The Church Welfare Association (Incorporated) (a charitable company limited by guarantee) Company Number 00112964 Charity Number 209992 REPORTS AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2023
CONTENTS 34 Reference and Administrative Information Council Members, Re ort Inde endent Examiner's Re ort Income and Ex enditure Account Balance Sheet Notes to the Financial Statements 10 11-16 Page 2 of 15
The Church Welfare Association (Incorporated) {a charilabte cc4npany limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE INFORMATION Slatus The Church Welfare A880¢Ialion 18 a charitable company limited by guarantee and not having 8 share pItal, inrpOrated on 30 November 1910, and registered as a charity on 18 October 1962. REGISTERED COMPANY NUMBER. 00112964 REGISTERED CHARITY NUMBER.. 209992 Re9iStered Office.. 45 The Avenue Southampton S017 1XP Trustees l Dlrectors The followng truste•s lthe Coundll ar• also dirtOrS of the charitable company.. Lorraine Briffitt (Chair) Rev Hugo Foxwood- resigned 14 Sep 2023 Madelaine Thornas•Goddard (Vice Chair} Mark Heyboum• Laurence Singlehurst Mark waken9 (Hon. Treasurer) Legal Advlsers Anthony Cdlins Solicitors LLP 134 Edrnund Strett 8imiingham 83 2ES Investment Advlsern Charles Stanley & Co. Limrted 55 Bishopsgate London EC2N 3AS Evrth Investrnent Management Umited 8onhill Street London EC2A 4PE CCLA Invesb))ent Management Limited 85 Oueen Wetoria Street London EC4V 4ET Page 3 of 15
The Church Welfare Association (Incorporated) la charitable panY limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Bankern Lloyds Bank plc 25 Gresham Street London EC2V 7HN COUNCIL MEMBERS, REPORT The Counal of Trugtees and the directors of the charitsble company have eaSUre In $ubmitting their Council Memberfs Annual Report and Aount5 for the year ended 31 December 2023. STRUCTURE, GOVERNANCE AND MANAGEMENT Structure The Company is limited by guarantee and does not have a share caprtal. Members of the charity guarantse to contn'bute an amount not exceeding £1, to the charity in the event of nding up. Governlng Document The company wa8 incorporated on 30 November 1910 under a memorandum of associats'on. which e8tsblished the cbje¢ts and pywers of the charitable company, and it 1$ govemed under ts artides of assouation as amended by Speryal resolutions passed on 19 November 19S3, 18 Febwary 1954 and 25 October 1995, and resolution made under Section 74121 of The Charities Act 1993 on 25 January 1999. Management Tru¥tso• The Counul of Trustees detemine the general polbcy olthe As8ocA4ltsn. It 1$ the poli of the A590tyation lo achieve the objects of the A$$oaation. Collabornllv• Agrnem•nt A Collaboratsve Agreement btttsvèen the Charty and Beyond the Streets (BTS) 81gned on 20 June 2022 includes the provigon of administrattve support by BTS. Dwd of Grnnl A Deed of Grant Agreement befvn the Chartty {grantorl and BTS Igwteel signed on 7 July 2022 makes a condiional provision for a grant of £163.125 annually befven 2022 nd 2026. Page4 of 15
The Church Welfare Association (Incorporated) la ¢harrtable company limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECTS The Ass¥atiOn is an establlshed corporalion admlntstering monles for the benefit of Sou81 Work in ¢onneclbon with the Church of England. It can also.. make maintenance grants to residential projects undertaking the Shelter, training or rehabilitation of wom•n or gids, with orwithou¢ infants. In need olcare and moral support., 5UPPOrt Day ca projects designed to aswst and Support children, particularfy Single lent families, and., act as cu$todSan Trustee for relevant preve"e3, and prode grants to r•lir& persons vkno have work•d on Churth S1?1 Work. DIRECTORS. RESPONSIBIUTIES The dire¢tor8 are responsible for preparing the report of the Trustees and the financial statements in a¢Idance wtth aPIcable law and United Kingdom Generally Accepted A¢Unting Practice (UK GAAPI. The directors are Tequlred lo prepart the report ofthe Trustees and finanaal statements for each financial period, which give a true and fair view of the stale of affairs of the charitsble company and of its incominy re8our¢es and application of resources. induding Income and expendilLtr¢ for the riod. In preparing those flnanri81 stst•ments aC&nts. the directors are required to.. select suitable accountsn9 poliries and then opply them consistenyy., make judgemen18 and estimates that are reasonable and prudent.. Stste whether applicable accounting stsndards and statements of recommended practs'¢e have been followed. sub)'ect lo any materfal departure$ disdo$ed and explained in the financial ytatements., Prepare the accounlg the going concem basis unless It 1$ Inappropriatè lo presume that the