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2024-03-31-accounts

Trustees’ Annual Report for the period From 1[st] April 2023 to 31[st] March 2024

Charity name: Silvester Horne Institute and Holt Endowment Fund

Charity registration number: 215846 and 215846-1

1. Objectives and Activities

1.1 Purposes

The Council (as sole Trustee) shall permit the property known as the Silvester Horne Institute to be used as an institute and club for the use of residents in the Urban district of Church Stretton and its neighbourhood.

1.2 Main Activities

Management of Silvester Horne Institute and Institute Cottage.

Provision of buildings and facilities for:

1.3 Statement on Public Benefit

The public benefits are:

2. Achievements and Performance

The Silvester Horne Institute provides residents with a valued place to meet, be entertained and attend groups.

The availability of the institute provides residents with opportunities to:

1

The institute is a valued local historical building.

2.1

Events

The SHI Events group staged the following events during the year.

The total profit for the events, organised by the volunteers were £4,789. These are donated to the institute for repairs and improvements.

2.2 Room Hire

The income from room hire services the building covering running costs. There was an increase in private and commercial hire. Income from room hire was £915 higher than the previous year.

Room hire rates were reviewed in 2022 and increases averaging 6% agreed.

3. Financial Review

3.1 Receipts and Payments Account

31st March 2023 Receipts 31st March 2024
24.00 Interest 573.00
9655.00 Events 10,403.00
6,492.00 Rent 6,492.00
17,320.00 Hire 16,445.00
653.00 Refund 460.00
54.00 Grants and Donations 0.00
34,199.00 34,373.00
Payments
180.00 Administration 429.00
8,670.00 Cleaning and Caretaking 8,990.00
2,761.00 Heating and Lighting 3,306.00
770.00 Water 1,475.00
4,640.00 Repairs and Renewals 35,527.00
240.00 Independent Examination 252.00
1,182.00 Purchase Equipment 0.00
5,030.00 Events 7,158.00
23,473.00 57,138.00

2

60,097.00 Opening Balance 70,822.00 34,198.00 Plus Receipts 34,373.00 - 23,473.00 Less Payments 57,138.00 70,822.00 48,057.00 Represented By 11,359.00 Community Direct Plus Account 18,930.00 50,754.00 Business Select Instant Access 29,327.00 8,709.00 Virgin Deposit Account 0 70,822.00 48,057.00

3.2 Accounting Statements

3.3

Reserves

There are no restricted reserves. The Council as trustees have reviewed the budget and earmarked funds for the next financial year.

3.4 Assets

The Charity held the following assets as of 31[st] March 2023. Buildings Institute Hall 305,000 Institute Cottage 225,000 Building Contents 26,307 Boilers 2,000

4. Structure, Governance and Management

Church Stretton Town Council is sole Trustee of the Silvester Horne Institute Charity incorporating the Holt Endowment Fund as bequeathed in the Indenture dated 17[th] April 1917. The Council consists of 13 democratically elected members who are all appointed as Trustees of the Charity on their acceptance of office. The aims and objectives of the Charity are set in the Indenture.

The Board of Trustees meets at least twice a year in public session, for the Board to be quorate it must have at least 5 Councillors present. The Chair of the Council is also the Chair of the Board of Trustees. All notices of meetings, agendas, minutes and reports relating to the Charity are published on the Council’s website and members of the public are invited to speak at meetings.

Decisions relating to the day to day running and financial management of the Charity are managed by the Town Clerk / RFO in line with the Council’s Standing Orders.

Council staff cover the arrangements for the running of the Silvester Horne Institute, including booking, arranging Council led events, caretaking and cleaning arrangements and health and matters relating to health and safety. A team of volunteers organise regular events and performances in the institute and manage the events website. All proceeds from this activity are donated to the Charity for repairs and improvements to the building.

3

All volunteers are recruited and inducted in line with the Council’s volunteer guidelines, which requires all volunteers to work within the terms of the role agreed with the organisation and not to exceed any authority conferred by that role.

5. Reference and Administrative details

Charity name Silvester Horne Institute
Holt Endowment Fund
Other name the charity uses NA
Registered charity number 215846
215846-1
Charity’s principal address c/o Church Stretton Town Council
60 High Street
Church Stretton
Shropshire
SY6 6BY

6. Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date

4

Silvester Horne Institue 215846 215846-1 Receipts and payments accounts CC16a For the period 01/04/2023 31/03/2024 To from

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest £
573
10,403
6,492
16,445
460
-
-
-
34,373
-
-
-
34,373
8,990
3,306
1,475
35,527
252
7,158
429
-
-
57,138
-
-
57,138
- 22,765
-
70,822
48,057		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
573
10,403
6,492
16,445
460
-
-
-
34,373
-
-
-
34,373
8,990
3,306
1,475
35,527
252
7,158
429
-
-
57,138
-
-
57,138

