Charlty number: 211840 SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND UNAUDITED TRUSTEES, REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND CONTENTS Page Rèferènce and administratlve detalls of the Charlty, Its Trustèès and advlsers Truste8s' raport Independènt examiner's report Statement of flnanclal activities Balance sheet Note8 to tho financlal statements 8-13
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND REFERENCE ANDADMINISTRATIVE DETAILS OFTHE CHARITY, ITS TRUSTEESANDADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Ann Dawson (Chairl Myra Penn Vanessa Billing Rita Beaumont Clare Comerford Catherlne Beal Sandra Morfs Nomia Reynolds Rita Leaman Yvonne Freeman Julie Williams Gwynnèlh Hilary O'Rourke Jane Dav$ Carol Ann Bailey Jillian Palchett Dorcas Akeju Kay Wilkie (resigned 16 Wember 20241 Ruth Hilary Clavering (resigned 16 November 20241 Janel Sioph6r-Clark Iresigrned 18 November 2024} Charlty reglstered number 211840 Prlnclpal offlce 2nd Floor Beckwilh House 1 Welllnglon Road North StoGkport Cheshire SK4 1AF Indgpgndent Examlner Vivien Cross BA (Honsl FCA Vivien Cross Accountancy Services Limited Brackon Clough Slarl Lane Whaley Bridge Derbyshire SK23 7BR Page 1
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report logelher with the financial slalemenls of the Charity for Ihe year 1 April 2024 10 31 March 2025. Structure Governance and Managemant The Benevolent Fund of Soroplimlsl International of Great Britain and Ireland ISIGBI) is an unincorporated associallon and was registered as a charlty. no. 211840 on 28 Mar¢h 1963. The governing document of the Fund was amended on 11 May 2020. The Trustees, one from each region, are elected by the Reglonal Counclls wllhin the United Kingdom, including the Channel Islands and the Isle of Man, and by the National Assoclalion of the Republic of Ireland. In addition, there is one Trustee from the Federalion Management Board of SIGBI Ltd. The Chairman, Secretary and Treasurer are elected by the Trustees from among their nLtmber. ObJeGtlv05 and actlvltles . AGtlvltlos undortakgn to achleve oblectlv0S The object of the charlty Is the relief of wom8n in need who have been. for al least three consecutive years, member5 of a Soropliwisl Club within the United Kingdom lincluding the Channel Islands and the Isle of Manl and the Republ of Ireland and whose membership conlinLses, or if Ihoy have left their club and have not been a mtrmber of a Soropllmlsl club for S years, or al the discrelion of the Trustees. To meet Ils objectives Soroplimisls arg invited lo apply for assistance. To apply they can approach their Region Iruslee or they can apply diroct lo the Seorolary or Chairman. In reviewlng each appllcallon for 8SSiStance, the TrLJslees observe the slrlclesl confidence. Support for applicants may be a quarterly grant lo help the beneficlary wllh day lo day living costs or a one off grant lo meet a particular need or emergency. In the recent past one off grants have b8en given towards costs of specific, nec6sscJry building work and lo a member who was experioncing sliort term flnanclal dlfficullies du8 to being temporarily unable lo work. Applications are received throughout the year with the Chairman, Treasurer, Federatlon Trustee and Secretary making a remMendatIOn with supporting information lo the Trustees. b. Publlc bènafit The trustees conflrm that they have complied with the requirements of section 17 of the Charities Act 2011 10 have due regard to the public benefit guldance published by the Charity Commission for England and Wale8. c. Plans for future perlods The investment company Paradlgm Norlon Flnanclal Planning Ltd is lo be retained to continue lo maximise the investment return obtained by the Fund. The Trustees are grateful lo those members who have included tho B8novolonl Fund in Ihelr wills by leavlng a legacy. The Trustees would also lik8 lo express their thanks to the clubs and regions and Individual members who support the work of the Benevolent Fund by sending in donations, which are gift aiéed where approprlale. AGhievement¥ and performanGg ?. Review of a¢tivitie¥ During the year the charity madè grants lotalling £28,81012024'. £35,714). 11 present or past Soroptimists have been in receipt of assistance. being either quarterly support or one off payments. The Trustees will continue to promote the Fund so that more women Gan benefit. Page 2
