**REGISTERED COMPANY NUMBER: 06037671 (England and Wales) REGISTERED CHARITY NUMBER: 1121344**
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2020
for
Peter Lang Children's Trust
Ward Mackenzie Ltd Chartered Accountants Thatcher House 12 Mount Ephraim Tunbridge Wells Kent TN4 8AS
Peter Lang Children's Trust
## Contents of the Financial Statements for the Year Ended 31 December 2020
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|9|
|Independent Examiner's Report||10||
|Statement of Financial Activities||11||
|Balance Sheet|12|to|13|
|Notes to the Financial Statements|14|to|20|
|Detailed Statement of Financial Activities|21|to|22|
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting 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 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Mission Statement**
"The aim of the PLCT is to increase the number of babies and toddlers (conception to 3 years of age) in Gloucestershire who experience loving, nurturing and harm-free childhoods."
The Trust's strategic plan, with a specific focus on Early Intervention, was launched in October 2012.
The Trust's conviction is that this will help provide children with a secure social and emotional foundation for the rest of their lives and will reduce the likelihood of those later aggressive, harmful and self-destructive behaviours that result from damaging experiences in infancy.
2020 saw the continued implementation and refinement of a robust quarterly monitoring and evaluation process for all grant recipients. This process requires all grant recipients to specify their intended outputs and outcomes for each quarter of delivery and for the proposed programme of work as a whole. Grants are disbursed on a quarterly basis and the release of funds is dependent on the successful completion of quarterly monitoring returns for the preceding quarter. Applicants for funding are required to explain how they will help the Trust fulfil its mission, and how they will demonstrate that their programme has had an impact upon its targeted beneficiaries. The Trust expects projects to apply evidenced based methods when evaluating their outcomes.
It is anticipated that applications will meet 8 out of the following 10 specific short-term outcomes.
- Improved relationship between child and main caregiver, shown in a change in behaviour
- The child maintaining, or achieving appropriate social and emotional development
- An increase in parenting knowledge that is being applied
- An increase in a sense of parenting self-confidence
- An increase in parental involvement with the child
- An increase in the parents capacity to accurately see their child's point of view
- Reduced parental stress
- An increase in access to breastfeeding support
- A reduction in parental conflict
- Connecting parents to other services
Page 1
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
## **OBJECTIVES AND ACTIVITIES**
## **Grantmaking**
Grants are primarily made to registered charities operating and based within Gloucestershire. There is a preference to fund small to medium sized organisations (i.e. income between £10,000 - £1m pa), but the principal criteria is the selection of organisations that will enable the Trust to fulfil its mission and targeted outcomes. Furthermore:
- The PLCT Board of Trustees approves all grants. Its decisions are not subject to appeal.
- All grant recipients are subject to the conditions of grant agreed with the Trust at the beginning of the grant payment process - this includes the Trust's right to request an external audit, commitment to quarterly monitoring requirements (including the outputs and outcomes identified in the approved grant application), and any other specific conditions agreed between the Trust and the applicant.
- Applicants are required to have comprehensive and up-to-date safeguarding policies and procedures in place.
- Due diligence - as part of the application and monitoring process, the structure, governance and management of grant applicants is scrutinised. This includes evaluation of their internal policies and procedures regarding investment, reserves and risk management.
- Grants are made to organisations and the Trust does not generally consider appeals from, or on behalf of, individuals.
- The Trust does not generally consider capital appeals, i.e. requests for building costs or large items e.g. mini buses.
- The Trust does not generally fund individual activities or a trip unless they are part of a programme of activities that can be shown to have an impact against the Trust's targeted outcomes.
- The Trust does not normally provide grants or donations for projects, where the grant or donation is to cover expenditure that has already been incurred or committed.
## **Significant events - 2020**
March 2020 saw the start of the Covid-19 pandemic. Following Government guidelines, the Trust Manager began to work from home. All of the PLCT grant recipients also followed Government guidelines and quickly adapted their service provision to offer support either via telephone or virtually and only met for face-to-face support as and when restritions allowed.
