CHARITY REGISTRATION NUMBER: 1155419
The Pear Tree Fund
Unaudited financial statements
31 December 2021
The Pear Tree Fund
Financial statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 11 |
| Statement of financial activities | 12 |
| Balance sheet | 13 |
| Notes to the financial statements | 14 |
The Pear Tree Fund
Trustees' annual report
Year ended 31 December 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
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 59b The Thoroughfare Halesworth Suffolk IP19 8AR
The trustees
The trustees who served during the year and at the date of approval were as follows:
| Dr D C Morley (Charity Chair from 26 August 2021) | |
|---|---|
| Dr K Maclusky (Charity Chair until 26 August 2021, resigned 3 January | |
| 2022) | |
| Mrs C Boyle (appointed 25 November 2021, Vice Chair from 27 | |
| January 2022) | |
| Mr E Edwards (resigned 25 February 2021) | |
| Mrs J Edwards | |
| Mrs B Kell (resigned 31 March 2022) | |
| Mrs F Lloyd (resigned 17 March 2021) | |
| Ms F Mamo (resigned 26 August 2021) | |
| Ms J Morelli (resigned 19 July 2021) | |
| Dr G Peryer (appointed 25 November 2021) | |
| Mrs N Sawkins | |
| Mr S Thackray (resigned 13 January 2022) | |
| Mr H Tidman (appointed 25 November 2021) | |
| Treasurer | Ms J Morelli (resigned 19 July 2021) |
| Mr E Edwards (co-opted 26 August 2021) | |
| Secretary | Mrs B Kell (resigned 26 June 2021) |
| Mr K Vaughan (appointed 27 June 2021) | |
| 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 |
- 1 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Objectives and activities
Changes to the charitable objectives were made in 2021 to reflect the development of the charity since the Pear Tree Centre opened. A resolution was tabled at the AGM in August 2021 to reverse the order of the objects and alter and extend the previous second object.
The objectives of the charity are:
(a) To provide information, advice, and holistic support to people with life-changing illnesses and long-term conditions their families and carers, living in East Suffolk and neighbouring parts of Mid-Suffolk and South Norfolk.
(b) 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.
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 illnesses and long-term conditions and their families and carers living in the geographical area covered.
Achievements and performance
2021 was a year of challenge, transition, and innovation for The Pear Tree Fund. The Covid-19 pandemic caused significant challenges to service delivery, promotion, fundraising and income generation. Staff and volunteers continued to provide support to the charity's beneficiaries throughout the pandemic, offering compassion and empathy to many living with life-changing illnesses and long-term conditions affected by the impact of Covid-19 on their daily lives, including those who were shielding or caring. Services were delivered remotely for the first three and half months of 2021 during the third national lockdown.
The Pear Tree Centre, closed for two periods totalling almost nine months since its soft opening in January 2020, reopened for the final time in mid-April 2021. Robust transmission and protective measures were implemented to protect the charity's beneficiaries, staff, and volunteers from the risk of Covid-19, whilst successfully enabling in-person support to resume safely.
Despite the challenges presented by the ongoing pandemic, 2021 was a year of sustained growth and development for The Pear Tree Fund, marked by the transition from a charity managed by trustees to one on a professional footing with a Chief Executive Officer (CEO) and additional support staff. The appointment of a CEO and a Finance Manager, working together with the Centre Manager, has seen the rapid development of the charity's internal infrastructure, processes, and systems. For example, following an external review of the charity's IT provision, a new CRM database solution, Charitylog, was implemented in early autumn, offering enhanced recording and reporting capabilities and additional functionality to manage an increasingly diverse range of activities and services.
- 2 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Achievements and performance (continued)
2021 proved to be a year of considerable innovation in the development and expansion of the charity's activities and services. Support for family carers was enhanced with the introduction of therapeutic carers art courses, a fortnightly carers support group, an increase in complementary therapies and hosting of a monthly dementia carers group run by Halesworth Dementia Carers Fund. The Pear Tree Fund was invited to join the Suffolk Family Carers Partnership Board and has been involved in the development of the new Suffolk Carers Strategy.
Demand for bereavement support grew significantly during the year. A new bereavement group, facilitated by our partners at Rosedale Funeral Home, was held at the Pear Tree Centre in the autumn. Alongside this, bereavement counselling hours were increased to meet emerging needs. We developed our 'Cooking for One' project to bring together those who had experienced loss and bereavement, and encourage connecting with others and reducing loneliness and social isolation, through the experience of preparing meals and sharing with peers with similar experiences.
