## **Cambridge Aid** 

**formerly Cambridge Central Aid Society** 

## **Financial Statements** 

**for the year ended 31 December 2023** 

**144th Annual Report** 



**Cambridge Aid Reference and Administrative Information** 

## **Trustees** 

The Mayor (President ex officio) Mr J Limmer (Chair) Mrs R Norridge (Honorary Secretary) Mr P Ray BEM (Honorary Treasurer) Dr A Stevenson (Honorary Vice-Treasurer) Mrs S Gower Isaac (representing Cambridge & District Citizens Advice) Mrs L Allin Ms C Bearryman Ms W Chiang Ms S Gilbey Ms S Gregory-Jones Mr K Smith Mrs R Winter 

## **Registered Office** 

66 Devonshire Road Cambridge CB1 2BL 

**Registered Charity Number** 204327 

## **Independent Examiner** 

P Donert Mandeville House Burton End West Wickham Cambridgeshire CB21 4SD 

**Bankers** CAF Bank Ltd Kings Hill West Malling Kent ME19 4TA 

## **Website** 

www.cambridgeaid.org 

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**Cambridge Aid** 

## **Trustees’ Report** 

The trustees are pleased to present their annual report on the affairs of the Charity, including the Receipts and Payments Accounts and the Independent Examiner’s report for the year ended 31 December 2023. 

## **Structure, Governance and Management** 

The Charity dates to 1880, when its forerunner the Cambridge Charity Organisation Society was established. In 2019 the Charity changed its name from Cambridge Central Aid Society to Cambridge Aid. 

The trustees endeavour to appoint new trustees who will provide valuable and practical skills for the Charity. The following have been trustees during the financial year: 

The Mayor (President ex officio) Mrs L Allin Mr J Limmer (Chair) Ms C Bearryman Mrs R Norridge (Hon Secretary) Ms W Chiang Mr P Ray BEM (Hon Treasurer) Ms S Gilbey Dr A Stevenson (Hon Vice-Treasurer) Ms S Gregory-Jones Mrs R Talbot (representing Cambridge & District Citizens Mr K Smith Advice to 16 June 2023) Mrs R Winter Mrs S Gower Isaac (representing Cambridge & District Citizens Advice from 11 August 2023) 

On 29 September 2021 Trustees adopted a revised constitution. Formerly the Charity had been governed by resolution. This being part of a process of modernising the governance of the Charity. 

## _Objects_ 

The main objects are the improvement of the conditions of the people of the city of Cambridge by such means as 1 conducting enquiries and studies that will lead to social improvement. 

2 social and charitable work; and 3 training suitable persons for charitable and social work 

## _Membership_ 

Every person who contributes £100 or more or at least 20 hours of their time in a calendar year shall be a member of Cambridge Aid for that calendar year and the successive calendar year, although Trustees do have a limited power to refuse membership, 

## _General Meeting_ 

Annual General Meetings must be held at intervals of no more than 15 months, on notice of no less than 14 working days. The Trustees may call a special general meeting at any time and are required to do so at the request of 10 members or 10% of the membership, whichever is the greater. 

## _Officers and Trustees_ 

Cambridge Aid and its property is managed and administered by a committee comprising the elected officers (Chair, Vice Chair, Secretary, Treasurer and Vice-Treasurer) and other committee members, who together act as the trustees of Cambridge Aid. Trustees may be elected in general meeting or appointed by the existing trustees. Trustees automatically retire following an annual general meeting unless re-elected at that meeting. 

## _The Public Benefit_ 

The Charity’s Objectives fall within the classification of “The Prevention and Relief of Poverty.” The Trustees confirm that their activities are fully consistent with the Objectives and the Charity Commission’s guidance on public benefit has been borne in mind throughout the year. 

Most benefits are provided to people who lack necessities (including furniture, beds, carpets, curtains, white goods (including cookers and washing machines) and are given the resources to obtain them. The Charity also helps fund holidays for families and children in need and helps pay utility bills or the cost of debt relief orders for those burdened with debt. The Charity also provides grants for training or necessary clothing, equipment, or identification documentation to improve people’s prospects for employment. 

The benefits are provided to people referred to the Charity by organisations (including Citizens Advice, Social Services and charities helping the homeless and those with mental health difficulties) that are helping resolve or alleviate the underlying causes of their social or financial distress. 

Beneficiaries of the charity are restricted to residents of Cambridge and its environs. The Trustees consider this a reasonable restriction given the Charity’s history, size, the location of its donors, and the need to build and sustain close relationships with referring organisations. 

