2024-12-31-accounts

Docusign Envelope ID: AA35005D-9B7A-4503-AFCD-367731881864

Company registration number: 05010563 Charity registration number: 1102381

THE STEWARDS' TRUST

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024

BREBNERS

Chartered Accountants 1 Suffolk Way Sevenoaks Kent TN13 1YL

Docusign Envelope ID: AA35005D-9B7A-4503-AFCD-367731881864

THE STEWARDS' TRUST

Contents

Reference and Administrative Details	1
Trustees' Report	2 to 6
Statement of Responsibilities	7
Independent Examiner's Report	8
Statement of Financial Activities	9
Balance Sheet	10
Statement of Cash Flows	11
Notes to the Financial Statements	12 to 19

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THE STEWARDS' TRUST

Reference and Administrative Details

Co-Chairs	A J Bryan
	M W Quicke
Trustees	R Hawkins
	I R Mace
	P Taylor
	M Vernon
	E T Watson
	J C C Young
	S A Allen
	R Balfour
	H Booker
Secretary	S J Steel
Principal Office	72 Venn Street
	London
	SW4 0AT
Company Registration Number	05010563
Charity Registration Number	1102381
Independent Examiner	Martin Widdowson of
	Brebners
	Chartered Accountants
	1 Suffolk Way
	Sevenoaks
	Kent
	TN13 1YL

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THE STEWARDS' TRUST

Trustees' Report

The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and independent examiner's report of the charitable company for the year ended 31 December 2024.

The Trustees' Report includes those matters required to be disclosed in the Directors' Report under the Companies Act 2006.

Trustees

The trustees who held office during the year were as follows:

S A L Allen (appointed 6 October 2024) RJ R Balfour (appointed 18 November 2024) H V Booker (appointed 9 September 2024) A J Bryan R Hawkins I R Mace M W Quicke P Taylor M Vernon E T Watson J C C Young

Objectives and activities

The Company’s object is the advancement of the Christian faith mainly, but not exclusively, by means of teaching events, mentoring, the development of leaders, and youth and schools work. We seek to achieve this as a community, a 'family', following the way of Jesus, growing as disciples and inviting others to journey with us. We are shaped by Scripture and are Spirit-led and our purpose and passion is to bring together people of all ages and stages of faith, to go deeper in faith and deeper in relationship with God and with friends. We are indeed seeking to be 'disciples making disciples'.

Public benefit

The Trust's chief object is the promotion and encouragement of the Christian faith that will be known by its commitment to partner with God in building His Kingdom here, on earth. This we do through our volunteers and our youth and student workers, and by means of teaching events, mentoring, schools work, houseparties and youth events each year. The board of Trustees hear many stories of changed lives of young and old. The board ensures that the Trust keeps close to its chief object, and that people benefit from the work that is done in the name of the Trust.

The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

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THE STEWARDS' TRUST

Trustees' Report

Financial review

Total income increased by 25% to £854,976. Income from donations increased by 24% to £279,212, including £42,000 from three legacies and £4,193 for the Transformational Bursary Fund. The Trustees remain deeply grateful to the many individuals who have given sacrificially to the work of the Trust, in many cases for a great many years.

Income from events amounted to £571,133, a significant increase on the previous year, driven by both record numbers of young people attending the Youth events and the need to increase prices to cover increased venue costs. Bursaries granted from the Transformational Bursary Fund amounted to £6,359. Income from events was largely offset by the direct costs of running these events, which amounted to £555,304.

The operating costs of the Trust, comprising the team of youth workers and the central support they need for their work with young people, as well as support for the family and adult events and the administration of the Trust, continue to be carefully controlled. In 2024 total expenditure excluding event costs was £271,673, some 5% lower than in the previous year.

After the surplus for the year of £21,641, the Balance Sheet at 31st December 2024 continues to show a reassuring financial position, with total reserves of £205,895, including the balance on the designated Transformational Bursary Fund of £14,278.

