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2025-12-31-accounts

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Our Work & Impact 2025 Annual Report & Accounts

CISWO supports individuals and communities facing disadvantage due to the impact of the coal mining industry.

Registered charity 1015581 / SCO39529

Docusign Envelope ID: 8726560D-B8BB-8C63-82B7-575111144FBD

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Contents Page
Welcome from our Chair and CEO 3
4
Report of the Trustee
5
About us
Our strategic plan 6
Our work and impact 2025: Supporting 8
former miners and their dependent families
Our work and impact 2025: Supporting 18
mining charities
Our work and impact 2025: Protecting 23
recreational land in former mining
communities
Structure, Governance and Management 24
Operational Policy and Public Benefit 26
Financial review
28
Trustee’s responsibilities statement 34
Auditor’s Report 35
Financial Statements 42
Statement of financial activities 43
Balance sheet 44
Cash flow statement 45
Notes to the financial statements 46
Legal and administration 69
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Docusign Envelope ID: 8726560D-B8BB-8C63-82B7-575111144FBD Welcome from our Chair and CEO

We are proud to present our Annual Report for 2025 which marks the third year of our current five-year strategy.

During the year we have continued to deliver wide-ranging services across the former coalfields, improving the lives of individuals and communities facing disadvantage due to the impact of the coal mining industry. With over 2000 individuals receiving personalised support, over 220 mining charities provided with advice and guidance, and 213 recreational sites safeguarded for social and recreational use, our reach and impact is considerable.

Our different beneficiary groups continue to face economic and social challenges. We continue to develop our provision to help meet those challenges, be that helping individuals to maximise their income to meet rising living costs, or providing miners’ welfare charities with grant support towards energy efficiency measures. Our focus is to ensure our resources are used to achieve maximum impact for individuals and communities.

As the only mining charity working solely for former miners, mining charities and mining communities across the UK, we work hard to demonstrate our values within our staff team, governance, partnerships, and most of all, with our beneficiary groups. We continue our commitment to adapting our services to meet the evolving needs of those we work with, and to building our partnerships in the civil society and statutory arenas.

Within this report there are real examples of how CISWO helps. We pride ourselves on the outcomes we can evidence, and the impact we can show. We will continue to develop and learn from those we work with and are immensely grateful for the positive feedback received from beneficiaries.

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Carole Langrick Nicola Didlock
Chair Chief Executive
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Docusign Envelope ID 8726560D-B8BB-8C63-82B7-575111144FBD •iswo," THE COAL MINING CHARITY Report of the Trustee

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About us

CISWO, the Coal Industry Social Welfare Organisation, has a long and complex history going back to 1920. Registered as a charity since 1995, we work hard to preserve the heritage of the coal mining industry, whilst focusing on the current and future needs of those impacted by it.

We work across all former coalfields in England, Scotland and Wales, providing a range of services and support for those impacted by the coal mining industry. We are the only national charity solely focussed on supporting former coal miners and their families, other mining charities and local mining communities. We are driven by our vision, mission and values, which remain at the core of everything we do.

Our Vision & Mission

Vision:

Enabling former coal miners and mining communities to reduce disadvantage

Mission:

Improving the lives of individuals and communities facing disadvantage due to the impact of the coal mining industry, through the provision of support, improvement of resources and protection of recreational land

Our Values

Responsive: Our services are flexible to respond to the differing needs of our client groups. We adapt our services to meet the changing environment and challenges faced by individuals, communities, and other charities that we support.

Impact:

We make a difference through the services we deliver, the resources we use, and the support we provide.

Supportive: We deliver support to those most in need, provide encouragement, help, and practical assistance to individuals, communities and other charities.

Integrity: Caring: We are fair and We are genuinely honest in our concerned about actions and those we work decision making, with. We care making sure we do about individuals the ethically right - our clients and thing throughout employees, our work. communities, and organisations we work with.

Our people

Our services are delivered though a dedicated, skilled and experienced team of employees deployed across coalfield communities.

During 2025 the average number of employees totalled 60, 85% of who are employed in the direct delivery of services with the remainder working in central support functions. Of these:

were employed in the 36 delivered our support forformer miners and their 2 protection of recreational land families were employed in 13 delivered our support 9 management and for mining charities administration

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Our Strategic Plan

Enable

We will enable those we work with to achieve positive outcomes, providing support to help them achieve their goals.

CISWO’s long-term strategy is to continue to meet the needs of former miners and mining communities through three core delivery areas;

Supporting former miners and their dependent families through a range of tailored services.

Supporting mining charities to be sustainable and to continue providing valuable services and recreational spaces in former mining communities.

Protecting recreational land in former mining communities for future generations.

Develop

We will develop our services to meet the changing needs of individuals and communities. We will develop our organisation to be fit for the future.

In our 5 year strategy for 2023 – 2027, we recognise that the needs of those we work with continue to change and we strive to adapt our services to meet those needs.

Improve

We have ambitious objectives to ensure the best outcomes for our beneficiaries and communities, focused around three strategic themes:

Performance is monitored and reported throughout the year through Board approved key performance indicators (targets) and comparative year on year performance statistics. These are provided under each area of activity throughout this report, evidencing impact and performance across all areas of service. It is important to note that services are needs led and demand can change over time.

We will always look for opportunities to improve the lives of those we work with, improve the services we deliver, and improve the impact we have on individuals, communities and other organisations we work with.

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Our plans for 2026

What we set out to do

What we achieved

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Our work and impact 2025

Supporting former miners and their dependent families

CISWO is here to improve the lives of former coal miners and their families. We do this through a range of services and interventions, delivered across the UK in former mining communities.

Personal Welfare

CISWO’s Personal Welfare Service provides free, confidential and practical support for former mineworkers and their dependent families. Our personal welfare team continue to help people navigate complex challenges linked to ill health, disability, financial hardship, bereavement, caring responsibilities and social isolation. Our approach is person centred: we listen, understand each individual’s circumstances and work alongside them to identify the support that will make the greatest difference. We offer:

The service is available to former mineworkers, their partners and widows, as well as dependent children and adult dependants with a disability. By providing tailored advice and hands-on support, CISWO helps beneficiaries access the assistance they are entitled to, reduce immediate pressures and improve their wellbeing, independence and quality of life.

All support is provided free of charge and in confidence, ensuring people can seek help in a safe, respectful and supportive environment.

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Our Impact and Performance

2,078

former miners or dependent family members received our support - compared to 2,122 in 2024

£114,484

provided in grants to former miners and their families in need to help with mobility aids, property repairs, funeral expenses and to support with additional needs caused by pneumoconiosis

£4,587,110

worth of additional income was secured for beneficiaries - an increase on 2024 (£4,494,085)

“CISWO supported my dad for many years when our family needed it most. Their kindness and practical help made a real difference, and my dad was so grateful he shared CISWO’s details with other former miners.” Leanne

“Our caseworker was fantastic and we would recommend the charity to anyone that needs help.” Mr and Mrs L

100%

78%

of clients achieved at least one positive outcome (improvement in housing, health, financial situation, support network, or social situation) as a result of our intervention, against a target of 75%

Action taken in 100% of cases where safeguarding issues have been identified.

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“Thank you for all the assistance
you gave me regarding my
claims and entitlements. Without
your help I would have found it
so difficult.”
Mr B
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“My wife has lived with severe osteoarthritis for many years, and as her condition worsened we had to move house. With CISWO’s advice, form-filling support and guidance, it became much easier to put systems in place so we could stay at home together.” Mr C

“My caseworker went above and beyond when I was so low with depression. I don’t know how I would have got through without her.” Mrs L

89%

of clients completing our customer satisfaction survey feel that we have made a difference to their life against a target of 90%

95%

of clients completing our customer satisfaction survey feel they got the help that mattered to them against a target of 90%

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Scan here to find out more about CISWO’s Personal Welfare Service

Supporting former miners and their dependent families

James’ Story

Former miner James discovered CISWO’s Personal Welfare Service through a miners’ social media group, ‑ a decision that proved life changing.

Although already receiving Industrial Injury Disability Benefit for pneumoconiosis, he felt his award did not fully reflect the condition’s impact on his daily life.

With CISWO’s specialist welfare benefits support, he increased his disability award, secured additional compensation, and gained vital financial help.

James described the outcome as transformative, providing not only essential financial support but also a sense of being understood, supported, and properly represented.

Providing vital grant support

After the death of Barbara’s husband, CISWO provided vital grant support to help ease the financial strain caused by industrial disease. It was identified that his illness was linked to his work in the mines, enabling CISWO to step in with targeted assistance.

Through CISWO’s support, Barbara secured a pneumoconiosis grant from the charity, alongside guidance on posthumous claims and referrals for additional help.

The grant provided much‑needed financial relief at a difficult time, offering reassurance and stability following her bereavement.

Barbara described CISWO’s support as invaluable, highlighting how the grant and clear guidance allowed her to access help she had not known was available and ensured her husband’s illness was properly recognised.

Dewi’s Story

Dewi learned about CISWO through a friend and received vital support from our personal welfare team. With their help, he secured compensation for osteoarthritis of the knee, ensuring his condition was properly recognised.

His experience highlights how many former mineworkers remain unaware of the benefits they may be entitled to,

and the value of specialist guidance in navigating complex applications.

Reflecting on the support, Dewi said:

“CISWO supported me with my PIP and IIDB claims, helping me secure compensation. I would recommend them to all former coalminers seeking guidance.”

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End of life planning and support

Through our services we recognised that many of those we work with face difficulties in planning for end of life.

In response, during 2025, we launched CISWO’s Supporting You with End-of-Life resource, dedicated to helping former miners and their dependent families to plan for the end of life with dignity and support.

