##
#
##
##
##
#
#
##
|Contents|||
|---|---|---|
|Legal and Administrative
Information.|||
|The Report ofthe Trustees.|||
|Our values. ..|||
|Vision, objects ofthe Charity and public|benefit.||
|Structure, Governance
and Management|||
|Financial
Review.|||
|Achievement
and Performance.|||
|Statement ofTrustees'
Responsibilities.|||
|Independent
auditor's
report to the Members ofThe Pennies Foundation|||
|Statement offinancial activities (incorporating|an income and expenditure|account) ...|
|Balance sheet|||
|Statement
of Cash Flows.|||
|Notes to the financial statements.|||
##
|Registered|Registered|Charity Numbers:|Charity Numbers:|Charity Numbers:||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|England|and Wales||||1122489|||||||
|Republic|of||Ireland||20106331|||||||
|Isle of Man|||||12?5|||||||
|Company||Registration||Numbers:||||||||
|England
and Wales
Isle of Man|||||06418982
006181F|||||||
|Governing||Instrument|||Articles ofAssociation||||(Amended|12August 2019)||
|Trustees|||||Robert Leitlo||||Chair|||
||||||Peter Ayliffe||||Audit Committee||member|
||||||Graham
Edwards||||Audit Committee||Chair|
||||||lan Filby||||Resigned|4 April|2023|
||||||Penny
Lovell|||||||
||||||Julian Taylor||||Audit Committee||member|
||||||Leigh Thomas|||||||
||||||Angela
Luger||||Appointed|12 December 2022||
|Chief Executive|||||Alison Hutchinson||CBE|||||
|Registered||Office|||First Floor|||||||
|and Business Address|||||64 London Wall|||||||
||||||London|||||||
||||||EC2M 5TP|||||||
|Bankers|||||HSBC Bank pic|||||||
||||||94 Kensington|High Street||||||
||||||London|||||||
||||||W8 4SH|||||||
|Auditors|||||RSM UK Audit|LLP||||||
||||||25 Farringdon|Street||||||
||||||London|||||||
||||||EC4A 4AB|||||||
|Solicitors|||||Simmons
8 Simmons|||LLP||||
||||||City point|||||||
||||||One Ropemaker||Street|||||
||||||London|||||||
||||||EC2Y9SS|||||||
|Website|||||www.
ennies.|or|.uk|||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||2022|||2021|
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||Note|||||F|f.|
|Income from:|||||||||
|Donations||2|1,144,291|6,287,984|7„432,275|1,028,574|5,446,102|6,474,676|
|In~stments||2|2,233||2,233|163||163|
|Total income|||1,146,524|6,287,984|7,434,508|1,028,737|5,446,102|6,474,839|
|Expenditure
on:|||||||||
|Charitable
activities|||1,270,127|6,287,984|7,558,111|1,090,685|5,446,102|6,536,787|
|Total expenditure|||1,270,127|6,287,984|7,558,111|1,090,685|5,446,102|6,536,787|
|Net (expenditure)|for the year||(123,603)||(123,603)|(61,949)||(61,949)|
|Transfers
between|funds|||(45,944)||11,588|(11,588)||
|Net movement
in|funds||(77,659)|(45,944)|(123,603)|(50,361)|(11,588)|(61,949)|
|Reconciliation
of|funds:||||||||
|Total funds
brought|forward|17a|1,465,416|45,944|1,511,360|1,515,776|57,532|1,573,308|
|Total funds carried forward|||1,387,757||1,387,757|1,465,416|45,944|1,511,360|
##
|||||Note||2022f||2021|
|---|---|---|---|---|---|---|---|---|
|Fixed assets:|||||||||
|Intangible assets||||10||88,197||96,950|
|Tangible assets||||11||63,699||77,378|
|Inmstments||||12||1||1|
|||||||151,&97||174,329|
|Current assets:|||||||||
|Debtors|||||1,001,425||1,073,051||
|Cash at bank and|in|hand|||2,077,178||1,878,695||
||||||3,078,603||2,951,746||
|Liabilities:|||||||||
|Creditors:
amounts||falling due within|one year|15|(1,842,743)||(1,614,716)||
|Net current assets||||||1,235,860||1,337,030|
|Total assets less|current liabilities|||||1,387,757||1,511,360|
