Penwortham Aid in Sickness Fund

Penwortham Aid Fund – Helping Penwortham Residents

Penwortham Aid in Sickness Fund

Annual Report to Penwortham Town Council

Tuesday 1st March 2016

The Penwortham Aid in Sickness fund have funds available generally to assist the sick and needy persons of the Town of Penwortham by supplementing in any way possible the National Health Service in the provision of benefits not covered by that service.

For the ‘Benefit of Sick Persons’ the Trustees of the charity can apply the yearly income of the Charity for the benefit of the sick and needy persons resident in the town of Penwortham in all or any of the following ways as the Trustees think fit, namely;-

1. The supply of special food and medicine, medical comforts, extra bedding, fuel and medical and surgical appliances.
2. Provision of funds to assist with domestic needs.
3. The provision of help for deprived young people.
4. The expense of convalescence, either in the home or away.
5. The relief of suffering, disability or infirmity among sick or needy persons resident as aforementioned by such means as the Trustees from time to time see fit.

Anyone wishing to make an application to this charity or knowing anyone that may wish to make an application to the charity can either apply through the town council office, and the application will be forwarded on or directly to the charity to;

The Hon. Secretary,

Mrs Linda Woollard

9 Oaklands Drive

Penwortham

Annual Report for the year

1st July 2014– 30th June 2015.

Penwortham Aid in Sickness Fund

• Charity Registration Number 221580

(A scheme appointed by and regulated by the Charity Commissioners of England and Wales)

• Address for correspondence

Mrs Linda Woollard

9 Oaklands Drive

Penwortham

• Trustees

Hon. Chairman, Mr David Howarth

Hon. Secretary, Mrs Linda Woollard

Hon. Treasurer, Mr Steve Caswell

Mrs Audrey Pickstone

Mrs Marie Fryer

Mrs Barbara Baird

Mrs Rosemary Robinson

Mrs Doreen Baker

Mr Alan Needham

Mrs Renee Blow

Origin of the Fund

In 1953 the State assumed the principal functions of the Nursing Association throughout the country and in consequence of this the Trustees found themselves in possession of considerable assets which had been the properties of Penwortham Nursing Association.

Following consultations with the Charity Commissioners of England and Wales as to the future employment of these funds a scheme was evolved and is now established as the “Penwortham Aid in Sickness Fund.” The capital monies were vested in the name of the “Official Trustees of Charitable Funds” and the administration of the fund and the distribution of the income derived therefrom were left to the Trustees, having regard to the objects and the rules of the fund.

Over previous years many hundreds of pounds have been allocated from the fund for the benefit of Penwortham people during and after illness, and the trustees and willing and even anxious to assist needy cures were the sick may be helped back to good health.

This information is given as a reminder that this useful and valuable fund exists and is open to application from persons residing in the town who may be eligible for benefit.

Objects of the Scheme

Generally to assist the sick and needy persons of the Town of Penwortham by supplementing in any way possible the National Health Service in the provision of benefits not covered by that service.

Application of Income

1. Expenses of management – The Trustees shall first defray out of the income of the Charity all the proper costs, charges and expenses of and incidental to the administration and management of the Charity.

1. Benefit of Sick Persons – subject to the payments aforementioned in clause 1 of the application of income, the Trustees shall apply the yearly income of the Charity for the benefit of the sick and needy persons resident in the town of Penwortham in all or any of the following ways as the Trustees think fit, namely;-

1. The supply of special food and medicine, medical comforts, extra bedding, fuel and medical and surgical appliances.
2. Provision of funds to assist with domestic needs.
3. The provision of help for deprived young people.
4. The expense of convalescence, either in the home or away.
5. The relief of suffering, disability or infirmity among sick or needy persons resident as aforementioned by such means as the Trustees from time to time see fit.

1. The Trustees may apply income of the Charity as aforementioned in

supplementing relief or assistance provided out of public funds but income

of the Charity shall in no case be applied in relief of public funds or so that

any person may become entitled to recurrent benefit from the Charity.

It will be seen from these provisions that they admit a fairly wide scope of assistance, within the financial limits of the fund, and those wishing to benefit should apply in writing to any of the trustees, who will place the request before all the Trustees at their next meeting or, in case of emergency, the Emergency Committee.

All applicants should rest assured that their cases will be regarded as ‘Strictly Private and Confidential’ by the Trustees.

Financial Review

The funds available for grant donation are those, as agreed by the trustees, raised through the investment of funds. Any other income can be donated in grant form as the trustees see fit.

There was no other income to report during the year 1st July 2014 to 30th June 2015.

Major Risks

As with all financial investments there is risk. The investment of the funds of this charitable fund are made through Blackrock Management Investment UK who advise the trustees ;-

• Caution remains the order of the day until some of the current

economic and financial challenges appear to have been fully resolved.

• Blackrock’s global investment team and their ‘best in class’ risk

management tools strive to identify diverse, deliberate and risk

appropriate investment opportunities in a bid to generate maximum

long term returns.

• Investors are encouraged to remain focused on the long term and to

rely on the basic tenets of staying fully invested

In conclusion it would appear that the advice from the management

investment team is to remain with the current investments and to ‘ride out’

the current situation in the world finance markets

Assets / Income

As of 30th June 2015 the fund held the following shares invested in the

name : Penwortham Aid in Sickness Fund A/C Number 0004041125

Charinco Common Investment Fund Income;

5,322.517 shares realising a value of £10,011.65

637 shares realising a value of £ 1,198.20

Charishare Common Investment Fund Income;

5,029.517 shares realising a value of £24,775.40

2,375.249 shares realising a value of £11,700.48

Giving a total investment value of £47,685.373

The investments are managed by;

Blackrock Investment Management UK Limited

Registered in England No. 2020394

And balances held in the Nat West Bank as of30th June 2015 £3267.84

.

Statement of Financial Affairs for the Penwortham Aid in Sickness Fund for the year 1st July 2013 to 30th June 2014

Financial Supporting Statement

The donations of £1107.25.00 made by the trustees during this year were made in accordance with clause 2, of the Application of Income policies.

It should also be noted that during this period of financial unrestand disquiet the income for 2015/2016may well be less than that experienced in previous year and should be monitored closely.

Conclusion

Whilst the Penwortham Aid in Sickness Fund is still in a relatively strong position with regard having investment funds with only the interest from these investments being awarded as grants, the precarious situation of the financial markets may mean that interest over the next twelve months may be less and as a consequence the amount of donations awarded will have to be fewer, or smaller.

There are, of course, other fund raising opportunities that the charity could undertake, which would increase the amount available to donate. These could be investigated if the trustees consider the income from the investments does not meet the demand for grants from the residents of the town of Penwortham

The Penwortham Aid in Sickness Fund is fortunate to have a strong board of Trustees with a willingness to accept the responsibility of the role and an enthusiasm to continue the excellent work of this local charity.

Penwortham Aid in Sickness Fund

(Registered Charity No. 221580)

Hon. Secretary: - Hon. Chairman: - Hon. Treasurer:-

Mrs L Woollard Mr D. Howarth Mr S Caswell

Tel. 01772 745981 Tel. 01772 469995 Tel. 01772 750533

Penwortham Aid Fund – Helping Penwortham Residents