THE BENEVOLENT SOCIETY OF BLUES TRUSTEES? 200 ANNUAL REPORT Forthé y•ar •nded 30 Juno 2024 The Truste¢5 pr¢s¢trt their Rep￿ and thc audit¢d tr￿utsts of Thc Bcncvolrnt So¢iety of Blues ('th¢ Cherity" or ￿¢ BSB'J for th< year ended 30 hne 2024. R¢feren¢¢ AdmlDlJtratlve DÈ¢￿1 ThE Charity 18 a Re8iStered Ch&riiy with number 207818. 11 is ajso in its ShOr￿¢d form &4 ihe BSB and ha5 adopt¢d thE slogan'Bhies SuppoFting BIu¢6' iijits literatw¢. The wincipal Offieersof the Charity xe.. Guy Wi]kes Deputy ￿lArni1￿. AndrewHowgc801frorn 10 Jufy 2023) St￿h¢￿Treharne FCA (until IOJtsly 20231 SeLTetary: Juliewilsc Thc Tns8t¢es ofth¢ Ch&ity alrkn0￿3sDJre£1OrS I'￿IrectorS.) vthD are allllKEnbcts of tILC B0￿d of Dirthrs lkn Board,). Thos¢ wlw) sttved a5 a Dirc(tor durtsjgthe ye4rund¢r revitw werv. Martin Crick (b) Christoph¢r kni& (b) (G) (relired22TrJ Aptil 2024) Rl'chard E￿£ (bl Andrcw Howg¢go (al (b) (d) S¢*]en Trebame (#) (b) L4)uise W2rrcnd¢r (b) (rdirEd22" April 2024) Sally-Ann White (d) Guy WAlkes Ib} (d) Jennifer Williams (b) Jennic BanYiK (b) (appoitstcd 2010112024) Th¢ ttwnbu of DirectOTS scryiog m¢t the requirLxll¢nT5 Set in the Charity'5 Rui¢s (*) Membw of Finallce Commi￿¢ (bl Member of Grant8 & LO￿ Coomiittee {c) M¢mbcr of Pr¢sentations cOn￿LItt¢ {ffj Memb¢rof Commwraliots C(*lltni Thc Chaimian alld Deputy Chairn]zD arr ex-offieio nwnb¢rs of aEI ComToiit¢e& Th¢ Charity'$ Rules provide for Holdin8 fnjstecs m rupect of certain ofthc CThaTiry'S investments. On 17 January 2022 thc Dirertors appointrd Martin Ctick, Pttry Ki¢ch¢n, St¢pheD TLtharne and Guy Wilkes to b¢ thc Holdill8 Trt￿¢¢& The adthtss$ frorn whidl tbe BSB is.. The B￿￿OI¢￿t Society ofBiu The CouniiDg Hous¢ Cbtist's Hospital Horsbam West Susse% RH13 OYP Communication8 5hotsld be #ddressed to the Secretyry on 01403 247418 or by wail toiuliWlwwpporDnEblues.n TIIE BENEVOLENT SOCIETY OF BLUES TRUSTEES, 200th ANNUAL REPORT (continued) OthcT rtl¢vartorganisations arv. Autht0￿" IIAwlinson &HunterAudii ilP Eishth Floor 6 New Srtsqutre NewFth Lane Lon&Jn EC4A3AQ Na(ional WestsiiinstCT Bank Pl¢ P.0. Box 12264 I Pri￿l￿5 Strvct Londott F£2R 8PB knvestsnrntManager6.' Intwdted Fin2ncial Arrangctnemts Ltd VaTranwt 29 CJerJent's kne EC4N 7AE Finan¢thi Advi5ttS'. RcKkWe41th BriglLknJ Ltd. Yo]k Hws¢, WesL 2-5 RockPla¢e BrIB￿￿ BN2 IPF atld matt*geme Tbe BSB, which is itLd¢tsttdent of Christ. Hvspityl. was fovnded in 1824 by a group of Old Blucs {fomicr pupils of Christ's Hospiial) who wished to help some of their fortuiiate collcdgu¢s. The ChaTity cxists to ￿$1$[ per5on8 educAt•J or being ¢ducated atcbtist's Hospit￿, or ptst member6 of stsff with not less tkan ten y&vs' seryi¢4 who are inneed, h3rd8hip ordistr¢SS. The as5iStatLre Gan ¢xtend to pa￿￿t$, SPOU8es, Wido￿ widow¢r4, thildr¢n or othcr *epcndants of sll¢h persotts attd can be in the fonn of w'fts, grants or low or any cotnbillatioll of thest. The Charity ¢￿ also nuke prescnt8tiotLS to Chrisi's Ho8piIAI of children or close relatives of Old Blues. The Chartty OPBTal¢4 through thB Board al￿ ¢0￿MItte¢S appoint¥d by thc Board. Thc Board Rs rc5ponsiThle for the Dverall Jnanagemgnt of the CharityaLdm¢¢ts four IiTUCS ayearattd i>tht¥wisGas rcquircd. The cottThiittces priTnatily cotssist of Directors. bui some hav¢ aiMiu*mal fftcmbers who arc appoint￿ to brothn tb¢ 5pz¢8d of knowltsjge on the coxDJuitlee. M05t of th¢ responwEy'liknes are dcl¢ga¢¢d to ¢he comrniLt¢rts, which report w ih¢ Board The Board s¢ts the ¢ernis Df rdcrence far t￿￿ mmtttcc artd rntifies all major decisi(￿ rfsetn fiL The GIatLts&￿1th5 Committee iSTe4poDsiblGlord¢terninin8mostof theb¢nefits providedby the BSB. litne¢ts inmollmotsths of theyezr and otherwise as ne¢essary Lo con5id¢r in detail applicaiiolls for grants, loans or other as5islan¢¢. Th¢ BDard airn8 to ensure thlli every D￿eCtor serves ot) this ¢ODJrnitte¢ at SQTne stsge. The Presentation$ Ctimmittee AS r¢spottsxbl¢ for BSB pr¢sentstions to Chri6t'B Hospitsl. This iDvolv#s AdentifyiD8 Lnd a66es6in8 applicants to detenninc whu should be offered the opwortunity to take thc EntrancE examination as a potential BSB pr¢sentc4 attd folloviing up theirprogr&58 whj'le Ibo arc at tbc school. Th¢ Fin￿¢ Conunitt¢e l(M)ks after the fJn4Dciai aff¥irs of the Cbority. Tllls includes rm8￿1￿1 reports budgrfs 4nd the moniloring of invesimcnt policy A￿d p¢rf¢)rniance. Th¢ ComrnutiiEations Cimwniffee Sed￿ to ¢sthblith gmdn￿l￿￿1ttth0dernI￿d cfftctive cfflJ)Lnulli¢auonwithth¢ Cbrist's Hospitsl commullity wjd