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND TRUSTEES. REPORT {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 FinanGial revlew . Going concern The Truste85 are grateful for the ongoing support of the Members of SIGBI Limited, wilhoul which the Charity would b8 unable to provide grants lo the members who arg in need of assislanGe. The grants are wholly funded by investment income, plus levies, donations and bequests from curr8nl and former Members of SIGBI Limited and collected by SIGBI Limited on behall of the Charity. As advisgd £5,000 was withdrawn from investments during the year in order lo enable the payment of beneficlaries. A summary of the results for the year is giv8n in the Slaternenl of Financial Acllviligs on page 6 During the year the total incoming resources were £31,844 (2024.. £34,695). Total outgoing resour¢os were £34,883 {2024- £43,606), and the nel movement In funds was £10,418 deficil12024'. £20,352 surplusl. No Trustee received any remuneration or benefits of any klnd from the Charlly In th& current or previous year. The market value of investments as al the 31 March 2025 was £411,966 {2024: £424.1451. The value of the total nel assets as al 31 MarGh 2025 was £426.473 {2Q24.. £436.8911. b. Rèsorv•$ pollcy The Trustees have examined the requlrem6nl lo malnlaln fret reserves and Qonduded that a reserve of £20,000 should be maintained. The charlly could then be able lo resF)ond irnm8dialely lo requests for help. All of the Charity's funds are unreslrlGled. Golng concern After maklng appropriate enouiries, the Trustees have a reasonable expeclalion that the Charlly has adoquale resources lo continue in operational existece for tho foreseeable future. For this reason. they continue lo adopt the going concern basis in preparing the financial slalements. Further detail$ regarding the adoption of the golng oncern basls can be found in the accounllng poliGies. Structure, governancè and management Constltutlon SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND 8ENEVQLENT FUND is a registered charity, number 211840, and is constiluled under a Trust (Jeed. b. Methods of appolntm•nt or è19Ctlon of Trustees The management of the Charlty is the responsibility of Ihe Trustees who df8 elected and Co-opted under the terms of the Trust deed. Page 3
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. resp0ns1bllles The Trustees are responsible for preparing the Truslees, report and the financlal slalements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Trustees lo prepare financial slalemonls for each financial year which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, includin9 Ils income and expendilLJre. for that period. In preparlng these financial slatemenls, the Trustees are requlred to.. select suitable accounllng pollcies and then apply them consislenlly., observe the methods and principles of the Charities SORP (FRS 1021., make judgments and aGcounling estimates that are reasonable and prudent., state whelhor applicable UK Accounting Standards IFRS 102} have been followed, subject to any material departur8s disclosed and explained in the financial slatèm8ntS', prepare the financial slalemenls on the going concern basis unless il Is Inappropriate to presume that the Charity wlll continue business, The Truste05 are responslble for keeplng adequate accounting records that are sufflclenl to show and explaln the Gharily's transactions and disclose with reasonable accuracy al any lime the financial poslllon of the Charlly and enable them lo ensuie that the flnanclal stslemenls comply wllh the Charities Act 2011, the Charity IAccounls and Reports) Regulallons 2008 and the provisions of the Trust dèed. They are also responsible for safegLtardlng the assets of the Charity and henco for taking reasonable steps for the prevention and detection of fraud and other Irregularities, Approv by order of the members of the board of Tru$le6$ and signed on their behalf by.. Vanessa Bllllng Treasurer Paae 4
