Len Pick Trust
Grants for the Benefit of Bourne
Report of the Trustees
11
Report to 31st March 2024
Prepared by the Trustees of the Len Pick Trust
Registered Charity No. 1106598

Len Pick and his Legacy
Thomas Leonard Pick was a very welkknown and much
respected Boume famier and local businessperson - better
ih'i; known to all as simply, 'Len.
Educated at Boume Grammar School, he left at the early age
of fourteen to join the family firm of coal merchants. His
shrewd business acumen rapidly developed, takin(3 full charge
of the manaqement restx)nsibilities within two short years.
Subsequently he also came to spearhead the successful
family wholesale potato merchant's business. Eventually Len
also took over the reins of the family farm which he rapidly
expanded to become a major local landowner before retiring in
the early 1970's.
Having married his childhood sweetheart, Freda, in 1935 they
enjoyed fifty-six blissful years toqether until her passino in
1991 . Len was extremely passionate about his hometown and
all its workings. Elected to the then Bourne Urban District
Council in 1936, he became its youn(Jest ever Councilor at the
aqe of just twenty-seven. He remained a member until 1948"
only relinquishino his position due to the many demands and
pressures imposed upon his time by his extensive business
I I commitments.
It is well documented that Len was an avid, lifelono supporter of Bourne Town Football Club, both
financially and vocally. He was equally enthusiastic about the Bourne Piqeon Club. Much less well
known - and totally in keepinq with his character- was his continual and very discreet support of
many other town organisations and charitable causes. most notably being the Outdoor Swimming
Pool.
Again, in keeping with his character, some years before his death and after Freda's passing, six of
his friends and advisers were instructed by him, "Be at my solicitor's office at 9 O'clock Monday
morning and don't be late" There, they were told (not invitedl} that they were to be trustees of a
charity that he was forminq, and which would become operational only after his death for the
general benefit of the townspeople of Boume. The six were accordingly sworn to absolute secrecy
in order that no knowledge of his intended philanthropy percolated into the public domain until
after his passing.
Some seven years later Len passed away on the 29th of January 2004 aged ninety-four, and
accordinqly those same six orioinal trustees set about the task of implementino his instructions
with an endowment of overfour million pounds. The present trustees are proud to continue to
implement those same instructions thus ensurinq that the town which was his home will continue
to benefit from his philanthropy and benefaction in perpetuity.
Annual Report to the 31" March 2024
Page 2133

Grants for the Benefit of Bourne 

Registered Charity No.1106598 5 Granby Court Hereward Street, Bourne, Lincolnshire PE10 9AD 

Web: www.lenpicktrust.org.uk Email: enquiries@lenpicktrust.org.uk 

## Annual Report and Financial Statements 

## Year ended 31%t March 2024 

## Table of Contents 

## Cover Photos 

Top Left: The refurbished Club House at Bourne Rugby Club Top Right: Owl chicks born in the Len Pick Owl Tower 

Bottom Left: Bourne Outdoor Pool’s refurbished café 

Bottom Right: New play equipment at Bourne Elsea Park Primary Academy 

The Trustees present their Report together with the Audited Financial Statements for the Year ended 31%' March 2024. 

q y 4 

Annual Report to the 31S March 2024 Page 3/33 



Legal and Administrative Information (Who we are, what we do and how we do it) 

Trustees who served during 2023/24 

Chairman 2022-2024 Mr A Warner Vice-Chair 2022-2024 Mr D Bailey 

|Name|Start Date|Termination|Term|
|---|---|---|---|
|Mr D J Bower|From 28.09.15|March 2025||
||From 01.04.18|March 2028||
|Mr D Baile|From 01.04.19|March 2024||
|Mrs Z Ayliff*|From 01.04.20|January<br>2024||
|Mrs R Whitaker|From 01.04.20|March 2024||
|Mr R McKinne|From 01.04.21|March 2025||
||From 01.04.22|March 2026||
|Mr M Bostock|From 01.04.22|March 2026||
||From 01.09.22|Sept 2026||



“Mrs Z Ayliff resigned from her role as trustee in January 2024. 

Mr S Free joined as a trustee in April 2024. 

Elected Trustees elected after 01.04.20 serve initially for a four-year term which may be extended for a further four years by election. 

Mrs R Whitaker and Mr D Bailey were re-elected to serve a second term from April 2024. 

Brief profiles of our Trustees 

Mr David Bower, a chartered accountant Mr Andy Warner, a resident of Bourne and a Baptist Minister in Peterborough Mr David Bailey, a guitar teacher and retired company director Mrs Rebecca Whitaker, a legal executive Mrs Zoe Ayliff, a local business manager, resigned winter 2024 Mr Roy McKinney, A retired business adviser Mr Mark Jones, a retired bank official Mr Matt Bostock, an operations manager for a local communications company Mrs Sue Green, a retired local National Farmers Union Secretary 

q 's 

Annual Report to the 31st March 2024 Page 4/33 



Advisers to the Trustees
Management and administration responsibilities for The Trust are delegated to the Trust Manager:
Adrian Smith, a retired land aqent & surveyor and long-term adviser to Mr Pick, acted as Trust
Manaoer, retirino from the Trust in September 2023. His role was taken on by trustee, David Bower
on a voluntary basis.
Assisted bj."
Solicitors:
Bankers:
Hegarty LLP
48 Broadway
Peterborouoh
PE11YW
HSBC
8 Market Place
Spaldino
PE111SN
Investment Fund Managers:
Double & Meqson
4 West Street
Bourne
PE10 9NE
Integrated Financial Arranqements PIC
Domain House
5-7 Sinoer Street
London
EC2A 4BQ
Auditors:
Investment Advisers:
Whitinos LLP
108 Hioh Street
Ramsey
Cambs
PE26 1 BS
Whitinqs Wealth Manaoement
12-13 The Crescent
Wisbech
Cambs
Structure, Governance & Management
The Charity operates under the terms of the Trust Deed reoistered with the Charity Commission on
the 4th November 2004, as amended on the W August 2005 and 4" September 2020. The Charity is
administered by a board of Trustee¢ The Trust Deed oives the Trustees the power to adopt
amendments thereto subject to Charity Commission Approval.
Objects of the Trust
(What we do)
'For the oeneral benefit of the inhabitants of Bourne Lincolnshire to further such charitable
purposes as the Trustees in their absolute discretion shall think fit and in particular, the Trustees
shall make grants to local charitable organisations"
Annual Report to the 31" March 2024
Page 5133

