Registered number: 04906985
Charity number: 1101626
STYLE ACRE
TRUSTEES. REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
*ADEZJYDY•
0111112024
COMPANIES HOUSE
A16
#235

STYLE ACRE
CONTENTS
Page
Reference and admlnlstratlve d•talls of the Charlty, Its Trustees and advisers
Trustees. report
Independent auditor's report on the financial statements
Consolidated statement of financial activlties
3-10
14
Consolidated balance sheet
15
Charity balance sheet
Consolidated statement of cash flows
16
17
Not¢8 to the flnanclal statements
18-43

STYLE ACRE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Mr I C Boulton
Ms L Fromings
MrsSANye
Mr N A Rawslhome
Mr K Tibbs
Mr P Townsend
Mrs R M Cox (appointed 15 June 20231
Mrs J E Marsan (appointed 30 November 20231
Mr P Brice (appointed 13 June 2024)
Each Trustee shall offer their resignats'on to the Charity on the expiry of three years from the date of last
appointment. Ms L Fromings, Mr K Tibbs and Mr P Townsend are due to retire at the next General Meeting in
accordance vith the Articles of Association. The appointment of Mrs J E Marsan and Mr P Brice will also be
approved at the next general meeting in accordance wth the Articles of Association.
Company re9lStered number
04906985
Charlty registered numbor
1101626
Registered office
1 London Street
Readin9
Berkshire
RG14PN
Company secretary
Mrs E S Vandersteen
Executlve management and advice
Chris Ingram, Chief Executlve
Rebecca Spei9ht, Operations Director (left employment 30 June 20241
Sarah Stuart, Finance Director
The Trustees have delegated day to day manageTnent of the charity to the executive directors, and take
advice from Ihem conceming the management of the charity.
The executlve directors are not directors of the company for statutory purposes.
Independent audltor
James Cwer Kreston Audit
Chartered Accountants and Statutory Auditor
Reading Bridge House
George Street
Reading
Berkshire
RG18LS
Page 1

STYLE ACRE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
{CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Bankers
National Westminster Bank PIC
PO Box 13
30 Market Place
Newbury
Berkshire
RG14 5AJ
Solicitors
Fleld Seymour Parkes
1 London Slreet
Reading
Berkshire
RGI 4PN
Investment Advisers
Sarasin & Partners LLP
Juxon House
100 St Paul's Churchyard
London
EC4M 88U
Page 2

STYLE ACRE
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees presenl their Annual Report together with the audited financial slatements of Style Acre for the
year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confirm that the Annual Report and consolidated financial
slatements of the charitable company comply wth the current statutory requirements, the requirements of the
charitable company's goveming document and the provisions of the Statement of Recommended Practice
(SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Charltable ObJectlve8
The charity's objecls are..
1. The support of person5 affected by learning disabilities and autism by such means as the trustees see fit
from time to time including but not limited to the foregoing..
a) the provision of care and assistance to such persons in their ovm homes or in sheltered or other
accommodation, in particular bul not exclusively ihose who are sick, convalescent, disabled,
handicapped or infirni.,
b) the provision of financial assistance to such persons vkno are in condition5 of financial need, hardship or
distress.
c) the support of such persons by empowering them to make choices in their style of living and to access
facilities in the comrnunily.
2. The advancement of public education by..
a) raising public awarenes5 and understanding of learning difficultiesldisability, promoting and supporting
research into the causes of learning difficultiesldisability, Iheir needs and the support of such people
and the publication ol the useful results of the same.
Charitable Activities
Style Acre supports 267 adults with leaming disabilities and aulism across Oxfordshire. People we support may
have mild, moderate or severe and profound learning disabilities. Style Acre v￿rkS c105ely with its sister charity
Acre Housing vtho provide specialised housing for some of the people supported by Style Acre.
At March 2024. 115 people were accessing support from our supported living care teams in 38 household5. In
addition, 32 people who live more independently or V•ith their family in the community were supported from their
homes by our community support team. Approximately 95% of our households have 24-hour care. People are
supported lo participate in the activities of their Choice in the community and can acces$ our day opportunities,
work programme and social enterprises.
163 people attended our day opportunits'es at March 2024. Our day opportunities include three community hubs
in Wallingford. Didcot and Banbury, a shared market garden in Wantage and a Work Pfogramme. We also
have our own 50Gial enterprises lo provide work opportunities for people we support- the Style Acre Tea Room
in 8le￿Ury, the Style Acre Charity Shop in Wallingford and Green Acre, our garden maintenance busines$. We
focus on promoting and delivering accessible wellbeing activities for the people we support and our employees
through our Ways-to-wellness project.
STRATEGIC REPORT
Achievement and perfomiance
Operating revpw
Style Acre has had a very busy and active year V￿th the people we support taking part in a wide variety of
activities, hobbies, work opportunities, outings and holidays. The people we employ have gone above and
beyond to provide supportive, creative and dynamic environments for all of the people VR support to enable
them to fulfil their potential and live the lrfe they choose.
Page 3

STYLE ACRE
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
STRATEGIC REPORT
Achievement and porfonnance
Operating reV￿W (continued)
The people we support have had the opportunity to V￿rk in fulfilling jobs, learn new skills. engage with their
natural environment and focus on their health and happiness. This has enabled people to gain the
independence. skills and connections that make for a good, purposeful life filled wtth smiles and joy. These
opportunities have been made possible through great support, our Work Programme. our Gardening Project
and our Ways-tovwellness Programme.
Our Work Programrne removes barrters to employment faced by adults vhth learning disabilitie5 by providing
employment support lo those wanting to work or volunteer. AS a result of the programme. approx. 107 of the
people we support undertake paid or voluntary placements either wthin Style Acre or with local companies. Our
garden project at Wantage Market Garden has continued to offer opportunities for 1.. 1 and group activities for
the people we support working alongside other community groups.
Our social enterprises have grown and developed during the year. Alongside the nevly refurbished Tea Room
in Blewbury, the Charity Shop in Wallingford and Green Acre, we have opened a sustainable medal making
social enterprise and an eBay business. This has increased the variety and number of placements available
allowlng more of the people we support to access the benefits work opportunities bring.
Our Ways-lo-Wellne$s project has continued to go from strength to strength during the year wlth many new
opportunities and activities being offered. We encourage the people we employ and Ihe people we support to
reflect on what wellbeing means to them, consider how they can improve their own wellbeing, set goals, tske
action, and inspire others by sharing their experiences. People we support and employ play a key role in the
project steering group to plan events and activities and by volunteering at sessions and events.
The activities offered as part of the Ways-tovwellness programme have continued to grow during the year and
include gym, karale, tennis, Zumba, accessible cooking, sensory storytelling sessions, bell boating, triathlon.
connect and create, music and dance, swimming, cycling, canoeing and a walking group.
Our Healthy Hearts programme in Banbury ha5 conlinued during the year, helpin9 people make lifestyle
improvements to 5UPPQrt their health. Our mental health programme has Continued to deliver mental health
awareness training and we now have approx. 30 Wellbeing Buddies across all of our service5 who are trained in
mental health first aid. We have also continued to work in partnerships wlh several third parties organisations to
create further opportunities to enhance heatth and happiness of the people we support.
Several fundraising events have been held during the year including a fundraising ball, Style Acre's Got Talent,
Rock-and-Roll Bingo, and our annual Sanla Dash. We have also fundraised al a number ol community events
and been supported by a number of organisalions in our community. The people we support and our supporters
took part in the Superhero Triathlon, ran the Blenheim 7K, and the Oxford Half Marathon to raise lunds for the
Charity.
Public benefit
Any adult V￿th a learning disability andlor auts'sm can be supported by Style Acre. We support adults who have
other conditions in addition to their learning disabilities, Including.. sensory impairment, dementia, and otlier
mental health issues. Access to our services is via a local authority Social worker, care manager referral, or a
direct referral from the individual or their family.
We use our Charitable funds to provide additional services, which are not otherwise publicly funded to enhance
the lives of people V￿th disabilities. These include accessible vehicles, our Work Programme, ihe Garden
Project, the Ways-to-wellness Programme, communicalion support, the provision of information techno109y
and training, friendship groups and community development.
The charity has a fully owned subsidiary. Style Acre Trading Limited, through which li Carries out a number of
Irading enterprises (social enterprises) and also delivers some of rts charitable objectives. such as work training
opportunities. The taxable profits of Style Acre Trading Limited are donated under Gift Aid to Style Acre.
In preparing these financial statements and their report, the Trustees confirm that they have had regard to the
Page 4

