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|||Pages|
|---|---|---|
|Trustees'
annual
report||1to7|
|Independent
auditor's|report to the members|8to11|
|Statement offinancial|activities|12|
|Statement offinancial|position|13|
|Notes to the financial|statements|14to 27|
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|The trustees|present|their|report|report|and
the|financial|financial|statements|statements|statements|of the|of the|charity|charity|for the year ended|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|5April 2022.||||||||||||||||
|Reference and administrative||||details||||||||||||
|Registered|charity name||||Polden Puckham||Charitable|||Foundation||||||
|Charity registration||number|||1003024|||||||||||
|Principal office|||||BM PPCF|||||||||||
||||||London|||||||||||
||||||WC1N 3XX|||||||||||
|The trustees||||||||||||||||
||||||D Ball|||||||||||
||||||SFisher|||||||||||
||||||J Gillett|||||||||||
||||||S Pittam|||||||||||
||||||ASeay|||||||||||
||||||F M Duggan|||||||(Appointed||12May 2021)||
||||||C Forde|||||||(Appointed||13November 2021)||
|Trust secretary|||||Christine
Oliver|||||||||||
|Auditor|||||BSN Associates||Limited|||||||||
||||||Chartered|accountants|||8 statutory|||auditor||||
||||||38Swallowfield||Courtyard|||||||||
||||||Wolverhampton||Road|||||||||
||||||Oldbury|||||||||||
||||||West Midlands|||||||||||
||||||B692JG|||||||||||
|Bankers|||||Triodos Bank NV|||||||||||
||||||Deanery Road|||||||||||
||||||Bristol|||||||||||
||||||BS15AS|||||||||||
|Investment|manager||||Rathbone|Greenbank|||Investments|||||||
||||||10Queen|Square||||||||||
||||||Bristol|||||||||||
||||||BS14NT|||||||||||
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|Key s|tatistics:|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
||Income|||||||||
||Legacy|||||||15,000||
||Investment|income and||bank interest||||265,647|282,708|
||Expenditure|||||||1,875,370|870,122|
||Key items:|||||||||
||Investment|management||and advice||||58,796|60,223|
||Support and governance|||costs||||62,524|55,181|
||Grants|||||||1,754,050|754,718|
|Grant|breakdown:|||||||||
|||||||||2022|2021|
||Total number of||recipient|organisations||||72|58|
||Average amount||per organisation|||||24,362|13,012|
|||||||||No. of||
||||||No.|ofgrants|2021|grants|2021|
||Peace and security|||||33|775,991|20|267,927|
||Environmental|||||||||
||sustainability|||||39|978,059|38|486,791|
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|Year ended 5April 2|02|2|||||
|---|---|---|---|---|---|---|
|||||2022||2021|
|||||Unrestricted|||
|||||funds|Total funds|Total funds|
||||Note||||
|Income and endowments|||||||
|Donations
and legacies|||4|15,000|15,000||
|Investment
income|||5|265,647|265,647|282,708|
|Total income||||280,647|280,647|282,708|
|Expenditure|||||||
|Expenditure
on raising funds:|||||||
|Investment
management||costs|6|58,796|58,796|60,223|
|Expenditure
on charitable|activities||7,8|1,816,574|1,816,574|809,899|
|Total expenditure||||1,875,370|1,875,370|870,122|
|Net gains on investments|||11|(1,366,389)|(1,366,389)|(1,837,702)|
|Net (expenditure)/income|and net movement||in funds|(228,334)|(228,334)|1,250,288|
|Reconciliation
offunds|||||||
|Total funds brought
forward||||15,387,076|15,387,076|14,136,788|
|Total funds carried forward||||15,158,742|15,158,742|15,387,076|
