**REGISTERED CHARITY NUMBER: 1097683** ## **Report of the Trustees and** **Unaudited Financial Statements** **for the Year Ended 31 March 2024** ## **for** ## **Scorfen Charitable Trust** Grenfell James Associates Limited 13 The Courtyard Timothys Bridge Road Stratford upon Avon Warwickshire CV37 9NP **Scorfen Charitable Trust** ## **Contents of the Financial Statements for the Year Ended 31 March 2024** |||**Page**|**Page**| |---|---|---|---| |**Report of the Trustees**|1|to|6| |**Independent Examiner's Report**||7|| |**Statement of Financial Activities**||8|| |**Balance Sheet**||9|| |**Notes to the Financial Statements**|10|to|15| |**Detailed Statement of Financial Activities**||16|| **Scorfen Charitable Trust** ## **Report of the Trustees for the Year Ended 31 March 2024** The Trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** In setting the objectives and planning activities, the Trustees have given careful consideration to the guidance provided by the Charity Commission on public benefit. The objectives of the Charity are:- (a) To alleviate suffering from poor health and promote health in such ways as may be thought fit and in particular but not exclusively to promote research into the causes and treatment of Spinal Muscular Atrophy. (b) To advance the education of and to benefit the public by the promotion and encouragement of the arts (in particular by assisting young people to pursue any artistic discipline). (c) To promote the preservation and protection of the countryside for the benefit of the public and to educate the public in the same. (d) Such other exclusively charitable purposes as the Trustees in their absolute discretion think fit. Page 1 ## **Scorfen Charitable Trust** ## **Report of the Trustees for the Year Ended 31 March 2024** ## **OBJECTIVES AND ACTIVITIES** ## **Grantmaking** The charity supports charitable causes identified by the Trustees in artistic fields such as music and theatre, in the rural environment, and in health. Also, local charities are occasionally supported. Grantees are monitored on an ongoing basis against criteria set out at the time of the grants. During the period the following cognizable donations amount to £ 78,073 were agreed: |Music in Hospitals and Care (MIHC)
SMA UK
Toradze Foundation
Down Syndrome UK
Royal Opera House
The UK Sepsis Trust
The Ilmington Show
Stour Health and Wellbeing Partnership
Longborough Festival Opera
Oxford Childrens Hospital and Place2B
Chipping Campden Music Festival
Shipston Home Nursing and The Royal
Orthopaedic
Shipston Home Nursing and The Royal
Orthopaedic
Longborough Festival Opera
Stour Health and Wellbeing Partnership
Imogen Cooper Music Trust
William Harmer, pianist
Sebastian Hill, tenor
Great St Bartholomews
Medaid International
Barcheston Church
Mendelssohn on Mull
Shipston Song|£
500
2,000
8,100
15,000
5,350
500
1,250
2,000
4,850
10,000
500
1,000
523
3,500
2,500
750
750
750
4,000
10,000
750
3,000
500| |---|---| ||| |Total|78,073| The Trustees are unable to consider unsolicited appeals for funds. Page 2 **Scorfen Charitable Trust** ## **Report of the Trustees for the Year Ended 31 March 2024** ## **ACHIEVEMENT AND PERFORMANCE Charitable activities** Grants for the year 2023 / 2024 totalled £78,073. ## **Arts** There has been a particular focus on supporting organisations and individuals within the Arts sector this year. In addition to donations to organisations who have previously received support from Scorfen ie The Royal Opera House, Longborough Festival Opera, Chipping Campden Music Festival and the Mendelssohn on Mull Festival (Soundwaves), the following donations made: Toradze Foundation International Music Festival which takes place annually in Georgia; Shipston Song (annual music festival); Great St Bartholomew's Church music programme; and grants to individual musicians who performed for the Barcheston Church, Shipston on Stour. ## **Education** An additional donation was made this year to Longborough Festival Opera to specifically support their educational outreach programme, which enables primary and secondary school children to participate in opera