Charity Number .' 252258
THE ARTHUR TOWNROW
PENSIONS FUND
REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 MARCH 2024

THE ARThUR TOWNROW PENSIONS FUND
REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
CHARITY COMMISSION REFERENCE NUMBER: 262266
CONTENTS
Page
1- 3 Tiuste05' Report
Inder￿dent Examinerfs Raport
Ststsment of Financial Activites
Balance Sheet
7- 9 Notes to thg A￿oUnts
10- 12 Schedule of Investrn8nts

THE ARThUR TOWNROW PENSIONS FUND
TRU8TEE8' REPORT
The trustees submit their report and the accounts forth& year ended 31 Marth 2024.
ADMINISTRATIVE DEfAILS
Trustees, wtK* also o)mwise the Committee of Management, are ap￿inted in acc(ffd￿ wilh the regulations
ccrfained in Ihe Decjaralion of Trust arbj are ujrrentty as follows..
Succe8￿ of MwJaret Wamer dec'd
E J Froggatt {foTmerly E J Agulnik) (cl￿1￿perSOn)
The Mayor of the Borough of Chesteffield
Cllr M Bratty
The Vicar of the Parish of Chesterfield
Non8 currenty nominated
The Supenntendent Minisier of the Ch8Sterfield
Methodist Cir￿lt
Revd M Carrick
Nominated representatives ot.
Chesterfield Borough Council
Bolsover Dis1r￿1 Coun￿1
None cuffenly rL)minaled
Cllr J Wilson
Norlh East Derty8hire Di#tslct Counc41
South Yorkshire C￿lmUnIty Foundation LiThMted
Sheffield City Councll
National Counc41 forvoluntary Organisat￿)n5
NO￿ currenvy mmlnated
NL￿e cuThartly nominated
N(￿e cuThwrtly nominated
l Ne￿￿11￿n.SC0tt
A N Hay <wCe-chai￿rSOn)
T Clough
K Gladder8
P Mousley
Bank•rs
The cc￿Operatv￿ Bank plc
15 Elder Way, Chesterfield
Shorts Chartered Accourrtant8
2 Ashgate Road. Chesterfield
Banner Jone5
24 GlUMar￿ate, Chesterfield
JMFinn&Co
Salithry House. London Wall, London
POBox48
Chesterfield, S40 1XT
252256
A¢¢ountants
Sollcltr•r
Inv•stm•nt advls•rs
R•glst•red •ddr•ss
Charlty number
S Dunwell
GOVERNING INSTRUMENT
The ChaThty is regulated by a Declaration of Trust dated 31 December 1966, modlfied by a SclHne crf 20
Febwary 1975, arml approveAI by the Board of Chwrty Commissioners for England and Wales.
Page 1

THE ARTHUR TOWNROW PENSIONS FUND
TRUSTEES, REPORT- contlnued
OBJECTIVES
The objectivas of the Arthur Townrow Pensions Fund are to provide financial benefrt, by the granting of
annuities, to certain women of limited means.
The declaration of twsl of 31 De￿mber 1966 distinguishes beIN￿en annuitants who reside wthin the
Principal Area of Benefrt (being the District Council Areas of Chesterfield. Bolsover and North East
Dgrbyshirel and those who reside elsewhere in England.
In order ta be elpJible for an annuity within the Prlncipal Area of Benefit all p8rsons'.
shall have already attained the age of years and either have never been mathed or are widows
without chiklren, or
I￿espective of age. are widows with children.
However, a parson who is resident outside the Princlpal Area of Benefit may only be granted an annuity If
she has attained the age of foty years and has never been married.
Furthern￿re, no person shall ￿ granted an annuity unless she Is..
a member of thg Church of England and an adherent trj the dcttrine of th8t Church. or
member of a Protestant Church which acknowledges the Hoty Trinity as taught in the Churth of
England.
POLICIES ADOPTED TO FURTHER THE OBJECTIVES
In order to try and achieve th&se objectives the trustees have had leaflets printed and circulated including
publications in Church of England and Protestant magazineslnewsletters which explain the principles of the
fund. They are al￿ in continual contacl with othei charitable and caring organisations throughout Eng18nd
for prosp8Ctive annuitants. In this day and age the annuities paid are predominanty to @Iderty women and
the trustees remain vigilant in thelr efforts to secure further awards lo those of ￿rnited means who fulfil the
condibons of this charity.
There have been no materlal changes in these policies since the last report.
REVIEW OF THE ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR
In planning the trusfs activibes the trustees keep in mind at all times the Charity Commission's guidance on
public benefit as w811 as the spacific objectives of the Fund.
There were 154 annuit8nts at 31 March 2024 {2023'. 1581 and payments this year totsllgd £111,480 {2023:
£107,100). Annu￿rf payments remained at £60 per month throughout the year making a total of £720 per
annum to existing annuitants, as in the previous year.
The investrnent strategy is designed lo maximise income with 8 broad spread of investments lo minimise
risk and the portfolio is managed by J M Finn & Co., one of the countys leading invastment manager
companies.
FINANCIAL REVIEW
Investment income totalled £133,566 this year, compaTed to £141,837 in the previous year. This represents
a 4.43% retum on the current cost of the investments compared to 4.89% last year.
EX￿ndItUre other than annuity payments tOtal￿d £47,367 for the year compared to £48.191 2023.
Overall not incomel{loss) before gains or losses on investments was a loss of £22,339 leawrwJ the
Unrestricted Income Fund with a balance of £234.2411o carried fowdrd al the year end.
The market value of the Fund's investrnent portfolio has TBduced by 4.6% from an openlng value of
£4,160.501 to a closing value at the year end of £4,350,652.
Page 2

