Chwity regi5tratK)n number 244053 ST THOMAS'S DOLE CHARITY TRUSTEES. REPORT AND UNAUDrtED FINANCLAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
ST THOMAS'S DOLE CHARITY LEGAL AND ADMINsfRATIVE INFORMATION TRUSTEES Reverend A Richardson Councillor J Hunt Reverend R Walker-Hill Councillor W Rees Councillor A Haywood Reverend Dr F Gg50n CLERK TO ThE TRusfEES MsAJWebb CHARITY NUMBER 244053 PRINCIPAL ADDRESS Diocesan Officè The ChLtrch of England 190 Corporation Street Birmin9ham 84 6QD INDEPENDENT EXAMINER James Cruse ACA. FCCA JW Hink5 LLP Chartered Accountsnts 19 Highfield Road Edgbaston Birmin9ham B153BH INVESTMENT ADVISORS M & G Securities Limited 10 Fenchurch Avenue London EC3M SAG
ST THOMAS'S DOLE CHARTr CONTEKrs Trustees. report Independent examiner¥ report Ststement of financial activities Balance sheet Notes to the financial statements 7-13
sr THOMAS'S DOLE CHARrrY TRu¥fEES REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 September 2024. The financial staternents have been prepared in accordance with the accounting policie5 set out in note 1 to the financial ststement5 and comply with the charity'5 goveming document. the Charities Act 2011 and -Accounting and Reporting by CharitRs.' Statement of Recommended Practice applicable to charib'es preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland (FRS 102). OBJECTIVES AND AcfNITIES Objecthies and aims Pur oses an The eharity's object5 and principal activities are to apply the income of the charity to relieve either generally or individually person5 resident in the Ancient ParLsh of Aston and the Ecclesiastical Parish of St Cuthbert, Castle Vale, who a in conditions of need. hardship or distres5. urin ivers our ai We review our aim5. objectives and activities each year. Thi5 review looks at what we achieved and the outcomes of our work in the previous 12 month5. The review looks at the succèss of each key activity and the benefits they have brought to those groups of people we are set up to help. The review a150 helps us to ensure that our aims. objectives and activities remain focused on our ststed purposes. We have referred to the 9uidance contsined in the Charity Commission's 9eneral guidance on public benèfit when reviewing our aims and objectives and in planning our futu activitie5. In particular. the trustees conslder how planned activities will contribute to the aims and objective5 they have set. sofour The focus of the charity's work remains the relsef either generally or individually of persons resident in the Ancient Parish of Aston and thè Ecclesiartical Parish of St Cuthbert, Castle Valè. who are in condition5 of need, hardship or distress. To achieve these objective5 the charty continue5 to make grants of money available or provides or pays for items, services or facilities either inside or outside of the Ancient Parish of Aston and the Ecclesiastical Parish of St Cuthbert, Castle Vale, which are designed to reduce the need. hardship or distress of such person5. The trustees have paid due gard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Grant making polcy The charity's constitution restricts its grant makin9 to lIeVe either generally or individually persons resident in the area of the Ancient Parish of Aston and the Ecclesiastical Parish of St Cuthbert. Castle Vale. who are in conditions of need. hardship or distress. Although many of the grants rnade by the trustees are repeatsd. the trustees do not as a matter of policy feel obli9ed to repeat any particular grant. In corsiderin9 all applications the trustees Wish to be assured that the grant will be spent or the benefit provided in the aa of benefrt.