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|5April 2022||||||
|---|---|---|---|---|---|
|||||2022|2021|
||||Note|||
|Fixed assets||||||
|Tangible fixed assets|||16|2,050|3,075|
|Investments|||17|8,306,295|12,995,368|
|||||8,308,345|12,998,443|
|Current assets||||||
|Debtors|||18|2,802|10,900|
|Investments|||19|5,592,483|1,862,258|
|Cash at bank and|in|hand||1,296,900|535,918|
|||||6,892,185|2,409,076|
|Creditors: amounts||falling due within one year|20|41,788|20,443|
|Net current assets||||6,850,397|2,388,633|
|Total assets less|current liabilities|||15,158,742|15,387,076|
|Net assets||||15,158,742|15,387,076|
|Funds ofthe charity||||||
|Unrestricted
funds||||15,158,742|15,387,076|
|Total charity funds|||22|15,158,742|15,387,076|
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|4.|Donations|and legaci|es|||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2022|Funds|2021|
||||||R|||
||Legacies|||||||
||Legacies Income|||15,000|15,000|||
|5.|Investment|income||||||
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2022|Funds|2021
f|
||Income from UK listed||investments|167,961|167,961|189,700|189,700|
||Income from Overseas||listed|||||
||investments|||69,646|69,646|82,013|82,013|
||Interest on bank deposits|||28,040|28,040|10,995|10,995|
|||||265,647|265,647|282,708|282,708|
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||||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Funds|2022|Funds|2021|
||Investment|management|||fees||58,796|58,796|60,223|60,223|
|7.|Expenditure||on charitable|||activities by|fund type||||
||||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||||Funds|2022|Funds|2021|
||||||||||F||
||Grant making||||||1,754,050|1,754,050|754,718|754,718|
||Support costs||||||62,524|62,524|55,181|55,181|
||||||||1,816,574|1,816,574|809,899|809,899|
|8.|Expenditure||on charitable|||activities by|activity type||||
|||||||Grant funding|||Total funds|Total fund|
||||||||ofactivities Support costs||2022|2021|
|||||||||||F|
||Grant making||||||1,754,050|56,207|1,810,257|805,018|
||Governance|costs||||||6,317|6,317|4,881|
||||||||1,754,050|62,524|1,816,574|809,899|
|9.|Analysis ofsupport costs||||||||||
||Support costs||can be analysed as follows:||||||||
||||||||||2022|2021|
||Staff costs||||||||38,284|36,169|
||General office||||||||1,556|1,321|
||Governance|costs|||||||6,317|4,881|
||Secretary's|travel expenses|||||||1,006|1,021|
||Subscriptions||||||||13,567|10,781|
||Conferences,||meetings||and|travel|||769|(17)|
||Depreciation||||||||1,025|1,025|
||||||||||62,524|55,181|
||Governance|costs can||be analysed as follows:|||||||
||||||||||2022|2021|
||Audit fees||||||||2,980|2,951|
||Auditors
other||services||||||1,945|1,915|
||Legal and professional|||fees|||||1,255||
||Bank charges||||||||137|15|
||||||||||6,317|4,881|
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|Analysis ofgrants||||
|---|---|---|---|
|||2022|2021|
|Grants to institutions||||
|Grants for environmental|sustainability|978,059|457,191|
|Grants for peace and security||775,991|297,527|
|||1,754,050|754,718|
|Total grants||1,754,050|754,718|
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|Analysis ofgrants
(conttnuect)|Analysis ofgrants
(conttnuect)|Analysis ofgrants
(conttnuect)|||
|---|---|---|---|---|
|Grants can be analysed as follows:|||||
|Environmental
Sustainability||||2022|
|Biofuel Watch||||15,000|
