**Silver Cord Ministries Trustees’ Annual Report** 29/6/23-31/3/24 ## **1. Brief History of Silver Cord** Silver Cord began in 2017 as a befriending service and community outreach activity of Hope Community Church in Tameside and Glossop (Charity No. 1129418). In order to allow Silver Cord to grow beyond Tameside and Glossop, the charity was formally constituted as a CIO (Charity No. 1203795) on 29/06/2023. On 4/11/2023 a Silver Cord community hub called “The Living Room” was opened in the Clarendon Shopping Arcade in Hyde Town Centre to provide a space for those facing isolation and loneliness to meet and form friendships. ## **2. Trustee Information** The following trustees served Silver Cord from the date it was established on 29/6/23 through to end of the financial year (31/3/2024): - a. Katherine Howsley - b. Janet Grandidge - c. Andrew Jenkinson - d. Martyn Cooling ## **3. Charity Objectives** Silver Cord’s charitable objectives are: - a. To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded, and assisting them to integrate into society (for the purpose of this clause “socially excluded” means persons who are socially or economically disadvantaged, in particular, but not exclusively, those who are elderly or in poor health. and - b. To advance the Christian faith through missionary work, evangelism and educating people about the Christian religion. The specific activities that Silver Cord undertakes to achieve these objectives include the following: - a. Providing a free befriending service, both by telephone and in-person. - b. Running a community hub in Hyde in Tameside called “The Living Room”. - c. Delivering free Christmas Day meals to those who alone on that Day. - d. Arranging subsidised annual day trips to a place of interest or resort town. - e. Supporting partner churches to provide quality community activities. - f. Praying or reading the Bible with those who request it. - g. Encouraging interested clients to engage in a local church community. - h. Distributing Bibles and other Christian literature. - i. Raising awareness in local churches of the isolating effects of aging. ## **4. Review of Activities** The main activities, achievements and impact during this period are summarised in the table below with a brief explanation as to how this furthered Silver Cord’s objectives. Page 1 © Silver Cord Ministries | 2024 Trustees’ Annual Report ## **Silver Cord Ministries Trustees’ Annual Report** 29/6/23-31/3/24 |**Activities**|**Achievements**|**Impact**|**Charity Objectives**| |---|---|---|---| |Silver Cord has established and run a
free befriending service in Tameside in
partnership with local churches.
Volunteers from these churches have
visited and/or telephone lonely and
isolated people in the community on a
weekly basis and supported them in
other ways where that is appropriate.|We have supported c. 50 isolated and
lonely people, mostly older people, with
weekly calls and/or visits through our team
of trained volunteers. Over the nine
months covered by this report, this
equates to approximately 2,000 hours of
personal befriending care, all free to the
client.|*Karen*, 79, has been supported by her
befriender from 2020-2024. As Karen’s
connections have grown since the support
started, this year we brought her out from under
Silver Cord. Karen and her befriender remain
friends.
**_Very kind, gentle, warm human being. It_**
**_made me reconnect with humanity -_**
**_refreshing to realise that there are people_**
**_there. I think it’s amazing._**|Promotion of social
inclusion| |Weekly quizzes and other materials
have been posted to lonely, isolated
people.|Weekly general knowledge quizzes are
prepared and circulated to our clients on a
weekly basis.|The daughter of a befriending client, who is the
main care support to her mother contacted us
to say:
**_I always know if she has had a conversation_**
**_with you as she is so bubbly and upbeat. We_**
**_both look forward to the weekly quiz too! I’m_**
**_so grateful - having someone other than me_**
**_to chat to makes a massive difference to her._**|Promotion of social
inclusion| |The Living Room was established in
Hyde shopping arcade. This is a
1970s-themed community hub offering
a warm, safe space for people in the
community to gather for cheap
food/drinks, games, quizzes, jigsaw
puzzles and to begin to form
friendships with others.|The former retail space was negotiated for,
and fitted for use as a community hub.
Staff and volunteers were trained in food
hygiene, first aid and safeguarding. DBS
checks were done, Fire and PAT tests
completed and a 5-star rating provided by
environmental health.