THE ARTHUR TOWNROW PENSIONS FUND
TRUSTEES. REPORT- continued
RISK REVIEW
The Committee of Management has conducted a review of the major risks to which the charlty L8 exposed
and systems have been established lo mitigate these risks.
Th8 trustees ￿nSider that Ihe major r&k the charity faw Is that its investment income wll be insuff￿lent
to meet its objectives. This risk is controlled by a regular review, aided by professM)nal invesknent
managers. of the charitys investments portrolm). The risk profile ot the investment portlolio is medium risk
with no minimum percentage of low risk investments.
RESERVES
The trustees deem it prudent to maintain reserves equal to approximately three years, projected
expenditure. The trustees consider that at 31 March 2024 the tharity's resources are adequate to enable it
to fulfil its obligations in the foreseeable future.
STATEMENT OF TRUSTEE8' RESPONSIBILITIES
The trust8ès are responsible for preparing the Tmstees, Report and the financial statements in a￿Ordance
with applicable law and United Kingdom Accounting Stsndards (unit￿1 lQngdom GeneTr1￿ Accepted
A¢￿Unting Practice).
The law applicable to charities in England and Wales requires tha trusteos to prepare financial ststements
for each financial year which give a true and fair view of the state of affalrs of the charity and of the
Ir￿mIng resources and appllrAtion of resources of the charity for that period. In preparing these financial
ststements. the trustees are required to:
select suitable accountirwJ policies and then apply them conslstently,.
observe the methods and prir￿ipKgs in tha Charities SORP.,
make judgements and estimates that are reasonable and prudent
state whether applicable Accounting Standards have been followed. subject to any materlal depathTe8
disclosed and explained in the financial statements. and
prepare the financlal statements on the going conc8m basls unless it is inapwopriate to prgsume that
the charity will continue in operatlon.
The trustses are responsible for keeping proper a￿U￿ting re￿rdS vthkh disch)se with re8sonable
accurw at any time the financial position of the charity and enable them to ensure that the financial
sL7tsrnents comply vthh the Charitie5 Act 2011, the applicable Charities (Accounts and Reports)
Regulations. and the provisions of the trust deed. They are also reswnsible for safeguarding the assets of
the Gharity and hence for takirKJ reasonable steps for th8 prevention and detectlon of fraud and other
INDEPENDENT EXAMINER
K WiLson has express￿ hgr willingness to continue in office and a resolution lo reappoint her as
inWnd8nt examiner will be put to the trustees at the annual general meeting.
Approved by the Tnjstees on 7 October 2024 and signed on thelr behatf ty.
E J Froqgatt
ChairFerson
Page 3

