REGi>fERED CHARITY NUMBER: 1095722
The Sylvia Short Educational Charity
Contents of the Financial Statements for the Year Ended 31 March 2026
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
| Detailed Statement of Financial Activities | 12 |
The Sylvia Short Educational Charity
Report of the Trustees
for the Year Ended 31 March 2026
The trustees present their report with the financial statements of the charity for the year ended 31 March 2026. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity is to promote education by the making of grants for fieldwork and extra mural studies to persons who:
(1) are under the age of 19; and
(2) are in need of financial assistance; and
(3) are attending school or college in the counties of Herefordshire or Worcestershire (with a preference for Herefordshire).
We support schools in Herefordshire with activities and events outside the main curriculum. The Sylvia Short Educational Charity is dedicated to fostering growth and development in Herefordshire's young people by providing access to enriching extra-curricular activities that promote learning, achievement, and personal flourishing. Schools can apply for grants ranging from £500 to £1,000 to support individual students or groups of children.
Public benefit
The trustees can confirm that they have compiled with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission. Significant activities that we undertook during the year that demonstrate public benefit are set out below.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
We have handed out about £38,000 in grants to schools in Herefordshire. These grants have enabled school children in Herefordshire to take part in a wide range of extra mural activities throughout the year.
A part of this included funding provided in partnership with The Courtyard Theatre in Hereford in two parts. Firstly as the funder of their youth theatre bursary scheme for those in financial need and secondly as the funder for their coach transport scheme for those schools wishing to attend an event but needing assistance with transport costs.
We reached around 30 schools in Herefordshire out of a total of around 105. We are aiming to expand the reach to more schools, particularly those in outlying areas of the county.
FINANCIAL REVIEW
Financial position
Total income reported for the year £26,789 (2025: £76,188) upon which a deficit before gains and losses of £33,679 (2025:£22,483 surplus) has been reported.
The net assets of the charity at the year end were £1,278,012 (2025: £1,173,008),
Investment policy and objectives
The charity's capital is invested in low-medium risk areas of the stock market (risk level 3 on a scale from 1 - 6) and is managed by the stock brokers Rathbones Wealth & Investment. Their representative, Ms Michele Rogers attends several meetings each year.
She gives a detailed account of the fund's performance and answers questions put by trustees.
Reserves policy
At the year end total funds amounted to £1,278,012 (2025: £1,173,008), of which £1,175,972 (2025: £1,049,033) relates to the endowment funds and £78,735 (2025: £123,366) to fixed assets investments leaving £23,305 (2025: £609) as the total free reserves of the charity.
The running cost of the charity are minimal therefore the trustees consider that a minimum reserve of £2,000 is sufficient.
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The Sylvia Short Educational Charity
Report of the Trustees
for the Year Ended 31 March 2026
FUTURE PLANS
We have set a grant budget of £50,000 for the next financial year, we will review our progress during the year and at it's end, in order to set the following year's budget.
The charity is planning to widen its profile in Herefordshire and increase the number of schools who apply for grants.
This has involved expanding our relationships with a number of other charities in the county. This includes our involvement with HVOSS (Herefordshire Voluntary Organisations Support Service).
Our charity manager is focussing on our website and social media to connect to more schools. We have begun to establish relationships and having meetings with the Multi-Academy Trusts that have been established.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charity constitution
The charity is constituted by Deed of Trust dated 30th August 2002 and amended 10th June 2005 and 10th December 2010.
Recruitment and appointment of new trustees
We currently have 8 trustees, however we are looking at increasing our trustees to about 10.
The charity should have 3 nominated trustees and 5 co-opted trustee.
The nominated trustees must be appointed as follows: 2 by The County of Herefordshire District Council and 1 by Worcester County Council.
Induction and training of new trustees
The trustees must give each new trustee, on their first appointment: (1) a copy of this scheme and any amendments made to it;
(2) a copy of the charity's latest report and statement of accounts
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1095722
Principal address
Thorne Widgery Accountancy Ltd 2 Wyevale Business Park Kings Acre Hereford HR4 7BS
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The Sylvia Short Educational Charity
Report of the Trustees
for the Year Ended 31 March 2026
Trustees
N Eve (Chair from 15/1/2026) J Dammann (resigned 31.1.26) C Morrison D Harbour Dame O Evans B White E Corcoran A Carter (appointed 29.1.26) P Murray (Chair until 15/01/2026) (resigned 15.1.26)
We currently have 8 trustees, however we have had several changes in trustees and other roles this year.
