Charity Registration number 212022 Builders Benevolent Institution Report of the Trustees and Financial Statements For the Year Ended 31 December 2024
Builders Benevolent Institutlon Report and accounts Contents Page Legal and administrative infomialion Trust8es' Report Independent Exarninerfs Report Statement of Financial Activities Balance sheet Notes to the Financial Statements 8-12 Detailed Slalemenl of Financial Aclwilies 13
Builders Benevolent Institutlon Report and accounts Contents Page Legal and 8dministralive infomialion Tru*ees' Report Independent Examinerfs Report Statement of Financial Activities Balance sheet Notes to the Financial Statements 8-12 Detailed Statement of Financial Activities 13
Bullders Benevolent Institutlon Legal and Admlnlstratlve Informotlon for the year ended 31 December 2024 Truste66 J Snelling (Presidenll B Phoenix (Vice PSident & Treasurer I T Rayner (Secretory) K Head (Past President} M Crowe (Past Presidenti D James R Poulton C Crowe lappoinled 21.11.20241 Principal Address 78 Long Brandocks Writtie Chelmsford Essex CM1 3JP Registered Charity Number 212022 Independent Examiner Soulhwell, Tyrrell & Co Chartered A¢countanls 15 Lower Ground Floor 65 London Wall Londor> EC2M STU Advlsors Brewin Dolphin 12 Smithfield Street London EC1A 9BD Bank8rs Barclay5 Bank PIC Newham Business Centre 737 Barking Road London E13 9PL
Builders Benevolent In8titutlon Registered number: 212022 Trustees, Report The trustees present their report with the financi8131alemenls of the charty for the year ended 31 Dember 2024. The trustees h8ve adopted the provisiong of Accounting and Reporting by Charities.. Statement of RecKJmmended Pra¢ti¢e applicable lo eharities preparing their accounts in accordance with the Finanal Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 Janu8ry 20191. OBJECTIVES AND ACTIVITIES Objects The objects of the Institution are the assistance of'.- Persons in need who have been lor who are) engaged in the bulldlng trade as Master Buildèrs, and The wives, widows and children of arty such persons being in need of assistance. Straiègy The charity attemp15 to assisl these groups of persons by.. The making of monthly or other periodical allowance. The granting of pensions. The giving of sums of money andlor th& making of loans by way of temporary relief. Objectives for the year The charity's objective for the year under review. was lo meet the needs of all applicants who are eligible lo benefit from ttrie In$tilulion. The Trustees are pleased to report that they were able to assist 811 Èligible applicants in the year under review. The charity is reviewing its procedures for identifying potential beneficiaries. This review is ongoing. Public benefit The Charity's beneficiaries aw $triCt by ils ¢¢nstltulion of 1847 to members of an occupation bul the public benefit is clear. The Charity provides assistance to 60 beneficiaries, 410A of whom are over eo years of age and 71Qk are over 70 years of age. Most of the beneficiaries suffer trom some form of illne$$ or disability. All C•f the benefi¢iaries live on a very restricted inwme even after taking into ac¢ounl the limited 8s$istsnce they receive from public funds. Without the help of the Inslilulion, the daim$ on public funds would be greater and the plight of the beneficiaries would be far worse. In reviewng the Charity's aims and objective$ and in planning future activities, the Trustees refer to the Charity Commission's general guidance on publie benefit. Grant making pollcy The Management Committee o)nsider application$ for assistance from needy persons who have been or who are en9ag¢d within the building trade as Master Builders or from the wives, widows and children of such persons and iJ¢cisions are made on the basis of objective criteria approv¢d by the Management Committee. taking account of the a¢Jvi¢e rendered by the Welfare Officer.
