2025-03-31-accounts

Charity number: 1107483

SAVANNAH CHARITABLE TRUST

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

SAVANNAH CHARITABLE TRUST

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 5
Independent auditors' report on the financial statements	6 - 9
Statement of financial activities	10
Balance sheet	11
Notes to the financial statements	12 - 23

SAVANNAH CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees

P H Edmonds C O'Connor

Charity registered number 1107483 Principal office 38a High Street Tenterden TN30 6AR

Independent auditors Sumer Auditco Limited 14th Floor 33 Cavendish Square London W1G 0PW

Page 1

SAVANNAH CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report together with the audited financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019.

Objectives and activities

a. Objectives and Aims

The principal objectives of the charity are:

1. To provide support and assistance to charities operating in Tenterden, Kent, and the surrounding area for the benefit of residents of Tenterden, Kent and the surrounding area and the public at large.

2. The provision or assistance in the provision of facilities for recreation or other leisure time occupation in the interests of social welfare, such facilities being provided to the public at large, save that special facilities may be provided to persons who by reasons of their youth, age, infirmity or disability, poverty or social or economic circumstances, may have need of special facilities or services.

3. Such other charitable purposes which are beneficial to the public, consistent with the objects above, as the trustees shall in their absolute discretion determine, throughout the UK and Africa.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Achievements and performance

a. Main achievements of the Charity

During the year, the primary activity of the charity was to make general donations in accordance with the objectives and aims stated above. The donations made by the charity benefit the public principally in the areas of education and social welfare.

Donations made for the year totalled £204,542 (2024: £154,810) including further donations of £16,256 (2024: £15,000) towards supporting the day-to-day operating expenses of a community school in Zambia with which the charity has a long-standing relationship.

During the year the trustees continued to support a wide range of charities and organizations providing facilities for recreation or other leisure time occupation in the interests of social welfare, within the Tenterden area and elsewhere in the UK, in accordance with the charity's objectives. By way of examples:

• £8,159 was donated to Mount Lodge Young Farmers Club, which offers the opportunity for young people and adults with additional needs to engage in fully supervised farming related activities.

• Donations totalling £4,635 were made to local scout councils in Kent.

• Donations of £10,950 were made to the London Beach Golf Club Veterans & Ladies Divisions

• Donations of £40,971 were made to cricket clubs in the Tenterden area.

Page 2

SAVANNAH CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

b. Investment policy and performance

The charity’s policy is to maintain a sound investment property portfolio in order to support its objectives in the longer term.

Losses on investment assets in the year were £480,199 (2024: gains - £18,967). The trustees have invested in property in order to derive a reasonable level of income to fund the trust's charitable activities. They are satisfied with the level of rental income achieved and that investment gains will be achieved in the medium term.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The charity's policy in respect of reserves is to make donations out of income as the trustees see fit whilst maintaining its capital expendable endowment fund in order to support its objectives in the longer term.

c. Financial review

Investment income for the year was £246,451 (2024: £691,560). Total resources expended were £418,222 (2024: £364,500). After losses on investment assets of £480,199 (2024: gains - £18,967), the net decrease in funds for the year was £646,735 (2024: increase - £373,185).

Structure, governance and management

a. Constitution

Savannah Charitable Trust is a registered charity, number 1107483, and is constituted under a Trust deed.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Organisational structure and decision-making policies

All property of the charity is managed by the trustees and all decisions are made by the trustees.

d. Policies adopted for the induction and training of Trustees

The existing trustees are responsible for the induction of any new trustee. This involves awareness of a trustee's responsibilities, the trust deed and the history of the charity.

Page 3

SAVANNAH CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

e. Risk management

The trustees regularly seek to identify and actively review significant risks to which the charity is exposed. In their opinion the only significant risk at present is possible falls in value of investment properties and the possibility that the properties remain unlet for extended periods of time.

Plans for future period

The trustees' plans for the future are to maintain and improve the charity's income in order to maximise the level of charitable donations in furtherance of its objectives.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Page 4

SAVANNAH CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Auditors

The auditors, Sumer AuditCo Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

C O'Connor Trustee Date: 23/12/2025 | 11:08 GMT

Page 5

SAVANNAH CHARITABLE TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAVANNAH CHARITABLE TRUST

Opinion

We have audited the financial statements of Savannah Charitable Trust (the 'charity') for the year ended 31 March 2025 which comprise the Statement of financial activities, the Balance sheet and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 charity'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.