- 22,765		 Total funds
to the nearest £
573
10,403
6,492
16,445
460
-
-
-
34,373
-
-
-
34,373
8,990
3,306
1,475
35,527
252
7,158
429
-
-
57,138
-
-
57,138

- 22,765		 Last year
to the nearest £
Interest 573 24
Events 10,403 9,655
Rent(Cottage) 6,492 6,492
Room Hire 16,445 17,320
Refunds 460 653
Grants and Donations - 54
- -
- -
Sub total(Gross income for
AR)		 34,373 34,199
A2 Asset and investment sales,
(see table).
-
-
 -
~~Sub total~~ - -
Total receipts
A3 Payments
34,199
Cleaningand Caretaking 8,990 8,670
Heatingand Lighting 3,306 2,761
Water 1,475 770
Repairs and renewals 35,527 4,640
Independent Examination 252 240
Events 7,158 5,030
Administration 429 180
- -
- -
**Sub total ** 57,138 22,291
A4 Asset and investment
purchases, (see table)
- 1,182
**Sub total ** - 1,182
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
23,473
- 22,765 - -
- 22,765		 10,726
- - - - -
70,822 - - 70,822 60,096
48,057 - - 48,057 70,822

CCXX R1 accounts (SS)

20/12/2024

1

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period
Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Community Direct Plus
Business Select Account
Virgin Deposit Accokunt
Details
Details
Hall
Cottage
Equipment
Boilers
Details
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
18,730
-
29,327
-
-
-
48,057
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
Restricted
-
Restricted
-
Unrestricted
-
Unrestricted
2,000
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
305,000
225,000
26,307
-
-
-
-
-
-
When due
(optional)
Date of
approval

CCXX R2 accounts (SS)

20/12/2024

2

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

The independent examination of the Silvester Horne Institute Charity Accounts was carried out by undertaking the following tests:

Conclusion

Please see the independent examination certificate for the statutory conclusion. The action plan overleaf details the issues identified during the independent examination relating to improvements in the system of accounting and governance..

JDH Business Services Ltd

Page 1 of 8

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

ACTION PLAN

Test Area Findings Action Management
Response /Follow Up
2023/24 independent examination
Filing with the Charity
Commission		 The 2022/23 accounts were filed
within deadlines – no issues arising
Review of the receipts and
payments accounts		 The draft CC16A accounts were
prepared on the incorrect accounting
basis as accruals accounts with a
Balance Sheet were presented.		 The issue was corrected for the
final version of the accounts.
The council should ensure
receipts and payments accounts
are prepared annually for the
charity.
Trustee report and CC16A
receipts and payments
accounts		 Inconsistencies between the financial
information presented in the draft
Trustee report and the draft Charity
CC16A accounts were identified and
notified to the clerk.		 The issue was corrected for the
final version of the accounts.
When completing the accounts
and Trustee report, all financial
information should be checked for
consistency before submission for
independent examination.

Page 2 of 8

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

Test Area Findings Action Management
Response /Follow Up
Internal Controls No evidence was provided that
Trustees formally reviewed all Charity
internal controls during the financial
year although we note internal controls
including recording and reconciliation
of the Rialtas ledger is consistent with
the prior year.		 Trustees should review the
adequacy of all charity internal
controls annually.
Transaction samples No issues arising
Review of bank reconciliations No issues arising
Analytical review procedures No issues arising
2022/23 independent examination
Review of the receipts and
payments accounts		 The receipts and payments accounts
disclose £34,198 for total income in
the CC16 accounts, however, the
Rialtas summary receipts and
payments accounts provided disclose
total income of £34,002.		 The difference between the
Rialtas ledger and the CC16
accounts must be investigated and
resolved.		 Resolved - The
adjustment was to
convert the accounts to
Receipts and Payments
accounts

Page 3 of 8

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

Test Area Findings Action Management
Response /Follow Up
Draft trustee report and CC16
receipts and payments
accounts template		 The reserves analysis includes £19,403
of earmarked reserves as restricted
funds on pages one and two of the
CC16 accounts.
The earmarked reserves are not the
same as restricted funds as they are
merely unrestricted funds that have
been earmarked for potential
projects/schemes by the trustees. A
restricted fund is_'property (including_
money) given to a charity for a
specific purpose and in respect of
which conditions have been imposed
_as to its use'._The Trustee Report also
clearly states that there are no
restricted funds.		 The earmarked ‘restricted funds’
should be recategorised back to
unrestricted funds and a notional
record maintained of the split in
unrestricted funds between
general reserves and earmarked
reserves.		 The final CC16
accounts were
amended to correct for
this issue.
Trustee Report Section 3.4 discloses the fixed assets
held at 31/03/2022.		 The correct year end date for
2022/23 should be included for
fixed assets is 31/03/2023.
Internal Controls Trustees did not formally review all
Charity internal controls during the
financial year although we note
internal controls including recording
and reconciliation of the Rialtas ledger		 Trustees should review the
adequacy of all charity internal
controls annually.

