THE MINISTERS' BENEVOLENT SOCIETY
Registered Charity No. 219049
Trustees' Report and Accounts For the Year Ended 30th September,2025
Notice is hereby given that the 173rd Annual Meeting of members and subscribers will be held online on Tuesday 2nd December,2025 at 2.00pm to receive the Report and Accounts for the year ended 30th September,2025 to elect the Officers and Other Directors for the ensuing year. and to conduct any other business matters arising
The Ministers' Benevolent Society Regsistered Charity No.219049
Annual Report & Accounts
FOR THE YEAR ENDED 30th September,2025
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Officers 2024-2025
President. Rev.Martin Whitell Secretary: Rev.Donald Phillips Treasurer.Mr Roland Kay Other Directors Retire in 2025 Retire in 2026 Rev.Michael Dadson Mrs Jane Couper Rev.Sheena Gabriel Mr.Alexander Ellis Rev.Anthony Howe
Bankers
HSBC, 130 New Street, Birmingham B2 4JU
Solicitors
Mrs J.Hobday, Veale Wasborough Vizards LLP 3, Brindley Place, Birmingham B1 2AB 0121 227 3700
Fund Manager
BNY Mellon Fund Managers Ltd 160, Queen Victoria St, London EC4V 4LA (Client Services Centre, PO Box 366, Darlington DL1 9RF)
Stock Broker
EFG Harris Allday, 5th Floor, 102 Colmore Row, Birmingham B3 3AC
Independent Examiner
Mr.D.L.Worwood, , 8 Showell Lane, Penn, Wolverhampton WV4 4UA 1902893211
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Any Face to Face Meetings of the Society are held at Unitarian New Meeting House, 31, Ryland Street, Five Ways Birmingham B18 8BL
Ministers’ Benevolent Society Registered Charity No. 219049
Report of the Directors for the year ended 30th September 2025
The Directors present their Report along with the Accounts of the Charity for the year ended 30[th] September 2025. The Accounts have been prepared in accordance with the accounting policies set out herein and comply with the Charity’s Governing Document and with applicable law.
1. Constitution & Objects
The Governing Document is the Constitution approved by the Charity Commission on 19th January 2016, adopted at the Annual General Meeting on 6th December 2016 and subject to Administrative Changes made at the Annual General Meeting on 6th December 2022. The Objects of the Society are: first the relief of hardship and distress generally and individually amongst Ministers and Lay Pastors on the Roll of the General Assembly of Unitarian and Free Christian Churches who have been elected as Beneficiary Members of the Society and who from age or infirmity are unable to discharge the public duties of their offices and amongst the dependants of the above and also amongst those who were dependants when the Ministers or Lay Pastors died; second to donate the annual income surplus to the Ministers’ Pension Fund Registered Charity No. 235410.
2. Management & Governance
The Society is managed by a Board of Directors whose members are the Managing Trustees of the Society within the meaning of Section 97 of the Charities Act 1993, and shall consist of the President, the Secretary and the Treasurer, each of whom shall be elected at the Annual General Meeting, and six other persons being members of the Society, of which number not less than two, nor more than four, shall be or shall be eligible to be Beneficiaries. In the event of any vacancy in their number, by death or resignation, such vacancy may be filled by the Board of Directors and the person so appointed shall hold office until the next Annual General Meeting. At each Annual General Meeting, it is normal practice for the three of the six Directors as shall have been the longest on the Board, to retire and be eligible for re-election for a further two-year term.
3. Organisation
The names of the Managing Trustees who have served during the year are set out on the front cover of the Report and Accounts. At the last AGM in December 2024, Mrs Jane Couper and Mr Sandy Ellis were re-elected to serve until 2026.
At the AGM in December 2025 Rev Michel Dadson, Rev Sheena Gabriel and Rev Anthony Howe will retire. Whereas Rev Michael Dadson has chosen to retire permanently, Rev Sheena Gabriel and Rev Anthony Howe will be eligible for reelection for a further two years. Also, at the last AGM in December 2024, the Charity’s long-serving Treasurer Mr. Roland Kay indicated his wish to retire as Treasurer by the end of 2026. On 1st October 2025 the Society welcomed Rev Kieren Mardle-Moss as its new Treasurer and Mr Roland Kay formally retired after more than forty years of dedicated service to the Society.
4. Achievement & Performance
During the year, in pursuance of the Objects of the Charity, the Directors continued to support our Ministers and their families in times of need and will always be grateful
to know of anyone you feel may benefit from financial help from the Society. This was made possible due to the on-going, prudent handling of our investments and accounts by our treasurer Roland Kay linked with the sensible policies of the Directors. The Directors take into consideration the ‘public benefit guidance’ provided by the Charities Commission when making these decisions.
