YORKSHIRE MINERS. WELFARE CONVALESCENT HOMES STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 REGISTERED CHARITY NUMBER 230638 ORKSHIRE MINERS, WELFARE CONVALESCENT INDEX TO THE FINANC EMENTS PA Legal and Adminislratwe Details Report ol the Independent Examiner Statement of Financ*al Activities Balance Sheet Notes to the Financial Statements Report of the Trustèes 10-14 ORKSHIRE MINERS, WELF RE CONVALESCENT HOMES LEGAL AND ADMINISTRATIVE DETAI Charity Number 230638 Governing Instrument Trust Deed dated 25 July 21]00 Trustees D Brewer (Resigned 2611r20241 Reverend Canon l Gaskell Reverend Father D Peruval D p￿kering I Carpenter D CoLtpland IResigned 2611r20231 M Whittaker D Longley (Appointed 24n12023) M Wright (Appointed 2417r20231 Dene Coupland (Appointed 2417120231 Trust ObjectNes The provision olconvalèscènee facilities in one or mor8 convalescent homes lor the benefit of persons who are or have been employed in the area ol the Charity either in or allied lo Ihe Coal industry and lo their spouses and dependants. Thè provision of convalescence facilile5 Shall indude tho care and maintenance of the beneficiaries in convalescent homes whether or not such homes are owned or leased by the charily. Secretary R O'Toole The Old Redory Rectory Drive Whislon ROTHERHAM S60 4JG Bankers CAF Bank Ltd 25 ￿'n9$ Hill Avenue Wesl Malling Kent ME19 4JQ Independent Examiner J Wallage FCA CISWO ITradingl Ltd The Old Re¢lory Rectory Drive Whislon ROTHERHAM S60 4JG ITiveslment Advisors Ralhbones Earl Grey House 75- 85 Grey Street Newcastle Upon Tyn• NE18EF INDEPENDENT EXAMIN 'S REPORT T TH RKSHIRE MINERS WELFARE CONVALE TRUSTEES OF CENT HOMES FOR THE Y ENDED 31 DEC ER 2023 I report lo the Iruslees on my examination of the accounts of the above named charity Iregislered number 230638} for the period ended 310ecember 2023, sel out on pages 3 10 9. Res nsibili ies and basls of As the charity trustees you are responsible for th• proparatK)n of the a￿Ount$ in accordance with th8 requiremènts of the Charities Act 2011 (the Acll. I report in re¥)ecl of my examination of the Trustees, accounts carried out under section 14S of the 2011 Act and In Carrying OLrt my examinats'on I have followed all applicable Directons given by the Charity Comm(ssion under sectton 14515llbl of the 2011 Act. Ind t Examlners ment l ttavé completed my &xaminatson. I confirm that nts material rnatt8rs have come lo my attention in connection with Ihe examInats"￿ giving me causo lo believe that in any material respect,. 111 aco)unting records We￿ not kept in respect of the Charity as requirèd by section 130 of the Ac(. or 121 thè accounts do not accord with those records,. or 131 the accounts do not comply with the applicable requirements conc6rning the form and conlènl of accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that thé ac¢ounts give a 'lrue and fair view which is not a matter considered 8$ part of an independent examination. I have no concerns and have come a¢ros5 no olhef matters in connection Mth the exarnination lo which attention should be drawn in this report in order lo enable a proper undorstanding Of the accounts to be rea¢hod. J Wallaga FCA Chartorèd Ac¢ountant 12 March 2024 Date On behalf of CISWO (Trading) Ltd The Old R8¢tory Rectory Drive Whiston Rotherham S60 4JG YORKSHIRE MINERS WELFARE CONVALESCENT HOMES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unre8trlcted Endowment Funds Funds Note 2023 2022 Income and Endowments Voluntary Income Donations Investment Incorno Bank - Short Term Deposit Interest Investment Income Incomln9 Resourees from Charitablo A¢tivltie8 Lynwood Convalescent Home YMWCH Trading Ltd Gift Aid Other Income Local Govemment Business Inleruplion Grant Total In¢om• 1.415 1.415 2.611 403 15,826 403 24.358 94 26,876 8,532 173,342 16,413 173,342 