## **ACHIEVEMENT AND PERFORMANCE**
## **Sources and Utilisation of Funding**
The approved philanthropic budget for 2020 was £321,088.50, (the approved budget for 2019 was £371,142. Actual funds released in 2020 were £321,088.50. The 2020 Awards Evening was not held, due to the Covid-19 pandemic. However, funds were released in November 2020, with a cost of £2,500 for 5 Peter Lang Star Awards (£500 each).
Funding is normally generated by an internal source and no external fundraising activities are currently conducted. This source being:
- Dividends and interest from an investment portfolio managed by Rathbones.
Available funding is used to identify, evaluate and support existing organisations, which address elements of the Peter Lang Children's Trust's mission and targeted outcomes as identified in its 2012 Strategic Plan (Early Intervention). The Trust itself does not deliver programmes or activities.
Page 2
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
## **ACHIEVEMENT AND PERFORMANCE Achievement Awards Evening**
An Awards Evening was not held this year, due to the ongoing restrictions relating to the Covid-19 pandemic. However, Peter Lang Star Awards were still awarded to 5 young people who had gone on to university.
## **PLCT Conference**
No conference was held this year.
## **Existing Grant Recipients**
## **Family Space (£15,916)**
(2018-06-FS)
Family Space is based in Hester's Way within West Cheltenham. Their aims are to encourage family relationships, especially between parents and children; develop people's appreciation of themselves and their families, giving a sense of hope; ensure the welfare of the whole family by encouraging them to nurture and develop loving, healthy relationships; provide opportunities for parents and children to enjoy time together and on their own in a safe environment.
PLCT funding supports the delivery of Stay and Play sessions, including weekly sessions of Stay and Play for parents and their preschool children; weekly session of a referred into baby group for parents and their prenatal babies until transition into Stay and Play; on-going support specifically for parents and their preschool children; a monthly Dad's and children's group and a weekly specific interactive activity for Dad's and their 0-3's at the Cheltenham Child Contact Centre to encourage interaction and form positive father/ child relationship. The sessions focus on the Positive Parenting Programme for Parents 'The Early Years'.
This grant was approved for 3 years, starting January 2018.
## **HomeStart Cotswolds and HomeStart Stroud District (£40,000) (2018-04-HSSD&HSC)**
HomeStart Cotswolds and HomeStart Stroud District provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them. The PLCT grant is being used to fund the '0-3 Early Intervention Project'.
This is a joint funding bid between HomeStart Cotswolds and HomeStart Stroud District. The project will support families with children aged 0-3, across Stroud and Cotswold District Council areas, where there are significant risk factors to the child-parent relationship.
This grant was approved for 2.5 years, starting July 2018 (to bring the funding in line with the January to December grant year).
## **Stroud Beresford Group (£20,000) (2013-07-SBG)**
Stroud Beresford Group has been offering help, advice and support to families affected by domestic abuse for over 35 years. They offer a confidential service, run by women, for women and their children. The PLCT grant is being used to provide refuge and outreach services to reduce harm caused by the impact of domestic abuse on young children (aged 0-3).
Page 3
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
## **ACHIEVEMENT AND PERFORMANCE**
This grant was approved for 2.5 years, starting July 2018 (to bring the funding in line with the January to December grant year).
## **New Grant Recipients**
## **The Churn Project (£38,608) (2020-02-CHURN)**
The Churn Project works with the people and communities of Cirencester, particularly the wards of Beeches, Watermoor and Chesterton. They provide support and services for local people especially those who are isolated, socially excluded or in hardship, with a focus on older people, unemployed people and young families, finding practical solutions to meet their needs.
The PLCT grant was awarded for the introduction of antenatal education and the provision of on-going support for parents in the Cirencester area, to give their children the best start in life.
This grant was approved for 4 years, starting January 2020.
## **Cirencester Opportunity Group (£40,000) (2020-10-COG)**
Cirencester Opportunity Group is an independent Early Years Centre, which offers care and education to children aged between 2 and 5 who live in Cirencester and the surrounding villages. Support is also given to parents through outreach work and a range of family sessions, which cater for families with children from birth up to the age of 3.