Mission Statement
(Our aims)
To fulfil the aims of our benefactor for the general benefit of the townspeople of Boume.
To provide full accountability and transparency for our actions in the management of the
Trust.
To be pro-active in fulfilling our role as Trustees for the better management and expansion
of the Trust.
Main Activity
(What we do)
We make grants to charitable. voluntary and other organisations within the area of benefit.
Althouqh the Trust does not make orants directly to individuals, small hardship orants are made in
conjunction with partnership aqencies. The Trust seeks at all times to maximise the impact of its
endowment by assisting & paitnering other voluntary organisations within the area of benefit.
Grant Making Policies and Procedures
(How we do it)
The Trust makes qrants for oeneral Charitable Purposes in accordance with the objeclives of the
Trust. Applications for qrants are made via a form. accompanied by supporting information
proportionate to the amount of grant and size of organisation.
Related Organisations
(Some of ourpartners and associates)
The Trust is a member of the Association of Charitable Foundations, an umbrella organisation for
qrant makinq charities. Partnership aqreements are in place with a number of orqanisations,
including. Citizens Advice, South Kesteven District Council, Christians Aoainst Poverty and the
Bourne Corps of the Salvation Amiy in respect of the administration of the Small Hardship Grants
programme.
Recruitment & Induction of Trustees
(How we find and train our members)
Trustees serve for a limited time commensurate with Charity Commission recommendations. The
recruitment objective being to maintain a Trustee Board with a diversified membership having a
wide ranoe of skills and experience to enable and expand the work of the charity. Vacancies are
advertised in the local press and our own website. New trustees are offered an induction
programme to introduce and explain their role and the breadth of the charity's remit.
In addition to monthly Trust meetinqs we operate a number of sub committees and have an annual
'Strateoy Day,. This event enables us to review the past year and map our strateqy for the following
year. The event also updates members on relevant legislation and best practice.
All members give of their time free￿. In addition to the runninq of the Trust, the Trustees meet at
Len Pick's graveside annually in Boume Cemetery on the 29 of January when a short act of
remembrance is held. Subsequently and in accordance with his expressed wishes, the Trustees
and their partners are invited to attend an annual dinner where a toast is given in honour of his
memory.
Annual Report to the 31" March 2024
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Risk Management
(A voiding pitfalls)
Usinq Charity Commission quidelines, the Trustees have established the major risks that the
Charity is exposed to. Policies are reviewed and updated to manaoe such risks. The risks relatinq
to our investment portfolios, have been ameliorated by a policy of diversification and monitoring of
performance in conjunction with our investment advisers.
To minimise risk associated with our grant making programme. an evaluation procedure is in place
to ensure that a grant recipient complies with the terms and conditions attached to the award of a
qrant. There are policies for the review of applicant's management accounts generally
accompanied by a visit and report to fellow trUSt￿s.
The Trust maintains a full suite of policies in respect of matters such as, Conflicts of Interests,
Safeguarding, Children & Vulnerable Adults, Health & Safety, Anti-Bribery & Corruption, Data
Protection, Equality etc. The risk management process is regularly reviewed by the Trustees with
appropriate recommendations made.
Investment Policy
(Making our assets work)
Althouqh the Trustees have the power contained within the oriqinal trust deed to expend all or part
of the original endowment of the trust. it was considered at an early stagethat the endowment
resultino from the residue of Mr Pick's estate should be reoarded as a pemanent endowment and
the investment policy therefore considers the requirement not only to produce income for present
beneficiaries, but also to protect the capital in real temis over the economic cycle for the benefit of
future beneficiaries.
To further the policy of diversification and risk minimisation, the investment fund of the trust was
divided equally between two separate actively managed portfolios. Following a quinquennial review
assessment of relative performances and costs it was subsequently decided that one portfolio
would be transferred to a passively manaoed fund. Followino a further quinquennial review of
relative perfomiances and costs the second portfolio was also moved to a separate passive fund
with Vanguard.
Additionally, the Trust also owns some 57 acres of farmland to the west and east of Bourne which
is let to tenants on agricultural tenancie
Reserves Policy
(Strategic planning for a rainy day)
In 2019 the Trustees reviewed their Reserves Policy and accordinoly simplified and reor(3anised
their reserves into two reserves namely a Capital reseThe, to be held at the value of the underlying
investment assets used to generate revenue for the continued operation of the Trust, and a
Current reserve, showing an accumulated overlunderspend of the funds generated by the Trust's
Capital reserve.
It was also recognised by the Trustees that although amounts should not be ordinarily drawn from
the Capital Reserve to supplement any deficiencies of the Current ReSe￿e balance, the Trust
Deed does not restrict transfer from the Capital Reserve should it be so required.
Annual Report to the 31" March 2024
Page 7133

Conflicts of Interest
(How we avoid them)
Conflicts of Interest are an obvious risk for the Trust as all trustees are local to the area of benefit.
To mitiqate this a policy is in place that requires each Trustee to oive notice at the beoinninq of any
meetino of any potential conflict. Such notice is recorded in the minutes of the meetin(3 and the
Trust￿ having given notice. takes no further part in the relevant discussion. save at the invitation
of the Chairman when a Trustee who has special knowledoe of a matter which is beneficial to the
proper management of the Trust may speak. At no time does such a Trustee participate in voting
on any such matter.
Trustee Training
(How we keep up to date)
Upon induction. all members receive a briefing on their future role and current Trust policies.
Onqoinq trainino is undertaken in many ways includino attendance, at seminars, online training
courses and circulation of relevant papers eq Charity Commission publications and updates.
Additionally, the annual Strategy Day is used as a focus for ongoing trustee development and
training.
Find out more about the Trust at
www.lenpicktrust.org.uk
Annual Report to the 31" March 2024
Page 8133