company will continue in operation. The directors are responsible for keeping adequate accounting records which disdose ith asOnable accuracy al any time th& financial position of the company and lo tsnabl• them lo ensure that the financial Statements comply wth the Companies Act 2006. They are also re8pQnwe for safeguarding the assets ofthe company and hence for taking reasonable steps for the prevention and deleclon of fraud and other irregularitie$ This report has been pr¢pared in accordance Trmth the small companles regime under sedion 419121 of the Companies Act 2006, and in accordance Accounting and Reporb'ng by Chartties.. Statement of Recommended Pracb'ce applicable lo charilios preparing their accourts in accordance wbth FRS 102. Paga Sof 15
The Church Welfare Association (Incorporated) 18 charitable cc¥npany limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENTS AND PERFORMANCE Background The purpose of the Chuth Welfare Association is to provide support for women have been exploited or are * ri$k of being eXplted through pro$tutIOn. Its 8ims have wdened over the years to support SIdential and day care pmjecls, holiday cluby, parenting courses for teenagerg etc., most ofwhich function in deprived ¥ra$. Povety di5proportionatety affects women and children and most proj•¢ts in this eld of wot fvnction on very tight budgets. usually v¢ith the invaluable help of many volurrteers. Publlc 8eneflt The Church Welfare A880datSon Is a put4ic benefll entity undor FRS 102. The Trustees have undertaken to ensure ¢ompliance the Charity Ccmmisslon's public benefit guidance vthen setbng grantvmaking policy and revlewing the aims and oty'eclives of the chority, and of the ¢haritits link*d to It. Summary of the Year Havlng join the board In Summer 2022. thi8 18 my flrst full year as Chair of CWA. l am gratefiJl to all the members oflhfj Board for their commitment and supptsrt during this lime. There were significant changes to the Board year, meaning sp•nt much of 2023 con$olidab"ng, geeklng lo develop as a team. We havg wntinued our financial support of Beyond the Streets, resourcing them to support women vulnerable lo Sexual exploitab'on across the UK. Beyond the Streets have also offered CWA administrational support during this period of consolidation and Board MeMr rde transityon8. During the year, the Tnsstees met Ihree times, meets'ng to rewew apICa and awor(I funding vthere we saw resonance and alignment vthh th• core objectives of CWA. We also look more time lo pause and nSider how best lo deliver on our original objectives- to support women who are currently, or at risk of. being exploited through the UK sex industy. This rewew is ongoing, and a fvll Strategy Session will tske a¢e in Autumn 2024, bringing in expervse from the sector and hearing from Beyond the Street's new CEO. Lorralne Brbffltt Chalr of Tru#t Page6 of 15
The Church Welfare Association (Incorporated) la charrtable ¢rynpany limited by guarantee} REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW Surnmary of Transactlons and the Flnanclal Posltlon as at 31 Decembèr 2023 During the year under review the value of the Churd7 Welfare Association Ilncorporated) funds decreased overall to £1.154.926 {2022.' £1.252,5931 as 5hovm on Page 9 of the financial $tslements. The charity awaed 8 gfants to Various organi8ations amounbng to £190,125 {2022'. £196,725). Grants awarded lo the charity Beyond the Streets comprised the second of five annual grgnls of £163,125 but vthich remained unpaid as at 31 December 2023 12022.. £163,125). Smaller grants patd lo olh&r organisati¢)ns wothng wilh women expellencing or vulnerabk to sexual exploitabon were.. £3,000. The S8ffires Prqe¢L Knighton Free ChLtrch tDio¢ex of Leicesterl Partour Outr88ch £6,000, Embrace 8imingham, Coventy Elim Church IDisxese of Covenlryl Supportlng f8mgle on slrnet s&x-wort6rs in the Wesl Midlands £5,000, Lovewell IBristol City. Diocese of BristtAI Social entense supporting and training women who have gxp8ri8nced lrnum8 thft)ugh trnfficking and exploitotm £3.000, The Jericho Road Project IDiocese of Nottinghaml Supportirig those affect8d by the sex Industry and sax wort in Nottingham £3,000, The Muitard Trèe Foundation IOlo¢es• ol R•adin91 Rahab £3.000, Harbour Church tDloce8e of Portsmouthl V8 £4,000, City Life Church Isouthampton, Diocese of WThnd)esterS Amber Chaplains The vglue of CWA'Y investments. shown al maet Value unkss otherwse stated, increased overall lo £1,277.47212022.' £1,216,916) as shovm on Page 10. Investments The management of the A550¢iation's Investments on a day to day basis is overseen by the Hon. Treasurer and the A$$oaation's investment adviserg. The guidelines that have been ¥el down are for both capital grovth and i1me medium risk. On bohalf of th• Board Mark Hoyboum• Jf oq24 Pagé 7 of 15