|CHEM Trust||||20,000|
|Climate &Ecological|Bill Alliance|||20,000|
|Climate 2025||||174,000|
|Climate Heroes||||5,000|
|Corporate Watch||||10,000|
|Culture
Unstained||||2,000|
|Ecological Land Cooperative||||15,000|
|Ella Daish - ¹endperiodplastic||campaign||1,500|
|Energy Democracy Project||||7,500|
|Environmental
Rights|Centre Scotland|||15,000|
|Faith for the Climate|Network|||10,000|
|Finance for the Future||||70,000|
|Food Ethics Council||||10,000|
|Giki Social Enterprise||||10,000|
|Green Future Associates||||16,000|
|Green New Deal UK||||150,000|
|International
Lawyers|Projects|||20,000|
|Jubilee Scotland||||10,599|
|Navigate||||10,000|
|People &Planet||||16,000|
|Platform||||30,000|
|Policy Research
in Macroeconomics|||(PRIME)|20,000|
|Positive Money||||15,000|
|Power for People||||15,000|
|Promoting
Economic|Pluralism|||20,000|
|Seeds for change||||15,000|
|Size ofWales||||10,000|
|Stamp Out Poverty||||20,000|
|Stop Ecocide International||||122,500|
|Students
Organising|for Sustainbility||UK|5,000|
|Sustainable
Soils Alliance||||15,000|
|Swarm
Dynamics||||5,000|
|Tarian Hafren Severn|Shield|||3,000|
|The Big Picture||||15,000|
|This is Rubbish||||10,000|
|Tripod||||15,000|
|Twenty
First Century||||20,000|
|Wildlife &Countryside|Link|||15000|
|Total Environmental|Sustainability|||978059|
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|Analysis ofgrants
(continued)||||||||
|---|---|---|---|---|---|---|---|
||||||||2022
f|
|All Party Parliamentary
Group on Extraordinary|||||||30,000|
|Bretton Woods Project|||||||20,000|
|British American
Security Information||Council|||||12,000|
|British Friends ofQCEA|||||||10,000|
|Children
and Youth International|||||||20,000|
|Commonwealth
Foundation|||||||3,000|
|Compass|||||||10,000|
|Corporate
Europe Observatory|||||||100,030|
|Corporate Justice Coalition|||||||20,000|
|Counter Balance|||||||17,500|
|Demilitarise
Education|||||||9,011|
|Drone Wars UK|||||||10,000|
|Global Inequality
Project|||||||20,000|
|Green House|||||||9,950|
|Heart Politics|||||||20,000|
|The Israeli Committee
Against House||Demolitions|||||2,000|
|Leeds Tidal|||||||15,000|
|Medact|||||||11,000|
|New Internationalist|||||||20,000|
|Protection Approaches|||||||13,000|
|Public Interest Research Centre|||||||14,000|
|Quaker
United
Nations Office|||||||10,000|
|ReCommon APS|||||||15,000|
|Resourcing
Racial Justice|||||||30,000|
|Rethinking
Security|||||||15,000|
|Saferworld|||||||100,000|
|Shadow World Investigations|||||||15,000|
|Stop Cambo Campaign
(via Social Change Nest)|||||||5,000|
|The Association
ofCommunity|Organisations||for|Reform Now|||20,000|
|Uplift (via the Social Change Nest)|||||||150,000|
|Tipping
Point North South|||||||8,000|
|UNA-UK|||||||10,000|
|Women for Women|||||||11500|
|Total Peace and Security|||||||775991|
|Net gains on investments||||||||
|||Unrestricted|||Total Funds|Unrestricted|Total Funds|
||||Funds
f||2022
f|Funds|2021|
|Gains/(losses)
on listed investments|||519,601||519,601|3,394,488|3,394,488|
|Gains/(losses)
on other investment||||||||
|assets|||846,788||846,788|(1,556,786)|(1,556,786)|
|||1,366,389|||1,366,389|1,837,702|1,837,702|
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||Net (expenditure)/income|Net (expenditure)/income|is stated after charging/(crediting):|||
|---|---|---|---|---|---|
|||||2022|2021|
