THE CECIL AND ALAN PILKINGTON TRUST FUND (Registered Charity No: 237623) TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
THE CECIL AND ALAN PILKINGfoN TRusf FUND Year ended 31 March 2025 Contents Page Trustee< report i-io Audltors, report 11- 13 Statement of finandal actlvlties 14 Balance sheet 15 Cash flow statement 16 Notes to the accounts 17-26
THE CECILAND ALAN PILKINfjfoN TRusf FUND Year ended 31 March 2025 Trustees Annual Report Admlnistratlve Inforniation Dlrectors of trustee Lady Pilkington {Klrsty) Mr D J Bricknell Mr J A S Pilkin on Mr D C Pilkington i Mrj McKenna l Mr J MoneL_ Ms J Halli an Ms J Tomkinson l Ms Vsimon Mrs S Desmond M5 K Greenhalgh {to 14 March 2025 Mr G Colville (from 17 February 2025 Mrs P Milli -an Ito 31 March 2025 Ms A Holden Qfrom l April 2025)._. l Mrs D SwiftLto 30 June 2024 i Ms J Boote (from 3 June 2024 Enterprise Offices Salisbury Street St Helens Merseyside , WAIO IFY companies Chlef Executlve Officer Senior management Princlpal office Charlty number Auditors 237623 Livesey Spottiswood Limited 17 George Street I St Helens l Merseyside ', WAIO IDB National Westminster Bank PIC | Ormskirk Street St Helens Merseyside WAIO IDR Bank Investment managers One Angel Lane London EC4R 3AB Sarasin & Partners LLP Juxon House 1100 st Paul's Churchyard London EC4M 8BU
THE CECIL AND ALAN PILKINGfoN TRusf FUND Year ended 31 March 20Z5 Trustees Annual Report The trustees present their report alon8 With the financial statements of the Charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out on pages 17 to 18 and comply with the Charty's Trust Deed. 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 Reportlng Standard applicable in the UK and Republic of Ireland published in October 2019. 5trutture, govemance and management Governing document The Cecil and Alan Pilkington Trust Fund is a registered charity (Registration No.. 237623). The Trust Fund also works under the umbrella name of The Pilkington Family Trust. The Trust Fund is an amalgamation (7th July, 19771 of the following Deeds: Alan Douglas Pilklngton Trust Fund (Founding Deed Ilth June 1948) Alfred Cedl Pilklngton Trust Fund (Founding Deed 1st May 1937) The following limited companies acted as trustees throughout the year to 31 March 2025.. Pllkington Employees Trustee (No.1) Limited (Company Registration No: 01161784) Pilkington Employees Trustee {No.2) Umited (Company Registration No". 01161785) The directors of the trustee companies are appointed bythe Board of the trustee companies. The director5 of the trustee companles meet three times a year to agree the broad strategy and areas of activity for the Trust. The Trust does not artively fundraise but seeks to continue the work through the planning and management of its resources. Under the Trust Deed the trustee5 have absolute discretion and unrestrlcted powers of investment. The Investment Committee assists the direttors of the trustee companies in the consideration of the investment, reserves and risk management policies and performance. The following dlrectors of the trustee companies were members of the Investment Committee during the year: Mr D J Bricknell Mrj McKenna Mrj Money Pilkington Retirement Services Limited {P.R.S.L) acts as an employment vehicle forthe Trust and holds the contracts of employment of the Trusvs employees. The followin8 directors of the trustee companies were also members of the P.R.S.L Board. Mr D J Bricknell Mr J McKenna
THE CECIL AND ALAN PILKINGfoN TRusf FUND Year ended 31 March 2025 Trustees Annual Report Induction and tralning of new trustees The induction process for any newly appointed director of thetrustee companies comprises an in depth briefing and training programme to provide an overview of all aspects of the work of the Charity, and includes experience of service delivery. The officers of the Charity provlde key information on managing the Trust, which Includes: Trust deeds and a55OClated documentation," trustees, powers and responsibilities," investment and financial strutture; management structure and stafFing; and the scope and breadth of the community care programme and the end users. All trustees of the Charity and dlrectors of the board give their time voluntarily and receive no benefits in that capacity. Allowable travel expenses may be claimed and are disclosed in the accounts. Organisational structure The day- to-day administration of the community care programme and the resources is delegated to the Chief Executive Officer who is the Managing Director of P.R.S.L. and its employees. The trustees consider the Chief Executive Officer and senior management as the key personnel in charge of running and operatingthe Charity on a day-t(Fday basis. The pay for key personnel is encompassed within the pay review sy5tern for all of the Charitvs staff. The trustees review appropriate pay research and the union pay claim, consider recommendations and propose an increase which is negotiated wtth the union representatives. Once agreed, the pay award is implemented for all staff, including key personnel. Objertlves and actlvitles Vlslon, aims and objectives The primary objectives of the Charity are to provide assistance to those in necessitous circumstances belng employees, ex-employees and dependants of employees and ex-employees of Pilkington Brothers Ltd or its successors In business and its subsidiaries. In so far as the income is not required for such application it may be applied to others In need. The Trust Fund's mission statement is There to core when core is needed.. To achieve thi5, the Charity has developed a community care programme to supportthose individuals In the greatest need. The main purpose of the programrne is to enable people to live as fulfilled a life as possible by supporting them to keep mentally and physically active. The programme aimsto maintaln contact with all beneficiaries to help keep people living independently. We aim to promote health and well-being whilst tackling social isolation.