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent Examlner's Reporttothè Trustèés of SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND I'th8 Charlty'} I report lo the charity Trustees on my examination of the accounts of the Charlty for the year ended 31 March 2025. Responsibilities and Basls of Report As the Trustees of the Ch8rity you are responsible for the preparation of the accounts In accordance with the requirements of Ihe Charities Act 2011 I'lhe 2011 Act'}. I report in respect of my examination of the Charity's acco¢Jnls carried out under sectlon 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commlsslon under section 14515llbl of the 2011 Act. Indop•ndent Examlner'8 Statement I have completed my 8xaminallon. l GonfSrm that no mallers have come lo my attention In connecllon wllh the examlnallon givlng me cau$e lo believo that In any malerlal respect.. accounting records were not kopl in respect of th8 Charlty as required by s8clion 130 of the 2011 Act.. or the ?ccounls do not accord wlth those rocords,. or Ihg accounts do not comply wllh the applicable roquirements concerning the form and conlenl of accounts sel out in the Charllies (Accounts and Reporlsl Regulation5 2008 other than any requirement that tho accounts give a'lrue and fairf view which Is not a maller considered as parl of an independgnl examlnallon. I have no concerns and have come aGross no other mallers In connection with the examination lo whlch allenllon should be drawn in this report in order lo enabl? a proper understanding of the accour71s lo be reached. Thls report is made solely lo the Charity's Tru51ges, as a body, in accordance with Parl 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slal8 lo the Charity's Trustees those mallers l am required lo $1219 lo them in an Independent examiner's report and for no other purpose. To the fullest exlenl permilled by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for thi5 report. Signed.. Dated.. 2(&-1. Vivien Gross BA IHonsl FCA Vivièn Cross AGcountancy Servlces Llmlted Br8cken Cloijgh S12rl Lan8 Whaley Bridge Derbyshire SK23 7BR Page 5
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Investments Total income 18,021 13,623 18.021 13,623 21,065 13,630 Expendltura on: Support and governancé costs Charitable actlvltles 6,073 28,810 6,073 28,810 T,892 35,714 Total exp•ndlture 34.883 34.883 Net movom6nt In funds befora othèr recognlsed galnslllossos) {3,2391 13,2391 (8,911) Other recognlsed galnsl{Iosse81 {7,179) 17,1791 29,263 Net movement In funds 10,418 20,352 Rocon¢lllatlon of funds Total funds brought forwerd Net movement in funds 436,891 436,891 {10,418) 110,4181 416,539 20,352 Total funds carrlod foThvard 426,473 426,473 436,891 The Slalemenl of Financial Activities includes all gaills and losses r8cognised in the year. rhe notes on pages 8 10 14 form part of these financial stalemenls. Page 6
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Noto Fixed assets Investments 411,966 424.145 411,966 424, 145 Current assets Debtors Cash at bank and in hand 10 2,429 13,953 2,446 12,210 16,382 14,656 Creditors.. amounts falling due within one year 11 11,8751 (1,910) N•t current a888ts 14,507 12,746 Total a888t81o55 ¢urrent Ilabllltle8 426,473 436,891 Total nèt as88t* 426.473 436,891 Charlty fund8 Re8lri¢led funds Unre$tri¢led funds 12 12 426,473 438,891 The financi81 slalomonls were approved and aulhorlsed for Issue by the Trustees and signed on Ihelr behalf by.. Ann Dawson Chair ol Trustees Dale Vanessa Bllllng Treasurer Dale. 2L)I 25 The notes on pages 8 to 14 form part of these financial slalemenls. P20È 7
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General Information The char¢ly is a public bgnefil enlily and a registered charity in England and Wales and is unincorporated. The address of the principal office is 2nd Floor Beckwilh House, 1 Wellington Road North, StockF)orl, Cheshlre, SK4 1AF. Accounting policies 2.1 Basls of prèparatlon of financial statements The flnanclal statements have been prepared in accordance with the Charities SORP IFRS 1021 Acr,ounllng and Reporting by Charities.. S131emenl of Recommended Practice applicable to charities preparing Ihelr accotJnt8 In aeeordance with tho Financial Reporting Standard applicable in the UK and RepublSc of Ireland IFRS 1021 l&ffeclivo 1 JanL¢ary 20191, the Financial Reporting Standard applicable in the UK and RepLJbllc of Irelarid IFRS 102} and the Charities Act 2011. SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND meets the defirslllor) of a public benefll enlily under FRS 102. Assels and liabilili¢s are initially fecognised al hlslorlcal cost or IransaclSon valu¢ unless olherwlse Staled in the relevant a¢Gounllng policy. 