Page 6

SAVANNAH CHARITABLE TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAVANNAH CHARITABLE TRUST (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. 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 course of 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.

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:

• the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

Page 7

SAVANNAH CHARITABLE TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAVANNAH CHARITABLE TRUST (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor 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 an Auditors' report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In order to identify and assess the risks of material misstatements, including fraud and non-compliance with laws and regulations that could be expected to have a material impact on the financial statements, we have considered:

• the results of our enquiries of management and those charged with governance of their assessment of the risks of fraud and irregularities;

• the nature of the entity, including its management structure and control systems (including the opportunity for management to override such controls);

• management’s incentives and opportunities for fraudulent manipulation of the financial statements and;

• the industry and environment in which it operates.

Based on this understanding we identified the following matters as being of significance to the entity:

• laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards and Charities SORP:

• the timing of the recognition of rental income;

• that donations made to other organisations are in accordance with the Charity's objects;

• inappropriate journal entries;

• the valuation of the investment properties carried at fair value; and

• management bias in selecting accounting policies and determining estimates, including the valuation of the investment properties carried at fair value.

We communicated the outcomes of these discussions and enquiries, as well as consideration as to where and how fraud may occur in the entity, to all engagement team members. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised:

• enquiries of managing trustees as to how the entity complies with such laws and regulations and discussion with the same regarding any known or suspected instances of non-compliance or fraud;

• enquiries with the same concerning any actual or potential litigation or claims;

• inspection of relevant legal correspondence;

Page 8

SAVANNAH CHARITABLE TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SAVANNAH CHARITABLE TRUST (CONTINUED)

• obtaining an understanding of the relevant controls during the period;

• obtaining an understanding of the policies and controls over the recognition of rental income and testing their implementation during the year;

• reviewing the recipients of donations as shown in the Charity's records and confirming to supporting documentation;

• performing analytical procedures to identify any unusual or unexpected relationships or unexpected movements in account balances which may be indicative of fraud;

• reviewing the financial statements for compliance with the relevant disclosure requirements; and

• challenging assumptions and estimates made by Trustees relating to the valuation of the investment properties including review of property valuations obtained by the charity at the year end and considering the carrying value of properties for which no valuation had been obtained.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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 Auditors' report.

Use of our report

This report is made solely to the charity'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 charity'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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Sumer Auditco Limited

Statutory Auditors 14th Floor 33 Cavendish Square London W1G 0PW Date: 23/12/2025 | 11:17 GMT

Sumer Auditco Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 9

SAVANNAH CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Note Income and endowments from: Investments 2 Other incoming resources 3 Total income and endowments Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net (expenditure)/income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2025 £ 246,451 5,235 251,686 105,117 313,105 418,222 (166,536) (28,199) (194,735) 1,020,852 (194,735) 826,117	Endowment funds 2025 £ - - - - - - - (452,000) (452,000) 3,866,500 (452,000) 3,414,500	Total funds 2025 £ 246,451 5,235 251,686 105,117 313,105 418,222 (166,536) (480,199) (646,735) 4,887,352 (646,735) 4,240,617	As restated Total funds 2024 £ 691,560 27,158
				718,718
				91,909 272,591
				364,500
				354,218 18,967
				373,185
				4,514,167 373,185
				4,887,352

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 12 to 23 form part of these financial statements.

Page 10

SAVANNAH CHARITABLE TRUST

BALANCE SHEET AS AT 31 MARCH 2025

			2025	2025		2024	2024
	Note		£			£
Fixed assets
Tangible assets	9		215,186			221,910
Investments	11		115,365			115,564
Investment property	10		5,789,500			6,269,500
			6,120,051			6,606,974
Current assets
Debtors	12	47,627			61,367
Cash at bank and in hand		643,266			760,892
		690,893			822,259
Current liabilities
Creditors: amounts falling due within one
year	13	(141,665)			(789,547)
Net current assets			549,228			32,712
Total assets less current liabilities			6,669,279			6,639,686
Creditors: amounts falling due after more
than one year	14		(2,428,662)			(1,752,334)
Total net assets			4,240,617			4,887,352
Charity funds
Endowment funds	17		3,414,500			3,866,500
Unrestricted funds	17		826,117			1,020,852
Total funds			4,240,617			4,887,352

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

C O'Connor Trustee Date: 23/12/2025 | 11:08 GMT

The notes on pages 12 to 23 form part of these financial statements.

