ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
SPRINGWOOD TRUST
CHARITY REGISTRATION No: 281558
Independent Examiners Ltd Unit 2, Broadbridge Business Centre Delling Lane Bosham West Sussex
PO18 8NF
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SPRINGWOOD TRUST
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CONTENTS
Page 3 Legal and Administrative Information
Page 4 Independent Examiner's Report to the Trustees
Page 5 to 6 Trustees' Report
Page 7 Statement of Receipts and Payments
Page 8 Statement of Assets and Liabilities
Pages 9 to 11 Notes to the Accounts
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SPRINGWOOD TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 281558 START OF FINANCIAL YEAR 1st January 2021 END OF FINANCIAL YEAR 31st December 2021 TRUSTEES AT 31ST DECEMBER 2021 M Loran L Batten B C Lamb
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
GOVERNING INSTRUMENT Declaration of Trust Deed 1980
OBJECTS
The proclamation and furtherance of the Gospel; the preaching and teaching of the Christian Faith throughout the United Kingdom and elsewhere; support of other Christian bodies in such areas as children's' work, care for people, the relief of poverty, the advancement of the Christian Faith.
CORRESPONDENCE ADDRESS 101 Melrose Avenue Penylan Cardiff CF23 9AT PRIMARY BANKERS National Westminster Bank Plc 96 Queen's Street Cardiff CF10 2GR Julian Hodge Bank 10 Windsor Place Cardiff CF10 3BX INDEPENDENT EXAMINER Kim Gomes MAAT Unit 2, The Broadbridge Buinsess Centre Delling Lane Bosham West Sussex PO18 8NF
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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees and members of Springwood Trust on the accounts for the year ended 31st December 2021 set out on pages 7 to 11.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Kim Gomes MAAT Independent Examiners Ltd Unit 2, The Broadbridge Buinsess Centre Delling Lane Bosham West Sussex PO18 8NF
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SPRINGWOOD TRUST
TRUSTEES REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2021
Policies and Objectives
Springwood Trust exists to support Capital Church Cardiff in its work as a local Christian congregation. The funding also facilitates work with other churches within South Wales and worldwide.
When planning our activities, meetings and funding for projects for the year, the trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
Capital Church continued to provide open worship meetings in Llanedeyrn during 2021. During the first part of the year's restrictions resulting from Covid-19 meant that these were delivered online. Following the removal of restrictions, the church resumed its use of a local community hub premises. The church remains involved in the local communities through a variety of initiatives, and seeks to express its faith through the practical benefits of these initiatives, and to explain this faith where interest is shown.
The Trust has continued to be very generously supported in all its work, including in support of other churches. It continues to maintain a satisfactory position financially thanks to prudent investment of funds and careful assessment of proposed expenditure.
Review of Activities
Regular Sunday morning meetings have been available to the community in the latter part of 2021 in local premises, and through Zoom and Facebook prior to that during Covid restrictions. Through either means, the promotion of the Christian faith through worship and teaching is provided. When lockdown restrictions were eased, some social events were possible in gardens subject to remaining guidelines in force at the time.
The church is financially supporting a project to provide resources, advice and friendship to sex workers in central Cardiff during evenings. The Caru Am Byth project (formerly known as Liberty) incorporates members of several churches and works with co-operation from the police. Benefits include monitoring of health, information on potential trafficking, and exit strategies where requested for those involved.
The remaining part of the funding specifically allocated for Kenya was sent to School of Ministries as part of the Trust’s long-standing support for church work in Africa. These restricted funds have now all been used. Members of Capital Church have in the past visited Kenya and seen first-hand the orphanage for which funding has been raised. There has also been continued support for the work of School of Ministries, particularly in Ghana, and members of the church have travelled there in recent years to contribute in the teaching projects.
Closer to home, the church maintains a strong involvement in the governance of a local primary school, in a community where there are high levels of special needs in the children. Also, the needs of several individuals within the local community have been met at practical, financial and spiritual levels and an Alpha course was run online as a consequence.
