## **THE DAVID PICKFORD CHARITABLE FOUNDATION** **ANNUAL REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 5 APRIL 2022** **CHARITY NUMBER 243437** ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees’ Report|1- 2| |Independent Examiner’s Report|3| |Statement of Financial Activities|4 - 5| |Balance Sheet|6| |Notes to the Accounts|7 - 12| ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **TRUSTEES AND ADVISERS** **----- Start of picture text -----**
Trustees Mrs E J Pettersen
Mrs P Blackwell
Charity number 243437
Independent Examiner M. Wilkes FCA
Azets Audit Services
5th Floor
Ashford Commercial Quarter
1 Dover Place
Ashford, Kent
TN23 1FB
Principal bankers National Westminster Bank Plc
1 Princes Street
London
EC2R 9PA
Investment Advisers Brewin Dolphin
12 Smithfield Street
London
EC1A 9BD
Registered Office Benover House
Rectory Lane
Saltwood
Hythe
Kent
CT21 4QA
**----- End of picture text -----**
## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **REPORT OF THE TRUSTEES** _**FOR THE YEAR ENDED 5 APRIL 2022**_ The Trustees present their report and financial statements of the charity for the year ended 5 April 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK published on 16 July 2014 as amended by Bulletin 1. ## **Objects** The objectives of the foundation are set out in Clause 2 of the Deed which states that the Trustees shall hold the trust fund and the income thereof to pay or apply the annual income of any part of the capital of the trust fund to, or for, such charitable institution, or institutions, or other charitable objects, or objects as the Trustees shall from time to time at their discretion select. ## **a) Investments** There are no restrictions, the declaration of trust provides the Trustee with the widest powers of investing, disposing of and dealing with the trust fund which are lawfully capable of being conferred on Trustees. ## **b) Expenditure** The whole of sums expended, whether income or capital, shall be applied for purposes coming within the legal definition of charitable purpose. ## **Public benefit statement** The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the trust’s aims and objectives and in planning future activities. ## **Review of the year** Income for the year totalled £7,663 (2021: £7,073). The assets held in The Pickford Trust were transferred to the charity upon closure of the Pickford Trust. This resulted in a one-off donation of £846,768 Expenditure amounted to £69,324 (2021: £66,756) of which £52,600 (2021: £51,600) was distributed to charitable organisations within the objects of the Trust Deed. The key areas for focus for donations were support for vulnerable people in the UK; support for evangelistic work, with particular focus on work with children and young people; support for international projects; support for the development of Christian leadership; support for those who have been badly affected by the impact of COVID and support fot the relief of those in Ukraine. The result for the year, before the gains on investments was a surplus of £785,107 (2021: £59,683). The result after gains on investment was a surplus of £828,696 (2021: £190,846). The charity had funds at 5 April 2022 totalling £1,876,491 (2021: £1,048,795). The market value of the investments at the end of the year was £1,796,452 (2021: £1,025,074) compared with the cost of £1,710,685 (2021: £868,518). The market value of the investments at 5 April 2022 was above the original cost. In addition to the charity's portfolio of investments the charity held cash to be invested amounting to £72,500 (2021: £8,596). ## **Policy to risk** The Trustees are aware of the risk factors of the Foundation and every precaution is taken to ensure all legal obligations are adhered to. The Trustees attempt to avoid financial risk as far as possible by investing in shares on a low risk basis. As the charity's sole source of income is through its investment portfolio, this represents the major risk. Whilst the current state of the stock market has meant some shares have fallen in value, it is anticipated in due couse these values will recover. - 1 - **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **REPORT OF THE TRUSTEES (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **Reserves** The Trustees aim to spend at least the income received in the year before taking account of investment gains and losses. The Trustees would anticipate holding unrestricted reserves equivalent to one year's average annual expenditure which currently amounts to £70,000 (2021: £67,000), though this varies due to the number of requests received. Unrestricted funds at 5 April 2022 amount to £8,539 (2021: £15,125). The Trustees will review the policy on an annual basis. Designated funds at 5 April 2022 amounted to £1,256,951 (2021: £434,669) and details can be found in note 10 Endowment funds at 5 April 2022 amounted to £849,289 (2021: £612,001) and details can be found in note 11. ## **Plans for the future** The Trustees intend to review the requests that are made to the charity with the expectation that donations will be in line with themes for 2021/22. ## **Structure** The charity, which is registered with the Charity Commission under number 243437, is established under a Trust Deed dated 2 April 1965. ## **Governance and management** The Trustees of The David Pickford Charitable Foundation are responsible for the general control and management of the administration of the charity. The Trustees who have served during the year were as follows: Mrs E J Pettersen Mr C J Pickford (resigned 23 December 2022) Mrs P Blackwell (appointed 23 December 2022) ## **Trustees' responsibilities** 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 Practice). The law applicable to charities in England & 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 2015 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. By order of the Trustees ………………………. **Mrs E J Pettersen Date: 26 January 2023** - 2 - ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF** ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022 which are set out on pages 4 to 12. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 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: - ­ accounting records were not kept in respect of the charity as required by section 130 of the Act; or - ­ the accounts do not accord with those records; or - ­ the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. _……………………………………………._ M. Wilkes FCA For and on behalf of Azets Audit Services 5th Floor Ashford Commercial Quarter 1 Dover Place Ashford, Kent TN23 1FB Date: 30 January 2023 - 3 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ |**Notes**
**Income from:**
Investment income
**2**
Assets gifted from The Pickford Trust
**13**
Other income
**Total income**
**Expenditure on:**
Donations payable
**4**
Independent examiner's fee
Investment manager's fee
**Total expenditure**
**Net income/(expenditure) before gains**
**on investments**
Gains on investments
**6**
**Net movement in funds**
Reconciliation of funds:
**Funds brought forward at 5 April 2021**
**Funds carried forward at 5 April 2022**|**2021**
**Unrestricted**
**Endowment**
**Total**
**Total**
**£**
**£**
**£**
**£**
7,663 - 7,663 7,070
609,480 237,288 846,768 -
- - - 3
617,143 237,288 854,431 7,073
52,600 - 52,600 51,600
2,745 - 2,745 2,510
13,979 - 13,979 12,646
69,324 - 69,324 66,756
547,819 237,288 785,107 (59,683)
43,589 - 43,589 250,529
591,408 237,288 828,696 190,846
436,794 612,001 1,048,795 857,949
1,028,202 849,289 1,877,491 1,048,795
**2022**| |---|---| All income and expenditure derive from continuing activities. - 4 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ |**Comparative information only**
**Notes**
**Income from:**
Investment income
**2**
Other Income
**Total income**
**Expenditure on:**
Donations payable
**4**
Independent examiner's fee
Investment manager's fee
**Total expenditure**
**Net expenditure before losses on investments**
Gains on investments
**6**
**Net movement in funds**
Reconciliation of funds:
**Funds brought forward at 5 April 2020**
**Funds carried forward at 5 April 2021**|**2021**
**Unrestricted**
**Endowment**
**Total**
**£**
**£**
**£**
7,070 - 7,070
3
3
7,073 - 7,073
51,600 - 51,600
2,510 - 2,510
12,646 - 12,646
66,756 - 66,756
(59,683) - (59,683)
250,529 - 250,529
190,846 - 190,846
245,948 612,001 857,949
436,794 612,001 1,048,795| |---|---| All income and expenditure derive from continuing activities. - 5 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 5 APRIL 2022**_ |**Notes**
**6**
**8**
Debtors
**7**
**Creditors: Amounts falling due within one year**
Accruals
**9**
**Funds**
**10**
**11**
**12**
Endowment fund
Cash investments
**Current Assets**
Cash at bank
**Net current assets**
**Net assets**
Unrestricted funds
General funds
Designated fund
**Fixed assets**
Listed investments|**£**
**£**
**£**
1,796,452
72,500
1,868,952
759
-
17,390
19,511
18,149
19,511
(9,610)
(4,386)
8,539
**1,877,491**
8,539
1,019,663
849,289
**1,877,491**
**2022**|**£**
1,025,074
8,596
1,033,670
15,125
**1,048,795**
15,125
421,669
612,001
**1,048,795**
**2021**| |---|---|---| The financial statements were approved and authorised for issue by the Board on 26 January 2023. Signed on behalf of the board of Trustees ……………………………………….. ## **Mrs E J Pettersen** - 6 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **1. Accounting Policies** ## **1.1 Accounting convention** The David Pickford Charitable Foundation is a registered charity with the Charity Commission in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out in Clause 2 of the Deed which states that the Trustees shall hold the trust fund and the income thereof to pay or apply the annual income of any part of the capital of the trust fund to, or for, such charitable institution, or institutions, or other charitable objects, or objects as the trustees shall from time to time at their discretion select. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014 as amended by Bulletin 1, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **1.2 Funds accounting** Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objectives. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose. Endowment fund represents investments mentioned in the Scheme as ‘The Trust Fund’. Any appreciation arising from this sum can be shown as part of unrestricted funds. ## **1.3 Income** All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. - Investment income is included when receivable. - 7 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **NOTES TO THE ACCOUNTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **1. Accounting Policies** ## **1.4 Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. - The charity has or may make charitable donations or grants in the form of specific donations to local, national or international charitable causes. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. ## **1.5 Investments** Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. ## **1.6 Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **1.7 Tax** The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. ## **1.8 Going concern** The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The Foundation donates cash available in its bank account throughout the year. The cash available is generated from the investment portfolio via dividends & interest net of management fees. The Foundation has no formal commitments as regards its donations. ## **1.9 Judgements and key sources of estimation uncertainty** Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no judgements or key sources of estimation uncertainty. - 8 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ |**2**
**Investment income**
Dividend income|**2022**
**£**
7,663
7,663|**2021**
**£**
7,070
7,070| |---|---|---| ## **3 Permanent endowment invested on a total return basis** The charity has been granted the investment power of total return. This power permits the Trustees to invest permanently endowed funds to maximise total return and therefore to apply an appropriate portion of the unapplied total return to income. The unapplied total return remains invested as part of the permanent endowment until that power is exercised. When exercised it allows the Trustees to apply an appropriate portion of the unapplied total return to income each year. |**Endowment**
**for investment**
**Unapplied**
**Total Return**
**£**
**£**
At 6 April 2021
612,001
-
Unapplied total return
-
421,669
612,001
421,669
Movements
Dividend return
-
7,663
Investment management costs
-
(13,979)
Assets gifted from The Pickford Trust
237,288
609,480
Gains/Losses
-
43,589
237,288
646,753
Unapplied total return allocated to income
-
(48,759)
Net movement in the year
237,288
597,994
At 5 April 2022
849,289
1,019,663
**2022**
**£**
52,600
**Charity No**
**2022**
**£**
Brighter Future International Trust
1110823
12,000
Family Trust
1162296
750
Folkestone Rainbow Centre
1096570
2,000
Graham Nunn
226226
-
YWAM
2,000
Compassion UK
1077216
-
Kenward Trust
1146481
1,000
Love Light Romania
1117981
-
Prison Fellowship
279446
1,000
Salvation Army
-
-
St Peter & St Paul, Saltwood
-
750
Shelterbox
1096479
1,000
The Langley House Trust
1146304
1,000
Nehemiah Project
1058536
1,000
Innovista
1108679
6,500
Intl mission for the Jews
271323
1,000
Scripture Union
213422
-
Carried forward
30,000
**Charitable donations**|**Total**
**endowment**
**£**
612,001
421,669
1,033,670
7,663
(13,979)
846,768
43,589
884,041
(48,759)
835,282
1,868,952
**2021**
**£**
51,600
**2021**
**£**
12,000
-
2,000
1,000
5,000
1,000
1,000
4,000
1,000
2,000
500
-
1,000
1,000
1,000
-
1,000
33,500| |---|---| - **4 Charitable donations** - 9 - **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **NOTES TO THE ACCOUNTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **4 Charitable donations - continued** |**Charity No**
Brought forward
CARE
1066963
CWI
Christians in Entertainment
801327
Sportsreach
1065723
Leprosy Mission
1050327
Philo Trust
285762
Porchlight
267116
Off the Fence
1108777
Mildmay
292058
Tearfund
265464
Toilet Twinning
265464
Alpha UK
1086179
Jews for Jesus
1110425
Mercy Ships
1053055
Youth for Christ
263446|**2022**
**£**
30,000
5,000
-
-
-
6,000
5,000
1,000
1,000
-
-
600
1,000
1,000
1,000
1,000
52,600|**2021**
**£**
33,500
5,000
500
1,000
1,000
1,000
5,000
1,000
1,000
1,000
1,000
600
-
-
-
-
51,600| |---|---|---| In addition to the above donations, a further offer, amounting to £15,000 has been made to Brighter Future. However this offer has not been formally accepted by the charity and therefore is not a binding commitment at 5 April 2022. |**Reconciliation of grants payable**
Commitments at 6 April 2021
Commitments made in the year
Grants paid during the year
Commitments at 5 April 2022
Commitments at 5 April 2022 are payable as follows
Within one year (note 9)|-
52,600
(47,600)
5,000
5,000
5,000|-
51,600
(51,600)
-
-
-| |---|---|---| ## **5 Trustees remuneration and staff costs** During the year the Trustees received no remuneration or reimbursed expenses (2021: £Nil). No staff were employed by the Foundation. ## **6 Fixed Asset Investments** |**Fixed Asset Investments**
**Quoted Investments**
Market Value at 6 April 2021
Additions
Transfer from Pickford Trust
Disposals
Net unrealised investment gains/(losses)
**Market Value at 5 April 2022**
Historical cost at 5 April 2022 of quoted investments|**2022**
**£**
1,025,074
534,587
820,535
(627,333)
43,589
1,796,452
1,710,685|**2021**
**£**
786,063
480,546
-
(492,064)
250,529
1,025,074
868,518| |---|---|---| Historical cost at 5 April 2022 of quoted investments The fair value of the listed investments is determined by reference to the mid-market value of shares at the Balance Sheet date. - 10 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **NOTES TO THE ACCOUNTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ |**6**
**Fixed Asset Investments - continued**
UK equities
Overseas Bonds
Overseas equities
Global Investments
Property
Absolute Return
Other
Commodities
UK Bonds
Investments listed on recognised stock exchange||**2022**
**2021**
**£**
**£**
391,626
206,487
129,583
44,545
812,551
426,385
67,928
105,672
73,907
21,340
69,068
69,168
65,423
10,559
38,548
34,862
147,818
106,056| |---|---|---| |||1,796,452
1,025,074| |All investments were held in the UK.
