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← The Pickwell Foundation

2025-04-05-accounts

Charity registration number 1149424 (England and Wales)

THE PICKWELL FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

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 - 8
Independent examiner's report 9
Statement of financial activities 10 - 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 27

THE PICKWELL FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

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

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:

Achievements and performance

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. Our settlement work has also continued to expand geographically to other regions nationally and continues to focus on influencing and shaping national policy on safe and legal routes to resettlement.

The National Framework for our work - how local resettlement influences national policy

The Foundation leverages our frontline resettlement work to influence national policy by converting our practical - learning from community led welcome into credible models for government. As one of the UK’s early adopters of Community Sponsorship, the Foundation has built deep expertise in rural resettlement, demonstrating how volunteer-led, place-based support can achieve strong outcomes for refugee families. Through the delivery of our programmes, principally through our local Welcome Hub, we can generate evidence on what effective, compassionate resettlement looks like in practice. These insights can become prototypes for national models, showing policymakers how community infrastructure can be scaled safely and sustainably.

This local practice also feeds directly into national system design through the Foundation’s formal roles within - - government advisory structures. For example, Trustee and Co Founder Susannah Baker helped to co design the Homes for Ukraine scheme by applying learning from Community Sponsorship to a vastly larger national programme—contributing to a model that received global recognition and led to her being awarded an MBE. Susannah continues to influence policy through the Core Delivery Group and the Home Office’s Resettlement Strategic Engagement Group helping to ensure that policy reflects real-life delivery conditions.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

A distinctive part of the Foundation’s influence comes from embedding lived experience at every level of design and advocacy. Our Ambassadors of Lived Experience—Syrian, Afghan, and Ukrainian—inform service design, support individuals and families, and advocate on issues affecting the communities we support. A regular Ambassador Group ensures lived experience shapes programming across the organisation. Research partnerships, including with the University of Birmingham, further strengthens the evidence base for safe and - community led pathways, amplifying insights derived from experience.

Finally, the Foundation helps build national infrastructure and unified advocacy networks that translate local - action into political momentum. By chairing the Community Sponsorship Alliance and co chairing the Welcome Coalition, Susannah can help connect scores of frontline groups to a single, coherent policy voice. Our - partnerships with public narrative organisations such as IMIX, More in Common, Neighbourly Lab, COMPAS, Citizens UK, and Good Faith Partnership help to build public consent for community-led resettlement routes. Parliamentary engagement—including organised Community Sponsorship events —keep MPs focused on the benefits of community sponsorship.

Our Model of Working

The Pickwell Foundation focuses on practical action, working towards a more welcoming and resilient society. We believe that when newcomers belong, communities flourish. With 10 years of experience in communitybased resettlement, we have come to recognise the importance of four pillars of support that are essential for successful resettlement. These four pillars underpin all our programmes of work:

Pillar 1 - English Language Acquisition

English for Speakers of Other Languages (ESOL) classes provide not only essential language skills, but also community, confidence, and connection. We recognise that developing English language skills is vital for unlocking education, employment, and greater independence. Our ESOL provision focuses on contextual, everyday language that helps people navigate key areas such as education, work, health, housing, and transport.

We are supported by a highly skilled team of staff and volunteers who have completed recognised CELTA training and are committed to delivering creative, dynamic lessons, conversations, and activities that support effective learning.

Pillar 2 - Health & Wellbeing

Many of the people we support have experienced significant hardship and trauma, placing strain on their physical and/or mental health. All our case workers, staff, and volunteers are trained to work holistically using a trauma-informed approach to support everyone’s wellbeing. We also design specific days, programmes, and activities that bring people together and support their wellbeing. These include walks, gardening, sewing, cookery, surfing, beach days, and more.