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**Cambridge Aid Trustees’ Report (continued)** 

## **Achievements and performance** 

## _**Honorary Secretary’s Report**_ 

The full effects of the cost-of-living crisis have been felt in 2023, and this has led to another record-breaking year of grant applications and grant giving, and a busy time for our trustees in both raising funds and processing grant applications. 

## _Meetings_ 

Trustees continued to meet once a month on a Monday evening, with a poll in April finding this still to be the most suitable evening for our current team of trustees and volunteers. Most meetings were hybrid, with attendees in person and online via MS Teams. Meetings alternated between Rathbones (courtesy of Joel Limmer) and Birketts (courtesy of Rachel Winter), with the occasional online-only meeting. 

## _Subcommittees._ 

Our four subcommittees cover the areas of governance/management, fundraising and marketing, application and grant-giving processes, and investments. Subcommittees met periodically throughout the year and took turns to report to the monthly trustee meeting. 

## • _Governance/Management_ 

In March, the Governance/Management Subcommittee created and circulated lists of responsibilities for each subcommittee. These were then discussed in each subcommittee as they considered their remits. A role description for the new post of Vice-Treasurer, now filled by Anna Stevenson, was confirmed. A new round of policy review began in spring 2023, with a list of nine existing policies to review and seventeen new policies to create. This work is ongoing. 

## • _Fundraising and Marketing_ 

In the first part of 2023, we continued to benefit from being Mayor Mark Ashton’s chosen charity, along with Romsey Mill. Our Quiz Night on 28 February, held jointly with Romsey Mill, was a great success with all 22 tables sold out. The event was sponsored by Rathbones, Barr Ellison and Deloitte and raised around £3,000 through ticket sales, bar takings and a raffle. Our new Zettle machine, which enables us to take card payments, was put to good use. Mark Ashton attended our July meeting, at which we were able to convey our appreciation for his and Barbara’s support, and he expressed his intention to stay involved with Cambridge Aid going forward. 

In the second quarter of the year, we were chosen to be a local beneficiary of the Waitrose Community Matters scheme. Each quarter Waitrose donates to different themed charities and organisations and Cambridge Aid was selected for a cost-of-living theme. 

We were fortunate to be chosen as one of six local charity beneficiaries of a Cambridge and Peterborough Crown Courts scheme to distribute remittances from funds seized by the police during drug-dealing investigations. We have started to receive quarterly payments from the scheme, which is being administered by Cambridgeshire Constabulary. These donations will be of major help in funding grants for current and recent homeless people, referred to us by the Cyrenians, It Takes a City, Jimmy’s, Riverside and Wintercomfort (traditionally about 15% of our grants). 

We successfully applied for new grants throughout the year: from the Evelyn Trust, the Britford Bridge Trust, and the St James’ Place Foundation. The grant from the Evelyn Trust is for funding applications citing significant mental health issues; those from the Britford Bridge Trust and the St James’ Place Foundation are to fund grants for children’s clothing and school uniform. 

As well as providing opportunities to raise funds, our presence at events such as the CRASSH event at St John's College on 9 March about health inequalities, and the Sampson Orchestra concert at West Road Concert Hall on 17 June brought about opportunities to publicise our work to a wider audience. We continue to benefit from lots of other fundraising on our behalf, from pudding evenings to St Patrick’s Day celebrations, annual quizzes, to carol singing. 

A new issue of our newsletter was published in February. 

## • _Applications and Grant Giving_ 

Treasurer Paul Ray and Vice Treasurer Anna Stevenson managed a record number of grant applications with their usual speed and great efficiency, supported by a subcommittee of other trustees. As well as processing applications, they manage queries, report to donors, and deliver grants. In 2023 Cambridge Aid also distributed monies from 

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Cambridgeshire Community Foundation funds: the Winter Crisis Fund, the Cost-of-Living Crisis Fund, and the Communities in Crisis Fund. 

Cambridge Aid participated in Vodafone’s” Everyone Connected” programme, aimed at crossing the digital divide. This has enabled us to give out free SIM cards with grants for the purchase of mobile phones. 

The guidance on how to obtain a grant for the use of Citizens Advice advisers was updated and circulated in March. 

## • _Investments_ 

The Investments Subcommittee have reviewed and managed our investments with both CAF and Rathbones and taken action to maximise returns and clarify investment policy. 

