Charity registration number: 1153924 

## **THE PILSDON COMMUNITY** 

# **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 


Chartered Accountants 



**THE PILSDON COMMUNITY** 

## **CONTENTS** 

|Legal and administrative information|1|
|---|---|
|Report of the Trustees|2 to 4|
|Report of the Chairman|5 to 7|
|Independent Auditors' Report|8 to 10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Cash Flow Statement|13|
|Notes to the Financial Statements|14 to 27|
|Non-statutory pages|28 to 29|





**THE PILSDON COMMUNITY** 

**LEGAL AND ADMINISTRATIVE INFORMATION** 

## **Trustees** 

Mrs Amanda Streatfeild, Chairman Els Jolly Tim Luckett Dr Christopher Stoot (appointed 15 November 2023) Rev Edwin Howson (resigned 29 November 2023) 

## **Principal Officers Warden and Secretary to the Trustees** 

Rev Sue Langdon (left 31 October 2023) 

Nigel Fry (appointed 12 September 2023 and left 23 January 2024) 

**Community members at Pilsdon** Rev Sue Langdon (left 31 October 2023) **Manor at 31 March 2024** Mary Davies James Newman Kathryn Brookes (left 22 May 2023) 

Lisselle Clarke-Moisley (left 31 December 2023) Nigel Fry (joined 1 July 2023 and left 23 January 2024) Mary Fry (joined 1 July 2023 and left 23 January 2024) 

**Business address** Pilsdon Manor Pilsdon Bridport Dorset DT6 5NZ **Charity Registration Number** 1153924 **Solicitors** Scott Rowe Chard Street Axminster Devon EX13 5DS Michelmores LLP Woodwater House Pynes Hill Exeter EX2 5WR **Bankers** National Westminster Bank plc Victoria Place Axminster Devon EX13 5AR **Auditor** Edwards and Keeping Chartered Accountants Unity Chambers 34 High East Street Dorchester DT1 1HA 

- 1 - 



**THE PILSDON COMMUNITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 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 published in October 2019. 

## **Objectives and activities** 

## _**Public benefit**_ 

The objects of the charity are the formation and maintenance of a community of people who will, from time to time, live together as one family according to the precepts of the Gospels and offering shelter, hospitality and spiritual refreshment to those who, by any reason of poverty, disability, mental or spiritual incapacity or inability to manage their own affairs, are in need of such a refuge without regard to race, gender or creed. 

Accommodation and care are provided for guests (and wayfarers) at Pilsdon Manor in West Dorset. 

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. 

## **Achievements and performance** 

These are detailed in the Report of the Chairman 

## **Financial review** 

## _**Policy on reserves**_ 

Total funds at 31 March 2024 were £3,823,954 including five restricted fund balances. These comprise £4,560 - for the future purchase of land at Pilsdon, Dorset, £200 in relation to the memory shed project, £1,775 for a donated boiler, £263 for a donated defibrillator and a wardens fund of £8,070. The Trustees have also allocated funds to six designated funds as follows: 

(a) A Non-liquid Fixed Assets fund - representing the net value of such assets in the balance sheet. These assets are generally essential to the activities of the charity and cannot be realised without severe detriment to the achievement of the charity's objectives. At 31 March 2024 the fund balance was £3,276,262. 

(b) Operating reserve - held to meet the day to day cash flow requirements. The trustees consider that up to six months' operating costs is a prudent sum. At 31 March 2024 the fund balance was £110,000. 

(c) Contingency fund - held to meet any unforeseen eventuality. At 31 March 2024 the fund balance was £20,000 the trustees are satisfied this level is sufficient for their purposes. 

(d) Development fund - this is used to carry out non-routine maintenance and to finance developments included within the five year financial plan. At 31 March 2024 the fund balance was £150,000. 

(e) Cabin replacement fund- this is a project to build new accommodation for the charity's members. At 31 March 2024 the fund balance was £Nil. 

(f) All remaining funds are allocated to the Manor House designated reserve- this fund is to be used to increase available accommodation for guests. At 31 March 2024 the fund balance was £252,824. 

- 2 - 



**THE PILSDON COMMUNITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## _**Investment policy**_ 

A significant proportion of the monies in the reserves are held in Charities Official Investments Fund (COIF) accumulation units. These investments are subject to the performance of the stock market and can therefore rise or fall in value. Other monies not held in petty cash or current bank accounts are held in COIF Deposit Funds. These earn a relatively attractive rate of interest, are secure and offer easy access to funds to finance non-routine expenditure. 

## **Plans for future periods** 

## _**Aims and key objectives for future periods**_ 

These are detailed in the Report of the Chairman 

## **Structure, governance and management** 

## _**Nature of governing document**_ 

The charity is controlled by its governing document, a Charitable Incorporated Organisation - Foundation Constitution, registered on 24 September 2013. On 1st April 2014 the net assets of The Pilsdon Community (no. 261139) were transferred to this new Charitable Incorporated Organisation. 

## _**Recruitment and appointment of trustees**_ 

Trustees are appointed for a term of normally no more than ten years, with five years being regarded as an appropriate initial commitment. The appointment of trustees is confirmed by the Bishop of Salisbury. The trustees meet at least three times each year to determine policy, review performance, and to make key decisions. 

## _**Day to day management**_ 

The Warden is responsible for day to day management of the Community - taking advice as appropriate from the trustees, other Community members and professional advisors. 

## _**Risk management**_ 

The trustees have identified and scored relevant risks in all areas of the organisations life and organisation (such as Ethos, Personnel, Legal compliance, Safeguarding, Property, IT, Animal welfare). The trustees review and monitor the major risks the charity faces on a regular basis (using a Risk Register) and systems have been established to mitigate those risks. 

The trustees receive regular reports on relevant Fire Precautions and Health & Safety matters. 

