Annual Report and Financial Statements for the year ended **31st December 2022** **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 3) Hon. Treasurer Dave Stott 4) Hon. Secretary Steven Boyd - 5) Trustee & Grants Manager John Fallon - 6) Trustee (Marketing) Gwenaelle Deloux - 7) Trustee Nigel Green (Appointed 21 March 2022) 8) Trustee 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 employees:|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 2022** 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. 19 grants were made in 2022 totaling £22,785. In 2022 the Trust did not receive any applications for Youth Bursaries, although this is still being strongly promoted with RVS and the Trust anticipates receiving applications in the future. Our Trustee John Fallon continues to manage all of our grant applications. 2022 was another very challenging year for everyone, with Covid-19 still present, albeit not affecting people’s lives so much now that the vaccine programme has made its impact. However, the journey back to normality for many people is still on-going with many having to change their way of working or volunteering. The current economic situation is also affecting staff and volunteers, and the Trust is open to receiving applications for grants to assist people through this very difficult time. 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 2023 to ensure we reach the widest possible audience. Other Trustees are also assisting Gwen with posting stories and information. The transfer of our banking arrangements to CAF (Charities Aid Foundation) is now complete and we are receiving a far better service from them than from our previous high street bank. 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 solid returns in 2022, despite the economic situation. 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. WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk 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. This is my last report as Chair of the Trust. After 30 years with WRVS/RVS and 13 with the Benevolent Trust (7 as Chair) the time has come to step aside and hand over the role. The Trustees have decided to appoint Trustee Steven Boyd as their new Chair, and I am confident that he will be very successful in his new role. I wish the Trust every success going forward, and I know that it is in very safe, and experienced, hands. The Trust is looking forward to 2023 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 Chair – WRVS Benevolent Trust March 2023 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 2022** In total, across 2022 there were 21 grants awarded totalling £26,130. Of those, 2 were not progressed due to lack of responses and/or engagement from the recipient. The final amounts awarded were £22,776.23. Please see below for a full breakdown of each grant, with additional comments and notes were required: |**Recipient**|**Method**|**Paid**| |---|---|---| |S|Grant|£328| |Y|Grant|£380| |A|Grant|£1,919.95| |C|Grant|£319.99| |A|Grant|£2,690| |S|Grant|£341| |K|Grant|£3,964| |C|Grant|£1,859| |D|Grant|£1,378| |J|Grant|£1,500| |K|Grant|£600| |E|Grant|£418| |K|Grant|£2,187.99| |J|Grant|£1,477| |E|Grant|£1,254| |J|Grant|£713| |M|Grant|£223| |K|Grant|£1,232| |**Total**||**£22,785.22**| In addition, there was an additional £8,000 awarded in relation to grants and awards from 2021. In relation to additional expenditure, please see below for a breakdown: Trustee Expenses- £5,130.59 Charity Fees£600 Bank Charges£96 Internet Services£198.23 PO Box£378 Total- **£6,402.82** WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk In terms of income, there was a total amount of **£34,836.66** which can be split into the following categories: Rathbones- £32,896.07 Donations£5 HSBC£1917.51 Returned£15 Interest£3.08 As of 30[th] December 2022, the balances of our accounts are: CAF Bank£9,005.30 Rathbones- £1,212,946 **Total£1,221,951.30** Reviewed financial controls during the year: 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 WRVS BENEVOLENT TRusr Balance Sheet 31 December 2022 CURRENT A55ETS Openlng balance l January 2021 £11357.58 Income less out8oin85 £2352.28 C1051ng balance on 31° December 2021 £￿￿5.30 Represented by: Cash In CAF 8ank £9W5.30 Statement prepared by Dave Stott Audltors Report In my opinion. these financial statements give a true and fair view of the affairs of the Benevolent Trust for the year ending 31 December 2022 and of the balance sheet as of that date. Paul Hewitt 43 The Avenue Prestatyn LL19 9RD Ja.f25 Registeied chaiily numbei 261931 PO Box 769. CheS￿rtIeld. S40 9NY E-mail." enouiry@wfvsbt.org.uk Website." wWw.wrvsbt.org.uk ## **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 the 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