## _Relationships with other charities and community groups_ 

Trustees Caitriona Bearryman and Anna Stevenson took turns to attend the local Charity Networking Group Meetings, helping us to stay in touch with news and developments within the wider community. Other connections that were nurtured include Caitriona and Anna visiting our partner Emmaus; Paul Ray and Anna meeting with Friends of Fulbourn and the Community to discuss their possible future plans; Joel Limmer and Caitriona Bearryman attending Cambridge United Charities meeting in June, and Paul Ray attending the Whitworth Trust and the Kings Hedges Family Support Project AGMs. 

Trustee Ken Smith attended the four quarterly meetings of the Downing Place Community Group, leading to fruitful relationships with, among others, NatWest, John Lewis, and Cambridge City Foodbank. Ken also represented us at a St Patrick’s Day celebration organised by a Hartington Grove Friends Meeting House, at both the Great St Mary’s coronation celebration service and the Feast on the Piece (the latter also attended by Joel Limmer), and at several events in Girton. 

Trustee Suzi Gilbey continues to conduct due diligence activities each month, liaising with our sponsors to ensure that funds have been used for their intended purpose and to gather feedback about their value to clients. Suzi updated the trustees about her enquiries in September and reported that sponsors and clients appreciate our flexible approach and speedy turnaround. 

## _Media and social media_ 

Chair Joel Limmer appeared on Cambridge 105 radio on 23 November talking about Cambridge Aid’s activities with friend of the charity Neil Whiteside. He also used this opportunity to publicise our need for a new trustee. 

Volunteers Liam Loftus and Claudia Snudden continue to manage our social media channels. Each month they post the number of grants given, and the amount of support given and received, alongside publicising events and introducing members of the trustee team. Our followers are growing across all social media platforms, and we reach between 30 and 300 people per post across the various platforms. 

## _Trustees and volunteers_ 

Rachel Talbot resigned as trustee representing Citizens Advice in June. Thanks to Rachel for her impressively long service (over 20 years). We welcome Sheila Gower Isaac as the new trustee representing Citizens Advice and are grateful for the close working relationship between Cambridge Citizens Advice and Cambridge Aid. 

The post of Vice-Chair remains empty, but Shelley Gregory-Jones has agreed to be Deputy Chair and will fill in for Chair Joel Limmer when he is away. 

We have begun to search for a new trustee with investment experience to join us as Joel Limmer is stepping down from the Investments Subcommittee due to a potential conflict of interest. 

We welcomed a new volunteer, Esther Lamb, in the autumn. Esther encountered Cambridge Aid when the charity was a beneficiary of the CRASSH event, ‘Precarious lives: inequalities in health through the lens of the filmmaker.’ Esther, who works at CRASSH, will be getting involved with event organisation and fundraising opportunities. 

Sadly, five former trustees passed away this year. Chloe Cockerill and Desmond Fitzgerald both died in spring 2023. Evelyn Penfold died in July and Paul Ray attended her funeral.  She was a trustee for 14 years, for much of which she was Hon. Secretary, before a stint as Chair in 2015-2016. Clare Morgan died in October, aged 94. Clare was a trustee from October 2001 to May 2020. She was one of a dedicated number of trustees who steadfastly operated our pre-pandemic method of approving grants. Tim Wheatley died just before Christmas 2023. He was a very active trustee from May 2017 to March 2020, and initiated valuable enduring relationships for us with Little St Mary’s, Friends of Whitworth House and Friends of Fulbourn Hospital and the Community. 

On a more positive note, Paul Ray, our Treasurer, and his wife attended King Charles’ Garden Party on 3 May. The invitation came about from Paul’s award of a British Empire Medal by Queen Elizabeth for, among other things, his work for Cambridge Aid. 

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**Cambridge Aid Trustees’ Report (continued)** 

## _**Honorary Treasurer’s Report**_ 

In 2023, total grants we made were £188,213 – 30% ahead of last year’s record of £144,332 and 78% ahead of the pre-COVID record in 2019. 

We made 1,243 grants in 2023 (2022: 976 & 2019: 849). 66% were to people living in Cambridge City, the balance mainly to nearby villages in South Cambridgeshire. Some 52% of recipient families suffered from mental health issues and 23% had suffered from domestic violence. The referring organisations are listed on page 6. In 2023 we were discovered by some new organisations like It Takes a City, Cambridge Refugee Resettlement Campaign, Cambridge Ethnic Community Forum, and several medical and nursing practices. 

The average grant was £151 (2022: £148 & 2019: £125). Renewed inflation will add upward pressure. 

