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← Elise Pilkington Charitable Trust

2025-04-05-accounts

Charity registration number CE009444 (England and Wales)

ELISE PILKINGTON CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

ELISE PILKINGTON CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs R Tarry
Dr A Pyatt
Dr Trenaman R
Mr M Kerr
Mrs G Walpole
Miss C Gordon
Charity number (England and Wales) CE009444
Principal address 15 Isham Road
Orlingbury
Kettering
Northants
United Kingdom
NN14 1JD
Independent examiner Russell Whitlock Accountancy Ltd
John Eccles House
Robert Robinson Avenue
Oxford
Oxfordshire
United Kingdom
OX4 4GP
Bankers CAF Bank
25 Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors Russell-Cooke
2 Putney Hill
London
SW15 6AB
Investment advisors CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB

ELISE PILKINGTON CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

ELISE PILKINGTON CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

In accordance with the Charity's constitution, its objects for the public benefit are:

1) To prevent cruelty to equine animals, to relieve suffering and distress among such equine animals, to care for and protect such equine animals including live horses being transported country to country for butchery if such animals are in need of care and protection by reason of sickness,maltreatment, poor circumstances or other similar causes.

2) To promote the relief of the elderly.

3) to further such other exclusively charitable purposes according to the law of England and Wales as the trustees in their absolute discretion from time to time determine.

To fulfil these objectives the Trustees make grants, primarily to UK registered charities, preferably for capital projects or time-limited specific projects.

Applications for funding are usually rejected for charities to whom a grant has been awarded in the previous three years.

The Trustees reviewed their grant making policies during the year and resolved to continue to give focussed preference at this time towards charities benefitting the elderly frail and equine welfare. The Trustees have identified that a review of the elderly grant criteria is required and should be undertaken across 2025/2026. While that is carried out there will be a pause on distributing elderly grants for a maximum period of two years.

The Trustees hold unrestricted funds and Expendable Endowment Funds and so all funds are available to meet the Charity’s objectives.

The Trustees do not usually undertake fundraising activities. The Charity’s investments provide a relatively secure and predictable stream of income from which grants are made, and so investment management fees are the only costs of fundraising incurred.

The Trustees historically aimed to distribute net income arising, together with around 4% expendable endowment (capital) each financial year. It was agreed at the Trustees' meeting held 31 March 2025 that future grants of at least £200,000 in total will be distributed, regardless of the portfolio value.

The Trustees have given due consideration to the Charities Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011 when exercising any relevant powers or carrying out duties.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

ELISE PILKINGTON CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Achievements and performance

Significant activities and achievements against objectives

During the year 9 grants (21 in 2024) were awarded in addition to grants pledged to institutions, as follows:


Equine Welfare
Elderly Frail
 £
26,247
38,338
64,584

The Trustees are pleased to note that the charity distributed net Unrestricted Income Funds received during the year. In addition, a transfer of Expendable Endowment capital funds was made and donated. A full list of grants made during the year is shown within the notes to these accounts.

As noted, a review of the elderly grant criteria will be undertaken across 2025/2026 and during that time there will be a pause on distributing elderly grants for a maximum period of two years.

Financial review

Income received totalled £60,442 (£66,894 – 2024) and £8,070 (£11,850 – 2024) was spent on investment management fees to raise the funds. Total expensed on the Charity’s Activities was £85,289 (£198,570 – 2024) and net losses arose on the disposal and revaluation of investments in the sum of £106,749 (net gains £216,230 – 2024), resulting in a net decrease in funds of £139,666 (increase of £72,704 – 2024).

Funds held as at 5[th] April 2025 totalled £2,676,610 (£2,816,276 – 2024) which represented Expendable Endowment held primarily in investments and capital cash. All income funds were spent during the year, together with an amount of funds transferred from Expendable Endowment that were donated £24,847 (£124,060 – 2024).

Reserves policy

The Trustees maintain free reserves in unrestricted funds sufficient to cover short-term running costs. All funds are considered to be free reserves as they are expendable or unrestricted and so available to further the Charity’s purpose at the Trustees’ discretion. The Trustees regularly review the financial position of the Charity and its reserves, particularly when multi-year funding has been agreed.

Investment policy

The constitution gives Trustees the power to delegate their powers or functions and if they do, the Trustees must determine the terms and conditions on which the delegation is made.

During the year, it was decided that the delegation of investment duties be undertaken by two independant investment managers.

The Trustees have resolved to delegate their investment duties to CCLA Investment Management Limited and Rathbones Investment Management Ltd, who between them, have full discretionary day-to-day control of the investments. An investment policy statement has been prepared, which the Trustees regularly review.