Page 4 of 8

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

Test Area Findings Action Management
Response /Follow Up
is consistent with the prior year. In
addition, the minutes of March 2023
record approval of changes to improve
the hall bookings system and pricing.
2021/22 independent examination
Revised trustee report and
CC16A accounts		 The analysis of the receipts and
payments in the updated trustee report
is inconsistent with the CC16A
accounts as debtors have been shown
in the lower half of the statement in
the trustee report, in order for the
accounts to agree to the CC16A
receipts and payments accounts.		 The trustee report should be
corrected to simply show the
same receipts in as is in the
CC16A accounts. Therefore, the
debtor adjustment should also be
removed in the Trustee Report
analysis.		 Implemented
Draft trustee report and
CC16A accounts		 There were a significant number of
inconsistencies between the financial
information presented in the first draft
trustee report and the CC16A
accounts.
We advised the clerk to utilise the
Charity Commission template for the
trustee report to provide a more
concise and accurate presentation of
information required. This has now		 The Charity Commission template
for the Trustee report should be
used for each financial year.		 Implemented

Page 5 of 8

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

Test Area Findings Action Management
Response /Follow Up
been done and re-submitted to us for
review. See above issue re. updated
version of Trustee Report.
Income testing A sample of hire invoices could not be
agreed to the pricing per the price list
provided to us. The price list provided
to us is dated 2018		 The pricing and audit trail from
the booking, invoice and price list
needs to be improved. Any
discretionary/concessions
available must be approved by
the meeting of the sole trustee.
The hire price list should be
reviewed annually and approved
by the sole trustee.		 Implemented – pricing
has been reviewed by
the Trustees and a new
price list established
and applied.
Analytical review – energy
costs		 Significant issues have been identified
by the council clerk with respect to
energy bills including a credit that had
not yet been refunded, the gas account
had incorrectly been in the name of the
Church Stretton Recreation Park
Sandford charity, and no exemption
had been received for reduced VAT
and CCL for charity status. No rec the
clerk is currently resolving these
issues and has claimed the Charity
exemption for reduced VAT and
Climate ChangeLevy.		 No recommendation – the clerk is
currently resolving issues with
respect to energy bills and charity
exemption has been claimed with
HMRC.		 No further issues.

Page 6 of 8

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

Test Area Findings Action Management
Response /Follow Up
2020/21 independent examination
Follow up prior year issues There are still actions outstanding
from the prior year action plan.		 Recommendations should be
implemented on a timely basis.
2019/20 Action Plan
Review of accounts and
disclosure notes		 The note B4 states that all fixed assets
belong to the ‘unrestricted’ fund.
Also see issue re consistency of
account categories below.		 The sole trustee is currently
reviewing the charity and part of
that review should involve
identifying which fixed assets are
restricted, unrestricted or
endowment funds.		 Work In Progress
Review of Trustee Report
including consistency of
financial information with the
Charity Accounts		 No issues arising
Review of minutes and other
documentation		 No issues arising
Review of bank reconciliations No issues arising

Page 7 of 8

Silvester Horne Institute Charity Accounts 2023/24 Independent Examination

Test Area Findings Action Management
Response /Follow Up
Review of all detailed income
and expenditure categories.		 There is inconsistency between the
classification of items in income and
expenditure categories between
financial years.		 The council should determine a
consistent categorisation of items
in the respective account
headings to ensure consistent
comparison between financial
years, and where necessary using
a prior year adjustment for the
disclosure of comparatives to
ensure a like for like disclosure of
financial information.		 Implemented
Checking that books of
account have been properly
kept throughout the year.		 See above issues
Verify that opening balances
are brought forward correctly		 No issues arising
Review of fixed asset register The fixed asset register includes an
inventory total of £25026 for
‘Contents of SHI’ but the inventory to
support this information was not
provided.
Also see outstanding issues from
2018/19.		 The trustee should identify the
inventory that supports the
£25026 entry in the fixed asset
register and carry out a review to
ensure the inventory is up to date
for all equipment capital
additions and disposals for this
fixed asset category.		 20/21 follow up -
Recommendation
Outstanding
2021/22 follow up – a
review and inventory
of fixed assets has now
been carried out.

Page 8 of 8