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 2024
CONTENTS
| Page | |
|---|---|
| 3-4 | Reference and Administrative Information |
| 4-8 | Council Members’Report |
| 9 | Independent Examiner’s Report |
| 10 | Income and Expenditure Account |
| 11 | Balance Sheet |
| 12-16 | Notes to the Financial Statements |
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(a charitable company limited by guarantee)
The Church Welfare Association (Incorporated)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE INFORMATION
Status
The Church Welfare Association is a charitable company limited by guarantee and not having a share capital, incorporated on 30 November 1910, and registered as a charity on 18 October 1962.
REGISTERED COMPANY NUMBER: 00112964 REGISTERED CHARITY NUMBER: 209992
Registered Office: 45 The Avenue Southampton SO17 1XP
Trustees / Directors
The following trustees (the Council) are also directors of the charitable company: Lorraine Briffitt (Chair) Madelaine Thomas-Goddard (Vice Chair) Mark Heybourne Laurence Singlehurst Mark Wakeling (Hon. Treasurer until resigned as Trustee 5 April 2024) Rev Hugo Foxwood (Hon. Treasurer and Trustee from 25 September 2024) Josephine Knowles (from 25 September 2024) Natalie Jones (from 5 January 2024)
Legal Advisers
Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES
Investment Advisers
Charles Stanley & Co. Limited (to 11 March 2024) 25 Ropemaker Street London EC2Y 9LY Epworth Investment Management Limited 25 Tavistock Place London WC1H 9SF CCLA Investment Management Limited 1 Angel Lane
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
London EC4R 3AB
Bankers
Lloyds Bank plc 25 Gresham Street London EC2V 7HN
COUNCIL MEMBERS’ REPORT
The Council of Trustees and the directors of the charitable company have pleasure in submitting their Council Member’s Annual Report and Accounts for the year ended 31 December 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure
The company is limited by guarantee and does not have a share capital. Members of the charity guarantee to contribute an amount not exceeding £1, to the charity in the event of winding up.
Governing Document
The company was incorporated on 30 November 1910 under a memorandum of association, which established the objects and powers of the charitable company, and it is governed under its articles of association as amended by special resolutions passed on 19 November 1953, 18 February 1954 and 25 October 1995, and resolution made under Section 74(2) of The Charities Act 1993 on 25 January 1999.
Management
Trustees
The Council of Trustees determine the general policy of the Association. It is the policy of the Association to achieve the objects of the Association.
Collaborative Agreement
A Collaborative Agreement between the Charity and Beyond the Streets (BTS) signed on 20 June 2022 includes the provision of administrative support by BTS.
Deed of Grant
A Deed of Grant Agreement between the Charity (grantor) and BTS (grantee) signed on 7 July 2022 makes a conditional provision for a grant of £163,125 annually between 2022 and 2026.
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The Church Welfare Association (Incorporated) (a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
OBJECTS
The Association is an established corporation administering monies for the benefit of Social Work in connection with the Church of England. It can also:
-
make maintenance grants to residential projects undertaking the shelter, training or rehabilitation of women or girls, with or without infants, in need of care and moral support;
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support Day Care projects designed to assist and support children, particularly single parent families, and;
-
act as custodian Trustee for relevant properties, and provide grants to retired persons who have worked on Church Social Work.
DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GAAP).
The directors are required to prepare the report of the Trustees and financial statements for each financial period, which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including income and expenditure for the period. In preparing those financial statements accounts, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
This report has been prepared in accordance with the small companies regime under section 419(2) of the Companies Act 2006, and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102.
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
Background
The purpose of the Church Welfare Association is to provide support for women who have been exploited or are at risk of being exploited through prostitution.
Its aims have widened over the years to support residential and day care projects, holiday clubs, parenting courses for teenagers etc., most of which function in deprived areas. Poverty disproportionately affects women and children and most projects in this field of work function on very tight budgets, usually with the invaluable help of many volunteers.