THE CECIL AND ALAN PILKINGfoN TRusf FUND Year ended 31 March 2025 Trustees Annual Report Ruskin Lodge is our purpose built respite care centre in St Helens for the over 605. It is available to all beneficiarle5 living in the UK. Assessments are carried out to ensure the Trust can provide the appropriate care. The Trust continue5 to provide support to beneficiaries overseas in Australia, New Zealand, Canada and South Africa. The objectives for the year support the strategic aims and help to ensure the trustees, objectives are Met in an efficlent and effective way. When setting objectives, the trustees have given due regard to Charity Commission guidance relatingto public benefrt. The Trust looks to achieve its aims by maintaining a strong organisational Structure, effettive financial management and by fostering a culture of continuous learnlng and development to ensure effective delivery of services. The trustees are currently in the process of renewing the Trusys longer term strategic objettives to develop and enhance its support for beneficiaries. Achlevements and performance in the year We continue to offer a range of services to support our beneficlaries. Welfvre and Community We provide a wide range of services in the communityto support our beneficiaries to live independently at home, promote health and wellbeing and to tackle social isolation. Our team of Welfare Officers based in St Helens and our Regional Officers in North Wales, Wrexham, Doncaster, Birmingham and Glasgow keep in touch with beneficiaries by visiting and making telephone calls. Ourteam provide a listening ear and a welfare check, carry out assessments and referrals for our services and provide support with applications for benefits. They also offer information and advice and signposting to services in the local area. Forthe calendar yearto 31 December 2024 there were 3,907 welfare vlslts. We also offer a befriendlng servTce called Llnk Up. Our Link Up service is available across the UK to beneficiaries who would like a regular phone call at a time to sutt them. Our team provide friendly ear and can signpost to services or activities that may be useful. For the calendar yearto 31 December 2024there were 2,809 befriending telephone calls on our link up service.
THE CECIL AND ALAN PILKINGfoN TRUSf FUND Year ended 31 March 2025 Trustees Annual Report Support at Home We offer access to a range of home based Services in St Helens and UK wide. These include: Hairdressing Garden Maintenance Domestic Services (laundry, ironing and cleaning) Shopping Sitting Service, to enable re5plte for carers. Our welfare teams assess need and eligibility for services. For those who may have difficulty preparing a hot meal, ourfriendly drivers deliver hot meals to beneficlaries in the St Helens area 7 days a week. For the calendar year to 31 December 2024 there were 18.774 hot meals and 8,343 frozen meals dellvered. Ruskin Lodge- Our Respite Centre We recognise the importance for carers to be able to take some time awayfrom their carlng duties to support their own heatth and well-being. Ruskin Lodge, our purpose built resplte care centre in St Helens for the over 60s, offers care for up to 22 people. For those who like to stay active, we offer a range of activities and day trips, as well as being a haven of calm and relaxation. Our friendlyteams are on hand 24 hours a day, 7 days per week. The lodge is open to Pilkington beneficiaries and private guests. Ruskin Lodge is subjert to statutory inspections by the Local Authority and the Care Quality Commission ICQCI. The CQC have moved from a cycle of inspections to a process focussed on managlng risk. We have been rated 'Good' by the Care Quality Commission in our latest coc report. In January 2024 we identified the need to undertake essential maintenance work on the building. As a result of this we suspended the service to ensure the safety of our guests. The building work was completed during the year, and we r&opened at reduced capacity to guests in summer 2024. The lodge is now operating at full capacity and with good levels of occupancy. We continue with initiatives to improve our buildin& equipment, systems and financial efficiency to ensure that our beneficiaries can continue to receive an excellent service. For the calendar year to 31 December 2024 there were 186 respite stays at Ruskin Lodge. Social Progrommes Havin8 fun and staying active alongside others in the communrty supports emotional and physical wellbeing. We plan a range of activities. outings, and events to 5UPPOrt people and their carers in St Helens.
THE CECIL AND ALAN PILKINGfoN TrUST FUND Year ended 31 March 2025 Trustees Annual Report Outside of St Helens our Regional Welfare and Link Up teams can advise and Covordinate attivities and support in the local area. Examples of such activities include: A monthly Club, held in Rhuddlan Communty Centre, organised and led by beneficiaries in the area Llnking with social 8roups such as Men's Sheds. choirs, Wl, Coffee mornings, Craft clubs, Poetrygroups and Luncheons Adult learnin& for example compLrters and technology Linking with local support networks, for example Stroke Association clubs, dementia clubs, Parkinson'5 SUPPOrt group Keeplng active, for example Boccia, sit down tennis, chair yoga and Tai Chi Beneficiaries take part in a range of artivities at Ruskin Lodge in St Helens. Our day sessions provide activities, lunch and opportunities to socialise with others, For the calendar year to 31 December 2024 there were 73 daytrips organised. Dementia Support We offer a unique community service delivered by ourown Admiral Nurse, who can help people with dementia stay independent for longer and 5UPPOrt the people caring forthem. Our six week programme supports carers to develop skills and techniques to support and care for a person with dementla as well as providing advice on organisations, service5 and support that is available. For the calendar year to 31 December 2024 our Admiral Nurse made 134 visrts and there were 27 organised social activities for people living wlth dementia and their carers. Supportfvr Those Overseos Some of original Pilkington plants were located overseas, as a result we continue to deliver programmes of support in South Africa. Australia and Canada; including hosting vibrant reunions and get togethers to providing vital supplies and aids to indlviduals and homes in more disadvanta8ed communities. Where possible we continue to work closely with external agencle5 and other charities across England, Scotland and Wales. Grants In support of the above activtties a small number of grants are made to beneficiaries. and these are detailed In the accounts. Beneficiary numbers continue to decrease on an annual basis in all locations. At 31 March 2025 we had 6,223 beneficiaries in the UK on our records12024: 6.4971.
