REGISTERED CHARrrY NUMBER: 1117310 rt of tlp TnJstee5 and Unaudiied Financial Statefftnts for the Year Ended 30 tlovemiEr 2023 POM Charftable Trust Thome Widgery Accountancy Ltd Chartered Accountants 2 Wyevaie ssnesS Park Kings Acre Hereford terefordshlre HR4 7BS
POM Charitable Trust Content5 of the FlnarKial Statements lor tkt Year Ended 30 November 2023 Page Rert of the Trustees 1 to 3 Iepen(knt EXam1r5 Report Statement of Financial ktithdes BaLarKe Sheet Nole5 tts the FinaKial Statements 7 to 12 Dètailed Statèment of FinaKial ACtitieS 13
Charithble TnJ5t Rewrt of tlE Tru5tse5 for the Year Ended 30 Aovember 2023 trltstees present their rewrt wÉth tl finantial statements ol the charity for the year ended 30 Novewnber 2023. trustees have adopted provisi(xo of Accounting and Reporting by Charities.. Statement of Recommende Prattictr applicable to charitie5 preparn4 their accounts in accordarKe th FinarKial Rekxxting Standard applicable in UK and Republic of IreIar IFRS 1021 (effective 1 January 20191. OBJEcnvE5 AND AcnvrriES ObjectiVO5 and airn5 The objects of the Tnst are the relTef of thfjldrem In need by a1n of i11-31th. disability, S11[ or flnarlal han15hip or otlEr disadvantage aThJ in particular to eble such children to exrie[e tth0[ aciiwty-ba5ed residential holiday5 In thè UK. Please refer to Achlevements PerfomiarKe for detalls of actlwtles taken place during the year. Publlc benefit In draftirry thi5 report the trustee5 have complled with the duty in 5ectioTh 4 of the Charitie5 Aci 2011 to have d regard io public benefit gwdarKe published by the Charfty Commlsslon. GrantmakinB Policy POM Charitable Trust provits grants to institution5 that l) rret the objectlves of Trust. GraTrts are Tnade to these organi5at10ft5 on an annual basi5 ar reKM)rts are sttbmiited to the TrLt to Show how futKting has ten used. ACHIEVEMENT AND PERFORMANCE Charltabie actMtle5 During thTS year the Trust continued to support a number of or8ani5atl(ms that offer children from dIdVantaged background5 Ihe OPF4)rtunity to take part in activity related holithy5. Tse organisalion5 that were pported dusin8 prewou5 year were nted to submit rep)rt5 (scrfblng the POM Chantable Trust funding had LEen e0. Tr rermyts were received aThl dIsCe by the Tru5tee5 at tl Trnstees. meetlng In January 2023. Investment performaKe During the year the Trust. 1ved investnt irKIMre fn)m Trts rtfoliO held Rathbones of £33,8CQ 12022: £33,922). FINANCIAL REVSEW Flnanclal position The results for the year and finarlal tnslllon are set out in Ihe stateffnt of Finarrial ActitIeS and Balance Sheet. Total incoming reswrces £33,801 12022- C33,9221. ftesources expenLÈd were £220.731 12022.. 1275,9951, and Ios5e5 Oti investments of C52,159 12022.. £303,278 1(&ssesl. Net expenditure fN the ar after snvestment eair6 a losse5 was £239,08912022.. £545.351 net expenditure). Net assets aMJted.to £l,439,44812. £1,678,537I. PrEnclpal fundFng sources The Trust was e5tabli5FEd Irom a legacy of awox1mately £2 Million from the estate of Peter LaWenCe. The legacy and tIE inve5lFnenl Ittcome derivin8 from it are the prtlpal 9)urces of fund5. Investment p)Ilcy Rathtx)nÈ GreÈnbank InveStEnts contlNe to manage the POM Chafftable Trust's Inve5ttTEnts In aCcordae defTned ethtcal criterfa ihai are considered to C£¥ST5ieni objectives of the Tntst. Reserve5 policy Tnjstees regularly rnl to rW the charitys level of reserves. A representative frorn RathLne GtEenbaTrk Investments attended the Jar¥Jary 23 Trtee5, TneetitY4 lo r2tN)rt on rfOrmattr of the portfolio. At year end total reseryes amunted to £1.439.448 12Q22.. £1,678,537), of thi5 general fund5 amounted to 156.630 12022: £98,192) Gofjnf concem TFE Tru5tee5 coDfirm that the Lharity operate5 as a golng corttm. Page 1
