**CHARITY REGISTRATION NUMBER: 257462** ## **Norfolk Constabulary Benevolent Fund** ## **Unaudited financial statements** **31 December 2023** ## **Norfolk Constabulary Benevolent Fund** ## **Financial statements** ## **Year ended 31 December 2023** ||**Page**| |---|---| |Trustees annual report|1 – 4| |Receipts and Payments Account|5| |Statement of Assets and Liabilities|6| |Independent Examiner’s Report|7| ## **Norfolk Constabulary Benevolent Fund** ## **Trustees’ annual report** ## **Year ended 31 December 2023** The trustees are pleased to present their report, together with the financial statements for the year ended 31 December 2023. ## **Reference and administration details** |**Registered charity name**|Norfolk Constabulary Benevolent Fund| |---|---| |**Charity registration number**|257462| |**Principal office**|Norfolk Constabulary| ||Jubilee House| ||Falconers Chase| ||Wymondham, NR18 0WW| ## **The trustees** The trustees who served during the year and at the date of approval were as follows: |Executive committee|N Davison|(Chair)| |---|---|---| ||J Broome|(Vice Chair)| ||J Brown|(Treasurer)| ||H Ireson|(Secretary)| |Committee|M Askham|| ||P Bassham|| ||L Bishop|| ||R Bray|| ||S Cooper|| ||D Cormican|| ||L Dennis|| ||A Edge|| ||K Gillies|| ||I Hicks|| ||J Higgins|| ||R Jeffrey|| ||D Johnston|| ||S Lee|| ||S Murray|| ||T Pearce|| ||P Roach|| ||S Rose|| ||S Schucroft|| ||M Sheperd|| ||J Silom|| ||J Squires|| ||E Watson|| ||P Wheatley|| ||J Wright|| |National Association Retired Police Officers||| |(NARPO) representative|M Cox|| |Armed Forces Charity (SSAFA) representative|D Kerr|| **1** ## **Norfolk Constabulary Benevolent Fund** ## **Trustees’ annual report** _**(continued)**_ ## **Year ended 31 December 2023** **Bankers** Barclays Bank Plc Leicester Leicestershire, LE87 2BB **Independent examiner** L Thurston FCCA Lovewell Blake LLP First Floor Suite Unit 2 Hillside Business Park Bury St Edmunds, IP32 7EA ## **Objectives and activities** The Norfolk Constabulary Benevolent Fund was established to assist in needy cases of members, former members, their widows, orphans or dependants. It carries out these objectives by paying grants and providing crisis loans where necessary as well as the provision of holiday homes for subsidised holidays and for respite or convalescence. Membership of the fund is open to all serving officers of Norfolk Constabulary. The fund assists members, former members, their widows, orphans and dependants in times of hardship. The fund aims to help current members in need to return more quickly to perform their duties to the public. ## **Public benefit** In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on Public Benefit including, The Public Benefit Requirement (PB1), Running a Charity (PB2) and Reporting (PB3). ## **Achievements and performance** The fund generates the majority of its income from monthly contributions made by officers in the Norfolk force. Other income is derived from donations and collection boxes at each of the stations. Investment income is earned from balances held in the fund’s bank accounts, Charifund Units held with M & G Securities Limited, and investments in COIF Charities Funds. The fund owns and operates two mobile homes at Kelling Heath. One mobile home is used to provide free respite accommodation for members in need and was used by respite cases during the year. The second is let to members for short breaks to generate income to help finance the running costs of both mobile homes. The fees charged are reviewed annually. The running costs are reviewed regularly and the future of the mobile homes continues to be reviewed. During the year 15 (2022: 18) applications for financial assistance were received of which 6 (2022: 16) were approved in this year. Of these 6 grants, 1 turned into a crisis loan. £10,919 (2022: £17,640) was paid in grants and donations to members and former members or their dependants. Trustee representation across the county is constantly monitored to be able to identify new cases of need. During the year the trustees have followed the policy that a quorum shall be entitled to make a Grant not exceeding 5% of the total investment and cash assets of the fund, as published in the Annual report. **2** ## **Norfolk Constabulary Benevolent Fund** ## **Trustees’ annual report** _**(continued)**_ ## **Year ended 31 December 2023** ## **Structure, governance and management** The fund was established under rules adopted in January 1968 as amended on 17 March 1994. The property of the fund is vested in trustees and the management is through the Executive Committee. The fund is now working to the revised constitution adopted in 2014. The current trustees are shown within these financial statements including those who have served during the year and any appointment and resignation dates as required. Membership is open to police officers of any rank serving Norfolk Constabulary. The Executive Committee is elected by the members. ## **Financial review** Income in the year ended 31 December 2023 amounted to £46,233 (2022: £44,698). Of which, holiday home rental amounted to £12,096 (2022: £11,039). Expenditure in the year ended 31 December 2023 amounted to £41,614 (2022: £50,109). The net receipt in the year to 31 December 2023 amounted to £4,619 (2022: net payment of £5,411) which has increased the balance of unrestricted reserves to £78,259 (2022: £73,640) at the year-end date and remains to be carried forward. The net payment is expected and in line with the Reserves policy noted below. ## **Reserves policy** The charity needs reserves to generate investment income to help finance grant expenditure. The investments are reviewed with the fund’s investment advisers regularly to ensure that sufficient liquid reserves are available to meet predicted expenditure for the ensuing six months. The charity’s reserves policy is to maintain reserves at a level adequate to protect its ongoing work. This policy is reviewed annually. The charity aims to hold sufficient reserves to cover six months’ running costs less purchase of assets, this equates to £20,807 (2022: £22,349). The charity’s receipts and payments unrestricted cash as at 31 December 2023 is in surplus with actual reserves being £78,259 (2022: £73,640). The trustees will look to expense excess funds over the foreseeable future and the trustees consider that the charity will continue as a going concern. There are no material uncertainties about the charity's ability to continue. ## **Plans for future periods** The charity plans to continue to assist members, former members, their widows, orphans or dependants over the next year and in doing so plan to pay grants and provide holiday homes for subsidised holidays and for respite or convalescence for the foreseeable future. **3** ## **Norfolk Constabulary Benevolent Fund** ## **Trustees’ annual report** _**(continued)**_ ## **Year ended 31 December 2023** ## **Related party transactions** Trustees were reimbursed amounts totally £215 (2022: £1,778) during the year. There were no other related party transactions during this or the prior period. ## **True and fair override** The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ## **Independent examiner reappointment** A resolution to appoint L Thurston FCCA of Lovewell Blake LLP as independent examiner will be proposed at the next Annual General Meeting. 25/6/2024 The trustees’ annual report was approved on …………………… and signed on behalf of the board of trustees by: N Davison J Brown Chair Treasurer **4** ## **Norfolk Constabulary Benevolent Fund** ## **Receipts and payments account** ## **Year ended 31 December 2023** |
**£**
**Receipts:**
Donations, legacies and grants
Donations and collection boxes
4,912
Legacies
-
Interest received
COIF deposit account
31
COIF fixed interest fund
245
COIF property fund
502
COIF ethical fund
744
Dividends received
Members’ subscriptions
Holiday home rental
**Total receipts**
**Payments:**
Financial assistance
Police convalescent home out of pocket expenses
Holiday home running costs
OPCCN Administration post
Legal and professional fees
Trustee indemnity insurance

**Total payments**
**Net (payments)** **for the year**
Cash funds at 31 December 2022
**Cash funds at 31 December 2023**|**2023**
**£**
**£**
4,591
-
4,912
24
184
376
558
1,522
1,525
26,178
12,096

46,233
11,346
815
20,265
7,011
1,836
341
41,614
4,619
73,640
**78,259**|**2022**
**£**
4,591
1,142
1,481
26,445
11,039
44,698
21,935
875
18,850
6,370
1,788
291
50,109
(5,411)
79,051
**73,640**| |---|---|---| **5** ## **Norfolk Constabulary Benevolent Fund** ## **Statement of assets and liabilities** ## **As at 31 December 2023** ||**2023**|**2022**| |---|---|---| ||**Unrestricted**|**Unrestricted**| ||**Funds**|**Funds**| ||**£**|**£**| |**Cash funds**||| |Barclays current account|65,820|62,723| |COIF Charities deposit account|12,439|10,917| |**Total cash funds**|78,259|73,640| ||**Valuation**|**Valuation**| |**Investment assets**|**2023**|**2022**| |M & G Charifund units|25,603|26,219| |COIF Charities Fixed Interest Fund|4,494|4,254| |COIF Charities Property Fund|5,679|6,056| |COIF Charities Ethical Fund|21,411|19,467| |**Total investment assets**|57,187|55,996| ||**Cost Valuation**|**Cost Valuation**| |**Assets retained for own use**|**2023 2023**|**2022 2022**| |Holiday home at Kelling Heath – Plot 45|53,800 42,995|53,800 42,995| |Holiday home at Kelling Heath – Plot NR20|59,995 59,995|59,995 59,995| |**Total assets retained for own use**|113,795 102,990|113,795 102,990| |**Creditors and accruals**||| |Creditors and accruals|(1,980)|(1,836)| |**Total creditors and accruals**|(1,980)|(1,836)
| |These financial statements were approved by the trustees on………………………..and are signed on their behalf
25/6/2024||| |by :||| N Davison J Brown Chair Treasurer **6** ## **Norfolk Constabulary Benevolent Fund** ## **Independent Examiner’s report to the trustees** ## **Year ended 31 December 2023** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on the afore mentioned pages of these financial statements. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. L Thurston FCCA Independent examiner Lovewell Blake LLP First Floor Suite Unit 2 Hillside Business Park Bury St Edmunds IP32 7EA 25/6/2024 …………………… **7**