REGISTERED CHARITY NUMBER: 258273
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
ESSEX POLICE FORCE BENEVOLENT FUND
Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
ESSEX POLICE FORCE BENEVOLENT FUND
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 6 |
| Independent Examiner's Report | 7 | ||
| Statement of Financial Activities | 8 | ||
| Balance Sheet | 9 | ||
| Notes to the Financial Statements | 10 | to | 14 |
ESSEX POLICE FORCE BENEVOLENT FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Essex Police Force Benevolent Fund continues to support both members of the Force and pensioners. In line with its aims it also stands ready to support widows, orphans and other dependants who the committee has decided will be eligible for assistance.
The Fund achieves its objectives by the means of providing cash grants or by other such means as the General Committee shall determine from time to time.
The Fund has also continued with its financial assistance towards those listed above who have developed the need for convalescent care. This support has been by way of the official police convalescent home or by provision of alternative arrangements as considered appropriate by the committee.
The Fund has continued to advertise itself by way of articles and photographs almost exclusively within Essex Police, although we are now looking to try to reach out to those retired officers who will not have access to internal communications. Significant work is currently underway to release an intranet page to further inform a wider audience of the support the Fund can give and it is planned to be launched in 2025.
The Fund has published a set of guidelines on the Essex Police intranet site, which can be accessed by all serving officers. This gives a brief description of the type of applications which are considered to be eligible for financial assistance, bearing in mind the Fund's charitable status.
The Fund continues to receive its funding through three main streams, set monthly contributions from serving officers, monies from the investment fund as necessary and voluntary contributions through gifts from collections and voluntary monthly donations, mainly from retired officers.
Significant activities
The Trustees consider that its grant making activities and the management of the Fund's investment portfolio are its significant activities.
Fundraising is also becoming a much more relevant activity due to the monthly donations remaining stubbornly static.
Public benefit
The Fund provides assistance and continued support for current serving and retired members of the Force, as well as their dependants, which assists and promotes the efficiency of the Force as described under the scope of the Charity Commission's guidance.
Grantmaking
The amounts of grants or other dispensations is at the discretion of the General Committee, having regard to the funds available including expected commitments.
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ESSEX POLICE FORCE BENEVOLENT FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Trustees report
The Trustees continue to focus closely upon the governance of the Fund, to ensure that decision making is in accordance with the Fund's purpose, that it meets statutory requirements and, where applicable, is compliant with Charity Commission best practice.
The Trustees acknowledge the support of W Kennedy (Honorary Chair), G Wood (Honorary Treasurer), G Fryatt (Honorary Secretary) and all serving and retired members of the General Committee. Without their continued efforts, carried out either in their own time or in addition to their day to day duties, the Fund would be unable to provide excellent support to serving and retired members. Their efforts and commitment represent the best values of Essex Police.
Two special acknowledgements are made for D Williams and ACC A Mariner. D Williams has been a stalwart member of the Trustee Committee and announced his retirement after serving for over 7 years, his experience, knowledge and support will be missed. ACC A Mariner took the Chair of the General Committee in 2024 and his enthusiasm and energy has had a significant positive impact on the charity.
During this reporting period the Trustees have;
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continued to monitor the Fund's compliance with Charity Commission Guidance relating to Internal Financial Controls (CC8) and ensured that action has been taken to achieve compliance with statutory requirements and, where applicable, best practice guidance;
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commenced a review of the performance of the investment fund to ensure it is performing at its best for the charity;
-
agreed an expenditure budget;
-
adopted a proactive approach to risk management;
-
increased the robustness of the monitoring of investment performance.
Charitable activities
A total of 41 (2024 - 55) applications for assistance to individuals were approved and paid in the year. Grants paid amounted to £35,389 (2024 - £65,453). The majority of grants were made to support individuals who were experiencing financial difficulties. A further 10 claims were declined following careful consideration. Of the 41 supported applications, all but one were made to serving officers or staff. After the previous two years, the drop in monies granted is a welcomed development given the severe pressure this was putting on the investment fund. We believe this is a reflection of coming out of a period of well known severe financial pressures felt across public services and the wider society.
