The Persimmon Charitable Foundation Trustees, report and audited accounts 1163608 31 December 2020
The Pet5imtrK)n Charitsbl¢ Foundation Trustees. rewrt and audit¢d gccounts 31 Dtcember 2020 Contents Trnsiees. report Staiemenl of Tru51ees' responsibilities Independent audito$ report Siatcment of financial a¢iivities Balance shccl 12 Statemeni of cash flows Notes to th¢ accounts 14 R¢gisi¢T¢d 1163(A)8 131 tkcernbeT 2020
The Persimmon Charitable Founthtion Trfee5. report IT audited accounts 31 De¢emkn 2020 Trustees, report Reference and AdministrAtlve Detalls The Iws¢¢¢s of ih¢ Per5imnK)n Charitable Foundation Iihe "Persimmon FoU[allon"1. regisiered number 1163(Al8. present their report and accounts for the year ended 31 tktembei 2020. The accounts have been prepared irb accordan¢¢ with ihe x¢ouniin8 poli¢ie$ s¢t Oul in ibc noie5 to ihe accounts aTbd comply with thc Persiinnion Foundaiion's ¢onsiitution. the Charities Aci 2011 w)d Ihe PTovisions of ihe Ststement of Reeommendcd Pra¢ti¢e (SoR1"A¢¢0urt17thg Repvrtin¥ by Charilie5" IFRS 1021. Trustees The trustees who held offjce the period ond 10 lh¢ of this report wrre as follow5.' MH Killorart (Chairl R Devlin DK Finch D jenkin0 MJ Sears RP Sienhouse JR Place (appointed 28 Sept¢rnb¢r 2020) (resigned 20 S¢picmb¢r 2020) Iresi8ned 29 April 20201 Iresigned 30 Sepiemb¢r 2021) (appointed 29 April 2020) Audltor Emsl & Youn8 LLP l More London Pla¢e London SEI 2AF Prlnelp•l offlte The charity's prin¢ip41 offi¢¢ is.. Persimmon Hous¢ Fuiford York Y0194FE Objecilve5 Adlvltles for the P11¢ Beneflt As a s711Y rc5FK)n5iblc busincss. Pcrsimnxin PIE cslablbShcd thc Pcrsirnnv)n CharibI¢ Foundation to help suppon Ihe ¢ommvnitie5 in whirh the Group operates. The Persimmon Fout)d8tion is ¥ rhariiable incorwr#ied org4niMtion. wknsc objectives las sel out in its consiilutionl, arc lo funher such rharilabl¢ purposes as the charity trusiccs sce fil from lime lo Iirne. in pariicular Ibui noi limiied lo} rnaking gran15 lo charities OT or8anisation5 furth¢nn8 ch3ri13ble purposes ihal promoie urban rcgeneraiion in ar¢ds of cconomic and social depravation. Thc Tru51ec5' aim is to improvc local communities in the UK for th¢ publi¢ bencfit by improving hcalih. relieying poverty, advancing amaicur sport. improwng th¢ lo¢al environmeni and advancement of the arts and culture. Its slTategy is to makc donaiions io charities. parti¢ularly small local chariiies. and groups who provide support io Ihcir Ial community. Thc Pcrsimmon Foundaiion is currenily runnin8 two campaigns. namely Communily Champiorns and Buildin8 Fuiures. to achieve its aim. Regist¢rcd numb¢r I1638 131 De¢emt¢r 2020
The PtrsimJJK)n Chatitable Foundation Trusiee5' rewtl and JIlled accounls 31 D¢¢tmb¢r 2020 Trustees. report (continiied) The Cotnmunity ChaTnpions campaign was e51ablished ID 2015. this initiaiive seeks io sUp)rt grassroois group$ and chaTlties working to improve the quality of lite or environmeni for Iixal people pantcularly in ihe ¢ommunilie% w'here the Persimmon Group operates. Under this tampaign, or8anJsatlOlls ¢on apply for funding of up lo £ 1,000 lo ntCh funding thai they have raised ihems¢l¥es in supporf of fvnhering a wde variety of local community and chariiable purrK>ses. More Ihan 60 local chariiies and community groups receive donations under Ihis campatgn nationally every monih. Each of the PersimrTh)n Grow>'$ operaiing businesses {cuentlY there are 31 l and the Group's head Olee. nominate ih¢ QTganisalions io receive the donaiion. from Ihose Ihai apply each nx)nih. We believe thai by delegaiing lh¢ granling decision power lo our local operatin8 businesses, who have good knO,ledge of the tommuniii¢s in whi¢h thcy operaie. the Foundation can effectively offer support 10 small thariiies and oiher groups tsrg¢iing local i5sucs. A broad range of communiiy groups have benefii¢d from ih¢ P¢rsimnK)n Foundatior). including local sports groups. menial health pr()j¢cis, scouis and bn)wni¢s, local hospire5. f(K>dbank5. Schools ar aTI pmJec15. The tlexibiliry and frequency of Community Champions donal10¥ ¢nabl¢ lh¢ Persimmon Foundaii¢)n io respond limcly in the facc of unexpecied naiional crise& like ihe Covid.19 patmlimir and i'arivus new rhall¢ng¢> faced by ILical CLinimunilies fr(Im lime 10 lim¢. Fur ¢xampl¢ beiwttn April and August 2020. the TTuslees refocused Coinmuniiy Chdiiipioll5 10 specifically support Ihc over-70s- 8 uP that thc trustces beli¢val w¢r¢ in n¢¢d of SUPPDrt during the onsei of Ih¢ Ctsvid-19 p8ndemic. The Per5inunon Foundation fir51 Iallhed iis Building Funjres ¢8mp4ign it12019. in p8nnership wilh Team GB. the Greai Britain and Nonhern Ireland Olympic Team njn by Ihe Briiish Olympi¢ Asso¢iaiion. 