Ch•rlty reql•trJtlon number 261261 ST. PANCRAS IhELFARE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ST. PANCRAS WELFARE TRUST Report and accounts Conlents Pag• Legal and •JministraiNe inf(ymatK IThle￿n￿￿t èxaminers reFK*t 10 11 Note5 to the ffina￿4al statements 12-15 ST. PANCRAS WELFARE TRUST Legal and adminstrative inforrnation Charkth (Chairl J• Fra Clar8 H￿88 Nomln•U¥•. London Bornu¥h ofC•md•n ¢)k. Nwm Aji Clk. RI￿a￿ Cott . Jenny He￿Well Ex<)ffi¢lo Trnstw•• Ch¥ltynurnt 261261 Prfnclpal adthws 212 EverShc￿ Slr8et NWI 1BD P O Box 51764 LoTrJon NW1 1EA Indynd•nt •xarnlnar¥ lrnagitax Ltd 38 H1LbJryA¥￿uo HA3 8EW Bank•rn P.O&)x101 M604EP CCLA 1 Angel Lane Lorhy EC4R IAB ST. PANCRAS WELFARE TRUST Report of the Trustees For tho year ended 31 March 2024 Thè St Panw WeK4r¢ Tnjsl is umbreNa nam• for thariliès •stablsh&J by a scheme of Ihe Charity C(xnmissicffiers in 1971, namdy the St Panrxas Rdief in Need Charity and the St Pencsa5 Rdlef in Sic*ness Charity. The hist￿ of the tharilable ac1]￿ty gces ba& as far as the 161h ¢entury when Kentish Try•¥n bwefadry Ekarv Palm¢r made a trAquest that still funds sryne of the 8ctiMbes of lh8 Trust today. Th8 TWSL or IL8 pr8decessors. have been making ants to Indi￿du￿$ ￿ Ihe area of b8fb8fft hundT8ds of yaars. The obi'ect of Ihe Trust i8 to di8lrilxrte availptrAe tUWKls to residents in the area of benefit who are in condiDons of need, hardshp and distress. are si(*. cwvalescent. diS￿ed. handicapped or infimi. The area of benefft is the lornier MetrcOilan B￿gh of St Pancras. vlich is a large ama the LG￿dCffl 8￿h of Camd•n. Ind￿lIng m8ny w8rd$ th high levels of deprivats"L￿. Gowrn•nce Under Ihe Ktherne of the Charty C(xnmisswrs in 1971. (modified 20111. the charity shall have 11 Trustees. One sham be the may￿ of the London Borryjgh of Camden, three shall nominative Tnjstees aFwnted by the Camden Ccyjnul, not necessarity Councimors, for a ￿rI0￿ of four years, and seven shall be cwlabve Trustees b￿.￿g Fetson$ rnsiding or ¢aryn9 on bjsiness in or near Ihe a￿a ol benefi( shall be apwntod forffiv8 y8ars. The day to day managemenl of the tharity is v•st8d in ts TnJst8•S. DurirvJ the yew. the Chaii. Cfvo Leverton, deatsj to step thy•m. a1lh￿gh hè remakn as a Injstse. The Dewty Chair, Charfotte Maizels. vrds appcmnted Chair at the trustee maeting in May 2023. Cjive Levertcm has been a dedicaled and hKJhly effer*ve Chair over nearty 25 years, guiding the Injsl thTcyJgh consideratAe growth and Consistent grant-making the residents IhrwghoLrt the pencxy. Unlike many other granl-makeTr. St Pancras Welfare Trust has never stc¢)ped rnaking gfants thrc*Jghout al ec(ffKrfnic orujmstances and dufiThJ the COVID pandemic of 202￿2021. Thè trust8ès Mar￿ a•￿'S rnlwon￿nt o wwntstion 81 the tFUStge meeling in IAay 2023. ST. PANCRAS WELFARE TRUST Rèport of the Trustees For the year ended 31 March 2024 REVIEW OF ACTivmES This