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2024-03-31-accounts

Charity Registration No. 282375

METROPOLITAN POLICE STAFF WELFARE FUND

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

METROPOLITAN POLICE STAFF WELFARE FUND

CONTENTS

Pages
Annual Report 1 to 6
Statement of Trustees’ Responsibilities 7
Independent Examiners’ Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11-13

METROPOLITAN POLICE STAFF WELFARE FUND

ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees have pleasure in presenting the Annual Report of the Metropolitan Police Staff Welfare Fund (“the Charity”) for the year ended 31 March 2024.

Reference and Administrative Information

Charity Name: Metropolitan Police Staff Welfare Fund
Charity Registration Number: 282375
Registered Office and Operational address: MPS Charities Section
2nd Floor (South)
Kilburn Police Station
38 Salusbury Road
London NW6 6LT
Trustees and Officers
Trustees
Steven Bramley (replaced by Brett Welch Nov 2024) Director of Legal Services, MPS
Clare Davies Chief People and Resources Officer, MPS
Paul Oliffe Chief Accountant (nominated by Director of Finance),
MPS
Viv Danvers Chair of the COMETS (MP Sports and Social
Association (‘MPSSA’))
Gareth Moore (appointed Nov 2024) Head of Safety, Health and Wellbeing, MPS
Val Harris Secretary of MET-TUS
Becky Mansfield Secretary of MET-TUS
Treasurer
James Morgan Senior Accountant, Corporate Finance, MPS
Secretary
Natasha Raj Charities Accountant, Corporate Finance, MPS

Independent Examiners

Bright Grahame Murray, Chartered Accountants, Emperor’s Gate, 114a Cromwell Road, Kensington, London SW7 4AG.

Bankers

Lloyds Bank, Pall Mall, 8/10 Waterloo Place, London SW1Y 4BE

Solicitors

Bircham Dyson Bell, 50 Broadway, London SW1H 0BL

1

METROPOLITAN POLICE STAFF WELFARE FUND

ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is constituted by a Declaration of Trust dated 26 March 1981 as amended by Charity Commission Schemes dated 26 September 1983 and 17 May 2007 and Resolutions of the Trustees dated 19 December 2007.

The charity has no property or employees.

Appointment of Trustees

Under the terms of the charity’s governing documents as amended by Charity Commission Scheme dated 17 May 2007 and the Trustees Resolution dated 12 March 2012, the Trustees shall be the persons holding the following offices:

*In the meeting of Trustees dated 13[th] January 2022 the Trustees agreed to accept a nominated representative on behalf of the Director of Finance to fulfil this Trustee post.

A quorum at a Trustee meeting is three.

Trustees Induction

Each new Trustee is a volunteer, appointed in accordance with the provisions of the charity’s governing document and is:

a) Invited to sign an “Appointment as Trustee and Declaration of Eligibility” form.

And provided with,

Members of the MPS staff represent “donated services” and assist in administrating the Charity on behalf of the Trustees. Payments from the Charity are made online using a dual-authorisation process from a list of approved signatories.

OBJECTIVES AND ACTIVITIES

The Charity aims to provide financial assistance to members of staff and past members of staff of the MPS, the Mayor’s Office for Policing and Crime (“MOPAC”), their families and dependants who are in need through poverty, hardship, or distress by providing grants and/or loans.

2

METROPOLITAN POLICE STAFF WELFARE FUND

ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance in 2023-24

Applications for financial assistance from current and former MPS staff, and MOPAC staff are considered by the Trustees for a grant or loan depending on the merits of each case. Figure 1 displays the amounts granted in 2023-24 compared to the previous five years. It should be noted that the number of applications may have no effect on the amounts granted through the year.

Grants ranged from £220 to £5,000 and loans from £565 to £1,200 in 2023-24. The range of all applications is detailed in Figure 2.

