CHARITY REGISTRATION NUMBER: 1155419
The Pear Tree Fund Unaudited financial statements
31 December 2020
The Pear Tree Fund
Financial statements
Year ended 31 December 2020
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
The Pear Tree Fund
Trustees' annual report
Year ended 31 December 2020
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts 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.
Reference and administrative details
Registered charity name
The Pear Tree Fund
Charity registration number 1155419 Principal office Cutlers Hill Surgery Bungay Road Halesworth Suffolk IP19 8SG
The trustees
The trustees who served during the year and at the date of approval were as follows:
Dr K Maclusky (Charity Chair) Ms R Booth (Vice Chair)(resigned 13 August 2020) Dr D C Morley (Vice Chair) Mr E Edwards Mrs J Edwards Mrs B Kell Mrs F Lloyd Ms F Mamo (appointed 13 August 2020) Ms J Morelli (appointed 7 October 2020) Mrs N Sawkins Mr S Thackray (appointed 3 March 2020) Treasurer Mr E Edwards (resigned 25 November 2020) Ms J Morelli (appointed 26 November 2020) Secretary Mrs B Kell Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers Barclays Bank PLC New Market Place Beccles NR34 9HD
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The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2020
Objectives and activities
The objectives of the charity are:
(a) Nursing care in the community
To support people with a life-limiting illness who are registered with Cutlers Hill Surgery, by the provision of nursing care, practical support and equipment; and
(b) Information and support at the Pear Tree Centre
To provide information and support at the Pear Tree Centre to people living in Halesworth and the surrounding area, who either themselves or a member of their family have a life limiting illness.
The second object was added in 2020 following the completion of the Pear Tree Centre.
It is proposed to make further changes in 2021 to reflect the development of the charity since the Pear Tree Centre opened. A resolution will be tabled at AGM to reverse the order of the objects and change the current second object to:
- (a) To provide information, advice. and holistic support to people with life-changing and/or life limiting illness and/or their families, living in East Suffolk and parts of Mid-Suffolk and South Norfolk
Public benefit
The Board of Trustees confirm that they have had due regard to the Charity Commission's guidance on public benefit.
The charity considers that it provides a benefit to the general public by making funds available to provide support for people with life-changing and life limiting illness and their families living in the geographical area covered.
Achievements and performance
After 7 years of fundraising, followed by construction of the new Pear Tree Centre, the Trustees are delighted to be able to report that the new Centre opened its doors to the public in mid-January 2020. This was a "soft" opening with a view to encouraging the public to use the Pear Tree's facilities, but unfortunately restrictions caused by Covid-19 first hit us in late March, and in total we lost over 120 days use of the Centre during the year, although our staff were able to keep some of our services, particularly counselling, operating from home during these times.
The final cost of construction of the Pear Tree Centre was £860,742, of which we retained a sum of £24,059 pending final satisfaction of remaining snags. Final payment was made on 18 February 2021.
Covid also dramatically impacted on our Dee's Den Charity Shop. In practice, with the necessity of ensuring that the shop was Covid compliant after lockdowns, we lost in the region of 50% of our trading time and, even when we were open, business was slow.
Bearing the effect of Covid in mind it is encouraging that the Charity's cash balances were £362,594 at the end of 2020 as opposed to £362,131 on 1 January 2020. This was helped by receiving a legacy of £21,266, and grants of £80,543 which included a grant of £5,000 from the Suffolk Coronavirus Emergency Fund.
We attempted to keep any furloughing of staff down to a minimum but on two occasions we had to furlough two separate members of staff for brief periods, during which time they were on full pay, with the Charity reclaiming 80% from HMRC. The total reclaimed was £1,821.
Due to Covid the Charity was unable to carry out any of the 3 usual fundraising functions which we were anticipating would raise around £10,000. And the Dee's Den closure reduced our income by around £20,000. We also found that local fund raising in the form of donations and events on our behalf was very restricted, which reduced income by an estimate of between £5,000 to £10,000. These shortfalls were partially covered by receipt of a grant of £10,000 from the East Suffolk Business Rates Support scheme.
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The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2020
Financial review
Total income for the year amounted to £155,574 (2019: £296,560). After expenditure of £136,916 (2019: £54,546), the net income for the year amounted to £18,658 (2019: £242,014).