Two beneficiaries received Annual gifts (Type 1). From the Philip Holt Fund two additional grants were made (Type 2). The oldest of these four beneficiaries was ninety-five and the youngest is eighty.
The Society made twenty-four Special grants to ministers and dependents ranging from help with funeral expenses to help in times of illness, injury and bereavement (Type 4).
The Philip Holt Education Fund has provided grants to seven children of five ministers (Type 5).
In accordance with the second Object of the Society the Directors donated £30,000 to the Ministers’ Pension Fund from the overall surplus of the year to 30th September 2024.
5. Financial Review
Our income for the year was £39,967 and expenditure £79,729, made up of grants totalling £71,676 and administrative expenditure of £8,053. Hence the net revenue deficit was £39,782.
On the capital side, the value of our funds rose from £1,598,680 at the beginning of the year to £1,663,830 at the year end. There was an investment revaluation gain of £104,912 less the deficit of £39,762 leading to the net gain of £65,150.
The funding situation of the Society remains satisfactory.
6. Risk Management
The Trustees have examined the major strategic, business, and operational risks which the Charity faces and confirm that systems have been established so that the necessary steps may be taken to lessen these risks.
7. Automatic Disqualification – Guidance for Charities
To achieve compliance with Charity Commission guidance the Trustees have undertaken to each make regular declarations that they are not disqualified from being charity Trustees for any of the Legal Disqualifying Reasons.
8. Membership
The total number of Beneficiary Members showed a net increase of five, to 114 during the year ended 30th September 2025.
Rev Martin Whitell President
The Ministers' Benevolent Society
Registered Charity No. 219049
Accounting Policies :
1) Accounting convention
The accounts are prepared under the historical cost convention as modified by the inclusion of the investments at market value. The accounts have been prepared in compliance with the Statement of Recommended Practice for Charity Accounts.
The Charity has taken advantage of the exemption in FRS 102 from the requirement to produce a cashflow statement on the grounds that it qualifies as a small charity.
2) Investment Income
Investment income is included in the Statement of Financial Activities when received. Interest is included in the Statement of Financial Activities on an accrual basis .
3) Expenditure
All expenditure relating to the year is included in the Statement of Financial Activities.
4) Cash at EFG Harris Allday
The retained earnings from prior years are held in two accounts at EFG Harris Allday -
one for the MBS Fund and one for the Editha Taylor Fund. Interest earned is added to the Capital amount quarterly.
5) Stock market Investments
The Newton Stock market Investments are managed by BNY Mellon Fund Managers, of 160, Queen Victoria Street, London EC4V 4LA who valued them as at 30th September,2025 .
THE MINISTERS' BENEVOLENT SOCIETY Charity No.219049
Balance Sheet as at 30th September,2025
| £ £ MBS Fund Editha Taylor F 1,456,250.00 0.0 2024 |
£ und ASSETS 0 1,456,250.00 1 Investments at Market Value 2 Cash HSBC Bank, MBS Current A/c No. Editha Taylor Current A/c No. 0 Cash at Harris Allday 0 3 Prepayments less Accruals 0 Accruals 0 142,547.00 1,598,797.00 REPRESENTING: 0 1,486,478.00 The Funds at the Start of the Year ) 112,319.00 Movement in Funds during the Year 0 1,598,797.00 The Funds at the End of the Year |
2025 £ £ £ MBS Fund Editha Taylor Fund 1,561,161.63 0.00 1,561,161.63 |
|---|---|---|
| 12,510.00 98,239.00 34,205.0 |
3,718.11 0.00 64,633.58 34,892.60 68,351.69 34,892.60 (576.20) 0.00 67,775.49 34,892.60 |
|
| 110,749.00 34,205.0 (2,407.00) 0.0 |
||
| 108,342.00 34,205.0 |
||
| 1,451,563.00 34,915.0 113,029.00 (710.00 |
102,668.09 1,663,829.72 1,564,592.00 34,205.00 1,598,797.00 |
|
| 64,462.12 687.60 65,149.72 |
||
| 1,564,592.00 34,205.0 |
1,629,054.12 34,892.60 1,663,946.72 |
Newton Growth & Income Fund for Charities Newton Global Income Fund
| INVESTMENT SUM Legal Entity Ide |
MARY AS AT 30t ntifier VMMM74B |
h September 2025 JK67DIRDE9J26 |
MARKET VALUE £ 1,031,252.83 27.8% 224,142.83 529,908.80 31.6% 127,386.80 1,561,161.63 29.1% 351,529.63 351,529.63 |
||
|---|---|---|---|---|---|
| UNITS | COST |
SURPLUS/ (DEFICIT) B/FWD |
REVALN SURPLUS/ (DEFICIT) THIS YR |
MARKET VALUE |
|
| 544,110,604 159,375,861 TOTAL |
£ 807,110.00 402,522.00 |
£ 157,163.00 89,455.00 |
£ 66,979.83 37,931.80 |
||
| 1,209,632.00 | 246,618.00 | 104,911.63 | |||
| 7.20% |
The Stock market Investments were valued as at 30th September,2025
by BNY Mellon Fund Managers Ltd of 160, Queen Victoria Street, London EC4V 4LA.
