THE BANKERS BENEVOLENT FUND

Charity Number: 313080
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

Bank Workers Charity (BWC) is the only occupational benevolent fund for all current and former bank employees working in the UK and their families. The Charity's objects are the prevention and relief of poverty and advancement of health amongst bank employees, their families, children and dependents; advancement of education amongst the children of bank employees

Income and expenditure

Data for financial year ending 31 March 2024

Total income:
£2,324,009

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Donations and legacies £579.07k
Charitable activities £0
Other trading activities £0
Investments £1.74m
Other £0

Total expenditure:
£6,554,296

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Raising funds £805.43k
Charitable activities £5.75m
Other £0

£8,675,838 investments gains (losses)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £805.43k
Charitable expenditure £5.75m

People

38 Employee(s)

13 Trustee(s)

Employees with total benefits over £60,000

Number of employees
£60k to £70k 3
£70k to £80k 1
£90k to £100k 2

Fundraising

No information available

Trading

One or more trustees are also directors of the subsidiaries

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

Main way of carrying out purposes is grant making
What the charity does:
  • Education/training
  • The Advancement Of Health Or Saving Of Lives
  • Disability
  • The Prevention Or Relief Of Poverty
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
How the charity helps:
  • Makes Grants To Individuals
  • Provides Advocacy/advice/information
  • Other Charitable Activities
Where the charity operates:
  • Throughout England And Wales
  • Northern Ireland
  • Scotland

Governance

Registration history:
  • 27 February 1964: Standard registration
  • 13 January 1997: Removed (Ceased to exist)
Organisation type:
Charitable company
Other names:
  • THE BANK WORKERS CHARITY (Working name)
Company number:
00019366 Open in new window
Gift aid:
Recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Bullying and harassment policy and procedures
  • Complaints handling
  • Complaints policy and procedures
  • Conflicting interests
  • Financial reserves policy and procedures
  • Internal charity financial controls policy and procedures
  • Internal risk management policy and procedures
  • Investing charity funds policy and procedures
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding policy and procedures
  • Safeguarding vulnerable beneficiaries
  • Serious incident reporting policy and procedures
  • Social media policy and procedures
  • Trustee conflicts of interest policy and procedures
  • Trustee expenses policy and procedures
Land and property:
This charity does not own and/or lease land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

13 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
TONY RAMOS Chair
None on record
RICHARD PETER WAIT Trustee 08 August 2024
None on record
NATHAN PAUL TOWNSEND Trustee 08 August 2024
None on record
JASMINE EVE YEO Trustee 08 August 2024
None on record
CHARLES FREDERICK COLDICOTT Trustee 08 August 2024
None on record
Sharon Midwinter Trustee 09 May 2023
None on record
Marco Evans Trustee 12 October 2020
None on record
Duncan Allan Douglas Stewart Trustee 21 September 2020
None on record
Suzanne Hughes Trustee 09 February 2017
None on record
Beverley Horler Trustee 10 November 2016
None on record
Lena Breen Trustee 26 June 2015
None on record
RACHEL CLARINGBOLD Trustee 16 November 2012
None on record
SAMUEL CLIVE DE SILVA Trustee 08 August 2004
None on record

Financial history

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Financial period end date

Income / Expenditure 31/03/2020 31/03/2021 31/03/2022 31/03/2023 31/03/2024
Total gross income £1.92m £1.86m £2.15m £1.84m £2.32m
Total expenditure £5.19m £4.88m £5.15m £5.38m £6.55m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants N/A N/A N/A N/A N/A
Income - Donations and legacies £177.16k £424.80k £594.39k £585.82k £579.07k
Income - Other trading activities £0 £0 £0 £0 £0
Income - Charitable activities £0 £0 £0 £0 £0
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £1.74m £1.43m £1.56m £1.26m £1.74m
Income - Other £0 £0 £0 £0 £0
Income - Legacies £44.29k £305.05k £241.02k £269.96k £191.24k
Expenditure - Charitable activities £4.52m £4.23m £4.49m £4.83m £5.75m
Expenditure - Raising funds £669.38k £657.35k £658.45k £555.73k £805.43k
Expenditure - Governance £158.25k £123.89k £108.40k £107.49k £104.48k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £468.44k £447.90k £564.93k £467.65k £259.19k
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/03/2020 31/03/2021 31/03/2022 31/03/2023 31/03/2024
Own use assets £23.88k £15.11k £5.98k £0 £0
Long-term investments £81.87m £95.57m £92.19m £89.95m £91.62m
Other assets £1.22m £659.45k £1.01m £918.92k £1.07m
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £7.62m £6.72m £807.84k £3.53m £909.50k