16,413 162,933 16.324 2.667 211 305 207,399 8.532 215,931 Expènditure Charitablè Expendlture Lynwood Convalescent Home Adminislralion Expenses Goveman¢e Costs Governance Investment Managers Fees Total Expendlture 403,124 86,648 403,124 86,648 323,317 75.046 3,278 6,444 499.494 3,278 6,444 499,494 3.043 7,558 408,964 Not (Expenditure) I Incomo bgfor• Inve8tment$ 1292,0951 8,532 1283,563) 1197,659} Net g#in$l{losses) on Investments Net In¢omollExpendituro1 Transfeis between funds 11,614 12061 8.326 18,5321 11.408 194,2021 1272,1551 1291,8611 1280.4811 8,532 Not Movoment in Funds 1271,9491 12061 1272.1551 1291,8611 Total Funds 8roughl Forward as al l January 2023 Total Funds Carried Fo￿ard as al 31 December 2023 1.059,433 787,484 392,412 392,206 1,451,845 1, 179.690 1.743,706 1.451,845 YORKSHIRE MINERS, WELFARE CONVALESCENT HOME BALANCE SHEET AS AT 31ST DECEMB 23 Note 2023 Fixed assèts Tangible Fixed Assets Inveslrnenls 10 526.670 612,480 537,418 894,052 Totsl fixed ass4ts 1,139,150 1,431.470 Curr•nt as Stock Debtors and prepayments Cash at Bank and in hand 12 13 14 2,184 23.555 47,807 1.401 22,203 21,659 Totsl ¢urrent ass8ts 73,546 45,263 Creditors amounts falling due wlhin one year Net current ass¢ts 1S {33.0061 124,888} 40.540 20,375 N•t as$ets 1.179,690 1,451,845 Ftsnds Unrestricted Funds Perrnanent Endowment Total funds 787,484 392,206 1.179.690 1,059,433 392,412 1451,845 The Financial Statem&nls were approved al a meeting ol TrLtslègs on 12 March 2024 and signed ir behalf by.. Slgn¢d (Trustee) Print Nam& ITTUSteel RKSHIRE MINERS, WELFARE C NVALESCENT HOM NOTE TO THE ACCOUN R THE YEA ED 31ST DECEMBER 2023 Note 1 - Accountin Poli¢￿$ al Basis of proparatlon and assessment of going concfrm The financial 51alements have been prepared under the historical cost ¢onvenlion unless Othe￿Se slated in the relevant notes lo these aceounls. The financial slalemenls have been prepared in accxJrdan¢e with the Statement of Recommended Practice.. Accounting and Reporting by Charities IFRS1021 and the Finanaal Reporting Standard IFRS1021 and the Charities Act 2011. The Iruslees consider that there are no material Un￿rtaInlieS about the Trust's ability lo Continue as a going Concern. The trustees have a reasonable expectation that the Tru51 has adequate Serves to continue in operational exislen¢e for the lores88able future. Accordingly the trustees conlintje lo adopt the going con¢em basis in tha preparation ol its accounts. bl Income Rtr¢ognition Inc¢me is recognised once the Charity has enlillemenl to the income, il is probable that the income will be roceived and the amount ol income receivable Can be measured ￿lIablY. Donations (including gift aid r¥dairnable Ihereonl ar& reeognised when they are received. Investrn8nl income is recognisecl when ￿ceivable Income arSsing from the pemianènl endowment is unrèsth'cted. ¢1 Expendlturè r•cognition Liabilities are recognised as expenditure as soon a5 there is a legal Of oofislructive obligation committing the charrty lo that expenditure. il is probable that settlement ￿11 be requirod and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. dl Investments Investments are a lomi ol basic financial instrument and are initially recognised al their transaction value and subsequently mgasured at their lair value as al the balance Sheet dale using tha closing quoted markèt pri￿ The 51atemenl of finanaal activities inclisdes the net gains and losse5 arising on revaluations and disposals throughout the year. •) Tanylble Fixed Assets and Depreclation The property ha$ been capitalised and in¢luded al Ils historical ¢o$l. Depreciation 1$ provided on a reducing balance basis lo write off the cost over ils useful economic life. The property is depreciated al 20h per annum. Equipmènt, fumiture and fittings are deall with on a renewa15 basis and ¢h3rged to the statement of financial activities as incuTred. Note 2 . Taxatlo The Trust is a registered charity and a￿OrdinglY is exempt from taxation on ils income and gains where they are applied lor chaiilable purposes. 