STYLE ACRE
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charity Commission's guidance on public benefit and that they consider that the objectives and aclivities of
Style Acre have historically and continue to fall within the scope of that guidance.
Flnanclal review
Financial perfomiance
Income has increased from £10,609,572 last year to £11,.987,934 this year which includes donations and
pledges in the year of £423,574 (2023.. £404,524).
Our Supported.Living and Day Opportunities services are funded through grants from local councils and by local
authority conlracts and direct payments. Income from these activities totalled £11,077,055 in the year {2023'.
£9,761,535). The Trustees are salisfied that our general fund, which lotals £789,678 (2023.. £932,465),. is at
level that viill sustain the charity for the foreseeable future as strong financial management is in place with
current and future funding being regularly reviewed by Trustees. Totsl reserves amount to £2,915,135 (2023..
£3,036,493).
ReseN8s policy
The charity's policy is to maintain available unrestricted funds at, or around, a level which enables the ongoing
activities of the chanty to be funded for a period of approximately Iwo months looking forward. This amounts to
£1,891,921 {2023.' £2,012,800).
In determining the level of funds required, consideration will be given to planned expenditure, the capital
expenditure programme, anticipated revenue Streams and the risks and effects of any conlingencies.
The trustees are happy that keeping two months, running costs in available reserves conlinues lo be a sensible
policy. Approximately 88.4Q/o12023'. 82.40A) of the available lunds could be fealised by cash or the liquidation of
listed investments at the year end.
The Truslees have reviewed the designations made oul of its unrestricted resenies during Ihe year.
There have been no changes in the year to the other designaled reserves. resenles continue to be in place for..
SABRe building in Banbury - future repairs and maintenance. The freehold of the SABRe building isowned
by our trading subsidiary. Style Acre Trading, who let out parts of the building. As part of their leasehold
management charge, Style Acre Trading's tenants make a payment lowards future repairs and
maintenance cost8, thich consequentially increases Style Acre Trading's iaxable profits, paid away under
Gift Aid. Style Acre Trading is therefore unable to relain the fund on their owm balance sheet. The Trustees
consider it prudent thal the sinking fund balance should be held aside Wbthin Style Acre's reserves.
Main Office and Day Opportunity Hub - a designated reserve is held for the costs associated vAth a new
main office building and day opportunity hub. The lease on our main offices and the Turnstyie day
opportunilies hub at Hoyloery Park ends in Oct 2024. Discussions continue with our landlords as well as
other opportunities investigated for the longer term. 11 is anticipated that the lease will be extended in the
short term while a new building is found and developed for Style Acre.
The lease for our current properties at Howbery Park came to. an end in October 2023 and has been
extended for the short-term vthile another building is found to meet Style Acre's future needs. The Trustees
consider it appropriate to hold a designated reserve of £600,000 {2023'. £600,000) to fund the future costs
associated with this new building.
£700,000 loan made lo Style Acre Trading for the purchase and ￿lUrbl$hrnent of the SABRe building in
Banbury. As outlined above, the Trustees and the directors of Style Acre Trading are agreed that the
intention of the payments made in 2014-15 and 2015-16 by Style Acre were as a loan rather than a gift. The
loan is repayable by Style Acre Trading to Style Acre in the event of a disposal of the building. Due to the
long tenn nature of the loan. the reserves represented by the loan debtor are effectively illiquid.
Replacement of fixed assets - The purpose of the reserve is to set aside sufficient funds for the
replacement of assets, particularly motor vehicles, as they either fail or become beyond economic repair.
Page 5

STYLE ACRE
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The balance designated of £304,743 (2023: £284,712) provides funds to Teplace assets.
Investmenl poI￿Y and objectives
The charity's investment policy is to maximise the funds available to the charity to further the aims of the charity
while limiting ihe risk-profile of the investments. It aims to invest in fund5 thal are ethically and environmentally
sound. Investment income for the year ended 31 March 2024 amounted to £43,772 (2023.. £36,302), comprising
interest and dividends receivable of £10,264 (2023.. £3,759). and £33,50812023.' £32,543) from invested funds.
The value of the fund has been increased by £50,824 (2023.. decrease £98,151) in Ihe year to 31 March 2024.
Page 6

STYLE ACRE
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
STRATEGIC REPORT
Flnanclal review
Princip81 risks and uncertainties
The Trustees consider that the principal risks and uncertainties facing the charity are..
The challenge of staff recruitmenl and retention in our local economy which is predominately an area wth
many altemative lob opportunities, low unemployment, and relatively high livin9 Costs heightened by the
current cost of living crisis;
2. Vacancies in households and the length of time it may take to identify and settle new household members.,
3. The continuing pressures on public spending, wth the local authority being unable to adequately address
the financial pressures which we face over staff costs and rising inflation.,
4. Re-assessments of service users. needs by Oxfordshire Social Services which reduce the financial support
provided for current support package.,
5. The availability of suitable affordable properties lo enable us lo deliver a hlgh quality. sustainable service.,
8. The proportion of the work we do, particularly within day opportunities, which relies on matching donation
and grant income.,
Our future plans are described below. Our strategies to manage the risks above are..
To continue to recruit and retain the best quality Staff thal we can afford, in particular using existing staff as
part of our recruitrnent effort.,
To involve all colleagues in helping to control expenditure, especially for the usage of agency staff.,
To have a clear picture of the household we are trying to establish and the needs we are seeklng to meet
when planning for new ser4ices',
Risk assessments and action plans continue managing the impact of events.
Future plans
The Trustees have reviewed their strategy during the year, and a new 3-year strategy though lo 2026 was
adopted by the Board. Details of the updated strategy have been shared with the Trustees of Acre Housing, due
to the close relatsonship both Chanties maintain and because of Acre Housing's importance as the owner of so
many of the properties Nthere we provide support.
Acre Housing's Trustees have set the provision of new supported propertie5 to be tenanted by households
supported by Style Acre alongside the development of the curreni Portfolio as their core growth for the next few
years.
Over the coming year, our mutual focus will be developlng properties currently in the portlolio to better meet the
needs of those liwng in them and consider new properties to allow current support provided to be improved.
Given the current strains on recruilment, no additional services are planned as we focus on maintaining the
quality of support provided in current seprfices. Acre Housing plans to purchase new properties to allow two
individuals that are currently supported by Style Acre in prope￿.e5 rented from two 3td party landlords to move to
Acre Housing properties that will better support their needs in the longer term.
Our soclal enterprises and day opportunities Nvill be a key focus during the coming year. We plan to look at how
we can develop our day opportunity offering and establish new social enterprises. This will increase the range
and number of work opportunities we are able to offer, allowing more of the people ￿ support to learn new
skills and benefit from the placements.
The Ways-to-wellness programme wll continue to form an integral part of Style Acre in the coming year. The
wellbeing activities. mental health training, and wellness offering already in place are planned to continue
alongside new opportunilies and activities to be added throughout the year.
Whilst the enwronmental impact of our activities is considered wdely at Style A¢re-, we plan to build on this
during the coming year through the development of an environmental policy. Our social enterprises and events
will conlinue to consider the environmenlal impacts of their activities.
The lease on our main offices and the Turnstyle day opportunities hub at Howbery Park ends in Oct 2024.
Discussions continue with our landlords as well as other opportunities investigated for the longer term. It is
Page 7

