## **Trustees’ annual report on activities in the year 2020**
The Silverton Parochial Trust, formally known as the Silverton Parochial Charity, comprises numerous individual bequests to benefit the poor of the parish, some dating back nearly 400 years. The present scheme was approved by the Charity Commission in 1990, combining the many bequests and legacies into a single manageable charity fund. The Trustees are charged with the task of managing the fund and applying the income to the relief of hardship or need to persons resident within the Silverton parish boundary. When those needs are met there is a secondary responsibility to apply the surplus to the general benefit of the parish.
The Trust remains in a satisfactory financial state, and it continues to fulfil the general aims and objectives of the original benefactors in meeting the claims of the needy within the parish. When an application is received and the need established, the Trustees are able to help from the funds available.
The Trust is managed by Trustees, whose names are listed at the end of this report, their appointment being in accordance with the terms of the Trust Deed. The Ex-Officio Trustee is the incumbent of the benefice of St Mary the Virgin, Silverton who was appointed as Rector of the parish in March 2020. There are currently 7 other Trustees and two officers (a treasurer and a secretary) who are not Trustees.
The Trustees held six meetings in the year 2020 with the scheduled meetings in March, April May and June cancelled due to Covid. However, the Trustees continued to stay in touch via email and continued transacting business and dealing with applications. The average Trustee attendance of the six meetings being 4.6
## **Finances**
The Trust continues to have more than one income stream and is in a sound position to maintain its obligation in serving the needs of the least fortunate in the Parish.
Grants were given to twelve people and three Community projects this year, a welcome increase from 2019. Overall, the net receipts and payments for both this year and 2019 were very similar. However, some £11,000 more was spent on grants in 2020, mainly offset by a saving of a similar amount on property maintenance in this year. Over the last few years all four properties have been improved substantially and the benefit is now becoming evident. As reported last year, the roof of the three terrace houses will need to be replaced in the foreseeable future, and £30,000 is currently held in savings for this.
The financial statement for the year ending 31st December 2020 is included with this report. Income for the year was £36,620 [£35,328]. A modest increase in the Land and Property rents was the main cause of the small increase in income this year.
Expenditure was 5% more than in 2019 at £25,481 [£24,227]. Grants for Community projects and to individuals totalled £15,261 [£4,103], while property repairs were substantially lower, amounting to £5,567 [£15,727] and the property management fee was £3,187 [£3,048]. Insurance and Administration costs were £1,466 [£1,349].
The Trust’s cash funds at year end stood at £9,932 [£9,793] in Lloyds Bank plus a reserve of £43,000 [£32,000] in the COIF Charities Deposit Fund. The year’s income from the COIF Charities Investment and Deposit Funds was £6,320 [£6,298]. The value of the Investment Funds at year end was £302,906 [£282,104]. The book values of the properties and lands have been retained at £563,000.
## **Grants in Aid**
The Trust currently pays the Mid Devon District Council rent for six personal alarm systems; it was seven last year. Grants were made to assist twelve parishioners with some immediate needs and to three community projects.
## **The Future**
The Trustees continue to be pro-active in identifying cases of need of assistance and to publicise the trust within parish organisations. Covid and continuing financial restrictions and pressures have increased calls for assistance which the Trust has been able to meet, and it is anticipated that applications will increase as the effects of the pandemic continue to be felt within the parish. The Trustees continue to enjoy an excellent relationship with the carers and other organisations within the parish, thus helping to maintain a public awareness of the Trust and its purpose within the community. In the coming financial year, the Trustees will continue the refurbishment of some properties.