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**THE PILSDON COMMUNITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **Statement of Trustees' Responsibilities** 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. 

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The annual report was approved by the trustees of the charity on 5 December 2024 and signed on its behalf by: 

Mrs Amanda Streatfeild Trustee 

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**THE PILSDON COMMUNITY REPORT OF THE CHAIRMAN FOR THE** _**YEAR ENDED 31 MARCH 2024**_ 

## **Aims and objectives** 

The aims and objectives of the charity continue to be the formation and maintenance of a community of people who from time to time will live together as one household united in love and prayer according to the precepts of the Christian Gospels, and offering shelter, hospitality and spiritual refreshment to those who by reason of poverty, disability, mental or spiritual incapacity, or inability to manage their own affairs are in need of such a refuge without regard to gender, race or creed. 

## **Strategies** 

We continued to identify and executed projects that improved the quality of life we offered through upgrading areas within the community to better serve our work and purpose. 

The trustees hold formal meetings four times during the year and each received written reports from the Warden (including Health and Safety), Treasurer and the Operations Manager. The annual accounts were approved at the autumn meeting, and a budget for the coming year agreed at the spring meeting. Formal community policies on our significant responsibilities are reviewed on a cyclical basis. 

There was also an informal 'away day' again with trustees and community members in February. 

## **Governance** 

Over the past year, one Trustee left and a new Trustee has been recruited. Some time was spent preparing re-advertisements and a job description for a new Warden for 2024. Work was done on ensuring all policies and procedures were appropriate and in place. 

## **General activities and achievements.** 

The community members continued to meet four times daily for prayer, to support each other in their spiritual life and worship and supporting the resident guests, and to share a common life. Hospitality is offered to guests, including longer term guests, respite visitors and wayfarers. We also enable guests to set and aspire to goals according to their choice. The value of this way of life and these activities are not very susceptible to measurement. However: 

i We had 17 guests staying with us in the community over the year, although numbers changed with 3 leaving. At the end of the year we had 10 guests in total. At the start of the year there were 5 members. 

ii We had no full-time residential volunteers during the year although we had a few people staying for a few weeks across the year. 

iii We have welcomed Wayfarers (single homeless men and women) for 421 nights in total 

iiii We have also been trusted by the Courts to offer places and have advocated for people on bail. 

We welcome homeless people in cold and hot weather who are referred to us by Dorset council. 

We are extremely fortunate in our relationship with CRASH who support us. CRASH, a building industry charity, which, through its members provided us with advice, many free or at cost building materials. 

We are grateful to individual donors and Grant funding bodies for their generosity. 

- 5 - 



**THE PILSDON COMMUNITY REPORT OF THE CHAIRMAN FOR THE** _**YEAR ENDED 31 MARCH 2024**_ 

## **Personnel.** 

At 31 March 2023 we had 5 community members- 

Rev Susan Langdon (Warden) Mary Davies James Newman Kathryn Brooks Lisselle Clarke-Moisley 

Operations Manager Ms Jane Kilty supports the Warden and Community Members with Operational and Administrative duties. 

## **Voluntary and statutory support** 

Generally, we also have an excellent team of non-residential volunteers who assist with driving, cooking and numerous practical tasks. We are most grateful for their support and the stability they provide to Pilsdon through being able to sustain their commitment over longer periods of time. 

The Warden and Members are exceptionally grateful and proud of the resident Guests who have in their own unique ways made enormous contributions to the thriving of the community. Many of our Guests have made their home here and are a vital and stabilising influence when Wardens and Members arrive and leave. 

We also continue to be very grateful for assistance of former guests and others who come to live in the community for periods to cover community members are away on holiday, retreats or training courses. 

We are grateful for the continued support of the Barton House Medical Centre, The Bridport Community Mental Health Team, Beaminster Pharmacy and ‘Steps to Well-being’ and NHS provided Alcohol & Drug Counselling, Assessment & Prevention. Dorset Council, who continue to support the community, have been particularly helpful providing training in safeguarding, health & safety, and working with vulnerable adults. 

Our thanks to Diocese of Salisbury specialist support and we are pleased to host the Curates annual visit to the community. 

Our good relations with Dorset Police continue and relationships with all the referral agencies continue to develop well. 

We have excellent relationships with our neighbours and the wider community in Bridport. Our extended community who are often also donors, continue to encourage us. We have sent out several newsletters since Easter 2023 to keep them in touch and informed. Please see our website to access the archives and to sign up to receive email copies. 

## **Financial review** 

We continue to be extremely grateful for the generous donations, grants and legacies from so many of our supporters, without which this community could not have survived through 65 years of service. 

Our supporters continue to be generous in their support. Whilst the amounts we received in 2024 (£74,632) was a reduction from the 2022 (£119,262) and 2023 receipts (£326,711), we should remember that 2022 and 2023 benefitted from the additional funds raised to complete the new cabins project. 

Our cash reserves in 2024 (£342,563) remained strong, as they were in 2023 (£371,725). 

There was a relatively small reduction in contributions from guests in 2024 (£158,876) compared to 2023 (£163,072). Guest numbers were reduced in 2024 compared to 2023, with the reduction in the number of members and the need to appoint a new full time warden being the primary causes. With the appointment of Helen Lynch as warden in January 2025 it is expected that this downward trend in guest contributions will be reversed during 2025. 

- 6 - 



**THE PILSDON COMMUNITY REPORT OF THE CHAIRMAN FOR THE** _**YEAR ENDED 31 MARCH 2024**_ 

Our investment income from interest and dividends of £30,096 was an improvement on 2023 (£20,461). 

Looking at other income sources, our shop continues to run on a break-even basis, showing a small surplus in 2024, after a small deficit in 2023, whilst rental income from Bill’s Cottage (2024 £14,340) remains consistent year-on-year (2023 £13,995). 

