THE CIVIL SERVICE RETIREMENT FELLOWSHIP CS The CIVIL Service Retirement Fellowship Report and Financial Statements For the Year Ended 31 December 2021 A charity registered in England and Wales No. 25S465 and in Scotland No. SC039049 and a company limited by guarantee registered in England and Wales No. 6297479
C5 REPORT & FINANCIAL STATEME1s For Ihe year eThJed 31 December 2021 Corthnts Ch&fs Rep 2to3 Rewt ot the P•Jard of D¥cicxs Jto7 RelweneÈ and A(1fflintstratNC Dctails 8t011 In¢ependeni Exarnir&s ReF(Kt 12 Syemert ol FinancAI 13 cornparae Staiemerrt of Financial l( Year Enoing 31 [lnber 2020 14 Bal9n sheet 15 Cash flow &al(Ment 16 Notes to financkij statemL¥rt5 17to32
REPORT & FINANCIAL STATEMENTS For the year ended 31 December 2021 Report of thÈ Board of Directors The Board of Directors we pICas to present trir annual report togettrw with the finanaal statts of the thanty for ycar endir4 31 DwnLv 2021. Chairfs report Wc were tested ty the Covid pandemic thrwglKyrt 2021. tlgh sorne of our groups cINJse to SUspu their acrivit)es in the winter dL to Omicron variant, we kM towards 2022 wrth d gre8ter sense of ¢)Ptsmism: the vacone5 have proved effective and savcyl mèny IIVL and treatments for those who succumb to Covid arc far more thancaj than thcy wore. But at the tsme of WTitiry, with thc reducing of restri(tiors across the Uniled knThJdorn l am t ihat Vde can rettim to a world vthith allows to intcract with each other freety. the w 12 montts. our small team in the CSRF office have cOnnUed to MarJe their way throu9h the twists tums of gUIdae and regulatiors. Through0 2021. we have continued to priorits.se the health a1 safery of our stdff and subscnbers. makiThJ use of the furlough scherne and at Dmes. rogrL%lably. suspending both our group netsyork meetings ar our homc bcfnending service. I wa5 delighte¢ thcrcfore to see that many of our groups did get back tTrJether when it was safe to do so. T knovi that the energy arxl eaSure that 1thse of y(Ks who were able to attend drcw from these n1rj$ was really wgty"vc. l arn optifftstsc that by SpriNJ ttle cntirc group tyrk wll te in full swing once again. Also on a rh)sifive note. in 2021 we saw a rewed interest in our tC1cp)nC befriendiThJ service, the launch of a rth PM Pal S(trle, continued strong eTrJagcmcnt in our Ch)ef Execubvc's bk dub steaty use of our nv+Y Freephone telephone line for signposb.ng a1 advice. And in July we held our first eve.r thgital Conference Yrfhich. while differwt from an in- peryA>n confererKe. 5ti11 eniibled us lo reo)nnoct wjth old friends. make s(ffne new oncs and talk about the dosc to the CSRF hearL The kxNtive feedback from this twent will feed into some of our artr4ilies to ra aarr3 of digitsl teCtrmkY in 2022. Inevitably. Covid has alg) impaaed M rNr atsrty to hoki fundraisiNJ "tr"e5. N{helesS. 1 arn pleased to repNt that f( the fifth c(¥)seofft year. we recorded a small surplus in our finanoal statements thanks to thc cxpcrt steNardship of the CSRF team wh(h, duc to some departures in 2021. rw con$S of Just Dawd arthj Jean. l am Sure Ihat ev0 aswated th thc Fello¥hIP will want to join me in thanking them for t1r tirele55 arKI dedicated work througrK)Ut anoirmy challeThJing year. The year saw some Chang to srrucrure of the Board of Directors which were approvLYi at the 2021 Annual General Meeting. As a rcsult, we welcomed Eltiabeth Gèrdincr and Robert McIntyre as ncw memtVs of thc Board and we said farewell to Margaret Carter. We aiso creaied a ncw Board working group to Ik at attttudes to ageing in later lrfc. As I lte. group 6 in the pr¢55 of cotte(tiTNJ ferjjback arKI vil from those within our community aro grOvn9 ohjer. I reflcctcd last year on the nLd for w organisatiM to ensu rt remains able to connett with those approaching retirement arMJ attract rtw 5ulrAriI)ers. TO SUPPOrt th6, the eA)ard of Direcrors bcgan a convcrsanon in L)ccemt)er the futu straiegy for our Fellowship. We will continue this over the coming year. seeking your in the pr(xess. to ensu that our
C5 REPORT & FINANCIAL STATEMENTS For the year ended 31 tle¢eml>er 2021 collethve vision arKI aspirations are UrerpinDCd by souThJ finarKes and are appwiatdy staffed by trf)th wr offKe tearn our p)1 of volunteus. The CSRF would f4)i have toen able to ddiver anythirg In 2021 wrthout th¢ support of o subscritvs a1 (kJnor5, our stsff. our volunteers and rny fellow Dircttor5. Vlhether you have given your time or your treasure - Of both - ttlank you. We kk forward to a bnghtu 2022 and to a strong. purposeful future for the Fell(h)lP. Madeleine Alessandri CMG National Honorary Chair Purposes and actsvitles Our main mission is 10 proje frtshIp and support to hdp fomv civil $ants and It'r dependants enjoy a more futfilled reb'remenL puryM)ses are: to value retirees and their partndepdOnts ty grrfiThJ them a VOIC£ thrwh