Thomas Pocklington Trust
TrT
Thomas Pocklington Trust
Report and Accounts
for the year
ended
31 March 2021
Registered with the Charlty Commission as
Thomas Pocklington Trust
Charity No. 1113729
Company No. 05359336

Thomas Pocklington Trust
Contents
Page
Trustees, Patrons, Key Management Personnel and Advisers
Trustees, Annual Report incorporating the Strategic Report
Independent Auditor's Report
20
Statement of Financial Activities
25
Statement of Financial Position
26
statement of Cash Flows
27
Notes to the Accounts
28

Thomas Pocklington Trust
Trustees, Patrons, Key Management Personnel and Advisers
Board of Trustees
Mervyn Williamson
Rodney Powell MBE
Jenny Pear￿ BEM
Alastair Chapman
Rt Hon Marsha De Cordova MP (resigned May 2020)
Graham Findlay
Robert Holl
Phil Longworth
Raj Mehta
Helen Mitchell
Judith Potts
Matt Wadsworth
Chair
{deceased September 2020)
Deputy Chair
(appointed March 2021)
(appointed March 2021)
Patrons
Pat Powell
Hon. Jessica White
(de￿aSed February 2021)
Key Management Personnel
Charles Colquhoun
Chief Executive
Registered Office
3 Queen Square
London
WC1N 3AR
Registered Numbers
Registered as a charity, number: 1113729
Registered as a company, number: 05359336
Website
www.pocklington-trust.org.uk

Thomas Pocklington Trust
Trustees, Patrons, Key Management Personnel and Advisers
Principal Professional Advisers
Bankers
The Co-operative Bank PIC
9 Prescot street, London
E18BE
Natwest
314 Chiswick High Road,
London
W4 STA
Registered Auditor
Mazars LLP
6 Sutton Plaza, Sutton Court Road,
Sutton, Surrey,
SM14FS
Solicitors
Russell-cooke
2 PLrtney Hill, London
SW15 6AB
Investment Managers
Sarasins
Juxon House
100 St Pauls Churchyard
London EC4M 8BU
Property Managers and
Advisers
Tandem
27 Bream's Buildings, London
EC4A 1 DZ
Insurance Brokers
Lockton
The St Botolph Building
138 Houndsditch
London
EC3A 7AG

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
The Trustees, who are also Directors for the purposes of company law,
present their report and the accounts of the Chartty for the year ended 31
March 2021.
This Trustees, Report required by the Charities Act 2011 is also the Directors,
Report and incorporates the Strategic Report, both prepared in accordance
with the Companies Act 2006.
Our Vision is a society where blind and partially sighted people can
participate fully.
Our Purpose is to support blind and partially sighted people of all ages to live
the life they want to lead.
Structure, Governance and Management
Thomas Pocklington Trust is a company limited by guarantee, company
number 05359336, registered with the Charity Commission, registration
number 1113729.
The Charity's constitution is its Articles of Association. The objects of the
Charity are set out below:
To relieve those in need through sight loss and other related conditions,
in particular by the provision of support Se￿iceS and information for their
care and welfare; and
To undertake research into the advancement of knowledge of the
prevention, alleviation and cure of visual impairment and other related
problems.
Thomas Pocklington Trust is authorised by the Charity Commission to be the
sole Corporate Trustee of The Gift of Thomas Pocklington (The Gift). As
Corporate Trustee, Thomas Pocklington Trust receives the income generated
by the Permanent Endowment (held by The Gift) to carry out the charitable
activities in line with the objectives set out in its Articles of Association.
The Board may comprise up to twelve Trustees, who have legal responsibility
for the effective use of resources in accordance with the Charity's objectives,
and for providing effective leadership and direction.

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Trustees have been appointed to the Board in accordance with the Trustees,
selection policy and taking account of the range of skills required to govern the
Charity's business. The recruitment and selection policy provides for various
methods of recruitment such as advertising and nomination. A skills audit is
conducted periodically to ensure that the Board has the requisite range of
skills to carry out its responsibilities.
All Trustees give of their time freely and no Trustee remuneration was paid in
the year. Details of Trustee expenses are disclosed in note 15 to the accounts.
Trustees are required to disclose all relevant interests and register them with
the Chief Executive and, in accordance with the Charity's policy, withdraw
from decisions where a conflict of interest may arise.
Each new Trustee is given an appropriate induction programme and training
relevant to their responsibility. Trust*s are also encouraged to involve
themselves in areas of particular interest through close involvement with the
management, staff and users of the Charty's services.
Pat Powell, who had served the Charity as a Trustee for 25 years before
retiring and becoming one of our Patrons in 2008, sadly died in February
2021. Her death marks the end of the link between the Powell family and the
charity which lasted 86 years and so this was a sad time for everyone involved
with the Charity.
The terms of reference and composition of the Board were reviewed during
the year to ensure they continue to meet the evolving needs of the charity and
its governance requirements and will continue to be reviewed regularly. As a
result of this review, we identified certain skills gaps and accordingly held an
open recruitment process for two Trust￿ vacancies. Robert Holl. who works
for Wellcome Trust's investment team on its property portfolio, and Helen Mitchell
who has over 12 years, experience in specialist and generalist HR roles. joined
the Board of Trustees in March 2021. The day-to-day management of the
Charity is delegated by the Trustees to the Chief Executive, who is supported
by the senior executive team. The Chief Executive works within a schedule of
delegated authorities with any decisions outside of the schedule being
reserved to the Trustees. Matters reserved to the Trustees include Chief
Executive remuneration, spend over £25k (2020: £25k). property disposals
and approving strategy, budgets and accounts.
The Chief Executive's remuneration is set by the Trustees and is subject to an
annual review. In undertaking this review the Trustees consider the outcome
of the annual appraisal of the Chief Executive and the remuneration of
comparative positions.

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Trustee indemnity insurance is provided by Hiscox.
Aims and Activities for the Public Benefit
Our agreed strategy puts an emphasis on Education, Employment and
Engagement, providing support to blind and partially sighted children, young
people and their families, and adults of working age.
Our strategic priorities are to increase awareness and understanding of the
needs and aspirations of blind and partially sighted people. We are committed
to working wtth partners and developing and implementing activities and
services which meet these needs to increase independence and improve lives.
These include:
Acting as an advocate and positive change agent for blind and partially
sighted people.
Creating opportunities for blind and partially sighted people seeking
employment.
Enabling opportunities and supporting blind and partially sighted people in
and entering education.
Facilitating the Vol￿ and encouraging self-determination of blind and
partially sighted people.
Being an effective partner and grant funder based on our knowledge of the
sector.
For more details see 'Activities and Grant Funding,. The Trustees confirm that
they have referred to the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the Charity's aims and
objectives and in planning future activities. Our ServI￿S are open to all blind
and visually impaired people regardless of their economic status, gender,
ethnicity, race or religion.
Where it is appropriate to charge for the ServI￿S we provide, we aim to set
our fees, rents and other charges at a level which will cover our direct
operating costs and make a contribution to central overheads, an objective
which is consistent with our aim of providing quality sustainable services. The
Charity received some donations during the year but does not currently
conduct public fundraising activÉties.
The Charity monitors success through a scorecard setting out quantitative key
performance indicators against relevant benchmarks, alongside qualitative
information that supports the articulation of our story. These indicators assist

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
in the monitoring of our progress on the delivery of the agreed outcomes that
we want to achieve for blind and partially sighted people as set out in our
strategy.
2021
£102k
68
£1,905k
2020
£87k
24
£2.125k
3.5%
Amount invested in research
Number of organisations supported
Total value of grants
Total return rate
The charity also provides administration support to a number of charities. The
value of this support in 2021 was £155k.
The charity also provided free meeting facilities for organisations in the sector
at its office in Tavistock Square. Unfortunately, because of COVID this
remained unused throughout 2020-21. In June 2021 the charity left those
offices and have moved into new offI￿S at 3 Queen Square.