Reserves Policy

The Trustees aim to maintain adequate cash reserves to protect the work of the Trust against short term changes in its financial circumstances. The Trustees reviewed their reserves policy in the light of the 2024 result and believe it is responsible to leave the policy unchanged, maintaining a free cash balance equal to between six and twelve months of regular operating costs not covered by committed standing order income expected to be received during that period. At 31 December 2024, total reserves remained slightly above this level but the significant budgeted deficit for 2025 is expected to bring reserves into line with the policy.

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THE STEWARDS' TRUST

Trustees' Report

Structure, governance and management

Structure

The Stewards' Trust is a company limited by guarantee whose constitution and objectives are set out in its Memorandum and Articles of Association.

Nature of governing body

The Stewards' Trust is managed by a board of Trustees, as detailed elsewhere in this report.

The board of Trustees meets four times a year. The aims and direction of the Trust are established by the Trustees and implemented by the Chief Executive (reporting to the Co-Chair) and by those under the CEO's management: the Youth Director, Family Director, Office Manager, two part-time administrators, employed youth team and unpaid, authorised volunteers.

Recruitment and appointment of Trustees

New Trustees are normally selected from houseparty and event hosts and are appointed after discussion, in their absence, at a board meeting. Due consideration is given to the potential Trustee's qualifications as well as the need to bring a diversity of skills to the board. The Co-Chairs, Alison Bryan and Martin Quicke, induct new Trustees.

Risk Management

The board regularly reviews the general risks faced by the Trust and the Trust's health & safety and risk assessment policies are formally updated annually. Event hosts also review the risks their particular venue may pose and then implement procedures to minimise any potential impact on their helpers and guests.

Co-Chairs' report

2024 has been an unusual year for the Trust, indeed borrowing from football commentators one might describe it as ‘a year of three thirds’!

In the first third we worked towards Jimi Gale’s departure, endeavouring to ensure a smooth handover. This led into the second third, being the ‘interregnum’ between Jimi’s departure and the arrival of our new CEO and was something of a fallow season in terms of strategy - if not in terms of activity! The ‘third third’ has led us into a new season of review and reflection as we were joined by our new CEO, Helen Booker.

Jimi has been a wonderful CEO - in a sense he crafted the role as its first incumbent and not only oversaw much growth in breadth and depth of our work but also navigated the Trust through the COVID years. We remain eternally grateful to him and wish him well for the future.

Our new CEO, Helen, undoubtedly hit the ground running with a full desk of day-to day issues as well as embarking on a full and questioning review of the ‘whats and hows’ of our activities; which will undoubtedly keep the Board and the executive team busy during 2025! She brings a welcome new energy and insight to the team.

We would also like to pay tribute to the Trust's executive team, who valiantly kept the Trust running (indeed thriving) during the 'interregnum'.

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THE STEWARDS' TRUST

Trustees' Report

Co-Chairs' report (continued)

Safeguarding Awards

A major highlight was the Trust being awarded the Thirtyone:eight Safeguarding Standards Award.

Helen Paterson, Family Director and Designated Safeguarding Officer for the Trust said:

‘The Trust has always prided itself on looking after people well. Creating a culture of care where everyone feels safe and supported is at the heart of our mission, and caring for people is really the foundation of safeguarding. We recognise that to truly honour this value, safeguarding is a priority. We think we’ve been doing a lot of things right, but we wanted someone objective and expert to have a look and see if they agree. So, we decided to apply for the safeguarding award and go through the process.’

Congratulations to Helen and the team on a wonderful achievement.

Residential events and some statistics

In 2024 the Trust ran 58 events, comprising,

44 Youth events including Revise, Catalyst, Explore, Activate, and Impact and school visits, university student suppers and weekends, youth days and training events;

6 family houseparties; and

8 adult houseparties.

We had approximately 1,775 attendees at our events - 430 youth and students, 850 on family events and 495 to adult events.

We trained approximately 230 people as volunteers.

Enormous thanks to Helen Paterson, Henrietta Mayhew, Tori Wells, Lizzie Novak and our DLY, Tom Phillpot, as well s Susannah Steel (Director of Operations), Mary Rose Whitcomb (Youth Team Administrator), Rosie Jarvie (Safeguarding Administrator) and our executive 'volunteer army', without whom these events would not happen.