20 2022 No 3- Donations Donation - Beneficiaries Donation - Benefiaary Fundraising 915 500 1.936 675 YORKSHIRE MINERS. WELFA ONVALE ENT HOME ESTOT ACCOUNT - 31ST DECEMBER 2023 2023 2022 Notè 4- Investment in¢omo Income from unrestricted funds Incom& from endowment funds 15,828 8,532 19.438 7,238 Note5-L Home Income and Ex Convalescent break booking fees & balances nw iture 172,015 181.710 s.. cost of sal Opening food stock Add.. Food ￿>813 875 45,323 405 40.587 45,998 11.3311 Less.. Closln9 food stock 40,992 (6751 144,6671 140.3171 Gros$ Profit 127,348 121.393 Other income Board and Lodgings 1,327 1,223 1,327 1,223 Carried forv4ard 128,675 122,616 YORKSHIRE MINERS. WELFARE CONVALESCENT HOM OTES TO THE ACC UNTS- 31ST DECEMBER 2023 nwood Hom In me and Ex onditu ontinued 2023 2022 Brought lornard Le55.' Expenses Dome$tic and Estsblishment Property repaiis Furniture Repairs Purchase and maintenance of equEpmenl Bedding & household linen Lights'ng and healing Printing, postage and stationery Laundry Cleaning linduding opening & dosing stock) Unifomis Telephone Other expenses Salaries and w¥ges Rale5. water and insurance Garden masnlenance Travel expenses Entertainment 8eneficiaries coach hire and taxis Tinsel & Turkey Expenses Depreciation Sundry expenses PrO1￿t costs Property project wnter 2022123 128.875 122.616 2,845 4.855 29 13.173 7,925 415 30.924 928 7,532 5.474 182 997 15.123 911 6.281 4,192 197 1,102 181,878 13.935 38 358 20,663 42,000 355 10,748 139,052 15,432 12 252 20,869 45.300 262 10,968 270 50,976 4.720 1358,4571 229,783 1283.0(X)I 180,384 Net loss for Lynwood Home Note 6 - YMWCH Tradln Ltd YMWCH Tr8ding Ltd la company limited by guaranleel, whosè directors are also Irust88s of the charity, transfer any net profil lo the charity undèr gift aid at the end of each finanryal year. The net profit gift aided lo the charity in 2023 £16,41312022 £18,324) 20 2022 Qts 7 - Direct chari Grant lo CISWO Salaries Postago Prints"ng & Stationery Accommodation Sundry Exponses Travelling Bank Charges bl administra￿On 55.200 14,206 4.310 1,451 4,345 6,303 687 53,580 12.710 1,074 250 4,239 2,947 137 109 75.046 RKSHIRE MINE ELFARE C NVALESCENT HOMES TES TO THE ACC NTS FOR T EAR ENDED 31ST DECEMBER 2023 2022 N te 8- Govern nce ¢osts Accountancy Fees Trustees MeetingsExpensesnndemnily Ins 1,784 1.494 3,278 1,740 1,303 3.043 N te 9 . Trusteè eosts and ex aid No Trustee ￿Ceived remuneration in 2023 or 2022. There were four lull Trustee meetings during the year al a total cost of £47212022 .' £2811 The annual cost of the Tr(¢st's indemnity policy was £1.02212022 .' E1,0221. enses 2023 Note 10 - Flxgd assots Lynwood Convalescent Home- Cost brought fowr(E al 1st January Additions in year Disposals in y&ar Cost ¢arTied fO￿ard at 31st DoC•m￿r 750,(JJO 750,IX)O 750,OLX) 750,000 Depreciation brought fo*ward at 1st January Charge for Period Depreciation ¢8rried forward a131$1 Oecember 212.582 10.748 223,330 201,614 10,968 212 582 Not Book Value 31st D9¢0mber 528,$70 537,418 Noto 1 - Investrnènts Market value as al 1 January Additions al cost Disposal proceed$ Nel investment Ilo$sl I gain 894,052 80,785 1373.7651 11,408 1,155.084 30,488 1197.3181 194,2021 612,480 894.052 Nots12-S Food Cleaning 1,331 853 675 726 2.184 1,401 Note 13 - Debtorg YMWCH Trading Ltd Prepayments A¢¢ued Incom8 and other debtors 19,461 3,153 17,9$2 2,841 1.400 22.203 23.555 YORKSHIRE S. WELFARE CONVALESCENT H MES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED ECEA18ER 2023 2022 8 14- Cash atbank and in h nd CAF Cash Gold Account CAF Cash Current Account CAF Cash Petty