Burges 2 Salmon
TRUSTEES OF THE SHALOM TRUST
ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025
THE SHALOM TRUST
CONTENTS
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|Legal|and Administrative|Information|1|
|Trustees’|Report|2-3|
|Receipts|and|Payments|4|
|Statement|of Assets|and|Liabilities|5|
|Notes|to|the Accounts|6-7|
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THE SHALOM TRUST
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LEGAL AND ADMINISTRATIVE INFORMATION
Date of Trust 23rd May 1989
Settlor Mr Charles Hugh Nairne Scott
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 BS2 0ZX
Investment Managers Cazenove Capital Management Ltd 12 Moorgate London EC2R 6DA
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 FOR THE YEAR ENDED 5 APRIL 2025
Objects of the Charity
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 time think fit with preference to Religous Organisations, Poverty Relief, Child Welfare Charities, Natural Disaster Appeals and Charities for the Blind. Appeals local to the Somerset region are given priority.
Review of Activities
The Trustees decide annually on which institutions to donate to from appeals recived that match the Charity's objectives. There were donations totalling £20,000 made during the year ended 5th April 2025 as shown in the Financial Statements. All decisions are made by the Trustees and recorded by Trustee Resolution.
Trustees
The Trustees who served during the year were: Burges Salmon Trustees Ltd (Tom Hewitt as a of Director of Burges Salmon Trustees Ltd), Reverend Timothy Charles Nairne 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 retired 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.
Review of Financial Position
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 Multi-Asset Fund (RMAF) 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. Whilst it is sometimes the 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 performance and are satisfied that the approach will deliver a proper return for 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 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.
Reserves Policy
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 £913,811 as at Sth April 2025.
Investment Powers
Wide. See review of financial position above.
-2-
THE SHALOM TRUST
Trustees Report FOR THE YEAR ENDED 5 APRIL 2025
(Continued)
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;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state 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 concern basis unless it is inappropriate to presume that the charity will continue in operation.
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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el
sy TUSHEL
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Reverend Linda Anne Scott
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.aa
ESA
Dated:
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Tom Hewitt as a of Director of Burges Salmon Trustees Ltd
raat pated: WY Dccembe’ LOLS
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Charity Name:
i | The Shalom Trust
CHARITY COMMISSION Receipts and payments accounts
FOR 06/04/2024 -
ENGLAND AND WALES Fortept tom 05/04/2025
section A Receipts and payments
Unrestricted funds Total funds Last year (2024)
tothe nearest £ to the nearest £ to the nearest £
receipts
investment income 34,903
ub total (Gross Income Tor AR 34,903
Asset and investment sales
Sse of investments (proceeds)
ub Totaa| ee
Paymenis
Kfancer Research UK — SS So |
fimani UK ee
Bi Wifred’s Hospice Chichester |) TS TCC
Gust [Love] [London] [UK] SS)10,000 |TT
International Justice Mission ee
{Schroders charges |) Se2.586] [|——aaa2
[charges] 9,300 9,300 8,100
[Burges [Salmon] |
Old Mill charges pa PO
Sub totaleep Oe|
Asset and investment purchases
Purchase ofinvestments (cost) |
| a ||See ee
Subtotal] _-|_~-|
Total payments fi. C8]
Cash funds last yearNetCash end of receipts(payments)[-funds this yearend?DsGYit SSSSC«|
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Page 4
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section B Statement of assets and liabilities at the end of the period
ilegorins Unrestricted funds Last Year (2024)
to nearest £ to nearest £
feurgessammonttR [|
Total cash funds|____62,260] |-—s2.8t1|
other Assets
Accrued interest at Schroders 8105 0
Total accrued interest 8105 0
; Cost Market value as at
Delails 5/4/202:
Cazenove Charity Responsible - multi 833,868 726,380
asset fund - 1,391,533.09
851,551 731,664
Details Amount due When due
[Burges SammontiP SCT [SSSSSCSCSC«AMO]] [«05]
Liabilities 2772] [34 JanuaryApril 20262028
Signature Date of approval
Signed by of all the trustees _ariee ee enaee |b|p eee}(ee
Trustees Ltd LPO) i he Lous
Reverend Timothy Scottasd [nc
Reverend Linda Scott // . iePn iByu |Lei
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Page 5
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THE SHALOM TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025
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 1st 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 Note 3.
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 vaiue 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
| 2025 | ||
|---|---|---|
| UK interest | 3,219 | |
| UK Unit Trusts: | 32,451 | |
| Total: | 35,670 | |
| Total Resources Expended | ||
| Investment Managers Fees | 2,586 | |
| Grants Payable | 20,000 | |
| Administrative Costs | 14,712 | |
| Total: | 37,298 |
- 3 Total Resources Expended
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 £9,300.