THE CECILAND ALAN PILKINGTON TRUST FUND Year ended 31 March 20Z5 Trustees Annual Report Other ochlevements ond changes during the yeor A refresh of our branding and new website ha5 been launched setting out the actSvities of the trust. We hope this will enable more of our beneficiaries to attess our services. Investment has been made in upgrading our information technology systems duringthe year. Notable examples during the year were a new payroll and HR system, and a new Person Centred Care system at Ruskin Lodge, moving us to diwal care plans and introduction of a new ELearning Suite to support development of our staff teams. This year we also held a Team Day, and had our first ever staff awards ceremony, to celebrate the achievements of ourteams duringthe year, which was a great success. Work has also commenced in reviewing our systems and policies, including ourcurrent programme of activities to ensure they continue to meet the need5 of our users. To 5UPPOrt thi5 work we have also undertaken an extensive consuhation exercise wrth our benefi'ciarie5 to help us develop our pro8ramme and inform our future strate8Y. The year has seen signtficant changes in staffing at the Trust including In the senior management team as previous members have retired. Financlal Review The Trust is rellant on the income from its investments. Investment income Is supplemented by contributions towards the services the Trust provides, through support from donations and a general grant from the Pilkington Charities Fund. The Trust also received restricted donations and grants. including £5k from The Rainford Trust, to support additlonal work in South Africa. We spent more on charitable activities compared to the previous financial years, largely due to inflationary pressure on our costs ratherthan any underlyin8 changes to services. Investment income of £3,221k and income from other source5 wa5 less than the amount required to fund the key pro8ramme5 of the Trust this year. We anticipated this when the budget was set. We sold some investments and used cash balances as planned to meet this shortfall. The excess of expenditure over income forthe year was £400k (2024: £316k). This yearfs accounts reflect a decrease in the value of investments of £1.998m, compared to a significant increase in value in the previous financial year £8.237m. The drops in value occurred in the final few months of the year and related to volatility on intemational markets. We continue to face inflationary pressure on our costs which will impact on our fundin8 requirements for 2025126 and future years. The trustees and staff of the trust work closely with the Trust's specialist advisers to assess investment value5 and expected income. The trustees remain confldent that we will have sufficient resources to meet spending requirements for the next 12 months. This will be met mainly from expected income, and cash balances. We also plan to disinvest from investment funds in order to smooth cash flow and allow for contingency. This will be undertaken in a planned way with our investment managers to minimise fSnanclal risk.
THE CECIL AND ALAN PILKINGfoN TRusf FUND Year ended 31 March 2025 Trustees Annual Report Investment pollcy and performance There are no restrictions on the Charitvs power to invest. The trustees have adopted a pollcy to achieve the optimum return from a broad spread of investments and have not imposed restrictions on the type of investments in the portfolio. The poliry is to adopt a medium/high risk Investment strategy based on income generation with potential for capital growth. Both of our investment managers have a clear focus on environmental, social and governance (ESGI considerations In managing the Trusys investments. The Trust relies on the services of our investment managers, CCLA and Sarasin & Partners, to manage the investments. The investment managers are set the objertive of achieving a total return of not le55 than CPI + 3.5% over a five- year period. The Trust engages an external monltoring company to report on performance. Net of fees the retums at 31 March 2025 were reported as follows:_ CCLA made a return of -2.04% in the year and 8.82% overthree years. Sarasin & Partners made a return of 2.17% in the year and 9.97% overthree years. The trustees work closely with the investment managers to identrfy and assess the risks to achieving the total returns targets set by trustees. The Trust'5 investment managers have expressed confidence that budgeted income distributions to the Trust will be achleved for the financial year to 31 March 2026. The trustees will continue to review performance through close working with specialist advlsers, information scrutinised by the Investment Committee and reportsfrom an extemal monitoring company. Rlsk management The trustees review the financial and operational risks to which the charity may be exposed and the systems put in place to mltigate those risks. The principal financial risk faced bythe Trust is the perfomiance of the investments to provide the funding for the services. This is mitigated by retaining expert investment managers, havlng diversified portfolio and monitorin8 the performance through the Investment Committee. Work is ongoing to assess the continuing impart of inflation on our beneficiaries and the grants and services we provide. To mrtigate against the risk of rising costs, the frust has a robust budget- setting and monitorin8 process and staff liaise closely with our main suppliers to identify cost pressures as early as possible.
