustees' report (continued) Year ended 31 December 2023
Reserves policy
The Society’s policy is to distribute its charitable funds, subject to it retaining a reserve to protect its ability to continue ongoing annuities and other commitments in the event of a fall-off in the annual collection, which takes place just before the year end.
Target reserves at 31 December should amount to two to three years’ normal charitable expenditure (of approximately £110,000 per annum), equating to £220,000 to £330,000. The surplus above this figure of £72,000 will be spent in additional donations over the next two to three years. At 31 December 2023 reserves, including £19,000 of an unspent legacy from 2018, amounted to £402,329. This proportion of reserves held in cash should be between six and eighteen months’ normal charitable expenditure, equating, at current expenditure levels, to £50,000 to £150,000. At 31 December 2023 cash, including £19,000 of the unspent legacy from 2018, amounted to £179,226.
Investment policy and performance
The Society’s investment policy is that the balance of the reserves not held as cash should be invested in medium risk investment portfolio of equities and fixed income stocks with a view to the real value of the portfolio being maintained and enhanced over the long term.
Plans for the future
The Society has undertaken a review of its charitable activities, which has led to its focusing upon donations to organisations and projects which combat loneliness in old age. It continues to make gifts and grants to the elderly.
Statement of Trustees’ responsibilities
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees 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 the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charities SORP (FRS102);
-
Make judgements and estimates that are reasonable and prudent;
-
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
6
Grateful Society
Trustees' report (continued) Year ended 31 December 2023
Statement of Trustees’ responsibilities (continued)
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, applicable accounting regulations 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.
24 Apr 2024
Approved by the Trustees on ….................................. and signed on their behalf by:
Simon Beswick
……………………………………………….Simon Beswick (Apr 23, 2024, 11:59pm) Simon Beswick President 2023
24 Apr 2024
Dated:
7
Grateful Society
Independent examination Year ended 31 December 2023
I report to the Trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on page 4.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts 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 Commission under section 145(5)(b) of the Act.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An 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 or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.
-
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 give a ‘true 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 matters 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.
Jacob Bray
……………………………………………….
Jacob Bray (Apr 24, 2024, 7:54am) Jacob Bray, FCA JWB Corporate Ltd 22 Mulberry Avenue Portishead North Somerset BS20 7LG
Dated:
24 Apr 2024
8
Grateful Society
Statement of financial activities Year ended 31 December 2023
| Income from Donations and legacies Annual appeal Legacy Investments Interest Dividends Total incoming resources Expenditure on Charitable activities Raising funds Total resources expended Net incoming/(outgoing) funds from operations before investment gains Net gains on investments Net income Funds brought forward 1 January 2023 Funds carried forward 31 December 2023 |
2023 £ Unrestricted 101,703 - 2,651 5,298 109,652 137,308 1,664 138,972 (29,319) 10,327 (18,992) 421,321 402,329 |
2022 £ Unrestricted 116,677 5,823 805 4,301 127,606 106,000 2,498 108,498 19,108 (29,093) (9,985) 431,306 421,321 |
|---|---|---|
Signed on behalf of the Committee
Simon Beswick
………………………………………….Simon Beswick (Apr 23, 2024, 11:59pm) Simon Beswick
Dated: 24 Apr 2024
9
Grateful Society
Balance sheet Year ended 31 December 2023
----- Start of picture text -----
2023 2022
£ £
Note
Fixed assets
Investments 3 211,862 197,360
Total fixed assets 211,862 197,360
Current assets
Debtors and prepayments 4 18,229 14,761
Cash at bank and on deposit 179,226 212,479
Total current assets 197,455 227,240
Creditors: amounts falling due within one year 5 (6,988) (3,279)
Net current assets 190,467 223,961
Total assets less current liabilities 402,329 421,321
Total unrestricted funds 402,329 421,321
----- End of picture text -----
10
Notes to the financial statements Year ended 31 December 2023
Grateful Society
1 Accounting policies
(a) Accounting convention and basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from January 2022.
The Charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, with the exception of investments which are held at market value.
(b) Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
(c) Income
Investment income and gift aid donations are included in the financial statements on an accruals basis and include any tax recoverable. Other income is shown gross.
