Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE Company R•gist•rèd Numbèr.. 02394165 CharSty Registerèd Numb8r.' 801819 PECAN IA Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) CONTENTS Page Reference and Administrative Details of the Charity. its Tntstees and Advise Trusts8s' R8port Statement of Trustsos, R•sponslbllltl•s 10 Independent Audltors. Report on the Financlal Statsments 11- 14 Stat8ment of Financial Activities Balance Shoot Stat•m•nt of Cash Fl¢>wJ 17 Notes to th• Flnanclal Statoments 18-44 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trusts8S Paul Jones, Chair of Truslees Eleanor Orr. T￿aSurer Helen Palmer (appointed 6 December 20221 Omorinola Obembe ITe5igned 25 April 20221 Ali50n Inglis Jones (resigned 6 May 20221 Esenam Aqubretu (appointed 6 December 20221 David Porter Iresiqned 12 September 20231 bert A¢heampong 8er¢hie Bonike Bracewell Iresigne(J 12 September 20231 Dora Dixon-Fyle {re$￿Thed 6 Odober 20221 Isabel Lennox Fiona Philippa Tudor lappointed 6 December 20221 Jennifer 8rown (appointed 6 December 2022) Terryna D'souza lappoinled 6 December 20221 Company reglstered number 02394165 Charlty r•gl8t•r8d numb•r 801819 Roglstsred offl¢e 121A Peckham High Street London SE15 5SE Company 8ocrètary Christopher Price Senlor management Christopher Price- Chief Executive Officer Magni Sylvie Bis$ileu - Head of Finan￿ and Resou￿5 (resigned 25 November 20221 Deborah Hayman•Nkhoma- Head of Services Sharon Hunt- Head of Community Food Projects (resigned 26 September 20231 Independ•nt audltor MHA Statutory Audrtor 6th Floor 2 London Wall Place London, United Kingd¢Jll EC2Y SAU Page 1 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Bankers Barclays Bank plc United Kingdom House 180 Oxford Street London W1D 1NN CCLA Senator House 85 Victoria Street London EC4V 4ET Solicitors Grant Saw 110-114 Norman Road Greenwich London SE10 9EH Page 2 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Ilmltsd by guar4nto0) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Tru5tee5 of Pecan present their report and financial stslernents for the year ended 31 March 2023. Pacan's Charitablè Objècts Pecan is governed by rts Memorandum and Articles of Associalion. These state that Pecan's objects are.. lal To advance the Christian religion. Ibl The relief of unemployment for the benefft of the public in Such way$ as may be thought fit, including providing training and other assistance to help people find employment. Icl The relief of poverty particularly among unemployed people. Idl To preserve and protect the physical environment for the benefit of the public by the promotion of waste reduction. re-use, reclamation and recycling and the use of recycled products. Polici88 to further our Obj8cts In Mareh 2020 Pecan's Board of Directors agreed the revision of the Vision, Values and Ethos statements followng a period of consultslion wth stsff and volunteers. Mission 'Reslore futures and see an end lo poverty in all rts IoTm$' We aim to 4chieve this through equipping people in our community both pracli¢ally and emotionally to believe In their polentsal,. Vlslon "Transforming lives through kindness, belief, hope" Valu•$ Pecan offers a breadth of interventions which comes together through working from our values of Kindness, Belief and Hope. These values underpin the culture of the Charity. Klndn•$$ Embracing diversty and loving every person lor who they are Honestly building every person's confidence in their own unique capability. B8ll•f Believing in the potential of each and every member of our diverse community Persevering alongside through every challenge. Hopg Starting, living, and ending every diverse and unique encounter in hope -1 thank foodbank for supplying me with food and other essentials at this time of crisis." "Peckham Pantry has been amazing. I honeslly can't praise you guys enough, thank you." "Now I feel l am brimming with hope whereas before I felt utter despair." "l used to cry every day before I met you: now I feel better." "l am so grateful for all you have done for me." "The staff at Pecan were really supportive." "You really made an impact on me and opened a new door for me for the future." people Ethos As a Christ-cenlred organisation. Pe¢an seeks to treat all people with dignty, openness and respect, demonstrats'ng Jesus, grace and love in acts'on. Respect Pecan respects all clients provided that they treat members of staff or volunteers in the same manner. Page 3 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Ilmltsd by guar4nto0) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Culture The culture of the staff and volunteer team is grounded in Pecan's ethos as an inclusive Chrisl-¢entred organisation. This is demonstrated in the way all interact vAth each other. Everybody aims to show kindness and respect, seeking in each encounter to uplift people vhth honesty and to be regarded as a trusted partner. Pecan's Charitable Objectives: Pecan aims to achieve these goals through practical objectives that aim lo To address the multiple needs of all involved and work towards their social inclusion, through the development and delivery of holistic projects. To work with and 5UPPOrt local churches in meeting the practical needs of the community. To challenge inequality and Inju5th"ce on a local and national level, with and for our community. Uniqueness Our aim 15 to seek lo serve people in a way that empowers them to gain control of their lives. Our heart continues lo be in Peckham wth outreach across the