2021-04-05-accounts

		Pages
Trustees' annual report		1to 7
Independent auditor's	report tothe members	8to11
Statement offinancial	activities	12
Statement offinancial	position	13
Notes to the financial	statements	14to 26

Reference	and administrative	and administrative	details
Registered	charity name		Polden Puckham			Charitable		Foundation
Charity registration		number	1003024
Principal office			BM PPCF
			London
			WC1N 3XX
			D Ball
			SFisher
			JGillett
			SPittam
			ASeay JPrager (resigned			October		2020)
True't secretary			C Oliver
Auditor			BSNAssociates		Limited
			Chartered	accountants			8 statutory auditor
			3BSwallowfield		Courtyard
			Wolverhampton		Road
			Oldbury
			West Midlands
			B692JG
Investment	manager		Rathbone	Greenbank			Investments
			10Queen	Square
			Bristol
			BS14NT
Bankers			Triodos Bank NV
			Deanery Road
			Bristol
			BS15AS

Key statistics:							2021	2020
Income
Investment	income and			bank interest			282,708	322,023
Expenditure							870,122	702,218
Key items: Investment management Support and governance Grants				and advice costs			60,223 55,181 754,718	61,358 63,289 577,571
Grant breakdown:
							2021	2020
								E
Total number of Average amount			recipient organisations per organisation				58 13,012	47 12,289
							No. of
					No. of grants	2021	grants	2020
								E
Peace and security					20	267,927	16	173,931
Environmental
sustainability					38	486,791	31	403,640

Year ended 5April 2	02	I
				2621		2020
				Unrestricted
				funds	Total funds	Total funds
			Note		R
Income and endowments
Investment income			4	282,708	282,708	322,023
Total income				282,708	282,708	322,023
Expenditure
Expenditure on raising funds: Investment management		costs	5	60,223	60,223	61,358
Expenditure on charitable	activities		6,7	809,89S	809,8S9	640,860
Total expenditure				870,122	870,122	702,218
Net gains/(losses) on investments			10	(1,837,702)	(1,837,702)	693,273
Net income/(expenditure)	and net movement		ln funds	1,250,288	1,250,288	(1,073,488)
Reconciliation offunds
Total funds brought forward				14,136,788	14,136,788	15,210,256
Total funds carried forward				15,387,076	15,387,076	14,136,788

5April 2021
			2021	2020
		Note
Fixed assets
Tangible fixed assets		15	3,075
Investments		16	12,995,368	12,472,781
			12,998,443	12,4?2,781
Current assets
Debtors		17	10,900	21,187
Investments		18	1,&62,258	1,264,380
Cash at bank and in	hand		535,918	399,020
			2,409,076	1,684,587
Creditors: amounts	falling due within one year	19	20,443	20,580
Net current assets			2,388,633	1,664,007
Total assets less current llablll8ea			15,387,076	14,136,788
Net assets			15,387,076	14,136,788
Funds ofthe charity
Unrestricted funds			15,3&7,076	14,136,788
Total charity funds		21	15,387,076	14,136,788

			Unrestricted	Total	Funds	Unrestricted	Total	Funds
			Funds		2021	Funds f		2020
Investment	management	fees	60,223		60,223	61,358		61,358

Expenditure on charitable	activities by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021 f	Funds	2020 F
Grant making	754,718	754,718	5?7,571	577,571
Support costs	55,181	55,181	63,289	63,289
	809,899	809,899	640,860

	Grant funding		Total funds	Total fund
	ofactivities	Support costs	2021	2020
			R
Grant making Governance costs	754,718	50,300 4,881	805,018 4,881	635,973 4,887
	754,718	55,181		640,860

upport costs can be a	nalysed as follows:
		2021	2020
		R
Staff costs General of'fice Governance costs Secretary's travel and Subscriptions Conferences, meetings Depreciation	other expenses and travel	36,169 1,321 4,881 1,021 10,781 {17) 1,025	35,944 1,753 4,887 2,0S'l 11,S09 6,254 561
		55,181	63,289

overnance costs can be analysed as follows:
	2021	2020
	R
Audit fees Auditors other services Bank charges	2,950 1,915 16	2,916 1,861 110
	4,881	4,887

