OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← The Slavanka Trust

2024-12-31-accounts

Digitally Signed Document

Document ID: 83EA44070ECEF2

Document Details

SLA351-Charity accounts (final)-JL-20250821- Filename: 162420-371[565113].PDF Client of: Carter & Coley

Signature Details

Name: John Owen
Email: secretary@theslavankatrust.org
Date & Time: 05/09/2025 13:27:35 PM (BST)
IP Address: 209.35.64.143
Signing Statement: John Owen agrees and approves the contents of
this document.

Digital Certificate

The approved PDF file has been digitally certified.Please check the Digital Certificate information in your PDF viewer to verify the Digital Certificate authenticity and the PDF has not been tampered with.

On behalf of: Carter & Coley
PDF digital certificate: IRIS Software Group Limited
Digital certificate issued by: GlobalSign

Please keep a copy of this document for your records. Carter & Coley is powered by IRIS OpenSpace.

REGISTERED COMPANY NUMBER: 03648722 (England and Wales) REGISTERED CHARITY NUMBER: 1072342

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE SLAVANKA TRUST

Carter & Coley Limited Chartered Accountants and Statutory Auditor 3 Durrant Road Bournemouth Dorset BH2 6NE

THE SLAVANKA TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Report of the Independent Auditors 5 to 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Notes to the Financial Statements 12 to 16

THE SLAVANKA TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024

TRUSTEES R W H Barker
N M Coombs
R F Dowdy
P V Lindon
J H Simmons
D Cook
R Shelley
COMPANY SECRETARY J M Owen
REGISTERED OFFICE 103 Argentia Place
Portishead
Bristol
BS20 7QS
REGISTERED COMPANY 03648722 (England and Wales)
NUMBER
REGISTERED CHARITY 1072342
NUMBER
AUDITORS Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE
SOLICITORS Gregg Latchams Ltd
7 Queen Square
Bristol
BS1 4JE

Page 1

THE SLAVANKA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisation

The trustees are responsible for the overall management and control of the charity. The trustees met four times during 2024 working under the chairmanship of Rev J H Simmons. The administration of the charity has been carried out by John Owen.

Objectives and activities

The objective of The Slavanka Trust is to advance Christianity in particular by the advancing of funds to support Christian educational and/or residential ministry. The charity's policy is to support other Christian organisations worldwide by the making of grants and partnering with other organisations that share similar objectives.

Investments

Page 2

THE SLAVANKA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Review of developments, activities and achievements

During 2024, ministry partnership has continued with Christian Youth Enterprises, Great Wood Trust, The Scargill Movement, The Oakes, Hants & Dorset Camps and Yorkshire Camps. Their ministries continue to benefit from the partnership with The Slavanka Trust, which is actively pursuing the possibility of new ministry partnerships with other Christian residential ministries.

All project loans are being repaid in line with the agreements made with the recipient charities. A new loan of £250,000 has been advanced to The Oakes Trust as a bridging loan to enable them to purchase new property whilst selling an old one. This was fully repaid, with interest, on 15th May 2025.

During 2024 grant applications were received from organisations based in the UK but working in residential Christian ministry and education in different parts of the world, including Africa, Europe and the UK. Forty four grants were made in 2024. Please see the website at www.slavankatrust.org for details.

The Trustees had four meetings during 2024 to consider the applications and to approve grants. Resources for making grants arise entirely from investment returns receivable from both funds. All available income has been allocated.

Reports from the recipients of assistance from The Slavanka Trust are requested on a regular basis. These indicate that the grants made and the support given have made a significant difference to the effectiveness of the recipient charities in carrying out their Christian charitable activities.

Risks and uncertainties

The Board regularly reviews the key risks facing the charity. The external risks, over which the Board has no control, include a decline in the income streams flowing from its investments and a decline in the value of its investments. The trustees have delegated much of the responsibility of managing the income streams and assets to Rathbones.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Slavanka Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

THE SLAVANKA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

In so far as the trustees are aware:

AUDITORS

The auditors, Carter & Coley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 21 August 2025 and signed on its behalf by:

J M Owen - Secretary

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST

Opinion

We have audited the financial statements of The Slavanka Trust (the 'charitable company') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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 performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In order that we can understand the legal and regulatory frameworks that apply to the company we have utilised our existing knowledge of the business and which has been supported by discussions with directors. The audit team are briefed on these laws and regulations so that they can remain vigilant for non-compliance throughout the entire audit process.

We have made enquiries of directors regarding their knowledge of any instances of fraud and we have investigated unusual transactions and unexpected relationships.

Audit procedures are designed to respond to risks of material misstatement due to irregularities, including fraud.

As a result of our risk assessment procedures, we have planned and performed the following procedures to identify non-compliance with laws and regulations described above:

Due to the inherent limitations of an audit, there is an unavoidable risk that, despite properly planning and performing our audit in accordance with auditing standards, some material misstatements may not have been detected.

