REGISTERED CHARITY NUMBER: 1117310 Re rt of the Trustees and Unaudlted Financial Statements for the Year EThled 30 November 2024 for POM Charltable Trust Thorne Widgery Accountancy Ltd Chartered Accountants 2 Wyevale Busine55 Park Kings Acre Hereford Herefordshire HR4 7BS
POM Charitable Trust Contents of the Flnanclal Statements for the Year Ended 30 November 2024 Page ReFOrt of the Trustees Independent Examlnerfs Rert Stateffent of Flnancial Activities Balan Sheet Notes to the Financial Statements 7 to 12 Detailed Statement of Financial Activities 13
POM Charitable Twst Report of the Trustees for the Year Ended 30 November 2024 The trustees present their report with the financial statements of the charity for the year ended 30 November 2024. The trustees have adopted the txovlslons of Accountlng and Rewrtlng by Charftfes: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). OBJEcnvES AND AcrivrriES Objectlves and aim5 The objects of the Trust are the relief of children in need ty rea50n of iii-health, disability, social or finala1 hardship or other disa(fvantage and in particular to enable such children to experience outdoor activity-based residential holidays in the UK. Sfgnlflcant activitie5 Please refer to AchieVetS and Performance for details of activities taken place during the year. PublTC beneflt In drafting this report the trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public tenefit 8uidance published by the Charity Commi55ion. Grantmaklng Pollcy POM Charitable Trust provides grants to institutions that help meet the objectives of the Trust. Grants are made to these organisations on an annual basis and rewrts are submltted to the Trust to show h¢)w the funding has been used. ACHIEVEMENTS AND PERFORMANCE Charltable activitles During thls year the Trust continued to support a number of organisations that offer children from disadvantaged backgrounds the OPFQrtunity to take part in activity related holidays. Those organisations that were 5UPtNyted during the previous year were invited to submit rewjrts describing how the POM Charitable Trust funding had been used. These reports were received and discussed by Trustees at the Trustees, meetirg in January 2024. Investment perfomiance During the year the Trust recelved investnt income from its wrtfolio held with Ratht%)nes of £27,879 {2023.. £33,801). FINANCIAL REVIEW Flnancial posltlon The results for the year and financial position are set out in the Statement of Financial Activities and the Balance Sh*t. Total incoming resource5 were £27,879 {2023: £33,801). Resources expended were £195,321 12023: £220,731), and gains on investments of £88,422 (2023: £52,159 losses). Net expenditure for the year after investment gains and losses was £79,02012023: £239,089 net expenditure). Net assets aK)Unted to £1,360,428 (2023: £1,439,448). Prlnclpal funding SOU&5 The Trust was established from a legacy of approximately £2 million from the estate of Peter Lawrence. The legacy and the investment irKome deriving from it are the principal sources of funds. Investment pollcy Rathlxjre Greenbank Investments continue to manage the POM Charitable Tmsts investments in accordance with defined ethlcal criteria that are considered to be consistent with the objectives of the Trust. Reserves policy The Twstees regularly meet to review the charity's level of reserves. A representative from Rathl)one Grebank Investrnents attende(l the January 2024 Trustees, ffEeting to report on the perfomance of the wrtfolio. At the year end total reserve5 amounted to £1,360,428 12023: £1,439,448), of thi5 general funds amounted to £44,618 12023: £56,630) Golng concern The Trust&5 confirm that the charfty operates a5 a going concern. Page 1
POM Charitable Trust rt of the Trustees for the Year Ended 30 November 2024 FUTURE PLANS The Twst plans to continues to support or8anlsatfS that help meet the charitys objectives. srRucfuRE, GOVERNANCE AND MANAGEMENT &ivernlng thcument The charity is controlled by its governTng document, a deed of trust and constitutes an unincory)orated charity. The Trust is founded as an unincorwrated association upon the Declaration of Trust made on 8 November 2006 by its TDJstees. Recrultment and appointrnent of new Trustees Tlilst have been appointed either as nominated in the will of the Twst's Eenefactor {as in the case of Justin Barwickl or as recruited to provide access to necessary additional skills and expertise {as in the case of all otl TtiJstees}. Organi5ational Strtur0 Ail decisions tErtaining to the Trust are taken by trust*5 at a yearly meeting, which must be attended by a quorum of four Trustees, supported by additional emall comThniCation as necessary. Decision5 are taken as specified In the Declaration of Trust. During the financial year the Tru5tees' meeting was held in January 2024. REFERENCE AND ADIAINisfRATIVE DEfAILS Registered Charlty number 1117310 Prlndpal address The Chapel Brc(kham Green Br(khaM Betchworth SUeY RH3 7JS Trustees V R Alexander J C Goodwin C G Upton J G Barwick (resig 8.1.241 J Hi1150n L A Balla S Ne150n O Goodwin T D Upton (appointed 8.1.24) Independent Examlner PArs Lisa Weaver Thorne Widgery Accountancy Ltd Chartered Accountants 2 Wyevale Business Park Kings Acre Hereford Herefordshire HR4 7BS Page 2
