**Charity number: 1175983**
## **PAVERS CHARITABLE FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JANUARY 2021**
## **PAVERS CHARITABLE FOUNDATION**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Independent examiner's report**|6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 20|
## **PAVERS CHARITABLE FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2021**
|**Trustees**|J M Paver|
|---|---|
||G J Paver|
||R L Paver|
||D J Paver|
|**Charity registered number**
1175983
**Principal office**
Northminster Business Park
Northfield Lane
Upper Poppleton
York
YO26 6QU
**Bankers**
HSBC
33 Park Row
Leeds
LS1 1LD
**Investment Managers**
Robertson Baxter
Beck House
1 Abbey Road
Shepley
Huddersfield
HD8 8EP
**Independent Examiner**
Jane Marshall FCA DChA
BHP LLP, Chartered Accountants
1 St Mary's Court
Blossom Street
York
YO24 1AH||
Page 1
## **PAVERS CHARITABLE FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2021**
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 January 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.
## _**Objectives and activities**_
## **a. Policies and objectives**
The Charity's governing document states that the Foundation may make grants to "advance the charitable purposes the Trustees deem fit". This gives the Trustees considerable latitude to decide on priorities.
The Trustees currently have three different methods of making grants. Firstly, the Foundation supports two charities every year where, initiated by a select committee, a range of charities are appointed for nomination amongst Pavers employees. In addition, applications can be made from all Pavers Limited employees, with the objective being to promote healthcare and well-being, supporting education initiatives and enhancing community projects. Finally, the Trustees themselves have an allocation to distribute to the charities they deem fit.
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. Main activities undertaken to further the Charity's purposes for the public benefit**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Foundation's aims and objectives, in planning future activities and setting grant-making policies.
The Foundation provides funding to organisations which demonstrate charitable purposes. Funding provided enables the causes supported to provide benefits to the public within those organisation's specific aims and objectives. This is consistent with the aims of the Foundation. Where the grant is made to a registered charity the Trustees are confident that the grant has been made to further a charitable purpose to the public benefit. Where grants are made to other organisations the Trustees consider carefully how the funds will be used and make grants with conditions to ensure that they are spent appropriately and for charitable purposes.
## _**Achievements and performance**_
## **a. Key performance indicators**
In the period to 31 January 2021, the Foundation's income was £93,562 (2020: £414,003). Income received from investments totalled £26,836 (2020: £125,610) and donations received from Pavers Limited totalled £13,275 (2020: £257,030). Expenditure for the period was £173,107 (2020: £362,293). This resulted in net expenditure of £79,545 (2020: net income of £51,710). Once net losses on investments of £220,459 (2020: £127,018) are taken into account the overall net movement in funds was a deficit of £300,004 (2020: £75,308). The total funds available at the end of the period were £1,636,327 (2020: £1,936,331). All funds are unrestricted, within these funds, £92,514 (2020: £125,652) have been designated.
Page 2
## **PAVERS CHARITABLE FOUNDATION**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021**
## **Achievements and performance (continued)**
## **b. Review of activities**
In the period to 31 January 2021, the Foundation made grants totalling £159,736 (2020 £342,859). Shout 85258 was voted by Pavers Limited employees as the Foundation's charity of the year and was awarded £50,000. Wishing to show support to its runner-up charities, the Foundation also donated £2,500 to Shelter, The Brain Tumour Charity and Children With Cancer. The Paver family awarded grants to their chosen charities totalling £64,325 (2020: £100,130) and a committee awarded grants totalling £37,911 (2020: £86,454) for various charities which had been nominated by Pavers Limited employees.
## **c. Investment policy and performance**
The Charity's governing document authorises the Trustees to invest the Foundation's funds in the same unrestricted manner as if they were the beneficial owner of the funds. Trustees agreed to invest a significant proportion of the charity's funds in an investment portfolio during previous years. The trustees have a clear and agreed investment policy and objectives based on the advice of its investment managers, Robertson Baxter, who implement that strategy and report at every meeting to the Trustees on performance and market conditions. The Trustees will continue to monitor the investment policy and objectives to ensure that it takes account of the overall objectives of the foundation.