The PLCT grant supports the Early Intervention (EI) Outreach services. This includes a weekly timetable of sessions for children aged 0-3 and their parents, with a common aim of supporting disadvantaged children to give them the best possible start in life. Also provided are a range of Outreach services to better support parents with young children who are faced with obstacles arising from their social circumstances which impact on their ability to raise their children well and which they cannot overcome without help and support.
This grant was approved for 4 years, starting January 2020.
## **Family Haven (£38,966) (2020-03-FH)**
Situated in Gloucester, The Family Haven's mission is to help and support vulnerable families with pre-school children in Gloucestershire, particularly the hard-to-reach and those living in unsuitable accommodation.
Funding from the PLCT supports the provision of opportunities for the most vulnerable and isolated children, by providing early intervention and help to improve school readiness. This includes encouragement in social development and promoting independence along with providing the additional educational support some children require.
This grant was approved for 4 years, starting January 2020.
## **GL11 Community Hub (£35,362) (2020-08-GL11)**
GL11 is a well-established community project based in Cam and Dursley. GL11 works with people of all ages including Children &Young People, adults and older people. Support is particularly targeted at those who are disadvantaged and vulnerable with complex or multiple needs.
Page 4
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
## **ACHIEVEMENT AND PERFORMANCE**
PLCT funding is supporting the Parenting through Play Programme, which provides universal family support, a playful parenting programme with a focus on the outdoors, delivery of HENRY parenting courses and targeted support for vulnerable families.
This grant was approved for 4 years, starting January 2020.
## **HomeStart Stroud District (£40,000) (2020-17-HSSDGROUPS)**
PLCT funds the delivery of the 'Group-Start' programmes, including 'Best Start' post-natal groups and 'Bump-Start' antenatal groups in the outlying areas of the Stroud District including the Vale of Berkeley, Cam and Dursley.
This grant was approved for 4 years, starting January 2020.
## **Homestart Stroud District (Gloucester) (£20,000) (2020-17- HSCONSORT-HSSD)**
HomeStart Stroud District provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them.
The PLCT grant is being used to fund an expansion of the current Homestart Stroud services into a new geographical area of Kingsway and Quedgeley.
This grant was approved for 4 years, starting January 2020.
## **Homestart N&W Gloucestershire (£60,000) (2020-17- HSCONSORT-HSNWG)**
HomeStart Stroud District provide support to families with children under 5 who are experiencing a range of complex and profound difficulties. Carefully matched volunteers are trained to visit families in their homes on a weekly basis, providing support and helping ensure that both parents and children can access the full range of support services available to them.
The PLCT grant is being used to fund an expansion of the current Homestart services into a new geographical area of Cheltenham, Forest of Dean and Tewkesbury.
This grant was approved for 4 years, starting January 2020.
## **Monkscroft Pastoral Care Project (£39,860) (2020-13-MPCP)**
Monkscroft Pastoral Care Project's main aim is to improve the lives of children living in the Hester's Way and St Mark's areas of Cheltenham. They specifically work on improving the emotional and social development outcomes of children from prenatal/birth onwards.
The PLCT grant was awarded to provide core support services for vulnerable pre-birth to 3-year olds in the Hester's Way and St. Marks/Rowanfield area of Cheltenham.
This grant was approved for 4 years, starting January 2020.
Page 5
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
## **ACHIEVEMENT AND PERFORMANCE North Cotswold Perinatal CIC (£27,759.50) (2020-11-NCPCIC)**
North Cotswold Perinatal Community Interest Company is a not for profit company registered with company's house. Our community interest statement reads 'The company's activities will provide benefit to families in the North Cotswold district who would benefit from support around providing a secure emotional and social foundation for their children, aged conception to 2 years. This support will be in the form of ante & postnatal groups over a 13- week period based on evidence-based programs. The families that will benefit will have had experience of perinatal mental health problems, bereavement, domestic abuse, financial hardship, removal of children by the court, drug and alcohol abuse or teenage parents. Families can be referred for the courses by doctors, midwives, health visitors, Homestart & other VCS groups or self-refer.'
