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 ￿￿￿e1￿1 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 acC￿llIts 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 M￿e1 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 aw￿UDts. Prineipal funding sources The Trusts fi￿ditig 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[g￿ed to be sufficient to deal with anticipated expendtti]re as well excewiollal costs occurring from tI￿e 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 st￿la1 Meeting of the Trusttts. Organis2tioDal struetsire The dffairs of the Charity are cotttrolled and maDaged by the Bo•)1 of T￿￿e¢S which consist of a Jninimum of three and a m&ximum of five Tll￿tees. The Board of Tn]st￿$ is rest￿sIble 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 TTh￿t. The T￿teeS must bold at least two ordinary meetitigs in exh twelve month peri￿1 and three Trustees wnstitutes a quorum of the Tn￿ee5 at any meetiLo of the Tn￿tee5. InductiOD and tr#itiin£ of new trwst¢¢s any new T￿stee is given fi]11 training with regards to the wtykillgs of the Charity prior to h1￿her 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￿ ag￿nSt f￿￿da￿d 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 oll￿ber 1138526 Principal address I l Dane Pork Bishops Siortf5es within the objects of the clwity. Re5tri¢tions arise when spe¢ifi¢d by the d(ALor (rwhen fimds are Tri8ed forpaticularTestric￿I purposes. Furtherexplanation of the nabjre and FA￿)5¢ of each fund is included ID the note5 to the financial statemen tNVESTMENf INCOME 2024 2023 Rents rxeived 2&￿5 1,189 25,729 73 28,114 25,802 TRUSTEES REMUNERATION AND BENEFrrs There were no ttustees, reminieration or other t￿efits for the year ended 31st March 2024 nor for the year ¢nd¢d 31st Ma￿h 2023. Trustees. expens There were no tru5tecg ex￿ the Y￿ ended 315t March 2024 for the year ended 3 1st Mareh 2023. Page 6 continu¢d... 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 fi￿d 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 u￿restrICted fuDds General fi]lld 40.753 15,732 56,485 Restricted funds Restric￿1 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 continueve are as follows- in fun Unrestricted fullds General fund 53268 (31,320) 21,948 Regtriettd funds Restr1c￿dFvlld 11120 12,120 65J88 (31,320) 34,068 There were no relatgj pty IrdDSaction5 for the year mded 31stMarh 2024.