Reserves policy
It is the policy of the charity to maintain unrestricted funds (excluding designated funds), which are free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure At this level, the Trustees feel that they would be able to continue the current activities of the charity in the short term, in the event of a significant drop in funding. Currently free reserves amount to £110,760.
In addition, designated funds include £90,000 set aside as a running cost fund for the Pear Tree Centre spread over four years, a designated contingency palliative care fund reserve of £30,000, and a legacy of £86,438, of which £22,500 has been designated by the trustees towards running costs, with the remainder ring fenced for future use to be determined by the trustees. It is anticipated that the running costs of the charity from 2021 will be over £260,000 a year.
Principal funding sources
The charity is fortunate in that it receives a considerable amount of support from the local community, statutory authorities and grant making trusts and foundations. The Trustees would particularly like to thank The Big C, the Norfolk cancer charity, who have committed to providing a grant in the sum of £30,000 per annum for 5 years towards staff costs; Heveningham Hall Country Fair Trust for their donation of £30,000 in 2019 towards the Pear Tree Centre core costs from 2020; and The February Foundation, who have made a 3 year commitment towards core costs for The Pear Tree Centre - £5,000 in the first year followed by 2 payments of £7,500. The Albert Hunt Trust also generously gave a grant for the charity's core costs of £5,000. The Trustees are most grateful for the generous support of The Limborne Trust (£4,500), The Villages Community Fund for visitors coming from Holton, Westhall and Sotherton, administered by the Norfolk Community Foundation (£3,650), and the Geoffrey Watling Charity (£4,000) for providing funding to enable the charity to deliver counselling services which have been vital during the pandemic.
Thanks are also due to the staff of the Suffolk Community Foundation for their help in securing a grant in the sum of £10,000 from the Suffolk Coronavirus Community Fund for counselling services and benefits advice delivered by DANES (Disability Advice North-East Suffolk) at The Pear Tree Centre. We are indebted to East Suffolk Council for a grant of £1,000 towards benefits advice and for the provision of PPE equipment for the Pear Tree Centre (£754) and the charity shop, Dee's Den (£1,654), which has ensured that staff and members of the public are Covid safe when visiting the Pear Tree Centre or Dee's Den. Finally, The Trustees would like to thank Halesworth Town Council, who generously gave a grant in the sum of £2,500 towards Pear Tree Centre core costs and a trust that wishes to remain anonymous for a grant in the sum of £2,500 to cover the cost of DANES advice in 2021.
We are also indebted to one of our Patrons, Lois Hunt, who donated 2 textiles by the renowned textile artist Jo Budd for the main Meeting Room and to The Circles of Art who donated a textile by the same artist for the Counselling Room.
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The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2020
Future plans
Following the growth in the scale and breadth of the charity’s operations with the opening of the Pear Tree Fund, the Board of Trustees decided to appoint a part-time Accounts Manager (started in January 2021) and Chief Executive Officer (started in May 2021) to lead the charity into its next stage of development.
The Pear Tree Centre reopened in April 2021 following a second closure caused by the ongoing pandemic. The Centre Manager and her team have worked tirelessly to ensure that continuity of support has been maintained through the different stages of the pandemic.
We plan to develop the Pear Tree Centre as a rural ‘Health and Wellbeing’ Hub and ‘centre of excellence’ over the next 18 months, both increasing our own range of service provision but also working with a range of ‘partners’ to provide specialist support. At the time of writing, an outreach service is being developed, ensuring that we can reach those who are unable to visit the Pear Tree Centre.
We are working in partnership with all local social prescribing organisations to improve access to a wider range of services and support in the community. Both the Rural Coffee Caravan and ‘Vincent Van Go’ Connected Communities social prescribing van are now visiting the Pear Tree Centre regularly and we have offered a space to the Access Community Trust social prescribing service to hold peer support groups.
Responding to emerging needs from COVID pandemic, the charity is broadening and enhancing its offer for people experiencing mental and emotional distress, with and without physical health conditions and illness. We have extended our service offer to provide wellbeing support to young carers and children and young people who have experienced bereavement. The charity has ambitions to further develop support for young carers over the next year.