POM Charitable TrL&L of fort 202 REFERENCE ANLI ADMINISTRATIVE DETAILS Bankers CAF Bank Ltd 25 Kin85 Hill Avenue King5 H?11 West Malllng Kent ME19 4JQ Investmerts Advlsers Rathbone Grnbank Investments 10 Qyeen Square Bristol BS14NT Approved by order of the board of tntstees onl%.4&R*. ¢:..ao!f.... and Sig on its behalf by: V R Alexander- Trustee Page 3
Inde ndent Examlnerfs Re POM Charitable Trust rt to the Trustees of Independent examinerfs report to the trustees of POM Charltable Trust I report to the charity twstees on my examination of accounts of POM Charltabie Trust (the Trust) for the year ended 30 November 2024. Re5wnslbllities and basls of report As the charity trustees of the Trust you are reswnsibie for the preparation of the account5 in accordance with the requirements of the Charities Act 2011 (the Act.). I rep)rt in respect of my examlnatfon of the TnJst'5 accounts carried out under Sectk)n 145 of the Act and in carying t my examination I have followed all applicable Directions given by the Charity Commisslon under Section 145(5){b) of the h£t. Independent examlnerfs statement I have completed my examlnation. I confirm that no materfal matters have come to my attention in connectlon wlth the examination giving me cause to believe that in any rnaterial respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act" or the acccmjnts (kj not accord wth those record5" or the accounts do Th)t coEnpiy WTth the applicable requirements concerning the fom and content of accounts set out in the Charities (Accounts and RetK)rt5) Regulations 2(KJ8 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have concerns and have come across no other fflatters in connectlon with the examination to which attention should be drawn in this rewrt in order to enable a proper understanding of the accounts to tE reached. Mrs Llsa Weaver Thorne Widgery Accountancy Ltd Chartered kcountants 2 Wyevale Business Park Kings Acre Hereford Herefordshire HR4 7BS Date: .. 191912S............................. Page 4
POM Charitable Trvst Statement of Financial Activities for the Year Ended 30 November 2024 30.11.24 Total funds 30.11.23 Total funds Unrestricted fund Endowment fund Notes INCOME AND ENDOWMEiifs FROM Investment income 27,879 27,879 33,801 EXPENDtruRE ON Charltable activitles Activity holiday trmjrsaries for disadvantaged children 195,321 195,321 220,731 Net gainslllosses) on investments 88,422 88,422 152,159) NEf INCOMEI{EXPENDITURE) Transfers between fund5 {167,4421 155,430 88,422 1155,430) (79,0201 (239,0891 Net movement in funds 112,012) (67,008) (79,0201 1239,0891 RECONCILIATION OF FUNDS Total fund5 brought forward 56,630 1,382,818 1,439,448 1,678,537 TOTAL FUNDS RRIED FORWARD 44,618 1,315.810 1,360,428 1,439,448 The notes form part of these financial statements Page 5
POM Charitable Tn Balare Sheet 3.Q.liVetp.4éi1L4 30.11.24 Total funds 30.11_23 Total funds Urrestricted Enthwment fund fund t4otes FIXED ASSErs InvestsTients 1.315.810 1,315,810 1,382.818 CURRENT ASSErs Debtors Cash ai bank 48,026 48.026 55,081 48,026 48.026 59.875 CREDITORS Amount5 falling within year 10 13,408) 13,4081 13,2451 NET CURRENT ASSEts 44.618 44.618 56.630 TOTAL ASSETS LESS CUIIRENT LIABIUTIES 44,618 1,315,810 1,360,428 1,439,448 ASSErs 44,618 1,315.810 1.360,428 1,439,448 FUNDS Unrestricted fuTrJs Endowment funds 11 44,618 1.315,810 56.630 1.382,818 TOTAL FUNDS 1.360.428 1.439.448 finandal ststements were approved by the 8oard of Trusts arKI autfvjrised for 755ue A.kn. S..&J.1r.2P.I...... and were s19 on Its Lhalf by: V R Alexander - Trustee The notes forln part of the finarKial statements Page 6
