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2023-03-31-accounts

111 Forest Lab ° SYLVA 13.3% 2023 Trustees, Report and Accounts SYLVA 66.7% Ji FOUNDATION

Contents

TRUSTEES’ REPORT........................................................ 2 ACHIEVEMENTS, CHALLENGES AND FUTURE PLANS ...... 7 FINANCIAL REVIEW ..................................................... 11 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SYLVA FOUNDATION .............................................. 13 STATEMENT OF FINANCIAL ACTIVITIES ........................ 14 BALANCE SHEET .......................................................... 15 CASH FLOW STATEMENT ............................................. 16 NOTES TO THE FINANCIAL STATEMENTS ..................... 17 HOW YOU CAN HELP SYLVA FOUNDATION ................. 28 ACKNOWLEDGEMENTS 2022-23 .................................. 29

Sylva foresters meeting with partners, funders and a Derbyshire landowner as part of the Defra PIES project.

Front cover:

Top left to bottom right: Sylva wood tutors with participants on the 2022 Summer School; Aerial view of the Sylva Wood Centre, 2022; Fieldwork in Derbyshire; Results of our Forest Lab participants survey; Summer School participants marking timber; Selection of timber logs ready for the Wood School; Three stools produced for the National Trust at the Sylva Wood School; Participants in the 2022 Summer School supported by the V&A Museum.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Trustees’ Report

Reference and administrative details of the charity, its advisers and trustees.

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

Sylva Foundation is an environmental and forestry charity founded in 2009. The charity is active across Britain, with its headquarters in Oxfordshire.

Registration

Charity registered in England and Wales (1128516), and in Scotland (SC041892).

Charitable Company registration number 6589157.

Registered office

Sylva Wood Centre Little Wittenham Road

Principal professional advisors

Banking

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Independent Examiner

Ajay Bahl Wenn Townsend Chartered Accountants 30 St Giles' Oxford OX1 3LE

Insurance Brokers

NFU Mutual Views Farm Barns Windmill Hill Great Milton Oxfordshire OX44 4NW

Long Wittenham Oxfordshire OX14 4QT

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Trustee Board and Staff

Staff

Patrons

Lady Audrey Wood OBE Sir Martin Wood FRS (1927-2021)

Chief Executive

Dr Gabriel Hemery FICFor CEnv

Director of Operations

Trustees

Paul Orsi MICFor

Chair of Trustees

Sarah Taylor

Other Trustee Board members

Dr Mary Barkham Dr Robin Buxton Lucius Cary OBE Luke Hughes Dr James Morison Jim Waterson

Other Staff members

Gwyneth Bradbury Web Developer Joseph Bray Head of Wood School George Dennison myForest Manager Phillip Gullam Senior Tutor Richard Pigott Head of Web Development Oliver Price Web Developer Mariah Splawska Bookkeeper

Many of the Sylva team were lucky to receive a guided tour of the Ercol factory from senior company executives as part of one of our regular team building days.

Advisors and Associates

.

Shems Hadj-Nassar Communications Dr Philip Koomen Furniture & Wood Dr Gill Petrokofsky Science Alistair Yeomans Environmental Resilience

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Structure, Governance and Management

Legal Structure

Sylva Foundation (‘Sylva’ or ‘the charity’) is a charity registered in England and Wales 1128516 and in Scotland SC041892, and a charitable company limited by guarantee 06589157. The company (a private company not having a share capital) was established under a Memorandum of Association (dated 11[th] March 2009, updated by Special Resolution 28[th] March 2013).

The governing body of the charity is the Trustee Board (‘the board’). Up to ten trustees may be appointed to the board. During 2022-23, no trustees retired.

The day-to-day management of the charity is delegated by the Trustee Board to the Chief Executive and carried out by members of staff.

The charity’s registered address is in Oxfordshire, and this is its sole headquarters. Sylva’s activities extend across Britain, and occasionally internationally.

Statement of Trustees’ Responsibilities

The charity’s trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with FRS102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland. The law applicable to charities in England, Wales, and Scotland requires the charity’s trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the group for that period. In preparing these financial statements, the charity trustees are required to:

The charity trustees are responsible for keeping adequate accounting records that:

They are also responsible for safeguarding the assets of the charity and for taking reasonable steps to prevent and detect fraud and other irregularities.

