DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
**Charity number: 1162911**
## **JOHN PRITCHARD TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 15|
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2021**
**Trustees** Wendy Hilary Pritchard David Pritchard John Pritchard
**Charity registered number** 1162911 **Principal office** 188 Fleet Street London EC4A 2AG **Accountants** Wellers Accountants 1 Vincent Square London SW1P 2PN
Page 1
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2021**
The Trustees present their annual report together with the financial statements of the Charity for the 1 May 2020 to 30 April 2021.
## **OBJECTIVES AND AIMS**
## **a. Policies and objectives**
The Trust aims to benefit the prospects of the younger members of society by providing life-skills, training, and employment. This is to be primarily achieved by making donations direct to other charitable organisations that meet those objectives, rather than by The Trust itself carrying out those activities.
The Trustees select charities that they feel best meet those objectives, with (non-binding) preference being given to those that operate in and around Emsworth, Hampshire.
The Trust’s vision, mission and aims are set out below:
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Vision**
Raise aspirations for young people.
## **c. Mission**
Enable young people to actively participate in the regeneration and development of their communities.
## **d. Aims**
## _Broaden Horizons - for young people_
- Enable young people to achieve their full potential
- Build young people's self-confidence, develop self-esteem and facilitate self - management
## _Learn Life Skills_
- Develop teamwork and leadership
- Encourage communication, problem solving skills and positive attitude
## _Instill Values_
- To instill strong values to enable young people to be succesful adults
Page 2
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021**
## **OPERATIONAL AND FINANCIAL REVIEW**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Operational review**
This review covers the financial year 1 May 2020 – 30 April 2021.
## **c. Financial performance**
Funds at the start of this financial year were £148,925.
The charity received income of £nil in this financial year.
Expenditure during this financial year was charitable donations totalling £115,000. This comprises £40,000 to registered charity Chichester Information Shop for Young People; £25,000 to registered charity Off The Record (SE Hampshire), who operate in Havant; £50,000 to registered charity Verity's Gift.
There has been no other expenditure incurred (the Trustees do not charge for their services or their expenses; office services and supplies are donated, free of charge, by Legalese Ltd). The benefit-in-kind of those services donated by Legalese Ltd are estimated at £2,000 for the year ended 30 April 2021.
Cash in bank account as at 30 April 2021 was £33,925.
The Trust has no financial commitments or obligations.
John Pritchard has assigned to The Trust the benefit of the copyright in his ‘H48’ publications (and agreed to indemnify The Trust for any liabilities arising thereunder). All royalty or sales revenues from that title will go direct to The Trust, with Legalese Ltd having agreed to provide all necessary production, print and support services free of charge to The Trust.
In so far as is practicable, all money donations received are transferred out to other charitable organisations without any deduction (so 100 pence in every £1 goes to charitable purposes without any admin or other deduction).
## **d. Public benefit**
The Trust helps young people to actively participate in the regeneration and development of their communities.
## **e. Risk management**
The trustees have evaluated and considered the impact of identifiable risks on the Trust and has policies in place to minimise these.
Page 3
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021**
## **f. Reserves**
The policy of the trustees is to ensure that no obligations are taken on without there being sufficient funds in place to meet those obligations.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **a. Constitution**
John Pritchard Trust was established as a Charitable Incorporated Organisation on 7 May 2015.
The governing document is the Constitution of a Charitable Incorporated Organisation, a copy of which is available on request.
## **b. Methods of appointment or election of Trustees**
The appointment and recruitment of new trustees is by invitation by the Board of Trustees.
## **c. Policies adopted for the induction and training of Trustees**
No new trustee has yet been appointed; induction of a trustee would take place at initial meetings with the new trustee; copies of Charity Commission literature would be provided.
## **d. Management**
The management team of the Trust comprises the trustees. The day to day affairs of the Trust are managed by John Pritchard who reports to the trustees.
Page 4
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **John Pritchard**
21-01-22 Date:
Page 5
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2021**
|**Note**
**Income from:**
Donations
3
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**2,000**
**2,000**
**117,000**
**117,000**
**(115,000)**
**148,925**
**(115,000)**
**33,925**|**Total**
**funds**
**2021**
**£**
**2,000**
**2,000**
**117,000**
**117,000**
**(115,000)**
**148,925**
**(115,000)**
**33,925**|_Total_
_funds_
_2020_
_£_
_102,000_|
|---|---|---|---|
||||_102,000_|
||||_57,875_|
||||_57,875_|
||||_44,125_|
||||_104,800_
_44,125_|
||||_148,925_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
Page 6
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **BALANCE SHEET AS AT 30 APRIL 2021**
|**Note**
**Current assets**
Cash at bank and in hand
**Net current assets**
**Total net assets**
**Charity funds**
Unrestricted funds
10
**Total funds**|**33,925**
**33,925**|**2021**
**£**
**33,925**
**33,925**
**33,925**
**33,925**|_148,925_
_148,925_|_2020_
_£_
_148,925_|
|---|---|---|---|---|
||||||
|||||_148,925_|
|||||_148,925_|
||||||
|||||_148,925_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
## **John Pritchard**
21-01-22 Date:
The notes on pages 8 to 15 form part of these financial statements.
Page 7
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **1. General information**
John Pritchard Trust is a Charitable Incorporated Organisation, domiciled in England and Wales, registration number CE005179, charity number 1162911. The registrered office is 188 Fleet Street, London, EC4A 2AG.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
John Pritchard Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 8
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **2. Accounting policies (continued)**
## **2.4 Investments**
Investments are carried at cost where the Trustees consider the cost of a professional valuation to be disproportionate to the benefit of accounting for the investment at fair value.