We have very strong and consistent qualitative feedback from those who feel positive about our events.

One young person shared, "I felt I re-found my friendship in Jesus, and talking with the leaders really made me see faith and life from a different perspective."

One parent said their children "loved every minute and came back with so many good things to say about the leaders and their time with Jesus." Another commented, "We feel really encouraged about her faith journey, and that The Stewards' Trust houseparties are something she could go back to."

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THE STEWARDS' TRUST

Trustees' Report

Mentoring

With the departure of Matt Chisem in September, who had done a brilliant job in initiating and developing youth mentoring, the Trust's mentoring work has been kept 'ticking over' as we seek to recruit a new head of mentoring - hopefully a role we can fill quickly as this remains an important part of our work.

Co-Chairs' report (continued)

Transformational Bursary Fund

This remains a key and important means by which the Trust can broaden its demographic and facilitate access to youth events where funds might be a barrier to attendance.

Conclusion

The Trust exists to do God’s work in the arena of ‘Disciples making Disciples’. We are all very focused on this but we acknowledge that we couldn’t ‘do it’ without our loving Lord and without the constant help of the Holy Spirit.

Thank you, Lord, for blessing the Trust so richly.

Disclosure of information to auditor

Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Alison Bryan & Martin Quicke Co-Chairs, The Stewards' Trust

The annual report was approved by the Trustees of the charity on .................... and signed on its behalf by: 15-Aug-25

......................................... Mlisow Broa A J Bryan Co-Chair

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THE STEWARDS' TRUST

Statement of Responsibilities

The Trustees (who are also the directors of The Stewards' Trust for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the Trustees to prepare financial statements for each financial year. 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 state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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THE STEWARDS' TRUST

Independent Examiner's Report to the trustees of The Stewards' Trust ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity’s Trustees of The Stewards' Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of The Stewards' Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since The Stewards' Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of The Stewards' Trust as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

...................................... Martin Widdowson of Brebners Chartered Accountants

1 Suffolk Way Sevenoaks Kent TN13 1YL

Date:............................. 01-Sep-25

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THE STEWARDS' TRUST

Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account)

Note Unrestricted funds £ Income and Endowments from: Donations and legacies 3 275,019 Other trading activities 4 571,133 Investment income 5 4,631 Total income 850,783 Expenditure on: Charitable activities 6 (829,142) Total expenditure (829,142) Net income/(expenditure) 21,641 Net movement in funds 21,641 Reconciliation of funds Total funds brought forward 184,254 Total funds carried forward 15 205,895	Restricted funds £ 4,193 - - 4,193 (4,193) (4,193) - - - -	Total 2024 £ 279,212 571,133 4,631 854,976 (833,335) (833,335) 21,641 21,641 184,254 205,895	Total 2023 £ 225,972 452,367 5,811
			684,150
			(719,503)
			(719,503)
			(35,353)
			(35,353) 219,607
			184,254

The notes on pages 12 to 19 form an integral part of these financial statements. Page 9

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THE STEWARDS' TRUST

(Registration number: 05010563) Balance sheet as at 31 December 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible assets	10	262	1,050
Current assets
Debtors	11	47,704	57,854
Cash at bank and in hand	12	278,775	244,617
		326,479	302,471
Creditors: Amounts falling due within one year	13	(120,846)	(119,267)
Net current assets		205,633	183,204
Net assets		205,895	184,254
Funds of the charity:
Unrestricted income funds
Unrestricted funds		205,895	184,254
Total funds	15	205,895	184,254

For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees' responsibilities:

• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 9 to 19 were approved by the Trustees, and authorised for issue on ........................................ and signed on their behalf by: 15-Aug-25

......................................... ......................................... Alison. Bryan BRM ace A J Bryan I R Mace Co-Chair Treasurer

The notes on pages 12 to 19 form an integral part of these financial statements. Page 10