What the grants were for is set out on page 6. Electrical/White goods and store cards for food and household essentials continued as the leading applications. Rehousing following domestic violence and house moves generally (including moving on from initial hosts for Ukrainian families) sustained strong demand for starter packs of furniture from Emmaus and Cambridge Re-Use and for furniture, carpets, curtains, beds, and bedding. Mobile phones have become a popular request, particularly for those needing to stay connected with the DWP and support networks. We continue to work closely with The Friends of Fulbourn Hospital and the Community to jointly fund complicated expensive deep cleans and other needs which enable hospitalised people to return home. We are grateful for the specific funding assistance we receive from the Evelyn Trust for grants which alleviate the pressure on the NHS. 

Income was £178,403 (2022: £128,760). We are very grateful for the £40,000 received from Cambridge United Charities (now re-named United Charities of Cambridge) and the £37,461 we were able to disburse from three Cambridgeshire Community Foundation funds. We are also very grateful for the steadfast support of many individuals, churches and colleges and other organisations listed on pages 7 and 8. Trustees and their families including contributed £6,102 (2022: £18,370) plus a lot of their time. 

Our total costs at £1,589 (2022: £1,223) continued at less than 1% of grants made. We are very grateful to Paul Donert our Independent Examiner and Geoff Jones our webmaster for not charging any fees. 

The total value of our Endowment Funds to provide investment income rose from £244,731 to £259,375 over the year.. 

With income less than expenditure, our cash reserves fell by £11,391. They remain healthy, however we will have to work hard at sustaining our fundraising, if we are to support the 2023 level of grant giving in the medium term. 

## _**Financial Review**_ 

Cambridge Aid’s receipts and payments for the year ended 31 December 2023 are as shown on page 9. 

## _Reserves Policy_ 

The Trustees consider that, except for the Endowment Funds, all cash and other investments constitute reserves. Taking account of the monthly fluctuations in receipts and donations, and the desire to maintain consistent grant giving even when there are several consecutive months of cash outflow, the Trustees consider that 6 months reserves against annualised expenditure to be prudent and appropriate. At 31 December 2023 reserves were £155,462 (2022: £166,861). This represents 10 months expenditure cover (2022: 14). 

## _**Trustees’ Responsibilities**_ 

The Trustees are responsible for preparing the Annual Report and Financial Statements in accordance with the requirements of the Charities Act 2011. 

The Trustees are responsible for keeping accounting records which 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.  They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. 

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**Cambridge Aid Trustees’ Report (continued)** 

## Stat **istics for 2023** 

|**Clients were referred by the following organisations:**||
|---|---|
|Cambridge & District Citizens Advice|275|
|Citizens Advice Rural Cambridgeshire|7|
|Cambridge and Cambridgeshire Social Services including:||
|Cambridge City Council Financial Inclusion|8|
|Cambridge & Peterborough Mental Health Foundation Trust|28|
|Change Grow Live & Dual Diagnosis Team|23|
|Cambridge City Housing, Homeless & Tenancy Sustainment Teams|46|
|East Cambridgeshire District Council|46|
|Fawcett House Cambridge social care teams|52|
|Huntingdon District Council Resident Advice|65|
|Kings Hedges Family Support Project|27|
|Meadows Children & Family Wing|44|
|North Cambridge Children’s Centre|13|
|Other children and family teams (3)|15|
|Sackville House Cambourne social care teams|35|
|South Cambridgeshire District Council|38|
|Cambridge Cyrenians|34|
|Cambridge Ethnic Community Forum|21|
|Cambridge Refugee Resettlement Campaign|14|
|Cambridge Women’s Resources Centre and Women’s Aid|21|
|Health Teams (10)|47|
|It Takes a City|12|
|Jimmy’s Cambridge|49|
|P3 Charity|33|
|Probation Service|5|
|Red Hen Project|9|
|Riverside Care & Support including Cambridge Youth Foyer|38|
|The Cambridge Housing Society including Corona House|65|
|Other Housing Societies (5)|18|
|Wintercomfort for the Homeless|76|
|YMCA|38|
|Others (17)|41|
|**Total**|**1243**|
|**Help was given for:**||
|Electrical goods and gas cookers|195|
|Food/household provisions|182|
|Empty flat/house starter packs including 61 Emmaus “Solidarity Packs”|152|
|Clothes and shoes (98 adult: 40 children)|138|
|Furniture and soft furnishings|107|
|Mobile phones|68|
|Gas, electricity, and heating oil|64|
|Carpets, flooring, and curtains|43|
|Beds, mattresses, and bedding|38|
|Debt Relief Orders|35|
|Children’s furniture, beds, sensory toys etc|33|
|Bicycles|32|
|Providing identification documents and licences|26|
|Computers and internet connections|17|
|Deep cleans|17|
|Kitchenware|17|
|Security devices|13|
|Moving costs|10|
|Rail and bus fares|10|
|Medical and glasses|9|
|Skips and waste removal|8|
|Others (16)|29|
|**Total**|**1243**|



