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The Pimlico Foundation
Report and Accounts
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year ended 31 December 2022
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## **THE PIMLICO FOUNDATION** ## **LEGAL & ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** 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 D Jeavons MANAGING THE CHARITY B Rochelle V Stovell Lis Goddard INDEPENDENT EXAMINER Victoria Butters c/o Holy Brook Associates Ltd Curious Lounge, 1st Floor Pinnacle Building, Tudor Road, Reading, RG1 1NH ## **INDEX** Page 1 Legal & Administrative Details Pages 2-5 Trustees' Report Page 6 Independent Examiner's Report Page 7 Receipts and Payments Account Page 8 Statement of Assets & Liabilities Pages 9-10 Notes to the Accounts Page 1 ## **THE PIMLICO FOUNDATION** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2022. ## **Objects of the charity** The charity is a public benefit entity in the form of a 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** ## **Hot chocolate Thursdays - Community outreach:** Every Thursday during school term we run our ever-popular community outreach project 'hot chocolate thursdays' within Churchill Gardens Estate, where residents of the community come out during all weather conditions to engage, build community cohesion, play sports/games, catch up, and share their afternoon with us. Very popular with the local school kids and familys who come over and their currency for receiving a cup of hot chocolate is to tell us one thing they've learnt in school for the day. We have weekly vistors from the local council teams, police, volunteers and other youth organisations We've piloted a session in Lillington Gardens Estate, which will be established as the Outbreak team grows with another full time member on board, enabling the session to be run simultaneously. ## **Food Programmes:** This year we partnered with 'change4life' to establish a family cooking session, whereby children, youth and families learn to cook healthy meal on a budget. This has become very popular seeing 3040 attendees each session. We also recieved 'HAF' funding in order to make and give away hotfood meals to local families in the area, with over 400 meals made. Page 2 ## **Holiday Clubs: During the summer holiday** During the school summer holiday, we ran our annual holiday club during August welcoming 40 young people; with the help of volunteers from St Gabriels Church and young leaders who have been through our programmes. During the week we held educational and employability workshops, organised sports and various off-site trips including go-karintg, roller-skating, sailing/kayaking on the river thames and a thorpe park trip. Holiday clubs are a vital need for families in the area as many of the kids come from single parent homes, where the demand for support with enabling their children to engage in extra curricular activities are important, particularly through the school holidays. **Messy Church:** Messy Church has continued in partnership with St James the Less Church, telling the story of Jesus in fun and interactive ways, through stories and various work stations. On average we saw over 100 children and families attendee each session. ## **Mentoring:** We have continued mentoring children in Pimlico Academy, establishing great relationships with the ## **Football - London Sport** We began regular weekly football session on the sky pitch within lillinghton gardens estate. The sessions began with some coaching drills and ended in a large football match. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission. ## **Future plans** For 2023 we would like to develop and establish Hot Chocolate Thursdays in both Churchill and Lillington Gardens, running both simultaneously. A main focus will be growing and establishing a 'Sports Hub' with weekly sports activities and a sports coaching package to offer in schools (inc running P.E lessons, school teams). We received funding from London Sport to develop a rollerskating club and cycling group. We are planning to start roller-skating sessions weekly from April 2023. Attendees will learn skills such as pivoting, weaving, turning, braking, transitioning, skating backwards, spins and will visit roller skating rinks in London; Roller Nation (North London), and Flippers World (West London). Grow team, with additional full time/part-time staff and develop apprenticeship scheme. ## **Financial review** Overall, our financial position was significantly altered through COVID-19. The reduction in activity led to a corresponding reduction in funding - in particular grants that we often receive to support specific events (such as holiday clubs). We also saw some drop off in giving due to financial hardship. As we sought to ramp up activities again in 2022 (with a corresponding increase in costs) we saw challenges in maintaining our preferred 3 months of financial reserves (approximately 30k GBP). We also experienced delays in certain key financial processes (e.g. expense submission). These processes were reviewed and improved during the year and we have seen material improvements in 2023. Our principle sources of funding were individual donations from private individuals, support from local churches, and seed funding from Scripture Union. Page 3 ## **Reserves policy** The charity seeks to keep 3 months of funds in reserve at all times (approximately 30k GBP) in order to keep operating sustainably. However, we struggled to maintain this during 2022 (although we are healthier in 2023). An arrangement has been made with key donors to the charity for injection of funds in the case of cash shortfall. This was done at the end of 2022 to rectify the challenges in the cash position. ## **Funds in deficit** At the end of the year we were in a difficult position as we have insufficient funds to pay our remaining bills. However, this situation was swiftly rectified in early 2023 through several generous donations and the charity is in much better health in 2023 with reserves having been restored to an appropriate level. ## **Governance** During 2022, the Trustees met reguarly (3 times during the year) to ensure the smooth running