## **WRVS Benevolent Trust** ## Annual Report and Financial Statements ## for the year ended **31st December 2024** **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 2024 were: - 1) Chair Steven Boyd 2) Vice Chair Christopher Digby 3) Hon. Treasurer Dave Stott 4) Trustee & Grants Manager John Fallon 5) Trustee (Marketing) Gwenaelle Deloux 6) Trustee Nigel Green 7) Trustee Trevena Playle 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 unpaid. There are 3 meetings a year; one of which is also the AGM. Communication between the trustees, outside of meetings, occurs via group email, telephone conversations, online meetings and occasional 1:1 communication as situations require this. 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 ## **2024 - Report from our Chair - Steven Boyd** ## Strengthening I am writing this review of 2024 in the week after International Women's Day in March 2025. It’s times like this when we can look back to the strong foundations laid by the inspirational leaders that helped set up the WRVS Benevolent Trust. There’s two dates that are important to us leading from these forward-thinking women and we are either 71 years old or about to go into early retirement in our 55th year. In 1953, 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. That would make us 71 years young and in human terms securely in our retirement years. The Benevolent Trust as we know it today however, was signed on 16th November 1970 with the sum of Ten Thousand Pounds, with seven trustees. This would mean we are going into our 55th year and like humans in the UK doing the same thinking about our options to access early retirement….or not! These 7 inspirational women 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. ## **WRVS Benevolent Trust is NOT thinking about retiring. In fact we are in good financial health and intend to be here for the generations of WRVS/Royal Voluntary Service Volunteers to come.** I was fortunate to have been at St Paul’s Cathedral with my other WRVS colleagues in 2013 when the change of name from WRVS to Royal Voluntary Service was confirmed. This was both to ensure that the name of the charity remained reflective of the people the charity supported and the more diverse nature of its employee and volunteer workforces. We have had several Trustees over the many years of our existence. One of our current volunteers, John Fallon, becomes one of our longest serving volunteers for the WRVS Benevolent; but he will have a long time to serve to reach our next longest serving volunteer; Kathleen Halpin CBE - who served for 25 years!! We welcomed a new Trustee: Trevena Playle joined the WRVS Benevolent Trust volunteer board meetings in 2024 and we look forward to new appointments into the future from similarly motivated individuals. WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk Our Portfolio of funds is well managed this fund remains strong for future generations despite the lingering remains of the impact of covid and the turmoil caused by international events. As we look back on 2024, we notice that we still provide real practical help just as we did on those early days. We remained innovative introducing a time limited Winter Grant running from 2024 into 2025. We received applications for grants and have approved most of them but yet could provide to more. We remain committed to implementing the financial support just as our Constitution guides us; providing 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 links with Royal Voluntary Service. 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 as we strengthen. Steven Boyd Chair – WRVS Benevolent Trust March 2025 WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk ## **WRVS Benevolent Trust – 2024 Treasurer’s Report** After a slow start in the first quarter of the year, there were a steady stream of applications throughout the remainder of the year. Please see below for more detail of those which have been approved and/or processed. The final amount awarded throughout the year was £15,447.55, only slightly lower than 2023 (£16,092.12), despite the slow start to the year. The Treasurer uses financial analysis and information to record the breakdown of how the expenditure is broken down across each expenditure line for the 2024 financial year. In relation to income the following has been received |Rathbones -|£45,511.53| |---|---| |Donations-|£124.44 (give as you live 20 and 97, FP Dean Bros 7.44)| |Interest-|£420.91| |Returned Funds-|£90 (AM Grant and issues with items resulting in refund)| |**Total**|**£46,056.88**| 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 balances of our accounts on 31[st] Dec 2024 are: **David Stott** …………………………… Dave Stott Honorary Treasurer March 2025 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 TRUST Balance Sheet as of 315t December 2024 CURRENT ASSETS Opening balance I" January 2024 Income less outgoings Closing balance 31 December 2024 £196,649.51 £24,689.98 £221,339.49 Represented by: Cash in Bank £221,339.49 ststement prepared by Dave Stott May 2025 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 2024 and of the balance sheet as of that date. Paul Hewitt 43 The Avenue Prestatyn LL19 9RD 21 0723 ## **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 lack of agreement between Trustees on approving 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 all payments are tracked within our bank account for all applications and whether paying the supplier or not. Where online bank or card 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** WRVS Benevolent Trust Registered charity number 261931 PO Box 769, Chesterfield, S40 9NY E-mail: enquiry@wrvsbt.org.uk Website: www.wrvsbt.org.uk 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** 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