Policies and Procedures

The charity has a range of policies and procedures, which are renewed at the end of each financial year or more frequently as required, with a rolling programme of consideration by trustees. Currently these include:

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Risk Management

The charity trustees are responsible for identifying and managing the major risks facing the charity. Risk management is well-established and is considered in every aspect of our work.

We maintain a Risk Register which provides a comprehensive view of the following areas of risk:

Volunteers

We received highly valuable assistance from volunteers, without whom our work would been much reduced. During the year we continued to benefit particularly from volunteers with professional skills, notably in legal matters, and in communications and marketing.

Our local community near the Sylva Wood Centre is very supportive of our activities, including the annual Artweeks exhibition, taking an active role in supporting our community woodland and orchard. We welcome volunteer conservation work parties onto our estate.

We always welcome enquiries from potential volunteers. Please contact us direct or visit our website: sylva.org.uk/volunteer

The Risk Register is scrutinised annually by the Trustee Board. Following the most recent review in March 2022, the charity trustees confirm that they are satisfied with such arrangements and identified a number of strategic risks which are explained in Achievements, Challenges and Future Plans .

Fundraising Activities

Our work nurturing a wood culture and growing a future is only possible because of the support of donors, funders, and other partners who contribute vital funding. Sylva Foundation is registered with the Fundraising Regulator. Alongside our own high standards in fundraising, we follow its Codes of Practice.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Objectives, Activities and Public benefit

The charity’s objects are set out in the company’s memorandum of association. These are to promote the conservation of the environment for the public benefit consistent with sustainable development principles by:

The charity’s trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing objectives and activities which are described in the section Achievements, Challenges and Future plans . Sylva Foundation has a range of activities for achieving these objectives and its public benefit, combining them to best effect. For the purposes of preparing Sylva’s accounts, these activities are grouped under the following main headings:

Our Vision

Our vision is for a society that cares for nature while living in harmony with it.

We envisage a wood culture where people understand and promote the good stewardship of woodlands and are mindful of their utility, while being conscious of their fragility. Future society will recognise the creative and productive value of forest products which can be derived from growing well-managed forests, and at the same time enhance their wider benefits for people and for nature. This will help result in a halt in the loss of biodiversity, a reduction in climate change, and a human society that can sustain itself.

Our actions today will be tangible in the love and respect that future generations afford our trees and forests.

Our Mission

Impact

Sylva Foundation undertakes to regularly publish an Impact Report, highlighting its activities, progress, and contributions towards meeting its charitable objectives. These reports are published on our website.

Our 2022 Impact Report highlighted a range of impacts, including:

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Achievements, Challenges and Future plans

This section highlights the achievements, challenges and future plans for activities under our four key values of Innovating , Collaborating , Training , and Advocacy .

INNOVATING

To use our forestry knowledge and information technology skills, supported by state-of-art evidence, to provide innovative solutions to some of the greatest environmental challenges facing modern society.

Over the past year, the myForest team regularly provided support and advice to woodland groups across Britain. This included a webinar for some 40 members of the Community Woodlands Association, the representative body of Scotland’s community woodland groups, to learn how they could use myForest to support their woodland management activities.

Resilient Treescapes

Sylva continues to support

Launch of new version of myForest

myForest is the flagship project of Sylva Foundation, providing comprehensive online mapping, digital tools and the latest resources to sustainably manage, and create new forests around Britain. There are now more than 8,000 forest owners and 1,500 forest agents using myForest to manage more than 185,000ha of forest. In August 2022, we released the long-awaited enhanced version of myForest, bringing together our learning and expertise from the last ten years. myForest v4.0 not only provides the latest in technology and guidance to sustainably manage forests, but also unique support for the creation of new forests across Britain. Feedback on myForest v4.0 has been positive, with the new forest creation tools being particularly successful, with more than 1,200ha of forest creation schemes added since August 2022.