The Fund has not made monies available to support health and wellbeing initiatives at police stations in the county. It is unlikely to do so in the near future, prioritising supporting those in more immediate need.
The Fund also maintained the tradition of making a Festive Season payment to those widows and widowers in receipt of comparatively low annual pensions. Donations and gifts that were accepted by the recipients amounted to £8,200 (2024 - £8,600).
As at the year end the market value of the investments was £680,744 (2024 - £642,914).
The results for the year, with comparative information are set out in the accompanying financial statements.
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ESSEX POLICE FORCE BENEVOLENT FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Investment policy and objectives
As detailed in the Fund rules, such monies as shall not be required for immediate use shall, with the consent of the General Committee, be invested in any investment in which the trustees are authorised to invest by law.
The Trustees seek a balanced total return approach from a diversified portfolio. The overriding desire of the trustees is to keep the income from the portfolio at a reasonable level, but being cognisant with market conditions, in order to support the beneficiaries of the Fund.
The Trustees wish to adopt a low risk approach. This will be met by the construction of a multi-asset class portfolio.
The Fund's investment advisors are Canaccord Genuity Wealth Management.
Reserves policy
The Essex Police Force Benevolent Fund requires minimum reserves of £400,000 to protect its current activities and provide funding for long term projects to progress them to completion, in order to allow the Trustees to meet their responsibilities and ensure that the Fund can continue to operate on a going concern basis.
Reserves are used to finance any situation that might arise in accordance with the stated objectives of the Fund. There are no plans to diversify and invest in any other assets other than current investments.
At the year ended 31 March 2025, total reserves were £761,936 (2024 - £781,600) and were considered adequate for the Fund to continue to achieve its objectives.
FUTURE PLANS
Like many charities, the Fund has seen significant demand in the past few years, which has impacted on the level of reserves held. With the support of the General Committee, it is crucial that the Trustees have a forward-looking plan to enhance the income of the Fund, as well as ensuring that best practise is employed in supporting the General Committee when issuing grants and other forms of support.
Looking forward, the Trustees will;
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continue to support the efforts of the General Committee to increase the number of serving officers who contribute voluntarily to the Fund;
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review the skill profile of the Trustee Board to ensure it is fit to meet the future challenges;
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review current and projected income and examine alternative fund raising opportunities in addition to donations received from members and external sources;
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provide guidance to the General Committee as it considers a broader range of funding initiatives consistent with the aims, objectives and charitable purpose of the Fund;
-
have a proactive approach to addressing potential risks to the Fund.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Fund was established by a charitable trust deed on 1 January 1986. The Fund's objects are to provide for appropriate levels of support for those facing poverty, suffering and distress. This includes members and pensioners of The Essex Police Force, members on retirement or unable to work on medical grounds and for the widows, orphans and other dependants of the aforesaid.
That support can come in the form of monetary grants or signposting to other agencies,charities and bodies better suited to support those in particular needs.
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ESSEX POLICE FORCE BENEVOLENT FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The general committee consists of the Officers of the Fund, the Welfare Officer, one representative from each of the Local Policing Areas and from the Executive Sub-committee, one superintendent nominated by the Superintendent's Association and three persons nominated by the Joint Branch Board of the Police Federation.
The General Committee meets quarterly and is responsible for the general control and management of the Fund.
Trustees are appointed by approval at General Committee meeting.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Identified risks are as follows:
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cessation of donation income;
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potential future demand associated with increasing life expectancy;
-
potential future demand associated with increasing living costs;
-
reduction in the number of donors;
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reduction in investment income; and
-
regulatory compliance.
Of these risks the most significant is reduction in income. There will be a drive to address this in the coming year through greater promotion and awareness of the Fund, to both serving and retired officers. It is this significant risk area that will form the focus of Trustee efforts during 2025-26.