Cash Account Ralhbones- Capital Cash Account Admin Petty Cash Lynwood Petty Cash Activity Float 1S,173 4.795 957 26,047 287 6.798 3,460 10,767 221 313 loo 100 47,807 21,659 Note I - Creditors Amo Trade Creditors A¢¢ruals and other creditors convalescen￿ Contribullons re¢eiv$d in advance nts fallin duo wlthln one oar 14,771 8,925 9,310 33.oc 16,580 5,098 3,210 24,888 Notg 18- Funds The Unieslricled Funds ¢omprise the inveslmenls.tangible fixed assets and ¢urrent assets. The assets held are valued al market value. The Unrestricted Fund Is not reslricled in its application and income can be used for the general purposes of the Gharity. Nots17- al s of assets and liabilities betwèan fund5 Pernianèn Unrgstricted Endow t 2023 2022 Fixed Assèts Tangible Fixed Assets Investments 526,670 236,273 526,670 612,480 537,418 894,052 376,207 Current a$5ets Slo¢k Debtors Cash at bank 2,184 23,555 31,808 2,184 23,555 47,807 1,401 22,203 21,659 15,999 Current Liabil1￿0$ Creditors 133,0061 787,484 133,0061 1,179,690 (24,8881 1,451,845 392,206 $1$ of assats and11 Illfje$ between f nds At 31 Janua 2023 V08tment Galns At 310ecgm 202 In ondltu Unrestricted Funds Restri¢led Funds 1.059.433 392,412 1451,8dS 207,399 8,532 21S 931 1499,4941 11,614 12061 11.408 8,532 18,5321 787,484 392.206 1.179690 499.494 YORKSHIRE MINERS WELFARE CONVALESCENT HOMES REPORT OF THE TRUSTEES FOR THE YEAR ENDE 31 DECEMBER 20 The Trusteos present their report along with the financial slalemenls of the chartty for the year endod 31 December 2023. The financial statements have been prepared in accordance with the accounting policies sel out on page 5 and Comp￿ with the charity's Iwsl deed and applicable law. onstltution and Ob e¢t$ and Activities for the ublic benef- The Yorkshire Miners, Welfare Convalescent Home Fund was r&eslablishod by Charity Commission Scheme dated 25 July 2QOO, as subsequentty amendod by scheme dated 16 Deeember 2002 and deeds dated 9 September 2008, 14 June 2011 and 14 June 2016 respectively and is a registered charity nL¢mber 230638. The objects of the charity are lo provide convalescent facilities lo persons who are or hav been employed in the coal industry, or allied actwilies, within Yorkshire and their wives, husbands, and dependanl relatives and also widows. widower5 and necessilous relatives of deceased persons Iqualifying as abovol. The Charity currenlty operates a convalescent home 'Lynwood' in Scarborough. The Iruslees have referred lo the guidance given by the Charity Commission on public beneftt when reviewing the charty's aims and obieclives and details ol the activitie5 that have taken place during the year can be found lal¢r in this report. The Trustees who have served during the year are detailed below'.- D Brewer (Resigned 2611120241 I Carpenter Reverend Canon l Gaskell Reverend Father D Percival D Pickering D Coupland (Resigned 2611120231 M Whittaker D Longley (Appointed 2417120231 M Wrwhl IAppointed 24Q120231 D Coupland (Appointed 2417120231 The Secretary to the Trustees. responsible for the day lo day administration of the ¢harily is Mr Richard O'Toole, CISWO, The Old Rectory, Rectory Drive, Whiston, Rolherham. S60 4JG. Pollc on Admissions. Accommodation facilities are limited and admission is based on need relating lo medi¢al conditions and within the following guKlelinès, which were updatesj in September 2014. Eligibilty for admission lo the Convalescent Home is based on the number of years, seivi¢e within the Yorkshire CoaFfiold. Ex-employees are enlilled lo one admission for every completed 5 years of serv1CO. After using their enlrtlemenl, those SLtffering from a mining-relaled illness or accident may apply lo have their enlillemenl èxtended and should give full details for the trustees, consideration. Other beneficiaries who have used their ènlillement may also appty for individual assessment. This applies lo anyone who does not qualrfy undef the above criteria. Admission will be basod on medi¢al need and applicants therefoie give full details of why they wish lo be considered. 