Paul Murray retired as the chair of trustee on January 15th 2026, Nicholas Eve took over the role of chair from this date.
Amelia Carter was appointed our new Charity Manager on March 28th 2025. She took over from Deborah Densley formally at the meeting on May 8th 2025. Amelia resigned as Charity Manager at the end of January 2026 and became a trustee in February 2026.
Jenna Dammann resigned as a trustee at the end of January 2026 and took over as Charity Manager from February 2026.
Independent Examiner
Thorne Widgery Accountancy Ltd Chartered Accountants 2 Wyevale Business Park Kings Acre Hereford Herefordshire HR4 7BS
Bankers
The Co-operative Bank plc P.O. Box 250 Skelmersdale WN8 6WT
Investment Advisers Rathbones Investment Management The Senate Southernhay Gardens Exeter EX1 1UG Approved by order of the board of trustees on ............................................ and signed on its behalf by:
..................................................... N Eve - Trustee
Page 3
Independent Examiner's Report to the Trustees of The Sylvia Short Educational Charity
Independent examiner's report to the trustees of The Sylvia Short Educational Charity
I report to the charity trustees on my examination of the accounts of The Sylvia Short Educational Charity (the Trust) for the year ended 31 March 2026.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Lisa Weaver FCCA
Thorne Widgery Accountancy Ltd Chartered Accountants 2 Wyevale Business Park Kings Acre Hereford Herefordshire HR4 7BS
Date: .............................................
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The Sylvia Short Educational Charity
Statement of Financial Activities
for the Year Ended 31 March 2026
| INCOME AND ENDOWMENTS FROM Notes Investment income 2 Other income Total EXPENDITURE ON Raising funds 3 Charitable activities Promoting educational activities away from the school classroom Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 26,789 - 26,789 - 48,724 48,724 - (21,935) 123,975 102,040 |
Endowment fund £ - - - 11,744 - 11,744 138,683 126,939 1,049,033 1,175,972 |
31.3.26 Total funds £ 26,789 - 26,789 11,744 48,724 60,468 138,683 105,004 1,173,008 1,278,012 |
31.3.25 Total funds £ 33,688 42,500 76,188 9,862 43,843 53,705 (48,058) (25,575) 1,198,583 1,173,008 |
|---|---|---|---|---|
The notes form part of these financial statements
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The Sylvia Short Educational Charity
Balance Sheet
31 March 2026
| FIXED ASSETS Notes 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 Unrestricted funds 11 Endowment funds TOTAL FUNDS |
Unrestricted fund £ 78,735 - 25,759 25,759 (2,454) 23,305 102,040 102,040 |
Endowment fund £ 1,175,972 - - - - - 1,175,972 1,175,972 |
31.3.26 Total funds £ 1,254,707 - 25,759 25,759 (2,454) 23,305 1,278,012 1,278,012 102,040 1,175,972 1,278,012 |
31.3.25 Total funds £ 1,172,399 24 17,415 17,439 (16,830) 609 1,173,008 1,173,008 123,975 1,049,033 1,173,008 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on . .......................................... and were signed on its behalf by:
............................................. N Eve - Trustee
The notes form part of these financial statements
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The Sylvia Short Educational Charity
Notes to the Financial Statements for the Year Ended 31 March 2026
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Going concern
The Trustees have considered the future of the organisation in light of the current economic pressures in the UK and feel satisfied that the income will not be adversely affected, however if it were, savings in expenditure can be made in the short to medium term.
Due to these factors, the Trustees believe the organisation is a going concern for the foreseeable future of at least twelve months from date of signing these financial statements.
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 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.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as a basis financial instrument. Basis financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
continued...
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The Sylvia Short Educational Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2026
1. ACCOUNTING POLICIES - continued
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.26 | 31.3.25 | |
| £ | £ | |
| Dividend and interest income | 26,789 | 33,688 |
| RAISING FUNDS | ||
| Investment management costs | ||
| 31.3.26 | 31.3.25 | |
| £ | £ | |
| Portfolio management | 11,744 | 9,862 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.
