2025-04-05-accounts

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Charity number: 1119976

THE STONEYGATE TRUST

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

THE STONEYGATE TRUST

CONTENTS

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||||||||| |---|---|---|---|---|---|---|---| |Page| |Reference and|administrative|details|of the|charity,|its Trustees and|advisers|1| |Trustees’|report|2-5| |Independent auditors’|report on|the financial statements|6-9| |Statement|of financial|activities|10| |Balance sheet|11| |Statement|of cash|flows|12| |Notes|to the|financial|statements|13|-24|

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THE STONEYGATE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED5 APRIL 2025

Trustees Sir W L Adderley Lady N V Adderley T M Slade D Durrant Charity registered number 1119976 Principal office Two Marlborough Court Watermead Business Park Syston Leicestershire LE7 1AD Independent auditors Magma Audit LLP Part of the Dains Group Chartered Accountants Unit 2 Charnwood Edge Business Park Syston Road Leicester LE7 4UZ

Page 1

THE STONEYGATE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their annual report together with the audited financial statements of the charity for the year 6 April 2024 to 5 April 2025. The financial statements comply with the charity's trust deed, the Charities Act 2011, the provisions of the Charities SORP (Second Edition) and Financial Reporting Standard FRS102.

Objectives and activities

e Objectives and aims

The Trust is a general purpose charity and the intention of the Trustees is to develop main areas of benefit over the course of time. During the current year the focus has been on medical research, health and welfare and education.

The Trust is very selective in the grant making process and applications are reviewed by the Trustees personally.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year.

e Grant-making policies

It is the policy of the Trustees to make grants to other registered institutions in areas of medical research, education, social causes and other such charitable organisations as the Trustees in their absolute discretion think fit.

The Trustees have sought to benefit the public through a range of grants to causes within the conditions of the trust deed.

Achievements and performance

e Review of activities

During the year grants of £1,679,231 (2024: £3,011,496) were made as disclosed in note 6 to the accounts. A transfer of £25,244 (2024: £1,768,569) was made from the Endowment Fund to the Income Fund to cover the shortfall arising in the Income Fund as a result of making these grants in accordance with the Trustees’ policy of releasing funds from the Endowment Fund as required to meet the operating needs of the Trust.

Financial review

e Principal funding sources

The Trust was established by an initial grant from Sir W L and Lady N V Adderley. The Trust has been well supported with further gifts from 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 £650,000 (2024: £1 3,675,000) were received, £650,000 (2024: £3,105,000) being from W A Capital Limited. In the prior year, there was a gift of 1,000,000 additional Dunelm Group plc shares with a value on transfer of £10,570,000 from Sir W L Adderley. Sir W L Adderley is the managing director and majority shareholder of W A Capital Limited.

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THE STONEYGATE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

e Investment policy and objectives

The overall objective of the investment policy is to achieve sufficient growth and income (taking into account additional cash donations to the trust) to meet the requirements of the reserves policy. At the year end, the Trust held 1,967,250 shares in Dunelm Group plc, with a market value of £18,265,916 (2024: £21,462,698). The intention of the Trustees is to hold these shares for the long term and benefit from capital growth. Sir W L Adderley and Lady N V Adderley intend to continue to make cash donations from companies which they control to meet the ongoing and future commitments of the charity.

e Reserves policy

The Trustees seek to ensure that the minimum level of reserves is sufficient to cover the Trustees’ commitments and plans for the foreseeable future. Under the terms of the Trust Deed, the Trustees are able to apply capital of the fund as well as income. Taking into account the intention or additional cash donations to the Trust, as stated in the Investment policy and objectives, the Trustees consider they have sufficient resources and funds available to meet their obligations including responding to applications for grants and cover support and governance costs. The Income Fund reserve at 5 April 2025 was E£Nil (2024: £Nil) and the Endowment Fund was £17,061,031 (2024: £19,633,057).

e Going concern

At the time of preparing the Financial Statements the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and a period of at least 42 months from the date of signing. During this assessment, the Trustees considered the position and performance of the Companies that support the Trust. Following this assessment the Trustees concluded that it was appropriate to continue to adopt the going concern basis of accounting in preparing the Financial Statements.

e Future plans

The Trustees intend to continue to make grants to the Universities and other Charitable institutions which it currently supports as well as forming new relationships. These grants will be funded by existing funds held and subsequent donations received.

Structure, governance and management

e Legal and administrative details

The Stoneygate Trust was established by a Trust Deed dated 2 July 2007, as amended by a deed dated 30 December 2013 and 21 September 2015. The Trustees who served during the year are listed on page 1. The power of appointing new or additional Trustees is vested in the said Sir W L Adderley during his lifetime and subject thereto in the said Lady N V Adderley during her lifetime.

