Charity number. 1119976 THE STONEYGATE TRUST TRUSTEES. REpoKf AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 THE STONEYGATE TRUST CONTENTS Page Referenco and admtnbtralfve detalls of tho charlty, Its Truslets and advlsern Truste￿. report Independent audltors. report on the flnandal statements Statement of flnanclal actlvlil•s 10 Balance shget 11 ststement of cash flows 12 Notes lo the financlal statements 13-24 THE STONEYGATE TRUST REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2024 Trust Sir W L Addwley Lady N V Adderfey A S Walden (resigned 15 September 2023) T M Slade D Durrant lappointed 15 September 2023) Charity reglstered number 1119976 Prlnclpal offke Two Marfborough Cwrt Watenwd Business Park Syston Leicestetshre LE7 1AD Independent audltors Magma Aurfit LLP Part of the Dains Group Chartered Accountants Unit 2 Charnwood Edge Bus*)es$ Park Syston Road Leicester LE7 4UZ Page 1 THE STONEYGATE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual rep)rt together with the audrted financial ststements of the charty for the year 6 April 2023 to 5 April 2024. The financial statements compty with the charttys trust deed. the Charities Act 2011. the prowsions of the Charities SORP (Second Edition) and Financial Rep￿"ng Stsndard FRS102. ObJectlv•s and activltles • Objectlves and alms The Trust is a general purpose charity and the intention of the Trustees is to develop main areas of benefrt over the course of time. During the Current year the focus has been on medical research. heatth and welfare and education. The Tw$t is very selective in the grant making process and aPpI￿nS are revith%td by the Trustees personamy. The Trustees confirm that they have referred to the guidance contained in the Charity Conmission's general guidance on public benefrt when re#ryewing the charity's aims and obi￿tiveS and in planning future activities and setting the grant makirwj policy for the year. • Grant4naking pollcl•s ft is the polry of the Trustees to make grants to other registered institutions in areas of medical research. education, social causes and other such charitable organisats'ons as the Trustees in their absolute discretion think f The Trustees have sought to benefft the public through a range of grarrts to causes within the condrtvjns of the trust deed. Achlovements and perfomiance Revl•w of xtlvltle¥ During the year grants of £3, 011.496 {2023'. £7,481.S35} were made as disclosed in note 6 to the accounts. A transfer of £1.768,569 was made from the Endcr•nnent Fund lo the Income Fund to cover the shortfall ansing in the Income Fund as a result of making these grw)ts wi accordance with the Trustees, poli¢y of releasir¥J funds from the EndowTnent FUNI as requred to meet the operatirvJ needs of the TrusL Flnanclal revlew • Prln¢lpal funding sources The Trust vms established by an initial gtsnt frorn Sir W L and Lady N V Adderley. The Trust has been well supported with further gtfts fr(xn Sir W L and Lady N V Adderley and it is envisaged that this will continue as and when needed. During the year gifts of £13.675. 000 {2023: £3,805. 0001 were received. £3, 105. 000(2023: £3,805. 000)being from W A Capitsl Limrted plus a grtl of 1.000.000 additional Dunelm Group plc shares wth a Yalue on transfer of £10.570,000 from Sir W L Adderley. Sir W L Adderley is the managiffj director and majorty shareholder of W A Capital Limited. Page 2 THE STONEYGATE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 • Invgstm•nt pollcy and obiectfve The over811 obJ"ective of the inveslment pc4ry 18 to achieve Suff￿lent grTh*lh and income (taking into account additional cash donations to the trust) to meet the requirements of the rese￿￿ policy, At the year end. the Trust hekl 1.967.250 shares in Dunelm Group pk, *ith a market value of £21,462,698 (2023.. 