Charity registration number 1016322 (England and Wales)
THE PODDE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
THE PODDE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr. P. B. Godfrey Dr. D. F. Maxted Mr. A.G. Gent Mr A Conlan (Appointed 10 June 2024) Charity number (England and Wales) 1016322 Principal address 68 Green Lane Hucclecote Gloucester Gloucestershire GL3 3QX Accountants Claire Bishop FCCA ACA Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG
THE PODDE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Statement of trustees' responsibilities | 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 10 |
THE PODDE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their annual report and financial statements for the year ended 5 April 2025.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The trust's objects are to support or promote such charitable purposes as the trustees may in their absolute discretion determine.
The charity relies on private donations. This income has been used to supply grants to institutions and individuals who fall within the auspices of the charity's objectives.
As in all charities of this nature, the organisation relies upon the continued financial support of the individuals concerned.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
Achievements and performance
The focus of the trusts' activities remains the donation of monies to both organisations and individuals who are involved in a wide variety of Christian ministry works both in the U.K. and abroad.
Ongoing contributions have been made to a number of organisations providing social benefits. These include Gloucester City Mission, London City Mission, Armonia, Centrepoint, TEAR Fund and Operation Mobilisation. Contributions continue to be made to organizations involved in aid work in Myanmar following the earthquake.
Financial review
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 more than £5,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. The trustees made the decision to reduce the level of reserves again this year and increase distributions as the only expense of the charity is the independent examination fee.
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trust was established by a charitable trust deed in January 1993.
The trustees who served during the year were: Mr. P. B. Godfrey Dr. D. F. Maxted Mr. A.G. Gent Mr A Conlan (Appointed 10 June 2024)
The trustees' report was approved by the Board of Trustees.
Mr. P. B. Godfrey
Trustee Dated: 18 June 2025
- 1 -
THE PODDE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 5 APRIL 2025
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees 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 application of resources of the trust for that year.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 2 -
THE PODDE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PODDE TRUST
I report to the trustees on my examination of the financial statements of The Podde Trust (the trust) for the year ended 5 April 2025.
Responsibilities and basis of report
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
-
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Claire Bishop FCCA ACA
Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG 18 June 2025
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THE PODDE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 12,015 | 500 |
| Charitable activities | 4 | 74,075 | 70,475 |
| Investments | 5 | 267 | 208 |
| Total income | 86,357 | 71,183 | |
| Expenditure on: | |||
| Charitable activities | 6 | 86,098 | 71,300 |
| Total expenditure | 86,098 | 71,300 | |
| Net income/(expenditure) and movement in funds | 259 | (117) | |
| Reconciliation of funds: | |||
| Fund balances at 6 April 2024 | 5,351 | 5,468 | |
| Fund balances at 5 April 2025 | 5,610 | 5,351 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
THE PODDE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| Notes Current assets Cash at bank and in hand Net current assets The funds of the trust Unrestricted funds 11 |
2025 £ 5,610 |
£ 5,610 5,610 5,610 |
2024 £ 5,351 |
£ 5,351 |
|---|---|---|---|---|
| 5,351 | ||||
| 5,351 |
The financial statements were approved by the trustees on 18 June 2025
Mr. P. B. Godfrey Trustee
- 5 -
THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
Company information
The Podde Trust is a registered charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's Trust Deed dated 4th January 1993, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to 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 statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4 Incoming resources
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Resources expended
Liabilities and related expenditure are recognised in full in the accounts as soon as an obligation arises.
- 6 -
THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 7 -
THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
3 Income from donations and legacies
| Unrestricted | Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2025 | 2024 | |||||
| £ | £ | |||||
| Donations and gifts | 12,015 | 500 | ||||
| Charitable activities | ||||||
| Gift Aid | Tax refund | Total | Gift Aid | Tax refund | Total | |
| receipts | 2025 | receipts | 2024 | |||
| 2025 | 2025 | 2024 | 2024 | |||
| £ | £ | £ | £ | £ | £ | |
| Income within charitable | ||||||
| activities | 59,950 | 14,125 | 74,075 | 56,500 | 13,975 | 70,475 |
4 Charitable activities
5 Income from investments
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Interest receivable | 267 | 208 | ||
| 6 | Charitable activities | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Accountancy | 126 | 126 | ||
| Grant funding of activities (see note 7) | 85,972 | 71,174 | ||
| 86,098 | 71,300 |
- 8 -
THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
7 Grants payable
| Grants to institutions: Other Grants to individuals |
2025 £ 65,222 20,750 85,972 |
2024 £ 54,906 16,268 |
|---|---|---|
| 71,174 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year.