POM Charitable Trust R&t4).rt o., the Trust&s lor the Year Ended 30 November 2023 FUTURE PLANS The Trust pLans to contiwes to gsprxyi or8anisations thai lip rnt tlE charftys oblertlves. 5TRUCnlRE, GOVERMNCE AND IWNAGEMENT Governing dDcument The charity is contrdled by Its 8ovemir¥ <kxument, a d&d of trust an¢ CO[tiluteS an unirtorporated charlty. Trust 15 foLJvJed as an WIOr[rated aS$TatIon upon the Declaration of Trust on 8 Novew,ter 21MM by its Trustees. Retruttmert aThJ appolntment of new Trtee$ Tru5tee5 have appy)inted eit as nconlnated the of the Ttust's tr[actOr 135 In the ease of Justin Batwckl or a5 recruiled to tKovide acce55 to rEce5sary additltfial skllls and expwti%È jas in the case of all other Trustees). Oryanlsatlonal structure All Ikci5iOll5 pertalning to the Trust are tsken by trustees at a yearty mtlw, which r(iust be atteed by 3 ouomm of four Trustees. SUPSX)rted ty additional etnail communication as essary. Deci51LW5 are takn a5 Specified in the Declaration of Tnjsi. During the financial 5Ear the Tru5tee¥ meeting wa5 [d in Jamary 2023. REFERENCE AND ADNIVE DETAILS Registered Charity number Prfn¢lwl address The Chapel Brockham Green Brockham Betchworth SutTey RH3 7JS V R Alexander J C GLN)dwin C G Upton J G Bawvrick Ire5igtEd 8.1.241 J Hilison L A Balla S Nelson O fyjoth T D Upton lappointed 8.1.241 Independent Examlner Mrs Lisa Weaver Ttrrne Wiijgery AccOuntacY Ltd Chartered Accountants 2 Wale Business Park Kir4$ ALre Hereford Hefor(hlre HR4 7BS Page 2
nble Trl ReiJJrt of the Trustee5 foLthe Year Erd 30 NOveMr 2023 REFERENCE AND AWNISTRAnVE DAlL5 Bankers CAF BatLk Ltd 25 King5 Hill Avenue Kitw Hill West MallTrig Kent ME19 4JQ Investments Advlsers RathtrKI Greenbank Investrr*nts 10 Queen square BfTrstol 8S14Nr Apwoved by order of the board of tru5tee5 OD......... and signed on its LEhalf by: V R Alexander - Trustee Page 3
IrEndent Examlnefs Re.p)rt to Trustee5 of POM Charftsbie Trusi Indepenthxnt examln*s report to the trustees of poA4 fthJTitsble Trust I rewrt to the tharity tn1st on tty examinaiion ¢f the accounrs of POM Chatable TrLL4t Iihe Trust) for the 5Ear ended 30 November 2023. ReSpolbIlltt¢$ and basts of report A5 tIE charity trustee5 of tlE Trust you are respoTh%lble for the weparatlon of the account In accordance wlth the requirements of the Chariti Act 2011 1'tFE Acti. I reFX)rt respect of tny exatnination of thE Trust's account5 carried out under gectioTr 145 of the Act and in carryrY4 out my examlna¢ion I have followed all applicable Dlrtsctlons $lven by tlE Chartty Cunmtsslon under SectloD. 