tkncusign Envelope ID.. 259804E34391.465A.JD243lsE5DD1o? SIR HARRY PILKINGTON FUND ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED TH 30 JUNE 2024 CHARITY NUMBER- 206740
DDcusign Envdtye ID". 259504E341301.46SA-gDD&24316ESOD102 SIR HARRY PILKINGTON FUND TH TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annual report and financial statements of Me charity for the year ended 301hJune 2024. The financial statements have been prepared in accordance with the accounting policies sel out in note 110 the financial statements and comply with Ihe charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). OBJECTIVES AND ACTIVITIES The trust has been established to make grants for charitable purposes. Public Benefit Funds are distributed giving benefi't lo a wide range of charilable organisations in Merseyside and St Helens. Particular preference 15 given to those organisations operating in the following fields.. arts and culture, youth work and health and general social welfare. The Trustee has considered the public benefit guidance published by the Charily Commission. Achievements and PgrforMan¢e Investments have been managed throughout the year by the Investment Managers, with performance being monitored by the trustee. This has enabled the trust to maintain its grant- making capacity. Financlal Review Investment income of £205,250 (2023.. £200,979) was received during the year. This, combined with reserves, funded grants of £119,008 {2023: £209,761) lo Gharilable organisations. Capital investments were valued al £8,943,570 (2023.. £8,213,009) at the year end. Investment Policy and Powers The trustee has Ihe same full and unrestricted powers of investment in all respects as if it were the beneficial owner. The investment strategy is set by the Irustee and takes account of recent demands for funds and an assessment of expected future needs (see Reserves Policy). The investment policy and strategy are reviewed with the investment managers at regular intervals. The inveslment objective is to maintain, overall, the real value of capital and income. Rlsk Management The main risks to which the charity is exposed as identified by the trustee have been considered and systems have been established lo mitigate those risks.
Dowsign Envdope It*. 259BQ4E39l.465A.9E)D0.2A3g6E5DolO2 SIR HARRY PILKINGTON FUND TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 TH Reserves Policy The trust deed permits the spending of c8Pltal,' the trustee has, however, agreed to retain Ihe capital for the time bging and to invest it to produee income to make grants. The trustee is managing the reserves to balance the needs of current and future beneficiaries. 11 is not anticipated that the needs of beneficiaries will diminish over time. Plans for the Future The objectives remain unchanged for the future- the intention is for continued inveslment management on a consistent basis and distribution of income to charitable organisations. Structure, Governance and Management Sir Harry Pilkington Fund is a registered chartiy, number 206740. It was established by a Trust Deed daled 14 March 1962. Appointment of Trustees: The corporate trustee, LCVS, has a trustee recruitment policy that maintains a diverse mix of skills and experience that supports the governance and management of the charity. There is balance between representation from 'communilies of interest, and individuals with business acumen. The induction procedure for new trustees includes dislribution of background information, access to all records and attendance at an organisalional induGtion session. Following this, new trustees formally sign a declaration of willingness lo serve. Name Charity number Principal Office Sir Harry Pilkington Fund 206740 LCVS 151 Dale Street Liverpool L2 2AH Liverpool Charity and Voluntary Services (LCVSI, a corporate trustee. which is incorporated under the Companies Act as a company limited by guarantee without share capital as company number 181759, a registered charily, number 223485, and a charitable Trust Corporation. LCVS trustees, who are also its directors, were as follows durin9 the year. Sonia Bassey MBE Mike Thomas Trustees LCVS Chair LCVS Treasurer
Docusign En¥10.. 259Bo4E>8391-4A-9DOO-24816E5DDl02 SIR HARRY PILKINGTON FUND TH TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 Trustees Continued Dorcas Akeju Sonia Bassey MBE Maxine Ennis Anna James (Appointed 171h October 2024) Dr Hardamanjit R Kaur (Appointed 171h October 2024) Ken Perry (Resigned 2nd September 2024) John Price (Resigned 41h November 2024) Anne Reading (Appointed 171h October 2024) Michael Salla Louise Scholes Gemma Shone James A Sloan Neil John Slurmey Mike Thomas (Resigned 30th June 2024) Secretary Independent Examiner Helen Rotheram Paula Sanchez ACCA Score Lane, Liverpool L16 5EF Ralhbone Investment Management Limited Port of Llverpool Building Pier Head Liverpool L3 1NW Investment Manager TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustees are responsible for preparing a trustees, annual report and financial slalements in accordancè with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the stale of affairs of the charily and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are reqLJired to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standaids have been followed, subject to any material dgpartures that must be disclosed and explained in the financial statements. prepare the financial statetnent5 on the going concern basis unless it is in8ppropriale to prosume thal the charity will continue in business. The truste&5 are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities {Accounls and Reports) Regulations, and the provisions of the Trust deed.