Partnerships have been key to supporting and driving innovation. Kinda Education was introduced to us in mid-2021, but quickly became an important partner in developing and piloting natured-based wellbeing pathways and activities. For example, 'Elders Weaving in the Woods', which combines therapeutic structured activities in the woods for older people with services and support offered through the Pear Tree Centre. We have provided volunteer support, assisted with securing additional funding and training, offered the Pear Tree Centre as backup when the weather is poor and provided expertise and advice. As a result of connections made through our partnership with Kinda Education and the 'Elders', we were able to introduce a weekly Tai Chi or Qi Gong class to support both physical and emotional health of our beneficiaries.
We have been delighted to welcome our friends from Halesworth Volunteer Centre for two tea parties at the Pear Tree Centre, offering the opportunity for their service users to meet the volunteers who supported them by phone during Covid.
Good progress was made in the second half of 2021 in delivering our plans to develop the Pear Tree Centre as a rural 'Health and Wellbeing Hub' and 'centre of excellence for bereavement support'. We continued to work in partnership with others, receiving regular visits from the Rural Coffee Caravan and social prescribing services, including Connected Communities and Access Community Trust, to improve access to a wider range of service and support in the community.
Delivery of social welfare advice was brought 'in-house' to increase capacity and offer greater flexibility as part of the remodelling and expansion of the charity's information and advice services. A new Information and Advice Coordinator post was developed to support these changes with the post-holder recruited starting in role in November. We purchased a license to use the Citizens Advice information system, an online resource covering all welfare issues. The Information and advice offer has been extended to include support with applying for benefits, blue badges and concessionary bus passes, lasting power of attorney, housing, aids and adaptations, social care assessments, NHS Continuing Healthcare and drafting complaints letters.
Digital inclusion and health literacy support have been added as core components of our new information and advice service offer. One-to-one bespoke digital skills training is being provided to our beneficiaries at the Pear Tree Centre and in the home and community, assisting them to get online: to navigate the information highway safely; complete vital tasks (e.g., banking); stay in touch with family and friends; and access information and support that improves their 'health literacy' and wellbeing and supports development of self-care.
- 3 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Achievements and performance (continued)
A home-visiting service for those who are unable to travel to the Pear Tree Centre, because of illness, disability, or access to transport, was successfully piloted with staff and volunteers in 2021, with a full rollout planned for 2022.
Expenditure on care for those at end of life increased from the previous two years with the Centre Manager regularly attending Gold Standard Framework (GSF) meetings at Cutlers Hill Surgery. There was also a notable increase in providing practical support around end-of-life care arrangements, including liaison with the NHS and other services, family and friends.
During the second half of 2021, The Pear Tree Fund (sub-contracted by our partners at St Elizabeth Hospice) led the delivery of an NHS Norfolk & Waveney funded Compassionate Communities pilot. These communities encourage, facilitate, support, celebrate and care for one another during life's most testing moments and experiences, especially those pertaining to life-threatening and life-limiting illness, chronic disability, frail ageing and dementia, grief and bereavement, and the trials and burdens of of long-term care. They recognise that care for one another at times of crisis and loss is not simply a task solely for health and social services but is everyone's responsibility.
Partnership was central to the successful development of a compassionate community. The Pear Tree Fund formed a 'Community of Practice', whose members include: Halesworth Volunteer Centre, Halesworth Men's Shed, Halesworth Dementia Carers Fund, Blyth Valley Team Ministry, Rosedale Funeral Home, Coop Funeral Care, Kinda Education, Rural Coffee Caravan, INK, East Suffolk Council, Healthwatch Suffolk, East Coast Community Healthcare and members of the local community. The Community of Practice met regularly at the Pear Tree Centre and at Kaliwood.
As part of the project we:
-
Trained 36 Compassionate Friends / Conversation Partners to support people with advance care planning for end of life.
-
Developed in partnership with Community Action Suffolk and local partners, a training session for local businesses and people in our community, to have initial conversations, show kindness and signpost residents to support.
-
Created an online Compassionate Map of Halesworth.
-
Held a community memorial event in October 2021 at Kaliwood, Holton, in partnership with Kinda Education, which has led to a yearlong sub-project 'Time in our Lives', using nature and creative-based activities to support people to plan for the end of their lives.
-
Developed a draft bereavement training pack for schools in partnership with Rosedale Funeral Home.
-
Created and displayed compassionate hearts in different shops in Halesworth in the run up to Christmas.
