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2024-03-31-accounts

Ip 2024 Trustees, Report and Accounts 14 SYLVA FOUNDATION •myF¢rwt

Sylva Foundation is a national charity working for a society that lives in harmony with nature, focusing on the stewardship of our forests and the utility of home-grown timber. It provides solutions to meet significant environmental challenges by innovating, collaborating, training, and advocating.

Contents

TRUSTEES’ REPORT ........................................................................ 2 ACHIEVEMENTS, CHALLENGES AND FUTURE PLANS ....... 7 FINANCIAL REVIEW ..................................................................... 11 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SYLVA FOUNDATION .......................................................... 14 STATEMENT OF FINANCIAL ACTIVITIES .............................. 15 BALANCE SHEET FOR THE YEAR ENDED 31[ST] MARCH 2024 .................................................................................................. 16 CASH FLOW STATEMENT FOR THE YEAR ENDED 31[ST] MARCH 2024 ................................................................................. 17 NOTES TO THE FINANCIAL STATEMENTS .......................... 18 HOW YOU CAN HELP SYLVA FOUNDATION ..................... 29 ACKNOWLEDGEMENTS 2023-24 ........................................... 30

Left: a community lunch at the Sylva Wood Centre, during which Sylva staff, wood community businesses, students and visitors enjoy time together.

Front cover images (top left to bottom right): Woodworking and Gender Seminar 2023; Portraits of the Wood Community; Using innovative technology in the woods (Image credit: Evolving Forests); Hosting a visit from Ercol Ltd.; Professional Course students 2023; Discussion between delegates during our Woodworking and Gender Seminar 2023; Sylva’s myForest platform; the Sylva Wood Centre from the air in Summer 2023.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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 2024.

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 Long Wittenham Oxfordshire OX14 4QT

Principal professional advisors

Banking

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

Unity Bank Ltd 4 Brindley Place Birmingham B1 2JB

The Charity Bank Ltd Fosse House 182 High Street Tonbridge TN9 1BE

Insurance Brokers

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

Independent Examiner

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

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Trustees’ Report

Trustee Board and Staff

Patrons

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

Trustees

Sarah Taylor (Chair) Dr Mary Barkham Dr Robin Buxton Lucius Cary OBE Luke Hughes (resigned November 2023) Dr James Morison Jim Waterson

.

Staff

Chief Executive

Dr Gabriel Hemery FICFor CEnv

Director of Operations

Paul Orsi MICFor

Other Staff members

Andrew Clark Head of Forestry Christine Howard Operations Administrator George Dennison myForest Manager (leaver) Gwyneth Bradbury Web Developer Joseph Bray Head of Wood School Lucie Henwood Finance Manager Oliver Price Web Developer Phillip Gullam Senior Tutor Richard Pigott Head of Web Development

Some of the Sylva team on a site visit, winter 2023. Left to right: Gwyneth Bradbury, Richard Pigott, Paul Orsi, Oliver Price, George Dennison, Joseph Bray.

Advisors and Associates

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

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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 2023-24, one trustee 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 2023-24

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:

Fundraising Regulator. Alongside our own high standards in fundraising, we follow its Codes of Practice.

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 a review in March 2024, 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 .

A Sylva Friend and volunteer helping with juice making during Apple Day, run with the local community.

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

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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

knowledge, passion, and the shared ambition for a better and more sustainable society.

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 2023 Impact Report highlighted a wide range of public good impacts, including:

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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.

Development in myForest

myForest is a flagship project of Sylva Foundation, providing comprehensive online mapping, digital tools and the latest resources to support the sustainable management and creation of new forests around Britain. There are now more than 10,000 forest owners and professional agents using myForest to manage more than 200,000ha of forest. More than 4,000ha of new woodland has been design and planned using the platform.

We teamed up with Cumbria Woodlands and Evolving Forests to provide more support for our myForest users. Seamless integration with the Canopy Learning platform helps users to create Forestry Commission Woodland Management Plans.