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THE STEWARDS' TRUST

Statement of Cash Flows for the Year Ended 31 December 2024

Note Cash flows from operating activities Net cash income/(expenditure) Adjustments to cash flows from non-cash items Depreciation Investment income 5 Working capital adjustments Decrease/(increase) in debtors Increase in creditors Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income Sale of tangible fixed assets Net cash flows from investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December	2024 £ 21,641 286 (4,631) 17,296 10,150 1,579 29,025 4,631 502 5,133 34,158 244,617 278,775	2023 £ (35,353) 771 (5,811)
		(40,393) (22,695) 15,750
		(47,338)
		5,811 -
		5,811
		(41,527) 286,144
		244,617

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 12 to 19 form an integral part of these financial statements. Page 11

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THE STEWARDS' TRUST

Notes to the Financial Statements for the Year Ended 31 December 2024

1 CHARITY STATUS

The charity is a company limited by guarantee and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 72 Venn Street London SW4 0AT

2 ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

Basis of preparation

The Stewards' Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. The charity has continued to receive support and donations from members and the trustees have sufficent control over expenses to ensure the charity will continue in operational existence for the foreseeable future. On this basis and after making enquiries, the trustees continue to adopt the going concern basis in preparing the financial statements.

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THE STEWARDS' TRUST

Notes to the Financial Statements for the Year Ended 31 December 2024

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Legacy income is recognised when receipt is probable and entitlement is established.

Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value.

Donated facilities and services are recognised in the accounts when received if the value can be reliabily measured. No amounts are included for the contribution of general volunteers.

Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apprortioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

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THE STEWARDS' TRUST

Notes to the Financial Statements for the Year Ended 31 December 2024

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests 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. Accordingly, the charity is potentially 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 the extent that such income or gains are applied exclusively to charitable purposes.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Furniture and equipment

Depreciation method and rate 33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

Fund structure

Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

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THE STEWARDS' TRUST

Notes to the Financial Statements for the Year Ended 31 December 2024

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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THE STEWARDS' TRUST

Notes to the Financial Statements for the Year Ended 31 December 2024

3 INCOME FROM DONATIONS AND LEGACIES Unrestricted £ Donations and legacies: Donations 98,373 Standing orders 111,253 Legacies 42,000 Gift aid reclaimed 23,393 275,019	Restricted £ 3,615 - - 578 4,193	Total 2024 £ 101,988 111,253 42,000 23,971 279,212	Total 2023 £ 93,597 111,176 - 21,199
			225,972

4 INCOME FROM EVENTS AND HOUSEPARTIES Youth events Houseparties and other events 5 INVESTMENT INCOME Interest receivable and similar income: Interest receivable on bank deposits	Total 2024 £ 163,022 408,111 571,133 Total 2024 £ 4,631	Total 2023 £ 138,785 313,582
		452,367
		Total 2023 £ 5,811

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Notes to the Financial Statements for the Year Ended 31 December 2024

THE STEWARDS' TRUST

6 EXPENDITURE ON CHARITABLE ACTIVITIES

		Unrestricted	Unrestricted
	Charitable							Total	Total
	expenses		Governance		Restricted			2024	2023
		£	£		£			£		£
Wages and salaries including
event related costs		164,280	44,948				-	209,228	224,881
Independent examiner fee		-		3,840			-	3,840		3,840
Marketing and Publicity		2,350		-			-	2,350		3,418
Depreciation		-		286			-	286		770
Office expenses		-	38,287				-	38,287		39,918
Event venue costs		555,304		-			-	555,304	425,522
Travel and Subsistence		17,180		-			-	17,180		13,489
Bursaries		2,167		-		4,192		6,359		7,665
Profit/loss on disposal of
assets		502		-			-	502		-
		741,783	87,361			4,192		833,336	719,503
**TRUSTEES REMUNERATION **	**AND **	EXPENSES
No Trustees, nor any persons connected with them,				have	received	any		remuneration from	the	charity
during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
STAFF COSTS
The aggregate payroll costs were as		follows:
								2024	2023
								£	£
Staff costs during the year were:
Wages and salaries								189,524	203,747
Social security costs								9,731		10,925
Pension costs								9,973		10,209
								209,228	224,881

7 TRUSTEES REMUNERATION AND EXPENSES

8 STAFF COSTS

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

2024 2023 Number of employees 10 10

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THE STEWARDS' TRUST

Notes to the Financial Statements for the Year Ended 31 December 2024

No employee received emoluments of more than £60,000 during the year.