The value of the Trust’s investments as at 5[th] April 2025 totalled £2,657,167 (£2,803,717 – 2024). The Trustees had previously identified poor performance compared to the benchmarks. As noted, during the year the majority of the investment portfolio has been transferred to CCLA Investment Management Limited and placed in a new charity specific ethical investment fund. The Trustees further recognise the long-term investment objectives. The trustees will keep the position under review.

Assets have been acquired and disposed of in accordance with the powers available to the Trustees during the accounting period.

Plans for future periods

The Trustees are satisfied that the Charity's assets and current policies are sufficient to meet their objectives and do not intend to amend these in the foreseeable future.

ELISE PILKINGTON CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Structure, governance and management

Elise Pilkington Charitable Trust is a registered charity. Its governing body are the Trustees of a charitable incorporated organisation constituted on 19[th] December 2016 and registered with the Charity Commission in England and Wales on 20[th] December 2016.

The Elise Pilkington Charitable Trust (1170847) took over the work of a former unincorporated charity known as Mrs Pilkington’s Charitable Trust (278332). All Trustees of the former charity were appointed Trustees of Elise Pilkington Charitable Trust by deed of transfer with an effective date of 28[th] February 2017.

The Members of the charitable incorporated organisation shall be its Trustees. The only persons eligible to be members are its Trustees. Membership cannot be transferred to anyone else.

The trustees who served during the year and up to the date of signature of the financial statements were:

Mrs R Tarry Dr A Pyatt Dr Trenaman R Mr M Kerr Mrs G Walpole Miss C Gordon The Rev R I Merchant (Resigned 1 September 2024) Dr D Shipway (Resigned 7 January 2025)

Recruitment and appointment of trustees

In accordance with the constitution, there must be at least three Trustees. If the number falls below this minimum, the remaining Trustees may act only to call a meeting of the Trustees or appoint a new Trustee. Every Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Trustees or in writing In selecting individuals for appointment as Trustees, the Trustees have regard top the skills, knowledge and experience needed for the effective administration of the charitable incorporated organisation.

New Trustees are provided with a copy of the constitution and the latest Trustees’ Annual report and Accounts. Formal training is not provided but all Trustees ensure they operate within current guidelines as issued by the Charity Commission. Issues arising are discussed during meetings.

Each Trustee has an area of particular interest:

Ruth Tarry – Chair of Trustees with particular interest in equine welfare and education

Claire Gordon - Trustee with particular interest in equine welfare projects

Gemma Walpole - Trustee with particular interest in equine welfare and the relief of suffering

Mark Kerr - Trustee with particular interest in equine welfare and equine/human interaction

Dr Alison Pyatt - Trustee with particular interest in projects relating to equine welfare and international development

Dr Rachael Trenaman – Trustee with particular interest in both equine welfare and projects working with the elderly

The Trustees met twice during the year to review performance, grant applications, regulatory and reporting requirements and any other matters arising. All Trustees are expected to attend the meetings and play an active role in the administration of the charity, including researching possible donees and visiting charities and attending events where applicable. All meetings are minuted and conflicts of interest registered at the start of each meeting.

During the period the trust's administrator retired and the Trustees have decided that they will manage the ongoing administration.

The Trustees adopted a Risk and an Anti-Bribery Policy, following a review of the guidance.

ELISE PILKINGTON CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Risk Management

The Trustees have given consideration to the major risks to which the charity is exposed and are satisfied that systems or procedures have been established in order to manage those risks. After considering the areas of governance, operational, financial, environmental and compliance the Trustees have identified that major negative fluctuations in investment assets could cause material risk to the charity’s funds.

In order to mitigate the trustees have established a policy Statement to be adhered to by the Investment Manager, which is reviewed at least annually in line with investment performance.

The charity had an employee during the period and had taken out insurance as is required by law.

The trustees' report was approved by the Board of Trustees.

