TRUSTEES UNAUDITED FINANCIAL STATEMENrs FOR THE YEAR ENDED 3 1ST MARCH 2024 SILVER LEYS TRUST Bell tane Hertford HertfoidshirE SG14 IBP
SILVER LEYS TRUST CONTEwrs F THE FINANCIAL STATEMENTS FOR THE YEAR E MARCH 2024 Page Rew>rt ofthe Tntstees IndepelldeDt Examinews ReTM>rt Statement of FiD#n¢i¥l Adtvtties Bxianee Sheet Note5 to tbe FÈtiancial Ststements 6 to 9 Detailed Statement of e11 Activit$ 10
LVER LEYS TRUST REPORT OF THE TRUSTEES EQR TH_E YEAR ENDED 31ST MARCH 2024 The In¢¢$ pres¢nt th¢ir retN)rt with the finartcial knents of the charity for thc y¢ar en(kd )Ist March 2024. The trustets have adopted the provisions of Accounling and Rewrting by Cljaritits.. Ststernent of Re¢ornmended Practice applicable to charities preparing their acCllIts in accordance with the FiDaDcial Reptsrtll Standard appli¢abl¢ ia the UK and Republic of Ireknd (FRS 102) (effeaive l Janvary 2019). ORJECTtVES AND ACTtvrrIFS Objectives and aims The prirnary objectiv0% of tbe Tr4LQ is the wivision of faci]ities for recreation or other leisure titne occytion of individuals who have need of such facilities or for the general pub]ic at large in the iT]terests of wia] welfare with the object of improving the GQTKlibons of lifr of th¢ said iJthabitsnts. Signifjcant activiti£s The tn rnain activitits are the maintenance of land kmown as Silver Leys, Bishop's Stortford in furtherance of the TnLSt's main objectives and ain Public bellefrt The Trustees have considered the provisioLs of Sectton 17(5) of the Cbarittts Act 2011 and consider the objects and aims of th¢ Chartty are forpublic IxnefiL FINANCIAL REVIEW Lltsill achievements The Trustees hav¢ establisl*d b&Lsilless Me1 that provides a secure eDviroDEllent for the sporting environment and had a SUTplus income for the Vw of £6215 and £8J30 contriEKrttons to the Restricted Fun¢L The TTh holds thc TnajoTiLv of balanc in b]nesS dei¥)sit awUDts. Prineipal funding sources The Trusts fiditig source is rental income, whi¢b is rniewed ill with le4s¢5 on land and knildings known as Silver Bisbop's StortforiL Reserve5 policy The Unrestricted Fund is des[ged to be sufficient to deal with anticipated expendtti]re as well excewiollal costs occurring from tIe to time. The Restricted Income Fund ts a sinking fimd created by the Tn&ees and Tenants to deal with the De within ten years to r¢.surfa¢e tbe road aDd wpaTks and i5 designed to have sutTicio)t funds to pay for the estintsted costs at that time. STRUCTURE, GOVERNAIICE AND MANAGEMENT Governing document The Charity was founded by Deed of Tnjst dated 10 (ktoEer 1945. It wa8 by scheme dated 22 Juty 2010, &8 amended on 12 Felxw 2013 and is an wi]n¢iM charity. Recruitment and xppointmtnt of new trustees All Trust¢¢5 are awolttted or re-apFK)inted at a stla1 Meeting of the Trusttts. Organis2tioDal struetsire The dffairs of the Charity are cotttrolled and maDaged by the Bo•)1 of Te¢S which consist of a Jninimum of three and a m&ximum of five Tlltees. The Board of Tn]st$ is restsIble for the sttaiegic ni¥em¢nt of the Trust. Plans to ap]nt a TnLSt Clfflk have proved ditficuh ond Mr R Price continues to deal wÈth the day to day operations of the TTht. The TteeS must bold at least two ordinary meetitigs in exh twelve month peri1 and three Trustees wnstitutes a quorum of the Tnee5 at any meetiLo of the Tntee5. InductiOD and tr#itiin£ of new trwst¢¢s any new Tstee is given fi]11 training with regards to the wtykillgs of the Charity prior to h1her induction. After induction, all Trustees ate kept up to date with curkrnt legislation aDd directivts Wing the Charity and Iheir position as Trustees. Risk tllanagemeDt The trustees have a duty to identify and revi¢w the risks to which the chrrity is ¢xwsed and to ensure appropriate ontrO]s aTe iti place to providc reasoDabk a&sUr agnSt fdad m. Page I
