THE BRITISH FIRE 5ERWCES AS50aATION MEMBERS WELFARE FUND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEmBER 2021 Charity Number 216011 Accurate Business Consulting Limited Intemational House 24 Holborn Viaduct City of London ECIA 2BN
THE BRrr15H FIRE SERVI AssoaAmoN MEMBERS WELFARE FUND FINANCIAL StATEMENTS YEAR ENDED 31 DECEMBER 2021 CONTENTS PAGE Trustees Annual ReF)Ort Independent examiner's report to the trustees Statement of financial attNities Balance sheet Notes to the financial statements
THE BRITISH FIRE SERVICES AssoaATION MEMBERS WELFARE FUND REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2021 The trustees present their report, independent examinerfs report and the unaudited financial Statements of the charity for the year ended 31 December 2021. REFERENCE AND ADMINisfRATIVE DEtAILS Registered name The British Fire Services Association Member5 Welfare Fund Charity re8iStratlon number 216011 Prlncipal office 9 Home Fami Close Wray Lancaster LA2 8RG Trustees The trustees who served the charity during the year and Sin the year end were as follows: Mr G Halstead MrP W T Mills- Chairman Mr V Fisher Mr R Davie5 Mr M Hall (Appointed 24 March 20221 Management Committee Mr F Clough-Turner MrG Mcsweeney Mr R Lovelace Mrj Watson Principal banker5 Uoyds Bank plc London Road Leicester LE2 IGF Independent examiner Mrs Elaine Roberts FC4 Accurate Business Consulting Limrted International House 24 Holborn Viaduct City of London ECIA 28N
THE BRITISH FIRE SERWCES AssoaATION MEMBERS WELFARE FUND REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2021 srRUCTURE, GOVERNAN AND MANAGEMENT The charity is controlled by its 8oveming document, a deed of trust, and constitutes an unincorporated charity. The fund is managed by a committee comprising= lal The incumbent President and Chairman of the Governillg Council of The British Fire Services Association I'the Association'l and the Trustees of the Fund as ex-officio members. Ibl One Distrirt Representative may be elected annually by each Distritt of the Associatlon. Icl Nine members of the Association to be elected ot the Annual General Meeting of the Association. The members of the Management Committee and the Trustees for the purpose of charity law. who seNed durlng the year and up to the date of this report, are set out above. OBJEcfivES AND AcnvmES The objects of the Members Welfare Fund are to assist necessitous members and ex-members of the British Fire SeThices Association and thelr dependents in accordance with the Rules of the Fund. The Trustees have had due regard to the guidance issued by the Charity Commission on public benefit, which states that there must be an identifiable benefft or benefits to the public or a section of the public. Where the benefits are to a section of the public. the opportunity to benefit must not be unreasonably restricted. The charitable purposes which apply to thi5 charity are the prevention or relief of poverty, and the relief of those in need, by reason of youth. age, ill health, disability. financial hardship or other disadvantage. Access to assistance from the charity is restrirted to past and present members of the British Fire Services A55ociation, but any member of the public holding fire-fighting qualifications may join the British Fire 5ervites Association wwthout any election process. Financial assistance is given to these beneficiaries by mean5 of gUlar maintenance grants or one- off payments. Hospital and home visits are carried out where prarticable. ACHIEVEMENTS AND PERFORMANCE The Trustees and Management Committee have continued to meet requests for assistance from bona fide members and ex-member5 ofthe Association and the Management Committee continue to Vistt members within their area assessing needs. The Committee ha5 taken steps to meet the Charity Commission's recommendations regarding Criminal Record Bureau check5 for members of the Committee who visit vulnerable clients. FINANCIAL REVIEW The charity's fInanS are in a satisfactory state at 31 December 2021. The financial objective is to maintain a balanced portFolio of stock market tempered by the currenl uncertainty of global markets. The primary income of the Fund is derived from drvidends raised from the stock market wrtfolio and interest from building society investments.
