## **Provision Trade Benevolent Institution**
**Trustees’ Report and Accounts for the year ended 31[st] December 2022**
## **Contents**
|**Trustees’ Report**|**Page 2-3**|
|---|---|
|**Statement of Financial Activities**|**Page 4**|
|**Balance Sheet**|**Page 5**|
|**Notes to the Accounts**|**Page 6-8**|
|**Independent Examiner’s Report**|**Page 9**|
**Registered Charity Number: 209173**
## **THE PROVISON TRADE BENEVOLENT INSTITUTION**
**(Registered Charity No. 209173)**
## **Trustees’ Report for the year ended 31 December 2022**
## **Objectives**
The Charity was established in 1835 to provide financial and other assistance to former members of the Provision and Allied Trades who have found themselves in financially distressed circumstances. Our objectives remain unchanged, but in recent years we have also been able to assist current employees faced with unexpected financial problems. The Trustees believe that the PTBI meets Public Benefit Guidelines because there are many employees and ex-employees of the provision trade, who could potentially become beneficiaries.
## **Structure and Trustees**
Committee of up to 12 Trustees, who are elected at the Annual General Meeting. No Trustee receives remuneration or other benefit from their work with the charity. The Committee meets every three months to consider new grant applications and all other policy matters. Day to day operation is delegated to a part time Secretary & Treasurer. Welfare visits are conducted by a health visitor on a regular basis and when required.
## **Activities and Achievements**
We offer financial assistance to past or current employees in the provision or allied trades, or their dependents. We help by giving quarterly grants or one-off payments to assist with special purchases, home improvements or everyday expenses.
In 2022 we continued to give one-off grants to meet a variety of needs including general living costs, rent arrears, and roof repairs. We were able to keep the quarterly grants at the level of the previous year, and increased the winter gifts to our beneficiaries. A special £70 addition was given to beneficiaries in the June 22 quarterly grant to mark the Queen's Platinum Jubilee. Our welfare visitor maintained the very important personal contact with our beneficiaries, including our new beneficiaries from the Liverpool Provision Trade Guild charity.
We endeavour to inform relevant companies and organisations about the assistance on offer to eligible claimants.
## **Financial Review**
Outgoings exceeded income by just over £35,000 and during the year we took profits from shares to the value of £20,000 and £20,000 of the money received from Liverpool, to cover welfare spending. The decline in stock market values saw our investments decrease from £1,072,571 to £945,440, however investment income increased from just under £32,000 to almost £40,000 as some dividend payments have re-started after Covid.
We are very grateful for continued trade support and the generosity shown by our existing subscribers, and we continue to search for new sources of income and regular subscribers.
The trustees have considered the effect of the turbulent financial and political climate, and although there continues to be uncertainty in investment markets, they deem PTBI sufficiently resourced in the short and medium term to continue its charitable activities: The trustees bear in mind the pressing need to increase the charity's income in order to be able to meet expenditure in the long term.
## **Reserves Policy**
The charity does not hold specific reserves, as any welfare expenditure exceeding income will be covered by liquidating the necessary investment holdings.
Page 2
## **Trustees’ Responsibilities**
Charity law 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 surplus or deficit of the Charity for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue its business.
The trustees are responsible for keeping proper 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 and other irregularities.
## **Registered Address**
17 Clerkenwell Green, London EC1R 0DP
## **Trustees**
|**Trustees**||
|---|---|
|Derek Mersh, Dorset, DT65JY (Chairman)|2009|
|Michael Donovan, West Wickham, BR4 9BA|1995|
|Sarah Davies, Bristol, BS9 1TZ|2002|
|John N Howard, Chearsley, HP18 0BT|2017|
|Philip Langslow, Wilmslow, SK9 7SP|2019|
|C Richard Link, London, W8 4AJ|1982|
|Brian Murrell, Harrogate, HG3 4DE|2020|
|Geoffrey John Pearce, Tunbridge Wells, TN2 5XG|2014|
|Anthony M Stanton, Radlett, WD7 8LD|2011|
|Charles Storr, Leighton Buzzard, LU7 0RJ|2013|
|Mike Mills, Kent, TN13 1JF|2022|
|**Secretary & Treasurer**||
|Mette Barwick, London SW20 9DZ|2008|
|Ruth Hinkel-Pevzner, London W14 0DP|2022|
|**Independent Examiner**||
|G.N.V.Jenkins, 16A High Street, Dorchester-on-Thames, OX10 7HH|2005|
|S Witriol, 3, Spicer Hall, Buxton Road, London N12 0BD|2023|
|**Bankers**||
|National Westminster Bank plc, 134 Aldersgate Street, London, EC1A 4JB|1849|
|**Stockbrokers**||
|Charles Stanley & Co. Ltd., 55 Bishopsgate, London EC2N 3AS||
|Hargreaves Lansdown Ltd., One College Square South, Anchor Road Bristol BS1 5HL|2019|
|(The years denote when first appointed or elected to the PTBI)||
## **Signed on behalf of the Board of Trustees:**
………………………………..