ST THOMAS'S DOLE CHARITY TRUEE5, REPORT <COlfflNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACHIEVEMEKfs AND PERFORMANCE Charktable activit5 During the year. the charity's investments produced a satisfactory level of incorne enabling the charty to award grants in accordance with its objects and its grant making policy. A total of 20 (2023= 24) grants were made in the year to a variety of applicants from within the Ancient Parish of Aston and the Ecclesiastical Parish of St Cijthbert. Castle Vale. The Trustees maintsined their commr¢ment to funding small. locally based organisations. and to spending annual income rather than accumulating it. In November 2023 all 19 grants requested were made. Unfortunatsty. June 20245 meetin9 saw a Sharp decrease in applications to four. There was a variety of asOnS for this. including some of the usual applicants to that meetin9 winding up, being invited to apply in November 2024. or being involved in the general election. The Trustees. expectation at the June 2024 meeting wa5 that the volume of applications would be heavier than usual in November 2024. The income not applied in June 2024 was placed in a new CAF Bank deposit account in anticipation of this. The usual wide range of or9anisOtions was supported. Children and young people, cafes and clubs aimed at reducing isolation amon9St mothers. vulnerable and older people, and organi5ation5 alleviating food poverty, in the charity's very deprived area of operation, continued to be at the heart of the Trustees. grant making. with a Strong expectstion that this will continue. Durin9 the period Ven Jenny Tomlison res19ned in Juty 2024. Revd Phelim O'Hore having become permanent Archdeacon of Aston and thus ex-officio Trustee in her stead. The Trustees were sad to see Mr Eric Knibb. the longest servin9 Trustee. step down as a Co-optative Trustee. Eric had been a Trustee (and later Deputy Chair) since 2008. His long experience. extensive knowledge of his locality and unwavering commitment to the aims of St Thomas's Dole Charity meant that he would be much missed. FINANCIAL REVIEW Reserves pollcy It h35 been the policy of the trustses in recent years to reduce unrestricted reserves to a minimum and to maintain them at this level. Financlal review The Statement of Financial Activitie5 for the year ended 30 September 2024 Shows incoming resources of £70,301 12023.. £68.6691 and resources expended of £5 5.244 (2023.. £52.029). generating net Incoming resources of £15.057 12023.. net incoming $our(es.. £16,640). prior to investment gains and losses. Despite the difficult economic conditions which continue to affect the UK economy during the year. the charity's investrnent portfolio has produced a Satisfactory level of investment income amunting to £70,301 (2023.. £68.669). The trustees have again decided tg distribute as much of the charity's funds by way of grants 45 13 POJ3ible. As a result. grants paid by the charty during the year ended 30 September 2024 amounted to £48.955 (2023: £45.499). The charity's investment portfolio has seen a increase in its valuation during the year ended 30 September 2024 by £71.210 (2023= increase of £48,007). This has contributed towards an overall increase in the charity's assets from £1.210.335 as at 30 September 2023 to £1,296.602 as at 30 September 2024. Investsment polKy and objectives There are no restrictions on the trustee5' power to invest. The trustees seek to maintain a consistent investrnent strategy based on their view of the medium-term economic situation and their desire to Secu the capitsl value of the investment portfolio whilst maintaining the level of the charity's income in real terrn5. The trustees receive advice from their investrnent manager who produces wular reports for consideration by the trustees. Risk managemert The trustees have a duty to identify and review the risks to which the charity ts exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees discuss both financial and external risks that the charity 15 exposed to twice per year during normal trustee meetings.
ST THOMAS'S DOLE CHARITY TRUEE5, REPORT ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 PLANS FOR FUTURE PERIODS The trustee5 wish to continue the investment policy a5 set out above with a view to generating sufficient incorne to meet the objectives of the charity for awarding grants each year with governan costs bein9 maintsined at a reasonable level. STRucfuRE. GOvERcE AND MANAGEMETr Governing document The charity 15 an unincorporated association governed by a scheme of the Charity Commission dated 19 May 1972 as varied by a scheme dated 25 March 1986 as affectsd by resolution made under $74 of the Charities Act 1993 on 25 November 2010. The trustees who served dLbring the year and up to the date of signature of the financial statsments were= Reverend A Richardson Mr E Knibb Councillor J Hunt Reverend R Walker-Hill Councillor W Rees Councillor A Haywood Venerable J Tomlinson Reverend Dr F Gre9son (Resigned 28 April 2024) (Resigned 14 July 2024) Recrultrmnt and appolntmert of new tntstees The power to appoint new trustees resides with the trustees of the time as set out in the governing document. All tru5tee5 give their time voluntsrily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the financial ststements. Inductlon and tralning of new trust•es A5 part of their induction programme new tru5tee5 are mède aware of their responsibilities as trustw of the St Thomas's Dole Charity. This induction include5 an introduction to the objectives. scope and policie5 of the charity and information on trustee responsibilities together with a copy of the charity's governing document. Organlsation struthre The trustee5 who have served during the year are disclosed above. All matters of policy. management and any other item5 a5 circumstances qUi are determined by the trustees who meet ice per year. The trustee5' report was approved by the Board of Trustees. REVEREND A RICHARDSON Trustee Dated.. 20 November 2024
