REGISTERED CHARITY NUMBER: 1087248
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2022
For
The Master Poulter's Pelican Trust
Maurice J. Bushell & Co Limited Chartered Certified Accountants Units 4 & 5 Brightwell Barns Waldringfield Road Brightwell suffollk IP10 0BJ
The Master Poulter's Pelican Trust
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7to 11 |
The Master Poulter's Pelican Trust
Report of the Trustees for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the revised Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' effective from January 2015 as applicable to smaller charities.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1087248
Principal address
c/o The Clerk, Mrs Julie Pearce 20 Waltham Road Woodford Green Essex IG8 8DN
Trustees
The Court of Assistants of the Worshipful Company of Poulters, whose members during the year comprised:
Mrs E Garner Master 2022-23 J T L Cross Master 2021-22 R Beer Master 2020-21 D W Walker R H Haynes M G Harris N R Kemp R L Hughes J P Nokes Retired 24 March 2021 A K Glenny Retired 22 June 2021 B J Coombe Retired 16 December 2021 J D H Briggs P Hill M Goodwin P Kelly T Thurley S Liu Mrs J Gubbins B Browning Joined the Court 30 March 2022
Bankers
The Royal Bank of Scotland P.O. Box 412 62/63 Threadneedle Street London EC2R 8LA
Independent Accountants
Maurice J. Bushell & Co Limited Units 4 & 5 Brightwell Barns Waldringfield Road Brightwell Suffolk IP10 0BJ
Page 1
The Master Poulter's Pelican Trust
Report of the Trustees for the Year Ended 31 March 2022
HISTORY OF THE TRUST
The Master Poulter's Pelican Trust was set up in March 2001 in order to enhance the charitable activities of the Worshipful Company of Poulters.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and is constituted as an unincorporated charity.
Management and governance arrangements
The Clerk is responsible for the administration of the Trust under the direction of the Trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Procedures and policy for grantmaking
The organisation and decision-making of the Master Poulter's Pelican Trust is undertaken by the Court of the Worshipful Company of Poulters sitting as Trustees. Much of the charitable activities of the Poulters’ Company are channelled through the Pelican Trust.
The organisations which benefit from these charitable gifts vary from year to year as the Court sees fit based on a review of applications received and are set out in the Accounts. In addition, the Master’s annual charitable appeal is administered by the Pelican Trust as is the annual fundraising pancake race on Shrove Tuesday in Guildhall Yard, which was established by the Company some years ago as a fundraising event to support the Lord Mayor’s Appeal and the Poulters’ Charities.
The Trustees have considered the requirement that the Charity's activities continue at all times to be for the public benefit and the Charity meets this purpose by promoting the object prescribed in its Trust Deed for the relief of hardship.
OBJECTIVES AND ACTIVITIES Objectives and aims
Objects
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For the relief of poverty, sickness and distress or any other charitable need within the City of London and other London boroughs.
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For such other charitable purposes as the trustees may in their absolute discretion from time to time see fit.
ACHIEVEMENTS AND PERFORMANCE
Sadly the pancake race that would have been held on Shrove Tuesday 2021 was cancelled due to the restrictions imposed by the COVID-19 pandemic and the 2022 race was could not be held due to inclement weather. However we were able to hold a buffet lunch in the Guildhall Crypt and judged the imaginative costumes. The event raised £4,405 which was split equally between the Lord Mayor’s Charity and the Pelican Trust.
During the year, the Pelican Trust continued to make donations to selected charities, based on the recommendations of Past Masters Briggs and Gilbart-Smith who review applications for support on a regular basis. Each year the Master chooses a charitable cause to support and Master Cross raised £5,003 (including Gift Aid) in support of Diabetes UK and Music for All. Master Beer’s appeal raised a total of £4,456 (of which £3,406 including Gift Aid was received in the previous year) in support of the Royal Anglian Benevolent Fund and Royal Regiment of Fusiliers Charitable Fund.
Page 2
The Master Poulter's Pelican Trust
Report of the Trustees for the Year Ended 31 March 2022
PLANS FOR THE FUTURE
Master Garner’s charitable appeal is in aid of Barts Heritage & Hospital. The annual Pancake Race will be held on Shrove Tuesday 2023, the proceeds of which will again be divided equally between the Lord Mayor’s Appeal and the Poulters’ charities. The trustees will continue to make grants to selected charities from the Master and Wardens’ Account based on the review of applications received.