Partnering with bereavement charity AtaLoss, and expert will writers Octopus Legacy, the resource offers:

Our Impact and Performance

63 individuals accessed the free will writing service.

39 wills completed, giving families confidence and assurance that their wishes are protected.

Michael’s Story

A visit to support Michael with a Blue Badge application quickly revealed wider needs. Our personal welfare team identified that he did not have a will in place, an essential safeguard for protecting his wishes and supporting his family.

As part of CISWO’s end of life support, CISWO arranged a visit with delivery partner Octopus Legacy, enabling him to create a will, establish a house in trust, and set up Power of Attorney.

These measures provided Michael with clarity, security, and peace of mind.

Impressed by the support, Michael recommended CISWO to his family. He later shared:

“The service has been outstanding from start to finish…we would not have been able to manage this without CISWO.”

Scan here to find out more

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Supporting former miners and their dependent families

Social inclusion

We provide a range of support and opportunities aimed at reducing social isolation, through our social day centre in Pontefract, community based group events, and access to other organisations and societies.

Thornycroft Day Centre

Our social centre in Pontefract provides opportunities for former miners and those from mining communities to come together to access a varied programme of social and recreational activities to enhance physical, mental and social health whilst reducing isolation and loneliness.

In addition to our programme of crafts, physical activity sessions, games, information sessions and hot meals, throughout 2025 we hosted a series of workshops from partnership organisations around a range of relevant topics with sessions delivered by Age UK, Turning Point Talking Therapies, and Grow Wakefield, as well as a range of intergenerational activities with a local school.

Throughout the year, we provided day trips for our clients at Thornycroft to visit local garden centres and libraries, alongside seasonal events such as our annual Christmas lunches and summer activities.

Accessible transport is provided through our minibus service for those who are unable to access the centre independently.

Support for social groups

Extending our reach to reduce social isolation within communities in Wales, our support for mining social groups helps them to deliver valuable services in their local communities. Our grant assistance funds day trips and activities.

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Scan here to watch Malcolm’s story

Our Impact and Performance

3,540

individual beneficiary journeys to and from Thornycroft, enabling accessibility for those unable to attend independently, reducing barriers to inclusion and engagement (3,348 in 2024).

240

activity days delivered at Thornycroft increasing physical, mental, social and emotional wellbeing.

137

unique individuals attending Thornycroft on average each week, increasing interaction and reducing isolation.

8,624

total attendances at Thornycroft over 2025 compared to 8,360 in 2024.

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social groups provided with grant assistance, funding activities and day trips, compared to 9 groups supported in 2024.

£5,105

of grant support provided to social groups in Wales compared to £3,705 in 2024.

Finding Belonging Again at the Thornycroft Centre

After nine years of loneliness following the loss of his wife, former miner Malcolm was encouraged to visit the Thornycroft Centre, an introduction that became a vital source of support and social connection. The Centre provides a welcoming space with activities including gentle exercise, games, arts and crafts, themed events, day trips, and a hot lunch, all aimed at reducing isolation.

For Malcolm, these everyday interactions restored a sense of normality. He encourages others to attend, saying: “Please just come along and start trying to get back to a normal life.”

Confidence and Connection: Sandra and Ann’s Journey

Sandra and Ann joined the Thornycroft Centre after losing their husbands, each seeking support and renewed social connection. Starting around the same time, they quickly settled into the Centre’s welcoming environment and soon chose to attend twice weekly.

Their shared visits developed into a close friendship. They now keep in regular contact, meet outside the Centre, and even take holidays together.

Sandra says her confidence and wellbeing have improved, while Ann feels more connected and has made new friends.

Their experience shows how the Thornycroft Centre helps people rebuild confidence, form meaningful friendships, and create new beginnings.

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Scan here to find out more about Thornycroft

Supporting former miners and their dependent families

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“It makes you feel like
“Without the service you are a person, not
just an object. I feel
that Thornycroft
valued and safe to
provides I would not
get out. They all do a come.”
great job.” Mrs Trewick
Mr Morris
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“I enjoy the bus service as
transport isn’t very good in my
area. Thornycroft has helped
me mix with people and
feeling better in myself.”
Mrs Burns
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“It’s lovely, gets me out socialising. I have made new friends and have been on two trips offered and there is no way I would have done this on my own.” Mr Barnsley

Cwmaman - Recycled Teenagers

As one member of the Cwmaman Group shared, “I am very grateful for the grant so that we can enjoy two day trips together. We are a 14 happy bunch of older ladies, thus called recycled teenagers. We all like spending time together and helping others.”

A £500 grant for a social group in Cwmaman meant that members of the Recycled Teenagers group were able to go on a day trip to Barry Island and Laugharne, creating opportunities for social engagement, reducing isolation, and improving wellbeing.

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Residential support

Our Impact and Performance

As part of its wider support offer for former mineworkers, CISWO provides a number of self contained bungalows for those formerly employed in the coal mining industry, their partners or widows. Bungalows are provided in Pontefract and Barnsley to support those with low incomes and / or health issues.

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17

former residential mineworkers, bungalows provided partners and or for former widows mineworkers and accommodated their families

Scan here to watch Andrew’s story

Andrew’s Story

After spending years in a home that no longer met his needs, Andrew found himself increasingly unhappy with his living situation. His property had fallen into disrepair, the rent was high, and with a flight of stairs becoming harder to manage due to his hip problems, he began to worry about how he would cope in the future. When he reached out to CISWO, we were able to support him in moving to a bungalow that has greatly improved both his daily comfort and overall wellbeing.

“Moving here has lifted me completely. My old place was in such a state, and I just wasn’t happy for a long time. Here, I’ve got space, I’ve got a garden with a fruit tree, and I’m even planning on getting a little greenhouse for tomato plants – something I’d never have bothered with before because I had no interest. Now I do. I feel like I’ve got a lift again; I want to get on with things instead of just sitting and waiting. It’s brilliant. I love it. This is my home now – forever.”

Trevor’s Story

Trevor had been struggling in a home that no longer met his health needs. Dampness, safety issues, and the impact on his mental wellbeing left him worried about the future. After hearing about CISWO from a friend, he reached out for support, and we helped him move into a home that offers far greater comfort, safety and independence. With a more suitable space and a supportive community, Trevor now feels more secure, more confident, and better able to manage everyday life.

“Moving here has been brilliant. There’s no damp, everything’s fine, and it feels like a proper home. My neighbours are lovely, and it’s much easier for me to get around safely - even simple things like getting in and out of the bath. My mental health still goes up and down, but things are a lot better now. You’ve helped with my bills too, which has made things easier for me and my family. I really appreciate what you’ve done, and I’d encourage other former miners to get in touch.” 15

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Scan here to find out more about CISWO Education Grants

Supporting former miners and their dependent families

Education Support

Supporting access to higher education has been a longstanding priority for CISWO. Recognising that families on a low income may struggle to support children in higher education, thereby impacting on aspirations and opportunities, we provide grants for former mineworkers and their dependent children from low income families to support with the costs of higher education.

Our Impact and Performance

13

students supported through higher education

£19,500

of grant support awarded

Brooke’s Story

Brooke, who is currently studying for a degree in Social Media Management, first learned about the CISWO education grant through her uncle, who encouraged her to apply after hearing about the support available for those from mining families.

Brooke’s father worked in the mines for fourteen years, from 1980 to 1994, before sadly passing away when Brooke was eight years old. With a strong personal connection to the industry, the CISWO grant offered meaningful assistance at a crucial time in her academic journey, offering both practical and emotional reassurance during her studies.

As she progresses through her degree, Brooke is preparing for a future in digital marketing, an industry experiencing rapid growth. She hopes to build a career in media advertising, taking advantage of the expanding opportunities within the sector.

“The CISWO educational grant was incredibly beneficial to my education. It allowed me to purchase equipment and software that improved my overall performance at university and ensured my assignments were completed to the highest standard. It gave me access to things that otherwise wouldn’t have been possible and greatly improved my university experience”

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Supporting mining charities

CISWO is committed to empowering over 200 independent local mining charities, helping them continue to deliver essential recreational and social facilities that lie at the heart of local communities.

Through our comprehensive community welfare support service, we enable these charities to make a difference, to be sustainable, ensuring they are retained for future generations, and to continue providing valuable services and recreational spaces in former mining communities.

We provide tailored, hands-on support for miners’ welfare charities, stakeholders, and partners, including funding guidance, and long-term planning, helping charities to stay sustainable and continue making a positive impact.

Our support is focused on sustainability – providing guidance, governance support, trustee recruitment and training, and help to access funding through our fundraising support offer.

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Scan here to find out more about CISWO’s Community Welfare Service

Advice and Guidance

Through our community welfare offer, local miners’ welfare charities from across the UK are supported with wide-ranging issues from business planning, budgeting and financial forecasting, seeking professional advice, trustee recruitment, and more.

Our community welfare teams are regionally based and work closely with our national grants team and estates function to support other mining charities to deal with a wider range of challenges and progress with a range of opportunities, focused on ensuring their sustainability for the long term.

Our Impact and Performance

100%

of miners’ welfares completing our customer satisfaction survey agreed that they had got the help that mattered to them.

185

miners’ welfare charities received direct support through information, advice and support, amounting to 85% of current miners’ welfare charities against a benchmark of 95%

Resolven Miners’ Welfare

Resolven Miners’ Welfare closed in 2023, leaving the village without its main accessible venue and reducing opportunities for community, cultural and support activities.

A phased renovation was agreed to bring parts of the building back into use quickly while creating a sustainable centre for wellbeing, skills, employment and local renewal.

