2020-12-31-accounts - Railway Benevolent Institution

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Board Of Management	Board Of Management	Board Of Management	Board Of Management		Tim Shoveller (Chair)	Tim Shoveller (Chair)	Tim Shoveller (Chair)
					Janet Goodland	(Vice		Chair)
					Kevin Adlam (from 24			February		2020)
					Ciaran Barr
					Kay Boyden (from		4 November			2020)
					Mark Enright
					Paula Hayes
					lan Jeffrey
					Frank Johnson
					John Kennedy
					Mark Newton
					Maggie Simpson		OBE
					Samantha Turner
					Jane English
					Memck Willis OBE (until 4				June 2020)
Chief Executive			&Secretary		Claire Houghton	(from		6Apnl 2020)
					Faye Jaques (Interim			role	from	8 November 2019to 6April 2020)
President					Pete Waterman	OBE
Charity	number		(England	and Wales)	206312
Charity	number		(Scotland)		SC039550
Registered		office			1st Floor
					Millennium House
					40 Nantwich Road
					Crewe
					Cheshire
					CW2 6AD
Auditor					Geens Limited
					Chartered Accountants
					68 Liverpool Road
					Stoke on Trent
					ST4 1BG
Investment		Advisers			Rathbone Investment			Management
					Port of Liverpool		Building,		Pier	Head
					Liverpool, L3 1NW


Bankers				The Royal Bank	ofScotland		pic
				62/63 Threadneedle		Street
				London
				EC2R BLA
				Allied Irish Banks pic
				40/41 Westmoreland		Street
				Dublin 2
Honorary Solicitor				Sara Hollingworth
Vice Presidents				David Allen
				Dominic Booth
				David Cobbett ERD,		TD
				Richard Goldson	OBE
				Nigel Harris
				Tom Harris
				Keith Heller
				Simon Osborne
				Matthew Parris
				Paul Watkinson
				Joe Welsh
				Ivor Warburton
				Alan Whitehouse
				The Rt. Hon. The Lord Snape				ofWednesbury
Benefits &	Services	Committee		Janet Goodland	(Chair)
				Maggie Simpson	OBE (Deputy			Chair)
				Jane English
				Mark Ennght
				Richard Goldson	OBE
				Christopher Henley
				Andrew Litherland
Finance & General Purpose			Committee	Frank Johnson (Chair)
				Ciaran Ban
				Samantha Turner
Nominations	& Remuneration		Committee	Paula Hayes (Chair)
				Janet Goodland
				Mark Newton
				Tim Shoveller
Scottish Management		Committee		lan Jefhey (Chair)
				Nikki Ralston (Secretary)
				Colin Dodgson

		Page
Board of Management	Report	1-9
Statement of responsibilities		10
Independent auditor's	report	11-13
Statement offinancial	activities	14
Balance sheet		15
Notes to the financial	statements	16-27

					Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds
								2020	2019
				Notes				5	5
Donations and legacies Other trading activities Investments Other income					216,571 23,096 61,620 10,000		19,077	216,571 23,096 80,697 10,000	245,348 50,396 93,116
Total income and	endowments				311,287		19,077	330,364	388,860
Raising funds				7	112,651		5,581	118,232	155,312
Charitable activities				8	412,690			412,690	458,108
Total resources expended					525,341		5,581	530,922	613,420
Net gains/(losses)	on investments			13	187,653		61,769	249,422	486,635
Net (outgoing)/incoming			resources
before transfers					(26,401)		75,265	48,864	262,075
Gross transfers between		funds			19,077		(19,077)
Net movement in funds					(7,324)		56,188	48,864	262,075
Fund balances at 1	January		2020		2,926,886	7,901	908,853	3,843,640	3,581,565
Fund balances at	31 December
2020					2,919,562	7,901	965,041	3,892,504	3,843,640

				2020		2019
			Notes	6		6
Fixed assets
Investments			14		3,770,482		3,755,809
Current assets
Debtors			15	11,180		25,628
Cash at bank and	in	hand		226,788		178,178
				237,968		203,806
Creditors: amounts		falling due within
one year			16	(115,946)		(115,975)
Net current assets					122,022		87,831
Total assets less	current liabilities				3,892,504		3,&43,640
Capital funds
Endowment funds	-	general	19		965,041		908,853
Income funds
Restricted funds			20		7,901		7,901
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Designated funds			21	88,094		85,831
General unrestricted		funds		2,831,468		2,841,055
					2,919,562		2,926,886
					3,892,504		3,843,640

Donation	s	and	legaci	es
						Unrestricted	Unrestricted	Restricted	Total
						funds	funds	funds
						2020	2019	2019	2019
						6	6
Donations		and gifts				216,571	244,145	1,203	245,348
Donations		and	gifts
Regular	Giving					85,814	87,430		87,430
Individuals						47,600	45,445		45,445
Civil Service Insurance				Society		30,000	40,000		40,000
Railway	Companies					10,816	23,143		23,143
Other businesses			and	charitable	bodies	17,154	20,317		20,317
Legacies						14,220	9,455		9,455
Giff Aid						10,967	18,355	1,203	19,558
						216,571	244,145	1,203	245,348

Charitable	Charitable
Income	Income
2020	2019
	6
23,096	50,396

	Unrestricted	Endowment	Total	Total
	funds	funds
	2020	2020	2020	2019
	6	F		6
Income from listed investments Interest receivable	61,563 57	19,077	80,640 57	91,007 306
	61,620	19,077	80,697	93,116
For the year ended 31 December 2019	73,026	20,090		93,116

