## **The Pepper Foundation**
Trustees’ Report and Financial Statements for the year ended 31st March 2023
Charity Number 1056823 Company Number 02797940 (England & Wales)
## **The Pepper Foundation**
Trustees’ Report and Financial Statements for the year ended 31st March 2023
**Status** The Pepper Foundation is a company limited by guarantee, Number: 02797940. It is also a registered charity: Number: 1056823. Unit 3, Icknield Way Industrial Park, **Registered Office & Principal Office** Icknield Way, Tring, Hertfordshire HP23 4JX **Telephone** Fundraising: 01442 507324 / 01442 507311 **Email** ask@pepper.org.uk **Website** pepper.org.uk **Social media** facebook.com/pepperfoundation twitter.com/pepper_org_uk instagram.com/the_pepper_foundation linkedin.com/company/the-pepper-foundation-org **Independent Examiner** Tyler-Waddington, Tyn Fannog, Adfa, Powys , SY16 3DE
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
1
## **Chair of Trustees**
Robert Breakwell
## **Company Secretary Financial Trustee**
Moira Massingale
Philip Jones
## **Trustees**
David John Bevan Robert Breakwell Anthony Philip Chudleigh Kerie-Anne Florence Ivory (resigned 21st September 2023) Patricia Mary Daley (resigned 28th March 2023) Caroline Hawkes (appointed 28th March 2023) Philip Jones Linda Petrons (resigned 7th December 2022) Eric Pillinger (appointed 21st September 2023) Christine Ronaldson (resigned 14th February 2023) Patrick John Stevens (resigned 5th March 2023) Jonathan Tweed (appointed 12th January 2023)
## **Patrons**
Robert Breakwell Trisha Buller Jo Collier Dennis Fairey Linda Horsfall Moira Massingale The Rt Hon Sir Mike Penning MP Rod Rogers Jonathan Tweed
**Founders** Robert Breakwell Paul Goode The Rev Dr Chrichton Limbert Judith Limbert **Bankers** Barclays Bank UK Plc Sort code: 20 65 90 Account No.: 00620467
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **Welcome**
## **Everyone working with The Pepper Foundation (Pepper) cares deeply about the children’s hospice at home service that we fund.**
The service would be unsustainable without the money raised by Pepper and the modest amount of government funding Rennie Grove Peace Hospice Care (RGPHC) receives directly. Future government funding for hospice care is by no means certain and the level of uncertainty is growing.
So, Pepper has made a long term commitment to ensure that the service is always available for the children and their families who need it. We aim to raise the funds needed each year working with our partner charity, Rennie Grove Peace Hospice Care.
The charity also plays an active part in supporting children and families by organising outings, visits and social occasions were the children receiving care, their siblings, parents and carers can share their experiences.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **Mission**
Our mission is to raise funds to support families and children’s hospice care at home for children with life limiting or life-threatening conditions in Herts and Bucks.
## **Values**
Our work is shaped and guided by our values.
We are committed to ensuring children with life-limiting or **Caring** life-threatening conditions and their families are able to live as full lives as possible. We invest in our local communities, valuing and recognising **Community-focused** the contributions of our supporters and volunteers in fulfilling our mission. We are innovative and go the extra mile to ensure our **Creative** fundraising events and activities increase support for the Pepper brand and mission. We are dedicated to supporting RGPHC’s children’s nursing **Passionate** service and ensuring that life-limited children and families receive the care and support they need. We provide good governance and deliver value for money **Trustworthy** by ensuring openness and transparency in all we do. Music plays a big part in our history and our fundraising and **Musical** we believe that music is a powerful force for good.
## **Aims**
Pepper exists to alleviate the suffering of children with complex health needs or life limiting conditions. We achieve this by providing substantial funding for a children’s hospice at home service which is managed by RGPHC.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
**4**
## **Thank ! you**
## **Our volunteers**
Our growing number of volunteers play an essential role in fundraising as well as in the day-to-day running of the charity. Thank you for the hundreds of hours you have given to support the charity.
**The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023**
**5**
## **Our supporters**
We want to thank the large number of people and organisations who have supported the charity through donations, grants, fundraising activities and in many other ways throughout the year. Thank you for sharing in our mission.
## **Our colleagues**
We have a small but brilliant team of fundraising staff and professionals whose dedication and hard work enables us to operate with low overheads. We thank them for their energy and commitment.
**The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 202** 23
**6**
## **Now**
We are aware that RGPHC receives regular contributions to the costs of the children’s hospice at home service through government funding and that the continuation of such funding is uncertain. Pepper aims to provide all the additional funds needed to sustain the service and to set medium term plans in place to do this. Whilst Pepper’s historical support levels have significantly exceeded the government contributions, the task of keeping this going would be made much more difficult in the event that government funding were to cease.