CISWO supported trustees with governance, compliance, budgeting, planning and grant applications, helping secure £137,925 to begin renovations and reopen parts of the building while further funding is sought.

“Thank you all again for your help, time and for believing in us… the hands-on support with the applications has been invaluable” – Resolven trustees.

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Supporting mining charities

Access to Funding

CISWO supports local miners’ welfare charities with financial sustainability, including direct financial assistance through CISWO’s own grant giving to support recreational provision, alongside fundraising support through our grants team, to access external funding opportunities.

Alongside funding a range of projects and developments across the UK, CISWO grant funding has also been utilised as match funding, levering additional funds to support large scale projects and renovation works for miners’ welfares.

Our Impact and Performance

£176,250 of CISWO funding provided to miners’ welfare charities to support recreational activity compared to £154,785 in 2024

47

welfare charities provided with support to access grant funding against a target of 50

£608,279

in funding secured for 31 miners’ welfare charities through applications written and supported by CISWO, compared to a target of £1million and £365,235 achieved in 2024.

Dodworth Miners’ Welfare: Cutting Costs and Securing a Sustainable Future

A major solar energy installation at Dodworth Miners’ Welfare is strengthening the facility’s financial ‑ resilience and long term sustainability. Supported by a £25,000 investment from CISWO, the project installed 50 solar panels and battery storage on the site’s 600‑capacity stand.

CISWO’s involvement extended beyond funding, providing practical guidance on grant processes,

required permissions, and coordination with delivery partners to ensure the project met the welfare’s needs and future ambitions.

The installation is expected to reduce annual energy bills by nearly half, saving around £3,500 each year, with a further £2,500 anticipated from surplus energy sold back to the National Grid. Generating 18,920 kWh of clean energy annually, it will also reduce carbon emissions by almost four tonnes.

As a hub for local sport, community groups, and events, these savings will enable the welfare to reinvest in its facilities and services. Chairman Eric Richardson described the impact as “unbelievable.”

Scan here to watch Dodworth Miners’ Welfare story

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Brighter Futures at Linby Miners’ Welfare Recreation Ground

New LED floodlights have been installed at Linby Miners’ Welfare Recreation Ground with support from a £16,486 CISWO grant. This upgrade enhances one of Nottinghamshire’s oldest grassroots football facilities, enabling extended training and match activity throughout the darker months. The improved lighting increases safety, accessibility, and opportunities for players of all ages.

For a club with deep roots in its former mining community, the project represents more than a facilities improvement, it strengthens the Recreation Ground’s role as a valued local asset, supporting wellbeing, connection, and ‑ long term community use.

Coelbren Community Cinema: Bringing People Together

Trustee Emma Davies said:

Coelbren Welfare Hall has launched a new community cinema following help from CISWO’s grants team to access external funding. The project will provide regular, affordable screenings for this rural former mining community, offering a local alternative to travelling long distances for entertainment and helping strengthen social connections.

“We wanted to create something that brings people together and offers families entertainment without the cost and travel. Support from CISWO made this possible.”

Early screenings have been well received, and future programmes will reflect community feedback, supporting the hall’s ‑ long term sustainability.

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Supporting mining charities

Scan here to find out more about trustee workshops

Governance Support

Through our regional development managers, miners’ welfare charities are provided with advice and guidance to facilitate and encourage good governance.

From understanding their governing document, roles and responsibilities of trustees, managing conflicts of interest and where to seek professional advice, CISWO works to ensure well run and compliant charities with the confidence to develop and adapt their services for the future.

Gelligaer & District Welfare Association

CISWO provided targeted governance support for Gelligaer & District Welfare Association during a period of significant transition, when the charity faced limited structure and unclear compliance processes.

Through one‑to‑one guidance, assistance with governance responsibilities, and support with funding applications, CISWO helped trustees strengthen oversight and establish clear direction.

This work contributed to a successful bid for Community Facilities Programme funding, securing investment for a new roof and essential building improvements, alongside CISWO match funding. Trustees now report increased confidence in managing the charity’s governance and long‑term sustainability.

“The support from CISWO has been invaluable… It has given the charity a clear direction for the future.” — Steve Amos, Trustee

Training

In 2025, CISWO expanded its trustee training programme to help miners’ welfare charities strengthen ‑ governance and long term sustainability. The regional sessions, led by CISWO’s development managers and grants team, provided trustees with practical guidance on their responsibilities, compliance, and funding opportunities. To improve accessibility, CISWO also introduced online workshops, enabling trustees facing travel, health, or geographic barriers to build their knowledge remotely. This enabled the development of specific workshops to upskill new trustees, ensuring clarity of their role and responsibilities.

‑ Together, the in person and virtual sessions offer flexible, comprehensive support, equipping trustees to lead effectively and helping miners’ welfare charities remain resilient and sustainable for the future.

Our Impact and Performance

45 miners’ welfare charities across the UK participating in workshops

7 networking and development workshops delivered across the UK to upskill and support local trustees compared to 6 in 2024.

95

trustees receiving training on a range of issues against a target of 80

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Protecting recreational land in former mining communities

We are proud to be one of the UK’s largest custodians of recreational land, protecting spaces that support the well-being of former mining communities.

We strengthen land management and protection through funding, compliance support and site improvements, taking a proactive approach to ensure these spaces continue to serve local communities long term.

Alongside freehold sites under our management, we hold fiduciary interests in many sites held under charitable trusts by Local Authorities, tiers of local government and other charities.

Our focus remains on protecting these spaces for future generations whilst honouring mining heritage. In 2025, we developed a new initiative to help miners’ welfare charities register land that was unregistered, reducing risks around ownership disputes, loss of charitable land, funding barriers, and limits on leasing or development.

Developed in collaboration with a highly credible law firm with particular expertise in charities, the initiative included a practical guide, training webinar, tailored 1:1 support from CISWO’s team, and access to CISWO archive records where available to evidence ownership.

Our Impact and Performance

213

social investment properties owned by CISWO, safeguarded for social and recreational use, compared to the same number in 2024. These spaces, leased and managed by local charities and community organisations, include playing fields, parks, and community hubs that bring people together and support active, healthy lives

300+ additional sites where CISWO holds a fiduciary interest, protecting the heritage of the mining industry

Thereby ensuring 2000+

acres of land remain for community use

40

miners’ welfare charities engaged with support for land registration, increasing understanding for the need for land registration, improving security of community assets and ensuring land remains for public benefit

Barnburgh Fishing Pond

Barnburgh Pond located in Barnburgh, Doncaster had been vacant for a number of years after negotiations with a number of interested parties had not progressed.

In 2025, CISWO supported Catch a Good Feeling CIC, a Community Interest Company dedicated to helping mental wellbeing through fishing in/around the South Yorkshire Region, in restoring Old Barnburgh Pond, coordinating required surveys, outlining restoration needs, and ‑ granting a rent free first year to enable reinvestment in the site.

As a result, there are currently around 150 registered members of the project with more expected once the site is fully operational. Local volunteers have been recruited to undertake maintenance work on the site, increasing participation by the community.

Overall, the site will create opportunities to increase local wildlife & biodiversity, engage all ages in angling sessions, increase mental wellbeing, youth engagement and learning and provide family-friendly community events and environmental education & conservation activities.

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Structure, Governance and Management

CISWO is an unincorporated charity, governed by trust deed dated 16 April 1991, amended by deed dated 15 February 1995, as amended by deed dated 22 May 2014 with the charity, number 1015581. In addition, the charity is also registered as a charity in Scotland, registered number SC039529. The charity constitutes a public benefit entity.

The charity’s Board of Trustees is responsible for overall governance, ensuring our charitable objects are met, defined as the promotion of health, the relief of poverty and hardship, and the advancement of education and other charitable purposes for the benefit of employees and former employees of the coal industry in the United Kingdom, employed or formerly employed in any present or past coal mining area of the UK and of their relatives and dependents and of the communities in which they live within those areas.

CISWO is governed by a corporate trustee, CISWO 2014 which is a charity in its own right, registration number 1160157. The CISWO 2014 Board includes 12 individual trustees, each appointed for their skills, experience and expertise through an open recruitment process. New trustees receive an induction into the organisation, coordinated through the Chief Executive and Human Resources Manager. At 31 December 2025 there was one vacancy on the Board. The corporate trustee, CISWO 2014 is also the sole member of CISWO Trading Limited and CISWO Charitable Property Services Trust.

INCORPORATED CHARITY The Coal Industry Social Welfare Organisation 2014 Company Limited by Guarantee Company Registration No 9113084 Charity Registration No 1160157 Trust Corporation - 12 Trustees

TRUSTEE

Coal Industry Social Welfare Organisation Charity Registration No - 1015581 OSCR Registration No - SCO39529

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Board and Committee responsibilities

The Board of Trustees is responsible for the professional, legal and financial governance of the charity, the formulation of organisational strategy, overseeing its implementation through operating plans and budgets and monitoring progress within this.

The Board is supported by four committees with delegated responsibilities and oversight of key aspects of delivery.

