We understand that in some quarters there has been criticism that our investments stand at around £2.2m. But the income of approximately £80,000 these investments bring enables us to maintain the previous level of benefits, as we have and fully intend to continue to do. The dividend contributes over one-third of our income.
We all know the value of investments falls as well as rises and in early 2000 there was a considerable fall in the stock market. However, thanks to prudent investment management, TTBS was able to ride this storm reasonably well and was well positioned to take advantage of the recovery when it came. Taking advantage of good investment advice!
Single pensioners on £114 per week (if they are entitled to pension credit) were horrified when their winter gas and electricity bills arrived. For this reason TTBS gave a special ‘Winter Warmer’ grant of £100 to its beneficiaries in March. As a result, the TTBS has increased the amount paid by almost 20%. It is our intention in early 2007 to make a similar grant, but this time of £200.
We consider this is a much needed additional payment and, if we are to continue to support our beneficiaries, then our investments will need to continue to produce good returns and our fund-raisers around the country will need to continue with their voluntary work.
I hope this explains to any ‘doubters’ that we are not ‘rich’ but put every penny we raise to good use.
Anyone wishing to know more about the Society’s working is welcome at one of the local or national meetings and can contact Malcolm Job (our only paid employee) who will gladly give them more information. He can be contacted at info@ttbs.org.uk.
Wishing you all a happy Christmas and a warm and prosperous 2007.
