## **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)_ 

6. _**CREDITORS**_ :    Amounts falling due within one year Other Creditors 

2020 2019 £ £ £  - _£  -_ == _==_ 

## 7. _**UNRESTRICTED FUNDS**_ 

Statement of Financial Activities £ 

|At 1 August 2019<br>Income and Endowments<br>Expenditure<br><br>At 31 July 2020|204<br>27,459<br>(27,632)|
|---|---|
||£31<br>==|



## 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.