THE SHALOM TRUST Trustees Report FOR THE YEAR ENDED 5APRIL 2024 Objects of the Charlty The Trust's objects are to benefit one or more charitable institutions or for such charitable purposes as the Trustees in their absolute discretion from time to lime think fit with preference lo Religous Organisations, Poverty Relief, Child Welfare Charities. Natural Disaster Appeals and Chanties for the Blind. Appeals local to the Somerset region are given priority. Revlew of Activitles The Trustees decide annually on which institutions to donate lo from appeals recived that match the Charity's objectives. There were donations totalling £16,000 made during the year ended 51h April 2024 as shown in the Financial Statements. All derisions are made by the Trustees and recorded by Trustee Resolution. Trustees The Trustees who served during the year were.. Burges Salmon Trustee5 Ltd (Tom Hewitt as a of Director of Burges Salmon Trustees Ltd), Reverend Timothy Charles Naime Scott and Reverend Linda Anne Scott who was appointed a Trustee in September 2021. The Trustees are entitled to hold office for life. The Trustees are appointed or rets-red by a Deed of Appointment & Retirement Reverend Scott has held his position since the creation of the Trust in May 1989. Burges Salmon Trustees Ltd were appointed in 2012. Revlew of Flnanclal Posltlon The Trustees, in following advice from their investment managers Cazenove, altered their investment approach in September 2021. This involved reinvesting in in Cazenove's Responsible Mulli-Asset Fund IRMAF) which is designed specifically for charities. The fund has a responsible investment policy, with investment screening aligned with common charity concerns, ESG analysis, engagement and voting all embedded in the investment process. Vvhilst it is sometimes Ihe case that a portfolio with this kind of investment philosophy may perform less well than those without, the Trustees and Investment Managers regularly review the perfomiance and are satisfied that the approach will deliver a proper return for the Charity if invested for the medium to longer term. Rlsk Factors The major risks to which the Charity may be exposed. as identified by the Trustees. have been reviewed and systems are in place to mitigate those risks. The Trustee5 have prepared a Risk Policy to be reviewed annually. Related Partleg The Settlor of the Shalom Trust, Mr CHN Scott. was married to Mrs MA Scott- the Settor of the Mrs MA Scott Settlement. Mrs MA Scott died in June 2000 and on the death of Mr Scott in January 2005, the Trustees resolved to add the funds from Ihe Mrs MA Scott Settlement to the Shalom Trust as the charitable obieclives were identical. The year ended 5th April 2006 was the first full year of amalgamated funds. Reserves Pollcy The Trustees do not operate a reserves policy The charity is an unrestricted fund and the Trustees only make annual donations within the income arising each year. The Trustees do not distribute or transfer any of the capital. The value of the cash funds and investments was £915.560 as at 5th April 2024. Investment Powers Wide. See review of financial position above.
THE SHALOM TRUST Trustees Report FOR THE YEAR ENDED S APRIL 2024 (Continued} ststement of Trustees, Responslbllltles The Trustees are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of incoming resources and application of resources of the Trust for the year. In preparing these accounts, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts and., prepare the accounts on the going concem basis unless it is inappropriate to presume thal the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any lime the financial position of the Trust and enable them to ensure that the accounts comply with the CharitiesAcl 2011, the Charity (Accounts & Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for the safeguarding of the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Reverend Tlmothy Charles Nalrne Scott ..Trustee Reverend Llnda Anne Scot éfcw ..Trustee Dated.. Tom Hewltt as a of Dlrector of Burges Salmon Trustees Ltd ..Trustee Daled:
BurgesA Salmon TRUSTEES OF THE SHALOM TRUST ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 ClassifKalion.' Confidential
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THE SHALOM TRUST
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|Legal and Administrative Information|1|.|||
|Trustees’ Report|2-3|
|Receipts and Payments|4|
|Statement ofAssets and Liabilities|5|
|Notes|to|the Accounts|6-7|
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LEGAL AND ADMINISTRATIVE INFORMATION
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Date of Trust
23rd May 1989
Settlor Mr Charles Hugh Nairne Scott
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Trustees
Trustees Reverend Timothy Charles Nairne Scott Reverend Linda Anne Scott Burges Salmon Trustees Ltd (Tom Hewitt as Director of Burges Salmon Trustees Ltd) Charity Number 328222 Principal Office One Glass Wharf Bristol
Investment Managers
Cazenove Capital Management Ltd 12 Moorgate London
The above summary is intended as an aide-memoire and reference should be made to the Trust Deed before making decisions.