Pillar 3 - Housing

Stable, secure housing is essential to provide the foundation needed to thrive. In the context of a challenging local housing environment, hosting provides a particularly powerful form of housing support. Our programmes rely on many hosts, including:

Beyond hosting, we work closely with social landlords and estate agents to unlock housing options at below-market LHA levels. We also partner with housing agency Homemade (Pickwell) to develop innovative and sustainable housing solutions for individuals and families. In 2026, The Foundation plans to open a HMO for people recently granted asylum.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Pillar 4- Employment

We recognise that meaningful employment plays a central role in building secure, independent lives and fostering a sense of belonging. Our focus is on helping people gain the skills, training, and opportunities needed to secure stable work. This includes working closely with the DWP to host employment sessions at our hub. ESOL lessons also frequently incorporate workplace scenarios, supporting learners to build effective communication skills, understand expectations, and approach job applications with confidence. Alongside this, we ensure a member of our staff team has the responsibility of overseeing employment opportunities and connecting jobs to those who we support. This has been incredibly successful with 94% of our Afghan men in employment, compared to the national average of 2%. Our community ambassadors also engage with potential employers to break down barriers, challenge misconceptions, and highlight the value that diverse lived experience brings to the workplace.

The Hub Model

In February 2025 the Foundation made the switch to a hub-based model, moving into a new space which provides a welcome hub for all the communities we support. We have named it Settle, and it provides a safe environment for casework and signposting assistance for everyone we support. It provides the context in which the work of the 4 pillars can take place – English language learning, supporting well-being, access to housing and employment. It is also a focal point for all our programmes of work. By taking a place-based approach, we can further strengthen the connections between the people and families we support, as well as increase cohesion and integration within the local community.

Review of the Year

Update on on our main programmes of work:

1) Homes for Ukraine Scheme

This financial year marks the third year of our grant funding from North Devon and Torridge District Councils to - provide support to Ukrainians and their hosts. The two district councils have provided per capita grant funding for individuals accommodated locally under the Homes for Ukraine Scheme. Since the scheme began in 2022, we have supported more than 400 Ukrainian guests. Typical support included:

This year we welcomed 40 new arrivals under the scheme, whilst continuing to support existing guests in their second and third years in the UK. We also supported 15 re-matches with new sponsors, 19 moves into local private rented accomodation, and 9 supported moves out of the area.

We had some positive news this year: as of 4 February 2025, the Government granted an 18-month extension to the scheme under the Ukraine Permission Extension, offering guests a degree of stability. However, with no end to the war in sight, significant uncertainty remains. We also face the challenge of offering the necessary ongoing support in the context of significantly reducing funding for the scheme.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

2) Afghan Relocations and Assistance Policy Scheme (ARAP) / Afghan Resettlement Programme (ARP)

The ARAP scheme provides resettlement support in the UK for Afghan families whose members assisted the British military during operations in Afghanistan. On 1 March 2025, the Government integrated ARAP into the wider Afghan Resettlement Programme (ARP). Under this programme, North Devon District Council granted us funding to support families relocated to the military base in Chivenor (Braunton). Nationally, the scheme provides the local authority with three years of central government funding, reducing each year, and North Devon Council - passes on a proportion of this funding to us on a per capita basis following the same pattern.

Having welcomed our first nine families last year (in 2023/2024), we welcomed a further nine this year (in 2024/2025), bringing the total to 18 families (80 individuals). Our comprehensive resettlement programme includes house preparation; welcome and orientation; benefits and financial guidance; employment and training support; access to services including health and education; language and ESOL provision; and the wider support required for full social integration and independence.

Highlights this year included: strong progress in ESOL classes—particularly among women; support for individuals gaining qualifications that help bridge the gap to local employment; the excellent progress of 38 children integrating into local schools; and the distribution of 86 upcycled bikes through our Pickwell Pedals Programme.

3) Asylum Dispersal Support and New Beginnings

This growing area of work supports people seeking asylum and those recently granted a positive asylum decision. Following our work supporting residents at a local asylum dispersal hotel in 2022–2023, Government policy has shifted away from hotel use toward Houses in Multiple Occupation (HMOs). Several such dispersal properties have now opened across North Devon and Torridge.