||||||f|
||Depreciation|oftangible|fixed assets|1,025|1,025|
|13.|Auditors
remuneration|||||
|||||2022|2021|
||Fees payable|to the charity's auditor and its associates for other services:||||
||Audit-related|assurance|services|2,980|2,950|
||Other non-audit
services|||1,945|1,915|
|||||4,925|4,865|
##
||||2022|2021|
|---|---|---|---|---|
|Wages and salaries|||34,793|33,490|
|Employer contributions|to pension|plans|3,491|2,679|
||||38,284|36,169|
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|Tangible fixed assets||
|---|---|
||Equipment|
|Cost||
|At 6April 2021 and 5April 2022|6,347|
|Depreciation||
|At 6 April 2021|3,272|
|Charge for the year|1,025|
|At 5April 2022|4,297|
|Carrying
amount||
|At 5April 2022|2,050|
|At 5 April 2021|3,075|
##
|||Listed|Other||
|---|---|---|---|---|
|||investments|investmentsf|Total|
|Cost orvaluation|||||
|At 6 April|2021|12,695,735|299,633|12,995,368|
|Additions||497,720||497,720|
|Disposals||(6,553,962)||(6,553,962)|
|Fair value|movements|519,601|846,788|1,366,389|
|Non market transaction||780||780|
|At 5April|2022|7,159,874|1,146,421|8,306,295|
|Carrying|amount||||
|At 5April|2022|7,159,8?4|1,146,421|8,306,295|
|At 5 April|2021|12,695,735|299,633|12,995,368|
##
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|Investments
can be analysed
by category as follows:|||
|---|---|---|
||2022|2021|
|UK fixed interest|949,790|1,667,227|
|Overseas fixed interest|501,014|1,245,735|
|UK listed equities and unit trusts|3,598,116|6,446,197|
|Overseas
listed equities and unit trusts|2,110,954|3,336,576|
|UK unlisted
equities|1,146,421|299,633|
||8,306,295|12,995,368|
##
|Investments
by organis|at|ion
a|re listed below:|||
|---|---|---|---|---|---|
||||||Market|
|||||Cost|Value|
|A2 Dominion
Housing|Group||Ltd|102,237|104,488|
|A2D Funding
PLC||||190,115|186,535|
|Aegon Asset Mgmt UK||||97,472|94,498|
|Alfen NV||||61,005|79,207|
|Aquila European
Renewables|||Inc|105,244|93,011|
|ASML Holdings
NV||||22,951|94,842|
|Assa Abloy NPV||||62,518|94,946|
|Autodesk
Inc||||88,611|72,501|
|Beyond Meat Inc||||101,490|36,099|
|CHR Hansen
HLDG AS||||93,496|109,053|
|Civitias Social Housing||PLC||112,840|91,832|
|Dechra Pharmaceuticals||PLC||7,585|69,546|
|Deutsche
Bahn finance||BV||171,231|163,932|
|Ecofin US Renew lnfrastucture||||88,958|97,457|
|Ecotricity||||30,160|30,000|
|Ethical Property Co||||43,607|42,500|
|Euro Investment
Bank||||214,567|202,837|
|FDM Group Holdings|PLC|||60,099|71,958|
|Foresight Solar Fund Ltd||||115,385|123,618|
|Fund Partners
Ltd||||162,979|288,272|
|Genuit Group PLC||||54,142|78,160|
|Glaxosmithkline
PLC||||144,786|143,119|
|Good Energy Group PLC||||36,050|41,210|
|Gore Street Energy Storage PLC||||79,954|88,027|
##
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|||||||||Market|
|---|---|---|---|---|---|---|---|---|
||||||||Cost|Value|
|Greencoat UK Wind PLC|||||||97,402|134,801|
|Halma PLC|||||||2,369|72,184|
|Hannon
Armstrong
Sustainable|||Infrastructur||||99,634|93,303|
|Harmony
Energy Income||TST pic|||||77,712|83,540|
|Home Reit PLC|||||||89,000|111,606|
|Impax Asset Mgmt Group||PLC|||||1,052|52,836|
|Impax Funds (IRE)PLC (Asain|||Environ|Mkt||XAcc)|62,770|146,256|
|Impax Funds (IRE) PLC (Environmental||||Mkt||XAcc)|33,038|154,448|
|IP Group PLC|||||||68,346|60,743|
|Kreditanst
Fur Wie|||||||145,129|134,245|
|Legal &General Group PLC|||||||67,038|79,083|
