3ENTINCK AAINERS, WIELFARE TR FINANCIAL STATEIRENTS AND REP FOR HE YEAR DED 31 DECEIMBER CONTENTS Legal and Admini51ralivo Infomiation Trustees, Report Independent Examiner's R6POrt Statement of Financl81 Activities Balance Sh8al Notes lo th8 Accounts 8-10 BENTINCK MINERS. WELFARE TRUST (REGISTERED CHARITY NUMBER 522233} FINANCIAL STATEMENTS AND REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 BENTINCK MINERS. WELFARE TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023 Register8d Charity Number 522233 Addrass of Charity 20 Sutton Road Kirkby in Ashfield Nottlngham NG17 8GS Trustees D Whitlon K Crumplon J Taylor (resigned 4 September 20231 D V 8onnert FCA D V Newton Bankers HSBG 1 Leeming Street Mansfield Notlinghamshir8 NG18 1LU Indep8nd8nt Examiner J Wallagè FCA CISWO ITradingl Ltd The Old Rectory Rectory Drlve Whislon Rotherham S60 4JG NCK IAI RE TRUSY REPO E TRUSTEES FOR THE YEAR ENDED 31 DECEIMBER 2023 The IrusTaéS presènt thelr r8POrt along with tho fillancl81 staternants of tho charity for the year ended 31 Decèmber 2023. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts which can be found on page 8. Constltutlon and Objocts The charity Is constituted by a Scheme dated 21 June 2005 and 15 register8d with the Charity Comfflission under th8 number 522233. The object of the charity is lo provide an Inslllute and recreallon ground for thg bgneflt of Ihe Inhabitants of the araa in and around Ihe vi15age of B8nlinek. parb'cularly (bul not excluslvaly) those who arè m8mbars of th¢ mlnlng communlty. The trustees have ref9rr9d to tha guldanc8 giv8n by the Charlty Commlssion on publ1¢ bonèfil when r8vlewing the charity's alms and objeGlives and delalls of the acllvlfjes that have taken place durlng the year can be found later in Ihls report. Organlsatlonal StTUGturg The trusteès who have s8rv8d the chartty durlng the year are shown on page 1. Th8 ¢haAly Is responslbla for malntalnlng the pr8mls8s and Its conten15 and grounds in a suitable state of rap31r for use by thos9 who Ilve In the surroundlng area. 11 ralses Sncome through various charitable aclivllles, the main one being the hiring out ol its facllilles lo the gangral public, but a substantial amount ol its Income comas from ils connected trading company, Bentinck Miners Welfare Soclal Club Limitgd, which pay5 an annual occupational Iic8nc9 foa lo the charity in order lo run118 business from the charity'8 premises. In addltlon lo this, the company also transfers any proflls St makes to the charlty undor a Gifl Abd agreement $0 the Iruste8s work closely wlth the company's dlreclors to try ancj en8ure the company18 profltsble, thus ensuring extra income for the cliarity. Th& Irusleas hav& devolved certain aspects of th8 day to day running of tha charity to a Committee of Management wlth who they megt regularly. Trustee vacancles are advertlsgd and Intergsled parknes are asked lo apply in writing. Interviews will be held and sullable candldales are then nollft'ed lo their nomlnaling body being either CISWO, Trade Unlon or memb8rs. Th8 Irustea board Is made up of equal numbers of 8ach nomlnaling body. Flnan¢ial Rgview Thè charity made a not loss of £7,006 for the y82r as oppos8d lo last y82r's Income of £6,651. Granls of £24,249 for the installation of tha lift and defibrillator w¥re added to give net ineome of £30,900 in the prevlous year with the e-pendilure for these special payments being shown on the ch8riWs balance sheet. Incoma and 8xpandilure have returned to more normal levels this year. The telephone mast contract has now explred and the Trustees are involved in further negotiations lo renew this with 02. All Indlcations ara thst this will ba cor)8id•rably lowor than tha É7.769 roeÉ)ivèd In th&sè sccounts_ The weliare building needs constant altentlon and cost8 continue lo rise. The hou$e formerly oGGupiad by pr6vious siewards has not been o¢¢upled for some time and, due to the cost of council tax and repairs, a decision was taken by the Truslees lo rapair this with a view to letting it on a commercial basis. These costs will be reflected in the coming yeavs accounts. Contlnued. BENTINCK MINERS. WELFARE TRUST REPORT OF T TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 CONTINUED Flnanclal Revlaw {contlnuedl Over many years the income and expenditure allributde to the Charity and Social Club has been unnecessarily complicated so, following a review, income from bingo and membershlp which were previously accounted for as income of the Charity have now be&n included as income of the Social Club. Although the Trustees are, on the whole, satisfied with the Charity's results for the year