Defra in exploring stakeholder behaviours under the Resilient Treescapes Project . As part of their three-year Tree Health Pilot, we are assisting the government in the design and testing of new incentives and regulation to support land managers in responding to threats from pests and pathogens in England. Outcomes from this pilot will inform the design of the future Tree Health Scheme, to be rolled out through environmental land management schemes.

NatureBid

Our innovative environmental funding platform developed in partnership with the Environment Agency, NatureBid, continues to be successful. To date, £29M of environmental funding has been channelled through NatureBid including:

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

COLLABORATING

To work extensively and selflessly with others, recognising that collaboration is necessary to overcome the challenges of halting biodiversity loss and reducing climate change, while supporting the transition to a sustainable human society.

The NFU published an article about the PIES project in the December 2022 issue of British Farmer and Grower (the UK’s largest distribution specialist magazine for farmers.

After successfully securing a

major grant from Defra, Sylva launched an innovative new project known as PIES , standing for protect , improve , expand , and sustain to help with the creation and management of woodlands across England. We are working in collaboration with Forest Canopy Foundation and Grown in Britain, and with the

Forestry Commission and the NFU. During the first stage of PIES we received an incredible 60 applications for the innovative package of fully-funded advice, providing vital information for landowners and managers in England in taking the next steps in managing existing woodland and/or creating new wooded areas.

Our Chief Executive is now the Chair of the Forestry and Climate Change Partnership (FCCP) , composed of forestry, conservation and government organisations that have come together to reaffirm their commitment to work together to promote the importance of adapting trees, woods and forests to climate change. The FCCP published the Forestry and Climate Change Adaptation Accord, setting out a collective vision that Britain’s trees, woods and forests are resilient to climate change and therefore able to meet their full potential to provide environmental, social and economic benefits.

We were delighted when our new collaboration with the National Trust was awarded ‘Best Range’ at the Association for Cultural Enterprises awards. The limitededition range of hand-crafted wooden stools were

Cultural Enterprise award winner. The judges said: ‘Beautifully designed, modern and elegant, this range represents an inspired partnership that has created something positive.’

designed in-house and made by Wood School students. We used Grown in Britain certified ash from the National Trust’s Ebworth Estate.

Thanks to funding from Vastern Timber, a new collaboration with Sylva Foundation and Earth Trust was launched. Paradise Wood in south Oxfordshire was planted by Earth Trust over thirty years ago, and is a research centre for hardwood trees, and a unique resource for learning and advocacy. Paradise Wood is owned by Earth Trust, the charity co-founded by Sir Martin Wood, who also co-founded the Sylva Foundation with our Chief Executive, who has a long connection with this woodland. For the first time Paradise Wood will be mapped using myForest to develop a UK Forestry Standard management plan, enabling us all to understand the full capability of Paradise Wood’s precious genetic resources, and realise the woodland’s potential to help society and nature, while also adapting to climate change.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

TRAINING

To deliver the training and education necessary to support the transformation of society, focussing on the stewardship of our forests and the utility of home-grown timber.

Phillip Gullam was appointed as our new Senior Tutor last May, just in time to welcome a new cohort of eight students onto our Introduction to Furniture Making Course . The course provides an introduction to a range of furniture-making skills and experiences in a professional workshop. The course is designed for those looking for an in-depth introduction to woodworking skills or to hone existing skills, and is the perfect stepping stone to our six-month Professional Course.

Senior Tutor, Phillip Gullam

The second Sylva Wood School

Professional Course finished earlier this year, with the 2022/3 cohorts of students achieving a good level of woodworking technical skills, an understanding of professional standards, and many hours of professional experience and competency in wood machinery. Once again, we were pleased to be able to offer Bursaries to some students. We also continued the Wood School Fellowship scheme , where a graduate can remain at a bench, with the support of our team.

“I feel this course has directly led to a : job role in a furniture making business that I would previously not have been offered. I also believe that the course has allowed me to be confident within this new role.” Student, Sylva Wood School Professional Course 2022/3

In September 2022, the third annual Sylva Wood Summer School took place in collaboration with the V&A Museum, and specifically the Make Good: Rethinking Material Futures programme to create ‘Field Notes.’ This collaboration provided a unique opportunity for the creative participants of the 2022 Summer School, culminating in their work being displayed at the V&A’s Susan R Weber Furniture Gallery.