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Risk management
The Trustees have a formal risk management process to assess business
risks and view the strategic management of risk as an integral part of their
decision-making processes, supporting effective planning and evaluation of its
activities. The key risks faced by the Charity are as follows..
Risk
How the risk is managed
Regular monitoring of relevant internal
policies and staff training in place, in
particular those regarding safeguarding
vulnerable people and GDPR.
Percentage of total return budget
determined annually by Trustees. Regular
monitoring of financial perfomiance.
Current pension liabiltty deficit recognised
on balance sheet and funding plan in place.
Ongoing monitoring to avoid potential debt I
penalty triggers.
Major fall in capital values
Diversified portfolio across different asset
across investment and propety classes. Only circa 10.5 % of investment
portfolios
assets held in stock market. Fall in property
value does not necessarily mean fall in
rental income. In assessing the total rate of
return, a trigger point is reached if property
values fall by 10 % -the total return rate
would then be reviewed by the Trustees.
The total return rate is reviewed annually by
Trustees. The charity also employs a highly
experienced Head of Property.
The Trustees have considered the possible
risks and have put in place measures to
maintain income and reduce future
expenditure if required. The position will be
kept under constant review and the
Trustees will as required take necessary
steps to ensure the charity continues as a
going concern.
Damage to reputation
Liquidity, including pension
liability risk
COVID 19
The Trustees confirm that they have reviewed the major risks and processes
for addressing them have been implemented.

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Activities and Grant Funding for the year
ending 31 March 2021
Services
Engagement and Public Affairs
We have established four new Sight Loss Councils (SLCS) in the past year,
which means we now have ten across the UK, which are in Bristol,
Birmingham, the Black Country, Greater Manchester, Merseyside, Gloucester,
Tyne and Wear, York, Bedfordshire and London (the latter delivered by our
partner London Vision). SLCS are volunteer-led groups. advocating for
change and inclusion for blind and partially sighted people. Each SLC is made
up of around 10-12 blind and partially sighted members who meet monthly to
discuss accessibility issues and plan projects in their regions that fall under
three new priority areas of Employment and Skills, Health and Wellbeing, and
Inclusive Communities.
The Bimingham SLC is now part of the Commonwealth Games accessibility
forum and we have worked collaboratively with Birmingham City Council and
the Commonwealth Games team to emphasise the importance of lived
experience and having important and insightFul conversations around the huge
scope of people with visual impairments and how their needs vary.
The Gloucestershire SLC has worked with Stagecoach West to ensure its
newly introduced audio-visual announcements across its Cheltenham Town
Centre routes fully support blind and partially sighted passengers. The
introduction of the new technology means that residents who are visually or
hearing impaired can travel with added confidence, knowing they will never
miss their stop. The feature, which will be available on all of Stagecoach's 14
state-of-the-art new buses, will include audio next stop announcements
designed to sound before and when the bus reaches each stop. In addition,
the name of the stop will flash on a screen inside the bus, reflecting the
company's commitment to making its sepiices accessible to all passengers.
Following on from this success, SLCS in the Northwest and East of England
are now also engaged and working with their local Stagecoach representatives
to make similar change happen.
We launched a new public affairs and campaigns function at the beginning of
202012021 as part of our wider engagement priority.
We played a key role in the Covid-19 pandemic response, working with other
charity partners to support visually impaired people. We lobbied the
government and supermarkets to provide dedicated support for blind and

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
partially sighted people to enable access to essential food deliveries during
lockdowns.
We have been members of the Department for Health and Social Care Covid
testing accessibility workstream. We have championed the needs of visually
impaired people and secured improvements to the design of home PCR Covid
tests and delivered video assistance and a dedicated telephone support
service through NHS Test and Trace. In addition, together with charity
partners we have led campaigning to ensure that the vaccine rollout has been
accessible to blind and partially sighted people.
We launched our Streets for All accessible streets campaign and have
pressed the govemment to introduce a nationwide ban on pavement parking
and secured a national consultation by the Department for Transport on the
issue.
We have developed detailed advice for local councils and e-SCOOter operators
on how best to protect vulnerable pedestrians from the impacts of e-scooters.
We are part of the Department for Transport taskforce on the management of
e-scooters and have had regular meetings with the Minister for Future
Transport on the cOn￿mS of visually impaired people. We have worked
closely with e-scooter operators to secure improvements and delivered
improved signage, better training and awareness for users, more appropriate
parking arrangements and led national work on the delivery of acoustic vehicle
alert systems in e-scooters.
Employment
Our employment initiatives seek to enable blind and partially sighted people
wanting to start, restart or progress their careers to receive professional,
relevant services and support. Resources we offer include one-to-one
employment advice and fr￿ career coaching. The 'We Work, section of our
website shows a series of case studies, blogs and videos which portray people
working in a range of roles and sectors.
We have continued to offer internships to blind and partially sighted people
seeking employment, and during the last year we piloted a new 'virtual
internship, programme. where people joined the organisation working remotely
rather than experiencing an office-based internship.
We co-chair the DWP'S Access To Work committee.
Education
We have been working closely with partners within the sight loss sector and
beyond to ensure that vision impaired children and young people get the
appropriate support to fulfil their potential. This has included working with

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
providers of careers advice and guidance to raise the issues that vision
impaired young people face and we created the 'What we see, video to better
inform careers advisors of different sight conditions.
Our Student Support Service has now been running for a year in the form of
an information and advice hub designed to support students with vision
impairment living in England. Our aim is to facilitate and enable students from
across the country to nebNork and provide peer support on anything related to
Further or Higher Education. We have a telephone support line, and provide
advocacy and advice to students, their families, and professionals. The online
resources provide information, advice and tips on a range of subjects from
housing. health and wellbeing, Disabled Students Allowance and how to steer
your way through the clearing process.
Safeguarding
New Adults and Children and Young People Safeguarding policies and
procedures have been developed following the successful completion of an
action plan. New training will be delivered to all staff, volunteers and trustees.
Grants programme
Through our regular grants programme we fund a broad range of projects that
support the delivery of positive outcomes for blind and partially sighted people
around our key funding themes across the UK. In the year ending 31 March
2021, we have considered applications for projects that would achieve a
positive impact in at least one of our three stated priority areas of Education,
Employment and Engagement, with an additional area of Collaboration and
Sustainability where we sought to promote positive change to improve the
sustainability of the sight loss sector.
We have also funded research and technology projects that support the key
funding themes set out above.
The Covid 19 crisis which started to emerge during the early part of 2020
meant that many sight loss organisations of all sizes were put at risk of
survival. In response to this, we diverted part of our normal grant-giving
budget for the year into an emergency fund to support sight loss charities
during the pandemic, protecting vital services to blind and partially sighted
people. In April 2020, grants totalling £504,000 were approved to 56
organisations. Funding was used for specific Covid-related projects and for
retention of services threatened by the crisis.
Standard and emergency grants followed the same process. Organisations
submitted an application which was considered by the Grant Management
Committee (comprising the executive leadership team and the Chief
Executive) following due diligence checks undertaken by the partnerships
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Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
team. Decisions were subject to approval by the Trustees, where required,
within the limits set by the Trustees as part of the budgeting process.
A total of 68 grants were awarded through the grants programme in 2020121.
A full list of grants approved is set OLrt below.
Close partners
We continued our formal partnership arrangements with a number of
organisations and have provided grant funding and other support (through
donated services in kind) against agreed objectives. These are independent
charities which have objectives closely aligned with ours and which fulfil vital
roles in the sector.
London Vision works to ensure that blind and partially sighted people living,
working and studying in the capital are an equal part of the London
community.
Visionary is the national membership organisation for local sight loss
charities. They empower local sight organisations to be the best that they
can be.
Metro Blind Sport is a London-based charity, creating fun, sporting
opportunities for blind and partially sighted individuals, regardless of age or
ability
Vision West of England delivers high quality, high impact, local services for
blind and partially sighted people and their families across Bristol, Bath,
South Gloucestershire, Swindon and Wiltshire.
We have formal funding and service agreements with each partner. These set
out agreed objectives against which performance is monitored and reported on
a quarterly basis. All close partners achieved their agreed objectives during
2020121, and in most cases exceeded these despite the challenges presented
by Covid 19.

