# **The Pikelock Trust (Charity Number 1082865) Report and Accounts for the year ended 5th April 2021** ## **The Pikelock Trust Accounts for the year ended 5th April 2021** ## **Annual Report** The trustees present their report and financial statements for the charity for the year ended 5[th] April 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, 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 to the UK and Republic of Ireland effective 1 January 2015. ## **Objectives and activities for the public benefit** The purpose of the Trust is to apply its income and capital for the benefit of such charitable purposes as the trustees think fit. The trustees confirm that they have referred to the Charity Commissioner’s guidance on public benefit when reviewing the Trust’s aims and objectives, in planning future activities, and setting the grant policy for the year. The trust furthers it’s charitable purposes by making grants to other charities, both in the UK and abroad, which share it’s values, in caring for people and/or places and/or spreading the Gospel of Christ. In exceptional circumstances grants may be given to individuals working on projects or engaging in activities that further the Charity's objectives. ## **Grant making policy** The Trustees usually make grants to charities or church bodies with which the Trustees are familiar. Grants are not usually made as a result of unsolicited requests. We review the grant making policy annually to ensure that it reflects the charities objectives and thereby advances public benefit. ## **Financial review and how our grant making delivered public benefit** A grant of £2,100 was given to Gloucester Circuit of the Methodist Church, which is itself a charity recognised as working for the public benefit. This was a contribution toward the cost of the Youth and Family Worker at Eastington Methodist Church. In 2020 £3,500 was contributed to The Gloucester Circuit to help support the Rev Graham Miles. The trust also received gifts of £9,000 to be passed to Compassion’s Covid-19 Appeal (2020 £nil). ## **Investment policy and performance** The Trust’s funds are currently held in non interest bearing accounts, because the size of the fund, and the amount of interest available to charities is very low and would produce minimal returns. ## ***Risk management** The Trustees have adopted a low risk approach to running the Charity. It has no employees and does not engage in activities which could expose it to financial liabilities. ## **Financial reviewing** The trust had reserves of £29,209 at 5[th] April 2021 (£12,709 2020). ## **Reserves policy** The Charity has minimal overheads and forward liabilities. Any grant commitments into the future will be held in designated or restricted funds as appropriate depending on the conditions applying to the grant. The Trust has a policy to hold £1,000 as a minimum reserve to cover any unforeseen costs that might otherwise risk the solvency of the Charity. ## **Plans for the future** The Charity will continue to provide grants in line with the resources available to it. It is anticipated that additional financial donations will be made by the Trustees from time to time. ## **Structure, governance and management** The Trust is a registered charity, number 1082865, and is constituted under a trust deed dated 30 May 2000. The number of Trustees shall be not less than three nor more than seven. The current trustees are the original trustees, who hold appointment for life. Future Trustees must be appointed for terms of office of three years by deed or resolution of the Trustees. At the AGM the trustees decide the grants for the year. If any trustee feels during the year, that further grants should be made the trustees discuss and agree on the amount and beneficiary of any such grant. ## **Employees, remuneration and expenses** The Trust has no employees, and no trustees have charged expenses for the year (nor 2020). ## **Trustees** ## **Kenneth Burgin Raymond Burgin Rebecca Burgin** ## **Principal office: 11 Hillcrest Road Portishead BS20 8HS** **Bankers HSBC 4 Kings Street Stroud Gloucestershire** ## **Independent Examiner** The Trust’s income was over £25,000, so Mr Richard Taylor ACMA was appointed Independent Examiner. He has given the Trust Accounts a clean report. ## **Trustees’ responsibilities in relation to the accounts** The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the accounts, the trustees are required to . select suitable accounting standards and then apply them consistently . observe the methods and principles in the applicable Charities SORP . make judgements and estimates that are reasonable and prudent . state whether applicable accounting standards have been followed . prepare accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for the maintenance and integrity of the charity and financial information and the preparation of accounts. **Approved by the trustees on and signed on their behalf by: K. N. Burgin** ## **The Pikelock Trust Accounts for the Year Balance Sheet as at 5th April 2021** |Current assets:
Cash at bank
Represented by:
Unrestricted funds
Generalfunds
Designated funds|**2021**
£29,209
20,309
8,900
£29,209|**2020**
£12,709
1,709
11,000