workshops and also professional opera performances. ## **Health** Down Syndrome UK (DSUK) received the third of three payments of £15,000 this year. Down Syndrome UK has continued to increase its capacity to support families from birth and through early school years, as well as provide training for education professionals. Medaid United Kingdom (formerly United Purpose) received a £10,000 donation to support its work to provide essential healthcare where most needed internationally and this year specifically in Ukraine. A £10,000 donation was made to Oxford Children's Hospital and Place2Be in memory of Thomas Waley-Cohen. Smaller health charity donations were made to the following organisations: Music in Hospitals and Care (MIHC), The UK Sepsis Trust, Spinal Muscular Atrophy UK, Shipston Home Nursing and The Royal Orthopaedic Charity. A donation to The Ilmington Show helped enable event proceeds to go to three local health charities. Scorfen was also pleased to donate to the Stour Health and Wellbeing Partnership (SHWP) to help fund community health projects in and around Shipston on Stour. ## **Countryside** It was decided to donate £2000 to CPRE (Campaign for Rural England) in the 2024/25 year. Page 3 ## **Scorfen Charitable Trust** ## **Report of the Trustees for the Year Ended 31 March 2024** ## **FINANCIAL REVIEW** ## **Investment policy and objectives** The financial year started with a balance of £37,079 and in July 2023 a drawdown of £55,000 was made from the charity's investment fund Netwealth. The end of year balance in April 2024 was £12,710. The Trustees reviewed the investment with Netwealth at both Trustee meetings this year (22 November 2023 and 28 March 2024) and are happy with investment progress with no proposed change to investment ratio. The value of the investment portfolio as at 31 March 2024 was £1,575,816. ## **Trustees** The Trustees are all voluntary and draw no income or expenses from the charity. ## **Reserves policy** The Trustees consider that the availability of the expendable endowment fund eliminates the necessity for maintaining free reserves. However, they recognise that the fluctuations in investment income and expenditure, from year to year, may result in levels of free reserves from time to time. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Scorfen Charitable Trust is constituted under a Trust Deed dated 12 May 2003 and as a registered charity No. 1097683. Page 4 ## **Scorfen Charitable Trust** ## **Report of the Trustees for the Year Ended 31 March 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure** (a) The Trustees as the charity Trustees have control of the Trust and its property and funds. (b) The number of Trustees shall not be less than three and not more that five individuals. (c) Subject to clause (g) Andrew Stephen Bower Knight, the donor, is entitled to hold office of Trustee for life, and the other Trustees shall each hold office for the following periods: Marita Georgina Crawley five years from May 2023 Caroline Warren five years from May 2021 Caroline Warren’s trusteeship was reviewed at May 2021 Trustee meeting and a further term of 5 years was agreed from 1 May 2021 to 30 April 2026. Marita Crawley's trusteeship was reviewed at the 22nd November 2023 Trustee meeting and a further term of 5 years was agreed, effective from 12 May 2023 to 11 May 2028. (d) Future Trustees would be appointed for terms of five years by the donor during his lifetime and thereafter by resolution of trustees. (e) A retiring Trustee must sign a declaration of willingness to act as a Trustee of the Trust before he or she is eligible to vote at any meeting of the Trustees. (g) A Trustee automatically ceases to be a Trustee if she or he: (i) is disqualified under Charities Act 2011 from acting as a charity Trustee or Trustee for a charity. (ii) is incapable, whether mentally of physically, of managing his or her own affairs. (iii) resigns by written notice to the Trustee (but only if at least two Trustees will remain in office). (h) A retiring Trustee is entitled to an indemnity from the continuing Trustees at the expense of the Trust in respect of any liabilities properly incurred during his or her trusteeship. (i) A technical defect in the appointment of a Trustee which the Trustees are unaware of at the time does not invalidate decisions taken by the Trustees. The Trustees must hold at least one meeting each year. Except for the Chairman of the meeting, who has a second or casting vote, each Trustee has one vote on each issue. Except where provided in the Trust Deed, every issue may be determined by a simple majority of votes cast at the meeting. The Scorfen Trust is administered voluntarily by its Trustees who draw no income or expenses from the charity. ## **Related parties** Andrew Knight is a Founder Patron of the Spinal Muscular Atrophy Trust (SMAT) Marita Crawley is a Patron of Soundwaves and a Trustee of the Pushkin Bicentennial Trust Caroline Warren is a Trustee of The Ups of Downs and the Down Syndrome UK charities. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1097683 Page 5 ## **Scorfen Charitable Trust** ## **Report of the Trustees for the Year Ended 31 March 2024** ## **Principal address** Compton Scorpion Manor Shipston On Stour Warwickshire CV36 4PJ ## **Trustees** Mrs M G Crawley Mr A S B Knight Mrs C Warren ## **Independent Examiner** David Murphy Grenfell James Associates Limited 13 The Courtyard Timothys Bridge Road Stratford upon Avon Warwickshire CV37 9NP Approved by order of the board of trustees on 8 January 2025 and signed on its behalf by: Mr A S B Knight - Trustee Page 6 ## **Independent Examiner's Report to the Trustees of Scorfen Charitable Trust** ## **Independent examiner's report to the trustees of Scorfen Charitable Trust** I report to the charity trustees on my examination of the accounts of Scorfen Charitable Trust (the Trust) for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. David Murphy Grenfell James Associates Limited 13 The Courtyard Timothys Bridge Road Stratford upon Avon Warwickshire CV37 9NP 8 January 2025 Page 7 ## **Scorfen Charitable Trust** ## **Statement of Financial Activities for the Year Ended 31 March 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Health
Arts
Countryside
Miscellaneous
Education
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-|Endowment
fund
£
45,197
1,743
45,273
29,300
-
-
3,500
79,816
129,275
94,656
1,492,535
1,587,191|2024
Total
funds
£
45,197
1,743
45,273
29,300
-
-
3,500
79,816
129,275
94,656
1,492,535
1,587,191|2023
Total
funds
£
38,591
3,974
54,550
21,600
2,000
21,250
40,000
143,374
97,115
(7,668)
1,500,203
1,492,535| |---|---|---|---|---| The notes form part of these financial statements Page 8 ## **Scorfen Charitable Trust** ## **Balance Sheet 31 March 2024** |Notes
**FIXED ASSETS**
Investments
6
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
8
Endowment funds
**TOTAL FUNDS**|Unrestricted
fund
£
-
-
-
-
-
-|Endowment
fund
£
1,575,816
12,710
(1,335)
11,375
1,587,191
1,587,191|2024
Total
funds
£
1,575,816
12,710
(1,335)
11,375
1,587,191
1,587,191
1,587,191
1,587,191|2023
Total
funds
£
1,457,640
37,079
(2,184)
34,895
1,492,535
1,492,535
1,492,535
1,492,535| |---|---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 8 January 2025 and were signed on its behalf by: Mr A S B Knight - Trustee The notes form part of these financial statements Page 9 **Scorfen Charitable Trust** ## **Notes to the Financial Statements for the Year Ended 31 March 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 10 **Scorfen Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024** ## **2. INVESTMENT INCOME** |Other fixed asset inv - UnFII
**3.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management|2024
£
45,197
2024
£
1,296|2023
£
38,591
2023
£
1,238| |---|---|---| ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Health
Arts
Countryside
Miscellaneous
Education
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**|Unrestricted
fund
£
-
-
-
-
-
-
-
-
-
-|Endowment
fund
£
38,591
3,974
54,550
21,600
2,000
21,250
40,000
143,374
97,115
(7,668)|Total
funds
£
38,591
3,974
54,550
21,600
2,000
21,250
40,000
143,374
97,115