We saw an increase in the costs of charitable activities to £339,743 (2023 £264,483). Notable increases in 2024 were in Members allowances and pensions (with the increase in member numbers during the year - although 2025 will show a reduction), light and heat (unsurprisingly), repairs and maintenance (unfortunately we cannot predict or control these one-off maintenance costs given most of our buildings are aging), administrator cost (reflecting increased responsibilities) and office expenses (mostly inflationary). 

Overall our balance sheet reduced slightly to £3,823,954 (2023 £3,860,087). Our day-to-day cash reserves remain adequate for the upcoming year. 

## **Plans for the future** 

To find the next Warden and prepare the community for a smooth transition. 

Besides this: 

1 We offered a safe and loving environment to our existing household. Aiming to bring new Guests and have them settle well for as long as is needed and mutually beneficial. We continued to hold the counter cultural ethos of Pilsdon with a commitment to balancing the necessary expenditure of the community with potential loss of income from donors and revenue from a lower number of Guests. 

2 We continue to seek new people willing to serve as part of the Leadership Team. 

3 We continued maintaining links with Pilsdon at Malling, Hilfield Friary and the other communities with a similar ethos. 

4 We continued to be available to those who contact us for support and advice for themselves and their loved ones. This need continues to increase as outside agencies find themselves under more pressure given cuts in their budgets and staff shortages. We are deeply concerned that anyone leaving us, to live on basic Universal Credit because they are not able to work or find suitable work, will be unable to live a decent debt free life. 

5 We continued to be more environmentally sensitive and to be a point of reference in how to live more simply 

. 6 We continued to build mutually rewarding relationships with our close neighbours, the professionals and tradespeople who support the community. 

The annual report was approved by the trustees of the charity on 5 December 2024 and signed on its behalf by: 

Mrs Amanda Streatfeild Trustee 

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**THE PILSDON COMMUNITY** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE PILSDON COMMUNITY** 

## **Opinion** 

We have audited the financial statements of The Pilsdon Community (the 'charity') for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

- In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report, including the trustees' report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustee's report. 

- 8 - 



## **THE PILSDON COMMUNITY** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE PILSDON COMMUNITY** 

We have nothing to report in respect of the following matters to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the trustees' report is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 4), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditor Responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. 

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. 

• we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our knowledge and experience of the charity sector; 

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including legislation, such as the Charities Act 2011, data protection, employment and health and safety legislation. 

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing legal expenses; and 

• identified laws and regulations were communicated to the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

- 9 - 



## **THE PILSDON COMMUNITY** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE PILSDON COMMUNITY** 

We assessed the susceptibility of the chairty's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations 

To address the risk of fraud through management bias and override of controls,we: 

- performed analytical procedures to identify any unusual or unexpected relationships; 

- tested journals entries to identify unusual transactions;and 

- investigated the rational behind significant or unusual transactions; 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 

- agreeing financial statements disclosures to underlying supporting documentation; 

• reading the miniutes of meetings of those charged with governance; 

• enquiring of management as to actual and potential litigation and claims; 

Because of inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. 

This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

Edwards and Keeping, Statutory Auditor 

Unity Chambers 34 High East Street Dorchester DT1 1HA 

11 December 2024 

Edwards and Keeping is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 

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**THE PILSDON COMMUNITY** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** 

|**Note**<br>**Income and Endowments from:**<br>Donations and legacies<br>2<br>Charitable activities<br>3<br>Other trading activities<br>4<br>Investment income<br>5<br>Other income<br>6<br>Total income<br>**Expenditure on:**<br>Raising funds<br>7<br>Charitable activities<br>8<br>Total expenditure<br>Net (expenditure)/income<br>Gross transfers between<br>funds<br>**Other recognised gains**<br>**and losses**<br>Other recognised gains and<br>losses<br>Net movement in funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward<br>21|**Unrestricted**<br>**income**<br>**funds**<br>**£**<br>58,436<br>158,876<br>12,821<br>30,096<br>19,357<br>279,586<br>(12,807)<br>(322,146)<br>(334,953)<br>(55,367)<br>500<br>20,635<br>(34,232)<br>3,843,318<br>3,809,086|**Restricted**<br>**income**<br>**funds**<br>**£**<br>16,196<br>-<br>-<br>-<br>-<br>16,196<br>-<br>(17,597)<br>(17,597)<br>(1,401)<br>(500)<br>-<br>(1,901)<br>16,769<br>14,868|**Total**<br>**2024**<br>**£**<br>74,632<br>158,876<br>12,821<br>30,096<br>19,357<br>295,782<br>(12,807)<br>(339,743)<br>(352,550)<br>(56,768)<br>-<br>20,635<br>(36,133)<br>3,860,087<br>3,823,954|**Total**<br>**2023**<br>**£**<br>326,711<br>163,072<br>13,502<br>20,461<br>6,286|
|---|---|---|---|---|
|||||530,032|
|||||(14,445)<br>(264,483)|
|||||(278,928)|
|||||251,104<br>-<br>(4,512)|
|||||246,592<br>3,613,495|
|||||3,860,087|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 21. 