Our organisational strategy recognises:
- the uncertainty about government funding and the potential need to provide increased sums in future years; and
- that RGPHC now has an expanded geographical area and there may be a need for an expansion of the children’s hospice at home service depending on a detailed review of children’s service across the expanded area.
We are actively positioning Pepper to meet these challenges through strengthening our financial reserves and expanding our fundraising capability. Our key objective is to fund the direct costs of the RGPHC children’s hospice at home service based on agreed budget projections. We achieved this during the year by making a substantial grant of **£255,000** .
Pepper also supports patients and families in the care of RGPHC service by organising social events. These events are designed to support and engage with families facing similar challenges by bringing them together in a supportive, safe and social environment.
Each year, we aim to run an events programme for patients and families including family visits to open farms, soft play areas and the zoo, curry nights and afternoon teas for mums and dads. During the year, our efforts were restricted once again by the aftermath of the Covid pandemic because of the ongoing health risks to children with life-limiting conditions. However, a family visit to Whipsnade Zoo did take place.
With restrictions easing, we are working on a more ambitious programme of events for the year ahead.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **Fundraising Strategy**
In early 2022, the trustees put a detailed 3 year fundraising strategy in place from April 2022 to March 2025. The strategy addressed the need to raise additional funds during the three year period of the plan
- to remove the need to draw on financial reserves to meet
- RGPHC’s requirements;
- to respond to a potential requirement for additional funds due to growth
- in the RGPHC service provision and heightened inflationary pressures;
- to expand our fundraising capability;
- to reduce reliance on the support of major donors.
At the end of the first year of the three year plan, the actions identified to achieve the objectives have all been met.
The implementation of a reconfigurated fundraising team began including
- using volunteers to provide more administrative support to allow fundraisers to focus solely on income generation;
- the planned recruitment of a Head of Fundraising;
- increased investment in raising funds from trusts and foundations;
- the planned recruitment of an additional fundraiser focussing on community fundraising and volunteer management and recruitment; and additional resource in marketing and digital communications.
The financial target and objectives were all achieved and the minimum 3:1 return on investment target in fundraising was exceeded. A new fundraising database was procured providing improved marketing and communication facilities and integrations with social media.
Grants from trusts and foundations continued to make up a high proportion of funds raised whilst we continued to operate a broad-based approach to community fundraising which generated income from companies, personal and corporate donations, legacies, challenge events, community events, schools, clubs, restaurants and pubs.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **History**
**In 1989 the founders organised a highlysuccessful charitable performance of the Beatles’ “Sgt. Pepper’s Lonely Hearts Club Band” album. Similar performances followed in subsequent years galvanising community support and making it possible to formalise the annual Pepper Show as a flagship event and build further fundraising support.**
The Pepper Foundation was established as a registered charity in 1996 to focus on raising the funds to meet a growing need for an innovative new service: a nurse-led children’s hospice at home service working in partnership with the charity that is now Rennie Grove Peace Hospice Care (RGPHC).
Demand for the service increased steadily and The Pepper Foundation has been able to completely or substantially fund the service ever since donating over £5 million since its inception.
Remarkably, an annual rock music concert involving children, amateur musicians, schools, volunteers and stage technicians has taken place every year since 1989 except 2020 due to the pandemic. The 34th show took place in October 2023.
The importance of Pepper’s flagship event remains high as a massive opportunity to engage with musicians, singers, technicians and volunteers of all ages who come together to produce a stunning show which is always appreciated by audiences old and new. Involving over 100 volunteers, we thank the volunteer production team and everyone who takes part.
Music has always been at the heart of the charity’s ethos and we plan to weave the musical theme into more strands of our fundraising in the future.
**The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023**
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## **Finances**
The total amount raised in the year excluding investment income was **£403,355** . The cost associated with generating this income was **£62,282** . Therefore, our fundraising costs represented just **15.4%** of fundraised income during the year, a return on investment of **6.4%** .
We made grants to **Rennie Grove Peace Hospice Care** totalling:
**£255,000**
**The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 202** 23
**10**
## **The Children’s Hospice at Home Service we fund**
Adopting a whole-family approach to help families live the best quality life they can, the children’s hospice at home service supports babies and children with life-limiting conditions living in Buckinghamshire and Hertfordshire. With many years of experience, the service is regarded as a lifeline for children and young people up to the age of 19 as well as providing invaluable support for parents, siblings and carers.
The service is provided free of charge.
The service recognises the intensity of caring for a child who has a life-limiting illness while managing all the usual responsibilities of family life and can provide support for children with a wide range of conditions with no requirement for a child to be within the last year of life to receive support.
For many children, care is provided for extended periods, sometimes discharging them following successful treatment or transitioning them to adult services.
There are three key elements to the children’s hospice at home service:
## **Specialist nursing care at home to keep children out of hospital and family life intact**
The team of specialist nurses and healthcare assistants make planned and responsive visits to the child’s home. They offer respite care as well as specialist advice, and they liaise with other healthcare professionals on a family’s behalf. They work with everyone involved in a child’s care to ensure any change in the child’s condition can be responded to quickly.