Envdope Itl. 259B04E3-8391-465A.gDDO-2431BE5DD102 SIR HARRY PILKINGTON FUND TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 TH They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detectiDn of fraud and other irregularities. STgned on behalf of the Trustee, Liverpool Charity and Voluntary Services by Mos Mike Thomas- LCVS Trustee 10/0212025 Dated:..
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SIR HARRY PILKINGTON FUND I report to the trustee on my examination of the accounts of Sir Harry Pilkington Fund {'th6 charily'l for the year to 30th June 2024, which are set out on pages 7 to 14. Responsibiliti95 and basis of report As the trustee of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the ChaTities Act 2Q11 I'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 14515)Ib) of the 2011 Act. An independent examination does not involve gathering all the eviden that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the accounts present a 'true and fair view, and my report is limited to those specific matters set out in the independent examiner's slatement. 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 reasonable cause to believe that in any material respect.. accounling records were not kept in respect of the charity as required by section 130 of the 2011 Act., or 2. the 8ccounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounls 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 examinatiDn tD which attention should be drawn in this report in ord8f to erbable a proper understanding of the accounts lo be reached. Name". Paula Sanchez Name of applicable listed body= Association of Chartered Certified Accountants Relevant professional qualification or body.. ACCA Dale.. 23/02/2025
Dgr1 Env4c¥)e ID.. 259B04E3.8391465kgDDD.24316E5DD102 SIR HARRY PILKINGTON FUND TH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted Funds Capital Funds 2024 Income Funds 2024 Total 2024 Total 2023 Income from: Investtnents Notes 205,250 205,250 200,979 Total Incorne 205,250 205,250 200,979 Expenditure on: Charitable activities 129,581 129.581 220,228 Total expenditure 129,581 129,581 220,228 Net incomg1{expendllurel 75,669 75,669 {19,249) Net gains(loss) on investment 730,561 730,561 251,083 Net movement in funds 75,669 730,561 806,230 231,834 ReconGiliation of funds.. Total funds brought forward 103,469 8,213,009 8,316,478 8,084,644 Total funds carried forward 179,138 8,943,570 9,122,708 8,316,478 The notes on pages 9 to 14 form parl of these accounts. The net movement in the funds in the year is derived from the continuing activity of the charity.