STYLE ACRE
TRUSTEES, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
anticipated that the lease V￿11 be extended in the short term while a new building 15 found and developed for
Style Acre.
Regular management sessions are held and updates provided to the TNstees to ensure thal appropriate and
timely decisions Can be made. This is especially needed in response to the current uncertain situation and
environment. Regular management repo￿.n9 and cash flow monitoring ensure that information is available to
support timely decision making.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and consts'tutes a limited company, limited by
guarantee. as defined by Ihe Companies Act.2006.
Structurn and Management
Style Acre is run by a Board of Trustees, who are responsible for the strategic direction of the charity. They
employ a Chief Executive, who. together with the Operations Director and Finance Director. is responsible for
delivering the objects of the charity.
New Trustees are appointed by the Board and all Trustees must be at least 18 years of age and capable of
managing his or her own affairs. Each Trustee shall offer hls or her resignats'on to the charity on the expiry of
three yearg from the date of their appointment stats'ng that he or she Y￿she5 to retire or continue for a further
period of 3 years. All Trustees are required to have a Disclosure and Barring Service (DBS) check and a
protection of vulnerable adults Check on appointment and Ihen every 3 years.
The Trustees have a wide range of skills pertinent to the charity. In addition, Trustees are assigned as Board
"Leads. on specific issues (such as safeguarding) to ensure adequate Board over-sight on these critical issues.
This also allow￿ for Goaching and mentoring support to managers. Trustees are able to enhance their
knovAedge of the charity through this front-line experience.
All Trustees give thelr time voluntarily and expenses may be paid. No expenses were paid during ihe year
ended 31 March 2024 {2023'. £nil).
The Board meets on a regular basis, currently four times annually wth a separate strategic review meeting. At
each regular meeting, the Chief Executi've presents to the Board an overall report on our work. The Board also
receives management accounts and analysis from the Finance Director to enable them to monitor our financial
position. Reports from the Operations Director, covering operational performance and information concerning
Ihe people we support, and ffom the Chalr of Trustees, covering governance, are also provided to these
meetings. This enables the Board to ensure they are fully briefed on issues relating directly to our service users.
The Board also approve the charty's annual financial budget in advance ol each financial year.
The Board of Tru5tee5 review annually the Articles of Association and our aims and objectives. We assess our
effectiveness and achievements through an annual appraisal process vthich informs our decisions on which
activities must continue and what else we could do to enhance the lives of people V￿ support. The Chief
Execulive and the Board review the benefits thal our activits'es have brought to the people we support and this
helps us to Stay focused on our key objectives.
The charty normally operates ￿1th1n a 5-year strategic plan, which ensures all our activitses reflect the charity's
objects and progress can be effectively monitored and evaluated. Because of the current uncertainties in the
external environment, the Board has decided that the currenl strategy viill only cover a 3-year (2023-26) period.
Page 8

STYLE ACRE
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of trustees
All trustees are encouraged to undertake ongoin9 training as appropriate.
New Trustees are given a job description, an induction into the working of the charty and provided with training
if required. Trustees are encouraged to get to know the people we support and our staff.
Rlsk management
The Trustees have a duty to idenbfy and review the risks to ￿lch the charity is exposed and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error.
The Chief Execulive is responsible for undertaking an annual risk assessment of the charity and for drawng up
risk management plan for the Board's review and approval. Wherever possible. appropriate controls and
procedures are put in place to mitigate the risks.
The charity also employs the services of a Health and Safety and Human Resources consultancy in order to
ensure our compliance ￿1th applicable legislation, lo mainlain awareness of best practice and to protect the
wellbeing of ils employees. volunteers and the people we support.
Page 9

STYLE ACRE
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for
preparing the Trustees, report including the Strategic report and the financial statements in accordance V￿th
applicable law and United Kingdom Accounting Standards (United ￿'ngdorn Generally Accepted Accounting
Practice).
Company law requires the Trustees to prepare financial statements for each financial period. Under company
law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and
fair view of the slate of affairs of the Group and the Charity and of their incoming resources and application of
resources. including their income and expenditure, for that period. In preparing these financial statements, the
Trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the method5 and principles of the Charities SORP IFRS 102),
make judgements and accounting estimates that are reasonable and prudent.,
state vthether applicable UK Accounting Standards {FRS 102) have been foll0v￿d, subject to any rnaterial
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company wll continue in business.
The Trustees are responsible for keeping adequale accountin9 records that are sufficient to show and explain
the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial
position of the Group and the Charity and enable them to ensure that the financial statements comply with the
Companies Act.2006. They are also responsible for safeguarding the assets of Ihe Group and the Charity and
hence for taking reasonable steps for the prevention and detection of fraud and other I￿egUlar1ties.
Disclosur• of Infomiatlon to audltor
Each of the persons are Trustees at the tirne when this Trustees, report is approved has confirmed that..
$0 far as thal Truslee is aware, there is no relevant audit information of vthiGh the charitable group's auditor
is unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any
relevant audit information and to establish that the charitable group's auditor is aware of that information
Audilor
In accordance wth the Companies Act 2006, a resolution proposing the appointment of James C¢)voer Kreslon
was submitted lo Tru3tee$ at the Annual General Meeting on 22nd September 2022 and was carried
unanimously.
James Cowper Kreston Audit. will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approv
order of the members of the board ol Trustees and signed on their behalf by..
Mr I C Boulton
Trustee
Date..
Mr N A Rawsthorne
Iqfq /£L
Page 10

STYLE ACRE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STYLE ACRE
Opinion
We have audited the financial statements of Style Acre {the 'parent charitable company'> and its subsidiaries
(the 'group') for the year ended 31 March 2024 which comprise the Con501idated ststement of financial
activities, the Consolidated balance sheet, the Charity balance sheel, Ihe Consolidated slatement of cash flov
and the related notes, 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
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol
Ireland, {Unlted Kingdom Generally Accepted Accounting Practs'ce),
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
March 2024 and of the Group's incoming resources and application of resources, including it5 income
and expenditure for the year then ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance wlth the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing {UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance wilh the
ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including
the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance wlh Ihese requirements. We believe Ihal the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Concluslons relallng to golng concern
In auditing 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 significant doubt on the Group's or the parent charitable
company's ability to continue as a going concern for a period of at least fftlve Months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees wih respect to going concem are described in the
relevant Sections of this report.
Page11

STYLE ACRE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STYLE ACRE {CONTINUED)
Other infomiation
The other information comprises the information included in the Annual report other than the financial
statements and our Auditor's report thereon. The Trustees are responsible for the other information contained
within the Annual report. Our opinion on the financial statements does not cover the other informats'on and.
except to the extent otherNise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibilty is to read the other infomiation and, in doing so, consider whether the
other information is materially inconsistent wth the financial statements or our knowledge obtained in the course
of the audit. or other¥Mse appears to be materially misstated. If we identity such material inconsistencies or
apparent material misstatements, we are required lo detemine whether this gives rise to a malerial
misstatement in the financial statements themselves. If, based on the work we have performed, conclude
that there is a material mlsslatemenl of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinlon on other matters proscribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit..
the information given in the Trustees, Report including the Strategic Report for the financial year for wfiich
the financial slatemenls are prepared is consistent with the financial statements.
the Trustees, Report and the Strategic Report have been wepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of our kn￿edge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, Report including the Stralegic
Report.
We have nothing to report in respect of the lollowng matters in relation to whlch Companies Act 2006 requires
us lo report to you if, in our opinion..
the parent charitable company has not kept adequate and sufficient accounting records, 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 accounling records and
returns., or
certain disclosures of Trustees, remuneration specified by law are not made; or
we have not received all the informalion and explanations we require lor our audit.
Responsibilities of trustees
As explained more fully in the Tru5tees' responsibilits'es statement, the Trustees (who are also the directors of
the charitable company for the purposes of ¢ompany law) are Te5ponsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees detemiine is necessary to enable the preparation of financial statements that are free from material
misstatement, vthelher due to fraud or error.
In preparing the financial statements. the Trustees are responsible for assessing the GfOUP'S and the parent
charitable 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 Twstees eithér intend to liquidate the
Group or the parent charitable company or to cease operations. or have no realistic altemative but to do so.
Page 12