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| THE SHALOM TRUST | ___ Trustees Report 1 Objects of the Charity | The Trust's objects are to benefit one one or more more charitable institutions or for for such charitable purposes as the the Lt Trustees in their absolute discretion from time to time think fit with with preference to Religous Organisations, a Poverty Relief, Child Welfare Charities, Natural Disaster Appeals Appeals and Charities for the the Blind. Appeals Appeals local the Somerset region are given priority. | Review of Activities a The Trustees Trustees decide annually on which on which which institutions to donate to from from appeals recived that match match the Charity's | objectives. There were were donations totalling £16,000 made during the year ended ended 5th April April 2024 as shown in | the Financial Statements. All decisions are made by the Trustees the Trustees Trustees and recorded by Trustee Trustee Resolution. : Trustees | The Trustees who served during the year were: Burges Salmon Trustees Ltd (Tom Hewitt as a of Director of i Burges Salmon Trustees Ltd), Reverend Timothy Charles Nairne Scott and Reverend Linda Anne Scott who | was appointed a Trustee in September 2021.
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| Settlement. Mrs resolved to add | were identical. : Reserves Policy
| annual donations | capital. The value of the _ Investment Powers | Wide. See review of financial
The Trust's objects are to benefit one one or more more charitable institutions or for for such charitable purposes as the the Trustees in their absolute discretion from time to time think fit with with preference to Religous Organisations, Poverty Relief, Child Welfare Charities, Natural Disaster Appeals Appeals and Charities for the the Blind. Appeals Appeals local to the Somerset region are given priority.
The Trustees Trustees decide annually on which on which which institutions to donate to from from appeals recived that match match the Charity's objectives. There were were donations totalling £16,000 made during the year ended ended 5th April April 2024 as shown in the Financial Statements. All decisions are made by the Trustees the Trustees Trustees and recorded by Trustee Trustee Resolution.
L The Trustees are entitled to hold office for life. The Trustees are appointed or retired by a Deed of i Appointment & Retirement. Reverend Scott has held his position since the creation of the Trust in May 1989. | Burges Salmon Trustees Ltd were appointed in 2012. | Review of Financial Position : TheapproachTrustees,in Septemberin following2021.adviceThisfrominvolvedtheir investmentreinvesting managersin in Cazenove'sCazenove,Responsiblealtered theirMulti-AssetinvestmentFund (RMAF) which is designed specifically for charities. The fund has a responsible investment policy, with ' a investment screening aligned with common charity concerns, ESG analysis, engagement and voting alli | embedded in the investment process. Whilst it is sometimes the case that a portfolio with this kind of a investmentregularly review philosophythe performance may performandless wellare satisfied than thosethat the without,approachthe Trusteeswill deliver anda properInvestmentreturn Managersfor the Charity , if invested for the medium to longer term. : Risk Factors | The major risks to which the Charity may be exposed, as identified by the Trustees, have been reviewed and a systems are in place to mitigate those risks. The Trustees have prepared a Risk Policy to be reviewed annually. | Related Parties
The Settlor of the Shalom Trust, Mr CHN Scott, was married to Mrs MA Scott- the Settor of the Mrs MA Scott Settlement. Mrs MA Scott died in June 2000 and on the death of Mr Scott in January 2005, the Trustees resolved to add the funds from the Mrs MA Scott Settlement to the Shalom Trust as the charitable objectives were identical. The year ended 5th April 2006 was the first full year of amalgamated funds.
: /The Trustees do not operate a reserves policy. The charity is an unrestricted fund and the Trustees only make | annual donations within the income arising each year. The Trustees do not distribute or transfer any of the | capital. The value of the cash funds and investments was £915,560 as at 5th April 2024.