In the coming year the Trustees will be taking a more proactive approach to identifying and, as far as is possible, addressing risks at the earliest opportunity
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
258273
Principal address
Police Headquarters Chelmsford Essex CM2 6DA
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ESSEX POLICE FORCE BENEVOLENT FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Trustees
W Kennedy (Chair) R Nolan D Williams I Box D Yarnall R Coan A Thorn G Truluck L Morris
Resigned March 2024 Resigned March 2025 Resigned June 2025
Appointed June 2025 Appointed April 2024 Appointed April 2024
Patron
BJ Harrington (Chief Constable)
General Committee
S Hooper (Chair) A Mariner (Chair) L Hammett (Dep Chair) G Wood (Hon. Treasurer) K Blackwell (Deputy Hon. Treasurer) J Collins (Deputy Hon. Treasurer) G Fryatt (Secretary) L Archer (Deputy Hon. Secretary) S Parry (Deputy Hon. Secretary) G Furnival (Narpo) J McCarthy C Wheeler M Waters S Parry L Heggie K Turner M Baker V Bond A Alcock A Blakesley J Barnett K Knibbs K Blackwell T Todd T Balding P Kittle S Martin (Federation) C Cronin R Mackenzie
Appointed July 2025 Resigned July 2025 Appointed July 2024
Appointed August 2024 Resigned August 2024
Appointed August 2025 Resigned August 2025
Resigned August 2024 Resigned July 2024
Appointed July 2024
Independent Examiner
Robert Howe BEng FCA Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
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ESSEX POLICE FORCE BENEVOLENT FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS Investment Advisers
Canaccord Genuity Wealth Management 41 Lothbury London EC2R 7AE
Approved by order of the board of trustees on 8 October 2025 and signed on its behalf by:
W Kennedy - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ESSEX POLICE FORCE BENEVOLENT FUND
Independent examiner's report to the trustees of Essex Police Force Benevolent Fund
I report to the charity trustees on my examination of the accounts of Essex Police Force Benevolent Fund (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Robert Howe BEng FCA
Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
10 October 2025
Page 7
ESSEX POLICE FORCE BENEVOLENT FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 2025 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 32,934 Investment income 3 15,596 Total 48,530 EXPENDITURE ON Raising funds 4 9,437 Charitable activities 5 Donations and gifts 8,200 Grants payable 35,449 Support costs 6,007 Total 59,093 Net gains/(losses) on investments (9,101) NET INCOME/(EXPENDITURE) (19,664) RECONCILIATION OF FUNDS Total funds brought forward 781,600 TOTAL FUNDS CARRIED FORWARD 761,936 |
2024 Total funds £ 32,643 14,704 |
|---|---|
| 47,347 | |
| 9,409 8,600 65,453 4,040 |
|
| 87,502 | |
| 43,348 | |
| 3,193 778,407 |
|
| 781,600 |
The notes form part of these financial statements
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ESSEX POLICE FORCE BENEVOLENT FUND
BALANCE SHEET 31 MARCH 2025
| Notes FIXED ASSETS Investments 9 CURRENT ASSETS Debtors 10 Investments 11 Cash at bank CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS |
2025 Unrestricted fund £ 680,744 6,304 28,821 49,788 84,913 (3,721) 81,192 761,936 761,936 761,936 761,936 |
2024 Total funds £ 642,914 6,481 15,236 120,631 142,348 (3,662) 138,686 781,600 781,600 781,600 781,600 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 October 2025 and were signed on its behalf by:
W Kennedy - Trustee
The notes form part of these financial statements
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ESSEX POLICE FORCE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Subscriptions are accounted for in the period in which the charity is entitled to receipt.
Cash donations, gifts and cash collected at fund raising events are included in full in the Statement of Financial Activities as soon as they are received.
Investment income is accounted for in the period in which the charity is entitled to receipt.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Grants payable are included in full in the Statement of Financial Activities as soon as they are approved.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Fixed asset investments
Investments are stated at market value less provisions as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the period.
Investment gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the carrying value at the period end and the opening market value (or purchase date if later). Realised and unrealised gains and losses are not separated in the Statement of Financial Activities.
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continued...
ESSEX POLICE FORCE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| Donations Subscriptions |
2025 £ 6,915 26,019 32,934 |
2024 £ 6,597 26,046 |
| 32,643 |
The collection and allocation of subscriptions is controlled by the Charities Aid Foundation.