And the Living Room opened to the public
on 4thNovember 2023. Since then, a
caring community has been established in
Hyde, made up of many regular customers
and even more occasional visitors.|*Terry*, 61, comes in every day we are open
and can stay all day. He commented:**_You make_**
**_new friends and can sit and have a chat. One_**
**_big happy family._**
*Jean*, 81 said:**_There should be more places_**
**_in the country like this. Wonderful for people_**
**_that live on their own._**|Promotion of social
inclusion| ___________________________________________________________________________________________________________________________________________________ Page 2 © Silver Cord Ministries | 2024 Trustees’ Annual Report **Silver Cord Ministries** ## **Trustees’ Annual Report** 29/6/23-31/3/24 |**Activities**|**Achievements**|**Impact**|**Charity Objectives**| |---|---|---|---| |On Christmas Day in 2023, Silver
Cord’s volunteers distributed meals
and gift bags to the lonely and isolated
people in Tameside who would
otherwise have spent the day alone.
Where possible, they also spent time
chatting with those to whom they
delivered the meal.|On Christmas day,**130 hot meals**were
distributed to some across Tameside by a
team of volunteers connected with Silver
Cord. With the food came a small gift bag
for each person receiving a meal, and a
friendly smile from the person delivering it.|**_Christmases would have been awful if not for_**
**_you. (_**_Female, 82_**_)_**
**_Living alone is hard at any time of year but at_**
**_Christmas it is much more difficult. Thanks_**
**_to you and your kindness and support – it’s_**
**_given me fresh hope for the coming year._**
**_You made an old man very happy indeed._**
**_(_**_Male, 86_**_)_**
*Cherry*, 80, received a delivery on Christmas
Day from a couple who lived locally. Following
this she now attends a weekly social group at
the local partner church.|Promotion of social
inclusion
and
Advancing the Christian
Faith| |Partnerships have been formed with
partner churches which provide a
source of befrienders and community
based activities and other services into
which our clients can be invited if
interested.|During this period, four individuals have
been signposted directly to church-based
community activities in which they
continue to receive friendship and support
and belong to a warm and welcoming
community.|*Doris*, 82, was supported for two years with
weekly calls. When COVID restrictions were
fully lifted, we closed the match as she started
to attend a group at the befrienders church.
Doris said:
**_I sit with her at the luncheon club now and_**
**_it’s a real friendship. She still keeps in touch._**
**_I have got Jesus in my heart - when you’re_**
**_really low in desperation it helps to pass it_**
**_over. He helped me to bear the pain._**|Promotion of Social
Inclusion
and
Advancing the Christian
Faith| |Where this is welcomed by our clients,
we have prayed with people and talked
with them about our faith and beliefs.
Some have recognised a personal
desire to know God and become part f
a church family. Where possible, we
have matched them with a church in
the local community.|Countless prayers have been offered, and
many conversations have taken place to
explain the basics of the Christian faith with
those who have expressed an interest.