Nurses provide flexible, responsive clinical support carefully tailored to the needs of each child, enabling them to live as fulfilling a life as possible, however short their life might be. The nurses also provide essential support and respite for the parents, siblings and carers of our child patients, and understand completely how the whole family is impacted by such a difficult situation.
Children and families approaching the end of life can be offered support on a 24/7 basis.
## **Respite care, play sessions and social activities for children with life-limiting conditions and their families**
The children’s team also provides short respite breaks for parents and sessions with play specialists at home or at Grove House. Delivered and hosted by inhouse experts, these can help families enjoy precious moments that will be remembered forever.
For example, the play specialist has an extensive collection of toys, games and sensory resources, many of which can be specially adapted to changing abilities, to bring a magical hour of sensory stories, music and light into families’ homes. Above all, this enhances children’s quality of life, supporting their development, reducing anxiety and boosting the whole family’s wellbeing.
## **Listening and talking therapies for children, young people and their families**
The team can offer young patients and their families the valuable chance to talk with trained listeners and specialist counsellors. This service can be available to parents, siblings or grandparents of a child on the caseload and can be accessed in a range of ways.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **Impact**
In 2022/23 the children’s hospice at home team provided:
## **56**
The Specialist Nurses provided compassionate care and support to a total of 56 children with life-limiting and life-threatening conditions, providing them and their families with practical nursing and emotional support.
telephone calls to home visits from provide support, nurses to provide care advice and guidance **841** or respite support
## **2,416 279**
incidences of attendance at the children’s group play sessions, which included child patients and their siblings, as well as children of adult patients.
## **Children’s Nursing Team**
The service employs a team of nurses and the current establishment of the children’s team in 2022-2023 is as follows:
**----- Start of picture text -----**
Number of
Position Full time equivalent
people
Nurse/Team leader 1 1.0
Specialist Nurses 3 2.47
Healthcare Assistant 2 1.6
Senior Play Specialist 1 1.0
Play Worker 1 0.4
Total 8 6.47
**----- End of picture text -----**
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **FINANCIAL STATEMENTS**
The Pepper Foundation (Reg. No. 02797940) 13 Directors and Trustees’ Annual Report for the Year ended 31 March 2022
The Pepper Foundation (Reg. No. 02797940) 13 Directors and Trustees’ Annual Report for the Year ended 31 March 2023
## **FINANCIAL STATEMENTS**
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS102).
This document is designed to meet statutory requirements and also provide the depth of information that is often required by grant making trusts, donors, legators, statutory bodies and anyone who needs information about our performance, achievements and aspirations.
The charity is committed to the aim of providing public benefit in accordance with its objectives. Charity legislation requires demonstration of that public benefit, and the charity achieves this by making grants to fund the children’s hospice at home service.
## **GOVERNANCE**
The Pepper Foundation is a registered charity (number 1056823) and a company limited by guarantee and registered in England (number 02797940) and is governed by its Memorandum and Articles of Association.
The company was incorporated on 10th March 1993 and registered as a charity on 16th July 1996. In the event of the company being wound up each of its members is required to contribute an amount not exceeding £1. Members who are appointed by the trustees have demonstrated ongoing and committed support for the charity and its many activities. Membership is reviewed each year.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **TRUSTEES**
**In accordance with the Memorandum and Articles of Association, trustees are elected and appointed at the Annual General Meeting by the charity’s members. They serve for a period of three years; one third of the trustees retires by rotation at every Annual General Meeting, and if eligible may stand for re-election.**
New trustees are often recruited from the members or volunteers of the charity. Although any member can stand as a trustee, the board is mindful of the onerous responsibilities laid upon it and actively encourages those members with suitable skills to put themselves forward. If necessary, the board may co-opt further trustees during the year, their appointment being confirmed by election at the next Annual General Meeting.
## **Trustee experience**
Trustees are drawn from a variety of relevant professional backgrounds including business and charity management, finance, fundraising, law, communications, marketing, training and human resources. They have been recruited to provide the breadth of experience and mix of skills needed to govern the charity in line with all relevant legislation, regulation and best practice.
## **Meetings & Communications**
The trustees meet at least 8 times a year to develop strategy and monitor progress against agreed strategic objectives and agree an annual business plan and budget. The charity receives regular reports about the activities and performance of the children’s hospice at home team, fundraising activities, monthly financial management accounts, and risk (including safeguarding).
Reports about the service Pepper funds are received and reviewed at trustee meetings and representatives from RGPHC including the Chief Executive and Director of Clinical Services also attend trustees’ meetings regularly.
The trustees have established sub-committees which meet regularly to review reports in greater depth. These include a fundraising sub-committee, a communications group and a finance committee. Trustee working groups are also convened from time to time to look at areas of immediate interest such as human resources.
