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2023-12-31-accounts

The Pimlico Foundation

Report and Accounts

year ended 31 December 2023

THE PIMLICO FOUNDATION

LEGAL & ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 DECEMBER 2023

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 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 2-5 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 2023

The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2023.

Objects of the charity

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 chocolateis to tell us onething they'velearnt in school for the day. We haveweekly vistors from thelocal 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.

Roller-skating Girls Project:

Page 4

One of the objectives for Outbreak was to createand develop a ‘sports hub’ for children and young peopleof the local area. We understand the value of sport and activity not only for the health benefits, but improvement ofoverall wellbeing, mental health and character building. Its also a great tool to teach biblical principles and to bring young people together from various cultures, ethnicities and backgrounds. We was successful in gaining funding London Sport, to run sports sessions specifically for girls for their ‘Space for Girls’ project. The idea is to create safe, welcoming hubs in key London communities for women and girls to be physically active. We decided to host roller-skating sessions which would be an exciting, fun and new experience, different from traditional sports. The sessions have been running every Friday at Lillington Community Hall, growing in numbers and averaging 25-30 girls weekly. We havealso taken the young people on roll-er staking trips to RollerNation and Flippers (roller discos) as well as 'street skates'around Pimlico. The project is now inclusive of boys and we also run two sessions for primary and secondary children. We was also approached by a number of the local primary schools, to run the sessions for teachers. Again these were a success and help build school relationships.

Holiday Clubs: Half-term Clubs and Summer holiday

During the school half-terms we run our 'half-term hang outs' in April and May. It was aimed to be youth led and simply to have a space where they can relax, connect, talk and build relationships. We had great discussions around faith, politicis, family, education and also took them on various fun and educational trips such as art exhibitions, theatre visit and the aquarium. During the 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 bowling, hyde park picnic, ninja warrior trip in Watford and ice-skating. Holiday clubs area vital need for families in thearea as many of Messy Church and Easter/Christmas Trail:

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 50 children and families attendee each session. We also support St James the Less Church deliver the Easter and Christmas trail where the local schools come to experience and re-enactment of the biblical stories. We dress up in the popular biblical characters and have around 90 childrens and 3 schools attend.

Mentoring:

We have continued mentoring children in Pimlico Academy, establishing great relationships with the school Football - London Sport

Webegan regular weekly football session on thesky 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

Page 5

For 2024, the main objective is to grow the team by employing an additional youth worker as we currently has one full-time worker (Team Leader) We would like to develop and establish Hot Chocolate Thursdays in both Churchill and Lillington Gardens, running both simultaneously. Create and develop a 'young leaders' course, where youth (16-18yrs) can become lead volunteers for our community projects. Continue to grow and establish a 'Sports Hub' with weekly sports activities and a sport.

Financial review

Overall, our financial position has significantly improved during the last 18months and we are now able to maintain cash at a level which is consistent with our reserves policy. In December of 2023 we was awarded core funding of 45k for 3years from St Giles and St George. In Febuary 2024 we were also awared an additional 18.5k of core funding from Pimlico Millions. Finally we gained HAF funding from Young Westminster for summer activities, which we have a surplus due to an underspend and been authorised to use remaining funds for future projects. We have significantly improved finanical processes (e.g. expenses submission) after review in 2023.

Our principle sources of funding were grants, individual donations from private individuals, support from local churches, and seed funding from Scripture Union.

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. Whilst we are not quite at this level at the end of the year, overall 2023 has seen a significant improvement in financial sustainability, for the most part due to increased grant funding and continuity in regular giving. An arrangement has been made with key donors to the charity for injection of funds in thecaseof cash shortfall. In previous years, this had been consistently required but was not required in 2023.

Funds in deficit

In contrast to 2022, at the end of 2023 we were not in a deficit situation.

Governance

During 2024, theTrustees met reguarly (3 times during theyear) to ensure thesmooth running of thecharity. The day to day line management of theyouth workers was carried out by Rev Lis Goddard acting on behalfof thetrustees. 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

Page 6

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 ensure that we continue to meet our safeguarding responsibilities. Vivien is regularly visiting theyouth workers and provides regular reports to Trustees to ensurewe havestrong day-to-day control of our safe guarding risks.

During 2023, we continued our focus on financial controls - particularly around expenses. This has led to improvements in the processes of filing receipts in a timely fashion.

Page 7

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:

Page 8

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 havecompleted my examination. I confirm that no material matters havecometo 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 theexamination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Rachel Eden

c/o Holy Brook Associates Ltd Curious Lounge, 1st Floor Pinnacle Building, Tudor Road, Reading, RG1 1NH

Date: 31st October 2024

Disclosures

2) At the end of the financial year, liabilities exceeded assets held by the charity.