POM Charitable Tw5t Notes to the Financial Statements for the Year Ended 30 November 2024 AccouimNG POLICIES Basi5 of preparlng the flnandal statements The financlal statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance vhth the Charities SORP (FRS 1021 Accounting and Rewrting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019)., Financial Rewrting Standard 102 The Financial ReF¥)rting Standard applicable in the UK and Repubilc of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as )difIed by the revaluation of certain assets. Golng Concern The trustees as$ whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going COern. The trustees make this assessment in reskECt of a period of at least one year from the date of authorisatlon for 155ue of the financial statements and have concluded that the company has adequate resources to continue In OFeratlonal existence for the foreseeable future and there are no material uncertainties abjut charity's ability to continue as a going COeM, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. Income Ail income 15 recognised in the Statement of Financial Activities {SOFA} 0e the charfty has entitlement to the funds, it is probable that the income will be received and the amount can measured reliably. Expendlture Llabilities are recognised as expenditure as soon as tre is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required In settlement and the aUnt of the obllgatlon can be measured reliably. Expendlture 15 accounted for on an accruals basls and has been classified under headlngs that aggregate all costs related to category. Where costs cannot te directly attributed to particular headings they have been all¢xated to activities on a basis consistent wlth the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as exFenditure. Taxatlon The charity is exempt from tax on its charitable acÉlvitle5. Investmènts Investments are recognlsed initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (loe$l on investments. in the SOFA. Debtor5 Trade and other debtors are recognlsed at the settlement anKJunt the after any trade discount offered. Prepayrnents are valued at the anM)unt prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand include5 cash and short term highly liquld investments with a short maturlty of three months or less from the date of acquisition or opening of the dewsit or slmliar account. Credltors and provisions Creditors and provisions are recognised where the charity has a present obligation resultlng from a past event that will probably result in the transfer of funds to a third party and the aK)Unt due to settle the obligatlon can te measured or estimated reliably. Creditors and provision5 are normally recognised at their setuewffit amount after allowing for any trade dlscounts due. Fund accountin8 Unrestricted funds can be used in accordance wlth the charfitable objectives at the discretion of the trustees. Page 7 continued...
POM Charitable Trijst Notes to the Financial Statements - continued for the Year Ended 30 Novemtrf 2024 ACCOUNTING POLICIES- continued Fund accountlng Restricted funds can only te used for particular restricted purroses within the objects of the charity. Restrictions arise when specified by the dornr or when funds are raised for partlcular restricted purposes. Further explanatlon of the nature and purpose of each fund is included in the notes to the financial statements. INVESTMEKf INCOME 30.11.24 30.11.23 Other fixed as*t investments Deposit account interest 24,059 3,820 27,915 27,879 33,801 CHARITABLE AcfivrnES COSTS Grant funding of activltle5 (see note 4) sUprt Casts Totals Activity hoilday bursaries for disadvantaged children 178,483 16,838 195,321 GIiANTS PAYABLE 30.11.24 30.11.23 Activity holiday Lwrsaries for disa(fvantaged children 178,483 204,045 Page 8 continued...
POM Charltable Trust Notes to the FInala[ Statements - continued for the Year Ended 30 NoVem1r 2024 GRAi¥fs PAYABLE - contlnued The total grants pald to Instltution5 durTng the year was as follow5: 30.11.24 30.11.23 The Clrdan Sailing Trust Honeypot House Ellen Macarthur Trust 3H Fund Back Up Lodge Hill Centre Highlights Up N Away Bendrlgg Trust Youth Athnture Trust Calvert Trust Bendrigg Trust UKSA 20,000 24,OCL) 16,617 8,976 11,245 10,OC(I 13,5CK) 3,231 9,014 19,320 12,OCK) 12,850 17,1 12,953 12,COJ 10,C((J 10,C 20,250 13,296 10,( 18,160 2,632 10,IX(I 9,912 13,2CK) 10,OCK) 12,390 Go Beyond Lord Taverner5 ATE Blackniarston School Sense Trusts Tall Ships Base Camp 4,410 178,483 204,045 INDEPENDEKf EXAMINERS. REMUNERATION During the year fees of £3,24612023: £3,271) were payable to the charitys Inde[nt examiners. TRusfEES' REl•lUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 30 NOveMr 2024 ncy for the year ended 30 November 2023. Trustee5' expenses Two trustees {2023: 3 trustees) were reimbursed E792 12023: £4691 for expenses thjring the year in relation to travel and meetings. COMPARATIVES FOR THE sfATEMENT OF FINANaAL AcfiviMES Unrestricted nd Endowment fund Total fuThJs INCOME AND ENDOWMENTS FROM Investment irKome 33,801 33,801 EXPENDITURE ON Charltable actlvitie5 Activity holiday bursaries for disadvantaged hildren 220,731 220,731 Page 9 ontinued...