Date: 10[t][h] May 2023
D. Mersh, Chair `
Page 3
## **Provision Trade Benevolent Institution**
## **Statement of Financial Activities for the year ended 31st December 2022**
|**Unrestricted Funds**
**Capital**
**Income**
**Total**
**Total**
**Fund**
**Fund**
**2022**
**2021**
**Note**
**£**
**£**
**£**
**£**
**Incoming Resources:**
**Donations**
**2**
**0**
**0**
**4,195**
**Legacies**
**0**
**0**
**0**
**Investment income**
**38,865**
**38,865**
**31,932**
**Gift Aid recovered**
**754**
**754**
**1,554**
**Subscriptions**
**3**
**6,305**
**6,305**
**6,605**
**Bank compensation**
**606**
**606**
**0**
**0**
**46,530**
**46,530**
**44,286**
**Outgoing Resources:**
**4**
**Charitable activities:**
**Pensions and grants**
**62,390**
**62,390**
**50,626**
**Welfare visitor**
**3,513**
**3,513**
**564**
**0**
**65,903**
**65,903**
**51,190**
**Governance:**
**Secretary/treasurer**
**8,119**
**8,119**
**7,100**
**Postage, printing and misc**
**241**
**241**
**344**
**Stockbroker’s fees**
**5,305**
**5,305**
**5,379**
**Bank charges**
**212**
**212**
**211**
**Independent examiner’s fees**
**1,200**
**1,200**
**600**
**Adjust to standard accruals basis**
**998**
**998**
**0**
**16,075**
**16,075**
**13,634**
**81,978**
**81,978**
**64,824**
**Net outgoing resources**
**-35,448**
**-35,448**
**-20,538**
**Funds received from LPTG**
**42,100**
**Transfer between funds**
**-40,000**
**40,000**
**0**
**0**
**Loss (2021 gain) on investments**
**6**
**-87,131**
**-87,131**
**106,707**
**Net movement in funds**
**-127,131**
**4,552**
**-122,652**
**128,269**
**Funds 31st December 2021**
**1,072,571**
**20,809**
**1,093,380**
**965,111**
**Net movement in funds**
**-127,131**
**4,552**
**-122,579**
**128,269**
**Funds 31st December 2022**
**945,440**
**25,361**
**970,801**
**1,093,380**|**Unrestricted Funds**
**Capital**
**Income**
**Total**
**Total**
**Fund**
**Fund**
**2022**
**2021**
**Note**
**£**
**£**
**£**
**£**
**Incoming Resources:**
**Donations**
**2**
**0**
**0**
**4,195**
**Legacies**
**0**
**0**
**0**
**Investment income**
**38,865**
**38,865**
**31,932**
**Gift Aid recovered**
**754**
**754**
**1,554**
**Subscriptions**
**3**
**6,305**
**6,305**
**6,605**
**Bank compensation**
**606**
**606**
**0**
**0**
**46,530**
**46,530**
**44,286**
**Outgoing Resources:**
**4**
**Charitable activities:**
**Pensions and grants**
**62,390**
**62,390**
**50,626**
**Welfare visitor**
**3,513**
**3,513**
**564**
**0**
**65,903**
**65,903**
**51,190**
**Governance:**
**Secretary/treasurer**
**8,119**
**8,119**
**7,100**
**Postage, printing and misc**
**241**
**241**
**344**
**Stockbroker’s fees**
**5,305**
**5,305**
**5,379**
**Bank charges**
**212**
**212**
**211**
**Independent examiner’s fees**
**1,200**
**1,200**
**600**
**Adjust to standard accruals basis**
**998**
**998**
**0**
**16,075**
**16,075**
**13,634**
**81,978**
**81,978**
**64,824**
**Net outgoing resources**
**-35,448**
**-35,448**
**-20,538**
**Funds received from LPTG**
**42,100**
**Transfer between funds**
**-40,000**
**40,000**
**0**
**0**
**Loss (2021 gain) on investments**
**6**
**-87,131**
**-87,131**
**106,707**
**Net movement in funds**
**-127,131**
**4,552**
**-122,652**
**128,269**
**Funds 31st December 2021**
**1,072,571**
**20,809**
**1,093,380**
**965,111**
**Net movement in funds**
**-127,131**
**4,552**
**-122,579**
**128,269**
**Funds 31st December 2022**
**945,440**
**25,361**
**970,801**
**1,093,380**|**Unrestricted Funds**
**Capital**
**Income**
**Total**
**Total**
**Fund**
**Fund**
**2022**
**2021**