Recognising the significant detrimental impact of the pandemic on families and unpaid carers, we are forging a partnership with Suffolk Family Carers, exploring how working together can improve support for family carers in Waveney and beyond, including through stronger referral pathways, locally based workers, and complementary service provision.
During the next year, our innovative tiered model of wellbeing support will be developed further. This will include the expansion of our ‘Enhanced’ volunteers, offering targeted outcomes-based psycho-social interventions, focused on ‘what matters’ to the person. To support this and other developments, including the demands of triaging increasing complexity in referrals and need to work to a multi-disciplinary approach, we will be creating a part-time staff post of Counselling and Therapies Lead.
We have begun working in partnership with the Kinda Forest School to develop and pilot a natured-based wellbeing pathway, which combines services offered through the Pear Tree Centre with structured therapeutic activities in the woods.
A ‘digital inclusion’ space is being developed at the Pear Tree Centre. This will support our visitors to gain digital skills and use technology to access information and support to increase their ‘health literacy’ and support self-care.
Since June 2021, through a sub-contract with St Elizabeth Hospice, we have been leading the delivery of a NHS Norfolk & Waveney funded Compassionate Communities pilot. Compassionate Communities is a community socialled approach to destigmatising death, dying, loss and bereavement, improving awareness and support to those affected and helping individuals and communities to plan for the future. We are building strong links across the community through the Compassionate Communities work and hope this can be extended into 2022.
The charity has significantly increased its expenditure on the provision of nursing care and support for those at end of life during 2021. The Centre Manager now attends multi-disciplinary team meetings at Cutlers Hill surgery, and we have continued to develop strong partnerships with the district nursing team. The Board of Trustees has identified expanding care and support to those at end of life and their families as a strategic priority going forwards.
Most of the charity’s income is received from donations, legacies and grants. A challenge moving into 2022 and beyond is to secure sustainable income and funding streams to support the delivery of our charitable objectives.
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The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2020
Structure, governance and management
Governing document
The Pear Tree Fund is a foundation registered CIO, registered on 21 January 2014, number 1155419.
Recruitment and appointment of Trustees
The charity aims to recruit Trustees with a wide range of experience from the public, third and private sectors, from which the charity will benefit.
Induction and training of Trustees
All new Trustees will be provided with copies of:
-
the charity's Deed of Trust;
-
the latest accounts of the charity;
and encouraged to read Charity Commission guidance notes CC3 - 'The Essential Trustee: what you need to know, what you need to do'.
In addition, Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
The development of a new trustee recruitment and induction framework is planned for rollout in Autumn/Winter 2021/22.
Risk management
The Trustees have examined the major strategy, business, and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Organisational structure
The Board of Trustees is responsible for strategic oversight and management of the charity and meet every six weeks to two months. The Board has several sub-committees, including governance, finance and audit and service development.
Trustees delegate the day-to-day operational management of the charity’s operations and implementation of agreed plans to the Chief Executive Officer.
True and fair override
The financial statements have been prepared to give a true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide atrue and fair view'. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The trustees' annual report was approved on 24 August 2021 and signed on behalf of the board of trustees by:
Dr K Maclusky Chair
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The Pear Tree Fund
Independent examiner's report to the trustees of The Pear Tree Fund
Year ended 31 December 2020
I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 December 2020 which comprise the statement of financial activities, balance sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) 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) 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 since been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
Mark Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
24 August 2021
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The Pear Tree Fund
Statement of financial activities
Year ended 31 December 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 34,033 | 92,705 | 126,738 | 240,655 |
| Charitable activities | 5 | – | 2,628 | 2,628 | – |
| Other trading activities | 6 | 19,091 | 3,279 | 22,370 | 52,109 |
| Investment income | 7 | 2,017 | – | 2,017 | 3,796 |
| Other income | 8 | 1,821 | – | 1,821 | – |
| ─────── | ─────── | ───────── | ───────── | ||
| Total income | 56,962 | 98,612 | 155,574 | 296,560 | |
| ═══════ | ═══════ | ═════════ | ═════════ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 9 | (10,072) | (4,198) | (14,270) | (7,481) |
| Expenditure on charitable activities | 10 | (15,553) | (107,093) | (122,646) | (47,065) |
| ─────── | ───────── | ───────── | ───────── | ||
| Total expenditure | (25,625) | (111,291) | (136,916) | (54,546) | |
| ═══════ | ═════════ | ═════════ | ═════════ | ||
| ─────── | ───────── | ───────── | ───────── | ||
| Net income and net movement in | funds | 31,337 | (12,679) | 18,658 | 242,014 |
| ═══════ | ═════════ | ═════════ | ═════════ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 1,172,622 | 34,500 | 1,207,122 | 965,108 | |
| ─────────── | ───────── | ─────────── | ─────────── | ||
| Total funds carried forward | 1,203,959 | 21,821 | 1,225,780 | 1,207,122 | |
| ═══════════ | ═════════ | ═══════════ | ═══════════ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 19 form part of these financial statements.