Page 11

SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Savannah Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

The financial statements have been prepared on a going concern basis. The trustees have assessed the charity's ability to continue as a going concern and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Subsequent to the year end, the charity refinanced the debts due as part of a deeply discounted securities, due November 2034. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Page 12

SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.4 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives .

Depreciation is provided on the following bases:

• Long-term leasehold property 50 years - Fixtures and fittings 5 years

1.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Investments held as fixed assets are shown at cost less provision for impairment.

1.9 Grants made

Details of the major donations made are disclosed in the Report of the Trustees.

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.10 Concessionary loans

Concessionary loans are carried at the amount received. No adjustment is made for discounting based on Net Present Value.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash at bank and in hand

Cash at bank and 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.

1.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1.14 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Investment income

Unrestricted funds 2025 £ Investment income - investment properties 243,471 Deposit account interest 2,980 246,451 Other incoming resources Unrestricted funds 2025 £ Sundry income 5,235	Total funds 2025 £ 243,471 2,980 246,451 Total funds 2025 £ 5,235	Total funds 2024 £ 690,764 796
		691,560
		Total funds 2024 £ 27,158

3. Other incoming resources

4. Raising Funds

Investment management costs:

Unrestricted funds 2025 £ Property management, letting and other professional fees 14,019 Property repairs and maintenance - Insurance 23,214 Light and heat 399 Rates and council tax 8,219 Interest payable and similar charges on loans 59,266 105,117	Total funds 2025 £ 14,019 - 23,214 399 8,219 59,266 105,117	As restated Total funds 2024 £ 14,387 13,961 16,429 1,050 17,077 29,005
		91,909

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted funds 2025 £ Charitable donations 204,542 Administrative expenses 101,840 Bad debts - Depreciation 6,723 313,105	Total 2025 £ 204,542 101,840 - 6,723 313,105	As restated Total 2024 £ 154,810 82,405 28,653 6,723
		272,591

Breakdown of Administrative expenses

Unrestricted funds	Unrestricted funds	Total funds	As restated Total funds
	2025	2025	2024
	£	£	£
Auditors'remuneration	7,860	7,860	7,860
Consultancy	25,000	25,000	24,000
Accountancy	8,080	8,080	10,332
Legal and professional	24,555	24,555	6,394
Telephone and postage	1,423	1,423	822
Rent	16,940	16,940	10,238
Office costs	650	650	10,283
Computer costs	3,492	3,492	139
Subscriptions	300	300	1,334
Bank charges	208	208	230
Irrecoverable VAT	13,332	13,332	10,773
Total 2025	101,840	101,840	82,405

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Charitable donations

Donations during the year totalled £204,542 (2024: 154,810). An analysis of these donations by nature of activity being supported is as follows:

Nature of activity Education General charitable purposes Community sports Care/health	2025 £ 32,030 65,800 90,909 15,803 204,542	2024 £ 28,870 55,668 48,259 22,013
		154,810

7.

Auditors' remuneration

	2025	2024
	£	£
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts	7,860	7,860

8. Trustees' fees

During the year, there was no Key Management Personnel (KMP) compensation other than the Trustees' fees.

		2025	2024
		£	£
C O'Connor	Fees for legal consultancy fees	25,000	24,000

During the year ended 31 March 2025, no Trustee expenses were reimbursed (2024 - £NIL).

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Tangible fixed assets

Cost or valuation At 1 April 2024 Disposals At 31 March 2025 Depreciation At 1 April 2024 Charge for the year On disposals At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Long-term leasehold property £ 256,173 - 256,173 35,863 5,124 - 40,987 215,186 220,310	Fixtures and fittings £ 8,000 (8,000) - 6,400 1,600 (8,000) - - 1,600	Total £ 264,173 (8,000) 256,173 42,263 6,724 (8,000) 40,987 215,186 221,910

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Investment property

Valuation At 1 April 2024 Revaluation At 31 March 2025	Freehold investment property £ 6,269,500 (480,000) 5,789,500

Valuations of the investment properties are carried out every 5 years for each individual property. Two properties were valued at 31st March 2025.

The historical cost of the investment properties was £6,393,224 (2024: £6,393,224).

