**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:
- Community groups providing activities to residents.
- SHI events group to arrange performances and entertainment.
- Local theatre groups to provide public entertainment
- Church Stretton Council for meetings.
- Private hire to residents
## **1.3 Statement on Public Benefit**
The public benefits are:
- (a) the provision of increased opportunities to engage in new activities that bring people together, leading to greater social cohesion and fulfilment;
- (b) an enhanced quality of life and sense of well-being through engagement with and participation in activities and events that bring people together, leading to improvements in physical and emotional well-being, quality of life and a more stable and cohesive community;
- (c) enhanced active citizenship and involvement in community life.
## **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:
- Reduce social isolation
- Improve knowledge and share expertise
- Improve mental well being
- Improve physical well being
1
The institute is a valued local historical building.
## **2.1**
## **Events**
The SHI Events group staged the following events during the year.
- Ranagri
- Little Rumba
- The 309s
- Budapest Café Orchestra
- Shrewsbury Concert Band
- Graffiti Classics
- Tango Collar
- Redmadog
- Carnival Band
- Harp and a Monkey
- Polka Dots
- Tannahill Weavers
- Shrewsbury Concert Band
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**
- a. There were no loans outstanding to the Charity
- b. These was one tenancy in operation in respect of Institute Cottage
- c. There were no leases in operation
- d. There were no creditors
- e. There were no amounts paid to the charity in advance
- f. There are no funds in deficit
- g. There are no identified uncertainties in the future of the charity.
## **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:
- Review of the receipts and payments accounts and all disclosure notes including sample checks
- Review of Trustee Report including consistency of financial information with the Charity Accounts
- Review of bank reconciliations including substantive testing of year end bank reconciliation
- Analytical review income and expenditure categories by comparison with the prior year
- Checking that books of account have been properly kept throughout the year
- Selective testing of transactions to source documents
- Verify that opening balances are brought forward correctly
- Review of fixed asset register
## **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