# **ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **SPRINGWOOD TRUST**
**CHARITY REGISTRATION No: 281558**
Independent Examiners Ltd Unit 2, Broadbridge Business Centre Delling Lane Bosham West Sussex
PO18 8NF
1
## **SPRINGWOOD TRUST**
## **CONTENTS**
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Page 3 Legal and Administrative Information
Pages 4 to 5 Report of the Trustees
Page 6 Independent Examiner's Report to the Trustees
Page 7 Statement of Receipts and Payments
Page 8 Statement of Assets and Liabilities
Pages 9 to 10 Notes to the Accounts
**----- End of picture text -----**
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## **SPRINGWOOD TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **CHARITY NUMBER**
**CHARITY NUMBER** 281558 **START OF FINANCIAL YEAR** 1st January 2022 **END OF FINANCIAL YEAR** 31st December 2022 **TRUSTEES AT 31ST DECEMBER 2022** Mark Loran Laurence Batten Brenda 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**
Lomax Pavey Unit 2, The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
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## **SPRINGWOOD TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **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 2022. Following the removal of Covid-19 restrictions, the church continued 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 throughout 2022 in local premises. The promotion of the Christian faith through worship and teaching is provided. Relaxation of the Covid-19 restrictions allowed some social events to be provided in homes and gardens as a means of increasing the profile of the church.
The church is financially supporting a project to provide resources, advice and friendship to sex workers in central Cardiff during evenings. The Red Community project (formerly known as Caru Am Byth) 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.
Financial and teaching support has continued for School of Ministries as part of the Trust’s long-standing support for church work in Africa. This has particularly focussed on Ghana and West Africa and members of the church have again travelled to contribute in the teaching projects and maintain relationships. Members of Capital Church have in the past also visited Kenya and seen first-hand the orphanage for which funding was raised.
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 were met at practical, financial and spiritual levels, and a baptismal service was arranged as a consequence at a church with links to Capital Church.
The church and its trustees have re-emphasised its commitment to the importance of safeguarding at all types of meetings and events. A safeguarding policy is now held by ThirtyOne Eight, and a safeguarding lead and deputy appointed and trained.
## **Financial Review**
In reviewing the financial position of the Trust at the end of the accounting period, the trustees have noted a decrease in funds of over £3000. Despite this, the trustees believe that the funding reserves will allow the activities of the Trust to continue for the foreseeable future. The major financial change during the year was the significant new investment option which was identified and actioned by the trustees in the wake of the decision by Julian Hodge to discontinue Charity investment accounts. The Charity Bank now holds a large part of the financial assets, which addresses the protection limit of the FSCS for a single institution. Regular payments of employee salary, hire of premises, insurance, equipment renewal, safeguarding registration, and mission support continued as usual.
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## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
My report to the trustees and members of Springwood Trust on the accounts for the year ended 31st December 2022 set out on pages 7 to 10.
## **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:
- examine the accounts under section 145 of the Charities Act,
- 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
- 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
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 Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
…………………………………………………… Lomax Pavey Independent Examiners Ltd Unit 2, The Broadbridge Business Centre Delling Lane
Bosham
West Sussex
PO18 8NF
3rd October 2023
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## **SPRINGWOOD TRUST**
## **STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**Notes**
**RECIPTS**
Donations & Legacies
**2a**
Investment Income
**2b**
**TOTAL RECEIPTS**
**PAYMENTS :**
Costs of Charitable Activities
**3a**
**TOTAL PAYMENTS**
**NET RECIPTS/PAYMENTS RESOURCES**
Cash funds last year end
**CASH FUNDS THIS YEAR END**|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2022**
**2021**
£
£
£
£
27,166
-
27,166
26,831
240
-
240
1,008|
|---|---|
||**27,406**
**-**
**27,406**
**27,839**|
||30,716
-
30,716
30,488|
||**30,716**
**-**
**30,716**
**30,488**|
|||
||**(3,310)**
**-**
**(3,310)**
**(2,650)**
173,458
-
173,458
176,108|
||**170,148**
**-**
**170,148**
**173,458**|
The notes on pages 9 to 10 form part of these accounts.
All operations are classed as continuing operations.
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##
##
|||Unrestricted|Restricted|Tnt*|?ctel|
|---|---|---|---|---|---|
|*sSEn$|Hobe|Funds|Funds|SI-Sac-2t|SS-DSG-21|
|||f|f|ff,||
|CrfhFundu:||||||
|Cashat Bank andinHand||170,149||1?0,149|173,458|
|||t?c,t*g||tr?c,t*g|1?$,4SS|
|Reprentedbp||||||
|General Fund||17S,149||170,149|173,45S|
|RestrictedFunds||||||
|||trs,t*g||trs,ffa|rr¤sse|
|LIABITITIES||||||
|lndepend ent fxaminersFee||690||s?o|690|
|||690||690|6to|
##
## **SPRINGWOOD TRUST**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **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**
Donations & Tithes
Gifts
Gift Aid
Gift Aid Tax Back
**b) Investment Income**
Interest
**3. PAYMENTS**
Note
**a) Costs of Charitable Activities**
Meetings and Events
Insurance
Governance
Independent Examiners Fee
Office Costs
Wages & Salaries
**6**
Mission|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2022**
**2021**
£
£
£
£
18,065
-
18,065
13,172
4,260
-
4,260
6,060
200
-
200
2,921
4,641
-
4,641
4,678|
|---|---|
||**27,166**
**-**
**27,166**
**26,831**|
||240
-
240
1,008|
||**240**
**-**
**240**
**1,008**|
||Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2022**
**2021**
600
-
600
309
615
-
615
676
280
-
280
32
690
-
690
660
-
-
-
70
27,332
-
27,332
26,741
1,200
-
1,200
2,000|
||**30,716**
**-**
**30,716**
**30,488**|
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## **SPRINGWOOD TRUST**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **4. RESTRICTED FUNDS**
The charity held no restricted funds during this financial year.
## **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|Unrestricted
Restricted
Fund
Fund
**£**
**£**
160,126
-
10,022
-
-
-
-
-|**Total**
**Total**
**31-Dec-22**
**30-Dec-21**
**£**
**£**
160,126
76,200
10,022
10,000
-
85,052
-
2,206|
|---|---|---|
||**170,148**
**-**|**170,148**
**173,458**|
||**2022**
**£**
25,248
2,084
**27,332**|**2021**
**£**
24,805
1,936
**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. (2021:None)
## **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. (2021:None)
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