DoGusign EnvelopB ID. 25gB04E3-8391465A-9DW24316ESDD102 SIR HARRY PILKINGTON FUND TH BALANCE SHEET AS AT 30 JUNE 2024 30 June 2024 th 30 June 2023 Fixed assets Investments Notes 8,943,570 8,213,009 Current assets Debtors Cash balances 189,710 113,768 189,710 113,768 Current liabilities Creditors (10.572} {10,299} Net ourrent assets 179,138 103,469 Net assets 9,122,708 8,316,478 The funds of the charity: Unrestricted funds Capital funds Income funds 8,943,570 179,138 8,213,009 103,469 9,122,708 8,316,478 The notes on pages 9 to 14 fom part of these accounts. Approved and authorised for issue by the Trustees and slgned on thair behalf by Mike Thomas- LCVS Trustoe Dated: 10/0212025
Du9 Envdope ID.- 259BO4E3.8391.46SA4000.24316E5DD102 SIR HARRY PILKINGTON FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 TH 1. ACCOUNTING POLICIES Basis of Accounting The accounts have been prepared under the historical cost convention wilh items recognised at cost or transaction value unless otherwise slated in the relevant notels} to these accounts. The financial statements have been prepared in accordance with the statement of Recommended Practi.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) {SORP 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS102) and Charities Act 2011. The trust constitutes a public benefit entity as defined by FRS 102. The accounts ar6 prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity has taken advantage of the provisions in the SORP for Chatilies applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern At the tiine ol approving the accounts, the trustee has reasonable expectation that the ¢harity has adequale resources to continue in operational existence for the foreseeable future. Thus, the trustee continues to adopt the going concern basis of accounting in preparing the accounts. Investments In accordance with Statement of Recommended Practice., Accounting and Reporting by Charities (SORP 2019}, investments held as fixed assets are stated at fair value. Realised and unrealised gains and losses are dealt with as movements on the Capilal Fund. Investments are valued at the mid-market Pri on the valuation date. Fund accounting Unrestricted funds are consid8red Yree, reserves and are available for use or retention at the discretion of the Trustees, in accordan with the charity's objectives. Free reserves are undesignated funds available for the fvrtherance of the general objectives of the charity. Income recognition Income from investments comprises dividend income and interest and are accounted for when received in the financial year. Donations are recognised at the earlier of notification or date of receipt, in the case of the third-party donations and legacy income when received by the organisalion. Expendlture recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expendFture, il is probable that settlement will be required. and the amount of the obligation can be measured reliably. All expenditure is accounted for Dn an accrual basis. All expgnses, including support and governance costs, are allocated or apporlioned lo the applicable expenditure headings in Ihe statement of financial activities.
DLusign Envelop& ID.. 259804£J91.46SA-sDw2451sE5DDl02 SIR HARRY PILKINGTON FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2Q24 Raising funds costs relate to expenses incurred in the managemenl of the inveslment assets, Charitable activities include grant funding, along with associated support costs, to beneficiaries. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Governance costs relate to compliance with constitutional and statutory requirements and specitically include all costs incurred by the charity in producing the Annual Report. Cash and cash equivalents Cgsh and cash equivalents include cash in hand, deposits held at call wilh banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafis. Financial instruments The charity has elected to apply the provisions of Section 11 'B8sic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in Ihe charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offse( with the net amounts presènted in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a net basis or to realis8 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 transaclion costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constilules 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 rO1Vable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors gre initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future retsipts discounled at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carri8d at amortised cost, using the effective interest rate method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. io
