THE FRANK PEARSON FOUNDATION STATEMENT OF ACCOUNTS 5 APRIL 2024
THE FRANK PEARSON FOUNDATION TRUSTEES, ANNUAL REPORT for the year ended 5 APRIL 2024 Collslitution The Trust was founded by the late Mrs Mollie Jeanette Pearson (the Settlor) by means of a Trust Deed datcd 7 June 1979 linder which the Settlor declared that the Trust should hold ¢ertain investments which she had previously transferred to it on trust for such charitable institutions or such charitable objects as the trustees should select. The Trust is governed by the provisions of the Trust Deed. Objectives attd #etivities The objectives are to distribute the income arising from the settled fund atnongst charities at the absolute discretion of the Trustees. The Trustees have continued theÉr policy of giving discretionary investment management powers lo Messrs Barclays Wealth, Stockbrokers, with the obj¢ctsv¢s of achieving a balance of income and capital appreciation in order to retain the real valuc of the ineome available for distribution. The incoTne arising. which has increased from the previous year, will be distributed at the discrction of the TrLlStees to a variety of charitable bodies selected by them in accordance with thc PTQVl5ions of the Trust Deed. When reviewing the objectives the trteeS have considered the Charity Cotnmissioners Guidance on public benefit. Achievements during the year The trustees have deferred donations to charitable organisations to the following year. Investment Policy There are no restrictions on thc TTUSt's power to invesi. The investment strategy is set by the Trustees who consider the income requirements, the risk profile and the Investment Adviser's view of the Tnarket prospects in the medium term. This strategy is sct within an ovcrall pols¢y such that capital funds are invested in low to medium risk investments in the hope that capital appreciation exceeds inflation over the lerni under review. Re5erYes Policy The TrteeS aim to Tnaintsin unrestricted capital funds, which are the free reserves of the Trust, at a level which will generate annual income sufficient to meet the desired level of grants and th¢ Cost of supporL management and administration.
THE FRANK PEARSON FOUNDATION TRUSTEES, ANNUAL REPORT {continued) for the year ended 5 APIUL 2024 Status The Frank Pearson Foundation 15 a registered charity - number 278884. governing do¢ument trt d¢¢d of 7 June 1979. Prin¢ip¥l office CriTnple Farni Crimplc Lane Harrogate HG3 IDF Trustees Mrs I I Pearson Mr D A F Pearson Wheawill & Sudworth Trustees Limited (Directors.. D M Butterwortli, A Hayer, M J Hindle. D Eastham, R Turner) Bankers Leeds Building Society 105 Albion Street Leeds LSI SAS Investment advisers Barclays Wealth I Park Row Le¢ds LSI SAB
THE FRANK PEARSON FOUNDATION TRUSTEES, ANNUAL REPORT (continued) for the year ended 5 APRIL 2024 Statcmcnt of Trustees, respollsiblllties The Trustees are restx)n$ible for preparing (he Annual Report and th¢ financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genernkly Accepted AccountiDg Prarti¢e). The law applicable to charities in England & Wales requires the Triistees to prepare financial ststements for each financial y¢ar whi¢h gyiy¢ a true fair view of the state of affairs of tl)e chariry and of the incoming Tesources and appliltiOn of resources of tbe charity for that period. In preparing these financial statements. the Trustees are required to: select suitable accounting policies aud then apply them consistently,. make judgements and estimate5 that are re&son&ble and pnÈdellt', state whether applicable accounting standards have been follow¢d. subj¢¢t to any material departur¢s disclosed and explained I the financial statsments., prepare the fjnancial statements on the going concern basis unl¢ss it 15 inappropriate to presume that the charity will continue in oatIOn. Th¢ Trust¢¢s ar¢ r¢spon5ible for keepiiig proper accounting r¢¢oids thai di511os¥ with rc(1sonablc accuracy at any time tlie financi81 position of the charity and enable them 10 ensure that the financial %tatements comply with the Charities Aet 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of tl)e I'rust Deed. They are also responsible for sateguarding the assets of the chariry and hence for taking asonable steps for the prevention and dete¢titsn of fraud and other irregularities. Mr D A F Pe8rson Trus 18 March 2025
THE FRANK PEARSON FOUNDATION STATEMENT OF FINANCIAL ACTIVETIES RECEIPTS AND PAYMENTS ACCOUNT for th¢ year ended 5 APRIL 2024 2024 2023 Unrestricted Unrestricted General Trust funds Funds Total Total Investment Income From investnients Building society interest 21,180.17 520.43 21,180.17 520.43 19.406.10 16.26 Total Income 21.700.60 21,700.60 19,422.36 Expenditure on: Barclays Wealth charges Wheawill & Sudworth Limited Book c05t debtor written off {8,375.78} 1,272.00 (394.191 (8,375.78) 1,272.00 (394.19) {8.369.90) {1,272.00) Total expenditure (7,497.97) {7,497.971 (9.641.90) Net income l (expenditure) 21,700.60 (7,497.97) 14.202.63 9,780.46 Net gain / {loss) on dist)osal of on investments 5,024.89 5,024.89 2,704.76 Net movement in funds 21,700.60 (2,473.08) 19,227.52 12.485.22 Re¢on¢ili8tion of fuDds: Total funds brought forward 46,984.42 667,912.72 714,897.14 702,411.92 Total fund5 carried fonvard 68,685.02 665,439.64 734,124.66 714,897.14
THE FRANK PEARSON FOUNDATION STATEMENT OF ASSETS AND LIABILITIES- UNRESTRICTED FUNDS 5 APRIL 2024 2024 2023 QUOTED INVESTMENTS {at cost) As at 5 April 2024 653,519.15 654,421.77 DEBTORS Siindry d¢btors 655.67 921.15 BANK BALANCES Leeds Building Society Barclays Wealth (Stockbrokers) 67,079.65 12.870.19 45,584.99 15.241.23 79,949.84 60,826.22 Accruals (1,272.00) 734,124.66 714,897.14 Represented by unrestricted funds: TRUST FUND As at 6 April 2023 Surplus / (deficit) for the year 667,912.72 12,473.08) 673,577.86 (5,665.14) 665,439.64 667.912.72 INCOME ACCOUNT A5 at 6 April 2023 Surplus / (deficit) for the year 46,984.42 21,700.60 28.834.06 18,150.36 68,685.02 46,984.42 734.124.66 714,897.14 These financial statements were approved by the Trustees and authoris¢d for issue on 18 Mawh 2025 and were signed on their behalf by.. Mr D A F Pearso Charity Number.. 278884