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Organisations supported during 2020121
Regular grants programme and close partners:
London Vision
Visionary
Metro Sports and Social Club of Vision Impaired People
Sight Support West of England
Blind Veterans UK (research)
Eyesight Cornwall
Visionary (Living with Sight Loss)
Visionary (England Vision Strategy)
UCL Institute of Ophthalmology (Charles Bonnet Syndrome research)
RNIB (Sightline sector project)
Bristol Braille Technology CIC-Commute 360
Vision Norfolk (Eye Clinic Liaison Officer training)
RNIB (working collaboratively toward a Scottish Vision Strategy
conference)
Vl Talk (discretionary grant)
Targeted funding programme:
Technology and Accessibility in Further Education
Vl Awareness Training for Leisure Operators
COVID emergency fund=
ABA Leeds
Alstrom Syndrome UK
Angel Eyes Nl
Barrow & Districts Society for the Blind
BID Services
Blind and Sight Impaired Society
Blind Life in Durham
Blind Veterans UK
Bradbury Fields Services for Blind and Partially Sighted People
British Blind Sport
Bury Society for Blind & Partially Sighted People
Centre of Sign-sight-sound
Childhood Eye Cancer Trust (CHECT)
Coventry Resource Centre for the Blind
Deafblind UK
Dorset Blind Association
Fight Against Blindness
Forth Valley Sensory Centre
Galloway's Society for the Blind
12

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Gateshead & South Tyneside Sight Service
Goalball UK
Grampian Society for the Blind, operating as North East Sensory Services
(NESS)
Henshaws Society for Blind People
IRIS Vision Cheshire
Kirklees Visual Impairment Network
Listening Books
Living Options Devon
Living Paintings
Lochaber Sensory Care
Middlesex Association for the Blind
Moorvision
Mysight York (York Blind & Partially Sighted Society)
Newcastle Vision Support
Northumberland County Blind Association
Nottinghamshire Royal Society for the Blind - My Sight Notts
Out of Sight
Oxfordshire Association for the Blind
Sense Scotland
Sight Advice South Lakes
Sight for Surrey
Sight Support Ryedale
Sightline Vision (North West)
South Lincolnshire Blind Society
Southend Blind Welfare Organisation
Sunderland and County Durham Royal Society for the Blind
Support 4 Sight
Sutton Vision
The Torch Trust for the Blind
The Wilberforce Trust
TripleTapTech
Vision North Somerset
Vista (The Royal Leicester, RLrtland and Wycliffe Society for the Blind)
Walthew House
Wirral Society of the Blind and Partially Sighted
Yorkshire Coast Sight Support
4Sight Vision Support
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Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Sector Collaboration
In addition to supporting the sector through grant giving in response to the
COVID-19 situation. we also participated in the sector-wide response to the
pandemic. Sector collaboration has become more developed as a result of our
joint working during the pandemic, and we will continue to build on this for the
benefit of blind and partially sighted people throughout the UK.
Housing
Whilst the focus of the organisation has moved away from housing, for
historical reasons we continue to provide housing for blind and partially
sighted people to live independently at Pocklington Lodge in west London. The
local authority provide support separately via a contract with Hestia.
Financial Performance
Our total funds are made up of our pemanent endowment, restricted funds
and unrestricted funds.
The net amount spent on our charitable aims in the period, before gains and
losses on investments and before the total return transfer from the permanent
endowment, was £5,165k (2020: £5,988k).
Overall, including net income from the permanent endowment and after gains
and losses on investments in the year, we generated a surplus of £1,771 k
(2020.. £478k deficit).
In detennining the dates at which the initial value of the trust for investment
was determined, the Trustees considered the legal requirements and the
Charity Commission guidance, and they determined that the most appropriate
approach was that the starting date for the assessment should be the dates on
which the original bequest was received by the Charity.
The initial value of the trust for investment was established from historical
records of the value of the receipts of the original bequest to the Charity as
follows:
£'ooo
September 1958
December 1965
517
400
Total
917
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Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
The Trustees have adopted a policy of applying 3.5 % (2020: 3.5 % ) of the
opening value of the permanent endowment to income,. in accordance with the
policy £5,416k (2020". £5,478k) was transferred from the total unapplied return
to income and included in income prior to the adoption of the total return
approach. The Trustees took advice from their then accountants (Smith &
Williamson LLP, Chartered Accountants) in implementing the Total Return
approach.
We monitor the level of unrestricted reserves against the risks identified on our
risk register and the anticipated need for change. As at 31 March 2021, we
held £7,379k (2020: £7,505k) in unrestricted funds, £6k (2020: £6k) in
restricted funds and £161,681 k (2020: £159,784k} in the permanent
endowment with total funds of £169,066k (2020. £167,295k).
Investment Policy
The Charity's investment powers are governed by the Articles of Association,
which permit the funds to be invested in stocks and unit trusts, freehold land
and long leasehold land.
The investment policy currently sets out that we seek to achieve a long term
overall return of CPl+30/o. It recognises that a significant part of the overall
return will be in the fomi of capital appreciation rather than income. Under the
Total Return investment approach we are able to access some of the capital
appreciation from the pemianent endowment to release additional funds for
expenditure on our charitable activities in the future.
The primary purpose of our residential and commercial investment property
portfolio is to generate funds to enable us to meet objectives in the short and
long term. The day-to-day strategy for the portfolio is to maintain and improve
properties to an appropriate market standard where a balance is struck
between maximising income and minimising voids. Opportunities are taken to
refurbish properties particularly when possession is obtained from statutory
tenants and opportunistic sales may be made where there are favourable
market circumstances.
External management of the portfolio is undertaken by a professional property
management company, Tandem.
The Trustees considered the split of investment and, in the short term, will
continue the policy of being overweight in property which has served it so well
historically. The investment policy will be reviewed by the Trustees in the
coming year.
Some of the Charity's investments are in the form of cash deposits, equities
and bonds" as such the Charity is exposed to credit, price and liquidity risks.

Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
The Charity seeks to minimise these risks by using a number of different
banks with a minimum credit rating and investing via a number of listed
investment funds in various territories.
Reserves Policy
Our unrestricted reserves are maintained to provide funds to offset any
unexpected events which may arise, including volatility in the transfers from
the permanent endowment due to changes in the London property market,
and to provide for major planned events including new developments and
research. As at 31" March 2021 free reserve were £7,324k (2020: £7,253k)
The permanent endowment resenies reflect capital growth accumulated prior
to the adoption of the total return approach on 1 April 2016.
Plans for the Future and Achieving our Priorities
We will continue to focus our work around our three key priorities of Education,
Employment and Engagement.
The Education team will enable more vision impaired children and young
people and their families to get the support necessary to participate fully in
society and make a successful transition through all key stages of education.
The national Student Support Service for those aged 16+ will provide
information and guidance through the helpline, our website and social media
and continue to work closely with the Department for Education, Student
Loans Company and Student Finance England to bring about change in policy
and processes which benefit blind and partially sighted students.
We will deliver employment support to blind and partially sighted people
seeking work or already in employment and we will provide support and
funding to other organisations to do the same.
We will continue to deliver our successful intem programme, encouraging
blind and partially sighted people into short term internships where they will be
able to gain valuable skills and experience that can be taken into future
employment.
We will continue to work to improve the accessibility of services across the
public, private, and voluntary sectors and raise awareness of the issues faced
by blind and partially sighted people in their community, through the delivery of
SLCS across the UK. We will be launching a further five SLCS by March 2022.
The Young Voices group will support young vision impaired people to come
together to discuss issues that affect them and have their voices heard.
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Trustees, Annual Report incorporating the Strategic Report
The Public Affairs and Campaigning team will bring together the work of the
SLCS to build a national picture of issues that affect blind and partially sighted
people and campaign and lobby for national changes to take place.
To help monitor the effectiveness and impact of our work we are continuing to
develop our new approach to impact and evaluation to reflect both qualitative
and quantitative measures of perfomiance.
With regard to our funding activities, we will continue to provide grant funding
and work in partnership with other organisations which are building a more
inclusive, creative and sustainable society for blind and partially sighted
people. We will keep our grant funding principles under review to ensure that
they continue to support areas of most need, especially in light of the ongoing
impact of Covid 19 on many blind and partially sighted people and the
organisations supporting them. This may mean continuing with a focus on our
key areas of Engagement, Education, Employment, Collaboration and
Sustainability, and Research" alternatively. stakeholder engagement may
suggest that the funds could be better used to support other work.
We have piloted a new strand of our grant-giving activity with our 'targeted
funding programme,. The aim is to commission external partners to deliver
projects that are essential to our core services, such as research and product
development. We also started to develop a franchise approach to some of our
key seniices, including Employment. This is being further developed during
2021122.
Internally we will be continuing to improve the professional development of our
employees through targeted training and well-designed performance
management systems. We believe this is crucial to our ability to deliver on our
aims and objectives and we will continue to ensure that our people understand
the value of their contribution to the people we serve.
The Trust do not undertake direct fundraising,. no complaints have been made
to the Fundraising Regulator during the year in respect of the Trust.
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Trustees, Annual Report incorporating the Strategic Report
Statement of Trustees, Responsibilities
The Truslees are responsible for preparing the Trustees, Annual Report
incorporating the Strategic Report and the financial statements in accordance
with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each
financial year in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable
law) including FRS 102 "The Financial Reporting Standard applicable in the
UK and Republic of Ireland".
Under company law the Trustees must not approve the financial statements
unless they are satisfied that they give a true and fair view of the state of
affairs of the charitable Company and of the income and expenditure of the
charitable Company for that period.
In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and accounting estimates that are reasonable and
prudent.
state whether applicable UK Accounting Standards have been
followed, subject to any material departures disclosed and explained
in the financial statements. and
prepare the financial statements. on the going concern basis unless it
is inappropriate to presume that the charitable Company will continue
in business.
The Trustees are responsible for keeping adequate accounting records that
are sufficient to show and explain the charitable Company's transactions and
disclose with reasonable accuracy at any time the financial position of the
charitable Company and enable them to ensure that the financial statements
comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable
Company and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate
and financial information included on the charitable Company's website.
Legislation in the United Kingdom governing the preparation and dissemination
of financial statements may differ from legislation in other jurisdictions.
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Thomas Pocklington Trust
Trustees, Annual Report incorporating the Strategic Report
Disclosure of Information to Auditor
Insofar as the Trustees are aware at the time of approving our Trustees,
Annual Report:
there is no relevant information, being information needed by the
auditor in connection with preparing their report, of which the
charitable Company's auditor is unaware, and
the Trustees, having made enquiries of fellow directors and the
charitable Company's auditor that they ought to have individually
taken, have each taken all steps that they are obliged to take as a
director in order to make themselves aware of any relevant audit
information and to establish that the auditor is aware of that
information.
To read more about our work please refer to our website WWN.
trust.or
.uk.
ocklin
ton-
Approved by the Directors on
22 September 2021
Signed on behalf of the Directors by:
Mervyn Williamson, Chairman
Registered Office:
3 Queen Square
London
WC1N 3AR

