Charity rogistratton number 1016322 THE PODDE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE PODDE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru8ta88 Mr. P. B, Godfrey Dr. D, F. Maxted Mr. A.G. Gent Charfty numbèr 1016322 Principal addre¥s8 68 Gre8n Lane Hucclecote Gloucester Gloucestershire GL3 3QX Accountants Claire Bishop FCCAACA Unil 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG
THE PODDE TRUST CONTENTS Pagg Truslees, report staternenl of Irusle8s' rgsponsibilitie$ Independent 8xaminerfs report Statement of financial activi118S Balance sheet Notes lo the accounts 7- 11
THE PODDE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their annual r8POrt and financial statements for the year ended 5 April 2024. The a¢counls hav8 been prepared in accordance with Ihe accounting poliGie3 sel oul in note 1 to the accounts and Comply with the Irusl's goveming document, the Charities Act 2011 and the Statement of Rècommended Practice. "Accounting and Reporting by Charitl8s" issued in March 2005. Objectlves and actlvltlos The trust's objects are to SUPPOrt or promote such charitable purposes as the Iruslees may in Iheir absolule discretion determine. The charity relies on privalg donations. This incorne has been used to supply granls lo Instilulions and individuals who fall wilhin the auspices of Ihe charity'6 objectives. AS in all charities of this nature. Ihe organl88lion relies upon the continued financial support of Ihe individuals concemed. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what aclivilles Ihe trust should undertake. Achlavements and perfomian¢o The focu8 of the trusls, activities iemains the donation of monies to bolh organisations and individuals who are involved In a wide varlety of Chris1San mlnlslry works both In the U.K. and abroad. Ongoing contributions have been made lo a number of org8ni8ations providin9 Social benefits. These include Gloucester City Mission, London City Mission, Armonia, Cenlrepoinl. TEAR Fund and Operation Mobilisalion. Conlributlons conllnue to be made to organizalions involved in aid woik in Turkey and Syria followin9 Ihe earthquake. Flnanclal revlew It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level no rnore than £5.000. Th8 trustees consider that reserves al thi5 level will ensure thal, in Ihe event of a significant drop in funding, they will be able lo continue Ihe Iiusl's Current actlvities whi18 considoralion Is given lo ways in which additional funds may be raised. The Iruslees made the decision to reduce the lev81 of r8serv&s again this year and increase dislributions as the only exp8nsg of th8 charity is the ind6pend8nt examination fa8. The trustees have assessed the major risks to which the Irust is exposed, and ara satisfied that systems are in place to mitigate exposure lo Ihe major risks. Stru¢turei governance and management The trust was established by a charitable trust deed in January 1993. Tho trusteas who served during the year were.. Mr. P. B. Godfrey Dr. D. F. Maxted Mr.A.G. Gant Mr P M Rickelts {Resigned 18 March 2024) The truslees. report was approved by the Board of Trustegs, Mr. P. B. Godfrey Trustee
THE PODDE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Dated.. 3 May 2024
THE PODDE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024 The Irustees are responsible for preparing the Trustees, Report and Ihe financial statements in acwrdance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted A¢Gounling Practice), The law applicable lo charities in England and Wales requires the Iruslees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and appllcation of resourc8s of Ihe trust for that year. In preparing these financial 8latements. the twste&s ar8 required to- 88lect suitable acwunting polici8s and then apply them con315tently; - observe the methods and principles In the Charities SORP.. makg judgements and estimates that ara reasonable and prudent., state whether applicable accounting standards have been followed, subj8cI to any material departures disclosed and explained in the financial slalements., and prepare the financial statements on the going concern ba8is unless it is inapproprialg to presume that the Charity will continue in operation. The trustees ar8 responsible for keeping sufficient accounting record8 Ihal disdose wilh reasonable accuracy at any lime the financial posltion of the Irusl and enable them to ensure that the financial statements Comply wilh the Charities Act 2011, Ihe Charity (A¢unIS and Reporis} Regulations 2008 and the provisions of thé Irusl deed. They are also responsible for safeguarding the assets of the trust and hence for laking reasonable $lep$ for the prevention and d81edion of fraud and other irregularities.