10 suppori conimunily groups working wilh under l 85 across three categories . ¢du¢3110th & an$. $poN. and health. A tolal of 128 grants of £I.000 w¢re award¢d io lo¢al commutsities and ¢h8niie$ xro$s England. Wal¢$ and scollar in 2020. Finalists were seleci¢d by a naiioDal publi¢ voi¢ 10 r¢¢¢ive donaiTron% of £ IiN).(rt)0. £50.0(Kl and £20.000 in each of Ilic three c&legories, whil¢ a further 87 5hortlisicd PTOj¢CiS Yccciv¢d a £5.(H)O donaiiorh each. The umpaign enlisicd the help of Olympic aihl¢ies 10 launch Ihe sch¢m¢ and 10 promoie th¢ Olympi¢ values of re4¢1. excellencc and friendship. The funding has supponed a vorieiy of Bood causes it) improvin8 lives of thousthJ5 of under 18s across the UK. Th¢ Iru.4lces considcr thal Ihcy have complieil with Iheir duly 10 have due re¥ard lo ihe guidance on publi¢ benefii publi5hcd by thc C-haTily C.ommissiotL in excrcisin8 their powers or duii¢$. Achlevtmtnt• nd PerforEllAnce The Truslecs have mcasured Ihe success of their work dunng lh¢ y¢ar Ihrough ih¢ out¢om¢¥ of the Communily Champions and Buildin8 FuNre5 campai8ns. 108eiherwiih other donations mid¢. Thc donat10115 madc. oficn lo srnyll, local charities and local community groups ihroughoui the UK provide relief¥nd $uppoN 10 # ronge of people,. helpcd lo improve local ameniiies and encoura8ed and facilit8i¢d am8t¢ur spon, h1th fa¢ilities and art5 ¢ulture t[oUghoU1 th¢ UK. The P¢rsimmon Foundation made c.9(KJ donilions in 2020. IntIng to £1.8rt to local charities and cornmunity group.% ¢hrough on¢-off dot)81ion$ and Ihrough our Community Champions IThd Building FutUTCS campai8ns. Communiij. Chomplons The Community Ch•mpion$ umpaigth resulid in donaiion5 of C.£750.0 in 2020 to c.770 local or8anisalions. In 2020. 62 ()T¥4nisJlion$ were nominaied (h Tmnih io Tcccive matching funding for a Tanjjc of communiiy 8roups. Th¢ name ofihpse vrg#nisaiion$ chosen for a donation arc publishcd ci'cry monih on Ihc Pcrstmnx>n Home8 websilc at p¢rsimmonhomes.¢omlcommurriiy-chgmpionslwinn¢rs. InfOrnl10n on organisalions ihai benefined are also published on the Persimnb)n Homes web5iie ai http5.'lIwww.pcr5imrTK>nhon.corn1neWs. In re5pons¢ lo the outbreak of Covid-19 pandemic. from April to August 2020, rhe Trusiee5 refotused Communiry Champions funding on groups and charities 5upponing the over-70s a pTrieniially vulnerable group ID OUT $o¢iety who the In]sttts believed were in tKed of 5uppon during the onsei of the Covid-19 pandemi¢. The fvnding supponed gTOUP5 provxding PTaclic31 hclp with faTe s¢rviccs. enK>lioThal supwrt forolder people and keeping care horne residents engaged during shielding. Th¢ donation5 also fvnded PPE equipment for care home siaff and volunieers io keep vlncrable groups 5afc during the paThdemic. During this Community ChampiorLS donated £320,IM)O to 320 causc5 looking aftcr Ihc hcalth aTMI wcllbcing of cldcrly. R¢8)st¢r¢d numb¢r 1163UI8 131 Ikc¢ntheE 2020
Th¢ P¢r$iM Ch8Titsble Foundii¢)n Tnwtts. T¢[rt 8nd •udiied ¢¢outLts 31 DetttDbcr2020 Trustees, report (continued) CoJDmunity Charnpions continucd to exte1 its sUPPOrt lo variow organisaiiot)s to help them t the new ehallenge5 and oddress issue5 in local communitie5 Created by the paDd¢mi"¢, such as.. School's Pu1¢ of eqwpmem sup[lg so¢iat di$tsn¢ed le4rniD8 aclivities thjring lockdowt),. Or8attisations providTrng mentsl hcalth 5UPPLYI to thc communily: Groups improVu healih and reducitig lonelines5 of older rKople' FbankS fa¢ing increasc in dernaT for their 5UPF. Projecig Supporti youn8 pe4)ple tacklin8 cbalkD8¢$ 8ry1 ¢haDges urmler the pat)demic. Building Futures Building Future8 made doT¥tioN of more £1 mtllion in 2020 to make a differfflKe to bundreds of young people's live5. The campaign be88ri with donations of £l,CW to ¢h of 128 0p$ from April ro May 2020 to improv¢ local farililic5 and the delivery of viial cornmuThiry projects for under 18s Kross Englan¢L Wale5 Scotl8nd. In addiiion, 96 8ood ¢au$u mide li ihrough th¢ final ofour Buildin8 Futures campaign conweiition- where ihe winners of the thr¢¢ top awards in catcgory. cducation & arts. srA)rt. and he41ih were de¢ided by a publi¢ volc which altracted ne8rly 4100,000 voles. The winncrs were announced during a vinu81 eveni th•1 w48 watched by around l.S(K> people. Nonh&mpion Swimrning Club Isporll, Sheffield's The Chtl(tr¢Th"$ Hospithl Charity Ihealihl and Suffolk's Ring8field Hall E¢0 Activily Centre leducation & 8rtsl. won the voles in Iheir teorIeS and each received a don8tion of £1),{)0. Three other groups received donaiions of £SO.