STYLE ACRE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF STYLE ACRE ICONTINUED)
Audito￿5 responslbillties for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are Iree
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) wll always detect a material misstatement when il 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.
Because of the inherent limitations of an audit, there is a risk that. we V¥ill not delect all irregularities, including
those leadin9 to a material misstatement in the financial statements or non-compliance vthlh regulation. This risk
increases the rnore that compliance with a law or regulation is removed from the events and transaction5
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.
The specific Pfocedures for this engagement thal vle designed and perfonned to detect material misstatements
in respect of irregularilies, including fraud, were as follows..
Enquiry of management and those charged vith governance around actual and potential litigation and
claims;
Enquiry of management and those charged with governance to identify any material instances of non-
compliance ￿th laws and regulations.,
Reviewng financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulalions.
Performing audit work to address the risk of irregularities due to management override of controls,
including lestsng of journal enlries and other adjustsnenls for appropriateness, evaluating the business
rationale of significant transactions outside the normal course of business and revieNMng accounting
estimates for evidence of bias,
A further descnption of our responsibilities for the audit of the financial statements Is located on the Financial
Reporting Council's website at.. vMw.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditor's report.
Usfr of our report
This report is made solely to the charitable company's members, as a body, in accordance Viith Chapter 3 of
Part 16 of Ihe Companies Act 2006. Our audit V￿rk has been undertaken so that we might stale to the
charitable company's members Ihose matters we are required to stale to them in an Auditols report and for no
other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other
than Ihe charitable company and rts members, as a body, for our audit work, for this report, or for the opinions
we have formed.
Darren O'connor 8Sc (Hons) FCCA ACA (Senlor statutory auditor)
for and on behalf of
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditor
Reading Bridge House
George Street
Reading
Berkshire
RG18LS
Date..
Page13

STYLE ACRE
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Investments
Other income
158,485
265,089
11,077,055
43,772
443,533
423,574
11,077,055
43,772
443,533
404.524
9,761.535
36,302
407,211
Total income
158,485
11,829,449
11,987,934
10,609,572
Expendlture on:
Raising funds
Charitable activities
81,578
11,874,075
81,S78
12.078.538
63,S66
10,735,873
204,463
Total expenditure
204,463
11,955,663
12,160,116
10,799,439
Net expenditure before net
gainslllossesl on investments
Nei gainsl(losses) on investments
145,978)
1126,204)
50,824
1172,182)
50,824
(189,867)
(98,151)
Not expenditure before taxatlon
Taxation
145,978)
175,380
(121,358)
(288,018)
(358>
Net expendltur• after taxatlon
Transfers between funds
146,978)
12,817)
175,3801
2,817
(121,368)
(288,376)
16
Net movement in funds
(48,795)
172,563)
(121,358)
(288,376)
Reconciliatlon of funds:
Total funds brought forward
Net movement in funds
2S6,271
(48,795)
2,780,222
(72,S63)
3.036,493
(121,368)
3,324.869
(288.376)
Total funds carried forward
207,476
2,707,659
2,915,135
3,036,493
The Consolidated Slatement of Financial Acb'vities includes all gains and losses recognised in the year.
The noles on pages 18 to 43 form part of these financial statements.
Page 14

STYLE ACRE
REGISTERED NUMBER: 04906985
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
12
13
1,874,972
1.055,722
1,759,049
1,004,898
2.930,694
2,763,947
Current a$gets
Debtors
Cash at bank and in hand
14
348,889
61 S,903
450,735
652.602
964,792
1,103.337
Creditors.. amounts falling due wthin one
year
15
(980,351)
{830,791)
Net current liabilities l assets
(15,559
272,546
Total as$•ts1••8 Current Ilabilitieg
2,915,135
3,036,493
Total net assets
2,915,135
3,036,493
Charity funds
RestTlCted funds
Unrestricted funds
16
207,476
2,707,659
256,271
2,780,222
16
Total funds
2.915,135
3,036,493
The Trustees acknowledge Iheir responsibilitie5 for complying wth the requirements of Ihe Act with respect lo
accounting records and preparalon of financial statements.
The finan
statemenls were approved and authorised for issue by the Trustees and signed on their behalf by..
Mr I C Boufton
Trustee
Date..
Mr N A Rawsthorne
Trustee
Iq /q Iz(t
The notes an pages 18 to 43 fomi part of these financial statements.
Page 15

STYLE ACRE
REGISTERED NUMBER: 04906985
CHARITY BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assels
Investments
12
13
394,667
1,455,724
392,984
1,404,900
1.850.391
1,797.884
Current assets
Debtors
Cash at bank and in hand
14
1,452,537
563,920
1,503,613
494,944
2,016.457
1,998,557
Creditors.. amounts fallin9 due within one
year
15
1930.047
(791,749)
Net current assets
1,086,410
1,206,808
Total 8$gets le$• Cufrent Ilabllltles
2,936,801
3,004,692
Total net assets
2,936,801
3,004.692
Charity funds
Restricted funds
Unrestricted funds
16
16
207,476
2,729,325
256,271
2,748,421
Total funds
2,936,801
3,004.692
The Trustees ackno%*ledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The fina
I slatements Y￿re approved and authorised for issue by the Trustees and signed on their behalf by=
Mr I C Boulton
Truslee
Date..
Mr N A Rawsthom•
Trustee
The notes on pages 18 to 43 form part of these financial 5tatement5.
Page 16

STYLE ACRE
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Note
Cagh flows from operallng actlvltles
Net cash generated from operating activities
20
148,546
1481,553)
Cash flows from investing activities
Dividends, interests and rents from investrnents
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assels
43.772
6,528
1222,295)
36,302
6,800
(97,075)
Net cash used In Investing actlvltles
(171,995)
153,973)
Cash flow8 Irom financlng actlvltles
Bank charges paid
(13,250)
(12.802)
Net cash used in financing activities
{13.250)
(12,802)
Change In cash and Cagh equlvalents In the y•ar
Cash and cash equivalents at the beginning of the year
{36,699) 1548,328)
652,602
1,20D,930
Cash and cagh •quivalents at the end of the year
21
615,903
652,602
The notes on pages 18 to 43 form part of these financial statement5
Page 17

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Pracb'ce applicable to charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Ad 2006.
Stye Acre meets the definits'on of a public benefit entity under FRS 102. Assets and liabililies are
initially recogni5ed at historical cost or transaction value unless otherb*ise Stated In the relevant
accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance Sheet
consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the
subsidiary are consolidated on a line by line basis.
The Charity has taken advantage of the exemption allowed under seclion 408 of the Companies Act
2006 and has not presenled its own Statement of financial activities in these financial statements.
1.2 Incom•
All income is recognised once the Charity has entidement to the income, it Is probable that the
income will be received and the amount of income receivable can be measured reliably.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic
benefit to a third party, 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 classified by
aclivity. The costs of each activity are made up of the total of direct costs and shared costs,
including support cosls involved in undertaking each activity. Direct costs attributable lo a single
activity are allocated directly to that activity. Shared costs thieh contribute to rnore than one activity
and support costs ￿leh are not attributable to a single activity are apportioned be￿een those
activities on a basis consistent wlh the use of resources. Central stsff costs are allocated on the
basis of lime spent, and depreciation charges allocated on the portion of the asset's use,
Expenditure on raisin9 funds includes all expenditure incurred by the Group to raise funds for its
hantable purposes and includes costs of all fundraising activities events. Expenditure on charitable
activities is incurred on directly undertaking Ihe acts'vities vthich further the Group's objectives, as
well as any associated support costs. All expenditure is inclusive of irrecoverable VAT.
Expenditure on charitsble activities is incurred on directly undertaking the activities vthich further the
Group's objectives, as vrfell as any associated support costs.
1.4 Taxation
The Charity is considered to pass the tesls set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
AcGordingly, Ihe Charity is polentialty exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to ihe extent Ihal such income or gain5 are
applied exclusively to charitable purposes.
Page18