they report that. as in previous years, they are concerned about the connected Soclal Club company. This year has continued to be economically challenging as the Social Club activity has not returned lo previous levels of activity. The Club has shown some increase in turnover due to organising summer ¢vents and a successful association with Kirkby Colts FC. The poor wèalhar in 2024 has howgver reduced this activity, The Company has once again made a modest rgduction to the debt that exists b8tW8en tha Company and the Charity (on which the Charlly 55 charging intgrestl. The Company ¢ontinuo$ lo Ir8de and the Directors plan that thi8 indebtedness wlll b6 given Itt& utm081 priority and ￿11 b8 cl8ar8d as soon as possible. The Charity balance sh881 remains strong with overall raserv8s of £308,248 made up of tangible fixed ass81s of £199,159 and nel current assets of £109,089. Available cash remains al a good lev81 al the balance sheet dale and the Charlly has only minimal debts whlch the Trustees Consider can be maintained in the future. Re￿eW of Actlvltles The Trusle6s have continued lo provide an instllut8 and recreallon ground facilities to Ihg local cornmunlly In Kirkby-in.Ashfield. The COVID 19 pandemic affected all the community activities of the Charity bul these ale now gradually returning to normal. The building however is closed on certain days of the weak, Tho rgcraalion ground has now returned lo full activity for junior football teams. Quarrydale United FC continues lo hirg the facililles enabling variou5 junior football teams to enjoy the game In a safe envlronmenl. Jumpslart is an aducallonal support organisalion whlGh continuas to rfjnt the former playschool araa. Several successful outside events were organised for the local community including that for tho King's Coronallon and bonfire night. The charlly facilitles are avallable lo provide benefit lo all members of the goneral publlc. Th8 Truste8s are 2waro that the welfare building Is sadly In ne8d of major repairs for which fund are currently unavailable although small bul slgady progress is madg each year. They will continuo lo Concentrate on improving the inside of thè building including the upstairs concert room and kitchens which have provided a steady source of income from a variety of famlly functions. The Truslees are also members of the local community who provide their services on a voluntary basis. Savèral members of the Social Club have also volunteered lo help during this year and this is appreciated. Investment Policy Thera is no sp&cif1c investnienl policy in place as such as the charlty does not have sufficient funds at this time lo consider investment of any sort. The trustees will continue to monitor this s51uation and make relevant decisions as necessary. Contlnued. 3ENTINCK MINERS. WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR EINDED 31 DEGEMBER 2023 GONTINUED Rosarvas Pollcy It is the pollcy of the trustees lo maintaln unrestrlcled funds wh5ch are the fre8 reseNes of the charfty at a level to provide sufficient Tunds to cover anticipated admlnislralion and support costs for a pariod of 12 month8. Any additional reseNes are held lo provide a capital fund for repairs required for the upkeèp of the prèmises. R5$k Managumont The Iru818es are awaro of tho operallonal and flnanclal rlsks whlch the ch?rity facgs and rogularly roviews Ihosg risks lo mits'gale against any Impact that may have on Ihg charity. The malor rtsks facing the charlly are the eonlinu8d 8UCC8ss of tha social club from whlch it derives Its maln furnding, the support of Individuals and th8 community in using th8 facilities and tho introduction of thè youngar gen8ration to provide for the futur8. The Irusl888 work closely wlth Ihg dir¢¢tors and members lo address these rlslID B HSBC - Cuff8nl account Savings account Cash held by Entertalnmenl Committee 1,070 80,123 3,355 92,145 693 96,193 RS:A ts fallln wlthln ne Purchase ledger balances Accruals and other ¢redltors VAT 2,116 1.721 238 2.091 40 3,837 2,369 8. EXCEPTIONAL ITE During the yèar th8 trustees d•cided thal incorne from bingo and membership fees should be shown in the aGGaunts of Ihe connected tradSng company, Benlinck Miners, Welfare Social Club Ltd, and that thls ought lo have been the case in years past. As a result, the trustees camo 10 an 8grÈément with the company directors that all future income of this nature would go lo the Company and In recognltlon of th8 fact that this should have be&n the casè praviously th8y offered to transfer of sum equivalent to this income for tho last flve years. The amount agreed upon to setle this was £18,800. 10