THE HARRY AND KATIE POLLARD TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Charity Number 255080
THE HARRY AND KATIE POLIARD TRUST Registered Ch4rity No. 255080 CONTENTS Page Legal and administrative inforniation Trustees, annual report Statement of trustees, responsibilities Ind¢p¢nd¢nt Examiner's report Statement of Financial Activities Statement of Financial Activities for 2023 Balance Sheet Ststement of Cash Flows Notes to the Financial Statem¢nls 10-15
THE HARRY AND KATIE POLLARD TRUST Registered Charlty No. 255080 LEGAL AND ADMtNISTRATIVE INFORMATION Trusteey: Mrs C Epsom (Chair) Mr M Woods Faiher Darren Smith Father Martin Ennis Mr R Morgan Father David Fisher Registered Office: The Church Union 16 Commercial Street Birniingham BI IRS Bankers: Natwe5t Bank PIC Sh¢ph¢rds Bush 25 Shepherds Bush Green ndon W12 8PR Inve8lmeni Mngen: CCLA Essex CM6 9DL Independent ELqmiDer: Ni¢holas Simkins FCA Butts Farni Staffordshire STI 8 (YfF
THE HARRY AND KATIE POLLARD TRUST Registered Cbarity No. 255080 TRUSTEES. ANNUAL REPORT For the year ellded 31 December 2024 The Trusiees present their annual report and financial stat¢m¢nts of the charity for th¢ year end¢d 31 D¢c¢mber 2023. The financial statem¢nls have be¢n prepar¢d in accordance with the accounting policies set out in note 2 to the accounts and comply.with ihe charity's trnsl d¢¢d. Ihe Charities Act 201 l and Accounting and Reporting by Charities.. Statement of Recommended Prdctice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Th¢ R¢ver¢nd Hary Pollard Trust is constituted under the temis of a Will dated 25 February 1959. On ?6 October 2008 th¢ R¢ver¢nd Harry Pollard Trust amalgamated, and the funds were transf¢rr¢d lo th¢ Mrs Kali¢ Pollard Trust. On 20 March 2007 th¢ Mrs Kati¢ Pollard Trust ¢hanged its name to The Hary and Katie Pollard Trnst. This Trust is constituted under a will dated 6 May 1952 and codicil dated 21 October 1953. The Objects of the Trust were amended by Scheme dated 29 November 2022. Our Trustees are appointed by the Council of the Church Union OKJECTIVES AND ACTIVITIES The object of the Charity is to apply the income for relief of inforni. sick or aged persons who are retired clergy or any adult unmarried depend¢nts of deceased clergy The Charity m¢¢ts th¢s¢ objects by giving grants. PUBLIC BENEFIT The Trustees ¢onfirni that they have refeed to the 8utdan¢¢ ¢ontsined in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and obje¢tiv¢s and in planning future activities and that they remain Committed to supporting individuals through gront-making. In considering such grants. the Trustees naturally look for demonstrable public benefit. GRANT N14KING POLICY The Charity has established its grant making wlicy to aehiev¢ Ats obj¢¢ts for th¢ public b¢n¢fit. Applications for grants considered. with reference to the charity's objectives, on a case by ¢as¢ basis by the Board of Trustees. In 2024. 7 grants was made totalling £8.900 (2023 1 granl- £l.000). FINANCIAL REVIEW The year saw the ¢harity generate net income of £15,441 (2023: £35,817 net income). Income arising on the investments h¢ld for tEstricied fvnds was wholly re-invesfrd. Unrealised gains arising from the investment w)rtfolio in 2024 were £34.125 (2023: £107.711 gain) The inv¢stm¢nl policy agr¢ed and aclioned in the past remained in place throughout the year. The Ttwste¢s ar¢ satisfi¢d with ihe perfoman¢e of the portfolio having regard io the risk profil¢ adopted.
