2020-12-31-accounts

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Charity number: 212450

THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

THE NATIONAL BENEVOLENT CHARITY

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1 - 2
Trustees' Report	3 - 9
Independent Auditors' Report on the Financial Statements	10 - 13
Consolidated Statement of Financial Activities	14
Consolidated Balance Sheet	15 - 16
Charity Balance Sheet	17 - 18
Consolidated Statement of Cash Flows	19
Notes to the Financial Statements	20 - 46

THE NATIONAL BENEVOLENT CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees

Air Cdre David Adams, (Chairman of the Welfare Committee) Mr Christopher Bell, (Chairman) Mr Richard Bromilow (appointed 30 September 2020) Mrs Joanna Chambers Mr Geoffrey Clements, (Chairman of the Finance and Investment Committee) Mr Andrew Crawford Mrs Victoria Daniell Mr David McEuen, (Chairman of the Investment Committee) Mr James Golob (appointed 30 September 2020) The Revd John Hunnisett Mr Grahame Nicholson

Charity registered number

212450

Registered office

Peter Hervé House Eccles Court Tetbury Gloucestershire GL8 8EH

Patron

His Royal Highness The Prince of Wales

Chief Executive

Ali Russell

President

Vacant

Independent auditors

Randall & Payne LLP Chargrove House Shurdington Road Cheltenham Gloucestershire GL51 4GA

Page 1

THE NATIONAL BENEVOLENT CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Bankers

HSBC Bank plc The Cross Gloucester Gloucestershire GL1 2AP

Solicitors

Stone King LLP 13 Queen Square Bath BA1 2HJ

Investment Managers

Rathbones 1 Curzon Street London EC2M 7AZ

M&G Investments Laurence Pountney Hill London EC4R 0HH

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THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the audited financial statements of the The National Benevolent Charity for the year 1 January 2020 to 31 December 2020. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Structure, governance and management

a. Constitution

The National Benevolent Charity is registered as a charitable company limited by guarantee and was set up by a Royal Charter.

b. Methods of appointment or election of Trustees

The Trustees of the Charity are the Members of the Committee of Management. The Byelaws of the Charity were amended, with effect from 10th September 2009, to provide for one third of Trustees to retire each year in order of length of service and, with effect from that date but disregarding previous service, for no Trustee to serve for more than twelve consecutive years without a break in service.

Under the Royal Charter, the Trustees must be elected from amongst the members of the Charity, and they must total no less than six and no more than twenty. The Committee of Management has the power to co-opt additional members during the year and must do so if the number falls to below six.

c. Organisational structure and decision-making policies

The Committee of Management, which met four times during 2020, is responsible for the strategic direction and policy of the charity.

The work of the Committee of Management is supported by the Finance and Investment Committee and the Welfare Committee. Both committees are governed by Terms of Reference. During the year the Welfare Committee met monthly via email to discuss Welfare Applications that could not be dealt with by delegated authority. They also met three further times to discuss welfare strategy. The Finance and Investment Committee met four times in the year. Due to the pandemic all meetings were held via Zoom from the end of March onwards.

Strategic development and day to day management is the responsibility of the Chief Executive. The charity employed three further staff during the year, two managing the office administration, property, and welfare applications. A further staff member was employed as Resident Warden at the Tapestries in Old Windsor until October 2020.

d. Related party relationships

Related parties include all the members of the Committee of Management. There have been no transactions with related parties during the year.

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THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management (continued)

e. Subsidiary charities

The Knowles Foster Homes, which owns the Tapestries accommodation block, is a linked charity.

f. Restricted funds

The Henderson bequest is a restricted fund providing accommodation or assistance to former members of the nursing or care professions. The fund is invested in a Charifund account managed by M&G Investments. The Peter Herve Benevolent Fund merged with the charity in December 2018 and no longer appears in the charity commission register. However, during the year funds were restricted to use in Bristol.

g. Land and property

Land registrations have been completed for the Charity's properties.

Plans for future periods

The trustees continually review the financial, economic, and social environments in which the Charity operates to adapt or change policy and practice. Specific strategic plans include: Building partnerships with other trusts and foundations, strengthening our governance and board, improving public awareness of our grant making programmes and streamlining our investment accounts portfolio.