(rfX) os numus-up in ch category. Newbury's KD Gymr)a5tlC51sPOrtI. North Music Tn1 {educaiion & ans) 4Thd Ed8b4$I.S Little Hearts Mattcr Ihealih}. 811)n8 Wlth donations of £20.0(• each to three third pla¢¢ winners. who were Afart Lido L4dics & Girls. FC (sport). Bradford- based Refu8ce Action (edation & arts) Derian House Childm's H05PiCt lknlih). Th¢ T¢maininB fiNli6ts each reeeived £5,(M)O donarions. Due to their suc¢es4 both Cam188 will co1¢ throu9b) 2021. Oiher Donailohy One of Ihe objectives of Ihe PeTsirnrnon Foundation is to reli¢v¢ in need be¢au% of pov¢rry. ill health, disRbility or oih¢r didan$t. A donaiion of £200.(XIO w45 rn¢ to SASH. in four ir8nches from Augusi 2019 10 October 2020, 8 York basd ¢hirity whose aim is to PvenI homekEsness in youn¥ people 48ed 16 10 25 in North and Easl Yorkshire. This amount WBS accrued for in ihe 2019 finarla1 SleMents. Th¢ fiMn¢ial sUPPtIrt will cnable SASH deliver life4nging work to youn8 pcoplc by deliverin8 enxr8¢tKy $lw¢ iern) and longer tem accommodation and provided flcxible support to young homele people lo develop trir Skills attd IfonfIdenCe through on¢-tO-one support and 8roup based lening 8¢$6ions. Thc Pcr51rnrnoD Foutldation also don2 £10.0 10 PToll41e C•n¢er UL i 110•1 or8anisation lor pro$ta ¢an¢er in thc UK, wISe airn is to improve the ¢8re and w¢lf&T¢ of those offe¢ied by pr0518te cancer. increase investmeni in research, and raise public and polili¢81 owareness of •10fi8-rK8]ecied disese. In sUPPOrting the Comrnunity Champions w)d Building FuDxes ¢4n4Migts as well as Djakllhg dongtions to various other charilie5 detailed above. the trusttts believe Ihat lh¢ 8ims I1 obje¢tive$of the Persimmon Foundation ar¢ being achieved and it will continue lo do so in the fifftr¢. Don8tions of over £5m hvc been rnade 10 Bood caus¢s $in¢¢ the Per5irnnyTrn FowKl8uon w•s estsblisll in 2015. FIAntll Rewlew The Persimmon FoundatK)n'$ Mi mltn x)wces of iTbcomc during the year utmler Tewew dtsntttions from indep¢ndent finan¢ial Advisers IIFAS) #nd from Ihe PersimnxTrn Group. Th¢ IFAS who made donations wtt¢ those compani¢s or firn who gave advic¢ mortgwge to comerS lyuyin8 a hony from the Persimmon Home$ Limited and Charles Chw¢h D¢velopn*nt Limiied. Regislered 1163fA>8 131 Ik¢¢nts2020
Th¢ psiMmon Chariiabl¢ Foundation Trust¢¢s' r¢port and audi¢¢d a¢wunts 31 Dccetnber 2020 Trustees, report (continued) During the year under Tcview. the Persimrnon Foundation reccived donations of £1.788.950 (20J9.. £J.049.093). The increase in donation5 received is ]nainly contributed by the increase in Per5imTMn Group donations from £61.I06 in 2019 to £998,668 in 2020. The imp8cl of Covid-19 on ihe Foundation's tncome was ihe caneellaiion of the proposed Gala Dinner in 2020 and thus the loss of the tld gain from sales of iickns (2019. 120.952). In addiiion. donations from IFAS redueed from £987,262 in 2019 to £790.070 during lh¢ year. The Foundation received a non-inierest bearing loan of £325.1)00 from Persimmon plc in ocber 2020. for ihe pury of fvNling the Foundation's Community ChampioTh% ar)d Building Futures campaigns. There is no security 8h¢d to the loan nor obligalion for the Foundation to PaY the loan until it the furKls to do 50. Eypendimre The Foundation made donalion5 of £1.843.460 {2019.. £2.483, 792) and had other expenditure of £735 (201Q.. £770) in 2020. Ai ihe of rhe year the Persimmon FoUThJ10n held Unlen¢j funds of £85.118 (2019." £J37.016). The Persini¥non ChaTltable Foundation I'the FourwJation> i$ 5UPF¥Jrtcd by Pcrsimrnon plc, which provide5 financial and admini8iraiive support. Golng con¢ern The Persimrnon Foundalion 15 primarily reliani on donations from IFAS P¢rsimmon Group io fund lis donaiio with minimal reliare on fundrdisin8 aaivilies. Cancellation of fundraising athivilics i.¢. lh¢ Gal8 Dinn¢r for Building Futures Awards. due lo the pandemic had lirtle impaci on the incorr¢ of F¢)und81ion. IFA donaiions Teduced in 2020, in lighi of the owi ofihe pond¢mic. Th¢ DI10$ of Persimmon pl¢ have &s%ess¢d Ihe fuiure fvnding rquiremenisof ihe Persimmon Group and Compared it lo ihe level of long-lem d¢b¢, commiiied bank fxiliiies and ¢45h resou¢$ over Ihe medium iem). The as&tssmcrtt included the impact orth¢ ongoin8 social disiancing r¢*riciion& inirthlu¢ed by ihe UK and devolved Gowernmenis 10 ¢oniain th¢ read ofcovid-19 and Ihe risk of a new pandemic. Tr Direciors of Persimmon plc considered Ihe impact of these riyks on Ihe going concern of ihe Persimmon Group by kxrforniing a rnnge of gensilivily analyses includin8 