In addition, the chairman and other trustees have at least bi-annual meetings with RGPHC to discuss the children’s hospice at home team and how it may best support the services for which it provides full or partial funding.
Although we work as partners and have close co-operation with RGPHC, none of our trustees or employees hold appointments within both organisations.
None of our trustees receive remuneration or other benefits from their work with the charity. Any contractual relationships would have to be disclosed to the board.
As a small charity, the trustees are actively involved in the management of the organisation working alongside retained staff.
The trustees have identified risks within the charity, which are potentially in finance and the health and safety of its volunteers and the public attending its events. Through risk assessment these risks are mitigated appropriately.
The bank balances are reviewed at trustees’ meetings and we take care not to exceed the financial compensation limit at each institution. We have procedures in place for the handling and accounting of cash donations, sponsorship and ticket monies and control of our credit card machines.
Risk assessments are carried out for all events held by the charity and its trading subsidiary and any points highlighted by the assessment are addressed at the time.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **RESERVES POLICY**
The reserves policy is intended to cover our essential overhead costs and ensure we have sufficient funds to avoid disruption of care for the children using estimated nursing team costs provided by RGPHC.
At 31st March 2023 the unrestricted fund balance was **£307,278** which satisfies our reserves requirement. Given the increasing cost of the nursing service and our present levels of fundraising, the trustees’ current commitment to RGPHC is to restrict distribution of our funds solely to the children’s hospice at home service.
The trustees believe that it is prudent to hold reserves to cover periods when fundraising is challenging as was particularly the case during the Covid-19 pandemic. In the opinion of the trustees, the charity’s assets are sufficient to meet its funding obligations.
## **INVESTMENT POLICY**
The trustees have the power to invest in such assets as they see fit. Currently funds are protected as far as possible by limiting investment in each individual institution to the maximum protection offered by the Financial Services Compensation Scheme. Committed grants are handed over as soon as possible.
## **CONNECTED CHARITIES**
For the purpose of the Charities Act 2011 the charity is not connected in any way with any other charity.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **STATEMENT OF RESPONSIBILITIES OF THE DIRECTORS**
The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GAAP).Company law requires Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the surplus or deficit for that period. In preparing those financial statements, the directors are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charity SORP
- Make judgements and estimates that are reasonable and prudent
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors are also responsible for the maintenance and integrity of the corporate and financial information included on the company’s website.
The Directors confirm to the best of their knowledge and belief that these financial statements comply with the current statutory requirements, the Memorandum and Articles of Association and with 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 (FRS102).
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **DECLARATION**
The report of the directors has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Signed on behalf of the Board
## **Robert Breakwell**
16[th] November 2023
Chairman of Trustees
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **INDEPENDENT EXAMINER’S REPORT**
|**Report to the trustees of:**|The Pepper Foundation|
|---|---|
|**On accounts for the year ended:**|31st March 2023|
|**Charity Number:**|1056823|
|**Company Number:**|02797940|
|**Set out on pages:**|20 to 34|
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.
## **Responsibilities and basis of report**
As the charity’s trustees of the company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b)) of the 2011 Act.
## **Independent examiner's statement**
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
- Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- The accounts do not accord with such records; or
- The accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
- The accounts have not been prepared in accordance with the Charities SORP (FRS102).
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 accounts to be reached.
Signed
## 23[rd] November 2023
## Name: **Eliot Tyler-Waddington**
**A.C.A** Relevant professional qualification(s) or body:
**The Institute of Chartered Accountants in England and Wales Address: Tyn Fannog, Adfa, Newtown, Powys, SY16 3DE**
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **STATEMENT OF FINANCIAL ACTIVITIES**
(including summary income and expenditure account)
|**Note**
**Income**
3
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Separate material item of income
Other
**Total**
**Expenditure**
5
Expenditure on:
Raising funds
Charitable activities
Other
**Total**
Net income/(expenditure) before tax
for the reporting period
Tax payable
Net income/(expenditure) after tax
before investment gains/(losses)
Net gains/(losses) on investments
Net income/(expenditure)
Extraordinary items
Transfers between funds
Other recognised gains/(losses):
Gains and losses on revaluation of
fixed assets for the charity’s own use
Other gains/(losses)
**Net movement in funds**
Reconciliation of funds:
Total funds brought forward
**Total funds carried forward**|**Unrestrict-**
**ed funds**
**Restrict-**
**ed income**
**funds**
**Endow-**
**ment**
**funds**
**Total**
**funds**
**£**
**£**
**£**
**£**
143,755