Chairman's Report
The trust has seen some significant changes in the last year, the
most siqnificant beino that our lono servinq Trust Manager,
Adrian Smith, retired in October 2023 due to ill health.
Very sadly, as we were compilin.q this report, Adrian passed
away. He will be .qreatly missed. Whilst this report references the
period April 2023- March 2024, 1 have included his obituary-
S￿ next page.
On a personal level. as well as his role in the Trust. I will miss his
sense of humour and use of the English language.
The role of Trust Manaqer was taken on by our trustee, David
Bower. I would like to thank David for volunteering for this role
and for his professionalism in carrying it out.
The Len Pick Trust Facebook paoe provides updates on the work of the Trust and is now firmly
established. We have also now completed the new website. which provides more information
about the work of the Trusl, as well as access to the annual reports and the qrant application
forms. Thanks go to our trustee, Matt Bostock for his hard work in this area.
One of the most popular parts of the website is our owl camera and bloo, which in the last year
had some 14,000 hits from all over the world. This Spring saw another two barn owls successfully
reared.
The strapline of the Len Pick Trust is 'Grants for the Benefit of Boume, we believe that all of the
qrants we have made will benefitthe people of Boume. Each year we give grants to new and
established groups in the area.
Some of the hiqhli(3hts over this past year, include helpin(3 the Boume Ruoby Club kick start their
refurbishment project. providing an outside play area for Elsea Park Church of England Academy
and helpino a new group, Bourne2Shine set up a club for parents and siblings of children with
special needs.
Amonqst many other proiects. we have also been pleased to be involved with Bourne United
Charities and Bourne Town Council in enabling Citizens, Advice to continue to offer a service in
Wake House for two days a week.
Thank you for readinq this report, we really hope you find it informative, and if you are part of an
oroanisation in need of a 'qrant for the benefit of Boume, then please read the terms on our
website and make contact with us
David Bailey
Chair of the Trustees
Annual Report to the 31" March 2024
Page 9133

Adrian Smith
The Len Pick Trust was d￿pIY saddened to leam that Adrian Smith. our former Trust Manager,
passed away on Wednesday, 1 W September 2024.
Adrian was a Founding Trust&, and then went on to serve as Trust Manager until his retirement
last October. He was well respected within the community, and we know that many people will
have benefitted from Adrian's boundless enthusiasm and dedication to town life.
The Len Pick Trust has supported hundreds of community projects and organisations since its
inception in 2006, and oreat credit must be qiven to Adrian for his stewardship and guidance of the
Trust which has enabled it to support the community in this way.
Trustees join the local community in sending our deepest condolences to Adrian's family.
Annual Report to the 31" March 2024
Page 10133

Achievements & Performance
(Our grant making activities- summarised)
Category
Relief of
ove
Schools and medical welfare
Welfare of the elderl
Grants Paid in 2023124
rin¢. previously alloc*ed amountsl
£14,275.00
£11770.00
£4 444.00
£36 750.00
£2 000.00
£25,800.00
Music and the arts
Education
Communi
Youth
Memorial
Total
£3 170.00
£2 675.00
£97,894.00
Our Grant Making & Charitable Activities during the year - in detail
This report covers both grants paid in the year (some of which were commitments from the
previous year), as well as commitments made during the year.
Relief of Poverty
a) Schools Grant Scheme
We continue to provide orants to the local schools to support those who may be disadvanta(Jed,
for example in attendance of school trips, provision of uniform or equipment needs. The orant to
the individual is at the full discretion of the relevant Head Te￿her and another staff member.
b) Small Hardship Grants Scheme
Althouoh the Trust does not qive orants to individuals, we are aware of cases of severe need within
our area of benefit. where assistance is not available from statutory sources. The Trust's
maximum grant durinq the year was £5(K).00 (Five hundred pounds)" this amount is
discretionary and not automatic. We do not make out cheques to individuals. Applications are
submitted by approved partnership aqencies with appropriate recommendations and then
evaluated by the trust manaoer. Payment is either made to the recommendino aoency or
directly to a nominated supplier as appropriate. Dunno the financial year we made a total of 22
grants totalling £4.444. In addition a commitment was also made to CAP in support of their work
on helping people get out of insurmountable debt problems.
Social & Medical Welfare
A new art pop up group for over 55s has started in Wake House which were pleased to support.
We also supported two qroups who are not based in our area, but who support people who live in
our area, by providino palliative care.
The Sue Ryder charity and The Butterfly Hospice. fortheir butterfly release in The Jubil￿ Gardens.
Expenditure under this category for the year amounted to £11,700.00,
Annual Report to the 31" March 2024
Page 11133

Sport
Len Pick was very keen on the support of local sports, so it is good to support some old and new
local sports groups.
Bourne Outdoor pool this year suffered severe weather damaqe to their offices and shop. Both had
been in need of an upqrade and we were particularly pleased that our grant enabled a complete
rebuild in time for the opening of the 2024 season.
Bourne Ruqby Club have b￿n expandinq and needed to undertake a maior upqrade of their
clubhouse, this year, alonq with other sponsors. we were able to provide the balance of the qrant
which has enabled them to provide first class facilities for their minis, juniors and senior teams.
Bourne Wheelers were oiven a qrant to enable them to purchase siqnaoe for their local cycle races
and we also provided a grant to enable The East Midlands Tomadoes to compete in their first ever
national Netball event.
We have also made a commitment to support Boume tennis club in the refurbishment of their
clubhouse, which will hopefully happen in 2024.
Music & The Arts
Wake House is a very important asset to many groups who support the people of Boume. so we
were pleased to provide a orant for the provision of a modern CCTV system to support the safety
of the Management as well as the many groups that operate from Wake House.
Education
Bourne Grammar School ran a careers and higher education fair which we were pleased to
support.
We also provided a grant of £5.000 to enable the organising of the 2024 Sci Fest to take place.
This is a bi-annual week-lonq science festival in local schools which culminates in a series of well
supported presentations at Bourne Com Exchange.
Our larqest orant in this area was made to Elsea Park Church of Enoland Primary Academy for a
new outside play area. This is used as both a teaching and a play area throughout the year.
Community
We have ajain been involved with Boume Unitaj Charities and Bourne Town Council in enabling
Citizens, Advice to continue to offer a service in Wake House for two days a week.
Welfare of the elderly
Many elderly people find themselves living alone. Whilst they may be able to cope, as they lose
friends and partners they can often become lonely. This year we were able to support two groups
working in this area.
Aqe UK are runninq a new qroup out of Wake House and The Evergreen Care Trust have set up a
new qroup of befrienders workinq in the Bourne area.
Over £4,000 has been granted on these projects.
Annual Report to the 31" March 2024
Page 12133

