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← The Pickwell Foundation

2024-04-05-accounts

Charity registration number 1149424 (England and Wales)

THE PICKWELL FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

THE PICKWELL FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R I Elliott Mr S P Baker Mrs S J Baker Mrs T J Elliott Mrs L Strahan (Appointed 14 June 2024) 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 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 - 26

THE PICKWELL FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2024

The trustees present their annual report and financial statements for the year ended 5 April 2024.

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.

The Foundation has a property that was bequeathed to it 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 – with a particular focus on Northern Devon.

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 support now has the following 4 strands of work:

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

1) Homes for Ukraine Scheme

This financial year constitutes the second year of our grant funding from North Devon and Torridge District councils to provide support to Ukrainians and their hosts. These two district councils have provided per capita grant funding for those accommodated in the area under the Homes for Ukraine Scheme. During the year we had up to 7 staff working on the programme and typical support included:

This year we welcomed many new arrivals under the scheme, whilst continuing to support existing guests in their second year in the UK. At the end of the year 192 guests were being supported across 68 hosts. We have invested significant time and energy to promote the scheme, to raise awareness and to recruit new sponsors to be hosts. During the year we supported 43 re-matches with new sponsors and supported 28 moves into private rented accommodation. Since the start of the scheme, in March 2022, we have supported more than 350 guests.

2) Afghan Relocations and Assistance Policy Scheme (ARAP)

The purpose of the ARAP scheme is to provide resettlement support in the UK for Afghan families with members who had provided support to the British military during operations in Afghanistan. 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 Chivenor (Braunton). The national scheme provides central government funding to the local authority for 3 years, with reduced funding for each year. In turn, North Devon Council approved a percapita re-grant to us for a 3-year period with a pro-rata reduction each year.

We welcomed our first families in October 2023 and shortly before that, North Devon Council agreed to increase the number of families to be resettled on the military base to 12 and then in February 2024 they agreed to increase further to 18 families. During this year we welcomed the first 9 of these families with the support of 5 caseworkers and 32 volunteers. The comprehensive programme of resettlement support covers everything from house preparation; welcome and orientation; benefits and finance; employment and training; access to services including health and education; language and ESOL; and everything else involved in supporting the journey towards full social integration and independence.

3) Asylum Dispersal Support and New Beginnings

In November 2022 a large hotel in Ilfracombe became an asylum dispersal hotel at 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.

We were invited by North Devon District Council to lead and co-ordinate the voluntary sector response to support the residents in the hotel. There was no funding available for this work and so we relied on private donations, small grants, our unrestricted funds, and ultimately the hard work of an army of volunteers. The model of support included detailed initial needs assessments with all residents; co-ordination 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.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

The success of the response drew much from the effectiveness of the multi-stakeholder approach fostered by North Devon Council. 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 . The hotel closed in May 2023 and for a period our Asylum Lead continued to provide some support to residents as they moved to their new accommodation.

Following our work in the hotel, we named our work supporting asylum seekers and those recently granted asylum as ‘New Beginnings’ and this has become an established stream of our ongoing work. This year the work has included: supporting individuals in placements in homes with hosts (a programme we call ‘Being Home’); the establishment of a regular ‘New Beginnings Hub’; and work to prevent homelessness amongst those seeking or recently granted asylum.

4) Community Sponsorship

This year we continued in our role as a ‘Principal Sponsor’ for the government’s Community Sponsorship Scheme – helping to form new sponsorship groups; assisting groups in their two-year period of formal support to families resettling; and helping other groups to transition beyond their formal period of commitment and facilitating them to support their families towards greater independence.

During this year, the sponsorship group in Combe Martin moved into their second year of support and the groups in Ilfracombe, Taw (Barnstaple) and Chulmleigh came to an end of their 2-year period of support, and they fully expended their restricted funds. The family in Appledore moved away within their first year and so the group disbanded earlier than anticipated. Their unspent funds were held as restricted funds for other community sponsorship groups, including a new group that formed at the end of the year in Bideford.

Community Sponsorship relies on the work and support of a number of volunteers in each group. In 2023-2024 we had a total of 103 volunteers within the active sponsorship groups across Northern Devon. This included volunteers in Bishops Tawton and South Molton who spent this year fundraising and house searching in preparation to submit their application to the Home Office.

This year we also took the strategic decision to expand the geographical area in which we would act as Principal Sponsors, beyond Northern Devon. Accordingly, we agreed to support new sponsorship groups in Brighton and Brislington (Bristol). The Brighton group made particularly rapid progress with their application and welcomed an Afghan family in March 2023.