Approximately ten people have started
attending local church services in this
period, of whom at least three described
having an awakening of personal faith in
God.|*Paula*, 61, started attending church with her
befriender. Last year she decided to get
baptised and is now a committed member of
the church. Paula commented:
**_[When] I met with the church it felt like I_**
**_belonged somewhere. I don’t feel like I’ll be_**
**_alone. I’d have been lost without it._**|Advancing the Christian
Faith| ___________________________________________________________________________________________________________________________________________________ Page 3 © Silver Cord Ministries | 2024 Trustees’ Annual Report **Silver Cord Ministries Trustees’ Annual Report** 29/6/23-31/3/24 ## **5. Financial Review** In the nine months from 29/6/23 to 31/3/2024, Silver Cord reports the following financial results (extracted from the Income & Expenditure Statement): |a.|**Income**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---| ||Individual Donations|£ 3,540|£ 322|£ 3,862| ||Church Partner Donations|£ 2,235||£ 2,235| ||Gift Aid Income|£ 714||£ 714| ||Living Room Shop Sales|£ 4,914||£ 4,914| ||Vinted Online Sales|£ 160||£ 160| ||Gifts & Grants (Unrestricted)|£ 7,942||£ 7,942| ||Grant Funds (Restricted)||£ 10,000|£ 10,000| ||**Total Income**|**£ 19,505**|**£ 10,322**|**£ 29,827**| |b.|**Expenditure**|**Unrestricted**|**Restricted**|**Total**| ||Employment Costs|£ 4,717|£ 10,000|£ 14,717| ||Living Room Shop Cost of Sales|£ 6,070||£ 6,070| ||Christmas/Easter Projects||£ 322|£ 321| ||Volunteer Support Costs|£ 478||£ 478| ||Office Costs|£ 704||£ 704| ||Training & Development|£ 489||£ 489| ||Professional Fees|£ 173||£ 173| ||IT & Comms Costs|£ 831||£ 831| ||Safeguarding Fees|£ 71||£ 71| ||Marketing & Publicity Costs|£ 749||£ 749| ||Travel & Subsistence Costs|£ 853||£ 854| ||**Total Operating Expenditure**|**£ 15,135**|**£ 10,322**|**£ 25,457**| |c.|**Surplus (Deficit)**|**£ 4,370**|**£ Nil**|**£ 4,370**| c. **Surplus (Deficit)** ## d. **Reserves Position** Silver Cord Trustees have agreed to hold a minimum unrestricted reserve level greater than the equivalent of 3 months of budgeted operating expenses which is estimated to be c. £6,000 in 2023/24 and rising to c. £8,000 in 2024/25. The unrestricted reserves at 31/3/24 were £8,723 which will provide just over 3 months’ of operating costs moving forward. ## e. **The Living Room Trading Surplus** The Living Room was opened on 4/11/23 and the rental agreement for the premises is in place until 11/9/26, subject to a 30 day notice period. On an ongoing basis, The Living Room is expected to contribute a trading surplus of c. £6,000 per year into unrestricted general funds. ## f. **Financial Risk** Silver Cord’s highest single expenditure stream is the cost of employment (one employee equivalent to 0.6 FTE during 2023/24) and the greatest risk to Silver Cord is the risk of not being able to pay this salary. During 2023/24, a significant proportion of the employment costs have been covered year by a generous donation from Action Together. It is anticipated that a further grant to cover employment costs will be awarded during 2024/25, but after that year, it will be necessary to raise sufficient funds through a combination of the Living Room trading surplus, individual donations and church partner donations to cover the increasing employment costs. Page 4 © Silver Cord Ministries | 2024 Trustees’ Annual Report **Silver Cord Ministries Trustees’ Annual Report** 29/6/23-31/3/24 ## **6. Future Plans** ## a. **Expand the Befriending Service Geographically** Silver Cord’s plans for the upcoming year 2024/25 are to expand carefully beyond the geographical region of Tameside & Glossop which has been the focus of activity since the befriending service was originally established in 2017. A small and manageable number of church partnerships (probably two) will be actively pursued in Manchester Central and/or Stockport MBC during 2024/25 and volunteers recruited and trained to provide the befriending service in their local community. ## b. **Consolidate What Exists** In addition to the geographical expansion into other areas of Greater Manchester, it is also important to consolidate Silver Cord across Tameside and Glossop. This