Mrs R Tarry Trustee

26 November 2025

ELISE PILKINGTON CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ELISE PILKINGTON CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of Elise Pilkington Charitable Trust (the charity) for the year ended 5 April 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Russell Whitlock Accountancy Ltd

John Eccles House Robert Robinson Avenue Oxford Oxfordshire OX4 4GP United Kingdom 15 December 2025

ELISE PILKINGTON CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Unrestricted
funds
funds
general Expendable
endowment
2025
2025
Notes
£
£
Income and endowments from:
Investments
2
59,550
-
Other income
3
892
-
Total income
60,442
-
Expenditure on:
Raising funds
4
-
8,070
Charitable activities
5
85,289
-
Total expenditure
85,289
8,070
Net gains/(losses) on
investments
11
-
(106,749)
Net income/(expenditure)
(24,847)
(114,819)
Transfers between
funds
24,847
(24,847)
Net movement in
funds
8
-
(139,666)
Reconciliation of funds:
Fund balances at 6 April 2024
-
2,816,276
Fund balances at 5 April 2025
-
2,676,610		 Total
Unrestricted Unrestricted
funds
funds
general Expendable
endowment
2025
2024
2024
£
£
£
59,550
65,033
841
892
1,020
-
60,442
66,053
841
8,070
-
11,850
85,289
198,570
-
93,359
198,570
11,850
(106,749)
-
216,230
(139,666)
(132,517)
205,221
-
124,060
(124,060)
(139,666)
(8,457)
81,161
2,816,276
8,457
2,735,115
2,676,610
-
2,816,276		 Total
2024
£
65,874
1,020
66,894
11,850
198,570
210,420
216,230
72,704
-
72,704
2,743,572
2,816,276

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 18 form part of these financial statements.

ELISE PILKINGTON CHARITABLE TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

Notes
Fixed assets
Investments
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Provision for other liabilities
17
Net assets
The funds of the charity
Unrestricted funds - Expendable
endowment
19		 2025
£
£
2,657,167
20,008
2,045
22,053
(2,610)
19,443
2,676,610
-
2,676,610
2,676,610
2,676,610		 2024
£
£
2,803,717
2,775
119,465
122,240
(89,681)
32,559
2,836,276
(20,000)
2,816,276
2,816,276
2,816,276

The financial statements were approved by the trustees on 26 November 2025

Mrs R Tarry Trustee

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

Charity information

Elise Pilkington Charitable Trust is a Charitable Incorporated Organisation and a Public Benefit Entity as defined by FRS102. It is governed by a constitution dated 19 December 2016 and is registered in England and Wales (charity number: 1170847). The Charity's principal address is 15 Isham Road, Orlingbury, Kettering, Northamptonshire, NN14 1JD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives, unless the funds have been designated for other purposes.

Expendable Endowment funds are invested to produce income. As there are no conditions attached to the funds, the Trustees may convert all or part of it to Unrestricted Funds to be spent.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

All dividend income is recorded net and includes tax deducted only when it is repayable to the Charity.

1.5 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.

A constructive obligation exists where the charity has communicated the commitment to provide particular goods, services or funding to the recipient by the reporting date and there are no conditions attached to the payment falling due after the reporting date.

Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources is no longer required, provisions are reversed and charged to the SoFA.

Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

All support costs and employee benefits are paid from Unrestricted funds.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date as follows:

Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Investments are classified as a fixed asset except when classified as a current asset where the intention of the Trustees is to dispose of the asset and not reinvest the proceeds.

Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost and are charged or credited to the Statement of Financial Activities in the year of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities resulting from revaluing investments to market value at the balance sheet date.

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

1.7 Cash and cash equivalents

Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Taxation

The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates.

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

1.10 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from investments

Unrestricted Unrestricted
funds
funds
general Expendable
endowment
2025
2025
£
£
Income from listed
investments
47,749
-
Interest receivable
11,801
-
59,550
-		 Total
Unrestricted Unrestricted
funds
funds
general Expendable
endowment
2025
2024
2024
£
£
£
47,749
48,878
-
11,801
16,155
841
59,550
65,033
841		 Total
2024
£
48,878
16,996
65,874

3 Other income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Bank interest 892 1,020

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

4 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
Expendable Expendable
endowment endowment
2025 2024
£ £
Investment management 8,070 11,850
5 Expenditure on charitable activities
Grant Grant
making making
2025 2024
£ £
Direct costs
Returned grants - (3,000)
Grant funding of activities (see note 6) 64,584 174,828
Share of support and governance costs (see note 7)
Support 15,804 18,722
Governance 4,901 8,020
85,289 198,570
Analysis by fund
Unrestricted funds - general 85,289 198,570
6 Grants payable
Grant
making
2025
£
Grants to institutions (9 grants):
Elderly - Norfolk and Norwich Hospital 10,000
Elderly - Alzheimers Support (Wiltshire) 4,900
Elderly - Dove Cottage Day Hospice 2,280
Elderly - Guild Care 6,000
Elderly - The Blackmore Vale Charity - The Vale Pantry 10,000
Elderly - St Michael's Hospice Harrogate 5,157
Equine - The Mare and Foal Sanctuary 10,000
Equine - Raystede Centre for Animal Welfare 4,247
Equine - SPANA 12,000
64,584

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

6 Grants payable

(Continued)

All grants were made to institutions.