THE CECIL AND ALAN PILKINGTON TRUST FUND Year ended 31 March 2025 Trustees Annual Report Reserves policy As an endowed charity it 15 acknowledged by the trustees that the Trust Deed allows the expenditure of both capital and income to meet the charitable objectives. The trustees consider it important to seek to maintain the caprEal value of the endowment funds to generate revenue retums that will largely fund the community care programme. An exercise has taken place to determine the level of unrestrirted income funds so that they can be shown separately in the Statement of Financial Activities. As part of this exercise capital growth return5 relating to invested unrestritted funds have been allocated to unrestritted income funds. The Trusvs unrestricted funds at 31 March 2025 were £11.808m12024 £12.398ml. Ofthis amount £582k could only be realised by disposing of tangible fjxed assets used to advance the Trust's objertives. At present unrestricted income reserves are supporting expendrture on beneficiaries in excess of the investment income received. The trustees Intend to review their reserves policy in relation to the amount of unrestrirted funds required to be held taking account of investment returns, cashflow requirements, risk management and funding expenditure to support beneficiaries. In doing so they intend to take account of a reducing number of beneficiaries with greater needs arising as those beneficiaries live longer. This will form part of renewing the Trusvs longer term strategic objectives referred to earlier in this report. The Trust's expendable endowment fund was £91.476m as at 31 March 202512024: £93.282m). This is held to produce an income for the Trust which is unrestricted. The Trust also had restricted funds of £9k as at 31 March 2025 (2024: £llkl. Plans for the future The trustees are working with the Chief Executive OFficer and the senior management team to refresh the strategic plan to ensure that we continue to identify the needs of our beneficiaries and target resources and SeIce5 appropriately. We are reviewlng the services we provide under our welfare programme and at Ruskin Lodge to assess how the care we offer best meets the needs of our beneficiaries and 'guestS going forward. We intend to continue to take advantages of the improvement5 made possible by advances in information technology. We will focus on developingthe skllls of ourworkforce to provide more specialist 5UPPOrt and care to service users and their carers. We will continue to look for opportunities to develop our services and co-design with service users, third settor agencles and our health partners. We are currentlywartin8 on a planning decision concerningthe construction of a new day centre on the site of the old pensioners club. We hope for approval and construction to commence In the year to 31 March 2026.
THE CECIL AND ALAN PIiKINGTON TRUST FUND Year ended 31 March 2025 Trustee5 Annual Report Trustee responsiblllties In relation to the financial statements The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prattice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity 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 in the Charities SORP; make judgements and estimates that are reasonable and prudent: and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The trustees are responsible for keeping proper accountin8 records that disclose with reasonable accuracy at any time the financial position of the Charty and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charities (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. In so far as the trustees are aware at the time of approving the Trustees, Annual Report: there is no relevant audit information of which the Charf(fs auditor is unaware, and the trustees have taken all steps that they oughtto have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. This report was approved bythe trustees on 26 June 2025. Signed on behalf of the trustees D J Bricknell io
THE CECIL AND ALAN PILKINGTON TRUST FUND Year ended 31 Marth 2025 Independent Auditors, Report to the Trustees of The Cecil and Alan Pllklngton Trust Fund Opinlon We have audited the finanaal statements of The Cecil and Alan Pilkington Trust Fund lthe'charitVI for the year ended 31 Marth 2025 whith comprise of the Statement of Financial Artivlties, the Balan Sheet, the Cash Flow Statement and notes to the financial statements, induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5, including Finanaal Reporting Standard 102 The Financial Reporting Standard opplicoble in the UKondRepublic of Irelt7nd{United ingdOM GenerallyAccepted Accounting Prartice). In our opinion the financral statements: ve a true and fair vtew of the state of the charitys affairs as at 31 March 2025, and of its incoming reSoUrS and application of reSoUrs. induding its income and expenditure, for the yearthen ended; have been Proper prepared in accordance with United lfjngdom Generally Accepted Accounting Practice. and have been prepared in accordan with the requirements of the Charities Att 2011. Basis for opinion We conducted our audtt in accordan wrth Intemational Standards on Auditing IUKI IISAS IUKI} and applicable law. Our responsibilities underthose standards are further described in the auditorfs responsibilities for the audit of the financial statements settion of our report. We are independent of the charlty in accordance with the ethical requirements that are relevant to our audit of the financial Statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilrties in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficlent and appropriate to provide a basis for our opinion. Condusions relatingto goi concem In audvting the financial statements. we have concluded that the trustee use of the going concem basis of accounting in the preparation of the finanaal statements is appropriate. Based on the work we have performed. we have not identrfied any material uncertainties relating to events or conditlons that, individually or collertivety, may cast signtficant doubt on the charty's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respett to going conrn are described In the relevant sertions of this reporL Other Informatlon The other infomiation comprises the information induded in the trustees, port and accounts, other than the financial statements and our audttorfs report thereon. The trustees are responsible for the other information. Our opinion on the finanual statements does not cover the other infomiation and we do not express ar7y fomi of assurance conclusion thereon. Our responsibilty is to read the other infonnation and, in doing so, consider whetherthe other Information is materially inconsistent wth the financial statements or our knowledge obtained in the course of the audit or Othe[se appearsto be Material mi55tated. ff we identtfy such material incon5i5tencies or apparent material misstatements, we are qUired to determine whether this &rives rise to a material misstatement in the finanaal ststements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infornation, we are required to report that facL We have nothingto report in thls regard.
