| As a small | charity with limited resources and personnel, |
charity with limited resources and personnel, |
charity with limited resources and personnel, |
charity with limited resources and personnel, |
it is impractical to institute a robust system of internal control. The charity has |
it is impractical to institute a robust system of internal control. The charity has |
it is impractical to institute a robust system of internal control. The charity has |
it is impractical to institute a robust system of internal control. The charity has |
it is impractical to institute a robust system of internal control. The charity has |
no |
|---|---|---|---|---|---|---|---|---|---|---|
| employees | and has employed the firm |
ofChartered | Accountants to act as Trust Correspondent. The only others involved in running |
the | ||||||
| charity are | the Trustees themselves. | |||||||||
| Polices and | procedures have been developed to cover |
matters such as, financial systems, investment management, awarding |
ofgrants, | |||||||
| conflict of | interest and other matters. These are regularly | reviewed. In addition there is |
an annual budgeting process against which actual |
|||||||
| performance | is monitored throughout |
the year at regular | Trustees' meetings. |
|||||||
| Principal risks and uncertainties |
Response | |||||||||
| Internal | ||||||||||
| False accounting | ~Quarterly review offinancial performance against agreed budget |
|||||||||
| ~External statuto audit |
||||||||||
| Misappropriation ofincome |
~Almost all income is collected | by investment advisors and controlled |
by | them | ||||||
| ~Insignificant and rare refunds |
ofgrants returned by direct payment |
|||||||||
| ~Assurance reports on internal |
controls ofcustodians of our investments |
|||||||||
| Inflated expenditure | ~Detailed written policy on financial systems which includes requirement |
for | all | |||||||
| payments to have 2 signatories |
including at least 1 trustee |
|||||||||
| ~Investment managers fees are taken from funds held by them and amounts |
are | |||||||||
| reviewed to ensure compliance |
with agreement | |||||||||
| Misappropriation ofassets- |
||||||||||
| Investments | ~Assurance reports on internal |
controls of custodians of our investments |
||||||||
| Cash at bank | ~Monthly bank reconciliations |
|||||||||
| x erna | ||||||||||
| Loss in value of investments | ~ erna inves men managers |
ave iscre ion o manage our un s. |
owever, | |||||||
| the risk remains that external economic and political influences cannot |
always | be | ||||||||
| foreseen and therefore miti ated |
||||||||||
| Fraudulent grant applications |
~Capital and project grants are | reviewed by the board oftrustees |
||||||||
| ~Grants to individuals are paid |
to sponsors who are charged with the responsibility |
|||||||||
| ~Trustees visit grantees or sponsors from time to time |
| Unrestricted | Permanent | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|
| Funds | |||||||
| Notes | General | Endowment | Total | Total | |||
| INCOME FROM | |||||||
| Donation | |||||||
| Investment income |
|||||||
| Funds held by Investment | Managers | 159,144 | 159,144 | 149,247 | |||
| Bank interest | 55 | 55 | 2 | ||||
| Total Income | 159,199 | 159,199 | 149,249 | ||||
| EXPENDITURE ON | |||||||
| Raising Funds | 33,633 | 33,633 | 36,284 | ||||
| Charitable activities |
432,445 | 432,445 | 392,449 | ||||
| Governance costs | 6,842 | 6,842 | 6,473 | ||||
| Total Expenditure | 439,287 | 33,633 | 472,920 | 435,206 | |||
| Net gains on Investment | assets | (385,371) | (385,371) | 368,338 | |||
| NET INCOME/(EXPENDITURE) | (439,287) | (259,805) | (699,092) | 82,381 | |||
| Transfers | 439,287 | (439,287) | |||||
| NET MOVEMENT IN FUNDS |
(699,092) | (699,092) | 82,381 | ||||
| TOTAL FUNDS brought | forward | 6,034,567 | 6,034,567 | 5,952,186 | |||
| TOTAL FUNDS carried | forward | 5,335,475 | 5,335,475 | 6,034,567 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| FIXEDASSETS | |||||
| Investments | 5,355,039 | 5,845,976 | |||
| CURRENT ASSETS | |||||
| Cash awaiting | investment | 118,889 | 146,812 | ||
| Bank and cash | 19,252 | 47,179 | |||
| 138,141 | 193,991 | ||||
| LIABILITIES:Amounts | falling due within one year | 157,705 | 5,400 | ||
| NET CURRENT | ASSETS/(LIABILITIES) | ||||
| (19,564) | 188,591 | ||||
| NET ASSETS | 5,335,475 | 6,034,567 | |||
| FUNDS | |||||
| Permanent Endowment |
5,335,475 | 6,034,567 |
| 2023 | 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| E | E | E | ||||||||
| Grants to individuals | 24,183 | 20,978 | ||||||||
| Grants to individuals | - discretionary | 7,800 | 10,750 | |||||||
| Grants to institutions | 131,447 | 120,946 | ||||||||
| Capital grants | 250,000 | 225,000 | ||||||||
| 413,430 | 377,674 | |||||||||
| Support costs | ||||||||||
| Correspondent's | remuneration | 18,360 | 13,728 | |||||||