£12,709| |---|---|---| An independent examination was carried out for the year to 5[th] April 2021 (none was required in 2020 because the Trust's income was less than £25,000.) The notes on pages 7 and 8 Form part of these accounts. ## **Approved by the trustees on and signed on their behalf by:** ## **K. N. Burgin** ## **The Pikelock Trust Accounts for the year to 5th April 2021 Receipts and Payments Account** |**Note**
**Receipts**
Donation
**Payments**
Gifts
**3**
Net receipts
less
payments
**Funds at**
**06/04/20**
**1**
**Funds at**
**05/04/21**
**1**|**General**
**Funds**
**Restricted**
**Funds**
**Designated**
**Funds**
18,600
9,000
0
0
9,000
2,100
18,600
0
-2,100
£1,709
£0
£11,000
£20,309
£0
£8,900|**Total**
**Funds**
**2021**
27,600
11,100
16,500
£12,709|**Total**
**Funds**
**2020**
0
3,500
-3,500
£16,209| |---|---|---|---| |||£29,209|£12,709| ## **The Pikelock Trust Accounts for the year to 5th April 2021 Notes to the accounts** ## **1. Accounting policies** ## **a. Basis of preparation and assessment of going concern** The accounts have been prepared under the historical cost convention with items recognised at cost. The accounts have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2015 and the Charities Act 2011. The Trust constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. ## **b. Funds structure** Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. In the year £9,000 was received, to be passed on to Compassion, for their Covid – 19 Appeal. There are currently no such funds. Designated funds are funds set aside by the Trustees for a particular purpose in the future and may be re-designated by the Trustees at their discretion. In the year £2,100 of the Designated Fund was donated to the Gloucester Circuit of the Methodist Church to contribute towards the cost of the Youth and Family Worker at Eastington Methodist Church, leaving £8,900. The Reserve Fund is the amount of funds to be held to cover any unforeseen eventuality which could otherwise threaten the future solvency of the Charity. Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives. ## **d. Income and expenditure recognition** All income/expenditure is recognised once the charity receives/pays that income/expenditure. ## **The Pikelock Trust Accounts for the year to 5th April 2021 Notes to the accounts** ## **2. Related party transactions and trustees’ expenses and remuneration** The trustees all give freely their time and expertise without any form of remuneration or other benefit in case or kind (2020: £nil) No expenses were claimed by or paid to trustees in the year (2020 £nil). ## **3. Analysis of grants** Grants were made to other charities. ||**2021**|**2021**|**2021**|**2021**|**2021**|**2021**|||**2021**|**2020**| |---|---|---|---|---|---|---|---|---|---|---| ||**General**
**Funds**|**Designated**
**Fund**||**Resticted**
**Fund**|||||**Total**|**Total**| |Gloucester Circuit of the
Methodist Church|0||2,100|||0|||2,100|3,500| |Compassion|0||0|||9,000|||9,000|0| ||£0||£2,100||£9,000|||£11,100||£3,500| |||||||||||| Employees, remuneration and expenses The Trust has no employees, and no trustees have charged expense5 for the year (nor 2020). Trustees Kenneth Burgin Raymond Burgin Rebecca Burgin Principal office: 11 Hillcrest Road Portishead BS20 8HS Bankers HSBC 4 Kings Street Stroud Gloucestershire Independent Examiner The Trust's income was over £25,000, so Mr Richard Taylor ACMA was appointed Independent Examiner. He has given the Trust Accounts a clean report. Trustees. responsibilities in relation to the accounts The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the accounts, the trustees are required to select suitable accounting standards and then apply them consistently observe the methods and principles in the applicable Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable accounting standards have been followed prepare accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business. rhe trustees are responsible for the maintenance and integrity of the charity and rinancial information and the preparation of accounts. Approved by the trustees on 28 and signed on their behalf by: K. N. Burgin CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Pikelock Trust On accounts for the year ended 5" April 2021 Charity no (if any) 1082865 Set out on pages 1to8 I report to the trustees on my examination of the accounts of the above charity {"Ihe Trust") for the year ended 0510412021. Responsibilities and basis of report As the charity trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 oflhe 2011 Act and in carrying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 14515)(b) of the Act Independent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention lolher Ihan that disclosed below ") in connection with the examination which gives me cause to believe that in, any material respect," the accounling records were not kept in accordance with section 130 of the Act,. or the accounts did not accord with the accounting records.. or the accounts did nol comply with the applicable requirements onceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair. view which is nol a matter considered as part of an independent examination. I have no GOn￿mS and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Please delete the wo￿$ in the brackets rf they do not apply. Signed: Date: 21 Name: Qi kl. Relevant professional qualification(s) or body (if any): A6rfA. IER October 2018