ST THOMASS DOLE CHARfTY INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF sr THOMAS5 DOLE CHARrrY I report to the trustees on my examination of the financial statemènts of 5t Thoma5'5 Dole Charity (the charity) for the year ended 30 September 2024. RESPONSIBILlEs AND 8ASIS OF REPORT As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 Ithe 2011 Act). I report in respect of my examination of the charity s financial statements corr1 out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicab Directions gNen by the Charity Commission under section 145(5)Ib) of the 2011 Act. INDEPENDENT EXAMINER'S sfATEMENT Your attention is drawn to the fact that the charity ha5 prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reportin9 Stsndard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities- Statement of Recommended Practice issued on 1 April 2005 which 15 referred to in the extsnt re9ulations but ha5 now been withdrawn. under5tsnd that this ha5 been done in order for financial ststements to wovide a tnje and fair view in accordance with Generally Accepted Accounting Practice effective for reporting period5 beginning on or after 1 January 2015. I have cornpleted my examination. I confirm that r*0 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records We not kept in respect of the charity as required by section 130 of the 2011 Act.. or the financial statements do not accord with those records.. or the financial ststements do not comply with the applicable requirements conceming the form and content of actounts set out in the Chartties (Accounts and Reports) RegLslations 2008 other than any requirnent that the accounts give a true and fair view which is not a matter considered a5 part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to Y4hich attention should be drawn in this report in order to enable a proper understsnding of the financial ststements to be reached. JW HINKS LLP Chartered Accountants 19 Highfield Road Edgba5ton Birmingham B153BH Dated.. 20 November 2024
ST THOMAS'S DOLE CHARITY STATEMENT OF FINANCL4L ACTIVITIES INCWDING INCOME AND EXPENDITURE ACCOUI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Totsl unrestritt Restrictsd fuThJs funds 2023 2023 Totsl fvnds 2024 fiJnd5 2024 2024 2023 INCOME FROM: Investments 70.301 70.301 68.669 68.669 EXPENDITURE ON.. Charitable activities 55.244 55.244 52,029 52,029 Net gains on investments 71.210 71.210 48.007 48.007 NET INCOME AND MOVEMENT IN FUNDS 15.057 71.210 86.267 16,640 48.007 64,647 RECONCILIATION OF FUNDS: Fund balances at 1 October 2023 45.313 1.165.022 1,210.335 28,673 1,117,015 1,145.688 FUND BALANCES AT 30 SEPTEMBER 2024 60.370 1.236,232 1.296.602 45.313 1.165,022 1.210,335 The statement of financial activities include5 all gains and losses recognised in the year. All income and expenditure derive frorn continuing activities.
ST THOMAS'S DOLE CHARITY BALANCE SHE AS AT 30 SEPTEMBER 2024 2024 2023 FIXED ASSETS Investrnents 11 1.233.048 1.161.838 CURRENT ASSErs Cash at bank and in hand 66.020 50,891 CREDrroR5: AMOUNTS FALLING I)UE WITHIN ONE YEAR 12 (2.466) (2.394) Net current assets 63.554 48,497 TiJfAL ASSEfs LESS OJRRENT UABILrriES 1,296.602 1.210.335 THE FUNDS OFTrIE CHARITY Restricted income funds unstrICted funds 13 1,236,232 60.370 1.165.022 45.313 1,296,602 1.210,335 The financial statements were approved by the tru5tses on 20 November 2024 Reverend A Richardson TRUSTEE
ST THOMAS'S DOLE CHARrry NOTES TO THE FINANCIAL sfATEMENTS FOR ThE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES CHARITY INFORMATION St Thomas's Dole Charity is an unincorporated 3550Ciation govemed by a scheme of the Charity Commission dated 19 May 1972 as varied by a scheme dated 25 March 1986 as affected by resolution made under S74 of the Charities Act 1993 on 25 November 2010. The charity's registered office 15 at the Diocesan Office. The Church of England. 190 Corporation Street, Birmingham. B4 6QD. 1.1 ACCOUNMNG CONVENTION These financial statements have been prepared in accordance with FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Iland- (-FRS 102-). -Accountin9 and Reporting by Charities- the Statement of Recommended Practice for charities applying FRS 102, the Chaiities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The charity is a Public Benefit Entity a5 defined by FRS 102. The financial ststements have departed from the Charities (Accounts and Report5) Regulations 2008 only to the extent required to provide a true and fair view. This departure has invofved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Ststement of Recommended Practice which 15 referred to in the Regulations but which has since been withdrawn. The financial ststements are prepared in sterling which is the functional currency of the charity. Monetsry amounts in these financial 5tstements are rounded to the nearest £1. The financial statements have bèen prepared under the hrical cost convention. modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below. The charity has taken advantsge of the following disclosure exemption in preparing these financial ststements as permitted by FRS 102.. the requirernents of Section 7 Ststement of Cash Flows. 1.2 GOING CONCERN At the time of approvin9 the financial ststements. the trustees have a reasonable expectstion that the charity has adequate resources to continue in operational existence for the fOSeeable future. Thus thè trustees, continue to adopt the goin9 concern basis of accounting in preparing the financial statements. 1.3 CHARITABLE FUNDS Unrestricted funds are available for use at the discretion of the trustee5 in furtherance of their charitable objective5 unless the funds have been designated for other purposes. Restricted funds are subject to specifTrc condittons by donors as to how they may be used. The purposes and uses of restricted funds are set out in the notes to the financial ststements. 1.4 INCOME Income is recognised when the charty is legalty entitled to it after any perforrnance conditions have been met. the amounts can be measured lIablY. and it is probable that income will be received. Investment income 15 earned through holding assets for investment purposes such as share5 and consists of income such as interest and dividends receivable. where it is not practicable to identify investment management costs included within a scheme with reasonable accuracy, investment income is reported net of these costs and is included only when the amount can be measured lIablY. Interest income is recognised usin9 the effective interest rate method and dividend income is recognised as the charity's right to receive payment is established.