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**THE PILSDON COMMUNITY** 

## **(REGISTRATION NUMBER: 1153924) BALANCE SHEET AS AT 31 MARCH 2024** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>14<br>Investments<br>15<br>**Current assets**<br>Stocks<br>Debtors<br>16<br>Cash at bank and in hand<br>17<br>**Creditors: Amounts**<br>**falling due within one**<br>**year**<br>18<br>**Net current assets**<br>**Net assets**<br>**Funds of the charity:**<br>**Restricted income funds**<br>**Unrestricted income**<br>**funds**<br>Unrestricted income funds<br>**Total funds**<br>21|**2024**<br>**£**<br>**£**<br>2,778,300<br>700,403<br>3,478,703<br>6,319<br>16,574<br>342,563<br>365,456<br>(20,205)<br>345,251<br>3,823,954<br>14,868<br>3,809,086<br>3,823,954|**2023**<br>**£**<br>**£**<br>2,768,153<br>679,768<br>3,447,921<br>12,283<br>57,177<br>371,725<br>441,185<br>(29,019)<br>412,166<br>3,860,087<br>16,769<br>3,843,318<br>3,860,087|**2023**<br>**£**<br>**£**<br>2,768,153<br>679,768<br>3,447,921<br>12,283<br>57,177<br>371,725<br>441,185<br>(29,019)<br>412,166<br>3,860,087<br>16,769<br>3,843,318<br>3,860,087|
|---|---|---|---|
||||3,447,921<br>412,166|
||||3,860,087|
||||3,860,087|



The financial statements on pages 11 to 27 were approved by the trustees, and authorised for issue on 5 December 2024 and signed on their behalf by: 

Mrs Amanda Streatfeild Trustee 

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**THE PILSDON COMMUNITY** 

## **CASH FLOW STATEMENT** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

|**Note**<br>**Cash flows from operating activities**<br>Net cash (expenditure)/income<br>**Adjustments to cash flows from non-cash items**<br>Depreciation<br>7<br>Investment income<br>5<br>Revaluation of investments<br>**Working capital adjustments**<br>Decrease/(increase) in stocks<br>Decrease/(increase) in debtors<br>16<br>Decrease in creditors<br>18<br>Net cash flows from operating activities<br>**Cash flows from investing activities**<br>Interest receivable and similar income<br>5<br>Purchase of tangible fixed assets<br>14<br>Sale of tangible fixed assets<br>Interest and dividends<br>5<br>Net cash flows from investing activities<br>Net decrease in cash and cash equivalents<br>Cash and cash equivalents at 1 April<br>Cash and cash equivalents at 31 March|**2024**<br>**£**<br>(36,133)<br>36,464<br>(30,096)<br>(20,635)<br>(50,400)<br>5,964<br>40,603<br>(8,814)<br>(12,647)<br>14,355<br>(46,611)<br>-<br>15,741<br>(16,515)<br>(29,162)<br>371,725<br>342,563|**2023**<br>**£**<br>246,592<br>31,391<br>(20,461)<br>4,512|
|---|---|---|
|||262,034<br>(5,348)<br>(32,849)<br>(9,285)|
|||214,552|
|||13,995<br>(350,469)<br>300<br>6,466|
|||(329,708)|
|||(115,156)<br>486,881|
|||371,725|



All of the cash flows are derived from continuing operations during the above two periods. 

- 13 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **1 Accounting policies** 

## **Statement of compliance** 

The financial statements have been prepared in accordance with 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) (published October 2019) and the Charities Act 2011. 

## **Basis of preparation** 

The Pilsdon Community meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. 

## **Going concern** 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. 

## **Income and endowments** 

All income is included in the statement of financial activities when the charity is entitled to the income, there is sufficient certainty of receipt and so it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:- 

## _**Grants, donations, gifts and legacies**_ 

Income from the charity shop is included in the year in which it is receivable. 

## _**Grants receivable**_ 

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. 

## _**Investment income**_ 

Income from investments is included in the year in which it is receivable. 

## **Expenditure** 

Expenditure is recognised where there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 

## _**Raising funds**_ 

Costs of raising funds comprise the costs associated with attracting donations and legacies and the costs of trading for fundraising purposes including the charity's shop. 

## _**Charitable activities**_ 

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

- 14 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **Support costs** 

Support costs include costs incurred directly in support of expenditure on the objects of the charity and project management. Support costs also include governance costs related to running the charity itself as an organisation, and its compliance with regulation and good practice. 

## **Governance costs** 

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses. 

## **Taxation** 

The charity is not charged to direct taxation on its income as it falls within the various exemptions available to registered charities. 

The charity is not registered for VAT. VAT incurred on expenditure cannot be recovered and is charged against the category of expenses for which it was incurred. 

## **Tangible fixed assets** 

Tangible fixed assets are stated at cost less accumulated depreciation. It is the charity's policy to only capitalise assets over £500. Freehold property and improvements are not depreciated (except for the cabins). This represents a departure from accounting standards. It is however, the charity's policy to maintain its freehold property in such condition that it is not impaired by the passage of time and the trustees believe that the residual value of the freehold property is greater than book value. Any depreciation on the freehold property would, in the opinion of the trustees, be immaterial due to the long life of the assets. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

**Asset class Depreciation method and rate** 5%-33% reducing balance and Equipment 10%/5% straight line Tractor 20% straight line Motor vehicles 25% straight line Caravan lease 20% straight line Cabins Over 25 years straight line 

## **Investment properties** 

Investment property was transferred at cost and revalued to the trustee's opinion of market value. The property has been informally externally valued. Changes in fair value are recognised in profit or loss. 

## **Fixed asset investments** 

Investments held as fixed assets are revalued at bid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities. 

## **Stock** 

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. 

Livestock is shown at deemed cost, based on market value, at the balance sheet date. 

- 15 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **Trade debtors** 

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. 

## **Cash and cash equivalents** 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## **Trade creditors** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount. 

## **Fund structure** 

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity. 