| Telephone, postage and |
stationery | 0 | 301 | |||||||
| Bank charges | 100 | 136 | ||||||||
| Travelling expenses |
0 | 218 | ||||||||
| Data Protection fee | 35 | 35 | ||||||||
| Meeting expenses | 182 | 359 | ||||||||
| Website costs | 144 | 0 | ||||||||
| Sundries | 194 | |||||||||
| 19,015 | 14,777 | |||||||||
| 432,445 | 392,451 | |||||||||
| Governance costs |
||||||||||
| Correspondent's | remuneration | 3,240 | 2,423 | |||||||
| Telephone, postage and |
stationery | 0 | 53 | |||||||
| Travelling expenses |
0 | 38 | ||||||||
| Meeting expenses | 182 | 359 | ||||||||
| Auditors' remuneration |
3,420 | 3,600 | ||||||||
| 6,842 | 6,473 | |||||||||
| During the year grants to individuals | have been made as follows: | |||||||||
| 2023 | 2023 | 2022 | 2022 | |||||||
| Total | Total | |||||||||
| Purpose | Number | Amount | N | umber | Amount | |||||
| E | E | |||||||||
| Clothing | 9 | 1,235 | 9 | 1,690 | ||||||
| Education and training |
3 | 650 | 15 | 3,213 | ||||||
| Household | 93 | 21,948 | 95 | 15,835 | ||||||
| Activities | 2 | 350 | 2 | 240 | ||||||
| 107 | 24,183 | 100 | 20,978 | |||||||
| Grants made to institutions | have been made as follows: | |||||||||
| Purpose | ||||||||||
| Equipment/buildings | 3 | 12,194 | 2 | 20,000 | ||||||
| Social activity and educational | programmes | 35 | 119,253 | 28 | 100,946 | |||||
| 38 | 131,447 | 30 | 120,946 |
| All Saints Youth Project | L2,000 | Lifespace Trust | L4,672 | ||
|---|---|---|---|---|---|
| Andrew Simpson Foundation |
L4,200 | Mentor Link |
L5,000 | ||
| B/ham Opera Company | L1,000 | Music ofLife | L5,000 | ||
| B/ham Rep Theatre | L3,000 | NICE | E2,277 | ||
| Barford Youth & Community | 810,000 | Redthread Youth |
L5,000 | ||
| B'ham Bosnia and Herz Com | Assoc | L5,000 | Sandwell Asian Dev't |
Assoc | L3,000 |
| Birmingham County Scouts |
L2,000 | South Sudanese East Bank | L1,500 | ||
| Birmingham Royal Ballet |
L3,000 | Spitfire Advice &Support | L5,000 | ||
| Birmingham Spitfire District |
8750 | Sport 4 Life UK | L5,000 | ||
| Cannon St Memorial Baptist |
L5,000 | Sudden Productions |
L2,500 | ||
| Changing Tunes |
L5,000 | Tall Ships Youth Trust | L2,000 | ||
| City Year | L2,500 | The Living Paintings | Trust | L1,950 | |
| Community Safety Education |
CIC | L2,200 | The Outward Bound Trust |
L3,104 | |
| Compass Drug Service |
L5,000 | UK Sailing Academy | L5,000 | ||
| Family Connection Assoc | L2,500 | Volunteering Matters |
L2,500 | ||
| Go Beyond | L1,100 | Warks Young Carers | L7,500 | ||
| Kairos Women Working Together | L5,000 | Whizz Kids | L1,500 | ||
| KIDS | L2,500 | Woodlands Adventure |
8694 | ||
| La Pepiniere Ministries |
L4,000 | Youre Cherished CIC |
L2,500 |
| Unapplied | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Endowment | Total Return | Total | ||||||||
| Aggregate | value ofthe assets since the outset oftotal return | 2023 f |
2023 f |
2023f | 2022f | |||||
| Value at 1 | April 1991 | 1,813,010 | 1,813,010 | 1,813,010 | ||||||
| Additional | endowed capital |
1 April 1992 | 246,620 | 246,620 | 246,620 | |||||
| Gain in value | 3,974,937 | 3,974,937 | 3,892,556 | |||||||
| Value at 6 | April 2022 | Total | 2,059,630 | 3,974,937 | 6,034,567 | 5,952,186 | ||||
| Movements | in the year ended 5April 2023 | |||||||||
| Gain(Loss) | in value | (385,371) | (385,371) | 368,338 | ||||||
| Net Investment income receivable |
159,199 | 159,199 | 149,249 | |||||||
| Investment | management | costs charged against permanent | endowment | (33,633) | (33,633) | (36,284) | ||||
| Total | (259,805) | (259,805) | 481,303 | |||||||
| Net unapplied total return |
allocated to income for the year ended 5April 2023 | (439,287) | (439,287) | (398,922) | ||||||
| Net movement | for the year ended 5April 2023 | 699,092 | 699,092 | 82,381 | ||||||
| Value at 5 | April 2023 | |||||||||
| Permanent | endowment | 2,059,630 | 2,059,630 | 2,059,630 | ||||||
| Unapplied | total return | 3,275,845 | 3,275,845 | 3,974,937 | ||||||
| Total | 2,059,630 | 3,275,845 | 5,335,475 | 6,034,567 |
| Unrestricted | Permanent | 2022 | ||||
|---|---|---|---|---|---|---|
| Funds | ||||||
| Notes | General | Endowment | Total | |||
| E | E | E | ||||
| INCOME FROM | ||||||
| Investment income |
||||||
| Funds held by Investment | Managers | 149,247 | 149,247 | |||
| Bank interest | ||||||
| Total Income | 149,249 | 149,249 | ||||
| EXPENDITURE ON | ||||||
| Raising Funds | 36,284 | 36,284 | ||||
| Charitable activities |
392,449 | 392,449 | ||||
| Governance costs | 6,473 | 6,473 | ||||
| Total Expenditure | 398,922 | 36,284 | 435,206 | |||
| Net gains on investment | assets | 368,338 | 368,338 | |||
| NET (EXPENDITURE)I INCOME | (398,922) | 481,303 | 82,381 | |||
| Transfers | 398,922 | (398,922) | ||||
| NET MOVEMENT IN FUNDS |
82,381 | 82,381 | ||||
| TOTAL FUNDS brought | forward | 5,952,186 | 5,952,186 | |||
| TOTAL FUNDS carried | forward | 10 | 6,034,567 | 6,034,567 |