|Total net assets||||||1,387,757||1,511,360|
|The funds ofthe|charity:||||||||
|Restricted
income|funds|||16||||45,944|
|Unrestricted
income||funds:|||||||
|General
funds|||||1,387,757||1,465,416||
|Total unrestricted|funds|||||1,387,757||1,465,416|
|Total charity funds||||||1,387,757||1,511,360|
##
##
|||||||Note||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||f|||
|Cash flows from operating|||activities|||18||231,024||(265,229)|
|Cash flows from investing|||activities:||||||||
|Interest income|||||||2,233||163||
|Purchase|of intangible
fixed|assets|||||(30,949)||(9,951)||
|Purchase|oftangible axed assets||||||(3,825)||(1,948)||
|Net cash|(used in) investing||activities|||||(32,541)||(11,736)|
|Change|in cash and cash|equivalents||in|the year|||198,483||(276,965)|
|Cash and|cash equivalents|at the beginning|||ofthe year|||1,878,695||2,155,659|
|Cash and cash equivalents|||at the end|of|the year|||2,077,178||1,878,695|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|The following
grants to charities|The following
grants to charities||were payable|were payable|were payable|to institutions|during|the year:|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022|2021|
|||||||||||F|
|Action Against
Hunger|||||||||27,286|20,085|
|Action Aid|||||||||7,803||
|Age UK|||||||||123,773|199,682|
|Alz heim er's Society|||||||||145,669||
|Barnardo's|||||||||11,348|6,241|
|Barretstown|||||||||27,384|34,335|
|BBCChildren
in Need||||||||||11,339|
|BEN Motor and Allied Trades Benevolent|||||Fund||||5,858|21,192|
|Birmingham
Children's
Hospital||Charity|||||||86,461|79,709|
|Bloodwise|||||||||17,832||
|Blue Cross|||||||||29,931|1,389|
|British Heart Foundation|||||||||102,307|93,444|
|British Paralympic
Association|||||||||7,539|60,165|
|CATTs (Cancer Awareness|for|Teens and|||Twenties)||||6,391|12,270|
|Children
On The Edge|||||||||35,623|12,160|
|Children's
Hospices Across Scotland|||||||||3,185|5,539|
|Choose Love (Prism the Gift Fund)|||||||||16,063||
|Clic Sargent Cancer Care for Children|||||||||38,345|56,883|
|Conservation
International|||||||||13,560||
|Crisis UK|||||||||12,346|8,706|
|Dementia
Adventure
Trust|||||||||1,295|5,119|
|Disasters
Emergency
Committee|||||||||362,845||
|Fight for Peace International|||||||||29,349||
|Glasgow
Children's
Hospital
Charity|||||||||36,881|29,048|
|Grace House
North East|||||||||5,053|7,922|
|Great Ormond
Street Hospital||Children's|||Charity||||205,932|248,337|
|Greenfingers
Charity|||||||||2,600|6,008|
|Hendy
Foundation|||||||||14,688|15,643|
|Home-Start
UK|||||||||5,863|15,643|
|Hospice
UK|||||||||42,269|30,550|
|icandance|||||||||42,587||
|Isle of Play|||||||||5,772|5,390|
|Jersey Children's
Charity|||||||||7,607|8,181|
|Kent, Surrey
and Sussex Air Ambulance|||||||||2,363|5,297|
|Kent Wildlife Trust|||||||||8,282||
|Learning
Foundation|||||||||163,832||
|Leeds Cares|||||||||19,309|17,072|
|Macmillan
Cancer Support|||||||||804,317|725,463|
|Macmillan
Cancer Support|Jersey||||||||21,148|16,869|
|Maggie Keswick Jencks Cancer|||Caring||||||64,022|6,683|
|Make-A-Wish
Foundation|UK||||||||3|32,302|
|Mental
Health
Foundation|||||||||64,150|77,289|
|MIND (National
Association|for Mental|||Health)|||||67,991|23,818|
|Moto in the Community|||||||||92,057|78,526|
|My Canine
Companion|||||||||40,407||
|Newcastle
upon Tyne Hospitals|||NHS Charity||||||5,993|7,449|
|NHS Charities