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**Cambridge Aid Trustees’ Report (continued)** 

## **Individuals’ donations received in 2023:** 

*Wholly or partly gift aided 

|aided||
|---|---|
||**£**|
|Anonymous*|5,851|
|Mr C Allen|100|
|Mrs C Aston|1,000|
|Ms M Beveridge*|1,000|
|Mr T Bragg|200|
|Mrs S Brignall*|1,000|
|Ms S Chapman’s estate|411|
|Mr A Cook|500|
|Easyfundraising.org|350|
|Mrs M Gray*|500|
|Mrs K Haslam*|600|
|Ms H Jackson*|700|
|Prof A Kinmouth*|100|
|Mr P Kourpa*|120|
|Mr D Livesey*|300|
|Mr J Limmer*|1,000|
|Ms L Llewellyn*|300|
|Mr L P M Lloyd-Evans*|900|
|Ms A Miller*|250|
|Mrs P Milsom*|720|
|Mrs C Myer*|1,000|
|Mr A Oswald*|200|
|Mr & Mrs P Ray*|5,102|
|Mrs P Reynolds|500|
|Mrs S Richards|935|
|Mr N W Robbins*|2.040|
|Mrs E Robinson|1,200|
|Lord & Lady Sainsbury*|350|
|Mr P S Saunders*|1,700|
|Dr R Scott*|300|
|Mr & Mrs J H Stewart*|480|
|Mr M Talbot*|350|
|Mrs E Thompson|200|
|Mr T Wheatley*|360|
|Mr A Williams*|210|
|Mrs M Williamson|250|
|**Total**|**31,079**|



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**Cambridge Aid Trustees’ Report (continued)** 

## **Organisations supporting Cambridge Aid in 2023:** 

|**Organisations supporting Cambridge Aid in 2023:**|||
|---|---|---|
||**£**||
|Barr Ellison LLP||1,270|
|Barton St Peter’s PCC||302|
|Britford Bridge Trust||5,000|
|Cambridgeshire Community Foundation (for winter fuel payments)||4,500|
|(for cost-of-living crisis)||25,000|
|(for communities in crisis)||7,961|
|Cambridgeshire Constabulary / Crown Court forfeitures||14,568|
|Cambridge Rotary Club||3,175|
|Castle Street Methodist Church||200|
|Cambridge United Charities (now re-named United Charities of Cambridge)||40,000|
|Cambridge University Faculty of Education||2,000|
|Churchill College||200|
|Corpus Christi College||300|
|Duxford Officers Mess||122|
|Emmanuel College||200|
|Evelyn Trust||3,750|
|Fitzwilliam College||100|
|Fulbourn United Reform Church||265|
|Girton Feast||180|
|Girton Tuesday Afternoon Friendship Group||200|
|Jesus College||750|
|John Lewis PLC||1,500|
|Lyndewode Road Charity Carols Event||451|
|MCW Architects||250|
|Microsoft research||455|
|Newnham College||250|
|Queens’ College||300|
|Religious Society of Friends at Hartington Grove||2,696|
|Romsey Mill (joint fundraising events)||8,798|
|Sampson Orchestra||394|
|St John’s College||400|
|St John’s Place Charitable Foundation||2,500|
|Trinity College||1,685|
|Trinity Hall||3,500|
|**Tota**l||**133,222**|



