THE DAVID PICKFORD CHARITABLE FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
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
| 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 |
THE DAVID PICKFORD CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023
The Trustees present their report and financial statements of the charity for the year ended 5 April 2023. 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 and Republic of Ireland published in October 2019.
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 £31,383 (2022: £7,663).
Expenditure amounted to £159,785 (2022: £69,324) of which £131,350 (2022: £52,600) 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 deficit of £128,402 (2022: surplus £785,107). The result after losses on investment was a deficit of £263,231 (2022: surplus £828,696).
The charity had funds at 5 April 2023 totalling £1,614,260 (2022: £1,876,491).
The market value of the investments at the end of the year was £1,575,936 (2022: £1,796,452) compared with the cost of £1,604,980 (2022: £1,710,685). The market value of the investments at 5 April 2023 was below the original cost but this is only considered to be a temporary position. In addition to the charity's portfolio of investments the charity held cash to be invested amounting to £28,172 (2022: £72,500).
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.
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THE DAVID PICKFORD CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
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 £115,000 (2022: £70,000), though this varies due to the number of requests received. Unrestricted funds at 5 April 2023 amount to £10,152 (2022: £8,539). The Trustees will review the policy on an annual basis.
Designated funds at 5 April 2023 amounted to £754,819 (2022: £1,019,663) and details can be found in note 10 Endowment funds at 5 April 2023 amounted to £849,289 (2022: £849,289) 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 2022/23.
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;
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observe the methods and principles in the Charities SORP 2015 (FRS 102);
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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;
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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: 29 January 2024
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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 2023 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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- the accounts do not accord with those records; or
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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 2024
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THE DAVID PICKFORD CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Notes Income from: Investment income 2 Assets gifted from The Pickford Trust 13 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/(losses) on investments 6 Net movement in funds Reconciliation of funds: Funds brought forward at 5 April 2022 Funds carried forward at 5 April 2023 |
2022 Unrestricted Endowment Total Total £ £ £ £ 31,092 - 31,092 7,663 291 - 291 846,768 2023 |
|---|---|
| 31,383 - 31,383 854,431 | |
| 131,350 - 131,350 52,600 3,402 - 3,402 2,745 25,033 - 25,033 13,979 |
|
| 159,785 - 159,785 69,324 | |
| (128,402) - (128,402) 785,107 (134,829) - (134,829) 43,589 |
|
| (263,231) - (263,231) 828,696 1,028,202 849,289 1,877,491 1,048,795 |
|
| 764,971 849,289 1,614,260 1,877,491 |
All income and expenditure derive from continuing activities.
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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 Assets gifted from The Pickford Trust 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 2021 Funds carried forward at 5 April 2022 |
2022 Unrestricted Endowment Total £ £ £ 7,663 - 7,663 609,480 237,288 846,768 - |
|---|---|
| 617,143 237,288 854,431 | |
| 52,600 - 52,600 2,745 - 2,745 13,979 - 13,979 |
|
| 69,324 - 69,324 | |
| 547,819 237,288 785,107 43,589 - 43,589 |
|
| 591,408 237,288 828,696 436,794 612,001 1,048,795 |
|
| 1,028,202 849,289 1,877,491 |
All income and expenditure derive from continuing activities.
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THE DAVID PICKFORD CHARITABLE FOUNDATION
BALANCE SHEET
AS AT 5 APRIL 2023
| Notes 6 8 Debtors 7 Creditors: Amounts falling due within one year Accruals 9 Funds 10 11 12 General funds Designated fund Fixed assets Listed investments Endowment fund Cash investments Current Assets Cash at bank Net current assets Net assets Unrestricted funds |
£ £ £ 1,575,936 28,172 1,604,108 2,103 759 11,049 17,390 13,152 18,149 (3,000) (9,610) 10,152 1,614,260 10,152 754,819 849,289 1,614,260 2023 |
£ 1,796,452 72,500 2022 |
|---|---|---|
| 1,868,952 8,539 |
||
| 1,877,491 | ||
| 8,539 1,019,663 849,289 |
||
| 1,877,491 |
The financial statements were approved and authorised for issue by the Board on 29 January 2024
Signed on behalf of the board of Trustees
………………………………………..