14515iibi o( the Act. Independent examIne$ statement I have completed tny exawTrination. I confirtn that m tryateii al mattrers have Corr to rny attention in connection Mth thè exam1nadon SIn9 Tne cause to believe that In anv material respect.. accounting rordS We mt kepl in of Ihp TnJ5t a5 required by Section 130 of Att; or the accaunts do rK)t accord with tkne recorth. or the accounts do not cotnply wth applicable re(pJirernents Coe[n][ya the foil n di content of aCC(nts sei t in the Charitie5 IAccounts Reports) Regulations 2(X)8 than any requiremÈni that accounts give a tnje arKI falr vfew whthfis rM)t a rnalter ccn5i(Jered a5 part of an Irependent exarDination. I have m COncerr and have across m other matters in connection with the examinatSon to which attention 5hwid drawn in thi5 report in order to able a proper understand1ry of account5 to be reached. Mr5 Lisa Weaver TIN)rne Wldgery AccountarKy Ltd Chartered Accountants 2 Wyevale BlnesS Park Klrgs Acre H&reford Hèrefordshire HR4 765 Date.. Page 4
POM CharitaLle Tru Staternent of FinarKial ActTvities for$ Year Ended 30 N¢>vernber 2023 30.11.23 Total lunds 30.11.22 Total futMJ5 Unre5trtcted En(kiwnnt luThJ fund Note5 INCOME AND ENDOWMEtrifs FROM Investment irawne 33,801 33.801 33.922 EXPENDITURE ON Charttabie aCtIlIeS Activity holiday ArsarieS for di5atharstaged children 220,731 220.731 275,995 Net galns/lloss¢sl on InvÈsrments 152,1591 152.1591 1303.2781 Nrr INCOMEIIEXPENDifuREI 1186.9301 145,368 152,1591 1145,368 1239,CQ91 1545,3511 Trartsfer5 between funds Net IVernent in funds 41,5621 1197.5Z71 1239,0891 1545,3511 RECOIKILIATION OF FUNDS Trtai f)d5 brought forward 98,192 1.580.345 1,678,537 2.223,888 TOTAL FUND5 CARRIEO F¢fiWARD 56,630 1,382,818 1,439.448 1,678,537 tes forrn part of these financial statsments Page 5
Pa41 Charitable TnLt Balatre Sheet 30 )vember 2023 30.11.23 Total fund5 30.11.22 Total iunds UnTe5tricted fund EnLknvnEnt fund trkntes FIXED ASSErs Investrrents 1,382,818 1,382,818 1,580,345 CURRENT ASSErs Debtor5 Cash at bank 4,794 55,081 4,79A 55,081 103,856 59.875 59.875 103.856 CREDITORS Amounts falling due withln Or year 10 13,2451 13,245 15.6641 NET CURRENT ASSErs 56.630 56.630 98.f92 TOTAL ASSEfs LESS cURREp LIABILITIES 56,630 1,38Z,818 1,439. 1,678,537 Nrf ASSETS 56,630 1,382,818 1 439,448 1,678,537 FUNDS 11 Unrestricted fK$S Endowmeni fun( 98,192 1,580,345 1,382,818 TOTAL FUNDS 1.439,448 1,678,537 The finarlas staLeTnerts were apprvved by the Board of Tru5tee5 armj auth0ri5ed for i%5LE . anL1 were SIS on its by: V R AXander- Trustee The rKJte5 foryn part of these financlal StateThts PaEe 6
Note5 to the Flnartial Statements r the Year Erid 30 Novemtw 21n3 Accoui¥nNG POLICIES Basi5 of preparing the financial 5taternents finarKial stateThEnts of the charity, which is a wbllc berefli eniity under FRS 102, have been prepare<l in. accordarKe with the Charitie5 SORP (FR5 1021 'Accountin8 ar ReportFng by Charitles.. 5tatwneni of Recommended Practlce applicable to chae5 preparing iheir accounts in accordar£e th the Financial RertIng Standard awAicable in the LSK and RepublTC of IrelaThl IFRS 1021 leffective 1 January 20191.. Financial RerK)rtin£ Standard 102 The Financial Remiag Standard applicable in the UK ar RepuMic of Iland ar tlE Chèriiies Act 2011. The finarKial statements have been prepared un¢ler ihe historical c05t £VentiOn, with tke exception of investments ¥thKh aTe irKluded at rnaet val, a5 rnothfied by t revaluation af certain assets. CorKern trustees asse55 wkEthEr use of going COrern 15 appropriate i.e. wheiher te aye any material witertalniies related to eve1 or conditions that rnay cast slgnlflcant dDubt on rhe abillty of the COVat to Cmtfrrt as a going concem. The trustees rnake this as5e55Fnenl in respect of a period of at least one year from the date of