Builders Benevolent Institution Registered number: 212022 Trustees. Report ACHIEVEMENT AND PERFORMANCE Charfitsblg a¢tivit19S During 2024, there v4frre 5 meetings. 2 were conducted remotely by zoom kindly provided by John Snelling and the trusteès arg most grateful to him for the provi510n of the facility. Th&re were 3 new applicabons, all of which were approved. There were 4 deaths of benefiaaries and they had been supported for 10, 21, 30 and 38 years. During the year 24 visits in addition lo telephone contacts were made. FINANCIAL REVIEW Fundraislng Poliey The Charity dtses not usè fundr8ising servieeg, consultants or exlemal professional fundraisers undèrtake Its fundraising activities and no data is shared with or sold to any external agena&s. The Charity does not undertake Direct Mail and does not approach or pre$$tJre vulnerable people lo support ils work. A complaints proceL1ure 1$ in place and the Charity adheres to the Fundraising Code of practice issued by the Fundraising Regulator. Investm•nt poli¢y Professional fund managers, who have delegated aulh¢yity to aci within constraints sperified by the Management Committee, manage the Charity's investments. The investment manager5 are ¢harged with maximising investment income subject to Maintaining good capital groth and subject to the requirement lo hold a balanced investment portfolio lo minimise risk. R•88rvos policy Whilst the Charity does not enter into either contractual or constructive commitments to benefiaaries, when the Charity decides to support a benefiaary. its intent4.on IB to continue that support until the benefiaary becomes self Sufficient or dies. The average length of tima over which beneficiaries beneflt from the Charity'5 SUPPOrt 13 of the or¢¥er of 14 years. The Trustees are therefortr of the opinion that leve15 of reserves of approximately £1.5 million are required lo ensure that the Charity can continue lo meet its obligations in the event of unforeseen reduLti0115 in ils inMe, as has been the case with the COVID Pandemic. The Trustees prop05e. therefore. lo normally broadly match income and expenditure in forthwming period5 relyin9 on inve51menl growth Ici maintain the Charity's reseTres at the oplimum level. The current level of reserve5 15 £1.614.73412023." £1,514,282). Review of thè y•ar Donation5 received by the Charity in 2024 amounted lo £10,40012023.. £15,632). Income from inveslmenls, together with the deposit interest received. amounted to £40,40512023. £41.6471. Total expendiluio on tharitable aclivilie8, SLJPPOrt 8nd governance costs during the year amounted lo £57,373 12023", £62,561). The Costs of raising funds cDmprising investment management cost5 amounted to £7,785 12023.. £7.4001. Excluding net gains on investments Ireali$ed and UnaliSed) of £114,805 12023.. £57,726), the Charity disdosed net expenditure this year of £14,353 12023, £12.6821. After net agggate g8ins on investment$, nel surplus amounted lo £100,45212023.' £45,044).
Builder5 Benevolent Instltutlon Registered number: 212022 Trustees. Report STRUCTURE, GOVERNANCE AND MANAGEMENT Govèmlng documènt Builders, Benevolent Institution is a charitable association established in June 1847 Icharity number". 2120221 It is governed by rules which are subject lo periodic review and revision and managed by a Committee of Management. Appointment, induction and trainin9 of truste&s The trust deed provides that both the Federation of Master Builders and the National Federation of Builders may nominate three metnbers each to be Trustees of the Charity. This fight is rarely exercised and whilst Trustees are generally recruited from the rnembers of the Federation of Master Builders and the National Federats'on of Builders. they are not nominated Trustees as Such. The trust deed allows Trustees to be appoinled by the existing Trustees. The Presiden( Vice President and the Trga$urer aTe g18cted annually by the membership. l Trustve$ are gxperienced in busine33 and therefore require a minimum of induction and training. Organlsational strncturfr The Inslilution'5 cor151ilulion requires the Trustees lo rneel a minimum of four limes annually. During the current yèar five Trustees, meetings were held in addition to the AGM. The Board of Trustees, known as the Management Committee, does not have any Sub mMittee$ and all dècisions are taken by the lull Btrard. The Secretary lo the Tiuslee5 Is charged with the responsibility for the day to day management of the Charity. This report was approved by the board of trustees on 4 June 2025 and signed by ils order. 8 Phoenix 4 June 2025 Trustee J Snelling 4 June 202 Trustee
Independent Examlner's Report To The Trustees Of Builders Benevolent Institution I report lo the charily trustees on my exarnination of the 8ccounts of Builders 8enevolenl Institution lthe Trust) for the year ended 31 December 2024. Responsibilities and ba$ls of report As the charity's Iru$lees ygu are responsible for the preparation of the aceounls in accor*Jan with the roquiremenls of the Charf(ies Act 2011 I'the Acl'l. I report in respect of my examination of the charty's accounts carried out under section 145 of the Act and in carrying out my examination I have foll¢)wed all the applicable Directions given by the Charrty Commission under section 14515}Ib) of the Act. Independent examIne$ statement I have completed my examinalion_ I confirm that no material matters have come lo my attention In connection with the examination giving me cause to believe that In any material respect.. accounting records were nDI kept in respect of the charity as required by section 130 of the Act", or the account8 do nol accord wlh those rec¢rd$'. or the 8ccounls do not comply with the applicable requireTnenls conceming the forn and content of accounis sel out in the Charities IAecounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which 1$ not a matter eonsidered 88 part of an independent examination. I have no concems and have come across no olheT matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. ean R. Clark Soulhwell, Tyrrell & Co Chartered Accounlanls 15 Lower Ground Floor 65 London Wall London EC2M STU 4 June 2025