involvernent in the chanty; to tacsje lolinesS and allcviate sooal i5(A&ion by continuirffj to support the national campaign io end lonelirv•5 arKI v40rking to ensure a better quality of life for any retired civil servant wtK) may expcnenoThJ lorliness or sooal i9)laMn: and to work t(wther yth other organisations 10 delNer the bc5t PD55ible sepites to all bcncficiarics and to fflake the besi 16e of the ovuall ar to redu gap5 aTr1 dupl•catw)n in We eThJeavour to promorc acce59bilty to our servKes a$ SrtthS and erthira9e our benefioanes to tske parL The stratcgics Pknyed io athie4e tt chant<s aims objectr a to: ensure are an Or(jani5ati that is able to 94Wrt our s(xriber5 afKI beneficiaries: maintain support of our iyal group network; ensurc all who may be experiencirrfj kylir or soaal isolabon have acccss to a ter qualrty of lrfe" seek to increase inc(me ail indLMliThJ furM4rd actsmD arrfl sporffjor5hip nd: maintain frequont ccynrnunication of all (XK sthrn arxl usiThJ dl available communication thannels. Putting these strategies into *ion we hwe thr main areas of 1vitY which are: CM befrierKlirKJ schemes (the Natirmal Visitors Netth armj Phone BdY Stheme), I¢xAII groups and our of latp5 to svJnpostlTrJ arKI ad¥Ke. In 2021 as ow group rteivth ralr susperKled lor rn05t of the ypar. we did t undcytsko our annual co1{tion of attendae figUS at grtyJp meet1r. But 2.400 (2020:2.050) calls & viyts ¥¥cre wowded via our befriendiry semces. Beftiending Serviff5 This year has seen a drop in the number of active users of schemes as people5 prioritie5 have changed as a result of the pandanK. As a cor6cqnCc. the Board of Directors asked the Chief Exe(utNe to undertake a review of the See$, the rewlt of whith was a set of recommLYrflaJons that Induded a change to the staffirvj resources attadd to the sChe[S aloTrJside a str¥en1Th] of the SUP provbded to both volunieers and Le
C5 REPORT & FINANCIAL STATEMENTS For the year ended 31 December 2(r21 The changes werc implefflented in SLxond half of year arKI indude(I thc creation of a new volunteu training rrndule for befritJJ5 and more re9ular contart b&ng Maintair with scrvice (Lsers and volunteer& The national befnendirHJ schemcs rcrnain an imwrt3nt part of the serK¢S provhled ty the CSRF and v4111 continue to be an inbjral part of all future communiGition ar#Y markeb.ng carnpa•9ns. This wa5 fvrttler tolstered by our natK)nal furMJraising appeal in 2021 whKh succcsstully managed to rd6e £18,253 for the re5Ct(J fwKI to surrfy)rt tt betTIng In additityt to home and telephone fn"en¢tship we 7•vere able to exteThJ our befriending servi to alK> inclLMle those enjoy the art of letter wnty'w. Thc P& Stheme taund)cd in May 2021 and has aladY attractod a number of ser¥Ke users. The befriending scrvices trends in 2021 rcfic£tcJ ttrthe from Wes years and reinfo th¢ prloritse5 for the sd)emes as bcing that of volunteer rurtment ar#J service user rJyagement. Speofically. this ncots to ft)cus on encoura9iThJ more ser4Ke users to regster for the seTrKes. improve the volunteer ConVersn rate {e.g. scc more people followiTrJ through from an initial expression of Intcrest) and source neéi voluntccr5 for area5 where we have no voluntews to fknall in 2021 wt provided 2,4CQ Calls arnl visits to ser#ice users (2020.. 2,050) which was an IrKrease on our fKJures for thc prTr4K)us year desle tr drop in active users. Local Group Networ1( After remaining closed most of the year, the greffi li9ht was giv for gn)ups to restart their activtties fmm A)usL g)me managed to resume meotirys in AuSt with many OPtirMJ instead for first meetings In September and October. Cr groups in Norttr IreldThJ arKI some of tre in Wales were slower to r¢)pen to variab.ons In COV restrittions fr(m the Nort Ireland A5sembty aThJ Wdsh Govcynment. Sadly year has seen the ck>sv of a nuffltu of our sm1 to medium gzod grw due to change in priorities for group leadcrs [t pand•n and a lack of active volunteers williNJ and ble to take on the res[11[ Invfftd with running a griKIP. Fellowship offi maintsinetl regular contart with group throUgUt the year with the Chief Executive sendin9 regular emails with updates, news arwj useful infonnation as well as maintainirKJ the use of nt and iym for those rK)t LtsirKJ email. The provision of mnthty printL¥l newssheets for those groups that requ th alw cononued until July 2021. Ensuring we provKJe apkwopnate supwrt aTrJ guN1ae to 9foLWS as tty retum io 'Th)rrnal' will remain a priority in 2022. Howcver the path to reIng was slight ddayed by the arrival in Dcccmbu 2021 of the Omicron variant whKh n5ulted in some grrwps deciding to susperKI their meetings in January 2022. re are still funds in the Local C(xnmunity (knup Support FurKI (a deggnated fund set up to SUprt group costs) arKI 2022 natsonal fundrdising appeal wlll bc roced on rai51r mon to support our grow)s.