In March 2020, the decision was taken to dispose of the entire investment portfolio and reinvest these funds in a discretionary portfolio. At the 31 January 2021 the valuation of the investments was £1,511,189 (2020: £1,725,193) which represents a loss of £448,011 on the initial investment of £1,959,200.
## _**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. Reserves policy**
It is the policy of the charity to maintain funds at a level commensurate with its obligations. The aim is to provide sufficient funds to cover the administration of the charity and respond applications for funding and grants.
The investments are held to generate income to fund the charitable activities. These are therefore excluded from the calculation of free reserves. The free reserves of the charity as at 31 January 2021, which represents the net current assets less designated funds, are £32,624 (2020: £85,486).
The trustees consider it to be prudent to hold income reserves of this order partly so the level of grants in the forseeable future can be suststained in the event of any unforseen fall in income and partly to enable the Trustees to make one or more substantial grants without prejducing normal grant making.
Page 3
## **PAVERS CHARITABLE FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2021**
## **c. Principal funding**
The Foundation has received donations from Pavers Limited totalling £13,275 (2020: £257,030) and from various members of the Pavers family totalling £nil (2020: £21,500). The Foundation will continue to be supported by Pavers Limited who have agreed to donate 2% of their net profit each year to the Foundation.
## _**Structure, governance and management**_
## **a. Constitution**
The charity was incorporated on 28 November 2017 and commenced its activities on that date. The charity is governed by a CIO Constitution.
The principal object of the charity is to provide grants to support general charitable causes.
## **b. Methods of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the governing document. Trustee induction and training is informal, but appropriate to a Foundation of this size. New Trustees are provided with copies of the governing documents, latest set of accounts and taken through the processes employed by the Foundation.
## **c. Organisational structure and decision-making policies**
The Trustees are responsible for setting the overall strategies, policies and funding criteria of the Foundation including investments. The Chairman also has the casting vote if the committee is locked on a grant award.
## **d. Financial risk management**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Major risks that the Trustees have considered and have taken steps to mitigate include having robust assessment and monitoring processes to ensure grants made are for work which is considered charitable; having a clear investment policy which takes into account appropriate professional advice; and ensuring that the Foundation is compliant with legislation and regulations through taking any necessary professional advice.
## **e. Fundraising**
The charity does actively engage in fundraising practises but only with employees of the operating business.
## **Plans for future periods**
The Trustees continue to maintain the amount of funds it has available annually for grant distribution. The Trustees will continue to review the Foundation's work during the coming year and continue to offer grants based on the decisions made by the family members, the committee and the votes for charities of the year.
Page 4
## **PAVERS CHARITABLE FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 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:
## Jason Paver
Jason Paver (Nov 22, 2021 14:55 GMT)
## **J M Paver**
Trustee Date: 22-Nov-2021
Page 5
## **PAVERS CHARITABLE FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2021**
## **Independent Examiner's Report to the Trustees of Pavers Charitable Foundation ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 January 2021.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Signed: Jane Marshall (Nov 22, 2021 15:29 GMT) Dated: 22-Nov-2021
Jane Marshall FCA DChA
BHP LLP Chartered Accountants Rievaulx House 1 St Mary's Court, York YO24 1AH
Page 6
## **PAVERS CHARITABLE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021**
|**Note**
**Income from:**
Donations and legacies
3
Investments
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
6
**Total expenditure**
**Net (expenditure)/income before net losses on**
**investments**
Net losses on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**66,726**
**26,836**
**93,562**
**7,041**
**166,066**
**173,107**
**(79,545)**
**(220,459)**
**(300,004)**
**1,936,331**
**(300,004)**
**1,636,327**|**Total**
**funds**
**2021**
**£**
**66,726**
**26,836**
**93,562**
**7,041**
**166,066**
**173,107**
**(79,545)**
**(220,459)**
**(300,004)**
**1,936,331**
**(300,004)**
**1,636,327**|Total
funds
2020
£
288,393
125,610
414,003
11,615
350,678
362,293
51,710
(127,018)
(75,308)
2,011,639
(75,308)
1,936,331|
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 20 form part of these financial statements.