2.2 Golng COnrn The finan¢ial slatemonls have been preparod on a going concern basls whlch assumes an abllbly to ¢olltinue operating for the foreseeable future. The Trustees are confident that the charity wlll conlinue as a going concern should incom8 bo adversely affe¢led by other unforeseeable circumstances, 2.3 Income All income is recognised onco the Charlly has enllllemenl lo the incorng, il is probable that the income will be rec8lved and th8 amount of in¢ome receivable can be measured reliably. The recognition of income from legacies is dependent on establishing enlillemenl, the probabllily of rec61pI and the abillty lo estimate with sufficient accuracy the amount receivable. Evldence of enlillemgnl to a legacy exists when the Charity h85 sufficient evidence that a gift has been left lo them Ilhrough knowledge of the existence of a valid will and the death of the benefactorl and the executor Is satisfied that the properly in question will not be required to satisfy clairns in the eslale. Receipt of a legacy musl be recognisgd when il is probable that il will be rocoived and the fair value of the amount recelvable, which will generally bg the gxpecled cash amount lo be distribuled to the Charity, can be reliably measured. Income lax recoverable ir¢ rolation to investment income is recognised al the time the investment income Is recelvable. Page 8
SOROPMMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles {contlnued) 2.4 Exp&ndlture Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefil lo a third party, il is probable that a transfer of economic beneflls wlll be requlred in settlement and the amount of the obligation can be measured reliably. ExpendilLtro is classified by activity. The costs of each aclivity are made up of the total of direct costs and shared costs, including support cost8 involved iri undertaking each aclivily. Direct costs allribulable lo a single activity are allocated directly lo that activity. Expendilure on raising funds Includes all expenditure incurred by the Charity lo raise funds for ils charitablo purposes and includes Gosts of all fundraising activities events and non-charilable trading. Expenditure on charllable activlties 15 incurred on dlreclly undertaking the activities which furlher the Charity's oblgclives, as well a3 any associated support costs. All expenditure 18 inolu$ive of irrecoverable VAT. 2.5 Inv88tmènt# Flxed asset Investments are a form of financial instrument and are Inillally recognlsed al Ihglr IransaclSon cost and subsequently measured al fair value al the Balance Sheet dale, unless the value cannot be measuied reliably In whlch case il 1$ measured al Cost les3 Impairmgnl. Invgslmenl gains and losses, whether realised or unrealisad, are combin8d and prgsenled as 'Galn51lLossosl on Inveslmenls, in the Sl31omenl of financial aclivilies. 2.6 Debtors Trade and other debtors are recognised al the selllemenl amount after any trade dlscoL¢nl offered. Piepaymenls are valued at the amount prepald nel of any trade dlscounls due. 2.7 Ca8h at bank and In hand Cash al bank and in hand includes cash and shorl-lerm highly liquid Investments wllh a short malurily of three months or less from the dale of acquisition or opening of the deposll or similar account. 2.8 Liabilities and prov131on5 Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past event. il is probable that a transfer of economic benefit will be required in selllement, and the amount of the settlement can be eslimaled reliably. Llabililie8 are recognised al the amount that the Charity anlicipales it will pay lo sellle the debt or the amount it h88 received as advanced payments for the goods or services it must provide. Provisions are measured al the best estimate of the amounts required lo sellle the obligalion. Where the gffect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate that reflects the risks specifi¢ lo the liability. The nwinding of the discount is recognised the Statement of financial a¢livilies as a fsnance cost. Page 9