bryott4 tr* encowage new M￿l￿r5 aLd idcDrify potential beneficiaries. The day-UPknday running of tht Charity rests with the SecretAry, who 1$ th¢ fust polnt of contact for all matters. Tbt S¢cr¢tary kccps the essential records of the Ctwity. includillg the databas¢$ of meJDbtfS *Dd bcncficiaries. The rxrutuneDÉ of new Dire¢lot$ and ¢omrtiitte< rncmbBrs is lar8tly by word of mouth through the exlellsiwe tjetsvork of Old Blue a&wciations and tsocictie5. Som¢time8 specific 5cu¢h¢5 ar¢ ¢grried out where spccialist skill$ èJ¢ lleed¢d. The indurtio and training of Directors and coromittce mcmb¢rs 1$ ￿led through the ¢Ji$ttibu¢iOn of BSB hattdbook and other docum¢ntstion. through 5pEcific se55ions at B(b2rd me£ting5 atKI thTollgb direct mvolvemcnt in on¢ or more of the committees. The DiTcdoT5 considtr thai they comwsE the key managerneni peTgonn¢l of the Charity, In ¢haTge of dir¢c¢iTrg and Gontrollillg the CJ)Rrity's affair& All Directors and committ¢¢ members 8ive the￿ tim¢ ft¢¢ly attd none receives amy ￿MI￿cT￿tion for their work. THE BENEVOLENT SOCIETY OF BLUES TRUSTEES, 200° AIYNUAL REPORT (¢ontItt￿t￿) Risk maD&geitlfllt 2nd governanet The Board has r￿l¢Wed the major Strategic, business and oprrationbl risks to which the Charity is expTrsed and confjrms that Syst￿￿5 have be¢n establithedto mitigat¢ ally 3ucb ri5k6. The 4S8e4sm¢Dt of iisks 1$ kw uttderrc￿ew. The B08rd Iw tak¢D due Considmtson of GO￿ &vernanre- A Codefor ih¢ Voltsfvtlory ond Comm¥nity Sector ('Ihe Cod¢?. eosuring that its %even wincwl¢s of th¢ Code aT¢ adhcrcd ￿. Th¢sr are: OtrganisatioDai purpDgf, t£4dership' Decisionama]oo& Board effectiveness" Equality. diversity and inclusiots.. alld and acccssibility. Th¢B08rd thaL good gowernante plays an wcntial part itt ￿Uring thc futtwe of the BSB attd confiTmg iha¢i¢follows thc main ptincxplts of thc Co0¢ in Icading, direding artd mgJJagiJ)g the ChaTiry. DunD8 2024 sigoifLC4ntworkh&s bern undert&en to updatc PD]iries andprocedwrs Aswell as theHaDdbodt iswd to all Board and CoJnll)itlee TnetnbETS. ObJethts and actlvldes for the publk beDtflt Th¢ Cbarity's airn attd obj¢￿5 havz noL in ¢5S¢DGf. ¢hanBed $iThc¢ thc BSB was formed in 1824. The Bollrd scets to idettt eliwble pwsons who are in need of&ssistancc. This is done through 8ooial m¢di4.byword of mouth, byarticles or0dvertis￿MiS iti rel¢v4nt auist's Hospital, Old BIUE or BSB publicatiOD5. by pres¢ntsuoDs to Old Blu¢ tlubs, societiC5 ordiniDg grow￿, and by tslks lo othcr groups. Table I show5 the numb¢r5 of Indlvithjals who bencfityl film)) the BSB and any moner4ry &5s1s￿nce Provided. The T&ble cA)mpares th¢ ytar undtt revkew with th¢ prior ye4r. Table I: Eipenditsre and assiBtan¢e Provlded ID accorda•¢e tbe BSB'S ch*rf¢*ble obJeth¢$ AeLiVi 2014 2023 Tota] of appliGatiO reE¢iv¢d from all categories 93, of whieh 20 appli￿￿OnI proceeded 47. of which 26 ppli¢atiws proGEeded Old¢r Adults: paymeDts prM4ded to ad￿lti over *ge 2024 2013 Mty)¢tary ￿l￿tall provided to bcncficl￿itS ov¢r 60 10,134 2.474 Adult redpiellts: paynyents prnvlded t• advlts betwteR 18 60 2024 2023 New gr4rÈts 15 21,294 22 45,685 THE BENEVOLENT SOCIETY OF BLUES TRUSTEES, 200th ANNUAL REPORT {eonllnutd) Ob ¢ctive8 and Acthddes for the ubllc benefit eontin¥ed Pttpil redpftnts: pa)Th￿ts direct to CK In¢ludthgACF 2024 2023 20 Tr4vcI attd other needs 6 pupils and ovu 30 fdmili¢8 965iSted 17,122 10 pvpiis attd 27 fomilits &ssisted 7,816 ACF Sitiglr 8fdnt 35.000 Single grollt 35,QIK Lo￿S Ireeoveredl (5J98) (5,5331 Toégl of dlr¢d chartt#bie eXpendi￿re £78,152 £85,442 rt eosts 2024 2023 Grants to olderbeneficiaries Grants to otherbgneficiwies Gran¢8 Lu ¥wrrcnt 8.271 17,381 42.546 4.406 32.976 30,905 3.994 TO¢￿ Support cthti £63,792 £61,673 ImYestM¢nl meDt costs 76 Totwl relourcei e dÈd £165 £147 Ils Tbc Dutttbrr of applicatiOll6 for assi8taoce wa8 higkn¢t in the 2023124 ye•r thall in 202Y23. althou8h a proportiott of them were not eligsble for help. In 2023124, £10.134 wa8 prvvid¢d by way of to 2 oldubeneficiari2s (2022123.. 3, £2,474) (aged 60 and overl. For sorne yeaT6, the Board sou8ht to increase the amount provided under this ¢a*gory and this will r2main priority ar￿ of focus. 