While our hub provides support to asylum seekers residing in Home Office accommodation, our most intensive work begins once individuals receive refugee status and are required to leave accommodation at short notice. This programme we call 'New Beginnings'.

Those with newly granted refugee status need support navigating complex processes involving bank accounts, benefits, employment, and—critically—securing stable housing. Many are young and have experienced trauma from war, conflict, persecution, and challenging journeys to the UK, so they often have complex needs. Yet we also witness remarkable resilience, generosity, and a strong desire to contribute to their new communities.

This year, the New Beginnings programme provided casework support to 41 people seeking sanctuary, plus 11 dependent children. The work included: support for placements in homes with hosts through the Being Home programme (totalling 1,155 nights of hosting); the establishment of a regular New Beginnings Hub—which subsequently was integrated into our permanent hub, Settle; and engagement with landlords and agents to - secure long term accommodation and prevent homelessness among those seeking or newly granted asylum.

4) Community Sponsorship

This year we continued our role as a Principal Sponsor for the Government’s Community Sponsorship Scheme. - Our work included forming new sponsorship groups, supporting groups during their two year formal commitment to resettled families, and assisting groups transitioning beyond their initial period to support families towards greater independence. Following last year’s strategic decision to expand our support as principal sponsor beyond Devon and the South-West, we have also taken on more of a national role.

Key highlights from this year included:

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

In July 2022, the Foundation was bequeathed a property for housing refugees resettling in Cambridge. This property continues to be used by a family who were supported to resettle by Resettle Chesterton, community sponsorship group. The Foundation continues to receive rent from the family at the Local Housing Allowance rate.

5) Communities for Afghans (starting October 2025)

At the end of this reporting period, in March 2025, the Ministry of Housing, Communities and Local Government (MHCLG) launched Phase 2 of the Communities for Afghans (CFA) Programme. Based on a community sponsorship model, the programme will enable the resettlement of 500 Afghan families and individuals, who have been waiting since August 2021 for permanent homes in the UK.

We submitted a successful consortium bid to resettle 125 families across the UK by 2031, beginning in October 2025. The Pickwell Foundation is the lead organisation for a consortium of four charities with extensive - experience in community led refugee resettlement: Charis Refugees, Caritas Northwest Network, and The Social Justice Network (Church of England). The programme aims to:

Our objectives to deliver this include:

Sponsorship groups are central to this programme. Each group will:

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 from which it also received some income (further details below).

Grant Making

In the context of declining annual funding from the Homes for Ukraine and Afghan Relocations and Assistance Policy schemes, the trustees took the decision in April 2024, to pause new grants until we have greater financial certainty over our income and staff commitments. We have continued to honour all our financial commitments to our existing grantees during 2024 – 2025 as outlined below.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

The Climate Crisis

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:

Following our grant sponsorship of the ‘Hothouse’, an environmental and climate talks venue at the Greenbelt Art Festival in previous years, we once again supported the venue in 2024. The space hosted climate-focused talks by day, bringing together leading climate thinkers, activists and people with lived experience of - displacement. By night, the space became a joyful dance venue by night, helping festival goers engage with environmental justice in a hopeful, energising way.

Displaced People

As our direct programmes of work to support displaced people has grown, we have stopped new grants giving to external organisations in this sector. A couple of legacy grants remains:

Whilst our grants in this programme have generally focused on supporting organisations working specifically with refugees or asylum seekers, we had 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 the final stage of a three year grant to Synergy Theatre Projects; and continued support for Encompass Southwest, which works on housing solutions for vulnerable groups in North Devon.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Declarations of interest

During this financial year, the following declarations of interest were made in relation to grants. Regarding the grant given to Green Alliance, it as 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 may arise with their Directorships and financial interest in the housing provider 'Homemade (Pickwell) Ltd'; the commercial solar company 'Eden Sustainable Ltd' and the holiday accomodaiton provider 'Pickwell Manor Ltd'. The mitigation of these potential conflicts of interest is managed in accordance with the Charity Commission's guidance (CC29), including the use of conflict-of-interest register and as guided by its conflict-of-interest policy and procedures.