APPROVED BY THE TRUSTEES
M.WHITELL J.R.KAY 30 October 2025 President Treasurer Date
Report of Independent Examiner
Respective Responsibilities of Trustees and Exmainer
The Charity's Trustees are responsible for the preparation of the Accounts in accordance with the Charities Act 2011 ("the Act"). The Charity's Trustees consider that an Audit is not required for this year under section 144 of the Act and that an Independent Examination is needed.
It is my responsibility to
i. To examine the Acounts under section 145 of the Charities Act
ii.To follow the applicable directions given by the Charity Commission under Section 145(5)(b) of the Act, and
iii. To state whether particular matters have come to my attention.
Independent Examiner's Statement
In connection with my examnation, no material matters have come to my attention which cause me to believe, in any material aspect:
i.The Accouunting records were not kept in accordance with Section 130 of the Act, or the accounts did not accord with the accounting records, or
ii.The accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examniation.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper undertanding of the accounts to be reached.
Doylan L. Worwood
22 October,2025 Independent Examiner Date
i.
THE MINISTERS' BENEVOLENT SOCIETY Charity No.219049
Statement of Financial Activities for the Year ended 30th Septmber, 2025
| 2024 £ £ £ MBS Editha Taylor Total 1 INCOME: 36,389.00 36,389.00 Dividend Income 2.6% 2,889.00 790.00 3,679.00 Bank Interest Received 2.14% 2.00 2.00 Members Subsciptions 300.00 300.00 Donations Received 39,580.00 790.00 40,370.00 Less EXPENDITURE 2 Charitable Grants 5,300.00 5,300.00 Type 1 Grants to MBS Beneficiary Members 9,296.00 9,296.00 Type 2 Philip Holt Grants to Non-Beneficiary Members 13,644.00 13,644.00 Type 4 Special Grants to MBS Members 8,500.00 8,500.00 Type 5 Philip Holt Educational Grants 10,000.00 10,000.00 Grant to the Ministers' Pension Fund 46,740.00 0.00 46,740.00 3 Administration Expenses 4,700.00 4,700.00 Secretarial Honorarium 0.00 Bank Charges 0.00 Legal Fees 0.00 Independent Examiner's Fee 1,500.00 1,500.00 Accountancy Fee 708.00 708.00 Other Secretarial Expenses 0.00 Sundry Admin Expenses 5,408.00 1,500.00 6,908.00 52,148.00 1,500.00 53,648.00 (12,568.00) (710.00) (13,278.00) 4 Operating Surplus/(Deficit) 125,597.00 0.00 125,597.00 5 Gain/(Loss) on Revaluation of Investments 113,029.00 (710.00) 112,319.00 6 Grand Total Surplus/(Deficit) |
2025 £ £ £ MBS Editha Taylor Total 37,422.78 37,422.78 1,394.58 687.60 2,082.18 162.10 162.10 300.00 300.00 39,279.46 687.60 39,967.06 100% 5,300.00 5,300.00 10,396.00 10,396.00 15,980.00 15,980.00 10,000.00 10,000.00 30,000.00 30,000.00 71,676.00 0.00 71,676.00 179% 4,935.00 4,935.00 67.20 67.20 2,401.00 2,401.00 250.00 250.00 0.00` 0.00 699.75 699.75 (299.98) (299.98) 8,052.97 0.00 8,052.97 20% 79,728.97 0.00 79,728.97 199% (40,449.51) 687.60 (39,761.91) -99% 104,911.63 0.00 104,911.63 262% 64,462.12 687.60 65,149.72 163% |
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HONORARY LIFE MEMBERS Mr. O J E Beale Worcester Mr. A H Ellis Stafford Mr. M J Kenrick Chaddesley Corbett Mr. J A H Norman Chester
(Rule 4. Honorary Life Members are those persons making a donation of Twenty Pounds or more at any time.
No Honorary Members shall derive any benefit from the funds of the Society.)