OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-04-05-accounts

Charity registration number 1149424

THE PICKWELL FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

THE PICKWELL FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R I Elliott Mr S P Baker Mrs S J Baker Mrs T J Elliott Charity number 1149424 Principal address Pickwell Manor Georgeham Braunton Devon EX33 1LA Independent examiner Mr A Hemmings BA (Hons) ACA CTA Simpkins Edwards LLP The Summit Woodwater Park Pynes Hill Exeter Devon EX2 5WS

THE PICKWELL FOUNDATION

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8 - 9
Balance sheet 10
Notes to the financial statements 12 - 24

THE PICKWELL FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023

The trustees present their annual report and financial statements for the year ended 5 April 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

Investment Policy and objectives

Income continues to be donated periodically by the trustees, either individually or from their shared businesses, to meet the grants approved by the Foundation. Grants are usually scheduled to be paid by monthly standing order over the course of the grant period.

When the Foundation is in receipt of grants itself, either for the purposes of re-grants or for the delivery of local services, then the grants are held on account as restricted funds until expended.

Up to this point the foundation has not been endowed, but during this financial year the Foundation was bequeathed a property for the purposes of housing refugees resettling in Cambridge (further details below).

Public Benefit

In planning our activities for the year, we kept in mind the Charity Commission’s guidance on public benefit at our Trustee meetings.

The focus of our activities is to:

Partner with individuals and charities (particularly through the provision of funds) to:

Currently these charitable aims are principally focused on two themes:

  1. The resettlement of refugees and asylum seekers in the UK.

  2. The climate crisis with a particular focus on UK climate mitigation.

Achievements and performance

Review of the year

Within the context of its charitable aims, the foundation has continued to direct it’s funding and support principally to organisations that are working with either displaced people or those addressing the climate crisis. The Foundation has also continued to expand its work directly supporting refugees to resettle in Northern Devon, as well as supporting asylum seekers accommodated in the area.

This financial year a significant proportion of the Foundation’s attention has been on rapidly scaling its programme of support to the ‘Homes for Ukraine Scheme’ in Northern Devon and in providing support to a large asylum dispersal hotel in the district. There have also been new opportunities to contribute to national policy and procedures in relation to refugee resettlements programmes. (see further details below)

The time, resources and attention that these new programmes required, resulted in a somewhat lower level of external grants awarded this financial year, than in recent years. Toward the end of the financial year, as these programmes became more established, the award of grants picked up and so grants for the year 2023-24 are anticipated to be back at previous levels.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

1) Displaced People

Homes for Ukraine Scheme

Towards the end of the last reporting period, in March 2022, the government announced a new scheme to enable households to provide accommodation for refugees fleeing from Russia’s invasion of Ukraine. Following the announcement of the Homes for Ukraine Scheme on 14[th] March 2022 we acted swiftly to mobilise the trustees, staff, and volunteers to provide a co-ordinated local response. Building on this early work, North Devon and Torridge District Councils commissioned us to provide the wrap around support to both the sponsors (hosts) and guests in these localities, and they provided per capita grant funding for this work.

To provide the necessary level of support we recruited seven staff members to work on the programme. During this year we supported a total of 203 Ukrainian guests and their 91 Hosts / Host families across North Devon and Torridge districts. The support provided included the following:

Community Sponsorship

This year we continued to consolidate our role as a ‘Principal Sponsor’ for the government’s Community Sponsorship Scheme, welcoming new families to Appledore and Combe Martin. We also continued to act as Principal Sponsors supporting three community sponsorship groups, who were providing the second year of support to families in Ilfracombe, Barnstaple (Taw) and Chulmleigh.

As part of our strategy to expand community Sponsorship across the villages and towns of North Devon and beyond, we supported the launch of two new community sponsorship groups this year – South Molton Community Welcome and Bishop Tawton Community Welcome.

There was public fundraising for each of these community sponsorship groups and groups have dedicated bank accounts in which their restricted funds are held and administered.