Financial review

The charity received income in the year totalling £657,663 (2024: £675,625). The funds held at the end of the period stood at £880,629 (2024: £927,224). 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

Whilst new grants have been frozen since April 2024. Usually, the Trustees consider proposals for distribution at periodic intervals, with six to eight Trustees meetings each year, where grant funding proposals can be 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 Charity’s principal sources of funds

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 and 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. It has a covenant which specify its use to house refugees for a period of 15 years and restricting its sale during this period up to 2037.

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.

THE PICKWELL FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

The Charities Organisational Structure and wider networks with which it works

During this financial year the charity was led by five trustees. At the end of 2024/2025 financial year, it had 16 staff (10.8 FTE) all of which were working on the Foundation’s refugee and asylum programmes. We have a staff structure with an Operations Manager who manages the designated Leads for each programme of work.

Susannah Baker co-chairs the national Community Sponsorship Alliance; is a member of the Home Office’s Resettlement Strategic Engagement Group (RSEG) and its Core Delivery Group and worked closely with the Department for Levelling Up to shape the Homes for Ukraine Scheme.

We are a member of the Environmental Funders Network (EFN) and the Association of Charitable Foundations (ACF).

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: 4 February 2026

Mr S P Baker Trustee Dated:4 February 2026

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 2025.

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: 4 February 2026

THE PICKWELL FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2025

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2025
2025
2025
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
110,794
530,180
-
Investments
4
-
16
13,500
Other income
5
3,173
-
-
Total income and endowments
113,967
530,196
13,500
Expenditure on:
Raising funds
6
871
-
-
Charitable activities
7
218,466
484,921
-
Total expenditure
219,337
484,921
-
Net gains/(losses) on investments
11
-
-
-
Net (outgoing)/incoming resources
before transfers
(105,370)
45,275
13,500
Gross transfers between funds
107,193
(93,693)
(13,500)
Net movement in funds
1,823
(48,418)
-
Fund balances at 6 April 2024
31,155
96,269
799,800
Fund balances at 5 April 2025
32,978
47,851
799,800		 Total
2025
£
640,974
13,516
3,173
657,663
871
703,387
704,258
-
(46,595)
-
(46,595)
927,224
880,629		 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

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 2025

Prior financial year

Unrestricted
Restricted Endowment
funds
funds
funds
2024
2024
2024
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
153,316
509,835
-
Investments
4
9
7
11,400
Other income
5
529
529
-
Total income and endowments
153,854
510,371
11,400
Expenditure on:
Raising funds
6
385
-
-
Charitable activities
7
239,921
427,033
-
Total expenditure
240,306
427,033
-
Net gains/(losses) on investments
11
-
-
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

THE PICKWELL FOUNDATION

BALANCE SHEET

AS AT 5 APRIL 2025

Notes
Fixed assets
Tangible assets
13
Investment property
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the charity
Endowment funds
17
Restricted income funds
18
Unrestricted funds
19		 2025
£
1,393
98,381
99,774
(19,963)		 £
4,818
796,000
800,818
79,811
880,629
799,800
47,851
32,978
880,629		 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

The financial statements were approved by the trustees on 4 February 2026

Mr R I Elliott Trustee

Mr S P Baker Trustee

THE PICKWELL FOUNDATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 5 APRIL 2025

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
22
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from investing activities
Net cash generated from financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
-
1,177
13,516		 £
(62,951)
14,693
-
(48,258)
146,639
98,381		 2024
£
(1,229)
-
11,416		 £
10,410
10,187
-
20,597
126,042
146,639