Stewardship Science

Forest Lab is an innovative project for woodland owners and managers, developed in partnership with Forest Research and funded by Defra. Using the latest technology, Forest Lab enables myForest users to become volunteer ‘stewardship scientists’ by joining science projects, collaborating with researchers and sharing data to improve forest resilience, enhance forest biodiversity, and protect nature and the landscape. Forest Lab science projects have so far covered tree growth monitoring, soil and resilience, wildfire, and the monitoring of a serious tree pest.

Resilient Treescapes

Sylva continues to support Defra in exploring stakeholder behaviours under the Resilient

Treescapes Project . As part of a 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, £34M of environmental funding has been channelled through NatureBid.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Trustees’ Report

EcoservR

Sylva worked with Liverpool John Moores University (LJMU) to support England's Community Forests (ECF). Over the past year we have been developing a platform that allows ECF’s to access data on the environmental benefits from woodland creation schemes that have been funded through the Nature for Climate Fund. We have been able to take data generated through LJMU’s unique EcoservR technology and provide this directly to ECF. This will allow the ECF’s to more easily report to funders as well as providing more information to promote the benefits of woodland creation to communities.

Woodland Condition Assessment app

Sylva was commissioned by Forestry Commission to develop and build a web application that would enable land managers to assess the ecological condition of a woodland. The underlying methodology had been developed the England Woodland Biodiversity Group. We collaborated with the Field Studies Council in the production of accompanying field guides. The new app also supports an assessment for use with the Statutory Biodiversity Metric used in Biodiversity Net Gain assessments.

Horizon Scanning

We supported a cross-sector horizon scanning exercise for forestry in the next 50 years. The results were published in a peer-reviewed journal. The topic which emerged as a top issue was ’catastrophic forest ecosystem collapse’. Next year we will support seminars and other activities to encourage the sector to respond.

The Woodland Condition Assessment app developed for Forestry Commission.

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.

Sylva continued to deliver an innovative new project for Defra and the Forestry Commission (funders) known as PIES , standing for protect , improve , expand , and sustain to help with the creation and management of woodlands across England. We worked in collaboration with Forest Canopy Foundation and Grown in Britain, and with the collaboration of the Forestry Commission and the NFU.

This year our PIES project supported more than 100 farmers and other landowners to reach the first rung of the ladder on their journey towards sustainable forest management and the creation of new woodlands. With advice being provided through Forest Canopy Foundation’s networks of Grown in Britain-verified Expert Providers this project has set the bar for how quality forestry advice could be provided in the future. “PIES funding provided me with the early advice to highlight opportunities and give me a clear idea on how this could work out financially…” Landowner, PIES support recipient

Our Chief Executive continued as 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.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Trustees’ Report

This was an important year in the partnership with an agreement by government to work more formally with the group in future which will merged with another with similar interests focussed on tree health.

Funded by Forestry Commission’s Woods into Management Forestry Innovation Fund the Northwoods Innovation Programme is providing support to woodland owners and forestry businesses across Yorkshire and the North-East of England. Sylva Foundation is playing a key role in the programme, creating new developments in myForest designed to support woodland owners. Innovations include creation of geo-spatial maps, automating woodland inventory and supporting timber sales.

Training woodland inventory in the field using novel technology developed by Sylva Foundation and partners.

We continued our collaboration with the National Trust is making a limited-edition range of hand-crafted wooden stools. These were designed in-house and made by Wood School students. We used Grown in Britain certified ash from the National Trust’s Ebworth Estate.

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.

Sylva Foundation continued to deliver training at the Sylva Wood School. We delivered another Introduction to Furniture Making Course providing 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.

“I‘ve got a job at Benchmark Furniture as a result of the Professional Course. It was as a result of our workshop visit there - it sparked conversation, and they found a role they thought I was appropriate for. I’m really excited, since they’ve been on my radar for a couple of years.”

Sylva Wood School Student, Professional Course

Another Professional Course was delivered with 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.

In September our Director of Operations and Head of Forestry supported a Woodland Inventory Training event in Yorkshire. As well as teaching participants about the benefits of collecting a woodland inventory we were able to test new inventory functionality in myForest which will be launched in 2024/25.