Buildgrs Bengvolent Institution statement of Financlal Activitie8 for tho ygar endgd 31 Docgmber 2024 2024 2024 2024 2023 Unre$trl¢ted Restrithd Funds Funds Total Fund$ Totsl Funds Donation5 and legaaes Investment income 10,400 40.405 10,400 40,405 15.632 41.647 Total Incomlng resources 50,805 50.805 Expenditure Raising Funds Charitable activities Support costs Govemance costs 7.785 40.697 13.016 3,680 7.785 40.697 13,016 7,400 43,534 15,367 3,660 Total expend4tu 65.158 65,158 69.961 Nel gainslllossesl on investmenls 114,805 114,805 57,726 Net ineomellÈxpendSturel 100.452 100,452 45.044 RECONCILIATION OF FUNDS Total funds brought forward 1,514,282 1,514,282 1,469,238 TOTAL FUNDS CARRIED FORWARD 1.614,734 1,614,734 1,514,282
Bullders Benevolent Institutlon Registered number.. Balance Sheet as at 31 December 2024 212022 Noto5 2024 2023 Fixed assèts Inveslments 1.589,281 1.498,733 Current assets Debtors Cash at bank and in hand 6.948 23,483 7,679 13,382 Creditors- amounts falling dug within one year 14,9781 15,5121 Net current assets 25,453 15,549 Net asset¥ 1,614,734 1.514,282 Funds Unrestricted fund8 1,614.734 1,514,282 Shareholder5. funds 1,614.734 1,514,282 The financial statements were approved by the Board of Truste¢$ and were signed on ils behalf by: B Phoérsix Truglee Approved by th& board on 4 June 2025 J Snelling Trustee l(f.,
Bullders Benevolent Institutlon Notes to the Financial Statements for the year ended 31 December 2024 1 Accounting pollcies Basis ofpreparation The financial slalemenls of the charity, which is a public benefit enlily under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities.. Slalemenl of Recommended Pr8cli¢e applicable lo cttarities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial slalemenls have been prepared under the historical cost Convention, with the exception of inve31rnenls which are included al market value, as modified by the revaluation of certain assets. The Iruslees consider that there are no materk41 uncertainties about the Charitys ability lo continue as a going concern. Fffnencial reporting standard 102- rEduced disclosure exemptions The charity has iaken advantage of the following disclosure exemption in preparing these financial stalemenls, a5 permitted by FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland,. the requirements of Se¢lion 7 Statement of Cash Flows. Income All income is recognised in the Stslemenl of Financial Activities once the charity has entillemenl lo the funds. il is probable th81 the income ¥MII be receNed and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is 8 legal or constructive obligation commilling the charrty lo that expendilLJre, it 1$ probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed lo particular headings they have been allrxated lo activities on a basis consislenl wlh the use of resources. Grants offered subject lo conditions which have not been met at the year end dale are noted as a commitment bvl not accrued as expenditure.
Builders Benevolent Institution Notes to the Flnanclal Statements for the year ended 31 December 2024 Investments Investments are 8 form of basic financial instrument and are initially recogni5ed al their Iran¥aclion value and subsequently measured al their fair value as 81 the balance sheet dale using the Closing quoted market price. The statement of f1nancial aciiwties includes the nel gains and losses arising on revaluation and disposals throughout the year. All gains ané losses 8re tsken to the Statement of Financial Aclivrtie5 as they 8rise. Realised g8ins and losses on Investments are calculated as the difference ts8een sales proceeds and their opening carrying value or their purchase value if acquired subsequent lo the first day of the financial year Unrealised gains anLY losses are calculated as the difference beN¥een the fair value al the year end and their Carrying value Realised and unrealised investment gains and losses are combined in the Stslemenl of Financial Aclivrties. The Institution does not acquire pul options, dertvatives or other complex financial inslrumenls. The main form of financial risk faced by the charty is that of volalilily in equity markets and invèstment markets due lo wider economic conditions, the 8ttilude of investors lo investment risk, and changes in sentiment concerning equities and within certain sectors or sub sectors. Governance costs These are included within support costs and includ9 the cost$ attributable lo the Charily's compliance wilh constilulional and slalulory requirements, including audit, Iruslees, meetings and reimbursed expense5. Fund accountlng All the funds of the charity are unrestricted 8nd can be used in accordan with the charitable objeclNes al the discretion of the Iru51ees. Taxatlon The charty is exempl from tax on ils charitable activities. Crltlcal accountlng estimates and areas ofjudgement In preparing the financial statements il is necessary to make certain judgements. eslimales and assumptions that affect the amounts recognised in the financial 51atemenls. In the view of the Trustees. there are no significant judgements, estimates and assumptions required. Flnaneial Instruments Thè charity only has finan¢ial assets and liabilities of a kind that qualify as basic financial inslrurnenls, including ils debtors and ¢reditors. These are initially recognised al Iransoction value and subsequonlly valued al their settlement value. Functional currency The financial statements are presented in Pound Sterling, which Is the functional currency. All financrdl information presented is rounded lo the nearest Pound Sterling.