Designated income funds are those which the trustees have decided to put aside for a particular use. 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 

## **2 Income from donations and legacies** 

|Donations and gifts<br>Legacies<br>Gift aid claimed<br>Grants, including capital grants;<br>Grants from other charities<br>Grants|**Unrestricted**<br>**income funds**<br>**General**<br>**£**<br>47,647<br>4,980<br>5,809<br>-<br>-<br>58,436|**Restricted**<br>**income funds**<br>**£**<br>696<br>-<br>-<br>500<br>15,000<br>16,196|**Total**<br>**2024**<br>**£**<br>48,343<br>4,980<br>5,809<br>500<br>15,000<br>74,632|**Total**<br>**2023**<br>**£**<br>80,780<br>157,000<br>9,591<br>-<br>79,340|
|---|---|---|---|---|
|||||326,711|



- 16 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **3 Income from charitable activities** 

## **Unrestricted income funds** 

||**Unrestricted**<br>**income funds**|||
|---|---|---|---|
|**_Accommodation and care provided at Pilsdon_**<br>**_Manor_**<br>Guest contributions<br>**4**<br>**Income from trading activities**<br>Shop income<br>Book sales<br>Miscellaneous sales<br>**5**<br>**Investment income**<br>Interest and dividends<br>Wayleaves<br>Rental income- Bills Cottage<br>**6**<br>**Other income**<br>Insurance proceeds<br>Renewable heat incentive income|**General**<br>**£**<br>158,876<br>**Unrestricted**<br>**income funds**<br>**General**<br>**£**<br>11,820<br>35<br>966<br>12,821<br>**Unrestricted**<br>**income funds**<br>**General**<br>**£**<br>15,741<br>15<br>14,340<br>30,096<br>**Unrestricted**<br>**income funds**<br>**General**<br>**£**<br>6,400<br>12,957<br>19,357|**Total**<br>**2024**<br>**£**<br>158,876<br>**Total**<br>**2024**<br>**£**<br>11,820<br>35<br>966<br>12,821<br>**Total**<br>**2024**<br>**£**<br>15,741<br>15<br>14,340<br>30,096<br>**Total**<br>**2024**<br>**£**<br>6,400<br>12,957<br>19,357|**Total**<br>**2023**<br>**£**<br>163,072|
||||**Total**<br>**2023**<br>**£**<br>11,019<br>857<br>1,626|
||||13,502|
||||**Total**<br>**2023**<br>**£**<br>6,466<br>-<br>13,995|
||||20,461|
||||**Total**<br>**2023**<br>**£**<br>-<br>6,286|
||||6,286|



- 17 - 



**THE PILSDON COMMUNITY NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **7 Expenditure on raising funds** 

## **a) Costs of trading activities** 

## **Unrestricted income funds** 

|**Fundraising trading costs - cost of goods sold**<br>Shop purchases<br>Marketing and publicity<br>Other direct costs of activities for generating<br>funds<br>**8**<br>**Expenditure on charitable activities**<br>**Unrestricted**<br>**income funds**<br>**£**<br>**Accommodation and care at**<br>**Pilsdon Manor**<br>Activities undertaken directly<br>221,311<br>Allocated support costs<br>100,835<br>322,146|**General**<br>**£**<br>11,804<br>616<br>387<br>12,807<br>**Restricted**<br>**income funds**<br>**£**<br>15,711<br>1,886<br>17,597|**Total**<br>**2024**<br>**£**<br>11,804<br>616<br>387<br>12,807<br>**Total**<br>**2024**<br>**£**<br>237,022<br>102,721<br>339,743|**Total**<br>**2023**<br>**£**<br>11,135<br>1,330<br>1,980|
|---|---|---|---|
||||14,445|
||||**Total**<br>**2023**<br>**£**<br>175,450<br>89,033|
||||264,483|



- 18 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **9 Analysis of governance and support costs** 

|**Support costs**<br>Staff costs<br>Other office expenses<br>Depreciation and loss on<br>disposal<br>**Governance costs**<br>Audit of the financial statements|**Unrestricted**<br>**income funds**<br>**£**<br>29,520<br>29,847<br>33,978<br>93,345<br>7,490<br>7,490<br>100,835|**Restricted**<br>**income funds**<br>**£**<br>-<br>-<br>1,886<br>1,886<br>-<br>-<br>1,886|**Total**<br>**2024**<br>**£**<br>29,520<br>29,847<br>35,864<br>95,231<br>7,490<br>7,490<br>102,721|**Total**<br>**2023**<br>**£**<br>23,571<br>26,375<br>31,691|
|---|---|---|---|---|
|||||81,637|
|||||7,396|
|||||7,396|
|||||89,033|



All support and governance costs were allocated to the accommodation and care provided at Pilsdon Manor. 

## **10 Employees** 

The aggregate payroll costs were as follows: 

|Wages and salaries<br>Social security costs<br>Pension costs<br>Volunteer expenses|**2024**<br>**£**<br>57,174<br>-<br>22,427<br>1,878<br>81,479|**2023**<br>**£**<br>41,483<br>-<br>11,400<br>1,548|
|---|---|---|
|||54,431|



There were an average of 6 employees during the year (2023 - 5). No employee received emoluments of more than £60,000 during the year 

## **11 Trustees remuneration and expenses** 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 

No trustees have received any reimbursed expenses or any other benefits from the charity during the year. There have been no related party transactions in either year. 

## **12 Auditors' remuneration** 

|||**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
|Audit|of the financial statements|7,490|7,396|



- 19 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **13 Taxation** 

The charity is a registered charity and is therefore exempt from taxation. 

