UNITE THEI UNION BENEI VOLENT FUND CHARITY TrIUIVIBEI R: 228567 I PORT AND ACCOUNTS FOR THf YEI AR EI NDED 31 DF.CEMBKR 2022
UTrIITE THE UNION BE¢ NEVOLENT FUND YEI AR TO 31 DEI CEMBfi Il 2022 Ir4DEI X Pages 1-2 Truste¢s Annual Report Page 3 Receipts ai)d Payments Account Page 4 Statemcnt of Assets and Liabilities Page S Independent Examiner's Report
UNITf THE UNION BENFVOLENT FUND TRUSTE£1 S, ANNUAL Rfi POIIT fiOR THE YCI AR ENDED 31 DECEMBER 2022 Inti'odu¢tion Th¢ Unite the Union Benevolent fund was fornied fiDin the UNIFI B¢nevolenl Fund in Novetnber 2007. The fLind is pi'imai'ily for the benefit of membei's and staff of Unite the Union. The new Constitution and changc of nainc wcrc approved by the Charity Commission. The receipts ai)d payinenls account on pagc 3 and the stalenicnl of assets and liabilities on pag¢ 4 have been examined by the Independent Examinei's, Francis Clai'k LLP. Refeiynce Rnd administration details Charity name: Unite the Union Benevolent Fund Registered Chai'ity numbcr.. 228567 Principal addi'ess.. Unite HOLISC 128 Theobald's Road City of London WCIX 8TN Bankers Unity Trust Bank Trustees Mrs Margaret Hazell Mr Tim Harper (Chair) Mr Siephcn Skinnei. (Secretary) Structure, Governance And Management The Charity is govei'ned by the Constitution and r¢gulations dalcd Dccetnbcr 1964 as amended I l April 1979, 12 March 1991. 17 Mairh 1998 and 15 Noveinbei. 2007. .1 rustces are appointed and i'emoved by the Joint Executive Cointnittee (or any equivalent successor body). Therc were six meetings of the Trustees in 2022. Objectives and activities The objects of the Charity are: A. To provide ben¢fits to Inembers or employees or ex•employees of Unite ihe Union or any successor union (hei'einafter r¢ferr¢d to as 'th¢ Union,) or Ih¢ir dependents, who may be in distressed circumstances. B. To consider applications from the public whether members of the Union or not, at the discretion of th¢ Fund. C. To make monetary gran15 or donations or render other assistance to any institution or association which can also render benefits of assistance to distressed persons as mor¢ specifically referred to in clauses A or B above. The main activity in relation lo these objects 15 the payment of grants to beneficiaries.
UNITE THEI UNION BENEI VOLEI NT fi UND TRUSTCI ES, Ai¥if4UAL REPORT fiOII TFIE YEI AR EIYDEI D 31 DECEI MBER 2022 Public benefit Th¢ Trustees have given due regai'd to public beiicfil when planning the Charity's activities. in accordance witl) Ilic Cliai'ity Cominission's Guidaiic¢ on Public B¢nefil. Tlie TrustCe5 Anniial Repoit set5 Ollt OLir aclivilics, acl)ievcm¢iils and pcrfoi'inance diirii)g the ycai., which ai'c directly relalcd to the objcct5 and purposes foi. whicl) thc Cliai'ity exists. l-he Cliarity acl)icves its pi'incipal objects ai)d piirposcs Ihi'ougl) i)roviding financial hclp for peoplc connccled to Unite thc Union who may be disti'essed cii'ciimslaiices. Thesc benefits al'e directly related to tlie aims of tlie Charity and al'e fully compliant witli the Cliarity Cominission Guidance on Piiblic Bei)ef5t. Applicants The numbei. of 8ppli¢ations dui'ing the year was 322 (2021.. 561). Financial review Income lo the Flind is derived from the Union's Lottery and tlie Charity's invesltnenls supplemeiited by a sinall niitnber of ad l)oc donations. Kcceipls foi. the year totalled £107,903 (2021.. £228,175) including £39.923 (2021.. £65,427) in lottery donations. Payments totalled £1 11,293 (2021.. £202,143) of whicl) £91,961 (2021.. £90,145) was paid out in grants to beneficiarics and £14,347 (2021.. £105,075) i'claled to PLlI'cliase of assets iEtained foi. investment purposes. Net payinenls were £3,390 (2021.. Net receipts £26,032). The restricted fiinds balance of £54.657 is in respect of the Jack Laity bequest to the UNIFI BrBnch Bristol & Avon foi. the benefit of tlieii. meinbers. UNIFI used this tnoiiey to establisli the Paiiline Oritz Fund and spent £2 Ik of the original bequest. The balance was held by AMICUS for seven y¢8rs and was finally transferred into this cl)ai'ity in early 2012. 