Youth/Young People
Three groups were given grants this year, at a total of £3,170.
Followinq the success of our previous orant it was qood to continue our support of the excellent
work done by the High Heritage church with a wide range of ages at The OnE-Hub in Bourne.
Bourne and District Gid Guides were qiven a grant for wet weather dining shelters for use at
camps. l am sure that they have s&n much use this year!
We were pleased to also support a new qroup. Boume2Shine who provide support for parents and
siblings of children with Special needs. They are able to provide experience and advice as well as
introducing them to others with shared experiences.
Environmental
The owl tower continues to provide interest for a larqe number of online viewers as well as
obviously providino a breedino solution for barn owls. Further upqrades were made to the camera
and internet connection this year, although we are likely to need more investment in the future to
provide a completely fault-free service.
What we have achieved during the year
The total amount of funds spenvallocated on direct charitable purposes during the year amounted
to £97,984, across over 20 different orqanisations. No qrant applications were deferred. Of course,
some of the trustee's work must remain unsung for reasons of confidentiality.
Annual Report to the 31" March 2024
Page 13133

Financial review of the year
(How our assets have performed during the year)
As a grant making charity, maintaining the value of our endowment in real terms over the economic
cycle is of particular importance. The value of the investment portfolio at 31" March 2024 was
£8,382,494, an increase of £848,261 from the value at 31" March 2023 of £7,534,233 due to
recovering investment markets from uncertainty in the period to 31" March 2023.
Gross expenditure durino the year amounted to £148,461 {£194,611 in 2022/2023), of which
£98,7161£132,330 in 2022/2023) was direct charitable expenditure.
The balance of £49,7451£62,281 in 202212023) was on management & govemance costs.
Total expenditure for the year equates to 1.62% of Total assets. or 1.74Yo of the investment fund
at year end.
Meeting our objectives
(Have we. or haven't we?)
The objectives of thefoundation TrUSt￿S wereto implement the wishes and vision that Len Pick
set out in 1997 when he decided to leave the balance of his estate, to a charitable trust for the
benefit of the townspeople of Boume. With assets of over £8 million and havinq issued orants
totalling significantly over £1,￿o,000.00 made to a wide range of local causes since inception, we
consider that not only are we translating his vision into actions. but by the stewardship of his
oriqinal bequest, we have been able to expand his vision into a vehicle that provides significant
benefits, not only for our current stakeholder¢, but also for future generations.
Future Plans
(What we intend to do in the fvture)
We will continue to seek opportunities of providing grants for the benefit of Boume to groups who
are well managed and can make a difference.
Our investment policy in the past year has demonstrated that our policy of wide diversification
continues to remain the most appropriate policy for the Trust in current market circumstances.
The over-arching duty of the trustees remains to continue to manage the Trust for the benefit of
our stakeholders, "The townspeople of Bourne," as our founder decreed. We do not intend to let
him down.
Serious Incidents
(A statutory reporting requirement)
The Trustees are required by law to report serious incidents to the Charity Commission. In 2023124
there were no such incidents to report.
Annual Report to the 31" March 2024
Page 14133

the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ in other jurisdictions. Approved by the Trustees and signed on their behalf by: .5 9 Date: E % 



Independent Auditor's Report
THE LEN HCK TRUST
INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF THE LEN PICK TrUST
FOR THE YEAR ENDED 31 MARCH 2024
OPINION
We have audited the financial statement5 01 The Len Flck Tnjst Ithe 'ChariVI for the year ended 31
March 2(r24 which comprise the Statement of Financial Actiwties. the Balance Sheet. and note5 to the
lirK]ncial 51atements. i￿ludIng sigr¥kant acc￿￿￿"ng p(Aicies.
The financial ieporting framework thal ha5 b￿n applied in the¥ preparation 15 applicable law and
United Kingdom Accounting StandaTds, induding Financial Reporting StaTKJard 102 The Financial
Reporting Standard applicoble in the UK and Rewblic of Ireland, (Uniled KiryJdom Genetolly
Accepted Accourlting Practice).
In our opinion the finonool stotements..
give o Irve ond fair wew ol the stote of the Choritvs offoirs 0$ 0131 Morch 2tr24 and of its
incomirYJ resolxces and ap￿iCatiOn of resources. i￿luding ils income and expenditLKe, for
the year then ended-
have been pr(perfy prepared in acci￿{￿]nCe wtlh UnwFed Kingdom Generally Accepted
Accounting Practice.. and
have been properfy prepared in acci￿{￿]nCe wtlh the requirements ot the Charities Act i.
8ASIS FOR OPINION
We conducled our a￿lIt in aCCordar￿e wth Intemational Standards on Auditing IUKI IISAS IUKII and
applicable Icw. Ou responsibilitie5 ufKfet Ih05e standards ole further described in the Auditor5,
re5ponsibililie5 lor the audit ol Ihe finar￿1￿1 stolemenls section ol our rep<xl. We are independenl of
the Chorily in occordonce with the elhicol reqviremenls Ihol ore re￿VOn1 lo oudil ol the linoncial
slotements in the Uryled Kingdom. i￿luding the Finonciol Rep￿11rvj Council's Ethical Slandord, ond
we have fulfilled our other ethtcol respC￿$1￿￿litles in occordonce wth these requirements. We believe
that the audit evidence we have obtained is sufficienl and apFxopriate to provide a basis l(x our
opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the tinanctal 51atements. we have conduded ttK]t the Trustee5' use ot the going CO￿er[l
basi5 of accountiru in the PTeparation ol the financial statements is appropriate.
Based on the work we have FHformed. we have not identh.fied arby material uncertainties relating lo
events or condition5 thal, indimdualty ￿ cdlectivety. T￿Y ca51 sgnificant doubt on the Charity's obility
to continue as a going c(￿Cern.
Our responsibilities ond the responsibilities of TrLOtees with respect to goirwJ concem ore described
in the relevonl sections of this repc*t.
Annual Report to the 31" March 2024
Page 16133