of the charity. The day to day line management of the youth workers was carried out by Rev Lis Goddard acting on behalf of the trustees. To assist Lis in her duties, a management board has been created to provide operational oversight of the charity on a day-to-day basis. ## **Risk Statement** The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks. Our principle risk relates to the safeguarding of young people. We have appointed a safeguarding officer (Vivien Stovell) to ensure that we continue to meet our safeguarding responsibilities. Vivien is regularly visiting the youth workers and provides regular reports to Trustees to ensure we have strong day-to-day control of our safe guarding risks. During 2022, an there was increasing concern from the trustees around the financial health of the charity. This was regularly reviewed and a mitigation was put in place by arranging emergency funding through generous donations if required. We also undertook a review of financial controls - particularly around expenses - which has continued into 2023. This has led to improvements in the processes of filing receipts in a timely fashion. Page 4 ## **Responsibilities of trustees** Charity law requires us as Trustees to prepare financial 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: Page 5 ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF** ## **THE PIMLICO FOUNDATION** I report to the trustees on my examination of the accounts of The Pimlico Foundation ('the charity') for the year 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 of my examination of the charity’s accounts carried out under section 145 of the 2011 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 come to my attention (other than that disclosed below) in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or 2. the accounts do not accord with the accounting records. I have no other 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. Victoria Butters c/o Holy Brook Associates Ltd Curious Lounge, 1st Floor Pinnacle Building, Tudor Road, Reading, RG1 1NH Date: Disclosures 1) During the financial year procedures for recording and tracking restricted funds were not robust. 2) At the end of the financial year, liabilities exceeded assets held by the charity. Page 6 ## **THE PIMLICO FOUNDATION** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** |Notes
**_Income receipts_**
Donations, legacies and grants
Gift aid receipts
Income from charitable activities
Other
**_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
Purchase of fixed assets
Purchase of investments
Loans made|General
Funds
£
70,276
-
311
70,587
70,587
80,892|Restricted
Funds
£
15,500|2022
£
85,776
-
311
-
86,087
86,087
96,392
96,392
-
-
-
-
96,392
(10,305)
-
(10,305)
10,687
382
-|2021
£| |---|---|---|---|---| |||||85,438
-
-
-| |||15,500||85,438| |||15,500
15,500
15,500
15,500
0
0
-
-||| |||||85,438| |||||85,365| ||80,892|||85,365| ||80,892
(10,305)
(10,305)
10,687
382
-|||-
-
-| |||||-| |||||| |||||85,365| |||||72
-| |||||72
10,615| |||||10,687| |||||-| Note that an error appeared in 2021 accounts, which have been corrected in the comparative numbers shown here The notes on pages 9-10 form part of these accounts. Page 7 ## **THE PIMLICO FOUNDATION** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** |**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
Other accrued expenses|General
funds
£
332
50
**382**
-
**-**
1,032
-
**1,032**|Restricted
funds
£
-
-
**-**
-
**-**
-
-
**-**|2022
£
332
50|2021
£| |---|---|---|---|---| |||||10,137
50| ||||**382**|**10,187**| ||||-
**-**
1,032
-
**1,032**|500| |||||**-**| |||||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 |by|||date|| |---|---|---|---|---| ||--------------------------------------------|||-------------| ||Ben Rochelle|Dan Jeavons||| The notes on pages 9-10 form part of these accounts. Page 8 ## **THE PIMLICO FOUNDATION** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** ## **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 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared 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 available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments. These accounts are prepared on the basis that the charity is a going concern. There are no material uncertainties about the charities ability to continue to operate |**2**
**Payments in relation to charitable activities undertaken directly**
Employment costs
Direct programme costs
Food purchases
Equipment
Property costs (Note 2a)
Printing and Postage
Phones and software
Travel
Web design and IT equipment
Other professional fees
Accounts & examination
Insurance
Miscellaneous costs
**2**
**(a)**
Property costs comprise:
Rent
-
Cleaning and Maintenance
-
Council tax & water rates
-
-|General
funds
£
44,624
5,828
2,418
613
-
15,458
366
2,048
440
-
-
3,082
995
6,245
80,892
15,345
113
-
15,458|Restricted
Funds
£
10,500
2,000
1,000
2,000
15,500
-
-
-
-|Total
Total
2022
2021
£
£| |---|---|---|---| ||||44,624
59,956
16,328
9,817
4,418
2,752
387
1,454
15,458
5,941
366
609
2,048
1,301
2,440
91
-
-
3,082
1,296
995
1,012
6,245
1,136| ||||96,392
85,365| ||||- 0.00
15,345
5,754
113
187
-
-| ||||15,458
5,941| ## **3 Transactions with related parties** In 2021 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 was repaid during 2022. This amount shows under 'other debtors' in the 2021 comparator figure. Page 9 ## **THE PIMLICO FOUNDATION** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** ## **4 Movement on designated, restricted and endowment funds** |During 2022||||| |---|---|---|---|---| |**Restricted funds**|**income**|Expenditure|Opening balance Closing balance|| |Westminster young foundation fund|10,500|10,500|-|-| |Big Local|5,000|5,000|-|-| ||**15,500**|**15,500**|**-**|**-**| |During 2021||||| |**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**|**-**|**-**| ## **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 2021 ## **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 £560+VAT and regular bookkeeping fee totalling £864+VAT ## **7 Staffing** The average number of staff employed during 2022 was 1 (2021, 2) No employees received employee benefits (excluding employer pension costs) of more than £60,000 Page 10