----- Start of picture text -----
Figure 1 – Total value of amounts awarded per year.
28,273
19,734
15,772 16,014
13,101
£
6,956
5,223
4,650 4,573
2,700 2,281 1,858
2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
i ALL Grants Loans
Figure 2–The range and distribution of amounts awarded in 2023/24.
A Pie Chart to Show the General Distribution of Funds to Applications Submitted
in 2023/24
----- End of picture text -----

----- Start of picture text -----
£0-£2000 (50%) £2001-£4000 (25%) £4001-£6000 (8%) £6001-£8000 (0%)
£8001-£10000 (0%) £10000+ (0%) Declined (17%) Withdrawn (0%)
----- End of picture text -----

3

METROPOLITAN POLICE STAFF WELFARE FUND

ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

In 2023/24 a total of 12 (14 in 2022/23) cases were reviewed by the Trustees. Of these 8 were awarded a grant, 2 were awarded a loan, 2 were declined, and 0 were withdrawn by the applicant. The reasons for beneficiaries submitting applications are wide ranging and a sample of these are detailed in Figure 3.

Figure 3 – Examples of awards made by the Charity.

Grant /
Loan /
Declined /
Withdrawn		 Member of
Staff /
Former
Member of
Staff /
Dependant		 Reason for Application Amount
Awarded
Grant
Grant
Grant
Grant
Grant
Loan
Declined
Declined		 Former
Member of
Staff
Member of
Staff
Member of
Staff
Member of
Staff
Member of
Staff
Member of
Staff
Member of
Staff
Former
Member of
Staff		 An application was made from a former member of staff
to purchase a reliable second-hand vehicle to assist with
disabled son.
An application was made by a member of staff for
assistance towards two month’s rent, Council Tax, water
and electricity bills.
An application was made by a member of staff for
assistance with funeral expenses.
An application was made by a member of staff for
assistance with short term accommodation costs.
A member of staff required assistance towards a deposit
on long term accommodation.
A member of staff made an application for assistance
towards essential furniture and removals costs.
A retired member of staff applied for support to buy
reliable second hand car. Trustees declined to assist as
there was no evidence of financial hardship.
Application from a former member of staff for assistance
towards a family holiday on medical grounds. The
Trustees declined to assist as there was no evidence of
financial hardship.		 £1,150.00
£1,615.66
£2,500.00
£1,985.80
£2,000.00
£1,200.00
-
-

4

METROPOLITAN POLICE STAFF WELFARE FUND

ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

Public Benefit

The Trustees confirm that they have complied with their duty and paid due regard to the guidance on public benefit published by the charity commission in exercising their powers and duties.

The charitable purpose of the MPBF was for “the promotion of the efficiency of the armed forces of the Crown, or the efficiency of the police, fire and rescue services or ambulance services” as described by the Charity Commission.

Under the principles of public benefit the aims of the charity were for a section of the public, the relief of members of staff and past members of staff of the MPS, the Mayor’s Office for Policing and Crime (“MOPAC”), their families and dependants who are in need through poverty, hardship, or distress by providing grants and/or loans, via grants and/or loans; thereby promoting the efficiency of the police service was to the benefit of the general public as a whole. The MPS operates an equal opportunities policy.

Trustees do not envision any of their awards being to the detriment of other members of the public but will bear this in mind when making awards.

Exposure to risk

The Trustees are confident that there are no major risks to which the charity is exposed that have not already been mitigated against. All new Trustees have signed the “Appointment as Trustee and Declaration of Eligibility” form to declare not only their acceptance in becoming a Trustee, but also to declare that he/she knows of no legal reason why he/she should be disbarred from acting as a trustee.

FINANCIAL REVIEW

Reserves Policy

The income of the Charity mainly derives from the capitation grant from MOPAC, contributions from MPS staff and interest receivable on the Charity’s deposit fund and bank balances. The Trustees policy is to maintain a deposit fund of sufficient size to ensure that the fund can meet its expenditure on grants and loans to serving and former staff members and allowable expenses in connection with the running of the Charity for several years going forward should there be any risk to its sources of income. All the reserves of the Charity are held as unrestricted funds.

