## **The Richards Education Charity** **Trustee’s Report and Financial Statements for the Year Ended 31 December 2024 Registered Charity Number 306787** ## **The Richards Educa�onal Charity, Silverton ANNUAL TRUSTEES’ REPORT for year Jan. 1[st] to Dec 31[st]** _**2024**_ **Approved by Trustees at meeting on 24** _**October 2025**_ **Usual Correspondent: - Dr J.M. Thomas** 5, Tuns Lane, Silverton, Exeter, EX5 4HY **Charity Commission Scheme as revised January 16[th] 1990** **LIST OF TRUSTEES serving during** _**2024 & up to 24 October 2025**_ |NAME|APPT|ENDS|Name|APPT|ENDS| |---|---|---|---|---|---| |The Rev`d Prebendary|Co-opted|04/2029|Dr John Michael Thomas|Co-opted|03/2028| |Alan Hendry MacDonald|||(TREASURER)||| |CHAIRMAN|||||| |Miss Olivia Kennard|S. P.C.|05/2027|Mr Richard John White|Co-opted|12/2025| ||||(Retired Jan 27 2025)||| |Mrs Louise Sleep|S. P. C|09/2026|Mrs Sarah Self|D.C.C|10/2029| |Mrs Joan Elizabeth Park|Co-opted|01/2026|Mr Jonathan Ayshford|D.C.C.|07/2026| ||||(SECRETARY)||| |The Rev`d. Paul Kingdom|Ex Officio|-|Mrs Emily Chanter|S.P.C|06/2029| |(Retired April 30 2025)|||(Appointed June 14 2025)||| ## **Structure, Governance & Management** **Appointing Bodies of Trustees** - S. P.C.- Silverton Parish Council; D.C.C.- Devon County Council. The full body of Trustees approve new members for co-option. **Bankers-** Lloyds Bank, Exeter Branch, 234 High Street, Exeter, Devon, EX4 3NL **Solicitor-** Michelmores, Woodwater House, Pynes Hill, Exeter, EX2 5WR **Financial Advisor** Charles Stanley, Broadwalk House, Southernhay West, Exeter, EX1 1TS **Independent Examiner of Accounts** A C Mole LLP, Chartered Accountants, Stafford House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX ## **Objectives and Activities** ## **Application of Income - as specified in the Revised Scheme dated 16th January 1990:-** _“The Trustees shall first defray out of the income of the Charity the cost of maintaining the property of the Charity including the repair and insurance of any buildings thereon and all other charges and outgoings payable in respect thereof and all the proper costs, charges and expenses of and incidental to the administration and management of the Charity.”_ _“After this the Trustees shall apply the income of the Charity in promoting the education (including social and physical training) of persons under the age of 25 years who are resident in the Parish of Silverton and who are in need of financial assistance by such means as-_ _a) scholarships, exhibitions, bursaries, maintenance allowances or grants tenable at any school, university college of education or other institution of further education approved by the Trustees;_ _b) providing financial assistance, outfits, clothing, tools, instruments or books to assist their education (including music and other arts) to undertake educational travel, or to prepare for a profession, trade, occupation or service on leaving school university etc. The Trustees have full power to make rules for these awards including the value, period of tenure, qualifications, method of ascertainment and selection of candidates._ _The Trustees may consult with the local education authority over their general terms of action or on individual cases._ _The Trustees may appoint two or more members as a committee to act in emergencies, but all acts shall be reported in due course to the body of the Trustees._ _The Trustees may not apply income to the relief of rates, taxes or other public funds, but may supplement this relief or assistance. The Trustees may not create a tenancy of their lands lasting longer than 22 years.”