Charity Registration No. 215185
## NOTTINGHAM MUNICIPAL CHARITIES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
NOTTINGHAM MUNICIPAL CHARITIES
incorporating
## BILBY’S & COOPER’S RELIEF IN NEED CHARITY
## SIR THOMAS WHITE’S LOAN CHARITY
## CHARITY REGISTRATION NUMBER
215185
## ADDRESS
23 Magnolia Court Beeston Nottingham NG9 3LG
## TRUSTEES
R.S. Nowell (Chair) L.M. Payne J. Ashton
## CLERK TO THE TRUSTEES
Currently vacant
## ACCOUNTANTS
Poole Associates Limited 6a George Street Hockley Nottingham NG1 3BE
## BANKERS
National Westminster Bank plc 16 South Parade Nottingham NG1 2JX
Page 1
NOTTINGHAM MUNICIPAL CHARITIES
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their report and unaudited financial statements for the year ended 31 December 2024.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## Governing document
The organisation is made up from the amalgamation of Sir Thomas White’s Loan Charity and Bilby’s & Cooper’s Relief in Need Charity. The trusts are administered by schemes approved by the Charity Commission, dated 4 December 1973 and 8 November 1984, as amended on 26 September 2013.
## Recruitment and appointment of trustees
There may be appointed up to five trustees. The trustees are required to live or carry on business in or near the City of Nottingham.
## Organisational structure
The trustees meet at least twice yearly, and are responsible for the strategic direction and policy of the charity. During the year ended 31 December 2024 the Trustees met on three occasions. At present, the trustees are from a variety of professional backgrounds, relevant to the work of the charity.
The on-going day to day administration and management of the charity is delegated to the Clerk to the Trustees.
## Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
In accordance with the requirements of the Charities SORP the Trustees continue to review the risks inherent in the Charity’s activities and to ensure that systems exist to mitigate those risks.
## Public Benefit
The Trustees have had regard to The Charity Commission guidance on public benefit and consider that the objectives and activities of the charity fulfil their requirement.
The trust’s activities and beneficiaries are described below.
## Objectives and activities
- a) **Bilby’s & Cooper’s Relief in Need Charity** : to apply the income in relieving either generally or individually persons resident in the City of Nottingham who are in need, hardship or distress.
- b) **Sir Thomas White’s Loan Charity** : to provide interest free loans up to £10,000 for persons between the ages of 18 and 40 years, resident in the City of Nottingham, to be used for the purpose of trade or business, and the application of monies received for the benefit of Nottingham High School.
Page 2
NOTTINGHAM MUNICIPAL CHARITIES
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
## **ACHIEVEMENTS AND PERFORMANCE**
Bilby’s & Cooper’s Charity received and approved 8 applications for donations during the year (2024 – 7 applications).
Sir Thomas White’s Charity received no applications for business loans during the year.
However £317,271 was paid to Nottingham High School during the year to fund scholarships. Throughout the School Year 2023-2024 there were 74 Sir Thomas White’s Entrance Scholars at Nottingham High School between Year 8 and Leavers.
## **FINANCIAL REVIEW**
During the year there were net incoming resources amounting to £2,835. However there was an unrealised profit arising during the year in the value of investments amounting to £999, resulting in an overall increase in the value of funds amounting to £3,834.
8 applications for donations were received and approved during 2024 from individuals or groups who are resident in the City of Nottingham by the Bilby’s & Cooper’s Relief in Need Charity.
The Trustees continue to experience difficulties in making loans from the substantial cash reserves in the Sir Thomas White’s Loan Charity, and have endeavoured to publicise the availability of loans to the business community of Nottingham. A website has been developed to help promote the availability of these loans. The distribution from Sir Thomas White’s Charity of Coventry is passed onto the Nottingham High School, to fund scholarships, as required under the terms of the distribution.
## Principal funding sources
The principal funding sources of the charity are the distribution from Sir Thomas White’s Charity of Coventry, interest received and income generated from its investments.
## Reserves policy
The Trustees have reviewed the charity’s needs for reserves in line with the guidance issued by the Charity Commission.
The unrestricted income fund represents reserves to cover the charity’s running costs. At the end of 2024 the fund stood at £200,788 (2023 £197,953). This is represented by £50,242 (2023 £51,075) in the Bilby’s & Cooper’s Relief in Need Charity and £150,546 (2023 £146,878) in Sir Thomas White’s Loan Charity.
The unrestricted income funds represent reserves to cover the charity’s running costs, to generate income to permit donations to be made, and to fund new loans. The Trustees review the level of the income funds annually, to ensure that they are adequate, but not excessive.
