2022-10-31-accounts

The Silverwood Trust

Report and Accounts Year ended 31 October 2022

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

THE SILVERWOOD TRUST

LEGAL AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 OCTOBER 2022

ADDRESS FOR CORRESPONDENCE 54 Yeoman Lane Bearsted Maidstone ME14 4DG GOVERNING DOCUMENT Declaration of Trust dated 3rd June 1985 CHARITY REGISTRATION NUMBER 292372 TRUSTEES RESPONSIBLE FOR Martyn Travers MANAGING THE CHARITY Jonathan Wentzel Daniel Brown Philip Dyal Kaluba Sianga (appointed January 2023) Jean May Shergold - honorary (until May 2023) John Norman Shergold - honorary (until June 2023)

BANKERS

Barclays Bank UK PLC

INDEPENDENT EXAMINER

Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB

INDEX

Page 1 Legal and Administrative Details Pages 2-3 Trustees' Report Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Page 7 Notes to the Accounts

Page 1

THE SILVERWOOD TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 OCTOBER 2022

The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 October 2022.

Objects of the charity

The charity is governed by a trust deed which has three charitable objectives. These remain unchanged: to help Christian missionaries not supported by a missionary society, to support Christian missionaries in retirement or ill health, to help with education of children with special needs.

Summary of the charity's main activities and achievements

The Trustees are pleased to report that the activity of the Trust has been stable in the past year. The main focus of the charity’s grant making activity remains an outreach project in the township of Kawama, Kabwe in Zambia. Grants made support a community school of approximately 500 learners and an associated feeding project to 120 orphans and vulnerable children, providing a much-needed daily nutritious meal in term time. Through the Silverwood Trust's support, a nurse is employed at the complex to provide primary care services to the children and the associated staff. The project continues to be led by two visionary Zambian women, offering a beacon of hope in a poor and deprived community.

Two initiatives started in the previous year successfully continued this year; the provision of feminine hygiene products to girls at the school, and the running of a large fishpond for fish as a source of food at the feeding project. With the help of generous supporters, we were able continue to support these initiatives. Food inflation and cost of living crisis has posed an additional significant challenge this year to the feeding scheme. Two trustees had planned to visit Kawama during the year, but the visit had to be postponed due to health difficulties.

We also continue to make regular grants to a youth and children’s worker in Plovdiv, Bulgaria. She visited the founding trustees Mr & Mrs Shergold in August in the UK.

A twice-yearly newsletter was produced to keep our donors up to date. A Facebook page is regularly updated with photos and news.

In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

Financial review

We are a small grant making charity. Other than bank charges and Stewardship fees, all other activity is done on a voluntary / free basis. We hold no assets and have no staff. We aim to pay grants out each year that equate to our income in that year without running a deficit or surplus.

During the year income increased by £6,800, to £35,700, and expenditure increased by £6,600, to £36,700. As a result the cash held by the charity decreased by £1,000, to £75,500, of which all is unrestricted and can be used for any charitable purpose.

Reserves policy

The Trustees have determined that the charity should aim to hold an unrestricted cash reserve of approximately twice the total annual grants (approximately £30,000), so that the charity could continue to operate if funds were affected adversely. At the year end, the charity held unrestricted cash of £75,500 and the charity is complying with its reserves policy.

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Governance

The governance of the charity is with the Trustees who meet regularly in person and online to monitor the activities of the Trust. New Trustees are appointed by the Trustees.

Regular reports are received from Zambia and Bulgaria, receipts are sent and we are confident of the accountability of those in leadership.

The Trustees operate with due regard to the policies and guidelines of the Charity Commission. Proper accounting records are kept, recording all receipts and payments. We take the responsibility of safeguarding the assets of the charity carefully.

Responsibilities of trustees

Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.

We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

Approval

This report was approved by the trustees and signed on their behalf by:

Jonathan Wentzel

Date: 21 July 2023

Page 3

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

THE SILVERWOOD TRUST

I report to the trustees on my examination of the accounts of The Silverwood Trust ('the charity') for the year ended 31 October 2022 on pages 5 to 7 following.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or

1. the accounts do not accord with the accounting records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Jaimée Young

Stewardship 1 Lamb's Passage LONDON EC1Y 8AB

Date: 21 July 2023

Page 4

THE SILVERWOOD TRUST

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2022

Notes Income receipts Donations Gift aid receipts Interest Total receipts Payments 2 3 Total payments Transfers between funds 5 Net movement in funds Cash funds as at last year end Cash funds at this year end A Net of receipts / (payments) before transfers Grants paid in relation to charitable activities undertaken by others Payments in relation to charitable activities undertaken directly		General Designated Funds Funds £ £ 12,400 - - - 6 - 12,406 - 995 - 11,480 - 12,475 - (69) - (907) - (976) - 76,502 - 75,527 - Unrestricted Funds	Restricted Funds £ 22,033 1,250 - 23,282 - 24,189 24,189 (907) 907 - - -	Total 2022 £ 34,433 1,250 6 35,688 995 35,669 36,664 (976) - (976) 76,502 75,527	Total 2021 £
		General Funds £ 12,400 - 6 12,406 995 11,480 12,475 (69) (907) (976) 76,502 75,527
					27,312 1,541 44
					28,897
					990 29,050
					30,040
					(1,143) -
					(1,143) 77,645
					76,502

The notes on page 7 form part of these accounts.

Page 5

THE SILVERWOOD TRUST

STATEMENT OF ASSETS AND LIABILITIES

FOR THE YEAR ENDED 31 OCTOBER 2022

A Cash funds Main bank account Reserve bank account B Other monetary assets Gift aid due to charity C Liabilities Falling due within one year: Fee for Independent Examination Total	General Designated funds funds £ £ 15,476 - 60,051 - 75,527 - - - - - 540 - 540 - Unrestricted Funds	Restricted funds £ - - - 1,698 1,698 - -	Total 2022 £ 15,476 60,051 75,527 1,698 1,698 540 540	Total 2021 £
				16,458 60,045
				76,502
				1,250
				1,250
				600
				600

The accounts were approved by the trustees and signed on their behalf

by date Jonathan Wentzel 21 July 2023

The notes on page 7 form part of these accounts.

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THE SILVERWOOD TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

2 Payments in relation to charitable activities undertaken directly Bank charges and transfer fees Governance 3 Grants and gifts paid to others Organisations: Salvation & Healing Ministries, Zambia Individuals		Unrestrict	Designated funds £ - - - - - - ed Funds	Restricted Funds £ - - - 24,189 - 24,189	Total 2022 £ 425 570 995 25,989 9,680 35,669	Total 2021 £
		General funds £ 425 570 995 1,800 9,680 11,480
						400 590
						990
						19,410 9,640
						29,050

Transactions with related parties

There are no employees and no trustees received remuneration.

5 Movement of funds General funds Restricted funds S&H Ministries (Kawama Project, Zambia) Total funds	Opening balance £ 76,502 76,502 - - 76,502	Receipts £ 12,406 12,406 23,282 23,282 35,688	Payments £ (12,475) (12,475) (24,189) (24,189) (36,664)	Transfers £ (907) (907) 907 907 -	Closing balance £
					75,527
					75,527
					-
					-
					75,527

The restricted fund relates to donations given specifically for SHM (Salvation & Healing Ministries); the local Zambian organisation that runs Lufutuko School and Bana Besu Feeding Scheme.

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