THE LEN PICK TRUST
INDEPENDEKf AUDrroRS' REPORTTO THE TRusfEES OF THE LEN PICK TRUST
FOR THE YEAR ENDED 31 MARCH 2024
OTHER INFORMATION
The Truslees are iespon5ible lor the other infortrK]tion. the other information comprises the information
included in the Trustees, Annual rep(xt, olher than the firKJncial statements and our Auditors. report
thereon. Our opinion on the financial slolemenls does not cover the other inlcxmation and we do not
e)press any form of assvrance conclv5ion thereon.
Our responsibility is to read IIE olher in1￿MotiOn and. in doing so. consider whether the other
information is malerially inconsislent with the ￿lKjnCIal slatements (x our knovAedge obtained in the
course of the avdil (x olherwi5e appeaF5 to be TfK]terialty misslaled. If we identify such material
inconsistencies or apparent material mi55tatements. we are reqvired to determine whether there is a
malerial misstatement in the financial statements Ihemselves. If. based on the w(xk we have
perf(xmed. we conclvde ItrKJt there is a material misStalenEnt of this Other informolion. we are
reqvired to report IFKJt fact.
We have nothing to report in tfNs regard.
mA￿ERs ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nolfryng to report in respecl ol the followng matters in rdation to which the Charitie5
IAccounts and Reportsl Regulations 2(X)8 requwe us to report to you rf. in our opinicy):
the informolion given in Truslees, rep￿ is incon5iStent in ony moteriol respect Vrfith the
firK]r￿101 statemenls,. or
suff icient accounting records kKJve not been kepl.. or
the financial statements are TK)t in agieement with the accountirvJ reccyds." or
we kK]ve not recetved all the information ond explonations we require I{￿ our audit.
RESPONSIBILlnES OF TRUSTEES
A5 explained M(￿e lully in the TTU5tee5' re5portsitxfilies slalement. the Ttustees are responsible for the
preparalion of financial slalements and for b￿ng salisfied that they give a Inje ar)d fair view. and for
such internal control as the Truglees determine is necessory to enable the preporalion of financial
statements Ihat are free trom material misstatement, wtEthet due to fraud (K error.
In preparing the financial slatements. Trustees are responsible lor assessing the charity's ability to
continue as a going concem. disclosing. as applicable. matters related to going concern and using
the going concem basis of accounting unless the Truslees ￿ther inlend lo liquidole the charity or to
cease operations, (Y have no realistic alterr￿tiVe but to do so.
Annual Report to the 31" March 2024
Page 17133

THE LEN PICK TRUST
INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF THE LEN PICK TRUST
FOR THE YEAR ENDED 31 MARCH 2024
AUDITORS. RESPONSIBILrriES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in
acCordar￿e with regulations made having effect thereunder.
Our objectives ore lo obloin reosonoble assurance ob(xJt whether the finoncial stotements 05 0
whole ore tree from rwterial nisstotement. whether due to troud or err(Y. and to i55ve an Auditors,
report that includes our opiThon. ReasorKJble assurance is o high level of assurance, but is not a
guarantee that on audit corKJucled in accorda￿e wth ISAS IUKI will a￿ayS detect o malerial
misstalement ￿en it exists. MisStateryEnts can anse from fraud or error and are considered material
if, individually or in the a9JTegate. they could ieogonobly be expected to influence the economic
decision5 of users taken on the basis ol these financial 5talemenls.
Irregularities, including froud, are instances of non-compfiance with laws and regulations. We design
procedures in line wth our responsibilities, oullined above. to detect material misstatements in respect
ot irregularities, includirYJ fraud. The exlent to which our proCedL￿e5 are capable of detecti
irregularities. inclvding fravd is detailed below=
ewuiry ot management around actual and potential lih"gation and claims",
reviewru financial statement dtsc105ures ond le5ting to supp(￿1r￿ documentation to assess
compliance wth applicable laws and regulations,. and
perf<yming avdit work over the rr5k of management override of contrds. including reviev4qng of
jourrKJI entries and other adjuslments for appropriateness. and reviewing accounting estimates
bias.
Because of the inherent linNtatiors of an audit. there is a risk thal we will not detect all irregularities,
including those leoding to a moleriol misstatement in the linanciol slolements oi non-complionce
ith regulation. Triis risk increases the m(Ke ttK]t compliance wttrh o low (K regvlation is removed from
the events and transactions reflected in the financiol slatements. as we wll be less likely to become
aware of instances of non-complionce. The risk is also greater regoiding itTegulorities occurring due to
fraud rather than errcy. as fraud involves intenh.owl concealment. forgery. collusion. omission or
misrepresentation.
A further description of ovr responsibilih.es for the avdit of the financial statements is located on the
Financial Reporting Council's website at: www.frc.(xg.uklauditorsresponsibilities. This description forms
part of our Audilor5' report.
Annual Report to the 31" March 2024
Page 18133