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 continues to receive monthly rent from the family at the Local Housing Allowance rate.

Displaced People -Grants

As our local programmes of work to support displaced people has grown, we have begun to reduce the number of grants to national organisations. However, advocacy and influence on national policy remains one of our key strategic objectives and this is the focus of the work of our co-founder and trustee, Susannah Baker (see below).

This year there were still some significant national grants including:

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Other Grants

Whilst our grants in this programme have 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 ongoing grant to Synergy Theatre Projects ; and continued support for Encompass Southwest, which works on housing solutions for vulnerable groups in North Devon.

1) The Climate Crisis

Grants

In this grant programme we continue to focus on supporting organisations using legal, policy and financial levers to address the climate crisis – with a particular focus on UK based climate mitigation. 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 grant:

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Events

In conjunction with the charity Empathy Action in March 2024 we hosted a weeklong production of ‘Desperate Journeys’ – an immersive experience of a journey which includes war, displacement, refugee camps, people smugglers and boat crossings. During the week we hosted several performances for both schools and community.

Following our grant sponsorship of the ‘Hothouse’, an environmental and climate talks venue at the Greenbelt Art Festival in 2019 and 2022, we once again supported the venue this year.

Declarations of interests

During this financial year the following declarations of interest were made in relation to grants. Regarding the grant given to Green Alliance it was declared that Stephen Baker’s sister-in-law is an employee at Green Alliance, though she does not work 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.

Financial review

The charity received income in the year totalling £675,625 (2023: £1,276,627). The funds held at the end of the period stood at £927,224 (2023: £887,938). 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, organisation or individual that the Trustees consider appropriate and which fits with its charitable aims and the test of public benefit.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

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 mainly restricted fundraising for specific Community Sponsorship groups.

This year the Foundation has again received significant grant funding from North Devon Council and Torridge District Council to provide support for the Homes for Ukraine Scheme. It has also received a significant grant for the Afghan Relocations and Assistance Policy Scheme (as outlined above).

The Foundation also receives rental income from a domestic property in Cambridge, which was bequeathed to the Foundation for the purpose of housing refugees.

The Charities Organisational Structure and wider networks with which it works

During this financial year the charity was led by four trustees. At the end of 2023/24 financial year, it had 15 staff (12.8 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 Mrs L Strahan

(Appointed 14 June 2024)

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

Mr R I Elliott Trustee Dated: 5 February 2025

Mr S P Baker Trustee Dated:5 February 2025

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 2024.

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.

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, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 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 the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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 EX2 5WS

Dated: 5 February 2025

THE PICKWELL FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2024

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2024
2024
2024
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
153,316
509,835
-
Other trading activities
4
-
-
-
Investments
5
9
7
11,400
Other income
6
529
529
-
Total income and endowments
153,854
510,371
11,400
Expenditure on:
Raising funds
7
385
-
-
Charitable activities
8
239,921
427,033
-
Total expenditure
240,306
427,033
-
Net gains/(losses) on investments
13
-
-
31,000
Net (outgoing)/incoming resources
before transfers
(86,452)
83,338
42,400
Gross transfers between funds
102,016
(90,616)
(11,400)
Net movement in funds
15,564
(7,278)
31,000
Fund balances at 6 April 2023
15,591
103,547
768,800
Fund balances at 5 April 2024
31,155
96,269
799,800		 Total
2024
£
663,151
-
11,416
1,058
675,625
385
666,954
667,339
31,000
39,286
-
39,286
887,938
927,224		 Total
2023
£
1,266,427
6,384
3,816
-
1,276,627
-
459,980
459,980
-
816,647
-
816,647
71,291
887,938

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

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 2024

Prior financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2023
2023
2023
Notes
£
£
£
Income and endowments 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
8
147,159
312,821
-
Total expenditure
147,159
312,821
-
Net gains/(losses) on investments
13
-
-
-
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
459,980
-
816,647
-
816,647
71,291
887,938

THE PICKWELL FOUNDATION

BALANCE SHEET

AS AT 5 APRIL 2024

Notes
Fixed assets
Tangible assets
15
Investment property
16
Current assets
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total assets less current liabilities
The funds of the charity
Endowment funds
20
Restricted income funds
21
Unrestricted funds
22		 2024
£
5,070
146,639
151,709
(28,098)		 £
7,613
796,000
803,613
123,611
927,224
799,800
96,269
31,155
927,224		 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

The financial statements were approved by the trustees on 5 February 2025

Mr R I Elliott Trustee

Mr S P Baker Trustee

THE PICKWELL FOUNDATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 5 APRIL 2024

Notes
Cash flows from operating activities
Cash generated from operations
25
Investing activities
Purchase of tangible fixed assets
Purchase of investment property
Investment income received
Net cash generated from/(used in) investing
activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Relating to:
Cash at bank and in hand
Bank overdrafts included in creditors payable
within one year		 2024
£
(1,229)
-
11,416		 2023
£
£
£
10,410
826,017
(10,634)
(765,000)
3,816
10,187
(771,818)
-
-
20,597
54,199
126,042
71,843
146,639
126,042
146,639
126,057
-
(15)

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

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 or grantors 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 2024

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:

Plant and equipment 20% straight line 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.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

(Continued)

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.