Unrestricted	Total
funds
2020	2019
6	f
10,000

				Unrestricted	Endowment	Total	Total
				funds	funds
				2020	2020	2020	2019
				6	6	F	F
F aii	n
Staging fundraising Support costs		events		5,737 86,836		5,737 86,836	19,882 108,573
Fundraising	and publicity			92,573		92,573	128,455
Investment	management		costs	20,078	5,581	25,659	26,857
				112,651	5,581	118,232	155,312
For the year ended		31	December 2019
Fundraislng	and publidty			128,455			128,455
Investment	management			21,161	5,696		26,857
				149,616	5,696		155,312

			Charitable	Charitable
			Expenditure Expenditure
			2020	2019
				6
Grant funding of activities (see note 9)			231,695	253,347
Share of support costs (see note 10)			154,290	165,766
Share of governance		costs (see note 10)	26,705	38,995
			412,690	458,108
Grants payable
			Charitable	Chantable
			Expenditure	Expenditure
			2020	2019
			f
Grants to individuals
Quarterly Grants			55,200	74,432
Single Benevolent	Grants		144,479	154,255
Webb Fund Grants			25,703	21,612
Child Care Grants			800	800
Other Charitable	Grants		5,513	2,248
			231,695	253,347

Support co	sts
		Support	Governance	2020	2019
		costs	costs
		6	6
Staff costs Information Marketing Other costs	technology	178,303 15,694 26,964 20,165	12,583 1,744 1,677	190,886 17,438 26,964 21,842	202,196 15,312 31,305 50,729
Audit Fees Accountancy Insurance Other direct	costs		4,987 1,158 1,786 2,770	4,987 1,158 1,786 2,770	5,454 978 2,122 5,238
		241,126	26,705	267,831	313,334
Analysed between
Fundraising Charitable activities		86,836 154,290	26,705	86,836 180,995	108,573 204,761
		241,126	26,705	267,831	313,334

	2020	2019
	Number	Number
Management and administration
Employment costs	2020	2019
		6
Wages and salaries Social security costs Other pension costs	170,640 11,881 8,365	179,261 14,338 8,597
	190,886	202,196

			Unrestricted	Endowment	Tots I	Total
			funds	funds
			2020	2020	2020	2019
			6	6
	Gain/(loss)	on investments	187,653	61,769	249,422	486,635
	For the year ended 31
	December	2019	356,987	129,648		486,635
14	Fixed asset investments

Fixed asset investments
	Listed
	investments
Cost or valuation
At 1 January 2020	3,755,809
Additions	615,661
Valuation changes	249,421
Disposals	(850,409)
At 31 December 2020	3,770,482
Carrying amount
At 31 December 2020	3,770,482
At 31 December 2019	3,755,809

15	Debtors
	Amounts falling due	within one year:		2020 6	2019 6
	Trade debtors Prepayments and accrued income			3,109 8,071	2,918 22,710
				11,180	25,628
16	Creditors: amounts	falling due within one year
				2020	2019
			Notes	6	f
	Deferred income Trade creditors Accruals for grants payable Accruals		17	15,557 4,450 78,829 17,110	4,013 95,842 16,120
				115,946	115,975
17	Deferred Income
				2020	2019
				6	6
	Other deferred income			15,557

arising on	the assets	form part	ofthe fund.
			Movement	in funds					Movement	in funds
	Balance at	Incoming	Resources	Transfers	Revaluations		Balance at	Incoming	Resources	Transfers Revaluations		Balance at
	1 January	resources	expended			gains and	1 January	resources	expended		gains and	31
	2010					losses	2020				losses	December
												2020
									6	6	6	f
Permanentendowments
Webb Fund	670,573	17,164	4,866	(17,164)		110,764	776,471	16,298	4,768	(16,298)	52,772	824,475
Proprietary
Annuities
Fund	77,247	1,977	(561)	(1,977)		12,759	89,445	1,877	(549)	(1,877)	6,079	94,975
Langton Home Fund	28,737	736	(208)	(736)		4,747	33,276	699	(205)	(699)	2,262	35,333
General
Webster
Wright Fund	8,344	213	(61)	(213)		1,378	9,661	203	(59)	(203)	656	10,258
	784,901	20,090	(5,696)	(20,090)		129,648	908,853	19,077	(5,581) (19,077)		61,769	965,041

			Movement			Movement
			in funds			in funds
1	Balance at January 2010		Incoming resourcest	Balance at January 2020		Incoming resources	Balance at 31 December
		f	f		f		2020f
		6,698	1,203		7,901		7,901

		Movement	Movement	in	funds		Movement	Movement	in funds	in funds
	Balance at	Incoming	Resources		Revaluations,	Balance at	Incoming	Resources		Revaluations,	Balance at
	I January 2010	resources	expended		gains and losses	1 January 2020	resources	expended		gains and losses	31 December
											2020
							f		f	f	f
St
Chnstopher's
Fund	51,499	1,345		952	6,604	60,400	1,252	(4,892)		3,783	60,543
The Sheppard
Education
Fund	22,036	575			2,820	25,431	527			1,593	27,551
	73,535	1,920		952	9,424	85,831	1,779	(4,892)		5,376	88,094

Analysis of net asse	ts between f	unds
		Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds	Funds	2020	2019
		E	E	E	E	E
Fund balances at 31	December
2020 are represented	by:
Investments		2,805,441		965,041	3,770,482	3,755,809
Current assets/(liabilities)		114,121	7,901		122,022	87,831
		2,919,562	7,901	965,041	3,892,504	3,843,640

under non-cancellable operating leases, which fall due a	s follows:
	2020	2019
	Z	E
Within one year	8,400
Between two and five years		16,800
	8,400	16,800