**£**
**£**
**£**
**£**
**0**
**0**
**4,195**
**0**
**0**
**0**
**38,865**
**38,865**
**31,932**
**754**
**754**
**1,554**
**6,305**
**6,305**
**6,605**
**606**
**606**
**0**
**0**
**46,530**
**46,530**
**44,286**
**62,390**
**62,390**
**50,626**
**3,513**
**3,513**
**564**
**0**
**65,903**
**65,903**
**51,190**
**8,119**
**8,119**
**7,100**
**241**
**241**
**344**
**5,305**
**5,305**
**5,379**
**212**
**212**
**211**
**1,200**
**1,200**
**600**
**998**
**998**
**0**
**16,075**
**16,075**
**13,634**
**81,978**
**81,978**
**64,824**
**-35,448**
**-35,448**
**-20,538**
**42,100**
**-40,000**
**40,000**
**0**
**0**
**-87,131**
**-87,131**
**106,707**|**Unrestricted Funds**
**Capital**
**Income**
**Total**
**Total**
**Fund**
**Fund**
**2022**
**2021**
**£**
**£**
**£**
**£**
**0**
**0**
**4,195**
**0**
**0**
**0**
**38,865**
**38,865**
**31,932**
**754**
**754**
**1,554**
**6,305**
**6,305**
**6,605**
**606**
**606**
**0**
**0**
**46,530**
**46,530**
**44,286**
**62,390**
**62,390**
**50,626**
**3,513**
**3,513**
**564**
**0**
**65,903**
**65,903**
**51,190**
**8,119**
**8,119**
**7,100**
**241**
**241**
**344**
**5,305**
**5,305**
**5,379**
**212**
**212**
**211**
**1,200**
**1,200**
**600**
**998**
**998**
**0**
**16,075**
**16,075**
**13,634**
**81,978**
**81,978**
**64,824**
**-35,448**
**-35,448**
**-20,538**
**42,100**
**-40,000**
**40,000**
**0**
**0**
**-87,131**
**-87,131**
**106,707**|
|---|---|---|---|
|||**Capital**
**Fund**
**£**
**0**
**0**
**-40,000**
**-87,131**||
||||**46,530**
**46,530**
**44,286**|
||||**62,390**
**62,390**
**50,626**
**3,513**
**3,513**
**564**|
||||**65,903**
**65,903**
**51,190**|
||||**8,119**
**8,119**
**7,100**
**241**
**241**
**344**
**5,305**
**5,305**
**5,379**
**212**
**212**
**211**
**1,200**
**1,200**
**600**
**998**
**998**
**0**|
||||**16,075**
**16,075**
**13,634**|
||||**81,978**
**81,978**
**64,824**|
||||**-35,448**
**-35,448**
**-20,538**
**42,100**
**40,000**
**0**
**0**
**-87,131**
**106,707**|
||**-127,131**||**4,552**
**-122,652**
**128,269**|
||**1,072,571**
**-127,131**||**20,809**
**1,093,380**
**965,111**
**4,552**
**-122,579**
**128,269**|
||**945,440**||**25,361**
**970,801**
**1,093,380**|
Page 4
## **Provision Trade Benevolent Institution**
## **Balance Sheet as at 31st December 2022**
|**Note**
**Fixed asset investments**
**7**
**Current assets**
**Debtors**
**Investment income**
**Donations**
**Subscriptions**
**Gift Aid receivable**
**Cash at bank**
**Current liabilities**
**Creditors**
**Professional fees**
**Net current assets**
**Net assets**
**Charity Funds**
**8**
**Unrestricted funds**
**Capital**
**Income**|**1,213**
**2,050**
**295**
**24,860**|**2022**
**£**
**945,440**
**25,361**|**1,568**
**500**
**20,696**|**2021**
**£**
**1,072,571**
**20,809**|
|---|---|---|---|---|
||**28,418**||**22,764**||
||**3,057**||**1,955**||
||**3,057**||**1,955**||
||||||
|||**970,801**||**1,093,380**|
|||**945,440**
**25,361**||**1,072,571**
**20,809**|
|||**970,801**||**1,093,380**|
**The notes on pages 6 -8 form part of these accounts**
**Approved by the Trustees on 10[th] May 2023**
**Trustee: D MERSH Trustee: C R S LINK**
Page 5
**Provision Trade Benevolent Institution**
## **Notes to the accounts for the year to 31[st] December 2022**
## **1. Accounting policies**
## **Basis of preparation of financial statements**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
## **Fund Accounting**
The two funds, capital and the income, of the Provision Trade Benevolent Institution are both unrestricted. Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of