## **14 Tangible fixed assets** 

|**Cost**<br>At 1 April 2023<br>Additions<br>Disposals<br>At 31 March 2024<br>**Depreciation**<br>At 1 April 2023<br>Charge for the<br>year<br>Eliminated on<br>disposals<br>At 31 March 2024<br>**Net book value**<br>At 31 March 2024<br>At 31 March 2023|**Freehold**<br>**land and**<br>**buildings**<br>**£**<br>549,016<br>-<br>-<br>549,016<br>-<br>-<br>-<br>-<br>549,016<br>549,016|**Property**<br>**improvements**<br>**£**<br>2,132,937<br>26,156<br>-<br>2,159,093<br>15,232<br>16,278<br>-<br>31,510<br>2,127,583<br>2,117,705|**Fixtures,**<br>**fittings and**<br>**equipment**<br>**£**<br>215,050<br>12,955<br>-<br>228,005<br>113,618<br>18,311<br>-<br>131,929<br>96,076<br>101,432|**Motor**<br>**vehicles**<br>**£**<br>20,824<br>7,500<br>(5,495)<br>22,829<br>20,824<br>1,875<br>(5,495)<br>17,204<br>5,625<br>-|**Total**<br>**£**<br>2,917,827<br>46,611<br>(5,495)|
|---|---|---|---|---|---|
||||||2,958,943|
||||||149,674<br>36,464<br>(5,495)|
||||||180,643|
||||||2,778,300|
||||||2,768,153|



- 20 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **15 Fixed asset investments** 

## **Investment properties** 

|**Investment properties**||
|---|---|
|**Cost or Valuation**<br>At 1 April 2023<br>At 31 March 2024<br>**Provision**<br>At 31 March 2024<br>**Net book value**<br>At 31 March 2024<br>At 31 March 2023|**Investment**<br>**properties**<br>**£**<br>500,000|
||500,000<br>-|
||500,000|
||500,000|



An informal valuation of £500,000 was made by Chartered Surveyors Symonds and Sampson in October 2022, the trustees conisder the value to be unchanged at 31 March 2024. 

|**Valuation**<br>At 1 April 2023<br>Revaluation<br>At 31 March 2024|**Other**<br>**investments**<br>**£**<br>179,768<br>20,635<br>200,403|**Total**<br>**£**<br>179,768<br>20,635<br>200,403|**2022**<br>**£**<br>184,280<br>(4,512)|
|---|---|---|---|
||||179,768|



The other listed investments consist of COIF Charity Funds held with CCLA Investment Management Ltd. 

- 21 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **16 Debtors** 

|**16 Debtors**|||
|---|---|---|
|Trade debtors<br>Prepayments<br>Accrued income<br>Other debtors|**2024**<br>**£**<br>1,037<br>4,354<br>4,306<br>6,877<br>16,574|**2023**<br>**£**<br>8,770<br>4,927<br>32,093<br>11,387|
|||57,177|



## **17 Cash and cash equivalents** 

|Cash on hand<br>Cash at bank<br>Short-term deposits<br>**18 Creditors: amounts falling due within one year**<br>Other creditors<br>Accruals|**2024**<br>**£**<br>3,727<br>31,055<br>307,781<br>342,563<br>**2024**<br>**£**<br>9,853<br>10,352<br>20,205|**2023**<br>**£**<br>5,027<br>29,419<br>337,279|
|---|---|---|
|||371,725|
|||**2023**<br>**£**<br>20,892<br>8,127|
|||29,019|



## **19 Contingent assets** 

The charity has been notified that it is entitled to a legacy of £5,000. This amount is not reflected in the Accounts as the charity is awaiting confirmation that the estate has sufficient assets to pay. 

## **20 Contingent liabilities** 

There is an outstanding retention of £17,000 due to Crosby Building Contractors Limited. The company has since appointed liquidators and this retention is unlikely to be payable due to remedial works required. 

- 22 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **21 Funds** 

|**Balance**<br>**at 1 April**<br>**2023**<br>**£**<br>**Unrestricted income funds**<br>Non-liquid assets<br>3,264,229<br>Operating reserve<br>110,000<br>Contingency<br>20,000<br>Development<br>150,000<br>Cabin replacement<br>45,683<br>Manor House<br>designated reserve<br>253,406<br>3,843,318<br>**Restricted income**<br>**funds**<br>Pilsdon land<br>4,560<br>Memory shed<br>200<br>Donated boiler<br>3,395<br>Defibrillator<br>529<br>Wardens fund<br>8,085<br>Cabin replacement<br>-<br>Dorset County Council<br>Contract<br>-<br>16,769<br>**Total funds**<br>3,860,087<br>**Balance**<br>**at 1 April**<br>**2022**<br>**£**<br>**Unrestricted income funds**<br>**_General_**<br>Non-liquid assets<br>2,943,490<br>Operating reserve<br>-<br>Contingency<br>130,000<br>Development<br>150,000<br>Cabin replacement<br>270,000<br>Manor House<br>designated reserve<br>107,918<br>3,601,408|**Incoming**<br>**resources**<br>**£**<br>**Resources**<br>**expended**<br>**£**<br>**Other**<br>**recognised**<br>**gains/(losses)**<br>**£**<br>**Transfers**<br>**£**<br>-<br>(34,578)<br>-<br>46,611<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(45,683)<br>279,586<br>(300,375)<br>20,635<br>(428)<br>279,586<br>(334,953)<br>20,635<br>500<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(1,620)<br>-<br>-<br>-<br>(266)<br>-<br>-<br>696<br>(711)<br>-<br>-<br>500<br>-<br>-<br>(500)<br>15,000<br>(15,000)<br>-<br>-<br>16,196<br>(17,597)<br>-<br>(500)<br>295,782<br>(352,550)<br>20,635<br>-<br>**Incoming**<br>**resources**<br>**£**<br>**Resources**<br>**expended**<br>**£**<br>**Other**<br>**recognised**<br>**gains/(losses)**<br>**£**<br>**Transfers**<br>**£**<br>28,262<br>(29,730)<br>-<br>322,207<br>-<br>-<br>-<br>110,000<br>-<br>-<br>-<br>(110,000)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(224,317)<br>395,690<br>(245,690)<br>(4,512)<br>-<br>423,952<br>(275,420)<br>(4,512)<br>97,890|**Balance**<br>**at 31**<br>**March**<br>**2024**<br>**£**<br>3,276,262<br>110,000<br>20,000<br>150,000<br>-<br>252,824|
|---|---|---|
|||3,809,086|
|||4,560<br>200<br>1,775<br>263<br>8,070<br>-<br>-|
|||14,868|
|||3,823,954|
|||**Balance**<br>**at 31**<br>**March**<br>**2023**<br>**£**<br>3,264,229<br>110,000<br>20,000<br>150,000<br>45,683<br>253,406|
|||3,843,318|



