ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
THE PUBLIC PURPOSES CHARITY
CHARITY REGISTRATION NUMBER 266718
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF Bosham PO18 8NF
THE PUBLIC PURPOSES CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
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Page
Legal and Administrative Information 3
Trustees' Report 4 to 7
Independent Examiner's Report on the Accounts 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11 to 18
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THE PUBLIC PURPOSES CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
266718
WORKING NAMES STANFORD IN THE VALE PPC (Working name) START OF FINANCIAL YEAR 01 January 2021 END OF FINANCIAL YEAR 31 December 2021
TRUSTEES AT 31 DECEMBER 2021 Dr Roger Griffin - Chairman Ms Caryl Oliver - Clerk Correspondent Mr Felipe Vizoso - Treasurer Mrs Sally Barnes Mrs Julia Grinsted Mr A Gunby Mr Andrew Hggins Mr Mike Macfarlane Mr Tim Mills Mr Geoffrey Somerset MR M Dixon - Appointed 12 July 2021
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
GOVERNING INSTRUMENT Scheme of 21St August 1997 as amended 9 September 1999 and 26 January 2006. As amended On 16 Apr 2020. REGISTRATION DATE 01 February 1974: Standard registration
01 February 1974: Standard registration
OBJECTS
The general benefit of the inhabitants of the parish of Stan f ord In The Vale in such ways as the trustee thinks
CORRESPONDENCE ADDRESS fit. 22 Bow Road Stanford in the Vale FARINGDON SN7 8JB PRIMARY BANKERS Lloyds Bank PLC Blackheath London 15 Blackheath Village London SE3 9LH INDEPENDENT EXAMINER Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
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STANFORD IN THE VALE PUBLIC PURPOSES CHARITY
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report and financial statements for the year ended 31 December 2021.
The accounts comply with the Stanford in the Vale Public Purposes Charity Scheme and the Charities Act 2011.
Mission Statement
Striving to improve and strengthen the community spirit within Stanford-in-the-Vale by providing a source of finance for projects that will benefit the parish.
The Public Purposes Charity, in the Parish of Stanford in the Vale, in the County of Oxford, is regulated by a Scheme of the Charity Commission dated 21st August 1997 as amended in 9th September 1999 and 25th January 2006 and March 2020.
PPC Trust Scheme Statement
The Trustees shall apply the income of the Charity for the general benefit of the inhabitants of the Parish of Stanford in the Vale.
The disruption created by Covid 19 last year continued to echo through 2021 albeit not quite as loudly or devastatingly.
While PPC closed its more relaxed conditions for grants to assist organisation struggling with Covid induced expenditure, it became clear that some individuals were still having difficulties. PPC introduced a short-term initiative to provide funding for emergency household needs such as fridges etc... To avoid public embarrassment this was jointly managed by one Trustee and the Chair of the School Governors.
A small amount was expended on this and at the end of 2021 this initiative was closed.
PPC is pleased to take a pro-active role make a tangible contribution to the fabric of Stanford in the Vale on behalf of the residents and friends of the Village.
Trustee engagement
There were four ordinary Trustee Meetings during the year, all of which were conducted electronically via Zoom.
One new Trustees joined PPC during the year and no Trustees retired.
Trustees are not paid for their service but reasonable out of pocket expenses are covered when representing PPC.
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STANFORD IN THE VALE PUBLIC PURPOSES CHARITY
TRUSTEES'REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Grant Activity
PPC has pro-actively encouraged applications for grants from a wider range of organisations within the Village. This has successfully been reflected in a selection of new applicants for small but much needed assistance.
Grants have been paid to the following organisations:
-
Stanford Primary School - Forest School Equipment
-
Stanford Association Football Club- Mini Soccer Goals
-
Stanford Drama Group - Sound Improvement Equipment
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Stanford in the Vale Primary School- Omnibus Grant
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St Denys Church - Building Repairs
-
Village Newsletter
-
Pre-School (Covid Support)
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Pre-School - Outdoor Play Equipment
Outstanding approved Grants at 31 December 2021: £20,964.00
The Allotments
PPC continues to provide Public Liability Insurance to cover the Allotments users and servicing of the Allotment area. Trustees have noted the ongoing interest in the use of the allotments and there continues to be a waiting list of villagers who would like to take on an allotment. The waiting list was 16 at the end of 2021.
Discussions have been initiated with the Parish Council to secure additional space for the development of further allotments to provide for the increasing size of the Village.
Financial Review
During the year income from investment dividends was relatively settled following the pandemic while allotment and advertising revenue remained consistent with 2020. There was a net gain on the investment portfolio throughout the year. While the charity is reliant upon dividend income; it's policy on reserves is that it should maintain sufficient funds in reserve to ensure its continued activity for at least 12 months, should dividend income reduce.
