2021-12-31-accounts - WRVS Benevolent Trust

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Annual Report and

Financial Statements

for the year ended 31st December 2021

WRVS Benevolent Trust Charity Number - 261931

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

CONTENTS

HISTORY
TRUSTEES
OPERATING INFORMATION
CHAIR’S REPORT
TREASURERS ANNUAL REPORT
AUDITOR CERTIFICATE
INVESTMENT POLICY
SAFEGUARDING POLICY
CONFLICT OF INTEREST POLICY
HANDLING COMPLAINTS POLICY
PAYING STAFF POLICY
RETENTION OF INCOME POLICY
GRANT GUIDELINES POLICY

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

HISTORY

There was a Declaration of Trust, dated 22nd September 1953, when Stella Dowager Marchioness of Reading GBE, gave £1000 to WVS Trustees Ltd to create a fund for charitable purposes and thereby created the WVS Trust.

The Trust as we know it, was signed on 16[th] November 1970 in the sum of Ten Thousand Pounds, with seven trustees. These were Lady Reading GBE, Frances Clode CBE, Lady Margaret Charles OBE, Alice Crawford Johnston CBE, Doreen Harris OBE, Kathleen Halpin CBE and Enid Cubitt MBE.

Following the re-branding of the Women’s Royal Voluntary Service, (or W.R.V.S.) in 2004, it was agreed that the Trust should be known as the WRVS Benevolent Trust.

Charitable Objects

Excerpt taken from the Trust deed:

“To pay or apply the trust at such time or times and in any such manner as the trustees shall in their own absolute discretion think fit for the relief, comfort, support and benefit of such persons who are or who have at any time been members of the organisation now known as Women's Royal Voluntary Service either in Great Britain or elsewhere in the world of limited means who for any reason become in need of financial or some other form of help and assistance”

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

TRUSTEES

There may be no less than three and no more than nine trustees.

The terms of office of trustees were originally 3 years with a further 3 years. After concerns over losing trustees with key skills or abilities it was decided to make the offices (Chair, Treasurer and Secretary) to be in perpetuity and annually re-appointed.

It was further agreed to remove the term limitation and move to annual re-appointments whilst operating a skills matrix to ensure the trust is not hindered by losing key trustees and can also identify skills gaps when trustees retire.

Trustees for the purpose of Charity law for the period ending 31 December 2021 were:

1) Chair Gilli Galloway 2) Vice Chair Christopher Digby (From 17.03.21) Vice Chair Carol Milford (Resigned from March 2021) 3) Hon. Treasurer Dave Stott (Appointed 17.03.21) Hon Treasurer Maureen Hudson (Resigned from March 2021) 4) Hon. Secretary Steven Boyd 5) Trustee & Grants Manager John Fallon 6) Trustee (Marketing) Gwenaelle Deloux Trustee Christine Graham (Resigned from March 2021) 7) Trustee Shelagh Murray

All trustees have confirmed the following:

1) That information relating to trustee work can be found on the government website: https://www.gov.uk/government/organisations/charity-commission
2) That all trustees are satisfied that all eligibility checks are relevant and appropriate for all of the current and future trustees and that trustees are suitable to act as such
3) That no trustees have current or undisclosed criminal convictions, bankruptcies, IVA agreements, disqualifications from being a company director or trustee
4) All trustees are willing to act as a trustee of the WRVS Benevolent Trust
5) All trustees understand the purposes and rules set out in the governing trust deed
6) All trustees declare that the information provided to the Charities Commission is true, complete and correct
7) All trustees confirm that the WRVS Benevolent Trust funds are held securely in its own name with a bank or bank accounts in England or Wales
8) All trustees confirm that they will comply with their responsibilities as trustees and as set out in CC3 The Essential Trustee

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

OPERATING INFORMATION

The Trust is operated by the Trustees, all of whom are volunteers and un-paid. There are 3 meetings a year; one of which is also the AGM.

All communication between the trustees occurs via group email, with occasional 1 to 1 communication where needed.

John Fallon acts as the main contact for grant applications; ordinary and youth bursary as well as the main liaison when confirming volunteering with the Royal Voluntary Service.

Reported Information

Operating outside England and Wales: Yes; we receive applications from Scottish residents Number of volunteers: None Own or lease property: None Regulated by any regulators or registrars: None Received funding from central or local Gov.: None Receive funds from the public: Yes Recognised by HMRC: Yes; for gift aid

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

Chair’s Report 2021

Our charitable purpose is the relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantages.