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

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 2025

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 2025

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
funds
funds
2025
2025
£
£
Donations and gifts
104,474
4,739
Grants received
6,320
525,441
110,794
530,180
For the year ended 5 April 2024
153,316
509,835		 Total
2025
£
109,213
531,761
640,974		 Total
2024
£
169,123
494,028
663,151
663,151

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

4 Investments

Unrestricted **Restricted ** Endowment Total Total
funds funds funds
general
2025 2025 2025 2025 2024
£ £ £ £ £
Rental income - - 13,500 13,500 11,400
Interest receivable - 16 - 16 16
- 16 13,500 13,516 11,416
For the year ended 5 April 2024 9 7 11,400 11,416
5 Other income
Unrestricted Restricted Total Total
funds funds
2025 2025 2025 2024
£ £ £ £
Other income 3,173 - 3,173 1,058
For the year ended 5 April 2024 529 529 1,058
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 871 385

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

7 Charitable activities

Charitable Charitable Charitable Charitable
Expenditure Expenditure
2025 2024
£ £
Staff costs 52,195 55,412
Depreciation and impairment 1,618 2,211
Training 804 197
DCC ESOL expenses 7,749 -
Food, Fuel and More expenses 7,031 -
Hub expenses 8,679 -
Event costs 2,401 3,123
Subscriptions - 343
Travel 9,144 9,767
Sundry 89 1,217
Admin & advertising 113 8,542
Bideford CS Group 11,569 20
CSA Funds expenses 1,587 -
Fullabrook expenses (Humanitarian Support) - 6,305
UB Philantropy expenses 1,557 -
CCW expenses 1,595 1,577
ICW expenses - 1,283
TCW expenses - 3,988
CMCW expenses 337 5,101
RIA expenses - 31
Insurance - 611
Computer expenses 35 259
Homes for Ukraine 231,244 299,118
Bishops Tawton expenses 45 190
South Molton expenses 183 181
Afghan Scheme 211,928 107,351
Legal and Professional fees - (43)
Staff entertaining 833 405
Staff meetings 1,078 657
Telephone 140 340
Repairs 3,303 14,408
Humanitarian 7,412 2,331
562,669 524,925
Grant funding of activities (see note 8) 140,718 142,029
703,387 666,954
Analysis by fund
Unrestricted funds 218,466 239,921
Restricted funds 484,921 427,033
703,387 666,954