259,600
-
403,355
-
-
-
-
-
-
-
-
1,613
42
-
1,655
-
-
-
-
-
-
-
-
**145,368**
**259,642**
**-**
**405,010**
62,282
-
-
62,282
732
255,108
-
255,840
13,906
-
-
13,906
**76,920**
**255,108**
**-**
**332,028**
68,448
4,534
-
72,982
-
-
-
-
68,448
4,534
-
72,982
-
-
-
-
68,448
4,534
-
72,982
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**68,448**
**4,534**
**-**
**72,982**
238,830
4,764
-
243,594
**307,278**
**9,298**
**-**
**316,576**
**Restricted**
**income**
**funds**
**Total**
**funds**
**Endownment**
**funds**
**Unrestricted**
**funds**|**Prior year**
**funds**
**£**
314,980
-
-
945
-
-
**315,925**
60,749
252,106
18,101
**330,956**
(15,031)
-
(15,031)
-
(15,031)
-
-
-
-
**(15,031)**
258,625
**243,594**
**Prior year**
**funds**|
|---|---|---|
The numbered notes attached to these accounts form part of the financial statements.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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## **The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **BALANCE SHEET**
|**Note**
Fixed assets
Intangible assets
Tangible assets
9
Heritage assets
Investments
10
Total fixed assets
Current assets
Stocks
Debtors
11
Investments 12
Cash at bank and in
hand
13
**Total current assets**
Creditors: amounts
falling due within one
year
14
**Net current assets/(liabilities)**
**Total assets less current**
**liabilities**
Funds of the Charity
Restricted income funds
15
Unrestricted funds
Revaluation reserve
Fair value reserve
**Total funds**|**Unrestricted**
**funds**
**£**
-
1,779
-
1
**1,780**
-
664
85,000
226,541
**312,205**
6,707
**305,498**
**307,278**
-
307,278
-
-
**307,278**|**Restricted**
**income**
**funds**
**£**
-
-
-
-
**-**
-
-
-
9,298
**9,298**
-
**9,298**
**9,298**
9,298
-
-
-
**9,298**|**Endowment**
**funds**
**£**
-
-
-
-
**-**
-
-
-
-
**-**
-
**-**
**-**
-
-
-
-
**-**|**Total**
**this**
**year**
**£**
-
1,779
-
1
**1,780**
-
664
85,000
235,839
**321,503**
6,707
**314,796**
**316,576**
9,298
307,278
-
-
**316,576**|**Total**
**last**
**year**
**£**
-
947
-
1|
|---|---|---|---|---|---|
||||||**948**|
||||||-
16,933
-
227,413|
||||||**244,346**|
||||||1,700|
||||||**242,646**|
|||||||
||||||**243,594**|
||||||-
4,764
238,830
-
-|
||||||**243,594**|
The numbered notes attached to these accounts form part of the financial statements.
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with S.476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Approved by the trustees on 16th November 2023 and signed on their behalf by
## **16th November 2023**
**Robert Breakwell, Chair of Trustees**
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
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**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **NOTES TO THE ACCOUNTS**
## **1.1 Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of recommended Practice: Accounting and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued on 16th July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
## **1.2 Going concern**
The trustees consider that there are no material uncertainties related to events or conditions that cast doubt on the charity’s ability to continue as a going concern.
## **1.3 Change of accounting policy**
The accounts present a true and fair view and no changes have been made to the accounting policies.
## **1.4 Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period.
## **1.5 Material prior year errors**
No material prior year errors have been identified in the reporting period (3.47 FRS102 SORP).
## **NOTE 2: ACCOUNTING POLICIES**
## **2.1 Income**
## **Recognition of income**
Income is recognised in the Statement of Financial Activities (SoFA) when:
- the charity becomes entitled to the resources;
- it is more likely than not that the Trustees will receive the resources;
- the monetary value can be measured with sufficient reliability.
## **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP.
## **Grants and donations**
Grants and donations are only included in the SoFA when the general income recognition criteria are met.
## **Legacies**
Legacies are included in the SoFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
## **Government grants**
The charity has received no government grants in the reporting period.
## **Tax reclaims on donations and gifts**
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
22
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **NOTES TO THE ACCOUNTS (Continued)**
## **2.1 Income (continued)**
## **Donated goods**
Donated goods are usually given to the charity’s trading subsidiary, Pepper Events Limited, for use as prizes in raffles and auctions and are not accounted for in these accounts. Toys donated for the children are looked after by the Pepper nurses and handed over on receipt.
## **Donated services and facilities**
Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
## **Support costs**
The charity has incurred expenditure on support costs.
## **Volunteer help**
The value of any voluntary help received is not included in the accounts but is described in the Trustees’ Annual Report.
## **Income from interest, royalties and dividends**
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
## **Income from membership subscriptions**
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
## **2.2 Expenditure and liabilities**
## **Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## **Governance and support costs**
Because of the level of the charity’s income, support costs have not been allocated between governance and other support.
## **Grants with performance conditions**
The charity does not give grants with performance conditions.
## **Redundancy cost**
The charity made no redundancy payments during the reporting period.
## **Deferred income**
No material item of deferred income has been included in the accounts.