severe but plausible Kenarios maierialising iogdher with the likely effttti¥tness of mitig]8 a10Th$ that would b¢ exe¢uied by the Direciors of Persimmon plc. Having ¢onsid¢r¢d the Group's fore¢ast& sensiiiyity analysis and the GfOUP'S significani financial headroom. the Dire¢tors of Persimmon plc have a reasonable eXptatiOn lh ihe Group has adequate resources to ¢ontirtuc in operaiional ¢xisi¢nc¢ for the foreseeable future. The Group'5 IreLsury wlicy and mana8¢ment 1$ controlled by Persimmon pl¢. As su¢ty th¢ Trustees have received an undenaking frorn PeTsirnmoTh plc thai ibe nece&wy funds will be made alIable io enable the Foundation to operaie for lh¢ for¢5¢¢8bl¢ fuiure. Having undertaken this full Temew 8rtd obtained rewnable &SSUTance% the Trus1ee5 Iwve a rewnable eXallOn that the FourKSation will receive adequate resources io fund lis operdlions for the foreseeable futur¢. For Ihis reason, Ih¢y continue lo 0p1 the going concern bafjis in preparing the accounts. Prlnelp#l Rl$k¥ Th¢ P¢rsimmon Foundaiion's Prin¢iP01 risks are T¢puwional aThl fraud. Th¢ Trustees have put in place sys¢ems and pro¢edures to monitor how mOY is raised and how donaiions ar¢ M¢. Th¢ Persimmon Foundation is also bupported by PeiMmon Ple, which has made resources available 10 the Trustees. in¢luding lis head office fvn¢tlOn5 in ordcr thai ihe Trusiees have releni fioan¢ial con¢rols, nM)niioring and reponing, to reduce the risk tsf fiaud. The I'N5tees are saiisfled ¢hai ¢he major risks ideniified have been and sleMS or ptocedures have been established to manage th¢x risks. Regi5teT 1163td)8 131 DeL%mber 2020
The Persimmon Chariiable Foundatio Tn]sree5' Teport DtLd audited accounts 31 D¢c¢mb¢r 2020 Trustees. report (conlinued) Pl&n$ for Futur¢ P¢rlod$ The Tnjsiees will toniinue with the Commutliry Champtons and Buildittg Fvtwes ¢ampaigtts in 2021 aT)d Mryll also ¢onsider poier)Iial new ¢3mpaigns whi¢h suppon the obJe¢iive of the PenimTnon Foundation to improve local communities in the UK for ihe public benefii by itnpTowng healih. relieving poverty, advancing amateur sport. improving the local environmenl and advanccmeni of the arts atMI culturc. The TrustCES considercd thc changc of focus of Comniunity Champions in 2020 itl Tesponse io Ihe outbreak of the Covid-19 pandemic was a resp)nsible and proactive approach taken by the Foundation and would coniiThue io take appropriate measures as required in ih¢ fu14Jr¢. Struttvre, Gowern#nce #nd MngemeTht The Persimmon Foundation was incorporaied 17 S¢p*mber 2015 as a chariiable inci)rp(biaied OT¥anisalitkn wemed by Jls ionsliluiion. Th¢ obje¢is ufthe Petsimmon FuwKlalJon are cvniain¢d ITr ils coTrsliluli()n. TTUStee5 may be app()inl¢d by a Tcsolulion i)fihe cxisling Iru>te¢s or may be nominaled by P¢Tsimmvn plc. Persiminon PIC is ilie parciit company of a large group of companies whose principal aclivity is ihai of housebuilding in Ihc Uniied Kingdom. The minimum nurnr of IT5¢CeS is thre¢ arHI there is rho maximwn. Thc Trustees Set the 51ratcgy for ihe Persimmon Foundaiion. They also consider and agr¢¢ all new compaigns. The Trustees deierniine donalions are made. They have dele8aied Ihe sele£iion of the local charities and communiiy groups 10 Teceivc donaiions made monthly Ulthr the Commyniiy Champions and Building Fuiures ¢ampAiBn$ ¢0 scnior cmployc¢s of th¢ P¢Ysimmon Ciroup. To funher improve ihe governan¢e of ihe FoundaiioN in July 2021 ihe Tn1¢¢$ d¢¢id¢d 10 adopt th¢ Charily GiJvL'manLe Code for Smaller Charities {Ihe 'tod¢"l. The Foundaiion's applitOlLon of the s¢ven prir)Liple¥ vf ihe C'i)di 1% ginerally goud. al¢hough x)me small Changes will be made 1¢? fvniinually improvc 8ov¢manLc. The chan8CS inlludc 4 mor¢ fonNI review of its donations and ihcir irnpact on spciffly, publication of a complainls policy.. the introduction of a more dei&iled guide for Ihe senior ernployecs in the regional offices of thc Pcrsimmon (iroup lo help when making donalion rccoTnmendation5 aTbd thc introduclion of a rTK¥re fornal connicTS polTrcy. In addition. on induction and trainin8 WLII bc 8iveTh lo new trustees. as appropriate. Approved by the Board of TrUte5 and 5i8ned on ils behalf by M H Klllorln Persimmon Hvuse Fulftsrd York Y0194FE 27 October 2021 Regisitred numb¢r 1163608 131 December 2020