In November, Paul Orsi, Sylva Director of Operations, and Harper Adams alumni, offered two days to deliver undergraduate training . As part of their Forestry Module, students are required to design a new woodland, making sure they take into account factors such as designations, soil and future climate scenarios. Paul demonstrated how myForest could help design their new woodland spatially using the mapping tool, in addition to understanding woodland creation considerations using the woodland creation plan embedded into myForest. As part of this work Sylva Foundation has provided access to paid account plans for the students while they work on their assignment.

As part of the Multi-purpose Woodland Management module run by the silviculturist Edward Wilson, the myForest Team delivered an online workshop for a group of 30 students at Scotland’s Rural College (SRUC) in Edinburgh and Aberdeen. The workshop incorporated a series of specially recorded “how to” videos, detailing how to use myForest for planning Woodland Creation. The students used myForest to produce a poster demonstrating their understanding of the Forest Design Planning process.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Trustees’ Report

ADVOCATING

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.

With help from volunteers, we developed the outline of a major new programme aiming to tackle gender inequality in the heritage woodworking sector. Whilst

the charity runs a successful Wood School and hosts multiple businesses at its Wood Centre in Long Wittenham we have become increasingly aware of gender inequality in the woodworking sector. We undertook research among employers in the woodworking sector which showed that among 954 employees represented in the survey, only 20% of the workforce were women, and among those working in manufacturing the percentage dipped as low as 8.5%.

Subsequently, we hosted a seminar at the Wood Centre focussing on gender inequality in the wood sector. More than 70 participants took part in a day of talks, workshops and discussions. Feedback showed that the seminar was not only a success in raising key issues and bringing together people from across the sector to discuss gender equality, but the breadth of stories and experience shared by everyone was immensely powerful.

‘There really was magic in the air. We felt privileged to take part and to meet the incredible women and supporters in the room.’ Participant in the Woodworking and Gender seminar.

We aim to lever these activities to help us fundraise towards launching a new programme through which we would employ a coordinator to lead on a range of activities to promote gender equality.

We published another Sylva Impact Report in 2023. This edition focused on our innovations, not just in the form of products and research, but also in terms of the approaches we take and our culture. We are a small charity, but through innovation we are able to punch above our weight. We look to the latest technologies and inspiring collaborations; we develop creative ways to support the woodworking sector, and unique approaches to improving resilience to climate change.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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:

Introduction

Sylva Foundation continues to operate as a transactional business, with monthly or quarterly flow of income and expenditure.

Income

Income (£608,973) was increased compared to the previous financial year (£554,258) [Statement of Financial Activities].

Income was derived from several sources including:

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Trustees’ Report

----- Start of picture text -----
Income 2023-24
----- End of picture text -----

----- Start of picture text -----
Donations and
Investment income,
legacies, 67,351,
£1,184, 0% 11%
Other trading
activities, £128,259,
21%
Charitable activities,
£412,179, 68%
----- End of picture text -----

----- Start of picture text -----
Funds 2023-24
Unrestricted funds,
Restricted funds,
£107,160, 7%
£38,768, 2%
Designated funds,
£1,506,611, 91%
----- End of picture text -----

During 2023-24 the value of fixed assets (after depreciation) were £1,520,993 [Note 16].

Restricted Funds

Total Restricted Funds were £38,768 [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 2024 was £1,506,611 [Note 20].

The majority of Designated Funds were Operational Fixed Assets £1,426,818, 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 unrestrictive basis for any charitable purpose.

Unrestricted Funds

Unrestricted Funds comprise General Funds (£107,160) arising from fundraising, consultancy, grants, rental income from the Sylva Wood Centre, and our day-today operations [Note 20]. These funds are used by Sylva Foundation to achieve its strategic objectives.

Fixed Assets

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Trustees’ Report

Expenditure

Total resources expended were £672,552 [Statement of Financial Activities]. Delivery of the charity’s strategic objectives cost £666,423 [Note 9] plus £6,129 of support costs [detailed in Note 13].