6 pllpils [c￿1Ved dirertfllw)Gial as$L8tance durinB th¢ year, in addition to th¢ 8ntwai siDgle conniblltion to tb6 Additiondl Costs Fund IACFI •drninistc￿a by Christ's Hospital, ￿thich 8iv¢s aswstAnce to pupils on the hi8he5t levcls o(bur$ary who are in nee including for clothes. travel and f(thl. Financial grants were provided to n)ore than 30 fomilie8 wbo were decmcd th]ring di6CUS8iotts with Chtiu's H￿pital to b¢ d)thm"OB Itard5hip, illcluding rccrffd wnounts wovlded by way of Christm&s bampcrs b) those olost in nKd. Amongst wlicant6 aged 18 to 60, &ss>stanrK amounting to £21,294 WHS ￿veTh by way of grants to 15 iftdividua15 and £20,247 provided b). way of Itttere￿ free loans to 11 12023.. 10 - £28,345). Othtts of voryitt8 age5 needed &ssistallc¢ through encountering social or fjnancial problcms of one sort or aTrother. Apart fro]n loans for ¢ducotiouai career d¢v¢10pn￿llt purpo￿￿. supportbLS mO￿￿Su8iIY be¢nby way vfgr8t)t, tar8¢ted as precisely as possible 4> to do thc most good. Somclbrnes thiA is combined wth advicL Some beneficiarTres ￿Ce7Ved b)th gtants and loans. The Dir¢¢tOTS confllmthutth¢y have referrcdto th¢ 8uidance confain￿ its the Charity Commi5510n's gcncraj guid&nc¢ ortpublic bett¢fJt wh¢n r¢vi¢wiJ)g the BSB'S aim alld objectivt5 and in platiniD8 flltt￿ artiViti￿ And providing b¢lp iti the fornj of gift granrs or lows or any ￿MbinatiON of thesc. The ChAtity pur¢hAsed no pupil pr¢sentations io thc scbool duTing the year atsd expcctg tl> PUTthas¢ nn prestn14tstsDS in 2025. The DIr￿1￿[S arr always glNd ts) hear of potenval caudidatcs for pre5¢ntation. THE BENEVOLENT SOCIETY OF BLUES TRUSTEES, 200" ANNUAL REPORT (eolltlnued) Finally, it is alBO itnportaDI to emphasise that the BSB gives as8i8tance that 15 ttOnrytnot)etary. Callin8 on the cxptrfise of the Board attdits Col)￿cts8Od thehardwoTk tsfthe Sccrttsry, marty itidividu21s wttegiven advicestt￿ somecases, were rcdjrccted ¢0 i)*licr aFprowiatc agencic& One applicant was visited at home. A recwrent theme ceniinued (o be h¢lp for $tud¢nts to plan tbeir fLD20ce4 parti"¢lllatty t&h)se embarkin8 On Wswaduale courses. tll SOMC C4s¢s, advice wa5 giveD ￿ additioD to fjnatyciai WPPOTL Over 30 pwl¢ website applicatioNsbut did not then take ihis to wmpktion. Thc BooTd consth that the ovcrall l¢vds of direct chari¢3bl¢ cx￿di￿ rewescnl wi gpprowiate baiaDce bctwccn mrc¢ing thc BSB'S ch&ritAble objraives attd thaintaitiitig its capit￿ ba5& There wos att operatin8 d¢ficrt of £88,052 in 2023124, &saitt￿ a 8urplw of £26.347 in 2022123. The operatin8 d¢fi¢ii ar05e duc to the change ￿ th¢ 8trn¢tyire Andpurpo8e of theinvc8lmcnL fimd8 discus5￿ ￿li)w. whicb also gavr ris¢ to gains ￿ investt)ient assEts. The totsl gains on investtn¢nt assets were £492,613 ID 2023124 (202Z123.. £129.1￿9). Incoming rewurfes TAble 2 shows tbc ineothiti8 fithds availabk for us¢by th¢ ￿arity duritig th¢ 2023124 yc¥r. with Comparable fi8urN shown for 2022123. ThBdttTetettccs bdwetn curreotyearandprior year du¢ tothe chanyc tothc Structhye and purp05eof the ￿yest￿￿ent Ilmd4 frompTirnarily in¢om¢ generation to capiral growth. resulting in only a ymall amoutjt of i￿vestM￿l in¢ome in 2023124 of £2,973, (2022123.. £108,368). P1&15C 5e¢ p8g¢ 6 in thi8 Report and Not¢ 5 to thc Account5 fora fvil¢rexplaDation. We did 8¢¢ 3 CDtstiti￿a iti¢re&* in de￿it interthpaid by the inv¢stty¢nt platiry thc l¥tttrTefl¢ctill8thcretwn of b¢rL¢fi¢ial intutst yxt¢s Thcamowii t¢¢¢ivedby way of mcmbership subscriptions l￿d up reasonably wdl. givEn (h¢8en¢raJ dowoW￿d tr¢nd of earlier Ye￿5. Donaiion8w¢re broadty 5imi18fto thewevi(N35 yearaMd4 l¢gacie$were re¢eiv¢d,. the bighest value dottation rcttived w * lega¢y of £28,000. The Board is Kral¢ful 10 ail who Benerously rcmcrnherthe BSB. eith￿ by doftation nr le8a¢y. Thc ttumber of iDdividuals with l(wKs outstandiDg at th¢ ¢ud of th¢ year wa5 155. 55 iodividu8is n￿de repayrnents of some sort with 6 cle4rin8 their l¢)att (2022123.. 150 104ts8 62 makins rep￿ts and S 104ns fully r¢paid). eome for the year rnded 30 Ju•e21W Table 2: Incomlllg resounes 2024 2023 IDeouw Tuiiiirtts of * vo]un(•ry SuE6cr&ptious {itic. lax recovered) 24.828 27,470 Donations 6,475 7.020 L¢Bacies 38.OD5 28,224 Total vol￿t$ry £69JO8 £62,714 Distribution5 froJD investment t11202 DwD8it interest Is¢e note below table} 2,973 108,368 4.987 2,380 Totsl illvestment income £7960 £IIIX748 Totsl fiDeotlllllg resou￿ £77268 £173,462 155 lov￿& outstanditJ8, 55 madc ' r¢payrnent4 in¢. 6 fuuy repayin8. 