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

8 Grants payable

Charitable
Expenditure
Charitable
Expenditure
2025
2024
£
£
Grants to institutions:
Amigos
10,000
9,166
CEE BILL Alliance
1,000
4,000
Clientearth
30,000
25,000
Devon & Cornwall Refugee Support
-
500
Doctors of the World
10,000
9,167
Encompass South West
3,000
3,000
Environmental Funders Network
1,575
1,500
Finance Innovation
-
10,000
Freedom from Torture
-
9,000
Green Alliance
12,000
9,000
Greenbelt Festival
24,000
10,000
More in Common
-
10,000
New Economics
-
10,000
Peers for the Planet
4,167
9,167
Regen SW
9,000
1,000
Synergy
4,976
5,829
The 10 10 Foundation
6,000
-
The Message Trust
1,000
5,000
The Salvation Army
-
700
Uplift
24,000
10,000
140,718
142,029		 Charitable
Expenditure
Charitable
Expenditure
2025
2024
£
£
Grants to institutions:
Amigos
10,000
9,166
CEE BILL Alliance
1,000
4,000
Clientearth
30,000
25,000
Devon & Cornwall Refugee Support
-
500
Doctors of the World
10,000
9,167
Encompass South West
3,000
3,000
Environmental Funders Network
1,575
1,500
Finance Innovation
-
10,000
Freedom from Torture
-
9,000
Green Alliance
12,000
9,000
Greenbelt Festival
24,000
10,000
More in Common
-
10,000
New Economics
-
10,000
Peers for the Planet
4,167
9,167
Regen SW
9,000
1,000
Synergy
4,976
5,829
The 10 10 Foundation
6,000
-
The Message Trust
1,000
5,000
The Salvation Army
-
700
Uplift
24,000
10,000
140,718
142,029		 Charitable
Expenditure
Charitable
Expenditure
2025
2024
£
£
Grants to institutions:
Amigos
10,000
9,166
CEE BILL Alliance
1,000
4,000
Clientearth
30,000
25,000
Devon & Cornwall Refugee Support
-
500
Doctors of the World
10,000
9,167
Encompass South West
3,000
3,000
Environmental Funders Network
1,575
1,500
Finance Innovation
-
10,000
Freedom from Torture
-
9,000
Green Alliance
12,000
9,000
Greenbelt Festival
24,000
10,000
More in Common
-
10,000
New Economics
-
10,000
Peers for the Planet
4,167
9,167
Regen SW
9,000
1,000
Synergy
4,976
5,829
The 10 10 Foundation
6,000
-
The Message Trust
1,000
5,000
The Salvation Army
-
700
Uplift
24,000
10,000
140,718
142,029
2025
£
10,000
1,000
30,000
-
10,000
3,000
1,575
-
-
12,000
24,000
-
-
4,167
9,000
4,976
6,000
1,000
-
24,000
140,718		 2024
£
9,166
4,000
25,000
500
9,167
3,000
1,500
10,000
9,000
9,000
10,000
10,000
10,000
9,167
1,000
5,829
-
5,000
700
10,000
142,029

The Charity has made grant commitments totalling £83,827 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.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. One trustee was reimbursed a total of £3,473 for expenses incurred in the year (2024 - £Nil).

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

10 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employees
The average monthly number of employees during the year was:
Employees
Employment costs
Wages and salaries		 2025
Number
17
2025
£
440,510		 2024
Number
15
2024
£
380,215

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

11 Gains and losses on investments

Endowment Endowment
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investment properties - 31,000

12 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 2025

13
Tangible fixed assets
Plant and
equipment
Computers
£
£
Cost
At 6 April 2024
1,229
10,634
Disposals
(1,229)
-
At 5 April 2025
-
10,634
Depreciation and impairment
At 6 April 2024
52
4,198
Depreciation charged in the year
-
1,618
Eliminated in respect of disposals
(52)
-
At 5 April 2025
-
5,816
Carrying amount
At 5 April 2025
-
4,818
At 5 April 2024
1,177
6,436
14
Investment property
Fair value
At 6 April 2024 and 5 April 2025		 Total
£
11,863
(1,229)
10,634
4,250
1,618
(52)
5,816
4,818
7,613
2025
£
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.

Freehold
15
Debtors
Amounts falling due within one year:
Other debtors		 2025
£
796,000
2025
£
1,393		 2024
£
796,000
2024
£
5,070

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
6,595
9,256
332
3,780
19,963		 2024
£
18,247
6,851
-
3,000
28,098

17 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
2024 resources losses 2025
£ £ £ £ £
Permanent endowments
799,800 13,500 (13,500) - 799,800
Previous year: 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 2025

18 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.

At 6 April Incoming Resources Transfers At 5 April
2024 resources expended 2025
£ £ £ £ £
Ilfracombe Community
Welcome 99 - - - 99
Chulmeigh Community
Welcome 1,601 16 (1,595) - 22
Combe Martin Community
Welcome 321 - (336) 15 -
South Molton Community
Welcome 7,634 1,211 (183) - 8,662
Bishops Tawton Community
Welcome 11,753 (4,500) (46) (7,207) -
Bideford Welcome 11,131 4,810 (11,569) - 4,372
Homes for Ukraine 66,023 221,644 (181,647) (86,501) 19,519
Afghan Scheme 1,342 267,529 (255,884) - 12,987
Afghan Arrivals (3,635) 2,731 (4,220) - (5,124)
ARAP ESOL - - (338) - (338)
Brislington - 31 - - 31
CSA Funds - 8,944 (3,144) - 5,800
DCC ESOL - 12,780 (10,249) - 2,531
Food, Fuel + More - 15,000 (7,031) - 7,969
Hub - - (8,679) - (8,679)
96,269 530,196 (484,921) (93,693) 47,851

