REGISTERED CHARITY NUMBER: 1138526
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
SILVER LEYS TRUST
Cook & Partners Limited Manufactory House Bell Lane Hertford Hertfordshire SG14 IBP
SILVERLEYS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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|Page|
|Report of the Trustees|1|to|2|
|Independent|Examiner's Report|3|
|Statement|of Financial|Activities|4|
|Balance|Sheet|5|
|Notes|to|the|Financial|Statements|6|to|10|
|Detailed|Statement|of Financial|Activities|11|
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SILVER LEYS TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The primary objectives of the Trust is the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities or for the general public at large in the interests of social welfare with the object of improving the conditions of life of the said inhabitants.
Significant activities
The trusts main activities are the maintenance of land known as Silver Leys, Bishop's Stortford in furtherance of the Trust's main objectives and aims.
Public benefit
The Trustees have considered the provisions of Section 17(5) of the Charities Act 2011 and consider the objects and aims of the Charity are for public benefit.
FINANCIAL REVIEW
Main achievements
The Trustees have established business model that provides a secure environment for the sporting environment and had a surplus income for the year of £4,118 and an excessive expenditure of £2,211 contribution to the Restricted Fund. The Trust holds the majority of cash balances in business deposit accounts.
Principal funding sources
The Trust's main funding source is rental income, which is reviewed in accordance with leases on land and buildings known as Silver Leys, Bishop's Stortford.
Reserves policy
The Unrestricted Fund is designed to be sufficient to deal with anticipated expenditure as well as exceptional costs occurring from time to time.
The Restricted Income Fund is a sinking fund created by the Trustees and Tenants to deal with the need within ten years to re-surface the road and car parks and is designed to have sufficient funds to pay for the estimated costs at that time.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity was founded by Deed of Trust dated 10 October 1945. It was amended by scheme dated 22 July 2010, as amended on 12 February 2013 and is an unincorporated charity.
Recruitment and appointment of new trustees
All Trustees are appointed or re-appointed at a Special Meeting of the Trustees.
Organisational structure
The affairs of the Charity are controlled and managed by the Board of Trustees, which consist of a minimum of three and a maximum of five Trustees. The Board of Trustees is responsible for the strategic management of the Trust. Plans to appoint a Trust Clerk have proved difficult and Mr R Price continues to deal with the day to day operations of the Trust. The Trustees must hold at least two ordinary meetings in each twelve month period and three Trustees constitutes a quorum of the Trustees at any meeting of the Trustees.
Induction and training of new trustees
any new Trustee is given full training with regards to the workings of the Charity prior to his/her induction. After induction, all Trustees are kept up to date with current legislation and directives regarding the Charity and their position as Trustees.
Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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SILVER LEYS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1138526
Principal address 11 Dane Park
Bishops Stortford Hertfordshire
CM23 2PR
Trustees R Price - Chair of Trustees Chair R Roberts Trustee
A Brierley Trustee
Independent Examiner
Cook & Partners Limited
Manufactory House Bell Lane Hertford Hertfordshire SG14 IBP
Approved by order of the board oftrustees one/a and signed on its behalf by:
R Price - Chair of Trustees - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SILVER LEYS TRUST
Independent examiner's report to the trustees of Silver Leys Trust
I report to the charity trustees on my examination of the accounts of Silver Leys Trust (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
[report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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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.
\
Billy Wenman FCCA
Cook & Partners Limited Manufactory House Bell Lane Hertford Hertfordshire SG14 1BP
Date: onla leer...