Thomas Pocklington Trust
Year ended 31 March 2021
Independent auditor's report to the members of Thomas Pocklington
Trust
Opinion
We have audited the financial statements of Thomas Pocklington Trust (the
'charity') for the year ended 31 March 2021 which comprise the Statement of
Financial Activities. the Statement of Financial Position, Statement of Cash
Flows and notes to the financial statements, including a summary of significant
accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards,
including FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charity's affairs as at 31
March 2021 and of its income and expenditure for the year then ended.,
have been properly prepared in accordance with United Kingdom
Generally Accepted Accounting Practice., and
have been prepared in accordance with the requirements of the
Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing
(UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards
are further described in the Audttor's responsibilities for the audit of the financial
statements section of our report. We are independent of the charity in
accordance with the ethical requirements that are relevant to our audit of the
financial statements in the UK, including the FRC'S Ethical Standard and we
have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use
of the going concern basis of accounting in the preparation of the financial
statements is appropriate.
Based on the work we have performed, we have not identified any material
uncertainties relating to events or conditions that, individually or collectively,
may cast significant doubt on the charity's ability to continue as a going concern
for a period of at least twelve months from when the financial statements are
authorised for issue.
20

Thomas Pocklington Trust
Year ended 31 March 2021
Our responsibilities and the responsibilities of the trustees with respect to going
concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report,
other than the financial statements and our auditor's report thereon. The
trustees are responsible for the other information. Our opinion on the financial
statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report. we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to
read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our
knowledge obtained in the course of the audit, or otherwise appears to be
materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine whether there is a
material misstatement in the financial statements or a material misstatement of
the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required
to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Annual report which includes the
Strategic Report and the Directors, Report prepared for the purposes of
company law, for the financial year for which the financial statements are
prepared is consistent with the financial statements. and
the Strategic Report and the Directors, Report included within the
Trustees, Annual report has been prepared in accordance with applicable
legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the charity and its environment
obtained in the course of the audit, we have not identified material
misstatements in the Strategic Report or the Directors, Report included within
the Trustees, Annual report.
We have nothing to report in respect of the following matters in relation to which
the Companies Act 2006 requires us to report to you if, in our opinion:
adequate and proper accounting records have not been kept, or returns
adequate for our audit have not been received from branches not visited
by us,. or
21

Thomas Pocklington Trust
Year ended 31 March 2021
the financial statements are not in agreement with the accounting records
and returns,. or
certain disclosures of trustees, remuneration specified by law are not
made. or
we have not received all the information and explanations we require for
our audit.
Responsibilities of Trustees
As explained more fully in the trustees. responsibilities statement set out on
pages 17-18, the trustees (who are also the directors of the charitable company
for the purposes of company law) are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view,
and for such internal control as the trustees determine is necessary to enable
the preparation of financial statements that are fr￿ from material misstatement,
whether due to fraud or eiror.
In preparing the financial statements, the trustees are responsible for assessing
the charity's ability to continue as a going concern, disclosing, as applicable,
matters related to going cOn￿M and using the going concern basis of
accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement, whether due to
fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that
an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and
are considered material if, individually or in the aggregate, they could
reasonably be expected to inftuence the economic decisions of users taken on
the basis of the financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and
regulations. We design procedures in line with our responsibilities, outlined
above, to detect material misstatements in respect of irregularities, including
fraud. Based on our understanding of the charity and its activities, we identified
that the principal risks of non-compliance with laws and regulations related to
the Charities Act 2011, UK tax legislation, pensions legislation, employment
regulation and health and safety regulation. anti-bribery, corruption and fraud,
money laundering, non-compliance with implementation of government support
schemes relating to COVID-19, and we considered the extent to which non-
compliance might have a material effect on the financial statements. We also
considered those laws and regulations that have a direct impact on the
22

Thomas Pocklington Trust
Year ended 31 March 2021
preparation of the financial statements, such as the Companies Act 2006 and
the Charities Statement of Recommended Practice.
We evaluated the trustees, and management's incentives and opportunities for
fraudulent manipulation of the financial statements (including the risk of override
of controls) and determined that the principal risks were related to posting
manual journal entries to manipulate financial performance, management bias
through judgements and assumptions in significant accounting estimates, in
particular in relation to use of restricted funds, and significant one-off or unusual
transactions.
Our audit procedures were designed to respond to those identified risks,
including non-complian￿ with laws and regulations (irregularities) and fraud
that are material to the financial statements. Our audit prO￿dureS included but
were not limited to:
Discussing with the trustees and management their policies and procedures
regarding compliance with laws and regulations"
Communicating identified laws and regulations throughout our engagement
team and remaining alert to any indications of non-compliance throughout
our audit. and
Considering the risk of acts by the charity which were contrary to applicable
laws and regulations, including fraud.
Our audit procedures in relation to fraud included but were not limited to:
Making enquiries of the trustees and management on whether they had
knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the intemal controls established to mitigate
risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by
performing journal entry testing.
There are inherent limitations in the audit procedures described above and the
primary responsibility for the prevention and detection of irregularities including
fraud rests with management. As with any audit, there remained a risk of non-
detection of irregularities, as these may involve collusion, forgery, intentional
omissions, misrepresentations or the override of internal controls.
A further description of our responsibilities for the audit of the financial
statements is located on the Financial Reporting Council's website at
www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
auditor's report.
Use of the audit report
This report is made solely to the charity's members as a body in accordan
with Chapter 3 of Part 16 of the Companies Act 2006. Our audtt work has been
23

Thomas Pocklington Trust
Year ended 31 March 2021
undertaken so that we might state to the charity's members those matters we
are required to state to them in an auditor's report and for no other purpose. To
the fullest extent permitted by law, we do not accept or assume responsibility
to anyone other than the charity and the charity's members as a body for our
audit work, for this report, or for the opinions we have formed.
Signed:
Nicola Wakefield (Senior Statutory Auditor)
for and on behalf of Mazars LLP
Chartered Accountants and Statutory Auditor
6 Sutton Plaza, Sutton Court Road, Sutton, Surrey SM14FS
Date: 13 October 2021
24

Thomas Pocklington Trust
ststement of Financial Activities for the year ended 31 March 2021
Unrestsicted Restricted
funds
funds
Permanent
endowment
Total
funds
Total
funds
Notss
2021
2021
2021
2021
2020
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Income and endowments
from:
Donations and other
activities
158
158
37
Charitable activities
451
451
447
Investments
113
4,477
(5,416)
{939)
4,590
18
4,760
other
25
5.434
6.156
Total income
5.217
5,244
Expenditure on:
Raising funds
(1.353) {1,348) (1,980)
Charitable activities
Understanding needs
Meeting needs
Total
(995)
(4,170)
{5,165)
(995)
(767)
{4,170) (5,221)
{5,165) (5,988)
Actuarial valuation of
defined benefit pension
scheme
(1.122)
(1,122)
1.141
other expendilure
Total expenditure
(6,282)
{1.353) (7,635) (6,827)
Profit on disposal of asset
Net gain l (loss) on
investments
1,142
4,189
4,189
(37)
Net (expenditure) l income
Reconciliation of funds:
(126)
1.897
1,771
(478)
Total funds brought forward
Total funds carried forward
7,505
7,379
159.784
161,681
167,295 167,773
169,066 167,295
25