The amount shown for subscriptions represents only the amounts allocated directly to the Fund. Amounts collected and allocated to the Convalescent Home, the Gurney Fund for Police Orphans and the Police Dependants Trust, which are settled directly by the Charities Aid Foundation, are not reflected in these financial statements.
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Income from listed investments Bank interest received |
2025 £ 14,472 1,124 15,596 |
2024 £ 13,409 1,295 |
| 14,704 |
4. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Portfolio management | 9,437 | 9,409 |
5. CHARITABLE ACTIVITIES COSTS
| Grant funding of Direct activities Costs (see (see note note 6) 7) £ £ Donations and gifts 8,200 - Grants payable - 35,389 Support costs - - 8,200 35,389 |
Support costs £ - 60 6,007 6,067 |
Totals £ 8,200 35,449 6,007 |
|---|---|---|
| 49,656 |
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ESSEX POLICE FORCE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
Donations and gifts of £8,200 (2024 - £8,600) were made to widows in the year.
7. GRANTS PAYABLE
| Grants payable The total grants paid to individuals during the year was as follows: Police officers Non serving officers |
2025 £ 35,389 2025 £ 34,889 500 35,389 |
2024 £ 65,453 |
|---|---|---|
| 2024 £ 62,453 3,000 |
||
| 65,453 |
A total of 41 (2024- 55) grants were made to individuals in the year.
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
9. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 April 2024 | 642,914 |
| Additions | 324,033 |
| Disposals | (277,102) |
| Revaluations | (9,101) |
| At 31 March 2025 | 680,744 |
| NET BOOK VALUE | |
| At 31 March 2025 | 680,744 |
| At 31 March 2024 | 642,914 |
Investments held at the balance sheet date comprised of the following:
| Investments held at the balance sheet date comprised of the following: | ||
|---|---|---|
| Cost | Market value |
|
| £ | £ | |
| Debt and fixed interest | 230,648 | 233,826 |
| Equities | 391,006 | 390,361 |
| Alternative | 35,608 | 35,502 |
| Other | 37,136 | 21,055 |
| 694,398 | 680,744 | |
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ESSEX POLICE FORCE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. FIXED ASSET INVESTMENTS - continued
The fair value of fixed asset investments at the year end was £ 680,744 (2024 - £642,914).
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Owed by Charities Aid Foundation 11. CURRENT ASSET INVESTMENTS Deposits held with stockbrokers 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 13. MOVEMENT IN FUNDS At 1.4.24 £ Unrestricted funds General fund 781,600 TOTAL FUNDS 781,600 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 48,530 (59,093) TOTAL FUNDS 48,530 (59,093) Comparatives for movement in funds At 1.4.23 £ Unrestricted funds General fund 778,407 TOTAL FUNDS 778,407 |
2025 £ 6,304 2025 £ 28,821 2025 £ 3,721 Net movement in funds £ (19,664) (19,664) Gains and losses £ (9,101) (9,101) Net movement in funds £ 3,193 3,193 |
||
|---|---|---|---|
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ESSEX POLICE FORCE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 47,347 | (87,502) | 43,348 | 3,193 |
| TOTAL FUNDS | 47,347 | (87,502) | 43,348 | 3,193 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.23 £ 778,407 778,407 |
Net movement in funds £ (16,471) (16,471) |
At 31.3.25 £ 761,936 |
|---|---|---|---|
| 761,936 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 95,877 | (146,595) | 34,247 | (16,471) |
| TOTAL FUNDS | 95,877 | (146,595) | 34,247 | (16,471) |
14. OTHER FINANCIAL COMMITMENTS
The Fund occasionally commits to paying grants in instalments. The commitments not accrued as expenditure at the year end totalled £680 (2024 - £Nil).
15. RELATED PARTY DISCLOSURES
Subscription income is the Fund's share of voluntary contributions made by serving officers of Essex Police. It is not uncommon for a Police officer in receipt of grant support to have made or still be making voluntary contributions to the Fund. Any grant support to serving Police officers is made at the discretion of the General Committee, whether voluntary contributions are being made or not.
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