Grants payable to causes focussed on Elderly beneficiaries amounted to £38,338 (2024 - £77,830) and to Equine beneficiaries £26,247 (2024 - 96,998).

7 Support costs allocated to activities

Staff costs
Office and administration expenses
Governance costs
Analysed between:
Grant making
Governance costs comprise:
Audit fees
Accountancy
Trustees expenses
Consultancy
Insurance
Regulatory
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements		 2025
£
15,239
838
4,628
20,705
20,705
2025
£
480
2,779
1,238
-
96
35
4,628
2025
£
480		 2024
£
18,319
403
8,020
26,742
26,742
2024
£
840
6,090
459
500
96
35
8,020
2024
£
840

9 Trustees

Apart from £1,238 (£459 - 2024) reimbursed to six (five in 2024) trustees for expenses in relation to the charitable activities, none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

10 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Other pension costs		 2025
Number
1
2025
£
14,929
310
15,239		 2024
Number
1
2024
£
17,969
350
18,319

A pension was made available to staff during the year.

The average number of part time equivalent employees during the year was 1 with all employees time spent being to provide support to the charity's grant making activities.

Included in office and administration expenses is £273 of expenses reimbursed to employees.

There were no employees whose annual remuneration was more than £60,000.

11 Gains and losses on investments

Unrestricted Unrestricted
funds funds
Expendable Expendable
endowment endowment
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments (221,788) 258,002
Sale of investments 115,039 (41,772)
(106,749) 216,230

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

13
Fixed asset investments
Cost or valuation
At 6 April 2024
Additions
Valuation changes
Realised gain/(loss)
Disposals
At 5 April 2025
Carrying amount
At 05 April 2025
At 05 April 2024
14
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
15
Debtors
Amounts falling due within one year:
Other debtors
16
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 Listed
investments
£
2,803,717
3,109,832
(221,788)
115,039
(3,149,633)
2,657,167
2,657,167
2,803,717
2025
2024
£
£
2,657,167
2,803,717
2025
2024
£
£
20,008
2,775
2025
2024
£
£
660
78,877
-
10,360
1,950
444
2,610
89,681

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

17
Provisions for liabilities
Contingent Liability Grant payable to Brooke
At 6 April 2024
Utilisation of provision
At 5 April 2025
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
-
2025
£
310		 2024
£
20,000
20,000
(20,000)
-
2024
£
350

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Unrestricted funds - Expendable endowment

These are unrestricted funds which are material to the charity's activities.

Previous year: At 6 April
2024
Incoming
resources
Resources
expended
£
£
£
2,816,276
-
(8,070)
At 6 April
2023
Incoming
resources
Resources
expended
£
£
£
2,735,115
841
(11,850)		 Transfers
Gains and
losses
£
£
(24,847)
(106,749)
Transfers
Gains and
losses
£
£
(124,060)
216,230		 At 5 April
2025
£
2,676,610
At 5 April
2024
£
2,816,276

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 6 April
2024
Incoming
resources
Resources
expended
£
£
£
-
60,442
(85,289)
At 6 April
2023
Incoming
resources
Resources
expended
£
£
£
8,457
66,053
(198,570)		 Transfers
£
24,847
Transfers
£
124,060		 At 5 April
2025
£
-
At 5 April
2024
£
-

21 Analysis of net assets between funds

Unrestricted
funds
Expendable
endowment
2025
£
At 5 April 2025:
Investments 2,657,167
Current assets/(liabilities) 19,443
2,676,610
Unrestricted
funds
Expendable
endowment
2024
£
At 5 April 2024:
Investments 2,803,717
Current assets/(liabilities) 32,559
Provisions (20,000)
2,816,276

ELISE PILKINGTON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

22 Related party transactions

Transactions with related parties

In accordance with the charity's constitution, a Trustee must always declare the nature and extent of any interest, direct or indirect, and absent himself or herself from any discussions in which it is possible that a conflict of interest will arise between his or her duty to act solely in the interest of Elise Pilkington Charitable Trust, apart from to clarify facts.

The Trustees have established a Conflict of Interest policy and Register of Interest, which is regularly reviewed and all interests are declared at Trustee meetings.

No interests in respect of potential beneficiaries were declared at the Trustees' meetings during the year ended 5th April 2025.

There were no disclosable related party transactions during the year (2024 - none).