Thomas Pocklington Trust
Statement of Financial Position as at 31 March 2021
Notes
2021
2020
£'ooo
£'ooo
Fixed assets:
Property, plant and equipment
Investments
18
5,055
S,276
19 164,900
158,761
169,955 164,037
Current assets:
Debtors
20
530
345
Cash at bank and in hand
3,542
7.123
4,072
7,468
(1.341)
(4,263)
2,731
6,205
172,686 170.242
13,620)
(2.947)
169,066
167.295
Creditors- amounts falling due within one year
Net current assets
21
Total assets less current liabilities
Creditors - amounts falling due after more than one year
Net assets
22
Represented by:
Unrestricted funds
24
7,379
7,505
Restricted funds
24
Permanent endowment funds
24 161,681
169,066
159,784
167,295
Total funds
These accounts were approved by the Trustees on 22 September 2021 and were signed
on their behalf by..
Mervyn Williamson
Director
Company registered number.. 05359336
26

Thomas Pocklington Trust
Statement of Cash Flows for the year ended 31 March 2021
2021
£'ooo
2021
£'ooo
2020
£'ooo
2020
£'ooo
Reconciliation of net income l (expenditure) to
net cash used in operating activities
Net income l {expenditure), including
dividends and interest
Adjustments for:
Depreciation
Net (gain) I loss on investments
Gain on disposal of current asset investment
Movement in debtors
Movement in creditors due within less than
one year
Movement in creditors falling due after more
than one year
1,771
(478)
230
(4,189)
122
37
(1,142)
423
(185)
78
(211)
(1,445)
Net cash used in operating activities
(1,449)
(2,694)
Cash flows from investing activities
Addition of property, plant and equipment
Disposal of property plant and equipment
Addition of investment properties
Acquisition of equity investments
Disposal of current asset investments
(14}
(27)
(1,787)
(236)
(612}
(3,461)
4.550
Net cash (used in) I provided by investing
activities
Cash flows from financing activities
Repayment of loan
{2,032)
450
(173)
(154)
Net Cash (Ouffiow)
Cash and cash equivalents
At 1 April 2020
At 31 March 2021
{3,654)
(2,398)
7,233
3.579
9,631
7,233
Cash and cash equivalents
Cash at bank. held by investment managers
Other cash at bank and in hand
37
3,542
3,579
110
7,123
7,233
27

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021
Charity information
Thomas Pocklington Trust ('the Trust.) is a private company limited by
guarantee and is incorporated in England,. the registered off ice address is 3
Queen Square, London, WC1 N 3AR and the registered number is 05359336.
The company is also a registered charity number 1113729.
In the event of the Company being wound up, the liability in respect of the
guarantee is limited to £10 per member. The number of members as at 31
March 2021 was 2 (2020 - 2).
Details of the principal activity of the company are given in the accompanying
narrative reporting.
Accounting policies
Basis of accounting
The accounts have been prepared in accordance WEth The Financial Reporting
Standard applicable in the UK and Republic of Ireland ('FRS 102"),
Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to Charities preparing their accounts in accordance with FRS 102
(effective 1 January 2019) (the SORP) and the Companies Act 2006.
The Trust is a public benefit entity as defined by FRS 102.
The accounts have been prepared under the historical cost convention as
modified by the revaluation of certain assets in accordan￿ with the Trust's
accounting policies.
Uniting direction
The accounts include the results of both the Thomas Pocklington Trust Charity
and the Permanent Endowment Fund of the Gift of Thomas Pocklington, which
are combined for reporting purposes under the uniting direction issued by the
Charity Commission on 2 May 2006.
Going concern
The accounts have been prepared on the going concern basis as, after making
enquiries, the Trustees have reasonable assurance that the Trust has adequate
resources to continue in operational existence for the foreseeable future. The
Trustees have reviewed detailed cash flow projections to 30 September 2022
and have agreed detailed budgets for the year ended 31 March 2022. Both
sources of income and types of expenditure have been reviewed. The Trustees
have also considered the charity's working capital and capital expenditure
28

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
requirements. As a result of the foregoing the Trustees are satisfied that it is
appropriate to prepare the accounts on a going concern basis.
Income
All income is included in Ihe Statement of Financial Activities when the charity
has entitlement to the funds, any performance conditions have been met, it is
probable that the income will be received and the amount can be measured
rel iably.
The following specific policies apply to categories of income:
Voluntary income
All voluntary income is recognised as soon as it is re￿ived. Gifts in kind are
stated at Trustees, valuation.
Investment income
Dividends, bank interest and rent are recognised on a receivable basis.
Fees, rent and other income
All income from rents for supported housing is recognised as soon as it
becomes due to the Charity. Any lease incentives are recognised on a
straight-line basis over the non-cancellable lease term.
Grants receivable
Grants are accounted for using the perfonmance model.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified
under headings that aggregate all costs relating to the category.
Raising funds
Raising funds comprises expenditure incurred in managing, maintaining and
repairing investment properties along with investment management fees and
staff costs, wholly or mainly attributable support costs and apportionment of
general overheads.
Charitable activities
Costs of charitable activities comprise all costs identified as wholly or mainly
attributable to achieving the charitable objectives of the Charity, including the
costs of disseminating information in support of charitable activities and
governance costs. These costs include staff costs, wholly or mainly
attributable support costs and an apportionment of general overheads.
29

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
Research and development costs
Research and development costs are accounted for on an accruals basis and
are recognised at the point an obligation has been established.
Grant expenditure
Grants provided by the Trust to other Charities and organisations are
recognised when a constructive obligation is established and any performance
conditions have been rnet by the recipient.
Employee benefits
The Trust provides a range of benefrts to employees, including paid holiday
arrangements and defined benefit and defined contribution pension plans.
These are recognised as follows"
Short term benefits
Short term benefits, including termination benefits, holiday pay and other
similar non-monetary benefrts, are recognised as an expense in the period
in which the service is re￿ived.
Defined contribution pension plan
The Trust operates a defined contribution plan, whereby it pays fixed
contributions into a separate entity. Once the contributions have been paid
the Trust has no further payment obligations. The contributions are
recognised as an expense in the period to which they relate. Amounts not
paid are shown in accruals in the Statement of Financial Position. The
assets of the plan are held separately from the Trust in independently
administered funds.
Defined benefit pension plan
The Trust participates in the Social Housing Pension Scheme (SHPS), a
multiemployer defined benefit plan. The Scheme is funded and is
contracted out of the State scheme. The Trust has recognised its share of
the Plan's assets and liabilities and any change in the liability so recognised
is recorded as a cost of charitable activities in the Statement of Financial
Activities.
Operating lease payments
Rentals payable under operating leases are charged to Statement of Financial
Activities on a straight-line basis over the non-cancellable lease term. Benefits
30

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
Accounting policies (continued)
received and re￿1vable as an incentive to enter into an operating lease are
also spread on a straight-line basis over the non-cancellable lease term.
Value added tax
Value added tax is not recoverable by the Charity, and as such is included in
the relevant costs in the Statement of Financial Activities.
Taxation
No provision has been made for corporation tax or deferred tax as the entity is
a registered charity and is therefore exempt from corporation tax on its
charitable activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and cash at bank, including
cash held by the Trust's investment managers.
Property plant and equipment
Previously freehold functional properties were stated at open market value on
an existing use basis and depreciation was provided at 1 % per annum. On
transition to FRS 102 on 1 April 2014, the Charity decided not to continue its
previous policy of revaluation and instead elected to use the previous
valuation as at the transition date as the deemed cost.
other fixed assets are stated at cost less depreciation and impairments.
Depreciation is charged on a straight-line basis over the expected economic
lives of the assets at the following annual rates:
Freehold buildings
Furniture and equipment
Motor vehicles
Leasehold improvements
Freehold land is not depreciated
1 % per annum
25 % per annum
25 % per annum
over the duration of the lease
At each balance sheet date, property, plant and equipment is assessed to
determine whether there is an indication that the asset may be impaired. If
there is such an indication, the recoverable amount of the asset is compared
to the carrying amount of the asset. The recoverable amount is the higher of
31