In July 2022 the Foundation was bequeathed a property for the purposes of housing refugees resettling in Cambridge. This house is being used by a community sponsorship group called Resettle Chesterton, to resettle a family under the principal sponsorship of Citizens UK. The Foundation receives monthly rent from the family at the Local Housing Allowance Rate.

During this year we also continued to administer a grants programme to accelerate the uptake and pace of community sponsorship funded by the Shapiro Foundation.

Asylum Dispersal Support

In November 2022 a large hotel in Ilfracombe became an asylum dispersal hotel at very short notice. It had a capacity of around 150 residents, all of whom were asylum seekers, defined under legislation as ‘destitute’, and as such having no means of obtaining adequate accommodation independently.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

We were invited by North Devon District Council to lead and co-ordinate the voluntary sector response to support the residents in the hotel. Our model of support included detailed initial needs assessments with all residents; coordination with the local GP practice for health assessment and provision; formation of volunteer led ‘family groups’; co-ordination of voluntary sector support from the local community; and the formation of a free ‘shop’ to provide essential items of clothing, toiletries and mobile phones etc.

We recruited a project lead to provide co-ordination and leadership to the project and seconded a community coordinator from the Salvation Army and an Asylum Caseworker / Advisor from Devon and Cornwall Refugee Support. The success of the response drew much from the effectiveness of the multi-stakeholder approach fostered by North Devon Council.

Whilst no government funding was available for this vital work, we were grateful for the generosity of a significant donation from a private donor and grants for humanitarian support from the Fullabrook CIC and The Norman Family Foundation. The support programme relied on the essential work and commitment of 32 volunteers. Between November 2022 and May 2023 we were able to provide essential support to 238 residents. A short film about the work can be seen here https://vimeo.com/854282926

Afghan Scheme

Following the launch by the UK government of the Afghan Citizens Resettlement Scheme (ACRS) in 2022, North Devon District Council approached us to develop a proposal to provide resettlement support for an initial cohort of six Afghan families to a military base in North Devon. The programme prioritises ‘ those who assisted UK efforts in Afghanistan and stood up for values such as democracy, women’s rights, freedom of speech and rule of law’ . Following agreement of principal terms, we employed a staff lead for this programme in January 2023. (the subsequent arrival of families was delayed until later in 2023)

Displaced People -Grants

Other Grants

Whilst our grants are generally focused on supporting organisations working specifically with refugees or asylum seekers, we have continued to have a few grants for organisations that are working with individuals and groups that are at risk of displacement through a range of social, economic and other factors. Such grants this year included an end of a three-year grant to Synergy Theatre Projects ; and continued support for Encompass Southwest, that works on housing solutions for vulnerable groups in North Devon.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

2) The Climate Crisis

Grants

We continue to focus on supporting organisations using legal, policy and financial levers to address the climate crisis. This is reflected in the following grants.

In addition to our grants focusing on UK climate mitigation, we also recognise that the impacts of climate change are felt most forcefully by those in climate vulnerable nations, and this is reflected in the following grants:

Events

Following our grant sponsorship of the ‘Hothouse’, an environmental and climate talks venue at the Greenbelt Art Festival in 2019, we supported this venue again this year after a postponement to the festival due to the COVID pandemic.

Declarations of interests

During this financial year the following declarations of interest were made in relation to grants. Regarding the grant given to Greenbelt Festival, it was declared that Stephen Baker had been Chair of Trustees of the festival during this financial year, though this grant was made after he had finished his time on the board. Regarding the grant given to Green Alliance it was declared that Stephen Baker’s sister-in-law is an employee at Green Alliance, though not directly within the ‘Greening the Economy’ programme.

The trustees of the Pickwell Foundation recognise potential and / or perceived conflicts of interest that may arise with their Directorships and financial interest in the housing provider ‘Homemade (Pickwell) Ltd’ and the commercial solar company ‘Eden Sustainable Ltd’. The mitigation of these potential conflicts of interest are to be managed in accordance with the Charity Commission’s guidance (CC29), including the use a conflict of interests register and as guided by its conflict-of-interest policy and procedures.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

Financial review

The charity received income in the year totalling £511,627 (2022: £193,708). The funds held at the end of the period stood at £122,938 (2022: £71,291). Details of the grants made by the Foundation during the year can be found in Note 7 to the financial statements.