Public Benefit
The Church Welfare Association is a public benefit entity under FRS 102.
The Trustees have undertaken to ensure compliance with the Charity Commission’s public benefit guidance when setting grant-making policy and reviewing the aims and objectives of the charity, and of the charities linked to it.
Summary of the Year
Looking back on 2024, I am again grateful to the other members of the Board; their dedication and commitment has helped the charity continue to give small grants to numerous projects in the UK.
This year has been marked by significant developments and a continued commitment to our mission of giving grants to projects who support women exploited in the UK sex industry, (with a particular focus on those trapped in 'survival sex'). The responsibility to make a meaningful impact in such a complex and under-resourced area weighs heavily on each trustee. Therefore, the strategic planning on how to better use and target our grants has been imperative.
Board Recruitment & Development
In 2023 the Board recognised the need for more female voices and a younger perspective. We were delighted to welcome Natalie Jones in January 2024, as she brought fresh energy and dedication. In September 2024, we welcomed Josephine Knowles and Rev Hugo Foxwood, with Hugo stepping into the role of Treasurer. Their expertise and passion have already made a substantial impact.
Mark Wakeling - formerly honorary treasurer - stepped down in Spring 2024, which highlighted the need for more voices with sector knowledge of current VAWG (Violence Against Women and Girls) issues and challenges. Josephine Knowles began advising the Board in Summer 2024, bringing her decades of experience and passion for impact and equity even more fully when she joined as Trustee in September 2024.
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
Strategy
In September 2024 we held a Strategy Afternoon in Reading. This was facilitated by a dedicated Task and Finish Group and was pivotal in starting to reshape our future direction. We discussed the adequacy of our grant amounts and the need for greater diversity and representation from individuals with frontline experience. Key issues, such as the wording on the website and the charity's name, were raised and will be addressed in the full Spring 2025 Strategy Day.
The day will focus on key elements like which specific topics (within the group of projects and charities our remit allows) or challenges could receive grants, the name of the charity and terminology that our charity uses. I am confident our dedicated trustees will help to recast our vision and thus make a meaningful difference.
Board Meetings
Our Board convened four times in 2024 to review our progress and make strategic decisions. We also continued our work on ethical investments, with Hugo's background enhancing our integrity and fiscal wisdom in this area.
Lorraine Briffitt
Chair of Trustees
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
Summary of Transactions and the Financial Position as at 31 December 2024
During the year under review the value of the Church Welfare Association (Incorporated) funds decreased overall to £1,011,163 (2023: £1,154,926) as shown on Page 10 of the financial statements.
The charity awarded 8 grants to various organisations amounting to £190,125 (2023: £190,125). Grants awarded to the charity Beyond the Streets comprised the third of five annual grants of £163,125 (2023: £163,125 but which remained unpaid as at 31 December 2023). Smaller grants paid to other organisations working with women experiencing or vulnerable to sexual exploitation were:
-
£3,000, The Saffires Project, Knighton Free Church [Diocese of Leicester] Parlour Outreach
-
£3,000, The Jericho Road Project [Diocese of Nottingham] Supporting those affected by the sex industry and sex work in Nottingham
-
£3,000, The Elizabeth Fry Charity [Diocese of Reading] Accommodation and assistance to vulnerable women
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£3,000, Beloved, St Agnes Church, Bristol [Diocese of Bristol] Support to women working in the indoor sex industry in the Bristol area
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£6,000, Orchards [Clapham, Diocese of Southwark] Safe housing for women in sexually-exploitative situations
-
£3,000, Jacob’s Well [Diocese of Leeds] Restore
-
£3000, City Life Church [Southampton, Diocese of Winchester] Amber Chaplains
-
£3000, Azalea [Diocese of Luton]
Sustainable transformation in lives impacted by sex trafficking
The value of CWA’s investments, shown at Market Value unless otherwise stated, decreased overall to £599,134 (2023: £1,277,472) as shown on Page 11. This reflected a decision to sell investments, and hold cash, prior to reinvesting gradually in 2025.