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Board of Trustees
Responsible for:
Strategy development
Approval of annual operational delivery
Ratification of key policies
ToRs for committees
Statutory accounts approval
Oversight of risk management
Ratifying annual budget and monitoring
financial performance
Compliance - legal, governance, procedural
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Finance and
General Purpose
Committee
Oversight and monitoring
the financial position.
Appointing and overseeing
investment portfolio.
Reviewing and
recommending the annual
budget.
Overseeing the
management of property.
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Audit and Risk
Management
Committee
Overseeing the risk
management framework.
Reviewing the effectiveness
of internal controls.
Appointment of external
auditors.
Reviewing the charity’s
annual accounts and report
prior to full board approval.
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Quality and Impact
Committee
Overseeing the
organisation’s delivery of
services for individuals.
Reviewing performance of
services for individuals.
Being accountable for any
serious safeguarding issues
where necessary.
Reviewing the operational
policies relating to individual
client support, and
overseeing compliance with
legislation and good
practice.
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HR, Remuneration
and Recruitment
Committee
Leading on the recruitment
of trustees and senior staff
and reviewing staff pay and
retention.
Monitoring HR performance
and reviewing HR strategy.
Overseeing complaints and
grievance procedures.
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Management

The Board delegates the management, implementation of strategy and overall leadership of the charity, through a defined scheme of delegation, to the Chief Executive and the senior management team.

The management of the organisation is structured into 4 regions; Scotland, North England, South England and Wales. These are supported from a central head office in Rotherham, South Yorkshire where central support functions are accommodated. During 2025, 60 staff were employed across the organisation.

Remuneration of key management personnel and the wider staff team is reviewed and approved by the trustee. Pay is operated within defined pay scales for all staff and benchmarked against appropriate external sources at recruitment. Annual cost of living increases are determined by reference to average awards given in the not-for-profit sector and are approved by the trustee.

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Operational Policy and Public Benefit

Policy criteria is agreed by the Board of Trustees and is reviewed on a cyclical basis in line with good practice.

Individual Grant Giving Policy

CISWO provides financial support to individual beneficiaries in the form of grants to meet specific needs, underpinned by the Individual Grant Giving Policy. Grants are available for former miners and their dependent families under specific eligibility criteria. The trustee delegates the responsibility for processing grant applications to the head office team with all awards authorised by the Chief Executive under criteria established through the policy.

The Individual Grant Giving Policy defines how the organisation focuses its financial support for those in greatest need. This includes a grant provision for former mineworkers who have been diagnosed with the coal industry related disease, pneumoconiosis.

Grant awards are discretionary within criteria established by the trustee. Grant opportunities are advertised through the organisation’s personal welfare service and through organisational literature, social media channels and the website. Applications can be submitted at any point in the year following an assessment by a member of the personal welfare team to determine eligibility and need. Grants are only considered within a wider package of intervention following an assessment process, and are submitted by a member of the personal welfare team on the client’s behalf with their consent.

Education Grants Policy

Education grants are awarded in accordance with the organisation’s Educational Grants Policy which defines eligibility criteria and the application process.

Grants are provided to eligible students to support participation in full and part time higher education courses. Eligible applicants include those who were employed in the coal mining industry of Great Britain where they have completed the required length of service and dependent children of such former employees, where they are financially dependent on parents. Eligibility is based upon need, with grants only being offered to those families where there is demonstrable low income.

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Recreational Facilities Development Policy

CISWO is committed to supporting other mining charities to deliver services and to secure the ongoing availability of recreational facilities in local communities. This is facilitated by the provision of financial support through grants and loans within specific parameters. Our Recreational Facilities Development Policy provides the principles and specific parameters underlying this provision alongside defining the process required to ensure this support is delivered on a systematic, equitable, and rational basis. Facilities that could benefit under this policy are identified through our ongoing partnership working with miners’ welfare charities and are considered as part of a wider support package focused on sustainability to meet the needs of local communities.

Public Benefit

The trustee confirms that it has referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity’s aims and objectives and future activities. In particular, the trustee considers how activities contribute to meeting the objectives set in the organisation’s strategic plan. Particular focus has been given to interventions and policies that will deliver the greatest impact to those former mining families and communities most in need. In delivering services we are aiming to provide clear evidence of how our intervention has benefited those we work with.

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Financial review

Review of the year

Our funds are used to provide services, for former miners and their dependent families, for mining communities and for the protection of recreational land, in accordance with our charitable objects and strategic plan.

We deliver demand led services the majority of which are provided free of charge for individuals and mining charities. Our expenditure needs are primarily met from the investment portfolio which is supplemented by income generated from charitable activities, other trading activities and sundry sources.

In doing this and in order to meet the demand for our services, we operate to a planned deficit budget.

Income breakdown 2025

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Trading activities Investment income
Other sundry sources Donations Charitable activities
Trading activities
168,339
Charitable
activities
599,023
Investment
income
511,334
Donations
2,850
Other sundry sources
98,100
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Total income: £1,379,646

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Total income of £1,379,646 (2024: £2,044,277) has been received in the year from:

CISWO’s investment portfolio is managed by investment managers Sarasin and Partners LLP. This provides the primary source of funding for the charity’s activities. The portfolio is managed on a total return basis with both capital and income utilised for the furtherance of the charity’s aims and objectives. The investment strategy adopted by Sarasin following their appointment in December 2024, prioritises the generating of funds to meet the drawdown requirement of the charity. This strategy has focussed on returns from capital sources in 2025 resulting in lower dividend and interest receipts, contributing to the decrease in total income from 2024.

Income Breakdown 2024

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Trading Activities Charitable activities
Charitable asset transfers Donations and other sundry sources
Investment Income
Trading Activities
145,838
Charitable
activities
536,184
Investment
Income
1,080,289
Charitable
asset
Donations and
Total Income: £2,044,277 transfers
other sundry
276,337
sources
5,629
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Financial review

Total expenditure on charitable activities in 2025 was £3,472,769 (2024: £3,183,522), the main areas of expenditure were:

Staff, the majority of which directly deliver our services.

The charity is required to meet any future deficits arising on the Industry Wide Coal Staff Superannuation Scheme (IWCSSS) and to contribute to future administration costs for the life of the scheme. During the year, the charity made the decision, along with the Trustee of the IWCSSS, to transfer the risk associated with funding the future pension obligations to an insurance company, thus removing the uncertainty arising from the potential future liabilities whilst securing the pensions of those former employees. As the sponsoring employer, CISWO was required to make an initial payment to the IWCSSS of £1,500,000, equating to the current deficit on the scheme, as valued by the scheme’s actuaries. This is shown within the Statement of Financial Activities. Further costs are anticipated and have been disclosed as a contingent liability (see note 14).

This transaction has notably contributed to the overall financial result with the overall deficit before investment gains for 2025 being £3,746,389.

In line with the financial performance target established at the beginning of the year, the operational deficit is consistent with the budget agreed.

The investment portfolio increased in value in 2025 by £590,122 to £28,642,557. The balance sheet as at 31 December 2025 shows the total funds of the charity were £31,490,878 (2024: £34,505,795), comprising £26,371,630 (2024: £25,600,002) endowment funds, £5,029,702 (2024: £8,854,533) unrestricted funds and £89,546 (2024: £51,260) restricted funds.

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Reserves

The unrestricted reserves of the charity, excluding the value of fixed assets and investment properties, stood at £3,212,397 as at 31 December 2025. The charity aims to maintain reserves covering the budgeted deficit for a minimum twelve month period, which equates to £3.7m before investment gains. It is anticipated that the shortfall will be met through those gains. As part of the consideration in determining the reserves policy the trustee takes into account the necessity to balance the needs of current and future beneficiaries. We are committed to providing long term sustainable services and are heavily reliant upon our investments to provide funding to enable us to deliver these services. Adequate reserves are therefore maintained to ensure services can be delivered consistently and the charity can respond to demand both in the short and long term. The reserves policy is reviewed annually and expenditure budgets are built around the strategic plan.

In 2025 the endowment fund, the Kings Silver Jubilee and Coronation Cottages, was transferred to the unrestricted fund of the charity with the consent of the Charity Commission. The fund value at transfer was £197,528.

Going concern

The Trustee has prepared the financial statements on a going concern basis after taking in to account future budgets and cash forecasts covering a period of at least twelve months from the date of this report. The charity will operate to a planned deficit budget over that period in order to continue to deliver its services consistently and to respond to demand for those services on a national basis. The deficit budget is a planned position and finances are carefully managed and financial forecasts are regularly reviewed over the short, medium and longer term.

The Trustee does not believe that there are any material uncertainties which cast significant doubt on the ability of the charity to continue as a going concern.

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Financial review

Managing Change and Risk

The major risks to which the charity is exposed are:

Controls have been identified to minimise and manage these and other risks. Our trustees continually assess risk and any impacting factors. The Audit and Risk Management Committee formally reviews the strategic risk register on an annual basis. Investment performance is reviewed by the Finance and General Purpose Committee and monitored against agreed benchmarks. Our investment portfolio is managed by specialist charity investment advisors.

The Quality and Impact Committee provides scrutiny of our delivery of services for individuals, reviewing performance and capacity thereby reducing the risk around response to fluctuating demand.

Stakeholder engagement is a key priority in the charity’s annual delivery plan. Mechanisms to communicate and evaluate involvement with key stakeholder groups are in place.

Our annual delivery plan outlines actions taken to progress strategic goals, reported to the Board of Trustees at each meeting.

Fundraising

CISWO did not actively fundraise from the general public in 2025 and did not receive any complaints in respect of fundraising in the year. During 2025, the charity has developed its fundraising policy and has registered with the fundraising regulator in preparation for future fundraising activity.

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Investment Policy and Objectives

Our investments were managed by newly appointed Sarasin and Partners LLP during 2025 and regularly reviewed by the Trustee and by the Finance and General Purpose Committee.

The overall policy objectives are to create sufficient income and capital growth to enable the charity to carry out its aims consistently year by year with due and proper consideration for future needs.

The primary objectives are to ensure that the funds maximise the long-term total returns within a medium level risk profile as well as meeting the drawdown requirements of the charity. In achieving these objectives, the trustee reserves the right to exclude investing in companies that carry out activities contrary to the charity’s aims and objectives or which may be harmful to the charity’s reputation.