REPORT & FINANCIAL 5TATEMEpirs For the year ended 31 December 2021 As the group netsYor remained closed for most of 2021 Our annual cOltt10n of group attendae rureS was weTrJed for a second corGecutive year alth)ugh thLS wili be resumed in 2022. Inforniation & Advice provision ot information arml thice to beries runained an imp)rtant part of o charitable SepceS in 2021. Although Fellowship Officc remai1Y1 dosed for sc#ne of the year ¥ wtte still able to re¥)ornl to Ipttcr5. ca115 and lts from berneS w a réngc of subjects suth as pensions, financial supp)rt, care homes and beaVernenL We havc conb"nuLYI to de0p aThJ build our ncrwork of partnerships aThJ collabordtsve work]ng wlth other organisations to ensure we can respond to these requests via the provision of leafiets. guidL5 or %gnposb'ng to other or9anisats"ons. In 2021 Ihesc Includt)J Marie Curie (we supported their Day of Rcfiethon). Htstory Begins at Home (launched by the National Records offi). FricTrts Against Scams (kaunctd by Nauonal TrddiTr9 Standards) and thc J)y Oub (who provide lasure athitses for those in tcr lrfo). Thanks to funds ratsed the previous year we laurKhed a Frceptrm)r number to pyowde easy access to Fellowlp offi and to enable befician(S to requcst assstance on any Subject. The number went live in Apnl 2021 a1 receNed ¢)ver ICK) calls in it5 fif5t six n)onts. Overall in 2021 handled 350 uIreS for Informati ajvice via telephone, email and letter. Our volunteers The CSRF deliver5 many of its 5ervKe5 thank5 to tre b.me giv by its natM)nwide team of volunteers. From those vigt or oll a belary on our befrierKJing smeS to the volunteers who hclp run our group thrk recogni5irKJ," 5uppJrbng and &krM)wled9irwJ their contnbution is ar thc Wrt of our voluntcLYing p)licy. We a very graieful 10 the resilien and commitrneni shown by all our VUnteerS in 2021 whKh wa5 arx)ther dlngIrj year. As Ouf services gradually return to 'n(mal. In 2022 wc bMII bc hopiry that we can improve our recruiiment of new volunteers and see an IrKrcasc to thc usc of somc of our services. Engaganent with the Civil Service Our Board of Dircaors indudcs a numt4y of ser4iTrJ civil sVants. Our CThil servi ChampK)n (fvtst ParIrnentary Counsel aThJ Pennancnt Sccretsry of tt Govemment in Parliament Group in the Cabinet Office) Darne Elizabeth Gardiner LK8 QC (Hon). Chair Madcleine AlessarHdri CMG and Director Patn"ck Gallagher (who work5 ft)r the Executive offi of Northern Ireland Owl Se1) all C(Jnt1nL to wovmle reWe5tiOn wtthin the Civil SeThtt in 2021. The Government CommunKation servi offered to arculate some of Cmjr wom011cal materials thin dcpJrtmts to help rJisc aWar<Yv of our scrvbccs and a number of our Volunteer 8efnenders Vdho are also sernng ovil seTrants helped share Informatyon on t1r dcpartmrfs intranets. Tho. CSRF was also inbryted to drfNer a video prpwtt3tion to delegatrs from the Gvil Service Racc Forum vthich prowded a hi9hW useful OPFKXtunty to cxtcrKI awarcnrss of vtho we are ar
C51_
REPORT & FINANCIAL sTATEMEPs
R•r the year ended 31 December 2021
ihe services wc provide to a new aLKlience of ovil servants. Further exploration will be ongoirwj
to ltrfy Ot similar fDrums Ythere a &milar exercise mdy be urmjcrtakts).
Howevcr. the oThJ)ing diff1[5 faccd ty the existing data wotection barriers that prevent the
CSRF being property promoted to all ovil scrvice persioners remain arKI further dsak)gue to
aitempt to find a way through these restnttJ"orG 711 contsnue In 2022.
As usual Yie have also nkiinrained agernent with the other Ciwl Service welfarc boOics and
orgènisatr¢)ns Tr Charity for Servanfs, Cl1 Service Insur4rKe Soocty and CSSC srts &
Leisure) to help supty)rt our aims and obiecbves.
Working Groups
Following rhc aaivitjes durir4J IkdO¥M to assess organisational re911¢ Board of
Dirortors creatcd a number of wortrJTrJ groups to consi
CS
REPORT & FINANCIAL STATEMEKrs
For the year ended 31 December 2(r21
NAN
FINANC
The CSRF'5 ¢KperKir(ure is dosdy ryb)nitored by the Board of Dirertors regularly revthys
trt finanoal wsibon of the or9anisabon. The day.itrday finanoal administration is ovcrseen by
Chief Executive ihe support of our part-tsme tKN)kkewr Tracey Darby. Tr CSRF
remains committed to building wJdLtional revenue streams thrOh tUrraIsiJ tIvities. now
and cxisb.ng subscn'pbons and opti¢)ns fv investment and to continue to preseNe its finarKial
reserves. Thc prctiOn of legaLry gNing as part of the CSRF'S furKJr4i5ing artivrties continued
during the year arKI the fflon rec•ved from all in 2021 are ackrMJ¥ledged with
gTrtitude.
Investment powers afid policy
All investrnent decisions a mado Board of Direct(xs afv.ce from the Trur.