(d) Voluntary income
Cash donations, gifts and legacies are included in full in the income and expenditure account as they are received. Cash collected during the annual collection is included in the income and expenditure account before deducting the expenditure incurred in organising and administering the appeal. Donations under deed of covenant or gift aid plus the associated income tax recovery are recognised as income when the donation is received. The charity benefits from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
(e) Resources expended
Expenditure is recorded on the accruals basis. The cost of irrecoverables value added tax is included with the expense item it relates.
Fund raising costs comprise those costs directly attributable to managing the investment portfolio and raising investment income.
11
Notes to the financial statements (continued) Year ended 31 December 2023
Grateful Society
Support costs represent expenditure in the general running of the charity; these costs are fully attributable to charitable activities.
Governance costs are directly attributable to the management of the charity's assets, organisational administration and compliance with the constitutional requirements.
(f) Granting making policy
The Society has extended its grant making in pursuance of its objects by supporting care homes and day centres in the Bristol area. Grants are awarded to fund improvements to facilities, enhance the programme of activities at day centres and widen the access to these benefits for the elderly of the local community.
(g) Investments
Stocks and shares quoted on a recognised stock exchange are included in the balance sheet at their mid-market value at the year end. The difference between market and original cost of the investments are shown as unrealised investment gains or losses.
(h) Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all its financial instruments. Other than where specifically stated, all of the charity's financial instruments are classed as basic financial instruments.
Financial assets are recognised in the charity's statement of financial position when the charity becomes party to the contractual provisions of the instrument.
Financial assets are classified into specified categories. The classification depends on the nature and purpose of the financial assets and is determined at the time of recognition.
Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Other financial assets classified as 'fair value through the statement of financial activities' are measured at fair value.
12
Notes to the financial statements (continued) Year ended 31 December 2023
Grateful Society
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Other financial liabilities classified as 'fair value through the statement of financial activities' are measured at fair value.
(i) Funds structure
The charity holds unrestricted funds only, which the Trustees are free to use for any purpose in the furtherance of the charitable objects. Unrestricted funds include designated funds where the Trustsees, at their discretion, have created a fund or a specific purpose.
2 Resources expended
| Charitable activities Payment to annuitants Grants Total |
Grants and Support 2023 Annuities Costs £ 1,840 3,518 5,358 117,880 14,070 131,950 119,720 17,588 137,308 |
2022 £ 3,564 102,436 106,000 |
|---|---|---|
Included within support costs are governance costs of £4,848. Total support costs in 2022 were £8,620 (including governance costs of £2,580).
3 Investments (including cash)
| Market value at 1 January Additions at cost Disposals at market value Realised gains Unrealised gains / (losses) Market value at 31 December Cost at 31 December |
2023 £ 197,360 20,011 (13,903) 203,468 5,007 3,388 211,863 189,757 |
2022 £ 183,593 62,010 (22,128) 223,475 6,969 (33,084) 197,360 180,036 |
|---|---|---|
All investments held are listed.
13
Grateful Society
Notes to the financial statements (continued) Year ended 31 December 2023
----- Start of picture text -----
4 Debtors: Amounts falling due within one year 2023 2022
£ £
Other debtors 18,229 14,761
5 Creditors: Amounts falling due within one year 2023 2022
£ £
Accruals 6,988 3,279