Objectives and activities

a. Policies and objectives

The objects of the Charity are the relief of qualifying persons who need assistance by reason of old age, infirmity, sickness, or economic circumstances. The government's programme of structural welfare reform and the resulting benefit cuts have had a significant negative impact and are being closely monitored by the Charity. Changes in policy have been made to reflect changing patterns of poverty and the changing needs of beneficiaries. The Charity's scope is UK-wide, and beneficiaries live in all parts of the country.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The Charity gives financial help in the form of single grants, regular payments, grants to organisations and subsidised housing.

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THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

Single Grants

Throughout the year the charity awarded single welfare grants to meet sudden or occasional costs, such as food and clothing, furniture, domestic appliances, minor repairs, fuel, and training. In exceptional circumstances grants were also awarded for bankruptcy and debt relief orders, private medical treatment, flooring, disability aids or adaptations, garden improvements and rent arrears. Applicants for single grants complete an application form explaining what the grant will be used for and why it is needed. They are also asked to provide details of their financial situation, disabilities or health issues or other exceptional circumstances. They are also requested to provide bank statements, medical reports, and details of a professional referrer.

To qualify, applicants needed to demonstrate that they were living in poverty, through no fault of their own, and that it was not possible for them to escape from that poverty because of sickness, disability, age, or some other substantial reason. They also needed to have UK citizenship or have been granted leave to remain and be over 18 years old.

Full criteria and the application process is supplied on the website

Between March and June, in response to the pandemic the charity established an Emergency Coronavirus Fund and awarded a single cash payment to those who had lost their job or income as a direct result of the pandemic and the UK lockdown. To apply applicants needed only to supply bank statements.

Regular payments

These are made quarterly in advance. Since 2003 the charity has been phasing out regular payments in favour of single payments. There were no new regular beneficiaries during the period.

Grants to Organisations

Grants are made to organisations which support beneficiaries experiencing poverty or hardship to access essentials such as food, clothing, and housing.

Housing

The Charity has accommodation blocks in Tetbury and Old Windsor (The Tapestries). The accommodation is for independent living and is mostly occupied by single people, on low incomes over 50 in one or two bedroomed apartments. Some tenants are in receipt of means tested state benefits, including housing benefit.

On the Tetbury site, there are nine apartments in Peter Hervé House, a purpose-built block, and a further two in Lenox House, a refurbished 16th century coach house and grade Il listed building. On the Old Windsor site, the Tapestries is in three Victorian buildings converted into 28 apartments (one occupied by the on-site Warden) and two houses. All the accommodation is safe and peaceful, and the gardens are maintained for the enjoyment of tenants and guests.

Vacancies were filled following local advertising and nominations from other charities, societies, and housing associations. All prospective tenants completed a standard application form and were interviewed prior to a flat being let.

The Charity is a member of the Registered Landlords Association and the Almshouse Association.

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THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Objectives and activities (continued)

In March 2020, the trustees took the decision that, due to the ongoing costs incurred in maintaining the Tapestries and the trustees desire to focus on its grant giving activities, that the Tapestries would be sold. This was paused due to the pandemic and first lockdown but in August 2020 the charity announced to tenants that the Tapestries was to be sold. Savills was engaged to find a buyer who would ideally be sympathetic to existing tenants and retain them in situ. An offer was accepted from Rural Portfolio Limited, part of the William Pears Group who committed to retain the tenants with their existing tenancy agreements and the sale completed in February 2021.

d. Grant-making policies

Grants are made to individual beneficiaries and organisations following approval by the Welfare Committee or with delegated authority in accordance with the terms agreed by the board of trustees and the Charity's governing documents.

Achievements and performance

a. Review of activities

Single Grants

The charity received 1,238 applications for single payments and made 528 awards (2019: 376 awards). The average value of the award was £309.00 (2019 335). This included 48 beds or bedding, 146 vouchers for food and clothing, 106 “other items” such as bankruptcy orders, flooring, baby equipment and laptop and 206 fridges, cookers and washing machines.

The charity also received 547 applications to the Emergency Coronavirus Fund, 200 grant awards were made with the average award being £200.

The total amount of individual grants awarded was £205,124 an increase of £79,151 on the previous year.

Regular Payments

At the end of the 2020 there were 80 beneficiaries (2019: 100) in receipt of regular payments of which 68 were single people and the remainder couples. The amount of a regular payment for a single beneficiary in receipt of the state retirement pension was £19.00 per week, and for a couple it was £25.00 per week. For beneficiaries not in receipt of the state retirement pension the rate was up to £25.00 per week for a single person and up to £31.00 for a couple. The total amount of our regular grants was £83,070. This is a decrease of £13,026 on the previous year due to natural attrition.