PLCT funding supports the perinatal project in the North Cotswolds covering postcodes GL55, GL56 and GL54. The project will deliver 3 cycles of the Solihull Approach Antenatal Parenting group (Understanding pregnancy, labour, birth and your baby) and the Solihull Approach Postnatal Plus Parenting Group (Understanding your baby).
This grant was approved for 4 years, starting January 2020.
## **FINANCIAL REVIEW**
Following the sale of Peter Lang International Academic Publishing in 2015, the final deferred payment was expected in December 2018. However, this payment was not forthcoming from the company. The trustees have actively pursued this payment, however 99% has now been allocated as a bad debt.
The value of funds held by Rathbones on the Trust's behalf in their investment portfolio amounted to £3,437,982 at the 31st December 2020. We anticipate that the investment income generated for the year will be £70,048.
Other minor cash amounts are held with Lloyds Bank for expenses relating to philanthropy and general administration. The value of cash held in this account as at 31st December 2020 amounted to £28,527.18.
The approved budget for philanthropy was £321,088.50. Actual funds released were £321,088.50.
The Trust's reserves at 31st December 2020 amounted to £3,665,066 (2019 : £3,878,178)
## **FUTURE PLANS**
The key priorities for the Philanthropic element of the Trust's activities over the next 12 months are:
- Continued development of Trust monitoring and evaluation arrangements and analysis of Trust impact against mission and targeted outcomes.
- Delivery of Importance of Infancy training for grant funded projects and other relevant agencies, if Covid-19 restrictions allow.
- Continued environmental analysis - Impact of Covid-19 pandemic, cuts and government policy (e.g. commissioning, early intervention etc.). Implications for the PLCT and the organisations it currently funds. Changes to gaps in services and unmet needs.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 6
Peter Lang Children's Trust
## Report of the Trustees
## for the Year Ended 31 December 2020
The Trust is a charitable company under the Companies' Acts 1985 and 1989, limited by guarantee and not having a share capital, incorporated on 28th December 2006 and first registered as a charity on 30th October 1991. The Company was established under a Memorandum of Association, which sets out the objects and powers of the charitable company and is governed under its Articles of Association.
## **Recruitment and appointment of new trustees**
Trustees are recruited for the skills and expertise that are identified as necessary by the Trust to fulfil its mission and targeted outcomes as identified in its Strategic Plan. Potential Trustees are given the opportunity to meet the Trust Board and to discuss what their general and specific portfolio responsibilities could be. New Trustees are appointed by resolution of the Trustees. New Trustees are requested to sign a letter of commitment. There is no set maximum number of Trustees, although between five and eight is considered to be appropriate. The statutory minimum number is three. Trustee tenure is a maximum of nine years.
## **Organisational structure**
Trustees' meetings are scheduled to take place quarterly with special meetings called, if this is deemed necessary, to discuss particular issues. It is standard practice at each of the meetings for Trustees to discuss their own development needs and review their personal contribution to the Trust.
The Trust employs one member of staff, the Trust Manager, who is responsible for the day-to-day administration of the Trust, and the monitoring and evaluation of the Trust's grant-making programme. The Board of Trustees makes the final decision to award grants. The Board is also responsible for confirming annual grant budget availability.
Mr Robin Balbernie is the Chair of Trustees.
Mrs Bridget Osicki is the Vice Chair and also advises on Human Resource Management.
Mr John Holland is the Treasurer and offers support and expertise on the Business Portfolio.
Mr Stephen Hawkins holds the lead portfolio for Business.
Mrs Patricia Perrins holds the lead portfolio for Philanthropy and is also responsible for the line management of the Trust Manager.
The Trust Manager, Ms Diane Mautterer is responsible for the day-to-day administration of the Trust, supporting the Chairman, Treasurer and other Trustees, communications (internal and external), and core financial functions (e.g. grant payments, payroll, NI/PAYE, etc.). She also administers monitors and evaluates the projects that are supported by the Trust and liaises with other local agencies, making recommendations and reporting back to the Trustees at Board Meetings.