The investment policy is reviewed on an annual basis, the last review was undertaken in November 2025.

Performance of the investments is measured and compared against a number of agreed benchmarks on a total return basis. In 2025 the long term investment portfolio performance produced a return of 4.3%, compared to the index-based composite benchmark return of 12.1%. Our investment strategy is to invest in high quality stocks to achieve the long term performance objectives. In 2025 equity markets were driven higher by a relatively small number of companies, in particular those pertaining to more speculative and unprofitable sectors. Our deliberate bias towards higher-quality cash generative businesses with strong balance sheets was out of favour during 2025.

Relative performance has improved in 2026, albeit markets have been understandably preoccupied with the war in the Middle East. A number of steps were taken to de-risk the portfolio in the first quarter of the year, including a tactical reduction of equity exposure in March, together with the proactive provision of cash to meet our annual spending commitments.

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Trustee’s responsibilities statement

The Trustee is responsible for preparing the Trustee’s report and the 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, Wales and Scotland requires the Trustee 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 Trustee is required to:

The Trustee is 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, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), applicable accounting regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee is responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Saffery LLP have expressed their willingness to continue in office.

ON BEHALF OF THE TRUSTEE:

Carole Langrick , Chair of CISWO 2014, 30 July 2026

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Docusign Envelope ID 8726560D-B8BB-8C63-82B7-575111144FBD •iswo THE COAL MINING CHARITY Auditor's Report 41* +.: 35

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Independent auditor’s report to the Trustee of the Coal Industry Social Welfare Organisation

Opinion

We have audited the financial statements of Coal Industry Social Welfare Organisation for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet, the cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.

Other information

The Trustee is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

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Independent auditor’s report to the Trustee of the Coal Industry Social Welfare Organisation

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in respect of which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

we have not received all the information and explanations we require for our audit.

Responsibilities of the Trustee

As explained more fully in the Trustee’s Responsibilities Statement set out on page 34, the trustee is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustee is responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustee either intends to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Charities Act 2011 and the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustee, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with the trustee and updating our understanding of the sector in which the charity operates.

Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities (Accounts and Reports) Regulations 2008, the Charities Accounts (Scotland) Regulations 2006 (as amended) and guidance issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator.

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Independent auditor’s report to the Trustee of the Coal Industry Social Welfare Organisation

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of noncompliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Use of our report

This report is made solely to the charity’s trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the trustee those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Saffery LLP Statutory Auditor 10 Wellington Place Leeds LS1 4AP 30 July 2026

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Docusign Envelope ID 8726560D-B8BB-8C63-82B7-575111144FBD l•iswo THE COAL MINING CHARITY Financial Statements 42

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Statement of financial activities for the year ended 31 December 2025

Note Unrestricted Endowment Restricted Total Total
Funds Funds Funds 2025 2024
£ £ £ £ £
Income from:
Donations and legacies 6 2,850 - - 2,850 3,019
Charitable activities 7 519,911 - 79,112 599,023 536,184
Other trading activities 8 168,339 - - 168,339 145,838
Investment income 511,334 - - 511,334 1,080,289
Other income 9 98,100 - - 98,100 278,947
Total income 1,300,534 - 79,112 1,379,646 2,044,277
Expenditure on:
Investment managers fees 11 120,506 - - 120,506 123,459
Charitable activities 12 3,422,679 - 50,090 3,472,769 3,183,522
Other expenditure 13 32,760 - - 32,760 35,261
Exceptional item - pension buy-out 14 1,500,000 - - 1,500,000 -
Total expenditure 5,075,945 - 50,090 5,126,035 3,342,242
Net (expenditure)/income before
investment gain		 (3,775,411) - 29,022 (3,746,389) (1,297,965)
Net gain on investments 19 590,122 - - 590,122 1,384,572
Gains/(losses) on revaluation of
investment properties		 16 141,350 - - 141,350 (10,324)
Net (expenditure)/income (3,043,939) - 29,022 (3,014,917) 76,283
Transfers between funds 15 (780,892) 771,628 9,264 - -
Net movement in funds (3,824,831) 771,628 38,286 (3,014,917) 76,283
Reconciliation of funds:
Balances brought forward 8,854,533 25,600,002 51,260 34,505,795 34,429,512
Fund balances carried forward 23 5,029,702 26,371,630 89,546 31,490,878 34,505,795

All of the activities of the charity are classed as continuing.

The statement of financial activities includes all gains and losses recognised during the year.

The accompanying accounting policies and notes on pages 46-68 form part of these financial statements.

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Balance Sheet as at 31 December 2025

Note 2025
£		 2024
£
Fixed assets
Tangible assets 17 768,933 752,346
Investment Properties 18 1,398,836 1,275,662
Investments 19 28,642,557 27,767,398
30,810,326 29,795,406
Current assets
Stocks 1,838 1,236
Debtors: due within one year 21 216,193 277,166
Debtors: due after one year 21 35,270 35,984
Current asset investments 20 - 25,000
Cash at bank and in hand 936,299 4,741,813
1,189,600 5,081,199
Creditors: amounts falling due within 22 (509,048) (370,810)
one year
Net current assets 680,552 4,710,389
Net assets 31,490,878 34,505,795
Funds
Unrestricted funds 23 5,029,702 8,854,533
Endowment funds 23 26,371,630 25,600,002
Restricted funds 23 89,546 51,260
31,490,878 34,505,795

The financial statements were approved and authorised for issue by the Board of Trustees on 30 July 2026

Carole Langrick Chair of CISWO 2014

Charity numbers: 1015581 / SC039529

The accompanying accounting policies and notes on pages 46-68 form part of these financial statements.

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Cash flow statement for the year ended 31 December 2025

Note 2025
£		 2024
£
Cashflows from operating activities
Net cash used in operating activities 30 (4,091,062) (2,442,349)
Cashflows from investing activities
Dividends and interest from investments 511,334 1,080,289
Proceeds from the sale of property and equipment 145,328 -
Purchase of property and equipment (86,077) (17,001)
Purchase of social investment property - (60,217)
Purchase of investments (36,263,859) (9,049,979)
Proceeds of sale of investments 36,567,205 12,533,017
Decrease/(increase) in investments cash balance (588,383) 704,065
Net cash provided by investing activities 285,548 5,190,174
Change in cash and cash equivalents in the reporting period (3,805,514) 2,747,825
Cash and cash equivalents at the beginning of the reporting period 4,741,813 1,993,988
Cash and cash equivalents at the end of the reporting period 31 936,299 4,741,813

The accompanying accounting policies and notes on pages 46-68 form part of these financial statements.

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Notes to the financial statements

1. Charity Information

The charity is constituted under a supplemental trust deed, and is a registered charity, number 1015581. In addition, the charity is also registered as a charity in Scotland, registered number SC039529. The charity constitutes a public benefit entity.

The registered office is The Old Rectory, Rectory Drive, Whiston, Rotherham, S60 4JG.

2. Basis of Preparation

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards including Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act).

The accounts have been prepared to give a “true and fair” view and have departed from the Charities (Accounts and Report) Regulations 2008 only to the extent required to provide a “true and fair” view. This departure has involved following 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for investment properties and certain financial instruments as specified in the accounting policies below.

The financial statements are presented in Sterling.

Preparation of accounts - going concern basis

The principal financial risk facing the charity is its ability to generate sufficient income to cover expenditure incurred in fulfilling the objectives of the charity.

The financial statements have been prepared on a going concern basis after taking in to account future planned deficit budgets and cash forecasts covering a period of at least twelve months from the date of this report.

The trustee, having reviewed cashflow forecasts to June 2027 does not believe that there are any material uncertainties which cast significant doubt on the ability of the charity to continue as a going concern.

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3. Significant judgements and estimates

The preparation of the financial statements requires the trustee to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenditure during the year.

The following judgements have had the most significant effect on amounts recognised in the financial statements:

Consideration has been given to the appropriate accounting treatment and valuation of the investment properties which are recognised on the balance sheet.

The accounting treatment adopted is based on the current use of each property and its classification under the organisation’s land and property management policy.

The policy defines the principal reason for the retention of property as securing the provision of recreational facilities where they are needed and utilised. Each property is categorised under the following:-

i) Fixed Assets - Investment Properties

a) Properties not in or with any prospect of being in recreational use, therefore being retained for future capital appreciation.

b) Properties not in recreational use leased to third parties on a commercial basis.

These properties are included at their fair value at the balance sheet date, with any change in value being recognised in the statement of financial activities during the year.

ii) Fixed Assets – Social Investments

Property leased for recreational use, largely on long term peppercorn rentals.

These properties are included at their original cost less any impairment.

iii) Current asset – Investment Properties

Property no longer needed or utilised for recreational purposes, where a decision has been made to dispose of the property.

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Notes to the financial statements

4. Principal accounting policies

a) Fund accounting

The charity’s funds are detailed in note 23 and are:

Endowment funds

The Endowment Fund comprises the core reserve of the charity, which is invested to provide income used to deliver the charity’s objects.

The Permanent Endowment Fund represents fixed assets that cannot be realised for revenue purposes.

None of the capital of the endowment funds can be utilised without the consent of the Charity Commission.

Restricted funds

Restricted funds represent grants and donations received which are given by the donor for specific purposes.

Unrestricted funds

The Unrestricted Fund represents income which is expendable at the absolute discretion of the trustee to deliver the objects of the charity.

b) Income

All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is probable assurance of receipt.

Donations and legacies

Donations relate to all income from donors. Donations are recognised on receipt.