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
the value in use or the fair value of the property. If the carrying value is
greater than the value in use, an impairment provision equal to the excess is
recognised as an expense in the Statement of Financial Activities.
When an impairment loss is subsequently reversed, the carrying amount of
the asset is increased to the revised estimate of its recoverable amount, but
only to the extent that the revised carrying amount does not exceed the
carrying amount that would have been determined (net of depreciation) had
no impairment loss been recognised in prior periods. A reversal of an
impairment loss is recognised in expenditure in the Statement of Financial
Activities.
Investments
Listed investments
Investments in listed securities are stated at their fair value, which is derived
from quoted market prices. Gains or losses arising on revaluation are
credited or charged to the fund to which the investments belong.
Investment properties
Investment properties are stated at their fair value taking account of existing
tenancies.
No depreciation is provided on these properties.
Works to properties are capitalised when the work is expected to increase
the value of the propety. The cost of other work is treated as a repair cost
and is expensed in the Statement of Financial Activity.
Financial instruments
Financial assets and financial liabilities are recognised in the Statement of
Financial Position when the Trust becomes a party to the contractual
provisions of the instrument. The Trust has chosen to adopt Sections 11 and
12 of FRS 102 in respect of financial instruments.
Financial instruments are classified and accounted for, according to the
substance of the contractual arrangement, as either financial assets or
financial liabilities.
Trade and other similar debtors and creditors. including rent arrears and rent
paid in advance, are classified as basic financial instruments and measured at
initial recognrtion at transaction price. Such debtors and creditors are
subsequently measured at amortised cost using the effective interest rate
32

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continuedl
method, save that amounts expected to be settled within 12 months are not
discounted. An impaimient provision is established when there is objective
evidence that the Trust will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and
are initially recognised at their transaction price and subsequently at amortised
cost.
Interest bearing bank and other loans which meet the criteria to be classified
as basic financial instruments are initially recorded at the present value of
cash payable to the counter-party, which is ordinarily equal to the proceeds
received net of direct issue costs. These liabilities are subsequently measured
at amortised cost, using the effective interest rate method.
Investments in equity instruments are classified as basic and are stated at
their fair value.
Key sources of estimation uncertainty and judgements
The preparation of accounts in conformity with generally ac￿pted accounting
practice requires management to make judgements and estimates that affect
the reported amounts of assets and liabilities, as well as the disclosure of
contingent assets and liabilities at the statement of fi'nancial position date and
the reported amounts of revenues and expenses during the reporting period.
Investment property valuations
Investment properties are recognised at their fair value, which is estimated
based on a combination of expected future net income from the properties and
market yield rates, and by reference to recent comparable market
transactions.
Useful lives
Depreciation of assets is calculated based on the cost and the estimated
useful lives of the assets.
Fund Accounting
Permanent Endowment
The Charity was established by a Charity Commission Scheme incorporating
the terms of the bequest from Thomas Pocklington, who died in 1935. He left
the majority of his estate to provide for the care, welfare and instruction of
people who are blind or partially sighted and directed that the bequest should
be used as permanent capital to support these activities. As stipulated in
Thomas Pocklington's will, the assets comprising the bequest were transferred
33

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
to the Charity in 1958 and formed the basis of its permanent endowment. The
assets are invested in investment property, securities or, with Charity
Commission consent, in properties occupied by the Trust's service users.
As from 31 March 2016 the charity has adopted the Total Return approach to
the Endowment, in recognition of the fact that investment return from the
Endowment is largely in the form of capital growth. The Trustees have
determined that an element of this growth should be applied to charitable
activities, to ensure a balance between funds made available for current and
future beneficiaries.
Restricted Funds
The Trustees have established an amenity fund at the Centre which it operates
to which are credited any gifts or legacies given for the benefit of the residents
and tenants. The amenity fund is accounted for separately. The restricted fund
is held in the form of money on deposrt or in current accounts.
Other income which is restricted as to its use is allocated to a separate fund
and only expenditure within the restriction is charged to the fund.
General Funds
The remainder of the Charity's funds are unrestricted funds, which provides the
Charity free reserves and monies available for general purposes and charitable
activities.
Donations and other activities
2021
£'ooo
2020
£'ooo
Unrestricted Funds
Other income
Total
158
158
37
37

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 {continued)
6. Income from charitable activities
2021
£'ooo
2020
£'ooo
Unrestricted Funds
Supported housing
Service level agreements
other income
451
403
30
14
447
451
Income from charitable activities artses from the Meeting Needs charitable activity.
Investment income
2021
£'ooo
2020
£'ooo
Permanent Endowment Funds
Gross rents receivable - UK properties
Bank interests, and dividends and interest on
listed investments
4.477
4,583
111
4,694
4,477
Unrestricted Funds
Barik interests, and dividends and interest on
listed investments
113
113
66
66
Total
4,590
4,760
Analysis of income by source
2021
£'ooo
2020
£'ooo
Provision of services
Rentals
Grants
Legacy
Dividends and interest
Total
451
4.477
18
158
113
5.217
483
4,584
177
5,244
35

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
Leases
Commercial properties are let under leases with a typical duration of ten years. The
rents are subject to rent reviews every five years, when they are increased to current
market rent. In most cases the tenancies are subject to the provisions of the
Landlord and Tenants Acts, which give the tenants renewal rights or the right to
receive compensation if the tenancy is not renewed.
The residential tenancies are generalw assured shorthold tenancies of a fixed rent
and duration (typically one year). The tenanls have no rights once the tenancies
have expired. No tenant has the right to acquire the leased property.
10. Raising Funds
2021
£'ooo
2020
£'ooo
Permanent endowment fund
Investment property costs
Staff costs (including recruitment and training)
Office costs
Investment costs
1,241
68
39
1,767
56
42
110
1,970
1.353
Unrestricted funds
Investment management costs
10
10
1.980
Total
1,348
11. Charitable activities
Direct
costs
£'ooo
Grants
Support
costs
£'ooo
Total
£'ooo
£'ooo
Year ended 31 March 2021
Understanding needs
Meeting needs
Total
828
1,564
2,392
102
1.803
1,905
187
681
868
1,117
4,048
5,165
Year ended 31 March 2020
Understanding needs
Meeting needs
Totsl
579
2,494
3,073
87
2,038
2,125
101
689
790
767
5,221
5,988
Of the 2021 expenditure no amounts (2020: £nil) relate to the permanent endowment
and no amounts (2020: nil) relate to restricted funds.
36

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 {continued}
12. Grants
2021
£'ooo
2020
£'ooo
Understanding needs:
Research grants
102
87
Meeting needs:
Regular grants programme and close
partners:
London Vision
Visionary
Metro Blind Sports
Wiltshire Sight
Focus
RNIB
Sense
Birmingham Vision
South East London Vision
East London Vision
Henshaws Society for Blind People
MyBnk
Devon in Sight
4Sight Vision Support
Lancashire and Cumbria Regional
Development Programme
Macular Society
Other organisations and programmes
<£1 Ok
Targeted funding programme:
Technology and Accessibility in
Further Education
Vl Awareness Training for Leisure
Operators
COVID emergency fund:
4Sight Vision Support
ABA Leeds
Alstrom Syndrome UK
Barrow & Districts Society for the Blind
Blind and Sight Impaired Society
Bradbury Fields services foi Blind and
Partially Sighted People
British Blind Sport
Childhood Eye Can￿r Trust (CHECT)
Coventry Resource Centre for the
Blind
Deafblind UK
Dorset Blind Association
429
284
145
200
70
59
38
17
719
401
165
200
35
13
202
68
33
61
40
24
20
19
10
20
22
20
15
10
10
10
10
37

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
2021
£'ooo
2020
£'ooo
COVID emergency fund (continued)
Forth Valley Sensory Centre
Galloway's Society for the Blind
Gateshead & South Tyneside Sight
Service
Grampian Society for the Blind.
operating as North East Sensory
Setvices (NESSI
Henshawg Society for Blind People
IRIS Vision Cheshire
Listening Books
Living Options Devon
Living Paintings
Mysight York (York Blind & Partially
Sighted Society)
Newcastle Vision Support
Northumberland County Blind
Associaton
Nottinghamshire Royal Society for the
Blind - My Sight Notts
Oxfordshire Association for the Blind
Sense Scotland
Sight Advice South Lakes
Sight for Surrey
Sight Support Ryedale
South Lincolnshire Blind Society
Southend Blind Welfare Organisation
Sunderland and County Durham Royal
Society for the Blind
Support 4 Sight
Sutton Vision
The Torch Trust for the Blind
The Wilberforce Trust
Vista (The Royal Leucester, Rutland
and Wycliffe Society for the Blind)
Walthew House
Yorkshire Coast Sight Support
BID Services
Vision North Somerset
Middlesex Association for the Blind
Lochaber Sensory Care
Sightline Vision (North West) Limtted
Blind Veterans UK
Kirklees Visual Impairment Network
Angel Eyes Nl
Wirral Society of the Blind and Partiall
Sighted
Bury Society for Blind & Partially
Sighted People
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
io
10
10
10
10
10
10
10
10
10
38