will require a focus on strengthening the existing church partnerships and recruiting volunteer co-ordinators and befrienders to reduce the backlog of clients awaiting the service. Further to this, the Living Room volunteer team needs to be strengthened. ## c. **Develop a Sustainable Fundraising Strategy** Silver Cord trustees recognise that the charity is presently over-reliant on grant funding to cover core running costs (especially employment costs). It is necessary, and increasingly urgent, to add additional streams to our fundraising mix, and to grow the elements which already exist. Our strategy is to fund operating costs through church partner donations, individual personal donations and the trading surplus from the Living Room (and other similar ventures in the future), and to use grants towards special projects and one-off events. The Silver Cord fundraising mix currently comprises: - i. **Grants** towards operating costs (including employment costs) and projects (e.g. Christmas and Easter projects, day trips, community events and volunteer celebrations). We have been and are being wonderfully supported by a range of funding bodies including The Jigsaw Foundation, Action Together, Tameside MBC (winter pressures fund etc.), The Lions Lair and others. - ii. **Church partnerships** : we have five church partners each contributing c. £600 per year. We aim to increase this to ten partner churches. - iii. **Individual donors** : we presently have 20 regular individual donors collectively contributing c. £550/month to general funds. We aim to double this amount during the course of 2024/25. - iv. **The Living Room trading surplus** : the Living Room currently contributes a trading surplus of c. £500/month to general funds. By growing the volunteer team as mentioned in 6b. above, it may be possible to increase our opening hours and serve more customers, and in this way, grow our trading surplus by a modest amount, perhaps by £100/month. By successfully implementing these plans, it will be possible to grow our core (i.e. non grant) fundraising income from c. £15,600 (24/25) to £26,400 (25/26). Page 5 © Silver Cord Ministries | 2024 Trustees’ Annual Report **Silver Cord Ministries Trustees’ Annual Report** 29/6/23-31/3/24 ## d. **Quality in Action Award (QiAA)** Action Together in Tameside and Oldham provides a free audit of charitable organisations’ quality systems, policies and procedures. It is the aim of the trustees to successfully complete this audit during the 2024/25 financial year as an external validation of the existing systems and approach to risk management. The QiAA process will evaluate Silver Cord’s systems in the following areas, and assuming compliance is demonstrated in each area, an award will be made to Silver Cord to confirm this: - i. Organisational Governance - ii. Safeguarding - iii. Safe Recruitment of Staff & Volunteers - iv. Health & Safety - v. Qual Opportunities - vi. Promotion & Partnerships - vii. Finance ## **7. Risks and Uncertainties** Silver Cord trustees are in the process of developing a risk management register, having identified the following salient risks currently facing the charity. - a. Funding shortfall - b. Regulatory compliance failure - c. Safeguarding breach - d. Data protection breach - e. Turnover or extended absence of key personnel - f. Reputational damage - g. Inadequate governance - h. Project delays - i. Volunteer shortages - j. Fraud or financial mismanagement - k. Failure to meet community needs A review of the risk management register is a standard agenda item at all future trustees meetings. For each of the risks identified, an assessment of the likelihood of occurrence and the severity of impact has been made, and a risk mitigation action plan, supported by relevant policies and procedures, is being developed in light of this. furthermore, responsibility for overseeing each risk category is being assigned. ## **8. Fundraising Activities** As previously described in section 6c. above, Silver Cord’s fundraising strategy currently comprises the following activities which made up the indicated proportion of total income during the 2023-24 financial year. |a.|Church Partner Donations|£ 2,235|7.5%| |---|---|---|---| |b.|Individual Donations|£ 3,862|12.9%| |c.