THE HARRY AND KATIE POLLARD TRUST Registered Cbgrity No. 255080 TRUSTEES, ANNUAL REPORT (Continued) For the year ended 31 De¢ember 2024 RESERVES POLICY Th¢ TTUSte¢s are aware of the Charity Commission requirement in regard to R¢smi¢s Policy and are satisfied that the level of reserves currently held is warrdnted to enable them to maintain the objectives of the Charity. The Trnstees review gUlarty the level of reserves. and the underlying investments and the retyrns being r¢c¢ived on these investments. At the 31 December 2024 unr¢stri¢led reserves amounted to £1.374,970 {2023= £1.325,404). This represents s¢v¢ral years, of ongoing expenditure. It is the rM)licy of the Trnste¢s to maintain at least one year's expenditure in unr¢strict¢d reserves. The Trnstees may permit funds to be invested in such a manner as they see fi( provided that such powers if investment are only exercised for the purpose of attaining the objects of the Trust, and in a manner that is legally charttable. The Trustees, agr¢¢d Investment Policy is to maintain a balanced portfolio with medium risk. GOING CONCERN The Trustees consider that the level and nature of th¢ financial reserves at 31 December 2024 does not impact uw>n the assumption that the organisation is a going concern. KEY MANAGEMENr The day to day management of the Charity 15 the resw)nsibility of the Trnste¢s. RISK FACTORS During the year the Trustees continued to monitor the major risk faclors facing the Charity and they remain satisfied that existing systems and conlrols are sufficient to mitigate those risks. During the year under r¢vi¢w th¢ Charity maintained sound systems of int¢rnal financial control, including procedures for authorisation of all transactions pn)jects. Such procedures are kept under on-going miew in order to ensure that ihey meel the Charilv's needs. This rert was approv¢d by the Trustees on and signed on its behalf by Mrj C Epsom- Chair
THE HARRY AND KATIE POLLARD TRUST Registered Charity No. 255080 STATEMENT OF TRUSTEES, RESPONSIBILITIES For ¢he year euded 31 De¢ember 2024 TRUSTEES, RESPONSIBILlEs IN RELATION TO THE FINANCIAL sfATEMENTS The Charity Trus¢e¢s responsible for preparing a Trus¢e¢s' annual report and financial statements in accordan¢¢ with applicable law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accijunting Practice). The law applicable to charities in England and Wales requires the Charity Trustees to prepatr finoncial statements for each year which give a true and fair view of the slate of aftairs of th¢ Charity and of th¢ incoming resources and application of r¢sour¢¢s, ofthe charity for that period. In preparing the financial statements. the trustees are requir¢d to: selecl suitable accounting policies and then apply them consistently. obs¢rv¢ the methods and principles in the applicable Charities SORP. mak¢ judgements and estimates that ar¢ reasonable and prudent. state whether applicable accounting standards have been tollowè& subject to any material departures that must be dis¢losed and explained in the fancial statements: prepare the financial statements on the going concern basis unless it is inappropriat¢ to Presume that the charity will ¢ontinu¢ in busin¢ss. The Trnstees are responsible for keeping proper accounting records that disclose wiih reasonable ac¢ura¢y at any time the financial position of the charity and to enable them lo ensure that th¢ financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulation& and th¢ provisions of the Tru deed. They are als responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Th¢ Trustees are r¢sponsibl¢ for th¢ maintenan¢¢ and integrity of the charity and financial infomjation included on th¢ charity's w¢bsil¢ in a¢cordan¢¢ with legislation in the Unit¢d Kingdom governing the preparntion and dismInall0n of financial stalements. Approved by the Trust¢¢s on and signed on its behalf by Mrs C Epsom- Chair
Registered Charity No. 255080 INDEPEIWENf EXAMINER'S REPORT TO THE TRUSTEES OF THE HARRY AI¥D KATIE POLLARD TRUST For the year ended 31 December 2024 I report lo the trustees on my examination of the accounts of The Hany and Katie Pollard Trust (the Charity) for the year ended 31 Decemb¢r 2024. This report is made solely to the charity's trustees, as a body, in accordance with Re8ulation 31 of the Charities (Accounts and Reports) R¢gulations 2008. My work has been undertak¢n so that I might stale to the charity's trustees those matters l am required to slat¢ to them in an independent examine¢s report and for no other purpose. To the fullest extent perniitted by law, I do not ac¢¢pt or assume responsibility to anyone other than the charity's trustees as a body. for my work. for this report. or for the statement I have made. Responsibilities And basi8 for report As the Charity Trust¢¢s of the you are responsible for th¢ PparatIon of the accounts in acciyrdarkce with the requirements of the Charities Act 2011 ('tthe Act"). I report in respect of my examination of the Charity's a¢¢ounts ¢arried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under stIOn 145(5Kb) of the Act. Independent examiner's ststemtllt J have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving m¢ U$¢ to believe: accounting records were not kept in respect of the Charity as required by s¢ction 130 of the Act; or 2. the accounts do not accord with thos¢ r¢¢ords; or 3. the accounts do not comply with the accounting requirements concerning the forni and content of the account5 set out in the Charities (Ac¢ounls 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 independ¢nl ¢xaminalion; or 4. the account5 have not b¢¢n prepared in accordance with the methi)ds and principles of the Statement of Recommended Practice for a¢counting and reporting by charilies. I hav¢ no conc¢rns and have come across no other matters in ¢onn¢¢lion with the examination to which attention should be draiNn in this report in order to enable a proper understanding of ihe accounts to b¢ r¢ach¢d. Nicholas Simkins FCA Butts Farni Staffordshire ST180TF
THE HARRY AND KATIE POLLARD TRUST Registered Charity No. 255080 STATEMENT OF FINANCIAL ACTIVITIES (Incorrting lllcome and Expenditure Aceount) For the year ended 31 Deeember 2024 ReJtri¢¢ed UDres¢ricted Total Funds Funds Funds 2024 Totsl Funds 2023 ote INCOME AND ENDOWMENfs FROM: Volulltgry in¢ome: Income from investments 39.834 39,834 38,309 Total incoming resources 39.834 39,834 38,309 EXPENDITURE ON: Charitable activities 24,393 24.393 2,492 Total resources expended 24,393 24.393 2,492 Net in¢ome/(expenditur¢) before gains and losses on investments 15,441 15.441 35,817 Unrealised (lossesy8ain5 from investments 34.125 34,125 107.711 NET tNCOME I (EXPENDITURE) 49,566 49,566 143.528 Reconciliation of funds Totsl fvnds brought forward 1.325.404 1.325,404 1.181.876 Total funds ¢arried fonvard 1.374.970 1.374,970 1,325,404 The notes on pages 10 to 15 forni part of these fllwicial statements.