THE LEN PICK TRUST
INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF THE LEN PICK TRUST
FOR THE YEAR ENDED 31 MARCH 2024
USE OF OUR REPORT
This report is made solely to the charity's trvslees, as a body, in acccxdance with Part 4 of the Charities
(Accounls and Reportsl Regulations 2XB. Our oudit work has been undertaken 50 that we might
state to the charity's trustees those matters we are reqvired lo state to them in an Auditors. Teport and
lor no other purpose. To the fullest extent petmilted by law, we do not accept or assume responsibility
to anyone olher Ihon Ihe charity and the chority's trvstees as a body. f(K OLT audit wcrt. for this
report, CK for the opinions we have lormed.
wMtIlNGS LLP (St<ttulory Avdilor)
Chartered Accountants
Greenwood House
Greenwood Court
Skwiner Way
Bury St Edmvnds
Suffolk
IP32 7GY
Dale".
2411012024
Whitings LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for
appointment as auditor of a company under section 1212 of Companies Act 2(X)6.
Annual Report to the 31" March 2024
Page 19133

Statement of Financial Activities
THE LEN PICK TRUST
STATEMENT OF FINANCIAL ACTtvirtES
FOR THE YEAR ENDED 31 MARCH 21r24
UMestrlcl•d Endowm•nt
lunds
lunds
2024
2024
Total
lunds
2024
Total
ftjnds
2023
Not•
INCOME FROAi'
tknnatK)ns
Investments
371
TOTAL INCOME AND ENDOWMENrs
137351
EXPENDrruRE ON:
Ch￿[￿at￿e activilie5
InvesttTent mawgemenl
Management ond de￿Very of PL
98.n6
12.109
98.716
12,109
132,330
11,782
TOTAL EXPENDifuRE
194611
NEf INCOME I (EXPENDITURE) BFORE
INVESTMENT GAINS
19,324
19,324
157,200)
Nel gainslO05sesl on inveslmenls
13
888 833
NET INCOME I (EXPENDITURE) B￿ORE
TftAMSFERS
90&IS7
908.1 $7
1419.245]
Transf￿ between funds
NET MOVEMENT IN FUNDS
7,3SS
g00.W2 908,157
(419.245J
RECONCIUAnoN OF FUNDS:
Totol lurK15 broughl IoThYcTd
TOTAL FUNDS CARRIED FORWARD
The notes CA) poges 21- 32 f(ym p(xl ol these fin0￿1(1 slolements.
Annual Report to the 31" March 2024
Page 20133