-
Worked together to support individuals with resources and assets from across the community.
Through the Compassionate Communities work and the publicity that has been generated, the charity has raised the profile and public awareness, and initiate conversations around death, dying and bereavement.
A very special thank you to Dr Guy Peryer, NIHR ARC East of England / UEA, without whom this project would not have been possible. Guy's advice, guidance and mentorship has supported the charity to develop a compassionate community and deliver the project outcomes.
With additional funding provided through NIHR ARC East of England, we have jointly commissioned a video poem about our compassionate community and an audio play with a focus on planning for end of life, both of which will be delivered in 2022.
- 4 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Achievements and performance (continued)
Dee's Den, The Pear Tree Fund's Charity Shop, run by volunteers, reopened in July 2021, following a period of closure caused by the Covid pandemic. Despite the very real challenges of running a retail shop under ongoing restrictions, the volunteers organised a Dee's Den Fashion Show, a highly successful evening of fashion and fizz, glitz and glamour. Another Fashion Show is planned for 2022.
Treasurer's Report
As was the case with the 2020 Accounts it is difficult to identify what should be considered a trend, and what is a result of so many contrasting factors such as Covid-19, and the disruption caused by lock downs, and other factors arising from the pandemic. For example, the opening of the Pear Tree Centre in 2020 coincided closely with the first lockdown, and Covid-19 became a major issue over the following fifteen months, as further lockdowns of varying degrees hit the country as a whole. The other major factor which impacted the Charity over the period was the constant evolution of services provided during this period, due to increased usage of the Pear Tree Centre.
The Charity, however, has proved resilient during the Covid pandemic, and the Charity's funding has remained in a healthy position.
Income - Total income has increased from £155,574 in 2020 to £263,115 in 2021, or an increase of £107,541. The main points of interest are that Donations and Legacies have increased from £126,738 in 2020 to £201,848, or an increase of £75,110.
During the year the Charity received a total of £12,574 of Covid Grants from the government. This was made up of three amounts of £7,811, £2,096 and £2,667. Also, a furlough refund was received from HMRC for the sum of £4,007.
Expenditure - The obvious impact of the increased usage of the Pear Tree Centre shows an increase in expenditure from £136,916 in 2020 to £259,035 in 2021, or an increase of £122,119. The cost of employment increased from £51,536 in 2020 to £113,837 in 2021 - an increase of £62,301. The other expense which shows a large increase was Direct Support Costs of £46,852, which increased from £11,478 in 2020. This is a result of the increase in costs of counselling, complementary therapies, and end of of life care.
The effect in 2021 of the activities mentioned was a £4,080 positive movement of funds, which constitutes a satisfactory result given the circumstances under which the Pear Tree Fund was operating.
Balance Sheet - the "cash and bank" balances have increased from £362,594 in 2020 to £368,136 in 2021. Total charity funds have increased to £1,229,860 in 2021 from the 2020 position of £1,225,780.
In respect of the funds available to the Charity, their intended use has been allocated by the Board of Trustees with the intention of achieving good financial stewardship and supporting the growth of the Charity's future operations. The resulting split of funds is:
Restricted Income Funds are £16,816 - the use of which is restricted according to the original intention of the donor.
- 5 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Achievements and performance (continued)
Unrestricted Income Funds are split : Designated funds of £206,438, which constitutes funds designated by the Board of Trustees towards specific purposes, and free reserves £143,684. These can be allocated towards future needs, subject to Board approval.
The Trustees consider that the past two years have given an opportunity to work towards establishing a good working model for the new Pear Tree Centre, and diversifying income streams with the aim of achieving long term sustainability.
In respect to the future, the Charity will be aiming towards greater diversity in its income sources and will also continue exploring additional contracts from Third sector and Statutory sources, as well as the growth of grant income, donations and legacies, and with more emphasis on the growth of fundraising.
Much work needs to be done, but the first two years of operation of the Pear Tree Centre gives cause for optimism over the coming years.
Edwin M Edwards FCCA Treasurer
- 6 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Financial review
Total income for the year amounted to £263,115 (2020: £155,574). After expenditure of £259,035 (2020: £136,916), the net income for the year amounted to £4,080 (2020: £18,658).
Reserves policy
The charity's reserves policy has been reviewed by the trustees given that 2021 has very much been a transition period in the growth of the charity. The charity's reserves policy has therefore been amended so that free reserves should equate to approximately six months unrestricted, budgeted expenditure rather than actual expenditure, in order to reflect the anticipated increase in operations in 2022. Using this basis, 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 £143,684. The trustees have also agreed that the reserves policy will revert to the original policy of approximately six months unrestricted actual expenditure from the 2022 accounts onwards as the actual expenditure for 2022 is likely to properly reflect the charity's operational costs moving forward.