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NOTTINGHAM MUNICIPAL CHARITIES
## TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
## Responsibilities of the Trustees
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
R S Nowell Chairman
Date: 28 October 2025
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NOTTINGHAM MUNICIPAL CHARITIES
## FOR THE YEAR ENDED 31 DECEMBER 2024
I report on the accounts of the Trust for the year ended 31 December 2024 which are set out on pages 6 to 12.
## RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act;
- follow the procedures laid down in the General Directions given by the Charity Commissioners under Section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## BASIS OF INDEPENDENT EXAMINER’S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the next statement.
## INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with Section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
- have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**N G Poole**
Chartered Certified Accountant
6a George Street Hockley Nottingham NG1 3BE
Date: 28 October 2025
Page 5
## NOTTINGHAM MUNICIPAL CHARITIES
## STATEMENT OF FINANCIAL ACTIVITIES
## FOR THE YEAR ENDED 31 DECEMBER 2024
|INCOMING RESOURCES
Incoming resources generated from funds
Investmentincome
Interest receivable
Incoming resources from charitable
activities
Compensation from Natwest Bank Plc
Charitable distributions
RESOURCES EXPENDED
Charitableactivities
Nottingham High School: Scholarships
Donations: Relief in Need
Governance costs
Total resources expended
NET INCOMING RESOURCES
Net gain/(loss) on
investments
Net movement in funds
Fund balances brought forward at
01.01.2024
Fund balances carried forward at
31.12.2024|Note|Unrestricted
Sir
Thomas
Income Endowment
White’s
Total
Fund
Fund
Charity
2024|Total
2023|
|---|---|---|---|
|||£
£
£
£
1,345 -
-
1,345
521
-
2,864
3,385
1,866
-
2,864
4,730
-
-
-
-
-
-
318,271 318,271
1,866
-
321,135 323,001
-
-
317,271 317,271
2,935
-
-
2,935
2,935
-
317,271 320,206
(236)
-
196
(40)
2,699
-
317,467 320,166
(833)
-
3,668
2,835
-
1,000
-
1,000
(833)
1,000
3,668
3,835
51,075
14,485
146,878 212,438
50,242
15,485
150,546216,273|£
1,262
2,596|
||||3,858
100
299,408|
||||303,366|
||||298,408
4,230|
||||302,638
605|
||||303,243|
||||
124
501|
||||416
211,813|
||||212,438|
Page 6
## NOTTINGHAM MUNICIPAL CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
Page 6
## NOTTINGHAM MUNICIPAL CHARITIES
## BALANCE SHEET
## AT 31 DECEMBER 2024
|FIXED ASSETS
Investments
CURRENT ASSETS
Debtors
Cash at Bank
CREDITORS:Amounts
falling due within one year
NET CURRENT ASSETS
NET ASSETS
Represented by:
FUNDS
RESTRICTED
FUNDS
Permanent Endowment Fund
UNRESTRICTED FUNDS
Accumulation of Income Fund|Note
4
5
6
7
7|2024
£
30,822
30,822
-
186,660
186,660
1,209
185,451
216,273
15,485
200,788
216,273|2023
£
29,822|
|---|---|---|---|
||||29,822|
||||-
183,872|
||||183,872
1,256|
||||182,616|
||||212,438|
||||14,485
197,953|
||||212,438|
The financial statements were approved by the Board of Trustees on 28 October 2025 and signed on their behalf by:
## R.S. NOWELL
The notes on pages 8 to 12 form part of these financial statements
Page 7
NOTTINGHAM MUNICIPAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 31 DECEMBER 2024
## 1. ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Charities SORP (FRS102) “Accounting and Reporting by Charities Statement of Recommended Practice Accounting 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 2015) and Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
## a) Basis of Accounting
The financial statements have been prepared under the historical cost convention with the exception of the investments, which are included at market value.
## b) Investments
Investments are stated at market value at the year end. The market value of quoted securities is based on the quotation on the relevant stock exchange. Unquoted investments are valued at the market value provided by the Institution in which the investments are held. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.
## c) Funds
The income funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The permanent endowment fund represents the shares in the M&G Charity Multi Asset Fund held by the Bilby’s & Cooper’s Relief in Need Charity.
Investment income and gains are allocated to the appropriate fund.
## d) Incoming Resources
The income for the year represents amounts received during the year.
## e) Resources Expended
The expenditure for the year represents amounts incurred during the year.
Page 8
NOTTINGHAM MUNICIPAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 31 DECEMBER 2024
## 2. GOVERNANCE COSTS
|GOVERNANCE COSTS|||||
|---|---|---|---|---|
|Accountancy
Expenses overprovided in earlier years
Printing, postage & stationery
|
|2024
£
600
(648)
8
(40)
||2023
£
600
-
5
605
|
||||||
## 3. TRUSTEES’ REMUNERATION
No Trustees received any emoluments or expenses during the year (2023: £Nil).