Throughout the year the trustees adopted a pro-active approach to deliver more support more broadly in the Parish.
The underlying investments which generate the dividend income used by PPC are managed on the charity's behalf by CCLA Investment Management Limited. Throughout the year, the performance of the investments has generally exceeded market indices.
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STANFORD IN THE VALE PUBLIC PURPOSES CHARITY
TRUSTEES'REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Looking Ahead
The PPC Website www.ppcstanford.org will be continue to be updated with new information about PPC and the projects it supports as well as Grant Application Guidelines and Forms, Allotment Applications and Rules and contact details for Trustees. Additionally, grant recipients' photos of their projects are also included on the site
As a part of increasing flexibility, PPC introduced an omnibus grant concept in 2019. This was to be reviewed in 2020. This review has been deferred until post-pandemic.
In keeping with Privacy regulations, all Trustees have PPC email addresses so that their private email addresses are not exposed for PPC business.
Administration and Governance
Trustees
There should not be less than 7 Trustees, or more than 12. There are currently 11 Trustees and the Charity is pro-actively seeking additional Members as some Trustees have indicated an imminent desire to retire.
Trustees as at 31 December, 2021:
Dr Roger Griffin - Chairman
Ms Caryl Oliver - Clerk Correspondent
Mr. Felipe Vizoso -Treasurer
Mrs Sally Barnes
Mrs Julia Grinsted
Mr. Tony Gunby Mr Andrew Higgins Mr Mike Macfarlane
MrTim Mills Mr Geoffrey Somerset Mr Michael Dixon
Hon. Clerk/Correspondent
Ms Caryl Oliver, 22 Bow Road, Stanford in the Vale, SN7 8JB
Investment Adviser
CCLA Investment Management Ltd.
Solicitors
Field, Seymour Parkes, The Old Coroner's Court, No.l London Street, PO Box 174, Reading, Berkshire RGl 4QW
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THE PUBLIC PURPOSES CHARITY TRU5TEES' REPORT (Contlnued) FOR THE YEAR ENDEI) 31ST DEceMBER 2021 R•sponslblM•s oe Th15t•es Charity law requlre5 Ihe Bo8rd of Yrustees to prepare tlnancLl Statements for each fin¥nctsl year whlch ge a true and lalr view of the State of affalrs of the chaHty and of Rs Incomlny re5wrces and resourre5 expended for the per. In preparln9 th05e ffnancbl st4ternents, the B04rd ofTrustees should Follow best prxtke and are requtred to,. sekEt suabk aceountlng pollcles 4nd apptkneM consIstt make judgment5 and tstlmates that are rea5vnable and PrUdt Comp wlth applIc8b accountlng standard5 8ubJeet tts Jny materbl dwartures dlscf05ed and expIned In the flnanclal statement$ prepare the flnancbl 5t4tements on the golng concern b&%ls unle$8 It15 Inapprcyrlate to presume that the charlty 11 tontlnue In opÈratl¢n The BoBrd of Trustees r%5PDnslble fv m4lntilnln9 proper accountlnq records whlch dCkn9e wlth rea50nab curacy at any tlme the flnancl posltlcl) of the charlty and to e)8ble them to ensure that the tTnan¢lal statemenrs comply wych tha Chirkle5 Act 1993, They ore a&0 re5ponslble for safegu8Tdlng the assats fyf the charlty and hgnce for taklng re)50nable steps for the preventbn ond detectbn of frnud Jnd othv regularIt5 •niJ to provlde reasonable 8ssur•nce that... thè ¢haTlty ts optr•tlng 8fflcFently end •ff¢ctlve all $¢t3 are sjleguarded 19alnst un4uthorlsed u58 or dlsposlth)n and are property appled proper rec¢rd$ are malntalNtyJ and flnjnclsl Inform¥tlon US wlthln th¢ charlty or lor publlcatkn l¥ the chary ¢trnplle5 wlth rebvant kTw5 and regulatkJn$ The 8yStem¥ of Internal cMtrc4 ar¢ d¢slgned to provlde rea¥gn4ble but not absotute is$urnnce mater1 mbstatement or k$5, Approved by the Tru$tee5 On..,... , /,7.,1.202L Slgned on thdr behalf by Trustee. Printed N)me'. C'RRVL oLlkS
THE PUBLIC PURPOSES CHARITY
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
Report to the trustees/ members of The Public Purposes Charity on the accounts for the year ended 31st December 2021.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
-
have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 16th September 2022