150 104DS outstallding 62 made rqjaym￿ts, inc. 5 tully RepA￿ents of lothi Tot81108ll r¢ £25A811 £16,586 TItE BENEVOLENT SOCIETY OF BLUES TRUSTEES, 200" ANNUAL REPORT (¢on¢lnDed) Prov181•n$ for loans ID Tecent yE8rs, substsntiai provision been madc Hgain8t loans vthich 8Tr UDlikety to be recovered reCo￿ls&n￿ th8t the dilf1￿￿ fittatscia] clinJat¢ has bornc most harshly OD thos¢ itt th¢ greatcsi n¢¥d. A pnjdent approacb has becn adDPtcd in rc¢Mt years toprovisioning Against outsthttdill8 loan5. Jts2023124, 1be Ch¥ityrcduccdth¢ overall levcl of theprovi8jDD held by £5,398 {2023: £5.533). Thenet trM)ok valu¢ L)f Ihe loan portfolio is now £¥l.267 (2023.. £82.6D2), which is ¢wsid¢r¢d to b¢ realistic. All The ChJrRty'$ IDvu¢rn•iti Futkds imrnedia(ely Tequircd fw chaTitsble pwx)ses are held I￿ 2 spread of illvestmcnts, maftaged thxough Trans2t4 the inveskneni plarform owned managed by Llltrgrat￿ FIDanrial Arr8nganeTrts I￿lted. In April 21n4, th¢ Board approved & mised Invcstm¢nr P91icy Sta¢¢m¢n4 which inclu(ks an allocation poli¢y that sets out r￿g¢S for the holdin85 of diff¢r•]L ciasses alld proportiotss ot'investsnents, whethcr us 8ifL4 the fonn of donation5 and legacics. but when projtcung income for%vard li is noi pNdenL to rely on any significant receip(s from such SOUTCt5. CowequeDt]y, tIEe CI￿lty has to maintain a sizeable portfolio of Investrt￿ts to gcnent¢ illcom¢ tha4 togeth with sub￿[prI0￿5 from membus. wall euBbl¢ it to defray the expcnditttre Lec¢ss8ry ts) meet its charitablr objcctivi*. Th¢ necessary value of the inycstmeyit portfolio is tbr faetor del￿￿1￿8 the levtl Df fiwds whkch th¢ ClJaTity to tnasMraiJk as its prrmanent eadowTUCtst Atsd reservcs. Som¢ nlargtn is also neede4110 allow for adverse fluciualions in si(Kk marketvalue& Thc re8ervt5 policy recO￿lse$ that a furtber clement of Ic5crvGs is nec&&8ary 10 support th¢ trK)ok value of the int<￿¢ fr¢¢ loaus becau8e, by their Dth]r¢, the an)Dunt and umitig of repaytneJM of loans cannot be awJra*ly antlcipatr Quantili¢atÉon orth¢ required pemJau¢n¢ ￿dow￿¢llt and resr¥es in ac¢ordallCt with thc aEA)ve polLCy 8iYe5 rise to a figure of £1.94 tDilllon at 30 Juoe 2024. This c(XDW¢S with th¢ acLual total funds in the baL8ts¢e sb¢et at that dat¢ of £4.40 mil]ion. TItE BENEVOLENf SOCIETY OF BLUES TRusfEES' 200" ANNUAL REPORT 'Th¢ ED￿d h&% Ide￿¢d lo tho Cod¢ ofFDn&aising Pftctice I'*h¢ Co(k" Ythich w*s developed by thc fimdratw through th¢ work of tht Insutut£ of FuttdwiJ8 8nd bjbiic Fwthi8iD8 AISDCi•tio￿ and the on Chu1￿¢% xryd FuThdraiaitig iwKd by th (knties Corftmissioii ITC2￿￿. They ¢onfiTm that thc new Code and CC20 Ill￿ fy) IMp￿t tyt tlte Ea¢h yur the Boardwckn¥ Fithati¢iaL wlueh try'¢¢ts th¢r¢levaDt ovcrthe fthYyt4rt p]aw Frnvi thc b￿$ ofthe ofth¢wDit¢d &q ittdir4t¢d abovr. ThE frrdD the FiDEno1￿ FI￿ is th¢ need the l¢vd of BU￿￿ti.0￿8 to the (knyty, *yd to th•t th&itable tXFthdiDxec4nlinuts 8uffKiart to the Clwity to meet ila mary obie¢tof helping el38lbkpr¥￿llS #re-ill hgrd¥hip ￿din￿￿'￿￿*1X￿JA1*t￿ thtTe•i ¥￿u¢ of its ¢•pit•l Tht Bo•yd is RYatcfi￿ ttr au wbo bawe se*ved oth 118 V4ri(MJs ¢otwtJitt2rs thc >Tw. Th¢ tharity IB beavay rebiDt 00 vohwtary ¢(¥￿11M)ll0DÈ of Aud cffort. The P￿d 1$ 8lway8 more Vol￿tter$ to 8UiXFith Ib# work of thE Fioaity. the BLwd mldlske ￿ ￿Y tri￿lle to theh9rd work a¥)d enthuy&%tu of the Sw•. hlir w&1￿ h•5 sbowk DOtabl¢ ifftiuaknvt in Trjn&￿Tr8 rnpidly •nd ex￿1*nI th¢ SDcsW'S rt4¢h of ¢knritsble Deed had DOL C•yWkk idth) IOZS Truwr¢r 2•2$ Thz BENEVOIINT SOCIETY OF BLULS TRUSTEES, 200th ANNUAL REPORT 3. 8 •ud 12 1r¢¢krt￿bythE iti *cOrdA￿*￿t￿ th¢ pf Il* Rub. The BrthTdmAyabw lo to fill v¥tthCi￿W￿￿l fdlowin8 AGM. By Orkn •flknBotrd C31d j￿ne 2CiL5 (d•tr) THE BENEVOLENT SOCIETY OF BLUES STATEMENT OF FINANCL4L A￿1VITIEs fortbe Ye￿ tndtd 30 Jvue 2024 Note Unrestrleted Restrtded Futtdi FuThd 1024 2023 In¢omlng rewur¢¢s of * yo￿￿￿ry natiitt: Subscriptio￿5 includitig tax iccovcred Donations itiGluthng tu rtcowcred L¢8aGi¢s 24,828 6,475 24,828 6,47S 27.470 7,020 28 62 IDv¢Jtmettt lllctsmv. Distsibutitsns from invesitntnt tsi)atll8eis Dqjosil illteresl 2,973 1973 108,368 Totsl IDCO]DiDg Expendltsr¢ ExpeDdlthr¢ OD ch8rknble attfvllS¢1: A551statsee $upport £￿ts A&sastancc for benefici￿leS GraJts to other beneficaaTies sup[￿ 8rants ￿ pupils Provisions fordoub￿l Ilwo¢lltsof th¢Charity's employees dwÈn8 the year. Pejjsion costs £3,390 (2023.. £3,094) dr¢ in¢luded. Thc av¢r8g¢ nwnbcr of the S(Kicty'& cmpluyrc$ v4as 112023.. 1). SalllTies attd sutwort costs aFwonioned to thrvaTiOUS catC8ories ofthe ¢horAtabl¢ activities. 3. Governw¢e costs Gov¢rnance cu5¢s iti¢ludcd £5.898 {2023: £6.300) in res￿¢1 of auti¢yted audiiors. iemuoeration. Thi$ 18 apportio￿a to the various catcgorics of the thtritabl¢ t￿1vities. Non¢ of thc Trnstett, Dir¢¢tors or ComTDittt¢ metllbcrs recciyed sny muneration. 