Bullders Benevolent Institution Notes to the Flnanclal Statements for the year ended 31 December 2024 2 Investments 2024 2023 Shares Cash al Brokers 1,573,488 15,793 1,589,281 1,480,132 18,601 1,498,733 Additional information as follows". Market value al At 1 January 2024 Additions Di$posals Revaluations Al 31 December 2024 1.480,132 398,686 {420.1351 114.805 1,573,488 NET 800K VALUE Al 31 December 2024 1,573,488 1,480,132 At 31 December 2023 There were no investment assets outside the UK. Valuation is preSented by.. Al 31 Dember 2024 1.573,488 Investments Ineilher listed nor unlistedl were os follows.. 2024 2023 Broker5- Income Account Brokers- Capital Account 1,440 14,353 15,793 1,519 17,082 18,601 3 Debtors 2024 2023 Ot*er debtors Prepayments and accrued income 8,280 6,700 979 6.948 7,679 4 Crgdltors.. amounts falling due wlthin one year 2024 2023 Other creditors 4,978 5,512 10
Builders 8enevolent Institutlon Notes to the Flnanclal Ststements for the year ended 31 December 2024 5 Movgment in Funds At1 January 2024 Net At 31 movement Dpcember in funds 2024 Unrestrlcted funds General fund 1,514.282 100,452 1,614,734 Total Funds 1,514,282 100,452 1,614,734 Net movement in funds, included in the above are as follows.. Incoming Resources resources expended Galns and losses Movement In funds Unrestricted funds General fund 50,805 165,1581 114,805 100.452 Total Funds 50,805 65,158 114,805 100452 Comparatives for movement in funds At1 January 2023 Net At 31 movement December in funds 2023 Unrestricted funds General lund 1,489,238 4S,044 1,514,282 Total Funds 1.469,238 45,044 1,514,282 Nel movemenl in funds, included in the above are as follows.. Incoming Resources rgsources expend8d Gains and lossey Movement in funds Unrastri¢ted funds General fund 57,279 169,*11 57,726 45,044 Total Funds S7,279 69,961 57.726 45,044 11
Bullder8 Benevolent Instltutlon Notes to the Financial Statements for the year ended 31 December 2024 6 Trustees. Remuneration and 8èneflts The Key Management Personnel of the Chgrty are Ihcise persons having authority and responsibility for planning, directing and controlling the activities of thè Charity, directly or indirectly. including any trustee of thè Charity. There were no trustees, remuneration or other benefits for the year ended 31 December 2024 (2023 .. £NILI. Trustees, expenses The charity does not employ staff. Throughout the year one of the trustees of the charity. T.Rayner, ha$ dealt with the day to day running of ils activities and was paid £5,161 12023 £6,321) in expeises. 12
Bullders Benevolent Institution Detailed Statement of Financial Activitles for the year ended 31 December 2024 This schedule does not fonn part of the slalutory aonIS 2024 2023 INCOME Donations and legacles Donations GiftAid 10,320 80 10.400 15,485 147 15,632 Invostm•nt income Income from listed investments 40,405 41,647 Total incoming resources 50,805 57,279 EXPENDITURE Investment management Costs Investment rnanagemenl costs 7,785 7,400 Charftable actlvitles Grants lo individuals 40,697 43,534 Support costs Insurance Websile Visitors retainer Vi511ors expenses Secretatys expenses 783 472 6,600 8,600 2,446 6,321 5,161 Governance costs Independent Exarniner's Fee Additional Independent Examiner's Fee re 2023 Accounts 3,000 660 3,660 3,660 3,660 Total fe50urces expencled 65,158 69,961 Net incomellexpendlturgl beforo galns and 5osses 14,353 12.682 Realised gainsll1058esl on fixed a38el investments 114,805 57.726 Net incomellexpendlturel 100,452 45,044 13