## **Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
## **Provisions for liabilities**
A liability is measured on recognition at its historical cost.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
23
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **NOTES TO THE ACCOUNTS (Continued)**
## **2.3 Assets**
## **Tangible fixed assets for use by charity**
These are capitalised if they can be used for more than one year.
They are valued at cost.
The depreciation rates and methods used are disclosed in note 9.2.
## **Intangible fixed assets.**
The charity does not have any intangible fixed assets.
## **Heritage assets**
The charity does not hold any heritage assets.
## **Investments**
The charity does not hold fixed asset investments in quoted shares, traded bonds and similar investments. Its only fixed asset investment is in its wholly owned trading subsidiary, Pepper Events Limited, a company incorporated in the UK with an issued share capital of £1.
## **Stocks and work in progress**
There are no stocks held for sale as part of non-charitable trade.
## **Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
## **Current asset investments**
The charity has investments in cash with a maturity date of less than one year. These are held for investment purposes rather than to meet short-term cash commitments as they fall due.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
24
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2022 NOTES TO THE ACCOUNTS (Continued)**
## **NOTE 3: INCOME**
## **Donations and legacies:**
|**Analysis of income**
**Unrestricted**
**funds**
**£**
Donations and gifts
71,232
Gift Aid
4,279
Legacies
36,675
General grants
provided by
government/ other
charities
10,000
Membership
subscriptions and
sponsorships which
are in substance
donations
7,539
Other - Donation from
Pepper Events Ltd
14,030
**Total**
**143,755**
**Charitable activities**
**Analysis of income**
**Unrestricted**
**funds**
**£**
**Total**
**-**
**Other trading activities**
**Analysis of income**
**Unrestricted**
**funds**
**£**
Fundraising
-
**Total**
**-**
**Income from investments**
**Analysis of income**
**Unrestricted**
**funds**
**£**
Interest income
1,613
**Total**
**1,613**
**TOTAL INCOME**
**145,368**|**Restricted**
**income funds**
**£**
-
-
259,600
-
-
**259,600**
**Restricted**
**income funds**
**£**
**-**
**Restricted**
**income funds**
**£**
-
**-**
**Restricted**
**income funds**
**£**
42
**42**
**259,642**|**Endowment**
**funds**
**£**
-
-
-
-
-
-
**-**
**Endowment**
**funds**
**£**
**-**
**Endowment**
**funds**
**£**
-
**-**
**Endowment**
**funds**
**£**
-
**-**
**-**|**Total funds**
**£**
71,232
4,279
36,675
269,600
7,539
14,030
**403,355**
**Total funds**
**£**
**-**
**Total funds**
**£**
-
**-**
**Total funds**
**£**
1,655
**1,655**
**405,010**|**Prior year**
**£**
79,273
8,595
-
210,960
7,941
8,211|
|---|---|---|---|---|
|||||**314,980**|
|||||**Prior year**
**£**|
|||||**-**|
|||||**Prior year**
**£**
-|
|||||**-**|
|||||**Prior year**
**£**
945|
|||||**945**|
||||||
|||||**315,925**|
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
25
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023 NOTES TO THE ACCOUNTS (CONTINUED)**
## **Other information**
Total income in the prior year was £315,925 of which restricted totalled £192,197.
Within the 2022/23 income items above the following are material:
**----- Start of picture text -----**
Trust Name Amount
**----- End of picture text -----**
|**Trust Name**|**Amount**|**Amount**|
|---|---|---|
||||
|FamilyTrust|£150,000|(£100,000previousyear)|
|The Kenneth & Susan Green Foundation|£20,000|(£20,000previousyear)|
|Fairhive|£10,000||
|The Mill Charitable Trust|£10,000|(£10,000previousyear)|
|National LotteryAwards for All|£10,000||
## **NOTE 4: DONATED GOODS, FACILITIES AND SERVICES**
The charity benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
26
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **NOTE 5: EXPENDITURE**
## **Expenditure on raising funds**
|**Analysis of Expenditure**
**Unrestricted**
**funds**
**£**
Incurred seeking grants
23,424
Advertising, marketing,
direct mail and publicity
12,469
Other fundraising
26,389
**Total expenditure on**
**raising funds**
**62,282**
**xpenditure on charitable activities**
**Analysis of Expenditure**
**Unrestricted**
**funds**
**£**
Grants to Rennie Grove
732
Grant to trading
subsidiary
-
Grants to others
-
Support costs
-
**Total expenditure on**
**charitable activities**
**732**
**Other**
**Analysis of Expenditure**
**Unrestricted**
**funds**
**£**
Staff, office costs etc.