aUt)nSation for issue of fv financial statemenrs and have c¢)ncluded thèt the cotnpany has adequate re50urce5 to continue In operational existerKe for the foreseeable future and there are ro material uncertainti abwi the charitvs ability to continue a5 a gy)7 cortem, th tY continue to athpt the golng corKem basi5 of accoun In preparing tlk financial state[rnts. l¥)ttsme Ail IrKome Ss r08ned in the Statwnent of Flnarrlal Activttles IYJFAI once fv charlty has entlliement to ihe luThd5, it is probable that inconE vrill recefved and the arnount can EaSured rellabiy. Expendlture Liabilitie5 a niSed as experxliiure as as there is a legal or cor6ttuctive obli8ation cotntnittitY4 the charity to that expenditure. it 15 probaile 11%3t a trar&fer of o[lornIC benefits will be required in settlernent and thè Mnt of obligation can be rneasured reliably. Expenditure 15 acCoUnd for on an accruals ba5i5 and has been ctaS5ified under IEaditw ihai aggregate all costs lated to the cawcry. Where c051s cantvjt Llirectly atthbuted to particular headin85 they have been allftated to actiwtie5 a basls const5teTrt wth the use of re50urce5. Grants offered subject to £orKiitiotts which have not rnei at the year end date are noted as a COrnrnTtnEnt but not actr as experlture. Taution The charity Is exempt from taxon its charitable actlrfues. Investmert5 Inve5tr(nts are r09n1$ed initially at falr value which is M)rmally tIE iransaction price exelud1 trartsaction costs. Sub5equentlyb tw are measured at fair value vAth chartr4e5 reco8nised In 'rpt gain5 1 Ilossesl on inve5trrEnts' Tn SOFA. Debtors TradÈ and other debtOTS are retognlsed ai the setdevnent arYKJunt due after any trade discwit offered. PpayFnents arè Valu at amount prepald [ of any trade discounts due. Cash at bank and In hand Cash at bal and cash ln hand include5 cash and Short wm highly liquid lnvesints with a short matutity of three rnonths or Ivas from the date of acquisition or openir8 ol the deposit or slmllar account. Creditor5 and Pro10nS credito and pT0570ns are reco8ni5ed where the chaty ha5 a present obLi8ation rultir4 from a past eveni that probably result in the transfer cf fudS to a third party and the arwnt th to settle the obligation can be rnèasured or estimated reliably. Creditors and rmw5ions are norFnally recognlsed at tl)eir 5ettlÈment arUt after altowlr4 for any trade discounts (kne. Fund accounting Unrestricfed furvjs can be used In accordarKe the charftabie objectives at the discreLion of trustees. Page 7 continued...
POM Charltabie Trust Notes to the FInala1 Ststements- condnued for Year EThied 30 Novernber Z023 ACCOIJNTING POLICIES- continued Fd accountin8 Restricted fuTh15 can only be used fo.. pa.icUlar restricted purposes withiTrl tIE objects nf r_'IE charity. RestNction5 arlse Wr specified by the dotK)r or when futK6 a rais4 for partiailar restricj pJrp)ses. FUrtr explanation of the nature and purwse of each fund 15 inclu(kd in the notes to f1nanv.al stalennts. INVESTMENT INCOME 30.11.23 30.11.22 Other fixed asset Investments Derx)sit accowtt interest 27,915 5,886 31,225 2,697 33.1101 37,922 CTrWRITABLE ACTIVlnES COSTS Grant fuding of actiwties (see Th)te 41 costs Totals Actfwty lIdaY bursaries for di5a¢fvantaged childre 204,045 16,686 Z2G,131 GRANTS PAYABLE iO.11.23 30.11.22 Actiwty holiday Iaries for disathantagedchildrep. 2r)4,045 257,023 Pa8e 8 C.tinUed...