## pate: $%&'( 24/10/2024 



Notes to the Financial Statements
THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
I.1 GENERAI INFORMATION
The Len Pick Tnjst is o Charity incorporaled in Eroland and Wales, charity number 1106598.
Tre ptincipal office is 5 Gfanby Court. Hereward Slreel, Bourne. Lincolnshire, PEIO 9AD.
1.2 BASIS OF PREPARATION
The fimncial statements have been prepared iri acc(￿dance with AccountiTU and
Reporting by Charities.. Slolemenl of Recommended F¥actice applicable lo Charities
preparing their aCC￿nIS in accordance with the FIr￿ncl01 Repcrting Standard applicable
in the UK and RepUt￿lC of keland IFR51021 published October 2019
Chorities SORP
IFRS1021. the Financial Repotling StarKlaTd applicable in the UK arKJ Republic ol Irdand
IFRS1021. the Charilies Act 2011. and UK Generalty Accepted Accounting Practice.
The Trust conslitlhes a public benefil enlity as defined by FRSI (Y2.
Assels arKI liabilities ore initialty recognised at hist¢￿Cal cost (Y Iransaction value utless
olher¥Mse stated in the relevant accountiru policy.
1.3 GOING CONCERN
The financial stalemenls have been prepared on a going concem basi5 a5 the Trustees
believe that no material uncerlainlies e￿$t. The Trustees have considered the level of lund5
hdd and the level ot expected income and experKliture for the 12 months from the dote
of Signing these fi[KI￿101 stalemenls and are Satisfied tFK]I the Charity will C(￿tInUe a5 a
going concem.
1.4 INCOMING RESOURCES
l income ￿ recogThsed CKbce the Trusl has entitlement to Ihe income. it is probable
the income will be received ond amount ot irrome receivoble can be measured
ieliably.
Vduntory inc(xne is tr(xn (lorK]tions and is recognised on o receipts basis.
Income from inveslmenls is included when rec&vable either by the Trust ol wthin the
inveslment fund.
1.5 FUND ACCOUNfiNG
UrYestrscted funds are availatAe for use at the discretion of the Ttustees in furtheTance ol
the generol okiectives ol the Trust.
The endowment fund represents the bala￿e recaved from the Estcrte ol the late Mr T.L.
Pick arKJ il is the intenlion of Ihe TTUStees tFK]i this balance sFK)uld be maintained to prowde
Sultable levds of investment income to meet the Trusts chariloble obligations.
Annual Report to the 31" March 2024
Page 22133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES Iconiinued)
1.6 RESOURCES EXPENDED
Expenditure is recognised on an accTuals basis as a fiabifity is incuffed. Expenditure includes
any VAT which cannot be fully recovered, and is reported 05 parl of the expenditure to
which is relotes.
Cogls ol generoting fvnds comrxise the costs of both attractirvJ vcAunlary income and the
cosls associated with its permitted troding activities of lethng properties.
Choritable expenditure comprises those costs incurred by the Charity in Ihe delivery of its
aclivilies and services for its beneficiaries.
Grants payable are included on an accruals basis, where the granl is due to be paid to the
benefactor once the qualifying corKlition5 have been met. There is a right to recover
grants given and not utilised in acc(Ydance wilh the agreed terms. and any recoveries will
be included in the accounts when recoveied.
GOve￿anCe costs include tIK)se costs associated with rneeh.ng the con5h"tutional and
statutory requirements of the Charity. including audit fees and costs ass(Kiated wth the
AGM and similar b(x]rd meetings.
1.7 FIXED ASSETS
Tongibie fixed ossets are carried ol cost, r￿t of depreciation ond ony provision lor
impairmerlt. Depreciation is provided al rates calculated to write off the cost of fixed
assets, less their estimoled residuol volue. over Ih&r expected useful lives on the fdlowing
bases..
Office equipment
Building
25% reducing balance
25 ye(]r5 5traighl line
1.8 INVESTMENf PROPERTY
Ir)vestment properties are included in the balance sheet at fair value detefmined annually
by the Trustees and are not deprecialed.
1.9 INVESTMENTS
The Trust adopts o Total Retums Policy of a sum eq￿valent to 2% of the copilol fund based
on the value of the fund ot the commencement of the prewous finoncial period. This policy
is adopted due to Clvrent economic corKlitions arKJ the low investment retums currenmy
being received. This pcAicy is reviewed annually.
Ir) accudance with the Charities SORP 2019. investments are stated in Mese accounts at
th&r current market value. Investment gains ond losses. whether realiged or unrealised, are
combined and presenled a5 gain5lllossesl on Inves1￿￿nts in the Stalement ol FirK]ncial
Activilie5.
Annual Report to the 31" March 2024
Page 23133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (continued)
1.10 DEBTORS
Trade ond olher debtors are reCO￿lSed at the settlement amount. Prepayment5 are
valued at the amounl prepaid net ol any trade discounts due.
1.11 CASH AT BANK AND IN HAND
Cash at bank and in ￿r￿1 includes cash and short term highly liqvid investments with a
sh￿1 moturity of three months or less from the date of acquisition or opening of the deposlt
or similar account.
1.12 LIABIUTIES AND PROVISIONS
Liabilities are recognised when there is an obligation at the balance sheet date as a result
of o pasl event, it Is probable that a transfer of economic benefit will be required in
settlement, arKJ the amount of the setHement can be estimated reliably. ￿abilItieS are
recognised al the amount thal the chaiity anticipate5 It will pay to Settle the debt 01 the
amount it recaved as advanced payments lor the goods cy services it must prowde.
Provisions are meosured al the best estimate of Ihe omounts Tequired to settle the
obligolion. Where the effect of the time value of mOr￿Y is rrKltefial. the prowsion is based
on the presenl value of those amounts. discounled at the pre-tax discount rate that
reflecls the risks specific to the liability- The unwnding of the discount is recognised wthin
interest payable and similar charges.
1.13 FINANCIAL INSTRUMENTS
The chotity enter5 into bosic ffinanciol in5ttument tran50ctions tFKJt ie5uIt in the recognition
of finarlcial asset5 arKI liabilities such as trade and ott)er accounts receivable and payable.
loans from banks and other IINrd parties, IcKJns to rdated parties and investment in
non-puttoble (ydinory shore5.
Annual Report to the 31" March 2024
Page 24133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES {conliwed)
JUDGEMENTS IN APPL YING ACCOUNIING POUCIES AND KEY SOURCES OF EsllMATION
UNCERTAINTY
Estimates and judgements are based on historical experrence and other factor5, including
expectations of future events. that are believed to be reasonable undef the circumstances
and are subject to C(￿hnu0VS moNtoring.
The Trust makes estimates and assumptions relatirvJ to ￿ture events which will. by definition.
seldom equal the related actval results. The estimoles and ossumplions that have a
signilicanl risk of cousing a malerial adjustmenl to the carrwru amounts ol asset5 arKI
liabilities wilhin the nexl financial year are addressed below.
Useful econoTrMc fives arKJ [￿dUat values of taruibFe assets
The annual depreciation charge tangible assels t5 sensitive to changes in the estimated
useful ecorK)mic lives and residual value5 of the assets. The useful economic lives and
residual values are re-assessed annvally. They are amended when necessary to reflect
current estimates, based on techncAogical advancement, fvlue investments. economic
ut1lisali(￿ and the physical condition of the assets.
Carrwng volue of investmenl properlies
The fair value of investment properlies held tcx rental purposes is determined by the Trustees
based on an assessmenl of capitalised market rental yields having rewrd to currenl arKJ
anticipated market condilion5.
Annual Report to the 31" March 2024
Page 25133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
INVESTMENT INCOME
Unrestrlcted
fvnds
2W24
Total
fvnds
Total
funds
2023
Rents Ir(xn investment prq)erlies
Rents fr(xn office lets
Income from lisled investments
Interesl inc(xne
11.891
855
154.078
961
11.891
855
154.078
961
10.628
250
126.177
285
In 2023 all of the inveslment income was to unreslllcted furKIs.
MANAGEMENT AND DEUVERY OF CHARITY'S PURPOSE
Urne5tricted
funds
2024
Tolal
funds
2024
Tolal
funds
2023
Insurar£e
Sundries
Deprecialion & loss on disposal
Management ckK]rges
Auditors, remuneration
1.126
9.267
9.109
13.434
4.71KI
1.126
9.267
9.109
13.434
4.7(Kl
1,286
11.750
9,618
23.267
4,578
In 2(r23 all of the management and delivery costs were to unreslricted funds.
Annual Report to the 31" March 2024
Page 26133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMEMrs
FOR THE YEAR ENDED 31 MARCH 2024
INVESTMENT MANAGEMENT
Unresfricled
funds
2024
Total
funds
2024
Total
funds
2023
Professional fees- inveslment advice
In 2(Y23 all of the investment management fees wa5 to urYe51ricled fund5.
Inveslmenl management lees are payable lo Whitings Wealth Management Ltd, a company in
which the audit firm has o linonciol interest.
CHARITABLE AcnvmES
Nole Unreslricted
funds
2024
Tolal
funds
2024
Total
funds
2023
Grants payoble
Charitable costs
97.894
822
97.894
131,653
677
In 2(Y23. all of the chaTitable activity expenditure wa5 lo unrestricted fuTKIs.
Charitable costs represent the orvJoing management ond upkeep ol ￿ towers and their
svffoundings on land owned by Ihe Trust.
TOTAL EXPENDITURE
Note Governance
Costs
2024
Tolal
funds
2024
Total
funds
2023
Costs
21724
Managerr*nt & delivery
Investment management
Charitable activities
5.130
32.506
12.109
98,716
37,636
12.109
98.716
50,499
11.782
132,330
Annual Report to the 31" March 2024
Page 27133