The majority of total expenditure was spent on staff salaries (£433,645) [Note 14].

Outcome for the future

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.

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 19[th] November 2024 and signed on behalf of the board of trustees by:

Sarah Taylor Chair of Trustees Lal fap

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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 2024 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

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 10[th] October 2024

  1. 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).

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Statement of Financial Activities

Sylva Foundation Trustees’ Report and Accounts 2023-24

Statement of Financial Activities

for the year ended 31[st] March 2024

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		 2024
Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
2024
£
£
£
£
66,833
518
-
67,351
317,337
-
94,842
412,179
128,259
-
-
128,259
1,184
-
-
1,184
513,613
518
94,842
608,973
500,723
66,327
105,502
672,552
500,723
66,327
105,502
672,552
12,890
(65,809)
(10,660)
(63,579)
(17,908)
17,908
-
-
(5,018)
(47,901)
(10,660)
(63,579)
112,178
1,554,512
49,428
1,716,118
107,160
1,506,611
38,768
1,652,539		 2023 Restated
Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
2023
£
£
£
£
78,207
-
-
78,207
214,982
-
124,923
339,905
124,365
10,000
-
134,365
1,781
-
-
1,781
419,335
10,000
124,923
554,258
527,757
11,266
110,800
649,823
527,757
11,266
110,800
649,823
(108,422)
(1,266)
14,123
(95,565)
34,204
(34,204)
-
-
(74,218)
(35,470)
14,123
(95,565)
186,396
1,589,982
35,305
1,811,683
112,178
1,554,512
49,428
1,716,118

There are no other gains or losses recognised during the year. This year’s results include performance-related grants whose conditions have not been fully met at the year end hence the charity has deferred £37,672 to be recognised in future periods. If the policy had not been adopted the deficit for the year would be £25,907.

The notes on pages 18 to 28 form part of these financial statements.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Balance Sheet

Balance Sheet for the year ended 31[st] March 2024

Restated
Note 2024 2023
£ £ £ £ £ £
Fixed assets
Tangible fixed assets 16 1,520,993 1,571,245
Current assets
Debtors 17 88,098 47,480
Cash at bank and in hand 139,826 161,911
227,924 209,391
Creditors: amounts falling due within one year 18 (96,378) (64,518)
Net current assets 131,546 144,873
Total assets less current liabilities 1,652,539 1,716,118
Net assets 1,652,539 1,716,118
Funds of the charity
Unrestricted funds 20 107,160 112,178
Designated Funds 20 1,506,611 1,554,512
Restricted Funds 20 38,768 49,428
Total charity funds 21 1,652,539 1,716,118

For the year ending 31[st] March 2024 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 19[th] November 2024 and are signed on behalf of the board by:

Sarah Taylor Chair of Trustees

The notes on pages 18 to 28 form part of these financial statements.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Cash Flow

Cash Flow Statement for the year ended 31[st] March 2024

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		 2024
£
(63,579)
57,803
(1,184)
(40,618))
31,860
(15,718)
1,184
(7,551)
22,085
161,911
(22,085)
139,826		 Restated
2023
£
(95,565)
55,992
(1,781)
81,890
4,717
45,253
1,781
(19,432)
27,602
134,309
27,602
161,911

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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 2023-24

Notes to the Financial Statement

3. Accounting policies (continued)

Income (continued)

Prior period adjustment

The prior period reserves have been adjusted to reflect accrued income included in the 2023 Accounts that should have been adjusted against unrestricted income. This has resulted in Unrestricted reserves being reduced by £36,100 to £112,178 and total reserves restated to £1,716,118 from £1,752,218.