Investments
The management of the Association’s investments on a day to day basis is overseen by the Hon. Treasurer and the Association’s investment advisers. The guidelines that have been set down are for both capital growth and income with medium risk.
On behalf of the Board
Rev Hugo Foxwood
Page 8 of 16
The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
EXAMINERS REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF THE CHURCH WELFARE ASSOCIATION (INCORPORATED)
I report on the financial statements for the year ended 31 December 2024 set out on Pages 10 to 16.
Responsibilities and Basis of Report
As the charity’s Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The charity’s Trustees consider that an audit is not required for the year under section 144(2) of the Charities Act (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner’s Report
As the company’s gross income did not exceed £250,000, I confirm that I am qualified to undertake the examination.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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i. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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ii. the accounts do not accord with those accounting records; or
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iii. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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iv. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities
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.
Michael John Harris MIAB M J Harris Solutions 18a Church Road Bishopstoke Eastleigh SO50 6BH
Page 9 of 16
The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)
| Note Incoming Resources Donations Investment Income 2 Other Incoming Resources Total Incoming Resources Resources Expended Direct Charitable Expenditure Grants Management & Administration of the Charity 3 Total Resources Expended Net Incoming Resources Less Resources Expended Transfers-in Gains (or Losses) On Disposal of Fixed Assets Net Unrealised Investment Gains (or Losses) on Revaluation Net Movement in Funds Balances brought forward 1 January Balances carried forward 31 December |
2024 2023 £ £ 50 - 40,165 39,775 1 - |
|---|---|
| 40,216 39,775 |
|
| 190,125 190,125 5,962 14,000 |
|
| 196,087 204,125 |
|
| (155,871) (164,350) - - (9,365) 11,945 54,739 21,473 |
|
| (143,764) (97,667) 1,154,926 1,252,593 |
|
| 1,011,163 1,154,926 |
Page 10 of 16
The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
BALANCE SHEET
| Note Fixed Assets Investments 4 Current Assets Accrued Income Income held by Agents Cash at Bank & with Agents 5 Total Current Assets Current Liabilities Creditors: Amounts falling due within one year Net Assets Represented by Unrestricted Reserves 6 |
2024 £ £ 599,134 185 1,648 411,717 413,551 (1,523) 1,011,163 |
2024 £ £ 599,134 185 1,648 411,717 413,551 (1,523) 1,011,163 |
2023 £ £ 1,277,472 194 3,147 38,498 41,838 (164,383) 1,154,926 |
|---|---|---|---|
| 413,551 (1,523) |
|||
| 1,011,163 | 1,154,926 |
For the year ended 31 December 2024, the company was entitled to exemption from audit under Section 477 Companies Act 2016, and no notice has been deposited under Section 476. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records, which comply with Section 386, and preparing accounts, which give a true and fair view of the state of affairs of the company as at the end of the period and of its income and expenditure for the financial report, in accordance with the requirements of Section 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
All figures shown have been rounded to the nearest £1.
On behalf of the Board
…………………………………………….
08 09 2025 Dated ……/….../………
Rev Hugo Foxwood Director
Page 11 of 16
The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. NOTES TO THE FINANCIAL STATEMENTS
1.1. Accounting Convention
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, and the Companies Act 2006.
The charity meets the definition of the public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note below.
The accounts have been prepared on the ongoing concern basis. There are no material uncertainties about the charity’s ability to continue.
1.2. Basis of Preparation
The financial statements are prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid.
1.3. Income
Investment income comprises interest and dividends received in the year from the Fund’s investments, and includes any associated taxation that is recoverable from HMRC.
Grant income and donations are recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
1.4. Expenditure
Expenditure is recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
1.5. Fund Accounting
The charity holds unrestricted funds incorporating the following legacies:
Miss Elsie Hearne HF Musket and Miss L W Bell
All other income less expenses of the charity are held in unrestricted funds. The charity holds no Designated or Restricted Funds.