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SPRINGWOOD TRUST
STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
| Notes INCOMING RESOURCES Donations & Legacies 2a Investment Income 2b TOTAL RECEIPTS PAYMENTS : Costs of Charitable Activities 3a Governance Costs 3b TOTAL PAYMENTS NET INCOMING/(OUTGOING) RESOURCES Balances Brought Forward Disposal of Land & Buildings 10 BALANCES CARRIED FORWARD |
Unrestricted Restricted Total Total Funds Funds 2021 2020 £ £ £ £ 26,831 - 26,831 26,443 1,008 - 1,008 1,001 |
|---|---|
| 27,839 - 27,839 27,444 |
|
| 29,365 431 29,796 29,860 692 - 692 |
|
| 30,057 431 30,488 29,860 |
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| (2,219) (431) (2,650) (2,416) 175,677 431 176,108 178,524 - - - - |
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| 173,458 - 173,458 176,108 |
The notes on pages 9 to 11 form part of these accounts.
All operations are classed as continuing operations.
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| ASSETS | Unrestricted | Restricted | Tatd | Totll | |
|---|---|---|---|---|---|
| Ho&rr | Funds | Funds | 31-Dec-213O'DcG-ZO | ||
| C.EshFunds | ffg€ | ||||
| Cashat Bank andinHand | 5 | 173,458 | 173,458 | 176,108 | |
| 178,458 | 1t3,458 | 176,10S | |||
| Reprwrtedbp | |||||
| GeneralFund | 173,458 | 173,458 | 175,677 | ||
| RestrictedFunds | 431 | ||||
| 173,458 | 17S,458 | I75,108 | |||
| LIABILITIES | |||||
| lndepend entExaminersFee | 6?0 | 690 | 660 | ||
| 690 | 590 | 660 |
SPRINGWOOD TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
1. BASIS OF ACCOUNTING
The accounts have been prepared under the “Receipts and Payments” basis as prescribed by the Charity Commissioners and meet the appropriate legal requirements.
| 2. RECEIPTS Note a) Donations & Legacies Gifts & Donations Gift Aid b) Investment Income Interest 3. PAYMENTS a) Costs of Charitable Activities Charitable Mission 4 Insurance Costs Meeting Costs Office Costs Wages & Salaries 6 Administrative Expenses b) Governance Costs Independent Examiners Fee Safeguarding Costs |
Unrestricted Restricted Total Total Funds Funds 2021 2020 £ £ £ £ 22,153 - 22,153 22,182 4,678 - 4,678 4,261 |
|---|---|
| 26,831 - 26,831 26,443 |
|
| 1,008 - 1,008 1,001 |
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| 1,008 - 1,008 1,001 |
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| 1,569 431 2,000 1,829 676 - 676 573 309 - 309 362 70 - 70 180 26,741 - 26,741 26,885 - - - 30 |
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| 29,365 431 29,796 29,859 |
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| 660 - 660 - 32 - 32 - |
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| 692 - 692 - |
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SPRINGWOOD TRUST
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
4. RESTRICTED FUNDS
| 4. RESTRICTED FUNDS | |
|---|---|
| Kenya Fund | Balance Balance 31-Dec-20 Income Expenditure Transfers 31-Dec-21 £ £ £ £ £ 431 - 431 - - |
| 431 - 431 - - |
The restricted funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
5. CASH AT BANK IN HAND
| NatWest Current NatWest Reserve Hodge Bank Deposit 1 Hodge Bank Deposit 2 6. STAFF COSTS Gross Wages and Salaries Employer's National Insurance Costs Pension Contributions |
Unrestricted Restricted Fund Fund £ £ 76,200 - 10,000 - 85,052 - 2,206 - |
Total Total 31-Dec-21 30-Dec-20 £ £ 76,200 89,863 10,000 - 85,052 84,039 2,206 2,206 |
|---|---|---|
| 173,458 - |
173,458 176,108 |
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| 2021 £ 24,805 1,936 - 26,741 |
2020 £ 26,741 - - 26,741 |
The Charity operate a PAYE scheme to pay all employed member of staff and no employees received emoluments in excess of £60,000. (2020:None)
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SPRINGWOOD TRUST
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
7. PAYMENTS TO TRUSTEES
No payments were made to trustees or anyone connected with them during the period. No material transaction took place between the charity and a trustee or any person connected with any of them. (2020:None)
8. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
9. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
10. PUBLIC BENEFIT
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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