Investment Policy

The Trustees’ investment policy is to adopt a strategy with minimal risk of capital loss. Funds should be available for drawing down either without notice or with short notice and placed with secure financial institutions. The Trustees do not seek to accumulate capital, but apply the capital for use of the beneficiaries as and when required. Having regard to the intention that funds should be placed on deposit with secure financial institutions, and to the circumstances of the Charity, there is no need for diversification of investments.

5

METROPOLITAN POLICE STAFF WELFARE FUND

ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

The value of the fund from 1 April 2020 to 31 March 2024 (3 year period) is shown in figure 4 below to allow comparisons of income and expenditure over that period.

Figure 4 – Value of the Charity over the last 3 financial years.

2023-24
£		 2022-23
£		 2021-22
£
Incoming Resources
Resources Expended
Net surplus/(deficit)
Balance brought forward
Fund Balance
Fixed assets and investments
Net Current Assets
Net Assets		 29,988
27,314
2,674
224,196
226,870
0
226,870
226,870		 23,550
24,154
(604)
224,800
224,196
0
224,196
224,196		 20,477
26,504
(6,027)
230,827
224,800
0
224,800
224,800

Future Aims and Objectives

The Trustees are committed to continuing to provide financial assistance to members of staff and past members of staff of the MPS, the Mayor’s Office for Policing and Crime (“MOPAC”), their families and dependants who are in need through poverty, hardship, or distress by providing grants and/or loans where possible under the guidance of the governing document to the best of their abilities for future years.

Trustee: Brett Welch

Trustee: Paul Oliffe

Approved on: 15[th] Jan 2025

6

METROPOLITAN POLICE STAFF WELFARE FUND

STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:-

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, and having due regard to the guidance on public benefit published by the Commission in exercising their powers or duties.

The trustees confirm that so far as they are aware, there is no relevant information of which the charity’s independent examiner is unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.

7

METROPOLITAN POLICE STAFF WELFARE FUND

INDEPENDENT EXAMINER'S REPORT

TO THE RESPONSIBILITIES OF THE TRUSTEES OF METROPOLITAN POLICE STAFF WELFARE FUND FOR THE YEAR ENDED 31 MARCH 2024

I report to the Responsibilities of the Trustees on my examination of the financial statements of Metropolitan Police Staff Welfare Fund (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Responsibilities of the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements to be reached.

Paul Davis FCA Independent Examiner Bright Grahame Murray Emperor’s Gate 114a Cromwell Road Kensington London SW7 4AG

Date:

8

METROPOLITAN POLICE STAFF WELFARE FUND

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND EXPENDITURE
Incoming resources:-
Contributions from staff
Interest receivable
Sundry donations
MOPAC capitation
Donated services
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Cost of charitable activities:
Grants to staff
Cost of generating funds:
Charity Aid Foundation administration costs
Governance costs:-
Independent Examiner’s fee
Bank charges
Indemnity insurance
Bad debt expense
Cost of donated services
TOTAL RESOURCES EXPENDED
NET SURPLUS/(DEFICIT) FOR THE YEAR
Unrestricted fund brought forward
UNRESTRICTED FUND CARRIED FORWARD		 2024
£
1,786
8,578
-
11,520
8
,104
29,988
16,014
26
1,200
60
1,910
-
8
,104
11,274
27,314
2,674
224
,196
226,870
 ___ 2023
£
2,128
3,002
119
10,960
7
,341
23,550
13,101
21
1,200
76
1,731
684
7
,341
11,032
24,154
(604)
224
,800
224,196
__		 2023
£
2,128
3,002
119
10,960
7
,341
23,550
13,101
21
1,200
76
1,731
684
7
,341
11,032
24,154
(604)
224
,800
224,196
__
224,196
_____

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The attached notes 1 to 9 form part of these accounts.