12 THE BENEVOLENT SOCIETY OF BLUES NOTES TO THE AccouKrs for th¢ye•r ¢Dded 30 2024 (coDDDurd) 4. Analy￿ of ¢h*rltable xdvldrf Thc Ckniry widcnakes Tts cbanthble adiViti¢g througb grant*iving ￿dIOT loan pravision to a￿1# pcrson4 cthiutcd or b¢ing eduutyj ot Christ's Hospital or their fatiEilic& w past tn¢mbcrs of stsff with no Iw th$￿ tell years. service. who arr irn Dee hardship rr di51rcsJ. T>Trei Df ¢h*rlt*ble adfvlty Dlrert S¥pport 2024 Totsl 2023 Total Gtallts to oldc¥ bM¢fJciaries (&8e 6TrF) Grants to other benefietuies (hatsts to Qu￿¢￿¢ pupits Lo￿5 (reeovcrcd) 10,134 21,294 52,122 (5,398) 8,271 17,381 41546 {4,406) 18,405 38.675 94.668 (9,804) 4,260 78.661 73,721 (9,527) 15 141 Eatly in the financial ycot. tbe Charity caffied out a ¢omprehu)sive switch of iJv¢g¢ttJrtJi fwids from adtvely mana8rf income• produ¢in8 funds io & pwive•sryIE Portfolio that is now utsd¢rpiDDed by accumulhtion uui(S 50 thit iDfOm¢ produrr41 T￿10 its fvnds is now rolled up w produ¢¢ further capitsl grollrtb. TwoThatcr￿I ¢oJ)s¢quenees of d￿t ¢han8es 4r¢: Both non-Endowmets¢ Alld EDdowrncni wrtfdÉos now follow similar Stra￿gieS for mAna8ing Ative5th1￿1 rAsk,' i. . utiii5in8 the SaTDe spttad af tvidett¢e￿a3¢4 systematit investment mdh(dolo8y that differ ollly in wopothin5 of Equiry thl Bond &8set cla*%cs &$ illustrated within tbts Note to the aecowits pa8cs 16 & 17. 2nd Tbc rntirc Jupiter MeAitt B31anc¢d Porrfo150 fimd that ootionally undcTrioo¢d tbc Endowmart (R¢5triGtal fulld was disposEd of on 27th S¢ptrmber 2023, maittly dut toits hi8h ¢hArgin8 slructure and poor k*rforn]an¢o. Oth¢r fvnds in the I￿n.Et￿WMt￿t w¢re also ￿lAVested by 5th 0¢￿be￿ 2023. These actions werc taken followillg adviceT¢ceived from Ro¢kWealth Linuted durin8 thc yeAr. NON-ENDOIVMENT PORTFOUO •1.•7A3 Addltjoni Dl¥poEAIx 3￿0&14 By Fid¢lkty [￿d￿ UK FuJ)d P (Acc) Van8uard FTSE Dev World ex 59,135 (58,886) 1249) 531.041 (529.143) (1,898) DIM￿s1O￿al UK Valll¢ Dim¢nsioDal UK SrnAU Companies Dim¢nsional Value GBP 35.782 35,321 ,371 1,832 (37.033} (35,674) (120) (1,479) ljjtwnatim￿l 363,548 10,172 {375,623) 1.903 Global 373,358 373 (362,616) [11.115) Cowies GBP DimcDsional Global short￿￿ted Bottd (Gr066) Dimellsiothai Em¢rBitt8 Markds TaTg¥ted Value GBP Va[w￿d EmttgJngMarkets Sto¢k lttdex GBP 492,716 1,221 (495,126) 1.189 190,035 (192,498) 463 119,027 5,545 (123,46ts) (1,104) Totth £2.199.963 £20,514 £(2,210,1167) 19,410) 13 THE BENEVOLENf SOCIETY OF BLUES NOTES TO THE ACCOUNTS for theyexr ended 30 Junt 2(124 Icontiou¢dl S. Investments IcoDtittued) NON-ENDOWMENT PORTFOLIO (coDt'O) Funds a¢quiTed in thenon-ETthwmen( portfolio and tknr movement during the Ye￿ 2023r24. DlspoigJ¥ Oi.•723 Add111￿$ Gal 30.116.24 Ern¢r8itiS M¥kets Cor¢ Equity {Acc) 306253 (13,836) 39,288 331.705 Dimension21 Glob8] Short Dat￿ Bood (A￿) 218.752 19J15) 8.423 217.860 Dim¢nsioDal Global T8r8¢ted Value {Ac¢) 519.099 (26,062) 71,376 564,413 Dimen*onal Stttlin8 Tnflation- linked IntrrnJ&Ji8te Dwatioll Fixed Ine (A¢c) 218.752 (9.493) 12.883 222.142 iSbfjre$ UK Equity Index D {Acc) 41875 (1,996) 6,(Ki5 46,884 Vkttguard FfsE Developed Wc>Ad ¢x-UK Equiry Indcx Ittst Plus (A￿) 586,474 128.526) 118,247 676.195 Vanguard Global Sbort-Ttnll Bond Indtx Inst Plus (Ax) 21&751 19J27) 9.103 218J27 V￿¥￿ard Global Sm&ll£ap Index Fund Lmst PILS (Aecl 76.563 {3.521) 9,668 82.710 Noll-EDdoYnDtht tt)ts] elt. T•taii £0 £2,187519 I(1￿,076) £274,993 £2J60,436 Thc disposals showtt in the table 8bov¢ took placc ID Jutsr 2024 to support a rcqur8t to topup the Trnns&ct Casb RescTVC (sec N￿¢ 7vn page In. ENDOWMENT PORTFOLIO 111.lJ7.23 Alditlo 3￿06.24 Jupiter Merlin Portfolio (IDC) Balattc £l,fA16.636 ql,632,651) £26.015 £0 The Jupi*cr Merliti Balanced Portfolio Income fvnd was sold on 27 Scptcmber 2023. 14 THE BENEVOLENT SOCIETY OF BLUES NOTES TO THE ACCOUNTS for the ytw thded JO Junt 2024 (Continue IDve8tm¢nii {¢Qntltt￿ed) Ef4DOWMENT PORTFOLIO {eolli'd) Fwth acqU￿¢d iu thc EJdownLetttportfolto aod their movem¢Dt dwitig d)ey¢ar 2023124. 01.0723 Addltloni Ibl￿o￿all Galn 3W0&24 Dim¢Dsional Etnergin Markets Corr Equity (Acc) 261,224 (1.414) 29,403 289213 DimeDsionai Global Short Dawi BO￿ (Accl 108.930 4,339 113269 Dimensional GlobA] Targeted Value (Art) 444,517 45,258 489.775 Din￿t￿OnI[ Sterlittg lftflation-liftked Intcrn￿di&te DuratioD Fixcd Inc {Acc) 108,020 5,234 113354 iSbare5 UK Eqwty I￿leX D (Acc) 37.