## **CITY OF WESTMINSTER CHARITABLE TRUST: TRUSTEES’ ANNUAL REPORT 2023/24** **Report of the Honorary Treasurer and Honorary Secretary** ## **Date: 20 December 2024** ## **1. Overview** - 1.1 The City of Westminster Charitable Trust was established in January 1987 for the purpose of allocating income received for charitable purposes directed wholly or mainly to the benefit of the City of Westminster or for charitable purposes in any other part of the world as the Trustees shall from time to time decide. - 1.2 The charity's annual report and accounts for the year ended 31 March 2024 have been prepared in accordance with the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland issued in July 2014. **Full Name of Charity:** City of Westminster Charitable Trust **Registration Number:** 296091 **Date of registration:** 20 January 1987 **Main communication address:** City of Westminster, Westminster City Hall, 64 Victoria Street, London, SW1E 6QP - 1.3 The Trustees comprise of members and officers of Westminster City Council. The current Trustees are: - Cllr Robert Rigby, Lord Mayor, Chair - Cllr Caroline Sargent - Cllr Paul Dimoldenberg - Cllr Nafsika Butler-Thalassis - Cllr Iman Less - Gerald Almeroth (Honorary Treasurer) - Parveen Akhtar (Honorary Secretary) - 1.4 Councillor Patricia McAllister became Mayor on 17[th] May 2023 and continued to be the mayor for the 2023-24 Financial Year. ‘The Lord Mayor’s Appeal Fund’ supports the Lord Mayor’s charity Westminster Befriend a Family. 1 - 1.5 Independent Examiner: Royal Borough of Kensington and Chelsea (RBKC) Internal Audit Service, 3[rd] Floor, Kensington Town Hall, Hornton Street, London, W8 7NX. ## **2. Financial Review** - 2.1 The Trust is made up of two separate funds, namely the Community Contribution Fund and the Lord Mayor’s Appeal Fund. This is the sixth financial year of the Community Contribution Scheme and like previous years, the account has been prepared on an accrual basis. - 2.2 This is also the sixth year for which a statement of cash flow (Table 3) has been prepared for the Trust. All large charities, donations above £500k, are required to produce a cashflow. Though not a requirement for this financial year, the cashflow has been included. - 2.3 As with the previous year, the total income of the charity in 2023/24 has exceeded the £25,000 threshold set by the Charity Commission, rendering the accounts subject to independent examination. This will be carried out by RBKC Internal Audit prior to the submission of the accounts in January 2025. ## **3. Lord Mayor’s Appeal Fund** - 3.1 The expenditure for the Lord Mayor’s appeal fund was nil in 2023/24, compared to £6,155 in 2022/23 comprised of grants made in-year. - 3.2 The total funds available within the Lord Mayor’s account as at 31 March 2024, which relates to more than one financial year, is £24,864 which will be disbursed as agreed by the trustees, to the chosen charities of the relevant Mayors in 2024/25. ## **4. Community Contribution Fund** - 4.1 The community contribution donations totalled £290,613 in 2023/24. This balance comprises £269,417 in-year community contributions and £21,196 in Gift Aid. - 4.2 The expenditure in 2023/24 on Board approved grant payments was £317,308. Expenditure on bank charges for statements and use of WorldPay / Bankline services was £1,151. - 4.3 Total fund available within the Community Contribution account for distribution as at 31/03/2024 is £374,183. - 4.4 Throughout the year monthly reconciliations are completed for the Community Contribution Fund against the bank account and agreed donations. This reconciliation process ensures that accurate record keeping is maintained throughout the year and supports the completion of the annual accounts. ## **5. Community Contribution Scheme Background** 2 - 5.1 Following a consultation with Band H properties between November and December 2017, the Westminster City Council Cabinet recommended to Council that a voluntary Community Contribution scheme be introduced. The scheme invites Band H council taxpayers to make a voluntary contribution to fund discretionary local services. - 5.2 The consultation also highlighted that a significant number of respondents wanted to be able to make their contribution as a charitable donation as well as direct it towards specific priorities. The Council recommended, and the Trustees of the charity have agreed, that any funds raised through the scheme should be paid into the charity, and should be used to support three priorities: - Extra support for people who find themselves sleeping on Westminster’s streets - Helping to tackle isolation and loneliness – not just amongst the elderly but across all age groups, including children - Helping young people – investing in youth support ## **6. Recommendation** - 6.1 That the Trustees approve the Annual Accounts and Annual Report 2023/24 for submission to the Charity Commission. 