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THE SHALOM TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED5 APRIL 2025
(Continued)
5 Fixed Asset Investments Market Value as at 5th April 2025 (excluding cash deposits): 731,664 Cost value as at 5th April 2025: 851,551
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Burges 2 Salmon
TRUSTEES OF THE SHALOM TRUST
ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025
THE SHALOM TRUST
CONTENTS
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----- Start of picture text -----
||||||
|---|---|---|---|---|
|Page|
|Legal|and Administrative|Information|1|
|Trustees’|Report|2-3|
|Receipts|and|Payments|4|
|Statement|of Assets|and|Liabilities|5|
|Notes|to|the Accounts|6-7|
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THE SHALOM TRUST
| |
LEGAL AND ADMINISTRATIVE INFORMATION
Date of Trust 23rd May 1989
Settlor Mr Charles Hugh Nairne Scott
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 BS2 0ZX
Investment Managers Cazenove Capital Management Ltd 12 Moorgate London EC2R 6DA
The above summary is intended as an aide-memoire and reference should be made to the Trust Deed before making decisions.
| |
-1-
THE SHALOM TRUST Trustees Report FOR THE YEAR ENDED 5 APRIL 2025
Objects of the Charity
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 time think fit with preference to Religous Organisations, Poverty Relief, Child Welfare Charities, Natural Disaster Appeals and Charities for the Blind. Appeals local to the Somerset region are given priority.
Review of Activities
The Trustees decide annually on which institutions to donate to from appeals recived that match the Charity's objectives. There were donations totalling £20,000 made during the year ended 5th April 2025 as shown in the Financial Statements. All decisions are made by the Trustees and recorded by Trustee Resolution.
Trustees
The Trustees who served during the year were: Burges Salmon Trustees Ltd (Tom Hewitt as a of Director of Burges Salmon Trustees Ltd), Reverend Timothy Charles Nairne 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 retired 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.
Review of Financial Position
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 Multi-Asset Fund (RMAF) 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. Whilst it is sometimes the 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 performance and are satisfied that the approach will deliver a proper return for 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 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.
Reserves Policy
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 £913,811 as at Sth April 2025.
Investment Powers
Wide. See review of financial position above.
-2-
THE SHALOM TRUST
Trustees Report FOR THE YEAR ENDED 5 APRIL 2025
(Continued)
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;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state 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 concern basis unless it is inappropriate to presume that the charity will continue in operation.
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
==> picture [202 x 30] intentionally omitted <==
----- Start of picture text -----
el
sy TUSHEL
----- End of picture text -----
Reverend Linda Anne Scott
==> picture [202 x 55] intentionally omitted <==
----- Start of picture text -----
.aa
ESA
Dated:
----- End of picture text -----
Tom Hewitt as a of Director of Burges Salmon Trustees Ltd
raat pated: WY Dccembe’ LOLS
-3-
|
| )
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----- Start of picture text -----
Charity Name:
i | The Shalom Trust
CHARITY COMMISSION Receipts and payments accounts
FOR 06/04/2024 -
ENGLAND AND WALES Fortept tom 05/04/2025
section A Receipts and payments
Unrestricted funds Total funds Last year (2024)
tothe nearest £ to the nearest £ to the nearest £
receipts
investment income 34,903
ub total (Gross Income Tor AR 34,903
Asset and investment sales
Sse of investments (proceeds)
ub Totaa| ee
Paymenis
Kfancer Research UK — SS So |
fimani UK ee
Bi Wifred’s Hospice Chichester |) TS TCC
Gust [Love] [London] [UK] SS)10,000 |TT
International Justice Mission ee
{Schroders charges |) Se2.586] [|——aaa2
[charges] 9,300 9,300 8,100
[Burges [Salmon] |
Old Mill charges pa PO
Sub totaleep Oe|
Asset and investment purchases
Purchase ofinvestments (cost) |
| a ||See ee
Subtotal] _-|_~-|
Total payments fi. C8]
Cash funds last yearNetCash end of receipts(payments)[-funds this yearend?DsGYit SSSSC«|
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Page 4
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section B Statement of assets and liabilities at the end of the period
ilegorins Unrestricted funds Last Year (2024)
to nearest £ to nearest £
feurgessammonttR [|
Total cash funds|____62,260] |-—s2.8t1|
other Assets
Accrued interest at Schroders 8105 0
Total accrued interest 8105 0
; Cost Market value as at
Delails 5/4/202:
Cazenove Charity Responsible - multi 833,868 726,380
asset fund - 1,391,533.09
851,551 731,664
Details Amount due When due
[Burges SammontiP SCT [SSSSSCSCSC«AMO]] [«05]
Liabilities 2772] [34 JanuaryApril 20262028
Signature Date of approval
Signed by of all the trustees _ariee ee enaee |b|p eee}(ee
Trustees Ltd LPO) i he Lous
Reverend Timothy Scottasd [nc
Reverend Linda Scott // . iePn iByu |Lei
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Page 5
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THE SHALOM TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025
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 1st 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 Note 3.
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 vaiue 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
| 2025 | ||
|---|---|---|
| UK interest | 3,219 | |
| UK Unit Trusts: | 32,451 | |
| Total: | 35,670 | |
| Total Resources Expended | ||
| Investment Managers Fees | 2,586 | |
| Grants Payable | 20,000 | |
| Administrative Costs | 14,712 | |
| Total: | 37,298 |
- 3 Total Resources Expended
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 £9,300.
|
|
|
THE SHALOM TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED5 APRIL 2025
(Continued)
5 Fixed Asset Investments Market Value as at 5th April 2025 (excluding cash deposits): 731,664 Cost value as at 5th April 2025: 851,551
-7-
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 2025 | 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 2025.
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 (other than that disclosed below *) which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
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: 9/1/26 Name: Rachel Wills Relevant professional FCA qualification(s) or body: Address: Old Mill Accountancy Limited, Unit 2, Greenways Business Park Bellinger Close, Chippenham, Wiltshire SN15 1BN
Oct 2018
IER
1
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 None to note any items that the examiner wishes to disclose .
Oct 2018
IER
2