￿2 4,262 41264 Vangmard FTSE Dev¢lopcd World ¢x- UK Eqwty Illd￿ Jnsl Plus {Acc) 5¢M),429 102,051 602.480 VW Global Short.Terni Bond Index InsLPkns (knc) 108,765 4,803 113,568 Van8uaTd Glow SDJallQap llldcx Futsd knst Plus (A¢¢) 65,329 6,665 71,994 TOTAL £1.634.216 1,414) £202,015 £1,8J4,817 15 THE BENEVOLENT SOCIETY OF BLUES NOTES TO THE ACCOUNTS for the year ettdtd 30 June 2•24 (¢Oniillued) lThwe8¢M¢Dt6 (conthiu 01.07.23 Addltlono G&ln8ll•s8 30.06.24 NDn-EDdowment porLfolio 2,J99J63 I21￿1133 (2,3A2,145) 164,583 2J60A36 Endtswmertt p(3rtfolio J.606h36 J,634316 {1,634,0651 124030 1034017 Totaj lllvejtment the Tr*n$a¢t plAlforni t 30 JUD¢ 2024 £3006J99 £1,842249 a3,9463•8) £491613 £4,19$253 Total Aov¢smicnt gains for the yeaT of £494613 represent a Wdin of12.940A ovcr 2021123 values (befor¢ aCco￿lillg for n¢t disposals of £103.957). Thc ori8inal cosl of th¢ ittveslments wa8 £2,629.19612023.. £1610,096) 6. 1024 2023 The moYem¢nt in loalls was a5 follows". Balallce brousht forward on l July th¢ ye8J Loat)s advanced in the year Loat)s Icpaid in thc y Adiuslment in provision for lo￿5 UDlik¢ly to b¢ recvvered Adjustrneni$ for ovrpaid loans and l overpa>Treni T¢fund 82.602 20247 {25,480) 5.398 500 75,340 28.345 {26.586) 5.533 {30) BalaJw¢ caniedfornmtd oo 30 Jun¢ th the year 83,267 82.￿1 The dates fereonjmencemcttt of loan T￿Y￿ents ore tsotalways spe¢ified, Jjor is the ratt of r¢payJneut t)onnally laid down. The valuE o110￿$ ¢xp¢cted tobe r¢paid aft¢r moTe thatt one yw is apwOxim￿cIY £55,IKM) (2023: £55,000). All loan$ art iTrt¢tr6t ftee. 7. C*5h bslllttces 2024 2•23 BaDk bajances Transatt Ctyth Account 13.316 120.747 18,348 74.732 134.063 93.080 8. Debtorj Dcbtors of £0 {2023'. £29.754) are amounts ow¢d in inv¢s¢meni income ID rtssFct orth¢ Chwiry'$ holdillgs on th¢ Tr￿SA investment pla(forn 16 THE BENEVOLENT SOCIETY OF BLUES NOTES TO ThE Accouiirs (tsr the year ¢]hded 30 Jllnt 2024 (Contitiu￿) g. Funds AS at 30 June I￿2 fiv¢ separate fvnds weTe merged into one fvnd ralled the GcnEral Fund. After allo¢atiov of sUbsequ￿t movements in funds (principally illv¢stm¢nt gains). (h¢ re%ulting (Rianoe on the CTencrai Fund ￿ fornially adoptcd as th¢ Pcnxwicn¢ Endowment of thc Charity 81 a Board rn¢¢tiDg on 14 Oaobtr 2000. Subs¢qu¢llt movc4ll¢nt5 of fimds havc continurd to bc &llocatrd as appropriate ktweerÉ the Perman¢ut Endowment and Rcs¢tv¢s. Thr movemetti in fund8 duriti8 the y¢arw&8 follows.. UDrestt4¢t¢d Fuuds IReservt$) Restri¢ted Fund$ (PermaDcDtEDdowmeDt} Totgl Ftslldj Balanccs * l July 2023 Nct lo$$ before invulm￿l gains Investmmi gains 2283,688 (88.0521 264.563 I,V12,IX12 3,995,61X> (88,052) 492,613 228.030 Balatt￿s at 30 Juu¢ 2024 2,460.219 1,940,032 4,400351 Th¢ funiL% compYi¥cd." Investments Net cun¢nt a5scts 2.360,436 99.783 1.834.617 105,215 4.195.253 204,998 Total 2,460219 1,940.032 4.400,251 Th¢ To￿tteS have complet¢ discrdton ov¢r ¢h¢u8¢ of the Unre6tri¢led Funds irt pursuanrL of th¢ Charity's objtctivts. The Trusttts are committed to p¢rnwiettdy maintainini the whol¢ of tbe fund they h4v¢ detcrMi￿￿ as the PerJuatsent ENIowD)rnL This fund ¢aTwoi thet¢for4 t¢ spot &8 if it w¢re incom 10. Rd%ted p#rty traJs•di••$ Thcre h&ve betyi no ￿lated paw tran5actiOnS in the Twiin8 p¢riod and no Tntsm recei7￿1 any TCTminwauon during the ycar to 30 Jwi¢ 2024 {2023: £Nil). 17 THE BENEVOLENT SOCIETY OF BLUES NOTES TO THE Accouwrs for the year ended 30 June 2024 IcoDtinu¢d) The caTryillg amounrs of the Chan"ty'$ f]naDcial itistruments aT¢ IS follows.. Flnandal A&*ets M¢asured at farvaiuc tIYou8b SOFA: 2024 2023 Fixed asset quotrd ttivesttlleM& Cash underrnanagemenl Cash ai bank Lw Debwrs Acc￿ed itio)me 4.193,253 120.747 13,316 83267 3.806,599 74.732 18.348 82.602 29.754 IRAnci*I Uabfilld Mewred * amortised ¢08l: Creditors & A¢en￿lS duc witbill OAt¢ y¢ar 12,332 16J45 The incom4 ¢xpezw& nei gains alld net Iossc5 attrilNtable ￿ the ChaTity'S fittan¢i&l in5trnmettts are summarised &$ follows.. ITh¢omew￿ uptnie 2024 2023 atfair v8h¢throuBh SOFA: Net 8aiDS on invcstsE)ents 492,613 129.069 18 THE BENEVOLENT SOCIETY OF BLUES Jr4DEPENDENT AUDITOR?S RF.PORT TO THE TRUSTEES OF THE BENEVOLEhT SOCIETY OF BLUES OplDlon Wc havc audited the fthau¢iai statethettt8 of Th¢ B￿eVolC￿t Society of Blues C￿¢ Chariry) for the year ended 30 June 2024 which conyisc the S*Wwn¢ttt of Fina￿￿81 A￿1V>￿t4 the B3lao¢¢ Sbect the r22. B*sl$ for •plDIfj Wc CoDdUG*￿ audit iti accordattc£ with International St&Ddard8 OJJ AuditiDg (UK) {ISAs (UK)) and applicable law. Oyr r¢sDott$ibilititsuDdcrthose stwJdatth8rtfurfker described iu th¢ auditor's responsibiliti¢5 fvrthr ttuditof the financial thtsmrttts section of ourrwn. We 2r¢ Indepe￿At￿t of th¢ Chrity in accordan￿ with thetthitai requircmet2ts that ￿treleva￿tt0 ow audit of thc fiDall¢ial Sta￿lents in th¢ UK, iDcludityB the Finallcial Reporting CwDcil'8 Ethicat and we h&v¢ fdfilled our other cthxcal ￿sponsibl11ticS ID accwd2*¢¢ with th¢st rtyllirenKttts. We b¢li¢ve that the audit ¢vid¢Nc¢ w¢ hov¢ obtaioed 15 $￿￿lelent ftDd &ppropriats 10 PfOVtd¢ &bo8is for ow opinion. CtprKlusloni rtl8tlng to zolng contwtt In auditing th¢ stateme1￿ w¢ have concluded tbat the Tru5t¢es' use of the 80in8 conc¢w iwis of in the preparnioD of the ftttattcial ststerne￿ts is apprw4t¢. B&8cd on the work w¢ have perfornrf we have ttot identtficd any rllaferial unwtaillties relatiDg to CVfDLS or cDnditioJJs tb*i indivAdually QT collecltvcly, may cast sigrtificant doubt on tbc Charity's llbility to continue a5 a gowg ¢on¢¢m for a penod of at I￿51 Iwdvr ￿o￿th$ from when thc financial stattmtllts arc authoristd for issue. Our re41onsibilities dnd the respthsibiliti¢8 ofthe TtU6tee8 with re5pe¢t to going ¢otscern are describcd in the relcvallt 5¢ctio of this teport. Other Inf•rnAtIo The othu infrmnation comprisEs the wfonDation includ¢d in thB Trust¢¢8' 200 AMlluaL Report 8nd Financial StLtemtn¢ ctthcr tht fjJw￿1al slatrments Lwr awlitOT'5 re￿ thereon, The trUS￿¢s aje resporLsibl¢ for the othtr ]nfOrn￿lI00 conl&iD¢d withih th¢a￿nUal rcp)rl. Our opiftiw on the financial statem¢nts docs no¢cov¢r theoLheT inforniation and w¢ do ¢XPT¢SS Ally fomi of 88suraac¢ ¢on¢lwion thueon. Oor responsibility 1$ to read the other inforniation in doit18 $0, COD5id¢r wb¢th¢r the oth¢r inforDBtion is matrria]ly ittEonsistent with th¢ financial stAtemenis or our knowledge obtaincd ikn the fDurse of the audit QT Qthetwise aPpe￿[S to b¢ maierially misstaie¢L If w< idEntsfy such material incon5iStencie$ or apparcni materiAI mi&statements, we are rÈquirtd to det¢rnJiDc whethts this gives rise ￿ a Materi￿ misststement in thc fiD8llGial &totemellts thernselvc8. tf. based on the WO￿ we havc wrfomi¢¢ w¢ Cor￿[￿de that itKr¢ is ) mataibl Mi&*t¢n￿nI of this other infom]aiioJ4 we are rquired to rcport that fact. Wc have nothiog ￿ repjrt in thi5 reg￿d. 19 THE BENEVOLENT SOCIETY OF BLUES INDEPENDETIT AUDITOR'S REPORT TO THE TRUSTEES OF THE BENEVOLENT SOCIETY OF BLUF£ {continued) Matt¢rs ott whSch M'e are requfrred to reyortby exceytlon W¢ have notbill8 to report in r¢6M of tbe folltswing D)at¢¢rs ffttL re1￿L0• lo whi¢h the Charities (Accounts atsd Reports) Regulations 2008 r4uire u$ to report to you if. in oui opinion.. th¢ infoTmation ￿Ven in the fTUSte¢s' 200 Armuaj Reix)rt 18 itiCODSlS¢¢Ot iti atty rnateri￿ res￿1 with the fu￿￿￿]•1 statuorllts. or th¢ ChaTi¢y has not kept ad4uatc a¢coutt¢ing recLYth; or the fthattcial thi¢mcnL8 ate lloi ij) awementwith the aCWUlltin8 r￿Ord&. or wc havc )Joi Y￿e1Ved all the ittfomMtioD and explaDa¢ion8 we r¢guirt (or 0￿ audiL Respon51blUtles olThistee5 Ag explained mor¢ fvIIy ID the TNuees' Te6ponsibiiitie6 staiement set out on page & the Trustees are respottsibk for thE preparntioD of the fittancial 5tstenKnts aDd for satisfjcd that thry ￿ve a true f&ir view, and f(K sucb Intern￿ control as the Tru5tres dciurninc 15 nc(tssary to enablc thc pr¢paration of fin8n¢ial stat¢mcnts thai fr￿ from matuial wisstawJ whethcr due to fraud or ¢ryor. In prwi1￿ the fmg]kcial statements. thc TtU5tee& arc rtspomsible for a￿6$1￿￿ the Ci)ariry's ability to continuc as a going cone¢m, th'%lostrtgJ &$ applicable. nMtt¢rs r¢i&ted to goitig concern and using th¥ going c4)ncern b&%15 of ace4)untiDg unltsg th¢ Trusttts wther 3ntCDd to liqwdstr the Charity vr to ¢¢ase operaLiOllS, or have no realistiG altotJ2tivc but to doso. AudttoT's rwon5Abillllu for the audll of the Ilmatteial itattments Wr hav¢been 8ppoitited 85 auditor Und￿Sectio]I 145 of the Cboritieskni 2011 and report in accordatsc¢withtheAGtandr¢l¢v4ut re8u14tiws Jnade or bavith8 effect Ehcreundcr. Our obje¢tiv¢s are to obtain rcasonable a6suran¢e about wbether the financial ststement5 as a wbok are free trom matttial misstatem¢n( wh¢thu due to fraud or ¢tror, and to i55u¢ aD 4Luditor's rcwrt that inrlud¢5 ow opiniuty. ReasDDthte assur&nc¢ is hLgb levttl of assurance. 