Reserves

The Foundation draws down funds periodically, with trustee’s individual donations and business income, to meet its grant commitments. The trustees have considered that it has not been necessary to maintain significant fixed reserves in the Foundation bank account, beyond that which is held in restricted funds. Each community sponsorship group also has its own dedicated bank account in which its restricted funds are held.

Structure, governance and management

Trust History

The Trust was created by deed of settlement of 18 April 2012.

The capital and income are held at the Trustee’s discretion for distribution for charitable purposes.

Organisation

The Trustees consider proposals for distribution at periodic intervals, with approximately eight Trustees meetings each year, where grant funding proposals are considered.

Funds are available to make donations to any registered charity or individual that the Trustees consider appropriate.

The Charity’s principal sources of funds

Historically most of the Foundation’s funds have come from the proceeds of the shared businesses of the trustees. The Foundation does some limited public fundraising – though currently this is restricted fundraising for specific Community Sponsorship groups.

This year the Foundation has received significant grant funding from North Devon Council and Torridge District Council to provide support for the Homes For Ukraine Scheme (as outlined above)

The Foundation was also bequeathed a domestic property in Cambridge for the purpose of housing refugees.

The Charities Organisational Structure and wider networks with which it works

The charity is led by the four trustees. At the end of 2022/23 financial year, it had 12 staff (9.3 FTE) all of which were working on the Foundation’s refugee and asylum programmes focused on Northern Devon. We have a staff structure with an Operations Manager who manages the designated Leads for each programme of work.

We are a member of the Environmental Funders Network (EFN) and the Association of Charitable Foundations (ACF). Susannah Baker co-chairs the national Community Sponsorship Alliance; is a member of the Home Office’s Resettlement Strategic Engagement Group (RSEG) and worked closely with the Department for Levelling Up to shape the Homes for Ukraine Scheme.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr R I Elliott

Mr S P Baker Mrs S J Baker Mrs T J Elliott

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

The trustees' report was approved by the Board of Trustees.

Mr R I Elliott

Trustee Dated: 5 February 2024

Mr S P Baker Trustee Dated:5 February 2024

THE PICKWELL FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE PICKWELL FOUNDATION

I report to the trustees on my examination of the financial statements of The Pickwell Foundation (the charity) for the year ended 5 April 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Mr A Hemmings BA (Hons) FCA CTA

for and on behalf of Simpkins Edwards LLP

The Summit Woodwater Park Pynes Hill Exeter Devon EX2 5WS

Dated: 5 February 2024

THE PICKWELL FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2023

Current financial year

Unrestricted
Restricted Endowment
funds
funds
funds
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
98,233
403,194
765,000
Other trading activities
4
-
6,384
-
Investments
5
-
16
3,800
Total income and endowments
98,233
409,594
768,800
Expenditure on:
Charitable activities
6
147,159
312,821
-
Net (outgoing)/incoming resources
before transfers
(48,926)
96,773
768,800
Gross transfers between funds
61,218
(61,218)
-
Net movement in funds
12,292
35,555
768,800
Fund balances at 6 April 2022
3,299
67,992
-
Fund balances at 5 April 2023
15,591
103,547
768,800		 Total
2023
£
1,266,427
6,384
3,816
1,276,627
459,980
816,647
-
816,647
71,291
887,938		 Total
2022
£
188,844
4,864
-
193,708
148,747
44,961
-
44,961
26,330
71,291

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE PICKWELL FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

Prior financial year
Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
111,216
77,628
Other trading activities
4
-
4,864
Total income and endowments
111,216
82,492
Expenditure on:
Charitable activities
6
110,402
38,345
Net (outgoing)/incoming resources before transfers
814
44,147
Gross transfers between funds
(840)
840
Net movement in funds
(26)
44,987
Fund balances at 6 April 2021
3,325
23,005
Fund balances at 5 April 2022
3,299
67,992		 Total
2022
£
188,844
4,864
193,708
148,747
44,961
-
44,961
26,330
71,291