967,250 shares with a market value of £10.514.008). The intention ol the Trugtees is lo hold these shares for the long tem) and benefft frcrn capital growlh. Sir W L Adderley and Lady N V Adderley intend to continue to make cash donations from cunpanies which they control to meet the ongoing and future commitments of the harity. • Reserves pollcy The Trustees seek to ensure that the minirnum level of resefves is suffKierrt to cover the Trustees, commitments and plans for the foreseeabte future. Under the tem15 of the Trust Oeed, the Trustees are able to apply capital of the fund as well as income. Taking into account the intentbon or additional cash donations to the Trus( as stat in the Investment policy and objectives, the Trustees consider they have sufficient resources and funds available to meet their obligaticffls including responding to ¥)plicatsons for grants and cover support and govemance costs. The Inc￿le Fund reser¥* at S April 2024 was £Nil 12023: £Nil) and the ErKlThwnert Fund was £19,633,057 (2023: £7,347,936). • Golng concern At the time of preparfng the Financi￿ Statements the Trustees have a reasonable expectstion that the Charty has adequate resources to continue in owational existence for the foreseeable futu￿ and a period of at least 12 months fTom the date of signing. During this assessment. the Trustees considered thè position performance of the Cc¥npanies that support the Tn￿t. Follchving this assessment the Trustees conduded that it was appropriate to continue to ad¢Jpt the going concern basis of accounting in preparing the Financial Statements. • Future plans The Trustees intend to ccmtinue to make grants to the universit￿ and other Charitsble institutions whith it currently supports as well as forniing new relatM)nships. These grants will be funded by existing funds h*AI and subsequent donations received. Structure. govem•nc• and management • Legal and admlnlstratlve detalls The Stcneygate Trust was established by a Trusl Deed dated 2 Juty 21x17. as amerKled by a deed dated 30 Oecember 2013 and 21 September 2015 The Trustees who sep4ed during the year are listed on page 1., A S Wdden resigned on 15 September 2023. wrth D Dutrant being appointed C￿ the same date. The power of appointing new or addth'onal Trustees is vested in the said Sir W L Addert￿ during his lrfetime and subject thereto in the saKI Lady N V Adderley during her hfetime. Th8 Trust's bankers are Barclays Weatth, 1 Churcha Place. London EH14 5HP. The Truslees have wide ptrwers of investment vested in them ty the Trust Deed. Pag8 3 THE STONEYGATE TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 5 APRIL 2024 Structuro, govomanco and managemènt (continu￿) • Organlsational structur• The Trustees meet regularty to discuss and consKler the potential areas of a¢bvity for the Trust, induding consideration of grant makiry. investment. reseryes and risk rnan•Jement policies arKI performance. The Trustees decide on the grants to be paid after careful resewch irrto potential grant recipients. Rlsk managemont The Trustees have rewewed areas where potential and major risks may arise lo the Tnjst in accordance with the statement of re¢omrnended practice and have established systems arKI prctedures to manage these risks. The principal risk fxed by the Trust lies in the Perf￿n*￿e of investrTwIts. This is kept under fegular revbert by the Trustees. ststement of Trusl•es' responslbllltl¢s The Tmstees are responsfole for preparing the Trnstees, report and the financial statements in accordance with applicable law and United lfjngdom Accounting Stsndards (Unrted Kingdom Generalty Accepted Accounting Practice). The law applicable to tharit*s in England & Wales requires the Trustees to prepare financ￿ statements for each financd year vthich gtve a true and fair of the state of affairs of the chanty and of its incoming rescwrces and application ol resources. including its income arKI expenditure, for that period. In preparing these financial statements, the Trustees are required to.. seled suitable accounting policies and then apply them consistenty. observe the methods and principles of the Charities SORP (FRS 102).. make judgments aCc￿ntIng estimates thal are reasonable and prudent: state whether applicable UK Accounting Standards (FRS 102) have been follthved, subject to any material