## _Jane Isaac_
July 2021
## **Silverton Parochial Trust: Trustees and additional officers 2020**
**Mr James Blackburn** 24 Fore Street Silverton EX5 4HP
**Mr Adrian Bolt** 7 Ellerhayes Hele EX5 4PU
**Joining as a new Trustee in September 2020** The Revd Paul Kingdom, The Rectory, 21a King Street, Silverton EX5 4JG
## **Additional Officers**
**Mrs Jane Isaac** 24 Silverdale, Silverton Ex5 4JF
## **The Rev’d Preb Alan Macdonald**
14, Applemede Silverton EX5 4JX
**Mrs Jill Riggs** Penstone Farmhouse Lease Hill Hele EX5 4QA
_Secretary_
_The Rev’d Preb Sue Sheppard Lamb Cottage 49 Fore Street Silverton EX5 4HZ_
_Joining as the new Secretary in September 2020 Ms Maggie Smith 52 Wyndham Road Silverton EX5 4JZ_
## _Treasurer_
**Mrs Sue Sherburn**
The Old Police House 2, Parsonage Lane Silverton EX5 4JB
_Mr Richard Truran 79 Wyndham Road Silverton EX5 4JZ_
## **Mrs Sue Tucker**
24 Wyndham Road Silverton EX5 4JU
The Silverton Parochial Trust
Registered as The Silverton Parochial Charity No. 201255
## **Statement of Financial Activities for Year ended 31[st] December 2020**
|**Section A**
**Receipts and Payments**
Total Funds
£
**A1**
**Receipts**
2020
Property and Land Rent
30,260
COIF Charities Deposit Fund
94
COIF Charities Investment Fund
6,236
Western Power Wayleave
30
Total receipts
**A2**
**Asset and Investment sales etc.**
Nil
**A3**
**Payments**
2020
Property Repairs
5,567
Insurance premiums
712
Administration
754
Property Management Fees
3,187
Grants to individuals and community projects
15,261
Total payments
Net Receipts/(Payments)
**A4**
**Asset and Investment purchases, etc.**
**A5**
**Transfers between funds**
Transfer to COIF Charities Deposit Fund
**A6**
**Cash funds last year end**
**Cash funds this year end**|Total Funds
£
£
2020
2019
29,000
186
6,112
30
36,620
Nil
2020
2019
15,727
769
580
3,048
4,103
25,481
11,139
Nil
[11000]
9,793
9,932|£
2019
35,328
2019
24,227|
|---|---|---|
|||11,101
Nil
[12000]
10,692|
|||9,793|
Page 1
Independent examinerfs report on
the accounts
CHARITY COMMISSION
FOR ENGLAND AND WALES
Section A
Independent ExamFner's Report
Report to the trusteesl
members of
SILVERTON PAROCHIAL CHARITY
On aGcounts for the year
ended
ST
31 DECEMBER 2020
Charity no
(If any)
201255
Set out on pages
1to3
Respective
responsibilities of
trustees and oxaminer
The charty's trustees are responsible for the preparation of the accounts.
The charitys trustees consider that an audrt is not required for this year
und8r section 144 of the CharEties Act 2011 (Ihe Charities Act.) and that an
independent examination is needed.
It is my responsibilty to:
examine the accounts under section 145 of the Charities Ad,
to folli)w the procedures laid down in the general Directions given by the
Charity Commission (under section 145(5){b} of the Charities Act. and
to state whether particular matters have come to my attention.
Basls of independent My examination was carried out in accordance with general Directions gNen
examinevs statement by the Charty Commission. An examination includes a review of the
accounting records kept by the charity and a comparison of the accounts
presented wtth those records. It also includes consideration of any unusual
Ètems or dtsdosures in the accounts. and seeking explanations from the
trustees Gonceming any such matters. Tre procedures undertaken do not
provTrde all the evidence that would be required in an audrt, and
consequently no opinion is given as to vthether the a¢¢ounts present a Irue
and fairf view and the report is limited to those rnatters set out in the
ststement Èelow.
IER
Independent In ¢onneGtion with my examination. no matter has come to my attention
examingr's statement other than that disclosed below
1. which gives me reasonable cause to believe that in. any material respect.
the requirements:
to keep accounting records in accordance with section 130 of the
Charrttes Act., and
to prepare accounts which accord with the accourrting records and
comply with the accounting requirements of the Charities Act
have not Leen met." or
2. to which, in my opinion, attention should be drawn in order to 8nable a
r understanding of the accounts to be reached.
Signed: |
Name:
Date:
23 JANUARY 2021
DUNCAN CHAR
S HARRINGTON
Relevant professional
qualification(s) or body
(if any):
BA (Hons) - FINANCIAL SERVICES
FELLOW OF THE LONDON INSTITUTE OF BANKING & FINANCE
Address:
LEIGH CQThAGE, LEIGH BARTON
SILVERTON, DEVON
EX5 40A
Section B
Disclosure
Only complete if the examiner needs to highlight material problems.Eg accounting records
have Thotbeen keptlR a[dance s132 of the Chartbes. Act 2011 and those aco)unts do notcomply
with the fEquiremettsofthe 2008 Regulationstting outtheforn an¢J Cotent0f¢8r[ty accourts,. any
material expenditute oraction which appears notto be ID 8ccordan¢ewiththetrusts ()fthe chaiity. any
failureto be provided wrth infomiation and explan¥b"onsby any past orpresenttnjstee, officerDremployee:
and atry material consi*ncy btheentheaoVnts2nl the trustee5' annual Port.)
IER