The Persimrnon Charitable Foundaiion Trust¢es' r¢rM)n and audlted >¢¢ounts 31 Detbe[2020 Statement of Trustees, Respon5ibilitie5 The trustees are responsible for prepanng ihe True¢S. Rew)rt a1 the financial sthiemenis in gc¢ordance with applitabl¢ law r¢gulations. The law applicable to charilie5 in England 8t Wales requires the tntsttts lo prcpare financial stalemenis for cach financial year. Under thai law the Msiees hav¢ piepar¢d the financial 51alemcnts in accordance with FRS 102 and the Charities SORP. Under thai law the InJstee% must nol approve the financial siaiemenis unless they are $aiisfied Ihai Ihey 8ive a In]¢ and fair vi¢w of the state of Ihe affairs of rhe chartry and of the incoming r¢sour¢es and application tsf resources ot'ihe chariry tor that period. In prepanng these fllwKial siaiements, th¢ tru$iees are required to.. select suilablc accounting policies and Ihen apply them consist¢nily: observe the methods and principles in the Charilies SORP.. make judgments atMI esiimate¥ thal a¥¢ reasonable ar prudent siaie whether applicable UK Accouniing Standards hav¢ be¢D followed. subjeci to any material departures disclosed and explained in the fjnancial siaiements,. aod prep41re Ihe financLal siai¢mcnts the going Corern basis unless it is in8ppropri8ie io presume thAI ihe chariiable company wll coniinue ith bu5ines5. The inL$l¢¢% arc respon8ibl¢ f*r kcepin8 Bccounlin8 reeords Ihai Ore suffLci¢ni 10 show. and explain Ihe charity's IT#nga¢iions and di%¢lth¥e with Teasonablc accuracy ai any time financial rM)siiion of Ihe ¢h#rily to cnable them to ensure that ihe fijanciil statemenls comply wilh ihe Chariiies Aci 2011. Ihe Charity (AcLounTS and Rcports} RegulAiion5 2008. They #re also rc5ponsible for safeguarding lh¢ ass¢ts of the ChIlY and hence for ukin8 reasonable i¢ps fvr Ihc prev¢nliorb and dclcciion of fraud and other irr¢8ulariiies. The tNstees are responsiblc for the maintenance atKI ini¢gnry of th¢ ¢h4rity #nd financial infonnation included on Ihc charity's website. Legisloiion in th¢ United Kingdom governing ihe prepardtion and dissemination of finon¢i81 slalemenls may ditt¢r from legisloiion in oiher juri5diclion5. Regjstered number 1163608 131 December 2020
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OFTHE PERSIMMON CHARITABLE FOUNDATION Oplnion We hav¢ audited the financial thternents of The Persirnmon Clwiiable F0thation for Ik year eThJed 31 December 2020 which comprise Income Sraiernent. Ihc Ilalancc Sh¢¢i, Stai¢m¢nt of Changes in Iquiry and the relaled notes l 10 7, including a summary of SirIe8n1 ac¢ouniiDg policie$. Thc finCIal reporting fram¢work thai has been applied in theLT preparaiion is applicable law and Unii¢d Kingdom A¢couniing Stsndards Iuniied Kingdom Generally Arccpled Accountin8 Practice). includin8 FRS 102"'The Financial R¢portin8 Standard applicable in the UK dnd Republic of Ireland" In our opinion the fLnan¢ial stat¢m¢nis'. giv¢ a tru¢ and fair view of th¢ state of Ihe chariiable Company's affairs as #131 Dcccmber 2020 and of its incoming resources and application of r¢sourc¢s. in¢luding its in¢om¢ and cxpcndilure. for ihc year (h ended; hav¢ bcen pmpcrly prcparcd in aCcOrdar with Unil¢d Kingdom G¢r>ernlly Accq)led Accountin8 Praciice.. have been prepared in accordanc¢ 1h the requirements of the Corynies Act 2006. B8sl8 for oplnlon W¢ conductcd our audil in Bccordancc with Intem?tiorthl StsThJards on Audilin8 IUKI IISAS IUKI) and 8ppli¢2ble law. Our responsibilities uTMler thos¢ slandards 9T¢ Nh¢1 described in The Audiior's responsibiliii¢s for thc Judii of Ihe financial statements section of our wpon below. 14¢ are indepcndcnl of ihc charitable company in occordance wilh Ihc ethical requiremcnts thai are r¢lew4t)I 10 oiir 3udil of the financial siaiemenls in Ihc UK including Ihe FRC'S Eihical Sta[ard. atyj we have fillfilled our other eihL¢al responsibililies in accorda¢ with ihek requirements. We believe ihat the audil eVide we have obtained is sufficieni hnd appropriale lo provide a basis for our opinion. Con¢lu$lon$ relatlng to going concern In audiiing the financi&l stalcmenis. wc havc concluded thai the tnJ$i¢e$' use of Ihe 8oin8 concern basis of accouniing in the preparation ofthe financial stat¢m¢nls is appropriate. Bised on the Work we have perforn)ed, have noi ideniified any rnalerial uncenainiie5 r¢laiing to event$ or ¢ondilions ihal. individually or colle¢iLv¢ly. may ca$1 $Jgnifi¢anl doubi on Ihc charitable con)pany's ability to continue as a 8oin8 concern for • p¢nod of12 months from when the financial stat¢menis are authorised for issue. Our irsponsibiliiies and the responsibiliii¢$ of ihe In*¢$ with re5p¢cI Io Boing concern are described in the relevant ¢clion5 of Ihis report. However. b¢cause noi all future eveni$ or condilions can be predicied. this statem¢ni is rtot A guaranlee a5 to Ihc trustee's abilLty to coniinu¢ as a going conc.
INDEPELNDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE PERSIMMON CHARITABLE FOUNDATION (CONTINUED) Other inforniation Thc other inforn)ation compnses thc infornwilon included in thc annual report. other than ihc financial slatemcnts and our a1110.$ ihercon. The trusiees are responsible for the other infornution contained in the annual Tepon. Our opinion on ihe financial slatemen15 doe5 not cover Ihe her infonnalion except to the extenr othenYis¢ ¢xpli¢iily 51aied in this rcport. we do not cxpr¢5s any forn of assurdrKe conclusion thereon. Our rcspon5ibility 15 iorcad the oiher Inforntion and. in doing so, consider whethertheoiher infomaiion is materially irLroll5151cnt wih the financÈal sialemcnis orour knowledge obiaincd in the audit oroiherwis¢ apar$ to bc nterIallY mi5Staled. If we identify su¢h mai¢ri81 inconsisien¢ies or 8pparenl material mi551alcments, wc arc required io dclerniinc wheiher ih¢r¢ is a mai¢rial misstai¢m¢t)i in ihc fJt)an¢ial siaiemeni.% themselves. If. based on the Work we have performed. we con¢1¢ thai ih¢r¢ is a mai¢rial MI181¢M¢01 ofihe oiher infomaiion. we are required lo report Ihal fact. We hov¢ noihing l(> report in this regard. Oplnlon on othtr matter PTe$eribed by the Comp*nies A¢t 2(M)6 In OUT opinion, based on Ihe work unden8ken in ihe Course of the iudil.. the infornwiion given in Ihe trustees, repon. which irtludes the dirtttors. report and the siritegic r¢port prepared for ihe pUrySe of company law. for ihe financial year for whi¢h th¢ financial st8iem¢nls 8Te pr¢Ted is ion5isl¢nt wilh Ihe financial 51aiemenis: and The 51raiegir report and thc dirrftOT5 report Lncluded within the thtee5. report have beeTh prepared in a¢cordan¢e Mqth applicable le831 requircmcn15 Matters oft whl¢h we #rt requlred to port by ex¢eptlon In lighi of th¢ knowl¢dg¢ and und¢r5tanding of lh¢ rharitJbl¢ wmpany and its cnvironmenl obtained in The Course of Ih¢ audii, we htsve i(Jcntified no mai¢n¥l mi$$iai¢m¢nis wiihin lh¢ trusT¢CS rq>ort. W¢ havc noihing io report in respeci of ihe following miner5 whcre th¢ Companies Acl 2006 requÉres us to report io you if. in our opinion.. dequaie a¢rounlin% record5 have nol been kepl or teiurns adequaie for our alit have nol been received frum branrhe$ not VLSltcd by u5.. or Ihe finan¢i81 $¢atcmenis are 1101 in agreernent with Ihe %countin8 recor¢ts and returns: or ¢en#in di5closurc5 of trustces. remunerdlion sprcif1 by law are nol made: or we have not received all the ifbfornwtion aThJ explanblions we r¢quirc for our audil.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE
PERSIMMON CHARITABLE FOUNDATION (CONTINUED)
Responsibilities ol trustees
As eXplaid more fully in the trusle¢5' reswnsibllilies staterTThi Set oui on page 6. the trusiees (who are also Ihe
direclors of the charitablc company for ihc purposes of company lawl are responsible for ihe prq)aratiort of the
financial slatemenis and for bcing saiisficd thai give a mJ¢ and fair view. and for such intemal ¢ontrol os th¢ trusices
dctcmiine is necessary to enable the prepardiion of fiMn¢ial stai¢m¢nts ihai are fre¢ from material misstaiem¢nl.
whether due to fraud or error.
In PTcparing Ihe financial siatements. the ITuslees are Tesponsiblc for a55CS5ing Ihc chariiable company's abiliiy io
conlinuc as a going conccrn. di5c105ing. a5 applicable. matters relaicd io goin8 concern and using ihe going ci>n¢ern
basis ofaccounling unless manaK7emeni eiiher inien¢ts 10 liquidaie the eharitsble Company or 10 ¢¢as¢ opeTaliunb. or
has no rvdlislic alicrnative but io do so.