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 designated to funding a retail manager for The Pear Tree Fund's Charity Shop for a two year period and further development of the charity's retail operations. It is anticipated that the running costs of the charity from 2022 will be over £300,000 a year.
Principal funding sources
The charity is fortunate in that it continued to receive a considerable amount of support from the local community, and grant making trusts and foundations in 2021. 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 cost; St Elizabeth Hospice and Norfolk and Waveney NHS CCG for a grant of £24,000 to deliver the Compassionate Communities Project Suffolk Community Foundation for £17,773 in funding Carers Art Therapy from the Suffolk Carers Fund; and The February Foundation, who made a 3-year commitment towards core costs for the Pear Tree Centre with a second year payment of £7,500.
The Trustees are most grateful for the generous support of Halesworth Town Council in providing a grant of £3,000 towards the costs of establishing a head office in the town centre and to Suffolk Community Foundation for a grant of £5,019 towards our head office costs. The Albert Hunt Trust also generously gave a grant of £5,000 for the charity's core costs and another £3,000 was received from The Lord Belstead Charitable Trust. We are indebted to a number of grant-making trusts and foundations who provided funds towards the cost of delivering counselling services, including, £6035 from Suffolk Community Foundation (Reviving our Community DCMS Fund), £4,000 from The Geoffrey Watling Charity; £3,000 from Mrs Smith & Mount Trust (first of two annual payments); £3,000 from The Simon Gibson Charitable Trust; and £1,000 from Adnams Community Trust.
Thanks, are also due to East Suffolk Council, who provided a £5,000 grant for a new initiative, 'Cooking for One', supporting those who have experienced bereavement; Leeds Building Society for giving a £1,000 grant towards new PCs to support development of digital inclusion support; and to a trust that wishes to remain anonymous for a grant in the sum of £3,000 to cover the cost of providing social welfare advice in 2021.
£61,551 was received through the generous legacies left by local people and £16,910 in donations. Despite the challenges imposed by the pandemic, over £14,000 was generated from fundraising events, including almost £5,000 from the charity's annual Golf Day. The Trustees would like to offer a special thanks to the volunteers of Dee's Den, whose time and commitment provides the charity with much needed income. From a combination of trading income and COVID grants, Dee's Den's income was over £30,000 in in 2021.
- 7 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Most of the charity's income continues to be received from donations, legacies, and grants. A challenge in 2022 and beyond is to secure sustainable and diverse income and funding streams to support the delivery of our charitable objectives.
Plans for future periods
Development of group activities, including peer support, is a key priority and focus for the charity in 2022. Work began in late 2021 on the development of a cancer support group led by those with lived experience of cancer. 'Peer Relief' launched in February 2022, but work is ongoing to nurture, develop, publicise, and grow the group. Following feedback from our beneficiaries and stakeholders, we will be establishing separate Men's and Women's Wellbeing peer support groups, offering safe spaces to to share, discuss and make social connections. Reaching more male beneficiaries is also a priority (25/75 male/female split at the end of 2021). We have identified a local need for peer support groups or activities for people living with Diabetes, Stroke and Long Covid and will explore this further in the second half of 2022. A craft group, 'Crafty Chatter', was established in early 2022 by two beneficiaries of the charity, with support from volunteers and staff.
Creating an online referral form linked to our CRM database will simplify the referral process and improve accessibility for professionals, families, and beneficiaries.
Improving access to our services and increasing their reach across our geographical area of benefit is a key priority and focus in 2022. Full rollout of our home visiting service will be implemented in the first half of the year, including the associated infrastructure, systems and processes needed to support this. We will establish and hold 'outreach' sessions in community hubs in towns across the area we cover, starting with Beccles and Bungay.
Establishing the charity's new head office in Halesworth town centre (delayed from 2021) will support the charity's growth and development by providing a dedicated space for the CEO and Financial Manager to work. It will also offer opportunities to co-locate and collaborate with partner organisations. Opening the office to the public part of the time will give the charity greater visibility in Halesworth and enable us to engage with local residents and signpost people who need support to the Pear Tree Centre. An expanded internal telephone system will connect the Pear Tree Centre, head office and Dee's Den and provide the public with one number for the charity using an options system. As the call volumes to the Pear Tree Centre continue to increase, there is an opportunity for calls to be redirected to volunteers at head office at peak times.