13,906
**Total other expenditure**
**13,906**
**TOTAL EXPENDITURE**
**76,920**|**Restricted**
**income funds**
**£**
-
-
-
**Restricted**
**income funds**
**£**
254,268
-
840
-
**255,108**
**Restricted**
**income funds**
**£**
-
**-**
**254,268**|**Endowment**
**funds**
**£**
-
-
-
**Endowment**
**funds**
**£**
-
-
-
-
**-**
**Endowment**
**funds**
**£**
-
**-**
**-**|**Total**
**funds**
**£**
23,424
12,469
26,389
**62,282**
**Total**
**funds**
255,000
-
840
-
**255,840**
**Total**
**funds**
**£**
13,906
**13,906**
**332,028**|**Prior**
**year**
**£**
18,305
8,860
33,584|
|---|---|---|---|---|
|||||**60,749**|
|||||**Prior**
**year**
**£**
252,106
-
-
-|
|||||**252,106**|
|||||**Prior**
**year**
**£**
18,101|
|||||**18,101**|
||||||
|||||**330,956**|
## **Expenditure on charitable activities**
## **Other**
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
27
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023 NOTES TO THE ACCOUNTS (CONTINUED)**
## **NOTE 6.1: FEES FOR EXAMINATION OF THE ACCOUNTS**
|Independent examiner’s fees|**This year**
**£**
**1,700**|**Last year**
**£**|
|---|---|---|
|||**1,700**|
## **NOTE 7: PAID EMPLOYEES**
|**7.1 Staff Costs**
Salaries and wages
Pension costs (defined contribution pension plan)
**Total staff costs**|**This year**
**£**
47,274
2,982
**50,256**|**Last year**
**£**
50,092
3,062|
|---|---|---|
|||**53,154**|
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
## **7.2 Average head count in the year**
The parts of the charity in which the employees work:
|Fundraising
Charitable Activities
Governance
Other
**Total**|**This year**
**Number**
2
-
-
1
**3**|**Last year**
**Number**
2
-
-
1|
|---|---|---|
|||**3**|
## **NOTE 8: GRANT MAKING**
## **8.1 Analysis of grants paid (included in cost of charitable activities)**
|**Analysis**
Rennie Grove Peace Hospice
Care
Patients and their families
Equipment
**Total**|**Grants to**
**institutions**
**£**
255,000
-
-
**255,000**|**Support**
**payments**
**£**
-
640
200
**840**|**Total**
**£**
255,000
640
200
**255,840**|
|---|---|---|---|
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
28
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **8.2 Grants made to institutions**
The charity has made grants to a particular institution that are material in the context of its grantmaking.
|**Institution**
**Purpose**
Rennie Grove Peace Hospice
Care
Funding the children’s hospice at home service|**Total amount**
**of grants paid**
**£**|
|---|---|
||**255,000**|
## **NOTE 9: TANGIBLE FIXED ASSETS**
|**9.1 Cost or valuation**
**Freehold**
**land &**
**buildings**
**£**
**At the beginning of the year**
_
Additions
_
Revaluations
_
Disposals
_
**At the end of the year**
**-**
**9.2 Depreciation and impairments**
**Freehold**
**land &**
**buildings**
**£**
Basis
SL or RB
Rate
**At beginning of the year**
**-**
Disposals
-
Depreciation
-
Impairment
-
Transfers
-
**At end of the year**
**-**|**Freehold**
**land &**
**buildings**
**£**
_
_
_
_|**Other land**
**&**
**buildings**
**£**
_
_
_
_
**-**
**Other land**
**&**
**buildings**
**£**
SL or RB
**-**
-
-
-
-
**-**|**Other land**
**&**
**buildings**
**£**
_
_
_
_|**Plant,**
**machinery**
**and motor**
**vehicles**
**£**
_
_
_
_
**-**
**Plant,**
**machinery**
**and motor**
**vehicles**
**£**
SL or RB
**-**
-
-
-
-
**-**||**Fixtures,**
**fittings**
**and**
**equipment**
**£**
**1,973**
1,722
_
_
**3,695**
**Fixtures,**
**fittings**
**and**
**equipment**
**£**
SL
33%
**1,026**
-
890
-
-
**1,916**|**Total**
**£**
**1,973**
1,722
_
_|
|---|---|---|---|---|---|---|---|
||**-**||**-**||||**3,695**|
||||||||**Total**
**£**
SL or RB
**1,026**
-
890
-
-|
||||||||**1,916**|
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
29
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **9.3 Net book value movement**
|**Freehold**
**land &**
**buildings**
**£**
Net book value at the
beginning of the year
**-**
Net book value at the end of
the year
**-**
**Cash &**
**cash equi-**
**valents**
**Listed**
**invest-**
**ments**
Carrying (fair)
value at beginning
of period
-
Add: additions to
investments
during period
-
Less: disposals at
carrying value
-
Add/(deduct): net
gain/(loss) on
revaluation
-
**Carrying (fair)**
**value at end of**
**year**
**-**
**10.1 Analysis of investments above**
Cash or cash equivalents
Listed investments
Investment properties
Social investments
Other investments