YEAR ENDED 31 DECÉM8ER 2021 RESERVES POUCY ReseThes are required in order to continue maknng pèymentsto S members arHI ex-memLws currently deemed in need by of being on the ReguIar 8È[arleS List and to be in a position to give consideration to any new requestforfinancial assistare. Management Committee of the FvrNI has froie) the list of Regular BenefKiarie5 enablinE the payment of one off elants to a wider ranBe of elwdible beneficiaTies. The Fund traces its foots back to IWAI and it is We¥nsi1[ty of Trustee5to rnaintain a flow of irKome enabling the conrinuance of gF3ntsforthe foreseeabte futu. The Trustees a aware Of to which the d¥rity is ex arnl t£tintllslYto counterthem. A more fr)nnal System will be implemented. INDEPENDEKf EXAMINER Elaine Roberts FCA. ofAtcurate Bus#ss Cowltyng Limited has re4ppDintd a5 indèpendent examiner for ensuing year. RESPONSIBILMES OFTHETRUSTEES The trustees are reSnSIble for prepari Annual Rewjft and the financlal statements in accordance with applrable law and United Kingdom Accounts Standards Iuntted Kiwlorn Generally Accepted Accountin8 practi}. Thè law applicable to charities in Ergknd & Wales requires the tF¥JStees to prepare financial 5tatemèllts for each fInar131 yearwlri(h Eive o true and fair vrew of the state of affairs of the tharity and of the incoming resources and application of resources of the thèrity for that rKl. In ppartn8 these financial statements. the trustees arE reqUId to: 5elert suitable ac¢ountin8 prac and appty them nSiStenr. observe rnethods and winoples in the Charities SORP 2015 {F5 I1¥2): fflakeludgement5 estimates that are rea50nabfe &nd prvdent.. .state whether applicatrAe UK Accountir8 Stsndards ten folkJ*d. subkLt to any material departure5 dlsclosed and expfained in the financial ststements: prepare the financial statements on the goi1¥ corfewn bw it fjs inarwoprrate to presume that the tharify w¢ll Continue in operation. The trustees are resnble for keepir% pmperacrountirE Teconts that disclose with SOrtable acasfdcy ai any time the fjnancial postion of the tharity aF¥I enable them to ensu that the financial ststements compiy with the Charttie5 Act 2011, the Charity IAccounts and Report51 Regthatbons 2CW and the provisions ofthe trust deed. Trey are also re5rKJnsible forsafeguardI the assets of the charity and henofortaking rea50noble step5 for the prevent#)n and detectfiorj of fra1 and other irre8ularities. Appioved trythetrusteesoTr 022 and syed on thelr behalfbr. Mr P W TMIIts IChainwn}
THE 8RmsH RRE SERVICES AssoaATION MEMBERS WELFARE FUND INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES YEAR ENDED 31 DECEMBER 2021 I report on the accounts of the charity for the year ended 31 Dember 2021 which are set out on pages 5 to ii. RESPEcfivE RESPONSIBILMES OF TRusfEES AND EXAMINER The charivs 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 144121 of the Charities Act 2011 (the 2011 Actl 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 Charrty Commisslon under section 1451511bl 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 Charf(y Commission. 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 explanètions from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be reqUId in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair View, and the report 15 limited to those matters set out in the ststement below. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention- 111 which gives me reasonable cause to believe that in any material respect the requlrements.. to keep accounting records in accordance with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met- or 121 to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Elaine Roberts FCA, of Accurate Business Consulting Limited International House 24 Holborn Viadutt City of London ECIA 2BN
THE BRITISH FIRE SERVICES ASSOCIATION MEMBERS WELFARE FUND STATEMENT OF FINANCIAL ACTIVITIES YEAR E140ED 31 DECEMBER 2021 Total Total Unrestricted Unrestricted Funds Funds 2021 2020 INCOME AND ENDOWMENTS FROM: Donations and legacies 8A35 830 Investments 16WO 21,429 TOTAL INCOME 25,315 22,259 EXPENDITURE ON: Charitable activities Other expenditure TOTAL EXPENDITURE (12,0031 {10.586 116.5301 18.8331 125,3631 (22,589) Net gains Illossesl on investments NET INCOMEI(EXPENDITURE) 80284 115,3031 83,010 118,4071 NEf MOVEMENT IN FUNDS 83,010 118.407) RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 817,691 836,098 900.701 817,691 The Ststement of Financial Activities includes all galns and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. l of the above amounts relate to continuing activities. Th* notes on page$ 7t0 11 fonn p¥rtofthe¥efinan¢ial statemèrts.