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The Pear Tree Fund
Balance sheet
31 December 2020
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Tangible fixed assets | 14 | 886,761 | 845,499 | |||
| Current assets | ||||||
| Debtors | 15 | 5,340 | 3,770 | |||
| Cash at bank and in hand | 362,594 | 362,131 | ||||
| ───────── | ───────── | |||||
| 367,934 | 365,901 | |||||
| Creditors: Amounts falling due within | ||||||
| one year | 16 | (28,915) | (4,278) | |||
| ───────── | ───────── | |||||
| Net current assets | 339,019 | 361,623 | ||||
| ─────────── | ─────────── | |||||
| Total assets less current liabilities | 1,225,780 | 1,207,122 | ||||
| ─────────── | ─────────── | |||||
| Net assets | 1,225,780 | 1,207,122 | ||||
| ═══════════ | ═══════════ | |||||
| Funds of the charity | ||||||
| Restricted funds | 21,821 | 34,500 | ||||
| Unrestricted funds | 1,203,959 | 1,172,622 | ||||
| ─────────── | ─────────── | |||||
| Total charity funds | 18 | 1,225,780 ═══════════ |
1,207,122 ═══════════ |
These financial statements were approved by the board of trustees and authorised for issue on 24 August 2021 and are signed on behalf of the board by:
Dr K Maclusky Chair
The notes on pages 9 to 19 form part of these financial statements.
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The Pear Tree Fund
Notes to the financial statements
Year ended 31 December 2020
1. General information
The Pear Tree Fund is a Charitable Incorporated Organisation, registered in England and Wales. The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities is to provide support for terminally ill patients registered with Cutlers Hill Surgery and their families in the community, by the provision of nursing care and equipment, and to provide information and support to people living in in Halesworth and the surrounding area who have life threatening or life limiting illness and to their families.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain items measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.
(b) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The trustees have assessed the impact of COVID-19 on the charity in making this assessment.
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The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
3. Accounting policies (continued)
(c) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or committment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
(d) Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
Legacy income is recognised when receipt is probable and entitlement is established.
-
Income from donated goods is measured at the fair value of the goods unless this is impracticle to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliabily measured. No amounts are included for the contribution of general volunteers.