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continuedl
1.5 Tangible fixed assets and depreclatlon
Tangible fixed assets are initially recognised al cost. After recognition. under the c05t model,
tangible fixed assets are measured al cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into rt$ intended working
condib'on should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provlded on the followng bases..
Long-term leasehold propety
Short-term leasehold property
Motor vehicles
Fixtures and fittings
Computer equipment
over the period of Ihe lease
1 Ooh straight line
200h on reducing balance
at varying rates on cosl
25% on reducing balance
Depreuation has not been provided in respect of freehold property vthich is held within Style Acre
Trading Limited (subsidiary cornpany). The Group adopts a policy of fully maintaining its buildings
and as such the residual value is so high and the expected useful life is so lon9, that the
depreciation charge w￿uld be immaterial both in terms of the depreciation charged for the year and
the cumulallve charge to the balance sheet.
The buildings are revIev￿d annually for any signs ol impairment by the trustees.
Items included in fixed assets are capitalised vthere the purchase cost exceeds £1,000, %there Ihe
expenditure is deemed to add to the market value of the property.
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet dale, unless Ihe
value cannot be measured reliably in ￿lett case it is measured al cost less impairment. Investment
gains and losses, vA)ether realised or unrealised. are combined and presented as 'Gainsl(Losses)
on investments, in the Consolidated statement ol financial aclivities.
Investments in subsidiaries are valued at cost les5 provision for impairment.
1.7 Cash al bank and in hand
Cash at bank and in hand includes cash only.
1.8 Liabilities and provisions
Liabilities are recognised vthen there is an obligation al the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
1.9 Financial Instruments
The Group only has financial assets and financial liabilities of a kind that qualrfy as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value.
Page 19

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies Icontirbued)
1.10 Operating leases
Rentals paid under operating leases are charged to the Consolidated statement of financial activities
on a straight line basis over the lease terni.
1.11 P•n$lon$
The Group operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Group to the fund in respecl of the year.
1.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion ol the Trustees in
furtherance of the general oblectlves of the Group and ￿thIch have not been designated for other
purposes.
Designated funds comprise unrestricted fvnds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fvnd 15 set out in the notes to the financial
statements.
Restrlcted lunds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Group for particular purposes. The costs of raising and
adminislering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are alb¢ated to the appropriate fund.
1.13 In klnd fundlng and support
The Charity benefrts from the services of volunteers vtho spend many hours managing the charity.
the trustees are of the opinion that the volunteers, seplices are not reasonably quantifiable or
measurable and thérefore no cost is represented in the financial statements.
Crltlcal accountlng •stlmate8 and areas of Judgment
Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectstions of future events that are believed to be reasonable under the
circumstances.
Critical accounting eslimates and assumptions-
In the application of Ihe Charity's accounting policies, the Trustees are required to make judgments,
estimates and assumptions about the carrying amount of assets and liabilities not Teadily 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 Charity makes estimates and assumptions concerning the future. The resulting accounting estimates
and assumptions will. by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adiuslmenl to the carrying amounts of
assets and liabilities within the next financial year are discussed below.
The most significant estimates and assumptions which affect the carying amount of each assets and
liabilities in the accounts relates to depreciation which is covered in note 1.5.
Page 20

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donatlons and grants
Other donations
Sensory and rebound therapy
SODC T2 Funding
Work Development
Garden projects
Supported Living
Social Enterprises
Day Opportunities - General
Olher Coronavirus grants
Ways to Wellness
Vehicle appeal
265.089
265,089
253,603
34,799
63,333
4,600
63,333
4,600
53,750
27,314
7,450
5,220
4.909
1,950
15,529
32,644
1,191
32,644
1.191
15,717
41,000
15,717
41,000
Total Donations and Grants
158,485
265,089
423,574
404,524
Total 2024
158,485
265,089
423,574
404,524
Total 2023
164,471
240.053
404,524
Income from charltable activiti88
Unrestricted
funds
2024
Total
funds
2024
Tntal
funds
2023
Support fees
Opportunities income
9,243,481
1,833,574
9.243,481
1,833,574
8,075,498
1,686,037
11,077,055 11,077,055
9,761,535
Totsl 2023
9,761,535
9.761,535
Page 21

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
fund$
2023
Dividends from fixed asset investmenls
Bank Interest receivable
33.508
10,264
33,508
10,264
32,543
3,759
43,772
43.772
36,302
Total 2023
36,302
36,302
Other Incomlng rosourc••
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Other income
Trading income
114,266
329,267
114.266
329,267
67,332
339,879
Total 2024
443,533
443,533
407,211
In 2023 total income of £407,211 vms unrestricted.
Page 22

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 MARCH 2024
Expenditure on raising funds
Raising funds
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
General expenses
Slaff costs
24,254
57,324
24,254
57,324
9,783
53,783
81,578
81.578
63,566
Total 2023
63,566
63.566
Analysis of expenditure on charitable aclivities
Summary by fund typ•
Restrlcled Unrestrlcted
funds
funds
2024
2024
Tolal
2024
Total
2023
Support
Opportunities
146,733
57,730
9.277,824
2.596,251
9,424,557
2,653,981
8,404,488
2,331,385
Total 2024
204,463 11.874,075 12,078,538 10.735,873
In 2023 totsl expenditure of £178,689 vms restricted and £10,557.184 was unrestricted.
Page 23

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities
Governanc•
costs
2024
Total
fund¥
2024
Total
funds
2023
Dlrnct costs
2024
Support
Opportunities
9,413,750
2,644,572
10,807
9,409
9,424,557
2,653,981
8,404,488
2,331.385
Total 2024
12,058,322
20,216 12,078,538 10,735,873
Total 2023
10,704.426
31,447 10,735,873
Analysis of direct costs
Total
funds
2024
Total
funds
2023
Support Opportunlties
2024
2024
Staff costs
Depreciation
Premises
Computer costs
Miscellaneous motor expenses
General expenses
(Gain)Iloss on disposal of tangible fixed assets
Bank charges
Purchases
8,687,313
37,503
101,766
111,320
52,938
405,135
12,450
5,325
1,913,012 10,600,325
46,777
84,280
270,112
371,878
27,830
139.150
119,655
172,593
185,326
590,461
3,112
15,562
7,925
13,250
70,823
70,823
9,289.465
72.437
357,494
106,185
161,024
627,694
3,524
12,802
73,801
Total 2024
9,413,750
2,644,572 12,058,322 10,704.426
Total 2023
8,385,510
2,318,916 10,704,426
Page 24

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities (contlnued)
Analysis of support cost•
Total
funds
2024
Totsl
funds
2023
Support Opportunities
2024
2024
Professional lees
Auditors remuneration
Auditors remuneration - non audit fees
14,427
16,470
550
10,807
8,839
570
19,646
570
Total 2024
10,807.
9,409
20,216
31,447
Total 2023
27,603
3,844
31,447
10. Staff costs
Group
2024
Group
2023
Charity
2024
Charity
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
9,707,739
680,135
8,516,241
596,166
9,523,564
673,733
8,359,085
587,347
269,775
230,841
265,690
226,849
10,657,649
9,343,248 10,462,987
9,173,281
The average number of persons employed by the Charity during the year VRS as follow￿..
Group
2024
Group
2023
Charlty
2024
Charity
2023
Administration
Support
Opportunities
Trading
30
261
29
235
78
28
30
261
76
29
235
78
29
396
370
367
342
Page 25

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10.
Staff costs Icontinuedl
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
Group
2024
Group
2023
No.
In the band £60,001- £70,000
In the band £80,001- £90,000
In the band £90,001- £100,000
In the band £110.001- £120.000
In the band £120,001- £130,000
Agency cosls for providing temporary staff during the year amounted to £1,442,207 {2023'. £1,868,225).
Remuneration totalling £278,461 (2023.. £260,562) was paid to key management personnel during the
year ended 31 March 2024.
11. Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NIL).
Page 26

JTYLE ACRE
NOTES TO THE FINANCIAL STATEIAENTS
FOR THE YEAR EWOED 31 MARCH 2024
12. T•nglbl• Ilx•d ¥•Mts
Group
Long-t•rm
leaffsohold
prop•rty
Short-t•mi
18888hold
prop•rty
Fr••hold
prop•rty
Motor Flx¢ur•• •nd
¥•hl¢l
ttlng•
Comput•r
•wlpm•nt
r¢)t•l
Co•t or v•luatlon
At 1 April 2023
Additions
Di5P05als
1,381,6J8
5,Q22
1S7,884
80,774
103,926
603,806
104,639
146,1801
171.J77
8,709
126,0871
67.694
2.343,170
222,295
178,2641
15.6171
At 31 March 2024
1,360,650
157.084
184.899
501.504
154.199
02.177
2,487,201
D•pr•clatlon
At 1 April 2023
Chorge lor the year
On dlapo8al8
74,194
15,708
80.774
3,464
212.606
51,949
126,4401
17.007
10,925
126,6061
Sil.700
2,IS6
16,2291
514.121
14.282
156,1741
At 31 Mar£h 2024
90,882
84,238
309,175
72,427
$5.707
812,229
N•t I￿0k valu•
At 31 M•rch 2024
1,386,668
67,202
100,461
262,409
81,772
6,470
1,874,972
At 31 March 2023
1,361.630
82,990
221.139
84.370
8.914
1.759.049
Page 27

STYLE ACRE
IIOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 31 MARCH 2024
12.
Tanglbl• fix•d ••••t• l¢ontlnu•dl
Chaflty
Long.t•rm
l•*••hold
prop•rty
Motor Flxtui•• Ind
v•hl¢l••
Comput•r
•qulpm•nt
Totsl
Co•t or ¥4lu4tlon
Al 1 April 2023
Addition•
Dl$posAI8
157,184
603,806
92,4J9
146,8601
144,130
1,709
126,8171
172,138
101,140
178,2141
IS,8171
Al 31 M•r¢h 2024
157.084
549.514
127,652
80,102
896,022
D•pr•sl•llon
At 1 April 2023
Charge lor th¥ y••r
On diipo1•11
74.194
10,708
282.661
49,712
125.4401
64.612
9,780
125,5051
479,114
77.JYS
156,1741
15,2291
At 31 Mareh 2024
90,882
JO8,938
48,895
53,840
500,355
N•t book v•lu•
Al 31 March 2024
67,202
242,446
78,757
6,263
394,167
At 31 March 2023
82,990
221,139
80,218
8,e37
392,984
Page 26

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12. Tangible fixed assets (continued)
Group
Freehold property relates lo Ihe Banbury Support Hub (SABRe). The Directors have considered the
basis on which the SABRe building at Butchers Row should be accounted for under FRS 102. Having
review￿d the rental income paid by the tenanls in the building, the Directors have concluded that the
building is held for the provision of social benefit and that it qualifies as Property, Plant and Equipment
rather than as an Investment Property,, accordingly the building's carrying value is stated at historic cost.
13.
Flxed a$$ot Investments
Llsted
Investments
Group
Cost or valuatlon
At 1 April 2023
Revaluations
1,004,898
50,824
At 31 March 2024
1,055,722
Net book value
At 31 March 2024
1,055,722
At 31 March 2023
1,004,898
The cosl of115ted investmenls is £976,367 {2023.' £976,367).
Investments
in
subsldlary
Listed
companies investments
Total
Charlty
Cost or valuatlon
At 1 April 2023
Revalualions
400.002
1.004,898
50,824
1,404,900
50,824
At 31 March 2024
400,002
1,OSS,722
1,455,724
Net book value
At 31 March 2024
400,002
1,055,722
1,4S5.724
At 31 March 2023
400,002
1,004,898
1,404,900
Page 29

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Principal subsidiaries
The following was a subsidiary undertaking of the Charty:
Name
Company
number
Registered office or principal Principal a¢tlvity
place of business
Slyle Acre Trading Lirnited
07437203
1 London Street, Reading,
Berkshire. RG14PN
Landlord sen4ices,
operalion of a charity
shop and tea room
Class of
8harns
Holding
Included in
consolidation
Ordinary
100% Yes
The financial results of the subsidiary for the year Y￿re-
Name
Incom•
Expendlture
Profitl(Loss)
I Surplusl
(Deficltl lor
the year
Style Acre Trading Limited
382,083
(403,749)
(21,6661
14. Debtors
Group
2024
Group
2023
Charlty
2024
Charity
2023
Due after more than one year
Amounts owed by group undertakings
700,000
700,000
700.000
700,000
Due within one yoar
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
190,338
231,091
188,385
414.858
57,093
92,201
230,583
365,840
101,352
105,838
62,149
96,402
104,012
115,632
348,889
450,735
1,452,537
1,503,613
Page 30

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14.
Debtorg Icontlnued)
The amounts owed by group undertakings falling due after more than one year comprise and amount of
£700,000 paid by the Gharity to its wholly owned trading subsidiary, Style Acre Trading Limited, for the
purpose of purchasing and refurbishing the SABRe building at Butcher's Row in Banbury. The project
was carried out by Style Acre Trading Limited, as this vms more tax efficient than the charity doing SO
itself.
The building is in active use and contributes to delivering our charitable objectives in the Banbury area.
The amounts paid lo Style Acre Trading Limited to finance the project are a loan, which will be repayable
to the charity in the event of the SABRe building being disposed of or if it ceases to be used to further the
charitable objectives of the charity.
The Trustees have provided the Directors of Style Acre Trading Limited bmlh a commitment thal the
charity V•ill meet the continuing operating costs of the subsidiary for a period of at least 12 months from
the date of signing the financial statements, and will ensure that its liabilities and obligations to all parties
outside of the group will continue to be mel as they fall due.
The Irustees have considered wthether the loan lalls under the definition of a financlng Iransaction under
FRS 102. Under FRS 102, such a transaction should be stated at its present value, measured by any
future payment discounted at a market rate of interest. There are no clear repayment terms or timescale
for the loan: the trigger for repayment is Tegarded as remote given the importance of the building to
expanding the support we offer in 8anbury. Accordingly, the Trustees are of the opinion that the fair value
of the loan amount to be included in the financial statements is its original monetary value.
Page 31

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
15. Creditors: Amounts falling due wilhin ono year
Group
2024
Group
2023
Charfty
2024
Charity
2023
Trade creditors
Corporation tax
Other taxation and social security
Other creditors
Accruals and deferred income
198,470
189,445
306
184,562
178,446
177,406
37.874
566,601
141,575
32,637
466,828
165,836
37.874
$41,77S
132,426
32,637
448,240
980,351
830,791
930,047
791,749
Page 32

STYLE ACRE
NOTES TO THE FIMANCIAL ST ATEMENTS
FOR THE YEAR eNDeD 31 MARCH 2024
16, Stst•m•nt offundi
St*¢•m•nt ollundi- curr•nt ymr
8•linc• •t
31 March
2024
Trnn•f•r8
Inlout
Giln•l
Aprll 2023
Incom• Expendltur•
Unrestilctsd fvn
D•8lgn•t•d fund
D¢slgnated revaluation fund
SABRe slnking fund
Holid•y hom¢
SABRe bullding loan
Fixed a$sei$ repla¢tment
Main Offi0• •nd O•y Opportunlty Hub
27,2•7
93.780
139.960
700.000
284,712
600,000
60,124
78,121
97,657
137,410
700,000
304,743
600,000
1,877
12,6081
20,031
1,147,757
19.400
50,824
1,917,981
O•n•ral fund
G¢ner•l fund
932,465 11,829,449 111,9SS,6631
116,6831
789,678
Tot•1 unr••trl¢tsd fund•
2,780,222 11,829,449 111,gS6,6S31
2,117
50,024
2,707,659
Page 33