## **Trustees’ Induction and Training**
The PLCT has a formal induction process. In summary, new Trustees are invited to spend time with the Chairman and other Trustees, during which the aims and objectives of the Trust are outlined and discussed. Meetings are also arranged with individual Trustees, at which their particular roles are explained, for example Philanthropy, Finance and Business, in order to provide an understanding of the Trust's operations and to give an opportunity for questions and clarification.
New Trustees receive a copy of the Governing Documents, previous audited accounts, Minutes of Trust Meetings and of appropriate committee meetings and relevant Charity Commission guidance (CC3) on the roles and responsibilities of Trustees. Trustees are also provided with a copy of the Good Trustee Guide produced by NCVO. Training opportunities are identified for the Trust Board as a whole and for specific individual areas of responsibility, with Trustees supported in accessing said training.
Trustees give their time voluntarily and receive no benefits from the Charity. They are able to claim for out of pocket expenses or agreed expenditure. Any expense reclaimed from the charity is included in the accounts.
Page 7
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management**
Where appropriate, systems or procedures have been established to mitigate the risks faced by the Trust.
- Financial - Investment strategies are based on advice from Rathbones, which uses a low risk portfolio. Outcomes are regularly reported at Trust Meetings.
- Mission delivery - The Trust is not itself a service provider but realises its mission by the identification, financing and monitoring of already established organisations that have the apposite qualifications, staff and processes. Grant applicants undergo a detailed assessment process, including due diligence e.g. governance, accounts, safeguarding procedures, risk management processes, etc. Key risks are identified and considered as part of the grant's assessment process. Grant recipients are monitored on a quarterly basis with regular site visits and on-going scrutiny of internal documents e.g. annual reports and audited accounts.
- Operational - In 2010 the Trust Board began the formal process of identifying risks faced by the PLCT and assigning ratings (likelihood x impact) to those risks. The completion of the risk register (i.e. actions, responsibilities, residual risk ratings) is on going.
- Health and Safety - Procedures are in place to ensure compliance with the health and safety of staff and visitors to our premises. A member of staff at City Works Resource Centre is the qualified first aid appointed person.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
06037671 (England and Wales)
## **Registered Charity number**
1121344
## **Registered office**
Thatcher House 12 Mount Ephraim Tunbridge Wells Kent TN4 8AS
## **Principal address**
Units 4-5, City Works Alfred Street Gloucestershire GL1 4DF
## **Trustees**
P A Perrins O B Osicki J E Holland S Hawkins R Balbernie
Page 8
Peter Lang Children's Trust
## Report of the Trustees for the Year Ended 31 December 2020
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
Ward Mackenzie Ltd Chartered Accountants Thatcher House 12 Mount Ephraim Tunbridge Wells Kent TN4 8AS
## **Solicitors**
Bates Wells & Braithwaite 2-6 Cannon Street London EC4M 6YH
**Bankers and Investment Managers** Lloyds Bank Rathbones PO Box 1000 159 New Bond Street Andover London BX1 1LT W1S 2UD
**Trust Manager** Ms D Mautterer
Approved by order of the board of trustees on 16 June 2021 and signed on its behalf by:
J E Holland - Trustk
Page 9
## Independent Examiner's Report to the Trustees of Peter Lang Children's Trust
## **Independent examiner's report to the trustees of Peter Lang Children's Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Joanna Green Bsc FCA (Senior Statutory Auditor) Ward Mackenzie Ltd Chartered Accountants Thatcher House 12 Mount Ephraim Tunbridge Wells Kent TN4 8AS
16 June 2021
Page 10
Peter Lang Children's Trust
## Statement of Financial Activities
## for the Year Ended 31 December 2020
|Notes
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
Grant
Grant
Other
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
-
71,297
71,297
85,904
374,259
-
-
460,163
175,754
(213,112)
3,878,178
3,665,066|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-|2020
Total
funds
£
-
71,297
71,297
85,904
374,259
-
-
460,163
175,754
(213,112)
3,878,178
3,665,066|2019
Total
funds
£
190
90,529|
|---|---|---|---|---|
|||||90,719
4,072
438,639
2,000
59,902|
|||||504,613