“Without doubt this year’s Summer School has been the most amazing experience of my teaching career. Bringing together so many brilliant young people, from diverse backgrounds and creative fields then prompting them with inspiring talks, walks and access to our workshops and experienced teachers has led to twelve very special outcomes. Anyone interested in the future of our forests and the opportunities of using homegrown timber should definitely go and see the inspiring display .” Joseph Bray, Head of Wood School .

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

ADVOCACY

To undertake advocacy to inspire one another, raise awareness, and endow people with knowledge, passion, and the shared ambition for a better and more sustainable society.

We released our long-awaited position statement on Sourcing and Using Home-Grown Wood Products . In addition, we developed a new free tool to guide wood product users in decision-making for sourcing timber and wood products in the UK. The Home-Grown Wood Product Selector decision support tool is currently a beta version, but we aim to develop it further with support from partners, and if investment can be attracted, develop a simple mobile application to improve accessibility and user experience.

We published another Sylva Impact Report in 2022. This second impact report focuses on the many collaborations that ensure Sylva continues to reach far beyond our community in South Oxfordshire.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Financial Review

This section is prepared by our trustees to offer a summary of the charity’s finances, with numbered notes (shown in square brackets) referenced from the accounts, which form the following section of this report. The accounts comply with the requirements of FRS102 – The Financial Reporting Standard, applicable in the UK.

The finances of the charity are overseen by the trustees, together with senior staff. The Board oversees a Financial Strategy and an annual Financial Plan, which are reviewed at board meetings.

Reserves Policy

Sylva Foundation holds funds to be applied to support future activities in the form of a ‘Critical Fund’, and Restricted funds:

Financial report for 2022-23

Income

Income (£590,358) increased by 18% compared to the previous financial year (£499,747) [Statement of Financial Activities].

Introduction

Sylva Foundation has continued to diversify its income streams. Over this year and the previous year, a significant amount of money that had been held in restricted or designated funds for various commitments has been drawn down. This partly explains the deficit reported this financial year. Our financial model has evolved so that we now operate more as a transactional type business, with more monthly or quarterly flow of income and expenditure.

Income was derived from several sources including:

----- Start of picture text -----
Income 2022-23
----- End of picture text -----

----- Start of picture text -----
Investment income,
£1,781, 0% Donations and legacies,
84,207, 14%
Other trading activities,
£134,365, 23%
Charitable activities,
£370,005, 63%
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Sylva Foundation Trustees’ Report and Accounts 2022-23

Trustees’ Report

Fixed Assets

During 2022-23 the value of fixed assets (after depreciation) decreased by £36,560 to £1,571,245 [Note 16].

Restricted Funds

Total Restricted Funds were £49,428 (3%) [Note 20]. Restricted Funds are derived from donations and grants with specific conditions attached, and these are accounted for separately in our operational accounts.

Designated Funds

Designated Funds [Note 20] are those funds held for activities related to Innovating, Collaborating, Training, and Advocating activities, and for Core purposes. The total value of Designated funds at 31[st] March 2023 was £1,554,512 [Note 20].

The largest proportion of Designated Funds were Operational Fixed Assets £1,469,061 (94%), mostly comprising land and buildings at the Sylva Wood Centre. Under SORP rules, these assets are shown as ‘funds’ but in fact they are physical assets and not ‘funds’ in the ordinary sense of the word. The charity’s trustees may use the assets acquired on an unrestricted basis for any charitable purpose.

----- Start of picture text -----
Funds 2022-23
Unrestricted funds, Restricted funds,
£148,278, 8% £49,428, 3%
SI
Designated funds,
£1,554,512, 89%
----- End of picture text -----

Unrestricted Funds

Outcome for the future

Unrestricted Funds comprise General Funds (£148,278) arising from fundraising, consultancy, grants, rental income from the Sylva Wood Centre, and our day-to-day operations [Note 20]. These funds are used by Sylva Foundation to achieve its strategic objectives.

Trustees and staff continue to work closely together over to deliver our five-year strategy (2021-26) for the charity. We are busy implementing impactful plans with the support of our considerable network of partner organisations and individual supporters.