'ro refl1 the omission in the 2021 a¢¢oiints of an inv¢slm¢nt in two unil trusts (known as Redmayne Bcntley Exc¢ulion-only Fund {M&G)), the 2021 comparative figure for investments under'non-monelary asscts" has been iiici'cased by an amoiinl of £278,031 lo reflect the prior ycar adjusltnent. The Triistees are monitoi'ing closcly Ilie itnpact that thc current cconoinic and political enviionment may have on the Charity's dividend incoine and believe the short to Inedium tei'in itnpact on liquidity will not aff¢¢l the ability of the Charity to fulfil its aims and coinmilments. Reserves The FLinds' Truslecs are of the opinion th&t uncomrnitted I'escrve5 shoiild be kept to a miniinutn. However. tholigh the Benevolent fund is anxious to fulfil this, it is still tnindfLII to distribute all monies received only to the most deserving llpplic<1nts. Deelaration Approved by the Trustees on 04 September 2024 and signed on iheir behalfby: Stephen Skinner Triisle¢ and Secret Tim Harper Chair
UNITE THE UNION HENEI VOLEI NT FUND RECEI iyrs AND PAYMEI NTS ACCOUNT FOR THE YEAR ENDED 31 DEI CEI MBER 2022 2022 Unrestrlcted Restrlcted 2021 Total Funds Total RECEIPTS Income Receipts Sundry Donations (including Lottery) Bank Interest Dlvidends Investments Sold Miscella neous 45,759 io 40,908 21.202 24 45.759 io 40,908 21,202 24 66,992 137,523 23,659 TOTAL RECEIPTS 107,903 107.903 228,175 PAYMENTS Direct Charit8 bl8 Expenditure Grants to Beneficiaries Other Expenditure Independent Examiner's Fees Bank Charges Trustees, Exp8nses Additional Investment Management Fees Miscellaneous 91,961 91,961 90.145 1,698 130 230 14,347 2,927 1,698 130 230 14,347 2.927 1,870 1.650 105,075 3,216 187 TOTAL PAYMENTS 111.293 111,293 202,143 Net RecelptsllPaymentsl before Trangferg 13,3901 13.3901 26,032 TRANSFERBETWEEN FUNDS NETRECEIPTSIIPAYMENTSI FOR THEYEAR 13,3901 13,3901 26,032 CASH FUNDS BROUGHTFORWARD 9,888 54,657 64,545 38,513 CASH FUNDS CARRIED FORWARD 6.498 54.657 61,155 64,545
UNITE THK UNION BEI NEVOLEI NT FUND STATfi METr4T OF ASSETS AND LIABILITEEI S AS AT 31 DECIMBER 2022 2022 Restrlcted 2021 Total Fund5 Unre5trlcted Total MONETARY ASSETS Bank and Cash Balances Cash in Bank National Savings deposlt Income Bond 3.498 54.657 58.155 61.545 3,000 3,000 3.000 6,498 54,657 61,155 64,545 LIABILITIES Independent Examiner's Fees 11,8701 NON-MONETARY ASSETS Held for Investment purpD58S Iln thejolnt names of theTrusteesl InvestmBnts.' Managed Funds Imark8tvalu81 Redmayne Bentley Managed Fund Redmayne Bentley Execution-only Fund IM&GI Columbia Threadneedle Managed Funds 568,816 259.279 115,186 568,816 259,279 115.186 658.853 278,031 132,617 943,281 943,281 l.(K9.501 NET ASSETS 949,779 54,657 1,004,436 1,132,176 Th8 accounts on page5 3 to 4 were approved bythe Trustees on 04 S8Ptamber2024 and slgned on their behalf by.. ner Tim Harp Chair teean ecret8ry
UNITE THE UNION BENEVOLENT FUND INDII PEI NDENT CI XAMINER'S IIEI'OIIT Yfi AR ENDED 31 DLI CEMBfi R 2022 In(Icpendent Examiner's Report lo the Trustees of Unite the Union Benevolent Fund I i'epoit to the trustees on my cxainination of the accounts of the Unite the Union Benevolent Fund (the Trust) for the year ended 31 Deccinbcr 2022. Responsibilities and basis of repoit As the charity trLlStees of the Ti'iist yoii are r¢sponsible foi. tlie prepai'&tion of the accounts in accordanee witl) Ilie reqiiiirinenls of the Chai'lties Acl 2011 ('the Act,). I r¢poit in IEspect of my ¢xainination of tlie Trust's accounts carried OLIt Linder section 145 of thc 201 l Act and in ¢ariying out Iny cxamination I havc followcd all the applicable Dii'ections given by tli¢ Charity Commission under sectioii 145(5)(b) of the Act. Independent examiner's statcmcnt I liave completed my examiiialion. I confim that no material matters have ¢om¢ to my attention in connection with the examination 8iving me ¢ause to believe that in any material respcct: accounting records were not k¢pt in respect of the Trust as required by section 130 of the Act. or 2. the accounts do not accord with those records. I have no concerns and have come acioss no other inatlei's in connection with the examination to which attention should be drawn in this report in order to enable & pi'oper undei'standing of the ac¢ounts to be r¢ached. Adi'ian Way FCA (a Director OQ Francis Clark LLP Chartered Accountftnts Towngate House 2-8 Parkstone Road Poole Dorset BH152PW Dale.. Sept¢mb¢r 2024