Ye	ar ended 5April 2	02	1
9.	Analysis ofgrants
					2021	2020
	Grants to institutions
	Grants for environmental			sustainability	486,791	403,640
	Grants for peace and	security			267,927	173,931
					754,718	577,571
	Total grants				754,718	577,571
	Grants can be analysed			as follows:
						2021
	Environmental Sustainability Biofuel Watch					11,000
	Climate 2025					16,000
	Climate Coalition					6,000
	Climate Sunday Corporate Watch					10,000 10,000
	DeSmog UK Environmental Rights	Centre Scotland				10,000 15,000
	Faith for the Climate	Network				10,000
	Fairshare Education	-	Biodiversity			5,000
	Finance for the Future					15,000
	Food Ethics Council					10,000
	Giki Social Enterprise					10,000
	Green Future Associaties					16,000
	Green House					11,500
	Hope for the Future					10,000
	Jubilee Scotland					10,791
	Navigate					10,000
	New Economics Foundation					b,100
	Nourish Scotland					15,000
	People and Planet PIRC (Helweg-Lar) Platform					16,000 14,500 17,500
	Positive Money					15,000
	Power for People					30,000
	Promoting Economic	Pluralism				20,000
	Global Justice Project Seeds for Change Size ofWales					20,000 15,000 10,000
	SOS- UK					5,000
	Stamp Out Poverty Sustainable Soil Alliance					20,000 10,000
	Swarm Dynamics					10,000
	The Big Picture This Is Rubbish					15,000 8,000
	Tripod UK Without Incineration					15,000 5,000
	Wildlife and Countryside			Link		20,000
	Womens Environmental			Network		14,400
	Total Environmental		Sustainability			486 791

en Puckham Charitable Foundation s tothe Financial Statements (conInueap ended 5Aprll2021
	2021
	R
Peace and Security
Bfetlon Woods Project	20,000
British American Security Information Council	18,000
APPG on Drones	20,000
Clean Trade	20,000
Corruption Watch	10,000
Deciassified Media	15,000
Demilitarise Education	11,761
Drone Wars UK	10,000
Medacl	11,000
New Internationalist	20,000
Oxfor(d Research Group	15,000
Peace Direct	4,950
Protection Approaches	13,216
Rights Watch UK	20,000
Rethinking Security	15,000
Resourcing Racial Justice	10,000
Tipping Point North South (received by War on Want)	8,000
UNA- UK	10,000
UNA London 8 South East	5,000
Gender Action for Peace and Security (received by Women	11,000
forWomen)
Total Peace and Security	~267 27

Net gains/(lo	sses) on i	nvestmente
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2021	Funds	2020
				R
Gains/(losses)	on listed investments		3,394,488	3,394,488	(986,392)	(986,392)
Gains/(losses)	on other investment
assets			(1,556,786)	(1,556,786)	293,119	293,119
			1,837,702	1,837,702	(683,273)	(683,273)
Net income/(expenditure)
Net income/(expenditure)		is stated after	charging/(crediting):
					2021	2020
					R
Depreciation	oftangible	fixed assets			1,025	561

Auditors remuneration
			2021	2020
Fees payable tothe charity's auditor and its associates for Audit-related assurance services			other services: 2,950	2,915
Other non-audit services			1,915	1,862
			4,865	4,777
The total staff costs and	employee	benefits forthe reporting	period are analysed as	follows:
			2021	2020
Wages and salaries Social security costs Employer contributions	to pension	plans	33,490 2,679	32,951 357 2,636
			36,169	35,944

by them in attending Trustee conferences and m was Nil (2020:six) and the total amount reimbursed Tangible fixed assets	eetings. The number of Trustees reimbursed was RNil (2020:R1,812).
	Equipment 5
	Software
	R
Cost
At 6April 2020	2,247
Additions	4,100
At 5April 2021	6,347
Depreciation At6April 2020	2,247
Charge for the year	1,025
At 5April 2021	3,272
Carrying amount At 5April 2021	3,075
At 5April 2020

			Listed	Other
			investments	investments	Total
			E	E	F
Cost or valuation
At 6 April	2020		10,616,362	1,856,419	12,472,781
Additions			2,278,467		2,278,467
Disposals			(3,604,274)		(3,604,274)
Fair value	movements		3,394,488	(1,556,786)	1,837,702
Non market transactions			10,692		10,692
At 5 April	2021		12,695,735	299,633	12,995,368
Carrying At 5April	amount 2021		12,695,735	299,633	12,995,368
At 5 April	2020		10,616,362	1,856,419	12,472,781
All investments		shown above are held at valuation.
Financial	assets held at fair value

Investmen	ts can be anal	ysed by category as follows:
			2021	2020
UK fixed	interest		1,667,227	1,396,088
Overseas	fixed interest		1,245,735	499,728
UK listed	equities and unit trusts		6,446,197	5,825,525
Overseas listed equities UK unlisted equities		and unit trusts	3,336,576 299,633	2,895,021 1,856,419
			12,995,368	12,472,781

