## Pursue
Report and Accounts Year ended 31 March 2021
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **Pursue**
## **LEGAL & ADMINISTRATIVE DETAILS**
## **FOR THE PERIOD ENDED 31 MARCH 2021**
ADDRESS FOR CORRESPONDENCE Kent Cottage Mill Lane Stratford Sub Castle Salisbury SP1 3LJ GOVERNING DOCUMENT CIO Foundation Constitution dated 14 May 2020 CHARITY REGISTRATION NUMBER 1189518 TRUSTEES RESPONSIBLE FOR Antony Isaac MANAGING THE CHARITY Richard Bell Rt Rev Timothy Wambunya (appointed 24 June 2021) Anne Wardroper Peter Coggan-Lennox INDEPENDENT EXAMINER Lourens du Plessis ACA CA(SA) Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
## **INDEX**
Page 1 Legal & Administrative Details Pages 2-3 Trustees' Report Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Pages 7-8 Notes to the Accounts
Page 1
## **Pursue**
## **REPORT OF THE TRUSTEES**
## **FOR THE PERIOD ENDED 31 MARCH 2021**
The Trustees have pleasure in submitting the first Report and Accounts for the period ended 31 March 2021.
## **Objects of the charity**
The charity is governed by a constitution and is constituted as a charitable incorporated organisation. The charity's principal objects, as set out in its governing document, are:
The objects of the CIO, which are carried out within a Christian ethos, are the advancement of education, and the relief of those in need by reason of disadvantage, such as youth, age, ill-health, disability, financial hardship or other disadvantage as the trustees determine from time to time, anywhere in the world, in particular through the provision of grants, services, guidance and support for community and education development projects.
## **Summary of the charity's main activities and achievements**
2020-21 proved to be a very exciting and productive year for Pursue. We were very encouraged to have registered with the charity commission as a Charitable Incorporated Organisation (CIO). This is the culmination of many years of hard work by several key individuals. When the charity was started our aim was always to work to ensure that the charity was stable, and this was one step in that process when it reached a significant enough size to apply for registration.
Registration with the charity commission has also enabled us to begin exploring diversifying our income channels. This will enable increased growth in future years. This has started with an increase in donations as we have had several donors who have been waiting for us to complete our registration prior to donating.
The charity is predominantly a grant-making organisation and works closely with Pursue Kenya, a charity based in Kenya. With the worldwide pandemic, that charity had many challenges, and several projects were reduced or cancelled due to restrictions in movement. However, Pursue Kenya were able to adapt a few programmes and overcome barriers to achieve several great outcomes.
Pursue was responsible for enabling Pursue Kenya to:
- recruit several new staff to increase the impact and work including an Education Officer
- contribute to the ongoing training and assessment of 73 teachers across 27 schools
- establish an adult literacy programme
- facilitate widows groups in the community
- support vulnerable adults in the community during the pandemic, including the provision of food and
- washing facilities
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Financial review**
During the charity's first period income was £24,740, and expenditure £16,040. As a result the cash held by the charity is £8,700, of which £4,230 is unrestricted and can be used for any charitable purpose.
Page 2
## **Reserves policy**
Pursue is committed to ensuring that it is financially secure and to develop a full range of mitigating systems to support this aim. The trustees have decided to set the reserves level at 10-25% of their annual expenditure. At current budgeting forecast, that is between £1000 and 2500 which will provide us with 1.25 to 3 months general operating funds should this be needed. Due to the current situation of Pursue as a new charity, it is felt that we would like to quickly develop our foundations and build a secure reserve that will support the charity to establish itself for a long future of development.
## **Governance**
Responsibility for setting policy and for making operating decisions rest with the trustees who meet regularly to monitor the activities of the charity. New trustees are recruited and appointed by the existing trustees, by a majority vote.