Grants to Organisations

In March 2020, the board agreed to extend its organisation grant giving into Gloucestershire and Wiltshire in addition to the existing programme in Bristol. During the year 10 grants were awarded to smaller, local grassroots organisations in Gloucestershire and two grants were made in Wiltshire. In Bristol we continued to support our existing funded organisations to a greater extent and support two other organisations. In total 17 grants were made ranging from £100 to £45,000. Thirteen of these grants were made to help organisations provide food during the pandemic. Grants totalled £121,934. This was an increase of £86,933 on the previous year.

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THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance (continued)

Housing

Occupancy rates were high until the last quarter of the year when there were two voids at Lennox House at the same time and the charity took the opportunity to refurbish the building. There were also voids at the Tapestries as some tenants chose to leave when it was put up for sale and the flats were not relet in the interim.

b. Factors relevant to achieve objectives

Information and Publicity

The Charity advertised the single grant programme on the turn2us website which directs applicants to the charity’s website and an online application form.

Partnerships

The Charity is a member of the Association of Charitable Organisations, the umbrella body for benevolence charities. The charity is also a member of the Bristol Funders Network, Gloucestershire Funders Group and National Council for Voluntary Organisations. The charity also has relationships with other charities in the sector such as Turn2Us, the Smallwood Trust and other benevolence charities and takes referrals from advice and welfare organisations including Citizens Advice, Age UK and StepChange. There were also over 400 agencies which referred applicants to the charity during 2020.

c. Public benefit

The Trustees are aware of Public Benefit provisions of the Charities Act 2011 and of the guidance on them published by the Charity Commission. They are satisfied that the Objects of the Charity and the activities of the Charity are within the definitions of Charitable Purposes as set down in the Act in that they are for the relief of poverty, and for the relief of those in need because of old age, infirmity sickness or economic circumstances.

The Trustees are not aware of any public detriment caused by the Charity's Objects or activities, and nor are they aware of anyone receiving any private benefit from the Charity's activities.

d. Policies

During the year, the Charity reviewed and revised its policies on health and safety and data protection to ensure that they comply with current legislation and good practice.

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

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THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

b. Reserves policy

It is the aim of the Charity to maintain unrestricted funds, which are free reserves of the Charity, at a level which equates to six months' expenditure, approximately £250,000. This provides enough funds to cover management, administration, and payments to beneficiaries. The current level of unrestricted general funds, excluding the inter-charity loan, is £194,141.

c. Material investments policy

The instructions given to the investment manager are to obtain a reasonable long-term overall return on the funds invested at moderate risk, and, at the same time, to aim for income targets set by the Finance and Investment Committee. Reports on performance are prepared quarterly and are reviewed by the Finance and Investment Committee. The investment managers attend at least one meeting of the Investment Committee each year. Due to the pandemic 2020 was a year of considerable volatility in stock markets and over the year the FTSE All Share Index fell 9.8%. The main fund rose in value by 6.0% and the PHBI fund value was unchanged (figures calculated on a total return basis).

d. Principal risks and uncertainties

Risks are kept under review and were re-assessed during the year. The Trustees believe that the four greatest risks to the Charity are:

1) The turbulence in the financial markets and the impact this might have on the Charity's investment income

2) Cyber security

3) Fraud by welfare applicants

4) The loss of key staff members.

The Trustees are satisfied that systems are in place to mitigate these risks or their effects.

e. Financial performance during the year

Total income was £1,313,534 up from £1,041,137 the previous year. This was due to an increase in investment income of £319,769 compared to the previous year. Donations and Legacy income was £176,469 compared with £203,615 in the previous year. Income from rents from accommodation was £264,476 down from £282,491 in the previous year.

Expenditure on charitable activities was £806,455 (2019: £738,946). Expenditure on governance was £30,692 (2019: 68,743)

Net income with investment gains was £1,115,357 (2019: £2,151,951). Total funds carried forward £19,546,261 (2019: £18,430,904)

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THE NATIONAL BENEVOLENT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

! select suitable accounting policies and then apply them consistently;
! observe the methods and principles of the Charities SORP (FRS 102);
! make judgments and accounting estimates that are reasonable and prudent;
! state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
! prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

! so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
! that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.

Auditors

A resolution proposing that Randall & Payne LLP be re-appointed as auditors of the charity will be put to the forthcoming Annual General Meeting.

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by:

Mr Christopher Bell, Chairman of the Committee of Management

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THE NATIONAL BENEVOLENT CHARITY

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL BENEVOLENT CHARITY

Opinion

We have audited the financial statements of The National Benevolent Charity (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 December 2020 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

! give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 December 2020 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
! have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
! have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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THE NATIONAL BENEVOLENT CHARITY

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL BENEVOLENT CHARITY (CONTINUED)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

! the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or
! the parent Charity has not kept sufficient accounting records; or
! the parent Charity financial statements are not in agreement with the accounting records and returns; or
! we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

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THE NATIONAL BENEVOLENT CHARITY

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL BENEVOLENT CHARITY (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

we obtained an understanding of the legal and regulatory frameworks that are applicable to the company. These include but are not limited to compliance with the Companies Act 2006, UK GAAP and tax legislation;
we agreed the financial statement disclosures to supporting documentation;
we made enquiries of management; and
we reviewed board minutes throughout the year.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

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THE NATIONAL BENEVOLENT CHARITY

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NATIONAL BENEVOLENT CHARITY (CONTINUED)

Randall & Payne LLP

Chargrove House Shurdington Road

Cheltenham Gloucestershire GL51 4GA

Date:

Randall & Payne LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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THE NATIONAL BENEVOLENT CHARITY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Note Income and endowments from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 6 Total income and endowments Expenditure on: Raising funds: 7 Movement in provision for regular payments . Voluntary income Charitable activities 8 Total expenditure Net (expenditure)/income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Endowment funds 2020 £ - - - - - - - - - - - - 1,672,692 - 1,672,692	Restricted funds 2020 £ - 191,625 49,756 - 241,381 - - 265,180 265,180 (23,799) (169,874) (193,673) 2,654,749 (193,673) 2,461,076	Unrestricted funds 2020 £ 176,469 72,851 818,833 4,000 1,072,153 (732,470) 83,375 541,275 (107,820) 1,179,973 129,057 1,309,030 14,103,463 1,309,030 15,412,493	Total funds 2020 £ 176,469 264,476 868,589 4,000 1,313,534 (732,470) 83,375 806,455 157,360 1,156,174 (40,817) 1,115,357 18,430,904 1,115,357 19,546,261	Total funds 2019 £ 203,615 282,491 548,820 6,211
					1,041,137
					43,185 90,835 738,946
					872,966
					168,171 1,983,780
					2,151,951
					16,278,953 2,151,951
					18,430,904

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THE NATIONAL BENEVOLENT CHARITY

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2020

Note Fixed assets Tangible assets 13 Heritage assets 14 Investments 15 Current assets Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Provisions for liabilities Net assets excluding pension asset Total net assets Charity funds Endowment funds 20 Restricted funds 20 Unrestricted funds 20 Total funds	7,571 542,903 550,474 (50,895)	2020 £ 1,170,000 359,513 17,698,924 19,228,437 499,579 19,728,016 (181,755) 19,546,261 19,546,261 1,672,692 2,461,076 15,412,493 19,546,261	3,879 746,420 750,299 (35,197)	2019 £ 1,170,000 359,513 17,100,514 18,630,027 715,102 19,345,129 (914,225) 18,430,904 18,430,904 1,672,692 2,654,749 14,103,463 18,430,904

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THE NATIONAL BENEVOLENT CHARITY

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 151 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on _______ and signed on their behalf by:

Mr Christopher Bell, Chairman of the Committee of Management

The notes on pages 20 to 46 form part of these financial statements.

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THE NATIONAL BENEVOLENT CHARITY

CHARITY BALANCE SHEET AS AT 31 DECEMBER 2020

Note Fixed assets Tangible assets 13 Investments 15 Current assets Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Provisions for liabilities Net assets excluding pension asset Total net assets Charity funds Endowment funds 20 Restricted funds 20 Unrestricted funds 20 Total funds	7,954 542,903 550,857 221,774	2020 £ 1,170,000 17,698,924 18,868,924 772,631 19,641,555 (181,755) 19,459,800 19,459,800 1,672,692 2,374,614 15,412,494 19,459,800	5,019 746,420 751,439 272,479	2019 £ 1,170,000 17,100,514 18,270,514 1,023,918 19,294,432 (914,225) 18,380,207 18,380,207 1,672,692 2,604,052 14,103,463 18,380,207

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THE NATIONAL BENEVOLENT CHARITY

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020