borough of Soulhwark and other London boroughs. Tw$tso8 The Trustees of the Chanty who held office during the year and lo the date of this report are listed on page 1. Structure, Governan¢• and Manag•m•nt Gov•rnlng Document Pecan is a Charitable company limited by guarantee. incorporated on 12 June 1989 and registered as a Charity on 21 July 1989. The company was established under a Memorandum of Associats'on wrth the Charity Commission whi¢h estsblished the objecls and p¢)wer$ ol the charrtable ¢ompany and is governed under ils Articles of Association. In the event of the company being wound up members are required to contribute an amount of up lo £1. Ro¢rultm•nt and Appolntment of MOM￿r$ and Trustees M8mbgrs Membership is open lo churches that sign and continue lo affimi the Churches Together Slalemenl of Faith and whose principal place of worship is srtualed in Peckham or the London Borough of Soulhwark. Once accepted for membership a senior church leader I'SCL") from each member church I'member Church") is invited lo be the representative of their Member Church. They have the opportunity lo nominate a different person I'subslilute") from their Member Church lo attend meetings and vote on behalf of the Member Church. Neither SCL'S nor Substitutes can be currenty employed by Pecan. Members are invrted to an annual meeting. The annual meeting musl include Pecan'5 Annual General Meeting and may a150 Include". A speaker invited to give a P￿sentatIon about a Christian response lo a specific area of soaal jusli¢ela¢tion A forum session lo discuss Christsan social action in Southwark The members of the company act as guarantors to the liability of £1 each. The Board of Directors The Dirertors of Pecan are also Trustees of the Charity. The Board meets quartedy and in a number of sul> committees,. they set policy and directson for the Charity and oversee the work of the Chief Executive Officer. Page 4 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Ilmltsd by guar4nto0) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 l of the directors are Christians and are church attendees and members- they voluntsrily help Pecan lo maintsin ils Christian ethos and a￿ not ￿munerated. The Board of Directors I'The Board,) is made up of people who have experience and expertise relating lo Pecan's work in providing training and support for the marginalised and unemployed. The Board may appoint new Director5, erther as a replacement of a Director or as an additional Director. lo the Board. Such appointments musl be confirmed by election atthe next Annual General Meetsng. Appointment ofthe Secretsry is the Board's function. New Trustees are recruited by advertising through newsletters to OUT member and supporter netmrk. The diversity In background and skills of the Tru51ees is regulady reviewed a5 we aim lo recruit Trustees with distinctive experience in their fields. The Board may delegate its powers to s￿￿cOmMitteeS consisting of members ofthe Board who have expertise in that particular area of management. All proceedings and decisions made by the sub-commrttee are reported lo the following full Board meeting. New Trustees partiupale In a fvll indudion programme upon appoinlmenl. Sonlor Management The management consists of the Board of directors (who a￿ not remuneratedl. the Chief Executive Officer ICEOI, the Head of Services, and the Head of Food Services. The day-t¢>day management of the Charity is the responsibility oflhe CEO. Staff remvneralion is benchmarked every three years by an HR consutsnl. They use comparison information provided by Croner and NCVO and compare this wlh other Christian charities wlh whom the consultant is in touch and able to survey anonymousty. The report is presented to the Board of directors who decide and approve the salaries of each pay grade. Oporational Stru¢turn All programs of work are managed by project managers. Senior management provides support and oversight of projects and ensures that standards are maintained across the or9anisation. Senior management a150 lakes the lead on applying for new contracts and the strategic planning and monitoring of the organisalion. P8can and oth8r charltl8sloryanlsatSons In order to achieve Pecan's objects, the Charity works in partnership wth l¢xal, nitional and sometimes inlemalional organisations and govemmenl agencies vthilst retaining a focus on ils London neighbourhood. Rl8k Ass8ssm8nt The Charity rnainlains a risk register. It 15 presented lo the Board by the CEO at each quarterfy meeting. significant risks are identrfied. and mrtigaling actions agreed and monrtored * subsequent meetings. Pecan considers strategic, economi¢, operational. reputational. legal and wmplian¢e risks. Porformance statistics Numbers of¢ll¢nts su Foodbank eo lesu Peckham Pant visits Women's Services women referred to services HOurBank active members To ether Café ened November 2022 Em lo ment Su ort ramme re Cost of Livin successful a 1icats.ons Totsl 2020r21 18,978 6,164 125 162 NIA 576 NIA 26.005 2021￿2 9,363 15,014 2022r23 11,433 16,585 138 NIA 389 719 3,769 33.033 140 NIA 850 NIA 25.717 istrations Page 5 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Ilmltsd by guar4nto0) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Pecan's Southwark Foodbank distributed over 110 lonnes of food. This fed 7,130 adults and 4,303 children. 12021122." 