**Signed on behalf of the Trustees by Mr J Limmer – the Chair of Trustees** 

## **Date:** 

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## **Cambridge Aid** 

## **Receipts and Payments Accounts for the year ended 31 December 2023** 

|General<br>Purpose<br>Fund<br>Cambridge<br>United<br>Charities<br>Fund<br>Children’s<br>Fund<br>£<br>£<br>£<br>**Income Receipts**<br>Grants<br>80,596<br>40,000<br>12,626<br>Donations<br>27,532<br>0<br>3,547<br>Income from Investments<br>6,011<br>0<br>0<br>Refunds of old cheques not cashed<br>390<br>0<br>0<br>Tax Recovered on Gift Aid<br>7,701<br>0<br>0<br>**Total Receipts**<br>122,230<br>40,000<br>16,173<br>**Expenditure**<br>Charitable Activities:<br>Grants to Individuals<br>143,561<br>33,237<br>11.415<br>Other Expenditure<br>Bank charges<br>477<br>0<br>0<br>Fund raising costs<br>562<br>0<br>0<br>Administrative costs<br>550<br>0<br>0<br>**Total Expenditure**<br>145,150<br>33,237<br>11,415<br>**Net Receipts/(Expenditure) for the year**<br>(22,920)<br>6,763<br>4,758<br>Cash and bank balances brought forward<br>132,701<br>18,439<br>5,721<br>Cash and bank balances carried forward<br>109,781<br>25,202<br>10,479<br>**Statement of Assets and Liabilities: Monetary Assets**<br>General<br>Purpose<br>Fund<br>Cambridge<br>United<br>Charities<br>Fund<br>Children’s<br>Fund<br>£<br>£<br>£<br>CAF Bank Account<br>57,824<br>25,202<br>10,479<br>Scottish Widows 90-day notice account<br>51,957<br>0<br>0<br>Cash in hand<br>0<br>0<br>0<br>109,781<br>25,202<br>10,479|Total<br>2023<br>£<br>133,222<br>31,079<br>6,011<br>390<br>7,701<br>178,403<br>188,213<br>477<br>562<br>550<br>189,802<br>(11,399)<br>156,861<br>145,462<br>Total<br>2023<br>£<br>93,505<br>51,957<br>0<br>145,462|Total<br>2022<br>£<br>76,160<br>36,356<br>4,956<br>318<br>10,970<br>128,760|Total<br>2022<br>£<br>76,160<br>36,356<br>4,956<br>318<br>10,970|
|---|---|---|---|
|||<br>144,332<br>331<br>408<br>494<br>145,565||
|||<br>(16805)<br>173,666||
|||<br>156,861||
|||<br>Total<br>2022<br>£<br>135.459<br>21,402<br>0<br>156,861||



Investments with a market value of £10,000 (2022: £10,000) are held by the charity and are available for redemption by the charity if required. In addition, investments are held within an historic permanent endowment fund with a market value of £60,984 (2022: £59,934) and in a fund of ethical investments managed by Rathbones with a market value of £198,391 (2022: £184,941). 

## **Signed on behalf of the Trustees:** 

**Mr P Ray BEM Honorary Treasurer Date:** 

Page:  9 



**Cambridge Aid Notes to the Receipts and Payments Accounts for the year ended 31 December 2023** 

## **1 Endowment Funds to provide investment income:** 

IFSL withdrew the CAF UK Equity and Fixed Interest Funds we were invested in, and our investments in these funds were switched to other CAF Funds at no cost in June 2023 and are now: 

36,392 Units IFSL CAF ESG Income and Growth Fund with a market value at end 2023 of £36,749 

(formerly 22,637 Units of IFSL CAF UK Equity B INC – (cost £25,379 with a market value of £36,141 at end 2022)) 

22,920 Units IFSL CAF ESG Growth Fund Income with a market value at end 2023 of £24,235 

(formerly 28,690 Units of IFSL CAF Fixed Interest B INC – (cost £28,690 with a market value of £23,649 at end 2022)) 

Ethical investments managed by Rathbones. 

£200,000 invested 7 October 2020 – value £198,391 on 31 December 2023 (2022: £184,941) 

## **2 Other Assets** 

£10,000 Scottish Widows Maturity Base Rate Tracker, currently 5.25% Gross/AER. 

The charity has no functional assets of material value. 

## **3 Trustees’ Remuneration** 

Nil (2022: Nil) 

## **4             Related Party Transactions** 

One Trustee is a Generalist Adviser at the Cambridge and District Citizens Advice Bureau who referred 22% (2022:26%) of our clients. This Trustee does not have a vote on client applications that she has personally written. 

One Trustee is an employee of Rathbones Investment Management in Cambridge who manage our ethical investments. 

## **Independent Examiner’s Report** 

I report on the financial statements of the charity for the year ended 31 December 2023 that are set out on pages 9 and 10. 

## **Responsibilities and basis of this report** 

The charity’s Trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report in respect of my examination of the charity’s Financial Statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Basis of Independent Examiner’s Report** 

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: 

1. 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. 

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 to enable a proper understanding of the accounts to be reached. 

**P Donert                                                                                                                   Date:** 

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