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
2024
2024
2024
£
£
£
Donations and gifts
151,316
17,807
-
Grants received
2,000
492,028
-
Donated goods and services
-
-
-
153,316
509,835
-
For the year ended 5 April 2023
98,233
403,194
765,000		 Total
2024
£
169,123
494,028
-
663,151		 Total
2023
£
109,467
391,960
765,000
1,266,427
1,266,427

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

4 Income from other trading activities

Restricted Restricted
funds funds
2024 2023
£ £
Fundraising events - 6,384
5 Investments
Unrestricted **Restricted ** Endowment Total Total
funds funds funds
general
2024 2024 2024 2024 2023
£ £ £ £ £
Rental income - - 11,400 11,400 3,800
Interest receivable 9 7 - 16 16
9 7 11,400 11,416 3,816
For the year ended 5 April 2023 - 16 3,800 3,816
6 Other income
Unrestricted Restricted Total Total
funds funds
2024 2024 2024 2023
£ £ £ £
Other income 529 529 1,058 -
For the year ended 5 April 2023 - - -
7 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Other fundraising costs 385 -

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

8 Charitable activities

Charitable Charitable
Expenditure Expenditure
2024 2023
£ £
Staff costs 55,412 9,505
Depreciation and impairment 2,211 2,039
Training 197 -
Accountancy - 4,440
Bank charges - 534
Event costs 3,123 2,563
Subscriptions 343 47
Travel 9,767 3,616
Sundry 1,217 981
Admin & advertising 8,542 -
Bideford CS Group 20 -
Asylum dispersal support - 18,676
Fullabrook expenses (Humanitarian Support) 6,305 -
Leys Road - 3,483
CCW expenses 1,577 3,553
ICW expenses 1,283 2,053
TCW expenses 3,988 5,156
CMCW expenses 5,101 10,591
RIA expenses 31 16,708
Insurance 611 -
Community sponsorship - 32,686
Computer expenses 259 174
Homes for Ukraine 299,118 221,896
Bishops Tawton expenses 190 204
South Molton expenses 181 15
Afghan Scheme 107,351 5,559
Legal and Professional fees (43) -
Staff entertaining 405 -
Staff meetings 657 -
Telephone 340 -
Repairs 14,408
Humanitarian 2,331
524,925 344,479
Grant funding of activities (see note 9) 142,029 115,501
666,954 459,980
Analysis by fund
Unrestricted funds 239,921 147,159
Restricted funds 427,033 312,821
666,954 459,980

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

9 Grants payable

Charitable Charitable
Expenditure Expenditure
2024 2023
£ £
Grants to institutions:
Amigos 9,167 5,000
Doctors of the World 9,167 5,000
Grants under £500 - 717
Freedom From Torture 9,000 1,000
Encompass South West 3,000 2,750
Green Alliance 9,000 1,000
Greenbelt Festival 10,000 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
Synergy 5,829 5,833
Plasttic Free North Devon - 500
Uplift 10,000 10,000
Environmental Funders Network 1,500 1,500
Peers for the Planet 9,166 9,167
Students Organising for Sutsainability UK - 5,000
CEE BILL Alliance 4,000 -
Clientearth 25,000 -
Finance Innovation 10,000 -
New Economics 10,000 -
Regen SW 1,000 -
Devon & Cornwall Refugee Support 500 -
More in Common 10,000 -
The Salvation Army 700 -
The Message Trust 5,000 -
142,029 115,501

Commitments

The Charity has made grant commitments totalling £197,159 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.