112 tonnesl. Food was supplied through supemiarkel Collections, FairsharelFelix. Bankuet, churches, schools and colleges. individuals, and communty groups. Some purchases were made lo keep staples available, and there were also undocumented donations to foodbank centres. Peckham Pantry distributed 72 tonnes of heavily discounted food12021122.' 84 lonnesl lo produce 357,000 meals for 3.583 adults and 1.938 children. The Pantry received 16.417 visrts and is staffed by members of Staff as well as volunteer ambassadors who themselves have benefftted or are continuing to benefrt from the Pantry. This was Peckham Pantry's second full year as a 6 day a week operation and the number ofvisits has continued lo increase dramatically. One client reported that thanks to her membership of the Pantry, she has been able lo clear her debt of £3.000. The largest issue for the Pantry has continued lo be a regular Supply of good food. Wlh the right foods in stock. the numbers coming to the pantry will continue lo grow. P8can's Women's Sgrvices supported over 200 women with a monthly 4 x monthly and 2 x quarterly wellbeing pack, 1,296 1..1 mentoring sessions were delivered by advocates and 143 workshops were delivered in person and online. Many women commented on the wellbeing packs being a real lifeline. especially If they were not able to engage in in-person meetings. Women a￿ referred by partners such as Probation. Pause, Advance, Women in Prison and Hibiscus lor a safe space for women lo access setvices, as well as join in with community actsvities such as a women's choir or wellbeing sessions. HOurBank HOur8ank exists to combat isolation and encourage s¢xial integration through workshops, outings and limebank exchanges of voluntary work. There We￿ workshops on creative writing. creative expression, and discussion groups., outings lo Bu¢kingham Palace, the Bank of England, Homiman Museum and South London Gallery.. and a Christmas party. The team made wellbeing calls and sent out monthly wellbeing packs. Due lo funding issues, HOurB4nk was closed in September and re$urre¢led as Together which is run wlhoul dedicated staff, mainly by volunteers. In the year to closure. 390 hours of voluntary service were exchanged. Together is a caf&$tyle forum vthich promotes communty and reduce$ isolab'on. Founded as a 'warm space,, weekly sessions are based on conversation and activities such as crafting, games or dress-making. Together provides a place lo sociali5e ￿￿th other5 might be struggling with isolation, loneliness, or depression. It is a safe space for people to meet wlh advisers who can help wlh t1ebl management and related issues. Employmont Support Steps2Success Iworking with parents of primary school children) received the final 17 registrations, Positive Turn Around Iworking wth people wth criminal records) received the final 7 applicants before the service closed in September. Pecan ended a 12 year contract with National Career5 Service followng a change in the lunding mechanism. Before the close in September 335 people were served. From October lo March Pecan suppcsrted 359 people 7Mlh CV and job search support. Christmas vouchers.. Our Christmas campaign appealed for donations to provide £50 supermarket vouchers lo people in need. People were referred by Pecan's Women's Service or Employment Support teams,. local primary schools and charrtable projects such as Bede House and Christians Against Povety. 70 vouchers were distributed. These are some of the ￿Mments of recipients.. 'This voucljer was a lovety surpnse and extrpmety helpful. My daughter has been in ljospital ljaving a bone maffow transplant and chefftolherapy all through the sumffler so when we were finally out it was hard with mon8y. So having this vouch&r helped and lin so thankful lo you all.. °The voucher helwl so much over the Chnstmas perh￿ ft was a massNe rel￿rt0 have it. Tljankyou again." Thank you so much for your kindness to ffle and ffty ch￿1￿￿ dufing suGh a drtfKult time. I put the voucher towards g&tting food essentiats during Chiistmas. tt ￿ an experience that is so appreciat8d. Thank you." The voucher was such a massrve help for us. R iwght us xmas dinner with all the trimmings and the k￿S were so happy to have been able to have xrnas dinner. The smiles on Iheirface made my xmas day brilliant." Page 6 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Ilmltsd by guar4nto0) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 °The voucherhelpedlo buy Gore ingredi8nls like Gookmg 0￿, fresh meatandgood qualty fwrt and veg meaning w8 had a heatthy happy Christmas! Thank you againl" °It has made a drfference to us this Chnstmas. It is a very d￿r￿Ul1 time for us especially with nsing costs and having support IS amazing." .1 would like to say thank you very much forthis Chnstmas voucher wh￿h helped me a lol. I managed lo buy a lot of food wilh il so il was very useful forme as well as easy to use. Thank youl" °Thank you, dear Genevieve. That voucher I recewed frofft you was helpful especially because I had a new- born that helped me buy foffliula so helplul. so I take the occasion to thank you and Southwark Foodbank. I very much appreciate your sensilrvily. Once again thank you.- .1 was verypleased lo receNe my vou¢herand rt made 8 huge impact forme and my son.. 