Expenditure

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees' annual report was approved on 6[th] November 2023 and signed on behalf of the board of trustees by:

Total resources expended were £649,823 [Statement of Financial Activities]. Delivery of the charity’s strategic objectives cost £644,423 [Note 9] plus £5,400 of support costs [detailed in Note 13].

The majority of total expenditure (48%; £314,084) was spent on staff salaries [Note 14]. From our own operational accounts, we calculate overheads to be £113,641 or 17% of our total expenditure.

Sarah Taylor Chair of Trustees

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Independent Examiner's Report

Independent Examiner’s Report to the Trustees of Sylva Foundation

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2023 which are set out on pages 14 to 28.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's report

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Ajay Bahl BA BFP FCA Wenn Townsend Chartered Accountants Oxford

6[th] November 2023

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Statement of Financial Activities

Sylva Foundation Trustees’ Report and Accounts 2022-23

Statement of Financial Activities

for the year ended 31[st] March 2023

Note
Income and endowments
Donations and legacies
5
Charitable activities
6
Other trading activities
7
Investment income
8
Total income
Expenditure on charitable activities
9, 10
Total expenditure
Net (expenditure) / income
Transfer between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
2023
£
£
£
£
84,207
-
-
84,207
245,082
-
124,923
370,005
124,365
10,000
-
134,365
1,781
-
-
1,781
455,435
10,000
124,923
590,358
527,757
11,266
110,800
649,823
527,757
11,266
110,800
649,823
(72,322)
(1,266)
14,123
(59,465)
34,204
(34,204)
-
-
(38,118)
(35,470)
14,123
(59,465)
186,396
1,589,982
35,305
1,811,683
148,278
1,554,512
49,428
1,752,218		 Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
2022
£
£
£
£
56,815
-
-
56,815
254,200
-
75,444
329,644
90,720
22,500
-
113,220
68
-
-
68
401,803
22,500
75,444
499,747
375,567
38,287
128,564
542,418
375,567
38,287
128,564
542,418
26,236
(15,787)
(53,120)
(42,671)
19,835
(19,835)
-
-
46,071
(35,622)
(53,120)
(42,671)
140,325
1,625,604
88,425
1,854,354
186,396
1,589,982
35,305
1,811,683

All activities are continuing. There are no other gains or losses recognised during the year.

The notes on pages 17 to 27 form part of these financial statements.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Balance Sheet

Balance Sheet

Balance Sheet
Note 2023 2022
£ £ £ £ £ £
Fixed assets
Tangible fixed assets 16 1,571,245 1,607,805
Current assets
Debtors 17 83,580 129,370 129,370
Cash at bank and in hand 161,911 134,309 309
245,491 263,679 263,679
Creditors: amounts falling due within one year 18 (64,518) (59,801)
Net current assets 180,973 203,878
Total assets less current liabilities 1,752,218 1,811,683
Net assets 1,752,218 1,811,683
Funds of the charity
Unrestricted funds 20 148,278 186,396
Designated Funds 20 1,554,512 1,589,982
Restricted Funds 20 49,428 35,305
Total charity funds 21 1,752,218 1,811,683

For the year ending 31[st] March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees' responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on 6[th] November 2023 and are signed on behalf of the board by:

Sarah Taylor Chair of Trustees

The notes on pages 17 to 27 form part of these financial statements.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Cash Flow

Cash Flow Statement

Net cash flow from operating activities:
(Deficit)/surplus
Depreciation
Interest income receivable
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Investing activities:
Interest income receivable
Expenditure on tangible assets
Increase/(decrease) in cash balances
Cash at bank and in hand:
Brought forward balance
Increase/(decrease) in cash balances
Carried forward		 2023
£
(59,465)
55,992
(1,781)
45,790
4,717
45,253
1,781
(19,432)
27,602
134,309
27,602
161,911		 2022
£
(42,671)
50,522
(68)
(78,308)
36,121
(34,404)
68
(62,248)
(96,584)
230,893
(96,584)
134,309

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

Notes to the Financial Statements

1. General information

Sylva Foundation is a charitable company registered in England and Wales (06589157), and a charity registered in England and Wales (1128516), and in Scotland (SC041892). The address of the registered office is Sylva Wood Centre, Little Wittenham Road, Long Wittenham, Abingdon, Oxfordshire, OX14 4QT.