The Church Welfare Association (Incorporated) {8 charitable company limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 EXAMINERS REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF THE CHURCH WELFARE ASSOCIATION (INCORPORATED) report on the finan¢i4 8tstements forthe year endeil 31 December 2023 set out on Pages 9 to 15. Responslbllltles and Bas18 of Report As the ¢harity'$ Trustees of the company land also its directors for tht purposes of company lawl you are responsible for the preparab'on of the accounts in accordance with the requirements of the Companies Act 20061.lhe 2006 Artl. The charity's Trustees consider that an audit is not required for the year under section 144121 of the Charities Act (the 2011 Act) and that an independent examin•tson 1$ needed. Having Safjsfied myself that thè accounts of the company are not requId to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of youi charity's accoun15 as carried out under Section 145 of the Charitles Acl 2011 {the'2011 Act'l. In carrying out my examinkn'on I have followed the Directions given by the Chanty Commission under section 14515llb} of the 2011 Act Independent ExamIne Report As the company's gro¥s income did not exceed £250.000, I confim) that l am qualthed to undertake the examlnallon. I have completed my examination. I nfirni that no matters have come to my attention in connection Vith the examination giwng me cauye lo believe.. accountrng record$ were not kept in respect of the company 98 required by section 386 of the 2006 Ad: or the accounts do not accord wth those aOunting record$', or the accounts do not comply with the a¢¢ountsng requirements of section 396 of the 2006 Act otherthan 3ny requirement that the accounts give a 'lrue and fal view vknich is not a matter considered as part of an ind•p¢ndenl examination., or the a¢¢ounts have not been prepared in accordance wth the methods and principles of the Ststement of Remrnened practice for accounting and reporting by chafitses iv. I have no concems and have come acro no other matters in connecbon wth the examination to whith attention should be dravm in this rtrport in ord8r to enable a proper under¥landing of the aCCOLtnts to be reached. Mlchaol John Haths MIA8 M J H*rrl8 Solutlon• 18a Church Road Bishopstoke Easueigh S050 68H Page8of 15
The Church Welfare Association (Incorporated) (a charf(able company limrted by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF FINANCIAL ACTIVITIES (InGluding Income and Expendlture Account) Note 2023 2022 Incomlng Resources Donation8 Irweslment Inc¢xne Tolal In¢omlng Resources Resources Expended Direct Charitable Expendire Grants Management & Administration of the Charty 190,125 196, 125 Total Resources Expanded Net Incomlng Resources Less Resources Expended 1164350) (178,335) Transfer5-in Gains (or Loss8s) On Disposal of Fixed Assets Nel Unrealised Investment Gains (or Logses) on Revaluation 11,945 54,739 (68,561) (131, 769) Net Movement In Fund8 (97,6671 (378,665) Balances brougm fopward 1 January 1,252,593 1.631,258 Balances corrled forward 31 December 1 164926 1252 593 Page9of 15
The Church Welfare Association (Incorporated) la tharilable company limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 BALANCE SHEET Note 2023 2022 Flxed Assets Investments 1,277,472 1,216,916 Current Assets Accrued Income Income held by Agent5 Castt at Bank & with Agents 194 3,147 520 6,947 192 194 Total Current Assets 41,838 199,661 Current Llabllltlo8 Creditor5.' Amounts falling due within one year (164,383) (163,983) Net Assets 1 154926 1252 593 Represented by UnrestrScted Reserves 1 154926 1252 593 For the year ended 31 December 2023, the company was enlrtled lo exemption from audil under Seth'on 477 Companies Act 2016. and no notice has been deposrted undor Section 476. The difectors 8cknovAedge their responsil>'lities for ensuring that the Ck%npany keeps accounting records, vthich comply Se¢tion 386. and preparing accounts. which give a true and lair view of the state of affair5 of the company as 81 the end of the period and of income and expendire for the financial report. in accordan th the qUIreMents of Section 394 and 395, and vthich otherwise compty with the ieqL¢iremenls of the Companies Ad 2006 relating lo accLJunts. $0 far as 4ppllcabk* to the company. The accounts are prepared in accordance with the sp8cial kvovisions ol Part 15 of the Companie5 Act 2006 relating to $m811 ¢cmponie$. All IIgUr showi hav• been rounded to the neafest £1. On halff of tho Board Mari( Hey Dlr•ctor Dated ?.<1.4..9.+. Page 10of15
