VICTORIA COLLIERY & KNYPERSLEY WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report along with the ffnancial statements of the charity for the year ended 31 December 2024 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 5 and compSy with the charities trust deed, appllcable law and Charltes SORP FRS 102, Constitution Ob"ectives and Activities for the Publlc Benollt The charity is constituted by an amended Governing Document dated 14th April 2005 and is registered under the number 522689. Its objective is to provide facilities for sport, recreation, leisure and education for the benefit of the inhabitants, and in particular but not exclusively, such of the said inhabitants as are members of the mining community, of the area of benefit without dists'nction of political, religious or other opinions with the object of Improvlng the conditlons of life for the said inhabltants. The trustees have referred to the guldance given by the Charity Commission on public benefit when reviewing the charity's aims and objectives and details of the activities that have taken place during the year can be found later In this report. Or anlsational Structure The trustees who have served the charity during the year are shown on page 1. The charity is responsible for maintaining the premises and tts contents and grounds in a suitable state of repalr for use by those who live in the surrounding area. It raises som8 funds through various charitable activitles. In addition, a certain amount of its income comes from its connected trading company, The Victoria Colliery and Knypersley Social Club Ltd, which pays an annual occupational licence fee to the charity in order to run its business from the charity's premises. In addition to this. the company also transfers any profits it makes to the charity under a Gift Ald agreement, so the trustees work closely with the directors to try to ensure the company is profitable. thus ensuring extra income for the charlty- Trustee vacancies are advertised and interested parties are asked to apply in writing. Intervlews will be held and suitable candldates are then notified to their nominats'ng body belng elther CISWO or trade union members. Flnanclal Review The charity had net outgoing resources of £741 lor the year compared with net outgoing resources of £5,005 in the previous year. The trustees are relatively happy with the results this year and look forward to increased usage of the facilities and better results going foard. Investment Pollc The charity does not have an investment policy in pla as such but if there were sufficient funds the trustees would place the charity's liquid a55ets in an interest bearing bank account. ReseNes Polic It is the policy of the trustees to maintain unrestricted funds which are the free reserves of the charity, at a level to provide sufficient funds to cover anticipated administration and support costs for a perlod of 12 months. Any additional reserves are held to provide a capltal fund for repairs that will be required for the upkeep of the premises. Continued... 14
VICTORIA COLLIERY & KNYPERSLEY WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 continued Risk Mana ement The trustees are aware of the operational and financial risks which the charity faces and regularly reviews those risk5 to mitigate against any impact they may have on the charity. The major risks facing the chafity are the continued success of the social club from which it derives Its main funding, the support of individuals and the community in using the facilities and the introduction of the younger generation to provide for the future. The trustees work closely with the directors, committee and members to address these risks. Statement of Trustees. Res onslbllltles Law applScable to charlties In England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are requlred to; select 8Ultable accounting policies and then apply them consistently., - obsetve the methods and princlples in the Charities SORP; make judgements and estimates that are reasonable and prudent., stste whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charrti8s*ct 2011. They are also responsible for safeguarding the assets of the charity and hence for taking steps for the prevention of fraud and other irregularities. AILc/2 Signed - Trustee Prfnt Name - Trustee Date 15
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