THE PICKWELL FOUNDATION

BALANCE SHEET

AS AT 5 APRIL 2023

Notes
Fixed assets
Tangible assets
11
Investment property
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds - general
Income funds
Restricted funds
16
Unrestricted funds		 2023
£
5,092
126,057
131,149
(16,806)		 £
8,595
765,000
773,595
114,343
887,938
768,800
103,547
15,591
887,938		 2022
£
3,998
71,843
75,841
(4,550)		 £
-
-
-
71,291
71,291
-
67,992
3,299
71,291

The financial statements were approved by the Trustees on 5 February 2024

Mr R I Elliott Trustee

Mr S P Baker Trustee

THE PICKWELL FOUNDATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 5 APRIL 2023

2023
Notes
£
£
Cash flows from operating activities
Cash generated from operations
19
826,017
Investing activities
Purchase of tangible fixed assets
(10,634)
Purchase of investment property
(765,000)
Investment income received
3,816
Net cash used in investing activities
(771,818)
Net cash used in financing activities
-
Net increase in cash and cash equivalents
54,199
Cash and cash equivalents at beginning of year
71,843
Cash and cash equivalents at end of year
126,042
Relating to:
Cash at bank and in hand
126,057
Bank overdrafts included in creditors payable
within one year
(15)		 2022
£
-
-
-		 £
45,454
-
-
45,454
26,389
71,843
71,843
-

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

1 Accounting policies

Charity information

The Pickwell Foundation is a public benefit entity and a registered charity in England & Wales and is unincorporated. The address of the principal office is Pickwell Manor, Georgeham, Braunton, North Devon, EX33 1LA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Investment income and tax recoverable are accounted for on a receivable basis, whilst interest is accounted for when received.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Grants are recognised when a payment is authorised.

Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of it's beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computers

25% per annum reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted Endowment
funds
funds
funds
general
2023
2023
2023
£
£
£
Donations and gifts
67,523
41,944
-
Grants received
30,710
361,250
-
Donated goods and services
-
-
765,000
98,233
403,194
765,000
For the year ended 5 April 2022
111,216
77,628
-		 Total
2023
£
109,467
391,960
765,000
1,266,427		 Total
2022
£
135,200
53,644
-
188,844
188,844

4 Other trading activities

Restricted Restricted
funds funds
2023 2022
£ £
Fundraising events 6,384 4,864

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

5 Investments

Restricted Endowment
funds
funds
general
2023
2023
£
£
Rental income
-
3,800
Interest receivable
16
-
16
3,800
For the year ended 5 April 2022
-
-		 Total
2023
£
3,800
16
3,816		 Total
2022
£
-
-
-
-

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

6 Charitable activities

Charitable
Charitable
Expenditure Expenditure
2023 2022
£ £
Staff costs 9,505 4,732
Depreciation and impairment 2,039 -
Training - 505
Accountancy 4,440 3,299
Bank charges 534 489
Event costs 2,563 790
Subscriptions 47 243
Travel 3,616 444
Sundry 981 1,373
Admin & advertising - 646
Asylum dispersal support 18,676 -
BCSG expenses - 1,085
GCSG expenses - 654
CCW expenses 3,553 12,602
ICW expenses 2,053 5,865
TCW expenses 5,156 6,354
CMCW expenses 10,591 5,486
RIA expenses 16,708 5,307
Ukraine expenses - 338
Insurance - 548
Community sponsorship 32,686 -
Computer expenses 174 -
Homes for Ukraine 221,896 -
Cambridge (Leys Road) 3,483 -
Bishops Tawton expenses 204 -
South Molton expenses 15 -
Afghan Scheme 5,559 -
344,479 50,760
Grant funding of activities (see note 7) 115,501 97,987
459,980 148,747
Analysis by fund
Unrestricted funds 147,159 110,402
Restricted funds 312,821 38,345
459,980 148,747