Together|||||||||5,272|105,293|
|Noah's
Ark Children's
Hospital||Charity|||||||15,532|14,467|
|Northern
Ireland
Hospice|||||||||28,389|32,607|
|Papyrus
Prevention
ofYoung Suicide|||||||||12,019|16,081|
|Poundland
Foundation|||||||||133,422|123,965|
|Sub total|||||||||3,029,953|2,278,161|
##
|camed forward from previous|camed forward from previous|page|page|||3,029,953|2,278,161|
|---|---|---|---|---|---|---|---|
|Prostate Cancer UK||||||26,845||
|Rays ofSunshine||||||25,000||
|Scottish Mountain
Rescue||||||7,165||
|Shooting Star Chase|||||||7,587|
|Special Olympics
GB||||||176,415|67,209|
|Spread a Smile||||||21,893|67,209|
|Royal Marines
Association|—The Royal|||Marines|Charity|30,062||
|Royal Society ofWildlife Trusts||||||35,813||
|Teenage Cancer Trust||||||665,838|866,288|
|Teens Unite Fighting
Cancer||||||11,465|17,563|
|The Adnams
Community
Trust||||||6,750|23,793|
|The Alder Hey Children's
Charity||||||86,327|79,709|
|The Childhood
Trust||||||12,507|233|
|The Children's
Hospital
Charity||||||18,157|18,563|
|The English
Heritage
Trust||||||17,679|2,133|
|The JD Foundation||||||317,278||
|The National
Society for the||Prevention||of Cruelty|to Children|125,522|5,896|
|The National
Trust||||||24,965|64,658|
|The National
Trust for Scotland||||||2,071|8,100|
|The Prince's Trust||||||61,782|278,457|
|The Royal British Legion||||||1,431|10,919|
|The Royal Marsden
Cancer||Charity||||59,075||
|The Save The Children
Fund||||||73,303||
|The Screwfix Foundation||||||835,640|1,147,097|
|Together for Short Lives||||||118,711|31,147|
|Tommy's|||||||32,298|
|Twycross
Zoo —East Midland|||Zoological Society||Ltd|6,012|6,791|
|United
Kingdom
for UNHCR||||||28,711||
|Veterans
Garage Limited||||||1,964|6,084|
|Wallace 8 Gromit's
Children's|||Foundation|||86,239|79,709|
|Whizz-Kidz|||||||32,298|
|Wilderness
Foundation
UK||||||61,530|69,808|
|Wolverhampton
Wanderers||Foundation||||5,895|5,502|
|Grants payable
on accrued||donations||as at the year end||84,496|158,661|
|Other grants
equal to or less than E5,000||||||191,490|80,229|
|Total grants payable||||||6,257,984|5,446,102|
##
##
##
##
|This is sta|ted|alter char|g|ing:||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||F|F|
|Depreciation||oftangible||fixed assets||17,504|16,699|
|Amortisation||of intangible||fixed|assets|39,702|38,541|
|Operating|lease rentals:|||||||
|Property||||||39,716|35,657|
|Other||||||798|732|
|Auditors'|remuneration||(including||VAT):|||
|Audit|fees|||||31,740|26,028|
##
|||||2022|2021|
|---|---|---|---|---|---|
|Salaries and wages||||786,572|664,806|
|Social security costs||||86,720|69,734|
|Employer's
contribution|to defined|contribution|pension schemes|53,494|56,867|
|Staff Recruitment
costs||||12,512|824|
|Other staff costs||||4,418|569|
|||||943,716|792,800|
|2022|2021|
|---|---|
|No.|No.|
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||F|F|
|Salaries and|wages||||201,854|177,920|
|Social security costs|||||25,400|21,099|
|Employer's|contribution|to defined|contribution|pension schemes|41,321|46,850|
||||||268,575|245,869|
##
##
|Statf are|split across the activities|split across the activities|ofthe charitable|company|as follows|(full time equivalent|basis):|||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|||||||||No.|No.|
|Charitable||Activities||||||12|11|
|Support|8|Governance||||||5|4|
||||||||||15|
##
##
##
##
|Intangible
fixed assets|||||
|---|---|---|---|---|