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 2023-24

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.

financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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
£
66,833
66,833		 Designated
Funds
£
518
518		 Restricted
Funds
£
-
-		 Total
2024
£
67,351
67,351		 Total
2023
£
78,207
78,207

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
£
75,420
35,869
206,048
317,337		 Designated
Funds
£
-
-
-
-		 Restricted
Funds
£
-
94,842
-
94,842		 Total
2024
£
75,420
130,711
206,048
412,179		 Total
2023
£
145,636
191,126
3,143
339,905

The 2023 comparatives include performance-related grant restricted expenditure of £124,923 and unrestricted expenditure of £3,143

7. Other trading activities

Sales income
Rental income
Other activities for generating funds		 Unrestricted
Funds
£
14,966
74,479
38,814
128,259		 Designated
Funds
£
-
-
-
-		 Restricted
Funds
£
-
-
-
-		 Total
2024
£
14,966
74,479
38,814
128,259		 Total
2023
£
5,383
72,689
56,293
134,365

The 2023 comparatives include other activities for generating funds designated expenditure of £10,000 and unrestricted expenditure of £46,293.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Notes to the Financial Statement

The 2023 comparatives include other activities for generating funds designated income of £10,000 and unrestricted income of £46,293.

8. Investment income

Investment income
Bank interest receivable Unrestricted
Funds
£
1,184
1,184		 Total
2024
£
1,184
1,184		 Total
2023
£
1,781
1,781

9. Expenditure on charitable activities by fund type

Science, Education, Forestry, & Wood Programmes
Support costs		 Unrestricted
Funds
£
494,594
6,129
500,723		 Designated
Funds
£
66,327
--
66,327		 Restricted
Funds
£
105,502
-
105,502		 Total
2024
£
666,423
6,129
672,552		 Total
2023
£
644,423
5,400
649,823

The 2023 comparatives include science, education, forestry and wood programmes designated costs of £11,266, restricted costs of £110,800 and unrestricted costs of £527,757.

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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
ncome is stated after charging/(crediting):
Depreciation of tangible fixed assets
Independent examination fees
payable to the independent examiner for:
Independent examination of the financial statements
Other financial services		 Activities
undertaken
directly
£
666,423
-
666,423
Support
costs
£
6,129
6,129
2024
£
57,803
2024
£
735
5,394
6,129		 Support
costs
£
-
6,129
6,129
Total
2024
£
6,129
6,129
2023
£
55,992
2023
£
700
4,700
5,400		 Total
2024
£
666,423
6,129
672,552
Total
2023
£
5,400
5,400		 Total
2023
£
644,423
5,400
649,823

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:

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Notes to the Financial Statement

14. Staff costs

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

Wages and salaries
Social security costs
Employer contributions to pension plans
verage head count of employees during the year was 9 (2023:
All staff		 2024
2023
£
£
379,264
314,084
35,491
28,944
18,890
13,902
433,645
356,930
9). The average number of full-time equivalent e
2024
2023
No.
No.
9
9		 2023
£
314,084
28,944
13,902
356,930
9

The average head count of employees during the year was 9 (2023: 9). The average number of full-time equivalent employees during the year is analysed as follows:

One employee received employee benefits of between £60,000 and £70,000 during the year (2023: £Nil).

15. Trustee remuneration and expenses

No trustee received any remuneration during the year (2023: £Nil).

During the year one trustee received reimbursement for travel expenses of £122 (2023: £Nil).

16. Tangible fixed assets

Cost
At 1stApril 2023
Additions
At 31st March 2024
Depreciation
At 1stApril 2023
Charge for the year
At 31st March 2024
Carrying amount
At 31stMarch 2024
At 31stMarch 2023		 Land and
buildings
£
1,695,497
-
1,695,497
226,436
42,243
268,679
1,426,818
1,469,061		 Equipment
£
149,001
7,551
156,552
46,817
15,560
62,377
94,175
102,184		 Total
£
1,844,498
7,551
1,852,049
273,253
57,803
331,056
1,520,993
1,571,245

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Sylva Foundation Trustees’ Report and Accounts 2023-24

Notes to the Financial Statement

17. Debtors

Debtors
Trade debtors
Prepayments and accrued income		 2024
£
87,368
730
88,098		 2023
£
47,480
-
47,480

18. Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors – pension
VAT payable		 2024
£
37,289
44,744
11,306
3,013
26
96,378		 2023
£
39,560
10,000
8,960
1,962
4,036
64,518

Deferred income represents income received in advance for which the charity has not yet met the conditions of recognition. There was no deferred income balance at the beginning of the year and the amount deferred at the year-end was £37,672.