THE PODDE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PODDE TRUST I ieport lo Ihe trustees on my examination of the financial statements of The Podde Trust Ilhg trust) for the year ended 5 April 2024. Rospon$ibllltle8 and basls of report As the trustees of the trusl you are responsible for the preparation of the financial slatem8nts in accordance with the requir8m8nts of Ihe Charilies Act 2011 (the 2011 Act). I report in re8pect of my examlnation of the trust's financial statements carried out undar section 145 of the 2011 Ad. In carrying out my examination I have followed all the applicable Directions given by the Charily Commission under secllon 145(5)(b) of Ihe 2011 Act. Independ•nt examlnarfs slatement Your allantion is drawn to the fact that the charity has prepared financial slatements in accordance with A¢counling and Reporting by Charities preparing their accounts in accordanc8 Wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference lo the Accounllng and Reporting by Charities- Statement of Recommended Practice issued on 1 April 2005 which Is referred to in the oxtant regulations but has now been withdrawn. l understand thal this has been done in order for financial statements lo provide a true and fair view in accordance with Generally Accepted Accounling Practice effective for reporting periods beginning on or after 1 January 2015. I have Completed my examination. I confirffl that no matters have come to my attention in connection with the examinalion giving me cause to b81ieve that in any materlal respect.. accounling records were not kept In respect of the trust as required by section 130 of the 2011 Act., or the finan¢ial slalements do not accord with thos8 records., or the financial statements do not comply with the applicable requlremonts concerning Ihe form and conlent of OuntS sel out in the Charities (Accounts and R8porisl Regulation5 2008 other Ihan any requirernenl that Ihe 8¢¢0unts glve a true and fair view which is not a matt8r considered as part ofan Independent examinalion. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper underslanding of the financial slal8ments lo be reached. Clalre Bishop FCCAACA Unit 3Ambrose House Meteor Court Bamett Way Bainwood Gloucester GL4 3GG Dated.. 3 May 2024
THE PODDE TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestrlcted Unrestri¢led funds funds 2024 2023 Notes Incomo from.. Donations and legacies Charitable activities Investments 500 70,475 208 69,400 57 Total income 71,183 89,457 Charitable activities 71,300 70.212 Not •xpondituro and mov&ment In funds 1117) (755) Rgconclllatlon of funds.. Fund balances al 6 April 2023 6,468 6,223 Fund balances at 5 Aprll 2024 5,351 5,468 The statement of financial a¢llvitles Includes all gains and losse$ recognised in Ihe year. All incom8 and expenditure derive from continuing activities.
THE PODDE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Noies Current agsats Cash at bank and in hand 5,351 5,468 Net current assets 5,351 5,468 The fund$ of the trust Unreslricled funds 5,351 5,468 5.351 5,468 The financial 8talemenls were approved by the trustees on 3 May 2024 Mr. P. B. Godfrey Trusts8
THE PODDE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policles Company infomiatlon The Podde Trust is a registered charity. 1.1 Accountlng ¢onvenllon The financial slat8ments have be8n prepared in 8¢¢ordance with the Irusfs Trust Deed dated 4th January 1993, the Charities Act 2011 and "Accounting and Reporting by Charilies,, Statement of Recommended Practice appli¢able to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (as amended for accounling periods commencing from 1 January 2016). The trust is a Public B8n8fit Entity gs defined by FRS 102. The financial slatemenls have departed from the Charities (Accoun15 and Reporls) Regulations 2008 only to the extent required lo provide a Irue and fair view. This departur8 has Involved following Ihe Slalemenl of Recommended Pracllce for charities applying FRS 102 rathar than Ihe version of the Statement of RecMMended Practica which is referred to in the Regulations but which ha$ since baen withdrawn. The financial slaternents are prepared In sterllng. whlch Is the functional Cufrency of Ihe trust. Mon8lary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under th8 historical cost convention. Thè principal accounling policies adopted are set out below. 1.2 Going concern At the time of approving tha financial slatemenls, the Iruslees have a reasonable expectation thal the Irusl has adequate resources lo Continuo in operational existence for the foreseeable future. Thus the trustees conlinue lo adopt the going concem basis of accounting in preparing the financial sl8lemenl$. 1.3 Charitable fund8 Unrostricled funds are available for use at the discretion of the Iruslees In lurtherance of Iheir charitable obJeotlves. Restricted funds are sublecl lo specific conditions by donors or grantors as to how they may be used, The purposes and uses of the restricted funds are set out in the notes to the financial slalgmonls. Endowmenl fund5 are subject lo specific condilions by donors Ihal th8 capital must be maintained by the trusl. 1.4 Incomlng resource8 Income Is recognised when Ihe trust is legally enlilled ID it after any performance nditionS have been mel, the amounls can be measured reliably, and il is probable that income will be rec8iv8d. Cash donalions are recognised on receipt. Other donation5 are recognised once the trust has be8n notified of the donation, unless p8rformanco condilions require def&rral of the amounl. Incomè lax coverable in relation lo donations received under Gift Aid or deeds of Covenant is recognised al the time of the donation. Legacies are recognis8d on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If th8 amount is not known, the legacy is treated as a contingenl asset. 1.5 Resources oxpended Liabilities and related expenditure are recognisod in full in the accounls as soon as an obligation ari3QS.
