Report & FAnan¢lal Statements for the Year Ended 31 December 2024 for The TeDby Relief In Need d Pell&ioll6 Charlty Charity Number: 231233 Ashmole & Co Chart¢red Certificd Acci)untants Willtan]ston House 7 Goat Str¢¢l Haverfordwest
The Tenby Relief in Need and Pensions Charity Contents of the Financial Statements for the Year Ended 31st December 2024 Chati¢y Infonnation Trustees Report Statement of TnLSte¢s Responsibilities Report of the Jndependent Exaniner Statement of Flnanclal Activities Balance Sheet Notes to the Financial Statement5 8- 11
The Tenby Relief in Tr4eed and Pension$ Charity Charity Information for the Year ended 31st December 2024 REOISTERED CHARtTY 231233 TRUSTEES.. Mr C. Hughes Mjs S. Willia Mr C.R. Webb Mr R. Grigg Mr5 M.A. C]ay Mrs E.M. Craig Mrs E. Powling Mrs S. Lane Mr A.J. Davles Mr P. Smith Mr M. Ronowitz CHIEF ADMINISTRATOK. Mr C. Mathias ADMtNISTRATIVE OFFICE: Glo Lewis. Lewi5 & Co County Chambers Pentr¢ Road St. Clears SA33 4AA BANKERS: BaT¢lays Bank Tenby Pembrokeshire sotJClTORS: t•wis, L¢S & Co County Chambers P¢Dtr¢ Road SL Clears SA33 4AA thmole & Co William8ton House 7 Goat Street Haverfordwest Pembrokeshire SA61 IPX
.The Tenby Relief ID Need and Pensions Charity Report of the Trustees for the year ellded 31" December 2024 The trust¢es pr¢t their repKJrt with the financial statements of the charity for the year ended 31* De¢¢mber 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their a¢counts in ac¢ordan¢¢ with th¢ Finan¢ial Reporting Standard for Smaller Entities (the FRSSE) (effective l January 2015) and Charities Act 2011. STRUCTURE, GOVERPI.4NCE AND MANAGEMENT This is an unincorporated association governed by a Charity Cominission Scheme made on the 8th February 1978 following the amalgamation of 21 separate rtd5 based in Tenby, the oldest of which was created in 1581. The trustees con51St of six nominative trustees appointed by the town council of Tenby and nine o-optative tSte¢S. Nominative trustees are appointed to serve for a period of four y¢ars and COvOPtative for a period of five years. by resolutioii of the Trustees at special meetings. Trustees are selected based upon th¢ individuals personal or professional qualifications which are considered io be beneficial to the future direction of the charity. A Sub committee made up of six nominated trustees reviews each application made to the charity. The sub ¢ommitree will then report back. and make recommendations to the full committee of trustees. A full list of Trustees duTin8 the year is presented on page l. Trustees responsibilities Are listed on page 4. OBJECTIVES AND ACTIVITIES Its object is to r¢li¢v¢ p¢rsons resident in th¢ community of T¢nby who are in condition of n¢¢d. hardship or distress by payment of pensions or payment for items. s¢rvices or fa¢ilities calculated to reduce such rLttd. hardship or distr¢ss. ACHIEVEMEfqTh AND PERFORMANCE During the year the charity ha5 been able to continu¢ its provision of relief payments to pensioners in the Tenby community, to achIe its objective to reduce hardship or distress. FINANCIAL REVIKW AND RESERVES The results for the year and the financial position for the chArity are presented in the financia] statements on page six to seven. Income for the year decreased by £1,629 to £46,289. Relief payments decreased by £520 to £26,100. Stock market perforniancè.'duTing the year produced an unrealised gain on investments of £14,401. The overall result of this activity was to incre&8e the reserves available to the charity by £27,504.
