The Pimlico Foundation
Report and Accounts
year ended 31 December 2021
8 VIctoria Road, Reading, RG31 5AD t: 07914 211828 e: rachel@holybrook.com w: www.holybrook.com
THE PIMLICO FOUNDATION
LEGAL & ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 DECEMBER 2021
ADDRESS FOR CORRESPONDENCE
The School House St James The Less Church Moreton Street London, SW1V 2PS GOVERNING DOCUMENT CIO constitution 8 January 2015 amended 25 August 2016 CHARITY REGISTRATION NUMBER 1159844 TRUSTEES RESPONSIBLE FOR J Cameron MANAGING THE CHARITY M Goodacre D Jeavons B Rochelle V Stovell INDEPENDENT EXAMINER Rachel Eden c/o Holy Brook Associates Ltd Curious Lounge, 1st Floor Pinnacle Building, Tudor Road, Reading, RG1 1NH
INDEX
Page 1 Legal & Administrative Details Pages 2-7 Trustees' Report Page 8 Independent Examiner's Report Page 9 Receipts and Payments Account Page 10 Statement of Assets & Liabilities Pages 11-12 Notes to the Accounts
Page 1
THE PIMLICO FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2020.
Objects of the charity
Thecharity is a public benefit entity in theform ofa Charitably Incorporated Organisation (CIO) & governed by a constitution. The charity's principal objects, as set out in its governing document, are:
a) To advance the Christian faith for the benefit of the public in Pimlico and greater London in accordance with the statement of faith appearing in the schedule.
b) In the context of the first object, to advance in life and help young people through the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life and providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
The Pimlico Foundation is affiliated with Scripture Union. The affiliation is informal, but Scripture Union has provided some seed funding for the Pimlico Foundation and has provided advice for trustees.
Summary of the charity's main activities and achievements
Our main activities and achievements in 2021 included the following:
After the challenges of COVID there was a focus on re-building relationships particularly with schools, churches and the local community. We managed to re-launch the majority of our regular projects whilst adjusting to new restrictions.
Food Programmes: In February 2021 we continued the food programme from 2020, with the
on-going purpose of feeding families in most need. During the months of Feb and March we made over 300 meals with a variety of nutritious hotfood that families could come and collect in a takeaway box and bag. Thereweremany parents still recovering from theloss ofincomeduring covid, so this project was vital for the community ensuring that there would be food for them and their families. Theproject was also extended to our holiday clubs, were we received HAF funding to providehot meals for children and young people on free school-meals.
Holiday Clubs: During the easter and summer half-term we were able run our usual Holiday clubs without covid restrictions and saw an improvement with numbers. Holiday clubs wereagain a vital need for families in the area especially for parents who were to require to work during the holidays. We united with other churches and ran sports activities, craft , bible stories , small group activities and off-site trips such as trampolining , bowling and museums. Due to staff changes we were unable to run a holiday club during the October half-term.
Messy Church: With the majority of restrictions lifted we were able to run 5 messy churches with SJTL.
Page 11
One of our most signifcant achievements was the Light Party and Christmas trail, as we were unsure how the last year would impact numbers. Fortunately we had over 450 children and young people engage in both events. We also hosted our Special Messy Church, which is specifically for children with special needs.
Christmas Trail : We managed to double our numbers from last year and welcome 210 children across two schools for the christmas trail. This was significant for us, especially with the difficulties we had running in 2020 during the covid restrictions.
Mentoring: We were able to access local Primary and secondary Schools in the area to
mentor children and young people. Due to staff change we only managed to mentor 2 young people between September and December 2021.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Future plans
For 2022 we would like to continue all our regular projects at full capacity and launch a number of new youth projects. Also build our volunteering networking and potential internship opportunity to grow our offer in the Pimlico area.
Financial review
Overall the financial position of the charity is unchanged basis 2020. Although we ended the year with a slightly lower cash balance, these cash fluctuations have been within the normal range. We are still struggling to maintain a cash buffer of 3 months reserves, and the operations remain underpinned by commitments of generous donors although we see signs of improvement in our situation in 2022.
As part of theannual accounts cycle, weare undertaking a review of our financial controls. In 2021, we saw a few errors occurring - largely due to staff changes. In particular, we see need for improvement in invoice approvals, monthly reconciliations and tracking of restricted giving. We have employed a book keeping servicefrom Holy Brook and implemented Xero to manageour expenses. In late2022 or early 2023 we aim to implement an invoice approval workflow. We also plan to use Xero to track restricted giving.