10 P8rtner$ of fomer employees may allend with their husbandlwife," sueh attendance means the deduction of one enlitlemenl. Widowslwidowers ol ex-employees may receive two convathcenl admission9 only. ntflbutlon made Volunteers. Volunteers are encouraged lo assist with the social care provided at the LynwcK)d Home. Review of th& Ygarfs Activities. Tho home relumed to full capacty in 2023 after the COVID pandemic. The Trustees continue lo monitor government guidelines and are establishing operating plans and risk assessments lo provide a safe environment now that the home has reopened. The corivalescenl facility provhled breaks lor 1383 Beneficiaries during 2023. The o¢¢upancy r8te remained high al 90.1èA of the available places. Administrative efficiency ensu￿$ that unavoidable last-minute ¢ancellalions are filled whenever possible. Financial Revlew The charity had nel outgoing resources for the year of £272,15512022.' outgoing resources of £291,861> The main factor conlribuling lo the increased perfomance was the gain on the inveslmgnl portfolios of £11,408 in 2023 compared with a105s of £94,202 in 2022. If we ex¢lude the above investments factor Ihe Charity made a year on year operational los$ in 2023 01 £283.563 Compared swlh a loss of £197,659 in 2022. Income from beneficiaries allending the home increased by £10.409 compared lo 2022. The running costs of the home increased by £79.8L17 Irom 2022. The Charity has two funds". Unreslricled Fund This is the CO￿ operational fund of the charity through which all its operational work is channelled. The unreslricled fund had nel outgoing resources during the year of £271,94912022.' £251,9281 after a transfer of income of £8.53212022.. £7,238) from tha endowment fund and investment gains of £11,61412022'. losses of £54,270). At 31 De¢ember 2023, the valu¢ ol the un(eslricled fund was £787,48412022'. £1.059,433} Pemianenl Endowment Fund b) Income arising from this fund may al the absolute discretion of the Trustees be Iranslefred annually lo the Unreslricled Fund. During the year the income of Ihg fund was transferred lo the Unreslricled Fund. No part of the capital of the Permanent Endowment Fund may be spent. Al 31 Decemb8r 2023 the value of the Pemanenl Endowment Fund was £3g2,20612022". £392,412}. The totsl net assets of the charrty as a131 December 2023 were £1,179,690 of this sum £612,480 was held in inveslmenlg managed by Ralhbones, £526.670 in property Ilhe nel value of the convalescent home in Scarboro*Jghl and £40,540 in net current assets (principally cash deposits). The Investments of the Charity a￿ managed by Ralhbones and are regularly reviewed by the Trustees. Joint meetings have been held lo review the perforniance of the Investment Managers and to review the balance of the portfolio befv￿￿n gills. equities and proporty. The Slalement of Investment Principles is given below. Investm nt Pollc The invaslmenls of the charity are managed by Ralhbones. Funds are managed by them on a discretionary basis, the management agreement wrth them provides for'maximising lolal return through both the generation of income and caprtal growth over time by adopting an investment strategy of moderate risk.. The Trustees monitor the performance of the investment man8ger against staled Performance Objedive. Performance reports and valuations will be obtained quarterly. Attendance by the manager al client meetings is by client requ&sl. The Tiuslees do not impoge any restr¢clic>ns whether in respect of ethical, social or environmental matters, or voty'ng pOI￿y, or otherwise, believing that this course is in the best interests of the objectives of the Funds. The primary objective of the Trustees is lo seek to maximise lolal return to provitJ8 funds for distribution under the Charity's current policies. The lolal return of the portfolio for 2023 was +5. 