THE HARRY AND KATIE POLLARD TRUST Registered Charlty No. 255080 STATEMENT OF FINANCIAL ACTIVITIES an¢orporatiDg ID¢ome and Expellditure Account) For the year ended 31 De¢ember 2023 (for eomparnttye purposes) Re8¢rieted Unrestricted Totsl Funds To¢#1 Fundj FuDds Funds 2023 2022 Note IY4COME AND ENDOWMENTS FROM: Voluntary income: Income from investments 38,309 38.309 36,540 Total ineoming resources 38.309 38,309 36.540 EXPENDITURE ON: Charitable a¢tiviti¢s 2.492 2,492 3,714 Total resources expended 2,492 2,492 3,714 Net incomel(expenditure) before gains and losses on inv¢sth?¢nts 35,817 35,817 32,826 Unreali5ed (Iossesygains from inv¢stm¢Dts 107,711 107,711 (161.685} NET INCOME I (EXPENDITURE) 143,528 143,528 (128.859) Retoneilixtion of funds Total funds brought forward 1.181,876 1,181.876 1,310,735 Total funds carried fonvard 1.325,404 1,325.404 1,181,876 The notes on pages l O to 15 forni part of th¢se fJnan¢tal statements.
THE HARRY AND KATIE POLLARD TRUST Registered Charity No. 255080 BALANCE SHEET For tht year ended 31 December 2024 2024 2023 Nots FIXED ASSETS Investsnents 1.334.163 1.285,038 CURRENT ASSETS Cash at bank and in hand 41,597 41,116 41.597 41.116 cREDORS. Ajnounts falling due within one year {790) (750) Net current a88ets 40.807 40.366 Net sEts 1.374,970 ,325,404 Unr¢stri¢ted funds 1,374,970 1,325.404 1.374,970 1,325.404 The notes on pages 10 to I S fonn part of these fjnancial statements. In accordan¢¢ with section 145 of the Charities Act 2011, the charity is exempt from the r¢quir¢ment for an audlt. The constitution does not requi the charity to obtain an audit of its accounts for the y¢ar in question" the exernplion from audit has therefore been claimed The flllancial statements were approved by the Trustees on Mrs C Epsom (Cbair)..................... .. Father Darren Smith (Tntee} Registered Charity No. 255080
THE HARRY AND KATIE POLLARD TRUST Registered Charity No. 255080 STATEMEwf OF CASHFLOWS For the year ended 31 December 2024 Note 2024 2023 Cash Ilows from operating *ettvities'. N¢t cash provided byl(used in) operating activities 13a (24.354) (2,498) Net cash pn>vided byl(u8ed in) oper4tiDg a¢tiviti (24,354) {2.498) Cash flows from inveJtiDg acttvities: Dividends and interest from investments Purchftse of investments 39,835 (15,000) 38.309 (15,000) Iyet c4Jb pn)vidtd by/{used In) investing 4¢tivilies 24,835 23,309 Change in cash and cash eqllivalents in the reporting period 481 20,811 C2Jh and cash equivalents at the beginning of the period 41.116 20.305 Cash and cgsh equivalents gt tbe end of the reporting period 13b 41,597 41.116
THE HARRY AND KATIE POLLARD TRUST Registered Charity No. 255080 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Deeember 2024 The Hary and Katie Pollard Trust is a charity registered in England and Wales No. 255080. The regISted office is 16 Comm¢rcial StreeL Birn)inghatn. B I IRS. ACCOUNfiNG POLICIES BASIS OF PREPARATION The financial ststements have been prepared under the historical cost convention with items recognised at st or transaction value unless otherwise stated in the relevant notes io these a¢¢ounts. The financial stalements have been prepared in accordance with the Ststement of Recommended Prdctice: Accounting and Rewrting by Charities preparing th¢ir accounts in accordance with the Financial R¢porting Standard applicable in the UK and R¢public of Ireland (FRS 102) (¢tTeciive January 2019) and the Charities Act 2011. Th¢ fvnctRonal and presentational ¢urrency is GBP and the accounts ar¢ rounded to the nea$1 £1. b) INCOME REcOGNloN All income is recognised once th¢ charity has entitlement to th¢ income, it is probable that the income will be receil'ed and the amount of income receivable caTh be m¢asured reliably. PREPARATION OF THE FINANCIAL STATEMEKfs ON A GOING CONCERN BASIS The financial statements have been pr¢pared