The Trust's bankers are Barclays Wealth, 1 Churchill Place, London EH14 SHP.

The Trustees have wide powers of investment vested in them by the Trust Deed.

e Organisational structure

The Trustees meet regularly to discuss and consider the potential areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance. The Trustees decide on the grants to be paid after careful research into potential grant recipients.

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THE STONEYGATE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED§ APRIL 2025

Structure, governance and management (continued)

e Risk management

The Trustees have reviewed areas where potential and major risks may arise to the Trust in accordance with the statement of recommended practice and have established systems and procedures to manage these risks. The principal risk faced by the Trust lies in the performance of the investments. This is kept under regular review by the Trustees,

Statement of Trustees’ responsibilities

The Trustees 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).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its 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 methods and principles of the Charities SORP (FRS 102);

• ° make judgments and accounting estimates that are reasonable and prudent: ° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material 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 charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed, They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

• . so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are 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 charity's auditors are aware of that information.

Auditors

The auditors, Magma Audit LLP (Part of the Dains Group), have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the rs of the board of Trustees and signed on their behalf by:

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THE STONEYGATE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED5 APRIL 2025

Date: 4 November 2025

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THE STONEYGATE TRUST

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE STONEYGATE TRUST

Opinion

We have audited the financial statements of The Stoneygate Trust (the 'charity’) for the year ended 5 April 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows 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 of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 5 April 2025 and of its incoming resources and application of resources for the year then ended;

• ° have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• © have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

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 Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with 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 with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going 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 charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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THE STONEYGATE TRUST

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE STONEYGATE TRUST (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ 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 information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• e the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or

• ° sufficient accounting records have not been kept; or ° the financial statements are not in agreement with the accounting records and returns; or ° we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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THE STONEYGATE TRUST

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE STONEYGATE TRUST (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the sector, we have identified the principal risks of noncompliance with laws and regulations related to UK Tax and legislation and breaches of the Charities Act, and we have considered the extent to which non-compliance might have a material effect on the financial statements.

We also considered those laws and regulations that have a direct impact on the preparation of the financial Statements such as the Charities 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 the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries, and management bias in accounting estimates. Audit procedures performed included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

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THE STONEYGATE TRUST

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE STONEYGATE TRUST (CONTINUED)

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Magma Audit LLP (part of the Dains Group) Chartered Accountants Statutory Auditor Unit 2 Charnwood Edge Business Park Syston Road Leicester LE7 4UZ Date! 5 fu [25

Magma Audit LLP (part of the Dains Group) are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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THE STONEYGATE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED5 APRIL 2025

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Endowment|Total|Total| |funds|funds|funds|funds| |Note|2025£|2025£|2025£|2024£| |Income|and|endowments|from:| |Donations and|legacies|3|-|650,000|650,000|13,675,000| |Investments|4|1,669,599|-|1,669,599|1,265,060| |Total|income and|endowments|1,669,599|650,000|2,319,599|14,940,060| |Expenditure|on:| |Charitable|activities|1,694,843|-|1,694,843|3,033,629| |Total|expenditure|1,694,843|-|1,694,843|3,033,629| |Net|(expenditure)/income|before|net| |(losses)/gains|on|investments|(25,244)|650,000|624,756|11,906,431| |Net|(losses)/gains|on|investments|-|(3,196,782)|(3,196,782)|378,690| |Net (expenditure)/income|(25,244)|(2,546,782)|(2,572,026)|12,285,121| |Transfers|between|funds|13|25,244|(25,244)|-|-| |Total|transfers|25,244|(25,244)|-|-| |Net movement|in funds|-|(2,572,026)|(2,572,026)|12,285,121| |Reconciliation|of funds:| |Total funds|brought forward|.|19,633,057|19,633,057|7,347,936| |Net movement|in funds|-|(2,672,026)|(2,572,026)|12,285,121| |Total funds|carried|forward|.|17,061,031|17,061,031|19,633,057|

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The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 13 to 24 form part of these financial statements.

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THE STONEYGATE TRUST

	BALANCE SHEET	BALANCE SHEET
	ASAT 5APRIL 2025
	Note		2025 £		2024 £
Fixed assets
Tangible assets	8		4,095		6,435
Investments	9		18,265,916		21,462,698
			18,270,011		21,469,133
Current assets
Debtors	10	1,021,767		1,003,298
Cash at bankand in hand		77,345		34,782
		1,099,112		1,038,080
Current liabilities
Creditors: amounts falling duewithin one year	11	(1,073,051)		(1,206,891)
Netcurrentassets/ liabilities			26,061		(168,811)
Total assets less current liabilities			18,296,072		21,300,322
Creditors: amounts falling due aftermore thanoneyear	12		(1,235,041)		(1,667,265)
Total netassets			17,061,031		19,633,057
Charity funds
Endowmentfunds	13		17,061,031		19,633,057
Restricted funds	13		-		-
Unrestricted funds	13		.		-
Totalfunds			17,061,031		19,633,057

The financial statements were ap d and authorised for issue by the Trustees and signed on their behalf by:

Sir W L Adderley Trustee

Date: 4 November 2025

The notes on pages 13 to 24 form part of these financial statements.