THE PODDE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies {Contlnued 1.6 CaBh and cash equlvalonts Cash and cash equivalents include cash in hand, deposits held al call with banks. other short-term liquid investments with original malurilies of three monlh8 or less. and bank overdrafts. Bank overdfafts are shown within borrowings in current liabilities, 1.7 Flnancial Ingtruments The trust has ele¢led to apply the provisions of Section 11 'Basic Financlal Instruments, and Section 12 '01her Finan¢lal Instruments Issues, of FRS 102 to all of its financial inslrumènts. Flnancial instruments are recognised in the Irusvs balanc8 sheet when the tru81 becomes party to the ¢onlfa¢tual provisions of the instrument. Financial assets and liabilities are offsel, wlth the net amounts presenlèd in tho financial statements, wh6n there is a18gally enforceable rlghl to set off the recognised amounts and ther8 is an inl8nlion to S81118 on a nel basis or to realise tha asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subs8quenlly Carried at amortised cost uslng Ihe effe¢live Interest melhod unless tha arrangement Conslilules a financing transacllon, where the transa¢tion is measured al the present valu8 of Ihe future receipts discounted al a market rale of Interest. Financial assets Classified as receivable within one year are ncl amortlsed. Baslc Ilnanclal Ilabllltlés Basic financial liabilities, includin9 creditors and bank loans are Inltially recognised al transaction prica unless the arrangement Gonslilutes a financing transaction, where the debt instrument 1$ measured al the present value of the future payments discounled at a market late of interest. Financial liabilities classified as payable within on8 year ar8 not amortised. Debt inslruments are subsequently carried at arnortlsed cost, uslng th8 effective inler8St ralg method. Trada creditors are obligations lo pay for goods or services that have been acquired in Ihe ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due wilhin one year or less. If not. they are presented a5 non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost usin9 the eff8Ctiv8 inlorest m9thod. Derecognition of financial liabllitles Financial liabililies are derecognised when the trusl's contractual obligations expire or are discharged or cancelled. Crltlcal accountlng estlmates and Judgémonts In the application of the tfusl's arKounting policie5, the truslees are required to make judgements, estimales and assumptions aboul Ihe carrying amount of assets and liabilities Ihal are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that afe considoied lo be relevanl. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to a¢¢ounting 6stimates are r8cognised in th8 period in which the estimate is revised where Ihe revision affects only Ihal period, or in the period of th8 revision and fulll periods where the revision affects both Current and future periods.