THE CECIL AND ALAN PILKINGTON TRUST FUND Year ended 31 March 2025 Independent Auditorg Report to the Trustees of The Cecil and Alan Pllklngton Trust Fund Matters on whith we are required to report by exception We have nothlngto report in respect of the following matters in latiOn to which the Charities (Accounts and Reports) Regulations 2CK)8 require us to report to you If, in our opinion: the information given in the trusteeg report is inconsistent in any material respert wlth the financial statements. or suffiuent accounting records have not been kept: or the finanaal statements are not in agreement wth the accounting records; or we have not recelved all the infonnation and explanations we require for our audit. Responsibllftles of trustees As explained more fully in the trustee responsibilities statement set otrt on page 10, the trustees a responsible for the preparation of the finanaal statements and for being satisfied that they give a true and fair wew, and for such intemal control as the trustees detern)ine is necessary to enable the preparation of financial statements that are free from material mi55tatement, whether due to fraud or error. In preparing the finanaal statements, the trustees are responsible for assessingthe charitVs abilityto continue as a going conM, disclosin& as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquldate the charity orto cease operations. or have no realistic altematrve but to do so. Audltorfs responslbilities for the audit of the finandal statements Our objertives are to obtain reasonable assuran about whetherthe finanaal statement5 as a whole are free from material misstatement, whether due to fraud or error. and to issue an Auditorfs port that indudes our opinion. Reasonable assuran is a high level of assuran but is not a guarantee that an audit condutted in accordan wth ISAS (UK) V[1 ahvays detect a material mi55tatement when it exists. Misstatements can arise from fraud or error and are considered material if, indniidually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregulaiities, including fraud, are instance5 of non-compliance with laws and regulations. We de51 procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregulartties, induding fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below- Discusslon with management and those involved in the financial reporting process Induding consideration of known or suspected instances of non•compliance with laws and regulations central to the charity's abilty to operate, and fraud.. Evaluation and testing of the operating effectiveness of management's controls desi8ned to prevent and detect irregularities; Identifying and testing journal entries, in partiojlar any joumal entries posted wf(h unusual account combinations or of signtficant monetary amounts; and Review of the rdtionale for the calculation of key accounting estimates in the financial statements and testing of the accuracy of these calculations. There are inherent limitations in the audrt proodures described above. The further removed non- compliance wtth law5 and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud 15 higher than the risk of not detecting one resuking from error, as fraud may involve deliberate concealment by. for example, forgery or intentional misrepresentstn$, or throu8h collusion. 12
THE CEaL AND ALAN PILKINGTON TRusf FUND Year ended 31 March 2025 Independent Audltors, Report to the Trustees of The Cecll and Alan Pllkington Trust Fund A further description of our responsibilities is available on the Financial Reporting Counctl's website at: www.frc.or auditorsres onsibilities. This description fomis part of our Audrtorfs report. Use of our report This report is made solely to the tharitys trustees, as a body, in accordan with Part 4 of the Charrties IAccounts and Reports) Regulations 2CX)8. Our audit work has been undertaken so that we might State to the charws trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibllltyto anyone other than the charity and the chartVs trustees as a body, for our audit wort forthis report, orfor the opinions we have fomied. Livesey Spottiswood limited (Stat ory Auditor) Chartered Accountsnts and Statutory Audttors 17 George Street, St Helens. Mer5eyside WAIO IDB Date: Livesey Spottiswood Llmited ts eli8ible to act as a audttor in temis of sectM)n 1212 of the Companies Art 2006. 13
THE CECILAND ALAN PILKINGTON TRUST FUND Statement of financial activitles for the year ended 31 March 2025 Note unstrOrted Restrirted Endowment Funds Funds Funds 2025 £'ooo £'ooo £'ooo Total Total 2024 £'ooo Income and endowments Donations, legacie5 and grants Charitoble t7ctivities." UK benefits and services Ruskin Lodge respite care Other Investments Total income 70 16 86 104 169 io 3.221 3.574 104 169 io 3,221 3,590 102 3,162 3,631 16 Expendlture on raising funds Investment management costs Expendlture on charitable actlvitles U K benefits and services Ruskin Lodge respite care Overseas benefits and services 2,094 1,641 2,095 1,653 2,130 1.518 205 210 222 Donation to Willowbrook Total expenditure Net expenditure before gains and losses on investments Net IIos5esl/galns on investments 30 3,972 30 3,990 75 3,947 18 1398) {2) 14CM)1 13161 (192) 11,806) 11,9981 8,237 Net movement in funds (590) (1,806) (2A98) 7,921 Recon¢lliation of funds: Total funds brought forward Total funds carrled foThvard 12.398 li 93,282 105,691 97,770 91,476 103.293 105,691 11,808 The notes on page 17-26 form part of these financial statements 14