Bookkeeper and Chref Executivc. In 2021. the CW maintsined ts investrn
cs REPORT & FINANCIAL STATEMENTS For the year ermjed 31 December 2021 AND ADMINISniA r Advi Company Secretsry Unit I i. Pcw5 House Greenwich QLWI claren Road London SE8 3EY Independent Examiner N1{1a5 Simkirs FCA Thc House Bonehill StaffordshI B78 3HX Bankers Uoyds Bank pk Harbr Island Branch 24-27 HartrK)ur Excharye Square London E14 Directors Madeleine AlessaThJri CMG National HoTh)rary Chair Michelle Wyeff. NatKJnal Honorary Vice Chair Michaet Hamm¢)nd CBE Natn31 Honorary Treasurer Liz Beedie" Margaret Carter (stocKI (kn¥n in Jur 2021) An Guess (5trJd dovm d to Illness Ortober 2021) Rthrt Mdntyre. (eletted in June 2021) )atrick Gall4her" Civil knice Champion Dame Elizabeth Gardiner 8, QC (Hon) Firsr Parliamentary Counsd aTrl Pemianent Secrctary of t Govemmenl in Parliament Group In the cabi Offi (elecled as Crector in JurÉ 2021) Patron Elizabeth Sl0r6. BarorKss sOrG of Vernham Dean. PC Lord Sedwill of Shertx)uff* KCMG FRGS IctrPresidents Sir Aex Allan KCB Paul Gray CB Pctcr X)nes CB Keitn knawran Milbum lan Rathjen FCA Jenny Rowe CB
cs REPORT & FINANCIAL STATEMEKrs For the year ended 31 Deeefflber 2021 VERNANCE AND NA EME Governing D(Knt The CSRF's wlioes are set by the Board of rectOrS a5 the g0vem1j LK#Jy in acCOrdat wtth the Arltcles of Association. infornied ty the wishes of ts rnnber$ as exFeSSed at the Annual Gcncral Meetsng. Governance Relorni & Annual General 14eeting 2021 Annual General Mcct]ng was hdd as a pwal event wih C(Mnpany Members rcknng detailed infomiats.on outlining the proposed reubOnS and CO"e5 of the Annual Report (induding Chair and Treasurers Report5). In addition, a Digital thiference was hdd in Juty to discuss SUeS relcvant ro those in l¢]ler life and nattonal rnatte of interesL cfver 50 ddegates partiapated in the event {thcy indudcd Company Mernbers. Board Dir and Volunteer 8cfriendws) and the feedback recuved from (Jdcytes was genallY p05the. The 9ovcming trfjdy of the CSRF Is the Board of txrcrtors. The knJctvre of the Board consists of the Officers of CSRF and other members. Three are Elcttcd Directors ele(t(xl by the Company Members at It Annual Gen31 M&tirrfJ. three a A55otsaie Dircttor5 apinted by nominatn5 panel based on their skills and expertise. All ed)ard Directors 5eNe for a of no more than six year5. The 'offs. are the Chairman armj tro Treasurer (nominatcd by the Cabinet Office). the WKe Chair (nominatcd by the Natnal Trade Union CommJrree) and the Chief Executive. who is also Company Sccretary aKI apwintcd by the E4)ard of Dire(tors. Followirrfj unanimous approval ai the 2021 Annual GenwaS Mcetiw, the Company Memt¥J5 voted to ttnge the currcnt stnxture ot Board of Director5. The nUrnr of Director5 elected by tho group r)etwork were reduccyt from three to arxl the Associate Dire(lor posts wcrc atdished (the than9es to take effect frvm ihc AnnL1 General Meeting in 2022). The poytion of Civil SefvKe Champion vdas made Dircttor and ty40 thrcctor Posts were created (one to rnE the BefriclIr0 Schemes and ottror to represenr Later Ltfe t55ue5). Candidates for tb"onS will election at 2022 Annual (knral Meeting. Trustee induction and training New diretors roccNe an intrrMJuction pa( of infmation atoul the Fdlow5hip that indudes ihar legal obligatiors under charity and company law. the Charity Commission guidance (K) public beneftL the Memtrandum and Artsdes of As50Oati. the cornmttee and decision- making processe5, the bvyness plan and recent financial wfomiance ot the charity. They also have the optM)rtunity to participate in reknnt Erainiry wlwe it will help f]lItate 1r role as a tre(ior. Or9aniSation The Civil servi Rctrrcmcnt Fell0Vhip is a charity that operated as an unincorpcrdted bcrtly unts'l 31 De(crnbcr 2007 when its assets, lbilitIes. business operati¢y6 activtknes were transferred to a compary limited by guarantc¢ calkd The Gvil ScrvKe Retirement Fellowship The CSRF ooeratcs throughout the United KId(n. IndJir0 haviTrJ Groups in Scotland. It has therefore regtStcrcd ur tre charifi & TrustLY InVestmt (thr) Art 2(M)5 wrth the of the Scothsh Charity Regulator fQSCR?.