We remain committed to promoting the availability of grants to past and present volunteers and staff of WVS/WRVS/Royal Voluntary Service. We continued to spread the word about the trust and to maintain the strong links with Royal Voluntary Service.

17 grants were made in 2021 totalling £41,302.91. Two youth bursaries were awarded totalling £4,000 (£1,500 remains to be paid on one as the university is being paid in £500 instalments).

John Fallon continues to manage all our grant applications, and to provide support to our Youth Bursary recipients. Our Youth Bursary scheme continues to support young Royal Voluntary Service volunteers to “Do something amazing” to further their personal or career development by participating in activities and study opportunities both at home and abroad. Opportunities for our young volunteers in 2021 were severely limited due to the pandemic and we look forward to new and exciting opportunities opening up for them this year.

2021 was another very challenging year for everyone, with Covid-19 continuing to infect large numbers of people, and new variants emerging. However, with the creation of vaccines the year ended on a more optimistic note.

Throughout the pandemic the Trust has continued to work as normal, holding our Trustee meetings on Zoom and reviewing and approving grant applications via email. Apart from missing the social interaction of being with my fellow Trustees, everything has worked well and we have been able to deliver an efficient service to our grant applicants.

Our social media presence has continued to a high standard, Gwen Deloux is ensuring that our publicity campaign maintains momentum and this will continue during 2022 to ensure we reach the widest possible audience. Other Trustees are also assisting Gwen with posting stories and information.

Dave Stott joined us this year as our new Honorary Treasurer. He has been busy transferring our banking to CAF (Charities Aid Foundation) and closing our accounts with HSBC. We are confident that we will receive a far better service from CAF as they are focused on banking services for charities.

Working relationships with Royal Voluntary Service continue to be strong. Gwen Deloux has established strong links with both the communications and volunteer management teams and these have proved very helpful and productive.

Our investment portfolio is being efficiently managed by Rathbones and we have seen continued

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

solid returns in 2021, despite the Covid-19 pandemic. David Blake from Rathbones (our fund manager) and Paul Ross from Landmark (our independent financial advisor) attend each Board meeting with a full report on performance and an overview of market projections. Our Honorary Treasurer works closely with them to ensure all financial matters are compliant.

The Trust could not do its work without the commitment and dedication of all the Trustees and I would like to thank them for their continued support.

We are looking forward to 2022 with optimism and determination, and to continuing to fulfill Lady Reading’s vision of helping WVS/WRVS/Royal Voluntary Service staff and volunteers in their time of need.

Gilli Galloway Gilli Galloway Chair – WRVS Benevolent Trust March 2022

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

TREASURERS ANNUAL REPORT FOR THE PERIOD ENDING 31 DECEMBER 2021

Consolidating the financial accounts for 2021 has taken longer than expected due to the following issues:

Transfer of treasurer management and responsibility in the middle of the year.
Opening/closure of new bank accounts and obtaining historical statements to consolidate and accurately audit accounts for whole of calendar year.

This has now been done and the following amendments can now be made to the previous trustee report of March 2022:

Total Income:	£49,059.65
Total Grants awarded for 2021:	£37,302.91
Other Expenditure and costs:	£6,502.53
Total Expenditure:	£43,805.44

There are outstanding grants totaling £4,000 that were not processed during the calendar year.

Please see below for a breakdown of income and expenditure throughout the calendar year.

Expenditure

----- Start of picture text -----
Transfer
to CAF
Social Charity Bank Internet Post Bank
Grants Media Trustee fees Charge Services Box Account
Total 37302.91 4374 1033.2 455 98.89 181.44 360 9000
Total
Expenditure 43805.44
----- End of picture text -----

Income

	Rathbones	Donations	Internal Transfer	Returned Funds
Total	46209.44	127.5	222.71	2500

			WRVS Benevolent Trust
			Registered charity number 261931
			PO Box 769, Chesterfield, S40 9NY
			E-mail:enquiry@wrvsbt.org.uk
			Website:www.wrvsbt.org.uk

Balance Sheet

Amount Carried Forward CAF Bank 11,357.58 Amount Carried Forward HSBC 1,934.71 Rathbones Investment Account 1,332,623 Total Assets 1,345,915.29

Reviewed financial controls during the year: Always Yes; annually at the AGM and at each meeting