- 23 - 



**THE PILSDON COMMUNITY** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

|**Restricted income**<br>**funds funds**<br>Pilsdon land<br>Memory shed<br>Donated boiler<br>Vauxhall Zafira<br>Defibrillator<br>Wardens fund<br>Cabin replacement<br>**Total funds**|**Balance**<br>**at 1 April**<br>**2022**<br>**£**<br>4,560<br>200<br>5,015<br>75<br>795<br>1,442<br>-<br>12,087<br>3,613,495|**Incoming**<br>**resources**<br>**£**<br>**Resources**<br>**expended**<br>**£**<br>**Other**<br>**recognised**<br>**gains/(losses)**<br>**£**<br>**Transfers**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(1,620)<br>-<br>-<br>-<br>(75)<br>-<br>-<br>-<br>(266)<br>-<br>-<br>8,190<br>(1,547)<br>-<br>-<br>97,890<br>-<br>-<br>(97,890)<br>106,080<br>(3,508)<br>-<br>(97,890)<br>530,032<br>(278,928)<br>(4,512)<br>-|**Balance**<br>**at 31**<br>**March**<br>**2023**<br>**£**<br>4,560<br>200<br>3,395<br>-<br>529<br>8,085<br>-|
|---|---|---|---|
||||16,769|
||||3,860,087|



The specific purposes for which the funds are to be applied are as follows: 

Non-liquid assets fund- This fund represents the net cost of such assets in the balance sheet. These assets are generally essential to the activities of the charity and cannot be realised without severe detriment to the achievement of the charity's objectives. 

Operating reserve- This fund is held to meet day to day cash flow requirements. 

Contingency- This fund is held to meet any unforeseen eventuality. 

Development- This is used to carry out non-routine maintenance and to finance developments included within the five-year financial plan. 

Cabin replacement- This is a project to build new accommodation for the charity's members. 

Manor House designated reserve- All remaining funds are allocated to the Manor House designated reserve fund. This fund is to be used in to increase available accommodation for guests. 

Pilsdon land- This fund represents funding raised to assist with the future purchase of land at Pilsdon, Dorset. 

Memory Shed- This fund represents funding raised to for a project to celebrate the 60th anniversary of the community. 

Donated Boiler- This fund represents a boiler and burner donated to the community. 

Vauxhall Zafira- This vehicle was donated to the community 

Defibrillator- A defibrillator was donated to the community 

Warden's fund- This is donations received for guest's benefits for items such as art materials 

Reservoir work - This was a project to repair reservoir and sewerage infrastructure 

Cabin replacement- This a project to build new accommodation for the charity's members 

- 24 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

## **22 Analysis of net assets between funds** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Total net assets<br>Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Total net assets|**Unrestricted**<br>**income funds**<br>**funds**<br>**General**<br>**£**<br>2,776,259<br>700,403<br>352,629<br>(20,205)<br>3,809,086<br>**Unrestricted**<br>**income funds**<br>**funds**<br>**General**<br>**£**<br>2,764,229<br>679,768<br>428,340<br>(29,019)<br>3,843,318|**Restricted**<br>**income funds**<br>**funds**<br>**£**<br>2,041<br>-<br>12,827<br>-<br>14,868<br>**Restricted**<br>**income funds**<br>**funds**<br>**£**<br>3,924<br>-<br>12,845<br>-<br>16,769|**Total funds**<br>**at 31 March**<br>**2024**<br>**£**<br>2,778,300<br>700,403<br>365,456<br>(20,205)|
|---|---|---|---|
||||3,823,954|
||||**Total funds**<br>**at 31 March**<br>**2023**<br>**£**<br>2,768,153<br>679,768<br>441,185<br>(29,019)|
||||3,860,087|



## **23 Related party transactions** 

There were no related party transactions in the year. 

## **24 Pension and other schemes** 

## **Defined benefit pension schemes Church of England Funded Pension Scheme** 

Pilsdon Community participates in the Church of England Funded Pensions Scheme for stipendiary clergy, a defined benefit scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the scheme separately form those of the Responsible Bodies. 

Each participating Responsible Body in the Church of England Funded Pensions Scheme pays contributions at a common contribution rate applied to pensionable stipends. 

The scheme is considered to be a mutli-employer scheme as described in Section 28 of FRS102. It is not possible to attribute the Scheme's assets and liabilities to each specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SOFA in the year are contributions payable towards benefits and expenses accrued in that year, which were £5,327 in 2024 (2023:£Nil), plus any figures arising from contributions in respect of the Scheme's deficit (see below). The 2021 valuation showed the Scheme to be fully funded and as such in 2023, following the valuation results being agreed, the deficit contributions paid were £0 (2022: £Nil). 

- 25 - 



**THE PILSDON COMMUNITY** 

**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

A valuation of the scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2021. The 2021 valuation revealed a surplus of £560m, based on assets of £2,720m and a funding target of £2,160m, assessed using the following assumptions: 

## 1) An average discount rate of 2.7% p.a; 

2) RPI inflation of 3.6% p.a. (and pension increases consistent with this); 

3) CPIH inflation in line with RPI less 0.8% pre 2030 moving to RPI with no adjustment from 2030 onwards; 

4) Increase in pensionable stipends in line with CPIH; 

5) Mortality in acccordance with 90% of the S3NA tables, with allowances for improvements in mortality rates from 2013 in line with the CM12020 extended role model with a long term annual rate of improvement of 1.5%, a smotting parameter of 7, an initial addition to mortality improvements of 0.5% pa and an allowance for 2020 data of 0% (i.e w2020=0%). 