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Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
(e) Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apprortioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
3. Accounting policies (continued)
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Land and buildings | - | 2% straight line |
|---|---|---|
| Fixtures and fittings | - | 20% straight line |
| IT equipment | - | 20% straight line |
(h) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 2,767 | 22,162 | 24,929 |
| Legacies | |||
| Legacies | 21,266 | – | 21,266 |
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The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Grants | |||||
| Grants | 10,000 | 70,543 | 80,543 | ||
| ─────── | ─────── | ───────── | |||
| 34,033 | 92,705 | 126,738 | |||
| ═══════ | ═══════ | ═════════ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2019 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 1,426 | 89,834 | 91,260 | ||
| Legacies | |||||
| Legacies | 99,895 | – | 99,895 | ||
| Grants | |||||
| Grants | – | 49,500 | 49,500 | ||
| ───────── | ───────── | ───────── | |||
| 101,321 | 139,334 | 240,655 | |||
| ═════════ | ═════════ | ═════════ | |||
| 5. | Charitable activities | ||||
| Restricted | Total Funds | Restricted | Total Funds | ||
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| Other income | 2,628 | 2,628 | – | – | |
| ══════ | ══════ | ════ | ════ | ||
| 6. | Other trading activities | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Fundraising events | 19,091 | 3,279 | 22,370 | ||
| ═══════ | ══════ | ═══════ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2019 | |||
| £ | £ | £ | |||
| Fundraising events | 33,712 | 18,397 | 52,109 | ||
| ═══════ | ═══════ | ═══════ | |||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2020 | Funds | 2019 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 2,017 | 2,017 | 3,796 | 3,796 | |
| ══════ | ══════ | ══════ | ══════ |
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The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
8. Other income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2020 | Funds | 2019 | |
| £ | £ | £ | £ | |
| Furlough income | 1,821 ══════ |
1,821 ══════ |
– ════ |
– ════ |
9. Costs of raising donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Lottery prize costs | 1,443 | – | 1,443 |
| Other fundraising costs | 8,629 | 4,198 | 12,827 |
| ─────── | ────── | ─────── | |
| 10,072 | 4,198 | 14,270 | |
| ═══════ | ══════ | ═══════ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2019 | |
| £ | £ | £ | |
| Lottery prize costs | 1,418 | – | 1,418 |
| Other fundraising costs | 5,389 | 674 | 6,063 |
| ────── | ──── | ────── | |
| 6,807 | 674 | 7,481 | |
| ══════ | ════ | ══════ |
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The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
10. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Wages and salaries | 1,821 | 49,715 | 51,536 | ||
| Patient care attendance | 2,401 | 9,077 | 11,478 | ||
| Stationery and sundry | 7,679 | 14,237 | 21,916 | ||
| Insurance | 939 | 2,877 | 3,816 | ||
| Legal and professional fees | – | 5,321 | 5,321 | ||
| Advertising | – | 2,117 | 2,117 | ||
| Depreciation | 343 | 23,749 | 24,092 | ||
| Governance costs | 2,370 | – | 2,370 | ||
| ─────── | ───────── | ───────── | |||
| 15,553 | 107,093 | 122,646 | |||
| ═══════ | ═════════ | ═════════ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2019 | |||
| £ | £ | £ | |||
| Wages and salaries | – | 11,445 | 11,445 | ||
| Patient care attendance | 3,012 | – | 3,012 | ||
| Stationery and sundry | 1,555 | 5,665 | 7,220 | ||
| Insurance | 561 | 2,814 | 3,375 | ||
| Legal and professional fees | – | 6,768 | 6,768 | ||
| Advertising | – | 12,955 | 12,955 | ||
| Depreciation | – | – | – | ||
| Governance costs | 2,290 | – | 2,290 | ||
| ────── | ─────── | ─────── | |||
| 7,418 | 39,647 | 47,065 | |||
| ══════ | ═══════ | ═══════ | |||
| Analysis of governance costs: | |||||
| Unrestricted | Total Funds | Total Funds | |||
| Funds | 2020 | 2019 | |||
| £ | £ | £ | |||
| Independent examination fees | 2,370 | 2,370 | 2,290 | ||
| ══════ | ══════ | ══════ | |||
| 11. | Independent examination fees | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 2,370 | 2,290 | |||
| ══════ | ══════ | ||||
| 12. | Staff costs | ||||
| The total staff costs and employee benefits for the reporting period are analysed as follows: | |||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Wages and salaries | 47,368 | 10,730 | |||
| Social security costs | 2,996 | 677 | |||
| Employer contributions to pension plans | 1,172 | 38 | |||
| ─────── | ─────── | ||||
| 51,536 | 11,445 | ||||
| ═══════ | ═══════ |
- 14 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
12. Staff costs (continued)
The average head count of employees during the year was 4 (2019: 2).
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
13. Trustee remuneration and expenses
Four Trustees were reimbursed expenses totalling £925 during the year in relation to printing, postage and stationary items, costs for the new centre and also in regard to event expenditure. (2019: Four trustees, £3,820).