David Stott

…………………………… David Stott Hon. Treasurer, WRVS Benevolent Trust September 2022

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

BENEVOLENT TRUST lJJpX¥)rt Cijf iiJd.*iAJr AUDITORS CERTIFICATE WRVS BENEVOLENT TRUST Balance Sheet as at 31st December 2021 CURRENT ASSETS Opening balance I" January 2021 Income less outgoings Closing balance at 31 December 2021 £8038.08 £5254.21 £13292.29 Represented by: Cash in CAF Bank £11357.58 Cash in HSBC Bank £1934.71 Statement prepared by Dave Stott March 2022 Auditors Report In my opinion, these financial ststements give a true and fair view of the affairs of the Benevolent Trust for the year ending 31 December 2021 and of the balance sheet as of that date. Paul Hewitt 43 The Avenue Prestatyn LL19 9RD 16.f 22

INVESTMENT POLICY

The Trustee’s investment policy is to use financial advisers to guide the Trustees on two main investment aims:

Maintain capital
Generate meaningful returns to pay grants

The Trustees have identified the need to use a financial adviser to provide safety and recourse on the stewardship of the Trust funds. In doing so, the actual investment strategy is then implemented by the Trust’s advisers in meeting the aims above.

The Trustee’s financial advisers (currently Paul Ross from Landmark Group and David Blake from Rathbones) attend at the beginning of each meeting to provide a financial overview and regularly liaise with the Trustee and Chair.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

SAFEGUARDING POLICY

At present the Trustees do not believe there is a need for a formal safeguarding policy.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

CONFLICT OF INTEREST POLICY

The trustees believe the only real conflict of interests that can arise relate to relationships with applicants. Where a relationship exists, the Trustee is to advise the board and unless extenuating circumstances suggest otherwise, they must refrain from voting or influencing the decision to avoid any potential actual or perceived conflict of interest. This must then also be noted on the minutes as being declared.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

HANDLING COMPLAINTS POLICY

All complaints to the Trust/Trustees will be acknowledged by the Chair in writing within a reasonable time; ideally within 5 days and advising the complainant that a full response will be issued within 30 days.

The Chair will then investigate the complaint with 2 Trustees and respond with a final response within 30 days.

The formal response should include reference to the Charities Commission.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

PAYING STAFF POLICY

The Trust does not have any employees. However, we may occasionally enter into services contracts.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

RETENTION OF INCOME POLICY

Given the Objects of this Charity, the Trustees recognise that, from time to time, the income in any one year can exceed the amount of grants that the Charity makes.

Each year the Trustees will consider training and other activities which it feels further supports the Objects in raising awareness of the Grants in a hope that this will continue to encourage applications to the Trust.

It is the Trustees’ intention to review the level of income against grants made on a yearly cycle, and any surplus at the end of that period will be at the Trustees discretion in how they use the surplus; which will normally be a) re-invested b) used for a specific purpose to benefit the Trust or c) given as a donation to a charity of the Trustees choice.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

GRANT GUIDELINES POLICY

General Applications

Due to the changing landscape of grant giving since the Trust was formed the Trustee Board has decided to adopt this Grant Guideline Policy, as a reference point should there be any disagreement between Trustees on agreeing grant applications. This will help protect the Trust against “precedents” and allow the guidelines to change over time.

It will also help new Trustees get up to speed more quickly and provide existing Trustees with the opportunity to review and shape the guidelines with their own experience.

Excerpt from the Trust document

“in any such manner as the Trustees shall in their own absolute discretion think fit for the relief comfort support and benefit of such persons who are or who have at any time been members of the organisation now known as Women’s Royal Voluntary Service either in Great Britain or elsewhere in the world of limited means who for any reason become in need of financial or some other form of help and assistance.”

Legal Advice

Ongoing legal advice will be sought as and when needed.

Criteria

The following is the main “criteria” that the Trustees have to follow to satisfy themselves when considering the appropriateness of the grant application:

1) Sufficient evidence that the applicant is/was a Member, staff, or volunteer of the WVS, WRVS or Royal Voluntary Service for at least 1 year
2) Limited means; in line with our guideline on financials*, then at Trustee discretion
3) Nature of claim should be for “relief, comfort, support or benefit”
4) All claims will be assessed on individual merit and at the Trustees sole discretion
5) Any conflicts of interest will be raised and all decisions are final
6) If a 50/50 situation occurs the Trustees agree to accept the Chair's final decision

*Guideline on financials Income: £20,000 per annum or less Savings: £16,000 or less

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

Income

However, when considering income we must also look at the expenditure and assess whether the expenditure is warranted and if there is still a net surplus each month we must consider this carefully. Income can be made up of any income whether salary, interest, pension, benefits or benefits in kind etc.