2. Statement of compliance

These accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. They have concluded that the budgeted income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as a going concern.

Income

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

3. Accounting policies (continued)

Income (continued)

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 4% straight line
Equipment - 25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

4. Limited by guarantee

The company is limited by guarantee and does not have a share capital. The trustees undertake to contribute a sum, not exceeding £1 each, to the assets of the company in the event of it being wound up.

5. Donations and Legacies

Donations – other Unrestricted
Funds
£
84,207
84,207		 Designated
Funds
£
-
-		 Restricted
Funds
£
-
-		 Total
2023
£
84,207
84,207		 Total
2022
£
56,815
56,815

6. Charitable activities

Charitable activities
Sale of goods/services as part of direct charitable activities
Performance-related grants
Other income from charitable activities - contractual payments		 Unrestricted
Funds
£
145,636
66,203
33,243
245,082		 Designated
Funds
£
-
-
-
-		 Restricted
Funds
£
-
124,923
-
124,923		 Total
2023
£
145,636
191,126
33,243
370,005		 Total
2022
£
93,849
131,267
104,528
329,644

The 2022 comparatives include performance-related grant restricted expenditure of £75,444 and unrestricted expenditure of £55,823.

7. Other trading activities

Sales income
Rental income
Other activities for generating funds		 Unrestricted
Funds
£
5,383
72,689
46,293
124,365		 Designated
Funds
£
-
-
10,000
10,000		 Restricted
Funds
£
-
-
-
-		 Total
2023
£
5,383
72,689
56,293
134,365		 Total
2022
£
12,191
71,402
29,627
113,220

The 2022 comparatives include other activities for generating funds designated expenditure of £22,500 and unrestricted expenditure of £7,127.

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

8. Investment income

nvestment income
Bank interest receivable Unrestricted
Funds
£
1,781
1,781		 Total
2023
£
1,781
1,781		 Total
2022
£
68
68

9. Expenditure on charitable activities by fund type

Science, Education, Forestry, & Wood Programmes
Support costs		 Unrestricted
Funds
£
522,357
5,400
527,757		 Designated
Funds
£
11,266
-
11,266		 Restricted
Funds
£
110,800
-
110,800		 Total
2023
£
644,423
5,400
649,823		 Total
2022
£
537,209
5,209
542,418

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

10. Expenditure on charitable activities by activity type

Science, Education, Forestry, & Wood Programmes
Governance costs
Analysis of support costs
Finance costs
Net income
come is stated after charging/(crediting):
Depreciation of tangible fixed assets		 Activities
undertaken
directly
£
644,423
-
644,423
Support
costs
£
5,400
5,400
2023
£
55,992		 Support
costs
£
-
5,400
5,400
Total
2023
£
5,400
5,400
2022
£
50,522		 Total
2023
£
644,423
5,400
649,823
Total
2022
£
5,209
5,209		 Total
2022
£
537,209
5,209
542,418

11. Analysis of support costs

12. Net income

Net income is stated after charging/(crediting):

13. Independent examination fees

Fees payable to the independent examiner for:

Independent examination of the financial statements
Other financial services		 2023
£
700
4,700
5,400		 2022
£
698
4,511
5,209

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2023 2022
£ £
Wages and salaries 314,084 275,435
Social security costs 28,944 28,254
Employer contributions to pension plans 13,902 13,163
356,930 316,852
The average head count of employees during the year was 9 (2022: 9). The average number of full-time equivalent employees during the year is analysed as follows:
2023 2022
No. No.
All staff 9 9

No employee received employee benefits of more than £60,000 during the year (2022: £Nil).

15. Trustee remuneration and expenses

No trustee received any remuneration during the year (2022: £Nil). No expenses were reimbursed to trustees during the year (2022: £Nil).