Page 9

THE PIMLICO FOUNDATION

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

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
£
1,08,127
-
-
-
1,08,127
1,08,127
89,340
Restricted
Funds
£
14,235
2023
£
1,22,362
-
-
-
1,22,362
1,22,362
1,00,146
1,00,146
-
-
-
-
1,00,146
22,217
-
22,217
392
22,608
2022
£
85,776
-
311
-
14,235 86,087
86,087
96,382
96,382
-
89,340
18,787
18,787
18,787
-
-
-
-
96,382
(10,295)
-
(10,295)
10,687
392

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 10

THE PIMLICO FOUNDATION

STATEMENT OF ASSETS AND LIABILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

A
Cash funds
Cash at bank with immediate access
Petty cash
B
Other monetary assets
Other debtors
C
Liabilities
General
funds
£
-
21,643
-
21,643
-
Restricted
funds
£
3,430
-
3,430
-
-
2023
£
22,608
-
2022
£
332
50
22,608
#
382
105
105
-
ilities
Fee for Accounts and Independent Examination
Other accrued expenses
-
-
-
-
-
1,070
-
1,070
1,032
-
1,032

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 31/10/23
-------------------------------------------- -------------
Dan Jeavons Treasurer

The notes on pages 9-10 form part of these accounts.

Page 11

THE PIMLICO FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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 havenot (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 areunrestricted funds which areavailablefor useat thediscretion ofthetrustees in furtheranceof thegeneral objectives of thecharity. Designated funds comprise unrestricted funds that have been set asideby thetrustees 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
Subscriptions
Accounts & examination
Insurance
Miscellaneous costs
2
(a)
Property costs comprise:
Rent
-
Cleaning and Maintenance
-
-
General
funds
£
53,140
-
1,030
247
14,106
859
6,004
1,799
534
449
1,298
1,266
8,609
89,340
14,070
36
14,106
TBC
Restricted
Funds
£
-
9,086
1,719
-
-
10,805
-
-
-
Total
Total
2023
2022
£
£
53,140
44,624
9,086
16,328
2,749
4,418
247
387
14,106
15,458
859
366
6,004
2,048
1,799
2,440
534
-
449
1,298
3,082
1,266
995
8,609
6,245
1,00,146
96,392
-
14,070
15,345
36
113
14,106
15,458

3 Transactions with related parties

There were no disclosable transactiosn with related parties during the year

Page 12

THE PIMLICO FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Movement on designated, restricted and endowment funds

During 2023
Restricted funds income Expenditure Opening balance Closing balance
London Sport Skating Project (restricted) 5,985 2,555 - 3,430
Pimlico Millions (restricted) 5,000 5,000 - -
Westminster young foundation fund (restricted) 3,250 3,250 - -
14,235 10,805 - 3,430
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 - -

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.

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 £590+VAT

and regular bookkeeping fee totalling £1,560+VAT

7 Staffing

The average number of staff employed during 2023 was 1 (2022, 1)

No employees received employee benefits (excluding employer pension costs) of more than £60,000

Page 13

Profit and Loss

The Pimlico Foundation

For the year ended 31 December 2023

Account 2023 2022
Turnover
Donations 42,779.01 8,725.00
Grant income 76,583.04 66,699.94
Income received from charitable activities 0.00 311.02
Other Revenue 3,000.00 6,850.74
Total Turnover 1,22,362.05 82,586.70
Cost of Sales
Direct Wages 2,676.80 0.00
Total Cost of Sales 2,676.80 0.00
Gross Profit 1,19,685.25 82,586.70
Administrative Costs
Advertising & Marketing 25.93 200.83
After School Club 1,993.02 180.59
Audit & Accountancy fees 1,336.40 3,128.00
Bank Fees 0.00 0.53
Christmas Fair 0.00 81.40
Cleaning 35.90 90.67
Entertainment-0% 8.50 0.00
Entertainment-100% business 0.00 267.20
Equipment (not capitalised) 246.55 387.33
Event costs 12.30 52.00
Food Expenses 568.63 3,703.98
Food programme 497.18 0.00
Food purchases 1,683.09 714.34
General Expenses 8,582.66 5,431.39
Holiday Club 4,296.02 7,711.23
Hot Chocolate 334.76 1,688.61
Insurance 1,160.88 995.26
IT Software and Consumables 533.90 598.50
Mentoring 0.00 488.14
Messy Church 371.21 2,358.96
Motor Vehicle Expenses 590.60 800.15
Pensions Costs 2,423.97 2,159.37
Postage, Freight & Courier 44.74 49.64
Printing & Stationery 813.88 316.46
Rent 14,070.00 15,345.00
Repairs & Maintenance 0.00 22.65
Salaries 47,788.38 42,464.41
Skates 2,070.37 0.00
Staff Training 251.00 0.00
Subscriptions 449.07 612.57
Telephone &Internet 6,004.19 1,449.34
Travel - National 1,208.60 1,629.60
Total Administrative Costs 97,401.73 92,928.15
Operating Profit **22,283.52 ** (10,341.45)
Profit on Ordinary Activities Before Taxation **22,283.52 ** (10,341.45)
Profit after Taxation **22,283.52 ** (10,341.45)

