POLLYWALLY CHARITABLE TRUST
REGISTERED CHARITY NUMBER 1107513
TRUSTEES’ ANNUAL REPORT
- and -
UNAUDITED ACCOUNTS
FROM 1 AUGUST 2019
TO
31 JULY 2020
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
| Contents | Page |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees’ Annual Report | 2 - 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Unaudited Accounts | 7 - 10 |
Page 1
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
REFERENCE AND ADMINISTRATIVE DETAILS
TRUSTEES
J. H. Pollins Mrs. S. L. Pollins J. Waller Mrs. S. Waller
REGISTERED CHARITY’S CONTACT AND PRINCIPAL ADDRESS
Mr. J. Waller Pollywally Charitable Trust 88 Edgware Way Edgware HA8 8JS
DETAILS OF FORMATION
The Charity was created by Declaration of Trust on 1 December 2004 and registered with the Charity Commission on 7 January 2005 under Charity Number 1107513
BANKERS
Metro Bank plc
INDEPENDENT EXAMINER – HONORARY
Stephen Sacks FCA for Shears & Partners Limited Chartered Accountants 88 Edgware Way Edgware HA8 8JS
Page 2
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2020
The Trustees present their Annual Report and the Unaudited Accounts (“the Accounts”) of Pollywally Charitable Trust (“the Charity”) for the year from 1 August 2019 to 31 July 2020. The Accounts have been prepared in accordance with the Accounting Policies set out on Page 7 and comply with the Charity’s Declaration of Trust and applicable law.
• OBJECTIVES AND ACTIVITIES
Summary of the Purposes of the Charity
The Trustees shall stand possessed of the Trust Fund upon trust to or for the benefit of any charitable object or purpose that the Trustees may deem proper.
The Charity supports institutions of primary, secondary and further education, in addition to institutions caring for the poor and sick, who qualify as charitable beneficiaries under English Law.
Monies are raised mainly by way of donations from the Trustees’ private business interests. The Charity was set up to separate the Charitable activities of the Trustees from their business activities. Occasionally the Charity receives donations from other individuals (and their private companies) whom the Trustees know personally and who wish to support the individuals/organisations to whom the Charity makes donations or grants.
Charities and Public Benefit
The Trustees have considered the Charity Commission’s guidance on public benefit and are satisfied that the Charity complies with that guidance.
Grant Making Policy
The Charity invites applications for grants from needy individuals and other Charitable Beneficiaries. All applications are considered by the Trustees at regular meetings and require approval of a majority of the Trustees. Although this puts extra demand on the time of the Trustees, the process ensures that all applications for financial assistance are given full and fair consideration.
• ACHIEVEMENTS AND PERFORMANCE
Summary of the Main Achievements of the Charity
The Trustees are delighted to announce that the Charity has received, in total, donations including Tax Recoveries of some £27.46k (2019: £33.73k). Grants and donations of some £27.63k (2019: £32.77k) were made in the year. The recipients of material grants and donations are detailed in Note 3 to the Accounts.
• FINANCIAL REVIEW
Review of the Charity’s Financial Position
The Charity held £31 in the bank at the year end ( 2019: £204 ). The Charity makes grants and donations of all of its income receivable.
Reserves Policy
The policy of the Charity is to distribute funds as soon as they are cleared to qualifying, charitable beneficiaries.
Investment Policy
The Charity holds a Bank Current Account. This is the only investment to which the Charity has title.
Page 3
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2020 (Continued)
Risk Management
The Trustees carried out a full risk assessment when the Charity commenced. Due to the nature of the Trust not carrying out any activities other than collecting monies from the Trustees private business interests and from individuals (and their private companies) whom the Trustees know personally, and distributing to suitable Charitable Beneficiaries, the risks are limited. The only risk that the Trustees identified was a fraudulent claim for charitable funds from the Charity. The Trustees mitigate this by carefully considering each application for a grant or donation as detailed in the Grant Making Policy below.
• STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is an unincorporated entity constituted under a Declaration of Trust dated 1 December 2004 and was registered with the Charity Commission on 7 January 2005 under Charity Number 1107513.
The Trustees in office in the year were as follows:
J. H. Pollins Mrs. S. L. Pollins J. Waller Mrs. S. Waller
The power of appointing new Trustees or a new Trustee thereof shall be exercisable by the persons who are, for the time being, the Trustees hereof.
• RELATED PARTY RELATIONSHIPS
During the year, the Charity received Corporate Charitable Donations of £26,403 (2019: £32,252) from Waller Pollins Limited, two of that Company’s Directors/Shareholders are Trustees namely J. H. Pollins and J. Waller. The Charity received Donations (including Gift Aid) of £1,000 (2019: £250) from J. Waller and Mrs. S. Waller who are Trustees of the Charity.