The Tenby Rellef in Need and Pensiolls Charity Report of the Trngtees for the year ended 31" De¢¢mber 2024 In setting their reserves the Trustees.. (a) feel that there should be reserves to Cover one years pensions in the ev¢nt of any cal8Jnity, and Ib) are aware thai they have continuing responsibilities in regards to the maintenanc¢ and repair of their properties. The trustees need to maintsin a general reserve equivalcnt to one y¢ars pslo paymenls. tn addition, an Extraordinary Repair Fund is designated in order to meet the cost of unforeseen property repairs. The Pern)anenl Endowment represents the properties and investments from which income is generated for charitable putposes. if the properties are sold the charity must invest the prCedS as part of the Perniancnt Endowment. Investment Powers The governing document provides that all cash belonging to the clwity and rÈot needed for ijnJnediat¢ working purposes shall be invested in the name of the Official Custodian unless the Charity Commissioners direct oiherwise. GrAnt Makin Pollc ' and Grant Anal Applications for SUPPOrt are assessed on need atLd the age of th¢ applicant with a tendency to favour older applicants. Once a ¥rant has been agreed it would nornially continue for the life of the beneficiary. During the yearthe grdnt awards remained at £20 per month and are all made to individuals. Individuals also receive a £20 bonus at Clwislm&8. During the year grants wwe made to some 102 persons. Risk Remew The Trustees have a duty to identify the major risks to which the charity is exposed and to ensure appropriate controls arc in plac¢ to provide reasonable assurance against fraud and error. We have examined the major stralegic bu8ine55 and operational risks which the charity faces and confirni that systems have been established to enablc r¢gular worts to be produced so that the necessary steps can be taken to lessen those risks. For and on behalf of th¢ tTUStee8,' Date: Mr C. Hughc5 - Chairperson
The Tenby Relief in Need and Penslons Charity Report of the Trustees for tbe year ended 3111 December 202A STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees are responsible for preparing the RqK)rt of the Trustees and the fnmncial statements in accordance with applicablc law and United Kingdom Accounting Standanls (United Kingdom Generally Accepted Accounting Pra¢li¢¢). The law applicable to cbarities in England and Wales. the Charities Act 2011. Charity (Accounts and Reports) Regulations 2008 and the provisions of the twsl deed requires the trustees lo prepare financial ateMentS for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resou¢$ and application of r¢source including thc InMe and expendIre, of the ChltY for that period. sury)lus or deficit of the charity for that period. In prepaTing those financial statements. the ttustees are required to: (i) selwt suitable accounting policies and apply them CODSiStently' (ii) make judgements and estimates that are reasonablc and pnLd¢nl' (iii) prepatE the financial statements on the going concern basis unless it is inappropriate ¢0 presume that the charity will continue in business. observe the methods and principles in the Charity SORP. The tTUStees are responsible for keepin¥ proper aOUntIng records which disclose with reasonable accurncy at any time th¢ financial position of th¢ charity and to enable them to ensure that ihe finan¢ial ststemcnts comply with applicable Accounting Standards and the regulations made underthe Charities Ath 2011, the Charity (Accounts and Reports)Regulations 2008 and the provision of ihe trust deed. They are also responsible for saf¢guarding the assets of the charity anil hence for taking aSonable steps for the prevention and dctection of fraud and other itregulariti¢s. On behalf of the trustees Mr C. Hugh¢s - Chairy)erson Date:..............,..........................
Report of the IndependeDt Examiner to the Trustees of The Tenby Relief Ill Need and Pensions Charity We have examined, without carrying out an audit. the accounts for the year ended 31 Dccember 2024 set out on pages six to elevcll. These financial statements have been prepared under th¢ historical cost convention and accounting policies set out therein Respeetive responsibilitles of tbe charity's trustees and ex4miner As described on page two the charity's trustees are responsible for the preparation of financial statemenls in accordance with applicable law and United Kiogdom Accounting Standards. The ¢harity's trust¢¢s ¢onsiders that an audit is not required for this year {under Section 144(2) of the Charities Act 2011) and that an independent examination is needed. It is my Jrsponsibilily lo.. examine the accounts under section 145 of the Charities Act 2011. to follow the procedures laid down in the Genernl Directions given by the Charity Collllnissioners under seclion 145(5)(b) of the 2011 Act. and to state wheth¢r particularmatters have come lo my attention. B4$is of Independent examiners report My examination was carried out in accordance with the Genernl Directions given by the Clwity Commission. An examination includc5 a review of the accounting rec¢)rds kq)i by the charity and a comparlson of the a¢counts presclltsj with those records. It also includes ¢onsideration of any unusual items or disclosures in the accounls, and the seeking of explanations from you as the committee of manag¢menl concerning such matters. The proccdures undertaken