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THE PUBLIC PURPOSES CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| Notes INCOMING RESOURCES Donations & Legacies 3a Investment Income 3b TOTAL INCOMING RESOURCES Costs of Charitable Activities 4a Costs of Generating Funds 4b NET INCOMING/(OUTGOING) RESOURCES Balances Brought Forward BALANCES CARRIED FORWARD RECONCILIATION OF FUNDS: RESOURCES EXPENDED TOTAL RESOURCES EXPENDED TRANSFERS BETWEEN FUNDS NET MOVEMENT IN FUNDS |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2021 2020 £ £ £ £ 107,834 - 72,657 180,491 86,761 765 - - 765 1,398 |
|---|---|
| 108,599 - 72,657 181,256 88,159 |
|
| 29,678 - - 29,678 29,618 21,618 - - 21,618 - |
|
| 51,296 - - 51,296 29,618 |
|
| 57,303 - 72,657 129,960 58,541 - - - - - |
|
| 57,303 - 72,657 129,960 58,541 |
|
| 512,806 - 512,198 1,025,004 966,463 |
|
| 570,109 - 584,855 1,154,964 1,025,004 |
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages:11 to 18
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THE PUWC PURPOSES ¢XRITY BALAPKE gHEEr SAY 31 DECEM3ER2021 Unrestrtt•J fund R•strkI EndrA4Tnonl Furid Fund Tatsl 31-D21 31-rJ1• Not95 I,ooi 465 6Z5 20 I,ooi 1 050 480 I,ooi 919 989 Tanglbk $s•t5 Investrnrffit Assrts 564 855 200 97803 6,611 Debttts & Prepayrnts Investments Cash at bank •nd kn h•nd 76185 27,958 76,185 27,958 600 Cmdtuw due on•y•Jr 660 660 141T CVRAeNT A8Ers 103,483 103,483 104,014 TOTAL ASSEfs currwt knbt 5M*S5 &154M4 cr•dIla du• m mornthan one year FUNDS GeneTrl Funds Restrfrted Funds 570,109 570,109 512,806 Endnt Funds 584,859 564,855 512,198 TOTAi FIIIIDS Approved by th•Trust£es on thL........... . ..g&p.&...20?l _ s¥nèl bthaf by Trustee......... t Nwn•:......... io
THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
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 amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand.
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
2. TANGIBLE FIXED ASSETS
| Additions 31 Dec 21 Accumulated Depreciation 1 Jan 21 Charge for the Year Cost 1 Jan 21 31 Dec 21 Net Book Value 31 Dec 21 At 31 December 2020 |
Land £ 1,001 - 1,001 - - - 1,001 1,001 |
2021 £ 1,001 - |
|---|---|---|
| 1,001 | ||
| - - |
||
| - | ||
| 1,001 | ||
| 1,001 |
Included in cost or valuation of land and buidlings is freehold land of £1,001 (2020 - £1001) which is not depreciated.
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
3. INCOMING RESOURCES
| Note TOTAL INCOMING RESOURCES 4. EXPENDITURE ON CHARITABLE ACTIVITIES Note b) Cost of Generating funds Investment portfolio income Investment revaluation gains b) Incoming from Charitable Advertising and allotments Return of Grants Income a) Charitable Activities Advertising Allotment expenses Governance costs:- Independent Examiner Fee Grants to Institutions Insurance Meeting expenses Postage and stationery Sundries Investment revaluation losses a) Investment Income |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2021 2020 £ £ £ £ 50,000 - - 50,000 26,000 57,834 - 72,657 130,491 60,761 |
|---|---|
| 107,834 - 72,657 180,491 86,761 |
|
| 765 - - 765 1,148 - - - - 250 |
|
| 765 - - 765 1,398 |
|
| Unrestricted Restricted Endowment Total Total Funds Funds Funds 2021 2020 £ £ £ £ - - - - 100 4,606 - - 4,606 854 21,260 - - 21,260 28,306 664 - - 664 664 571 - - 571 50 - - - - 124 837 - - 837 - 1,740 - - 1,740 (480) |
|
| 29,678 - - 29,678 29,618 |
|
| 21,618 - - 21,618 - |
|
| 21,618 - - 21,618 - |
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
5. RESTRICTED FUNDS
The Charity held no Restricted Funds during this or the previous financial period.
6. DESIGNATED FUNDS
The Charity held no Designated Funds during this or the previous financial period.
7. ENDOWMENT FUNDS
CURRENT FINANCIAL YEAR
| CURRENT FINANCIAL YEAR | |
|---|---|
| PREVIOUS FINANCIAL YEAR Permanent Endowment Fund Permanent Endowment Fund |
Balance Unrealised 01-Jan-21 Income Expenditure Gain/Loss Transfer 31-Dec-21 £ £ £ £ £ £ 512,198 72,657 - - - 584,855 |
| 512,198 72,657 - - - 584,855 |
|
| Balance Unrealised 01-Jan-20 Income Expenditure Gain/Loss Transfer 31-Dec-20 £ £ £ £ £ 481,408 30,790 - - - 512,198 |
|
| 481,408 30,790 - - - 512,198 |
CCLA account No 890340001T is titled “Permanent Endowment Account” and holds the PPC’s endowment funds which cannot be spent without the authority of the Charity Commission.