Integrating a 'Compassionate Communities' approach into our 'Business As Usual', including continuing to facilitate the 'Community of Practice', will enable us to build on the legacy of the funded project, develop an evidence base for additional funding and stay firmly rooted with our original charitable objectives. The launch and distribution of the jointly commissioned audio play and video poem will also further our compassionate community ambitions.
Recruiting a 'Retail Manager' in 2022 will enable us to secure the future of Dee's Den and invest in developing and potentially expanding our retail operations.
- 8 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Embedding new outcomes measure systems within practice, including the Outcomes Star, Core 34, The Warwick-Edinburgh Mental Wellbeing Scale WEMWBS, will provide us with the data and evidence to demonstrate the impact and effectiveness of our interventions on our beneficiaries and their families.
We will seek extend and increase and tend our influence and voice the local VCSE and health economy. We will work in partnership with East Suffolk Council to develop and facilitate a South Waveney VCSE Network, which feeds into the local Community Partnerships.
Identifying further opportunities to collaborate and work in partnership is a key strategic priority for 2022. For example, we will actively seek to develop a complementary service offer with the volunteer support organisations across Halesworth, Beccles and Bungay. The charity will also look to strengthen or establish strategic partnerships with Suffolk Family Carers, BSEVC and the Alzheimer's Society.
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.
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 2022.
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.
- 9 -
The Pear Tree Fund
Trustees' annual report (continued)
Year ended 31 December 2021
Structure, governance and management (continued)
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 28 April 2022 and signed on behalf of the board of trustees by:
Dr D C Morley Chair
- 10 -
The Pear Tree Fund
Independent examiner's report to the trustees of The Pear Tree Fund
Year ended 31 December 2021
I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 December 2021 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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
-
the financial statements do not accord with those records; or
-
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
- 11 -
The Pear Tree Fund
Statement of financial activities
Year ended 31 December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 86,561 | 114,787 | 201,348 | 126,738 |
| Charitable activities | 5 | 10,034 | – | 10,034 | 2,628 |
| Other trading activities | 6 | 47,053 | – | 47,053 | 22,370 |
| Investment income | 7 | 673 | – | 673 | 2,017 |
| Other income | 8 | 4,007 | – | 4,007 | 1,821 |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| Total income | 148,328 | 114,787 | 263,115 | 155,574 | |
| =============================== | =============================== | =============================== | =============================== | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 9 | (2,968) | (58) | (3,026) | (1,443) |
| Expenditure on charitable activities | 10 | (133,625) | (122,384) | (256,009) | (135,473) |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| Total expenditure | (136,593) | (122,442) | (259,035) | (136,916) | |
| =============================== | =============================== | =============================== | =============================== | ||
| Net income before transfer of funds | 11,735 | (7,655) | 4,080 | 18,658 | |
| Transfers between funds | (2,650) | 2,650 | – | – | |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| Net movement in funds | 9,085 | (5,005) | 4,080 | 18,658 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 1,203,959 | 21,821 | 1,225,780 | 1,207,122 | |
| --------------------------------------- | ------------------------------- | --------------------------------------- | --------------------------------------- | ||
| Total funds carried forward | 1,213,044 | 16,816 | 1,229,860 | 1,225,780 | |
| ======================================= | =============================== | ======================================= | ======================================= |
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 14 to 25 form part of these financial statements.
- 12 -
The Pear Tree Fund
Balance sheet
31 December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 14 | 862,922 | 886,761 | ||
| Current assets | |||||
| Debtors | 15 | 17,261 | 5,340 | ||
| Cash at bank and in hand | 368,136 | 362,594 | |||
| ------------------------------- | ------------------------------- | ||||
| 385,397 | 367,934 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 16 | (18,459) | (28,915) | ||
| ------------------------------- | ------------------------------- | ||||
| Net current assets | 366,938 | 339,019 | |||
| --------------------------------------- | --------------------------------------- | ||||
| Total assets less current liabilities | 1,229,860 | 1,225,780 | |||
| --------------------------------------- | --------------------------------------- | ||||
| Net assets | 1,229,860 | 1,225,780 | |||
| ======================================= | ======================================= | ||||
| Funds of the charity | |||||
| Restricted funds | 16,816 | 21,821 | |||
| Unrestricted funds | 1,213,044 | 1,203,959 | |||
| --------------------------------------- | --------------------------------------- | ||||
| Total charity funds | 18 | 1,229,860 ======================================= |
1,225,780 ======================================= |
These financial statements were approved by the board of trustees and authorised for issue on 28 April 2022 and are signed on behalf of the board by:
Dr D C Morley Chair
The notes on pages 14 to 25 form part of these financial statements.