D(xwgn Envelope ID.. 259804E>8391.465A-gDW24316E5DD102 SIR HARRY PILKINGTON FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2024 Taxation The charity benefits from various exemptions from taxation afforded by tax legis18tion and is not liable to corporation tax on income or gains falling within those exemptions. Partial recovery is made of tax credits on UK dividend income. The charity is not able lo recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. Critical Accounting Estimate5 and Judgemgnts In the application of the charily's accounting poliaes, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estirnate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 2. Income and endowments from: Income Funds 2024 Capital Funds 2024 Total Total 2024 2023 Investments Investments dividends and interest 205,250 205,250 200,979 3. Expenditure on charitable activities: Direct Support & Charitable Governance Expenditure Costs Total 2024 Total 2023 to make grants for charitable purposes 125,850 3.731 129,581 220,228 Analysed as follows. 2024 2023 DireG( charilab18 exp8nditure.' Grant funding Grant making administration LCVS 119,008 6,842 209,761 6,699 125,850 216,460 li
ocusign Env4ope IL>. 259B04E3-8391465A-9DDO-24316E5DD1D2 SIR HARRY PILKINGTON FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 TH 2024 2023 Support & Governance costs." Financial Administration - LCVS Independent examination 3,421 310 3,350 418 3,731 3,768 Total expendlture on charitable actlvities 129,581 220,228 The following grants were made during the year.. Grants of £1,000 and over Acronym Community Empowerment Act for Action CIC Afro Caribbean and Friends Lunch Club Alt Valley Community Trust Barnston Dale Centre Bridge2 (Liverpool) Limited Brunswick Youlh and Community Centrgl Youth Club Christians Against Poverty Cohiba Compass Counselling Services Crawford House Community Partnership East Liverpool Riding For The Everton in the Community Evolve Tackling the Impad of Substance Misuse Frezzled Cafe Friends OfAllonby Canoe Club Ghizng Kurdish Saturday School Hope Centre - St Helens Irish Community Care Kindred Minds Liverpool Ar8b Arts Festival Liverpool Six Community Association Make LCR Cic Mary Seacole House Marybone Youth Community Association Men Metal Culture Ltd Mpower People CIC Natural Breaks Ltd Netherton Feelgood Factory New Hc)rizons Enrichment & Education Norris Green Youth Centre Ltd 1,500 3,000 1,500 1,500 3,000 1,500 1,500 1,500 1,5QO 1,500 1,500 1,500 3,000 2,500 3,000 1,500 2,600 1,520 1,785 1,500 2,000 1,400 1,500 1,000 2,000 1,330 2,000 3,QDO 1,500 1,500 1,50a 2,000 1,125 12
tkwsigTh Envdope1Tr. 259804E3-8391-465A-9DDD-24316E5DD1D2 SIR HARRY PILKINGTON FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 TH North Wesl Cancer Research Orrell Park And District Community Our House Community Our Place Community Hub CIC PCC Of Christ Church And Holy Porchfield Community Centre Raise Limited Scrapyard Studios CIC Shrew*bury House Signs OfA Rainbow CIC South Central Community Transport Sports Alive North West st Cyril's Community & Young Project St Hilda's Church Hunts Cross St Mary's Millennium Centre St Michaels and Lark Lane Stick'N' Slep The Bobby Colleran Trust The Congolese Association Of Merseyside The Croissant Of Inequality Café CIC The Initiative Factory The Lodge The New Belve Youth & Community The Opening Doors Project The River Of Life CIC The Vibe Liverpool Thred CIC Triple C (Liverpool) Vees Place Yellow House 3,000 1.500 1,070 1,750 1,000 1,100 2,704 2,996 1,820 2,850 1,500 1,500 1,500 2,000 3,000 1,485 2,000 3,DOO 1,630 1,500 2,000 2,400 1,440 1,500 1,400 2,080 1,650 2,000 1,498 1,500 116,633 2,375 Grants under £1,000 Total grants 119,008 13
DLKutslgn Envelcpb ID." 259804E34391.465A.gDDO.24316ESDD102 SIR HARRY PILKINGTON FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 TH 4. Fixed Asset Investments 2024 2023 Quoted Investments". Market value al 1 $1 July 2023 Net unrealised gains on invostment assets 8,213,009 730,561 7,961,926 251,083 Market Value at 30 June 2024 8,943,570 8,213,009 Ih Book Value at 30 June 2024 4,847,197 4,847,197 The trust holds 100°A of its fixed asset investments in a Charity Commission approved pooling scheme. the Settlors. Trust Fund (STF), administered by Liverpool Charity and Voluntary Services and managed by Rathbone Investment Management Ltd. At 30th June 2024, the assets of the STF fund had a total market value of £33,821,443 {2023'. £31,099,741) ofwhich £8,943,570 {2023'. £8,213.009) is an asset ofthe trust. Due to the pooling scheme, il is not possible to disclose the fair value of the investment held in the Sir Harry Pilkington Fund by category li.e. cash, property, equity). All investments are held primarily lo provide an investment relurn. 5. Debtors There were no d8btors during the year 8nd 301h June 202412023: £nil) 6. Creditors 2024 2023 Financial Adminislration- LCVS Independent examination fee 10,262 310 10,049 250 10,572 10,299 7. Unrestricted Funds Income Fund.. Investment income and donations received for distribution as grants to individual young people and charitable voluntary youth organisations. Capital Fund,, Funds held provide income for the on-going activities of the tru51. 8. Related Party Transactlons Charitable Activities.- thèse include £6,841 (2023.. £6,699} grant making administration costs and £3,481 (2023.. £3,350) governance costs in respect of accountancy and trust administration. Creditors.- these include £10,26312023.' £10,049) owing to LCVS at the year end. LCVS is related to the Trust by virtue of being the corporate trustee. No trustee received remuneration or expenses as parl of their role as Trustee of the charily. 14