||Under|Systems|Other computer||
||construction|soRware|software|Tota I|
||F|F|F||
|Cost|||||
|At the start ofthe year||85,311|169,608|254,919|
|Transfers||(3,744)|3,744||
|Additions
in year|25,260||5,689|30,949|
|At the end ofthe year|25,260|81,567|179,041|285,868|
|Amortlsation|||||
|At the start ofthe year||18,205|139,764|157,969|
|Charge for the year||16,314|23,388|39,702|
|At the end ofthe year||34,519|163,152|197,671|
|Net book value|||||
|At the end ofthe year|25,260|47,048|15,889|88,197|
|At the start ofthe year||67,106|29,844|96,950|
##
##
||||||Oflice 8||
|---|---|---|---|---|---|---|
||||Leasehold|Oflice|Computer||
||||Improvements|Furniture|equipment|Total|
||||F|f|E|E|
|Cost|||||||
|At the|start ofthe year||82,822|26,537|26,863|136,222|
|Additions||in year|||3,825|3,825|
|At the|end|ofthe year|82,822|26,537|30,688|140,047|
|Depreciation|||||||
|At the|start ofthe year||27,908|8,886|22,050|58,844|
|Charge|for|the year|10,803|3,461|3,240|17,504|
|At the|end|ofthe year|38,711|12,347|25,290|76,348|
|Net book||value|||||
|At the|end ofthe year||44,111|14,190|5,398|63,699|
|At the|start ofthe year||54,915|17,651|4,813|77,378|
##
##
##
##
##
|Debtors|||
|---|---|---|
||2022|2021|
|Other debtors|789,243|663,335|
|Accrued income|132,952|348,728|
|Prepayments|54,293|36,051|
|Rent deposit|24,937|24,937|
||1,001,425|1,073,051|
##
|15.|Creditors: amounts
falling due|within one year||||
|---|---|---|---|---|---|
|||||2022f|2021|
||Trade creditors|||59,709|47,572|
||Amounts
due to subsidiary|||1|1|
||Taxation and social security|||26,532|24,591|
||Grant accruals|||1,639,867|1,429,163|
||Other accruals|||116,634|113,388|
|||||1,842,743|1,614,715|
|16a|Analysis ofnet assets between|funds (current year)||||
||||General|||
||||unrestricted|Restricted|Tots I funds|
||||E|||
||Intangible
lixed assets||88,197||88,197|
||Tangible fixed assets||63,699||63,699|
||Investments||1||1|
||Net current assets||1,235,860||1,235,860|
||Net assets at 31 December 2022||1,387,757||1,387,757|
|16b|Analysis ofnet assets between|funds (prior year)||||
||||General|||
||||unrestricted|Restricted|Total funds|
|||||E||
||Intangible
lixed assets||96,950||96,950|
||Tangible fixed assets||77,378||77,378|
||investments||1||1|
||Net Current assets||1,291,087|45,944|1,337,031|
||Net assets at 31 December 2021||1,465,416|45,944|1,511,360|
##
##
##
|Movements
in|fund|s (current ye|ar)|||||
|---|---|---|---|---|---|---|---|
||||||||At 31|
||||At 1 January|Income 8|Expenditure
&|Transfers|December|
||||2022|gains|losses|in/(out)|2022|
|Restricted funds:||||||||
|Pennies
donations||||6,257,984|(6,257,984)|||
|CRM system
fund|||45,944|||(45,944)||
|Other restricted|fund|||30,000|(30,000)|||
|Total restricted|funds||45,944|6,287,984|(6,287,984)|(45,944)||
|General funds|||1,465,416|1,146,524|(1,270, 127)|45,944|1,387,756|
|Total unrestricted||funds|1,465,416|1,146,524|(1,270,127)|45,944|1,387,756|
|Tota I funds|||1,511,360|7,434,508|(7,558,111)||1,387,756|
##
##
##
##
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|Net (expenditure)
for|the reporting||period||(123,603)|(61,949)|
|(as per the statement|offinancial||activities)||||
|Depreciation
charges|||||57,206|55,240|
|Interest
from investments|||||(2,233)|(163)|
|Decrease/(Increase)
in|debtors||||71,626|(562,730)|
|Decrease
in creditors|||||228,028|304,374|
|Net cash provided
by/(used||in) operating||activities|231,024|(265,228)|
##