Audltor's respon$lbllSiles for the audit of the flnancil statements
Our objeciives are lo obiain reusonablc assurance aboul whcther thc financial siaiements as a whole arc fr¢¢ from
mmierial mi&stalemcni. whctheT duc io fraud or COr. and to issuc an auditor's report that includcs OUT OPlniOD.
Reosonablc assurance 15 a high le%'el of assurdnce. bui is noi a guarantee Ihai an audii condu¢t¢d in a¢¢oT(Jan¢¢ wirh
ISAS IUKI will always deitti a rnaierial nssI81cMenf wh¢n il ¢xisls. Misstaiem¢ni$ can aris¢ from fraud or error
and are con%ideTed maieTial if, individually or in ihe ag8regaie. they could reasonably be expecied 10 intluen¢¢ the
economic decisions of user5 taken on ihe basis of ihese finan¢ial st•tem¢nis.
E¥pl4n•iion 4$ IO ¢eThI1C amdil coffsidered cfjp4ble of drteclinz irregMlriTres. iTrclMdiftzfrnud
ITregularilies. includin8 fraud. are in$ian¢es of non
The Persimmon Charitable Foundation Trustees’ report and audited accounts 31 December 2020
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE PERSIMMON CHARITABLE FOUNDATION (CONTINUED)
Auditor’s responsibilities for the audit of the financial statements (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Peter McIver (Senior Statutory Auditor) for and on behalf of Ernst & Young LLP, Statutory Auditor London 28[th] October 2021
Registered number 1163608 / 31 December 2020
10
Tht Persim[)Th Charitable Foundatii>n Trlee5. teport and auditcd accounts 31 December 2020 Statement of financial activities for iheperlodeMde4 31 D¢rember 2Q20 Yt4r Ended 31 Dtcembtr 2020 Year Ended 31 Dwunb¢r 2019 Income Donations Ineomc from other trading aclivities .78&951 3.Ib46 1.049.093 47.812 Tot*] lTrcome 1.791.997 1.090.905 Expendlture Donations ExpcnditUTe on raisin8 fU[S Oiher experhdilure 1043.460 31KI 735 2.483,792 26.567 770 Total ¢xp¢ndlture 1044.495 2.511.129 Iyet Incomel(expendlturel for the ptrlod (52.4981 11,414.2241 Recotstlllatlon tsffundi: Total funds broughi f4>rward 137,616 1.551.840 Totgl fundi tArrled forward 85.118 137.616 Rcgisiered number I1638 13] De¢emki2020
The PetSiJllnM)n Chari13ble Foundatio Tnjsrees Tewrt and audited accounts 31 Decemb¢r 2020 Balance sheet 131 December 202i1 Noie 2020 2019 Current assets Cash ai bank and in hat>J Crtditor$'. Amounis falling due wiihin one year Ac¢rnal8 and deferred income 410,118 349,135 1211.S19) Net current Assets 410.118 137,016 Creditors: Amounts falling due after more than one year ATnounts owcd lo oiher credilors {325.11001 Net Assets 85,118 137,616 Chrily fund5: Toial unre%lricied inconK funds 85,118 137.616 These $¢counis were approvcd by Ihe knrd of trusltts on 27 Oeiober 2021 and w¢re si8ncd on its bchalf by.. M H Klllorgn Ti'uslee R¢gist¢Ted I1638 131 DK¢mt2020 12
The Pusimmon Chariiab2e Foundation Truswes, Teport trtwj audiied a¢cfjunts 31 Decettth>er 2020 Statement of cash flows for iheperiodewde431 December 2112 Noie Ytr E#ded Year Ended Jl Docembtr 31 Dtt¢er 2020 2019 CAsh from operating activities Ncl cash pro%idcd by opcraiing aciivities 00.983 11.202.705} In¢rex$e In t4$h and ¢#sh equli'altffjts in ¢h¢ period 611,983 11.202,705} Cash and cash equivalent5 ai the beginning of ihe period Totil ¢$h Irtd e*$h equlvalethts #i the emd of tbe perlod 349.135 .531.1140 410.118 349,135 Regisl¢r number I163(8 131 Decemter 2020 13
The Petsimttion Charitable Foundation Trustees, Tep)rt and audiid accounrs 31 D¢¢¢mb¢r 2020 Notes (lormingpori ofihe accoi¢nls) Principal accounting pollcie5 (fpr¢porofv0 The accounis have been prepared in aceordanc¢ wilh appli¢able ¥¢¢OUn¢ing staDdaTds. the statTrI of Recominended Practice, "Aceounting and Reporting by ChariiLeS" In accordance with the Financial Rcporting Standard FRS 102 (effective l January 2015). Chan"iy Law aTwJ under thc hi51oricai cost accounting rules. This Is the organi8ation's s¢1 of a¢¢ouni$ whi¢h ¢vv¢r thr year c1¢d 31 Dcccrnber 2020. Going ronrer The Perlmn Charitable FoundaiioTh I'ihe Foundaiilml 1$ supwrted by Persimrnon plc. which provides financial and adminisirativ¢ support. The Directors of PersimrTK)nplc ¥¢ assessed the fumr¢ fiJDdin8 Teqiiir¢ments of the Pllsimmot) Group and ¢ompar¢d il io Ihe level of long-lern debi, commined bank facilities and cash r¢soui¢es over Ihe medium ierni. The