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 £18,890 (2023: £13,902).

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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
Core		 At 1st April
2023
£
112,178
112,178
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		 Income
£
513,613
513,613
-
518
-
-
-
-
-
518
2,582
30,724
61,536
94,842		 Expenditure
£
(500,723)
(500,723)
(42,243)
-
(272)
-
(10,000)
-
(13,812)
(66,327)
(32,221)
(32,866)
(40,415)
(105,502)		 Transfer
£
(17,908)
(17,908)
-
15,997
-
-
-
1,931
-
17,928
-
-
-
-		 At 31st March
2024
£
107,160
107,160
1,426,818
19,698
-
2,951
-
39,780
17,364
1,506,611
4,752
3,345
30,671
38,768

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Sylva Foundation Trustees’ Report and Accounts 2023-24

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
£
(527,757)
(527,757)
-
-
-
(1,266)
(10,000)
-
-
(11,266)
(105,895)
(4,905)
-
(110,800)		 Transfer
£
34,204
34,204
(34,204)
-
-
-
10,000
(41,176)
31,176
(34,204)
-
-
-
-		 At 31st March
2023
£
112,178
112,178
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 2023-24

Notes to the Financial Statement

21. Analysis of net assets between funds

2024
Tangible fixed assets
Current assets
Creditors less than 1 year
2023
Tangible fixed assets
Current assets
Creditors less than 1 year		 Unrestricted
Funds
£
94,175
71,691
(58,706)
107,160
Unrestricted
Funds
£
102,184
54,535
(44,541)
112,178		 Designated Funds
£
1,426,818
79,793
-
1,506,611
Designated Funds
£
1,469,061
85,451
-
1,554,512		 Restricted
Funds
£
-
76,440
(37,672)
38,768
Restricted
Funds
£
-
69,405
(19,977)
49,428		 Total
Funds
£
1,520,933
227,924
(96,378)
1,652,539
Total
Funds
£
1,571,245
209,391
(64,518)
1,716,118

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Support for Sylva Foundation

Sylva Foundation Trustees’ Report and Accounts 2023-24

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 several ways you can donate to support Sylva. We offer specific opportunities, such as helping towards a new building, or sponsoring a bench for a start-up 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 2023-24

Acknowledgements 2023-24

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

Volunteers and community groups

Donors and Funders

Andew Lea Aspen Trust David and Karon Whenmouth Conran Foundation Harriet Child Garfield Weston Foundation Lynn Jones Horlock Educational Trust Pauline Upstone John Ellerman Foundation Phil Horton Michaelis family Philip Koomen The Mila Charitable Trust Phoebe Oldfield Vastern Timber Rae Sellen Woven Foundation Sally Richards Sheila and Derek Phillips Steve Ash Sylva Foundation Friends

NGO and Non-Profit Partners

Business supporters

Andrew Bax/Drayton Hive Community Forest Trusts Axminster Tools Confor Benchmark Furniture Cumbria Woodlands Blenheim Palace Earth Trust Cloud Forest Forest Canopy Foundation Doig Furniture Makers Grown in Britain Evolving Forests Institute of Chartered Foresters Festool Liverpool John Moores University Gaze Burvill National Farmers Union Joined and Jointed National Trust Lamello Royal Forestry Society Martin Glynn Royal Scottish Forestry Society National Trust RSPB Nicholsons Small Woods Association Odies Oil Soil Association reHeat Woodland Heritage Resilient Landscapes East of England CIC Woodland Trust Resilient Landscapes Yorkshire CIC Worshipful Company of Furniture Makers Rezatec Robinson Forestry Rural Development Initiatives Timber Auctions Vastern Timber Wessex Woodland Management

Statutory sector and other public bodies

Defra Environment Agency Forest Research Forestry Commission Natural England Scottish Forestry

Education/Academic Partners

Harper Adams University Liverpool John Moores University Reading University Rycotewood Furniture (Activate Learning) SRUC (Scotland's Rural College)

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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