					Cost	Market
						Value
Listed
200,000 180,000	A2 Dominion Housing A2D Funding PLC	Group		Ltd	204,474 190,115	222,027 193,195
230,000 1,900	Aegon Asset Mgmt UK Alfen NV				238,496 115,909	246,468 116,819
220,000	Aquila European Renewables				210,488	195,236
450	ASML Holdings NV				54,357	202,272
7,985	Assa Abloy				110,935	165,726
450	Autodesk Inc				88,611	93,385
1,000	Beyond Meat Inc				101,490	94,713
1,884 104,000	CHR Hansen HLDG AS Civitas Social Housing				93,496 112,840	123,982 111,904
5,341	Dechra Pharmaceuticals		PLC		24,687	183,837
360,000	Deutsche Bahn Finance BV				385,270	378,603
30,000	Ecotricity				30,160	30,000
121,064	Ecofin US				88,958	89,285
62,500	Ethical Property Co				43,607	57,500
340,000 10,100 111,167	Euro Investment Bank FDM Group Holdings PLC Foresight Solar Fund Ltd				364,764 90,597 115,385	356,230 102,616 113,390
350,000	Fund Partners Ltd				410,379	719,495
100,000	GCP Infrastructure Inv Ltd				123,000	102,200
14,000	Glaxosmithkline PLC				241,310	178,864
16,000	Genuit Group PLC				54,142	90,720
46,350 255,640	Good Energy Group PLC Greencoat UK Wind				105,422 280,649	103,824 330,798
8,100 2,600	Halma PLC Hannon Armstrong				6,852 99,634	197,478 100,512
130,000	Homre Reit PLC				130,000	148,200
16,000	Impax Asset Mgmt Group				3,302	129,600
66,000	Impax Funds (IRE) PLC				62,770	149,094
187,378.435	Impax Funds (IRE)PLC				102,530	451,020
97,000 21,650	IP Group PLC KBI Asset Mgmt				101,994 162,564	122,220 482,016
370,000	Kreditanst Fur Wie				383,556	377,564
51,040	Legal 8 General Group PLC				117,986	144,698
19,000	Marshalls Group PLC				67,623	130,340
274,121.56	Mayfair Capital Invest	Mgmt			230,920	225,163
82,000	Motability Operations	Group			94,673	88,238
18,018	National Grid PLC				80,646	155,585
168,702	Octopus Renew Infra	Trust			168,702	194,007
125,000	Orsted				124,938	133,338
1,200	Orsted AS				51,922	140,361
30,000	Our Power Social Purpose				30,000
5,133	Parry People Movers	Ltd			22,516	3,721

Investments	(cont'inued)
					Cost	Market
						Value
249,000	Places for People				277,953	285,572
11,050	Prudential PLC				32,254	171,441
256,215	Renewables Infrastructure				279,798	314,120
282,750	Renewi PLC				143,253	138,265
7,500	Robecosam Smart	Energy			180,127	351,375
700	Rockwool International		SA		121,480	213,704
900	Shimano Inc				44,960	156,072
95,000	Schroder BSCSocial		Impact		95,000	98,325
1,150 175,000	Schroder Investment Schroder Investment		Management Management		133,036 98,018	201,407 95,165
12,000	Smith & Nephew PLC				57,269	163,140
43,883 3,700	Smith (DS) PLC Spectris PLC				140,402 49,344	181,500 126,392
1,997	Spirax Sarco Engineering			PLC	16,680	231,452
25,000	St Mowden Properties		PLC		104,050	102,500
1,500	Swiss RE AG				123,860	107,740
30,000	Thera Trust PLC				30,000	30,062
34,000 110,000	Thorpe (FW) PLC Thrive Renewables				113,900 110,000	119,000 112,495
79,000	Thrive Renewables	PLC			156,393	183,280
5,700	Tomra Systems ASA				51,376	178,583
4,500	Umicore				139,238	177,738
3,700	Unilever PLC				116,527	148,814
1,700	Vestas Wind Systems				128,835	252,704
6,070	Victrex PLC				106,607	136,454
114,657	Vodafone Group PLC				166,706	153,251
40,000	Wind Prospect				40,180	40,000
3,250	Xylem Inc				167300	248 940
					9,147,215	12,695,735
Unlisted
651,375	C &J Clark Limited E1		ordinary shares		455000	299633
					455,000	299,633
					9602215	12995368

			9602215	129953
17.	Debtors
			2021	2020
	Prepayments Other debtors	and accrued income	3,469 7,431	1,938 19,249
			10,900	21,187

				2021	2020
					F
	Fixed rate	bonds		609,643	1,005,374
	Short-term	deposits		1,252,615	259,006
				1,862,258	1,264,380
19.	Creditors:	amounts	falling due within one year
				2021	2020
	Accruals and deferred		income	20,443	20,580
				20,443	20,580

		At			Gains and	At
		6 April 2020	Income	Expenditure	losses	5 April 2021
		F		F		F
General	funds	14,136,788	282,708	(870,122)	1,837,702	15,387,076
		At			Gains and	At
		6 April 2019	Income	Expenditure	losses	5 April 2020
		F	F	F	F	F
General	funds	15,210,256	322,023	(702,218)	(693,273)	14,136,788

Analysis ofnet assets between funds
	Unrestricted	Total Funds
	Funds	2021
Tangible fixed assets	3,075	3,075
Investments	12,995,368	12,995,368
Current assets	2,409,076	2,409,076
Creditors less than 1year	(20,443)	(20,443)
Net assets	15,387,076	15,387,076
	Unrestricted	Total Funds
	Funds	2020
		R
Tangible fixed assets
Investments	12,472,781	12,472,781
Current assets	1,684,587	1,684,587
Creditors less than 1 year	(20,580)	(20,580)
Net assets	14,136,788	14,136,788