BDB PITMANS CHARITABLE TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022
BDB PITMANS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2022 The Trustees a pleased to Pfesent Iheif annual Trust$. report IcKJelher with the financial statements of the Charity for the year ending 5 Apnl 2022. Reference and administrative information Name ofcharty 808 PITMANS CHARITABLE TRUST (the Charityl Charity Regislralton Number 803150 Address ol the Principal off of One Barthok)mew Close. London ECIA 7BL the Charity Trustees John Matthew Stephenson Hen Laura Ral¢lrffe Iretired 4 July 20221 Sheilagh Paliicia Magee John Chnstopher Hutchinson lappoinled 4 July 20221 Solicrtors BDB Pitrnans LLP One Barthok)rnew Close London EC1A 7BL Stockbroker5 Rathbones Investment Management 8 Finsbury Circus London EC2M 7AH Independent Examiner Julra Strike TEP One Barthok)mew Cbse London EC1A 7BL Structure Governance and Management Goveming document Deed dated 1 March 1989 established the Trust. New Trustees are recruited from the partners of BDB Prtmans LLP by a wo¢e5s ofconsultation amongst the partners. The managing partner is usualty a Trustee The Trustees have considered all material risks facing the Charity arKI confirm that produreS are in pla¢e lo manage those risks. Bircham Dyson Bell LLP merged on 1 December 2018 wrth Prtmans LLP lo become 8D8 pr(mans LLP. The Trustees agreed to arrange for Ihe Charity to be renamed the BDB Pitmans Char1table Trust Ipreviou51y known as Blrcham Dyson Bell Charitable Trust) on 10 June 2019. Objectives and Activities The Trust was established in 1989 wrth general charitable objects to apply the Trust Funds and the Income thereof to or towards such ¢harrtable purposes. charrtable Instrtutions or charitable foundations in such manner and In such proportions as the Trustees shall in their absolute discretion think fil The Trustees therefore Inlend lo use Ihe funds for the Publ benefit. 18626932 1
BDB PITMANS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2022 As mentioned In the 2013 Trustees. report the Crossjey Fund closed bLrt grants to the existing Crossley Fund beneficiaiies continued to be paid from the General Fund. The Trustees are willing to accept kgacy funds vthich may carry special objectives. The De Marwitz Fund is held on such temis and Considers application5 to provide for the care of the sick and in particular for those suffering from Aids. The applications for the General and Empkjyee Funds are considered W11hin the general charitable objectives as received_ The Trustees. mindful of their responsibilities of public benefrt, in consurtation with the lirm's corporate sccial responsibility group. decided to establish a separate fund lo encourage charrtable giving by Ihe staff The employees a encouraged to recommend causes lo Ihe TAJslees which Could be supported from the funds rais. The Fund is held separately as the Employee Fund. Achievements and Performance Donations received In the General and Employee Funds are usually distributed lo charilies eilher designated by the donor or decided upon by the Trustees and Empk)yees. There are no sel resliiclions on these funds. No donations were male over the period from the De martZ F¢Jnd which continues to hold investments. The Trustees mel formalty in June and December to ConSer appeals recewl Irom all sources In connection with the General Fund. whh mel their criteria of being for the public benefrt They have been pleased wi(h the feedk from causes prewously supported and continued lo offer support to them without making a commrtment to filtu hjnding. There have iEen several new causes supported. Employee Fund donalK)ns Ibolh Committed and new} were paid to charrties chosen by the employees at BDB Pilmans LLP Financial Review The Trust received income of £40.12212021". £41.8501. At the year end. the Trust Funds were held in investments and cash. No administratn lees are paid to BDB Pitmans LLP. who administer the Fund. Grants of £29.324 were made during the ye8r12021." £27.6861. Investment Policy- The Trustees have instructed Ralhbones Inveslmenl Management to afvise on Iheif investrnenls in the De Marwitz Fund. The Trustees, policy is to rnaintain a balan between capital and income and a medium level of risk. as defined by the managers. has been specified The Trijslees weive six monthly reports frorn the manager and review the perfomiance of the funds against the indi¢es. The Tru51ees consider these reports and meet wth the manager al least once a year 11 is their intention to conlinue lo review the @omiance al their rular meelings. The investment portfolio showed an increase in market value over the year. with unrealised gains of £235 12021.. unrealised gains of £7.4771 Disposals were made during the year which resulted in realised gains of £579 12021." gains of £6441. The Trustees continue lo Consider the impact on the Inveslmenl portfolio ol the war In Ukraine and the current economic drfficulties In both Income and Capital terms and do not have concems about this Charrty as a going concem.