## **2.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.6 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.
## **2.7 Fund accounting**
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 and which have not been designated for other purposes.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2021**
**£**
Donations
2,000
_Unrestricted_
_funds_
_2020_
_£_
Donations
_102,000_|**Total**
**funds**
**2021**
**£**
**2,000**|
|---|---|
||_Total_
_funds_
_2020_
_£_
_102,000_|
Page 9
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **4. Analysis of grants**
|**Grants to**
**Institutions**
**2021**
**£**
Grants
115,000
_Grants to_
_Institutions_
_2020_
_£_
Grants
_55,875_
The Charity has made the following material grants to institutions during the year:
**2021**
**£**
**Name of institution**
Off the Record
**25,000**
Chichester information shop for young people
**40,000**
The Andy Robson Trust
**-**
Chichester Festival Theatre
**-**
Verity's Gift
**50,000**
**115,000**
**5.**
**Analysis of expenditure on charitable activities**
**Summary by fund type**
**Unrestricted**
**funds**
**2021**
**£**
Grants and Direct costs
117,000|**Total**
**funds**
**2021**
**£**
**115,000**|
|---|---|
||_Total_
_funds_
_2020_
_£_
_55,875_|
||_2020_
_£_
_10,000_
_35,000_
_10,000_
_875_
_-_|
||_55,875_|
||**Total**
**funds**
**2021**
**£**
**117,000**|
Page 10
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **5. Analysis of expenditure on charitable activities (continued)**
## **Summary by fund type (continued)**
||_Unrestricted_|_Total_|
|---|---|---|
||_funds_|_funds_|
||_2020_|_2020_|
||_£_|_£_|
|Grants and Direct costs|_57,875_|_57,875_|
## **6. Analysis of expenditure by activities**
||**Administrati**||**Total**|
|---|---|---|---|
||**on**|**Donations**|**funds**|
||**2021**|**2021**|**2021**|
||**£**|**£**|**£**|
|Activities|2,000|115,000|**117,000**|
||_Administratio_||_Total_|
|---|---|---|---|
||_n_|_Donations_|_funds_|
||_2020_|_2020_|_2020_|
||_£_|_£_|_£_|
|Activities|_2,000_|_55,875_|_57,875_|
## **7. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year ended 30 April 2021, no Trustee expenses have been incurred _(2020 - £NIL)_ .
## **8. Fixed asset investments**
The charity owns 8.33% of the share capital in Legalese Limited, company registration number 02015688. The shares are carried at £Nil value being the cost to the charity of the shares, which were received by donation in January 2018.
The trustees consider the cost of a professional valuation of the shares to be disproportionate to the benefit of disclosing the fair value of the asset and therefore hold the asset at cost (£Nil).
Page 11
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **9. Financial instruments**
||**2021**|_2020_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**33,925**|_148,925_|
Financial assets measured at fair value through income and expenditure comprise cash at bank.
Page 12
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **10. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**May 2020**
**£**
**Unrestricted funds**
General Funds - all funds
**148,925**
**Statement of funds - prior year**
_Balance at_
_1 May 2019_
_£_
**Unrestricted funds**
General Funds - all funds
_104,800_|**Income**
**£**
**Expenditure**
**£**
**Balance at**
**30 April**
**2021**
**£**
**2,000**
**(117,000)**
**33,925**
_Income_
_£_
_Expenditure_
_£_
_Balance at_
_30 April 2020_
_£_
_102,000_
_(57,875)_
_148,925_|**Balance at**
**30 April**
**2021**
**£**
**33,925**|
|---|---|---|
Page 13
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **11. Summary of funds**
## **Summary of funds - current year**
|**Balance at 1**
**May 2020**
**£**
General funds
**148,925**
**Summary of funds - prior year**
_Balance at_
_1 May 2019_
_£_
General funds
_104,800_
**12.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
Current assets
**Total**
**Analysis of net assets between funds - prior year**
Current assets
**Total**|**Income**
**£**
**Expenditure**
**£**
**Balance at**
**30 April**
**2021**
**£**
**2,000**
**(117,000)**
**33,925**
_Income_
_£_
_Expenditure_
_£_
_Balance at_
_30 April 2020_
_£_
_102,000_
_(57,875)_
_148,925_
**Unrestricted**
**funds**
**2021**
**Total**
**funds**
**2021**
**£**
**£**
33,925
**33,925**
33,925
**33,925**
_Unrestricted_
_funds_
_2020_
_Total_
_funds_
_2020_
_£_
_£_
_148,925_
_148,925_
_148,925_
_148,925_|**Balance at**
**30 April**
**2021**
**£**
**33,925**|
|---|---|---|
|||**Total**
**funds**
**2021**
**£**
**33,925**|
|||**33,925**|
|||_Total_
_funds_
_2020_
_£_
_148,925_|
|||_148,925_|
Page 14
DocuSign Envelope ID: C8BA9F71-CF95-4A04-B91F-82B1AB7DEE45
## **JOHN PRITCHARD TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021**
## **13. Related party transactions**
During the year, donations totalling £2,000 ( _2020: £102,000_ ) were received from Legalease Limited, a company in which Trustee J Pritchard is a director.
## **14. Controlling party**
The charity is controlled by its Trustees John Pritchard, David Pritchard & Wendy Hilary Pritchard.
Page 15