Page 7
## **PAVERS CHARITABLE FOUNDATION**
## **BALANCE SHEET AS AT 31 JANUARY 2021**
|**Note**
**Fixed assets**
Investments
11
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one year
12
**Net current assets**
**Total net assets**
**Charity funds**
Unrestricted funds
13
**Total funds**|**210,985**
**210,985**
**(85,847)**|**2021**
**£**
**1,511,189**
**1,511,189**
**125,138**
**1,636,327**
**1,636,327**
**1,636,327**|278,356
278,356
(67,218)|2020
£
1,725,193|
|---|---|---|---|---|
|||||1,725,193
211,138|
||||||
|||||1,936,331|
|||||1,936,331|
||||||
|||||1,936,331|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## Jason Paver
Jason Paver (Nov 22, 2021 14:55 GMT)
## **J M Paver**
(Trustee)
> Date: 22-Nov-2021
The notes on pages 9 to 20 form part of these financial statements.
Page 8
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **1. General information**
Pavers Charitable Foundation is an unincorporated charity registered in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature oft he charity's operations and principle activities can be found on page 2.
## **2. Accounting policies**
## _**2.1 Basis of preparation of financial statements**_
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## _**2.2 Going concern**_
The financial statements are prepared on the Going Concern basis. The trustees have reasonable expectaton based on income forecasts, that the charty can continue to meet its liabilites as they fall due and will continue in operational existence for the forseeable future.
## _**2.3 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.
Page 9
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **2. Accounting policies (continued)**
## _**2.4 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.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with consitutional and statutory requirements.
Costs of raising funds are costs incurred in attracting investment income.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to governance of the charity apportioned to charitable activities.
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.
## _**2.5 Interest receivable**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.
## _**2.6 Investments**_
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
## _**2.7 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.
## _**2.8 Liabilities and provisions**_
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 10
**PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **2. Accounting policies (continued)**
## _**2.9 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.
## _**2.10 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes of making donations to charities chosen by Paver Family members.
## **3. Income from donations and legacies**
|**_Donations_**
Pavers Ltd
Donations from Pavers family
Other donations
**_Total 2021_**
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
13,275
-
53,451
66,726
288,393|**Total**
**funds**
**2021**
**£**
**13,275**
**-**
**53,451**
**66,726**
288,393|Total
funds
2020
£
257,030
21,500
9,863|
|---|---|---|---|
||||288,393|
|||||
## **4. Investment income**
|Investment income
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
26,836
125,610|**Total**
**funds**
**2021**
**£**
**26,836**
125,610|Total
funds
2020
£
125,610|
|---|---|---|---|
|||||
Page 11
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **4. Investment income (continued)**
## **5. Expenditure on raising funds**
|Investment management fees
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
7,041
11,615|**Total**
**funds**
**2021**
**£**
**7,041**
11,615|Total
funds
2020
£
11,615|