BDB PITMANS CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2022 Reserves Policy The Trustees intend lo expend Ihe income aiising in the year to surtable cau5e5. Any surplus will be retained on the Unrestn¢ted Fund rher than as a $pecffj reserve Given the funds In hand. they should be in a position to meet any commrtmenls lather than relying on a specifi'c reserve. particularly as if is not their polty lo commit lo projects. The Truslees consKler the level of reserves Shown in the accounts with a VEW to making addrtional dislributK)ns in futu years. STATEMENT OF TRUSTEE RESPONSIBIUTIES The Trustees are responsible for preparing the Trustee5' Report and the financial slemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢¢epled Ac¢ounting Practi1. The law appli¢able lo ¢harities in England & Wales requires Ihe Trustees lo prepare financial statements for each financial year which give a true and faif view of the slate of affairs of the Charity and of ihe incoming resources and application of resources of the Charty fot that peri(xJ. In preparing these hnancial slalements, the Tnjstees are required to.. Select surtable accounting p1¢S and then appty them consistentty,. Observe the methcrtjs and Pnnclp in Ihe CharitEs SORP". Make iudgemenls and estimates that are reason*le and prudent.. State whether applrable accounting standards have been follcv4e¢J. su'ect lo any material departures disclosed and explained In the financial statements". Prepare the financial statements on the 90ing concem basis unless il is inappropriate to presLJme that the Charity will contsnue in bLtsiness. The Trustees ale responsib for keeping proper accountin9 records that disclose with reasonable accuracy al any lime the financial position of the Chaity and enab them to ensure that the financial statements compty with the Charrties Act 2011. the Charrty IAc¢ounts and Reportsl Regulations 2008 and the provisions of the Trust deed. They are also respK)nsible for safeguarding the assets ol the Charity and hence for taking reasonable steps for the prevenb.on and detection of fraud and other Irregularities. The Trustees conlimi that they have Complied with the duly In SeclK)n 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Chatty Comrn15$10n in determining the activities undertaken by the Charity Date.. 3 ?&s Trustee 18836932 1
BDB PITMANS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2022 Income and Expenditure Notes Expendable Endobvment 2022 General Fund 2022 Total Funds 2022 Total Funds 2021 Income and Endowments from- Donations lincluding gift aid) 39.324 39,324 41,171 Investments 679 Other in¢ome- deposrt inleresl 14 14 Total 39,338 40,122 41,850 Expenditure on: Fundraising costs 437 437 393 Charitable expenditure.. 29,324 29.324 27.686 Total expenditure 437 29,324 29,761 28.079 Net income I (expenditure) 347 10,014 10,361 13.771 Other recognised gains and losses Gains Ilossesl on irhveslments Realised Unrealised 579 235 579 235 644 7,477 Net movement in funds 1,162 10,014 11,176 21.892 Reconciliation of funds.. Balances brought forward from PrevU$ year 46.539 68.278 114,817 92,925 Balances carried forward at year end 47,701 78.292 125,993 114,817 The notes on pages 7 lo 11 form part of the financial slalemenls A breakdown of the Funds In the 2020Q1 Statement ol Financrdl ActNrtes is shown on page 11 Iwrthoul 201912020 comparativesl
BDB PITMANS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022 I repx)rt on the accounts of the Fund for the year ended 5 April 2022. which are set out on pages 5 10 Respective responsibilities of trustees and examiner The Trustees are responsib for the preparation of the accounts. The Trustees consider that an aud1t is nol required for Ihis year under sectK)n 144121 of the Charrties Act 2011 Ilhe 2011 Act) and that an Independent examination is needed. Having satisfied Myse that the charity Is not subject lo audf( under ¢ompany law and is eligible for independent examination. rt is my responsibilrty lo.. examine the accounts under section 145 of the 2011 Act". follow the procedures laid down in the general Directions gwen by the Charity Commi8sion tjnder section 14515llbl of the 2011 Act". and slate whether PartVar matters have come lo my aitention. Basis of independent examiner's report My examination was carned out in accordance