6 Financial instruments 2023 2022
£ £
Carrying amount of financial assets held at amortised cost 18,229 14,761
Carrying amount of financial liabilities held at amortised cost 6,988 3,279
7 Unrestricted funds 2023 2022
£ £
At 1 January 2023 421,321 431,306
Net incoming / (outgoing) funds (29,319) 19,108
Movement in investment valuation 10,327 (29,093)
At 31 December 2023 402,329 421,321
8 Reconciliation of net income and cash movements 2023 2022
£ £
Net income / (deficit) before investment gains and losses (29,319) 19,109
Realised increase in investments (4,176) (42,860)
Decrease in debtors (3,467) (9,114)
Increase / (decrease) in creditors 3,709 (1,701)
Decrease in cash (33,253) (34,566)
----- End of picture text -----
14
Issuer JWB Corporate Document generated Mon, 22nd Apr 2024 6:58:53 UTC Document fingerprint ab8321f69234b518fccd72ed4f4dbd97
Parties involved with this document
Document processed Party + Fingerprint Tue, 23rd Apr 2024 23:59:22 UTC Simon Beswick - Signer (ce3544da5cb8c9ee0b772ac0e3127d76) Wed, 24th Apr 2024 7:54:39 UTC Jacob Bray - Signer (5a32886bb95a54ed91f35df31208a1d0)
Audit history log
| Date | Action |
|---|---|
| Wed, 24th Apr 2024 7:54:40 UTC | Jacob Bray viewed the envelope (31.94.30.89) |
| Wed, 24th Apr 2024 7:54:40 UTC | This envelope has been signed by all parties (31.94.30.89) |
| Wed, 24th Apr 2024 7:54:40 UTC | Jacob Bray signed the envelope (31.94.30.89) |
| Wed, 24th Apr 2024 7:54:26 UTC | Jacob Bray viewed the envelope (31.94.30.89) |
| Wed, 24th Apr 2024 7:54:20 UTC | Jacob Bray opened the document email. (104.28.89.69) |
| Wed, 24th Apr 2024 7:00:03 UTC | Document emailed to jacob@jwbcorporate.com (13.40.64.182) |
| Wed, 24th Apr 2024 7:00:02 UTC | Sent Jacob Bray a reminder to sign the document. () |
| Wed, 24th Apr 2024 0:02:50 UTC | Simon Beswick opened the document email. (124.170.215.14) |
| Wed, 24th Apr 2024 0:01:06 UTC | Simon Beswick opened the document email. (124.170.215.14) |
| Wed, 24th Apr 2024 0:00:20 UTC | Simon Beswick opened the document email. (124.170.215.14) |
| Tue, 23rd Apr 2024 23:59:43 UTC | Simon Beswick opened the document email. (124.170.215.14) |
| Tue, 23rd Apr 2024 23:59:23 UTC | Simon Beswick viewed the envelope (165.225.233.71) |
| Tue, 23rd Apr 2024 23:59:23 UTC | Document emailed to jacob@jwbcorporate.com (13.42.27.59) |
| Tue, 23rd Apr 2024 23:59:22 UTC | Sent the envelope to Jacob Bray (jacob@jwbcorporate.com) for signing |
| (165.225.233.71) | |
| Tue, 23rd Apr 2024 23:59:22 UTC | Simon Beswick signed the envelope (165.225.233.71) |
| Tue, 23rd Apr 2024 23:56:53 UTC | Simon Beswick viewed the envelope (165.225.233.71) |
| Tue, 23rd Apr 2024 23:56:34 UTC | Simon Beswick opened the document email. (124.170.215.14) |
| Tue, 23rd Apr 2024 8:07:29 UTC | Simon Beswick opened the document email. (111.65.68.176) |
| Tue, 23rd Apr 2024 8:07:29 UTC | Simon Beswick opened the document email. (111.65.68.176) |
| Tue, 23rd Apr 2024 6:59:04 UTC | Document emailed to simonbeswick8@outlook.com (18.134.249.251) |
Tue, 23rd Apr 2024 23:59:22 UTC Tue, 23rd Apr 2024 23:56:53 UTC Tue, 23rd Apr 2024 23:56:34 UTC Tue, 23rd Apr 2024 8:07:29 UTC Tue, 23rd Apr 2024 8:07:29 UTC Tue, 23rd Apr 2024 6:59:04 UTC
Tue, 23rd Apr 2024 6:59:03 UTC Sent Simon Beswick a reminder to sign the document. () Mon, 22nd Apr 2024 7:49:54 UTC Simon Beswick opened the document email. (124.170.215.14) Mon, 22nd Apr 2024 7:49:54 UTC Simon Beswick opened the document email. (124.170.215.14) Mon, 22nd Apr 2024 7:05:29 UTC Document emailed to simonbeswick8@outlook.com (18.130.127.108) Mon, 22nd Apr 2024 7:05:29 UTC Sent the envelope to Simon Beswick (simonbeswick8@outlook.com) for signing (45.89.242.232) Mon, 22nd Apr 2024 7:03:05 UTC Jacob Bray has been assigned to this envelope (45.89.242.232) Mon, 22nd Apr 2024 7:03:05 UTC Simon Beswick has been assigned to this envelope (45.89.242.232) Mon, 22nd Apr 2024 6:59:19 UTC Document generated with fingerprint 415d6bd222fd41ed7dc0f29d1c5f17a8 (45.89.242.232) Mon, 22nd Apr 2024 6:59:11 UTC Document generated with fingerprint ab8321f69234b518fccd72ed4f4dbd97 (45.89.242.232) Mon, 22nd Apr 2024 6:58:53 UTC Envelope generated by Jacob Bray (45.89.242.232)