Page 26 - July 2020
P. 26

  THE SALAMANDER | July 2020
REPORT FROM THE CHARITABLE TRUST
The financial position of the Trust remains for this year sound, but no more than sound. The Capital Fund which provides income to the Trust has, like most investments, taken a downturn from £405,000 to £340,000 during the early Pandemic period as financial markets plummeted. In conjunction with JM Finn, the Investment Management Team, the balance between equities and non-equities was moved to a 50/50 split. I am pleased to report that in the last two months the Investment Fund has recovered £20,000 and close monitoring continues.
At present the normal annual audit process is not available due to the COVID-19 restrictions, therefore the Honorary Treasurer is working with Magee Gammon to work towards a suitable conclusion for the 2018-19 accounts. These will be circulated as audited accounts once approved and lodged with the Charity Commission. Stephen Sanders has applied, like many other charities in our position, for an extension to the date to lodge the accounts with the Charity Commission due to the disruption caused by COVID-19.
In March 2020 a team of Trustees led by Bruce Hoad completed a review of giving by all of the Company Members for the first time in 15 years. Charitable giving has been a tradition encouraged to all Members for many years. With the new Charity now a CIO the giving arrangement to the old Charity could not continue, therefore all of the payment arrangements the Members had via Direct Debit and Tele Debit are now cancelled. The new “Giving Pack” was sent to all Members, including an easy application form (and free return
 Chair Graham Maltby
It gives me great pleasure to present to all of the Members of the Company the Annual Report of the Charitable Trust. Despite the challenges that have emerged during the COVID-19 Pandemic the Trust has continued to function utilising an “on-line” Board Meeting process during the lockdown period. The Trustees are grateful to Colin Simpson (Company IT Manager) for facilitating and maintaining availability of this arrangement.
Over the last year Bruce Hoad has been elected as the Vice-Chair to the Trustee Board and Stephen Sanders has been appointed by the Court of Assistants as a new Trustee. Stephen has also been appointed as the Treasurer of the Trust, following the retirement of Ian Parlane. The Trustees would like to place on record a huge thank you to Ian for his years of service and commitment as Treasurer and for his guidance during the transition to the new Charitable Incorporated Organisation.
The Trust became a Charitable Incorporated Organisation (CIO)
with effect from 1st October 2019, providing the Trustees with the benefits and protections similar to that of Directors of Limited Companies. The new Constitution requires that all Trustees are elected by the Court of Assistants for a three-year term on a rolling programme, with the opportunity to serve for a further three years before standing down for a minimum period of one year. The election of Trustees will normally take place at the Court of Assistants Meeting in September each year, but this year through the Emergency Strategic Coordination Board, which will remain operative until at least the end of October 2020.
The Charitable Trust wish to record thanks to Jeremy Beech for his hard work for leading the CIO project, with assistance from Stephen Sanders and Steven Tamcken along with Stone King Solicitors, whose guidance and work has allowed us to achieve CIO status. Once the 2018-19 Charitable Trust Accounts have been audited and lodged with the Charities Commission the old Charitable Trust will be formerly closed.
The Board of Trustees for 2019-20 are:
Graham Maltby QFSM (Chair) Bruce Hoad BEM (Vice-Chair) Stephen Sanders ( Hon Treasurer) Jeremy Beech CBE, QFSM, SBStJ Maurice Heaster MBE
Howard Myers
Ron Murray
Colin Livett BEM
Dr David Crowder
Steven Tamcken (Clerk -Ex-Officio)
   Page 26
















































































   24   25   26   27   28