## Income
All income is recognised in the statement of financial activities (SOFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to specific categories of income:
- a) Voluntary income received by way of grants, donations gifts and subscriptions is included in full in The Statement of Financial Activities when receivable.
- b) Any investment income is included when receivable.
- c) Any resources from tax claims are included in the SOFA when receivable.
## **Legacy income**
Legacies are included in The Statement of Financial Activities when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
Page 6
**Provision Trade Benevolent Institution**
## **Notes to the accounts for the year to 31[st] December 2022 (continued)**
## **1. Accounting policies (continued)**
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises pensions and grants made and the cost of the welfare visitor in furtherance of the charity’s objectives.
Governance costs include those costs associated with the meeting of the constitutional and statutory requirements of the charity and costs linked to the management of the charity.
Fixed asset investments
Fixed asset investments are carried at market value at the balance sheet date. Revaluation gains or losses are
recognised in the Statement of Financial Activities.
## **2. Income from donations**
Donations relate to the general donations given to support the work of the Provision Trade Benevolent Institution.
## **3. Subscriptions**
The sums fluctuate each year and are treated on a receivable basis. In the current year the total was £6,305 (2021 £6,605)
## **4. Charitable activities**
Charitable activities are detailed in the Statement of Financial Activities on page 3.
## **5. Trustees’ remuneration**
No remuneration or expenses were paid to the Trustees during the year (2020 £ NIL).
Page 7
**Provision Trade Benevolent Institution**
## **Notes to the accounts for the year to 31[st] December 2022 (continued)**
|**6. Investments**
**Valuation as at December 31st 2021**
**Funds received from LPTG**
**Transfer to income account**
**Gain /(loss) on investments:**
**Realised loss**
**Unrealised loss (2021 gain)**
**Net loss (2021 gain) on investments**
**Valuation as at December 31st 2022**
**Investments comprise**
**Quoted investments at market value**
**Balance held by Stockbroker**|**2022**
**£**
**1,072,571**
**-40,000**
**-669**
**-86,462**
**-87,131**
**945,440**
**Valuation**
**31.12.22**
**945,440**
**0**
**0**
**945,440**|**2021**
**£**
**958,864**|
|---|---|---|
|||**40,000**
**-33,000**
**55,127**
**51,580**|
|||**106,707**|
|||**1,072571**|
|||**Valuation**
**31.12.21**
**1,029,004**
**3,567**
**40,000**|
|||**1,072,571**|
Page 8
**Provision Trade Benevolent Institution**
## **Independent Examiner’s Report to the Trustees of the Provision Trade Benevolent Institution**
**I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022.**
**This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.**
## **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 2011 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 2011 Act.**
## **Independent examiner's statement**
**I have completed my examination. I can confirm that no 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 2011 Act; or**
**2. the accounts do not accord with those records; or**
**3. 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.**
**S Witriol Independent Examiner 10[th] May 2023 3, Spicer Hall, Buxton Road, London N12 0BD**
Page 9