Following finalisation of the 31 December 2021 valuation, deficit contributions ceased with effect from 1 January 2023, since the Scheme was fully funded. 

The deficit recovery contributions under the recovery plan in force at each 31 December were as follows: 

% of pensionable stipends 

31 December 2021 7.1% payable from January 2021 to December 2022 31 December 2022 Nil 31 December 2023 Nil 

An interim reduction to deficit contributions to 3.2% of pensionable stipends was made with effect from April 2022, and remained in place until December 2022. 

For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme's rules. 

Section 28.11A of FRS102 requires agreed deficit recovery payments to be recognised as a liability. However, as there are no agreed deficit recovery payments from 1 January 2023 onwards, the balance sheet liability as at 31 December 2022 is nil. The movement in the balance sheet liability over 2021 and over 2022 is set out in the table below. 

|2021 and over 2022 is set out in the table below.|||
|---|---|---|
||**2023**|**2024**|
|Balance Sheet liability at 1 January|-|-|
|Deficit contribution paid|-|-|
|Interest cost (recognised in SOFA)|-|-|
|Remaining charge to the balance sheet liability * (recognised in SOFA)|||
|Balance sheet liability at 31 December|-|-|



* Comprises change in agreed deficit recovery plan, and change in discount rate and inflation assumptions between year-ends. 

This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions. No assumptions are needed for December 2022 as there are no agreed deficit recovery payments going forward. No price inflation assumption was needed for December 2021 since pensionable stipends for the remainder of the recovery plan were already known. 

|were already known.||||
|---|---|---|---|
||December 2023|December 2022|December 2021|
|Discount Rate|n/a|n/a|0.0% pa|
|Price inflation|n/a|n/a|n/a|
|Increase to total pensionable payroll|n/a|n/a|-1.5% pa|



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**THE PILSDON COMMUNITY** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

The legal structure of the scheme is such that if another Responsible Body fails, Pilsdon Community could become responsible for paying a share of that failed Responsible Body's pension liabilities. 

- 27 - 



**THE PILSDON COMMUNITY** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

|**Incoming resources**<br>**_Donations_**<br>Donations and gifts<br>Legacies<br>Gift aid claimed<br>Grants from other charities<br>Grants<br>**_Activites for generating funds_**<br>Shop income<br>Book sales<br>Miscellaneous sales<br>**_Investment income_**<br>Income from rents<br>Interest and dividends<br>Wayleaves<br>Total income from generating funds<br>**_Income from charitable activites_**<br>Guest contributions<br>**_Other income_**<br>Insurance proceeds<br>Renewable heat incentive income<br>**Total income**|**Total**<br>**2024**<br>**£**<br>48,343<br>4,980<br>5,809<br>500<br>15,000<br>74,632<br>11,820<br>35<br>966<br>12,821<br>14,340<br>15,741<br>15<br>30,096<br>117,549<br>158,876<br>6,400<br>12,957<br>19,357<br>**295,782**|**Total**<br>**2023**<br>**£**<br>80,780<br>157,000<br>9,591<br>-<br>79,340|
|---|---|---|
|||326,711|
|||11,019<br>857<br>1,626|
|||13,502|
|||13,995<br>6,466<br>-|
|||20,461|
|||360,674|
|||163,072<br>-<br>6,286|
|||6,286|
|||**530,032**|



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**THE PILSDON COMMUNITY** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 MARCH 2024**_ 

|**_Cost of raising funds_**<br>Shop purchases<br>Marketing and publicity<br>Other direct costs of activities for<br>generating funds<br>Total costs of raising funds<br>**_Charitable activites_**<br>Volunteer expenses<br>Community members allowances<br>Community members pensions<br>Community members other<br>expenses<br>Education and spiritual<br>development<br>Provisions<br>Light, heat, council tax and water<br>Repairs and maintenance<br>Amenities<br>Church expenses<br>Transport and travel<br>Garden and livestock<br>Guest expenses<br>**_Support costs_**<br>Administrator<br>Other office expenses<br>Depreciation<br>Profit on disposal<br>**_Pilsdon total expenditure on_**<br>**_Charitable activites_**<br>**_SUMMARY_**<br>Income<br>Raising funds<br>Charitable activities<br>Net surplus for the year|**Total**<br>**2024**<br>**£**<br>**£**<br>11,804<br>616<br>387<br>12,807<br>1,878<br>31,254<br>18,827<br>7,989<br>5,407<br>30,414<br>62,102<br>40,908<br>2,477<br>1,136<br>15,860<br>16,415<br>2,355<br>237,022<br>29,520<br>37,337<br>36,464<br>(600)<br>102,721<br>**_339,743_**<br>295,782<br>(12,807)<br>(339,743)<br>(56,768)|**Total**<br>**2023**<br>**£**<br>**£**<br>11,135<br>1,330<br>1,980<br>14,445<br>1,548<br>21,512<br>7,800<br>1,864<br>1,330<br>26,784<br>56,548<br>27,216<br>2,362<br>743<br>15,905<br>10,810<br>1,028<br>175,450<br>23,571<br>33,771<br>31,391<br>300<br>89,033<br>**_264,483_**<br>530,032<br>(14,445)<br>(264,483)<br>251,104|**Total**<br>**2023**<br>**£**<br>**£**<br>11,135<br>1,330<br>1,980<br>14,445<br>1,548<br>21,512<br>7,800<br>1,864<br>1,330<br>26,784<br>56,548<br>27,216<br>2,362<br>743<br>15,905<br>10,810<br>1,028<br>175,450<br>23,571<br>33,771<br>31,391<br>300<br>89,033<br>**_264,483_**<br>530,032<br>(14,445)<br>(264,483)<br>251,104|
|---|---|---|---|
||||14,445|
||||**_264,483_**|
||||251,104|



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