Charity No. 278235
THE PEARTREE TRUST
TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED
30 SEPTEMBER 2022
SPENCER FELLOWS & CO
Chartered Accountants 169 New London Road Chelmsford CM2 0AE
THE PEARTREE TRUST
TRUSTEES’ REPORT
YEAR ENDED 30[th] SEPTEMBER 2022
The Peartree Trust (Charity Registration No 278235) and is governed by a trust deed established by the Charity Commissioners in 1979 (the deed). The Trusts’ official address is Oakshade, Bicknacre Road, Danbury, Essex CM3 4ES. The chair of the trust is Timothy David Baker.
The Trust’s objects are detailed in the deed and may be summarised as being to apply the net yearly income of the Trust in providing donations to the furtherance of God’s word/ The Gospel ; education; and the relief of poverty, as set out in its governing document.
TPT holds sufficient reserves to cover the budgeted payments throughout the forthcoming year. The grants budget for the year is made with reference to the reserves held and anticipated investment income. Investment income is received quarterly and as such reserves are reviewed to ensure there are always sufficient funds to cover payments. The reserves are reviewed annually.
The Trustees achieve the objects of the Foundation by meeting as often as possible, writing letters, and speaking on the phone, to review policies, including the recruitment and training of new trustees, and to consider applications for and to authorise grants in one or more of the said categories.
Pursuant to the Statement of Recommended Practice: Accounting and Reporting by Charities, published in March 2005, the Foundation has elected to prepare only a receipts and payments account and a statement of assets and liabilities.
Names of Trustees:
Mr Timothy David Baker Mrs Heather Elizabeth Knowles Mrs Gloria Lucia Baker
Signed T.D Baker (Chairman) Date: 16[th] October 2023
1
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PEARTREE TRUST
I report on the accounts of the charity for the year ended 30 September 2022 which are set out on pages 3 to 5.
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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the 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 you as 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:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
R.J. Harman FCA For and on behalf of Spencer Fellows & Co Chartered Accountants 169 New London Road Chelmsford Essex CM2 0AE
Date: 21 October 2023
2
THE PEARTREE TRUST
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022
| General Fund | General Fund | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Receipts: | |||
| Investment activities | 1 | 1,967 | 2,929 |
| Grant received | - | - | |
| Bank interest receivable | 1 | 2 | |
| Sale of CCLA investments | 90,478 | - | |
| ────── | ────── | ||
| Total receipts | 92,446 | 2,931 | |
| ════ | ════ | ||
| Payments: | |||
| Bank charges | 100 | 83 | |
| Grants payable | 2 | 10,000 | 13,000 |
| Legal and professional | - | 623 | |
| Accountancy | - | 1,020 | |
| ────── | ────── | ||
| Total payments | 10,100 | 14,726 | |
| ════ | ════ | ||
| Net receipts/(payments) | 82,346 | (11,795) | |
| Cash funds at 1 October | 15,663 | 27,458 | |
| ────── | ────── | ||
| Cash funds at 30 September | 98,009 | 15,663 | |
| ════ | ════ |
The results shown above represent the continuing activities of the charity.
3
THE PEARTREE TRUST
STATEMENT OF ASSETS AND LIABILITIES 30 SEPTEMBER 2020
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed assets | |||
| Land | 3,333 | 3,333 | |
| ────── | ────── | ||
| Current Assets | |||
| Cash at bank and in hand | 98,009 | 15,663 | |
| Sundry creditors | (1,960) | (1,960) | |
| ────── | ────── | ||
| Net current assets | 96,049 | 13,703 | |
| ──── | ──── | ||
| Investment assets | |||
| Investments at market value | 1 | - | 96,897 |
| ────── | ────── | ||
| Total assets | 99,382 | 113,933 | |
| ═════ | ═════ | ||
| Funds | |||
| General funds | |||
| 99,382 | 113,933 | ||
| ────── | ────── | ||
| Total funds | 99,382 | 113,933 | |
| ═════ | ═════ |
The financial statements were approved by the board of trustees on 16[th] October 2023 and signed on its behalf by
T.D Baker Trustee
4
THE PEARTREE TRUST
NOTES TO THE FINANCIAL STATEMENTS
1. Investments and income for the year ended 30 September 2022
| Investment income COIF Charity Funds Fixed Interest Fund Total |
Holding at 1.1.22 Market Total Value Unit £ 96,897 133 96,897 |
Units 72,854.62 |
Holding at 30.06.22 Market Total Value Unit £ - 118 - |
Units - |
Income | ||
|---|---|---|---|---|---|---|---|
| 2022 2021 |
|||||||
| £ £ 1,967 2,930 |
|||||||
| 1,967 2,930 |
2. Grants paid in the year ended 30 September 2022
A total of 2 grants were made totalling £10,000. Both grants awarded were £5,000.
5