11. Fixed asset investments

Cost or valuation At 1 April 2024 Revaluations At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Listed investments £ 1,130 (199) 931 931 1,130	Unlisted investments £ 16,884 - 16,884 16,884 16,884	Other fixed asset investments £ 97,550 - 97,550 97,550 97,550	Total £ 115,564 (199) 115,365 115,365 115,564

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Debtors

Due within one year Rent receivable Prepayments and accrued income	2025 £ 17,986 29,641 47,627	2024 £ 46,232 15,135
		61,367

13. Creditors: Amounts falling due within one year

Other loans Trade creditors Other taxation and social security Other creditors	2025 £ - 17,105 9,897 114,663 141,665	2024 £ 672,092 2,299 3,046 112,110
		789,547

Other creditors includes deferred income of £18,571 (2024: £40,001) which represents rent received in advance for the next quarter. All amounts from previous reporting periods have been released in the current year.

14. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Other loans	2,428,662	1,752,334

Other loans falling due after more than one year comprise a single deeply discounted security deed following a refinancing agreement dated 8 November 2024.

Under this arrangement, the charity consolidated previous financing obligations, including two earlier deeply discounted security deeds and other loans, into one new deed.

The deed has a principal amount of £2,369,426 and a redemption date ten years from the effective date, with a maximum redemption amount of £3,033,066 if held to maturity. The deed may be redeemed early on a pro-rated basis, and no interest accrues on the principal or redemption amount unless there is a default, in which case interest is charged at 2% per annum above Barclays Bank base rate.

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Other financial commitments

The Trustees have a long-standing commitment to support a community school in Zambia. During the year the Trust donated £16,256 (2024: £15,000) to the school. The Trustees had agreed in principle to a 3-year commitment (2022-2024) to provide funding to the school in an aggregate anticipated amount of £43,688 over the 3-year commitment period, all of which was paid. Further payments were made in 2025 and future donations may be made to the school, but nothing formal has yet been agreed in this regard.

16. Financial instruments

	2025	2024
	£	£
Financial assets measured at amortised cost	34,870	63,116
Financial assets measured at fair value	931	1,131
Financial liabilities measured at cost less impairment	2,520,830	2,501,602

Financial assets measured at amortised cost comprise unlisted investments, rent debtors and other debtors.

Financial assets measured at fair value comprise listed investments.

Financial liabilities measured at cost less impairment comprise rent deposits, loans payable, deeply discounted security deeds and accruals.

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds

Statement of funds - current year

					Balance at
	Balance at 1			Gains/	31 March
	April 2024	Income	Expenditure	(Losses)	2025
	£	£	£	£	£
Unrestricted funds
General funds	1,020,852	251,686	(418,222)	(28,199)	826,117
Endowment funds
Endowment funds	3,866,500	-	-	(452,000)	3,414,500
Total of funds	4,887,352	251,686	(418,222)	(480,199)	4,240,617
Statement of funds - prior year
					Balance at
	Balance at			Gains/	31 March
	1 April 2023	Income	Expenditure	(Losses)	2024
	£	£	£	£	£
Unrestricted funds
General funds	697,167	718,718	(364,500)	(30,533)	1,020,852
Endowment funds
Endowment funds	3,817,000	-	-	49,500	3,866,500
Total of funds	4,514,167	718,718	(364,500)	18,967	4,887,352

The Endowment fund represents investment properties acquired from the proceeds of the initial donation to the Trust, the rental income from which is part of the Trust's unrestricted income.

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SAVANNAH CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2025 £ Tangible fixed assets 215,186 Fixed asset investments 115,365 Investment property 2,375,000 Current assets 690,893 Creditors due within one year (141,665) Creditors due in more than one year (2,428,662) Total 826,117	Endowment funds 2025 £ - - 3,414,500 - - - 3,414,500	Total funds 2025 £ 215,186 115,365 5,789,500 690,893 (141,665) (2,428,662) 4,240,617

Analysis of net assets between funds - prior year

Unrestricted funds 2024 £ Tangible fixed assets 221,910 Fixed asset investments 115,564 Investment property 2,403,000 Current assets 822,259 Creditors due within one year (789,547) Creditors due in more than one year (1,752,334) Total 1,020,852	Endowment funds 2024 £ - - 3,866,500 - - - 3,866,500	Total funds 2024 £ 221,910 115,564 6,269,500 822,259 (789,547) (1,752,334) 4,887,352

19. Prior year restatement

The comparative figures for the year ended 31 March 2024 have been restated to reflect a re-analysis of expenditure in order to provide a more accurate presentation. This re-analysis resulted in a reclassification of certain costs between raising funds and administration expenses. The total expenditure for the prior year remains unchanged.

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