THE 8RMSH FIRE5ERVICESA5500ATIOP4 MEM8ERSWUFAREFUPID 31 DECEP•MR 2(P21 20ZO XEDAS5Ers Imiestments 884216 798.782 CURRÈNT ASSÈT5 Debtors Cash at bank aThJ in hand 884216 798.782 19.999 3,259 21343 UABIUTrE5 Creditors.. Amourts faifinB wrthItto year 23258 14.3491 18,909 TOTAL ASSEfs LESS OJRRE14TUABiunE5 TOTAtNEFA5SETS 817.691 817,691 THE FUNDS OFT(HARiry Unrestricted ftrnds .701 817.691 TOTAL FufiDS 12,429 817,691 Approved by the Trustees on the14tr&4022 and are sd on thebehalfT. MrPWTMilis Chain¥w
THE BRITISH ARE SERVICES A5)QATION MEMBERS WELFARE FUND NOTES TO THE FINANaAL sfATEMEP4TS 31 DECEMBER 2021 ACCOUNTING pouaES a) Basis of accounting The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021 and the Charities Act 2011. The accounts have been prepared under the historical c05t convention wtth items recognised at cost or transaction value unless otherwise stated in the relevant notels) to these accoijnts. The accounts are presented in sterlin8 which is the funrtional currency of the charity and rounded to the nearest E. The British Fire Services Associatron Members Welfare Fund meets the definition of a public benefit entity under FRS 102. The trustees consider that there are no material uncertainties about the charitls ability to continue as a goin8 concem. b) Funds strUcre Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charwtable objects. Unrestrirted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose. No funds are restricted and fvrther details of eoch fund are disclosed in note 16. c) Income All income is recognised once the charity has entitlement to the income, there is suiTicient certainty or receipt and so it is probable that the income will be received, and the amount of income can be measured reliably. Investment income represents dividends and interest received from the investments held. d) Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Grants offered subject to conditions which have not been met at the year-end date are noted as a commrtment but not accrued as expenditure.
THE BRITISH FIRE SERVI AssoaATION MEMBERS WELFARE FUND NOTE5 TO THE FINAN(UL StATEMENTS 31 DEmBER 2021 AccoufmNG pouaES (continued) e) Fixed asset investments Investments are initiaify recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arisin8 on revaluation and disposals throughout the year. The Trust does not acqu1 or use put options. dertvatives or other complex financial instruments. Realised gains and losses All gains and10sses are taken to the Statement of Financial Acttvities as they arise. Realised gains and losses on investments lif any) are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated a5 the difference between the fair value at the year end and their carrying value. Realised lif any) and unrealised Investment gains and losse5 are combined in the Statement of Financial Actrvities.
THE BRITISH RRE SERVI ASSOQATION MEMBERS WELFARE FUND NOTES TO THE FINANCIAL STATEMENT5 31 DECEMBER 2021 DONATIONS AND LEGAaES Unrestrfrted Unrestricted Totsl Funds Total Funds 2021 2020 Donations 8A35 830 INVESTMENT INCOME Unrestrirted Unrestrirted Totsl Funds Total FLFnds 2021 2020 Fixed asset investments 16,880 21.429 16,880 21,429 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestrirted Unrestricted Totsl Funds Total Funds 2021 2020 Direct costs Grants Postage and stationery Secretary honorarium and expenses Accountancy and legal fees Committee and incidental expenses 2,220 5,575 128 2,220 1,860 2,220 10,050 79 2,220 1.860 ioi I2,(3 16,530
THE BRITISH FIRE SERVICES AssoaATION MEMBERS WELFARE FUND NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2021 ANALYSIS OF GOVERNANCE COSTS Unrestrirted Unrestrirted Total Funds Total Fund5 2021 2020 Independent examiners fees Accountancy Committee expenses 420 420 1,440 ioi 1.961 OTHER EXPENDITURE Unre5trfrted Unrestricted Total Funds Total Funds 2021 2020 Investment management fees 10,586 8,833 TAXATION Owing to its charitable status the charty is not liable to corporation tax on its income and capital gains under the Corporation Tax Act 2010. TRUSTEE REMUNERATION No trustees received remuneration or other benefft in cash or kind during the year {2020- £nill- Expenses amounting to £nil12020 £101) have been reimbursed to 4 {2020- 51 trustees during the year. RELATED PARTY TRANSAcfioNS There were no related party transaction5 during the year {2020- nill. -io-
THE BRMSH FIRE SERVICES ASSOCIATION MEMBERS WELFARE FUND NOTES TO THE FINANaAL STATEMENTS 31 DECEMBER 2021 10. FIXED ASSET INVEsTMEr5 Usted investments 2021 2020 Market Value at lJanuary2019 Additions at cost Disposals Unrealised gains/llosses1 Market Value at 31 December 2019 798.782 371,061 1365,9111 80,284 797,766 106,321 190,0021 115,3031 798,782 884,216 11. DEBTORS 2021 2020 Other debtors Barclays Wealth deposiv income account Tax refundable 2,982 18,271 1,728 19,999 12. CREDITOR5: Amounts fallinE due within one year 2021 2020 Accruals and other creditors 4,858 4,349 4.858 4,349 13. ANALYSIS OF CHARITABLE FUNDS ANALYSIS OF MOVEMENT IN UNREsfRICTED FUNDS Balances Iorne Expendlture TraTrsfets Galns and Balances b/forward losses clfonvard General fund 817,691 25,315 (22.589) (22,589) 80,284 900,701 817,691 25.315 80,284 900.701 -li-