'The voucher was very h&lplul to me and my kmts. So, thank you v8ry much!Il' .1 was extremely grateful for Ihe voucher al Christmas it realty helped e8s8 our wony8s and it s lo know there are people out there who care. Thank you." Cost of Llvlng Hard8hlp Fund.. Betsveen November and March Pecan were a community partner with Soulhwark Council Cost of Living Fund. Pecan over this lime referred 3,769 households to receive £100 10 support wrth winter cost$. of these 3,064 were suc¢es$ful wlh mo$1 of the rejections being due lo already applying to the fund. This generated over £300.000 into the local economy. Volunto8rn Voluntwr ststl¥tl¢s Avera e number ol volunteers r month Avera e number of hours volunteered er month Avera e number of hours donated er volunteer Value London Livin Wa 2020￿1 46 614 13.35 £66.089 2021r22 2022r23 31 406 13.10 £58 244 400 11.75 £52.974 Volunteers are essential to the services being able to go beyond a basic response. They provide additional resources. friendship, and skills in the running of every aspect of Pecan. This 15 what makes such a difference lo the experience everyone who visits Pecan receives. We have seen a healthy number of volunteers ending their volunteering by finding employment at Pecan or other local organisations. Volunteers are welcome in every project and in our central servi￿, but Southwark Foodbank and Peckham Pantry continue to hold the vast majority of volunteer posts due lo the nature of their operation. Wthout the compassion and dedication of our volunteers, Southwark Foodbank would not have been able to meet the challenge of so many who experienced food insecurty. Thank you to each and every one of you. Fundraising During the year we have continued to work FeAon Fundraising are contracted to apply to charitable trusts on behalf of Pecan. Applications and letters are agreed and sent by either Head of Services or the CEO. We paid £11,928 for their services and they have securedlreceived pledges for £198,048 12022 £156.0881. The Head of Services directly manages the ¢onta¢l wth Felton Fundraising. wlh support from the Partnerships Manager. Pecan is regulated by the Fundraising Regulator. In 2022123 no fundraising complaints were received. Page 7 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Ilmltsd by guar4nto0) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Pecan'5 Partnership Manager manage5 our communrty and corporate fundraising. Thi5 involve5 working with local businesses. faith groups and edu¢abonal eslablishmenls. They also manage a database of supporters. social media, and external communications. Clients are never required to contribute or become financial supporters of Pecan. Newsletters with financial requests only go to individuals who have asked to be on our supporters list. Contracts The CEO manages the process ofbidding for contracts. Bids areWr￿en either by the CEO or project managers. Pecan lends not to be the prime contractor on bids and seeks to be a preferred sutrrfontraclor. In the last year an external bid-WTiling consuAant was engaged for just one bid. Premises Over the year we used our premises to support communrty activities and generate income. Two third sector organisalions use desk space". Prosper 4 and Soulhwark Everywoman's Cenlre. Our meeting rooms were not used by any community groups during the year. Cost of Llvlng Crlsls 920/0 of Pecan's survey respondents said that they are anxious124%1 or very worried168%1 by price increases. 95%1230A and 720/0) said that they were anxious or very worried about energy price rises, with 53% saying that they are unable lo keep their home wam and 56% saying that they cannot eat regularfy. This supports Southwark Council's report that 52% olhouseholds in the borough suffer one or more such levels ofdeprivalion. For many. the rising cost of living increases anxiety and causes feelings of hopelessness and depression. 11 can push people into debt, or pul them al nsk ofevithon rf they do not keep up wlh rent or mortgage payments. Besides providing practical help and relief through Foodbank and Peckham Pantry, Pecan aims to inspire hope through 115 Women'5 Services and HOur8ank projects. and hosting personal debt coun5elling 5ession$ delivered in our offices by staff from Thames Reach. Pecan's stsff. volunteers and contacts made referrals and 125 sessions were delivered by Thames Reach. Flnanclal Revl•w Our incoming resources in 2022123 were £1.754.751 (2022- £1.411.541J. The income is a mixture of Reslricled Income of £1. 109.907 (2022 - £T95.556) Whe￿ the fvnder delemines what we spend the money on and Unrestricted Income of £644.844 (2022 - £615.985). The Charrty held equity-based investment decreased in value by £20,374 {2022- Increase of £37,535) which was allocated to the unrestricted fund. Expenditure during the year was £1.755.622 (2022 - £1.720.849) leaving a net deficit before transfers for the year of £21,245 12022 - £271, 773) split as £62,079 restricted surplus (2022 - deficrf £103,395), £79,950 unrestricted deficit (2022- £165,004) and £3,374 endowment deficit (2022- £3,374). Our reslncted fund has increased due lo this yearfs net movement in ￿ndS after transfers to £449,523 (2022- £373,351). The unrestricted fund has decreased due to this year's net movement in funds after transfers to £778,290 (2022 £872,333) of which we hold Designated Funds of £345,612 (2022- £353,415) represents.ng the Fixed Assets and General Funds of £432,678 {2022- £518.9781. Page 8 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Ilmltsd by guar4nto0) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Reserves Total funds held by the Charity as at 31st March 2023 were £1,325,676 (2022 - £1.346,921). The Trustees have reviewed the Charity's need for reserves in line with the guidance issued by the Charity Commission. The Trustees believe that in order to safeguard the Charity's services and the obligations to