8TYLE ACRE
NOTES TO THE FINANCIAL STATÉMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. St•t•m•nt of fund• l¢ontlbw•dl
e•lanc• •t
31 Mir¢h
3024
B•l•n¢• •11
Apvll 2025
Tr•n•l•rn
Inlout
G•ln•l
In¢om• E)tp•ndltur•
R••trlcl•d fvnd•
Sensory and rebourtd ther•py
Vehicl•¥ 4ppB#l
T2 Appeal
IT- Technology fèr Independen¢•
Work developrneni
Dgy Opportunilies. Part•ubin
Gardon projecti
Communkalion? proje¢1
Support¢d Living
S¢¢kql enterpiises
Day Opportuniii¢3- G¢ner41
Coronavirv¥ pandemi¢
Ways lo Wellness
OCC Public Health- Heart H•iMh
Others
15,759
31,84J
40.046
27J
50,696
1,417
28,438
3,170
5.450
12.162
6,819
27,686
28,Jg8
4.078
116,2711
18,7011
18,01S1
1681
l•J,9911
11.0001
114,6641
11.5831
41,000
64,142
32,OJ1
206
19,gJ7
83,333
4,800
12.1171
16,667
1,587
J30
35,350
6,077
24,268
6,791
636
680
32,144
1,191
110,1561
19331
13,4171
lj6,J211
14.J431
19811
18,717
256.271
158,405
1204,4631
12,8171
207,476
Totsl ol fundB
3.036,493 11,987,gJ4 112.180.1161
50.B24
2,915,13S
Page 34

STYLE ACRE
NOTE8 TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEP 31 MARCH 2Q24
11. St•t•m•nt ol fund• Itontlnu•dl
Stat•m•nt ol fund•. prfor y••r
l•n¢• •1
31 March
2023
8alance il
1 April 2022
Tran*fers
Gain¥1
ILos8eil
Income Exp•ndilur•
Taxation
Unr•slrlct8d lund•
D••lgnat•d lund•
D•$i9n•ied revaluallon fvnd
SA8Re sinking fund
Holiday horne
SA8Re building10on
Fixed a58els replacement
Main Offi¢• •nd Day Qpportunw H
125,44e
97,521
142,476
700,000
261,839
600,000
77,297
95,780
139.9ee
700.000
284.712
600.000
12.5081
23.073
1.927,084
18,824
1,047,757
G•n•r•l lund
Gener81 lund
1.127,296 10,445,101 110,820,760)
13681
118,8241
932.465
Tot41 unr•¥twlct•d fund•
3,054,380 10,445,101 110.620,7501
13581
198,1511 2,780.222
PagB 35

STYLE ACAE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 31 AIARCH 2024
st•t•m•nt olfvnd$1¢ontlnu•dl
B•lance 4t
31 Marc
2023
Balance èt
1 April 2022
Transfers
G4ln
IL¢iiesl
In¢om• Expenditure
T4xalion
R••t*l¢t•d lund•
Sen$¢ry and rebound I￿rapY
V.ehrles appeal
T2 Appo81
IT- Technology lor Indopenden
WO￿ devdopmanl
D•y Opportunitie•. Port¥¢•bln
G•rd¢n projects
Communicationi pl01￿1
Supported Livin9
Social enlorprises
Day OpportuniliM- Goner41
Coronfivirus pandemic
Ways lo Welln•8B
OCC Publlc He•lth- Heart Heatth
Other$
854
42,678
48,ID6
363
57,019
2.417
27,007
4.004
600
10.784
3.692
31,103
32,631
7.294
1,957
34.799
119.8941
110.8351
18.0801
1901
160.1741
11.0001
125.8831
18341
12,6001
lJ,1221
12,7821
15.3661
121.7651
12.4161
113,8661
15,759
J1,843
40.046
273
50.$95
1.417
28.438
3.170
5.450
12,882
5,819
27.685
20.395
4,878
1,641
53,750
27.314
7,450
S,220
4,909
1,950
15,529
13,550
27Q,489
164.471
1178.6891
250,271
Totsl ot fund•
3,324,669 10,609.572 110.799.4391
13581
198,1511 3,038.493
Po9e 36

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARGH 2024
18. Stat•m•nt of lund¥1¢ontlnu•dl
17. Summ•ry ¢tlund•
Summ•ry of lund•. ¢yrr•nt y•or
8ahnco at 1
Aprll 2023
Trnn•l•
Inlout
31 M•r¢h
2024
Incom• Exp•ndlturn
Designal•d lundi
General funds
Reslricled fundi
1,147,7S7
•J2,465 11,129,449 111,966,16Jl
2S6,271
168,486
1204,4831
19,400
116,6831
12,1171
00,824
1,917.981
789,678
207,476
J,OJ6,413 11,987,gJ4 112,160,116)
60,824
2,915,135
Summ4ry of fund•. prfory••f
8alance at
31 March
2023
Balance 01
1 April 2022
Trnn&f•rs
irt10uI
Galnsl
ILossiJl
In¢¢rfie Exp¢ndrfUfe
Designiled fund•
General fund$
R•slricled lund*
1,927.084
1,127,296 10,445.101 110.620.7501
270,489
184.471
1178,8891
18,824
118.8241
1.847,757
932,465
256,271
3,224,869 10,6D9.572 110.799,4391
IJ561
198,1511 3,036,493
Paye 37

STYLE ACRE
NOTES TO THE FINANCIAL STATEPIIENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Analys1$ of net assets between funds
Analysis of net assets between funds - current period
Restricted Unrestricted
funds
funds
2024
2024
Tolal
funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
161,383
1,713.589
1,874,972
1,055.722
1,055,722
58,404
906,388
964,792
(12,311) (968,040) 1980,351)
Total
207,476
2,707,659
2,915,135
Analysis of net assets betwoon funds - prior period
Restricted Unrestricted
funds
funds
2023
2023
Totsl
funds
2023
Tangible fixed assets
Fixed asset investments
Currenl assets
Creditors due ￿￿thin one year
124,434
1,634,615
1,004,898
980,994
(840,285)
1,759,049
1,004,898
1,103,337
(830,791)
122,343
9,494
Total
256,271
2,780,222
3,036,493
Page 38