THE ARTHUR TOWNROW PENSIONS FUND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
I rewrt to the charity trustees on my examination of the aLwunts of thg tharity for the year ended 31
March 2024.
This report is rnade solely to the charitys truste8s, as a br￿ly. in accordance wth Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My examlnation has been undertaken so that I might state to
the charitys trustses those matters which l am requirgd to stale to them in an Independent examinerfs
rep￿ and for no oiher purpose. To the ￿lIest extent pemiitted by law. l &) not accepi or 8ssume
reswnsibility to anyone other than the charity and the chaT￿Y'S trustses. as a body, for my work or for this
R•sponslbllities and basls of r¢port
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the
rg4uirements of the Charities Act 2011 I'the ACVI. The trustees consider that an audit is not r4uired for
this year under section 144 of th& Act and that an independent examination is needed.
I report in respect of my examination of the charity's accounts (arried out under section 145 of the Act and
in carrying out my examination I have follciwed all the applicable Directions given by the Charlty
ComMiss￿n under section 145{Sllb) of the 2011 Act.
Ind•p•nd•nt examln•rfs slat•m•nt
I have completed my examination. l o)nfirm that no maierial mattets have ume to my attention in
connection V￿th the examination givina me cause to believe Ihat in any malerial respect
iunting records were not kept in tesF*Ct of the charity as required by section 130 of the ACL or
2. the accounts do not ￿1rd with those records., or
3. the accounts do not comply with the applicable requirements conceming th8 form and content of
accounts set out in the Charities (Account5 and Reports) Regulations 2008 other than any requlrement
that the accounts give a'true and fair view which is not a matter considered as part of an independent
pxamination: or
4. the accounts have not been prepared in accordance ￿￿th the meth￿S and prinCIp￿ of the s￿tem￿l
of Recommended Practice for awjunting and reporting by charit￿ applicable to chartties preparing
Iheir accounts in accordance with the Financial Reporting Slandard applicable In the UK and Republic
ol Ireland IFRS 1021.
I have no Can￿m$ and have ttjme across no other matters in connection wth the examination to which
attention should be drawn in this roport in order to enable a proper understanding of the accounts to be
reached.
K Wilson FCA ACCA DChA
Chart&red Accountant
2 Ashgate Ro•J
Chesterfièkl
Derbyshire
S40 4AA
7 October 2024
Page 4

THE ARTHUR TOWNROW PENSIONS FUND
STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2024
Unr•strl6t•d P•rnian•nt
In¢om•
•ndowment
fund
fund
Total
nds
rotal
funds
2023
Ineom•
Investrnent income:
Income from UK listed investments
Other Income {Baskeyfield Income)
Bank interest
133,566
133,
141,837
5,370
2,942
2.942
Total lThoom•
136,508
136,508
147,270
Exp•ndilur•
Raising funds-.
Investment managem8nt charges
Charitable activities..
Annulues
Administr8tiLm costs
20,120
20.120
21.072
111.480
27,247
111,480
27.247
107, 100
27,119
Tolal Exp•nditur•
158,847
158,847
155,291
Net In¢omel(•xpenditur•) beforo gains and
loss•s •n inv•slm•nts
{22.339)
(22,339}
18,021)
Oth•r R•cognlsod Galnsl{Loss•s)
Gainsl(L05sesl on Investments..
RealkS8d
Unrealised
91,577
71.627
91,577
71,827
(68, 722)
(403,608)
N•t Mgv•m•nt In Fufids
22.3391
163,204
140.865
(480,351)
RKoncili•liofi of Funds
Funds brought forward at 1 April 2023
256.580
4,140.702
4.397.282
4,877,633
Funds oirrled for4vard at 31 Mar¢h 2024
234.241
4,303,906
4,538,147
4,397,282
Page 5

THE ARTHUR TOWNROW PENSIONS FUND
BALANCE SHEET AT 31 MARCH 2024
2024
2023
Flx•d Assets
Investsments
4,350.652
4.160,501
Cufr•Trt Ass•ts
Debtors
Cash at bank
44.769
151,186
92, 155
153,206
195,955
245,361
Cr•dIto￿.
Amounts falling due wthin one year
8,460
N•t Current Assets
187.495
236,781
4,538.147
4,397,282
Funds
Unrestricted income fund
Pemionent end¢)wment fuTh
234,241
4,303,906
257,252
4, 140,030
4.538,147
4,397,282
Approved by the Trustees on 7 October 2024 and signed on their behalf by..
E J Froggltt
Chaitwson
ANHay
Vice-chairperson
Pagg 6

THE ARTHUR TOWNROW PENSIONS FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIE8
Basis ol Ac¢ounting
The ￿Trar￿la1 statements are prepared under the historical cost convention, as modified by th
revaluation of investrnents. The finar¢cial statements have been prepared in accordance with the
statement of Recommended Practice.. Accounting and Reporting by Charihes preparing thelr
accounts in accordance with the Financial Reporting Standard appl￿bIg in the UK and Republ￿ of
Ireland IFRS 1021 {effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Repotting
standard appl￿ble in the UK and Republic of Ireland IFRS 102) and the Charitias Act 2011.
Cash Flow 8tatement
Athantage has been taken of the exemption granted to small entlbes from the requiremant to present
a cash ststemenL
Inv•sthi•nts
Investrnents are stated at the market value al the year end. The Surplus or defiriency on revaluation
is taken to the Statement of Flnancial Actiwties.
Inoomlng R•sour¢•s
Voluntary income is brought into awount when receNed. Investment income Included In the
fin8nckg1 statements on an accruals basis.
R•sourMs Exp•nded
Annuiknes paid and adminlstration costs are charged on an accruals basis.
Fund Ac¢ounting
Unrestricted furKls comprise tho accumulated surplus or deficit on the income and expenditure
account. They arè available for use at the discrBtion of the trustees in furtherance of the general
objectives of the charity. The pe￿a￿ent endowment fijnd represents funds ￿ere the capital is held
until the objectives of the charity are satisfied.
ADMINISTRATION COSTS
2024
2023
Secretarial services
Independent examin&Vs remuneration:
Fees for independenl examination
Other servus
Costs of trustees, meetings and other 6xpenses
Printing, ststionery, postage and comFMrter expenses
17,lJ)O
16, 750
9,240
7, 820
154
853
130
1,419
27,247
27,119
Included above is reimbursemenl of expgnse foi 1 tnJste&s lotalling £13012023: £106 for 1 trustee)
which usually comprises attending trustees. meatings and travel and accommodation for meetings
with the Fund's inveslm9nt advisers.
Olher than as mentioned above, no trustee or connected person received any reMU￿ratIOn or
benefit from the funds of Ihe tharity in either this OT the preceding year. There are no other related
paity transactions that require disclosure.
Page 7