on a going Concern basis. The charity has achieved an operating surplus in 2024 including changes in the market value of iDveslmenls. Ai 31 Decemb¢r 2024, net aSS¢ls amount io £1.374,970 which included £41,597 in the bank and an investment portfolio with a market value of £1.334,163. It is recognised that the market valu¢ of the investment portfolio may fluctuate in the next year which may affect the overall level of reserves. The Trustees constd¢r that the level and nature of the financial reserves at 31 December 2024 does not impact upon ihe assumption that ihe Charity is a going ¢onc¢rn. d) RESOURCES EXPENDED Liabilities are recognised as expendiiure as )0n as there is a legal or constructive obllgation committing the charity 10 that expenditure, it is probable that settlement will required and th¢ amount of the obligation can be m¢asured reliably. Expenditure is charged on th¢ accruals basis. Expenditure included in ¢haritabl¢ activities comprises costs of promoting and SUPFK)rting the objects of the harity. Grants ar¢ Charged at the w)int a commitment is tnade by the Trustees and in the case of on80ing support when the is an exp¢¢tation by the grantee that a grant will received. -i(
THE HARRY AND KATIE POLLARD TRUST Registered Charity No. 255080 NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 De¢ember 2024 STMENTS InVtMents are a fomi of basic fInancial instrument and are inttially re¢ognised at their transaction value and subsequently measured at their fair value as al the balance sheet date using the c105ing quoted mark¢t pri¢¢. The stst¢ment of financial activities includes the n¢t 8ains and losses arising on revaluation and disposals throughout the year. Th¢ Trust does not acquire options, derivatives or other complex financial instruments. The main forni of financial risk fa¢¢d by the charity 15 that of volatility in equity markets and inveslment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in senttment concerning equities and within particular sectors or sub s¢ct¢)rs. INVESTMENT GAINS AND LOSSES All gains and losses are taken to the Statement of Finan¢ial Aclivilies as they arise. Realised gain5 and losses on investments are calculated as the difference between sal¢s pro¢¢¢ds and their openirkg canying value or th¢ir purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losse5 ar¢ ¢al¢ulal¢d as the difference between the fair value at the year ¢nd and their carying value. Realised and unrealised investment gains and losses are combined in the Stsiement of Finan¢iMI Activities g) FINANCIAL INSTRUMENTS The charity only has financial assets and financial liabilities of a kind that clearly qualtfy as basic financial instNment5. Basic fmancial instrnments are initially r¢¢ognised at transaction value and subsequently measured at their settlement. Financial assets that measured at cost and amortised cost are assessed at the end of each r¢porting period for objective evidence of impairnient. If objective evidence of impairnienl is found. an impaimlent loss is recognised in the Statement of Financial Activities. h) JUDGMEIYTS IN APPLYING AccouNfiNG POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY In preparing the Financial Statements, management is requid to mak¢ estimales and assumptions which affect rep)rted income, expenses, assets, liabilities and dis¢losure of Contingent assets and liabilities. Use of available inforniation and application of judg¢m¢nt ar¢ Inh¢nt in the fomialion of estimates. together with expectations of fviur¢ events that are believed to be reasonable under the circumstances. A¢al results in the future could differ from such estimates. There are no key assumoions or other sources of estimation that have a significant risk of causing a material adjustment to the canying values of assets and liabilities within the next financial year.