1$ nol a guaranltc thal Art audit ¢ondwted iti aCCordw￿¢ with ISAS (UK) wiu alw&y$ d¢te£i A material misstaternentwhen it ¢xists. Mi&S￿lements can arise from fraud orerror and are considered material if, indil'ld￿lIY or in tbc aggregat4 they could r¢a80J￿lY be exp¢ct¢d to tbe e¢oDomic dccisiotss of users taken on th¢ bgsi8 of th&s¢ fuJan¢ial 5tatem¢nts. lffegularities. in¢luding frau(L ar¢instonG￿ ofnon-cornplian¢e with laws and r¢gulations. W¢ desi8n proccdwts in linc wth our rwk)nsibilLti¢8, Outlined abov¢, to dettctrtsatcrial misst2tementsin rtsp¢Gi of irr¢gui2riti¢4, InCh￿l￿g fraud. The extetti towhi¢h othr procedures are tapablc of dcicGliMg irr¢B￿aritiGI, includmg fyaud i8 detsiledb¢low. Our 8sse8sment of th¢ sus¢¢piibiliiy of the ¢ntity's fJnaDcial sLaigm¢ttts Lo material missiat¢rneMt, in¢lvding how fraud mi8hi cur. is consldcred to be low. Thss condusion was re4ched after th¢ tonsider&iioTr of th¢ follo￿1 dtte to the relattvely simplc b￿￿ne$S model and low numbcr of [r￿]S11ClIonS within thr Charity th¢re are ¢omp&rativ¢ly few unexpected fluGDJllUOnS in the r¢ported itrsults aod balances and atty uncxpceted it¢n)s wou]d be wif&cally thquired into by u5- and thtte llrc a number of Individuaiswhi¢b ¢omprise'knznag¢ntent" and th¢reforethcre ts sitsgle individual who is likely to be &bl¢ io ov¢tTide ¢oDtrols lo ¢ffegt a fraud. Wc J￿Isn ollr audit proccdurt8 to respond to idcntificd audit risk4 including non￿0T￿pIllrtCg IAWS and re8ulatiOm5 (irregularities) that aye tnaicritl to the fman¢ial statem￿ts. Som¢ of the SPEcsfic piocrdurts pertormed to detect irregulariucs, n¢ludiDg fraud are detailed brlow: the r¢vAew of CODtrol a¢counts xt]d jounul entries for 1¥8e. urtusuai or uttalltborise41 entrie tbe ana]yts'cal revi¢w ofthe detailed statement of fIn￿la1 a¢tiviues for vvtiantts that ar¢ ￿￿eTUnexP￿ or feli not to be in accordance ow undus￿nding of the Charitsble acLlVitics during ¢h¢ year: 20 THE BENEVOLENT SOCIETY OF BLUES JNDEPENDENT AUDITORIS REPORT TO THE TRUSTEL8 OF THE BENEVOLENT soaETY OF BLiTFS {continu¢d) obtaining and reviewing for Compl¢t¢n￿ a li8t of ¢nttslc* per￿n8 considered to be related Wies (as derth￿ by Fknci81 Stothrd 102) and r¢vi¢wiDg th¢ l*¥ of the Cbatiry fw previo￿qly UDIr￿rtrd related Iranwtion review ofTruslees m¢￿1￿8 mimjos f(* uwewrdol knxn9trtlO￿ and discu￿1(￿ with the Trust￿ the Clwity's to cnwre that all tknitsble inc(Thc the was ethtr1I￿ ts 18 Because of Ibc Inhe￿￿11￿1[￿tiOaS of ￿ wdi4 th¥¢is a iiuk ilwt w¢ will all Itr¢8utsTiti¢4 includitig those le•din8 to 4 m*ri41 mi5slfttemenl in the ltstrmtnts or Dun%4)mplianEe with wula¢ion. Thi5 iisk incr¢atcs the more thit )mpliancE with a IN or resul￿10ft li removed frun the events and ¢r4n6￿110ll6 rtfiwt¢d th th¢ finanrial sW¢mw 48we wlll be less likely to IKeL￿e sw￿¢ of of Tr)n￿on￿lian￿ The rfsk ii alBo ycat¢T irre8lltsriues (hxto fraud rathrrthNll tyror, 4 fraud involv¢s illt¢nti0ts41 forg￿> ornisiion or m1sBKrse￿[ A fiyLI￿r delayi￿lOn of ow re80K)nM￿l2IttV¥ is I￿111b1c on the Fimnctal Reports￿ Counul's .. Thii d￿1￿1￿1 of ow auditr*'% reixxt. •f••r rwrt This rEpDrt ismth Golelyto the Ch￿try'S TNatre4 u A i*, in4r￿danc£ with PEn 4 ofthe Ch8Tities (Aco)￿tsa￿dRep1Xty) Re8ulafiOnS 2008. WLTk haB been 80 that we ll￿8￿1 tste to the Charity'8 Trustees those rnatters we are T¢quired to #ate to thrm ID auditvF5rAxirtAnd ftrno othttpuTP￿ Tg thEfi￿¢￿ exteni bylaw. we donot ttcctpt or 86sUn￿￿OI￿Thj1ltyt0anyollt othcrthatt thteh8rAty andthe Tharity'i T￿￿tte8 as a Ikidy. forour audit WOTL fort1￿8 re for the coinionswehave forn)e Rawlin*M & Avd¥t LLP Eighth Fk ONew Str¢e¢ sqU￿r New Fcttu 14n¢ EC4A 3AQ IZ 3 R&wIl￿ & IlU￿erAudft LLP tsellglble io acl a¥ am ternt oJtsclion J212 0lth¢ CompaniesAd 20 21 THE BENEVOLENT SOCIETY OF BLUES SUMMARY STAIEMENT OF FifwciAL A￿lTIEs Cor the Ilvey¢•r8 ¢lld￿ 3(lJvn¢ 2024 2024 2022 2(ni 21)2• COME Substtiprions rkntions al￿ Iwie5 Disrtibutions aud iot¢t¥st 24,828 44.480 7,960 27.470 35244 110.746 28,195 25,IT2 5&298 31,903 40J82 90,162 73.839 7Q585 77268 173.462 111.665 162.467 177231 Assi8taTh¢¢ fw oltsrt¢neficÉaries 10.134 21294 51122 (5J981 1474 45.685 41816 15,533) 850 45,040 38.060 12,570) 2,195 23,177 42,565 20334 1.650 19.081 59.863 11674 Support topwJ]Js Llww wilikdy to be tec4)VU 74152 85.442 81 J81) 88371 93,268 l*v¢sLTnent mmgement costs 23 J76 Salw akndswwsts 57,898 55J73 $3974 S9369 39.348 5,894 5,6(Kl S,OCX> Total resources ¢sp¢nd 165,320 147,115 140,954 152,YO 137.616 Netlncomihg (88,052) 26J47 129289) 9907 39.615 N¢t gAIn￿o￿￿¢s) ￿ Investm•it$ 491613 129.069 (2(N,483) 555,847 I144,￿5) Nel movemeM¢ In liinds 404,561 155.416 33,77¥ 565.754 {105 290 Not¢.. This pag¢ do¢snotfornipart of the An]JuoJ Report. 22