For full conflict of interests statement see attached trustees report.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

10 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements - -
Depreciation of owned tangible fixed assets 2,211 2,039

11 Trustees

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

12 Employees

Number of employees

The average monthly number of employees during the year was:

Employees
Employment costs
Wages and salaries		 2024
Number
15
2024
£
380,215		 2023
Number
10
2023
£
208,963

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

13 Gains and losses on investments

Endowment Endowment
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investment properties 31,000 -

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

15
Tangible fixed assets
Plant and
equipment
Computers
£
£
Cost
At 6 April 2023
-
10,634
Additions
1,229
-
At 5 April 2024
1,229
10,634
Depreciation and impairment
At 6 April 2023
-
2,039
Depreciation charged in the year
52
2,159
At 5 April 2024
52
4,198
Carrying amount
At 5 April 2024
1,177
6,436
At 5 April 2023
-
8,595
16
Investment property
Fair value
At 6 April 2023
Net gains or losses through fair value adjustments
At 5 April 2024		 Total
£
10,634
1,229
11,863
2,039
2,211
4,250
7,613
8,595
2024
£
765,000
31,000
796,000

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.

2024 2023
£ £
Freehold 796,000 765,000

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

17
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
18
Loans and overdrafts
Bank overdrafts
Payable within one year
19
Creditors: amounts falling due within one year
Notes
Bank overdrafts
18
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2024
£
-
5,070
5,070
2024
£
-
-
2024
£
-
18,247
6,851
-
3,000
28,098		 2023
£
4,000
1,092
5,092
2023
£
15
15
2023
£
15
11,453
643
1,695
3,000
16,806

20 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

At 6 April Incoming Transfers Gains and At 5 April
2023 resources losses 2024
£ £ £ £ £
Permanent endowments
768,800 11,400 (11,400) 31,000 799,800

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

20 Endowment funds (Continued)
Previous year: At 6 April Incoming Transfers Gains and At 5 April
2022 resources losses 2023
£ £ £ £ £
Permanent endowments
- 768,800 - - 768,800

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
6 April 2022
r
£
Ilfracombe Community Welcome
1,664
Chulmleigh Community Welcome
4,943
Taw Community Welcome
8,688
Combe Martin Community Welcome
9,903
Resettle in Appledore
14,274
The Shapiro Foundation
28,520
South Molton Community Welcome
-
Bishops Tawton Community Welcome
-
Homes for Ukraine
-
Asylum Dispersal
-
Humanitarian Support (Asylum)
-
Ukraine (Devon Community Foundation
Grant)
-
Afghan Scheme
-
Bideford Welcome
-
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
6 April 2023
r
£
£
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		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
(1,283)
(593)
(1,577)
-
(3,987)
250
(5,101)
-
(31)
-
-
6,115
(181)
891
(190)
366,941
(292,506)
-
-
-
(6,305)
-
(8,500)
125,616
(107,352)
11,151
(20)
510,371
(427,033)		 Transfers
Balance at
5 April 2024
£
£
16
99
-
1,601
15
-
-
321
(3,783)
-
-
-
1,715
7,634
-
11,753
(62,400)
66,025
(10,984)
-
(195)
-
-
-
(15,000)
(2,295)
-
11,131
(90,616)
96,269

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

21 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.

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

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

21 Restricted funds

(Continued)

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

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 Relocation and Assistance Policy. Grant funding is received from North Devon District Council for this programme.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 6 April Incoming Resources Transfers At 5 April
2023 resources expended 2024
£ £ £ £ £
General funds 15,591 153,854 (240,306) 102,016 31,155
Previous year: At 6 April Incoming Resources Transfers At 5 April
2022 resources expended 2023
£ £ £ £ £
General funds 3,299 98,233 (147,159) 61,218 15,591

23 Analysis of net assets between funds

Unrestricted
Restricted
Endowment
funds
funds
funds
2024
2024
2024
£
£
£
At 5 April 2024:
Tangible assets
1,985
5,628
-
Investment properties
-
-
796,000
Current assets/(liabilities)
29,170
90,641
3,800
31,155
96,269
799,800
Unrestricted
Restricted
Endowment
funds
funds
funds
2023
2023
2023
£
£
£
At 5 April 2023:
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
2024
£
7,613
796,000
123,611
927,224
Total
2023
£
8,595
765,000
114,343
887,938

24 Related party transactions

Transactions with related parties

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

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

24 Related party transactions

(Continued)

Donations totalling £138,800 were received from related parties during the period (2023: £62,000). These comprised £33,000 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 (2023: £62,000), £1,800 received from Mr R Elliott, the Trustee (2023: £nil) and £104,000 received from Eden Sustainable Ltd, the shareholders of which are Mr S Baker, Mrs S Baker, Mr R Elliott and Mrs T Elliott, Trustees of the charity (2023: £nil).

25 Cash generated from operations

Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investment properties
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
Increase in creditors
Cash generated from operations		 2024
£
39,286
(11,416)
(31,000)
2,211
22
11,307
10,410		 2023
£
816,647
(3,816)
-
2,039
(1,094)
12,241
826,017