|---|---|---|---|
|||||
## **6. Charitable activities**
|Grants payable (note 7)
Support costs (note 8)
Total 2020|**Unrestricted**
**funds**
**2021**
**£**
159,736
6,330
166,066
350,678|**Total**
**funds**
**2021**
**£**
**159,736**
**6,330**
**166,066**
350,678|Total
funds
2020
£
342,859
7,819|
|---|---|---|---|
||||350,678|
|||||
Page 12
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
**7. Analysis of grants**
|Family donations
Committee donations
Charity of the year
Other donations
Total 2020|**Grants to**
**Institutions**
**2021**
**£**
64,325
37,911
57,500
-
159,736
341,859|**Grants to**
**Individuals**
**2021**
**£**
-
-
-
-
-
1,000|**Total**
**funds**
**2021**
**£**
**64,325**
**37,911**
**57,500**
**-**
**159,736**
342,859|Total
funds
2020
£
100,130
91,379
145,000
6,350|
|---|---|---|---|---|
|||||342,859|
||||||
Page 13
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **7. Analysis of grants (continued)**
The Charity has made the following material grants to institutions during the year:
|**_Name of institution_**
Dementia UK
MIND
Shout 85258
Age UK
Accessible Arts and Media
Fashion & Textile Childrens Trust
Trinity Hall College Cambridge
Lepra
The Prince's Trust
The Wight Brainy Bunch
Lauren's Legacy
EMMAUS
Fulford School
Uluslararasi Yardimlasma ve Entegrasyon Dernegi
Muscular Dystrophy UK
Hull Kingston Rovers Community Trust
Antibiotic Research UK
Hull Women's Aid
Hull Children's Hospital
Other grants to institutions|**2021**
**£**
**-**
**-**
**50,000**
**15,000**
**10,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**105,000**
**54,736**
**159,736**|2020
£
65,000
65,000
-
-
-
-
-
-
-
-
-
5,000
20,000
10,000
15,000
10,000
7,500
5,000
10,000|
|---|---|---|
|||212,500
129,359|
||||
|||341,859|
Page 14
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **8. Support Costs**
|Advertising
Committee meetings
Travel and subsistence
Sundries
Legal fees
Charges
Audit and accountancy
**_Total 2021_**
Total 2020|**Governance**
**2021**
**£**
-
-
-
-
-
-
4,300
4,300
3,786|**Grant Making**
**2021**
**£**
-
550
80
-
1,207
193
-
2,030
4,033|**Total**
**funds**
**2021**
**£**
**-**
**550**
**80**
**-**
**1,207**
**193**
**4,300**
**6,330**
7,819|Total
funds
2020
£
2,099
490
629
431
-
384
3,786|
|---|---|---|---|---|
|||||7,819|
||||||
## **9. Independent examiner's remuneration**
||**2021**|2020|
|---|---|---|
||**£**|£|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**3,400**|3,300|
|Fees payable to the Charity's independent examiner in respect of:|||
|Taxation compliance services|**900**|486|
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2020: £nil).
During the year ended 31 January 2021, no Trustee expenses have been incurred (2020: £nil).
Page 15
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **11. Fixed asset investments**
||**Listed**
**investments**|**Total**
**2021**|**Total**
**2020**|
|---|---|---|---|
||**£**|**£**|**£**|
|**_Cost or valuation_**||||
|At 1 February2020|1,703,306|**1,703,306**|1,806,124|
|Additions|1,374,390|**1,374,390**|24,200|
|Disposals|(1,399,061)|**(1,399,061)**|-|
|Revaluations|(220,459)|**(220,459)**|(127,018)|
|At 31 January 2021|1,458,176|**1,458,176**|1,703,306|
|||||
|Investment cash|53,013|**53,013**|21,887|
|At 31 January2021|1,511,189|**1,511,189**|1,725,193|
|||||
|Historical cost|1,959,200|**1,959,200**|1,959,200|
## **12. Creditors: Amounts falling due within one year**
|Other creditors
Accruals and deferred income|**2021**
**£**
**81,547**
**4,300**
**85,847**|2020
£
63,918
3,300|
|---|---|---|
||||
|||67,218|
Page 16
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **13. Statement of funds**