Auditing standards limit the audit procedures required to identify non-compliance with other operational laws and regulations to enquiry of directors and management and inspection of any correspondence. If a breach of operational regulations is not evident from relevant correspondence or disclosed to us, an audit is unlikely to detect that breach. In addition, the further removed non-compliance with laws and regulations is from the events and transactions included in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, the risk of not detecting material misstatement from due to fraud is higher than the risk of one not being detected through error as fraud may involve deliberate concealment through collusion, forgery, misrepresentations and intentional omissions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees 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 the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Carter & Coley Limited

Chartered Accountants and Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 3 Durrant Road Bournemouth Dorset BH2 6NE

21 August 2025

Page 8

THE SLAVANKA TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
INCOME AND ENDOWMENTS FROM
Investment income
2
EXPENDITURE ON
Raising funds
Investment management costs
3
Charitable activities
Charitable activities
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2024
Unrestricted
Designated
Total
fund
fund
funds
£
£
£
173,348
-
173,348
22,893
-
22,893
22,893
-
22,893
228,556
-
228,556
251,449
-
251,449
136,276
-
136,276
58,175
-
58,175
4,574,978
-
4,574,978
4,633,153
-
4,633,153		 2023
Total
funds
£
151,280
21,676
21,676
236,225
257,901
92,747
(13,874)
4,588,852
4,574,978

The notes form part of these financial statements

Page 9

THE SLAVANKA TRUST

BALANCE SHEET 31 DECEMBER 2024

Notes
FIXED ASSETS
Investments
Investments
6
Social investments
7
CURRENT ASSETS
Debtors
8
Cash at bank
CREDITORS
Amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
10
Unrestricted funds
TOTAL FUNDS		 Unrestricted
fund
£
4,218,099
377,500
4,595,599
17,519
22,675
40,194
(2,640)
37,554
4,633,153
4,633,153		 Designated
fund
£
-
-
-
-
-
-
-
-
-
-		 2024
Total
funds
£
4,218,099
377,500
4,595,599
17,519
22,675
40,194
(2,640)
37,554
4,633,153
4,633,153
4,633,153
4,633,153		 2023
Total
funds
£
4,404,439
142,500
4,546,939
-
91,056
91,056
(63,017)
28,039
4,574,978
4,574,978
4,574,978
4,574,978

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 10

THE SLAVANKA TRUST

BALANCE SHEET - continued 31 DECEMBER 2024

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 21 August 2025 and were signed on its behalf by:

J H Simmons - Trustee

The notes form part of these financial statements

Page 11

THE SLAVANKA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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 corporation 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.

Page 12

THE SLAVANKA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

2. INVESTMENT INCOME

Other investment income
Deposit account interest
Current asset investment income
Investment dividends
3.
INVESTMENT MANAGEMENT COSTS
Portfolio management
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
5.
TRUSTEES' REMUNERATION AND BENEFITS		 2024
£
52,961
390
41,418
78,579
173,348
2024
£
22,893
2024
£
2,640		 2023
£
40,174
4,384
19,782
86,940		 2023
£
40,174
4,384
19,782
86,940		 2023
£
40,174
4,384
19,782
86,940
151,280
2023
£
21,676
2023
£
2,620

The trustees received no remuneration during the year (2023: nil).

Trustees' expenses

Expenses of £1,064 (2023: £936) were paid during the year to trustees, principally to cover travel expenses to board meetings and visits to organisations to which Slavanka have advanced grants.

Page 13

THE SLAVANKA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

6. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
There were no investment assets outside the UK.
Investments are included at market value at the balance sheet date.		 Listed
investments
£
4,404,439
1,179,249
(1,501,865)
136,276
4,218,099
4,218,099
4,404,439

7. SOCIAL INVESTMENTS

MARKET VALUE
At 1 January 2024
New in year
Repayments in year
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Loans
£
142,500
250,000
(15,000)
377,500
377,500
142,500

Page 14

THE SLAVANKA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Amounts owed by group undertakings
Prepayments and accrued income
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Amounts owed to group undertakings
Accruals and deferred income
10.
MOVEMENT IN FUNDS
At 1/1/24
£
Unrestricted funds
General fund
4,574,978
TOTAL FUNDS
4,574,978
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
173,348
(251,449)
TOTAL FUNDS
173,348
(251,449)		 2024
£
15,724
1,795
17,519
2024
£
-
2,640
2,640
Net
movement
in funds
£
58,175
58,175
Gains and
losses
£
136,276
136,276		 2023
£
-
-
-
2023
£
60,497
2,520
63,017
At
31/12/24
£
4,633,153
4,633,153
Movement
in funds
£
58,175
58,175

Page 15

THE SLAVANKA TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are
Incoming
resources
£
Unrestricted funds
General fund
151,280
TOTAL FUNDS
151,280		 At 1/1/23
£
4,588,852
4,588,852
as follows:
Resources
expended
£
(257,901)
(257,901)		 Net
movement
in funds
£
(13,874)
(13,874)
Gains and
losses
£
92,747
92,747		 At
31/12/23
£
4,574,978
4,574,978
Movement
in funds
£
(13,874)
(13,874)
as

11. RELATED PARTY DISCLOSURES

Ransome Trust Limited

A subsidiary of The Slavanka Trust.

During the period The Slavanka Trust provided a loan to Ransome Trust Limited of £15,724 (2023 amount owed to Ransome Trust Limited: £60,497). This balance is shown in other debtors repayable within one year. It is interest free and repayable on demand.

Page 16