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND NOTES TOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl 2.9 Flnanclal Instruments The Charity only has finarkcial assols and financial liabilitles of a klnd that qualify as basle finan¢pl instruments. Basic financial Instruments are initl8lly recognised al Iransaelion value and subsequently measured al their selllemenl value with the exception of bank loans whlch are subsequently measured al amortised oosl using the effective Interest method. 2.10 Fund aGGountSng General funds are unreslricled funds whlch are avallable for use al the discretion of the Trustees In furtherance of the general objectives of the Charity and which have nol been designated for olh8r purposes. Inve81menl income, gains and103s83 are allocated lo the appropriate fund. Incoma from donatlons and199o¢les UnroStrSGted funds 2025 Total fund¥ 2025 Total funds 2024 Levie5 LegaCS Glfl Aid Other éonalions 8,434 5,000 1,375 3,212 8,434 5,000 1,375 3,212 9,094 t,959 2,540 7,472 21,065 18,021 18,021 Invo$tmont Incomo Unrostrlcted funds 2025 Total funds 2025 Total funds 2024 Investrnenl income 13,623 13.623 73,630 Page10
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expenditurè on raising fund$ Unre8trlcted fund8 2025 Total fund8 2025 Total funds 2024 Investment expeH3e8 Travel Admini51ralion expenses Accountancy fee Bank charges Insurance 3,138 1,125 3,138 1.125 4,544 1,397 626 320 330 330 71 934 934 934 6,073 6,073 7,892 Analysls of expondlturg on charltable actlvltl88 Summary byfund typo Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Benevolent grants 28,810 28,810 35. T14 Independent examlner's remuneratlon The Sndependenl examlner's remunerallon amounts lo an Independent examlner fee of £33012024.. £3201 Trustee$ remuneration and expens95 During the year. rio trustees received any remuneration or other benefits12024'. £nill. During the year ended 31 Mar¢h 2024, trustee exponses of £1,125 have been inGurred12024.. £1,397). Page 11
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Fixed asset Invostments Llstèd Inv8Stmant8 Cost or valuation Al 1 April 2024 Revaluations 424,145 {7,1791 Dispogals {5,0001 Al 31 March 2025 411.966 Ai 31 MarGh 2024 424, 745 10. Debtors 2025 2024 Due wlthln one year Other debtors 2,429 2,446 11. Crodltors: Amounts falllng due wlthln on0 yoar 2025 2024 Accruals and deferred income 1,875 1,910 12. Statement of funds Statement of funds - current yoar Balance at 31 March 2025 Balance at 1 Aprll 2024 Gain¥1 {Losso¥l Income Expendlturè General funds 436.891 31.644 (34,8831 17.179) 426,473 Summary offunds- prlor year Balonce el 31 March Balance st I April 2023 Gain (Losses) Income Exp8ndilurg 2024 General funds 416.539 34,695 (43,606) 29,263 436,891 Page12
SOROPTIMIST INTERNATIONAL OF GREAT BRITAIN AND IRELAND BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Analysls of net assets betweèn funds Analysls of net assets b8tween funds- current year Unrestricted fund5 2025 Total funds 2025 Fixed 88sel inve51menls Current assets 411,966 411,966 16,382 1.875 426,473 16,382 1.875 426,473 Creditors due wllhin one year Total Unrgstrlcled funds 2024 Total funds 2024 Fixed assel investments Current assets 424,145 424,145 14,656 14,656 .£1910) 1910 436,891 436,891 Creditors du8 wilhln ono year Total 14. Related party transactlon8 The Gharily has a very close relationship wlth Soropllmlsl Intornalional Great Brilaln and Ireland {SIGBII Llmiled whi¢h nominates all of the trustees and management committee. Soroplimisl International Great Britain and Ireland ISIGBII Llmlled collecl$18vies, payable by the mombers, on behalf of the charity. During the year the amounts collected and reeeived from Soroplimisl International Great Britain and Ireland ISIGBII Limited lotalled £8,434 12024.. £9,094). The balance recolvablo al the balance sheet dale was £1,18312024'.£1,1131. No Iruslees received any remuneration or other ber)ofils directly or Indirectly from the charity. Payments were made lo Iruslee5 tolalling £1,125 for travel expenses12024.' £.1,397 travel expenses). Page13