a45es5menl iN¢luded the impact of thc ongoing social dista[]ng resirieiions. iDirodu¢ed by ihe UK aThJ devolved Government% 10 Contain the Spread of Covid-19 and Ihe risk of a new Pande¢. The Dire¢ioTS of P¢rsimmon pl¢ ¢()nsidered impa¢1 of these T15ks on Ihe going coThcern ofihe Perslmmon Group by perfom)Ing a range of stnsilivity analyses includin8 Severe bul plausible scenarios materialising iogeih¢r wilh ihe likely effeciiveness of miti8aiin8 aclion5 that would be executed by (h¢ Dir¢¢ioTS of P¢rstmmon plc. Ilaving considered the Group's forec&%ls. s¢nsiii%'iry 8naly$i$ and the Group's significant financial headroom. Ihe DiTecior5 of Persimmon plc have a reasonable expeciaiion thai ihe Group has adequlie resour¢es 10 continue in operation81 exi51en¢¢ for the foreseeable fvnlre. Thc Group's treasury policy and management is coniroll¢d by Persimmon plc. As such. Ihe Trusiees have received an und¢rtakin8 from Persimrnon plc thai th¢ necess fynds will be made available 10 tb]e ihe Foundalhon CompaThy lo operate for th¢ foreseeable funw¢. I lavin8 undertaken this full review and obtained r¢asoMble 4$$ur¥Nes, the Tntsitts have a rea50rtable expectalion that ihe Foundation hss adequate resources 10 fund its opertyiions for Ihe foresble fibture. For ihi5 rea50n. they continue io adopt th¢ going ¢orKern basi5 In Preparing ihe accounis. JNcoJMe All incoming resources are included in Ihe Siaiemeni offin4n¢i81 a¢iiviiies when the chlty 1$ legally entiiled 10 the in¢ome. All income r¢co8nised durin8 the peri4 has ¢ome from cash donations. E¥ptNdiiur¢ All eXndi1ure L5 accountcd for on the accru•ls basis. Tqxolio Due 10 Ihe organisation's charitable ststiis no lax is payabl¢ on ihc rharily s irKome for thc period. Valuc Added Tax 15 nol recovcrnble by the or¥anisaiJon. eons¢qu¢nily all ¢xp¢nditurc in thcsc account5 15 51aled inclusive of VAT whcrc SLpplieabl¢. Unrc51riclcd fund5 are general funds which are alIable 01 the truses' discretion in furtherance of Ihc gcncral vbj¢clives of ihe charily. Staff numbers *nd ¢ts Th¢Te w¢re no employee5 efftplod during th¢ period. The TrLLslees, are noi remuneraied for Iheir scrvi¢es 10 the P¢rsimmon Foundation are sd in the Trt¢s Report. Regi5tcred number 1163f118 131 December 2020 14
Th¢ P¢rsitmwn Charitable Foundation Twstces. ¥nd audiicd a¢counis 31 Decembei 2020 Notes (continued) Reeon¢llltloTr of fund$ 2010 2019 Charity fijnds brou¥bt fmwaTd Movemeni in funds in the perMKI Funds aword¢d but y¢1 to be p•id AmDynis ow¢d io oih¢r ¢rediiors lJ7,616 272,502 1.551.840 11.202.705) 1325.0001 Chariry fvnds ¢arrid forward 85.118 137,616 Th¢ foundaiiorb ha$ 8 loan of £325.000 ouNanding owed io Persimmon plc. Please ttfttio ihe injsiees reporf for rmre informarion. Anxtysb of tsh md equlvalents 2020 2019 Cg$h al bAnk and in hand 41Q118 349.13$ Retontllltlon of Thel movernent In funds to net t*sh llow frorn operating atilvlti 2•20 2019 Nel incornellexpendilurel for th¢ period 152A91) 11,414.2241 In¢Te88tlldxreAsel in uediiors 113.481 ¢4$h provided by operniing 1VIll¢S 60.983 (1.202.705) Trustees Nonc of ihe Iruslces {or any pcrsons conrKctcd Miih thcml rcceivcd any remuneralion during the p¢riod, and n¢)n¢ of them WCTC rcimbuTScd any ITavellin8 expenses. Rtl¥ttd pgrty tr•nM¢tloni A loan of£325.OIK) was nMd¢ by PersimwK)n pl¢ to th¢ foundation on the 6 (kiober 2020. The loan is nol interest bearing and there is no obligaiion lo repay until Ihe foundaiion h#$ the ndS 10 do 50. The ¢osl of th¢ Ind¢pendeni Auditor's Tepon was borne by Persimmon pl¢. Rcgjstered nutrkner 1163608131 Decerttber 2020 15
The Pcrsimmon Chariiable Foundaiion Trusiees. repon aTrd Buditcd accounts 31 December 2020 Notes (continued) UltlrNate controlling party The Trustccs of the Persimmon Foundaiion are nominaled by ih¢ directors of Persimmon Plc, but ihey act in Ihe independeni inierest of Ihe P¢TSimnn FouThJaiion to further 115 chan"¢ablr aim5. Persimrnon plc is the par¢ni company of a large group of ¢ompanie5 whose principal aclivity 15 rhat of housebuildin8 in ihe Uniled KL'll8dorn. Copies of th¢ fincial $tai¢m¢nts of this ¢ompany are available from.. The Company Se¢reiary Persimmon pl¢ Per8Jmmon Ilouse Fulford York Y0194FE R¢g)ster¢d numb¢r I l63fI18 131 D¢¢enknr 2020