year saw total grant-makirrfJ of £121.S67 was up from Ihe rxevk)us year as the Injstses gained pe￿ISs￿ frL¥n the CharFty Commi£sth ￿ move to a Tolal Retum Basis for the Investment funds. &nce The Trusts (Ca￿1 and Income) Arj 2013 was passed. charities have been able to draw-d￿￿ some of ￿1¥ acoJmui4ted capital to 8ugrn8nt their spending on Charits￿e grant-rnaking. Chjnng Ihe w March 2022-Marth 2023, the truslee5 derAded to vhthdraw £60.000 irwestrnents and use this fLV grdnt-makin9. in addilion to the regular Inccffi• p8ym8nrs ger￿ted by the undÈty"n9 invèslments.12023 grant-maknng £83.7651. The number of individual grants increased lo 660 (frcrfn 3291 and there we tsvo project grants during the to support the activrbes of a f(#)dbank aThJ a community centre kitchen. Th• Iwstees r&started the Chrislmas Vouchws prc*Jramme a￿1 donat*l ow £10.C(4J to suFp)rt am residents of hcffteless hostets in the area ol benefit at Christsnas. aSsifiCatK￿- Financial r from March 2023 to March 2024 exdudes Fwects to support a fcodbank and homdess reswjents at Chrthas.) Number Amount (£1 £2.870 £7.980 £39. 140 £10.841 £7,190 36.659 £104,680 %ofTot 3% Clolhin Floorin Fumrtu Other" School Uniform White Goc¥Js TOTAL & Shoes 22 139 41 37% 10% 133 415 35% 100 "inrJud8s small elecln'cals, moving costs, baby equipm￿[ heath, dehumidrflws. washirMJ mathines or fridges. which make a signrfunt thfference to the reupx8nts and their thildren. The feedback Irtffi agencaes ¢￿fi￿lS that a grnnt SPWT L*n make an W￿rn0￿$ impact for some of the most VLlnerable pecfAe in wr communty at a time of urgent noed. Grants ere wTharly made lo indM¢*Jals and the Trustees have 8 reSp￿￿l¥1fy to ￿lUr• Ihat the fvnds are spent in accL¥dance vith the terms crf the grant They have $￿ern5 in pla(x to ensure that the funds rnach the rwJht pewi and to venfy Ihat I￿ lunds ar8 sp8nt 8cciYdingly. Since some agenoes have reduced their flnance team5. thtr Trust pa￿ 9r8nts direclly io iThJiwdual bank acc￿nts in 62 casès. This is eorNenient for Ihe indNiduals concemed l)ut caNies some addrfirywl risk that the gwant may not be used ccvrecty. The Tnjst mibgaies this rlsk by seeking a58urances frryn Ihe Cthns CwrKJen to ¢)ynmunic4te to d￿$ ST. PANCRAS WELFARE TRUST Report of the Trustsos For tho yoar onded 31 March 2024 Granl-rn8knng to IndMdua15 by sp￿S￿ (wganisalJ(￿s for thè yè8r. % of Tolal grants awarded 27% 17% 13% 9% 5% Sponsor Wicant Grants Number of grants London Borou h of Camden Camden Carers Service Camden CAB Service Christmas Voud)ers lo Hostels A e UK CaTnden Camden & Islin ton NHS Trust Edith Neville Prirna School One HoLJsin Oldfield House Central&C8ry1 Somali Cultural Centre Pro ect rants Others 14or TOTAL £33.135 £20.146 £15,529 £10.308 £6 434 £5.400 £3.600 £3.400 £3.400 £2.950 £4,100 £12,865 £121,267 133 81 62 206 26 22 24 14 14 3% 3% 3% 18 51 660 anisations 11% 100°h This year six ¢xganisalions