|Marshalls
Group PLC|||||||39,150|75,570|
|Mayfair Capital Invest|Mgmt||||||230,920|266,419|
|Mirova Funds|||||||149,169|136,767|
|Motability
Operations|Group||||||94,673|83,912|
|National
Grid PLC|||||||53,343|144,327|
|Octopus Renew Infra|Trust PLC||||||76,702|86,213|
|Orsted AS|||||||51,922|115,682|
|Orsted AS|||||||124,938|125,669|
|Our Power Social Purpose|||||||30,000||
|Parry People Movers|Ltd||||||22,516|3,721|
|Places for People|||||||166,325|160,387|
|Renewables
Infrastructure||GRP|||||164,041|205,494|
|Renewi PLC|||||||41,925|54,119|
|Robeco Capital Growth Funds|||||||96,068|202,760|
|Rockwool A/S|||||||71,152|102,497|
|Schrdoer Investment|Global Energy Transiti||||on QAcc||276,122|282,786|
|Schroder BSCSocial|impact TST||||||95,000|100,225|
|Shimano
Inc|||||||14,987|51,997|
|Smith &Nephew
PLC|||||||36,271|93,708|
|Smith (DS)PLC|||||||96,249|96,145|
|Spirax-Sarco Engineering||PLC|||||4,986|76,595|
|Swiss REAG|||||||123,860|107,708|
|Thera Trust PLC|||||||30,000|30,054|
|Thorpe (FW) PLC|||||||53,600|73,600|
|Thrive Renewables
PLC|||||||156,393|176,960|
|Thrive Renewables|||||||110,000|111,654|
|Tomra Systems ASA|||||||15,323|68,654|
|Umicore NPV|||||||83,543|91,589|
|Unilever PLC|||||||69,286|77,803|
|Vestas Wind Systems|||||||89,426|143,729|
|Vodafone Group PLC|||||||111,456|96,189|
|Wind Prospect|||||||40,180|40,000|
|Xylem Inc|||||||43755|56248|
|Total Listed Investments|||||||5,854,253|7,159,874|
|Unlisted|||||||||
|C &J Clark Limited E1 Ordinary|||Shares||||455,000|1,146,421|
##
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|||||Cost|Market Value|
|---|---|---|---|---|---|
||Total Unlisted|Investments||455 000|1 146421|
||Total Investments|||6309253|5306295|
|18.|Debtors|||||
|||||2022|2021|
||Prepayments|and accrued income||2,802|3,469|
||Other debtors||||7,431|
|||||2,802|10,900|
|19.|Investments|||||
|||||2022
f|2021|
||Other investments|||4,604,594|609,643|
||Short-term
deposits|||987,889|1,252,615|
|||||5,592,483|1,862,258|
|20.|Creditors: amounts||falling due within one year|||
|||||2022|2021|
||||||F|
||Accruals and deferred||income|41,788|20,167|
||Other creditors||||276|
|||||41,788|20,443|
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|||At||||Gains and|At|
|---|---|---|---|---|---|---|---|
|||6Apr 2021|Income|Expenditure|Transfers|losses|5Apr 2022|
|General funds||15,387,076|280,647|(1,875,370)|(15,000)|1,366,389|15,143,742|
|Designated|Fund|||||||
|Legacy|||||15,000||15,000|
|||15,387,076|280,647|(1,875,370)||1,366,389|15,158,742|
|||At||||Gains and|At|
|||6Apr 2020|Income|Expenditure|Transfers|losses|5Apr 2021|
|General funds||14,136,788|282,708|(870,122)||1,837,702|15,387,076|
|Designated|Fund|||||||
|Legacy||||||||
|||14,136,788|282,708|(870,122)||1,837,702|15,387,076|
##
|Analysis ofnet as|sets between funds||||
|---|---|---|---|---|
|||Designated|Unrestricted|Total Funds|
|||Funds|Funds|2022|
|Tangible fixed assets|||2,050|2,050|
|Investments|||8,306,295|8,306,295|
|Current assets||15,000|6,877,185|6,892,185|
|Creditors less than|1 year||(41,788)|(41,788)|
|Net assets||15,000|15,143,742|15,158,742|
||||Unrestricted|Total Funds|
||||Funds|2021|
||||E||
|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|1 year||(20,443)|(20,443)|
|Net assets|||15,387,076|15,387,076|
##
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