with the general Directions given by the Charity Commission. An examination includes a review of Ihe accounting records kept by the charity and a comparison of Ihe %counts presenled wrth those records It also Includes consideration ol any unusual i(ems or disclosures in the &counts. and seeking explanations from you as Iruslees concerning any such mallers. The procedures undertaken do not provide all the evidence thal would be required in an audit and consequently no ¢)pinion is gNen as to whether the accounts present a 'true and fair view" and the report is limited lo those mattefs set out in the staternent below. Independent examinerfs statement In connection wf(h my examination, no matter has come to my attentKJn'. which gives me reasonable cause to believe that. in any material respeci. the requirements.. lo keep 8ccounting records in accordance with section 130 of the 2011 Act." and lo prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 kl have not been mel.. or lo which. in my opinK)n. attention should be drawn in order lo en*le a proper understanding of the accounts lo be reached Julia Strike TEP One Bartholomew Close. London. EC1A 7BL Date . 0310W2023 27977 1
BDB PITMANS CHARITABLE TRUST BALANCE SHEET As at 5 April 2022 Notes 2022 2021 Fixed Assets Investments 35.457 34.951 Current Assats Cash at bank 48,848 Debtors 45,CK)O 45.500 93,848 79,866 Creditors 3.312 Net current assets 90.536 79,866 Net Assets 125.993 114,817 Rosees. General Fund Employee Fund Expendab Endowment 10 10 10 74.806 3.486 47.701 60.116 8.162 46.539 125,993 114,817 The notes on pages 7 to 11 form part of the financial statements_ The accounts were approved on behaff of the Iruslees on ... OJ. 02. and svJned on their behalf by Trustee
BDB PITMANS CHARITABLE TRUST Notes forming part of the financial statements 5 April 2022 1 ACCOUNTING POLICIES The following accounting policies have been appl consistently in dealirTrg wlh rtems which are considered material in relation lo the Trust's financ1 slalements. lal General The f1nancial slalemenls have been prepared in aCCdanCe wrth Acwjntsng and Reporting by Charrties". Statement ol Recommended PraCte applicable to chanties preparing their accounts in aO(danCe with the Financial Reporting Standard applicable In the UK and Republic of IreLind ISORP IFRS 10211 second edition IO¢lober 20191. the Charities Act 2011. and UK Generally Accepted Accounting PractJ"ce as rt appIS from 1 January 2019. The financial statements have been prepared lo give a 'lrue and fai¢ view and have departed from the Charities (Accounts and Reports) RegulatnS 2008 onty lo the exlent required to provide a 'true and lair view. This departure has involved lollowng the Charrties SORP IFRS 1021 issued in October 2019 rather than the A¢¢ounting and Reporting by Charities Stslement of Reccrfnmended Praclte effeclwe from 1 April 2005 which has since been withdrawn. Ibl Funds The General Fund comprises unrestricted funds which the Trust are free lo use in accordance wth the charitable objects. The Expendable Endowment Fund (The De Marwicz FuThJl represents Ihose assets which are held for the benefit of charrties a5 directed by the donor. Icl Grantrnaking Grants are recognised when the Trustees have a dec1SK to make a payment and that decision has been ¢tsmmUnated to the recIpnt and rt is probable that payment will tske pkce The recognrtion of any liability will be dependent on any condilK)ns att¥hing to the ccAmmrtmenl Idl Income and Expenditure Income is recognised when the Trusl is entrtled lo the cept and Ihe amount can be measured with reasonable certainty. Expendrture is slated gross and is accounted for when paid. Investment management charges are shown as fundraising costs. all other expenses are Charitab supwrt costs Ine in 20211221. lel Investments Investrnenls represent UK quoled securilies and are staled at market value. In Going Concern The Trustees have Considered the Charws financial FK)srtion and the likely impact of the war in Ukraine and the Current economic crisis on the financial markets and rts future investment income. The Trustees are of the opinion that the charty has adequate resources to continue In operatK)nal existen for the foreseeable future and there are are no mater1al uncertaintEs about the Charty's abilrty to Continue as a 90ing concern.