|**Statement of funds**||||||
|---|---|---|---|---|---|
|**Statement of funds - current year**
**Balance at 1**
**February 2020**
**£**
**_Unrestricted_**
**_funds_**
**_Designated funds_**
G Paver's funds
**33,563**
I Paver's funds
**18,313**
S Paver's funds
**45,440**
J Paver's funds
**28,336**
**125,652**
**_General funds_**
General Fund
**1,810,679**
**_Total Unrestricted_**
**_funds_**
**1,936,331**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**93,562**
**93,562**|**Expenditure**
**£**
**(20,000)**
**(4,000)**
**(32,621)**
**(7,704)**
**(64,325)**
**(108,782)**
**(173,107)**|**Transfers**
**in/out**
**£**
**9,356**
**9,356**
**9,356**
**3,119**
**31,187**
**(31,187)**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**-**
**(220,459)**
**(220,459)**|**Balance at 31**
**January 2021**
**£**
**22,919**
**23,669**
**22,175**
**23,751**|
|**_Unrestricted_**
**_funds_**
**_Designated funds_**
G Paver's funds
I Paver's funds
S Paver's funds
J Paver's funds
**_General funds_**
General Fund
**_Total Unrestricted_**
**_funds_**||||||
||||||**92,514**|
||||||**1,543,813**|
||||||**1,636,327**|
Page 17
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **13. Statement of funds (continued)**
## **Statement of funds - prior year**
|**_Unrestricted_**
**_funds_**
**_Designated funds_**
G Paver's funds
I Paver's funds
S Paver's funds
J Paver's funds
**_General funds_**
General Fund
**_Total Unrestricted_**
**_funds_**|Balance at
1 February
2019
£
7,663
12,413
24,140
40,232
84,448
1,927,191
2,011,639|Income
£
-
-
-
-
-
414,003
414,003|Expenditure
£
(15,000)
(35,000)
(19,600)
(30,530)
(100,130)
(262,163)
(362,293)|Transfers
in/out
£
40,900
40,900
40,900
18,634
141,334
(141,334)
-|Gains/
(Losses)
£
-
-
-
-
-
(127,018)
(127,018)|Balance at
31 January
2020
£
33,563
18,313
45,440
28,336|
|---|---|---|---|---|---|---|
|||||||125,652|
|||||||1,810,679|
|||||||1,936,331|
## **14. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds|**Balance at 1**
**February 2020**
**£**
**125,652**
**1,810,679**
**1,936,331**|**Income**
**£**
**-**
**93,562**
**93,562**|**Expenditure**
**£**
**(64,325)**
**(108,782)**
**(173,107)**|**Transfers**
**in/out**
**£**
**31,187**
**(31,187)**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**(220,459)**
**(220,459)**|**Balance at 31**
**January 2021**
**£**
**92,514**
**1,543,813**|
|---|---|---|---|---|---|---|
|||||||**1,636,327**|
Page 18
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **14. Summary of funds (continued)**
## **Summary of funds - prior year**
|Designated funds
General funds|Balance at
1 February
2019
£
84,448
1,927,191
2,011,639|Income
£
-
414,003
414,003|Expenditure
£
(100,130)
(262,163)
(362,293)|Transfers
in/out
£
141,334
(141,334)
-|Gains/
(Losses)
£
-
(127,018)
(127,018)|Balance at
31 January
2020
£
125,652
1,810,679|
|---|---|---|---|---|---|---|
|||||||1,936,331|
## **15. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|**Unrestricted**
**funds**
**2021**
**£**
1,511,189
210,985
(85,847)
1,636,327|**Total**
**funds**
**2021**
**£**
**1,511,189**
**210,985**
**(85,847)**
**1,636,327**|
|---|---|---|
## **Analysis of net assets between funds - prior period**
|Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|Unrestricted
funds
2020
£
1,725,193
278,356
(67,218)
1,936,331|Total
funds
2020
£
1,725,193
278,356
(67,218)
1,936,331|
|---|---|---|
Page 19
## **PAVERS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **16. Related party transactions**
During the year, one trustee made a donation of £nil (2020: £5,000) to the charity.
Pavers Limited, a connected company, donated £13,275 (2020: £257,030) to the charity.
Page 20