## Pursue
Report and Accounts Year ended 31 March 2022
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **Pursue**
## **LEGAL & ADMINISTRATIVE DETAILS**
## **FOR THE YEAR ENDED 31 MARCH 2022**
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 YEAR ENDED 31 MARCH 2022**
The Trustees have pleasure in submitting the first Report and Accounts for the year 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**
The financial year 2021-22 has been another very successful year for Pursue as we continue to support Pursue Kenya. Pursue is predominantly a grant-making organisation.
We are excited that in 2021-22 Pursue Kenya managed to undertake a number of projects which achieved several key project outcomes such as the following:
1. 377 people treated for Jiggers
2. 1,137 pupils positively impacted by their teachers receiving training
3. 83 widows receiving regular support
Looking forward to 2022-23 and beyond we are aware that we continue to develop and build firm foundations. We received a number of larger donations and grants in 2021-22 which will see some key new projects developed, however we are keenly aware of the development of further fundraising activities to support our continued and sustainable growth.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Financial review**
During the year Pursue received income of £33,845 (11 months in 2021: £24,740), and spent £31,346 (11 months in 2021: £16,040). At the year end the cash held by the charity is £11,198 (2021: £8,700), of which £7,022 (2021: £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 £3,000 and £7,500 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**
Peter Coggan-Lennox Treasurer
Date: 30 January 2023
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 year ended 31 March 2022 on pages 5 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**
Lourens du Plessis ACA CA(SA)
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 31 January 2023
Page 4
## **Pursue**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## **FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**_Income receipts_**
Donations
Sales of goods
Bank interest
**_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
£
£
25,665
7,306
869
-
5
-
26,539
7,306
2,867
8
22,071
6,401
24,938
6,408
24,938
6,408
1,601
898
-
-
1,601
898
5,421
3,278
7,022
4,176
Unrestricted Funds|2022
£
32,971
869
5
33,845
2,874
28,472
31,346
31,346
2,498
-
2,498
8,700
11,198|11 months
2021
£|
|---|---|---|---|
||General
Funds
£
25,665
869
5
26,539
2,867
22,071
24,938
24,938
1,601
-
1,601
5,421
7,022|||
||||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 2022**
|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
£
7,022
**7,022**
2,734
-
**2,734**
630
**630**
630
Unrestricted Funds|Restricted
funds
£
4,176
**4,176**
2,279
-
**2,279**
-
**-**
-|2022
£
11,198
**11,198**
5,013
-
**5,013**
630
**630**
630|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**
-------------------------------------------Peter Coggan-Lennox Treasurer Date: 30 January 2023
The notes on pages 7 - 8 form part of these accounts.
Page 6
## **Pursue**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## **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.
|**2**
**Payments in relation to charitable activities undertaken directly**
Insurance
Fundraising
Accounts preparation and independent examination
Office costs
Costs of sales
**3**
**Grants paid in relation to charitable activities undertaken by others**
Grants for:
Education and community projects|Unrestricted Funds
General
Restricted
funds
Funds
£
£
-
-
517
-
600
-
1,749
8
-
-
2,867
8
22,071
6,401
22,071
6,401|Total
2022
£
-
517
600
1,757
-
2,874
28,472
28,472|Total
11 months
2021
£|
|---|---|---|---|
||||1,158
-
-
1,509
263|
||||2,931
|
||||13,110|
||||13,110
|
Page 7
## **Pursue**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## **Movement of funds**
|**vement of funds**|||||
|---|---|---|---|---|
|General funds
**Restricted funds**
Community
Education Training Officer Wages and Expenses
Food Parcels
Hospital Packages
Jiggers
Learning and Training Material
Education
Income generation
**Total funds**|Balance at
31 Mar 2021
£
5,421
750
2,165
59
75
50
179
-
-
3,278
8,700|Receipts
£
26,539
50
4,256
-
-
-
-
2,000
1,000
7,306
33,845|Payments
£
24,938
-
-
5,122
-
-
75
-
50
-
179
-
-
981
-
6,408
-
31,346
-|Balance at
31 Mar 2022
£
7,022
800
1,299
59
-
-
-
2,000
19|
|||||4,176|
|||||11,198|
Community Fund: Funds given to establish new community projects. Education Training Officer Wages and Expenses: Funding for staffing and expenses for Education officers. Food Parcels: Provision of food to community people in need 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. Education: funds held specifically for general education projects. Income generation: funding available to support starting new social and community enterprises.
Page 8