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
1.6. Gains and Losses on Investment Assets
The realised gain or loss arising on the sale of the Fund’s investments is calculated as the difference between the sale of proceeds and the given Market Value at the previous 31 December or the cost if purchased during the year. The unrealised gain or loss is the adjustment required to state investments at the given Market Value at the year end.
1.7. Fixed Assets
The Investments held by the Fund at 31 December are included in the Balance Sheet at Market Value unless stated otherwise in Note 4.
2. Investment Income
| Dividend Income Charles Stanley & Co Investment portfolio Dividends from other Shares Epworth Investment Management (Epworth) portfolio CCLA - COIF Charities Investment/Fixed Interest Funds CCLA - CBF CofE Investment Fund Bank Interest Epworth - Affirmative Deposit Fund CCLA - COIF Charities Deposit Fund CCLA - CBF CofE Deposit Fund Total Investment Income |
2024 2023 £ £ 1,816 23,426 1,428 4,166 7,876 - 4,215 8,731 2,047 2,016 22,551 - - 173 689 804 |
|---|---|
| 40,165 39,775 |
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. Management and Administrative Charges
| Trustees and Officers Expenses Administrative Fees Accountancy Fees Stockbrokers Fees Investment Fees (Charles Stanley & Co) Fees & Expenses (Epworth) Legal & Professional Fees Website Fees Printing and Postage Companies House Fees Filing Fees Late Filing Penalties Bank Charges & Interest Paid Total Management & Administrative Charges |
2024 2023 £ £ 284 - 2,025 1,200 953 928 1,036 9,467 1,557 1,603 - - 43 35 18 34 - 750 30 - |
|---|---|
| 5,962 14,000 |
The Association has no staff. No member of the Council received any remuneration during the year. Expenses incurred on behalf of the Association reimbursed to members or related parties thereof were £164 (2023: £65).
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. Tangible Fixed Assets – Investments
| Listed Securities Listed Securities Listed Securities Listed Securities Listed Securities Cash Held at Brokers CCLA [COIF] (Bid-Market Value) CCLA [CBF CofE] (Bid-Market Value) Other Shares Epworth Charles Stanley & Co Charles Stanley & Co £ £ £ £ £ £ As at 1 January2024 334,096 73,738 - 168,856 691,521 9,260 |
Total £ 1,277,472 |
|---|---|
| Less Additions (50,317) - Add Disposals: sale proceeds 49,399 679,858 Revaluations 9,815 1,688 10,337 (680,226) |
(50,317) 729,258 (658,386) |
| Net unrealised gains (or losses) 9,815 1,688 9,420 (367) Transfers Gains (or losses) on disposals 2,298 (11,663) Adjusts, net cash movements (776) (679,491) (9,260) |
20,555 (9,365) (689,527) |
| As at 31 December 2024 343,911 75,426 - 179,797 - - |
599,134 |
Note: Investments are listed here at Market Value (unless otherwise shown)
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The Church Welfare Association (Incorporated)
(a charitable company limited by guarantee)
REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Investments including at Market Value Companies Listed Securities Other Fixed assets Total Investments . Cash at Bank and with Agents Cash at Bank - Lloyds Cash on Deposit – Epworth [Affirmative Deposit Fund] Cash on Deposit - CCLA [COIF] Cash on Deposit - CCLA [CBF CofE] Total Cash at Bank and with Agents |
2024 2023 £ £ 599,134 1,268,212 - 9,260 |
|---|---|
| 599,134 1,277,472 |
|
| 2024 2023 £ £ 38,572 22,884 357,533 2 - - 15,612 15,612 411,717 38,498 |
5. Cash at Bank and with Agents
6. Liability of Members
The Company is limited by guarantee, having no share capital and under the terms of the Memorandum of Association every member of the company undertakes to contribute to the assets of the company in the event of it being wound up which he or she is a member, or within one year after he or she ceases to be a member, such act as may be required not exceeding one Pound.
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