The Church Welfare Association (Incorporated) l¥ charitable Ctyxpany limited by guarantee} REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1. NOTES TO THE FINANCIAL STATEMENTS 1.1.Accountlng Conventlon The finan¢t ststemgnts have been prepared In accordano with the Financi41 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Accounting and reporting by Charibes.. Ststement of Recommended Practice apF4icable lo charibes pieparing their accounts in accordance FRS 102, and the Companies Act 2006. The Charity meets the definition of the public benefit entity under FRS 102. A$sl$ and lla.hties are initialty recognised at historical ¢ost or transaction value unless oth•Th•&i$e $tsted in the rdevant accounting pollcy note below. The occounl8 have been prepared on the orsoing concem basis. There are no material Uncertainti aboLrt the charity's ability to continue. 1.2. Basls of Preporatlon The Ilnancial statements are prepared on On accruals bas18 and indud• in¢ome and expendlture as th•y are •am•d or in¢urTed. rather than as cash is received or paid. 1.3.Income Investment income compri8e8 interest and dividend¥ received in the year from the Fund's invesbnents. and includes any a88oaaled taxats'on that 18 reCoVerae from HMRC. Grant Income and donatioTr$ are Teccgnised in the Statement of Finanaal Acti11¢3 once the charity has entiuemenl to the funds, il Is prObate that the income will be received and the aNv)unl can be measured rèliably. 1.4. Expendlture EXpendIre Is recognlsed in the wriod in which they are inoJTred. Resourceg expended indude attbut8ble VAT lch Gannol be recovered. 1.5.Fund Accounting The Chanty hold$ unrestricted fijnds inCoOrating the following legacaes". Mis$ Elsie Heame HF Musket and Mi88 L WBdl All other incom& less expenses of the are held in unre8tr1cted fvnds. Th charity hdds no 08gnated or Restrfcted Funds. Page 11 of15
The Church Welfare Association (Incorporated) a charitable company limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1.6. Galns and Losses on Investrnent Assets The realised gain or loss ariyng on the sale of the Fund's investsnents is cCulated as the difference betsveen the sale of proceeds and the given Market ValLt8 al thg previous 3t December or the cost if purchased during the year. The unrealised gabn or Ioss 18 the adjusknent required to state investments at the given Market Value at the year end. 1.7. Flxed Assets The Investments held by the Fund al 31 Decanber are induded in the Balance Sheet at Market Value unless stated otherwise in Note 4. 2. Investment Income 2023 2022 DNidend Incom& Chades Stanley & Co Invesbnent portfolio Dividends from other Share$ Epworth Investment Management (Epworthl portfolio CCLA - COIF Charibes InvestmenVFixed Intere81 Funds CCLA - C8F COE Investment Fund Bank Interest Epworth - Affimative Deposit Fund CCLA- COIF Charities Deposit Fund CCLA- CBF CofE Deposrt Fund 23,426 1,428 4,166 20, 709 5, 732 7,876 9, 194 2,016 40 1.999 206 173 689 Totsl Investment Income Page 12of 15
The Church Welfare Association (Incorporated) la chartsble company limited by guarantee) REPORTS AND ACCOUNTS FOR THE YFAR ENDED 31 DECEMBER 2023 3. Management and Admlnlstratlve Charyes 2023 2022 Trustees and Officer5 Expenses Administrative Fees Accountancy Fees Stockbrd(ers Fees Investment Fees (Chades Stanley & Col Fees & Expenses (Epworthl Legal & Professional Fees Website Fees Printing and Postage Companies House Fees Filing Fees Late Filing Penatties 317 1,200 928 845 9.467 1,603 11,613 1,089 7.421 185 338 35 18 (13) 30Q 750 Totsl Manag•mont & Admlnl•trntlv• Ch•ry The Assoaabon has no ¥taff. No member ofthe Coun¢il Tecdved any remuneration dLtring the year. Expenses incurred on behalf ofthe Assouation reimburaed to member8 or related paldes thereofwere £65 (2022.. £1,089). Page 13of 15
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The Church Welfare Association (Incorporated) la charitable company limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Investments Includlng at Market Value Companle4 2023 2022 Listed Securitie5 Other Fixed asset$ 1,268,212 1, 177, 708 Tot Inv•tytrn•nts 1277 472 1216 916 6. Cash at Bank and wlth Agents 2023 2022 Cash at Bank- Lloyds Cash on Deposit- Epwlyth IAffimialive Deposrt Fundl Cash on Deposit- CCLA ICOIFI Cash on Deposit- CCLA ICBF CofEI 22.884 13,233 163,996 15,612 15,612 Total Cash at Bank and wlth Agont• 6. Llablllty of Mombern The Company is limited by guarantee, hawng no share Capital and under the temis ofthe Memorandum of Assouation every member of the company undert8ke¥ to contribute to the assets of the company In the event of il being wound up vthi¢h he or she is a member, or wthin one year after he or She cea8e8 to be a momtor. such act as may be required not exceeding one Pound. Page 15of15