POM Charitable TNst Note5 to FinarKial Staternents- continued for Year Eed 30 lQovember 2023 GRAkifs PAYABLE. continued The total grants paid to instiwtions during was as foiithvs: 30.11.23 30.11.22 The Cirdan Sailing Trust 14owot House Ellen Macarthur Trust 3H Fund Blackmarsion ATE Back Up Lodge Hill Centre Highlights Up N Away Bendri89 Trust prtestlan(5s kkK)oi 24,LXhJ 16,617 8,7n 3.231 10.515 1,199 22,2) 9,014 19.320 24,150 11,OCI) 12.OLXJ 2,720 24,2 12,C¥XI Y¢xrth AdvenwreTru5l Calvert Trust Bendrigg Tnt UKSA 12.953 12.r io,c(o 10,L 10,OLK) 20,250 13.2% 26,1 15,4( 3,365 10.1 Go Bew) Ashton Secondary Lord Taverners ATE BlaCkMaton SchoDI 10,(ts) 18,1t 2,632 204.045 257,023 INDEPENDENT EXWNERS, REMUNER4TIIJ4 During the year fee5 of £3,640 B022.' £3,271) were payakie to the charitys ItKlepekKnt examirr5. TRUSTEES. REMUNEIiATION AND BENEFITS There were TK) trnstees. reMUrat)n or other befits for year ended 30 14)vernber 2023 Mr for tke year ended 30 November 2022. Tntstees. exper Three trustees 120Z2: Z twstee51 were relmbursed £469 12ff42: £1971 for eXpEr durfng year in Teiation travel rneetirw. Page 9 continued...
POM CKRrltabLe Tt Note5 to ihe FInala( Statements- Connd fff. kny ar Ended 30 klovember 2023 CCVIPARATIVES FOR THE STATEklEKf OF FINA14CIAL AcllviTIES Ur¥estricted fund Endowment fu¥vJ Total fund5 IIXOME AND ENDOWhlEiffS FR¢)M Investment income 33,922 33.9?.2 EXPENDITURE ON Charftable actMtse5 Activity )lIdaY bur5arSe5 lor disadvantaged childre 275.995 275,995 Nel gaittslllossesl on InvtITEnts 1303.278 1303,2781 NET INCOMEIIEXPENDITUREI Tr•nsf¢rs betsyeen fuThJ5 1242,0731 254,014 1303,2781 1254,0141 1545.351 j Net rnovemert In fund5 11,941 1557,2921 1545.3511 RECONCILIATrON OF FUNDS Total funds brought fonvard 86.251 2,137,637 2,?.23,888 TOTAL FUNDS CARRJED FQRWARD 98,192 1,580,34.5 1,678 537 FIXEO Ass IIIVESTMENTS Llsted invest[rfits liARK VALUE At 1 DmiEr 2022 Addilio Disal5 Revaluatiors 1,580.345 3C¢,439 1454,807 j (52,1591 At 30 Nffyemr 2023 1,382.818 BOOK VALUE At 30 November 2023 1.382,818 At 30 NovantEr 2022 1,580,345 Flxed asset Investrnents held in tIE UK were *alued at £606,465 12022.. £836,94-11 at 30 Novetnr)er ZQ23. Inve5tsnents held Outsi the UK were valued at E776,350 12022..£743,394 1 at 30 klDVemr 2023. C05t or valuatlon at 30 Novonber 2023 Is represented by.. Lisied InvestPts Valuation in 2021 1,381,818 Page 10 cnntirHJed...