departures disclosed and exF4ained in Ihe financial ststements: prepare the financial siatements on the goiTrJ concem basis unless il 16 inappropriate to presume that the charity will ￿ltinUe in business. The Trustees are responsi14e for keeping adequate accountirg records that are sufficient to show and explain the charitys transactions and disclose with reasonable al any time the financial position of the charity and enable them to ensure tt)at the financial stalements ccrnply with the Charit*s Ad 2011, the Charity {A¢wunts and Reports) Regulath)ns 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charty and hence for tsking reasonable steps for thè prevention and detedion ol fraud and (ts irregularities. Dlsclosuro of Inforniatlon to audftors Each of the persons who are Trustees at the time wthen thi$ Trustees. report is approved has confinned that.. so as that Trustee is a￿are, there is no relevant wdit infomation d which the charity's auditors a 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 charity5 audrtors are aware of that inf0M￿tion. Page 4 THE STONEYGATE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Approved by order ol the members of the board of Trnstees and signed on their behaff by. Trustee Date.. 7 November 2024 Page S THE STONEYGATE TRUST INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE STONEYGATE TRUST Oplnlon We have audrted the financial statements of The Stoneyyate Trust (the 'chafiV) for the'year ended 5 April 2024 which comprise the Statement of financial actr4ities. the Balance sheet, the Stalemenl of cash flows and the related note5, including a summary of sNJnrficant a¢counting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdcffn Accounting Standards, indudir Financial Reportiry Standard 102 The Financial Reporting Standard appl￿ in the UK and Republic of Ifeland, (United lfjngdom Generally Accepted Accounting PraclKe). In our opinion the financial slatemerrts: gNe a true and fair view of the sLgte of the charitys affairs as at 5 ￿)ri12024 and of its incoming r￿)urceS and appli&*ion of resources lor the year then ended., have been properly prepared in accordance Y￿th United Kingdom Generaly Accepted Accounting Practice,. and have been prepared in aC￿danCe with thè requirements of thè Charitiès Act 2011. Basls for oplnlon We conducted our audit in accordance with Intemational Standards CA) Auditiry (UK) {ISAs {UK)} and applicable law. Our responsibilit￿$ under those standards are fvrther described in Ihe Audrtor5' responsibilities for the audit of the financial statements section of our reFMrt We are independent of the tharrty in accordance with the elhical requirements that are relevant to our audit of the finanaal statements in the United Kingdom, including the Financial ReportiNJ Council's Ethical Standard, and we have fu￿lled our other ethical responsibilities in accordance with these requirements. We believe that the audit ewdence we have obtained is suffKient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng eoncern In auditing the financial statements, we have concluded Ihat the Trustees, use of the going Goncem basis of accounting in the preparation of the financial statements is appropriate. Based on the work V•P have perfomed. we have not TrdentifEd any material uncertainties relating to events or conditsons that, inds¥idually or collectively. may cast signrficant doubt on the charivs to continue as a going concern for a perioj of at least ￿Tfve months from when the financial statements are aLrthorised for issue. Our respcjnsbi ilities and the responsfol￿les of the Trustees ¥￿th reSp￿t to going concem ara descrb8d in the lewdnt sections of this report. Other Information The other information Gomprises the information included in the Annual report other than the financial ststements and our Auditors. report thereon. The Trustees are responsible for the other nfomiation contained %thin the Annual reprt Our q)inIC￿ on the financial $L*ements does not cover the other info￿natIOn and. except to the exient othepNise expliotty stated in repcAt, we