18%12022'. -5.860hl against the legacy benchmark of +10.13Qk12022. 48.360/01. The legacy benehmark is included for referenee onty because the portfolio has undergone a de-risking programme dtjring the year following a review of the Charity's investment lime horizon. A new Investment Policy 15 in place for the 2024 financial year which includes an adjusted benchmark which more closely reflects the portfolio asset allocation. Sources of Fundin Modest amounts are received unde¥ gfft aid from the YMWCH Trading Ltd and indivKluals. The main source of funding is investment income and capital growth from reserves. 10 Ex enditure to Su Ke Ob'ectives. The Trustees have a policy of ensuring that the facilrties provided are adequate to meet the benef￿larles. needs. 11 Reserves Polic The free resetves of the charity (excluding fixed asselsl comprised tho Unreslflcted Fund. The Trustees are conseious that the annual cost of providing convalescence facilities is greater than the income generated by the fund and the free reserves of the charty are ulilised lo cover the annual shortfall. In addition, the Tnjslees consider that there will be a significant beneficiary population for many years hence and therefore they wish to ensure that the lacilrties remain available for as long as possible. The Trustees are of the opinion that the current free reserves may only be sufficient lo enable them lo relain the facility until 2026. The Twstees continue lo work towards a long-lerm plan to exlend this dale. 12 k Mana ement. The major risks lo whth the charity is exposed are'.- Investment Return - maintaining adequate returns from the investment Portfolio lo piovide income. Building maintaining the building to an adequate standard whilst remaining affordable. The Iruslees engage the services of Ralhbones lo assist in managing of ils investment portfolio, and lake advice from property consullanls concerning works required on the building. 12 The trustees have prepared documented procedures lo manage these and other risk5. The Iruslees and the charity's glaff are expected lo follow these procedures which are regularly review¢d lo ensur& that they remain comprehensive and appropriate. Trustees, Re$ nsibilities in rglatlon to the Fin 13 ¢lal Statements. Law applicable lo charities in England and Wales required the Trustees lo prepare financial slalemenls for each financial year wh￿h give a true and fair view of the charity and of the incoming resources and application of resources of the charity lor that period. In preparing those financial stalemenls. the IIuslee5 are required lo.. sebct suitable accounting policies and then apply them consi$lenlly-, observe the methods and principles in the Charit￿8 SORP., make judggmenls and estimates that are reasonable and prudent., stsle whether aPpI￿able accotjnling standards have been followed subject lo any material departures disclosed and explained in the financial slalemenls., Prepare the financial statements gn 117e going concern basis unless il is inappropriate to presume th81 the charity will continue in business. The Trustees are responsible for keeping accounting records which disclose with reasonable a¢curacy al any time the financial position of the charity and enable thern lo ensure that the financial statements Cornply with the Charities Act 2011. They are also responsible for safeguarding the assels ol the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 12 March 2024 and signed on their behalf by.. Signature Signature.. Print Name. inl Nam&. Trustee Trustee 13