POM Charftable Twst Notes to tIE Financial Staternents. contTnLEd for Year EIed 30 November 2023 DEBT0.. AJAOUNTS FALLING DUE WTHIN ONE YEAR 30.11.23 30.11.22 Other thbtor5 10. CPEDITORS: Amouiifs FALUNG DUE WtfHIN ONE YEAR 30.11.23 30.11.22 Otker creditors 3,245 MOVEMENT IN FUNDS Net Trartsfers between fuNIs At 1.12.22 At 30.11.23 In funds Unre5trtcted funds Unrestricted Income FunA 98,192 1186,9301 145,368 56,630 Endowrnent ld5 ExpendatrAe £TrJowmeni Fund 1,5K>,345 52,1591 1145,3681 1.382,818 TOTAL FUNDS 1,678,537 1239.0891 1,439,448 Net movement In funLÈ, inclLxled in the aErfJve are a5 foilm: IOrnin resources ResjrCe5 expeed Gain5 and Iaovetnt 105ses in furh UTrrestrÉcted fund5 Unrestricted Incorre Fund 33,801 1220,7311 1186,9301 End0wrrrt funds &ppendable Endowment Fund 152.159 152,1591 TOTAL FUNDS 33,801 1220,731 152.159 1239.0891 Comparatlves for movèment fjh lunds Net tTv)vemeni in funds TTan5fer5 betn funts At 1.12.21 At 30.11.22 Unrestrkted fu*)d5 Unresrricd Incorne Fund 86,251 1242.0731 254,014 98,192 Endtswment funds Expendable Endowrnent Fund 2,137,637 1303,2781 1254,0141 1,58tl,345 TOTAL FUNDS 2,223,888 1545,3511 1,678.537 Page11 continued...
POAI CharilaWTNst Notes to tFE Finar131 Statements- conttnued or tMe_Year Ended_30.Noy£rnber 2023 MOVEAIENT IN FUNDS- contlnued paratTrve rEt movement in fund5, IrKILed in above are as follo", Iy)f14 sour5 Resource5 exFenthd ain% and 10sse5 I0merit Trn lupds Unre5tYlcted fund5 Unrestricted lllcomè Fund 33,922 1275,9951 124?.,0731 Erthvnnent funds ExpwKlable Endowmenl FurKI 1303,278 307,2781 TOTAL FUNDS 33.922 1275.9951 13Q3,2781 1545,3511 Endtswment Fund The endowment fund was created the legacy of PeteT Lawrerice at the I£v[lon of Lrust. It Is an exiErQ3ble ethmnent as such, if there is irsufficient TrwfftlTpnt irb a given y.ai, mtsrbies ?[ drawn fr(¥n endowment fund to SuppleWt the thwestsfjcted funds to allow the trd5Lees io fulfll tre grwits tIE trust make. TraleY$ betsveen fund5 Trdrsfets between fund5 rnde during the year are to SL'PPOrt unrestrrcted fJRd5 from exYndable enthmEnt fund. 12. RELATED PARTY DISCLOSURES Ttrre were no rdaied party transacti5 for the year ended 30 Novemtw 2Lj or 30 NOVemr 2a22. 13. cR0NG PARTY chartty Is jointly controlle(I by tl* Tnjstees. Page 12
POM Chthtabie Trt l)etailed Staternent of Financial Actiwties for tlr Year Eed 3Q l*wernber 2023 30.11.23 30.11.22 INCOME AND ENDOWMEp¥rs Investment income otr fixed asset Investrrthts DeFL>5it account iniere5t 27,915 5,886 31.225 2.697 33,W1 33,922 Total In¢omfjn8 rp5purces 33.W1 33.922 EXPENDITURE Charltsble actMtle5 Grants to iTStiLutio 204,045 257,023 Support Cos Governance costs lTrJepÈndent ÈxamirErs fee Travel and Subsistence ank charges Managewnent fees 3.641 469 3,271 197 12,499 15,408 16.686 18,972 Total resources exrEnded 220.731 275,995 Net expen(Hture before 8atns aTrJ losse5 1186,9301 1242.0731 Realised recogni5ed gains and losse5 Reali5ed 4aiTrsll1055e51 on fixed a55et investments 162,188 113,788 N¢t ¢Y4)enditLre 124,7421 112B.2851 This page mt fomi part of the statutwy fInala1 rtatements Pa8e13