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 March 2024 14 January 2025 On Time
Accounts and TAR 31 March 2024 14 January 2025 On Time Download Open in new window
Annual return 31 March 2023 28 December 2023 On Time
Accounts and TAR 31 March 2023 28 December 2023 On Time Download Open in new window
Annual return 31 March 2022 07 October 2022 On Time
Accounts and TAR 31 March 2022 07 October 2022 On Time Download Open in new window
Annual return 31 March 2021 24 November 2021 On Time
Accounts and TAR 31 March 2021 24 November 2021 On Time Download Open in new window
Annual return 31 March 2020 05 January 2021 On Time
Accounts and TAR 31 March 2020 05 January 2021 On Time Download Open in new window
Submit annual return Open in new window

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 20/01/1884 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 14/10/1963 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 21/11/1965 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 08/12/1977 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 14/10/1985 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 21/11/1985 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 10/12/1987 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 14/11/2005 NOW ARTICLES ADOPTED BY SPECIAL RESOLUTION DATED 21/07/2011 AS AMENDED BY SPECIAL RESOLUTION REGISTERED AT COMPANIES HOUSE ON 12/11/2015

Charitable objects

THE CHARITY’S OBJECTS ARE: 1.1 THE PREVENTION AND RELIEF OF POVERTY AMONGST BANK EMPLOYEES, THEIR FAMILIES, CHILDREN AND DEPENDENTS. 1.2 THE ADVANCEMENT OF HEALTH AMONGST BANK EMPLOYEES, THEIR FAMILIES, CHILDREN AND DEPENDENTS. 1.3 THE ADVANCEMENT OF EDUCATION AMONGST THE CHILDREN OF BANK EMPLOYEES; 1.4 FOR THE PURPOSES OF THESE OBJECTS 1.4.1 “BANK EMPLOYEE” MEANS ANY PERSON, WHETHER RESIDENT IN THE UK OR ELSEWHERE, WHO: (A) HAS AT ANY TIME BEEN IN BANK EMPLOYMENT, OR (B) IS THE SPOUSE, PARTNER OR CO-HABITEE OF A PERSON WHO HAS AT ANY TIME BEEN IN BANK EMPLOYMENT. 1.4.2 “BANK EMPLOYMENT” MEANS THE EMPLOYMENT BY OR THE PROVISION OF SERVICES TO ANY ORGANISATION (INCLUDING COMPANY, FIRM, INDIVIDUAL OR OTHER ORGANISATION) WHICH IS ENGAGED IN BANKING OR SIMILAR SERVICES IN THE UNITED KINGDOM (WHETHER OR NOT SUCH EMPLOYMENT OR PROVISION OF SERVICES IS IN THE UNITED KINGDOM) OR ANY INSTITUTION IN ANY PART OF THE WORLD WHICH IS WHOLLY OWNED BY, PART OF THE SAME GROUP OF COMPANIES AS OR OTHERWISE SPECIALLY CONNECTED TO SUCH ORGANISATION. 1.4.3 “CHILD” OR “CHILDREN” INCLUDE NATURAL CHILDREN, STEP CHILDREN OR ADOPTED CHILDREN AND DEPENDENTS AND THEIR CHILDREN. 1.4.4 “UNITED KINGDOM” MEANS THE UNITED KINGDOM, NORTHERN IRELAND, THE ISLE OF MAN OR THE CHANNEL ISLANDS AS THE CONTEXT REQUIRES.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NOT DEFINED

Linked charities

Linked charities
Linked charity 313080-1 OWEN MORRIS OWEN BEQUEST
Governing document
WILL DATED 2ND NOVEMBER 1925
Charitable objects
THE GENERAL PURPOSES OF THE ORPHANAGE.
Area of benefit
NOT DEFINED
Registration history
  • 27 February 1964 : Standard registration
  • 13 January 1997 : Removed

Contact information

Address:
Bank Workers Charity
35 Great St. Helen's
LONDON
EC3A 6AP
Phone:
02038738535
Email:
info@bwcharity.org.uk
Website:

www.bwcharity.org.uk Open in new window