do not express any form of assurance conclusion thereon. Our responsibility is to re￿j the (ther infomiation aTrJ. in dcArg so. consider whether other Inf￿natiOn is materialty inconsistent with the financial statements or our kntY4vledge obtained in the course of the audit, or otherwise appears to be materialty misstated. If we identrfy such material inconsistencies C￿ apparent rnaterial misstatement5. we are required to dete￿nIne whether this gI￿S rise to a material misstalement in the financial statements thernsefves. If. based on the th we have perfomed. we conclude that thwe is a matenal misstatement ol this other informats'on. we ￿e requlred to repcrtt that fxL We have rK)thing to report in this regard. Page 6 THE STONEYGATE TRUST INDEPENDENT AUtXTORS' REPORT TO THE TRUSTEES OF THE STONEYGATE TRUST IcopinNUED) Matters on whlch we are requlrnd to report by exceptlon We have nothing to report in respect of the fokn¥ing matlers where the Charilies (Accounts and Reports) Regulat￿nS 2008 requires us to report to you rf, in our Opin￿n.. the inforynation glven in the TNstee5' Teport is inconsistent in any material respect with the financlal slatements; or sufficient accounting records hawj not been kept: or the financial statements are not in agreement with the accounting records and retums.. or we have not re¢etved all the inf¢ymatK)n and explanat￿n8 we require for our audiL Responslbllltles of trustoes As explained more fully in the Trustees, responsI￿TrtIes statement. the Trustees are restthsble for the preparation of the financial statements which give a true and fair view, and ffx such inlefnal control as the Trustees detennine is necessary to enable the p￿para1X)n of financial statements that are free from rnaterial misstatement, ￿ett￿ due to or error. In Preparing the financial statements. the Trustees are responsible for assessi￿ the charitr/s abilty to contlnue as a going concem. disclosing, as appli&2ble. matters related to going COn￿M and using the going concem basis of accounting unless the Trustees either interKI lo liquidate the charity or to cease <)peratw$, or have realistic altemative but to do so. Page 7 THE STONEYGATE TRUST INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF THE STONEYGATE TRUST ICONTINUEDI Audltorn, rn8ponslbiliti08 for the audit of the flnanclal stalomonts We have been appointed as auditor undef section 144 of the ChaTit*s Act 2011 and report in accordance wth the Act and re￿vant ragulats'ons m*le OT haMng effect thereunder. Our objectives are to obtsin reasonable assurance abwt whether the financial statements as a whde are free from material misstatement, ¥%hether due to fraud or error. and to Issue an Auditors. report that includes our opinion. Reasonab￿ assurance is a high level of assurance. but is not a guarantee that an audit wnducled in accordance with ISAS (UK) will aPway5 deteGt a material misstatement when it exists. Misstatements can arise frryn fraud or error and are considered material rf. individualty or in the aggregate, they could reasonably be expected to infiuence the Konomic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of nonn of the financial stslements such as the Chariiies Act 2011, Charities Act 2022 (introduced in part in October 2022) and provisions of the Charities SORP (FRS 102). We evaluated management's incentives and opportunities for fraudulent manipulation of finarKial statements (including the nsk of override of controls) ard detennined that the principal risks were ￿lated to posting inappropriate journal entries. and management bias in accounting estimates. ALKlit procedures performed included: Enquirie5 with management foi consideration of kn￿•M ￿ susp8Cted instances of norFcompliance with lav#S and regulations and fratyj. Identifw'ng and testiNJ journal entries. in particular any jouma5 entries posted with unusual account combinations. journal entries ¢rediling reNEnue. N)umal entries credth.ng cash and joumal entTièS Specrfic defined descriptions. There are inherent limitations in the audit prC￿edureS described above. The