THE CECIL AND ALAN PILKINGTON TRUST FUND Balan Sheet as at 31 March 2025 2025 2024 as restated £'ooo Note Flxed assets Tangible fixed assets Investments 590 667 101,739 104,237 102,329 104,904 Current assets Debtors Cash and bank deposits io 128 978 1,106 95 846 941 Creditors amounts falling due within one year Net current assets li 135 121 971 820 Provision for liabilities 12 33 Net assets 103,293 105 691 Fund balances Unrestricted funds Restricted funds Expendable Endowment fvnd Total charity funds 11,808 12,398 li 91,476 93,282 103 293 105,691 13 14 The note5 on page 17-26 fomi part of these financial staternents The above accounts were approved by the trustees on 26 June 2025 and were signed on thelr behalf by: D J Bricknell (Dire or of Trustee Companies) J McKenna (Director of Trustee Companies) 15
THE CECIL AND ALAN PILKINGTON TRUST FUND Statement of cash flows for the year ended 31 March 2025 2025 £'ooo 2024 £'ooo Cash flows fron7 operating artivities Net cash used in operatlnq artivltles.. 13,586 13,360) Cash flows from investing actmtles Dlstributions and interest from investments Proceeds from the sale of equipment, furniture and vehicles Purchase of equipment, fumiture and vehicles Proceeds from sale of investments Purchase of investments Net Cash provided by inve5tlng ortlvitles 3,221 3,162 12 1161 181 1631 3.095 3,718 Change in cash and cash equivalents In the year 132 {2651 Cash and cash equivalents at the beginning of the year Cash and Cash equlwdlents at the end ol the year 846 978 I,iii Reconciliatlon of net Income/{expendlture) to net cash flow from operatlng artlvlties Net lexpenditure)/income for the year Adjustments for: Depreciation charges Los5es/ Igainsl on investments Distributions and Interest from investments Profit on sale of fixed assets {Increasel/decrease in debtors {Decreasel/ increase in creditors Net cash used In operatlng artlvltles 12,398) 7,921 81 85 1,998 {8,2371 {3.221) 13,1621 iii 121 133) 24 112) li {3,5861 13,3601 Analysls of cash and cash equlvalents as at 31 March Cash at bank and in hand Deposits held by investment managers Total cash and cash equlvalents 535 443 978 324 522 846 The notes on page 17-26 form part of these financial statements 16
THE CECIL AND ALAN PILKINGTON TRUST FUND Notes to the flnanaal statements for the year ended 31 March 2025 l. Accounting pollcles Basls of preparatlon and assessment of going concern The flnancial statements have been prepared under the historical cost convention with items recognised at cost or transartion value unless otherwise stated in the relevant notels) to these accounts. The financial statements have been prepared in accordance with the Charities Statement of Recommended Practlce Issued in Ortober 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The trustees consider that there are no material uncertaintie5 about the Trusvs abllity to continue as a golng concern. The trust constFtutes a public benefit entity as defined by FRS 102. Funds structure The expendable endowment fund may be spent in accordance with the charttable objectives at the discretion of the trustee5. Restricted Funds arise from specific grants for individual projects or assets and must be used for the restricted charitable purpose. Unrestricted income funds comprise those funds whlch the trustees are free to use for any purpose In furtherance of the charitsble objects. Income re¢ognltlon All income is recognised in the statement of financial activities once the charity has entitlement to the funds. it is probable that the income will be received and the arnount of income receivable can be measured rellablv. Grants are recognised in full in the statement of financial artivlties in the year in which they are receivable. Expendlture recognltlon Liabilitles are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliably. The cost of discretionary grants is recognised when the commitment has been approved. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings on the most appropriate basis. Irrecoverable VAT Irrecoverable VAT is charged against the expenditure heading for which It was incurred. Allocatlon of 5UPPOrt and govemance costs Support cost5 have been allocated between govemance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees togetherwith an apportionment ofoverhead and support costs. Governance costs and support costs relating to charitable activities have been apportioned by reference to the activities generating those costs. The allocation of support costs is shown in note 5. Tanglble fixed assets and depre¢lation Fixed assets are depreciated over their estimated useful economlc live5 on a stralght line basis as follows: Leasehold land and buildlngs Motor vehicles Furniture, fitting5 and other equipment between 10 and 50 years between 5 and 8 years between 3 and 25 years 17
THE CECILANDALAN PILKINGTON TRusf FUND Notes to the flnancial statements for the year ended 31 Marth 2025 l. Accountlng policie5 contlnued Investments Investments are a form of basic financial instrument and are initially recognised at their transartion value and subsequently measured at their fair value as at the balance sheet date using the c105in8 quoted market price. All gains and losses are tsken to the Statement of Financial Activities as they arise. Reallsed gains and losses on inve5trnents are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. The main form of financial rlsk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk. and changes in sentiment concerning equities and within particular sectors or sub sectors. Debtors/Credltors Debtors and creditors are included in the financial statements at transaction value. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant rlsk of change in value. Pensions The Trust participates in both a defined benefits scheme and defined contribution pension schemes. The defined benefit scheme is a multi-employer scheme known as the Pilkington Superannuation Scheme IPSSI. It has not been posslble to identify the underlying assets and liabilities attributsble to each participating entity. All pension contributions paid in the year are charged to the ststement of financial activities on a defined contribution basis. Leasing commltments Rentals paid under operating leases are charged to the statement of financial activities as incurred. Judgements and key Sour of estimatlon uneertainty In the application of the charitys accounting policie5, trustees are required to make judgements, estimates and assumptions about the application of accounting policies and reported amounts of assets. liabilities, income and expenses. The judgements. estimates and underlying assumptions are based on historical experience and other factors that are considered relevant including expectations of future events that are considered reasonable. The judgements, estimates and Undering assumptions are reviewed on an ongoing basls however actual results may differ from these amounts. In preparing these financial Statements no Significant judgments have been made. The key source of estimation uncertainty relates to the allocation of Governance and support costs in notes 4 and 5. 18
THE CECILAND ALAN PILKINGTON TRUST FUND Notes to the finandal Statements for the year ended 31 March 2025 2. Donations, legacies and grants 2025 £'ooo 2024 £'ooo General grnnts." Pilkington Charitles Fund Restrfrted grants.. Rainford Trust Other restricted donations Other donations 70 70 li 86 3. Investment income 2025 2024 £,0) 3,132 25 Income from Investments Ilsted on a recognised stock exchange Interest on cash held by Investment managers Bank interest 3,191 24 3,221 3,162 4. Resources expended Dlrect costs Allocated support Costs Total 2025 Totsl 2024 £'ooo £'ooo C05t of generatlngfvnds Investment management costs Charltable artlvltles UK benefits & servlces Ruskin Lodge respite care Overseas benefits & seNices Donation to Willowbrook Hospice 1,503 1.431 173 30 3,139 592 222 37 2.095 1.653 210 30 3,990 2,130 1,518 222 75 3,947 851 Direct costs include: The external audit fee of £10,395 {2024: £9,900). Operatlng lease cost5 in respect of land and buildings of £132,99212024: £118,239) 5. Support costs UK beneffts & Ruskin Lodge Overseas Serv1 resplte care benefrts & services Totsl 2025 Totsl 2024 £'ooo £'ooo £'ooo Governance Corporate Finance Human resources Community care admlni5tration 329 14 Total 592 222 37 Support costs have been allocated to actiwties on the basis deemed most appropriate. 76 36 38 36 47 87 13 13 li 127 85 152 144 125 86 57 155 343 851 301 798 19
THE CECIL AND ALAN PILKINGfoN TRusf FUND Notes to the flnanclal statements for the year ended 31 March 2025 6. Expendlture on UK beneffts and service5 Unrestrlrted Restrlrted Totsl 2025 £'ooo Total 2024 £'ooo Services provided: Personal care and sitting service Dementia support Domestic assistance Home meals and laundry Gardening and security Hairdressing Day centre servlces Visiting Active leisure/contact groups Prism/calendar Total servlces provided 197 197 176 41 561 151 li 51 561 151 li 51 496 155 li 51 130 397 55 42 1,563 384 50 50 1.490 1,491 Grants to Indlvlduals: Hairdressing Domestic assistance Gardening Discretionary grants Total grants to Indivlduals Numberof grants 57 109 li li 12 12 12 22 Gifts/ Christmas provisions Total dlrect costs 1.502 1,503 1,586 Community care administratlOD and support costs Total spend on UK benefits and services 592 2,095 544 2,130 20
THE CECIL AND ALAN PILKINGTON TRU5f FUND Notes to the flnandal statements for the year ended 31 March 2025 7. Trustees and staff costs Trustees Member5 of the Board of the Trustee companies do not receive any remuneration for their services. £210 expenses were reimbursed during the year to 31 March 2025 {2024'. £94). Staff numbers The average number of employees during the yearwas 6712024: 69). The average numbers of employee5 on a full time equivalent basis was: 2025 47 2024 45 Charitsble Management and Administration 52 51 Staff costs 2025 2024 £'ooo 1.673 143 235 Wages and salaries Social Security costs Pension contributions 1,686 154 192 2,032 The total employment benefit5. including employer pension contrtbutions of the key management personnel was £342,71712024: £333,505). The number of employees whose emoluments (salaries and benefits in kindl fell within the following band.. 2025 2024 £60,000 - £69.999 £70,000 - £79,999 £90.000 - £99,999 Terminatlon payments of £8,620 were paid during the year. This includes £5,512 ex gratia payments. Penslon schemes The Trust participates In both a defined benefits scheme and defined contribution pension schemes. The defined benefit scheme 15 a multi*mployerscheme known as the Pilkington Superannuation Scheme IPSS). It has not been possible to identify the underlying assets and liabilities attributable to each participatlng entity. Under the trust deed Eoverning the PSS, the employerf5 contributions are fixed at 16% of pensionable salary (fixed at 30 April 20131 for active mernbers who contribute 8%, and 12.5% for members contributing 5.5%. Under the deed, the employer has no right of access to any investment surpluse5 bLFt equally cannot be required to increase contributions to finance any deficits other than as may be required by legislation. All pension costs of the charity in relation to this scheme are reported on a defined contribution basis. The Pilkington Superannuation Scheme is closed to new members. An auto enrolment scheme has been In place since July 2014 and a defined contribution scheme with Avlva is offered to all employees. 21