427,907|
|||||14,013
3,864,165|
|||||3,878,178|
The notes form part of these financial statements
Page 11
Peter Lang Children's Trust
## Balance Sheet 31 December 2020
|Notes
**FIXED ASSETS**
Tangible assets
9
Investments
10
**CURRENT ASSETS**
Debtors
11
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds:
General fund
**TOTAL FUNDS**|Unrestricted
fund
£
1,279
3,437,982
3,439,261
201,723
28,554
230,277
(4,472)
225,805
3,665,066
3,665,066|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-|2020
Total
funds
£
1,279
3,437,982
3,439,261
201,723
28,554
230,277
(4,472)
225,805
3,665,066
3,665,066
3,665,066
3,665,066|2019
Total
funds
£
1,706
3,443,921
3,445,627
379,301
57,186
436,487
(3,936)
432,551
3,878,178
3,878,178
3,878,178
3,878,178|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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Peter Lang Children's Trust
## Balance Sheet - continued 31 December 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 June 2021 and were signed on its behalf by:
J E Holland - Trustee
The notes form part of these financial statements
Page 13
Peter Lang Children's Trust
Notes to the Financial Statements for the Year Ended 31 December 2020
## **1. ACCOUNTING POLICIES**
## **BASIS OF PREPARING THE FINANCIAL STATEMENTS**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting 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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **INCOME**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **EXPENDITURE**
Liabilities are recognised as expenditure as soon as there 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 amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with 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 expenditure.
## **TANGIBLE FIXED ASSETS**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & Machinery - 10% on cost Fixtures & Fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
## **TAXATION**
The charity is exempt from corporation tax on its charitable activities.
## **FUND ACCOUNTING**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **HIRE PURCHASE AND LEASING COMMITMENTS**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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Peter Lang Children's Trust
## Notes to the Financial Statements - continued for the Year Ended 31 December 2020
|**2.**
**OTHER TRADING ACTIVITIES**
Other income
**3.**
**INVESTMENT INCOME**
Interest received
Dividends
**4.**
**RAISING FUNDS**
**INVESTMENT MANAGEMENT COSTS**
Other operating leases
**5.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Independent Examiners Fees
Depreciation - owned assets
Other operating leases|2020
£
-
2020
£
7,227
64,070
71,297
2020
£
4,072
2020
£
4,056
427
4,072|2019
£
190
2019
£
8,325
82,204|
|---|---|---|
|||90,529|
|||2019
£
4,072
2019
£
3,936
569
4,072|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **TRUSTEES' EXPENSES**
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Page 15
continued...
Peter Lang Children's Trust
## Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **7. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Employee
No employees received emoluments in excess of £60,000.
**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Other trading activities
190
Investment income
90,529
**Total**
90,719
**EXPENDITURE ON**
Raising funds
4,072
**Charitable activities**
Grant
438,639
Grant
2,000
Other
59,902
**Total**
504,613
Net gains on investments
427,907
**NET INCOME**
14,013
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
3,864,165
**TOTAL FUNDS CARRIED FORWARD**
3,878,178||2020
1
Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-||2019
1
Total
funds
£
190
90,529|
|---|---|---|---|---|
|||||90,719
4,072
438,639
2,000
59,902|
|||||504,613
427,907|
||||14,013
3,864,165||
||||3,878,178||
Page 16
continued...
Peter Lang Children's Trust
## Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **9. TANGIBLE FIXED ASSETS**
|Plant and
machinery
£
**COST**
At 1 January 2020 and 31 December 2020
10,717
**DEPRECIATION**
At 1 January 2020
10,717
Charge for year
-
At 31 December 2020
10,717
**NET BOOK VALUE**
At 31 December 2020
-
At 31 December 2019
-
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 January 2020
Additions
Disposals
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|Fixtures
and
Computer
fittings
equipment
£
£
51,617
4,325
50,302
3,934
329
98
50,631
4,032
986
293
1,315
391|Totals
£
66,659
64,953
427
65,380
1,279
1,706
Listed
investments
£
3,443,921
661,503
(667,442)
3,437,982
3,437,982
3,443,921|
|---|---|---|
## **10. FIXED ASSET INVESTMENTS**
.
continued...