SILVER LEYS TR ST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 21Y24 RF.FF.RENCE AND ADMINIsfRATIVE DETAILS Registered Ch3rtty ollber 1138526 Principal address I l Dane Pork Bishops Siortf<MIl HertfordshiTe CM23 2PR Trllstees R Price- Chair of TteeS Chair R Roberts Trustee A Brierley Tt IDdepeDdent Examiner Cook & Partners Limited Manufactory Ho Bell Lane Hertford Elertfordshire SG14 IBP Approv¢d by order of tbe board oftrustees on 3rd [em£r 2024 and SId on its ihalf by: R Price. Chair of Trustee5. TnLoee
tNDEPENDENf EXAMtNER'S REPORT TO THE TRUSTEES OF SILVER LEYS TRUST ldePendent examtlltr's rert to the trllstees olsilver Ims Tntst I rek to the Ch1 on my examiTh*ion of the accounts of Silver TTUSt (the Tn) for the year ended 3 1st March 2024. Responsibilities aDd basis ofreport As the charity tnistees of the Trust YOU 8Te TeS[nk fw the preparation of the acc£KuJts in accordance with the requirements of the Chartti¢s Art 2011 Cth¢ Art). I rerort in resFe¢t of my exaIn]lltIQn of the Tn]sÈ'S &tounts Iried under Section 145 of the Act and in carrying ¢)ut my Lai[tIOn I have followed au applicable DirnioDS given by the Cbarity Commission under Section 14i(5Xb) of the Act. Indepelldellt examAneWs slatement I have completed my examtnaiion. I confllm that no mawial mattus have come to my attentiffl in connection with the ex8Jnination giving tne Cause to believethat in any tllaterial re5m: accountiDg reci)rds were not kept in re5Fert of the Tn a5 fEquirrd by Section 130 of the Ac¢ or the accounts do noi ¢ord with thos¢ records; or the accounts do not comply wÈth the arolicable requiments COn¥ll1ng the and content of aoUnts set out in the Chorities (Accoullts aud Rq} Regu]atioDs 28 other than any requirement that tbe accouttts give a ue and fair view wbich is not a matter considered as of indyndeni eXa]natIO I have no concerns and have come acri5 no other matters in conn¢ction with the examination to which attention should be drawn in this report in ord¢r to ¢Dable a priyer understsndillg of the accounts to be reache<L Billy Wenman FCCA Cook & Partners LimÉted Manufactory House Bell lane Hert(ord SG14 IBP 3rd December2024 Page 3
VER LEYS TRUST STATF.ME QF FTNANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 21r24 2024 2023 fund fimd funds fulldg Note5 Dollations and legacies 7.755 7.755 3,717 tnvestmellt iDcom¢ 575 28,114 25.802 Total 27.539 8J30 i5,869 29,519 EXPEF4DrruRE ON 21 J2) 21,323 9,997 T INCOME 6216 8J30 14,546 19,522 RECONCILIATION OF FUNDS Total fimds brought forward 56,485 26,102 81587 63.065 TOTAL Fuf4DS CARRIED FORWARD 62,701 34.432 97,133 82,587 Th¢ Dotes fonn partofthese fmancial stats*nents Page 4
SILVER LEYS TR BALANCE SHEET JIST MARCH 2024 2024 Totsl funds 2023 Total funds fuDd fiwd CURREiYf ASSETS Debt4)rs 717 61992 717 97,424 330 82.973 63.7¢Y) 34.432 98,141 CREDITORS Amounts falling due within one year (I,(M)g) (I.CK)8) (716) NET CURRENT ASSETS 61701 34.432 97,133 82,587 TOTAL ASSETS LESS C15RRE LIABILrriES 61701 34.432 97.133 82.587 NET ASSETS 62.701 34.432 97,133 82,587 62,701 34,432 56,485 26,102 liestricted funds TOTAL FUNDS . 97,133 82,587 The financial statements were apwove41 by the Board of TnLstt and authoTi%d for issue on 3rd Decemb 2024 and were signed on its &balf by: R lee. Chair ofTrustees. Trustce
SILVER LEYS TRUS
NOTES TO THE FINANCIAL STATEM.ENT_S
LOR THE YEAR ENDED 3 1ST MARCH 2024
AccouNfiNG POLICIES
Basis of preparing the fiancIal statements
The finaD¢ial statements of the c]wity. Nthich is a public bfflefft entity under FRS 102, have been prepared in
accordance with the Chitt5 SORP (FRS l(r2) 'Accounting and Reporting by ChJriti¢s: Stsi¢ment of
Reconynended Practice applicable to chaities prewing their accounts in accordance with the Financial
Rewtin. Standard aFylicabl¢ in the UK and Republic of Ireland (FRS 102) (effectiv¢ l January 2019),,
Financial ReportiTJg StsDdard 102 Tr Financial Re[ing Standard applicable in the UK and Republic of
treland. and the Charities Act 2011. The fla1 ststanents have prepared under the historical 5t
¢onvention.