staff and creditors in the event of delays in receipt of grants, or any shortfall in fundraising Income, six months, running cos15 which equates to £634,544 should be held in free reserves (unrestricted reserves excluding tangible fixed asselsl. Against the target we are holding £432.678 in free reserves al the year end. Reslricled reserves al year end amounted to £449,523 (2022 - £373,351) which have donor-imposed reslriclions and are held in cash al year end bul wll be expended over future financial years. In addition, we have a designated lund of £345.612 (2022 - £353.415J vthich represent the value of the tangible fixed asset and a further Endowment fund of £97,863 (2022 - £101,237) which is also restricted. The designated and endowment funds reflect the investment made by the Trustees over the years in operational assets which are not convertible into cash wthout affectsng the opetalional running of the business and are not therefore considered lo be freely available. The remaining free reseNe held at the year-end amounted to £432,678 (2022- £518,918). During the financial year end the Charity chose lo use an element of Ihis reserve to help deliver our services in areas where fijnding W05 not otherwise available. Pecan is using reserves to ensure we can provide essentsal services during this crisis. We recognise that this 1$ not a sustainable solution and that we wll need lo manage budgets extremely well during the coming year. Inv•stm•nt p•rfornianc• In investing the Charity's assets. the Trustees aim to generate a ￿asOnable income, whilst investing safely, elhi¢ally and in $u¢h a way that they are $uffi¢iently accessible lo support ca$hflow or to cover any funding shortfall. In order to meet these objectives, the Tnjstees invest the bulk of the Charity assets in the CCLA Charity Official Investment Fund ICOIFI and cash. At the end of the year, the Charity held t496,791 (2022 - £645.6T2) in various bank deposrts and £480.9B2 (2022- £501.356) in equty-based investment funds. The diversification and flexibility of the investments coupled wth low interest rates during the year has given Trustees the reassurance thal the dividend received of £7,138 (2022- £13.0351 and interest received of £1,134 (2022- £1,058) were reasonable. We recognise that a loss was made in this financial year. CCLA have Stated that 'financial stocks were especially volatile in the monlh of March. as drfficulties emerged al a handful of inslilulions., CCLA expect markets lo improve in the next financial year In so far as the Trustees are aware.. There 15 no relevant audit infomialion of which the charitable company's auditor is unaware., and The Trustees have taken all steps that they ought lo have taken lo make Ihem5elve5 aware of any relevant audit information and to establish that the auditor is aware of that infomiation. The Trustees are responsible for the maintenance and integrity of the corporate and financial information on the Charity's website. Legislation in the United Kingdom governing the preparation and dis5eminalion of financial statements may differ from legislab.on in otheT junsdictions. This report wa$ approved and authoriseil for issue by the Trustees and signed on its behalf by.. Pal- Paul Jones Chalr Date.. 2510112024 Page 9 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees Ivtho are also the Directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial statements in accordance wth applicable law and United Kingdom Accounts'ng Standard5 Iunited Kingdom Generally Accepted Accounting Piacticel. Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the Charity and of rt5 incoming resource5 and application of resources, including ils income and expenditure, for that period. In preparing these financial stslements, the Trustees are required lo.. select suitable accountin9 policies and then apply them consistently., obseNe the meth¢xls and principles of the Charities SORP IFRS 1021.. make judgements and accounbng esbmates that are reasonable and prudent., stsle whether applieable UK Accounting Standards {FRS 1021 have been foll0v￿d. subject lo any material departures disclosed and explained in the finan¢ial $tstements'. prepare the financial statements on Ihe going concem basis unless il is inappropriate lo presume that the Charity wll contsnue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient 10 show and explain the Charity's transactions and disclose wth reasonable accuracy al any time the financial p0511ion of the Charity and enable them lo ensure that the financial slalemenls comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Chanty and hence for taking feasonable steps for the prevention and detection ol fraud and other irregularilies. In so far as the Trustees are aware.. there is no relevant audit infomialion of vthi¢h the ¢haritsble ￿MpanY'S audf(ors are Unawa￿., and the Trustees have taken all Steps that they gught to have taken to make themselves aware of any relevant audit information and to eslablish thal the audilors are aware of that information. Approved by order ofthe Members of the 8oard ol Tw$lees and signed ¢)n its behalf by.. Paul Jone$ Chair Dale: 2510112024 Page 10 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PECAN Oplnlon We have audited the financial stslement5 of Pecan (the 'Charity'l for the year ended 31 March 2023 which comprise the Ststemenl of Financial A¢ll￿ties. the Balance Sheet. the Statement of Cash Flows and the related notes, including a summary of si9nificant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted A¢¢ounling Practice). In our opinion the financial ststements.. give a true and fair view of the stale of the Charitable company's affairs as al 31 March 2023 and of ils incoming resource5 and applicat￿￿ of resources, including ils income and èxpendrturè for the year thèn ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice". and have been prepared in accordance the requirements of the Companies Act 2006. Bas18 for oplnlon We conducted our audit in accordance wth International Slandards on Audrting IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charrf(able company in accordance wth the ethical requirements that are relevant to OUT audrt of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical re$ponsibilrties in accordance wth these requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate to provide a ba$1$ for our opinion. Con¢lu8ion$ relating to going conc•m In auditing the financial statements, we have concluded that the Trustees. use of the going concern basis of accounting in the Preparation of the financial Statements is appropriate. Based on the work we have perfomied, we have not ldentff￿d any malerial uncertainties relating to events or conditions that, individually or collectively. may cast signrficant doubt on the charitable company's ability to continue as a going concern for a period of at least t￿1ve months from vthen the financial slalemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees V￿th respect to going concern are described in the relevant sections of thi5 report. Page11 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PECAN ICONTINUEOI Olh*r Inforniatlon The other Information comprises the informab.on included in the Annual Report other than the financial stslemenls and our Auditors, Report Ihereon. The Trustees are responsible for the other information Contsined within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwse explicitly stated in our report, we do not express any form ol assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially incon515lent with the financial slalemenls or our kn￿edge obtsined in the course of the audit, Or olheTh*ise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslalemenls. we are required lo determine ¥thether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have pertomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. Oplnlon on othor matters prnBcribfrd by tho Companlos Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the informabon given in the Twslees. Report for the financial year for vthich the financial stslements are prepared is consistent with the financial statements. the TNslees' Report has been prepared in accordance with applicable legal requirements. Matters on vthlch are requlr8d to report by excoptbon In the light of our knowledge and understanding of the charrtable company and ils enwronment obtained in the course of the audrt, we have not identified material misststements in the Trustees, Report. We have nothing lo report in respect of the follo￿7ng matters in relatson lo %thich Companies Act 2006 requires us lo report lo you rf. in our opinion". adequate ac¢ountsng records have not been kept. or retums adequate for our audit have not been received from branches not vi$iled by us.. or the financial statements are not in agreement wth the accounting records and retums,. OT certain disclosures of Trustees, remuneration specified by law are not made". or we have not received all the infomiation and explanations we require for our audit., or the Trustees were not enlrtled lo prepare the financial statements in accordance with the sm811 companie5 regime and take advantage of the small Companies, exempts'on$ in preparing the Trustees, Report and from the requirement lo prepare a Strategic Report. Re$pon$lbilitie$ of Truste A5 explained more fully in the Ststement of Trustees. Responsibilities, the Trustees (who are also the Directors of the charitable Company for the purposes of wmpany lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair wew. and for such intern31 control as the Trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Page 12 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PECAN ICONTINUEOI In preparing the financial statements, the Trustees are responsible for a35essing the charitable cornpany's ability to continue as a going concem, di5c105ing. as applicable. matters related lo going concem and using the going concern basis of accounting unless the Trustees erther intend to liquidate the charitable company or lo cease operations, or have no realistsc alternative but to do so. Audltors. re$ponsibllltlo$ for tho audlt of the financi*l statements Our objectives are to obtain reasonable assurance about vthether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and 10 Issue an Auditor5. Report that Includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI wll atways delecl a material misstslement when rt exists. Misslatemenls can arise from fraud or error and are considefed material if. individualty or in the aggregate. they could reasonably be expected to influence the ewiomi¢ decisions of users laken on Ihe basis of these financial $tatemenl$. Irregularit'es, induding fraud. are instsnces of non-compliance Trmth laws and regulations. We design procedure8 in line wlh our responsibilrtj'es. outlined ai#)ve. lo detect material misstslements in respect of irregularities, including fraud. The extent to vthich our pl￿ed￿re$ are ￿pable ol detecting irregularrties, including fraud is