Amounts and Repetition of Grant

We may accept repeat applications to the Trust as each application is decided on its merit. However, the Trustees generally want to see at least 12 months between applications.

Receipts and Invoices

We may accept a claim on submission of a receipt if we would have paid the claim on invoice; i.e. providing the claim was to be accepted then the matter of receipt or invoice is mute. Usual due diligence will apply.

Grants will be considered for items purchased in the previous 12 months.

For audit perspective we have introduced the cheque receipt form for all applicants whether paying the supplier or not. Where automated bank payments are made we have a record of the transfer.

Care Home Costs/Care Home Top Ups

Whilst this is a socially and financially complicated area this does not change the way the Trust should be interpreted.

The Trust should only accept applications for grants where we can pay the Care Home direct. However, the Treasurer will need to make accurate financial forecasts to ensure any long-term payments can be met and that it does not present a problem for the Trust in awarding other grants.

All grants of this nature to be subject to review on an annual basis to ensure recipient is a) still alive; b) still in the same care home and c) still requires the same amount of support.

Payments Overseas

If any payments are made to individuals overseas, specific criteria may be necessary to comply with HMRC guidance for charities sending money overseas.

Taxation Position

In the case of repeated gifts, this may create a tax liability for the recipient and they will be responsible for declaring this to HMRC.

Conflict of Interest

If a Board member is related to, or otherwise has an interest in, a volunteer who has submitted a grant application, then the Board member should not be part of the decision-making process.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

Grant Application Process

General Grants

Application Form

The claimant will complete and submit the application form online. The Grant Manager (or other trustee where required) will process the application and ensure an initial acknowledgement is provided.

The Grant Manager (or other trustee where required) will forward the application to all Trustees asking for comments, ideally looking for an agreement in principle subject to any questions raised or information not received.

Confirmed WRVS/WRS/RVS connection

The Grant Manager (or other trustee where required) will carry out checks to help confirm the connection to the WRVS/WRS/RVS and will request further information from the claimant where necessary.

Supplier quote or estimate

The application form needs to be supported by at least two quotations or estimates for what is being claimed and the Grant Manager will check these with the providers where appropriate.

Invoice or receipt

The Grant Manager (or other trustee where required) will request these from the supplier where applicable and confirm their accuracy.

Payment

The Treasurer will make payment as agreed; preferably via bank transfer to that party.

Youth Bursary Grants

This grant area for the Trust was introduced in acknowledgement of generational changes and the wish to continue to fulfil Lady Reading's wishes.

The Trustees consider that by investing in the lives of the young volunteers in this specific way, the long-term commitment to volunteering with RVS is more likely.

Whilst the majority of points can be taken from the General Applications the specific points that relate to the Youth Bursary are as follows:

Marketing

Ahead of the March meeting, when the Trustees consider all Youth Bursary applications, marketing materials will be issued, in conjunction with the RVS, to draw interest and encourage applications. The marketing exercise will start in September each year.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk

It is at this stage that the content and application forms suggest that the Youth Bursary should be for “ doing something amazing ”; being the only lead we should offer the applicants.

The marketing material used, and on the website, will highlight examples of past Bursaries, such as school trips, studying medicine and educational courses. This allows the applicants to be flexible whilst hopefully imbuing the principle of what we are looking for.

Applicants

1) Applicants must be aged between 16 and 25 years at the time they will be undertaking the opportunity
2) Must have been volunteers for at least 50 hours, and have this confirmed by their project manager
3) Repeat applications year on year must prove continued volunteering hours

Youth Bursary

1) Each grant to be a maximum of £2,000 and within a total annual fund of £10,000 (subject to funds being available)
2) Preference is to pay the organisation that is coordinating/managing the opportunity
3) Similar events not funded by the Trust should not preclude a new application to the Trust
4) Repeat applications will be considered where clear development is apparent in the opportunity

Process

1) The Grant Manager (or other trustee where required) gathers and acknowledges the application ahead of the March meeting
2) A summary document of all applicants is produced by the Grant Manager and circulated ahead of the March meeting
3) At the March meeting the Grant Manager presents each application in full
4) At this stage the Trustees agree in principle/or not the application, not the amount
5) Once all applications have been presented the successful applicants are revisited and the Trustees agree the amount to be offered whether in full or part payment
6) The Grant Manager contacts the applicants to advise them of the outcome of their application
7) On-going the Grant Manager (or other trustee where required) will contact the successful applicants after their experience to ensure a case study is received. Case studies are then passed to the Marketing/Media Trustee for publication.

WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk