STRATFORD-UPON-AVON
TOWN TRUST
Annual Report and Accounts 2024
Stratford
Town Trust
creating a vibrant and
connected community
Registered Charity No. 1088521
Registered Company No. 04222949
(A Company Llmitsd by Guarantee)

STRATFoR[￿UP0N4v0N TOWN TRUST
CONTENTS
Joint Message from our Chair of the Board and Chief Executive
Report of the Trustees
3-19
Officers, Advisors, charty details
Independent Audltor's Report
21- 23
Financlal Statements
24-26
Notes to the Financial Statements
27-47
D•finitlon8
Stratford-uponthvon Town Trust "Town Trust"
College Estate Endowment "College Estat•"
Guild Estate Endowment "Guild Estato"
The Board of Trustees "Board"

STRATFORD-UPON-AVON TOWN TRUST
JOINT MESSAGE FROM OUR CHAIR OF THE 80ARD AND CHIEF EXECUTIVE
For year ended 31 December 2024
This has been a year of steady consolidation for the Strafford-upon-Avon Town Trust (Town Trust) and our
Report and Accounts for 2024 show a year of pleasing growth in income with well-controlled costs allowing an
increase in avallable grant giving funds for the second year in a row. This result is all the more encouraging in
that this it is set against a backdrop of continued challenges presented not least by Ihe rise in the cost of living
and global economic uncertainty.
Our total income in 2024 was £4.Om compared with £3.7m in 2023 the increase was driven by a robust
performance from investments. income derived from commercial property rents and from the use of our two car
parks.
Stratford-upon-Avon. like many town centres across the UK. is not alone in seeing a volatility in retail spending
resulting in a relatively high level of empty shops and businesses. It is reassuring that through proactive
management of the Trust's property porttolio we can report a small number of void properties and minimal rent
arrears.
In September 2024 17118 Bridge Street was purchased. this was a strategic purchase as we already owned the
other part of this outlet- 415 High Street. The propety was purchased for £1.0m.
In December 2024 we were sad to have to announce the temporary closure of the arts venue on Rother Street
that had been operating as Strafford Play House since 2017. We truly appreciate the value of this building as
part of the town's arts and culture economy and the role it could play In supporting the community. The search
for a new operator began in earnest in spring 2025.
In Ilne wlth our responslbilltles relating to the Guild Chapel we completed Important preservation work to the
exlerior of the building as identified a5 part of the Quinquennial Inspection. Thls Is part of an ongoing programme
of work which will include the restoration of the clockface.
With the support of biodiversity net gain funding we started 8 programme of long-tem ecology management and
nature conseNation at Rowley Fields with the first steps to create a wildflower meadow. This is a thirty-year
agreement with Warwickshire County Council and a further four acres will be added to the meadow creation in
2025.
Our commitment to the environment continued at the Stratford-upon-Avon Local Nature Resetve (Stratford LNR)
thanks to our enthusiastic team of volunteers in partnership with Warwickshire Wildlife Trust and with equipment
funded by the UK Shared Prosperity Fund. We are now seeking biodiversity net gain funding for this long-lerm
project lo develop the mosaic of habitats across a 29-hectare slle. In partnership with Stratford-on-Avon District
Councll.
We have over 130 Stratford Town Trust volunteers giving their time and expertise to a range of projects,
welcoming visitors from all over the world to the Guild Chapel; supporting habitats and nature at Rowley Fields
and Strafford LNR: the wami hub team who offer friendship and support every week and our monthly Repair
Café team keeping hundreds of item5 from going into landfill. Together they have contributed an astonishing
3,240 hours of their time, equivalent to around £39k and we are extremely grateful to all of them.
Across the year we awarded discretionary grants to 147 local groups, charities and individuals to the value of
£1.2m.
Through ongoing consultation and dialogue with beneficiaries we continue to find ways to streamline our grant
application process and make it as accessible as possible to the widest number of groups. Our grants for the
year were mainly focussed on closing the gaps in financial, educational and heallh Inequalities. However, the
relentless need to fund core costs remains an area of challenge for the charitable sector and this has been
evidenced by the number of applications with a focus on accessing funding for their day-to-day overheads. As
grant maker and a charity working directly in the community we see and understand first-hand the value of
funding whal might be described, by some. as mundane operating costs for charities living "hand to mouth..
These often include things like a contribution to overall running costs of an organisation. renial and transport
costs, volunteer expenses and energy cost contribution. Whilst individually these may not sound exciting. they
are all essential e18ments of an organisalion'5 work without which a group cannot deliver its mission.
2024 marks Ihe first full year of operation at our relocated Community Hub on Avenue Farm Road. The
Community Hub has become a beacon of welcome, aCceptsn￿, friendship and support for all sections of the
community. We are delighted to report that the building is enjoying higher than anticipated occupancy from
groups supporting people in need. Our Community Hub is made possible through our own grant funding and

affordability is key. Therefore, we are grateful to Stratford-on-Avon District Council for working with us to rent the
ground floor of the building known as Venture House and the search continues for a permanent home.
STRATFORD-UPON-AVON TOWN TRUST
JOINT MESSAGE FROM OUR CHAIR OF THE BOARD AND CHIEF EXECUTIVE
For year ended 31 December 2024
As part of our non4iscretionary commitments, the entitlement to the King Edward Vl Grammar School Trustees
(KES) from the Guild Estate was £777k (2023 £727k), the Church Street Almshouses received £59.Ok {2023
£54.5k) and a stipend to Holy Trinity Church of£7k {2023 £7k) was paid.
As ever, our costs have been closely controlled through continual careful management of the organisalion by our
senior management team. We closed the year with support costs (overheads) of £625k an increase of £47k year
on year, this increase was attributable to an increase in headcount and staff salary increases, driven by inflation
and the impact of the increase in minimum wage levels.
Our small team of staff, eleven trustees and bNO non-executive members of Ihe Audit & Governance Committee
continue to go over and above to deliver our mission to maximise our assets and work in partsiership for the
benefit of the people of Stratford-upon-Avon. During the year we welcomed Sarah Summers and Lewis
McNaughl- and welcomed back Gill Cleeve as they joined us as Stratford-upon-Avon Town Council Nominated
Trustees. Flnally, we must thank our reb'ring trus18es Liz Coles, who served a full temi and Tony Jackson who
served two full terms Includlng years as Chair.
The Town Trusl Is wonderfully distinctive as a membershlp charlty and our members are 8 valuable touchslone,
offering challenge and guidance in our planning, and playing an active part in creating a vibrant and connected
community. Becoming a member is the best way to get doser to the work of the Town Trust and joining means
you are able to attend our AGM and stand a5 an elected trustee. Joining is easy at
www.s
ratlord
own
rusl.co.ukl'oinus
Please do join us at our AGM which will be on Wednesday 10 September 2025.
Sara Aspley
Chief Executive
Tim Bailey
Chairman
21 May 2025

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
The Trustees present their annual report and financial statements of the Town Trust for the year ended 31
l)ecember 2024. The financlal statements have been prepared in accordance with the accounting policies
set out in note I to the accounts and comply with the Town Trust's governing documents, the Charities Act
2011 and the Statement of Recommended Practice." Accounting and Repo￿ng by Charities published in
2015. The report of the trustees complies with the requirements of the directors, report as per the
Companles Act 2006.
The Strafford-upon-Avon Town Trust (Town Trust) is the corporate Trustee of the Guild Estate Endowment
(Guild Estate) and the College Estate Endowment (College Estate) (referred to as °Group°).
Principal Activities
The principal activity of the Town Trust is the giving of grant5, discretionary and nOn-disc￿tIon8ry. to
organisational beneficiarles that are based in the parish of Stratford-upon-Avon, working for the benefit of town
residents. This is facilitated by the careful management of the investment portfolios h&ld by the Guild Estate and
the College Estate.
The Town Trust endeavours to maximise the return on all classes of investments, in order that the grant-making
programme can continue to provide a reliable source of funds for Ihe local beneficiaries. However, there is also
an element of present value versus long temi strategic value in terms of asset management and value
optimisation. The Group, with a history dating back more than 500 years, tskes a very long-term view on income
generation.
Objects
The Town Trust's Objects are to be applied for the benefit of those Ilvlng In the town of Stratford-upon-Avon; and
are as set out in the Memorandum and Articles of Association (those studying or working in the town may also
benefit incidentally):
to relieve need, hardship and distress among beneflciarles;
to relieve sickness, disability, old age and infirmity among beneficiarie5;
to provide or support the provision of facilities for education of beneficiarles, including the advancemenl of
learning and knowledge;
to provide or support (with the object of Improving th8 conditlons of life for beneficiaries in the interests of social
welfare) facilities for recreation and other leisure-time occupation.
to advance the Chrlstian religion for the benefit of beneficiaries; and
to further eny other charitable purposes for the general benefit of the beneficiarles,
Climate Change and the Environment
The Town Trust is conscious of the impact of climate change and the need to achieve environmental
sustainability. We work together with local stakeholders, including Stratford Net Zero, Strattord Climate Action,
Stratford-upon-Avon Town Council, StratFord-on-Avon District Council and Warwickshire County Council towards
achieving carbon neutral targets.
As defined by our goveming document, the Town Trust's work is conflned to the parish of Stratford-upon-Avon.
meaning that our operational carbon foolprint is small.
The organisation has 15 members of staff, 800/0 of whom Ilve within a ten-mile radius of the town and we operate
a flexible working policy which allows for some home working. Our work is best described as hyper local which
means there is almost no need for national or international travel. We do not own or lease any organisalional
vehicles. nor do we manufacture or purchase consumables.
We recognise that even small organisations have a responsibility to embra￿ the goal to be carbon neutral and
our focus is on limiting waste and efficient use of water and energy.
Many of the buildings within our endowed portfolio are listed or were built prior to energy performance
considerations. Implementing modern energy-saving measures to historic buildings presents significant financial
and operational thallenges related to the legal obligations placed on landlords to preserve a building's historlc
character requirtng careful plannlng. expert knowledge and specialist materials. Nevertheless, we work hard to
make changes that will have a positive impact on the Energy Performance Certificalion raiing. We take a
proportionate approach to making such adaptations balanced against our charitsble objects.

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Climate Change and the Environment (Continued)
With thity-year ecological management plans adopted for our green spaces - Rowley Fields and Stratford LNR
we have made a demonslrable commitment to improve the biodiversity of habitats in support of nature
conservation. At Rowley Fields work has started to turn 14 acres of impoverished grassland into a species rich
wildflower meadow. at Stratford LNR the wetland areas, we established, have begun acting as natural filters,
storing carbon, adding protection against extreme weather events like floods and droughts, and supporting
biodiversity.
We have 122 fully occupied allotments on Church Lane enabling local people lo grow their own food.
Through our grant funding we support initiatives like the Stratford Climate Hub in the town centre to raise
awareness of the climate crisis and offer practical solutions that can be applied to daily life.
In partnership with Strafford Net Zero we operate a monthly volunteer-led Repair Café which aims lo save
variety of everyday household items from landfill and replacement. Now in ils Ihird year of operation the Café
has a repair success rate of around 800/0. In 2024 Ihe volunteer repairer5 tackled 838 items. This equates to 2.8
tonnes saved from landfill and 17.3 tonnes In carbon savings.
Strateglc Plan 2021- 2025
We launched our current strategic plan in November 2020 following community consultation with residents of
Strafford-upon-Avon. Almost 1.500 people took part in the consultation and 91 % of respondents told us Ihat
Strattord-upon-Avon was a good place to live., whi15t 80Q/o said the Town Trust was importanl to them and the
town. Our members told us that they valued our work and wanted more opportunities to connect with one
another in support of the communlty.
The strategy focuses on four pillars of activity: grant making, community engagement, place making, and finance
and investments.
The strategy for 2021-2025 was strengthened by a review of, and recommendations for, the Town Trust'5
endowed property estale by an independent third party. Having a clear and robust Financial Investmenl Policy
has enabled the Board to make sound, strategically led decisions and we will continue to work in this way
through 2025.
Our Grant Making Strategy has evolved with a shift towards a model of participatory grant making, that sees the
Town Trust working with and alongside charities to co<reate projects. We have used an impact assessment
model in a proportionate way with all our grantees and refining our commitment lo this will be a key focus of our
Grant Making Strategy in 2025. The findings and recommendations from the Bayes Business School {Centre for
Charity Effectiveness) were developed into an action plan and these continued to be implemented in 2024.
Llstenlng to the communlty and our members Is an actlve pert of the Town Trust's work. By making ourselves
open to new ideas., by asking questions and building networks we have started lo understand what really matters
to people in relation to the place where they live. This led to the formation of our Community Engagement and
Place Making Strategies.

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 De￿rnber 2024
The progress of our key aims in 2024, year four of our Strategic Plan period can be summarised below..
Alm
To restore gr055 income to
2019 levels
To develop a propety
slfalegy with a more
focused approach
To engage in
conversations in order to
act as a connector to
share learning and drive
change
ress 2024
Income in 2024 conllnued to exceed that of 2019.
Commercial voids in 2024 were well below Ihe national average of 10°h.
Arrears were well managed and 3 properties undernvent repairs in 2024, wllh a vlew to being
let in 2025.
In addition to regular communicalion with mefflbers a 5erie5 of events were held in 2024
Members. Dog Walk al Slratford LNR.
A session entitled 'lh6 impacl of our grant making,, so members could hear dir8cUy from the
Town Tru51's beneficiarie5.
A connected communlty in nature talk for members as part of the Great Big Green Week.
Invilalon for members to vlsll Slratford Youth Collecllve ISYCI to hear from the young people
who attend what the hub means lo them.
Our 2024 AGM was in person al the Play House.
Our Chlef Execullve ch8ifS the Stratford Town Strategic Partnership.
The biodiversity nel gain project at RO￿eY Fields commenced In aulumn 2024.
The ecology volunteers had $ess￿n$ al both Strafford LNR and Ro￿A8Y Fièlds.
R ular Re
alr Cafés were held conlribulin
17.3 tonnes to carbon savin
Slratford Youth Collective ISYCI was borne out of the Trust's pllol parlicspalory grant making
ect and In 2024 SYC o
ened its hub on Bimin
ham Road.
Received award from the Rural Shared Prosperlty Fund contrlbuttng lo the renovation of the
Old GraSn Slora.
Further funding was gratofvlly ￿CeIV&￿ for the wmmunlty hub from Warwlckshlre Rural
Communi
Councll
WRCC
towards warm hub activitie5.
An ongoing commllmenl to
the environment and
sustainability
To move lo a model ol
artiCApato
rant makln
To develop additional
Income through extemal
fundlng sireams
In late 2024 planning commenced for our next Strateglc Plan (2026 - 2030) startlng wlth a member, public and
stakeholder consultation In spring 2025.
Communlty Hub
In 2024, we delivered our first full year as a community hub in our current location on the ground floor of Venture
House. The Community Hub continues to establish itself as a vilal resource for local people, with a steady
increase in room hire driving income. The Community Hub alms to:
Provide hlreable space to enable others, to deliver work which is beneficial to the community.
Provide a safe, warm, welcoming space through the work we direcily deliver with help from our
volunteers, such as with our weekly 'Warm Welcome,.
Assist granl applicants by offering a weekly drop-in session with the grants team to dlscuss Ideas at an
early stage In a friendly and supportlve space.
The Communlty Hub has three rooms of varlous slzes avallable lo hlre as well as hot4esking for a small
donation. We had approximately 800 bookings over the year, from 67 groups. Most of the groups who use the
space are charities, CICS or not-for-profit organisations.
The hub 15 key to our community engagementwork and continues to offer a weekly'warm Welcome, session,
with the focus on reducing loneliness and isolation,. signposting to support and providing activities which benefit
both physical and menta5 health.
The Wami Welcome sessions are entirely volunteer led and in the year we were grateful for funding from WRCC
(£625 for 2024) towards activities and equipment. In 2024, 92°/o of Wami Welcome attendees reported that they
felt more positive because of attending.
We delivered 25 free to access family workshops during school holidays. Sessions are aimed at lower income
families and all have been oversubscribed. Our Fun Palace outreach activity as part of the national Fun Pala
weekend welcomed over 270 people.
Our Community Hub at Venture House is a short to medium term arrangement, with the current lease taking us
to May 2027. A Steering Group has been set up to explore options beyond 2027.
The net cost of operating the Community Hub was £91k (2023: £115k).

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Volunteering
Volunteering is a key part of our work in the community.
Guild Chapel volunteers covered 394 shifts between them in 2024 welcoming over 72.000 visitors, a significant
increase on previou5 years.
Our Guild Chapel volunteer led events for the year included a demonstration of greal medieval feasts as part of
Shakespeare Schools week. As part of Heritage Open Days, we partnered with the Shakespeare Birthplace
Trust to showcase the 14th Century Letter of Indulgence with lours and lectures led by volunleers.
The highlight of the year was a dramatisation and retelling of the 14Lh century poem the Dance of Death bringing
to life the painting that covers the wall of the Nave.
The monthly Repalr Café is made possible by a core team of around 30 volunteers or around 300 sessions for
the year covering tool sharpening, sewing, PAT testing, electrical repair, bike repair, general repair, reception
desk. runners, refreshments, and front of house. This popular community event is run in partnership with local
group Stratford Net Zero and funded through donations. In 2024 the Repair Café made a small surplus that will
be split between Town Trust and Strafford Net Zero.
Our nature conservation volunteers worked across 56 sessions to support nature recovery at Rowley Fields
Community Orchard and Stratford LNR.
Grant Making
The 2024 grant making programme focused on tackling inequality across several key areas, alongside a
commitment to funding core costs to ensure the susiainabilily of vital community organisations.
Educational inequality - Supporting projects that address disparities in educational access and
outcomes, particularly for children and young people from disadvantaged backgrounds. Grants
funded initiatives such as mentoring schemes, literacy programmes, and extracurricular
opportunities that enhance learning and future prospects.
Financial inequality - Investing in services that help individuals and families facing financial
hardship, including debt advice, access to benefits, and employment support. Grant funding
enabled organisations to provide crisis 8SSlStance, financial literacy training, and long-term
pathways to financial siabilily.
Health inequallty - Addressing differences in health outcomes linked Io socio*conomic status,
geography, or other systemic factors. Grants supported mental health services, access to
nutritious food, community health programmes. and initiatives that tackle social isolation.
Core costs - Recognising the importance of sustainable, well-resourced organisations, grant
funding has also been directed towards essential operational expenses. This includes staff
salaries, rent. utilities. and organisational development, ensuring that charities and community
groups can focus on delivering impact without financial instability.
By addressing these interconnected challenges while supporting the long-term resilience of organisations,
the grant making programme aims to create meaningful and sustained change in the community.

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Grant Making (Continued)
Summary of Discretionary Grants awarded in 2024 (net of grants cancelled)
Community Benefit
Awarded
Examples of Beneficiarles
Brain Tumour Support Group: Stratford services £12,918
Safeline- sexual violence and its impact on males £60,000
Hardship funds for individuals- administered by CASW £20,000
Time4Hope: Time 2 Unite project £17.714
The Shakespeare Hospice: Core costs £40,000
The Myton Hospi￿$. Core costs to support Stratford residents
£40.500
Lifespace.. Core costs £39,830
Young Mind5 Matter- Core costs and tackling inequality in health
£35,000
VASA: Core costs £25,000
Orchestra of the Swan.. Café Muse £15,834
New Hope Counselling.. New Hope Stratford service - core costs
£13,820
Bishopton Community Centre CIO- Disability accessibility at
Community Centre £12,886
Home-start South Warwickshlre.. Core costs £12,480
Forest of Hearts.. Stratford Community Garden Creations £10,000
Entrust Care Partnership- Slratford Family worker £5,000
Citizens Advice South Warwickshire: core funding and
management support £66,000
Spring Housing Association: Core costs £75,000
The Parenting Project.. Family Wellbeing Pathway £51,384
Strarford-upon-Avon Sports Club: Strafford Sporting Memories
Club £3,840
Little Bird Baby Bank.. Core costs £2,000
Stroke Association Stratford-upon-Avon Support Group.. Ongoing
therapy support £1,000
Strafford-u
on-Avon Catenian Circle: Volunteer ex
enses £1,000
Grants to all town slate schools, plus three out of town schools
with a large number of Stratford-upon-Avon resident pupils and
New Meaning Training Ltd: £194,338 in tol81- 16 grants
Stratford Youth Collective.. core costs £100,000
Shakespeare Birthplace Trust: New education centr8 £50,000
New Meaning Training Ltd.. Core, capital and innovation costs
£25,000
Thomas Jolyffe Primary School: Education costs £12,500
St Andrew's Church. Shotlery.. Children & famllies worker
£12,240
Strafford Sea Cadets: Boating equipment upgrade £6,650
1st Shottery Scout Group.. New campfire & educational area
£2,000
151 Bishopton Brownies: brownie activities including annual
holiday £1,050
TDC Stratford Youth Theatre CIC: #onmafa 2030 £1,500
2nd stratford Brownies: PGL trip 2024 £1,420
1st Bridgetown Guides.. Guild summer camp 2024 £1,055
151 Bridgetown Brownies: Brownie summer camp £570
1s1 Shott8ry Scout Group.. campfire and education area £2,000
Stratford Family Club CIC: Strafford Family Groups £2,000
Stratford on Avon Music Festival: Sin
for Fun £1,640
To relleve need,
hardship, distress,
sickness,
disability, old age
and infirmity
among
beneficiaries
£548,824
To provlde or
support the
provision of
facilities for
education for
beneficiaries,
Including the
advancement of
learning and
knowledge
£412,918

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 De￿mber 2024
Grant Making (Continued)
Communit Benefit
Awarded
Exam
le8 of Beneficiaries
Play House: community evants support £78,125
Avon Bowling Club.. Flood restoration work £1,490
Paint Strafford: Paint Stratford 24 £5,000
Royal Shakespeare Company.. Waterside costs £3,975 and the
Welcome Space £15,000
StratFord Town Girls Football Club.. Sustainable gr0￿h of club £5,000
Stratford-upon-Avon Society.. Marie Corelli Centenary £1,000
Stratford Sharks ASC Swimming Club: Hardship and training support
£6,250
Strattordvupon-Avon & District Table Tennis Association: Core costs
£2,000
Cycle Infinlty CIC: Blcycle bus prolect £2,000
Strat￿rd-up0n-AV0n Kayaks.. Coach training £1,800
Second Thoughts Drama Group: props and furniture for Iheatre set
£2,000
Stratford upon Avon Tabl8 Tennls Club.. PING Strafford £2,000
Sonrlsa Arts CIC- Families get moving £2,000
stratford-upon-Avon Chamber Muslc Soclety.. Chamber Music
Society £2.000
Coperlcana CIC: Stage play 'Oon't forggt me, £2,000
Town Trust Cofflmunity Engagem8nt.' Gamlng Club £1,000
In2 Thgatre: Legend ifthe Vikings £2,000
Hathaway Quilters.. increase awarenes8 and membership £2,000
Clo
ton Communi
Action Grou
Communi
Fun Da
£1,000
Slratfordwon-Avon District Council.. Community Builder project
£23,000
Grant to sup
rt wami hub atventure House: £500
Live & L(Kal- Community Film Festlval 2024 £8,350
Pollsh Salurday School in Stratford: Town family picnic £500
Polish Club Warwlckshlre.. Costume camival ball for children and
parents £500
Stratford in Bloom: floral displays and planting £5,000
Stratford Chrlstmas Lights Co.. Christmas Lights display £5,000
Stratforward BID: Christmas lights switch on event £2,000
Town Trust Community Hub: licensee costs £1,375
Town Trust.. Bandstand summer concert programme £3,500
Town Trust.. Fun Palace £1,000
Warwickshire Industrial Archaeology Society.. Th8 history of N. C.
Joseph Aluminium Works, and Stratford Produce Canners £2.000
Net Zero Stratford", Core costs for Climate Hub Man
8r£22,925
To provide or
support facllltles
for recreation and
other lelsure-tlme
OGGupation
£136,115
To support
citizenship and
communl
£23,500
To support clvlc
pride
£26.925
Other charitabl•
purposes
£25,225
Multiyear grants- grants awarded which cov•r muthpl• years.
Sprlng Housing: £150,000 over 2 years
This project supports the Fred Winter Centre as a housing plus faclllty
Year 1 was commltted in 2024- £75,000 as a contributson io core costs.
Refuge: £98,000 over 3 years
This project supports the Stratford-upon-Avon Refuge, for women and children who have experlenced
domestic violence.
Year 1 was committed in 2022 - £32,000, year 2 in 2023 - £33,000 to fund Refuge residents who acce5S
affordable family centred recreational activities such as after school swimming lessons, baby and loddler groups.
Year 3 has been committed in 2025 - £33,000.
Citizens Advice South Warwickshire: £276,340 over 3 years
This project supports CASW to provide a range of advice and guidance in respect of money and debt.
houslng, disability rights, benefits and clalms.
Year 1 was committed in 2022 - £120,937, year 2 was committed in 2023- £89,403 to fund an operations
manager and a part-time volunteer coordinator to focus on rebuildlng a strong and dedicated volunteer team.
Year 3 was Committed in 2024 - £66.000 to fund core costs and management support.

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Grant Making (Continued)
Safeline: £156.668 over 3 years
Thls project supports male individuals who have suffered sexual violence.
Year 1 was committed in 2023 - £42,779, year 2 was committed in 2024 - £60.000.
Play House over 5 years (July 2021- June 2026)
Thls project supports beneficiary events held at the Play House.
The grant is conditional on various KPIS being achieved which include 40 unique beneficiary events (as defined
by the agreement) being held al the venue in each 12 month period July to June.
Year 1 was committed in 2021- £75,000 (reduction due to Covid lockdowns), year 2 was committed in 2022-
£125,000, year 3 was committed in 2023 £100,000. year 4, 2024, had an annual grant of £75,000. However as
the Play House operator ceased running the venue in January 2025, this award only covered 7 months and was
reduced to £28,125.
Non-Discretionary Grants
The King Edward Vl Grammar School Trustees (charity number 528769) received an entitlement of £777k
{2023: £727k) from the Guild Estate in accordance with the Charity Commission Scheme dated 1st
October 2001.
£59k (2023.. £55k) was paid towards the maintenance of the Almshouses by the Guild Estate. A stipend of
£7k (2023.. £7k) was paid to the Vicar of Holy Trinity Church by the College Estate.
FINANCIAL REVIEW
OVERVIEW
In 2024 total income for the Town Trust was £4.Om (2023.. £3.7m) the majorlty of which {94.5 % ) (2023:
98.3 % ) was generated from its inveslments. The Group is very fortunate to have the endowed investment
portFolio legacy and to not have to undertake significant fundraising on a regular basis. Investment (both
property and equity) management costs amounted to £1.2m meaning that 69.7 % (2023.. 76.2 % ) of the total
income was available to be spent on charitable purposes, enhancing the lives of Ihe people of Slratford-
upon-Avon. Investment management costs were higher in 2024 due to repairs relating to buildings where
tenants had gone into administration. We are very aware that the cost of managing Ihe investments must
be monitored closely and spent carefully but also it is irnportant that the investments are well managed
ensuring security of income flow for future generations.
£2.7m (2023: £2.4m) was spent on charitable expenditure, £2.Om {2023: £1.8m) was given as grants of
which £1.2m (2023: £1.1 m) were discretionary. and the cost of operating the Community Hub was £0.1m
(2023: £0.15m). For more detail see note 10.
INCOME
Investment income, £3.8m, remains our main source being 94.50/0 of the total income. Investment income
has improved £0.14m year on year, the majority of this increase being due to higher dividend income as
the proceeds from the property sales in 2023 had been reinvested for 8 full year in 2024.
Our investments produced a yield of 6.25°/0 (2023: 6.350/0). The slight decrease was due to higher property
related costs and the impact of the revaluation. resulting in a higher investment value in 2024 compared
with the prior year.
EXPENDITURE
The majority, 80.8 % (2023: 75.50/0). of the expenditure spent on raising funds, relates to the direct cost of
managing the investment portfolio and in the main relates to managing and maintaining the propety
portFolio. The cost of raising funds was £1.2m (2023: £0.9m). For more detail see note 9.

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
CHARITABLE EXPENDITURE
During 2024 our charitable expenditure was £2.7m (2023". £2.4m) a 13.40/0 increase. The increase was
primarily driven by an increase in discretionary grants of £0.16m. Of the charitable expenditure 85.60
(2023= 85 % ) was either grants or expenditure directly funding the Town Trust managed community
facilities.
OVERHEADS
Considering the value of the Town Trust's assets and the range of its activities, our staffing levels are
relatively small. We occupy premises owned by the College Estate and have the appropriate standards of
technological and systems infrastructure.
The Board continues to be acutely aware that our primary purpose is to deliver much needed financial and
other support to the community and our discretionary grant beneficiaries. To thal end we keep our
overhead costs under regular review.
During the year the allocation of support costs was reapportioned. to retlect the workload5 and activities
undertaken in the year.
Statement of financial activities - summa
2024
£k
3,789.5
10.6
174.7
36.4
4,011.2
2023
£k
3,649.3
11.3
Investment income
Donations
Charitable aclivities
other income
Total income
49.7
3.713.2
Expenditure on raising funds
Total net income
1,216.9
2,794.3
883.8
2,829.4
Yo of total income available for charitable
ur
oses
69.7%
76.2%
Discretiona
rants
Non-discretiona
rants l entitlements
Other charitable activities"
Communit Hub
Total charitable activltles
Net incomin
resource8
Includes support costs
1,170.5
842.6
581.3
120.9
2,715.3
79.0
1,012.5
788.4
449.8
144.8
2,395.5
433.9
BALANCE SHEET
At the end of 2024 the Town Trust had investments totalling £59.6m (excluding cash deposits). These are
the investments from which we generate the majority of our income. Of these investments, 90.4 % are
defined as endowed assets, which means that rf any of these assets are ever sold all proceeds must be
reinvested and the resulting assets would also be defined as endowed. During the year, the investments
increased in value 3.40/0 {2023: increased by 2.6 % ).
There were no property disposals and one acquisition during the year. In September 2024 17118 Bridge
Street was acquired for £O.97m. This acquisition was purchased wilh funds held in a liquidity fund. The
Performan￿ of the investrnent portfolios are continuously monitored, particularly the locally owned propety
portFolio.
At the end of the year the Town Trust had £0.8m of unpaid committed grants to discretionary grant
beneficiaries, to be paid within the next 12 months (2023- £0.6m). This amount is included in creditors.
10

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
The total funds at the end of the year were £60.2m, of which £54.9m were endowed funds. £4.9m were
unrestricted funds and £0.5m were restricted. Of these unrestricted funds £3.2m are available to fund
future charitable activities.
RESERVES POLICY
The Board reviews the reserves policy annually and considers it very important that the three charities can
pay all their committed grants and have free reserves to cover ongoing administration costs for at least six
months.
RESERVES POLICY (Contlnued)
Town Trust
Unrestricted reserves are held in the Town Trust to cover six months of administration costs (estimated at
£0.4m), the balance being available to pay future grants. The level of this reserve is reviewed annually.
In 2015 a designated reserve was set up to match the net book value of the Rother Street arts venue
building, which is a tangible fixed asset. The annual depreciation associated with this asset is charged to
this designated reserve. In 2021 designated reserves were set up to fund the running costs of the
Community Hub, the Community Hub future proofing project. The designated reserves at the end of 2024
are summarised below:
Desl
nated funds
2024
2023
Rother Street Arts Venue Buildin
Communi
Hub on
oin
C051s
Communi
Hub future
roofin
Total desl
nated funds
fomiall Pl8
House
Guild Estate and College Estate
The permanently endowed reserve in each of the Gulld Estate and the College Estate will always be fully
investrnent and cash backed. To recognise the small operational risk in both charities an unrestricted reserve of
at least £0.03m will be held in College Estate and £0.1 m in Guild Estate. The level of reserves is reviewed
annually. For more detail of the individual charities, reserves see note 25.
GOING CONCERN
Given the strength of the balance sheet and availability and liquidity of unrestricted Investments th8 Trustees
believe that it the risk of not being able to maintain our grant giving or pay our costs as they fall due to be
negligible.
INVESTMENT POLICY AND PERFORMANCE
At the end of 2024 Ihe Town Trust held investments of £59.4m (excluding cash deposits). an increase of 1.9m
compared with 2023. The Town Trust has two endowed investment portfolios. which are held by Ihe Guild Estate
and the College Estate, and olher investments, which are held by the Town Trusl and the College Estate.
The objectlve of the investment policy is to create sufficient income and capital growth to enable the Town Trust
to deliver its charitable objects consistently year on year. In the medium to long term the Town Trust aims to
generate an average annual income yield of 4.40/0 and for the capitsl value of the portfolio to grow at least in line
with inflation (CPI).
The broad thrust of our investment policy in recent years has been to increase portfolio diversificatr'on and
reduce our exposure to propety in Stratford-upon-Avon. The target range set for both physical property and
property fund investments is 50% - 70%. At the end of December 2024, the proportion was 65.60/0 of which
57.7 % was physical propety.
The Board reviewed and updated the investment policy in September 2024. The policy's main objecllves are..
Short Term (less than three years) Objective
The short-temi investment objective is to ensure that the Town Trust has sufficient liquidity to enable it
to fund its planned Spending on good causes and meet its overhead costs as they fall due.

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
INVESTMENT POLICY AND PERFORMANCE (contlnued)
Medium to Long Term Objectivo
The medium to long-term investment objectives, as measured over a 10-year rolling period, are to
achieve a balanced return from the overall portfolio such that- for the combined portfolio of the Group
there is an expectation of net income yield being not less than 4.4Vo p.a. and that the capital value
grows at least in line with inflation (CPI). Net income is defined as gross income less all direct costs
(i.e. fees, repair costs, legalladvisor fees). (4.4 /0 IS the weighled average of the yield of property
investments (4.980/0) plus the yield of the quoted investments (3.2 % )).
Long Term Objective
Endowment investments are expected to exist in perpetuity and should be managed to meet the
charities, investment objectives and ensure their sustainability.
The Town Trust also has a responsible Investment policy. which guides the Board In envlronmentsl, social and
governance issues when making investment decisions,
The Trusts (Capital and Income) Act 2013 proposed that endowed charities may adopt a total retum approach,
without having to seek Charity Commission approval. The Town Trust has considered this point in relation to Its
endowed investments but decided It was an approach it would not adopt at this time, as It prefers to utlllse the
income return approach so Ihat the endowed funds are protected for future generations.
The Town Trust does not have any social investments; all the Guild Estale and the majority of the College Estate
nvestments are endowed.
The endowed investments are split beiween physical property, equity investments, property fund investments
and cash equivalents. The non-endowed investments are held in equity or property funds. All investments held in
equity or cash are readily realisable if required.
Investmont
2024
£m
2023
£m
2024
2023
Endowed:
Ph
sical Pro
Funds
Pro
Funds
uidi
Funds
Cash e
uivalent
Total endowed investments
32.5
15.2
57.4
27.0
56.6
26.5
16.0
55.3
53.9
93.1
93.9
Non-Endowed:
Ph
sical Pro
ui
Funds
Pro
funds
Total non4ndowed investments
Total investments.
"Excludes short temi cash deposlts
59.4
57.5
100.0
100.0
Independently Managod Funds Porformanc
As at 31 December 2024 the equity investments were held with Sarasin & Partners, and Cazenove Capital Management.
The propety funds were held with eiiher the Charities Prop8rty Fund or Schroder UK Property Fund. Th8 investment
returns during the year are shown in the table below:
Income
Capital
Total
Return
Target
Benchmark
Town Trust
Guild Estate
Colle
e Estste
4.40/0
4.4/
4.00/0
7.2%
3.39/0
4.6Vo
6.3010
7.10/.
7.00/0
7.7°/.
8.60/0
12.4%
The benchmark for the Guild Estate College E51ate is the weighted average of the benchmark for the property funds
15.40/0}, which is based on AREF I MSCI All Balanced Fund5 Property Index ar￿ the benchmarf( for the Common Investments
Funds114.3°/ol {which is Galculaled based on.. ICE BofA Sterling Corporate & Collaleralized Index17.5'/.1. ICE BofA UK Gi115
All Slocks17.5Q/o}. MSCI AC Worfd {Local Currency} IGBP} {10V/ol, MSCI All Balanced Propety Funds- One Quarter Lagged
15 /D). MSCI All Countrie5 Daily (Nel Total Reluml18OQ/o). 20/0 per annum above SONIA (alternative asselsl110V/ol-
Continued over...
12

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
The peer group performance datrd used is the ARC Steady Growth Charity Index for 2024, Ihls had 8 retum of 8.2Vo.
For the Guild Estate and the College Estale the actual performance was at￿ve the largel but below the benchmark. in the main
this was due lo the impact of Ihe high inleresl rates and the benchmark including a lower proportion of dividend payng equities
than that vthich is held wilhln the iwo pKsrtfolios. as dividend income is important to both Ihe Guild Eslale and ihe College Estsle.
The benthTnark for the Town Trust Is the weighted average of the benchmaTk for the property fund515.4¥.). which is based
on AREF / hASCI Al Balanced Funds Propety Index and the benchmark for Sardsin investment lunds {12.30/.I-. ICE BofA 1-10
Year Sleding Corporate & Collalerali2ed Index {7.5010l. ICE BofA 1-10 Year UK Gill Index18.75 101. ICE BofA Slerfing
Corporate & Collaleralized Index15.63010}. ICE BofA UK Gills All Slocks15.63 10}, MSCI AC World {Local Currency) {GBP)
{7.5'/ol. MSCI All Balanwj Propety Funds . One Quarter Lagged13.75Vv). MSCI Ail Countries Worfd Daily (Net Totsl Return)
{50Q/o}. SONIA11.25Q/ol, 20/0 per annum above SONIA {allemative assetsl110V/DI.
Property Investment Performance
The combined property portfolio is valued at £34.4m12023: £32.8m}. It is a regulatory requirement that a full
valuation is performed every five years. The propety agents, Colliers Intemational Property Consultants Limited,
performed a full valuation of properties as at 31 December 2020.
The income yield during the year exceeded the iarget and Ihe benchmark, however the capital return failed to
match the rate of inflation, but this was to be expected as a full valuation was not undertaken in 2024.
Income
Capltal
Total Return
arget
Benchmark
Guild Estate
5.4Vo
College Estate
7.3%
7.5.10
5.40/0
The benchmark for the Guild Estate and the College Estate is the AREFIMSCI All Balanced Funds Propety
Index.
The Group propety portfolio had an average capital return of 1.8 % (2023.. 0 % ). The rental yield for the combined
portfolio was 7.9 % (2023: 8.1 /0}, giving a tolal return of 9.7 /012023'. 8.10/0).
In 2024 the Town Trust's commercial propety portFolio in Strattord-upon-Avon continued lo cope with the on-
going economic challenges, the age and listed status of some properties and the change to retail shopping
habits. During the year we have had a small number of void properties and a good level of r&nt collection that
was belter than that experienced by other property portfollos of our magnitude and mlx In the current economic
climate.
At the year-end, there were four void small offices and four void commercial units, which were all undergoing
repair work with a view to being let in 2025.
Investment criteria
The Board has considered carefully the requirements of the SORP and the Charily Commission's revised
guidance note CC14 (issued in October 2011 } and continue to conclude that they do nol believe there is any
listed investment adverse to the purpose of the charity.
Publlc Benefft
The Public Benefit of the Town Trust is primarily achieved through its grant-making that aims to benefit the
"inhabitants of Stratford-upon-Avon" (as defined by the administrative boundary of the parish).
In order to measure where and how our grants demonstrate the most impact, applicants must outline how many
local residents will benefit from their work and services, identifying beneficiaries with a town postcode. They are
also required to outline how residents will benefit and how the organisation will track and measure success and
outcomes. This information helps the Town Trust to undersiand how its discretionary grant-making achieves a
spread of benefit across the community it serves. Through close links and a deep engagement with local voluntsry
sector groups and charities the Town Trust ensures thal the benefit is cast as widely as possible, focusing on
supporting organisations able to demonstrate sustainable and long4asting positive outcomes.
In 2024 our Community Hub continued to be enjoyed, valued and recognised as an established community
destination, providing an enormous benefit to so many.
13

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Public Benefit (Cont'd)
Our 122 allotment plots in Church Lane, Shottery, have continued as an active community of growers, sharing
seeds, knowledge and produce during the last 12 months. We hold a waiting list for people interested in having
an allotment and as larger plots become available, we divide them to enable more people to become involved.
During 2024 the Town Trust continued lo support the operators of the Play House by providing the premiges rent
free and with a grant to support community events. The operator of the venue gave notice in July 2024 to cease
running the venue and their tenure ended in January 2025. The Town Trust has commenced the process of
appointing another operator as it acknowledges the importance of the venue to the residents of StratFord-upon-
Avon and the community arts groups and organisatlons within the town.
The Board, in exercising its powers and duties. has complied with its duty in Section 17 of the Charities Act 2011
to have due regard to the public benefit guidance published by the Charlty Commission.
Structure, Governance and Management
The Stratford-upon-Avon Town Trust (Town Trust) is the corporate Trustee of Ihe Guild Estate Endowment
(Guild Estate) and the College Estate Endowment (College Estate) (referred to as "the Group").
CHARITY REGISTRATION NUMBER
COMPANY REGISTRATION NUMBER
1088521
04222949, registered In England & Wales
The Town Trust is a charitable company limited by guarantee. Incorporated on 24 May 2001, and was registered
as a charity on 1 October 2001. The company was established under a Memorandum of Association, which
established the objects and powers of the charitable company, and it is governed under its Articles of
Association. Although the Guild and College Estates are not companies under company law, the Charity
Commission recognises thal the three entities operate as a group and as such allow the stalutory accounts to be
prepared on a consolidation basis.
The Town Trust can have a maximum of eleven Trustees. Five are elected by the Town Trusvs members, three
are nominated by Strafford-upon-Avon Town Council (bul do not need to be Town Councillors) and three are co-
opted, chosen by the other Trustees via an open recruitment process. The Trustees serve an initial term of four
years, after which they may pul themselves forward for re-selection or re*lecllon for another four-year term.
Within the Town Trust, all Trustees (elected, nominated, and co-opted) form the Board as equal members. There
are three committees, the terms of reference of which are reviewed and updated as requlred, on an annual
basis.
The committees are Audit & Governance., Grants & Communlty Engagement,. and Finance, Investment and
Property. The Remuneralion sub-committee sits within the Finance, Investment and Properly Committee and Is
responsible for recommending any staff remuneration and benefit changes to the Board, which in lum is
responsible for the approval of such amendments.
The Audit & Governance Committee also has two non-executive members, who ensure the Committee operates
in an independent and impartial manner. The non-exeGutive members may also attend Board meetings and
other committee meetings.
14

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Structure, Governance and Management (Cont'd)
The key responsibilities of the committees are shown in the table below,
Committee
Audil & Governance
Res
onsibilities
Ensuring risk management, governance and internal control systems are
functioning effectively and report when attention is required to improve.
Interface with external auditors.
Review and oversight of constitution, regulations and non-operational
decision making
Review, adoption, and implementalion of policies relating to legal and
Chari
Commission re
ulalions.
Approve and review grant awards.
Review and recommend the Grant Making Policy and Strategy.
Monitor delive
of Communication and Communi
activi
Plans.
Review of quarterfy Tnanagement accounts, annual budgets, 3 year rolling
plans and the annual siatulory accounts.
Review and updating of investment and reserye pollcles.
Review and oversi
ht of all
ro
& inveslment related matlers.
Grants & Communlty
Engagement Commiltee
Finance, Investment
and Property
During the year there were eight Board Meetings, al which the Trustees agreed the broad strategy of the Town
Trust and discussed the key areas of activity including grant giving, investment management, reserves, and risk
management. The various committee minutes are reported at the subsequent Board meetings.
The Town Trust is most appreciative of the time and effort whlch all its Trustees give so freely (for full details of
Trustee5 see page 20).
A comprehensive induction process Is provided to each Trustee on Joining the Town Trust. All conflicts of interests
are registered when a Trustee joins and updates are requested at every committee and Board meeting. In
meetings where a conflict of interest arises the Trustee withdraws from that section of the meeting.
All Trustees are volunteers, and no Trustee received any remuneration during the year. Details of Trustee
expenses are disclosed in note 26 and Trustee related paty transactions are disclosed in note 32.
The Town Trust employs a number of staff, details of staff costs and numbers are disclosed in note 12. All new
staff are inducted and trained when they join the Town Trusl, so that they can perform their responsibilities
efficiently and effectively within the guidelines set out by the Town Trust's policies, processes and procedures.
There is a staff appraisal process and staff training requirements are reviewed annually. The staff, who have
delegated powers set by the Board, undertake the administration for all three entities and as such a
management charge is passed on to the Guild Estate and the College Estate to reflect this.
Risk Management
The Town Trust's rfsk policy was reviewed In autumn 2024, when the Town Trust assessed its risk appetite to be
low to moderale. The Town Trust continually reviews its risks. which are mainlained on a risk register. Risk is a
standing agenda item for all Board and committee meelings.
The risk policy explains the process for identifying. assessing, mitigating and managing the risks. Onc8 the risk
has been identified and categori5ed, it is then assessed based on the impact and the likelihood of the risk
occurring. Then, if possible. measure5 are taken to mitigate the risk. The policy requires that Ihe risks be
monitored and assessed on a regular basis. and stales Ihat this is done by reviewing and discussing the Risk
Register. The whole process is monitored by the Audit & Governance Committee.
15

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Risk Management (Cont'd)
The Board conslders that the major risks facing the Group at the end of the year are-
Princi
al Risk
Risk of major nationall international
incidents
Miti
ation
Monitor and remain aware of developments.
Major Incident Plan.
Ensure reputable fund managers are used.
Closel
monitor investments.
Investment Slrategy and Policy.
Appointed fund managers working to KPIS and benchmarking data.
Quarterfy ravi8w of investment parfonnance both yield and capital
turn.
Regular update meetings held with fund managers.
Diverse
orttolio of fvjnds held.
Regular inspections by managing agents and CO•ordination with Town
Trust.
Dilapidations dause Induded In leas8.
Ind8
end8nt advic8 SOU
ht where a
licabl8.
Th8 legal agreement b8bNe8n the Gulld Estate and KES school clearfy
sets out calculation.
Leg81 advice has been sought on challenge. so the Board is well
advised and has a detailed understandin of the situation.
Equity investrnents fail to deliver
expected return
Commercial tenanls fail to maintain
their propety under the terms of their
lease
Challenge from other Slratford
schools to KES'S non- discretionary
enlitlemant
Health and Safety
The Town Trust continued its programme of Health and Safety site audits which is driven by the objective of
keeplng our people, the community, properties, and environment Safe. This strengthens the Town Trust's approach
to keeping all our staff and visltors safe. The Health and Safety Group meets quarterly with representatives from
across the group. A regular inspection programme is carried out by Town Trust staff alongside a suite of Risk
As5essrnents. Health and Safety is a sianding Board agenda item.
Equity, Equallty, Dlverslty and Incluslon
The Town Trust shows respect for all our employees and volunteers, valuing everyone's contribution, regardless
of their age, gender, gender identity, sexual orientation, marital status, civil partnership status, disability,
nationality, race, religion, or bellef. We are committed to ensuring that we are an incluslve, equal and equitable
organisation. We believe Ihat everyone should have the opportunity to reach their full potential, regardless of
their background or circumstances. During the year the Town Trust developed a refreshed EEDI policy. The
Town Trust has an action plan to embed EEDI in all aspects of its work, which is currently been rolled out.
Safeguardlng
Whilst the Town Trust does not work directly with children, young people or vulnerable adults. we recognise
many of the groups that we support do, particularly in our Community Hub. Therefore, we place considerable
focus on safeguarding gov8mance with mechanisms in place for regular review of policy and procedures
including a Designated Safeguarding Lead and Deputy Lead within the staff team and a Safeguarding Champion
at Trustee level. Safeguarding is a Standing Board agenda item.
GDPR Policy
The Town Trust works hard to ensure a high standard of GDPR compliance is achieved and has a Data Lead
within the stsff team to ensure compliance is understood across the organisalion.
Fundraising
Whilst we do work with specialist consultants and organisations to advise and support our activities, we do not
fundraise or canva5 our meTnbers for fundraising on behalf of any other organisation.
16

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Openness, Transparency and Accountability
The Town Trust works hard to manage overheads and maximise the funds flowing into the grant-making
programme.
In 2024 four events We￿ held to bring people closer to the work of the Town Trust. In January, a members. dog
walk was held at Rowley Fields. Followed in March by an event to explain the Impact of the Town Trust's grant
making. In June we participated in the Great Big Green Week with an event billed as 'A Connected Community
in Nature, where we shared our ecology plans for Stfatford LNR and the planned wildflower meadows at Rowley
Fields. In July the members were invited to an open evening at SYC to see inside the new youth hub and to hear
how a range of after school activltles are being delivered for the benefit of the young people of Stratford-upon-
Avon.
Grant Making Policy
Informatlon about how to apply for grants is available on the Town Trusfs website.. www.stratfordtowntrust.¢o.uk.
The Town Trust accepted main grant applicalions from March to September in 2024 and throughout the year
continued to offer its small grant scheme, whereby organisations could apply for grants of up to £2.000 and
receive a decision in ten working days. We contlnue to offer small value grants to individuals experiencing
financial hardship. this scheme is administered on our behalf by Cits'zens AdviGe South Warwickshire.
The organlsations in receipt of multi-year grants continue to report during the year. Once the first year's grant is
awarded, subsequent y8ars of the prolect are awarded in principle only. These g￿nIS are dependent upon the
organlsation meeting agreed targets and the Board approving the report and a budget for the coming year.
Each grant is allocated to one of our charitable objects, but many awards meet or more.
Monitoring of all grants takes place through visits, grant utilisation reports and grant audits.
Control Environment
Internal Controls
The Board is responsible for ensuring that there are effective and adequate risk management and internal
control systems in place to manage the strategic and operational risks which the Town Trust has and could be
exposed to. Processes In place regarding risk management and internal controls include..
Rlsk poll¢y and process;
Review of internal controls and processes by Audit & Governance Committee and compliance advisor
where appropriate.,
All major programmes and projects are scrutinised by senior management and monitored through an
appropriate Cornmittee.,
The safeguarding of assets against unauthorised use or di5POSltion;
Robust financial policies and procedures enabling the maintenance of proper accounting records:
The reliability of the financial informats-on used wiihin the Town Trust or for publication:
Detailed grant making policies and procedures. and
The safeguarding of personnel.
The Town Trust has an organisational structure with defined lines of responsibility, job descriptions and
delegated authority levels.
Information Systems
The Town Trust prepares quarterly management accounts which compare actual results with the budget. These
are reviewed by both the Finance, Investment and Propety Committee and the Board. Variances are followed
up by management. Annually a three-year plan is produced which is dovetailed into the strategic plan with
scenario ovedays, where necessary. An annual budget is produced, which is compared with the three-year plan
and the expected out-turn by the Finance, Investment and Property Committee and then approved by the Board.
Cash forecasts are prepared monthly to aid investment decisions and efficient cash management.
17

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Inforniatlon Systems (Cont'd)
The Board has examined the effectiveness of these key procedures during the year. This is achieved primarily
through the review of the reports from management and external audil, reviews of the quarterly and annual
financial ststements and reviews of the major risks facing the Town Trust.
The Board has reviewed the effectiveness of the Town Trust's system of internal financial controls that require
disdosure in the financial statements and believes them to be adequate.
The Town Trust has outsourced its IT support, thus ensuring that it has appropriate cyber security and backup
processes to prolect the Town Trust's ne￿Ork and data.
Our Staff
None of the Town Trust's work would be possible without the commitment and hard work of our staff. The Town
Trust Is most grateful to all of them for thelr contlnued support and hard work.
In December 2024 the Town Trusl had 15 paid members of staff (12.9 FTE). Their wealth of experfence, skllls
and commitmenl has enabled the Town Trust lo deliver another year of granls and inve5trnent management. It is
important that the Town Trusl continues to atlraGt, recrult and retain talented and committed individuals. The
Board is responsible for the approval of the annual remuneration review, which is recommended by the
Remuneration Sub-committee.
The Town Trust's employment policies follow best practice. They confirm our commltment to equality of
opportunity in all areas of employment. All employees are treated in a fair and equal manner and in accordance
with the law regardless of gender, marital stalus, race, religlon or belief, age. disability, or sexual orientation.
18

STRATFORD-UPON-AVON TOWN TRUST
REPORT OF THE TRUSTEES
For year ended 31 December 2024
Statement of responsibilities of the trustees
The Trustees (who are also directors of Strafford-upon-Avon Town Trust for the purposes of company law) are
responsible for preparing the Trustees, annual report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and
fair view of the slate of affairs of the charitable company and group and of the incoming resources and
application of resources, including the income and expenditure, of the charitable company or group for that
period. In preparing these financial statements, the trustees are ￿qUired to:
Select suilable accounting policies and then apply them conslstentiy.
Observe the methods and principles in the Charities SORP.
Make judgements and estimates that are reasonable and prudent.,
State whether applicable UK Accounting Standards and statements of recommended practice have been
followed, subject to any material departur8s disclosed and explained in the financial statements; and
Prepare the financial stalements on the going concem basis unless it is inappropriate to presume that the
charity will contsnue in operation.
The Trustees are responsible for keeping adequate accountlng records that disclose with reasonable accuracy
at any time the financial position of the charitable company and enable ihem to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
In so far as the Truslees are aware:
There is no relevant audit information of which the charitable company's audltor is unaware., and
The Trustees have taken all steps that they ought lo have taken to make themselves aware of any
relevant audll information and to establish that the auditor is aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information
included on the charitable company's website. Legislation in the United Kingdom governing the preparation and
dissemination of financial siatements may differ from legislation In other jurisdictions.
Members of the Town Trust guarantee to contribute an amount not exceeding £1 to the assets of the Town Trust
in the event of winding up. All Trustees musl be members of the Town Trust. The Trustees have no beneficial
interest in the Town Trust.
Tim Bailey
Chair of Board
Approved and signed on behalf of the Board
21 May 2025
19

STRATFORD-UPON-AVON TOWN TRUST
OFFICERS AND ADVISORS
TRUSTEE BOARD
Tim Bailey (Chair of Board from 1 November 2023)
Gill Cleeve (resigned 3 May 2025)
Liz Coles (term expired 31 May 2024)
Marion Homer
Tony Jackson (term expired 31 May 2024)
Simon Littlejohns {Chair of Finance Investment & Property Committee from 1 February 2023)
Henry Lu
Lewis McNaught (appointed 1 June 2024)
Michael Rolfe
Jonathan Smith
Josie Stevens (Deputy Chair of Board from 1 November 2023)
Sarah Summers (appointed 1 June 2024)
Mark Tailby (Chair of Grants & Community Engagement Committee from 22 November 2023)
NON-EXECUTIVE AUDIT & GOVERNANCE COMMITTEE MEMBERS
Sundash Jassi Deputy Chair from 1 January 2024
David Lane
Chair from 1 January 2024
CHIEF EXECUTIVE
Sara Aspley
SENIOR
Sara Aspley (Chief Executive)
MANAGEMENT Rebecca Hampson {Head of Finance
TEAM
& Deputy Chief Executlvel
James McHugh (Grants Mantyer)
Paul Fltzpatrick {Building8 & Facilities
Manager) (to 29.2.241
Richard Popple (Building8 & Facilities
Manager) (from 12.2.24)
Frances Nibbs (Community Hub
Manager)
Lynn Perkins (Executive Assistant)
AUDITOR
Sayer Vincent LLP
110 Golden Lane
London
EC1Y OTG
PROPERTY
MANAGER
Colliers Intérnational Propety
Consultants Limited
19th Floor
103 Colmore Row
8imiingham
83 3AG
INVESTMENT
MANAGERS
Cazenove Capital (part of
Schroders & Co Limited)
l London Wall Place
London
EC2Y SAU
Schroders & Co Limited
1 London Wall Place
London
EC2Y SAU
Sarasin & Partners
Juxon House
100 St Paul's Churchyard
London
EC4M 8BU
Charities Property Fund
Cordea Savills
33 Margaret Street
Landon
W190JD
SOLICITORS
Robert Lunn & Lo￿h LLP
2 Sheep Street
Strafford-upon-Avon
CV37 6EJ
BANKERS
Barclays Bank plc
Market Cross
strafford-Upon-Avon
Wamickshire
CV37 8AP
Mills & Reeve
78-84 Colmore Row
Bimingham
83 2AB
Stratford-upon-Avon Town Trust is a private company limited by guarantee {company number 04222949) incorporated in
England and Wales. It is also a registered charity (charity number 1088521). The registered office is at 14 Rother Street,
Stratford-upon-Avon. CV37 6LU.
20

STRATFORD-UPON-AVON TOWN TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
Opinlon
We have audited the financial statements of Strafford-Upon-Avon Town Trust (the'parent charitable company,) and
its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the consolidated and parent
charitable company ststement of financial activities, the group and parent charitable company balance sheets, the
consolidated statement of cash flows and the notes to the financial statements, including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable law
and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the
UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements..
Give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 31
December 2024 and of the group's and parent charitable company's incoming resources and application
of resources, including its income and expenditure, for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities
Act 2011
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of
the group financial statements section of our report. We are independent of the group and parent charitable
company In accordance with the ethical requirements that are relevant to our audit of the financial statements in
the UK, including the FRC'S Ethical Standard, and we have fulfllled our other ethical responsibilities in accordance
with these requirements. We believe that the audlt evldence we have obtained is sufficient and appropriate to
provide a basi5 for our opinion.
Concluslon8 rolatlng to golng concern
In audiling the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significanl doubt on Stratford-Upon-Avon Town Trust's ability
to continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the tNstees with respect to golng concern are described in the
relevant sections of this report.
Other Infomiatlon
The other information comprises the information included in the trustees, annual report, other than the group
financial statements and our auditor's report Ihereon. The trustees are responsible for the other information
contained within the annual report. Our opinion on the group financial statements does not cover the other
information, and, except to the extent olherwise explicitly state(l in our report, we do not express any form of
assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether
the other information is materially inconsistent with the group financial statements or our knowledge obtained in the
course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material misstatement
in the group financial statements themselves. If, based on the work we have performed, we conclude that there is
a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescrlbed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit..
The informatlon given in the trustees, annual report for the financial year for which the financial statements
are prepared is consistent with the financial statements
The trustees, annual report has been prepared in accordance with applicable legal requirements
21

STRATFORD-UPON-AVON TOWN TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
Matters on which we ar• roquired to report by exception
In the light of the knowledge and understanding of the group and the parent charitable company and their
environment obtained in the course of the audit, we have not identified material misstatements in the trustees,
annual report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and
Charities Act 2011 requires us to report to you rf, in our opinion:
Adequate accounting records have not been kept by the parent charitable company. or returns adequate
for our audit have not been received from branches not visited by us., or
The parent charitable company financial statements are not in agreement with the accounting records and
returns., or
Certain discSosures of trustees, remuneration specified by law are not made,. or
We have not received all the information and explanations we require for our audit., or
The directors were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the trustees, annual report
and from the requlrement to prepare a strategic report,
Responslbllltles of trust888
As explained more fully in the statement of trustees, ￿sponsIbIlItIeS set out in the trustees, annual report, the
trustees (who are also the dlrectors of the parent charitable company for the purposes of company law) are
responsible for the preparation of the financial stalements and for being satisfied that they give a true and fair view,
and for such internal control as the trustees determine is necessary to enable the preparation of financial statements
that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group's and the parent
charilable company's ability to continue as a going concern, disclosing. as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or
the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's re8POn8ibllitie8 for the audit of thé financial statements
We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and
report in accordance with those Acts,
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, lo delect material misstatem8nts in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below,
Capability of the audit in detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-
compliance with laws and regulations. our procedures included the following:
We enquired of management, which included obtaining and reviewing 5UPPOrting documentation, concerning
the group's policies and procedures relating to=
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any
instances of non-compliance.,
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected,
or alleged fraud.,
The internal controls established to mitigate risks related to fraud or non-compliance with laws and
regulations.
We inspected the minutes of meetings of those charged with governan￿.
22

STRATFORD-UPON-AVON TOWN TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS
We obtained an understanding of the legal and regulatory framework that the group operates in. focusing on
those laws and regulations that had a material effect on the financial statements or that had a fundamental
effect on the operations of the group from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and remained alert to any
indications of non-compliance throughout the audit.
We reviewed any reports made lo regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess
compliance with applicable laws and regulations.
We performed analytical procedures to identfy any unusual or unexpected relationships that may indicate
risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of
journal entries and other adjustments, assessed whelher Ihe judgements made in making accounting
estimates are indicative of a potential bias and tested significant transactions that are unusual or those
outside the normal course of business.
Because of the inherent limitations of an audil, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial stalements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is
also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
www.frc.or
.ukJauditorsres
onsibilitie
This description forms part of our auditor's report.
Us• of our report
This report is made solely to the charitable company's members as a body. in accordance with Chapter 3 of Part
16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154
of that Act. Our audit work has been undertaken so that we might stale to the charitable company's members those
malters we are reqLJired to state to them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the
charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Fleur Holden (Senior statutory auditor)
Date: 4 June 2025
for and on behalf of Sayer Vincent LLP, Statutory Audltor
110 Golden Lane, LONDON, EC1Y OTG
Sayer Vincent LLP Is eligible to act as auditor in terms of section 1212 of the Companies Act 2006
23

u)(D￿co

STRATFORD-UPON-AVON TOWN TRUST
BALANCE SHEETS
As at 31 December 2024
Notes
Group
Town Trust
2024
2023
2024
2023
Fixed assets
Tangible fixed assets
Investments
15
16
1,495,203
60,745,334
1,533,987
57,879,856
1,495.203
3,391,425
1,533.987
2,553,106
62,240,537
59,413,843
4,886,628
4,087,093
CUr￿nt assets
Debtors: due after one year
Debtors: due within one year
Cash at bank and in hand
17
18
29,516
345,008
1,214,343
34.458
942,517
1,727,159
462,871
548,460
479,548
754.980
1,588.867
2,704,134
1,011,331
1,234,528
Current Ilabllltle8
Credltors: amounts falling due within
one year
19
(1,917.854) (1,696,045)
(915,736)
(686,805)
Net current (liabilities) l assets
(328,987)
1,008,089
95,595
547,723
Creditors: amounts falling due after
one year
20
{1,098,587) (1,114,365)
Provisions for liabilities
22
{564,216)
(791,624)
(57,000)
Total Net assets
60,248,747
58,515,943
4,925,223
4,634,816
Funds
Capital funds
Endowment Funds
Income funds
Restrlcted Funds
Unrestrlcted funds
General fund
Designated funds
Other charitable funds (College &
Guild)
24
54,863,137
53,421,390
24
24
524,738
500,000
2,781,067
1,644,156
2,953,372
1.681,444
2,781,067
1,644,156
2.953,372
1,681,444
435,649
459,737
Total funds
24
60,248,747
58,515,943
4,925,223
4,634,816
The financial statsments on pages 24 to 47 were approved by the Trustees and authorised for issue on 21 May 2025.
The notes on pages 27 to 47 fom part of these financial statements.
Tirn Bailey, Chair
Simon Littleiohns, Chair of Finan￿, Investrnent & Propety Committee
Registered company number 04222949
25

STRATFORD-UPON-AVON TOWN TRUST
CONSOLIDATED GROUP STATEMENT OF CASH FLOW
For the yaar ended 31 December 2024
2024
Total funds
2024
Total funds
2023
Total funds
2023
Total funds
Recondllatlon of net inry)me to not Gash flow from
operatlng actlvltles
Nef incon7e /(expenditure) for the reporting period (as per
Ihe statemenl of finan￿al aclivi¢ies)
Adjustments for:
Depreciation
(Gains) I losses on investments
Dividends, intsrest, and rent from investments
Decrease I Ilncrease) in debtors
(Decrease) l increase in creditors
Net cash used In oporadng actlvltles
1,732,804
947.686
45,274
(1.653.796)
(3.789.453)
602,451
48,130
(513,805)
{3,649,333)
{499,750)
13.084.097)
13,590,579)
Ca8h flow8 from investing actlvltie8'.
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Proceeds from sale of investmenis
Purchase of investments
Net cash pmvlded by inve$tin9 a¢tlvlties
3,789,453
{6,4901
4,759,108
5 942 345
3.649,333
(1,4441
2,974,282
855
2 599 726
174
Change in cash and cash equivalents in the reporting
period
Cash and cash equivalents at 31 December 2023
Cash and ca8h equlvalent8 at 31 December 2024
(484,370)
1811 355
1416,263)
222761
2024
Total funds
2023
Totsl funds
Analy81s of cash and cash equlvalents
Cash in hand and at bank
Cash awaib'ng investment"
Total cash and cash equivalents
' £85,086 (2023.. £74.621) of c8sh 8W8ilin9 investment is unavallablg forgener81 expendlture as it is an gndowedass6t.
1,214,343
1.727,159
Analysls of change In cash and cash equlval8nts
At
1 January
2024
At
31 December
2024
Ca8hflow
Cash and equlvalents
Cash
Cash awaiting deposit
1,727,159
84.196
(512,816)
28.445
1,214,343
112,641
Total
1,811,355
(484,371)
1.326,984
26

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024
SL*ament of accounting policies
Stratford-upon-Avon Town Trust is a private company limitad by guarantee incorporated in England and Wales.
The registered office is at 14 Rother Street. Stratford-upon-Avon. CV37 6LU.
Basls of preparation
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in
the UK (FRS102)- (Charities SORP {FRS 102)) and the Companies Act 2006. StratFord-upon-Avon Town
Trust meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in th8
relevant accounting policy not8.
The financial statements are prepared in Sterling which is the functional currency. Monetary amounts in th8S8
financial statements are rounded to the nearesl £.
There ar8 no mat8rlal unc8rtain118s about the Town Trusvs abillty to contlnu8 as a going conc8rn.
On 4 July 2003 th8 Charfty Comml&8lon8rs Issued a dlr8Ctlon und8r Sectlon 96(5) of th8 Charftt8s Act 1993 that
ihe following charib'es shall be treated as fomiing part of the charfty called the Stratford-upon-Avon Town Trust for
the purposes of Part Vll of the Charities Act 1993..
The Guild Estate Endowm8nt- registered number 217484.
The College Estate Endowment- registered number 217485.
A8 a consequence of ihe above direction, Group financlal statements have been prepared. The Group financial
statements consolidate those of Slr8tFord-upon-Avon Town Trust and its related charities. The intra-group
transactions are eliminated on consolidation. Balances be￿en the two entities are disclosed in the notes of the
charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the
charity itself is not presented because the cherity has taken advantag8 of the exemptions afforded by section 408
of the Companies Act 2006, A summary of the result for the year is disclosed in the notes to the accounts.
Golng concam
The trustees consider that there are no material uncertainties about the Group's ability to continue as a going
concem. The Group has access to sufficient liquid funds to mael commitrnenis as they fall due.
Charltsble Actlvltles
The Trustees consider that the Town Trust is a public benefil entity a8 It makes grants to beneficiaries within the
town of Strafford-upon-Avon. Costs of charitable activities include grants made and an apportionment of overhead
and support cosis 8s shown in note 9.
d)
Income
All incoming resources are recognised On￿ the Town Tnjst has entitlement to the resources. it is probable that the
resources will be received, and their amount can be measured with sufficient reliability. Propety and investment
Income Is recognised as il falls due.
Expendlture
Liabilities are recognised as ￿soUrceS expended or as soon as ther8 Is a18gal or constnJctiV8 obltgatlon
committing the Town Trust to the expenditure. All expenditu￿ is accounted for on an accruals basis and has been
assified under headings that aggregate all Gosts related to the Gategory.
All costs are allocated be￿een the expen(iiture categories of the Statement of Financial Activib'es on a basis
designed to reflect the use of the reSoU￿e5. Costs relating to a partbcular adivity are all¢xated dir8Ctly', oth8rs
are apportioned on an appropriate basis e.g., 8slimated usage.
Grants payable
Grants payable are grants payable to third parties in fijrtherance of the charitable objectives of the Town Trust.
Grants are accounted for when either the recipient has a reasonable expectation that they will receive a gran( or
the Trusteos have agreed to pay the grant without condiiion.
Provisions for grdnts are made when the intention to make a grant has been communicated to the recipient but
there is uncertainty about eitherthe timing of the grant or the amount of grant payable.
g)
Irrecoverable VAT
Irrecoverable VAT is charged against th8 category of resources expended for which It was incurred.
h)
Costs of raising funds
These oosts consist of inveslment and property management costs.
27

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
Statement of accounting policies (continued)
Governance costs
Governance costs comprise all costs involvlng the public accountsbility of the charity and its compliance with
regulation and good practice. These costs include costs related to statutory audit and legal fees together with
an apportionment of overhead and support costs.
i)
Investments
(i) Inveslmenis are included in the accounts at the fair value at the balan￿ sheet date.
(li) Gains and losses arising on disposal are charged to the relevant fund immediately on disposal.
k)
Tangible fixed assets and depreciation
Tangible fixed assets are slated al cost less accumulated depreciakn'on, The costs of minor additions or those
costing below £500 are not capilalised. Depreciation is provided at rates calculated to write off the cost, less
estimated residual value of each assel over its expecled useful life, as follows:
Computer equipment
over 3 yea
Office equipment
over 2 to 4 years
Play House plant and equipment
over 5 years
Play House refurbishment
over 3 to 50 years
Play House building
over 50 years
Bandstand
over 50 years
8001h Anniversary Commemorative Fountain
over 50 years
Long leasehold propety
over life of lease or break option
Land
not depreciated
Herltsge Assel
Heritage assets are defined as tangible or intangible assets with historic. artistic, scientific. technological,
geophysical or environmental qualities, which are held principally for its contribulion to knowledge and
culture. The Guild Chapel is recognised as a herilage asset by the Guild Estate as it is a unique historic
asset and Is maintained by the Guild Estate for its cultural benefit. In the opinion of the Trustees the c05t
of professionally valuing this asset to show a value in the financial statements outweighs the benefits to
the users of the financlal statements, as such no value is assigned to the Chapel In the balan￿ sheel.
The Guild Estate was assigned the Guild Chapel in 1553, it is not expected ihat any other heritage assets
will be acquired. Also Ihe Guild Estate intends to remain the custodian of the Guild Chapel in perpetuity.
Fund accountlng
(i) Permanent Endowment Funds relate to those assets which represent the pemanent capital base
of the charity and which may not be spent.
(li) Restricted funds are funds which are to be used in accordance with specific restricilons imposed.
(111) Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
(Iv) Unrestricted funds are available for use at ihe discretion of ihe Trustees in furtherance of the
general objectives of the charity.
Op•rating l•as•8
Operaling lease receipts are credited to the Statement of Flnancial Actlvlties as demanded. Operating lease
payments are charged on a straight-line basis.
Retirement benefrts
Defined benefit pension scheme contributions are charged to the Statement of Financial Activitie5 so a5 to
spread the cost of pensions over the employees, working lives with the company. The regular Cost is
attributed to the individual years using the projected unit method. Variations in cost which are identified as a
result of actuarial valuations are amortised over the average expected remaining working lives of employees
in proportion to thelr expected payroll costs.
The defined benefit pension scheme is funded with the assets held separately from the group in separate
trustee administered funds. Full actuarial valuations, by a professionally qualified actuary. are obtained at
leasl every three years. and updated to reflect current conditions at each balance sheet date. The pension
scheme assets are measured at fair value. The pension scheme liabilitie5 are measured using the projected
unit method and discounted at the current rate of return on a high quality corporate bond of equivalent term
and currency. A pension scheme asset is recognised on the balance sheet only lo the extent that the
surplus may be recovered by the reduced future contributions or to ihe extent that the Trustees have agreed
28

sTRATFOR￿uPON-AvON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
Statement of accounting policies {continued)
Retlrement benefits (cont'd)
a refund from the scheme at Ihe balance sheet date. A pension scheme liability is recognised to the
extent that the group has a legal or constructive obligation to settle the liability.
The defined benefit scheme was closed to new members as from May 2010. The Town Trust operates
a defined contribution personal pension scheme for employees who joined after May 2010.
p)
Credltors and provlslons
Creditors and provisions are recognised where the charity has a present obligation resulting from a
past event that will probably result in the transfer of funds to a third party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised
at their settlement amount after allowing for any trade discounts due.
q)
Flnandal In$trum•nts
The Town Trust has only financial assets and liabilities that would qualify as basic financial
instruments.
Basic financial assets, which include cash and debtors, are initially measured at transaction price
including transaction costs and subsequently carried at amortised cost using the effective interest
method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities such as trade creditors, loans and finance leases are initially measured at
transaction price unless the arrangement constitutes a financing transaction, where the debt
instrument is measured al the present value of the future payments discounted al the market rate of
interest. Financial liabilities classified as payable within one year are not amortised.
An equity instrument is any contract that evidences a residual interest in the assets of the Town
Trust after deducting all of its liabilities.
Judgements In applylng accountlng pollcies and key sources of estimation uncertalnty
The trustees of the charity make estimates and assumptions concerning the future. Management are
also required to exercise judgement in the process of applying the charity's accounting policies.
Estimates and judgements are continually evaluated and are based on historical experience and
other faclors, including expectations of future events that are believed to be reasonable under the
circumstances.
The estimates and assumptlons that have a significant risk of causing a material adjustment to the
carying amounts of assets and liabilities within the next financial year are addressed below.
In preparing these financlal statements, the Trustees have delegated authority to management to
make the following judgements:
Investment property valuations
As disclosed in note 16. the investment properties are valued at market value based on the rental
yields achieved for each property. Where there has been a change in the rental arrangement during
the year, the property will undergo a formal valuation at the balance sheet date. For those properties
where a formal valuation is not carried out, the trustees will assess the fair value of the assets at
each balance sheet date with changes in fair value being reflected in the Statement of Financial
Activities.
Leases
Management determines whether leases entered into by the company either as a lessor or a lessee
are operating or finan￿ leases. These decisions depend on an assessment of whether the risks and
rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis
based on an evaluation of the terms and conditions of the arrangements. and accordingly whether
the lease requires an asset and liability to be recognised in the balan￿ sheets.
29

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
Impairment of assets
Management reviews the carrying value of all other assets for indications of impairment at each
period end. If indicators of impairment exist, the carrying value of the asset is subject to further
testing to determine whether its carrying value exceeds it recoverable amount. This process will
usually involve the estimation of future cash flows which are likely to be generated by the asset.
Provlslons
A provision is recognised when the charity has a present legal or constructive obligation as a result
of a past event for which it is probable that an outflow of resources will be required to settle the
obligation and the amount can be reliably estimated. If the effect is material, provisions are
determined by discounting the expected future cash flow at a rate that reflects the time value of
money and the risks specific to the liability.
Whether a present obligation is probable or not requires judgmenl. The nature and type of risks for
these provisions differ and management'5 judgement is applied regarding the nature and extent of
obligations in deciding if an oufflow of resources is probable or not.
Crltlcal accountlng Judgements and key sources of estimation uncertainty
Sn the appllcatlon of the Town Trust's accounting policies, the Board is required to make judgements,
estimates and assumptions about the carrying amounts of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the revision
affects only that period, or in the period of the revision and future periods if the revision affects both
current and future periods.
Parent Charlty
2024
2023
Gross Income
Net movement in funds
2,154,005
290,407
2,206,869
461,011
30

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (contlnued)
Connected charities
Stratford-upon-Avon Town Trust controls the Guild Estate Endowment {charity number: 217484) and
the College Estate Endowment (charty number: 217485). All three charities have common, parallel
objects and activities and unity of administration. Set out below are the results of the Guild Estate and
College Estate:
Guild
Estate
2024
Guild
Estste
2023
Colleg8 EsL*a
2024
Collage E8L*e
2023
Total Assets
Total Liabilities
Totsl Funds
39,403,268
1377 477
38,875,640
1799 384
18.935,390
1637 657
18.356,510
1551 639
2024
2023
Gulld Estate Endowment
Income
Expenditure
Net gains on investments
2,864.710
12,864,710)
949,535
2.599,005
(2,599,149)
409.838
Net movement in funds
949,535
409,694
College Estato Endowment
Income
Expenditure
Net gains on investments
1,038,357
{1,066,2361
520,741
1,020,079
(962,7031
19,605
Net movement in fund8
492,862
76,981
Group
Donations
Total fund8
2024
Total funds
2023
Donatlons
Grants
10,636
10,825
500
10,636
11,325
Group
Investment income
Total funds
2024
Total funds
2023
Property income
Dividends receivable
Interest re￿1vable
2.704,348
1.057,578
27.527
2,670.929
978.404
3,789,453
3,649,333
31

STrATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
Group
Income from Charltable Actlvlties
Total funds
2024
Total funds
2023
Grants received
Guild Chapel
BNG - Rowley Fields
Bandstand
166.631
4.440
2.937
680
2,659
200
174,688
2.859
Group
Other Income
Total fund8
2024
Total funds
2023
Interest receivable on bank
Miscellaneous income
36,395
49,506
185
36,395
49,691
32

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sTRATFOR￿uPON-Av0N TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
Grants to
Institutlon8
2024
Grants to
Indlvlduals
2024
Support
Costs
2024
Total
Total
2024
2023
10
Grant Making Note
Discretionary Grants:
Non-discrètionary
Entitlements & Grants".
Entitlement lo King
Edward Vl School
Grant to Church Street
Almshouses
Vicar of Holy Trinity
Church
1,158,398
12,111
186,684
1.357.193
1,305,875
776.555
22,923
799,478
730.357
59,034
1,500
60,534
55,200
7,000
500
7,500
7,300
1,993,987
19,111
211,607
2,224,705
2,098.732
Grants to
In8titutions
2023
Grants to
Indlvlduals
2023
Support
Costs
2023
Total
2023
Dlscretlonary Grants:
Non-discr•tionary
Entitlements & Grants:
Entitlement to King
Edward Vl School
Grant to Church Street
Almshouses
Vicar of Holy Trinity
Church
997,804
14,726
293.345
1,305,875
726,857
3,500
730,357
54,500
700
55,200
7,000
300
7.300
1,779,161
21,726
297,845
2,098,732
2024
2023
11
Net Income l Expendlture for the year
Thls Is stated after charglng l (crediting):
Depreciation
Operating lease rentals payable.,
Property
Operating lease rentals receivable:
Propety
Auditor's remuneration
45,274
48.130
50,000
71,439
(2,153,680)
25,000
(2,111,373)
30,230
35

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
12
Employees and staff costs
Group
2024
Number
Group
2023
Number
The average he￿COUnt of employees throughout the year. calculated on a
head count basis was:
StrattordvuponAvon TO￿ Trust
Guild Estate Endowment
13.5
12.8
15.3
14.8
On a full-time equivalent basis the total was-
12.9
12.9
Group
2024
Group
2023
The cost of employing all staff was:
Salarie8 and wages
National Insurance
Defin8d contributlon p8nslon contrlbutlon
Op8ratlng cost of d8flned b8neflt penslon xhem8
434.988
35,353
18,916
74,948
397,995
25,292
19.251
72,533
564,205
515,071
In 2024 one member of staff was remunerated between £90,001 and £100,000 and one member of staff was
remunerated be￿een £60,001 and £70,000 (2023: one mernber of staff was remunerated be￿88n £80,001 and
£90,000 and one beiween £60,001 and £70,000). Total employee benefits (including pension contribution and
employerfs national insurance) for the senior management team were £378,184 {2023.' £338.933).
13
Rother Street Car Park
Income and expenditure relatlng to the Rother Street Car Park Is split 86.09 % to the Guild Estate and
13.910/0 to the College Estate in accordance with land ownership arrangements.
14
Heritage A88et
The Guild Chapel in Stratford-upon-Avon is not included in the balance sheet as it is regarded as a heritage
asset. The Guild Chapel dates from around 1269 and was the main building of the Guild of the Holy Cross.
In 1553 it was gifted to the Guild Estate. whereby the charity took over the responsibility of maintaining the
Chapel for its purposes. In 1954 the Friends of the Guild Chapel, an organisation independent of the Town
Trust, was set up. IÉ fundraises towards the maintenance of the fabric of the Chapel, including the organ,
but is not part of the Guild Estate.
The Chapel is used on a regular basis by King Edward Vl School for morning assembly, and the Friends of
the Guild Chapel attend services on Holy Cross Day (14th September), hold a Christmas carol service and
a summer service. Weekly Holy Communion ServI￿S are held at which anyone is welcome to worship.
The Chapel is opened daily for the public to visit.
In the opinion of the Trustees. the cost of professionally valuing this asset to show a value in the financial
statements outweighs the benefits to the users of the financial statements. The building and contents are
insured for £8.3m.
36

sTRATFOR￿uPON-AvON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 Decembar 2024 (continued)
Play House Play Houso
Bulldlng
Equipnent
Clore
Learning
Centre
Communlty Bandstand Computer
Hub
and
Equlpment Equlpmont
Leasehold
Fountain
Improve-
ments
Total
15 Tangible fix•d assets
Group and TO￿ Trust
Cost
1 January 2024
Addltions
1,864,372
30,000
356,444
121,077
12,832
26,872
2.411.397
6.490
0.490
31 Dgc8mb8r 2024
1,864.372
30,CM)O
358,444
6,49)
121.077
12,632
26,872
2,417,887
D¢pr•¢iatlon
1 January 2024
Charge lor the
Pgriod
682.928
37.288
30.000
64,927
3.976
62.368
2,424
10,818
913
26.369
457
877.410
45.274
216
31 Decemter 2024
720,216
30,000
68.gJ3
216
84,792
11,731
28,826
922,884
Net book values
31 December 2024
1,144,156
287.541
8.274
58,285
901
40
1,495.203
31 Decemtor 2023
1,181,444
291,517
58,709
1,814
503
1.533.987
37

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
Group
Town Trust
2024
2023
2024
2023
16 Fixéd assat invostment8
Investment properties
Quoted investments
Short term deposits
Cash awaiting investment
34,404,924
25,020,855
1.206,914
112,641
32,806,100
24,587,279
402,281
84,196
2,722,195
654,800
14,430
2.543,531
9,575
60,745,334
57,879,856
3,391,425
2,553,106
Investment prop•rtl•s:
Fair value at 1 January 2024
Additions
Net sale proceed3
Gain on dlsposal
Revaluatlon galns
32,806,100
973,824
35,306,100
{2.947,387)
447,387
625.000
Fair value at 31 December 2024
34,404,924
32,806,100
Quoted investmonts:
Fair value at 1 January 2024
Additions at cost
Sale proceeds
Investment gains l (losses)
24,587,279
4,163,888
(4,759,108)
1,028,796
21,102,182
3,445,574
(26,895)
66,418
2,543,531
2,463,740
(4,856)
183,520
(4,571)
84,362
Falr value at 31 December 2024
25,020,855
24,587,279
2,722,195
2,543,531
In accordanc8 wlth th8 Stat8m8nt of Recommended Practlce - A¢¢ountlng and Reporting by Charities (SORP 2015) th8
Investment propety portfolio was revalued at 31 December 2020 and is shown at fair value. The Town Tnjst believes this
valuation to Still be appropriate for the majority of the portfolio, as there has been no significant change in the status of these
properties or tenants nor the wid8r Gomrnerci81 propety market of Strgtford-upon- Avon. However, six properties have been
revalued as at 31 December 2024, as there was a significant change in lease arrangement for these properties during 2024.
Bolh valuations were carried out by Colliers International, Chartered SuTveyors. The valuer wa5 RICS qualified and is
experienced in both property in Stratford-upon-Avon and these classes of prop8rty.
38

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
17
D•btors: Amounts falliro due aftèr onè year:
Group
Town Trust
2024
2023
2024
2023
Prepayments and accrued income
29,516
34,458
29,516
34,458
18 Debtors: Amounts falllng due wlthin one year
Group
Town Trust
2024
2023
2024
2023
Rents
Other debtors
Amount due from Guild Estate
Amount due from College Estate
Prepayments and accrued income
158.480
36,125
270,539
33,828
15,949
3,579
380,634
21.428
44,860
405,066
25,563
45,340
150,403
638,150
345,008
942,517
462,871
479.548
Group
Town Trust
2024
2023
2024
2023
19 Creditor8: Amounts falling due within one year
Deferred income
Trade creditors
Grants payable (note 28)
Accfuals
Other creditors
Other taxation and social security
Pension
456,987
150,552
915,716
342,391
545,958
130,786
745,593
116,664
1,425
151,832
3,787
11,666
39.654
545,774
60,432
1,425
24,067
3,787
40,853
793,288
50,337
48.179
4,029
27,230
4,029
1,917.854
1.696,045
915,736
686,805
39

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
20
Credltors: Amounts falling due after one year
Group
Town Trust
2024
2024
2Q23
2023
Accruals and deferred income
1.098.587
1,114.365
21
Daferred Incomo
Deferred income r8pr8sants18ase pr8miums and rental incom8 r8ceived in advance and grant funding that relats
to afterthe period end.
Deferrnd income reconcillatlon". falllng dua within 1 year
Group
Town Trust
2024
2024
2023
2023
At 1 January 2024
Released during the year
Deferred in the current year
545,956
1555.614)
466,645
492,439
(486,5821
540,099
11,666
(11,666)
174
{1741
11,666
At 31 December 2024
456,987
545,956
11,666
Daferred income reconciliation: falling due after 1 year
Group
2024
2023
At 1 January 2024
Released during the year
Deferrad in the currant year
At 310ecember 2024
1,114,365
(15,7781
676,983
{5,8581
443 240
1,114,365
1.098,587
22
Provisions for Liabllltle8
Group
STT
2024
2023
2024
2023
Balanc8 as at 1 January 2024
Amount released in the year
Increase I Idecreasel in provision in year
791,624
{451,561)
224,153
897,828
1162,204)
56,000
57,000
Balance as at 31 December 2024
564,216
791,624
57,000
Tha provisions for liabilitl8s compris8 a provision to cover repair costs on certain void properties.
40

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
23
23a
Movement in Funds
Movement In funds {current year)
Fund Name
2024
Fund
Balanc05
31
December
2023
Income
Expenditure
Transfer
Galns and
Losses
Fund
Balances
31
December
2024
Unrestricted funds:
Designated Funds
Play House building
Community Hub ongoing cogls
Communlty Hub future prooflng
costs
Other unre8trlcted funds
1,181.444
200.000
{37.288)
1.144,156
200,000
300.000
3,413.109
300,000
3,216,716
3,843,235
(3,726,939)
(500,0001
187,311
Total Unrestricted Funds
5,094.553
3,843,235
(3,764,227)
(500,0001
187,311
4,860,872
Restrlcted Funds
Shared Prosperity Funds -
Stratford LNR
Shared Prosperity Funds - building
repalrs
BNG fund Rowley Flelds
Pension fund
Permanont andowment funds
25.000
(25,0001
140,000
{140,0001
2,937
(2,9371
24,738
24,738
500,000
54,863,137
500,000
53.421,390
1,441,747
Total Funds
58,515,943
4,011,172
(3,932,164)
1,653.796
60,248,747
23b Movement In Funds (prlor year)
Fund
Balances
31
D•cambor
2022
Income
Expgndlture
Transfor
Galn• and
Losseg
Fund
8alance•
31
Do¢gmbor
2023
Fund Name
2023
Unrgstricted fund8:
Designated Funds
Play House bulldlng
Community Hub ongoing costs
Communlty Hub future proofin9
C0515
Participatory Grant Making
Other unrestricted funds
1,218,732
100,000
100,000
137.2881
1,181.444
200,000
300.000
1QO,000
200.000
100,000
3.101.676
1100,0001
13.142,0391
3,713,208
(300,0001
40.264
3.413.109
Total Unrestrict8d Funds
Pemanent
endowment funds
4,620.408
3,713.208
13,279.3271
40,264
5.094.553
52,947.849
473,S41
53,421.3
Totsl Funds
57,568,257
3,713,208
{3,279,3271
513,805
58,515,943
Permanent endowment fvnds relate to those assets which represent the pernanent capital base of the group and which
may not be spent. The restricted funds represent the BNG funds received to 8nable the 30-year biodivorsity project at
Rowley Fields, security for the operators of the defined beneffil scheme which Town Trust is a member of and UK SPF
grants one relating to building repairs and on8 relating to volunteer project. The designated fund5 for the Play House
building are utilised by the annual depreciation charge overthe next 30 years. The designated funds for the Community
Hub will be utilised over the next 3-5 years.
41

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 {continued}
24
Analysis of group net assets between funds
24a Analysis of group net assets between funds (current year)
Unrestrlcted funds
2024
Restricted
funds
2024
Endowment
fund5
2024
Totsl
2024
Fixed assets
Fixed asset Investments
Current assets
Cu￿ent liabilities
Liabilities.. Amounts
falling due after one year
Provisions for liabilities
1.495,203
5.384,867
1.048,564
11,838,279)
{665,267)
1,495,203
60.745,334
1,588,867
(1,917,854)
11,098,587)
424,738
540,303
(6.983)
{433,3201
54,935,729
172,592)
564216
4,860,872
524,738
54,863,137
60,248.747
24b Analy818 of group net assets between funds (prlor year)
Unr•8trlcled Funds
2023
Endowment fund8
2023
Total
2023
Fixed assets
Fixed asset Investments
Current assets
Current liabilities
Liabilities: Amounts falling due
after one year
Provlslons for Ilabililies
1,533,987
3,947,182
2,704,134
(1,184,761)
11,114,365)
1,533,987
57,879,856
2,704,134
11,696,045)
11,114,365)
53,932,674
(511,2841
791624
5.094.553
791624
58,515,943
53,421,390
25
Analys15 of group funds between charitie8
Analysis of group funds between charities (currnnt year)
Guild
Endowm8nt
College
Endowment
Town
Trust
Total
Capital funds
Endowment funds
Restrlcted funds
Unre8trlcted funds
General funds
Designated funds
Other charitable funds
37.923,082
16,940,055
24.738
54.863,137
524,738
500.000
2,781,067
1,644,156
2,781,067
1,644,156
435.649
102.709
332,940
38,025.791
17.297.733
4,925,223
60,248,747
42

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the yéar ended 31 December 2024 (continued)
25
Analysis of group funds between charitie8 {continued}
Analysis of group funds between charities (prior year)
Guild Endowmenl
Collag•
Endowmgnt
Town
Trust
Total
Capltal funds
Endowrnentfunds
Unrestrlcted funds
General funds
Designaled Funds
Other charitable fund8
36,973.547
16.447,843
53,421,390
2,953,372
1,681,444
2,953,372
1,681,444
459,737
102,709
357,028
37,076,256
16,804,871
4.634,816
58,515.943
26 Trustee expenses (Group and Trust)
Expenditure reimbursed to 13 Trustees during the period amounted to £879 (2023.. £996).
27 Commltmentg
In accordance with its constitution each year the College Estale is committed to pay an annual sum, which is
currently £7k per annum, to the Vicar of Holy Trinlty Church at Stratford-upon-Avon.
In accordance with its constitution and Hlgh Court Order each year the Guild Estate is committed to paying 38Yo
of its clear annual income to King Edward Vl School at Strafford-upon-Avon. The Guild Estate must also seek to
apply 1 Ooh of Its clear annual income in furtherance of other educailonal purposes within the town of Stratford-
upon-Avon.
In accordance with its constitution each year the Guild Estate has an on-going commitment to contribute to the
Church Street Almshouses, (Municipal Charities) running costs in relation to general rates, water rates and
sewerage charges, also funds for the respective yearly amounts (recommended by the National Association of
Almshouses) to cover routine maintenance, payments to an extraordinary repair fund and a cyclical malntenance
fund.
43

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (continued)
28
Grant making
A lotal of 147 (2023.. 155> discretionary gr8nts were awarded to beneflciaries during the year, ofwhich 54 (2023:
53) were hardship grants, to individuals. which amounted to £12.111 (2023.. £14,726).
Although for accountlng purposes, grants have each been allocated lo one object, many awards do meet Iwo or
even three objects.
Dlscretionary Grants £20,000 or
greater
Group & Town Trust
2024
Beneficiary
Purpose of grant
Stratford Youth Collective"
Core costs
Play House"
Running costs & support of community events
Spring Housing A550¢iation'
Core costs for Fred Winter Centre
Citizens Advice South Warwlckshire. Core funding & management support
Safeline"
Sexual violence and its impact on males
The Parenting Project
Family Wellbeing Pathway
Shakespeare Birthplace Trust
New education centre
Strafford upon Avon School
Schools grant
The Myton Hospices
Core costs in support of the care of Stratford residents
The Shakespeare Hosplce
Core costs
Lifespace Trust
Core costs support for mentoring
Young Minds Matter
Core costs and iackling inequality in health
VASA
Core costs
New Meanlng Tralnlng Ltd
Core, capital and innovation costs
Stratford-on-Avon District Councll.
Communily Builder project continuation
Net Zero Stratford
Core costs for Climate Hub Manager
This benaficiary was In receipt of a grant awarded to support a multi-year programme.
100,000
78,125
75,000
66,000
60,000
51,384
50,000
42,806
40,500
40,000
39,830
35,000
25.000
25,000
23,000
22,925
Reconciliation of grants payable
Group
2024
Group
2023
Commitments 31 December 2023
Commitments made in the period and payable
Grants paid during the period
745,593
721,074
2,013,098
1,945,720
(1,842,975) (1,921.201)
Commitments 31 December 2024
915,716
745,593
It is anticipated that all the committed grants will be payable during 2025.

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 {continued)
29 Pensions and similar obligations
As at 31 December 2024. 2 (2023.. 2) of the Town Trust's employees were members of the Warwickshire
County Council Pension Fund.
The pensions cost is assessed every three years in accordance with the advice of the Warwickshire
County Council Pension Fund actuary. The assumptions and other data that have the most significant
effect on the determination of the contribution levels are as follows:
Latest actuarial valuation
Actuarial method
Investment returns per annum
Pension increases per annum
Salary increases per annum
Market value of assets at date of 2022 valuation
31 March 2022
Projected Unit credit method
1.70
2.7°
£2,140,000
The following information is based upon a full actuarial valualion of the Warwickshire County Councll
Pension Fund at 31 March 2022 updated to 31 December 2024 by a qualified actuary.
On 1st April 2014 the Town Trust transferred four employees, who were members of the Warwickshire
County Council Pension Scheme (Pension Scheme), to the employment of the ArtsHouse. The Pension
Scheme recognised the ArtsHouse as the new employer and admilted it as a fully funded member of the
Scheme as from 1st April 2014. Any deficit that existed as at 1 st April 2014, which was altributable to the
four employees, was assumed to remain with the Town Trust. As at 31st March 2016 all four employees
who transferred to the employment of the ArtsHouse, were no longer in the employment of the ArtsHouse.
From a pension scheme perspective, they are defined as deferred pensioners. The Town Trust, with the
agreement of the Warwickshire County Council Pension Scheme, has taken over the full ongoing deficit
relating to these former ArtsHouse employees. From an FRS17 perspective this deficit was £67,000 as at
March 2016.
Financlal assumptions
2024
2023
2022
Rate of CPI
Rate of increase in salaries
Rate of increase in pensions
Discount rate for liabilities
2.750/0
4.20/0
3.85 %
2.859/0
4.550/0
10.10/0
2.75Yo
3.050/0
4.750/0
The Town Trust's share of assets in the scheme were:
2024
£'ooo
2023
£'ooo
Equities
Bonds
Property
Cashlliquidity
1.209
716
493
49
1,148
720
360
22
Total
2,467
2.250
The actual return of the fund in 12 months to 31 December 2024 was 8.1 %.
45

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 {continued)
29
Pensions and similar obligations (continued)
2024
£'ooo
2023
£'ooo
F8ir value of assets
Liabilities
2.467
(1,479)
2.250
(1.678)
Surplus.
988
572
"As per the Town Trust's accounting policies the surplus has not been recognised on the balance sheel as the
surplus is not recoverable.
Analysls of amounts charged to the statement of
flnanclal actlvities
2024
£'ooo
2023
£'ooo
Current service cost
29
26
Operating charge
(29)
(26)
Analysls of net return on penslon assgts
Expected return on pension scheme assets
Interesl on pension liabilities
103
(76)
(71)
Net return
27
28
Actuarial gains and1088e8
Asset gain
Liability gain l (loss)
82
261
58
{117)
Net gain l (loss)
343
(59)
2024
£'ooo
572
(29)
75
27
343
2023
£'ooo
556
(26)
73
28
59
Movement in deficit during the year
Surplus at beginning of year
Current service cost
Employer contributions
Net returns on assets
Actuarial gain l (loss)
Surplus at end of year.
988
572
As per the Town Trust's accounting policies the surplus has not been recognised on the balanc8 sheet as th8
surplus is not recoverable.
46

STRATFORD-UPON-AVON TOWN TRUST
NOTES ON FINANCIAL STATEMENTS
For the year ended 31 December 2024 (contlnued)
30 Golng Concern
Given the strength of the balance sheet and availability and liquidity of unrestricted investments the Trustees
believe that It is appropriate for the accounts to be prepared on a going concern basis.
31
Lease Commitments
The future minimum lesse receipts under non-cancellable operating leases ar8,.
Group
Town Trust
2024
2023
2024
2023
Not later than 1 year
Laler than 1 year but not later than 5 years
Later than 5 years
1.975,561
4,650,052
48,452,639
1,923.358
5,726,646
48,850,063
55,078,252
56,500,067
No contingent rent was recognised as income in 2024 (2023.. £nil). The Town Trust lease5 Its property portFolio under
lease agraements to tenants Iles5885). No contingent rent is r8cognised as an assat.
The future minimum lease payments under non<ancellable operating leases are..
Group
Town TruBt
2024
2023
2024
2023
No later than 1 year
Later than 1 year but not later than 5 years
Later than 5 years
50,000
139,167
32.500
100,000
20,000
30,000
42,500
189,167
152,500
72,500
32
Related Party Transactlons
There were a number of grant beneficiary organlsatlons which recelved a grant in 2024 and either a trustee or
their spouse or a member of the senior managemenl team were a director or governor of that organisation.
However none of th8se individuals took any part in the decision making for the grant award.
Michael Rolfe'5 spouse Is a trustee of Shakespeare Hospice whlch was awarded a grant of £40,000 in 2024
(2023.. none).
Mark Tailby's spouse was a governor of Strattord upon Avon School which was awarded a grant of £42,806 in
2024 {2023: £45.347)
Sara Aspley is a trustee of Strattord Youth Collective which was awarded a grant of £100.QQO in 2024 {2023'.
£100,000).
Rebecca HaTnpson is a director of Stratford-upon-Avon Bid which was awarded a grant of £5.000 in 2024 (2023".
£nil).
47

Stratford
Town Trust
creating a vibrant and
connected community
Registered Office Address:
14 Rother Stree¢ Stratford-upon-Avon, Warwickshlre CV37 6LU
T: 01789 207111
e: admln
stratfordtowntrust.co.uk
www.stratfordtowntrust.co.uk
A company limited by guarantee, registered in England and Wales (number 04222949) and Registered Charity (numter
1088521)
Stratford-upon-Avon Town Trust is Trustee of the Guild Estate Charity (Registered Charty Number 217484)
and The College Estate Charity (Registered Charty Number 217485)