Charitable activities

Charitable activities income includes income generated from the provision of services to other charities, organisations and individuals and from the rental of investment and social investment properties.

Other trading activities

Other trading activities’ income relates to the management charge to CISWO Trading Limited for the provision of staff and administrative support costs incurred in relation to that service.

Investment income

Investment income includes income generated by the listed investment portfolio and is accounted for when receivable.

Other income

Other income relates to all other sources of income including ad hoc sums. Other income may include charitable asset transfers which relate to residual proceeds received under the governing instrument of dissolved mining charities. Other income is only recognised when received.

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c) Expenditure

Expenditure is accounted for under the accruals basis and recognised when the charity has a legal or constructive obligation to make a payment. The charity has the following expenditure streams:

Investment Manager Fees

Fees comprise costs attributable to managing the listed investment portfolio and raising investment income.

Charitable activities expenditure

Costs associated with the provision of support for former miners’ and their dependent families, support for mining communities and the protection of recreational land and delivery of external grant funded projects. These costs include service delivery staff, costs of services and other direct costs.

Expenditure on the provision of grants is included within each activity and is recognised on the following basis:

Other expenditure

Other expenditure includes a contribution to administrative costs the charity is required to make to the Industry Wide Staff Superannuation Scheme.

Support Costs

These costs relate to central functions such as finance function, IT, HR, legal and audit (governance) and overarching management costs.

These costs are allocated proportionately based on the number of employees within each charitable activity. Finance costs are allocated in relation to the usage of this function by each charitable activity.

Governance costs are those associated with meeting the constitutional and statutory requirements of the charity, including audit fees.

d) Operating leases

Operating lease rentals are charged to expenditure over the lease period.

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Notes to the financial statements

e) Tangible fixed assets and depreciation

Tangible assets are stated at cost, net of depreciation.

Depreciation is provided on a straight line basis to write off the cost of fixed assets over their estimated useful lives at the following rates:

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. No such loss has been identified.

f) Investments

Investments comprise investments listed on the stock exchange. These investments are measured at market value at the balance sheet date. Investment gains and losses are shown in the statement of financial activities.

g) Investment Properties

Investment properties are initially recognised at cost, then subsequently at fair value at the balance sheet date, where the fair value reflects the current use of the property.

Where an investment property has been categorised as a social investment the property is recognised at cost less any impairment.

h) Stocks

Stocks are stated at the lower of cost and net realisable value.

i) Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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j) Creditors and provisions

Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions are recognised when the charity has a present obligation (legal or constructive) as a result of a past event, it is probable that the charity will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

k) Pension costs

Current employees - The charity contributes to a defined contribution scheme for current employees who wish to participate in it. Costs are recognised as an expense in the periods during which services are rendered by employees.

Former employees - The charity is also required to contribute to the Industry Wide Coal Staff Superannuation Scheme (IWCSSS), a defined benefit scheme for the benefit of former employees. The scheme closed to new entrants on 1 January 1995. There are no current employees in this scheme.

Costs and contributions made to the IWCSSS are determined by the scheme actuary and are not within the charity’s control.

l) Taxation

The fund is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within categories covered by Part 11, Chapter 3, CTA 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes and as such has no liability to tax arises on its charitable activities.

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Notes to the financial statements

5. Net expenditure

Net expenditure is stated after charging:

2025 2024
£ £
Auditor's remuneration - audit of the financial statements 20,700 20,100
Depreciation on tangible fixed assets 64,710 65,909
Net (profit)/loss on disposal of tangible fixed assets (97,373) 1,565
Rentals under operating leases 44,880 57,457

6. Donations and legacies

Donations and legacies received during the year were as follows:

2025 2024
£ £
Donations and legacies - unrestricted 2,850 3,019

7. Charitable Activities

2025 2024
£ £
Administrative support grants 60,278 57,960
Services provided for individuals 162,585 195,017
Rental income from land and property 297,048 283,207
Funding received for external project 79,112 -
599,023 536,184

The comparative analysis of services provided for individuals has been restated in order to be comparable with the presentation adopted in 2025. Included within rental income from land and property is £Nil of restricted income (2024: £11,050). Included within funding received for external project is £79,112 of restricted income (2024: £Nil), this funding is for employment and other direct costs incurred in delivering a specific project on behalf of a miners’ welfare.

8. Other Trading Activities

2025 2024
£ £
Management charge to CISWO Trading - unrestricted 168,339 145,838

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9. Other income

2025 2024
£ £
Profit/(loss) on sale of tangible fixed assets 97,373 (1,565)
Charitable asset transfers - 276,337
Sundry income 727 4,175
98,100 278,947

All other income is unrestricted in both the current and prior year. In 2024 income was received from charitable asset transfers being ad hoc amounts received under the governing instrument of dissolved mining charities.

10. Trustees and employees

2025 2024
£ £
Wages and salaries 1,886,637 1,779,408
Social security costs 195,754 138,993
Pension contributions 181,902 175,877
2,264,293 2,094,278

Emoluments of employees over £60,000

2025 2024
Number Number
£70,000 - £79,999 1 -
£90,000 - £99,999 1 1
£110,000 - £119,999 1 1

The average number of employees during the year was:

2025 2024
Number Number
Supporting former miners and their dependent families 36 37
Supporting mining charities 13 11
Protecting recreational land 2 1
Management and administration 9 9
60 58

In addition, the charity engages 2 casual employees to provide assistance during periods of staff leave to ensure the charity’s services are maintained.

None of the trustees of CISWO 2014 (the corporate trustee) received any remuneration from the charity in the year (2024: none). No expenses were reimbursed by the charity to the trustees of CISWO 2014 in the year ended 31 December 2025 (2024: none).

The total remuneration cost (including employer NI and pension contribution) of the key management personnel of the charity was £335,357 (2024: £291,957), being the Chief Executive, Finance Director and Business Development Director (appointed May 2024).

During the year there were no redundancy payments made. (2024: £Nil).

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Notes to the financial statements

11. Investment manager fees

2025 2024
£ £
Investment Manager fees 120,506 123,459

12. Expenditure on charitable activities

12a Expenditure on charitable activities

2025
Activities
undertaken
directly		 Grant funding
provided (see
note 12c)		 Support
costs		 Total
£ £ £ £
Supporting former miners' and their dependent families 1,603,082 139,089 410,894 2,153,065
Supporting mining charities 652,501 176,250 212,387 1,041,138
Protecting recreational land 171,570 - 73,738 245,308
External project 33,258 - - 33,258
2,460,411 315,339 697,019 3,472,769

Expenditure against restricted funds included above is: supporting former miners’ and their dependent families, £16,832 and external project £33,258.

2024
Activities
undertaken
directly		 Grant funding
provided		 Support
costs		 Total
£ £ £ £
Supporting former miners' and their dependent families 1,462,487 168,586 441,733 2,072,806
Supporting mining charities 577,576 154,785 194,903 927,264
Protecting recreational land 121,886 - 61,566 183,452
2,161,949 323,371 698,202 3,183,522

Expenditure against restricted funds included above is: supporting former miners’ and their dependent families, £61,329.

54

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12b Support costs expenditure on charitable activities

Support costs are allocated to each charitable activity in accordance with the accounting policy on page 49.

2025

Supporting Supporting Protecting
former miners' mining recreational
and dependants charities land Total
£ £ £ £
General management 190,256 68,703 10,570 269,529
Finance 44,485 80,073 53,382 177,940
Human resources 67,767 24,471 3,765 96,003
Marketing 21,626 7,810 1,201 30,637
Information technology 51,848 18,723 2,880 73,451
Governance (including audit & legal) 34,912 12,607 1,940 49,459
410,894 212,387 73,738 697,019

General management costs mainly include employment costs of key management personnel and overheads that cannot be attributed directly to an activity.

2024

Supporting
former miners'
and dependants		 Supporting
mining
charities		 Protecting
recreational
land		 Total
£ £ £ £
General management 194,866 57,933 5,267 258,066
Finance 42,309 76,156 50,770 169,235
Human resources 99,323 29,528 2,684 131,535
Marketing 24,087 7,161 652 31,900
Information technology 49,584 14,741 1,340 65,665
Governance (including audit & legal) 31,564 9,384 853 41,801
441,733 194,903 61,566 698,202

The comparative analysis of support costs has been restated in order to be comparable with the presentation adopted in 2025.

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Notes to the financial statements

12c Grant expenditure

Grant expenditure
2025 2024
Grants to Grants to Grants to Grants to
individuals institutions Total individuals institutions Total
£ £ £ £ £ £
Supporting former miners' and their
dependent families		 139,089
-		 -
176,250		 139,089
176,250		 168,586
-		 -
154,785		 168,586
154,785
Supporting mining communities 139,089 176,250 315,339 168,586 154,785 323,371

Grants are offered as part of a package of support to individuals and institutions and is not the primary way that the charity meets its charitable objectives.

Personal welfare services for individuals’ grants were provided, to support former miners and their families (£114,484), to support students in higher education (£19,500) and to support social groups (£5,105).