C5 REPORT & FINANCIAL STATEMEKrs For the year ended 31 December 2Q1 The CSRF'S day-to-day administration and 0ran5 arc run by the Chief Executive and his team from Fellowship Office. which is based In Grccnwith. London. The olTiCC is resp)nsible for handling all the administration assc(iated Yiith tr organisation: recorts, fironce. group I.1$¢n, communicaDons & partrtrships, fuTrJrdisirKJ, vOlteer managemaiL of Servi aThl secretanai support to tr Board of "reor5. The CSRF adopts a flexiC vrI[j h(Kr5 [iCY ar has a of full and part-time staff wl)o are supported where necessary by offi volunteers. At thc cnd of 2021 re We two slaff posts fillod. One full b'me (Chief Executive) and part time (Admin & Group Supwt Officcr). Pay Policy senilx staff The pay of senior stsff is Jgrecd by the Board of thrcrtors. In view of the nature arKI size of the Fellowship. thc Board of Director5 benchmiirk agaIt pay Scvds in other equivalt or9an6ations orthting wrthin the Third Sector and also tske into Considtrat bre of re5ponsilylities senior staff w(ld be asked ro urKJertake. Risk Mana9wnent The Board of Dir have a risk rnanaggwit strategy which comprises: a quarterty rLviLW of the w"napal nsks WKI urKcrtainties that the CSRF fe$ the Lablishment of any wlioes, systerr6 and PL¥Jure5 to mibgate those rsks; aThJ, tre implcmcntation of pKcKedures desKJned to minimise or manage any ttIal impact on thc Fcllow5hip 5h)ukl those risks materialLse The Board of Directors revTrLhS and updates the Rtsk Register (where necessary) at each of rts mcetir¥Js througkK)ut the year. DATA PROTEcfioN In 2021. the CSRF maintsined its [M)I1 ft)r data collection, data sharir dara protection to ensure compliancy with arma confOrtY to the Gewal Oata PrOtettjn Regulation {GDPR). As the Data Protection Lead for the Fetlowship, the Chief ExecutTve continues to eru that the Board of Director5, FeElowship Office staff, voluntCÉY5 and Group officer5 a kept utKlated on the Icgislation aThJ erre that any charKJes are fie(red within the Fdlowship'5 polioes arwj proccdurL5. SAFEGUARDING The Board of Directors regukty miews Safeguardi as part of the5r regular revie*Y of tre r6k re9Ster at all meth'ngs. THE CHARrrY GOVERNANCE CODE How CSRF measures up io ihe ell prirKipl(5 Sct out in The Charity Govemantr C(MJe (CGC) is assessed annualty by the Board of Directors. The Vicc Chair and Treasurer carrd out comprehensive rewew of CGC in 2021 and the Board agreed that the CSRF'S current apprh, licieS and prc(edurcs to Charity Governan Code's svien pnnciVeS, but this WUld be kept wular annL41 rc4iew and rf necessary. ttrje$ Vuld be considued in the future. io
cs REPORT & FINANCIAL STATEMENTS For the year erKled 31 December 2tr21 DIREcfoRS' RESPONSIBILtTIES The Dirc(ror5 are respor6it>le for preparing the Rerth of the "reCtorS and financial stateMts in accordance Yith applicable law and Un"rted Kirydom ACa)Untir Standards (Unrted Kin9dom Generalty Actrpted AccouDbty Prattice). Company law rUir{S the D1CtOrS to prepar¢ fifianoal ststpmpnts fnr pxh financial year which qive a true arKJ fair view of the slate of affairs of thc CSRF of thc incoming rwurces ano applicatK)n of rur, Induding the Irwne and expeTrJiture, of the CSRF for that pericmd. In weparing these financi ststnents. the Th"rectors are required to: sdcyt sjitable KcountiThJ tKAleS arKI apthi CO$ten. obseNe the methods aThd priwples of the CharitKS SORP (Statement of ReComnded Pracbce); make JLMdgents ar esrimates that a r&is(¥wble a1 [en( state whthr applicable UK Accwntinq Stsndards have teen followeil. subject to any material departu to'rvj disdosed and explained in financial 5taternents: and prepare the fir$aal statements on thc gcing concem basi5 unlw it is inappropnate to presume the CSRF 111 conunue in business. The Directors a r(sponsible for keeping adequate Cryjntj) rec£ts which are SLJffioent to show and explain the CSRF'5 tr8nsa(tions and whjch disdose vnth reasonable a¢(urary at any time the finanoal p05itw)n of the CSRF and to enablc them io ensurc that the finarKial statcments comply with the Companie5 Art 2(N)6, thc Charities and Trustee Investment (Scotlar¥J) Act 2CK15. the Charities Accounts (Scotland) RegulaDons and the ChariWs constjtubon. Thy are reSt)nSIble for ofeguardin9 the assets ol Fdlowship arsd for takn.ng reascwbk step5 fDr the rnnon and dete(tsn of fra any other Irre¢Juiarit1. As far as the thrector5 are awarc is rm) relevant audit inf0mtIOn of whth ihe CSRF'S IrKlependent Examiw is unawarc and the reCtorS have taken all stcps thai they ought to have taken to make thernselves awarc of any relevant infonnats'on arKi to establish that the Independent Examiner is aware of that infomation. The Dirertors a responsible for mainre.nance and integrity of the CF finarbial informat)on Lnduded on CSRF'S website, legslab.on in the United 1norn 9oveming thc paration and dtsseminaljon of finartial ststcma)ts may dtffer in ots juris(licti6. Appointment of xTrdent Examiiier The rcsolub.on to deodo on the appropriate audtt prc(ess costs for the awlit for the Year ended 31 Decernber 2021 was approve(i as part of the 2021 Postal Annual Gcneral Meeting in June arKI Juty. It was decided f01bn9 ths to apprn1 an Independent Examiner. Small company provi510ns This r(a)ort ha5 been prepared in accordarKe with the speoal wovfjion5 gnall comparues urKler Part 15 of thc Companies Act 2CK)6. Approved by the Board of Dire¢bys M 4th May 2022 and signed on its behalf by: Madeleine Ale55andri CMG National Honorary Chair li