On 18 May 2022 the trustees were notified of a very significant bequest of £200,000 from the estate of the late David Bridges, Past Master. This will be treated as an expendable endowment and the income distributed in accordance with the charity's objectives.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
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), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
THIS REPORT WAS APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF BY :
............................................. E A M Garner - Master
Date: 5 January 2023
Page 3
Independent Examiner's Report to the Trustees of The Master Poulter's Pelican Trust
I report to the trustees on my examination of the accounts of the Master Poulter's Pelican Trust (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning 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 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 accounts to be reached.
Stephen Farra (FCCA) For and on behalf of Maurice J Bushell & Co. Limited
Maurice J. Bushell & Co Limited
Chartered Certified Accountants Units 4 & 5 Brightwell Barns Waldringfield Road Brightwell Suffolk IP10 0BJ
Date: .............................................
Page 4
The Master Poulter's Pelican Trust
Statement of Financial Activities
for the Year Ended 31 March 2022
| 2022 2022 Unrestricted Funds Restricted Funds £ £ Notes INCOME from: Raising funds Fundraising event – pancake race Donations and legacies 2 - 6,250 15,045 6,012 Total income 6,250 21,057 EXPENDITURE on: Raising funds Pancake race costs Charitable activities - 10,543 Grants 3 5,875 4,456 Support/governance costs 4 645 - Total expenditure 6,520 14,999 NET INCOME(EXPENDITURE) (270) 6,058 Transfers between funds 8 2,161 (2,161) RECONCILIATION OF FUNDS Total funds brought forward 1,140 3,309 TOTAL FUNDS CARRIED FORWARD 3,031 7,206 |
2022 Total Funds £ 15,045 12,262 27,307 10,543 10,331 45 20,929 6,388 - 4,449 10,837 |
2021 Total Funds £ 168 8,406 8,584 265 12,040 38 12,343 (3,769) - 8,218 4,449 |
|---|---|---|
The notes form part of these financial statements
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The Master Poulter's Pelican Trust
| CURRENT ASSETS Debtors Cash at bank CREDITORS Amounts falling due within one year NET CURRENT ASSETS NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS |
Balance Sheet At 31 March 2022 Notes 6 7 8 |
2022 £ 764 10,073 10,837 600 10,237 10,237 3,031 7,206 10,237 |
2021 £ 304 4,291 4,595 (146) 4,449 4,449 1,140 3,309 4,449 |
|---|---|---|---|
The financial statements were approved and authorised for issue by the Board of Trustees on 5 January 2023 and were signed on its behalf by:
............................................. E A M Garner - Trustee
............................................. J T L Cross -Trustee
The notes form part of these financial statements
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The Master Poulter's Pelican Trust
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 the Financial Reporting Standard applicable to the UK and Republic of Ireland, the Charities Act 2011 and the requirements of the Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2015), as applicable to smaller charities. The financial statements are presented in sterling which is the functional currency of the charity. Monetary amounts are rounded to the nearest pound.
The accounts have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity is a public benefit entity as defined by FRS 102.
Going concern
The financial statements have been prepared on a going concern basis. Having carried out a review of the Charity's resources the Trustees are satisfied that the Charity has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements.
Income
All income is included on the Statement of Financial Activities when the charity is legally entitled to the income, it is probable that the amount will be received and can be quantified with reasonable accuracy. Gift aid reclaimable on donations to the charity is included with the amount received.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Irrecoverable VAT is charged to the SOFA as incurred.
Expenditure on grants is recorded once the Trust has made an unconditional commitment to pay the grant and this is communicated to the beneficiary or the grant has been paid, whichever is the earlier. The Trust has not made any grant commitments of more than one year. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Funds received in respect of the Master’s Appeal are treated as restricted funds and accounted for accordingly. Amounts received but not paid over or committed at the year end are carried forward as restricted funds. The annual donation from the Worshipful Company of Poulters is unrestricted and is credited to the Master and Warden’s Account for the general purposes of the Trust.
Financial instruments
The charity only holds basic financial instruments as defined by FRS 102. Financial instruments receivable or payable within one year of the reporting date are carried at their at transaction price and subsequently at amortised cost.