9 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General funds Previous year: At General funds |
6 April 2024 Incoming resources Resources expended At £ £ £ 5,351 86,357 (86,098) 6 April 2023 Incoming resources Resources expended At £ £ £ 5,468 71,183 (71,300) |
5 April 2025 £ 5,610 |
|---|---|---|
| 5 April 2024 £ 5,351 |
- 9 -
THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
12 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
- 10 -
THE PODDE TRUST
RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 5 APRIL 2025
| Gift Aid Receipts Tax Refund Bank Interest Gift TOTAL INCOME GRANTS TO INSTITUTIONS Abbey Church ACET International AFCU Antakya Church Armonia Bible Society BMS World Mission Camphill CAP Centrepoint Christian Vision for Men Echoes International Fountains of Peace Gloucester City Mission Great Ormond Street Hospital Haemophilia Society Hillview Church Holy Trinity Cheltenham IFES London City Mission London School of Theology Marie Curie Mercy UK Mildmay Mission Hospital Mission Without Borders Moorlands College (My Donate) |
2025 2024 59,950.00 56,500.00 14,125.00 13,975.00 267.08 208.00 12,015.00 500.00 |
|---|---|
| 86,357.08 71,183.00 |
|
| 12,200.00 11,367.00 250.00 220.00 - 103.00 1,028.00 527.50 1,200.00 1,200.00 1,000.00 500.00 250.00 - 250.00 200.00 - 275.00 1,200.00 1,300.00 1,000.00 1,000.00 5,200.00 4,050.00 50.00 - 2,000.00 2,000.00 500.00 500.00 250.00 250.00 1,000.00 - 4,500.00 - 4,000.00 3,400.00 1,200.00 1,200.00 250.00 250.00 250.00 103.00 250.00 - 752.00 500.00 50.00 - 250.00 250.00 |
THE PODDE TRUST
RECEIPTS AND PAYMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
| Omf Fish Project Open Doors Operation Mobilisation Our Daily Bread Overseas Missionary Fellowship Remitly Kakuma (refugees) Ripple Effect Royal Star and Garter Salvation Army SASRA Scripture Union Samaritan's Purse Stewardship (C. Dougan) T.E.A.R. Fund Turning the Tide Trust U.C.C.F. Urban Saints (Crusaders) 3H Foundation TOTAL TO INSTITUTIONS GRANTS TO INDIVIDUALS |
2025 2024 2,800.00 2,400.00 1,200.00 1,700.00 2,250.00 2,900.00 50.00 100.00 8,250.00 6,750.00 387.00 - 1,400.00 1,785.00 100.00 300.00 100.00 103.00 250.00 250.00 1,200.00 1,722.50 1,955.00 1,750.00 250.00 - 2,700.00 2,500.00 800.00 800.00 1,200.00 1,200.00 1,200.00 1,200.00 250.00 250.00 65,222.00 54,906.00 |
|---|---|
| Mr. & Mrs. E. Banderkile | - | 4,150.00 |
|---|---|---|
| Mr. & Mrs. J. Bradford | 100.00 | 100.00 |
| Mrs. A. Burger | 250.00 | 250.00 |
| Mr. & Mrs. M. Curtis | 800.00 | 800.00 |
| Mr E. Dancy | 1,000.00 | - |
| Mr. & Mrs. G. Dancey | 1,000.00 | 250.00 |
| Miss. M. Davis | 100.00 | 100.00 |
THE PODDE TRUST
RECEIPTS AND PAYMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
| Mr. & Mrs. C. Dougan Mrs. A. Emmanuel Mr & Mrs T Hodge Mr. V. Jack Mr. & Mrs. Y. S. Lee Mr. & Mrs. M. Lomas Mr. & Mrs. R. Malstead Mr. N. Mortin Mr. & Mrs. J. O'Brien Mr. & Mrs A. Patching Mr. & Mrs. G. Reed Hannah Shipley Hannah Shipley - Siena Church Mr & Mrs R. Stanford Mr. & Mrs. C. Thomas Mr. & Mrs. C. Wintle TOTAL TO INDIVIDUALS TOTAL GRANTS EXPENSES Accountancy TOTAL EXPENDITURE |
2025 2024 250.00 206.00 5,150.00 3,900.00 100.00 - 100.00 100.00 300.00 200.00 - 2,100.00 100.00 100.00 250.00 300.00 250.00 250.00 - 1,000.00 4,000.00 1,550.00 250.00 200.00 6,000.00 250.00 262.00 250.00 200.00 250.00 250.00 |
|---|---|
| 20,750.00 16,268.00 |
|
| 85,972.00 71,174.00 126.00 126.00 |
|
| 126.00 126.00 |
|
| 86,098.00 71,300.00 |
Charity registration number 1016322 (England and Wales)
THE PODDE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
THE PODDE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr. P. B. Godfrey Dr. D. F. Maxted Mr. A.G. Gent Mr A Conlan (Appointed 10 June 2024) Charity number (England and Wales) 1016322 Principal address 68 Green Lane Hucclecote Gloucester Gloucestershire GL3 3QX Accountants Claire Bishop FCCA ACA Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG
THE PODDE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Statement of trustees' responsibilities | 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 10 |
THE PODDE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their annual report and financial statements for the year ended 5 April 2025.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The trust's objects are to support or promote such charitable purposes as the trustees may in their absolute discretion determine.