Rental incorne
tDcome from rent represents rellral of iaDd I1]d known &8 Silver Ixys whtch was tranSf¢¢d to thc TTUSt
on 22 July 2010.
Resources expended
Expelldiwre is aC£Outed for on an aCCnlS basis and has ¢1&8sified under headings that wegate all cost
Tclated to tbe category. Where cOS 0t k direLtly attnTr)uted to particul& headings they have been allocat¢d
to activiti¢s on ab&is C(sIstent with the of resources.
Taxgtio
Tl)e charity is exempt from t&¥ OD its rlJaTitsbIe activities.
Fund accoulltlng
Unrestricted fimds can ID with the charitable objectives at the discretion of the llustees.
Restrtcted fiJn
SIL VER LEYS TRUST TO THE FTNANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 COLIIPARATIVES THE STATEMEKf OF FINANCIAL A[VITIEs Totsl fimds fimd fund INCOME AND ENDOWMEP(rs FROM I)onations legacies 3.717 3,717 lllve5ttllellt income 25,729 73 25,802 Totsl 25,729 3.790 29.519 EXPENDITURE or4 Raising futrf5 9.997 9,997 NET INCOME 15.732 3.7 19,522 RECONCILIATION OF FUNDS T(knl fijnds tmuJo Jt foThvaTd 40,753 22,312 63,065 TOTAL FUNDS CARIUED FORWARD i6,485 26,102 82.587 DEBTORS: AMOUNfs FALLING DUE wrrHtN ONE YEAR 2024 2023 Trade debtors 717 330 CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Tra(k credilofs 288 720 216 500 1,008 716 MOVEMENT IN FTJNDS Net movement in funds At 31.3.24 At 1.423 Unrestricted hDds G¢D¢ral fid 56,485 6216 62,701 Restricted Restricted Fund 2&IW2 8J30 34,432 TOTAL FUNDS 81587 14,546 97.133 Page 7
NOTES TO THE FINANCIAL STATEM_ENTS.- contÈnued FOR THE YEAR ENDEDJI T MARCH 2024 MOVEMENf IN &iJf4DS. eoDtiDued Netmovemettf iti fim4 itiduded in the above are &% follows: Incoming Resou Movement in fi]nds UDrestricted fllDd5 General fund 27.539 (21.323) 6,216 Restricted funds Restricted Fw 8J30 8,330 TOTAL Fuf4DS 35.869 (21,323) 14,546 Comparativ&s for Trovemeot ID funds Net movement in fimds At 31.3.23 At 1.422 urestrICted fuDds General fi]lld 40.753 15,732 56,485 Restricted funds Restric1 Futtd 2U12 3.790 26,102 TOTAL FUNDS 63,5 19,522 82.587 Compwative net movement in fur illchmled in the above ar¢ as follow5: IM)ming Resources expended Movement in f¢ll)¢ls Unr¢stri¢ted General fund 25.729 (9,997) 15,732 Restrlcted Restricted F]d 3,790 TOTAL FUNDS 29,519 (9.997} 19,522 Pag¢ 8 continue<L..
NOTES TO TEIE FtNANCIAL STATEMENTS- continued FOR THE YEAR ENDED31ST MARCH 2024 MOVEMENf IN JfDS. contined A cutr¢llt yeaT 12 months aDd pri{y 12 mollttk5 wmbiTKdpositson is &$ follows: Net movement in fimds At 31.3.24 At 1.422 UDrestricted fuTrds General fund 40.753 21,948 61701 Restrfftcted fuThds Restricted Fund -12 12,120 34,432 TOTAL FUNDS 63,065 34,(168 97,133 A cuttent year 12 months and prior year 12 m4xllhs combingj net movemeut in inctuded in the th>ve are as follows- in fun Unrestricted fullds General fund 53268 (31,320) 21,948 Regtriettd funds Restr1cdFvlld 11120 12,120 65J88 (31,320) 34,068 There were no relatgj pty IrdDSaction5 for the year mded 31stMarh 2024.