do not provide all the evidence that would be required in an audit an4l consequentlyi we do not express an audit opinion on the view given by the accounts. Independent Exv4miners Statement In the course of my examination, no lltter has come to my attention. (t) which giv¢s me rcasonable ¢aus¢ to believe that, in any material respect. the tThstees have not mel the requirements to ensure that: proper aecowTrling records are kept in accordance with section 130 of the Charities Act 2011.and accounts are PTepared which agree wilh the accounting record and lo comply with the accountlDg requirements of thc Charities Act 2011 have not been ma" or to which, in our opinion, attention should be th?wn in order to enable a Proper understanding of the accounts to be reached. (li) Dated.............................. I.D. Badham F.C.C.A Ashtnole & Co. Chartered Ccrtified Accountants Williamston House 7 Goat Sireet Hav¢rfordwe5t P¢mbrokesbire SA61 IPX
THE TENBY RELIEF IN NEED AF4D PENSIONS CHARTTY STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31° Deeember 2024 Unrestrlcted Permanent Unrestricted Extraordinary Endowment Gener81 Fund Repair Fund Fund Totxl 2024 Total 2023 Incoming Resources Incoming resourcesfrom generaiedfyp Inves¢meni income Investment orne B8nk Interest Building Society Inter&4t lrtetsmlng resoureufvm ehdrlidble rtetlvlfl¢Y Rent RKeived 23.817 139 23.817 139 22.811 178 22,333 40,289 22.333 46289 24.929 47,918 Toiol I¢tnIng resottrc Resourtes E4bended Chuniable Aciivities Pensions, C&$h, Benefits Clerks Salary 26,100 4,200 486 426 151 815 26,100 4.200 486 426 151 815 26.620 4,200 457 641 Professional Fees Heat and Light 360 Sundry Expenses Rent 300 300 300 32,484 32,484 32,578 Gov¢rn#n¢¢ Co$t$ Ttwtee Expenses tndq)elldettt Extiminatio 351 351 702 702 351 351 702 702 Totol rth)uree$ apeptsltd Net kneon)tDgl(out%okn8) resources befDre revalu4tion$ 32,835 351 33,186 33,280 (13,454) {351) 13,103 14,638 Other Regld GaiD$ 4nd Loss¢J Unrealised Gain on Inveslm¢nts 3.719 10,682 14.401 33,727 Nei Movemeni ofFwids 3,719 10,682 14,401 33.727 Ntt In¢onny1{0utgoIng) resour¢es before revaluatloD5 13.454 10.331 48 27 504 65 Re£on¢11174tlwi of Funds Funds Brought Forward 77.237 74,219 787.079 938,535 890,170 Tothl Ft4nds CorriedFonvord 797 410 938 966.039 35
THE TEY4BY RELIEF IN NEED AND PENSIONS CHARITY BAIAnce Sheet as at 31 December 2024 2024 2023 Note FIXED ASSETS Tangible Fix¢d Assets Investments 200,000 681.800 881,800 200,000 667,399 867,399 CURRENT ASSETS Accn]ed Income Abbey National Building Society BankI)¢posit Account Cash at Bank. Cuttent Account 52.359 31,275 5,253 28,542 31,275 18,648 50 93,887 CURRENT LIABILITIES Credilors and Accrnals 7,379 7.379 ET CURRELYT ASSETS 84.239 71.136 966,039 938,535 REPRESENTED BY: Unrestricted Generdl Fund Unrestrlced Extraordinary Repaxr Fund Pemwient Endowment Fund 90,691 77.938 797,410 77237 74,219 787,079 966.039 938,535 The fancial statemcnt5 on pages six to eleven were approved by the trustees on the ....................... and sign¢d on its behalf by.. - 2025 Mr C. Hughes- Chairpuson
The Tenby Rellef in Need and Penslons Charlty Notes to the Financial Statements for the Year ended 31M December 2024 I. ACCOUNTING POLICIES Basis of accounting The financial stalem¢nts of the charity have been prepared in accordance with the Charities SORP (FRSSE) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chaTilies prqTraring their aOunt8 in accordance wilh the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective l January 2015)., the Financial R¢portin8 Standard for Smallerenlities (¢ffectiv¢ January 2015) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at marketvalue, asmodified by the revaluation of certain assets. Investments Investments are included at the market value quoted as near as possible to thc year ¢nd date, as advised by the asset managers acting on bellalf of ihe TTUStees. The valuation adjustment required each year is Ireated as an unrealised gaiThl(loss) in the statement of financial actifvities. Gains or loss¢s are only treated as realised uw)n the di8posal of an investment. Re5tri¢t¢d, unrestrirted and dignated ndS The accounts distinguish bdween unrestricted reserves (The General Fund), designated fvnds (The Extrdordinary R¢pair Fund). and pwmanent endowment funds. Unrestricted funds are those where ih¢re ar¢ DO ¢Xt¢rnally imwsed restrictions on use, including those available to the charity for appropriation to reserves for internally designated pUoSeS (designated funds). Th¢ pernlanent endowment rrprcsents ihc propcrtics from whÉch inc¢)ttLe is generated for charitable purposes, if these properties are sold the charity must invest the procecds as part of the p¢rnianent endowment. IDcome Income represents the amount derived from the Charity's ordinary activilies. Income is accounted foron an a¢¢ruals basis except fordon8tions and investment incomc which are accounted for when received. No in¢ome is stated net of any asso¢iated ¢xpenditur¢. Recognitlon of Liabillile$ and Alloeatlon of Costs Liabilities are recognised when thcr¢ is a legal orconstwctiv¢ obligation committing ihe¢harity to pay out resources. The majority of th¢ costs are directly attributable to the objectives of the charity and are allocated accordingly. overnanee costs include eosls of the preparalion and examination of sthtutory accounts and the cost of any legal advice to trustees on governanc¢ OT constitional matters.