Balance Sheet

The Pimlico Foundation

As at 31 December 2023

Account 31 Dec 2023 31 Dec 2022
Current Assets
Cash at bank and in hand
The Pimlico Foundation 22,608.03 341.51
Total Cash at bank and in hand 22,608.03 341.51
Petty Cash 0.00 50.00
Prepayments 105.00 0.00
Total Current Assets 22,713.03 391.51
Creditors: amounts falling due within one year
Accruals 1,070.00 1,032.00
Total Creditors: amounts falling due within o 1,070.00 1,032.00
Net Current Assets(Liabilities) 21,643.03 (640.49)
Total Assets less Current Liabilities 21,643.03 (640.49)
Net Assets 21,643.03 (640.49)
Capital and Reserves
Current Year Earnings 22,283.52 (10,341.45)
Retained Earnings (640.49) 9,700.96
Total Capital and Reserves 21,643.03 (640.49)

0.00

0.00

Profit and Loss

The Pimlico Foundation

For the year ended 31 December 2023

Account Hot Chocolate (unrestricted)
Turnover
Donations 0.00
Grant income 0.00
Other Revenue 0.00
Total Turnover 0.00
Cost of Sales
Direct Wages 0.00
Total Cost of Sales 0.00
Gross Profit 0.00
Administrative Costs
Advertising & Marketing 0.00
After School Club 0.00
Audit & Accountancy fees 0.00
Cleaning 0.00
Entertainment-0% 0.00
Equipment (not capitalised) 0.00
Event costs 0.00
Food Expenses 0.00
Food programme 0.00
Food purchases 0.00
General Expenses 0.00
Holiday Club 0.00
Hot Chocolate 153.34
Insurance 0.00
IT Software and Consumables 0.00
Messy Church 0.00
Motor Vehicle Expenses 30.02
Pensions Costs 0.00
Postage, Freight & Courier 0.00
Printing & Stationery 0.00
Rent 0.00
Salaries 0.00
Skates 0.00
Staff Training 0.00
Subscriptions 0.00
Telephone & Internet 0.00
Travel-National 0.00
Total Administrative Costs 183.36
Operating Profit (183.36)
Profit on Ordinary Activities Before Taxation (183.36)
Profit after Taxation (183.36)

London Sport Skating Project (restricted) Messy Church (unrestricted)

0.00 0.00
5,985.00 0.00
0.00 0.00
5,985.00 0.00
0.00 0.00
0.00 0.00
5,985.00 0.00
0.00 0.00
735.38 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
4.17 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 197.55
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
1,815.67 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
2,555.22 197.55
3,429.78 (197.55)
3,429.78 (197.55)
3,429.78 (197.55)

Pimlico Millions - Core (unrestricted)

Pimlico Millions (restricted)

0.00 0.00
7,200.00 5,000.00
0.00 0.00
7,200.00 5,000.00
0.00 0.00
0.00 0.00
7,200.00 5,000.00
0.00 0.00
0.00 972.64
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 9.80
0.00 0.00
0.00 0.00
0.00 2,602.88
69.81 1,233.26
0.00 181.42
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
69.81 5,000.00
7,130.19 0.00
7,130.19 0.00
7,130.19 0.00

Westminster young foundation fund (restricted) Unassigned

0.00 42,779.01
3,250.00 55,148.04
0.00 3,000.00
3,250.00 1,00,927.05
0.00 2,676.80
0.00 2,676.80
3,250.00 98,250.25
0.00 25.93
285.00 0.00
0.00 1,336.40
0.00 35.90
0.00 8.50
0.00 246.55
0.00 12.30
0.00 558.83
0.00 497.18
0.00 1,683.09
0.00 5,979.78
2,965.00 23.78
0.00 0.00
0.00 1,160.88
0.00 533.90
0.00 173.66
0.00 560.58
0.00 2,423.97
0.00 44.74
0.00 813.88
0.00 14,070.00
0.00 47,788.38
0.00 254.70
0.00 251.00
0.00 449.07
0.00 6,004.19
0.00 1,208.60
3,250.00 86,145.79
0.00 12,104.46
0.00 12,104.46
0.00 12,104.46
Restricted funds Unrestricted Total
- 42,779 42,779
14,235 62,348 76,583
- 3,000 3,000
14,235 1,08,127 1,22,362
- 2,677 2,677
- 2,677 2,677
- - -
14,235 1,05,450 1,19,685
- 26 26
1,993 - 1,993
- 1,336 1,336
- 36 36
- 9 9
- 247 247
- 12 12
10 559 569
- 497 497
- 1,683 1,683
2,603 5,980 8,583
4,202 94 4,296
181 153 335
- 1,161 1,161
- 534 534
- 371 371
- 591 591
- 2,424 2,424
- 45 45
- 814 814
- 14,070 14,070
- 47,788 47,788
1,816 255 2,070
- 251 251
- 449 449
- 6,004 6,004
- 1,209 1,209
10,805 86,597 97,402
- - -
3,430 18,854 22,284
3,430 18,854 22,284
3,430 18,854 22,284