(7,668)| |---|---|---|---| continued... Page 11 ## **Scorfen Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024** |**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Endowment
fund
fund
£
£
**RECONCILIATION OF FUNDS**
Total funds brought forward
-
1,500,203
**TOTAL FUNDS CARRIED FORWARD**
-
1,492,535
**6.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2023
Revaluations
Reclassification/transfer
At 31 March 2024
**PROVISIONS**
At 1 April 2023 and 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023||Total
funds
£
1,500,203
1,492,535
Listed
investments
£
1,323,172
173,176
(55,000)
1,441,348
(134,468)
1,575,816
1,457,640| |---|---|---| There were no investment assets outside the UK. continued... Page 12 **Scorfen Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024** |**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**8.**
**MOVEMENT IN FUNDS**
At 1.4.23
£
**Endowment funds**
Endowment Fund
1,492,535
**TOTAL FUNDS**
1,492,535
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Endowment funds**
Endowment Fund
45,197
(79,816)
**TOTAL FUNDS**
45,197
(79,816)
**Comparatives for movement in funds**
At 1.4.22
£
**Endowment funds**
Endowment Fund
1,500,203
**TOTAL FUNDS**
1,500,203||2024
£
1,335
Net
movement
in funds
£
94,656
94,656
Gains and
losses
£
129,275
129,275
Net
movement
in funds
£
(7,668)
(7,668)|2023
£
2,184
At
31.3.24
£
1,587,191
1,587,191
Movement
in funds
£
94,656
94,656
At
31.3.23
£
1,492,535
1,492,535| |---|---|---|---| continued... Page 13 **Scorfen Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024** ## **8. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |Incoming
Resources
resources
expended
£
£
**Endowment funds**
Endowment Fund
38,591
(143,374)
**TOTAL FUNDS**
38,591
(143,374)
A current year 12 months and prior year 12 months combined position is as
At 1.4.22
£
**Endowment funds**
Endowment Fund
1,500,203
**TOTAL FUNDS**
1,500,203|Gains and
losses
£
97,115
97,115
follows:
Net
movement
in funds
£
86,988
86,988|Movement
in funds
£
(7,668)
(7,668)
At
31.3.24
£
1,587,191
1,587,191| |---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Endowment funds**
Endowment Fund
**TOTAL FUNDS**|Incoming
resources
£
83,788
83,788|Resources
expended
£
(223,190)
(223,190)|Gains and
Movement
losses
in funds
£
£
226,390
86,988
226,390
86,988| |---|---|---|---| continued... Page 14 ## **Scorfen Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024** ## **9. RELATED PARTY DISCLOSURES** Mr A S Knight, a trustee of Scorfen Charitable Trust, is a founder patron of Spinal Muscular Atrophy Trust who were granted £2,000 in the year. Mrs M G Crawley, a trustee of Scorfen Charitable Trust, is a patron of Soundwaves who were granted £3,000 in the year . Mrs C Warren, a trustee of Scorfen Charitable Trust, is a trustee of Down Syndrome UK (DSUK) who were granted £15,000. Page 15 **Scorfen Charitable Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024** |**INCOME AND ENDOWMENTS**
**Investment income**
Other fixed asset inv - UnFII
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Portfolio management
**Charitable activities**
Grants to institutions
**Support costs**
**Governance costs**
Accountancy
Total resources expended
**Net expenditure before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net income/(expenditure)**|2024
£
45,197
45,197
1,296
78,073
447
79,816
(34,619)
129,275
94,656|2023
£
38,591
38,591
1,238
139,400
2,736
143,374
(104,783)
97,115
(7,668)| |---|---|---| This page does not form part of the statutory financial statements Page 16 ## **Signature Certificate** Reference number: 3DDY3-YDRLO-TYRDU-STVNT ## **Signer** ## **Timestamp** ## **Signature** ## **Jacqueline Stiles** Email: jacqueline@comptonscorpion.co.uk Sent: Viewed: Signed: ## **Recipient Verification:** ✔ Email verified 08 Jan 2025 12:47:29 UTC 10 Jan 2025 14:33:24 UTC 10 Jan 2025 14:36:05 UTC 10 Jan 2025 14:33:24 UTC IP address: 194.32.68.48 Location: Chipping Norton, United Kingdom Document completed by all parties on: 10 Jan 2025 14:36:05 UTC Page 1 of 1 ## **Signed with PandaDoc** PandaDoc is a document workflow and certified eSignature solution trusted by 50,000+ companies worldwide.