Grants were provided to 16 miners’ welfare charities in 2025 to support various capital projects, these were awarded to the following charities:

Charity Registration
number		 Value
£
Mexborough Miners Welfare Institute and Recreation Ground 523779 50,000
Kilburn Miners' Welfare Trust 520563 20,000
Linby Miners Welfare Recreation Ground 522229 16,486
Llay Miners Welfare Institute and Recreation Ground 524064 11,655
Ifton Miners' Welfare Institute and Recreation Ground 522565 10,000
Elphinstone Miners' Charitable Society SC015079 9,258
Birch Coppice Miners' Social Welfare Centre 522921 8,538
Dodworth Miners Welfare Scheme 523584 7,926
MacMerry Miners Charitable Society SC021013 7,020
Seven Sisters Miners Welfare Society 524159 6,639
Easthouses Miners Charitable Society SC002122 6,204
Hetton Town Trust 520822 5,900
Bestwood Miners Welfare Institute and Recreation Ground 522184 5,588
Other grants of £5,000 or less 11,036
176,250

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12c Grant expenditure (cont)

Grants with a value of £5,000 or less were awarded to:

Charity Registration
number
Cwmgwili Miners' Welfare Association 523889
Gelligaer and District Welfare Association 218819
Penrhiwceiber Institute and Community Society 1133618

2024

In 2024 grants were provided to 10 miners’ welfare charities totalling £154,785, details of the recipients are provided in the prior year information in note 33d on page 68.

13. Other Expenditure

2025 2024
£ £
IWCSSS administration 32,760 35,241
32,760 35,241

The charity is required to contribute to the administration costs of the IWCSSS. The contribution level is determined by the scheme actuary.

14. Exceptional item – pension funding

2025 2024
£ £
IWCSSS funding 1,500,000 -
1,500,000 -

The charity is required to meet any future deficits arising on the Industry Wide Coal Staff Superannuation Scheme (IWCSSS). During the year, the charity made the decision, along with the Trustee of the IWCSSS, to transfer the risk associated with funding the future pension obligations to an insurance company, thus removing the uncertainty arising from the potential future liabilities whilst securing the pensions of those former employees. As the sponsoring employer, CISWO was required to make an initial payment to the IWCSSS of £1,500,000, equating to the current deficit on the scheme, as valued by the scheme’s actuaries. Further costs are anticipated in relation to this transaction but at present these are unable to be quantified with any certainty. Hence, they are disclosed as a contingent liability at the balance sheet date (see note 29).

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Notes to the financial statements

15. Transfers between funds

2025

Unrestricted Unrestricted Endowment Restricted
Fund Fund Fund Total
£ £ £ £
Transfer to endowment fund for investment movement (see
note below)		 (969,156) 969,156 - -
Transfer of Kings Silver Jubilee and Coronation Cottages 188,264 (197,528) 9,264 -
endowment fund (see note 23)
(780,892) 771,628 9,264 -

The investments of the Endowment Fund are held within a unitised fund. Each year the unitised fund is analysed between unrestricted fund and endowment funds. The net asset value of the endowment fund is detailed below at the start and end of the year, and the calculation of the transfer value is shown below:

1 January 31 December
2025 2025
£ £
Unitised fund investments 25,052,010 26,021,166
Net value of investments in Endowment Fund 25,052,010 26,021,166
Movement of net asset value in year 969,156
Transfer value transferred to unrestricted fund 969,156

16. Revaluation of Investment Properties

2025 2024
£ £
Increase in value of fixed asset investment properties 141,350 4,676
Increase/(decrease) in value of current asset investment properties - (15,000)
141,350 (10,324)

Further details are provided in notes 18 and 20.

58

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17. Tangible fixed assets

Freehold
property		 Leasehold
property		 Furniture
and
equipment		 Motor
vehicles		 Total
£ £ £ £ £
Cost
At 1 January 2025 1,282,494 13,655 442,249 57,000 1,795,398
Additions - - 25,355 60,722 86,077
Disposals - - (31,192) - (31,192)
At 31 December 2025 1,282,494 13,655 436,412 117,722 1,850,283
Depreciation
At 1 January 2025 632,409 5,462 348,181 57,000 1,043,052
Charge for the year 38,036 2,731 23,943 - 64,710
Disposals (26,412) - (26,412)
At 31 December 2025 670,445 8,193 345,712 57,000 1,081,350
Net book amount
At 31 December 2025 612,049 5,462 90,700 60,722 768,933
At 31 December 2024 650,085 8,193 94,068 - 752,346

18. Investment properties

Investment
properties		 Social
investments		 Total
£ £ £
Cost
At 1 January 2025 1,051,676 223,986 1,275,662
Transfer from current asset investments 25,000 - 25,000
Disposals (43,176) - (43,176)
Revaluation in the year 141,350 - 141,350
At 31 December 2025 1,174,850 223,986 1,398,836

Investment properties represent 12 (2024:13) properties leased on commercial rentals to third parties or retained for capital appreciation. During the year, one property previously classified as a current asset investment has been reclassified as a fixed asset investment following re-evaluation of it’s intended use, and two properties consisting of small plots of non-recreational land were disposed of.

All properties have been valued based on open market value based on current use, by CPSL Nottingham Limited as at 31 December 2025.

Social investments are properties in long term recreational use. A total of 213 (2024:213) properties are held on this basis. The organisation is committed to retaining properties for recreational use in the long term.

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Notes to the financial statements

19. Investments and Investment gains/(losses)

Funds held by Investment Managers

2025 2024
£ £
Investments listed on a stock exchange 28,054,174 27,767,398
Cash deposits held within the investment portfolio 588,383 -
Total investments 28,642,557 27,767,398

Quoted UK Stock Exchange Investments

2025 2024
£ £
Market value at 1 January 27,767,398 29,845,887
Additions at cost 36,263,859 9,049,979
Disposal proceeds (36,567,205) (12,533,017)
Net investment gain/(loss) 590,122 1,404,549
Market value at 31 December 28,054,174 27,767,398
Historical cost at 31 December 22,439,246 22,049,327

The difference between market value and historical costs is included within unrestricted funds and endowments.

20. Current Asset Investment Properties

Total
£
Cost
At 1 January 2025 25,000
Transfer to fixed asset investments (25,000)
At 31 December 2025 -

During the year the current asset investment property has been reclassified as a fixed asset investment as it is the trustee’s intention to retain the property for the foreseeable future.

The property was valued based on an open market value at 31 December 2025 by CPSL Nottingham Limited.

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21. Debtors

Due within one year:

2025 2024
£ £
Trade debtors 15,336 29,685
Amounts owed by group undertakings 55,707 99,779
Amounts due from Regional Trust and Convalescent Funds 22,790 14,857
Prepayments 110,468 106,845
Other debtors 11,892 26,000
216,193 277,166

Due after more than one year:

2025 2024
£ £
Other debtors 35,270 35,984
35,270 35,984

22. Creditors: amounts falling due within one year

2025 2024
£ £
Other creditors and accruals 440,248 317,792
Social security and other taxes 46,181 40,272
Holiday pay provision 22,619 12,746
509,048 370,810

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Notes to the financial statements

23. Analysis of funds

Analysis of net assets between funds as at the year ended 31 December 2025

Unrestricted Endowment Restricted Total Total
fund funds funds 2025 2024
£ £ £ £ £
Fixed assets
Tangible fixed assets 418,469 350,464 - 768,933 752,346
Investment properties 1,398,836 - - 1,398,836 1,275,662
Investments 2,621,391 26,021,166 - 28,642,557 27,767,398
4,438,696 26,371,630 30,810,326 29,795,406
Current assets
Stock 1,838 - - 1,838 1,236
Debtors 251,463 - - 251,463 313,150
Investment properties - - - - 25,000
Cash 846,753 - 89,546 936,299 4,741,813
1,100,054 - 89,546 1,189,600 5,081,199
Current liabilities
Amounts falling due within one year (509,048) - - (509,048) (370,810)
Net current assets 591,006 - 89,546 730,552 4,710,389
Net assets 5,029,702 26,371,630 89,546 31,490,878 34,505,795

62

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Summary of fund movements for the year ended 31 December 2025

Fund balances Fund balances
brought Gains/ carried
forward Income Expenditure Transfers losses forward
£ £ £ £ £ £
Unrestricted funds 8,854,533 1,300,534 (5,075,945) (780,892) 731,472 5,029,702
Restricted funds
Kings Silver Jubilee & Coronation Cottages (9,264) - - 9,264 - -
Four Collieries 43,692 - - - - 43,692
North Derbyshire NUM 16,832 - (16,832) - - -
External grants - 79,112 (33,258) - - 45,854
Total restricted funds 51,260 79,112 (50,090) 9,264 - 89,546
Endowment funds
Kings Silver Jubilee & Coronation Cottages 197,528 - - (197,528) - -
Permanent endowment 350,464 - - - - 350,464
Endowment 25,052,010 - - 969,156 - 26,021,166
Total endowment funds 25,600,002 - - 771,628 - 26,371,630
Total funds 34,505,795 1,379,646 (5,126,035) - 731,472 31,490,878

The charity has the following funds:

Unrestricted Fund

This is the core operational fund of the charity through which all its operational activity is delivered.

Four Collieries Fund (Restricted Funds)

This fund was established by gift transfer from the United Collieries Benevolent Fund to be used for the relief of hardship in the East Midlands Coalfield.

North Derbyshire NUM Fund (Restricted Funds)

These funds were transferred to the organisation in 2015. The funds have been used to benefit the mining communities of North Derbyshire.

External project (restricted fund)

Funding has been received in the year for employment and other direct costs incurred in delivering a specific project on behalf of a miners’ welfare.

King's Silver Jubilee and Coronation Cottages Permanent Endowment Fund

On 26 February 2025 the Trustee made a resolution under Section 282 of the Charities Act 2011 to amend the Charity Commission Scheme to allow for the permanent endowment fund to be freed from the restrictions with respect to the expenditure of capital. On 5 March 2025 the Charity Commission confirmed it concurred with the resolution and that the trustee can spend the capital as if it were income. Subsequently this endowment fund was transferred to unrestricted fund of the charity.

Permanent Endowment Fund

This fund is comprised solely of fixed assets that cannot be realised for revenue purposes.