## **Risk statement**
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
## **Responsibilities of trustees**
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## **Approval**
This report was approved by the trustees and signed on their behalf by:
Peter Coggan-Lennox Treasurer
Date: 27th January 2022
Page 3
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **Pursue**
I report to the trustees on my examination of the accounts of Pursue ('the charity') for the period ended 31 March 2021 on pages 4 to 8 following.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
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 accordance with section 130 of the 2011 Act; or
2. the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Lourens du Plessis ACA CA(SA)
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 28 January 2022
Page 4
## **Pursue**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## **FOR THE PERIOD ENDED 31 MARCH 2021**
|Notes
**_Income receipts_**
Donations
Sales of goods
**_Total receipts_**
**_Payments_**
2
3
**_Total payments_**
Transfers between funds
4
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**
A
Net of receipts / (payments) before
Grants
paid
in
relation
to
charitable
activities undertaken by others
Payments
in
relation
to
charitable
activities undertaken directly|General
Restricted
Funds
Funds
£
£
17,201
6,551
988
-
18,189
6,551
2,927
4
9,841
3,269
12,768
3,273
12,768
3,273
5,421
3,278
-
-
5,421
3,278
-
-
5,421
3,278
Unrestricted Funds|11 months
2021
£|
|---|---|---|
||General
Funds
£
17,201
988
18,189
2,927
9,841
12,768
12,768
5,421
-
5,421
-
5,421||
|||23,752
988|
|||24,740|
|||2,931
13,110|
|||16,040|
||||
|||16,040|
|||8,700
-|
|||8,700
-|
|||8,700|
The notes on pages 7 - 8 form part of these accounts.
Page 5
## **Pursue**
## **STATEMENT OF ASSETS AND LIABILITIES**
**AS AT 31 MARCH 2021**
|Notes
**A Cash funds**
Cash at bank with immediate access
**B**
**Other monetary assets**
Gift aid due to charity
Other debtors
**C**
**Liabilities**
**Falling due within one year**
Fee for Independent Examination
**Total**|General
funds
£
5,421
**5,421**
1,397
2,992
**4,389**
540
**540**
540
Unrestricted Funds|Restricted
funds
£
3,278
**3,278**
1,215
-
**1,215**
-
**-**
-|2021
£|
|---|---|---|---|
||||8,700|
||||**8,700**|
||||2,612
2,992|
||||**5,604**|
||||540|
||||**540**|
||||540|
## **D Guarantees and secured debts**
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf by:
Peter Coggan-Lennox Treasurer Date: 27th January 2022
The notes on pages 7 - 8 form part of these accounts.
Page 6
## **Pursue**
## **NOTES TO THE ACCOUNTS**
## **FOR THE PERIOD ENDED 31 MARCH 2021**
## **1 Accounting policies**
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
Comparatives have not been provided for numbers in the accounts as this is the first period that the charity has operated.
|**2**
**Payments in relation to charitable activities undertaken directly**
Insurance
Office costs
Costs of sales
**3**
**Grants paid in relation to charitable activities undertaken by others**
Grants for:
Relief of poverty
Education and training|Unrestricted Funds
General
Restricted
funds
Funds
£
£
1,158
-
1,505
4
263
-
2,927
4
9,841
3,269
9,841
3,269|Total
11 months
2021
£|
|---|---|---|
|||1,158
1,509
263|
|||2,931|
|||-
13,110|
|||13,110|
Page 7
## **Pursue**
## **NOTES TO THE ACCOUNTS**
## **FOR THE PERIOD ENDED 31 MARCH 2021**
## **Movement of funds**
|**vement of funds**||
|---|---|
|Balance at
31 Mar 2020
Receipts
Payments
£
£
£
General funds
-
18,189
12,768
-
**Restricted funds**
Community
-
750
-
Covid response
-
200
200
-
Education Training Officer Wages and Expenses
-
5,236
3,071
-
Food Parcels
-
60
1
-
Hospital Packages
-
75
-
Jiggers
-
50
-
Learning and Training Material
-
180
1
-
-
6,551
3,273
-
**Total funds**
-
24,740
16,040
-
Education Training Officer Wages and Expenses: Funding for staffing and expenses for Education officers.
Food Parcels: Provision of food to community people in need
Community Fund: Funds given to establish new community projects.
Covid response|Balance at
31 Mar 2021
£
5,421
750
-
2,165
59
75
50
179|
||3,278|
||8,700|
|||
Hospital Packages: Provision of support at local hospital as locals struggle to access health care. Additional costs for food and bed space at hospital Jiggers: Medical treatment of jiggers including medical equipment and transportation costs
Learning and Training Material: Provision of books and training material for teacher training.
## **5 Comparative figures and previous operations**
Pursue was registered as as CIO on 15 May 2020, at which point all previously accumulated funds were transferred into the new CIO from the previous unincorporated organisation. Previously accumulated funds of £3,713 are therefore included in receipts for the period, and there are no opening balances or comparative figures for the charity.
Page 8