THE PODDE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Income from donatlon$ and legaci98 Unrèstricted Unre8trlctod funds funds 2024 2023 Donations and gifts 500 Charltable actlviti88 Olft Ald 1o¢elpi* 2024 Tax r•fund Tot•1 2024 GIftAld rgcolpt8 2023 Tax rèfund Total 2023 2024 2023 Income wllhin charitable activitles 56,500 13,975 70.475 55,900 13,500 69,400 Incom& from Inveslmonts Unr08trlcted Unrestricted funds funds 2024 2023 InteT8St r8¢eivable 208 57 Charltable actlvltlos 2024 2023 Accounlancy 126 126 Grant funding of activities (see nole 7) 71,174 70.086 71.300 70,212
THE PODDE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Grants payable 2024 2023 Grants to inslilutions.. Other 54,906 55,127 Grants lo individuals 16,268 14,959 71,174 70.088 Tru8te9$ None of the trustees (or any person5 connected with them) recelved any remuneratlon durlng the year. Employo The average monthly number ofemployees during the y8arwas'. 2024 Number 2023 Number Total There were no employees whose annual remun8ration was more than £60,IJIJO. 10 Taxation The chafily is exgmpl from taxation on ils adivities because all ils IncMe is applied for Charltable purposes. 11 Unrgstri¢ted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific ¢onditions by donors and grantors as to how Ih8y may be used. These include designated funds which have been set aslde out of unrestricted funds by the truslees for specifi¢ purposes, At 6 Aprll 2023 Incomlng Rosourc8S resources expended At 5Aprll 2024 General funds 5,468 71,183 {71,300) 5,351 Previous ygar: At 6 Aprll 2022 Incomlng Resou95 resourc•8 expendqd At 5Aprll 2023 General funds 6,223 69,457 (70,212) 5,468 10
THE PODDE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 12 Relatod party transactlons There were no disclosable related party transa¢lions during lh8 year (2023 none). 11
THE PODDE TRUST RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Gift Ald Receipts Tax Refund Bank Interest Gift 56,500.00 55,900.00 13,975.00 13,500.00 208.00 57.00 500.00 TOTAL INCOME 71,183.00 69,457.00 GRANTS TO INSTITUTIONS Abbey Church ACET International AFCU Antakya Church Armonla Blble Society Camphlll CAP Cenlrepoinl Christian Vision for Men Echoes International Friends of Turkey Gateway Church GIOu$ter City Mlsslon Greal Ormond Street HospilaS Haemophilia Sociely IFES London City Mission London School of Theology Marie Curie Mildmay Misslon Hospital Moorlands College (My Donate) 11,367.00 11,534.00 220.00 220.00 103.00 527.50 1,200.00 500.00 200,00 275.00 1,300.00 I,ooo.00 4,050.00 1,600.00 500.00 200.00 1,200.00 1,000.00 3,500.00 500.00 50.00 2,000.00 700.00 250.00 3,200,cIO 1,200,DO 250.DO 150.00 500.00 250.00 2,000.00 500.00 250.00 3,4QQ.00 1,200.00 25Q.00 103.00 500.00 250.00
THE PODDE TRUST RECEIPTS AND PAYMENTS (CONTINUED) FOR fHE YEAR ENDED 5 APRIL 2024 2024 2023 Omf Fish Project Open Doors Opeiation Mobilisalion Our Daily Bread Overseas Misslonary Fellowship Ripple Effect Royal Star and Garter Salvation Army SASRA Scripture Union Samaritan's Purse Sunny Days T.E.A.R. Fund Turning the Tide Trust U.C.C.F. Urban Saints {Crusad8rs1 3H Foundation 2,400.00 1,700.00 2,900.00 loo.00 6,750.00 1,785.00 300.00 103.00 250.00 1,722.50 1,750.00 2,400.00 2,700.00 1,800.00 20.00 6.200.00 1,400.00 250.00 103.00 450.00 1,200.00 2,850.00 100,00 3,650.00 800.00 1,200.00 1,200,00 2,500.00 800.00 1,200.00 1,200,00 250.00 TOTAL TO INSTITUTIONS 54,906.00 55,127.00 GRANTS TO INDIVIDUALS Mr. & Mrs. E. Banderkile Mr. & Mrs. J. Bradford Mrs. A. Burger Mr. & Mrs. M. Curtis Mr. & Mrs G. Dancey Miss. M. Davis 4,150,00 loo.00 250.00 800.00 250,00 loo.00 4,962.00 ioo.oo 350.00 800.00 250.00 loo.00
THE PODDE TRUST RECEIPTS AND PAYMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Mr. & Mrs. C. Dougan Mrs. A. Emmanuel T. Hodge Mr. V. Jack Mr. & Mrs. Y. S. Lee Mr. a Mrs. M. Lomas Mr. & Mrs. R. Malstead Mr. N. Mortin Mr. & Mrs. J. O'Brien Mr. & Mrs A Patching J. Onyango Mr. & Mrs. G. Reed Hannah Shipley R & Z S18nford Mr. & Mis. C. Thomas Mr. & Mr8. C. Wintle 206.00 3.900.00 200.00 3,100.00 50.00 loo,00 200.00 2,100.00 loo.00 300,00 250,00 1,000.00 IDO.OD 300.00 1,900.00 loo.00 200.00 250.00 197.00 1,400.00 2c,00 200.00 200.00 1,550.00 200.00 262.00 200.00 Z50,00 TOTAL TO INDIVIDUALS 16,268,00 14,959.00 TOTAL GRANTS 71,174.00 70,086.00 EXPENSES Accountancy 126.00 120,00 126.00 120.00 TOTAL EXPENDITURE 71,300,00 70,206.00