cs REPORT & FINANCIAL STATEMENTS For the year ended 31 December 2021 INDEPENDENT EXA141NER'S REPORT TO THE MEMBERS AND TRUSTEES OF THE CIVIL SERVICE RETIREMENT FELLOWSHIP 2021. Aw•ibilbs hd basls for veport A5 charfg tnth5 01 the CAry rts teclfs lty c(xTrpJny law) under 145 of Owrtjps kt 2011 fft 2011 ktl. In (rg nry I hht the cretrtt6 97 (¥Ts%(0 urthr 145(51 Ibl rA thE 20111. 145 01 the 2011 that l am quakfxd to un(btske tt beLAust i am b folknv ol the InstrtLie examinatim; or tAh the FinarKh¥ Rep>try gar#&fd UK aThJ ReNth (FRS 1021. . 14itholas Srnkins FCA (TCAEW) Tr May 2022 Staffordshre B78 JIiK 12
cs REPORT & FINANCIAL STATEMEpirs For the year ended 31 Decembef 2021 STATEMENT QF NANcL ACTMnES THE YEAR ENDED 31 DECEMBER 2021 the Income and ExwKlityre Accoynt for the year ended 31 Decembef 2021) Tnt31 ds Funts 2Q21 2011 2021 2020 ISW2 15 30,713 4395 24508 163NOO 191,908 223,& 15,917 Toial lfficoming res¢xY 25* 187,986 214494 272 A•i5in9 17.414 17A14 16.975 io&ii 16,947 181.553 198 230,169 967 I9215 914 Met incvme 11561 (10.981> ReconciSation fvnds: 48.$61 6667 715rt48 @.319 22123
C5 REPORT & FINANCIAL STATEMENTS For the year ended 31 t>ecemlJeT 2021 STATEMEIIT OF FINANCtAL ACTIVIllts FOR ThE YEAR ENDED 31 DECtMeER 2010 (Incornrating the inc¥4ne and Expe*diture Acrount for the year énded 31 Oe£ernbtr 2020) T4)t•l Funds Fund5 2020 Funds Funds 2020 20 2019 AND 713 30,n3 85.078 4J95 4J95 3.148 17AII8 206.2>) 223,248 256.023 13.917 13.917 17 25S 255 27 273 Raixity funds L4975 IA•7S JS,7XI io&ii 30.758 199hii 2Jo.169 238.632 216,316 (13.740) 129 78,117 Tot•1 funds 6UOI 624018 690J19 612.202 2212J 715 14
cs REPOFIT & FINANCIAL STATEMEpirs For the year erKled 31 December 2021 ALAIICE SHE AS AT 31 DECEMBER 2021 (Comp•ny number (16297479) 2021 2020 T•ffi91b Assets 14 264 3.$11 15 16 16.267 17.785 710.414 728.199 Gish at Bank and in Hand 724.616 Tmilhin one y¢•r 17 (12 423L 715m9 715.n6 719.617 (13351 {4.164) Funds 21 22 666,8B7 48.5Gi 60.122 22123 716 15 d the (nnIeS kr Madèleine Abessandri CMG f4aboMI Hononry Chair Is
C5 REPORT & FINANCIAL STATEMENTS For the year en(kd 31 December 21r21 CASHFLOW ATEmENT AS AT 31 DECEMBER 2021 2021 lt I{[fA in) 27a {Il96) 17.322 S5 22>7 710.414 688.1 710.414 16
cs REPORT & FINANCIAL STATEMENTS For the year erNJed 31 December 2021 I. COMPANY INFORIIATION ScTvKe RetYernt Fefy)rthip Yer0) In Eryla w5 11). 255465 In SctdaThJ No. SCD39Tr19. It a lth)tsJ * 94wrrtee r•4igued in Iki. (629747). Its cwriry of incorkv&w 6 EffjLaTh4. The Re9pAered (hce E Unrt I I, Pew5 HQKc. Gre8Mh i>w. ONerKe IlÈJ•d. Lwth. SE8 3EY. (a) tsasi5 of acrwrt¥¥ of Reccfflmerth1 PKtKg"A£ctyJnting Rep>rr4 ty charrt Wic3tlÈ iD preD3nng thcir xcounts #i ccxdancc tmth h¢1331 Reptrthw. In trt ux cl Ireland (FRS 102)-. ttt Ccrfnwt5 ki 2OX a¢KI the nanc Rcpxythj aOK¢Ytk in UK and ReputdK Irell {FPS 102). Trt tl¥. -PBL" wefrxed paragraFs of FR5102. a at histlical c(rA c¢ tranr (ton va unlw ctrerw6e stad reici¥rt py rvxe(:). Tr fmonrAI Statents ha% teen rxg.pared tr) a prrfj CCern tk yC<s 2017.2021 fn¥tial ¢n t¥eing ktrK¥A .nt COVID 19 ourt¢3k has thp Cws 0rat)i¥ and fmanc41 wlorrn3r ths h Fell(v4th"p a snN315uW. At 31 Ettoxttr 20?I, nrt aets £716.Im vBs Cag) Wted ty 17Ce,349 bk. Tlw ta r.pS are tn In bank cvrrent 7rJ5 rrf) aEcoated risk ofo tsll In Val rfthE TrNyket The eé)¥d of Chrcctors 11 arkd nawrc fffjawal rese at 31 Ixypmber 2021 ar (p to V ¢* &grMng the annual ret(¥r financ 5t&¢ftts, does nct irn U[ assurnpbc that rynis)tts) 15 J cthypm. 17
C5 AEPORT & FINANCIAL STATEMETrS For the year efi( 31 Dewnber Pth)TES FORMING PART OF THE FDWICW sfATEMEfn5 folkxin9 pYin(wl K£(rts¥j tten aw: (c) Incoming re>yirces subscn¢tyns rffeNèJ ats 2013 6 owtsten or5." rtrI1 m to th[5 arc Grants pert(xmm.TEkrtLxI ((YiJItlE. in whKh case. It. TectW¢iJ Certwrrk3e.rck}tthl are (d) T•ngiblè fixed assets [wnittJre and eqtmpnt at 15% pw o rrykn¥vJ bak)Ke t6>9f. Tderknr wsrm at 20% rtt urn on ctyA (e) Expemlit tharty gKh a5 tt tost of toard meetrys, W ccryI44È. cc&s io tr strat4K manawwE c¢ 18