16. Tangible fixed assets

Cost
At 1stApril 2022
Additions
At 31st March 2023
Depreciation
At 1stApril 2022
Charge for the year
At 31st March 2023
Carrying amount
At 31stMarch 2023
At 31stMarch 2022		 Land and
buildings
£
1,687,457
8,040
1,696,497
184,193
42,243
226,436
1,469,061
1,503,264		 Equipment
£
137,609
11,392
149,001
33,068
13,749
46,817
102,184
104,541		 Total
£
1,825,066
19,432
1,844,498
217,261
55,992
273,253
1,571,245
1,607,805

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

17. Debtors

Debtors
Trade debtors
Prepayments and accrued income		 2023
£
83,580
-
83,580		 2022
£
88,803
40,567
129,370

18. Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors – pension
VAT payable		 2023
£
39,560
10,000
8,960
1,962
4,036
64,518		 2022
£
33,586
13,357
7,736
3,387
1,735
59,801

19. Pensions and other post-retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £13,902 (2022: £13,163).

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

20. Analysis of charitable funds

Unrestricted funds
General Funds
Designated Funds
Operational Fixed Assets
Forestry/Information Technology
Education
Wood Centre
Science
Reserve Fund
Core
Restricted funds
Forestry/Information Technology
Education
Wood Centre
Core		 At 1st April
2021
£
140,325
140,325
1,530,500
6,603
272
4,937
-
71,625
11,667
1,625,604
46,860
29,712
2,303
9,550
88,425		 Income
£
401,803
401,803
-
-
-
-
22,500
-
-
22,500
72,084
3,360
-
-
75,444		 Expenditure
£
(375,567)
(375,567)
-
(3,400)
-
(720)
(22,500)
-
(11,667)
(38,287)
(100,221)
(26,040)
(2,303)
-
(128,564)		 Transfer
£
19,835
19,835
(27,235)
-
-
-
-
7,400
-
(19,835)
-
-
-
-
-		 At 31st March
2022
£
186,396
186,396
1,503,265
3,203
272
4,217
-
79,025
-
1,589,982
18,723
7,032
-
9,550
35,305

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

20. Analysis of charitable funds (continued)

General Funds
Designated Funds
Operational Fixed Assets
Forestry/Information Technology
Education
Wood Centre
Science
Reserve Fund
Capital maintenance fund
Restricted funds
Forestry/Information Technology
Education
Core		 At 1st April
2022
£
186,396
186,396
1,503,265
3,203
272
4,217
-
79,025
-
1,589,982
18,723
7,032
9,550
35,305		 Income
£
455,435
455,435
-
-
-
-
10,000
-
-
10,000
121,563
3,360
-
124,923		 Expenditure
£
-
-
-
(1,266)
(10,000)
-
-
(11,266)
(105,895)
(4,905)
-
(110,800)		 Transfer
£
(34,204)
-
-
-
10,000
(41,176)
31,176
(34,204)
-
-
-
-		 At 31st March
2023
£
1,469,061
3,203
272
2,951
10,000
37,849
31,176
1,554,512
34,391
5,487
9,550
49,428

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Sylva Foundation Trustees’ Report and Accounts 2022-23

Notes to the Financial Statement

21. Analysis of net assets between funds

2023
Tangible fixed assets
Current assets
Creditors less than 1 year
2022
Tangible fixed assets
Current assets
Creditors less than 1 year		 Unrestricted
Funds
£
102,184
90,635
(44,541)
148,278
Unrestricted
Funds
£
104,541
141,656
(59,801)
186,396		 Designated
Funds
£
1,469,061
85,451
-
1,554,512
Designated
Funds
£
1,503,264
86,718
-
1,589,982		 Restricted
Funds
£
-
69,405
(19,977)
49,428
Restricted
Funds
£
-
35,305
-
35,305		 Total
Funds
£
1,571,245
245,491
(64,518)
1,752,218
Total
Funds
£
1,607,805
263,679
(59,801)
1,811,683

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Support for Sylva Foundation

Sylva Foundation Trustees’ Report and Accounts 2021-22

How you can help Sylva Foundation

Sylva Foundation relies on the help of many people and organisations. This section outlines some of the ways we currently receive support. We are always keen to receive support in different ways. Read on to find out how you could help our important work.