|Trading Income (Living Room/Vinted)|£ 5,061|17.0%| |d.|Grants Awarded|£ 17,955|60.2%| |e.|Gift Aid|£ 714|2.4%| Page 6 © Silver Cord Ministries | 2024 Trustees’ Annual Report **Silver Cord Ministries Trustees’ Annual Report** 29/6/23-31/3/24 From this simple analysis, it can be seen that Silver Cord is currently heavily, indeed over-reliant on grants awarded to cover basic operating costs. This is a matter requiring urgent attention during the forthcoming financial year with a view to seeing the operating costs funded by individual and church donations and the trading surplus. The full-year net operating costs in 2024/25 are anticipated to be in the order of £36,000. A further grant to part-cover employment costs is anticipated during the 2024/25 financial year. Accordingly, we anticipate a full-year funding target of c. £21K from church partner donations, individual donations and trading income from the Living Room. This represents an increase of c. 33% in donations compared with 2023/2024. ## **9. Statement on Governance** The charity is governed by its Board of Trustees, who are responsible for ensuring that the charity is well-managed, complies with applicable laws and regulations, and achieves its charitable objectives. ## **Structure and Governance** The charity is a Charitable Incorporated Organisation (CIO) and operates in accordance with its Governing Document. The Board of Trustees, who have ultimate responsibility for the charity's governance, is comprised of individuals with a diverse range of skills and experience relevant to the charity’s work. Trustees are appointed through a formal recruitment process, ensuring alignment with the charity’s needs and a commitment to its values. New trustees will receive an induction that includes an overview of the charity’s mission, governance structure, and relevant legal responsibilities. Trustees also receive ongoing training and development as required. ## **Trustees' Role** The Board of Trustees meets regularly, at least four times per year, to review the charity’s strategic direction, monitor performance, and make key decisions. The Trustees delegate day-to-day operations to the Chief Executive, who reports to the Board on operational matters. Trustees receive detailed financial reports and updates on key projects to ensure that they maintain oversight of the charity’s work. ## **Risk Management** The charity maintains a risk register, which is reviewed regularly by both the senior management team and the Trustees. The charity operates a risk management review process to identify and mitigate risks to its operations, reputation, and financial stability. Major risks identified during the year included safeguarding, data protection and volunteer recruitment risks, and mitigating actions were put in place to reduce their potential impact. ## **Internal Controls** The Trustees are responsible for ensuring that the charity has adequate systems of internal control, designed to safeguard the charity’s assets and ensure the reliability of financial reporting. These controls include appropriate policies, processes, and oversight mechanisms. The charity also complies with data protection laws and undertakes regular reviews to ensure adherence to best practice in governance and compliance. Page 7 © Silver Cord Ministries | 2024 Trustees’ Annual Report **Silver Cord Ministries Trustees’ Annual Report** 29/6/23-31/3/24 ## **Compliance & Accountability** The charity adheres to the regulatory requirements set out by the Charity Commission for England and Wales and ensures that all statutory filings are made in a timely and accurate manner. The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s activities and plans for the year ahead. ## **Looking Ahead** The Board will continue to focus on strengthening governance practices, fostering diversity, and ensuring that the charity remains sustainable and impactful in achieving its mission. In the coming year, we aim to secure external verification of the suitability of our policies and procedures (through Action Together’s Quality In Action Award (QiAA)) and work to improve our fundraising activities. The Trustees are confident that the governance framework in place is sufficiently robust and will continue to support the charity in delivering its objectives