THE COAL INDUSTRY SOCIAL WELFARE ORGANISATION 2014
Financial health, per its FY2023 accounts
The accounts state that the group reported a net loss of £1,400,865 for the year ended 31 December 2023, primarily driven by a planned deficit in activities and investment losses. Per the trustees' report, unrestricted reserves stood at £8,202,792, which the trustees consider adequate to meet short and long-term income requirements given the charity's reliance on investment returns.
What the accounts disclose
“The reserves policy will be reviewed annually and expenditure budgets will be built around the strategic plan.”
“In addition, CISWO received a grant of £67,167 (2022: £65,850) from the Yorkshire Miners Welfare Trust Fund (charity no 516535),1 of the Trustees of that Fund is also a Trustee of CISWO 2014.” — page 38
“CISWO 2014 will receive a payment under gift aid from CISWO Trading Limited of £14,551 (2022: £7,443. At the year end an amount of £14,551 (2022: £7,443) was owed by CISWO Trading Limited.” — page 38
“In addition, CISWO received a grant of £67,167 (2022: £65,850) from the Yorkshire Miners Welfare Trust Fund (charity no 516535),1 of the Trustees of that Fund is also a Trustee of CISWO 2014.” — page 38
“CISWO 2014 will receive a payment under gift aid from CISWO Trading Limited of £14,551 (2022: £7,443. At the year end an amount of £14,551 (2022: £7,443) was owed by CISWO Trading Limited.” — page 38
“In addition, CISWO received a grant of £67,167 (2022: £65,850) from the Yorkshire Miners Welfare Trust Fund (charity no 516535),1 of the Trustees of that Fund is also a Trustee of CISWO 2014.” — page 38
“CISWO 2014 will receive a payment under gift aid from CISWO Trading Limited of £14,551 (2022: £7,443. At the year end an amount of £14,551 (2022: £7,443) was owed by CISWO Trading Limited.” — page 38
“The last actuarial valuation was undertaken as at 31 December 2021 and the resulting repayment plan requires the organisation to pay deficit contributions of £27,333 per month from 1 April 2023 to 31 May 2024.” — page 38
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Carole Langrickchair
- CHRISTINE KAYE
- DAVID JONATHAN DUNN
- David Paul Steer
- Helen Anne Lentle
- Howard Stephen Shaw
- John-Paul Considine
- Michael Laing
- Michael Macdonald
- Patrick Matthew Carragher
- Richard Nield
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £2.1m | £3.4m |
| 31/12/2023 | £2.3m | £3.5m |
| 31/12/2022 | £1.7m | £3.8m |
| 31/12/2021 | £2.9m | £3.4m |
| 31/12/2020 | £2.8m | £3.7m |
Common questions
Is THE COAL INDUSTRY SOCIAL WELFARE ORGANISATION 2014 financially healthy?
The accounts state that the group reported a net loss of £1,400,865 for the year ended 31 December 2023, primarily driven by a planned deficit in activities and investment losses. Per the trustees' report, unrestricted reserves stood at £8,202,792, which the trustees consider adequate to meet short and long-term income requirements given the charity's reliance on investment returns. Its FY2023 accounts were audited by Saffery LLP.