more removed non-compliance wilh and regulations is. from the events and transactions reflected in the financial statements, the less likely v Y)ulJ become aware of rt. Aso, the risk of not detecting a matwial misstatement due to fraud is higher than tP risk of nol delecting one resulting from error, as fraLMI inth delibw*e concealmenl by forgery intentional misrepresentation. for example. or through collusion. A further description of our responsibiliti'es the audrt of the financial stalements is located on the Financial Reporting CounGifs website at.. M￿.frc.0r onsibilities This desciiption fomis part of our Auditors, reFQrt. Page 8 THE STONEYGATE TRUST INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF ThE STONEYGATE TRUST ICONTINUEDI Use of our report This ieport ts made solety lo the charlws trustees. as a boty. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that might state to the ch8fiWs trustees those matters we are requwed to state to them wi an Auditors, rewt and f(r no other purpose. To the fullest extent pemitt•d by law, ￿ do not accept or assume responsits'lty to anyone other than the charity and its truslees. as a body. for our audrt work. this rep¢xl. or for the opini)ns have fomed. Magma Audlt LLP Chartered A¢countants Statutory Audit( Unit 2 Chamwoc#J Edge Business Park Syston Road Leicester LE7 4UZ Date.. Magrna Audit LLP is pat of the Dans Group. Magma Audit LLP we eligible to act as auditrys in tern)s of section 1212 of the c￿￿panieS Act 2006. Page 9 THE STONEYGATE TRUST STATEMEMf OF FINANCIAL ACTMTIES FOR THE YEAR ENDED S ￿oRIL 2024 Unrestrfcted EndoTNment funds fund$ 2024 2024 Total funds 2024 Total funds 2023 Income and endowments from: Donations and legacies Investrnents 13,675,000 13.675,000 1.265.060 3,805.IJOO 783.474 1.265.060 Total Income and endowments 1.265.060 13,675,000 14940,060 4,588.474 Expenditurn on: Charitable activit 3.033,629 3,033.629 7,518.428 Total expendlture 3,033.629 3.033.629 7,518.428 Net qexpendlturevlncome before n•t galns on Investments Net gains on investments 11.768,669 13.675.000 378,690 11,906.431 378.690 (2,929.954) 9.673 Net (expendhurn)nncome Transfers between funds (1.768,569 1,768,569 14,053,690 (1.768,569) 12,286.121 (2.920,281) 13 Total Iransfers 1.768,569 (1,768.569) Net movement In funds 12,286.121 12,285,121 (2,920,281) Reconclllatlon of funds: Total furKls brought forward Net movement in funds 7,347.936 12.28S.121 7,347,936 12,285.121 10,268.217 (2,920,281) Total funds rArrlod forward 19,633,057 19,633.057 7,347,938 The Statement of finaneial adivitles indudes all gains and losses re¢ognised in ts yèar. The notes on pages 13 to 24 form part of these financial statements. Pw10 THE STONEYGATE TRUST BALANCE SHEEr AS AT 6 APRIL 2024 2024 2023 P401• Flxed assets Tangible assets Invesbnents 6,435 21.462,698 8,T15 10.514,008 21,469.133 10.522.783 Current assets Debtors Cash at bank and in haTh 10 1 ￿03.298 34.782 531,988 947 1.038,080 532,935 Creditors: amounts faling due wilhin one 11 11206,891) (1,122,489) Not curront assets I Ilabllltles {168,811) {589,554) Total assets less current Ilabllltleg 21,31)0.322 9,933,229 Creditors.. amounts faling due after more than one year 12 (1.667,265) (2,585.293) Total net asuts 19.633,057 7.347,936 Charlty funds Endr￿￿￿ent funds Restricted funds 13 13 19.633,057 7,347,936 Unrestricted funds 13 Total funds 19,633,057 7,347,936 The financial statements were appr(l￿d and authorised for issue by the Truslee$ and s*3ned on their behall by: Slrw L Adderley Trustee Date.. 7 November 2024 The not88 on pages 13 to 24 fomi part of these finarKial stalements. Pa9e 11 THE STONEYGATE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Cash flows from operatlng actlvftlès Net cash used in operating activiknes 14.336,2251 {4.981,245) Cash flows from Investlng actlvllles Diwdends, interests and rents frorn investments RefurKI from langible fixed assets 1.265,060 783,474 7.500 Net cash provlded by Invostln9 actlvttlos 1,265,060 790,974 cash flows from flnandng actlvttles Income attributable to endtr•rtnent 