Wide. See review of financial position above.
| ___ Trustees Report | FOR THE YEAR ENDED 5 APRIL 2024
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Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of incoming resources and application of resources of the Trust for the year. In preparing these accounts, the Trustees are required to: - select suitable accounting policies and then apply them consistently; ;
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observe the methods and principles in the Charities SORP;:
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts and;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts & Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for the safeguarding of the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Reverend Timothy Charles Nairne Scott
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Reverend Linda Anne Scot
tN he »....... Trustee
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Reverend Linda Anne Scot
Dated:
Tom Hewitt as a of Director of Burges Salmon Trustees Ltd
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— GED tetas
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Dated:
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|Unrestricted|funds|Total|funds|Last|year|(2023)|
|tothe|nearest|£|to|the|nearest|£|to|the|nearest|£|
|Receipts|
|8908|
|}|—|[vesimentincome|||34,903|32,476|
|Asset|and|investment|sales|
|Sale|of investments|(proceeds)|PCY|
|abroad|TTTC*|
|Payments|
|JustCancer Love Research UK|UK|p0070,000|000f||i|
|Children|With|Cancer|PY|80007|
|Waltham|Forest|Night|Branches|ES|
|SchrodersBurges|Salmonchargescharges|<28,100|<2SE|0|EECc7,7402|
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|:|Asset|and|investment|purchases|
|Purchase|of|investments|(cost)|a|
|a|OO|
|Subtotal}ld|
|Total|payments.|
|eee]mea]|Ee]|
|Net of receipts(payments)||
|Cash|funds|last|year|end|5|
|/|Cash|funds|this yearend)|OTT88|
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| Section BStatement ofassetsand liabilities attheend ofthe period | Section BStatement ofassetsand liabilities attheend ofthe period | : | |
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| Categories | Unrestricted Details funds |
LastYear(2023) | |
| to nearest £ | to nearest £ | ||
| Totalcash funds | _62.511) | 54,140 | |
| Cost Details Cazenove Charity Responsible - multi 835,366 asset fund - 1,394,033.09 |
Marketvalueasat 5/4/2024 771,876 |
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| Investmentassets -Shroders | Ethical Property Co 14,600 17,683 |
7,300 | |
| 853,049 | 779,176 | ||
| Details Amount due When due [BurgesSamontP_———~S~dSSC~<“C~~C~C«S 05 April2024 Habits [oni 2ies rcouns |
680] [0sapi2028 2,772 |
[31 January 2025 Signature Dateofapproval Signed by of all the trustees a Oo TomHewittasaDirectorofBurges UfZ 4 |
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| THE SHALOM TRUST | NOTES TO THE ACCOUNTS
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1 Accounting Policies 1.1. Basis of Preparation
The Trustees report and financial statements have been prepared under historical cost convention with the exception that investments are included at mid market values. The Trustees report and financial statements have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, effective ist January 2019, the Charities (Accounts and Reports) Regulations 2008 and the Charities Act 2011.
1.2. Incoming Resources
Income is acounted for in the period in which it is receivable.
1.3. Resources Expended
Donations are charged in the period in which the donee is notified of the donation.
Management and administration costs are charged in the period to which they relate. The costs of generating the funds consist of investment management fees and legal fees and are analysed under
1.4 Investments
The quoted investments are included at the closing mid market value as at 5th April each year in Note 5 to the accounts, in additon to inclusion of the cost value of investments being shown in Section B of the Receipts and Payments accounts.
1.5 Funds Structure
Funds held by the Charity are unrestricted general funds and can be used in accordance with the charitable objects at the Trustees discretion.
2 Investment Income
| Investment IncomeIncome | ||
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| UK interest | 2,585.14 | |
| UK UnitTrusts: | 32,317.87 | |
| Total: | £34,903.01 | |
| Total Resources Expended | ||
| Investment Managers Fees | 2,431.50 | |
| Grants Payable | 16,000.00 | |
| Administrative Costs | 8,100.00 | |
| Total: | 26,531.50 |
- 3 Total Resources Expended
26,531.50
4 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year, other than fees paid to Burges Salmon LLP of £8,100.
| THE SHALOM TRUST
| NOTES TO THE ACCOUNTS | FOR THE YEAR ENDED 5 APRIL 2024
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(Continued)
§ Fixed Asset Investments
Market Value as at 5th April 2024 (excluding cash deposits): £779,176.00
Cost value as at 5th April 2024:
£853,049.00
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Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees The Shalom Trust On accounts for the year 5 April 2024 Charity no 328222 ended (if any) Set out on pages 4 - 7
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 5 April 2024.
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Date: 10 February 2025 Name: Rachel Wills Relevant professional FCA qualification(s) or body (if any): Address: Old Mill Accountancy Limited, Unit 2, Greenways Business Park Bellinger Close, Chippenham, Wiltshire SN15 1BN
1
Oct 2018
IER
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
None to note.
2
Oct 2018
IER