_ Information about the Charity, still frequently known as the “Richards Trust”, is made known widely in the Parish, especially through the places of education of Silverton children. Application forms are available at the village Shop/Post Office, School, book swop, doctor’s surgery and online. Applications for groups such as Youth Organisations and the Primary School are related to a list of Silverton individuals in need of help, and funds are allocated to benefit these individuals. A quorate group of Trustees deal with applications which fall within the policy of the Trustees, but all others are discussed by all Trustee. Page 1 of 2 The Rlchards Educatlonal tharlty. Sllverton Thc TnL8t¢(s only hold rrfords WJ cornp￿ as are nece&sary for knowledge of previo￿8 grant history to mak¢ d¢¢isions on individual aN)li¥ali0Th8. This infornjation is kept confidcntial to thc TnLStCCS. A¢hleveme•ts & Performince Thc TnL￿e¢5 havc taken regard of the guidance on publil ￿nefi[ iSSULd by the Charity Comrnission: and this h&5 bccn Consid￿ed in arrivmg * th¢ distrIb￿lOn of grants to the benefit of thc young pcoplc of Silverton. On T￿e￿ing thc accounts of rcccni years. the reL￿￿idered the criieria for making grant5 and Teduccd the level of grnnts aW&Tded as aAYopngte. re￿IlIng in toul income Mar￿nallY morc than expendiwrc. Of thc Expcnditure. the lar8eM to￿1 sum was all(Kated w Students of ￿'Sh¢[ Education followed by Primary and S¢condary children being hLI￿*d with the fccs for out of school hours cla￿5 such as inslrumcntal music and sch￿1 resid¢niial visits. and then by students undcrtaking V(Kational Trainin8. Smaller total amounts went ¢0 children 4twMlin8 Further Educati￿ Pre4chool and After-school classes and to (iroups. Granu n￿de in 2024 l J io Univer3io' sthdents 1£13. 250).. 55 to &hool age children (£12.870).. 9for Yth71ional Training 1£5.0 72).. J io Preschool and After3choolfe¢s (£82) ald J io Further Educaiion (£200). 2 10 Groups f£1288). roial Awarded £JJ.JO& The total nurnbcr of appkncatsons rtreived and awarthd was slighdy lower than that of the prc%ious ycar. Flnanciil Revlew The cljan'ty is Ikp¢ndcn¢ on income fnxn ils P¢rnlInvestment Income
Miscellaneous
Insurance re wall damage
Proceeds from sale of Investments
Total Receipts
**PAYMENTS**
Grants
Management and Administration
Independent Examiners Fees
Administrative expenses
Insurance
Repairs to wall
Investments Purchased
Investment Managers Fees
Total Payments
_Excess Receipts over Payments_
_Excess Payments over Receipts_
**Monetary Balances**
As at 1st January
As at 31st December|2024
2024
2024
£
£
£
Unrestricted
Endowment
Total
Funds
Funds
Funds
40,489
71
40,560
141
141
1,725
1,725
42,355
71
42,426
0
131,140
131,140
42,355
131,211
173,566
33,368
33,368
1,080
1,080
0
0
337
337
3,508
3,508
38,293
38,293
0
149,537
149,537
0
11,527
11,527
38,293
161,064
199,357
4,062
4,062
-29,853
-29,853
38,756
53,401
92,157
42,818
23,548
66,366|2023
£
Total
Funds
38,730
81
38,811
210,243
249,054
45,597
960
560
0
0
47,117
173,045
11,230
231,392
26,189
-8,527
74,495
92,157| |---|---|---| ThE IUCILIRD5 EDUCATIONAL CHARITY Rry N￿ 306717 2024 2023 T•lal C*Alb 20.IMKI 1&749 i( Curr¢•l AcuNDI 2Ql72 16 20.172 23.548 23.548 23J48 53,401 92.157 41818 Invu¢m¢nl AM¢il 1291.194 l291.l94 1217.747 l irtle Re¢re￿10Th Field (e4iD¥t¢d Wal￿} T•￿1 AJ•rts 41118 IJIS.742 lJ3&500 iJio The Re¥elp￿ and PA)Th¢llts ..l¢coun¢ for the Finltml yar J l* Decenkn 21Y24. Ihe Swern￿l of and 31rt DrcaDbu 2024 K¢ by th¢ Tnwt ou b¢Wfof& Trn*