3.105.000 3.805,000 Net cash provkled by financlng actlvitles 3.10SOOO 3.BOS,IXID Chango In cash and cash oqulvalents In the year Cash and cash equivalents at the beginning of the year 33,835 (385,271) 386,218 947 Cash and cash equlvalents al the end of the year 34,782 947 The notes on pages 13 to 24 form part of these financial statements P&3e 12 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 General Infomiatlon The Stoneygate Trust is an unirKorpcYated d)arity registered with the Chanty Commission. fts registered oflice address is Two Marlborough Court. Waterme&J Buslness Park, Syston. Leicestershire, LE7 1AD and its registered number is 1119976. Accountlng pollcles 2.1 Basi$ of prnparntlon of flnanclal statements The financial statements have been prepared in accordance ￿ryth the second edition of the Charitie5 Statement of Recomrnended Practice applicable to charities preparing their accounts in accordance th the Financial Reporting Standard appluble in the UK and Reput4ic of Ireland, the FinarKial Reportiryd Starxlard applicable In the UK and RepuL4ic of Ireland (FRS 102} and the Charities kt 2011. The Stoneygate Trust meets the defin"rtK)n of a public benefrt entity under FRS 102. Assets and Irabilities a￿ inrtially recognised at historical cost or transaction vdue unless otherwise stated in the relevant accounting polry. 22 Golng concern At the time of preparing the Financiat Statements, the Trustees have a reasonable expectation that Ihe Charity ￿ adequate resources to continue li operational existence fcf the foreseeable future. The Trustees have laken into consideration the pertomiance of Companies provide the Trust with donated in¢ome and their abilty to intrrxluce funds rf required. together vthh the perfomance of investrnents. The Trustees continue to *t ttE gory concern basis d ￿oUntIng in preparing the Financial Statements. 13 In¢ome All income is rwnised in the Statement ol Financial Activities once the charity has entsllement to funds. l is protkible IPAt the income be received the amount crf income r￿e1Vable ￿ be measured reliaw. Investment income is included when receprfable arld the wnount ¢an be measured reliabty ty the charty; this is normally upon noliftstic)n of the interest paid or payable by the barkk. 2.4 Expendltur• Liablit￿$ are recogntsaj as expenditure as soon as there is a legal or constructive oblwjation committing ￿ charity to that experditure. it is possible that a transfer of economic beneflts Vlill be required in settlement and that the ￿noUn1 of the Ot￿atIOn can be measured reffiably. Expenditure is counted for on an accruals basi8 and has been classffied under headings that aggregate all cost related to the category. Where costs cannot be directy attribLrtable to particular headiNJs they have been aMo¢ated to xtivit￿5 on a basis consistent wrth the use of resources. ExPer￿rture ￿ charitable actiwlies is irrturred on directty undertaking the xtivit￿3 which further the ¢haritYs ¢)bjectNes, as well as any asslxiated Support costs. Page 13 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng polkios leontinuod) 2.5 Grants Grdnts payable are IrKI￿ in the Statement of Financial Activitses in the perK)d in vthich conditions attached to tho award have been met. Any grants which have been promised bLrt where there are no conditions, ￿ where conditions have been met but the grant has yet to be paid, are accounted for as credrtors on the Balance Sheet. Where granls have been approved in principle but conditions attached to the ¥trYard have not yet been met are induded in the notes to the accounls as a contingent liabilty. 2.6 Allocatlon and apportlonmont of cosls Resources are alhxated to the particular Fund wthere costs relate directly to that Fund. The cost of general direction and administration is bome by the Income Fund. Support ¢0s1s and governance costs are those costs incurred directty in support of expenditure on the objects of the charity and tnclLKle project management carried out at Headquarters. 2.7 Taxatlon The charity is exempt fr(xn tsx on its Charitab￿ activities. 