Trustees' expenses
During the year expenses totalling £100 (2025: £100) was reimbursed to one (2025: one) trustee.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income Other income Total EXPENDITURE ON Raising funds Charitable activities Promoting educational activities away from the school classroom Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) |
Unrestricted fund £ 33,688 42,500 76,188 - 43,843 43,843 - 32,345 |
Endowment fund £ - - - 9,862 - 9,862 (48,058) (57,920) |
Total funds £ 33,688 42,500 76,188 9,862 43,843 53,705 (48,058) (25,575) |
|---|---|---|---|
continued...
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The Sylvia Short Educational Charity
Notes to the Financial Statements - continued for the Year Ended 31 March 2026
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund £ RECONCILIATION OF FUNDS Total funds brought forward 91,630 TOTAL FUNDS CARRIED FORWARD 123,975 6. INDEPENDENT EXAMINERS' FEE The independent examiners' fee for the year was £1,554 (2025: £900). 7. FIXED ASSET INVESTMENTS MARKET VALUE At 1 April 2025 Additions Disposals Revaluations At 31 March 2026 NET BOOK VALUE At 31 March 2026 At 31 March 2025 There were no investment assets outside the UK. Cost or valuation at 31 March 2026 is represented by: Valuation in 2026 The Council holds the following on behalf of the Charity: Royal Bank of Scotland 120 ordinary shares Unilever Plc Ord 288 ordinary shares |
Endowment fund £ 1,106,953 1,049,033 |
Total funds £ 1,198,583 1,173,008 Listed investments £ 1,172,399 616,751 (673,126) 138,683 1,254,707 1,254,707 1,172,399 Listed investments £ 1,254,707 |
|---|---|---|
On the basis that Herefordshire council cannot confirm that it holds these shares, there is no value for them included in the accounts.
continued...
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The Sylvia Short Educational Charity
| Notes to the Financial Statements-continued for the Year Ended 31 March 2026 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Other creditors 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 11. MOVEMENT IN FUNDS Unrestricted funds General fund Endowment funds Endowment fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 26,789 Endowment funds Endowment fund - TOTAL FUNDS 26,789 |
At 1.4.25 £ 123,975 1,049,033 1,173,008 Resources expended £ (48,724) (11,744) (60,468) |
31.3.26 £ - 31.3.26 £ - 2,454 2,454 31.3.26 £ - Net movement in funds £ (21,935) 126,939 105,004 Gains and losses £ - 138,683 138,683 |
31.3.25 £ 24 31.3.25 £ 14,130 2,700 16,830 31.3.25 £ 14,130 At 31.3.26 £ 102,040 1,175,972 1,278,012 Movement in funds £ (21,935) 126,939 105,004 |
|---|---|---|---|
continued...
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The Sylvia Short Educational Charity
Detailed Statement of Financial Activities for the Year Ended 31 March 2026
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Endowment funds Endowment fund TOTAL FUNDS Comparative net movement in funds, included in the above are as Incoming resources £ Unrestricted funds General fund 76,188 Endowment funds Endowment fund - TOTAL FUNDS 76,188 |
At 1.4.24 £ 91,630 1,106,953 1,198,583 follows: Resources expended £ (43,843) (9,862) (53,705) |
Net movement in funds £ 32,345 (57,920) (25,575) Gains and losses £ - (48,058) (48,058) |
At 31.3.25 £ 123,975 1,049,033 1,173,008 Movement in funds £ 32,345 (57,920) (25,575) |
|---|---|---|---|
The endowment fund was established following the death of Sylvia Short, who left her entire estate . to form the Charity.The estate initially comprised her house together with other land and property in the area.
In the early years, the charity held these properties directly.However, the trustees subsequently determined that holding property was not the most effective means of fulfilling Sylvia's wishes, and the properties were sold accordingly.
The proceeds were placed into an investment fund in 2009 and have remained invested since that time.
12. RELATED PARTY DISCLOSURES
Amelia Carter was appointed as Charity Manager on March 28th 2025. She took over from Deborah Densley formally at the meeting on May 8th 2025. Amelia resigned as Charity Manager at the end of January 2026 and became a trustee in February 2026.
Jenna Dammann resigned as a trustee at the end of January 2026 and took over as Charity Manager from February 2026.
No payments were made to either individual whilst acting as a trustee of the charity
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