- 13 -
The Pear Tree Fund
Notes to the financial statements
Year ended 31 December 2021
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.
- 14 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
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.
-
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.
- 15 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
(e) Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
(f) 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:
-
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
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.
-
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.
- 16 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
(g) 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.
(h) 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 |
(i) 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.
(j) 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.
- 17 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 16,910 | – | 16,910 | |
| Legacies | ||||
| Legacies | 61,551 | – | 61,551 | |
| Grants | ||||
| Grants | 8,100 | 114,787 | 122,887 | |
| -------------------------- | ------------------------------- | ------------------------------- | ||
| 86,561 | 114,787 | 201,348 | ||
| ========================== | =============================== | =============================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 2,767 | 22,162 | 24,929 | |
| Legacies | ||||
| Legacies | 21,266 | – | 21,266 | |
| Grants | ||||
| Grants | 10,000 | 70,543 | 80,543 | |
| -------------------------- | -------------------------- | ------------------------------- | ||
| 34,033 | 92,705 | 126,738 | ||
| ========================== | ========================== | =============================== | ||
| 5. | Charitable activities | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Other income | 10,034 | – | 10,034 | |
| ========================== | ============= | ========================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Other income | – | 2,628 | 2,628 | |
| ============= | ====================== | ====================== | ||
| 6. | Other trading activities | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Fundraising events | 14,135 | – | 14,135 | |
| Other trading activities | 32,918 | – | 32,918 | |
| -------------------------- | ------------- | -------------------------- | ||
| 47,053 | – | 47,053 | ||
| ========================== | ============= | ========================== |
- 18 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
6. Other trading activities (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Fundraising events | 3,155 | 3,279 | 6,434 |
| Other trading activities | 15,936 | – | 15,936 |
| -------------------------- | ---------------------- | -------------------------- | |
| 19,091 | 3,279 | 22,370 | |
| ========================== | ====================== | ========================== |
7. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 673 | 673 | 2,017 | 2,017 | |
| ============= | ============= | ====================== | ====================== | ||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Furlough income | 4,007 | 4,007 | 1,821 | 1,821 | |
| ====================== | ====================== | ====================== | ====================== | ||
| 9. | Costs of raising donations and legacies | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Lottery prize costs | 1,844 | – | 1,844 | ||
| Other fundraising costs | 1,124 | 58 | 1,182 | ||
| ---------------------- | ------------- | ---------------------- | |||
| 2,968 | 58 | 3,026 | |||
| ====================== | ============= | ====================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Lottery prize costs | 1,443 | – | 1,443 | ||
| Other fundraising costs | – | – | – | ||
| ---------------------- | ------------- | ---------------------- | |||
| 1,443 | – | 1,443 | |||
| ====================== | ============= | ====================== |
- 19 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
10. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Wages and salaries | 32,113 | 81,724 | 113,837 | |
| Direct support costs | 8,924 | 37,928 | 46,852 | |
| Stationery and sundry | 11,791 | 2,640 | 14,431 | |
| Insurance | 3,600 | – | 3,600 | |
| Electricity, rent and rates | 14,172 | – | 14,172 | |
| Legal and professional fees | 4,490 | – | 4,490 | |
| Repairs and maintenance | 5,503 | – | 5,503 | |
| IT costs | 14,530 | – | 14,530 | |
| Advertising | 6,747 | 92 | 6,839 | |
| Stationery | 1,782 | – | 1,782 | |
| Depreciation | 27,492 | – | 27,492 | |
| Governance costs | 2,481 | – | 2,481 | |
| ------------------------------- | ------------------------------- | ------------------------------- | ||
| 133,625 | 122,384 | 256,009 | ||
| =============================== | =============================== | =============================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Wages and salaries | 1,821 | 49,715 | 51,536 | |
| Direct support costs | 2,401 | 9,077 | 11,478 | |
| Stationery and sundry | 4,742 | 8,791 | 13,533 | |
| Insurance | 939 | 2,877 | 3,816 | |
| Electricity, rent and rates | 8,629 | 4,198 | 12,827 | |
| Legal and professional fees | – | 5,321 | 5,321 | |
| Repairs and maintenance | 1,496 | 2,774 | 4,270 | |
| IT costs | 1,441 | 2,672 | 4,113 | |
| Advertising | – | 2,117 | 2,117 | |
| Stationery | – | – | – | |
| Depreciation | 343 | 23,749 | 24,092 | |
| Governance costs | 2,370 | – | 2,370 | |
| -------------------------- | ------------------------------- | ------------------------------- | ||
| 24,182 | 111,291 | 135,473 | ||
| ========================== | =============================== | =============================== | ||
| Analysis of governance costs: | ||||
| Unrestricted | Total Funds | Total Funds | ||
| Funds | 2021 | 2020 | ||
| £ | £ | £ | ||
| Independent examination fees | 2,481 | 2,481 | 2,370 | |
| ====================== | ====================== | ====================== | ||
| 11. | Independent examination fees | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 2,481 | 2,370 | ||
| ====================== | ====================== |
- 20 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 105,482 | 47,368 |
| Social security costs | 4,430 | 2,996 |
| Employer contributions to pension plans | 3,925 | 1,172 |
| ------------------------------- | -------------------------- | |
| 113,837 | 51,536 | |
| =============================== | ========================== |
The average head count of employees during the year was 7 (2020: 4).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
13. Trustee remuneration and expenses
No trustee received any remuneration or expenses in the year (2020: £Nil).
