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