•
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and Administrative Details are set out on Page 1 and form part of this report.
The Trustees declare that they have approved the Trustees’ Report above.
Signed on behalf of the Trustees
J. H. POLLINS Trustee
Date: 20 May 2021
Page 4
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF
POLLYWALLY CHARITABLE TRUST (“the Charity”)
Registered Charity Number 1107513
FOR THE YEAR ENDED 31 JULY 2020
I report to the Trustees on my examination of the Unaudited Accounts (“the Accounts”) of Pollywally Charitable Trust (“the Charity”) for the year from 1 August 2019 to 31 July 2020 which are set out on Pages 5 to 9.
Responsibilities and Basis of Report
As the Charity’s Trustees you are responsible for the preparation of the Accounts in accordance with the Charities Act 2011 (“the 2011 Act”).
I report in respect of my examination of the Charity’s Accounts carried out
-
under Section 145 of the 2011 Act; and
-
in carrying out my responsibilities I have followed all the applicable Directions given by the Charity Commission (under Section 145(5) (b) of the 2011 Act);
Independent Examiner’s Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
-
the accounting records were not kept in accordance with Section 130 of the 2011 Act; or
-
the Accounts did not accord with the accounting records; or
-
the Accounts did not comply with the applicable requirements concerning the form and content of the 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 Sacks FCA
For SHEARS & PARTNERS LIMITED Chartered Accountants
88 Edgware Way Edgware HA8 8JS
Date: 20 May 2021
Page 5
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
STATEMENT OF FINANCIAL ACTIVITIES
FROM 1 AUGUST 2019 TO 31 JULY 2020
| Note | 2020 | 2019 | |
|---|---|---|---|
| £ | £ | ||
| INCOMING RESOURCES | |||
| Income and Endowments from: | |||
| Donations and Legacies | (2) | 27,459 | 33,728 |
| Investments | (2) | - | - |
| Total | (7) | 27,459 | 33,728 |
| _ | _ | ||
| RESOURCES EXPENDED | |||
| Expenditure on: | |||
| Charitable Activities | (3) | (27,632) | (32,770) |
| Other | (4) | - | (63) |
| Total | (7) | (27,632) | (32,833) |
| _ | _ | ||
| NET INCOME/(EXPENDITURE) | (173) | 895 | |
| Total Funds Brought Forward | (7) | 204 | (691) |
| Total Funds Carried Forward | (7) | £31 | £204 |
| == | === |
The Notes on Pages 7 to 10 form part of the Unaudited Accounts.
Page 6
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
BALANCE SHEET
AS AT 31 JULY 2020
| Note | 2020 | 2019 | |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | (5) | - | - |
| Cash at Bank and in Hand | 31 | 204 | |
| 31 | 204 | ||
| CREDITORS:Amounts falling due within one | |||
| year | (6) | - | - |
| TOTAL ASSETS/(LIABILITIES) | £31 | £204 | |
| == | === | ||
| FUNDS OF THE CHARITY | |||
| Unrestricted Funds | (7) | £31 | £204 |
| == | === |
The Accounts were approved on 20 May 2021 and signed by the Trustee below on behalf of all of the Trustees.
______ Trustee
J. H. POLLINS
The Notes on Pages 7 to 10 form part of the Unaudited Accounts.
Page 7
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
NOTES TO THE UNAUDITED ACCOUNTS – 31 JULY 2020
1. ACCOUNTING POLICIES
- a. Basis of Accounting
The Unaudited Accounts (“the Accounts”) of Pollywally Charitable Trust (“the Charity”) 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 the Accounts:
-
The Charities Act 2011 (“the 2011 Act”)
-
The Financial Reporting Standard 102 applicable in the UK FRS 102 (“FRS 102”)
-
• The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their Accounts in accordance with the Financial Reporting Standard applicable in the UK FRS 102 issued on 16 July 2014 the FRS 102 SORP (“the SORP”)
-
The Charities SORP (FRS 102) Update Bulletin 2 issued on 5 October 2018 (“the Charities SORP FRS 102”)
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
b. Income
Grants and Donations
Grants and Donations accounted for in the Statement of Financial Activities (“SOFA”) when the Charity becomes entitled to the donation and any conditions for receipt are met.
c. Expenditure and Liabilities/Grants Payable without Performance Conditions
Charitable Activities represents Grants and Donations payable and are charged in the year in which payment of funds is conveyed to the recipient.
d. Liability Recognition
Liabilities are recognised as soon as 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.
e. Other
Other comprises Governance Costs which include the cost of the preparation and examination of the Annual Accounts, and the cost of any legal advice to the Trustees on Governance and Constitutional matters.
f. Assets
Debtors
Debtors (including 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.