acctsJnted for 75% of granl-making acbvity by far tho largest rdab"onship b￿ng LOndL￿ 8(xwJh of Camden, as Sho￿ in the aLMJvÈ lable. Within wr work vrith L8 Camden have worked wlh 16 drfr4r￿l dwrtments kK*8d in dffteMt sites. Tho ¢x)Ilaborativg ¥￿th neighbcwrin9 Trusts in Holtom and B1WKnsi￿ry continues to grow %bith regular meelings to share knothlp. Audw Fryrester ￿tinUeS to prowde valuable ailmini*ative SUFwi to SPWT a Ireeb8n¢g ba￿$, in p4Jditbon to her I￿rk Sl Giles United, vknich is esFwalty apprgriated at Ih8 t¥Jsy of eath ffl{￿th wor to trustee grant A% part 0fth￿r to th8 htyjh cost of IT¥ing, th• LO￿lon B(wwgh ol Camden also gave th$ Tnjsl £5,OCKI restrided want-makirwJ in ts Primrose W8rd and this fvnd was used to support wjlnerable residents, mainty those in su￿￿￿ aco)mmc4Jation, and to rebj￿iSh the communal area at Rackstraw HcAtse, NW3. Each month ￿ make referrals to St Giles Unthj fc¢ famil*s th cyjr grant wll noi cover their needs in fijll. The trustees of St Gi￿$ Unrted have been *illiThJ to make discretic*)ary grants tside their area of benefil based Up￿ wsits and assessments by ts'r Grants offi￿r, and addlng ￿gnffiCanfy to the grants that St Pancras Weware TrLtst has rnade. Cm average. grants are being at kast tltyjbled by the generrjjs gJFWJrt ol St Giles United in thtst cases. ST. PANCRAS WELFARE TRUST Report of the Trusto•8 For Iho year ended 31 March 2024 TRUST FUND The rnan8gernent ol the Chariws investrnents on a day-tr￿aY basfis Is delegat8d lo its inVestrn￿l 8th8W8, cc￿ who wwe ap￿￿nted in 2016. Tr guidelirb85 and benchmarks th8t have been set ￿¢￿￿ are for Ix)th ¢8tMt8I9rCh￿ and ￿tL￿ne vAth medium risk. As Mentic#￿1 atw)v•, lh• trustees L*Jtain&J F￿nIS5￿ fmm the Charity ccrfnml￿l￿ to move to a Total Retum Ba&s for the inveslments. The Tnjstees conts.nued to review Ihe wfornanc* of the Trust Fund at th￿r r&3ular m8•Ongs 8nd ￿ reFKxts frryn CCLA The year to March 2024 saw relativoty 1(Mf investJnent retums frorn the fvnds. The manager5 ore ad￿ting a cauti￿5 apprtsach and rn￿l￿ng the 5rtuall￿ dosely as potenti81 economic damage results frLTh lh& war in ukn￿￿8 and the ongrAng glob81 eo)nrynic uncertainty after the pandemic and ris85 in irt8rest rat85. The Trustee5 are in wular contad MAJIAGEMENT Eknnor Stufdy conbnued in the Tc4e of Secretary to Ihe Tnjstees thrryjghout the year. AJI grants are now paid electrc¥)icalty. The Trustees C(￿111Ue to make grant thI￿.C￿S by email. tyjtside the formal rneets'ngs, in C￿er to 1eSF*￿d more quickly to apF4icanis. hjl deusicms are ratified at th6 next trustee ma•bn9. The Chair arKI Se(yetary ha￿ raknalised am Ihe recLYd5 to a set of arthNes and Ihe rwuired 7 ybars ol records for fin8nual tsx r8quiremsnts. Wè do rKrt dient Personal lnf¢)m8b.e￿ lor more Ihan onè ￿ar aN1 wr LY)line datsbasè does not hold détailèd dient pers￿al irrformati￿. The Tru51's w(xk is CLX)ducted the home