3 ## **CITY OF WESTMINSTER CHARITABLE TRUST: ANNUAL ACCOUNTS 2023/24** ## **Income and Expenditure – Table 1** 4 Balance Sheet - Table 2 crry OF WESTMINSTER CHARITABLE TRUST Balance Sheet 31 March 2024 31 March 2024 31 March 2023 31 March 2023 Lord Mayor's Communlty Appeal Fund Contributlons Fund Lord Mayovs Communlty Appeal Fund Contributlons Fund Current assets Debtor- Westminster City Council Contribution to Independent Examiner'5 Fee and Bank Charges Debtor- Gift Aid Cash at bank and in hand 1,757 6,266 374,183 2,275 44,254 362,343 24,863.65 24,864 Total current assets 24,864 382,206 24,864 408,872 Creditors.. amounts falling due within one year Council Tax paid into incorrect account Expense accrual- Independent Examiner's Fee 11,1591 16061 11,1591 15831 Total L5ablllty 11,7651 11,7421 Net current asset511liabilities1 24,864 380,442 24,864 407,131 Total assets less current liabilities 24.864 380,442 24,864 407,131 Creditors.. amounts fallin8 due after one year Net asset5 1 Iliabilitiesl 24,864 380.442 24,864 407.131 Funds of the Charity 124,8641 1380,4421 124,8641 1407,1311 Cashflow - Table 3 City of Westminster Charitable Trust 2023124 2022123 Cash flow5 from operating activities Operating profit/llossl Interest / Bank Charges paid Depreciation 11 ncrease}/Decrease in receivables and debtors Increase/{Decreasel in paya bles and creditors Net cash inflow/(outflow) generated from operating activities 125,5441 11,1511 11,315) (1,692) 38,506 23 {32,923} (2,353) (38,283} 11,834 Cash flows from investing artivities Purchases of non current assets Interest received Net cash flows from investing activities Cash flows from financing activities Net Idecrease)/increase in cash and cash equivalents 11,840 138,283) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 387,207 399,047 425,490 387,207 Balance Sheet 399,047 387,207 Independent examiner's report to the trustees of the City of Westminster Charitsble Trust (registered charity number 296091) I report to the charity trustees on my examination of the accounts of the City of Westminster Charitable Trust for the year ended 31 st March 2024. Responsibilities and basis of report As the trustees of the City of Westminster Charitable Trust (the Trust), it is your responsibility to ensure the preparation of accounts is in accordance with the requirements of the Charities Act 2011 ('the Act,) and you are satisfied that the accounts are not required by charity law to be audited and have chosen instead to have an independent examination. An independent examination does not involve gathering all the evidence, which is normally required in an audit. and does not cover all of the matters that an auditor considers when giving their opinion on the accounts. The planning and conduct of an audit go beyond the limited assuran￿ that an independent examination can provide. Consequently, l express no opinion as to whether the consolidated accounts presented are 'true and fair, and my report is limited to those specific matters set out in the independent examiner's statement. All examiners must follow the Directions below. The Directions have legal force as they are made by the Commission under section 145(5) b of the 2011 Act which places three specific duties on the examiner: They must carry out the independent examination in accordance with the Commission's Directions. They must make their independent examiner's report to the charity's trustees. They must consider if matters of material significance have come to their attention during the independent examination which give rise to a legal duty to report direct to the Commission Independent examiner's ststement Since the Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Chartered Institute of Public Finance and Accountancy (CIPFA), which is one of the listed bodies. I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe: Accounting records, with respect to the Trust, were not kept as required. The accounts do not accord with those records. The accounts do not comply with the applicable requirements concerning the fomi and content of accounts. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Signed.. Name: Moira Mackie Chartered Institute of Public Finance and Accountancy (CIPFA) Date: This report is prepared solely for the use of the Trustees of the City of Westminster Charitable Trust. Details may be made available to specified external agencies, including external auditors, but otherwise the report should not be quoted or referred to in whole or in part without prior consent. No responsibility to any third party is accepted as Ihe report has not been prepared, and is not intended for any other purpose.