Donate

There are a number of ways you can donate to support Sylva. We offer specific opportunities, such as helping towards a new building, or sponsoring a bench for a startup business. We also benefit from regular small donations from people who believe in the importance of our work. If you like what we do and how we do it, please consider joining our Friends scheme. Find out more: sylva.org.uk/support

Remember Sylva in your Will

Leaving a Legacy to Sylva is a powerful way to make your support for the charity live on. We believe that trees and forests underpin life on Earth, especially if cared for as part of a dynamic living landscape. Your Legacy will support our ongoing work to achieve a sustainable society and environment. We offer a number of ways to help you leave a legacy, including a home visit with our partners The Goodwill Partnership, and in England a free online Will writing service. You can read more at sylva.org.uk/legacy or contact us to discuss at: 01865 408018 or legacy@sylva.org.uk .

Shopping

We have a small online shop which helps us raise much-needed income. sylva.org.uk/shop

Get involved

There are a wide range of options for you to get involved in our work. At the local level we enjoy support from the public caring for our small estate, and promoting our work through events at the Sylva Wood Centre.

Fundraise

Sylva is not a membership charity, so is without the regular income this provides many charities. We therefore need to raise funds for specific projects and build a strong foundation of income to support our core costs. We don’t have teams of individuals fundraising for us but if you can help promote our work, especially our campaigns and appeals, you will make a difference.

Local groups

Sylva tends to work in partnership with other organisations to achieve its reach across Britain. We are most active locally via the Sylva Wood Centre in Oxfordshire, where local people can help support our Future Forest, Community Orchard, and arts events.

Campaigns and appeals

Support our campaigns and appeals, and you can help our work helping people and trees grow closer together. Subscribe to our enews at sylva.org.uk/subscribe so that you are kept up-to-date.

Training

We offer an exciting range of courses at the Sylva Wood Centre. By attending a paid course your fee will help support our work bridging significant gaps which exist in formal wood education. Find our more at sylva.org.uk/woodschool

Volunteering

If you are looking for an exciting and interesting way to make a difference to our environment, please consider volunteering with Sylva. We have recently benefited volunteers helping with school visits, data entry, visitor welcoming, tree planting, and even a business angel. You don’t have to know anything about trees, forestry or wood to volunteer with Sylva. Find out more at sylva.org.uk/volunteer

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Support for Sylva Foundation

Sylva Foundation Trustees’ Report and Accounts 2021-22

Acknowledgements 2022-23

We are very grateful for all the support offered this year by so many individuals and organisations.

Volunteers and community groups

Donors and Funders

Business supporters

Alistair Yeomans

Andrew James

3Keel

David and Karon Whenmouth

Andrew Bax/Drayton Hive Axminster Tools Blenheim Palace Cloud Forest

Aspen Trust

Gillian Petrokofsky Harriet Child

Gillian Petrokofsky The Dulverton Trust Axminster Tools Harriet Child Garfield Weston Foundation Blenheim Palace Lynn Jones The Hobson Charity Cloud Forest Phil Horton Horlock Educational Trust Evolving Forests Philip Koomen ISA Charity Festool Sally Richards Peter Michaelis Gaze Burvill Shems Hadj-Nassar Richard Paice Joined and Jointed Steve Ash Shanly Foundation Lamello Sylva Foundation Friends National Trust Sylva Wood Centre tenants Oxford Botanic Garden (Oxford University)

reHeat Rezatec Rural Development Initiatives Vastern Timber

NGO and Non-Profit Partners

Community Forest Trusts

Confor

Cumbria Woodlands Earth Trust Forest Canopy Foundation

Grown in Britain

Institute of Chartered Foresters

Liverpool John Moores University

National Farmers Union Royal Forestry Society RSPB Small Woods Association Victoria & Albert Museum Woodland Heritage Woodland Trust Worshipful Company of Furniture Makers

Statutory sector and other public bodies

Department for Environment, Food and Rural Affairs (Defra)

Environment Agency

Forest Research

Forestry Commission

Natural England Scottish Forestry

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Contact us

Sylva Foundation Sylva Wood Centre Long Wittenham Oxfordshire OX14 4QT

Tel: 01865 408018 email: info@sylva.org.uk

www.sylva.org.uk