detailed below.. Obtsining an understanding of the legal and regulatory frameworks that the entity operate$ in, focusing on those laws and regulations that had a direct effect on the financial stalemenls.. Enquiry of management lo identfy any instsnces of knovm or suspected instsnces of fraud,. Enquiry of management and those charged wth govemance around actual and potential litigation and claims., Enquiry of management and those charged governance about any instances of non-compliance wlh lows and regulab'ons., Reviewing the control systems in place and lesling the effectiveness of the controls., Performing audit work over the risk of management override of controls, including testing of journal entries and other adiuslmenls for appropriateness". Evaluats'ng the business rationale of significant Iransa¢tw)n$ outsKle the nomial course of business,. Reviewing accounting estimates for bias., Reviewing minutes of meetings of those charged govemance. and Reviewng financial statement disclosures and tests'n9 to supporting documentation to assess compliance with applicable laws and regulations. Because of the inherent limitations of an audrt. there is a risk that y￿ wll not delecl all irregulari(ies, including those leading to a material misstatement in the financial statements or non-compliance wth regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as V￿ will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irTe9ularitie5 occurring due to fraud rather than error, as fraud Involve5 intentional concealment. forgery, collusion. omission or misrepiesentslion. A further description of our re5ponsibilrties for the audTt of the financial statemen15 is located on the Financial Reporting Council's websrte at.. www.frc.or -ukJaudrtorsre5 nsibilitie5. Thi5 description fomis part of our Audrtors, Report. Page 13 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PECAN ICONTINUEDI U$9 of our r&port This report is made solely lo the chantsble company's Members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken $0 that we might stsle lo the Charitsble company's Members those matters we are required to state to them in an Auditors. Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its Members, as a body, for our audit work, for this report, or for the opinions we have formed. LS71 Sudhlr Slngh FCA IS•nlor Statutory Audltorl for and on behalf of MHA Statutory Auditor London, United Kingdom Dale.. 29 January 2024 MHA is the trading name of Ma¢lntyre Hudson LLP. a limrted liats'lity partnership in England and Wales (registered number OC3123131. Page 14 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 Unrnstricted fvnds 2023 Restricted Endowment funds funds 2023 2023 Total funds 2023 Total fijnds 2022 Note Incom8 from: Donations and grants Charitable activities Other trading activities Investments 438,792 195,048 2,732 8.272 277,222 832.685 716,014 1.027,733 2,732 8,272 611,244 784,664 1,540 14,093 Total Income 1,109.907 1.754,751 1.411,541 Expendlture on: Raising funds Charitable adivitie$ 69,465 634,955 69,465 1.686,157 60,319 1,660,530 9,10 1,047,828 3,374 Total exp•ndlturo 704,420 1,047,828 3.374 1.755,622 1.720,849 Not In¢omo1 1oxponditur•l b•fore nat110388sllgalns on Invostments Net Ilossesll9ains on investments {59,5761 62.079 13,3741 18711 1309,3081 15 {20.3741 120,3741 37,535 N•t lexpondlturolllncomo Transfers between lunds {79.9501 62.079 13.3741 121,2451 1271,7731 19 114.0931 14.093 Nat movgm8nt in funds {94.0431 76,172 13,3741 121,2451 1271,7731 Roconciliation of funds: Ttsl81 funds brought forward Net movement in funds 872,333 {94,0431 373,351 76,172 101.237 13,3741 1.346,921 121,24SI 1.618,694 1271,7731 Total funds carried foTrvard 778.290 449.523 97.863 1.325,676 1,346,921 All income and expenditu￿ derive from continuing operations. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 18 to 44 form part of these finanaal 5ts1ements. Page 15 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Limitèd by Guarantsè) REGISTERED NUMBER: 0239416S BALANCE SHEET AS AT 31 MARCH 2023 2023 2023 2022 2022 Flxod as$•ts Tangible assets Investments 14 443,$64 480,982 454,742 501,356 15 924,546 956,098 Current assets Stock8 Debtors Cash al bank and in hand 16 17 20,182 90,160 496,791 36,519 130,593 645,672 607,133 812,784 Creditors.. Amounts falling tjue wlhin ¢)ne year 18 1206,0031 1421,9611 Not current a•••ts 401,130 390,823 Total not a888ts 1,325,676 1,346,921 Charlty funds Endowment fvnds Reslricled fund$ Unrestricted funds 19 19 19 97,863 449,S23 778,290 101,237 373,351 872,333 Total funds 1,325,676 1.346,921 The Trustees acknovAedge their responsibilities for complwng wth the requirements ol the Companies Act 2006 th respect to accounting records and preparation of ffinancial statements. The financial statements have been prepared in accordance the provisions applicable to entities subject lo the small companies regime. The financial statements We￿ approved and authorised for issue by the Truslees and signed on their behalf by.. Pal- Paul Jones Chair Date.. 2510112024 Eleanor Orr TreaSu￿r The notes on pages 18 to 44 fomi part of these finanaal statements. Page 16 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash Ilows from operating activibes Nel cash used in operating ath"vitses 21 {157.1531 1147,8721 Cash Ilo*¥ from invasting activiti89 Investment income Purchase oftsngible fixed assets 8.272 14,093 12,0791 14 Not cash provided by inv•sting activities 8,272 12,014 Chango In ¢a$h and cash •qul¥al•nts In the y￿r Cash and cash equivalents