THE LEN PICK TRUST
NOTES TO THE RNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GOVERNANCE COSTS
Unreslricled
fvnds
2024
Total
lunds
2024
Total
lur)ds
2023
Auditors, remuneration:
Audil services
Olher setvices
2.292
2.408
Z292
2408
2,292
2,286
TtU5tee liobility insurance
430
GRANfs PAYABLE
Unreslricted granls to institulTrons=
2024
2023
Relief of Poverty
Social and Medical Welfare
Welfare of Ihe Elderly
Spc
Music and Ihe Arls
Education
Community
Youlh
Religior)
MerrK)rial
14,275
11.770
4.444
36,750
2.(X)O
25.800
(2,990)
3,170
18,679
25,546
5CK)
55,744
1,320
24,724
3,700
1,440
2.675
10. STAFF COSTS
The overage number of wsons employed by the Charity during the year was ni11￿23 - nil).
No employee received remuneration amounting to more than £60.(XX) in either year.
Annual Report to the 31" March 2024
Page 28133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
TANGIBLE FIXED ASSETS
Freehold
Property
Office
Eqvipment
Tolal
Cosl
At l April 2023
Additions
tJsposals
)5.242
16.782
222.024
At 31 March 2024
205 242
Depreclallon
At l April 2023
Charge for the year
Withdrawn on disposals
65,639
8.210
13.186
899
78.825
9,109
Al 31 March 2024
Nel book value
At 31 March 2024
At 31 March 21r23
12. INVESTMENT PROPERTY
2024
M￿ke1 Value
At l April 2023
Revaluatior)
455,(X)O
Al 31 March 2024
Properties held lor inv￿tment purposes were revalued during the year by the Trustees on an
open market value b05is. Theie has been m change in value dvring the yeor.
Annual Report to the 31" March 2024
Page 29133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. USTED INVESTMENTS
Endowment
Funds
Total
At l April 21Y23
7,635,251
7,635,251
Addilions/lwithdrowulsl
11.969
11.969
Net realised and unreolised gairslllossesl
883033
888,833
At 31 March 2024
The lair value of listed inV￿tmentS is determined by reference to the quoted price at 31 March
2(r24. The fair volue of investments comprise eqvitie5 £8.382.494 12023 £7.534.2331 and cash
held within Ihe pixlfdio of £153.559 12023 - £101.0181.
14. DEBTORS
21Y24
23
Investment income
15. CREDITORS: Amounts falling due wilhin one ye¢x
2024
2023
Grantg paYa￿e
Accrua15 and deferred inc(xne
73,705
10.072
10.165
The truslees have accTued a5 0 IK]bility gTantS FKJyable. where Ihe qualifying conditions have
been met at the balance sheet date. and the grant has been approved for payment by the
trustees.
16. FINANCIAL INSTRUMENrs
2024
2023
Financial assets
Financiol assets measured ot fo￿ value through income
and expenditure
Financial a55ets measured at fair value through income and eXpendIt￿e comprise investments
and inveslment property
Annual Report to the 31" March 2024
Page 30133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. STATEMENT OF FUNDS
STATEMENf OF FUNDS - CURRENT YEAR
Balance at
31 March
2024
Bala￿e at
l Aprfl 2023
Gain51
(losses)
Income Expendllure Translers
General lund5
Unreslricted tunds
134.664
167.785
1148.4611
I￿0,￿2) 888,83-
142,019
Endowment fvnds
Copitol fund
8.090.251
9(x)E(r2
8.991.053
Tolal of fvnd5
167 785
STATEMENT OF FUNDS - PRIOR YEAR
Balance at
31 March
2023
Balonce at
l Apn-12022
Transfers
in/out
Gains 1
[lossesJ
Income Expenditure
General fvnds
UnreslHcted funds
186.319
137.351
1194.61 IJ
367.590
1361,985)
134,664
Endowment funds
Capital fund
8.457.841
[367,590)
8,O¢XI,251
Total ol fvnds
8 644 160
137351
194611
8224 915
General unreshlcted fund: The general unrestricted fund rdoles to furKls reloined and ovoiloble for
the general purposes of the Trust.
Endowment c￿lIa1 lund: The capvFol fvnd 15 to be maintoined ot o value equol to the volue of its
investment assets. being investments ond investment property, by way of a transfer to/from the
general unreslricted fund.
Annual Report to the 31" March 2024
Page 31133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. SUMMARY OF FUNDS - CURREN[ YEAR
Balance al
31 m￿Ch
2024
Bdance al
l Aprll 2023
Gains /
(losses)
Income
Expendlture Transfers
134.664
167.785
1148.4611
I9(K).e￿2j
8&9￿33
142,019
General funds
Endowment funds
8.1)90,251
9(K),￿2
8,991,053
SUMMAR Y OF FUNDS - PRIOR YEAR
Balonce ot
31 March
2023
Balance at
l April 2022
Gains /
(losses)
Income
Expenditure
Transfe
186.319
137.351
{194.61 IJ
307.51X)
(301.9851
134.064
General funds
Endowment funds
8,457,841
I￿7,590j
8,OW,251
Total of funds
Annual Report to the 31" March 2024
Page 32133

THE LEN PICK TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS
ANALYSIS OF NET ASSEfs BETWEEN FUNDS- CURRENf YEAR
Unreslrlcted Endovm)net
funds
fund5
2024
Total
funds
2024
2024
Tarlgible [￿ed assets
Investment property
Li51ed inve5tmenls
Current assets
134.090
134,090
455,(X)O
8,536,053
7,929
455.(X)O
8,536.053
Total
ANALYSIS OF NET ASSEfs BETWEEN FUNDS- PRIOR YEAR
UnreslTf"cled Endowment
funds
funds
2023
2023
Total
funds
2023
Tangible fLKed assets
Investment property
Listed investments
Current as5et5
143. IW
143,IW
455,0(K)
7,&35,251
f8,535J
455,0(LJ
7,635,251
(8.535)
Total
20. TRANSACTIONS WIIH TRUSTEES AND OTHER RELATED PARTIES
During the year no remuneration was paid to TruStees1￿23- nill.
Durtng the year no expenses were TeimbuTsed to any Trustee I￿)23- nill.
There were no other related party transactions.
Annual Report to the 31" March 2024
Page 33133