Our principle sources of funding were individual donations from private individuals, support from local churches, and some support from the local council for specific projects.
Reserves policy
The charity seeks to keep 3 months of funds in reserve at all times in order to keep operating sustainably.
Funds in deficit
Governance
During 2021, the Trustees met reguarly (at least once per quarter) to ensure the smooth running of the charity. The day to day line management of theyouth workers was carried out by Rev Lis Goddard acting on behalfof the trustees. To assist Lis in her duties, during 2018 a management board was created to provideoperational oversight of the charity on a day-to-day basis. This was established in 2019.
Page 12
Risk Statement
Thecharity is exposed to various risks - bethey operational, financial or reputational. Thetrustees review the charity's activities regularly to identify significant risks and, wherepossible, they takeappropriate measures to mitigate those risks. Our principle risk relates to the safeguarding of young people. We have appointed a safeguarding officer (Vivien Stovell) to ensurethat wecontinue to meet our safeguarding responsibilities. Our safeguarding obligations are regularly reviewed by Lis Goddard and the Trustees.
During 2021, an there was ongoing concern from thetrustees around the financial health ofthe charity. This was regularly reviewed and a mitigation was put in place by arranging emergency funding through generous donations if required.
Responsibilities of trustees
Charity law requires us as Trustees to preparefinancial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
BEN ROCHELLE DANIEL JEAVONS
Date: 31/10/22
Page 13
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE PIMLICO FOUNDATION
I report to the trustees on my examination ofthe accounts of ThePimlico Foundation ('the charity') for theyear ended 31 December 2021 on pages 9 to 12 following.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect ofmy examination ofthecharity’s accounts carried out under section 145 of the2011 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 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have cometo my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in accordance with section 130 of the 2011 Act; or
-
the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
c/o Holy Brook Associates Ltd Curious Lounge, 1st Floor Pinnacle Building, Tudor Road, Reading, RG1 1NH
Date: 31/10/22
Page 14
THE PIMLICO FOUNDATION
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Income receipts Donations, legacies and grants Income from charitable activities Total receipts Payments 2 Total payments Transfers between funds Net movement in funds Funds as at last year end Cash funds at this year end A Net of receipts / (payments) before transfers Payments in relation to charitable activities undertaken directly |
General Funds £ 78,138 78,138 78,138 85,365 85,365 85,365 (7,228) - (7,228) 10,615 3,387 |
Restricted Funds £ 7,300 - 7,300 7,300 7,300 7,300 7,300 0 - 0 - |
2021 £ 85,438 - 85,438 85,438 92,665 92,665 92,665 (7,228) - (7,228) 10,615 3,387 |
2020 £ |
|---|---|---|---|---|
| 63,637 - |
||||
| 63,637 | ||||
| 63,637 | ||||
| 54,098 | ||||
| 54,098 | ||||
| 54,098 | ||||
| 9,539 - |
||||
| 9,539 1,076 |
||||
| 10,615 |
The notes on pages 11-12 form part of these accounts.
Page 15
THE PIMLICO FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'trueand fair'view and, as thesereceipts and payments accounts have not (and cannot) beprepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are availablefor useat thediscretion ofthe trustees in furtheranceof thegeneral objectives of thecharity. Designated funds compriseunrestricted funds that havebeen set asideby the trustees for particular purposes. Restricted funds aredonations which are to be used in accordance with specific restrictions imposed by donors; they includedonations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with thedonor's wishes. The natureof therestriction determines whether the endowments represent permanent endowments or expendable endowments.
Theseaccounts areprepared on thebasis that the charity is a going concern. There areno material uncertainties about the charities ability to continue to operate
| 2 Payments in relation to charitable activities undertaken directly Employment costs Event costs Food purchases Equipment Printing costs Phones and software Travel Web design and IT equipment Accounts & examination Insurance Miscellaneous costs |
General funds £ 59,956 9,798 2,752 1,454 609 757 91 544 1,296 1,012 7,097 85,365 0 |
Restricted Funds £ 7,300 7,300 |
Total 2021 £ 67,256 9,798 2,752 1,454 609 757 91 544 1,296 1,012 7,097 92,665 |
Total 2020 £ |
|---|---|---|---|---|
| 58,427 6,744 3,437 3,600 28 1,168 824 449 1,290 904 3,495 |
||||
| 86,795 | ||||
3 Transactions with related parties
One Trustee, Daniel Jeavons made a loan ot the charity during the year. The charity repaid £500 more than the original loan in error. This was identified after the year end and the amount has since been repaid. This amount appears under 'Other Debtors'
Page 16
THE PIMLICO FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
4 Movement on designated, restricted and endowment funds
Restricted funds
Restricted funds income Expenditure Opening balance Closing balance Young Westminster - Summer club 5,300 5,300 - - Young Westminster - Easter club 2,000 2,000 - - 7,300 7,300 - -
There were no restricted funds in the previous year
5 Renumeration of trustees
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity
No trustee expenses have been incurred. However please see note 3 regarding money owed to the charity at year end.