at the beginning of the year {148,8811 1135,8581 645,672 781,530 Cash and cash equlvalents at th• end of th• year 22 496,791 645,672 The notes on pages 18 to 44 fom part of these finanaal Stslements. Page 17 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Gonoral Infomiatlon Pecan is a charitable company limited by guarantee and is registered wth the Charty Commission Icharty Registered Number 801819) and Registrar of Companies (Company Registration Number 1023941651 in England and Wales. In the event of the Charty being vrt)und up. the liabilty in ￿SpeCt of the guarantee is limrted to £1 per member of the Chanty. The address of the registered office is given in the Charity information on page 1 of these financial ststemenls. The nature of the Charity's operations and pnncipal activities are.. lal To advance the Christian religion. Ibl The relief of unemployment lor the benefft of Ihe public in such ways as may be thought fil, including providing training and other assistance to help people find employment. Icl The relief of povety in particular among unemployed people. Idl To preserve and protect the physical environment for the benefit of the public by the promotson of waste reduth"on, re-use, reclamatson and recycling and the use C>f recycled products. Accountlng poll¢l•$ 2.1 8asls of praparatlon of financSal ststsments The financial slalemenls have been prepared in accordance wlh the Charities SORP IFRS 1021- Accounting and Reporting by Charities." Stslemenl of Recommended Practice applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companie$ Act 2006. Pecan meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially reeognised at hisloncal cost or transath.on value unless olhers*ise staled in the relevant accounting policy. The financial statements are presented in pound steding, vknich is ihe presentats'onal and functional currency of the Chanty, and are rounded to the nearest pound. The significant accounting policies applied In the preparation of these financial statements are sel out below. These policies have been consistenlfy applie(I lo all years p￿sented unless otherwise ststed. Page 18 Z(tho Sign Do¢Jmenl ID." 4ACA6CF88-W.6NG85HCEANEVGPJCD1KBXFErnNLRSWNB45U5UOYE PECAN IA Company Llmltsd by Guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ounllng poll¢lo$ l¢onllnuod} 2.2 Going ¢on¢om The Trustees have assessed the use of going concern and have considered possible events or conditions that mi9ht cast significant doubt on ihe abilty of the Charity to continue as a going concem. This assessment has included a review of the Charty's liquidty and solvency, which involved the review of a budget prepared by management for a period lo 31 March 2025, and the nature of the Charity's muMi-servi¢e model. The Trustees have therefore made this assessment for a period which they consider is the loreseeable future, being at least one year from the dale ol the approval of these financial statements. Based on this analysis the Trustees have concluded that there are no conditions or events anticipated that create a material uncertainty, and they can have a reasonable expectalion that the Charty has adequate resources to conts'nue in operational existence for the foreseeable luture. The Charity therefore continues to adopt the 90ing concern basis in preparing these financial stslements. 2.3 Income All income is recognised once the Charity has entitlement to the income, il is probable that the income will be received and the amount of income ￿ceIvable can be measured reliably. For donations lo be recognise(I the Charity VAII have been notified of the amounts and the settlement dale in writing. 11 there are condibons attached to the donation and thi$ requires a level of performance before entitlement can be obtained then income is deferred until those condits'ons are fully mel or the fuifillmenl of those Conditi'ons is vthin the ￿ntrts1 of the Charity and il is probable that they wll be fulfilled. Income from trading actiwties indude$ income eamed from fundraising events and trading a¢livilies lo raise fund$ for the Chanty. Income is received in exchange for supptying goods and services in order to raise funds and is recognised when entrfement has occurred. The Charrty receives govemment grants in respect of furthering ts charitable objectives. Income from government and other grants are recognised al fair value when the Charity has enlillemenl after any performance conditions have been mel. il is probable that the income wll be received and the amount can be measured reliably. If entrfement is not met then these amounts are deferred. Investment income is earned through holding assets for investment purposes such as shares and property. 11 Include5 dividends and interest. Where rt is not practicable lo identify investment management costs incurreJlh Flatyw5 C¥1 81M88 tl)n*lon8 Churchès Agent 3 Lid Al Samis (J)urclF CANlJefwdl ckntons LK aThJ Ea81 LLP Bra￿On Baptsl C*urch FLsh W WJter 5t&4 thurch *phant arKI Ca5 Qty FW (￿￿ch mFtntecosts1 ￿Urch F￿ T¢mp e L￿e C*ar*l Sl Barnabas C*wch- tXthKh St thrsiopher's W8knorth Parish of F*rrE F41 Garden Ftr¥JJclb)Th Ltd Comrnunlty •nd SGho9 Carrberwel and Fèckham Labour Party G)ose (>een Fyinry Styjtlwark Frwnds Sl Jrn ts (>e¥l pr￿￿ry Scho Soultwark ￿8rd¢S Sydney Bbce Cttarrtab￿ Trusl The &'g Gwe Trusl bury Te￿graF* Trusl Trussel Trust Lknded St S8vK)ur$ Vethas Charrtat4& FowdatK Freq Fte55 t*ta Ltd nws Saii$lw FLC Sakash Effierp￿e Sthrthbank hvestffenl F*sear¢h eeklÈck FèNal% Cmsulwts Page 44