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SILVER LEYS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
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|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND ENDOWMENTS FROM|
|Donations|and|legacies|300|4,737|5,037|7,755|
|Investment income|2|33,541|590|34,131|28,114|
|Total|33,841|5,327|39,168|35,869|
|EXPENDITURE ON|
|Raising funds|27,722|7,539|35,261|21,323|
|Charitable|activities|
|Scout Group|2,000|-|2,000|-|
|Total|29,722|7,539|37,261|21,323|
|NET INCOME/EXPENDITURE)|4,119|(2,212)|1,907|14,546|
|RECONCILIATION OF FUNDS|
|Total|funds|brought forward|62,701|34,432|97,133|82,587|
|TOTAL FUNDS CARRIED FORWARD|66,820|32,220|99,040|97,133|
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The notes form part of these financial statements
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SILVER LEYS TRUST
BALANCE SHEET 31 MARCH 2025
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|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|finds|
|Notes|£|£|£|£|
|CURRENT|ASSETS|
|Debtors|5|15,000|-|15,000|717|
|Cash|at bank|52,650|32,221|84,871|97,424|
|67,650|32,221|99,871|98,141|
|CREDITORS|
|Amounts|falling|due within one year|6|(830)|Qd)|(831)|(1,008)|
|NET CURRENT ASSETS|66,820|32,220|99,040|97,133|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|66,820|32,220|99,040|97,133|
|NET ASSETS|66,820|32,220|99,040|97,133|
|FUNDS|7|
|Unrestricted|funds|66,820|62,701|
|Restricted|funds|32,220|34,432|
|TOTAL FUNDS|99,040|97,133|
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The financial statements were approved by the Board of ‘Trustees and authorised for issue on wee GM aaltcessre and were signed on its behalf by:
R Price - Chair of Trustees - Trustee
The notes form part of these financial statements
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SILVER LEYS TRUST
- ACCOUNTING POLICIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Rental income
Income from rent represents rental of land and buildings known as Silver Leys which was transferred to the Trust on 22 July 2010.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
- INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Rents received | 32,604 | 26,925 |
| Deposit account interest | 1,527 | 1,189 |
| 34,131 | 28,114 |
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
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SILVER LEYS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 4. | COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES | COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| fund | fund | funds | ||
| £ | £ | £ | ||
| INCOMEANDENDOWMENTSFROM | ||||
| Donationsand legacies | - | 73155 | 75159 | |
| Investment income | 27,539 | 575 | 28,114 | |
| Total | 27,539 | 8,330 | 35,869 | |
| EXPENDITURE ON | ||||
| Raising funds | 21,323 | - | 21,323 | |
| NETINCOME | 6,216 | 8,330 | 14,546 | |
| RECONCILIATION OFFUNDS | ||||
| Total fundsbrought forward | 56,485 | 26,102 | 82,587 | |
| TOTALFUNDSCARRIEDFORWARD | 62,701 | 34,432 | 97,133 | |
| 5. | DEBTORS: AMOUNTSFALLING DUEWITHINONE YEAR | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade debtors | - | 717 | ||
| Other debtors | 15,000 | - | ||
| 15,000 | 717 | |||
| 6. | CREDITORS: AMOUNTS FALLING DUEWITHINONE YEAR | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade creditors | 81 | 288 | ||
| Other creditors | 750 | 720 | ||
| 831 | 1,008 |
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SILVER LEYS TRUST
- MOVEMENT IN FUNDS
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025
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|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.4.24|in|funds|31.3.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|62,701|4,119|66,820|
|Restricted|funds|
|Restricted|Fund|34,432|(2,212)|32,220|
|TOTAL FUNDS|97,133|1,907|99,040|
|Net movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|33,841|(29,722)|4,119|
|Restricted|funds|
|Restricted|Fund|5,32)|(7,539)|(2,212)|
|TOTAL FUNDS|39,168|(37,261)|1,907|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1.4.23|in|funds|31.3.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|56,485|6,216|62,701|
|Restricted|funds|
|Restricted|Fund|26,102|8,330|34,432|
|TOTAL FUNDS|82,587|14,546|97,133|
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SILVER LEYS TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025
7s MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
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|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|27,539|(21,323)|6,216|
|Restricted|funds|
|Restricted|Fund|8,330|-|8,330|
|TOTAL FUNDS|35,869|(21,323)|14,546|
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A current year 12 months and prior year 12 months combined position is as follows:
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|---|---|---|---|---|
|Net|
|movement|At|
|At|1.4.23|in|funds|31.3.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|56,485|10,335|66,820|
|Restricted|funds|
|Restricted|Fund|26,102|6,118|32,220|
|TOTAL FUNDS|82,587|16,453|99,040|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|A|current|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included|in|the|above|are|
|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|61,380|(51,045)|10,335|
|Restricted|funds|
|Restricted|Fund|13,657|(7,539)|6,118|
|TOTAL FUNDS|75,037|(58,584)|16,453|
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SILVER LEYS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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