THE HARRY AND KATIE POLLARD TRUST Regis¢ered Charity No. 255080 NOTES TO THE FINANCIAL STATEMENTS (Con¢inued) For the year ended 31 De¢ember 2024 RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT PERSONNEL The key management personnel of the Charity are the Trustees. The Charity's policy is not to remunerdte Trusttts other than reimbursement for ¢xpens¢s incuffed. There were no staff costs incurred in ihe y¢ar. During th¢ year £625 (2023 - £742) w&s reimbuts¢d for travel cost pellse$ 10 6 Trustees (2023 - 6). Ther¢ were no outstanding balances due to or from Tntstees at the year*nd (2023 - nil). The Trusle¢s of the Charity are appointed by Th¢ Church Union. The Church Union acts as custimjian trustee of the CCLA investmenl portfolio of the Charity {not¢ 12). A payment of £13,578 was made to the Church Union in the year as a management fee for acting as custodian trust¢¢ (2023.. £nil). Father Darren Smith is th¢ Genernl Secretary of the Additional Curgfrs Society (ACS). The following payments w¢r¢ made to ACS in the year. Donaiion to ACS- £500 Reimbursement of travel ¢xp¢nses for Father Darren Smith- £215 INVESTMEY4T INCOME 2024 2023 Dividends and bank interest 39.834 38.309 39834 38J09 CHARITABLE AcTIlEs 2024 2023 Grants Ttwstee travel expens¢s Independent examinaiion Custodian trusiee management fee Donation to ACS 8,900 625 790 13,578 5(Kl 1.000 742 750 24J93 2,492
THE HARRY AND KATIE POLLARD TRUST Registered Charity No. 255080 NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 December 2024 INDEPENDENT EXAMINER'S REMUNERATION The Independeni Examiner's remuneration was £790 (2023: £750) for the preparation and examination of the accounts. FIXED ASSET INVESTMEIYTS CCLA Market value at l January 2024 Unrealised (Losses) I gains in the year Additions 1.285,038 34.125 15,000 M#rket value at 31 December 2024 1334,163 HIor1eI corf 31 December 2024 £1,017,433 Market value at l January 2023 Unr¢alis¢d (Losses) I gains in the year Additions 1,162,327 107,711 15,000 Market value at 31 De¢ember 2023 1285.038 Hisiorical corf a¢ 31 December 2023 £1,002,433 CASH AT BANK 2024 2023 Bank accounts CCLA DeposTt account 18,916 22,681 19,541 21,575 41597 41,116 -1
THE HARRY AND KATIE POLLARD TRUST ReEistered Charity No. 255080 NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 December 2024 CREDITORS: AmouDts falling due within one year 2024 2023 Accruals 790 750 790 750 10. AI¥ALYSIS OF NET ASSETS BETWEEN FUNDS 2024 2023 Investments Current assets Creditors: amounts falling due within one year 1,334.163 41,597 (790) ,285,038 41,116 (750) lJ74,970 I J25,404 FUNDS RECONCILIATION Balance at Jn¢omiDg Outgoillg Investments l 2024 Resources Resources gainsl(losses) Balance ai 31 Dee 2024 Unrestricted Funds 1.325,404 39.835 (24,394) 34.125 1.374.970 IJ25,404 39,835 (24J94) 34,125 lJ74,970 12. FUNDS HELD BY A THIRD PARTY The Trustees of the Church Union act as CUStlan knwstees for the Harry & Katie Pollard Trust. The market VAlue of the portfolio at the year end was £1,334,163 (2023: £1.285,038). The portfolios are held onty in th¢ ¢apa¢ity of custodian trustee. they are not reflected in the Balance Sheet or Ststement of Financial Activiti¢s of th¢ Church Union. A payment of £13,578 was made to the Chur¢h Union in th¢ year Is a management fee for acting as custcrtlian ttustee (2023.. £nil). -14-
THE HARRY AND KATIE POLLARD TRUST Registered Cbaiity No. 255080 NOTES TO THE FINANCIAL STATEMENfs (Continued) For the yegr ended 31 December 2024 13. NOTES TO THE CASH FLOW STATEMENT Recon¢iliation ofnet iD¢omel(expenditure) to net cash flow from operating a¢tivltles 2024 2023 Reconciliation of net incomd(expenditure) for the reporting p¢riod (as per the slal¢meftt of financial activities) Adjusthients for: Lossesl{Gains) on investments Divtdends and inleresl from investments Increasel(decrease) in creditors Net cash (used in) operating activiti¢s 49.566 143,528 (34,125) (39,835) 40 (107.711) (38.309) 24 ADalysis of cash and Cash equivalents 2024 2023 Cash at bank and held in investm¢nts Total cash and ¢a$b equivalents 41,957 41,116