effectively. ## **10.Acknowledgments** The Trustees wish to acknowledge the following individuals and other agencies who have supported Silver Cord’s work during the year. - a. Our Chief Executive, Mrs Debs Peyton, who has worked tirelessly and with considerable grace and expertise to ensure that Silver Cord (and the Living Room) continues to satisfy its charitable objectives in a way that exceeds the expectations of those who benefit from its services. - b. Our team of wonderful co-ordinators and befrienders who give their time freely, reliably and generously to show friendship to the lonely and isolated in the local community and serve them in practical ways where possible. - c. Our team of faithful volunteers who generously offer their time in the Living Room, serving our many customers with a smile and a listening ear, and make the place a safe and welcoming space to make new friends and build a community. - d. Our generous donors and funding providers from those individuals donating £5/month or more, and our partners churches each making an annual donation of £600, and our supportive partner agencies who have provided grants of thousands at a time (TMBC, Action Together, Jigsaw Foundation, The Lion’s Lair and others). Page 8 © Silver Cord Ministries | 2024 Trustees’ Annual Report ## Annual Report for the period post incorporation 29 June 2023 to 31 March 2024 ## Silver Cord Ministries Prepared by Andrew Jenkinson ## **Balance Sheet** |**Balance Sheet**|| |---|---| |**Account**|**31 Mar 2024**| ||| |**Cash at bank and in hand**|| |Silver Cord Ministries|12,236| |**Total Cash at bank and in hand**|**12,236**| |601-Cheque or cash in transit|5,500| |
602-Cash in safe|164| |610.1 - Gift aid receivable|714| ||**18,614**| |805-Accruals|1,172| |810.1-Deferred income Lion's grant to fund Operational staff|6,000| |
825-PAYE Payable|326| |
850 - Suspense|0| ||**7,498**| |**Net Current Assets (Liabilities)**|**11,116**| ||| |**Total Assets less Current Liabilities**|**11,116**| ||| |**Net Assets**|**11,116**| ||| |955-Restricted reserve Action Together|5,000| |
970-General Reserves arising from transfer from Elim church|1,746| |
Current Year Earnings|4,370| ||**11,116**| ## **Income and Expenditure statement** |**Income and Expenditure statement**|| |---|---| ||**2024**| |**Revenue**|| |200-Donations individual gift aid authorised|2,226| |200.01-Donations attracting GASDS|626| |200.1-Donations individual none gift aid|615| |200.2-Gift aid income received or receivable|714| |200.3-Donations from church partners|2,235| |200.4-£5 per month donations|395| |200.5-Gifts and grants received unrestricted funds|7,955| |209-Grant fundingAction Together restricted reserve|10,000| |215-Living Room shop takings|4,903| |215.1-Vinted sales|160| |**Total Turnover**|**29,827**| |**Cost of Sales "Living Room"**|| |310.0-Living room stock clothes|78| |310.1-Living room stock Bric a Brac|195| |310.2-Living room food stuffs|1,553| |310.3-Living room other consumables|619| |310.4-Living room repairs and maintenance|1,047| |310.5-Living room shop equipment|719| |310.6-Living Room Licences|155| |310.7-Living Room: Christmas Decorations|19| |310.8-Living Room: Electricity|1,371| |310.9-Living Room: Water|175| |311.0-Living Room: WiFi Router/Broadband|107| |**Total Cost of Sales "Living Room"**|**6,038**| |**Gross Surplus**|**23,789**| |**Administrative Costs**|| |300.0-Christmas Day project|40| |300.1-Christmas Day Lunches: Gift Bags|512| |300.2-Recharge to specific reserve Christmas lunch expenses|(552)| |300.21-Deficit (spend over funding) vis Christmas dinner|190| |300.3-Easter Gift bag charges (covered by a Gift Aid sponsor)|131| |320-Net staff salary|12,275| |320.1-Net salary charged to restricted reserve|0| |320.4-5% employer's 5% pension contributions (Aegon)|1,613| |320.5-Pension contributions (Aegon) recharged to restricted reserve|(0)| |320.6-Paye and Ni charges|829| |320.7-Paye and Ni charges recharged to restricted reserve account|(0)| |325-Training material|9| |326-Office costs postage and stationery|695| |350.1-Volunteer Support: Cards, Chocolate and Flowers etc|478| |350.2-Volunteer Costs: Refreshments|32| |401-Audit & Accountancy fees|10| |404-Bank Fees|60| |425-Postage & Stationery|9| |433-PL Insurance (Ansvar)|103| |441.1-Safeguarding UCheck|71| |461-Printing & publishing News Letter|221| |462-Marketing & Publicity Website|528| |463-IT Software and Consumables|200| |480-Staff Training|480| |489-Telephone & Internet|631| |493-Travel-National|854| |**Total Administrative Costs**|**19,419**| |**Operating Surplus**|**4,370**| CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Silver Cord Minislries On accounts for the period endod 3110312024 Charity no (if any) 1203795 Set out on pages 1 to4 I report lo the trustees on my examination of the accounts ofthe above charity I'the Trust") for the period ended 3110312024 Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounls in accordance with the requirements of the Charities Act 2011 ("the Acr). I report in raspect of my examination of the Trust's accounts Garried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5}Ib) of the Act. I have completed my examination. I confimi that no material mallers have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordan￿ with section 130 of the Act or the accounts do not accord with the accounling records Independent examiner's statement I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Signèd: qs- Date: 1510112025 Name: Stephen Roy Lucas Relevant professional qualification(sl or body (if any): Company Accountant Time served over forty years Address: 3 Bell Street Droylsden M43 7AU Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts.. directions and guidanGe for examiners). IER October 2018 Glve here brlef details of any items that the examiner wishes to disclose. IER October 2018 Income and Expenditure statement 2024 Rev8nue 200- Donations I￿l￿dU81 gift ald aultDrised 200.01- Donation5 attracb.ng GASDS 200.1- injilAd￿l rK)rE gift aid 200.2- GfrR ald Income recgl%td or recelvab 200.3- Donat'ons trom chjrch partrErs 200.4- £5 per morth dormttor 200.5. Glfts ard grarts re￿1￿￿ Lmstrfded 209- GrantfuThJiTrJAction Togeth&rrestiicled reseThp 215- L1￿rwj Room S￿1p takSr¥Js 215.1- Vlnted sales Total Tumover 2226 626 615 714 2235 395 7,955 10,000 4.903 160 29027 Cost of Salos "Llvln RDOM" 310.0- Liwng room stock dothès 310.1- Li¥ing room sthk Bric 8 Brdc 310.2- Liling room food stLJff 310.3- Liiing room 0￿r cor*unableg 310A. ￿ling rocvn Tepair5 and mairrterp 310.5- room slK)p eqtRpment 310.6- Rc)orn ￿C8r￿S 310.7. U*iryJ Roorn.. D8coratior 310.8- LI￿7￿ Room.. El8ctdclty 310.9. LI￿7￿ Room.. Water 311.0. LiwTrJ Rgom.. WIFI Routerfaroadbarnl Totsl Cost of Sales-Lfvln9 Room- 78 195 1.553 619 1.047 719 155 19 1.371 175 107 6￿38 Gr085 su lus 23.789 Admlnlstratlvts Costs 300.0- Chrithas Dayprojeci 300.1- Cmstrnas Day LUrt￿S.. Glft Bags 3002. Rethrge to speL¥fic reser%¢ Chrisbnas exper60s 30021- D6fidtlsp6rd o*rfLM)JirKJ} ￿$ ChisbnasdiweT 300.3- Easter r￿ft bag cforges (covered bya GIft￿d spowrl 320- Net5taff salary 320.1- Net sakqrycharged to reslricled reseThe 320.4- 5% employefs 510 pènsion ¢￿￿b￿Cr6 IAesonl 320.5. P￿r￿SOn eontrfbutiorts (Aogonl rochaffded kn restricied reser¥t 320.6- Pay8 arKI Ni charg85 320.7. Paye arvj Ni charges recl*rged b) restricied reserw actx) 325- Trydinlng rnatèrtal 326- Office costs Postage arNJ statio 350.1-Volwteer Suwortr. Cards. C1￿colate arKI Fk)wtts elc 350.2-Volwteer Costs., Refreshm8rt8 401 . Audit & A¢cowtsrLyfg9s 404-8ark Fees 425- Postage & Stationery 433- PL In5uraFre (Ansvar) 441.1- safeg￿rd}r￿ UChe¢k 461 - Printiry & News Lett8r 462- Markeljry & Publcltywebsite 463- rr Sothyare cOn￿rnab￿S 480-St#ff TrAI￿rg 489-re1epl￿rne & krtemet 493-T18￿1- Nalonal Total Admlni5trative Costs 40 512 (5521 190 131 12.275 1,613 101 829 10) 695 478 32 io 60 103 71 221 528 200 631 854 19,419 er0￿n Sur lu$ 4370 Annual Report for the period post incorporation 29 June 2023 to 31 March 2024 Silver Cord Ministries Prepared by Andrew Jenkinson Balance Sheet Account 31 Mar 2024 Cash 81 bank and in hand Sil¥Er Cord Mnlstrles rotal Cash at bank and In hand 601- Cheque or cash In translt 602- Cash In Safe 610.1 . Glft aid r8ceivdb18 12,236 12236 s￿00 164 714 18.614 805-knals 810.1- Deferred inrom9 Lion s grantto lund i>>eraOonal staff 825- PA￿ Payable 850- Suspense 1,172 6,000 326 7,498 Net CurrentAFsets Uabilltkns Tolal Assets ￿sS Current Llabllrtles Net Assets 955 - Restrlctod reser¥e Toggther 970 . Genefal Rg8eThes arising frorn transferfrom Ellm churth Current Y88r Eamlngs 5.000 1,746 4,370 11.116