9 TAXATION

The charity is a registered charity and is therefore exempt from taxation.

10 TANGIBLE FIXED ASSETS

10 TANGIBLE FIXED ASSETS
Cost At 1 January 2024 Disposals At 31 December 2024 Depreciation At 1 January 2024 Charge for the year Eliminated on disposals At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 11 DEBTORS Prepayments Other debtors 12 CASH AND CASH EQUIVALENTS Cash at bank		Furniture and equipment £ 11,503 (904) 10,599 10,453 286 (402) 10,337 262 1,050 2024 £ 32,066 15,638 47,704 2024 £ 278,775		Total £ 11,503 (904) 10,599 10,453 286 (402) 10,337 262 1,050 2023 £ 45,400 12,454
		2024 £ 32,066 15,638 47,704 2024 £ 278,775
				57,854
				2023 £ 244,617

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THE STEWARDS' TRUST

Notes to the Financial Statements for the Year Ended 31 December 2024

13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals and deferred income

----- Start of picture text -----
2024 2023
£ £
120,846 119,267
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14 PENSION AND OTHER SCHEMES

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £9,973 (2023 - £10,209).

15 MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Unrestricted funds General Designated Total unrestricted funds Restricted funds Total funds	Balance at 1 January 2024 £ 167,810 16,444 184,254 - 184,254	Incoming resources £ 850,783 - 850,783 4,193 854,976	Resources expended £ (826,976) (2,166) (829,142) (4,193) (833,335)	Balance at 31 December 2024 £ 191,617 14,278
				205,895 -
				205,895

Unrestricted funds

Unrestricted funds are available for use relating to the charity's objectives at the discretion of the trustees. There is a designated fund balance of £14,278 which was transferred for the purpose of allocating additional funds to the Transformational Bursary Fund, and treated as unrestricted funds.

Restricted funds

Restricted funds are those held for the purpose of the Transformational Bursary Fund which seek to help provide discounted places for youth camps to children and young people, who are from low income households.

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Docusign Envelope ID: AA35005D-9B7A-4503-AFCD-367731881864

THE STEWARDS' TRUST

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

Income and Endowments from: Donations and legacies (analysed below) Other trading activities (analysed below) Investment income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward	Total 2024 £ 279,212 571,133 4,631 854,976 (833,335) (833,335) 21,641 21,641 184,254 205,895	Total 2023 £ 225,972 452,367 5,811
		684,150
		(719,503)
		(719,503)
		(35,353)
		(35,353) 219,607
		184,254

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Docusign Envelope ID: AA35005D-9B7A-4503-AFCD-367731881864

THE STEWARDS' TRUST

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

Donations and legacies Standing orders Legacy Transformational Bursary donations Donations Gift Aid tax reclaimed restricted funds Gift Aid tax reclaimed unrestricted funds Other trading activities Event Income Houseparties and other events Investment income Interest received Charitable activities Wages and salaries including event related costs Staff NIC (Employers) Staff pensions (Defined contribution) Office expenses Bursaries (Designated) Bursaries (Restricted) Event and Houseparties costs Travel and subsistence Brochure and publicity costs Independent examiner's fee Depreciation of office equipment (Profit)/loss on sale of intangible fixed assets held for charity's own use	Total 2024 £ 111,253 42,000 3,615 98,373 578 23,393 279,212 163,022 408,111 571,133 4,631 4,631 (189,524) (9,731) (9,973) (38,287) (2,166) (4,193) (555,304) (17,179) (2,350) (3,840) (286) (502) (833,335)	Total 2023 £ 111,176 - 3,760 89,837 107 21,092
		225,972
		138,785 313,582
		452,367
		5,811
		5,811
		(203,747) (10,925) (10,209) (39,919) (3,556) (4,109) (425,521) (13,489) (3,418) (3,840) (770) -
		(719,503)

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