POM Charitable Trust Notes to the Financial Staternents - contfnued for the Year Ended 30 Novemter 2024 COMPARATIVES FCR THE sfATEMEtrif OF FINANCIAL ACTNMES - contlnued Unrestricted fund Endowment fund Total fund5 Net gain51{losses) on investments (52,1591 (52,1591 NEf INCOMEI(EXPENDrruRE) 186,9301 145,368 {52,1591 (145,3681 (239,089) Transfers between funds Net m¢)vernent in funds (41,5621 (197,5271 {239,089) RECONCILIATION OF FUNDS Total funds brought forward 98,192 1,580,345 1.678,537 T(yfAL FUNDS CARRIED FORWARD 56,630 1,382,818 1,439,448 FIXED Ass INvlIEr5 Listed Investments MARKEf VALUE At 1 December 2023 Addition5 tAswsals Revaluations 1,382,818 256,113 (411,543) 88.422 At 30 November 2024 1,315,810 BOOK VALUE At 30 NovemlM 2024 1.315,810 At 30 November 2023 1,382,818 Flxed asset investments held in the UK were valued at £1,103,897 12023: £606,465) at 30 November 2024. Investments held outside the UK were valued at Q11,914 {2023:£776,3501 at 30 November 2024. Cost or valuation at 30 November 2024 15 represented by: Listed investments Valuation in 2024 1,315,810 Page 10 continued...
POM Charitable Trust Notes to the Flnanclal Statements - contin1 for the Year Ended 30 November 2024 DEwfoRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.11.24 30.11.23 Other debtors 4,794 10. CREDITORS: AAIOUNTS FALLING DUE WITHIN ONE YEAR 30.11.24 30.11.23 Other credltor5 3,245 11. hlOVEMENT IN FUNDS Net nVernent In funds Transfers between funds At 1.12.23 At 30.11.24 Unrestricted funds Unrestricted lftcome Fund 56,630 (167,442) 155,430 44,618 Endowment fund5 Expendable Endowment Fund 1,382,818 88,422 1155,4301 1,315,810 TOTAL FUNDS 1,439,448 179,020) 1,360,428 Net movement in fund5, included in the above are a5 follows: Incoming resources Resource5 exFended Gains arn hts)vement in funds Unrestrlcted funds Unrestricted Income Fund 27,879 1195,321) 1167,4421 Endowment funds Expendable Endowment Fund 88,422 88,422 TiyfAL FUNDS 27,879 {195,3211 88,422 (79,020) Comparatlve5 for movement In funds Net vement in fund5 Transfers between funds At 1.12.22 At 30.11.23 Unrestricted fund5 UnrestrTCted Income Fund 98.192 (186,9301 145,368 56,630 Endowrnent funds Expendable Endowment Fund 1,580,345 {52,1591 {145,368) 1,382,818 TOTAL FUNDS 1,678,537 (239,0891 1,439,448 Page11 continued...
POM Charitable Trust Notes to the Flnancial Statements - contin1 for the Year Ended 30 November 2024 MOVEME1 IN FUNDS - contlnued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and los hlovement in funds Unrestricted funds Unrestricted Income Fund 33,801 1220,731 } {186,930) Endowment fund5 Expendable Endowment Fund 152,159) 152,159) TOTAL FUNDS 33,801 1220,7311 {52,159) {239,089) End)wmènt Fund The endownnt fund was created with the legacy of Peter Lawnce at the inception of the trust. It is an expendable en¢)wment and as such, if there Is insufficient investment income in a given year. monies are drawn from the endowment fund to yjpplement the unrestricted funds to allow the trustees to fulfil the grants the trust make. Transfers between fund5 Transfers between furKls made during the year are to support unrestricted funds from the expendable en()wment fund. 12. RELAtED PARTY DISCLOSURES There Yre Th) related party transactions for the year ended 30 November 2024 or 30 November 2023. 13. coKfROLLING PARrf The charity is jointly controlled by the Trustee5. Page12
POM Charltable Trust Detailed statet of Financial Actiwties for the Year Ended 30 November 2024 30.11.24 30.11.23 INCOME AND ENDOWMEKrs Investment Income Other fixed asset investments DerM)sit account interest 24,059 3,820 27,915 5,886 27,879 33,801 Total incomlng resour 27,879 33,801 EXPENDITURE Charftable actlvities Grants to institutions 178,483 204,045 Support costs Governan costs Indetendent examiners fee Travel and subsistence Bank charges Management fees Professional Fees 3,410 982 62 11,604 780 3,641 469 12,499 16,838 16,686 Total resources exFEnded 195,321 220,731 Net expendlture before galns and losses {167,442> {186,9301 Reallsed recognised gains and losses Realised gains/(1055es) on fixed asset investments 81,422 162,188 Net expenditure (86,020) 24,7421 This page does not form part of the statutory financial statements Page13