The Tenby Relief ID Need and Pensions Charlty Notes to the Financlal Statements for the Year ended 31st December 2024 2. NET RESOURCES AIUSING Net in¢oming resources are ststcd after charging . 21)24 2023 Accountancy Independent Examiner's fee 402 702 402 702 1.104 3. TRUSTEES REMUNERATION None of the trustees r¢ceived rcmunerdtion or CXpSeS from the ¢haTity during the year (2023 nil). There has been no expendiMre on trnstee indemjjity insurance. 4. SUPPORT COSTS Support costs comprise of the following.. 2024 2023 Clerks Salary 4200 4.200 S. TAXATION The Tenby Relief in Need and PeJ)sions Chlty is a register¢d Charity and accordingly is exempt from laxatioll on its in¢om¢ and gains where they are applied for charitable puoSes. 6. TAIYGIBLE FIXED ASSETS The following land and buildings a held in the name of the OLTicial Custodtan for Charities in trust to be used in the pursuance of the ¢haritsble aclivitics of the It,. Land and dwelling at 12 Deer Park, T¢llby IAnd and dwelling al 14 Deer Pa, Tenby Land and dwelling ai 5 South Parade, Tenby Land al Lower Cwm Park and Chapel Hill. Tenby 2024 2023 Freehold Property 200,000 200,(KM) The Freehold Properties have been valued at open market value by the tTUSt¢es. after taking account of the tenanted nature of the properties.
The Tenby Relief in Need and Pen$lon$ Charity Notes to the Finan¢ial Statements for the Year ended 31" December 2024 7. INVESTMENTS M74rket Value Market Value NoMfin Valu¢ CAPITAL ACCOUNT 1.1.24 31.12.24 31.12.24 31.12.23 46,953.51X) 46.953.500 65,035.84 65.035.8490 BLK UK Bond Fund BLK UK Equity Fund 66,570 486,992 69.652 473.765 JNCOME ACCOUNT 10,146.3310 10.146.3310 5,915.3130 5.915.3130 BLK UK Bond Fund BLK UK Equity Fund 14.385 15.051 43.091 601.559 612.241 EXTRAORDINARY REPAIR FUND 152.8240 152.8240 2,299.4640 2.299.4640 BLK UK Bond Fund BLK UK Equity Fund 7,045 7.072 58,768 65,840 69,559 681800 8. CREDrroRS 2024 2023 Pensions held OD account C1k'S salary Accountancy & Indq)endent ExamiThcTS fee 120 8,4(X) 1,128 4,2(KJ 3,179 io
The Tenby Rellef in Need and Pensions Charlty Notes to the Finanelal Staten)ents for the Yeydr ended 31*1 Deeember 2024 9. NET MOVEMENT IN FUNDS Unrestricted Unrestricted Pertn4nent General Extraordinary EndowTrent Fund Repair Fund Fnd Tolal At 1st January 2024 77237 74,219 787.079 938,535 Net movement of re50uw¢s in year 13.454 3,719 10,331 27JIM At 31st D¢c¢mber 2024 77,938 797,410 966,039 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unre5tritted Unrestricted Permanent General Extraordinary Elldowment Fund Repair Fund Fund Totsl Fixed Assets Cash al Bank & other income CredIr8 6.101 93.887 97 90,691 77,938 797,761 881.8(M) 93,887 9.648 966 039 351 77938 797.410 Pemanent Endowment Fund The fvnd rcpresents the original capital of the charity at net book value. All incom¢ generated from the endowment is ¢d]led to the General Fund which must be ulilised in accordance with the Charitable objective.