THE ARTHUR TOWNROW PENSIONS FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (contlnued)
2024
2023
FIXED A88Ef INVESTMENT8
UK listed irwestments".
Market Valu8 1 April 2023
Addibons
Disposals
Net unrealised investrnent gainsl(losses)
4,160,501
253.716
(226.770)
163,204
4,703,903
464.664
(578,989)
(429,076)
M*rket Valu• 31 Mar¢h 2024
4,350,652
4, 160,501
Hlstorical Cost 31 Marth 2024
3,010.864
2,896. 121
DEBTOR8
AcCll￿d investment incomo
Income tsx recoverab
Funds in hands of the sknkbroker
2.638
42.131
88.5
44.769
92. 155
CASH AT BANK
Deposit accounts
Current accounts
48.243
102.943
47.688
105,518
151,186
153,206
CREDITOR8: Amounts falllng du• withln one y•ar
Annuities for Mar¢h 2024
Accnjals
60
8,400
8,400
8,460
8,580
Pagg 8

THE ARTHUR TOWNROW PENSION8 FUND
NOTES TO THE ACCOUNT8 FOR THE YEAR ENDED 31 IAARCH 2024 (continued)
7 ANALY81S OF NET ASSETS BETWEEN FUNDS
N•t
ourr•nt
Total
2024
Inv•stm?Thts
Unrestricted Income Fund
Permanent Endowment Fund
88.877
4,2e1.T15
145.364
42,131
234.241
4.303,906
4,350.652
187,495
4.538,147
Net
¢urr•nt
assets
Total
2023
Inveslm•nts
Unrestricted Income Fund
Permanent EndowThent Fund
108.349
4,052.152
148,231
88.550
256,580
4.140,702
4,160,501
236,781
4,397.282
TAXATION
As the Fund is a registered charity it Is exempt from taxatKJn on its inGame and ¢apltal gains. The charity
has IM)me value added tax on its expenditur8 where appropriatè.
P8ge 9

INEIRTIRIR TOVIIKIOWPEN5•JIS FUND
SCIEOULECf M57MEillSANDINVESIAENTIIICOIIE FOR THEYEAREN[￿J1 AIARCHII¥
du
31124
JW.234
gtJ76
3.fj61.47]
2.170
124.9
253,715
515224
IILW
19Y,212
14233
4.1f￿￿O1
25J,715
71.
IJI0.WA
I￿.5￿6
du
31￿4
I￿.636
71431E
113.1
3,79)
117.1
RJ
111JE
1$.￿O￿kn￿9￿￿UfLu0.2S
(236
74.￿5
3,3FQ
7.751
4.5T21
Z4.OB1
2aR351as
I￿.FL¥j
rJ2.5UI
232
117.010
1.170
2.Tr￿(￿lrySh
r1&1
y125
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1S.6Sb
41ZL
S87.775
142.fA*)
1.4JO
112ts51
149.&75
(9.1
14DA75
(a6U)
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25
LWRErr
7.075
7F.175
a3331
TSOIWI.1.LwJlwYs10.￿*
175A
74.5&1
245.9tr3
1.50E
11ST.9251
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1.T16.7a7
46.￿>
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D37.9261
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1.716.7B7
&1.912
153.1
143611
141*0
T.X¥
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12J.412
I￿,125
6J.749
2.ISI
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135.570
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131352
151.351
1122
111.0101
98.1
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128.￿0
1￿.￿13
125.4BI
E125,OCO4.is%t￿￿Yjy*￿
12S.395
116.475
124,452
2￿,715
515,L4
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31.124
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