C5 REPORT & FINANCIAL STATEMEKrs For the year ended 31 December 2021 IIOTES FORMIIIG PART OF THE FINANCIAL STATEIIENTS {rJ KatI[ d suPpt costs SuFpJrt co5 we thr£e Vwt ¥¥ryk tt thanty diredty Chartsb 11. CpJrdmrrr> ÉirKI trs. cffj ttknjrrtèble actMt£s. genErdtry ful 9trre. year a gaff survey 6 urthtakcn to (9) Reco¥erable tax (h) Pub accwbtin9 ti) Cash at b ih hand C"h al iWk JNJ 17th in hand IK1 aThl 5hyt iym highty gKt three month5 or less from ts datc 0fx0ur) LY simil¥ [[. (k) CT•ditor% c4kiW rllU ffi the tr¥6fcr ol fur1$ w ) ttwd p3rty JrKyJnt dLt to can be measured diThnt5 d. (l) Flnancial ir&Twn¢nlS Fe&>rtthip has finaW assets aTrJ fIrn{ cl a that qUaY as bJ5ic finartial inthmerts. Bas financo initiolty r&DJnJtA at trdK[m>7 and at tyrir 5ettJur• 19
C5 REPORT & FINANCIAL STATEMENTS For the year ended 31 December 2021 NOTES FOAMING PART OF ThE FIMAIICIAL STATEMEIITS (m) Pension d(e<h. fffjm I ?0161. re<ÉKJnit•d in tit (Our C(Yrtr&pJ yab io t ¥aff PEns•J "Aherr., SeN(e. Eewnr FtThl and knura(Ke was Oftn 10 all rn?r ¢ qAff d the CSBF. Crw Houm4 Attti)n Lrted and FL4ythip. with crrthin age iierk). hernc Js muTrJ-enWiyer and to ¥w With effert frcrfn March 2(W and tQ eX6bts) m•ntÉrs I) S 2CQI. ctty 28 of FRS PEmits tfd tenrt MeMjr rA¥is to Lt for i]s il rt vrt¥e a ¢fincd pkin. SJftsnt InformJts"gri tr .fts is rnx èvaitst for a6cS)gJrc ol the a5 a Lletrtw pentrI. w the FRS 102 cxcmptth 6 rng tskn. Ttveth. ccwrtrts Ctw to as fèm d and cth tt bIlty rdatry (% Thxt 20 Ic full the thme). UNCERTAIlItY In pParI Pin31 &aIcrrKx, V) rewjred to makc esb"ms ar¥J &Y.' infonnaty'CI appliCan d Wjért are Irthrcrt fOrna c4 tDycLlts e%FttatW5 or suth estimdtL4 onfy JlK&a &imaie clthe Fe0)15 CthjtD bo rate life sU1r05 re arrte. Lrfe l•tmter5' 5uNiipW5 are (kf(YTvJ w lpi èNJ rekned e%tnly to Ir ovu thc truen¢ Fwiots. Lj'fe 9JrMrthns èfter 2013 years; tho YLttThtil w to r<Kopr4te trAirE&e of tlkit wim enR ènd makc full use the fvll réry of Servi and offered the frelloknp. 20
cs REPORT & FINANCIAL STATEPAENTS For ihe year ended 31 De¢embw 2021 X121 2020 miw. 9362 10.240 330 1921 2020 2021 2020 U66 31,214 137,967 2,499 31,432 155.298 16,th 3,?51 1,018 201 13.549 JtrAri9I). Aroual ffErtrys. &)5h Tnath 971 137 MrAdL3rfxis If( ?020 253 191.908 20.224 174684 19L908 17,018 223248 X121 2020 Net trangef frcffj ckJ*d fws Ir2 ?,925 820 io.c£o HMRC JRS {FwkW)" 13.917 21
cs REPORT & FINANCIAL STATEMENTS For the year ended 31 December 2021 hawe rrfojnl In TNri the re5(Krfc• WLYe re£oV rectyvhble. DuriTrJ the Itar. # Felkyrt5hip ing £20.36112020: K18.0191. Ir*l12020: £1) sreofoty ts NVN XDvbtses, Ib)s t <knWti iota1kn1 E9,) (2020". £10.2401. C6AIKJ (2020: £20,143) rt£el4td. In irKorrt. 2021 11.131 10356 871 393 L612 030 773 ?ss Comrrwmc&•Jn 37 441 26 PLofesg)nal Fee5 & PKokAeeLMrw4 972 917 22
C5 REPORT & FINANCIAL STATEIIENTS For ihe year ended 31 December 2021 2921 2020 Staff costs 97.706 IX,038 14947 101,161 11,2S7 7,643 7.518 2.495 14,979 14.146 9.038 579 328 372 L¥fe AssUrae S fxher 51aff 252 3.778 17 19 Gttyernaè tt6ts (Notè 11) 1fj,203 22,682 16.947 18 ,758 Unrearthd 230.169 23
C5 REPORT & HNANCiAL STATEMENTS For the year ended 31 December 2021 IIOTES F¢)RMING PART OF ThE FItrIANCIAL STATEMEMTS 2021 Stsff costs . 14WI 11.925 Printing & sts7bery L162 523 149 L3n Caher CDg5 M5 147 216 Direct C05L5 9JtYA- 432 550 26.203 327 tre(rry5' Cog5 E in r1 1202tr.2 of m1jrnents Lé Governance 2021 (Note 11) Totsl 20?0 (Note 9) (Note M) Prntin9 & slatity 871 393 1.612 7.643 1.162 9.676 523 4A62 1149 17.907 L3TJ iwi 9.211 14,146 9A138 18279 10331 IlJ36 37 441 323 3072 7,S54 415 4,901 4.610 2 21.133 Professional Fee5 & Bookk¢cpin9 24
REPORT & FINANCIAL STATEME5 For the year ended 31 December 2021 IiIIA 3.69) 678 DeFY¢(iation 577 Furnitw• & T•t•l At l J••u•ry 2021 Additiofts in year 17,783 10,646 2V29 Al 31 0Mb# 2021 17.783 At l Jaffiy•ry 2021 •rye lty the yur 13.942 S77 10,646 I48B 577 At 31 DEbIr 2021 14 25,165 At 31 (*¢mt4r 2011 3,261 At 31 ctr 2020 ))20 2.553 10.960 72 9.940 I26? 25
cs REPORT & FINANCIAL sTATEME1s For the year ended 31 t)ecernber 2021 2020 iOJM>i 694188 67 93 12.171 698.C63 67 93 At bank and In h•fvd •t Ornnches 710414 2022. 2021 4263 4.350 413 1.657 1034 2.937 4.150 771 years; ththt ruci4td to Vx5 beiry arrhyty tr•t¥ ffteen subyty)s to t bythin 12 nye than (Nrte 18). 2021 2020 171 B.281 &din5 (UK12) 4.169 Toial 6.170 T(*al arrw falry (k wrthirfl aT 2,CKII 4.169 6,170 335 4.169 26
C5 REPORT & FINANCIAL STATEMEKrs For the year erKled 31 December 2021 2021 2020 Thè duc 5 )B¥s & Énd12020.. £nO1. 19. Employees 2021 X120 Grtri5 lrS Lmthp.fs nattyJwl InanCe 75.657 118.6SO 437 41J47 57.086 378 Totsl 51off crtsts Co# c gerfsabn9 fthjs EXlxltUre charth KbvilK N)a1 VI<Atr*5 Neiwcfk 11,131 97.706 10,357 101.163 28.493 11.925 16,613 14WI HMRC job gart ttE 18284 2021 2020 Cost rHNng fun¢ts 3,774 361 4.345 3.647 35,618 27