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
2021
£'ooo
2020
£'ooo
COVID emergency fund (continued)
Moorvision
Blind Life in Durham
Out of Sight
TripleTapTech
Centre of Sign-sight-sound
Total
1.905
2,125
The grants under Understanding Needs relate to research into how to prevent
avoidable sight loss and how to provide the most effective support to alleviate sight
loss. At the period end, the research commitrnents liability in the Statement of
Financial Position amounted to £gOk (2020.. £29k). The grants under Meeting Needs
are to support local, regional and national setvice provisions for vision impaired
individuals and excludes the value of donated se[Vi￿s.
13. Support costs
2021
£'ooo
2020
£'ooo
Finance
Human resources
Office services
Strategy and communications
Governance costs {note 14)
Total
158
110
423
162
65
918
220
103
391
81
45
840
Allocated to=
Charitable activities
Investment support costs
Total
868
50
918
790
50
840
Support costs are allocated to investrnent costs and charitable activities based on a
combination of the cost in each area (excluding direct investment costs) and estimates
of the time spent by support staff members on specific charitable activities. Payments
made under operating leases included above were £186k (2020 - £186k).
39

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
14. Governance costs
2021
£'ooo
2020
£'ooo
Unrestricted funds
External auditorfs fees
Other professional and legal fees
Trustees, expenses {note 15)
39
26
30
65
45
Endowment funds
Property valuation fees
12
10
Total
77
55
15. Expenses paid to Trustees
2021
£'ooo
2020
£'ooo
Travel and accommodation expenses paid to
nil (2020: three) Trustees
No Trustee received any remuneration (2020.. £nil).
16. Senior Staff
The number of employees receiving emoluments above £60,000 were:
2021
Number
2020
Number
£60,000 - £70,000
£70,001- £80,000
£80,001- £90,000
£90,001- £100,000
£100.001 £120,000
£120,001- £130,000
Total
The key management personnel of the charity comprise the Trustees and the Chief
Executive. The total employee benefits of the key management personnel of the Trust
were £120k (2020. £121k).
40

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
17. Officers and employees
Headcount
Headcount
Average number of persons employed by the
Charity was..
65
90
2021
£'ooo
2020
£'ooo
The costs incurred in respect of employees were
as follows=
Salaries
Redundancy and ex-gratia payments
National Insurance
Pension contributions
Recurring defined contribution expenses
IncreasellDecrease) in past Servi￿ cost
provision re defined benefit scheme (note 27)
Total
2,380
131
256
3,097
426
343
122
1,274
1,101
3.990
1,114
4,026
The redundancy and ex-gratia costs were paid from the Charity's accumulated
reserves and related to enhanced statutory redundancy costs. No amounts were
outstanding at the year end.
41

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
18. Property, plant and equipment
Previousty freehold functional properties were stated at open market value on an
existing use basis and depreciation was provided at 1 % per annum. On transition to
FRS 102 on 1 April 2014, the Charity decided not to continue its previous policy of
revaluation and instead elected to use the previous valuation as at the transition date
as the deemed cost.
Subsequent depreciation is based on the deemed cost of each property at the
transition date and its remaining useful life.
Furniture,
equipment &
Freehold land
leasehold
& buildings improvements
£'ooo
£'ooo
Totsl
£'ooo
Cost
At 1 April 2020
Additiorls
Disposals
At 31 March 2021
5,249
14
495
5,744
14
(5>
5,753
(5)
490
5.263
Depreciation
At 1 April 2020
Charge
Disposals
At 31 March 2021
214
40
254
195
(5)
444
468
235
(5)
698
254
Net l)ook value at 31 March 2021
5,009
46
5.055
Net book value at 31 March 2020
5.034
241
5,276
Historic cost at
31 March 2021
2,894
446
3.340
Historic cost at
31 March 2020
2.880
451
3.331
42

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
19. Fixed asset investments
UK
investment
Listed
properties investments
£'ooo
£'ooo
Total funds
Cash
£'ooo
£'ooo
At 1 April 2020
Additions
Disposals
(LossllGain on
revaluation
Market value at 31
March 2021
141,987
1.787
16.664
532
(296)
110
158,761
2,319
(369)
(73)
(1,834)
6,023
4.189
141,940
22.922
37
164,900
Historic c05t at 31
March 2021
15.643
16,615
37
32,295
Historic cost at 31 March
2020
13,856
16,379
110
30.345
All listed investments relate to equities.
The following individual holdings exceed 5 % of the listed investment portfolio
SARASIN RESPONSIBLE GLOBAL EQUITY FUND £9.7m, 42 %
SARASIN RESPONSIBLE GLOBAL EQUITY CLASS I (£9.7m, 420/0
SARASIN INCOME AND RESERVES FUND CLASS A (£3.2 140h)
43

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
20. Debtors
2021
£'ooo
2020
£'ooo
Trade debtors
Accrued income
Other debtors
Prepayments
Total
251
152
173
13
16
143
345
125
530
21. Creditors: amounts falling due within one year
2021
£'ooo
175
183
218
71
23
90
312
269
1,341
2020
£'ooo
173
75
258
60
58
Bank loan
Trade creditors
Deferred income
Other taxes and social securty
Other creditors
Research commttments
Accruals
Pension liability (note 27)
Total
364
286
1,263
The bank loan is secured against two properties.
22. Creditors: amounts falling due after more than one year
2021
£'ooo
2,165
1,455
3,620
2020
£'ooo
2,340
607
2,947
Bank loan
Pension liability (note 27)
Total
The bank loan, which is secured against two properties and bears interest at a rate of
1 % above the bank base rate, is repayable by monthly instalments as follows..
2021
£'ooo
175
176
541
1,448
2,340
2020
£'ooo
173
175
535
Within 1 year
Within 1 to 2 years
Within 2 to 5 years
After more than 5 years
Total
2,513

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
23. Financial instruments
2021
£'ooo
2020
£'ooo
Financial assets
Cash at bank and in hand
Financial assets measured at fair value through
profit and loss
Financial instruments that are debt instruments
measured at amortised cost
Total
3,542
7,123
22,959
16,774
405
26.906
202
24,099
Financial liabilities
Financial liabilities measured at amortised cost
4,672
3,893
Financial assets measured at fair value through profit and loss comprise listed
investments and cash investments.
Financial assets that are debt instruments measured at amortised cost comprise trade
debtors, other debtors and accrued income.
Financial liabilifies measured at amortised cost comprise trade creditors. other creditors
and accruals.
45

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
24. Analysis of funds
Permanent
endowment
£'ooo
Restrictsd
funds
£'ooo
restricted
funds
£'ooo
At 31 March 2021
Total funds
£'ooo
Property, plant and
equipment
Investments
Debtors
Cash at bank and in
hand
Creditors due within
one year
Creditors due after
more than one year
5,000
159,020
55
5,880
530
5,055
164,900
530
3,536
3,542
(174)
(1,167)
(1,341)
{2.165)
(1,455)
(3,620)
161,681
7,379
169,066
At 31 March 2020
Property, plant and
equipment
Investments
Debtors
Cash at bank and in
hand
Creditors due within
one year
Credttors due after
more than one year
5,024
157,274
252
1,487
345
5,276
158,761
345
7,117
7,123
(174)
(1,089)
(1,263)
(2,340)
{607)
(2,947)
159.784
7.505
167,295
Reserves arising from revaluations included in the above figures are as follows..
2021
£'ooo
2020
£'ooo
As at 1 April 2020
Revaluations in the yeai
As at 31 March 2021
142,708
4.189
146,897
142,745
37
142,708
The transfer to realised funds relates to galns arising on disposals of revalued
amounts.
46