BDB PITMANS CHARITABLE TRUST Notes forniing part of the financial statements 5 April 2022 2022 2021 2 INCOME FROM L)ONATIONS General Fund - partners. annual paymenl- including tax relur Employee Fund 37.5(M) 1.824 37,500 3.671 OTHER INCOME Investment Income Bank deposit interest 14 40.122 41,171 3 FUNDRAISING COSTS 2022 2021 Rathbones fees 437 393 4 EXPENSES - Charitable Expenditu 2022 2021 Charitable Grants all to institutions The charity made 30 grants to InstitutKJns ftom Ihe General Fund and Employee Fund1£28.7001 and rent giants to individuals1£6241 £29.324 in total. 29,324 27.686 12021 31 grants £26,750 and rent grants of £9361 Total charitablÈ expenditure 29.324 27,686 DISCLOSURE OF TRUSTEES REMUNERATION. BENEFITS AND EXPENSES None of the Trustees have been paid any remuneration or receNed any other benefrts fr¢Jm an employment with their charity or a related entity. no trustee expenses have been in¢uired n¢x have there been any related party transactK)ns In the reporting period that require disclosure. (2021 also nil in all cases} INDEPENDENT EXAMINATION FEES No independent examination fees were charged in 2022 {2021 nill.
BDB PITMANS CHARITABLE TRUST Notes fomiing part of the financial statements 5 April 2022 5 INVESTMENTS Balance 6 April 2021 Net Gainsl (Losses) Balance 5 April 2022 Purchase5 at Cost Disposals UK Quoted Securities 34,951 8.688 8,997 814 35,457 Historic cost as al 5 April 2022 is £28,96512020 . £25.4291 The De Marwicz Fund is the onty fund that holds inveslmenls. Realised gain(lO$ses) Unealised gainsJllosses} 579 235 2022 2021 6 CASH HELD Rathbones Investment Management (De Marwtz Fund) BDB Pilman5 LLP client account 1.238 47,610 1,349 33,017 34,366 2022 2021 7 DEBTORS H M Revenue & Customs - tax repayment Granls receivable 1 S.000 30,000 15.000 30,500 45.000 45,500 8 CREDITORS Unpaid Grants 3.312 3,312
BDB PITMANS CHARITABLE TRUST Notes fomiing part of the financial statements 5 April 2022 9 EXPENDABLE ENDOWMENT Balance 6 April 2021 Balance 5 April 2022 Gainsl (Losses) Incorne Expenditure De Marwicz Fund 46.539 814 47,701 The De Marwicz Fund was set up out of a legacy from the E5ts1e of Miss M De Marwicz to provide care for the 51ck, and in particular those suffering from AIDS 10 ANALYSIS OF ASSETS BETWEEN FUNDS Total 5 April 2022 Investments Cash Debto Creditors Ex ndable Endowment De Marwic2 Fund 35,457 12.244 47,701 General Fund 33.118 45,000 13.3121 74.806 Em lo Fund 3,486 3.486 Total 35,457 45.000 13,3121 125,993 Total 5 April 2021 Investments Cash Debto Creditors Ex endable Endowment De Marwicz Fund 34.951 11.588 46,539 General Fund 14.616 45,500 60,116 Em ee Fund 8,162 8,162 Total 34,951 34,366 45.500 114,817 11 RELATED PARTIES BDB Pitmans LLP received no remuneration from the Charity during the period. There were no staff costs. The Trustees (Sid not receive any iemuneration or reimbufsement of expenses duntyj the peri(Kl. 10
BDB PITMANS CHARITABLE TRUST 2020121 STATEMENT OF FINANCIAL ACTIVITIES Showing the split between the Expendable Endowment and other Funds Income and Expenditure Expendable Endowment Other Funds 2021 Total Funds 2021 2021 Income and Endowment5 from.. Donations linclud1ng gfi aKII 41,171 41,171 Investments 679 679 Total 679 41,171 41.850 Expenditure on- Fundraising costs 393 393 Charrtable expenditure. 27.686 27.686 Total expenditure 393 27,686 28,079 Net income I lexpenditurel 13.485 13,771 Other recognised gains and losses Gains Ilossesl on investmenls Realised Unrealised 644 7.477 7,477 Net movement in funds 8,407 13.485 21,892 Reconciliation of funds- Balances brought forward from previous year 38,132 54.793 92,925 Balances carried forward at year end 46.539 68,278 114,817