Page 8
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
NOTES TO THE UNAUDITED ACCOUNTS – 31 JULY 2020 (Continued)
ANALYSIS OF INCOME AND ENDOWMENTS from:
2. INCOMING RESOURCES
| INCOMING RESOURCES | ||
|---|---|---|
| 2020 | 2019 | |
| Donations and Legacies | £ | £ |
| Charitable Trusts | - | 600 |
| Corporate Entities | 26,459 | 32,878 |
| Individuals (including Gift Aid Reclaimed) | 1,000 | 250 |
| 27,459 | 33,728 | |
| Investments | ||
| Interest Receivable | - | - |
| £27,459 | £33,728 | |
| ===== | ==== |
ANALYSIS OF RESOURCES EXPENDED on:
3. CHARITABLE ACTIVITIES
Analysis of Grants/Donations – 2019/2020
| Analysis of Grants/Donations – 2019/2020 | ||||
|---|---|---|---|---|
| Grants to | Grants to | |||
| Institutions | Individuals | Total | ||
| £ | £ | £ | ||
| Education | - | - | - | |
| General Charitable Activities | 27,632 | - | - | |
| Relief of Poverty | - | - | - | |
| Religious Organisations | - | - | - | |
| Welfare | - | - | - | |
| £27,632 | £ - | £ | - | |
| ===== | == | == |
Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions for the following purposes:
| Total Number | Total Amount | ||
|---|---|---|---|
| of Donations | of Donations | ||
| Name of Institution | Purpose | Paid | Paid |
| £ | |||
| The BSD Charitable Trust | General | 12 | 26,400 |
| Edgware Foundation | Education | - | - |
| 12 | 26,400 | ||
| Grants immaterial to total grants made to Institutions | 4 | 1,232 | |
| 16 | £27,632 | ||
| == | ===== |
Page 9
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
NOTES TO THE UNAUDITED ACCOUNTS – 31 JULY 2020 (Continued)
3. CHARITABLE ACTIVITIES (Continued)
Analysis of Grants/Donations – 2018/2019
| Grants to | Grants to | ||
|---|---|---|---|
| Institutions | Individuals | Total | |
| £ | £ | £ | |
| Education | 1,060 | - | 1,060 |
| General Charitable Activities | 27,200 | - | 27,200 |
| Relief of Poverty | 770 | - | 770 |
| Religious Organisations | - | - | - |
| Welfare | 3,740 | - | 3,740 |
| £32,770 | £ - | £32,770 | |
| ===== | == | ===== |
Grants to particular Institutions that are material in the context of Grants to Institutions were made to the following Institutions for the following purposes:
| the following Institutions for the following purposes: | |||||
|---|---|---|---|---|---|
| Total | |||||
| Total Number | Amount of | ||||
| of Donations | Donations | ||||
| Name of Institution | Purpose | Paid | Paid | ||
| £ | |||||
| The BSD Charitable Trust | General | 12 | 27,200 | ||
| Edgware Foundation | Welfare | 5 | 3,360 | ||
| 17 | 30,560 | ||||
| Grants immaterial to total grants made to Institutions | 8 | 2,210 | |||
| 25 | £32,770 | ||||
| == | ===== | ||||
| 4. | OTHER | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Other represents Governance Fees | £ | - | £63 | ||
| == | == | ||||
| There were no fees paid by the Charity to the Independent Examiner who acts on an Honorary | basis. | ||||
| 5. | DEBTORS | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Other Debtors | £ | - | £ - | ||
| == | == | ||||
| Other Debtors comprises Tax on Gift Aided Donations reclaimable by the Charity. |
Page 10
POLLYWALLY CHARITABLE TRUST
Registered Charity Number 1107513
NOTES TO THE UNAUDITED ACCOUNTS – 31 JULY 2020 (Continued)
- CREDITORS : Amounts falling due within one year Other Creditors
2020 2019 £ £ £ - £ - == ==
7. UNRESTRICTED FUNDS
Statement of Financial Activities £
| At 1 August 2019 Income and Endowments Expenditure At 31 July 2020 |
204 27,459 (27,632) |
|---|---|
| £31 == |
8. TRUSTEES EXPENSES
There were no expenses or remuneration paid to the Trustees in the current or the previous Accounting Year.
9. EMPLOYEES
The Charity, save as for its 4 Trustees, had no employees in either the current or the previous Accounting Year.
10. TRANSACTIONS WITH RELATED PARTIES
During the year, the Charity received Corporate Charitable Donations of £26,403 (2019: £32,878) from Waller Pollins Limited, two of that Company’s Directors/Shareholders are Trustees namely J. H. Pollins and J. Waller. The Charity received Donations (including Gift Aid) of £1,000 (2019: £250) from J. Waller and Mrs. S. Waller who are Trustees of the Charity.