6 Amounts payble to Independent Examiner
The Independent Examiner will receive a fee in relation to the examination of £360+VAT (this is shown in the listing of assets and liabilities
This is in addiion to a fee for preperation of accounts payable to the same firm for £480+VAT
7 Staffing
The average number of staff employed during 2020 was 2.
No employees received employee benefits (excluding employer pension costs) of more than £60,000
Page 17
THE PIMLICO FOUNDATION
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| A Cash funds Cash at bank with immediate access Petty cash B Other monetary assets Other debtors C Liabilities Fee for Accounts and Independent Examination Accrued expenses |
General funds £ 10,137 50 10,187 500 500 986 - 986 |
Restricted funds £ - - - - - - - - |
2020 £ 10,137 50 10,187 500 500 986 - 986 |
2019 £ |
|---|---|---|---|---|
| 1,026 50 |
||||
| 1,076 | ||||
| - | ||||
| - | ||||
| 986 - |
||||
| 936 |
D Guarantees and secured debts
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf
| Ben Rochelle | |||
|---|---|---|---|
| by | Dan Jeavons | date | 31/10/22 |
| -------------------------------------------- | ------------- | ||
| NAME |
The notes on pages 11-12 form part of these accounts.
Page 18
Balance Sheet
The Pimlico Foundation
As at 31 December 2021
| Creditors: amounts falling due withinone year | Creditors: amounts falling due withinone year | one year |
|---|---|---|
| Accruals 986.00 986.00 Total Creditors: amounts falling due within one y 986.00 986.00 Net Current Assets(Liabilities) 9,200.96 9,628.78 Total Assets less Current Liabilities 9,200.96 9,628.78 Creditors: amounts falling due after more than one year |
986.00 986.00 |
|
| Loan (500.00) 0.00 Total Creditors: amounts falling due after more th (500.00) 0.00 Net Assets 9,700.96 9,628.78 Capital and Reserves |
(500.00) 0.00 |
|
| Net Assets | 9,700.96 9,628.78 |
|
| Current Year Earnings | 72.18 10,108.57 |
|
| 9,628.78 (479.79) |
||
| 9,700.96 9,628.78 |
Profit and Loss
The Pimlico Foundation For the year ended 31 December 2021
| Account | 2021 |
|---|---|
| Turnover | |
| Donations | 20,361.44 |
| Grant income | 65,076.06 |
| Total Turnover | 85,437.50 |
| Cost of Sales | |
| Direct Expenses | 340.20 |
| Total Cost of Sales | 340.20 |
| Gross Profit | 85,097.30 |
| Administrative Costs | |
|---|---|
| Audit & Accountancyfees | 1,296.00 |
| Bank Fees | 20.00 |
| Cleaning | 17.47 |
| Entertainment-100% business | 285.97 |
| Equipment(not capitalised) | 1,454.38 |
| Event costs | 1,923.37 |
| Food Expenses | 294.02 |
| Foodprogramme | 287.25 |
| Foodpurchases | 2,170.27 |
| General Expenses | 258.53 |
| HolidayClub | 6,733.28 |
| Hot Chocolate | 6.58 |
| Insurance | 1,011.58 |
| IT Software and Consumables | 543.83 |
| Mentoring | 19.60 |
| MessyChurch | 482.74 |
| Pensions Costs | 9,512.99 |
| Printing& Stationery | 609.07 |
| Rent | 5,754.00 |
| Repairs & Maintenance | 170.00 |
| Salaries | 50,442.94 |
| Staff Training | 270.24 |
| Subscriptions | 587.65 |
| Telephone & Internet | 756.88 |
| Travel - National | 90.98 |
| Youth DropIn | 25.50 |
| Total Administrative Costs | 85,025.12 |
| Operating Profit | 72.18 |
| Profit on Ordinary Activities Before Taxati | 72.18 |
| Profit after Taxation | 72.18 |