**Total**
**OTE 10. FIXED ASSETS INVESTMENTS**|**Other land**
**& buildings**
**£**
**-**
**-**
**Invest-**
**ment**
**properties**
-
-
-
-
-
-
-
-
**-**
**-**|**Other land**
**& buildings**
**£**
**-**
**-**
**Invest-**
**ment**
**properties**
-
-
-
-
-
-
-
-
**-**
**-**||**Plant,**
**machin-**
**ery and**
**motor**
**vehicles**
**£**
**-**
**-**
**Social**
**invest-**
**ments**
-
-
-
-|
|---|---|---|---|---|
||||||
||||||
||||||
||-
-
-
-
**-**||
||
|||**-**||**-**|
||||||
## **NOTE 10. FIXED ASSETS INVESTMENTS**
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
30
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **NOTE 11: DEBTORS AND PREPAYMENTS**
## **11.1 Analysis of debtors**
|Trade debtors
Prepayments and accrued income
Pepper Events Limited
Other debtors
**Total**
**12.1 Analysis of current asset investments**
Cash or cash equivalents
Other investments
**Total**
Short term cash investments (less than 3 months maturity date)
Short term deposits
Cash at bank and on hand
**Total**
**14.1 Analysis of creditors**
**Amounts falling due within**
**one year**
**This year**
**Last year**
**£**
**£**
Accruals for grants payable
-
-
Trade creditors
-
-
Accruals and deferred
income
2,486
1,700
Taxation and social
security
1,023
-
Other creditors
3,198
-
**Total**
**6,707**
**1,700**
**NOTE 12: CURRENT ASSET INVESTMENTS**
**NOTE 13: CASH AT BANK AND IN HAND**
**NOTE 14: CREDITORS AND ACCRUALS**|**This year**
**£**
-
664
-
-
**664**
**This year**
**£**
85,000
-||
|---|---|---|
||||
|||
|
||**85,000**||
||||
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
31
##
|||||**Fund**|**balances**|**carried**|**forward**|**£**|8,103|1,195|**9,298**||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||**Gains and**|**losses**|||**£**|-|-|**-**||
|||||**Transfers**||||**£**|-|-|**732**||
|* Type Key:|PE - permanent endowment funds; EE - expendable endowment funds;|R - restricted income funds, including special trusts, of the charity; and|U - unrestricted funds|**Fund names**
**Type**
**Purpose and Restrictions**
**Fund**
**Income**
**Expenditure**|**balances**|**brought**|**forward**|**£**
**£**
**£**|Pepper Nursing Fund
R
Support paediatric nursing team
4,329
248,042
(244,268)|Other funds (balancing figure)
R N/A
435
11,600
(10,840)|**Total Restricted Funds as**
**per balance sheet**
**N/A**
**4,764**
**259,642**
**(255,108)**||
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
32
|||||**Fund**|**balances**|**carried**|**forward**|£|4,329||435||**4,764**||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||**Gains and**|**losses**|||£|-||-||**-**||
|||||**Transfers**||||£|18,825||-||**18,825**||
|* Type Key:|PE - permanent endowment funds; EE - expendable endowment funds;|R - restricted income funds, including special trusts, of the charity; and|U - unrestricted funds|**Fund names**
**Type**
**Purpose and Restrictions**
**Fund**
**Income**
**Expenditure**|**balances**|**brought**|**forward**|£
£
£|Pepper Nursing Fund
R
Support paediatric nursing
25,514
192,197
(232,207)|team|Other funds (balancing
R
N/A
2,630
-
(2,195)|figure)|**Total Restricted Funds as**
**R**
**N/A**
**28,144**
**192,197**
**(234,402)**|**per balance sheet**|
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
33
**The Pepper Foundation (Reg. No.: 02797940) for the year ended 31st March 2023**
**NOTES TO THE ACCOUNTS (CONTINUED)**
## **NOTE 16: TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES**
## **16.1 Trustee remuneration and benefits**
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
## **16.2 Trustees' expenses**
|**Type of expenses reimbursed**
Travel
Subsistence
Other (please specify):
Online meeting charges
Christmas lunch for staff & volunteer
Gift to leaving trustee
**TOTAL**|**This year**
**£**
**Last year**
**£**
-
-
-
-
-
-
158
201
122
580
-
-|
|---|---|
||**280**
**781**|
## **16.3 Transaction(s) with related parties**
There have been no related party transactions in the reporting period.
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
34
## **The Pepper Foundation**
Unit 3, Icknield Way Industrial Park, Icknield Way, Tring, Hertfordshire, HP23 4JX
01442 507324 / 01442 507311 (Fundraising) pepper.org.uk info@pepper.org.uk facebook.com/pepperfoundation @pepper_org_uk the_pepper_foundation linkedin.com/company/the-pepper-foundation-org
The Pepper Foundation (Reg. No. 02797940) Directors and Trustees’ Annual Report for the Year ended 31 March 2023
35