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Statement of funds - narrative
Purpose of Designated Funds:
Designated Revaluatlon Fund
The revaluation reserve fund is required by the Companies Act 2006 and represents the amount by which
investments exceed or fall short of historiGal cost.
Deslgnated Funds- SA8Re Slnklng Fund
This designated fund is lo provide for future repairs and maintenance at the SABRe building in Banbury,
vthich are received as part of the gift aid donation of Style Acre Trading Limited distributable profits.
Deslgnated Funds- Holiday Home
The funds are designated to provide a permanent small holiday home or caravan to allow our seNee
users, who may require high levels of continuing support vthilst they are away from home, to take a break
in a self-catering base at modest cost.
Deslgnated Funds - SABRe Bulldlng Loan
These funds are designated for the loan made to Style Acre Trading Limited for Ihe purchase and
refurbishment of the SA8Re building in Banbury. As the loan is expected to be for the long term. the
corresponding resep4es are illiquid.
Designated Funds - Fixed Assets Replacement
The majority of the charity's fixed assets are items with relatively short lives, such as motor vehicle5
and compuler equipment. Both of these are essential in running our charitable seNices and the reserves
represenled by their book value are illiquid and the assets themselves need regular replacement. These
funds are designated to addres5 both requirements.
Designated Funds- Main Office and Day Opportunity Hub Building
This designated fund is lo provide for costs associated with a new main office building and day
opportunity hub in Wallingford and represents an amount for the development and fixtures and fittings
required.
Purpose of Re$trlGled Funds:
Sensory and Rebound Therapy
These funds have been used to develop a sensory environment lor the people we support and provide
equipment to support the rebound therapy activities.
Funds utilised and capitalised as tangible fixed assets are being amortised to match the
depreciation charge in the financial statements, £102 {2023.. £213).
Vehicle Appeal
Some funds received in respect of the vehicles appeal have been utilised and capitalised as langible
fixed assets, and are being amortised to match the depreciation charge in the financial statemenls,
£8,251 (2023.. £8,344).
T2 Appeal
These funds have been used to assist in the opening and development of the drop in centre based in
Didcot and kno¥￿ as 'T2'. The facility is aimed at individuals less severe learning
diffi¢ultiesldisabilitie$.
Funds restricted to the purchase of new vehicles for the use at'T2' have been utilised and
capitslised as tangible fixed assets and are being amortised to match the depreciation charge in the
financial statements. £144 (2023: £180).
Funds restricted to the purchase of computer equipment at 'T2' have been utilised and
capitalised as tangible fixed assets and are being amortised to match the depreciation charge in the
financial statements, £27 (2023.. £37).
Page 39

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Funds restricted to the developmenl and Tefurbishment of the building at 'T2' have been utllised and
capitalised as tangible fixed assets and are being amortised to match the depreciats'on charge in the
financial statements, £7.844 (2023.. £7,844).
IT . Technology for Independence
These funds have been used to acquire technology for the use of the people we support. The projecl
aim5 to asse55 individuals to enrich their lives and increase independence through the use of technology.
Funds utilised and capitalised as tangible fixed assets are being amortised to match the
depreciation charge in the financial statements. £68 (2023.. £91).
Work Development
These funds are used to fund staff salaries relats'ng to the work development programme
Day Opportunltles - Porta¢abln
These funds are in respect of a Portacabin that was donated for use bythe charity. The
market value of the Portacabin has been capitalised as tangible fixed assets and are being amortised to
match the depreciation charge in the financial statements, £1,000 (2023.. £1,000).
Garden Projects
These funds are in respect of garden projects and garden redevelopments. This includes the community
garden project in Wantage, gardening projects at the day opportunity hubs or within the supported living
houses and Green Acre, our gardening social enterprise. Funds utilised to dale and capilalised as
tangible fixed assets are being amortised to match the depreciation in the financial stalemenls,
£121 {2023.' £121).
In addition, the funds have been utilised lo redevelop the garden at our Henley property to allow the
people we support lo access their garden and provide a safe sensory space for them to enjoy. Funds
utilised lo date and capitalised as tangible fixed assets are being amortised to match the deprecialion
in the financial statemen1$, £2,024 {2023. £2.0241.
Communlcallons Project
These funds are in respect of equipment to aid communication and continue to be utilised. Funds utilised
to date and capitalised as tangible fixed assets are being amortised to match the depreciats'on
charge in the financial ststements, £529 (2023.. £706).
Supported Llving
The funds held at 31 March 2023 will be used to fund equipment for use within the supported living
houses. Funds ulili5ed and capitalised as tangible fixed assets are being amortised to match the
depreciation charge in the financial statements, £112 (2023. £150).
Social Enterprises
The funds were raised to fund the purchase of items for use at our Tea Room in Blewbury. the charity
shop in Wallin9ford, Green Acre, our gardening business or for our new sustainable medal making social
enterprise. Where donations are received towards capital equipment, the funds are amortised to
match the depreciation charge in the financial statements, £1,635 (2023.. £523).
Day Opportunities - General
These funds have been raised to fund general costs and additional equipment at our day opportunities
hubs.Where donations are received toward5 Capital equipment, the funds are amortised to match the
depreciation charge in the financial statements. £225 {2023.' £nil).
Coronavirus Pandemic
These funds have been received from Oxfordshire County Council lo support the delivery of enhanced
infection control, vaccinations and increase workforce recruitment and retention within social care
services as part of the central govemment funding in response to the COVID-19 pandemic. Funds
utilised to date and capitalised as tsngible fixed assets are being amortised to match the depreciation
in the financial statements, £3,417 (2023: £3.417).
Page 40

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Ways-to- Wellness
These funds have been raised lo support the Ways-tovwellness programme vthich enables the people
we support, our employees and volunteers to Improve their heallh and wellbein9.
OCC Publlc Health- Heart Health
These funds have been raised to deliver activities focussing on healthy hearts, healthy eating and
physical activity as part of our Ways to Wellness programme which enables the people we support, our
employees and volunteers to improve their health and wellbeing.
Others
The funds received in respect of other donations are utilised in accordance with the donors wishes.
Donatsons received towards capital equipment are being amortised to match the depreciation
charge in the financial statements, £816 {2023.' £816).
20.
Reconciliatlon of n•t movement In funds to net c•$h flow from op8ratlng activltlos
Group
2024
Group
2023
Net expenditure for the period (as per Statement of Financial Activities)
1121,358) (288.376)
Adjustments lor:
Depreciation charges
(Gain)ILoss on investments
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Bank charges paid
Decreasel(increase) in debtors
Increasel {decrea5e) in creditors
Tax charge
Tax paid
84,282
150,824)
143,772)
1S,562
13,250
101,846
149,866
72,437
98.151
(36,302)
1,947
12,802
1110,250)
1232,320)
358
1306)
Not cash provlded byl(used In) operatlng actlvltles
148,546
(481,553)
21. Analysis of cash and cash equivalents
Group
2024
Group
2023
Cash in hand
615,903
652,602
Total cash and cash equivalents
615,903
652,602
Page41

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
22. Analysis of changes in net debt
At 1 April
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
652,602
(36,699
615,903
652,602
(36,699)
615,903
23. PensSon commltments
The group operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
represents contributions payable by the group to the fund. During the year pension contributions charged
in the Statement of Financial Activities amounts lo £269.775 (2023.- £230,841). At the balance sheet date.
outstanding contribution5 amounts to £37,67812023'. £31.391) and are included in creditors.
24. Operating lease commitmonts
At 31 March 2024 the Group and the Charity had commitments to make future minimum lease payments
under non-can¢ellable operating leases as follows:
Group
2024
Group
2023
Charity
2024
Charity
2023
Not later than 1 year
Later than 1 year and not later Ihan 5 years
Later than 5 years
153,510
225,613
134,307
214,486
4,665
177,424
341,327
415,539
172,361
370,852
454,304
379,123
353,458
934,290
997,517
Page 42

STYLE ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
25. Relat•d party transactlons
Some of the properties thal Style Acre uses.to provide support services to people wth leaming
difficultiesldisabilities are owned by Acre Housing formerly known as Style Acre Friends. On 1 April 2004
the support activities of Style Acre Friends were Iransferred to Style Acre.
Dunng the year the following transactions took place befyveen Style Acre and Acre Housing..
Style Acre recharged administration costs totalling £65,274 (2023.. £65,275) lo Acre Housing.
During the year Acre Housing made an unrestricted donation to Style Acre of £115,478 (2023.. £99,060).
As at 31 March 2024 an amount of £nil was owed by Acre Housing (2023.. £Nil).
During the year the charity traded with Its subsidiary, Style Acre Trading Limited. Detailed transactions
betr¥veen the charity and Style Acre Trading Limited have not been disclosed as allowed under FRS 102
Sectr'on 33.
A dependent of the Trustees. Mr I C Boullon, Mrs J E Marsan and Mr P Brice are recipients of style
Acre's seplices. The service packages are contracted through Oxfordshire County Council on the normal
terms, which apply to such a provision. The service user is not able to use their relati¢)nship to Mr I C
Boulton, Mrs J E Marsan or Mr P Brice to their advantage,
Page 43