CS REPORT & FINANCIAL STATEMENTS For the year ended 31 Decemljer 2021 MOTES F(MwING PART OF 1HE FINAIKW sfATEMEIITS I pensK)n cOs andlobknt arr alkKated to LnftstrKte¢ furKt5 C ba9s that (OSL% were jncvrreA1 value gaff )me ynl eath FeWhtP. in thith the 01 ¥e Yene%l futJ (tr CSBfi otpr3t•d a rLffj"(ontrdyrtw dthd irYth1p of 1XX ro ¥1 Fnnent nmbers stsff ( CrthN) Lmtsd effoa ftDm Marrh ?000 and to exiW ftrmbws frum 5 Wl ?W4. pl•) as is In9rffKkrt xhcmc inforty41r To f¢Y the Fens• as 3 nefit an. availat4t e IrtsmoDon is nrt 9JffOY fL (k6$es. 45xtyl0llt Fetsirj ro CSRF rXI. ThiE MD# TLXtY)t Valua )5 at S WI 2019 of £1.655,Cth for the Sch as a vttdc. In 2016 fo&iwiry the F%cvKx valuati(n the emrtyys wrth the trustct% thar ty wrrill aim to drfrurAtp. defKIt (MY a perL¥J d 7 Ir$ frcwn 6 Aw"12016 quarterly PWFTrts, arrears. TfwAees COder was Th) refjutrtt0 4rnEThJ orpwal ft)ng 2020 w71Lw1. The lt rert plan )Jrccd duW ]6, effcctrt frcffl 6 Aw6 2017. Cts)Ms the CMI W¥Ye REIre Feknship kn fftake KYnts urrtil 2023, ai wnKfft fcKEcast to Lt r)d. The WenI ccwnmrts thè iebv%hip ID annual Lwcst £29.() 2018 %Ual elror. Contribu1n É9,IXKI. 2021 2020 Within l y I to 5 years (her 5 ye•$ 42,374 iO,S66 41.402 5Z.940 qreed ls urtl 5 2023: It3ft to costs cl May 2015 C¢>rrJ ttIAr thE 15 t a lao man sckn and L> 5U(h there oblwpiyJn wn&JywJ io I1[S of dlly eW A %knyl515 valuatiffj <whKh re( thc fK amcK¥)t reouThd to s£awe ITter¥ wth bft ¥YAwwre awnpany) 5 Awl 2016 Oacet1 value ofa nEt f<¥ CSRF membu5 at £I..C(m). The exwe relaDr4 to ttE Feroj u¥Jin9 31 [knnL 2021, as le in lh¢ X)I"&K was £41,347 1202D: £3?.086). At ye¥ ci £nl2010.. Endl & Tn[Sed (re in FElati( io tre 28
C5 REPORT & FINANCIAL STATEMENTS For the year ended 31 December 2021 IV)TES FQRMIIIG PART OF THE FINANCIAL STATEMEIIYS The Feltc¥ship the atxhf. Pkn t Atyjrarrc Limited in l&)vwrkn 2004, effLrtNe from 6 ?OCA. Thc Plan ts a cornDburw ¥th empwv. Contribut by IL4kJhthip crxnwLSITrJ a CLYe arrKNJnt ol 5% grr ba sa, a w(entage the 17ictr's conmhutrxl Iw to 4 rYw)NJm 3%) a furthLY percentrge t4 len9U) of seNce. The m 2015. The peA)nal Pensic Pldn was chèThxd io a WuksaNE F¢ng)n PWI effert frrKn 1st tyemt(Y 2016 wth the Pknnal cc41trtsth chw rA thè Flan were K3.634 (2020: £6.3nii. Ill#led vthin creortNs ar the y eThl WE £413 (2020: £771) habt It( admiri5tr41tr lty tyms 21. Fuhds Ile£onaliation lance at lJan21 Balance •t 31 Ile( 21 RestrKted Funds (Noie 22) UthrestnttÈd Funds - Geral 4861 6X020 28,508 187.986 (16.947) (189.405) (9,562L 215 914 60,1 636,601 19 715 71fj fund vths us•A for markethro ar•J co #) 2021 (*e we 121. 29
C5 REPORT & FINANCIAL STATEMENTS For the year er•ded 31 December 2LY21 lJan20 31t2O Re51T1 Funds (Note 22) Un¥estricttd Funds. Gertr•l unStrICted dwig¥t¢d fw 61301 578.018 17.018 255.255 (30,7581 (195,2S31 48.561 638.020 31 Dec 21 2&924 26 1.971 {16.947) 3¢514 I20 31 Cc 20 27.757 E4.9)7 17MI6 130.758> I4.? {14.9)7) 28.924 )rets FoJect 62.XJl ThE to t¢lricfthJ t¢e0 from tr ¢yT•.ratvd frryn our 2021 NbJrwl whKh wa5 raFng TrrKey tD Sutrth rAJr arKJ ttlTthJing SLyts. We è total of £18253 Irryn rctewed tene1w a w-reStr grart d £S.CO) fttm tr SefvKe As our group netrc(k rern?1 fLY rrTht It¥ Tr) were re(¥tx1 IEY (nc4 suA)x( uriiiy 202 1. 9icw cont]tw io In 2022 ¢ expected that financ4¥-4UPPYt rw to LE to wr dnd ffdium 92e(l ¥) to tnn9 up thar rc hye costs. Wrth that in mirbj our 2022 funthsry apteal is Ic£used M the aThJ al ro to tup up
cs REPORT & FINANCIAL STATEMENTS Fly the year ended 31 December 2021 14(yfES FQRMThG PART OF ThE FIMANCEAL STATEHEPtrs TOTAL 2020 TOTAL 2020 Fryed a55ets Current assels Currtnt li•tslit 3,264 664,494 {9a17) {1335) 3.264 3.841 724,616 728.198 [917) (12,422) (35 4,16eJ} 60,122 TOTAL 2020 Fixed assets 3,841 679.637 112.422) 3.841 728.198 {12.4221 41691. 48.561 24. Vdufitew¥ felloth4? Is ats. to rrwry of s to ts Iwrp. team cé v(kn These tho whts.. iygaTh5e aThJ run flaralyYj èverrts tknng VCaT b(2020.,£Y) wa5 rett rE1T1x pxet t4se5 tD £rMI (2020: 2) Trufft> T£ (cs15red 194 {2020.' £94) cé K.nil (2020.. £nil) hctel ((%raDC. m. Tnsrees made trtr the t¢n9 Él7 C?0. K??S) ard meMrSh gthtr1rt c< 1210 nil). 31
cs REPORT & FINANCIAL sTATEME1s For the ye3r ended 31 December 2021 2021 710.414 Firwnckil troa9JrY at arThytrrtd c05r 243 2 723 927 720 FiTrJrKv41 meaAwed at •i#Yt1 c05t FUWla1 rts rreasurrd & foir ¥alue conrA5t d cash èt trnk and in Thj. Tr Val asset Oeiemined 2021 2020 25,129 Iments tr. S77 (40) 1.426 678 (4.3951 6,873 Inttrrt on cath deFrf)5i5 {11/<trease m debtfY5 Irrreastll¢ueaJe) uèJQNS Pk*cash k¥cNthY tyllused in} c¢•) xtr4tr5 2021 2020 ath hand Nrt¢e t1¢(¥ {Ix£ than 3 rroJrth5) Total ash ¢tywv•lents 10.161 698.188_ 9 710414 12.331 32