Page 17
Peter Lang Children's Trust
## Notes to the Financial Statements - continued for the Year Ended 31 December 2020
|**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Time deposits
Prepayments
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Accrued expenses
**13.**
**MOVEMENT IN FUNDS**
At 1.1.20
£
**Unrestricted funds**
General fund
3,878,178
**TOTAL FUNDS**
3,878,178
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
71,297
(460,163)
**TOTAL FUNDS**
71,297
(460,163)||2020
£
827
200,003
893
201,723
2020
£
416
4,056
4,472
Net
movement
in funds
£
(213,112)
(213,112)
Gains and
losses
£
175,754
175,754|2019
£
78,034
300,249
1,018
379,301
2019
£
-
3,936
3,936
At
31.12.20
£
3,665,066
3,665,066
Movement
in funds
£
(213,112)
(213,112)|
|---|---|---|---|
|||||
|||||
continued...
Page 18
Peter Lang Children's Trust
## Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.1.19
£
**Unrestricted funds**
General fund
3,864,165
**TOTAL FUNDS**
3,864,165
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
90,719
(504,613)
**TOTAL FUNDS**
90,719
(504,613)
A current year 12 months and prior year 12 months combined position is as follows:
At 1.1.19
£
**Unrestricted funds**
General fund
3,864,165
**TOTAL FUNDS**
3,864,165||Net
movement
in funds
£
14,013
14,013
Gains and
losses
£
427,907
427,907
Net
movement
in funds
£
(199,099)
(199,099)|At
31.12.19
£
3,878,178|
|---|---|---|---|
||||3,878,178|
||||Movement
in funds
£
14,013
14,013
At
31.12.20
£
3,665,066|
||||3,665,066|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
162,016
162,016|Resources
expended
£
(964,776)
(964,776)|Gains and
Movement
losses
in funds
£
£
603,661
(199,099)
603,661
(199,099)|Gains and
Movement
losses
in funds
£
£
603,661
(199,099)
603,661
(199,099)|
|---|---|---|---|---|
|||||(199,099)|
continued...
Page 19
Peter Lang Children's Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2020.
Page 20
Peter Lang Children's Trust
## Detailed Statement of Financial Activities for the Year Ended 31 December 2020
|**INCOME AND ENDOWMENTS**
**Other trading activities**
Other income
**Investment income**
Interest received
Dividends
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bad debts
**Investment management costs**
Other operating leases
**Charitable activities**
Grants to institutions
Grants to individuals
**Support costs**
**Governance costs**
Wages
Social security
Pensions
Independent Examiners Fees
Rates and water
Insurance
Telephone
Postage and stationery
Sundries
Legal fees
Travelling and subsistence
Computer expense
Bank charges
Carried forward|2020
£
-
7,227
64,070
71,297
71,297
81,832
4,072
323,745
4,500
328,245
16,796
53
471
4,056
148
403
1,254
188
157
25,524
834
234
94
50,212|2019
£
190
8,325
82,204|
|---|---|---|
|||90,529|
|||90,719
-
4,072
438,639
2,000|
|||440,639
16,528
277
611
3,936
145
460
1,193
511
285
32,835
1,258
556
156
58,751|
This page does not form part of the statutory financial statements
Page 21
Peter Lang Children's Trust
|Detailed Statement of Financial Activities
for the Year Ended 31 December 2020
**Governance costs**
Brought forward
Foreign exchange gain/loss
Fixtures and fittings
Computer equipment
Total resources expended
**Net expenditure before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments
Unrealised gains/(losses) on fixed asset
investments
**Net (expenditure)/income**|2020
£
50,212
(4,625)
329
98
46,014
460,163
(388,866)
(33,668)
209,422
(213,112)|2019
£
58,751
583
438
130
59,902
504,613
(413,894)
348,674
79,233
14,013|
|---|---|---|
This page does not form part of the statutory financial statements
Page 22