## 4. INVESTMENTS
On 15 November 2019 the National Association of Almshouses Common Investment Fund merged into the M&G Charity Multi Asset Fund.
|Market Value
At 1 January 2024
Adjustment to market value
At 31 December 2024
5. DEBTORS
: Due within one year
Sir Thomas White’s Charity
loans|Listed
Income
Shares
£
29,822
1,000
30,822
2024
£
-
-||2023
£
-|
|---|---|---|---|
|||||
||||-|
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NOTTINGHAM MUNICIPAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 31 DECEMBER 2024
|6. CREDITORS
: Amounts falling due within one year
Accruals
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Accumulation
of
Income
Funds
£
Fixed Assets
15,337
Current assets
186,660
Creditors
(1,209)
200,788
Bilby's & Cooper's
Relief in Need Charity
50,241
Sir Thomas
White's
Loan Charity
150,547
200,788|6. CREDITORS
: Amounts falling due within one year
Accruals
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Accumulation
of
Income
Funds
£
Fixed Assets
15,337
Current assets
186,660
Creditors
(1,209)
200,788
Bilby's & Cooper's
Relief in Need Charity
50,241
Sir Thomas
White's
Loan Charity
150,547
200,788|6. CREDITORS
: Amounts falling due within one year
Accruals
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Accumulation
of
Income
Funds
£
Fixed Assets
15,337
Current assets
186,660
Creditors
(1,209)
200,788
Bilby's & Cooper's
Relief in Need Charity
50,241
Sir Thomas
White's
Loan Charity
150,547
200,788|2024
£
1,209
Permanent
Endowment
Fund|2023
£
1,256|
|---|---|---|---|---|
|||||Total|
|Fixed Assets
Current assets
Creditors
Bilby's & Cooper's
Relief in Need Charity
Sir Thomas
White's
Loan Charity|||||
|||£
15,337
186,660
(1,209)|£
15,485
-
-|£
30,822
186,660
(1,209)|
|||200,788|15,485|216,273|
|||50,241
150,547|15,485
-|65,726
150,547|
|||200,788|15,485|216,273|
The unrestricted funds represent free funds of the charity, which are not designated for particular purposes.
The Permanent Endowment Fund represents those assets, which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
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NOTTINGHAM MUNICIPAL CHARITIES
## GROUPED STATEMENT OF FINANCIAL ACTIVITIES
## FOR THE YEAR ENDED 31 DECEMBER 2024
|INCOME AND EXPENDITURE
INCOMING RESOURCES
Income from Sir Thomas White’s
Charity of Coventry
Interest received
Investment income
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Direct Charitable Expenditure
Nottingham High School:
Scholarships
Donations : Relief in Need
Other Charitable Expenditure
Management and Administration
of the charities
TOTAL RESOURCES EXPENDED
NET INCOMING/(OUTGOING)
RESOURCES
Gain on disposal of shares
Unrealised profit on investments
NET MOVEMENT IN FUNDS
Fund balances brought forward
at 1 January 2024
Fund balances carried forward
at 31 December 2024|||Bilby’s
& Cooper’s
Sir Thomas
Relief in Need White’s Loan
Charity
Charity
Total
£
£
£
-
318,271
318,271
521
2,864
3,385
1,345
- 1,345
1,866
321,135
323,001
-
317,271
317,271
2,935
-
2,935
(236)
196
(40)
2,699
317,467
320,166
(833)
3,668
2,835
-
-
-
1,000
-
1,000
167
3,668
3,835
65,560
146,878
212,438
65,727
150,546
216,273|
|---|---|---|---|
|||||
|||||
Page 11
NOTTINGHAM MUNICPAL CHARITIES
## GROUPED BALANCE SHEET
## AT THE YEAR ENDED 31 DECEMBER 2024
|
FIXED ASSETS
Investments
CURRENT ASSETS
Cash at Bank
Other Debtors
CREDITORS:
Amounts falling due
within one year
Accruals
NET CURRENT ASSETS
NET ASSETS
Represented by:
CAPITAL FUNDS
Permanent Endowment Fund
INCOME FUNDS
Unrestricted Income Fund|Bilby’s
& Cooper
Sir Thomas
Relief in Need White’s Loan
Charity
Charity
Total
£
£
£
30,822
-
30,822
35,508 151,152 186,660
-
-
-
35,508
151,152
186,660
(604)
(605)
(1,209)
34,904
150,547
185,451
65,726
150,547
216,273
15,485
-
15,485
50,241
150,547
200,788
65,726
150,547
216,273
|
|---|---|
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