14. Tangible fixed assets
| Fixtures and | |||||
|---|---|---|---|---|---|
| Buildings | fittings | Equipment | Land | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 January 2021 | 812,098 | 28,030 | 22,325 | 48,400 | 910,853 |
| Additions | – | 440 | 10,580 | – | 11,020 |
| Disposals | – | (2,593) | (6,606) | – | (9,199) |
| ------------------------------- | -------------------------- | -------------------------- | -------------------------- | ------------------------------- | |
| At 31 December 2021 | 812,098 | 25,877 | 26,299 | 48,400 | 912,674 |
| =============================== | ========================== | ========================== | ========================== | =============================== | |
| Depreciation | |||||
| At 1 January 2021 | 15,754 | 4,690 | 3,648 | – | 24,092 |
| Charge for the year | 18,097 | 4,518 | 4,877 | – | 27,492 |
| Disposals | – | – | (1,832) | – | (1,832) |
| ------------------------------- | -------------------------- | -------------------------- | -------------------------- | ------------------------------- | |
| At 31 December 2021 | 33,851 | 9,208 | 6,693 | – | 49,752 |
| =============================== | ========================== | ========================== | ========================== | =============================== | |
| Carrying amount | |||||
| At 31 December 2021 | 778,247 | 16,669 | 19,606 | 48,400 | 862,922 |
| =============================== | ========================== | ========================== | ========================== | =============================== | |
| At 31 December 2020 | 796,344 | 23,340 | 18,677 | 48,400 | 886,761 |
| =============================== | ========================== | ========================== | ========================== | =============================== |
15. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 520 | – |
| Prepayments and accrued income | 11,821 | 5,257 |
| Other debtors | 4,920 | 83 |
| -------------------------- | ---------------------- | |
| 17,261 | 5,340 | |
| ========================== | ====================== |
- 21 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
16. Creditors: Amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 4,704 | 1,564 |
| Accruals and deferred income | 8,901 | 2,370 |
| Social security and other taxes | 3,974 | 922 |
| Other creditors | 880 | 24,059 |
| -------------------------- | -------------------------- | |
| 18,459 | 28,915 | |
| ========================== | ========================== |
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 £3,925 (2020: £1,172).