Mrs E J Pettersen
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THE DAVID PICKFORD CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023
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 and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting
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.
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Investment income is included when receivable.
-
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THE DAVID PICKFORD CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
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.
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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.
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THE DAVID PICKFORD CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
| 2 Investment income Dividend income |
2023 2022 £ £ 31,092 7,663 31,092 7,663 |
|---|---|
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 2022 849,289 - Unapplied total return - 1,019,663 849,289 1,019,663 Movements Dividend return - 31,092 Investment management costs - (25,033) Assets gifted from The Pickford Trust - 291 Gains/Losses - (134,829) - (128,479) Unapplied total return allocated to income - (136,365) Net movement in the year - (264,844) At 5 April 2023 849,289 754,819 2023 £ 131,350 Charity No 2023 £ Brighter Future International Trust 1110823 45,000 Family Trust 1162296 500 Folkestone Rainbow Centre 1096570 50,000 Bible Society 2,500 YWAM 2,000 Sports Chaplaincy UK 500 Kenward Trust 1146481 2,000 Love Light Romania 1117981 Prison Fellowship 279446 2,000 Street Pastors (Ascension Trust) 1127204 1,500 St Peter & St Paul, Saltwood - 750 Shelterbox 1096479 1,000 The Langley House Trust 1146304 1,000 Nehemiah Project 1058536 - Innovista 1108679 2,000 Intl mission for the Jews 271323 - UCB 1,000 Carried forward 111,750 Charitable donations |
Total endowment £ 849,289 1,019,663 |
|---|---|
| 1,868,952 | |
| 31,092 (25,033) 291 (134,829) |
|
| (128,479) (136,365) |
|
| (264,844) | |
| 1,604,108 | |
| 2022 £ 52,600 |
|
| 2022 £ 12,000 750 2,000 - 2,000 - 1,000 - 1,000 - 750 1,000 1,000 1,000 6,500 1,000 - |
|
| 30,000 |
4 Charitable donations
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THE DAVID PICKFORD CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
4 Charitable donations - continued
| Charity No Brought forward CARE 1066963 Christians Against Poverty 1097217 Christians in Entertainment 801327 Sportsreach 1065723 Leprosy Mission 1050327 Philo Trust 285762 Porchlight 267116 Off the Fence 1108777 Air Ambulance 1021367 Tastelife 1158516 Toilet Twinning 265464 Alpha UK 1086179 Jews for Jesus 1110425 Mercy Ships 1053055 Youth for Christ 263446 |
2023 2022 £ £ 111,750 30,000 5,000 5,000 1,000 - 1,000 - 500 - 2,000 6,000 5,000 5,000 2,000 1,000 - 1,000 500 - 1,000 - 600 600 - 1,000 - 1,000 1,000 1,000 - 1,000 131,350 52,600 |
|---|---|
In addition to the above donations, a further offer, amounting to £5,000 has been made to Christ Church, Balham. However, it is not yet known if they are in a position to proceed with their project and therefore is not a binding commitment at 5 April 2023.
| Reconciliation of grants payable Commitments at 6 April 2022 Commitments made in the year Grants paid during the year Commitments at 5 April 2023 Commitments at 5 April 2023 are payable as follows Within one year (note 9) |
5,000 131,350 (136,350) - - - |
- 52,600 (47,600) |
|---|---|---|
| 5,000 | ||
| 5,000 | ||
| 5,000 |
5 Trustees remuneration and staff costs
During the year the Trustees received no remuneration or reimbursed expenses (2022: £Nil). No staff were employed by the Foundation.