The charity relies on private donations. This income has been used to supply grants to institutions and individuals who fall within the auspices of the charity's objectives.
As in all charities of this nature, the organisation relies upon the continued financial support of the individuals concerned.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
Achievements and performance
The focus of the trusts' activities remains the donation of monies to both organisations and individuals who are involved in a wide variety of Christian ministry works both in the U.K. and abroad.
Ongoing contributions have been made to a number of organisations providing social benefits. These include Gloucester City Mission, London City Mission, Armonia, Centrepoint, TEAR Fund and Operation Mobilisation. Contributions continue to be made to organizations involved in aid work in Myanmar following the earthquake.
Financial review
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 more than £5,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. The trustees made the decision to reduce the level of reserves again this year and increase distributions as the only expense of the charity is the independent examination fee.
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trust was established by a charitable trust deed in January 1993.
The trustees who served during the year were: Mr. P. B. Godfrey Dr. D. F. Maxted Mr. A.G. Gent Mr A Conlan (Appointed 10 June 2024)
The trustees' report was approved by the Board of Trustees.
Mr. P. B. Godfrey
Trustee Dated: 18 June 2025
- 1 -
THE PODDE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 5 APRIL 2025
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees 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 application of resources of the trust for that year.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 2 -
THE PODDE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PODDE TRUST
I report to the trustees on my examination of the financial statements of The Podde Trust (the trust) for the year ended 5 April 2025.
Responsibilities and basis of report
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
-
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Claire Bishop FCCA ACA
Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG 18 June 2025
- 3 -
THE PODDE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 12,015 | 500 |
| Charitable activities | 4 | 74,075 | 70,475 |
| Investments | 5 | 267 | 208 |
| Total income | 86,357 | 71,183 | |
| Expenditure on: | |||
| Charitable activities | 6 | 86,098 | 71,300 |
| Total expenditure | 86,098 | 71,300 | |
| Net income/(expenditure) and movement in funds | 259 | (117) | |
| Reconciliation of funds: | |||
| Fund balances at 6 April 2024 | 5,351 | 5,468 | |
| Fund balances at 5 April 2025 | 5,610 | 5,351 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
THE PODDE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| Notes Current assets Cash at bank and in hand Net current assets The funds of the trust Unrestricted funds 11 |
2025 £ 5,610 |
£ 5,610 5,610 5,610 |
2024 £ 5,351 |
£ 5,351 |
|---|---|---|---|---|
| 5,351 | ||||
| 5,351 |
The financial statements were approved by the trustees on 18 June 2025
Mr. P. B. Godfrey Trustee
- 5 -
THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
Company information
The Podde Trust is a registered charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's Trust Deed dated 4th January 1993, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to 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 statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4 Incoming resources
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Resources expended
Liabilities and related expenditure are recognised in full in the accounts as soon as an obligation arises.
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THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
3 Income from donations and legacies
| Unrestricted | Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2025 | 2024 | |||||
| £ | £ | |||||
| Donations and gifts | 12,015 | 500 | ||||
| Charitable activities | ||||||
| Gift Aid | Tax refund | Total | Gift Aid | Tax refund | Total | |
| receipts | 2025 | receipts | 2024 | |||
| 2025 | 2025 | 2024 | 2024 | |||
| £ | £ | £ | £ | £ | £ | |
| Income within charitable | ||||||
| activities | 59,950 | 14,125 | 74,075 | 56,500 | 13,975 | 70,475 |
4 Charitable activities
5 Income from investments
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Interest receivable | 267 | 208 | ||
| 6 | Charitable activities | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Accountancy | 126 | 126 | ||
| Grant funding of activities (see note 7) | 85,972 | 71,174 | ||
| 86,098 | 71,300 |
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THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
7 Grants payable
| Grants to institutions: Other Grants to individuals |
2025 £ 65,222 20,750 85,972 |
2024 £ 54,906 16,268 |
|---|---|---|
| 71,174 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year.
9 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General funds Previous year: At General funds |
6 April 2024 Incoming resources Resources expended At £ £ £ 5,351 86,357 (86,098) 6 April 2023 Incoming resources Resources expended At £ £ £ 5,468 71,183 (71,300) |
5 April 2025 £ 5,610 |
|---|---|---|
| 5 April 2024 £ 5,351 |
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THE PODDE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
12 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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