9

METROPOLITAN POLICE STAFF WELFARE FUND

BALANCE SHEET AT 31 MARCH 2024

Notes
CURRENT ASSETS
Welfare loans
2
Debtors
3
Charities Deposit Fund
Bank and cash balances
4
CURRENT LIABILITIES
Creditors: amounts falling due within one year
5
NET ASSETS
Represented by:
UNRESTRICTED FUND		 2024
£
4,075
1,178
175,251
47
,568
228,072
1
,202
226,870
_
226,870
 2023
£
5,193
12,207
167,127
40
,873
225,400
1
,204
224,196
___
224,196
 2023
£
5,193
12,207
167,127
40
,873
225,400
1
,204
224,196
___
224,196
225,400
1
,204
224,196
_____
224,196
____

The financial statements were approved by the Trustees on 15[th] Jan 2025………….

Trustee: Brett Welch Trustee: Paul Oliffe Approved on: 15[th] Jan 2025

The attached notes 1 to 9 form part of these accounts.

10

METROPOLITAN POLICE STAFF WELFARE FUND

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. PRINCIPAL ACCOUNTING POLICIES

(a) Basis of preparation of accounts

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 May 2015. The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. With respect to the next reporting period, the most significant areas of uncertainty that affect the carrying value of assets held by the Charity are the level of investment return and the performance of investment markets.

(b) Incoming resources

(i) Donations

These represent voluntary donations received from members of the Metropolitan Police Staff. With effect from November 2003, donations have been received gross under the Give As You Earn Scheme. Donations are included in the Statement of Financial Activities when received.

(ii) MOPAC Capitation

This represents an amount of £1 for each serving member of police staff received from the Mayor’s Office for Policing and Crime (“MOPAC”).

(c) Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on a paid basis and has been classified under headings that aggregate all costs related to the category.

11

METROPOLITAN POLICE STAFF WELFARE FUND

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. PRINCIPAL ACCOUNTING POLICIES (continued)

(d) Cost of charitable activities

(i) Grants

Grants are made to provide financial assistance to members and past members of the MPS and MOPAC and their families and dependents. Grants are included in the Statement of Financial Activities on a paid basis.

(e) Governance costs

Governance costs include the costs of governance arrangements that relate to the general running of the charity. These activities provide the governance infrastructure that allows the charity to operate and to generate the information required for public accountability.

(i) Donated services

The administration and operation of the fund is carried out by members of the MPS Finance Services’ Charities and Special Payments Section. An appropriate element of the salary cost of those individuals, together with their accommodation and overhead costs, is reflected within the Statement of Financial Activities.

2.

WELFARE LOANS
Balance at start of year
Loans made during the year
Repayments (including loans converted to grants)
Balance at end of year		 2024
£
5,193
1,858
(2
,976)
4,075

______		 2023
£
4,486
4,573
(3
,866)
5,193

______		 2023
£
4,486
4,573
(3
,866)
5,193

______
5,193
____

The balance at 31 March 2024 includes £1,876, which is recoverable in more than one year (2023: £2,463).

3.
DEBTORS
Amounts due from Charities Aid Foundation
MOPAC capitation
Prepayments		 2024
£
157
-
1
,021
1,178

______		 2023
£
359
10,960
888
12,207
_

12

METROPOLITAN POLICE STAFF WELFARE FUND

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

4.
BANK AND CASH BALANCES
Lloyds Bank Plc treasurers account
5.
CREDITORS
Accruals		 2024
£
47
,568
47,568
_____
2024
£
1,202
 2023
£
40
,873
40,873
_
2023
£
1,204
_
_

6. TAXATION

No taxation is payable in respect of the Charity’s activities as a result of its charitable status.

7. MANAGEMENT AND ADMINISTRATION

The Charity has no full time employees and no remuneration was paid, directly or indirectly, and no expenses reimbursed to Trustees.

Unrestricted Unrestricted
Funds Funds
2024 2023
8. ANALYSIS OF NET ASSETS BETWEEN FUNDS £ £
Current assets 228,072 225,400
Current liabilities (1
,202)		 (1
,204)
226,870
_		 224,196
___

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party either this year or last year.

13