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

7 Grants payable

Charitable Charitable
Expenditure Expenditure
2023 2022
£ £
Grants to institutions:
Amigos 5,000 -
Doctors of the World 5,000 -
Grants under £500 717 -
Freedom From Torture 1,000 -
Encompass South West 2,750 3,000
Green Alliance 1,000
Greenbelt Festival 15,000
Peaceful Borders 5,000
Sanctuary Day Centre 1,500
The Big Give 20,000
Citizens UK 10,386
Tyneside Welcomes 4,500
Prism 11,648
Client Earth - 28,000
Synergy 5,833 10,000
Industry Tracker/ Investor Watch - 9,000
New Economics Foundation - 10,000
Plasttic Free North Devon 500 5,000
Coram - 5,000
Uplift 10,000 10,000
Environmental Funders Network 1,500 1,000
Peers for the Planet 9,167 8,333
Students Organising for Sutsainability UK 5,000 8,000
NVQ Course Fees 654
Other 69,034 -
115,501 97,987

Commitments

The Charity has made grant commitments totalling £103,834 to fund charitable activities for periods of up to two years from the date of offer. All such grants include a requirement to provide an annual report by a specified period before subsequent funding is released. Such subsequent funding is not recognised as a liability in these financial statements due to this performance related condition. The commitments will be funded from reserves and future income.

Stephen Baker had been Chair of Trustees of the Greenbelt festival during this financial year, though this grant was made after he had finished his time on the board. Regarding the grant given to Green Alliance it was declared that Stephen Baker’s sister-in-law is an employee at Green Alliance, though not directly within the ‘Greening the Economy’ programme.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

Number of employees

The average monthly number of employees during the year was:

Employees
Employment costs
Wages and salaries		 2023
Number
10
2023
£
208,963		 2022
Number
2
2022
£
4,732

There were no employees whose annual remuneration was £60,000 or more.

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Tangible fixed assets

Computers
£
Cost
Additions 10,634
At 5 April 2023 10,634
Depreciation and impairment
Depreciation charged in the year 2,039
At 5 April 2023 2,039
Carrying amount
At 5 April 2023 8,595

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

12 Investment property

Investment property
Fair value
At 6 April 2022
Additions through external acquisition
At 5 April 2023		 2023
£
-
765,000
765,000

Investment property comprises a property in Cambridge bequeathed to the Charity. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the Trustees. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Freehold
Long leasehold
Short leasehold
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
14
Loans and overdrafts
Bank overdrafts
Payable within one year		 2023
£
765,000
-
-
2023
£
4,000
1,092
5,092
2023
£
15
15		 2022
£
-
-
-
2022
£
3,998
-
3,998
2022
£
-
-

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes
Bank overdrafts
14
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
15
11,453
643
1,695
3,000
16,806		 2022
£
-
-
-
-
4,550
4,550

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
6 April 2021
r
£
Barnstaple Community Sponsorship Group
583
Georgeham Community Sponsorship Group
1,307
Ilfracombe Community Welcome
7,329
Chulmleigh Community Welcome
12,702
Taw Community Welcome
1,084
Combe Martin Community Welcome
-
Resettle in Appledore
-
The Shapiro Foundation
-
South Molton
-
Bishops Tawton
-
Homes for Ukraine
-
Asylum Dispersal
-
Humanitarian Support (Asylum)
-
Ukraine (Devon Community Foundation
Grant)
-
Afghan Scheme
-
23,005		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(1,085)
-
(1,307)
200
(5,865)
4,843
(12,602)
13,958
(6,354)
10,139
(236)
15,249
(975)
-
(338)
38,102
(9,582)
-
-
-
-
-
-
-
-
-
-
-
-
82,491
(38,344)		 Transfers
Balance at
6 April 2022
r
£
£
502
-
-
-
-
1,664
-
4,943
-
8,688
-
9,903
-
14,274
338
28,520
-
-
-
-
-
-
-
-
-
-
-
-
-
-
840
67,992		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
-
-
-
-
(2,052)
2,381
(3,553)
440
(5,156)
5,860
(10,591)
6,248
(16,708)
14
(26,534)
-
(15)
11,256
(204)
338,735
(223,773)
29,660
(18,676)
6,500
-
8,500
-
-
(5,559)
409,594
(312,821)		 Transfers
Balance at
5 April 2023
£
£
-
-
-
-
1,754
1,366
-
3,771
-
3,972
-
5,172
-
3,814
(2,000)
-
-
(15)
-
11,052
(60,972)
53,990
-
10,984
-
6,500
-
8,500
-
(5,559)
(61,218)
103,547

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

16 Restricted funds

(Continued)

Barnstaple Community Sponsorship Group

This is to provide support to families resettling in Barnstaple under the UK governments Community Sponsorship Scheme.

Georgeham Community Sponsorship Group

This is to provide support to families resettling in Georgeham under the UK governments Community Sponsorship Scheme.

Chulmleigh Community Welcome

This is to provide support to families resettling in Chulmleigh under the UK governments Community Sponsorship Scheme.

Ilfracombe Community Welcome

This is to provide support to families resettling in Ilfracombe under the UK governments Community Sponsorship Scheme.

Taw Community Welcome

This is to provide support to families resettling in the Taw Valley area under the UK governments Community Sponsorship Scheme.

Combe Martin Community Welcome

This is to provide support to families resettling in the Combe Martin area under the UK governments Community Sponsorship Scheme.

Resettle In Appledore

This is to provide support to families resettling in the Appledore area under the UK governments Community Sponsorship Scheme.

The Shapiro Foundation

This is to facilitate the acceleration of applications for community sponsorship in the UK through match funding.

South Molton Community Welcome – This is to provide support to families resettling in South Molton under the UK Government’s Community Sponsorship Scheme

Bishops Tawton Community Welcome – This is to provide support to families resettling in Bishops Tawton under the UK Government’s Community Sponsorship Scheme

Homes For Ukraine – This is grant funding from North Devon and Torridge District Councils to provide support to sponsors (hosts) and Ukrainians guests resettling in Northern Devon under the UK Government’s Homes for Ukraine scheme.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

16 Restricted funds

(Continued)

Asylum Dispersal – This is to provide support to asylum seekers resettling locally in dispersal accommodation

Cambridge (Leys Road) – This is income and expenditure related to a property bequeathed to the Foundation in July 2022 for the purpose of housing refugees resettling in Cambridge

Ukraine (Devon Community Foundation) – This grant from Devon Community Foundation is for the purpose of supporting Ukrainians in the Northern Devon area with Transport

Humanitarian Support (Asylum Support) – This is to provide humanitarian support to asylum seekers residing at the Dilkhusa Hotel in Ilfracombe. These funds were grant funding received from Fullabrook CIC and the Norman Family Foundation

Afghan Scheme - This is to provide support to Afghan families resettling in North Devon under the UK Government’s Afghan Citizens Resettlement Scheme (ACRS).

17 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
Endowment
funds
2023
2023
2023
£
£
£
Fund balances at 5 April 2023 are represented by:
Tangible assets
1,079
7,516
-
Investment properties
-
-
765,000
Current assets/(liabilities)
14,512
96,031
3,800
15,591
103,547
768,800		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
8,595
-
-
765,000
-
-
114,343
3,299
67,992
887,938
3,299
67,992		 Total
2022
£
-
-
71,291
71,291

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

18 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Donations totalling £62,000 were received from related parties during the period. These represented amounts received from Pickwell Manor Ltd, the shareholders of which are Mr S Baker, Mrs S Baker, Mr R Elliott and Mrs T Elliott, Trustees of the charity (2022: £109,000 was received from related parties during the period. These comprised £94,000 received from Pickwell Manor Ltd, the shareholders of which are Mr S Baker, Mrs S Baker, Mr R Elliott and Mrs T Elliott, Trustees of the charity and £15,000 received from Mr R Elliott, the Trustee ).

19

Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
Cash generated from operations		 2023
£
816,647
(3,816)
2,039
(1,094)
12,241
826,017		 2022
£
44,961
-
-
2
491
45,454