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
8. INVESTMENTS
| Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-21 31-Dec-20 £ £ £ £ 01-Jan-21 407,791 - 512,198 919,989 861,426 - - - - - 57,834 - 72,657 130,491 58,563 31-Dec-21 465,625 - 584,855 1,050,480 919,989 There were no investment assets outside the UK. Investments (neither listed nor unlisted) were as follows:- 31-Dec-21 31-Dec-20 £ £ Investments 1,050,480 919,989 Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-21 31-Dec-20 £ £ £ £ 76,185 - - 76,185 97,803 76,185 - - 76,185 97,803 Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-21 31-Dec-20 £ £ £ £ 27,958 - - 27,958 6,611 27,958 - - 27,958 6,611 Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-21 31-Dec-20 £ £ £ £ - - - - 200 - - - - 200 Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-21 31-Dec-20 £ £ £ £ 660 - - 660 600 660 - - 660 600 9. CURRENT ASSETS INVESTMENTS COIF Charities Deposit Fund Market value as at 11. DEBTORS AND PREPAYMENTS Market value as at Additions Investment Assets - Revaluation Gain/(Loss) 10. CASH AT BANK AND IN HAND Independent Examiner's Fee Current A/c Prepayment 12. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-21 31-Dec-20 £ £ £ £ 407,791 - 512,198 919,989 861,426 - - - - - 57,834 - 72,657 130,491 58,563 |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-21 31-Dec-20 £ £ £ £ 407,791 - 512,198 919,989 861,426 - - - - - 57,834 - 72,657 130,491 58,563 |
|---|---|---|
| 465,625 - 584,855 1,050,480 919,989 |
||
| 31-Dec-21 31-Dec-20 £ £ 1,050,480 919,989 |
||
| Total Total 31-Dec-21 31-Dec-20 £ £ 76,185 97,803 |
||
| 76,185 - - |
76,185 97,803 |
|
| Unrestricted Restricted Endowment Funds Funds Funds £ £ 27,958 - - |
Total Total 31-Dec-21 31-Dec-20 £ £ 27,958 6,611 |
|
| 27,958 - - |
27,958 6,611 |
|
| Unrestricted Restricted Endowment Funds Funds Funds £ £ - - - |
Total Total 31-Dec-21 31-Dec-20 £ £ - 200 |
|
| - - - |
- 200 |
|
| Total Total 31-Dec-21 31-Dec-20 £ £ 660 600 |
||
| 660 - - |
660 600 |
13. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial period.
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
14. MOVEMENT IN FUNDS
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
1 Jan 21 Net movement in funds 31 Dec 21 £ £ £ 512,806 57,303 570,109 512,198 72,657 584,855 |
|---|---|
| 1,025,004 129,960 1,154,964 |
Net movement in funds, included in the above are as follows:
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 108,599 (51,296) 57,303 72,657 - 72,657 |
|---|---|
| 181,256 (51,296) 129,960 |
Comparatives for movement in funds
| Permanent Endowment Funds TOTAL FUNDS Endowment funds Unrestricted Funds Unrestricted Funds |
1 Jan 20 Net movement in funds 31 Dec 20 £ £ £ 485,055 27,751 512,806 481,408 30,790 512,198 |
|---|---|
| 966,463 58,541 1,025,004 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 57,369 (29,618) 27,751 30,790 - 30,790 |
|---|---|
| 88,159 (29,618) 58,541 |
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
14. MOVEMENT IN FUNDS (Continued)
A current year 12 months and prior year 12 months combined position is as follows:
| Endowment funds Permanent Endowment Funds TOTAL FUNDS Unrestricted Funds Unrestricted Funds |
01 Jan 20 Net 31 Dec 21 £ £ £ 485,055 85,054 570,109 481,408 103,447 584,855 |
|---|---|
| 966,463 188,501 1,154,964 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 165,968 (80,914) 85,054 103,447 - 103,447 |
|---|---|
| 269,415 (80,914) 188,501 |
15. STAFF COSTS AND NUMBERS
The Charity employed no members of staff during this or the previous financial period.
16. TRUSTEES' REMUNERATION AND BENEFITS
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
(2020 - None)
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2021.
(2020 - None)
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
18. GRANT MAKING ACTIVITIES
During the period grants have been paid to the following organisations:
| Soccer Club Goalposts Drama Group Sound Systems Primary School St Denys Church School Electricity PCC Newsletter Pre School Community Chest |
£ £1810 £1301 £305 £6422 £2393 £1079 £4490 £3460 |
|---|---|
| £21,260 |
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
19. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
20. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
21. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees' report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
This page does not form part of the statutory financial statements
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