6 Fixed Asset Investments
| Fixed Asset Investments Quoted Investments Market Value at 6 April 2022 Additions Transfer from Pickford Trust Disposals Net unrealised investment gains/(losses) Market Value at 5 April 2023 Historical cost at 5 April 2023 of quoted investments |
2023 £ 1,796,452 373,503 - (459,190) (134,829) 1,575,936 1,604,980 |
2022 £ 1,025,074 534,587 820,535 (627,333) 43,589 |
| 1,796,452 | ||
| 1,710,685 |
The fair value of the listed investments is determined by reference to the mid-market value of shares at the Balance Sheet date.
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THE DAVID PICKFORD CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
6 Fixed Asset Investments - continued
| 6 | Fixed Asset Investments - continued | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Investments listed on recognised stock exchange | £ | £ | ||||
| UK equities | 336,056 | 391,626 | ||||
| Overseas Bonds | 64,937 | 129,583 | ||||
| Overseas equities | 699,191 | 812,551 | ||||
| Global Investments | 84,286 | 67,928 | ||||
| Property | 53,853 | 73,907 | ||||
| Absolute Return | 68,142 | 69,068 | ||||
| Other | 54,380 | 65,423 | ||||
| Commodities | 9,455 | 38,548 | ||||
| UK Bonds | 205,636 | 147,818 | ||||
| 1,575,936 | 1,796,452 | |||||
| All investments were held in the UK. | ||||||
| There were no material investments held at either end. | ||||||
| 7 | Debtors | 2023 | 2022 | |||
| £ | £ | |||||
| Accrued income | 2,103 | - | ||||
| Other debtors - Gift to The David Pickford Charitable Foundation | - | 759 | ||||
| 2,103 | 759 | |||||
| 8 | Cash investments | 2023 | 2022 | |||
| £ | £ | |||||
| Diamond reserve | 8 | 8 | ||||
| Cash at Brewin Dolphin | 28,164 | 72,492 | ||||
| 28,172 | 72,500 | |||||
| 9 | Creditors: amounts falling due within one year | 2023 | 2022 | |||
| £ | £ | |||||
| Accruals | 3,000 | 4,610 | ||||
| Charitable donations | - | 5,000 | ||||
| 3,000 | 9,610 | |||||
| 10 | Designated fund | As at 6 April | New | Designation | As at 5 April | |
| 2022 | designation | released | 2023 | |||
| 2023 | ||||||
| £ | £ | £ | £ | |||
| Investment reserve | 1,019,663 | - | (264,844) | 754,819 | ||
| The investment fund has been designated by the Trustees to generate an income stream for the charity. | ||||||
| 2022 | As at 6 April | New | Designation | As at 5 April | ||
| 2021 | designation | released | 2022 | |||
| £ | £ | £ | £ | |||
| Investment reserve | 421,669 | 597,994 | - | 1,019,663 |
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THE DAVID PICKFORD CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
| 11 Endowment Fund 2023 The Trust Fund Buildings and investments 2022 The Trust Fund Buildings and investments |
As at 5 April 2022 Income Expenditure £ £ £ 612,001 - - 237,288 - - 849,289 - - As at 5 April 2021 Income Expenditure £ £ £ 612,001 - - - 237,288 - 612,001 237,288 - |
As at 5 April 2023 £ 612,001 237,288 |
|---|---|---|
| 849,289 | ||
| As at 5 April 2022 £ 612,001 237,288 |
||
| 849,289 |
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
| 2023 Fixed assets Current assets Current liabilities 2022 Fixed assets Current assets Current liabilities |
Unrestricted Designated Endowment £ £ £ - 754,819 849,289 13,152 - - (3,000) - - 10,152 754,819 849,289 Unrestricted Designated Endowment £ £ £ - 1,256,951 612,001 18,149 - - (9,610) - - 8,539 1,256,951 612,001 |
Total £ 1,604,108 13,152 (3,000) |
|---|---|---|
| 1,614,260 | ||
| Total £ 1,868,952 18,149 (9,610) |
||
| 1,877,491 |
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 £50,000 (2022: £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 £45,000 (2022: £12,000).
During the previous 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 transfer the remaining funds to The David Pickford Charitable Foundation. As a result funds totalling £846,768 were transferred to The David Pickford Charitable Foundation.
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