ST THOMAS'S DOLE CHARir NOTES TO THE FINANCIAL STATEMENT5 (coKfiNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES (Contlnued) 1.5 EXPENDuRE l expenditure is accounted for on an accrual basis. has been classifd under headings that aggregate all costs to the ategory and Irrecoverable VAT is included in the relevant C05t cate90ry. Expenditsjre is recognised where there is a legal or constructive obligation to make payments to third parties. it Is probable that the settlement will be required and the amount of the obli9ation can be measured reliably. It Is reco9nised under the following headings. o Expenditure on charitsble activitr"e5. o Other expenditu representin9 those itsms not falling into the above categor. Grants payable are charged in the year when the offer ts conveyed to the recipient except in those cases where the offer 15 conditional. such grants being recognised as expenditu when conditions are fulfilled. Grants offered subject to conditions which have not been met at the year end are not accrued as expenditure. Support Costs are those that assist with the charity but do not directly represent charitsble activities and include office costs, governance costs and other administrative costs. 1.6 FIXED ASSET IMVESTMENTS Fixed a55et investments are initially measured at transaction price excluding transaction costs. and are subsequently rneasured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. Investments are recognised initially at fair value which 15 normally the transaction price excludin9 transaction costs. Subsequently, they are measured at fair value with changes recognised in "net gains/(losses) on investments. in the Statement of Financial Activities if the investments a publicty traded or their fair value can otherwise be measured reliably, 1.7 CASH AND CASH EQUP4ALENTS Cash and cash equivalents include deposits held at call with banks and other third parties. Basic financial assets. which include debtors and cash and bank balances. a initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constrtutes a financing transaction. Whe the transaction is measured at the present value of the futu receipts discounted at a market rate of Interest. Financial assets classified as (eIVable within one year are not amortlsed. Basic financial liabilrties, induding creditor5 and bank loans are initially recognised at transaction price. Financial liabilities are derecognised when the charl5 contractual obligations expire or are discharged or cancelled. 1.8 TAXATION The charity is exempt from corporation tsx on its charitsble actNities.