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The Master Poulter's Pelican Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
2. DONATIONS
| 2. DONATIONS |
||
|---|---|---|
| 2022 £ Donations: - The Worshipful Company of Poulters (unrestricted) - Other donations (unrestricted - including Gift Aid £50) - Master Cross’s Appeal (restricted) - Master Beer’s Appeal (restricted) Gift Aid recoverable (on restricted donations) 5,000 1,250 4,289 1,009 714 12,262 3. GRANTS PAYABLE 2022 £ The total grants paid or payable to institutions during the year were as follows: Master Beer’s Appeal (restricted): Royal Anglian Regiment Benevolent Fund and Royal Fusiliers Fund Master Walker’s Appeal (restricted): Macmillan Cancer Care and Marie Curie Nurses 4,456 - 4,456 City: Lord Mayor's Charity (2021: £2,084 restricted from 2020 Pancake Race) 1,000 Sheriffs and Recorders fund St Peter-upon-Cornhill Trust United Guilds Service 250 500 175 1,925 |
2021 £ 5,000 - - 3,102 304 8,406 |
|
| 2021 £ - 4,231 4,231 2,209 250 500 - 2,959 |
||
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The Master Poulter's Pelican Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
3. GRANTS PAYABLE (continued)
| Other: Royal Anglian Regiment Adventure Training Fund Ambitious about autism Food Lifeline Grove Adventure Playground Blooming Blossoms Trust Helping Disabilities Trust Kids ‘n’ Action Refreshing Minds Royal British Legion St Paul’s Cathedral Foundation Mitchells Miracles The Community Hub Activiteens The Manna Society Highlights Youth on the move The Spitz Willow Foundation Open Age Maytree Respite Centre Safe families for children Pembroke House Up ‘n’ Away The Red Cross RAR Easter Eggs Total grants |
2022 £ 1,000 500 250 250 250 250 250 250 200 250 - - - - - - - - - - - - - - 500 3,950 10,331 |
2021 £ 1,000 - - - - - - - - - 250 250 250 250 250 250 250 250 250 250 250 250 250 100 500 |
|---|---|---|
| 4,850 | ||
| 12,040 |
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The Master Poulter's Pelican Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
4. GOVERNANCE COSTS
| Bank charges Independent Examiner's fee |
2022 £ 45 600 645 |
2021 £ 38 - 38 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND EXPENSES
The trustees are considered to be the key management of the charity. No trustees' remuneration or expenses were paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Amount owed by Worshipful Company of Poulters Income Tax Recoverable 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses Amount owed to Worshipful Company of Poulters 8. MOVEMENT IN FUNDS |
2022 £ - 764 304 2022 £ 600 - 600 |
2021 £ - 304 304 2021 £ 6 140 146 |
|---|---|---|
| 2022 At 1.4.21 £ Unrestricted funds Master and Wardens’ Account Restricted funds Master Beer’s appeal Master Cross’s appeal Pancake Race 1,140 3,406 - (97) TOTAL FUNDS 4,449 |
Income Expenditure Transfers At 31.3.22 £ £ £ £ 6,250 1,009 5,003 15,045 5,920 4,456 - 10,543 2,161 41 - (2,202) 3,631 - 5,003 2,203 27,307 15,762 - 10,837 |
|---|---|
Page 10
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
8. MOVEMENT IN FUNDS (contd.)
The net surplus on the Pancake Race in 2022 was split equally between the Lord Mayor’s Appeal and the Poulters’ Charities. Payments will be made in 2022-23.
A transfer of £41 was made to Master Beer’s appeal in respect of a late donation to that appeal.
| 2021 At 1.4.20 £ Unrestricted funds Master and Wardens’ Account Restricted funds Master Walker’s appeal Master Beer’s appeal Pancake Race 1,943 4,191 - 2,084 TOTAL FUNDS 8,218 |
Income Expenditure Transfers At 31.3.21 £ £ £ £ 5,000 - 3,406 168 5,763 4,231 - 2,349 (40) 40 - - 1,140 - 3,406 (97) 8,574 12,343 - 4,449 |
Income Expenditure Transfers At 31.3.21 £ £ £ £ 5,000 - 3,406 168 5,763 4,231 - 2,349 (40) 40 - - 1,140 - 3,406 (97) 8,574 12,343 - 4,449 |
|---|---|---|
| 4,449 |
There was no Pancake Race in 2021 due to the restrictions arising from the COVID-19 pandemic, however a supply of commemorative mugs were produced. At the balance sheet date the sale of mugs had not covered the cost which has led to the small deficit.
A transfer of £40 was made to Master Walker’s appeal in respect of a late donation to that appeal.
9. Post Balance Sheet Event
On 18 May 2022 the trustees were notified of a very significant bequest of £200,000 from the estate of the late David Bridges, Past Master. This will be treated as an expendable endowment and the income distributed in accordance with the charity's objectives.
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