THE CECIL AND ALAN PILKINGTON TRUST FUND Notes to the financlal statement5 for the year ended 31 Marth 2025 8. Tan8ible flxed a55ets Leasehold land & buildings Motor vehlcles Furnlture ffttings & equipment £'ooo Total Assets at cost Balance l April 2024 Additions Disposals Balance 31 March 2025 Depreclatlon Balance l April 2024 Charge for the year Disposals Balance 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 257 381 2,438 iioi 247 iioi 2,436 1,81K) 389 1,320 33 130 28 321 20 1,771 81 1,353 152 341 1,846 447 480 95 127 590 667 9. Fixed asset Investments Totsl £'ooo 104,237 Market value 01 April 2024 las restated- see note 181 Additions at cost Disposals 5001 103,737 Net losses on investments Market value 31 March 2025 101,739 At 31 March 2025. the Trust was invested in two managed funds, each wlth a diversified portfolio of investment5. 10. Debtors 2025 £'ooo 17 14 97 128 2024 £'ooo 17 14 Pilkington Charities Fund Local Government Other debtors 95 22
THE CECILAND ALAN PILKINGfoN TRUST FUND Notes to the financlal statements for the year ended 31 March 2025 11. Credltors . amounts falling due within one year 2025 £'ooo 74 24 34 2024 £'ooo 43 42 33 Trade Creditors Accruals and Deferred income Taxation and Social Security Other creditors 135 121 12. Provlslon for Ilabilities Balan 31 March 2024 Released In Balance 31 March 2025 year Cumulative leave provislon Refurbishment costs 20 -20 33 -26 The cumulative leave provision is for holiday pay accrued by eligible staff based on pay rates at the balance sheet date. 13. Restrlcted funds The funds of the charity include donations and grants which need to be used for specific purposes and are classified as restricted fvnds, At the year*nd restrirted funds comprise unspent balances as follows: Balante 31 March 2024 Income Expenditure Balance gains/llossesl 31 March & transfers 2025 £'ooo £'ooo Pensioners Club Minibus South Africa Ruskin Lodge - IT Otherfunds 151 iioi iii 1181 io li 16 14. Expendable endowment funds The funds of the charity Include expendable endowments. At the year-end they comprise unspent balances as follows: Balance 31 March 2024 Income Expendlture Balance galnslllosses) 31 March & transfers 2025 £'ooo £'o( 11,8061 91,476 11,8061 91,476 £'ooo Expendable endowment 93.282 93.282 23
THE CECILAND ALAN PILKINGTON TRUST FUND Notes to the flnanclal 5tstements for the year ended 31 March 2025 IS. Anatysls of net assets between funds Current year Tangible fixed Investments Net Current assets Assets Long term Total net Total net assets assets 2025 £'ooo 2024 £'ooo £x)00 Unrestritted funds General funds 582 10,263 970 17} 11,808 12,398 Restricted funds Pensioners Club Minibus Other funds Endowment funds Endowment 91.476 91,476 93,282 590 101,739 971 103 293 105,691 Prior year comparatlve Tangible fixed Investments Net Current assets Assets as restated Long temi Total net Total net assets assets 2023 £'ooo as restated 2024 Unrestrlcted funds General funds 657 10,955 819 133} 12.398 11,820 Restrirted funds Pensioners Club Minibus Otherfunds 12 Endowmentfunds Endowment 93.282 93,282 85,936 667 104.237 820 33 105,691 24
THE CECILAND ALAN PILKINGTON TRusf FUND Notes to the financial statements for the year ended 31 March 2025 16. Related partles The Cecil & Alan Pilkington Trust Fund uses Pilkington Retirement Services Limited a5 an employment vehicle for 6412024.. 711 contracts of employment at the Balance Sheet date. All associated Salary costs are borne exclusively by the Cecil & Alan Pilkington Trust Fund. During the year the Trust did not pay any trustee for services {2024: none). The Trust recelved a grant of £5,(KK)12024: £5.0) and £3.95912024: £3.7501 for accountancy seNices from The Rainford Trust, a registered charity with common trustees. The Trust received £75012024: £7501 for accountancy services from The St Helens Housing Association Trust. a registered charity with a common trustee. The Trust made pension contributions for Ioemployees durfng the yearto the scheme known as the Pilkington Superannuation Scheme IPSSI which ha5 a common trustee. 17. Operating lease commitments At 31 March 2025 the charity had total minimum operating lease payments a5 set out below: Land and buildings:. 2025 2024 £'o Operating lease payrnents due: within one year. between one and five years 134 69 203 133 203 336 18. Prlor year restatement The prior year figures have been restated to reflect the cash balances held by the investment fund managers as cash at bank rather than fixed asset investments. The trustees believe that this better reflects the liquid nature ofthose amounts. The efFect of the adjustment was to reduce fixed a55et investments by £522k and increase cash and bank deposits by that same amount. 25
THE CECILAND ALAN PILKINGTON TRusf FUND Notes to the flnancial ststements for the year ended 31 March 2025 19. Prlor year Statement of flnanclal artivities for the year ended 31 March 2024 Nots Unrestricted Restrirted Endowment Total Funds Funds Funds 2024 £'OQD £'ooo £'ooo Totsl 2023 Income and endowments Donations, legacies and grants 71 77 76 Charituble activities.. UK benefits and services Ruskin Lodge resptte care Other Investments Total income 102 284 102 284 ioi 284 3,162 3.625 3,162 3,631 3,105 3,569 Expenditure on rdlslng funds Investment management costs Expendlture on charftsble activlties UK benefits and seNices Ruskin Lodge respite care 2.127 1,517 2,130 1,518 1,959 1,305 Overseas benefits and seryices 217 222 205 Donation to Willowbrook Total expendlture Net incomellexpenditurel before gains and losse5 on investments Net gains/llossesl on investments 75 3.938 75 3,947 75 3,546 (313} {3} 13161 23 891 7,346 8,237 14,8831 Net movement in funds 578 (3) 7346 7,921 14,860} ReconclllatEon of funds: Total fund5 brought forward Total funds orrled forward 11,820 14 li 85,936 97,770 102,630 93,282 105,691 97 770 26