There were no material investments held at either end.
**7**
**Debtors**
Other debtors - Gift to The David Pickford Charitable Foundation||**2022**
**2021**
**£**
**£**
1,368
-| |**8**
**Cash investments**
Diamond reserve
Cash at Brewin Dolphin||**2022**
**2021**
**£**
**£**
8
8
72,492
8,588| |||72,500
8,596| |**9**
**Creditors: amounts falling due within one year**
Accruals
Charitable donations||**2022**
**2021**
**£**
**£**
4,610
4,386
5,000
-| |||9,610
4,386| |**10**
**Designated fund**
**2022**
Investment reserve|**As at 6 April**
**2021**
**New**
**designation**
**£**
**£**
421,669
835,282|**Designation**
**released**
**As at 5 April**
**2022**
**£**
**£**
-
1,256,951| |**2021**
**As at 6 April**
**2020**
**New**
**designation**
**Designation**
**released**
**As at 5 April**
**2021**
**£**
**£**
**£**
**£**
Investment reserve
227,715
193,954
-
421,669
The investment fund has been designated by the Trustees to generate an income stream for the charity.||| - 11 - ## **THE DAVID PICKFORD CHARITABLE FOUNDATION** ## **NOTES TO THE ACCOUNTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ |**11**
**Endowment Fund**
**2022**
The Trust Fund
Buildings and investments
**2021**
The Trust Fund|**As at 6 April**
**2021**
**Income Expenditure**
**As at 5 April**
**2022**
**£**
**£**
**£**
**£**
612,001
-
-
612,001
-
237,288
-
237,288
612,001
237,288
-
849,289
**As at 6 April**
**2020**
**Income Expenditure**
**As at 5 April**
**2021**
**£**
**£**
**£**
**£**
612,001
-
-
612,001| |---|---| ## **The Trust Fund** The Trust Fund represents the investments of the charity identified in the governing document as The Trust Fund. ## **Buildings and investments** As part of the assets gifted following the dissolution of The Pickford Trust, the permanent endowment in that charity transferred to The David Pickford Charitable Foundation. In 1971 and 1972 the original endowment was invested by the trustees in purchasing and building properties at Elm Tree Farm. Further buildings were erected in 1982. Additional capital was invested by the trustees in purchasing listed investments. ## **12 Analysis of net assets between funds** |**2022**
Fixed assets
Current assets
Current liabilities
**2021**
Fixed assets
Current assets
Current liabilities|**Unrestricted**
**Designated**
**Endowment**
**£**
**£**
**£**
- 1,256,951 612,001
18,149
- -
(9,610)
- -
8,539 1,256,951 612,001
**Unrestricted**
**Designated**
**Endowment**
**£**
**£**
**£**
- 434,669 612,001
19,511
- -
(4,386)
- -
15,125 434,669 612,001|**Total**
**£**
1,868,952

18,149
(9,610)
1,877,491
**Total**
**£**
1,046,670

19,511
(4,386)
1,061,795| |---|---|---| ## **13 Related party transactions** Mrs E J Pettersen is a trustee of Folkestone Rainbow Centre. During the year, the charity made a donation to Folkestone Rainbow Centre of £2,000 (2021: £2,000). Mrs E J Pettersen is a trustee of Brighter Future International Trust. During the year, the charity made a donation to Brighter Future International Trust of £12,000 (2021: £12,000). During the year, the Trustees of the Pickford Trust, a charity in which Mrs E J Pettersen and Mr C J Pickford are trustees, decided to wind up the charity. Approval was sought and gained from the Charity Commission to trasnfer the remaining funds to The David Pickford Charitable Foundation. As a result funds totalling £846,768 were transferred to The David Pickford Charitable Foundation. - 12 -