Endowment Fund

This is the core reserve of the charity, which is invested to provide income and used for delivery of the charity’s objectives.

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Notes to the financial statements

24. Merger with the King's Silver Jubilee and Coronation Cottages

Under a Charity Commission Scheme for England and Wales dated 1 January 2010 the King’s Silver Jubilee and Coronation Cottages is to be treated as forming part of the Coal Industry Social Welfare Organisation for the purposes of Part II (registration) and Part VI (accounting) of the Charities Act 1993.

25. Pension schemes

Defined Contribution Scheme

The charity contributes to defined contribution scheme on behalf of current employees. Contributions made to this scheme on behalf of employees was £181,902 (2024: £175,877).

Industry Wide Coal Staff Superannuation Scheme

The charity is required to contribute to the Industry Wide Coal Staff Superannuation Scheme (IWCSSS), a defined benefit scheme for the benefit of 59 former employees. The assets of the scheme are administered by pension scheme trustees in a fund independent from that of the charity. The scheme was closed to new entrants on 1 January 1995. There are no current employees in this scheme.

The charity is required to contribute annually to the administration cost of the scheme. The cost for the year for the administration of this scheme was £32,760 (2024: £35,261).

26. Related party transactions

The Trustee, The Coal Industry Social Welfare Organisation 2014 (CISWO 2014), is also the sole member of CISWO Trading Limited.

During the year ended 31 December 2025:

The charity charged CISWO Trading Limited a management charge of £168,339 (2024: £145,838) for provision of staff and administrative support. At 31 December 2025, CISWO Trading owed the charity £50,557 (2024: £87,503).

The charity incurred costs of £Nil (2024: £1,034) on behalf of the trustee, CISWO 2014 in relation to its administration. At 31 December 2025, CISWO 2014 owed £5,000 (2024: £12,127) to the charity.

In addition, CISWO received a grant of £32,460 (2024: £69,182) from the Yorkshire Miners Welfare Trust Fund (charity no 516535), 1 of the Trustees of that Fund is also a Trustee of CISWO 2014.

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27. Operating lease commitments

The total lease commitments under non-cancellable operating leases is as follows:

Land and
Buildings		 Other Land and
Buildings		 Other
2025 2025 2024 2024
£ £ £ £
In less than one year 18,750 11,814 18,750 24,256
Between two and five years 15,625 4,967 34,375 14,901
34,375 16,781 53,125 39,157

28. Operating lease receipts

Minimum lease receipts under non-cancellable operating leases to be received over the remaining term of the leases:

2025 2024
£ £
In less than one year 232,663 234,278
Later than one year and not later than five years 589,110 594,518
Later than five years and up to ninety six years 5,431,360 5,501,801
6,253,133 6,330,597

29. Contingent liabilities and capital commitments

Contingent Liability

As disclosed in note 14, the CISWO section of the IWCSSS Scheme is in the process of being transferred to an insurance company. As the sponsoring employer CISWO will be required to make a further payment to the IWCSSS to meet the costs of the transaction. The cost and timing cannot be estimated with any reliability and as such has not been recognised in 2025.

Capital Commitments

There were no capital commitments as at 31 December 2025 (2024: £Nil).

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Notes to the financial statements

30. Reconciliation of net (expenditure)/income to net cash flow from operating activities

2025 2024
£ £
Net (expenditure)/income for the reporting period (3,014,916) 76,283
Adjustments for:
Investment income (511,334) (1,080,289)
Investment gain (590,122) (1,404,549)
Depreciation 64,710 65,909
(Profit)/loss on sale of tangible fixed assets (97,373) 605
(Increase)/decrease in value of property (141,350) 10,324
(Increase)/decrease in stock (602) 22
Decrease/(increase) in debtors 61,687 (312)
Increase/(decrease) in creditors 138,238 (110,342)
Net cash used in operating activities (4,091,062) (2,442,349)

31. Analysis of cash and cash equivalents

2025 2024
£ £
Cash in hand 936,299 4,741,813
Total cash and cash equivalents 936,299 4,741,813

32. Controlling related party

The Coal Industry Social Welfare Organisation 2014 (charity no. 1160157 and Company no. 09113084) is the sole corporate trustee and the controlling party of the Coal Industry Social Welfare Organisation.

Copies of the parent charity's consolidated financial statements may be obtained from the charity at The Old Rectory, Rectory Drive, Whiston, Rotherham, S60 4JG.

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33. Prior Year Information

33a. Statement of financial activities for the year ended 31 December 2024

Unrestricted Endowment Restricted Total
Funds Funds Funds 2024
£ £ £ £
Income from:
Donations and legacies 3,019 - - 3,019
Charitable activities 525,134 - 11,050 536,184
Other Trading activities 145,838 - - 145,838
Investment income 1,080,289 - - 1,080,289
Other income 278,947 - - 278,947
Total income 2,033,227 - 11,050 2,044,277
Expenditure on:
Investment Managers fees 123,459 - - 123,459
Charitable activities 3,157,454 - 61,329 3,218,783
Total expenditure 3,280,913 - 61,329 3,342,242
Net (expenditure) before investment gain/(loss) (1,247,686) - (50,279) (1,297,965)
Net gain/(loss) on investments 1,384,572 - - 1,384,572
Net income/(expenditure) carried forward 136,886 - (50,279) 86,607
Transfers between funds (1,136,873) 1,136,873 - -
Net movement in funds before revaluations (999,987) 1,136,873 (50,279) 86,607
Losses on revaluation of investment properties (10,324) - - (10,324)
Net movement in funds (1,010,311) 1,136,873 (50,279) 76,283
Reconciliation of funds:
Balances brought forward 9,864,844 24,463,129 101,539 34,429,512
Fund balances carried forward 8,854,533 24,600,002 51,260 34,505,795

33b. Analysis of net assets between funds as at 31 December 2024

Unrestricted Endowment Restricted Total
fund funds funds 2024
£ £ £ £
Fixed assets
Tangible fixed assets 401,876 350,470 - 752,346
Investment properties 1,275,662 - - 1,275,662
Investments 2,698,556 25,052,010 16,832 27,767,398
4,376,094 25,402,480 16,832 29,795,406
Current assets
Stock 1,236 - - 1,236
Debtors 313,150 - - 313,150
Current asset investment properties 25,000 - - 25,000
Cash 4,509,863 197,522 34,428 4,741,813
4,849,249 197,522 34,428 5,081,199
Current liabilities
Amounts falling due within one year (370,810) - - (370,810)
Net current assets 4,478,439 197,522 34,428 4,710,389
Net assets 8,854,533 25,600,002 51,260 34,505,795

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Docusign Envelope ID: 8726560D-B8BB-8C63-82B7-575111144FBD

Notes to the financial statements

33. Prior Year Information (continued)

33c Summary of fund movements for the year ended 31 December 2024

Fund balances
brought forward		 Fund balances
brought forward		 Income Expenditure Transfers Gains/
losses		 Fund balances
carried forward
£ £ £ £ £ £
Unrestricted funds 9,864,844 2,033,227 (3,280,913) (1,136,873) 1,374,248 8,854,533
Restricted funds
Kings Silver Jubilee & Coronation Cottages (11,124) 11,050 (9,190) - - (9,264)
Four Collieries 43,692 - - - - 43,692
North Derbyshire NUM 68,971 - (52,139) - - 16,832
Total restricted funds 101,539 11,050 (61,329) - - 51,260
Endowment funds
Kings Silver Jubilee & Coronation
Cottages		 197,528 - - - - 197,528
Permanent endowment 350,464 - - - - 350,464
Endowment 23,915,137 - - 1,136,873 - 25,052,010
Total endowment funds 24,463,129 - - 25,600,002
Total funds 34,429,512 2,044,277 (3,342,242) - 1,374,248 34,505,795

33d Supporting mining communities grant expenditure in 2024

Grants were provided to 10 miners welfare schemes in 2024

Charity Registration
number		 Value
£
Carway and District Welfare Organisation 524016 47,913
Easington Social Welfare Centre 520774 25,008
Ton Pentre and District Recreation Association CIO 1157358 20,000
Pontyates Miners Welfare Association 228339 20,000
Kinneil Miners Charitable Society SC004200 11,791
Cwlynen Collieries Institute and Memorial Hall 1137112 10,000
Lea Hall Miners Welfare Centre 522715 7,747
Markham Miners Welfare Scheme 239438 7,096
Other grants of less than £5,000 5,230
154,785

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Legal and administration

Charity registration number: 1015581 Scottish charity registration number: SC039529 Registered office: The Old Rectory Rectory Drive Whiston ROTHERHAM S60 4JG Website: www.ciswo.org.uk Trustee: The Coal Industry Social Welfare Organisation 2014 The Trustees of CISWO 2014 during the year were: C Langrick (Chair) P Carragher JP Considine (appointed 8 June 2026) The Very Reverend R G Cooper (resigned 25 February 2026) J Dunn C Kaye M Laing H Lentle M MacDonald R Nield S Shaw D Steer Secretary: N M Didlock Bankers: Lloyds Bank PLC 1 High Street SHEFFIELD S1 2GA Solicitors: Shakespeare Martineau Irwin Mitchell Waterfront House 2 Millsands Waterfront Plaza Riverside East Nottingham SHEFFIELD NG2 3DQ S3 8DT Investment Manager: Sarasin and Partners LLP 50 George Street London W1U 7DY Auditor: Saffery LLP 10 Wellington Place Leeds LS1 4AP 69

Docusign Envelope ID 8726560D-B8BB-8C63-82B7-575111144FBD •iswo THE COAL MINING CHARITY 70