2.8 Tanglblo flxed assets and dwrgclatton Tangible frAed assets are capitalised and recognised when future ecOn￿1C benefrts are probable and the cost or value of the asset can be measured reliabty. Tangible fixed assets ￿ iniiialty recognised at cosl. After recognit￿. under the cost model, tangible ftJO 32,459 33,325 5,000 50,000 47,321 26,798 1,240,780 78,243 Framework Housing Association Harri$ Westminster Sixth Form Imperial College London Imperral College of S¢ience Technology and Medicine Kidney Research UK King's College Lorrflon Lady Carol Dlanogty Memorial Fund Llly Foundatlon Res&3rch Awards Liverpool School of Tropical MedKine LOROS Loughborough Univernty MQ TransformirwJ Mental Health NeKa5tle Universty Nottingham Trent Univefsity Oxlord Brookes Universty Queen Mary Universty of London Queens UnNersity Belfast Royal National Orthopaedic HO$￿ts1 Ruuand Festival of Remembrance The Rutland Lieutenancy Surgical Research Soudy TeesKle Universty Tel Aviv University Trust UK Research and Innovati(M) Universiiy of Birniingham University of Bristol Universty of Cambridge University of Cambridge - EVNP proierts University of Cambridge - Phdanthrophi¢ Grft 100.000 162,668 1,390,617 44,805 23.428 24.200 20.332 317.$31 4.750 45.458 61,856 12,805 198,130 56.500 32,799 (1.679) 20,869 14,613 41,885 12,668 20,000 9,000 14.650 4,996 6,875 14.225 6.875 96055 59,845 49,332 200.000 200.000 Page 17 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Grants payable Iconllnuedl UnNersity of College London UnNersty of Cdlege London- Devekjpment Fund Universty of East London Universty of Edinburgh UnNersty of Glasgow Universty of Hertlord$hire unp￿rSty of Leeds Univer5ty of LeKester Universty of Leicester - Empalhic Healthc Universty of Leicester- Kithey Lifes￿ research woiect UnNeTsty of Leicestw - Wical foundatwjn cow5e UnNersty of Liverp(KJl Universty of Manchester Universty of Nottingham - CBTR Universty of Oxford Universty of Sheff*ld University of Strathclsrle Uniw5ty of York Westminister Abbey De Montfort Universty- Scholarships Loughborouoh Un￿er5ty- Scholarships Nottlngham Trent Universty- Scholarshpxd Unp￿rSty of LeI￿ster- Scholarships UnNersty of Nottingham - Scholarships (13,9801 160,949 32,827 43,441 7,375 5,000 16,676 168,028 18,588 37,838 13.000 3,979.355 230.000 (7,C4)0) 16,636 42,$1)0 (12.0001 11,805 29,737 60,945 41,628 19,576 9,893 66,945 20.373 36.256 5.141 4,999 195.800 24,000 24000 24.OCIJ 27,000 27.OCM) 3.011h96 7,481,535 Trustees. remuneratlon and beneffts There were Trustees, remuwation, expenses or 011￿r benefts for the year eth S April 2024 and the year erKJed 5 April 2023 other than those d8¢losed in note 18. Page 18 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Tanglble flxed assets Softwar8 Cost or valuatlon At 6 April 2023 11.700 At 5 April 2024 11,700 Depreclatlon At 6 April 2023 Charge for the year 2.925 At 5 April 2024 5,26S Not book value Al S April 2024 6.435 At 5 April 2023 8.775 Flxed asset Investments Llsted Inveslments Cost or valuatlon At 6 April 2023 Additions Revalualions 10,514.008 10.570,000 378.690 At S April 2024 21.462.698 Page 19 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMEHrs FOR THE YEAR ENDED S APRIL 2024 10. D•btorn 2024 2023 Other debtors 1,003,298 531,988 1,003.298 531,988 11. Credltors: Amounts fallSng due wlthln one year 2024 2023 Other creditor5 A¢¢ruals and deferr•J income 1.192.953 13,938 1.113.889 8.600 1,206,891 1,122.489 other creditors above includes £1,192,953 (2023: £1.113.889) of grants commÈtted to at the year end. 12. Credftors: Amountg falllng due after mor• than one year 2024 2023 Other creditors 1,867,26S 2.585.293 Other creditors above includes £1.667,265 (2023". £2.585,293) of grants committed to at the ￿ar end. P4e 20 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 5 APRIL 2024 13. Statem•nt of funds Statgmont of funds - cUrT￿t yoar Balance at 6 Aprll 2023 Transfers Inlout Galnsl Balance at S (Losses) April 2024 Incom• Exp•ndlluro Unrestrlcted funds General funds 1,26&060 13,033,629) 1.768,$69 Endowment nds