ST THOMAS'S DOLE CHARrrY NOTES TO THE HNANCIAL STATEMENTS (COPINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 CRITICAL ACCOUNTING EsfiMATES AND AIDGEMENTS In the application of the charty's accounting policies. the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilitie5 that are not wdily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may drffer from these estimate5. The estimate5 and underlying a55umptions a vIewed on an ongoing bas15. Revisions to accounting estimates are recogni5ed in the period in which the estimate is Vised Whe the revision affects only that period, or in the period of the revi5i0n and future periods where the revision affects both current and future periods. INCOME FROM INvMENTS unrestr Unrestrlctsd fund5 fund$ 2024 2023 Income from unlisted investments Interest receivable 70.228 73 68,605 64 70,301 68.669 CHARITABLE ACTivmES Grants pwble 2024 Support Totsl 2024 payable 2023 Totsl 2023 2024 2023 Grant funding of activities {see note 5) Share of support costs (see note 6) 48,955 48.955 45.499 45,499 6,289 6,289 6.530 6.530 48,955 6.289 55.244 45.499 6,530 52,029
ST THOMAS'S DOLE CHARrrY NOTES TO THE FINANaAL STATEMENTS (COKllNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 GRATrifs PAYABLE Grnnts payable 2024 Grants payable 2023 Grants to institutions.. 4th Birmingham Guide5 50th Birmingham Brownies 82nd Birmingham Guides 147th Birmingham Brownies 211 th Nechells Scout Group Aspiring Young Minds Aston & Neachells F¢X)dbank Birrnin9ham Royal Ballet Birmingham Settlement Bromford Bridge Church Birmingham Youth Sports Academy Bright Future A55OCiation CanDo413 Christ Church Burney Lane ABC Club EHMT Erdington Foodbank Free@last Generation5 Community Choir Hodge Hill Church Home-start Birmingham Tameside M&M Holiday Project Norton Hall Over 50's Twilight Club Phoenix Court Residents Association Spitfire Advice and Support Services St Margarets Church Short Heath St Mary Pype Hayes St Matthew's Community Hall Management Commtttee St Pauls ABC Stay and Play Urban Devotion Water Qrton and District Tenni5 Club Worth Unlimited Young5tars 600 600 600 600 2.608 387 766 3,289 1,589 3,398 2.250 1,175 600 990 2.300 2.980 2,876 3,395 1.717 462 6.352 2.750 194 2.760 3,686 4.628 4.680 2.695 800 1.868 2.100 960 900 1.800 2.020 916 300 5.265 2.574 794 2.375 1.690 2.453 4,973 739 48.955 45.499 Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such 9rants being recognised as expenditure when the condittons arè fulfilled. Grants offered subject to conditions which have not been met at the year end are not accrued as expenditu. 10-
ST THOMAS'S DOLE CHARrrY NOTES TO THE NNANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 SUPPORT COSTS 2023 Basis of allocation Sundry expenses 272 Usage West Midlands Funders Network Governance 135 Examiners fees 2.466 2.466 2.358 Governance Managemènt fees 3.763 3.763 3.765 Governance 6.229 6.289 6,530 TRUSTEE5 TRUSTEES, REMUNEPATION AND BENENTS There were no trustees, remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. TRUSTEES, EXPEMSES There were no trustees, expenses Pa for the year ended 30 September 2024 nor for the year ended 30 September 2023. EMPLOYEES There werè no employees during the year. NEf GAINSIILOSSES) ON INVE5TMEP4TS Restrictsd Restrlctsd funds funds 2024 2023 Revaluation of invertments 71,210 48.007 10 TAXATION The charity is exempt from tsxation on activities because all its income is applied for tharitsble purposes. 11
ST THOMLS'S DOLE CHARITY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 11 FIXED ASSET IMVESTMENTS investments co OR VALUATION At 1 October 2023 Valuation changes 1,161.838 71,210 At 30 September 2024 1,233,048 CARRYING AMOUNT At 30 September 2024 1.233.048 At 30 September 2023 1,161,838 12 CREDITOPS: AMouKfs FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 2.466 2,394 13 RESTRICTED FUNDS The Restricted Fund is a fund conssting of investments controlled and administe by the trustees which generates income for the charity. Income generated from this fund is primarily used by the charity to fund grants payable to groups or indNiduals who reside in the ancient parish of Aston in order to alleviate need, hardship or distress. Mov•m•nt In funds Gairrs and Balance at Galns and losses Balance at losses 3010912023 3010912024 Balèr* at 3010912022 Restricted Fund 1.117.015 48.007 1.165.022 71.210 1,236.232 14 UNRESTRicfED FUNDS The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These intlude designated funds which have been set aside out of unrestricted funds by the trustees for spectfic purposes. At 1 October 2023 Incomin9 At30 September 2024 expended General funds 45.313 70.301 (55.244) 60.370 12-
ST ThOMAS'S DOLE CHARrrY NOTES TO THE FINANaAL sfATEMEKrs (coKriNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 14 UNRESTRicfED FUNDS (Contlnued) PREVIOUS YEAR: At 1 October 2022 Incomlng At30 September 2023 gxpended General fund5 28.673 68.669 (52.029) 45,313 15 ANALYSIS OF NEf ASSEfs 8EfwEEN FUNDS Totsl Fund balances at 30 September 2024 are represented by.. Investments Current assets Current liabilities 1,233.048 66.020 (2,466) 1,233,048 66.020 (2.466) 1,296.602 1.296.602 16 RELATED PARTY TRANSAcfioNS The charity did not enter into any transactions with lated parties. 13-