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
25. Permanent endowment
On 31 March 2016, by way of a resolution and made in accordance with the Charities
(Total Return) Regulations 2013, the Trustees adopted the total retum approach to
investments. At this date, the total fund was analysed between the trust for investment,
being the estimated value of the original gift to the Trust, and the unapplied total return,
being the balance of the fund as shown below.
Subsequently, the investment income is allocated to the permanent endowment and the
unapplied total return applied to income in the year is applied in accordance with the
Trustees, policy. This is as explained in more detail in the Trustees, Annual Report and is
permitted in accordance with the regulations.
Unapplied
Total
Retum
£'ooo
Trust for
Investment
£'ooo
Total
Endowment
£'ooo
At l April 2020
Gift component of the permanent
endowment
Unapplied total retum
Total
17.888
17,888
141,896
159.784
141,896
141,896
17,888
Movements on 31 March 2021
Investment return: rentals. dividends
and interest
Investment retum: realised and
unrealised gains
Less.. Other expenditure
4.477
4,477
4,189
1,353
7,313
4,189
1,353
7,313
Unapplied total return allocated to
income in the year
{5,416)
(5,416)
Net movements in the year
1,897
1,897
At 31 March 2021
Gift component of the pemianent
endowment
Unapplied total retum
Totsl
17.888
17,888
143,793
161,681
143,793
143,793
17,888
47

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
26. Other reserves
The permanent endowment fund represents the current value of the original
gift of Thomas Pocklington, less amounts transferred to the unrestricted fund
as explained in note 25.
The restricted funds represent the unexpended balance of the funds which
have been received for specific purposes.
The unrestricted fund represents the accumulated surpluses and gains of the
charity not otherwise reported in other funds.
27. Pension Scheme
Social Housing Pension Scheme
Thomas Pocklington Trust participates in the scheme, a multi*mployer
scheme which provides benefits to some 500 non-associated employers. The
scheme is a defined benefit scheme in the UK. Previously, it was not possible
for the company to obtain sufficient information to enable it to account for the
scheme as a defined benefit scheme. this is now not the case.
The scheme is subject to the funding legislation outlined in the Pensions Act
2004 which came into force on 30 December 2005. This, together with
documents issued by the Pensions Regulator and Technical Actuarial
Standards issued by the Financial Reporting Council, set out the framework
for funding defined benefit occupational pension schemes in the UK.
The scheme is classified as a 'last-man standing arrangement,. Therefore, the
company is potentially liable for other participating employers, obligations if
those employers are unable to meet their share of the scheme deficit following
withdrawal from the scheme. Participating employers are legally required to
meet their share of the scheme deficit on an annuity purchase basis on
withdrawal from the scheme.
The recent actuarial valuation of the scheme showed assets of £8.445m,
liabilities of £10.153m and a deficit of £1.708m. The deficit is provided for in
the accounts.
48

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
27. Pension Scheme (continued)
Present values of defined benefit obligation, fair value of assets and defined benefit
asset (liability)
31 March 2021
£'ooo
31 March 2020
£'ooo
Fair value of plan assets
Present value of defined benefit obligation
Surplus (deficit) in plan
Defined benefit asset Iliability to be
r8cognised)
8,445
10,153
(1,708)
(1,708)
7,574
8,429
(855>
(855
R8conciliation of opening and closing balances of the defined beneflt obligation
31 March 2021
£'ooo
Defined benefit obligation at start of period
Current service cost
Expenses
Interest expense
Actuarial losses (gains) due to scheme experience
Actuarial losses (gains) due to changes in demographic
assumptions
Actuarial losses (gains) due to changes in financial
assumptions
Benefits paid and expenses
8,429
14
199
(52)
39
1,780
256
Defined benefit obligation at end of period
10,153
49

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
27. Pension Scheme (continued)
Reconciliation of opening and closing balances of the fair value of plan assets
31 March 2021
£'ooo
Fair value of plan assets at start of period
Interest income
Experience on plan assets (excluding amounts included in
interest income) gain (loss)
Contributions by the employer
Contributions by plan participants
Benefits paid and expenses
7,574
182
683
262
(256)
Fair value of plan assets at end of period
8,445
Defined benefit costs recognised in statement of financlal activities (SOFA)
Period from 31
March 2020 to 31
March 2021
£'ooo
Current seniice cost
Expenses
Net interest expense
14
17
Defined benefit costs recognised in SOFA
31
50

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
27. Pension Scheme (continued)
Defined benefit costs recognised in other comprehensive income
Period ended 31
March 2021
£'ooo
Experience on plan assets (excluding amounts included in
net interest cost) gain (loss)
Experience gains and losses arising on the plan liabilities -
gain (loss)
Effects of changes in the demographic assumptions
underlying the present value of the defined benefrt
obligation - gain (loss)
Effects of changes in the financial assumptions underlying
the present value of the defined benefit obligation - gain
(loss)
Total actuarial gains and losses (before restriction due to
some of the surplus not being recognisable) - gain (loss)
Total amount recognised in other comprehensive income
gain {loss)
683
52
(39)
(1,780)
(1,084)
(1,084)
Assets
31 March 2021
£'ooo
31 March 2020
£'ooo
Global Equity
Absolute Return
Distressed Opportunities
Credit Relative Value
Alternative Risk Premia
Fund of Hedge Funds
Emerging Markets Debt
Risk Sharing
Insurance - Linked Securities
Property
Infrastructure
Private Debt
Opportunistic Illiquid Credit
High Yield
Opportunistic Credit
Corporate Bond Fund
Liquid Credit
Long Lease Property
Secured Income
Liability Driven Investment
Net Current Assets
1,346
466
244
266
318
1,108
395
146
208
530
341
307
203
175
563
201
215
253
232
499
101
166
351
2,146
51
229
256
233
167
564
153
183
432
131
287
2,513
32
Total assets
8.445
7,574
51

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
27. Pension Scheme (continued)
Key Assumptions
31 March 2021
'/0 per annum
31 March 2020
/(* per annum
Discount Rate
Ir)flation (RPI)
Inflation (CPI)
Salary Growth
Allowance for commutation of pension for
cash at retirement
2.14
3.30
2.85
3.85
2.40
2.67
1.67
2.67
maximum
allowance
maximum
allowance
The mortality assumptions adopted at 31 March 2021 imply the following life expectancies..
Life expectancy at
age 65 (Years)
Male retiring in 2021
Female retiring in 2021
Male retiring in 2041
Female retiring in 2041
21.6
23.5
22.9
25.1
28. Capital Commitments
There were no Capital commitments as the year end (2020- none).
52

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
29. Operating Lease Commitments
At the balance sheet date the company has future minimum lease payments under non-
cancellable leases as follows..
2021
Land &
buildings
£'ooo
2020
Land &
buildings
£'ooo
Within one year
Within two to five years
51
203
51
254
51
30. Related Parties
Graham Findlay, a Trustee of Thomas Pocklington Trust. is also a Trustee of Visionary
which is a registered charity that seeks to support and link local sight-loss organisations.
As disclosed in note 12, the Trust provided support to Visionary during the year.
Raj Mehta, a Trustee of Thomas Pocklington Trust, is also a Trustee of Middlesex
Association for the Blind which is a registered charity that supports blind and partially
sighted people to lead independent lives. The Trust provided a Covid grant to Middlesex
Association for the Blind during the year.
Phil Longworth, a Trustee of Thomas Pocklington Trust, is the CEO of Bradbury Fields
which is a registered charity that provides services for blind and partially sighted people.
The Trust provided a Covid grant to Bradbury Fields during the year.
53

Thomas Pocklington Trust
Notes to the Accounts for the year ended 31 March 2021 (continued)
31. Comparative Statement of Financial Activities
Unre$trl¢ted Restricted
funds
funds
Pemianent
endovm)ent
Total
funds
2020
2020
2020
2020
£'ooo
£'ooo
£'ooo
£'ooo
Income and endowments
from:
Donations and other
activities
37
37
Charitable activities
447
Investments
66
4.694
(5.478)
{784)
4.760
Other
5,478
6,028
Total income
5,244
Expenditure on:
Raising funds
(10)
(1,970) 11,980)
Charitable activities
Understanding needs
Meeting needs
Total
(767)
(5,221)
(5,988)
(767)
15,221)
{5,988)
Actuarial valuation of
defined benefit pension
scheme
1,141
1,141
Other expenditure
Total expenditure
(4,857)
(1,970) (6,827)
Profit on disposal of asset
Net gain l (loss) on
investments
1,142
1.142
124
(161)
(37)
Net income l (expenditure)
Reconciliation of funds:
1,295
(1.773)
(478)
Total funds brought fO￿ard
Totsl funds carried forward
6,210
7,505
161,557
167,773
159,784 167,295
54