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

18 Restricted funds (Continued)
Previous year: At 6 April Incoming Resources Transfers At 5 April
2023 resources expended 2024
£ £ £ £ £
Ilfracombe Community
Welcome 1,366 - (1,283) 16 99
Chulmleigh Community
Welcome 3,771 (593) (1,577) - 1,601
Taw Community Welcome 3,972 - (3,987) 15 -
Combe Martin Community
Welcome 5,172 250 (5,101) - 321
Resettle in Appledore 3,814 - (31) (3,783) -
South Molton Community
Welcome (15) 6,115 (181) 1,715 7,634
Bishops Tawton Community
Welcome 11,052 891 (190) - 11,753
Homes for Ukraine 53,990 366,941 (292,506) (62,400) 66,025
Asylum Dispersal 10,984 - - (10,984) -
Humanitarian Support (Asylum) 6,500 - (6,305) (195) -
Ukraine (Devon Community
Foundation Grant) 8,500 - (8,500) - -
Afghan Scheme (5,559) 125,616 (107,352) (15,000) (2,295)
Bideford Welcome - 11,151 (20) - 11,131
103,547 510,371 (427,033) (90,616) 96,269

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

18 Restricted funds

(Continued)

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.

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.

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 & Arrivals - 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. Future income will be received after the year end for this fund.

ARAP ESOL - ESOL funds for the Afghan Relocation and Assistance Policy Programme (now ARP Programme). Future income will be received after the year end for this fund.

Brislington - funds for Brislington Community Sponsorship Group (Bristol).

CSA Funds - funds for Community Sponsorship Alliance.

DCC ESOL - funds from Devon County Council for ESOL lessons.

Food, Fuel + More - funding from Devon Community Foundation for food, fuel and related support.

Hub - funding for the Foundation's 'Welcome Hun' in Barnstaple. Future income will be received after the year end for this fund.

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

19 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
2024 resources expended 2025
£ £ £ £ £
General funds 31,155 113,967 (219,337) 107,193 32,978
Previous year: 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

20 Analysis of net assets between funds

Unrestricted
Restricted
Endowment
funds
funds
funds
2025
2025
2025
£
£
£
At 5 April 2025:
Tangible assets
603
4,215
-
Investment properties
-
-
796,000
Current assets/(liabilities)
31,575
44,436
3,800
32,178
48,651
799,800
Per balance sheet
32,978
47,851
799,800
Balance to allocate
800
(800)
-
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		 Total
2025
£
4,818
796,000
79,811
880,629
880,629
-
Total
2024
£
7,613
796,000
123,611
927,224

THE PICKWELL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

21 Related party transactions

Transactions with related parties

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

Donations totalling £60,000 were received from related parties during the period (2024: £138,800). These comprised £Nil 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 (2024: £33,000), £Nil received from Mr R Elliott, the Trustee (2024: £1,800) and £60,000 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 (2024: £104,000).

22 Cash (absorbed by)/generated from operations 2025 2024
£ £
(Deficit)/surplus for the year (46,595) 39,286
Adjustments for:
Investment income recognised in statement of financial activities (13,516) (11,416)
Fair value gains and losses on investment properties - (31,000)
Depreciation and impairment of tangible fixed assets 1,618 2,211
Movements in working capital:
Decrease in debtors 3,677 22
(Decrease)/increase in creditors (8,135) 11,307
Cash (absorbed by)/generated from operations (62,951) 10,410