14. Tangible fixed assets
| Land and | Fixtures and | ||||
|---|---|---|---|---|---|
| buildings | fittings | Equipment | Land | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 January 2020 | 780,234 | 15,036 | 1,829 | 48,400 | 845,499 |
| Additions | 31,864 | 12,994 | 20,496 | – | 65,354 |
| ───────── | ─────── | ─────── | ─────── | ───────── | |
| At 31 December 2020 | 812,098 | 28,030 | 22,325 | 48,400 | 910,853 |
| ═════════ | ═══════ | ═══════ | ═══════ | ═════════ | |
| Depreciation | |||||
| At 1 January 2020 | – | – | – | – | – |
| Charge for the year | 15,754 | 4,690 | 3,648 | – | 24,092 |
| ───────── | ─────── | ─────── | ─────── | ───────── | |
| At 31 December 2020 | 15,754 | 4,690 | 3,648 | – | 24,092 |
| ═════════ | ═══════ | ═══════ | ═══════ | ═════════ | |
| Carrying amount | |||||
| At 31 December 2020 | 796,344 | 23,340 | 18,677 | 48,400 | 886,761 |
| ═════════ | ═══════ | ═══════ | ═══════ | ═════════ | |
| At 31 December 2019 | 780,234 | 15,036 | 1,829 | 48,400 | 845,499 |
| ═════════ | ═══════ | ═══════ | ═══════ | ═════════ |
Capital commitments
Contracted for but not provided for in the financial statements
| 2020 | 2019 |
|---|---|
| £ | £ |
| – | 43,272 |
| ════ | ═══════ |
15. Debtors
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Prepayments and accrued income | 909 | 1,057 |
| Other debtors | 4,431 | 2,713 |
| ────── | ────── | |
| 5,340 | 3,770 | |
| ══════ | ══════ |
- 15 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
16. Creditors: Amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 1,564 | 1,133 |
| Accruals and deferred income | 2,370 | 2,290 |
| Social security and other taxes | 922 | 767 |
| Other creditors | 24,059 | 88 |
| ─────── | ────── | |
| 28,915 | 4,278 | |
| ═══════ | ══════ |
17. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,172 (2019: £38).
- 16 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
18. Analysis of charitable funds
| Balance at 1 | Balance at | ||||
|---|---|---|---|---|---|
| Jan 2020 | **Income ** | Expenditure | Transfers | 31 Dec 2020 | |
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General funds | 861,015 | 56,962 | (25,625) | 105,169 | 997,521 |
| Designated fund: Pear Tree | |||||
| Construction Fund | 62,669 | – | – | (62,669) | – |
| Designated fund: Pear Tree | |||||
| Running Costs Fund | 125,000 | – | – | (35,000) | 90,000 |
| Designated fund: Care | |||||
| packages | 30,000 | – | – | – | 30,000 |
| Designated fund: Legacy Ring | |||||
| Fenced | 71,438 | – | – | (7,500) | 63,938 |
| Designated fund: Legacy Cost | |||||
| Support | 22,500 | – | – | – | 22,500 |
| ─────────── | ─────── | ─────── | ───────── | ─────────── | |
| 1,172,622 | 56,962 | (25,625) | – | 1,203,959 | |
| Restricted funds | |||||
| Limbourne Counselling Grant | 4,500 | – | (4,500) | – | – |
| Heveningham Hall Cost | |||||
| Support | 30,000 | – | (10,000) | – | 20,000 |
| Big C Grant | – | 30,000 | (30,000) | – | – |
| Cost support fund | – | 55,115 | (53,294) | – | 1,821 |
| Capital fund | – | 13,497 | (13,497) | – | – |
| ─────────── | ─────── | ───────── | ──── | ─────────── | |
| 34,500 | 98,612 | (111,291) | – | 21,821 | |
| ─────────── | ───────── | ───────── | ──── | ─────────── | |
| 1,207,122 | 155,574 | (136,916) | – | 1,225,780 | |
| ═══════════ | ═════════ | ═════════ | ════ | ═══════════ | |
| Balance at 1 | Balance at | ||||
| Jan 2019 | **Income ** | Expenditure | Transfers | 31 Dec 2019 | |
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General funds | 15,385 | 44,891 | (14,225) | 814,964 | 861,015 |
| Designated fund: Pear Tree | |||||
| Construction Fund | 382,674 | – | – | (320,005) | 62,669 |
| Designated fund: Pear Tree | |||||
| Running Costs Fund | 110,000 | – | – | 15,000 | 125,000 |