ErKlowment funds 7,347,936 13,675,000 11,768,569) 378,690 19,633.057 Total of funds 7,347,936 14,940,060 {3.033.629) 3n,890 19,633,057 Statement of funds- prlor year Balance at 6 April 2022 Transfer5 vVoul Gainsl Balance al (Losses) 5 Awll 2023 Income Expendrture Unreslrkted funds General funds 783.474 (7.518,428) 6,734.954 Endowmonl funds End¢74ment funds 10,268.217 3.805.1X)o (6.734,954) 9,673 7,347,936 Total of funds 10,268.217 4,588.474 (7.518,428) 9.673 7,347.936 Page 21 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 14. Analyskn of net assets between funds Analys* of net assets between funds - current perlod Unrestricted Endowment funds funds 2024 2024 Total funds 2024 Tangible r￿ed assets Fixed asset investments cU￿￿t assets Credrtors due within one year Credttors due in more than one year 6.435 6A35 1.829,641 19.633,057 21.462.698 1.038.080 1.038,080 {1,206,891) (1,206,891) {1,667,265) (1,667.265) Total 19,633,057 19,633,057 Anatysl8 of net assets between funds - prlor period Unrestrided EndlY￿￿ent lunds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset Investments Current assets Cr￿litorS due wilhin one year Creditors due in more than one year 8,775 3.166,072 532,935 (1.122.489) {2,585.293) 8.775 7,347.936 10,514.008 532,935 (1,122,489) {2.585,2931 Total 7,347,936 7.347,936 Page 22 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 15. Reconciliation of net movement in funds to net cash flow from operat¥w activitie8 2024 2023 Nel incomelexpendlture for the perh￿ (as per Statement of Financial Actpiities) 12,285,121 (2,920,281) Adjustments for. Depreciation charges Unrealised gains on investrnents Dividends, interests and rents Ir(xn inveslments Income attributable to endo*inent Increase in debtors (Decrease)lincrease in creditorJ 1,*5 1618.690) (9,6731 11,265,060) (783.474) (13,535,1)001 (3,805.OCKII 1471,310) (396.5731 1833,626) 2,931,791 Net cash used In operallng actfvttles 14,336,225) (4,981,245) 16. Analys￿ of cash and cash equfvalents 2024 2023 Cash in harKI 34.782 Totsl cash and cash equlvalents 34,782 947 17. Anafysis of changes in net debt At 6 Aprll 2023 Cash flows At 6 Aprll 2024 Cash at bank and in hand 33.835 34,782 33,835 34,782 18. Related party transactlons At 5 April 2024 1,967,250 shares were held in Dunekn Group PIC (2023.. 967.250 shares), a ccffipany in vthich Sir W L Addedey, a Trustee. is a Director and Shareholder. Included in professional fees is £5.856 (2023.. £27.6301 in relation to fees paid to Mr A S Walden, a Trustee to 15 September 2023. None of these costs (2023.. £2,000) are included viithin Greditors. These fees were paid to Mr A S Walden as a self-emphyfftd consultant to provide research on prospectTrie grants payable and for monitonng services on actual charilable grants arKI assttiated matters. Page 23 THE STONEYGATE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 19. Transfers b•tw••n funds Under the tenns of the Trust Deed. the Trustees have pmr in their absolule discretron to pay or apply the whole or any part of the Endchvrnent Fund in furtheran￿ and pursuance of the Trust's charitable purposes. 20. Contlngent Ilabllltles The Trustees have expressed an intention, Ixrt not a fimi commitment. to make grant payments for the follcmryng instrtutions". Kidney Lrfestfv Research Programme, £1,991,455 by March 2029 Children's Brain Tumour Research. £30.472 by Augjst 2024 KKlney Research UK, £6.419.817 by March 2028 Universty of carnb￿e. £937.500 by September 2027 Loughborough Universty, £27,000 by October 2025 De Montfort Unprfersty, £84.000 by October 2027 Universty of Leicester, £84.000 by October 2027 Nottingham Trent Unrversity, £57.000 by October 2026 Untversty of Nottingham. £81.000 by Octc*￿ 2027 LOROS. £663.653 by April 2026 Duke of Edinburgh Award Scheme. £20,000 by April 2024 All Sants Pwish Church. Oakhwn, £5.000 by April 2024 Lily Foundation. £315.117 by SeptemL*r 2026 The Bridge, £9.250 by June 2024 Rosetrees. £2.202.989 by May 2028 Westminster Abw. £666.666 by Decernber 2025 Oakham FoundatKJn Award. £1.200,(hJO by April 2028 Page 24