- 22 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
18. Analysis of charitable funds
| Balance at 1 | Balance at | ||||
|---|---|---|---|---|---|
| Jan 2021 | **Income ** | Expenditure | Transfers | 31 Dec 2021 | |
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General funds | 997,521 | 148,328 | (136,593) | (2,650) | 1,006,606 |
| 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 |
| --------------------------------------- | ------------------------------- | ------------------------------- | ---------------------- | --------------------------------------- | |
| 1,203,959 | 148,328 | (136,593) | (2,650) | 1,213,044 | |
| Restricted funds | |||||
| Heveningham Hall Cost | |||||
| Support | 20,000 | – | (20,000) | – | – |
| Cost support fund | 1,821 | – | (1,821) | – | – |
| Norfolk Community Foundation | – | – | (2,800) | 3,650 | 850 |
| St Elizabeth Hospice | – | 24,000 | (24,000) | – | – |
| University of East Anglia | – | 1,500 | (680) | – | 820 |
| Suffolk Community Foundation | – | 17,733 | (8,899) | – | 8,834 |
| East Suffolk Council Boost | |||||
| Scheme | – | 5,000 | (1,688) | – | 3,312 |
| Halesworth Town Council | – | 3,000 | – | – | 3,000 |
| Adnams | – | 1,000 | (1,000) | – | – |
| The Big C Appeal | – | 30,000 | (30,000) | – | – |
| Leeds Building Society | – | 1,000 | – | (1,000) | – |
| Geoffrey Watling Charities | – | 4,000 | (4,000) | – | – |
| Suffolk Community Foundation | – | 6,036 | (6,036) | – | – |
| February Foundation | – | 7,500 | (7,500) | – | – |
| Mrs Smith and Mount | – | 3,000 | (3,000) | – | – |
| Simon Gibson Charitable Trust | – | 3,000 | (3,000) | – | – |
| Suffolk Communities | |||||
| Foundation | – | 5,018 | (5,018) | – | – |
| The Mrs L D Rope Third | |||||
| Charitable Settlement | – | 3,000 | (3,000) | – | – |
| --------------------------------------- | ------------------------------- | ------------------------------- | ---------------------- | --------------------------------------- | |
| 21,821 | 114,787 | (122,422) | 2,650 | 16,816 | |
| --------------------------------------- | ------------------------------- | ------------------------------- | ---------------------- | --------------------------------------- | |
| 1,225,780 | 263,115 | (259,035) | – | 1,229,860 | |
| ======================================= | =============================== | =============================== | ====================== | ======================================= | |
| 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 |
- 23 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
| 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 ======================================= |
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 legacies which the trustees wish to ringfence towards funding a retail shop manager for the charity shop for two years.
Heveningham Hall made a grant towards running costs of the centre in the 2019. The balance of this has been spent during 2021.
The balance of the cost support fund was expended during the year.
A grant from Norfolk Community Foundation was received in 2020 for support for Holton, Weston and Sotherton residents but was incorrectly classified as unrestricted. This has been transferred to restricted funds in the year and £2,000 was spent.
Grants were received from St Elizabeth Hospice and University of East Anglia in the year for the Compassionate Communities project. A balance of £820 has been carried forward.
Suffolk Community Foundation provided a grant toward art therapy courses. A balance of £8,834 has been carried forward.
A grant from East Suffolk Council was received toward the Cook and Eat Project. A balance of £3,312 has been carried forward.
Halesworth Town Council provided a grant towards head office set up costs. The full balance of this grant has been carried forward.
Grants from Adnams, Geoffrey Watling Charity, February Foundation, Mrs Smith and Mount and Simon Gibson Charitable Trust were received towards the provision of counselling services. All of these were fully expended during the year.
During the year grants were received from The Big C Appeal totalling £30,000 towards running costs of the centre. This was fully expended during the year.
Leeds Building Society provided funding towards the cost of purchasing new IT equipment. This was spent during the year and the cost of the capitalised equipment has been transferred to unrestricted funds.
Suffolk Community Foundation provided a grant towards the Reviving Communities project. A further grant was provided in relation to head office costs. Both were fully spent during the year.
The Mrs L D Rope Third Charitable Settlement provided a grant towards the costs of delivery of social welfare advice and this was spent in full during the year.
- 24 -
The Pear Tree Fund
Notes to the financial statements (continued)
Year ended 31 December 2021
19. Analysis of net assets between funds
| Net current | Tangible fixed |
Total Funds | |
|---|---|---|---|
| assets | assets | 2021 | |
| £ | £ | £ | |
| Restricted Income Funds: | |||
| Norfolk Community Foundation | 850 | – | 850 |
| University of East Anglia | 820 | – | 820 |
| Suffolk Community Foundation | 8,834 | – | 8,834 |
| East Suffolk Council | 3,312 | – | 3,312 |
| Halesworth Town Council | 3,000 | – | 3,000 |
| -------------------------- | ------------- | -------------------------- | |
| 16,816 | – | 16,816 | |
| Unrestricted Income Funds: | |||
| General Funds | 143,684 | 862,922 | 1,006,606 |
| 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 | 366,938 | 862,922 | 1,229,860 |
| =============================== | =============================== | ======================================= | |
| 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 |
| =============================== | =============================== | ======================================= |
20. Related parties
Donations without conditions totalling £285 (2020: £616 from three trustees) were received from two trustees during the year.
50:50 club income of £210 was received from three trustees (2020: Nil).
- 25 -