| Designated fund: Care | |||||
| packages | 30,000 | – | – | – | 30,000 |
| Designated fund: Legacy Ring | |||||
| Fenced | – | 71,438 | – | – | 71,438 |
| Designated fund: Legacy Cost | |||||
| Support | – | 22,500 | – | – | 22,500 |
| ─────────── | ───────── | ───────── | ───────── | ─────────── | |
| 538,059 | 138,829 | (14,225) | 509,959 | 1,172,622 | |
| Restricted funds | |||||
| Pear Tree Construction Fund | 427,049 | 123,231 | (40,321) | (509,959) | – |
| Limbourne Counselling Grant | – | 4,500 | – | – | 4,500 |
| Heveningham Hall Cost | |||||
| Support | – | 30,000 | – | – | 30,000 |
| ─────────── | ───────── | ───────── | ───────── | ─────────── | |
| 427,049 | 157,731 | (40,321) | – | 34,500 | |
| ─────────── | ───────── | ───────── | ───────── | ─────────── | |
| 965,108 | 296,560 | (54,546) | – | 1,207,122 | |
| ═══════════ | ═════════ | ═════════ | ═════════ | ═══════════ |
- 17 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
Designated funds have been set aside to cover construction and initial running costs of the Pear Tree Centre and to provide care packages. They also include the proceeds of a legacy which the trustees wish to ringfence towards a future project.
The Limbourne Trust made a grant towards counselling in the prior year. This has been fully expended in 2020.
Heveningham Hall made a grant towards running costs of the centre in the prior year. £10,000 of this has been spent during 2020.
During the year grants were received from The Big C totalling £30,000 towards running costs of the centre. This was fully expended during the year.
Grants and donations totalling £55,155 were received towards running costs of the centre.
Grants of £13,497 were received towards the costs of furniture and artwork and were spent in full during the year.
- 18 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2020
19. Analysis of net assets between funds
| Net current | Tangible fixed |
Total Funds | |
|---|---|---|---|
| assets | assets | 2020 | |
| £ | £ | £ | |
| Restricted Income Funds: | |||
| Heveningham Hall Cost Support | 20,000 | – | 20,000 |
| Cost support | 1,821 | – | 1,821 |
| ─────── | ──── | ─────── | |
| 21,821 | – | 21,821 | |
| Unrestricted Income Funds: | |||
| General Funds | 110,760 | 886,761 | 997,521 |
| Designated Fund:Pear Tree Running Costs Fund | 90,000 | – | 90,000 |
| Designated Fund:Care Packages | 30,000 | – | 30,000 |
| Designated Fund: Legacy Ring Fenced | 63,938 | – | 63,938 |
| Designated Fund: Legacy Cost Support | 22,500 | – | 22,500 |
| ───────── | ───────── | ─────────── | |
| Total Funds | 339,019 | 886,761 | 1,225,780 |
| ═════════ | ═════════ | ═══════════ | |
| Net current | Tangible fixed |
Total Funds | |
| assets | assets | 2019 | |
| £ | £ | £ | |
| Restricted Income Funds: | |||
| Limbourne Counselling Grant | 4,500 | – | 4,500 |
| Heveningham Hall Cost Support | 30,000 | – | 30,000 |
| ─────── | ──── | ─────── | |
| 34,500 | – | 34,500 | |
| Unrestricted Income Funds: | |||
| General Funds | 15,516 | 845,499 | 861,015 |
| Designated Fund:Pear Tree Construction Fund | 62,669 | – | 62,669 |
| Designated Fund:Pear Tree Running Costs Fund | 125,000 | – | 125,000 |
| Designated Fund:Care Packages | 30,000 | – | 30,000 |
| Designated Fund: Legacy Ring Fenced | 71,438 | – | 71,438 |
| Designated Fund: Legacy Cost Support | 22,500 | – | 22,500 |
| ───────── | ───────── | ─────────── | |
| Total Funds | 361,623 | 845,499 | 1,207,122 |
| ═════════ | ═════════ | ═══════════ |
20. Related parties
Expenses totalling £925 were reimbursed to 4 trustees during the year (2019: £3,820 was reimbursed to 4 trustees).
Donations without conditions totalling £616 (2019: £684) were received from trustees during the year.
- 19 -