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THE STONEYGATE TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2025

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Cash|flows from|operating|activities| |Net cash|used|in operating|activities|(2,277,036)|(4,336,225)| |Cash|flows from|investing|activities| |Dividends,|interests and rents from investments|1,669,599|1,265,060| |Net cash provided|by investing|activities|1,669,599|1,265,060| |Cash flows from|financing|activities| |Income attributable to endowment|650,000|3,105,000| |Net cash|provided by financing|activities|650,000|3,105,000| |Change|in cash and cash equivalents|in the year|42,563|33,835| |Cash and cash equivalents at the beginning of the year|34,782|947| |Cash and cash|equivalents at the end of the year|77,345|34,782| |The|notes|on|pages|13|to 24 form|part|of these|financial|statements|

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THE STONEYGATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

1; General information

The Stoneygate Trust is an unincorporated charity registered with the Charity Commission. Its registered office address is Two Marlborough Court, Watermead Business Park, Syston, Leicestershire, LE7 1AD and its registered number is 1119976.

2. Accounting policies

• 2.1 Basis of preparation of financial statements

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

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Stoneygate 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.

2.2 Going concern

At the time of preparing the Financial Statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have taken into consideration the performance of Companies who provide the Trust with donated income and their ability to introduce funds if required, together with the performance of investments. The Trustees continue to adopt the going concern basis of accounting in preparing the Financial Statements.

• 2.3 Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Investment income is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

2.4 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is possible that a transfer of economic benefits will be required in settlement and that the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

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THE STONEYGATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2. Accounting policies (continued)

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2.5 Grants
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Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.

2.6 Allocation and apportionment of costs

Resources are allocated to the particular Fund where costs relate directly to that Fund. The cost of general direction and administration is borne by the Income Fund. Support costs and governance costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters.

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2.7 Taxation
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The charity is exempt from tax on its charitable activities.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition 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 provided on the following basis:

Software - 20% straight line basis

2.9 Fund accounting

The Trust maintains two funds, as follows:-

Endowment Fund

The expendable Endowment Fund represents donations received which form part of the capital fund of the Trust. The Fund is expendable endowment insofar as the Trustees have discretion to expand the Fund in furtherance of the objects of the Trust. Transfers are made from the Endowment Fund to the Income Fund to cover any shortfall arising on a year by year basis as a result of amounts expended from the income fund in furtherance of the Charity's objects in excess of the net balance held in the Income Fund. The Endowment Fund includes a revaluation reserve representing the restatement of investment assets at market value.

Income Fund

The Income Fund represents the income arising on the Endowment Fund and is expendable at the discretion of the Trustees in furtherance of the objects of the Trust. The Fund is a general unrestricted fund.

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THE STONEYGATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2. Accounting policies (continued)

2.10 Fixed asset investments

Fixed asset investments are stated at fair value as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

2.11 Debtors

Trade and other debtors are recognised at the settlement amount.

2.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Long-term liabilities, where these are grants payable, are not discounted as any such adjustment would be immaterial and due to the nature of the commitment.

3. Income from donations and legacies

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Endowment Total Total
funds funds funds
2025 2025 2024
2 £ £
Donations 650,000 650,000 13,675,000
Total 2024 13,675,000 13,675,000
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THE STONEYGATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

4. Investment income

	Unrestricted funds 2025	Total funds 2025	Total funds 2024
	£	£	£
Dividendsfrom listedinvestments	1,554,128	1,554,128	1,264,455
Intereston cash deposits	115,471	115,471	605
	1,669,599	1,669,599	1,265,060
Total2024	1,265,060	1,265,060

5.	Analysis ofexpenditure by activities
		Grant
		funding of activities 2025 £	Support costs 2025 £	Total funds 2025 £	Total funds 2024 £
	Grantmaking	1,679,231	15,612	1,694,843	3,033,629
	Total2024	3,011,496	22,133	3,033,629

Analysis of support costs

	Total funds 2025	Total funds 2024
	£	£
Depreciation	2,340	2,340
Audit fees	5,640	5,522
Website fees	4,605	4,410
Accountancy	1,560	1,558
Professionalcosts	1,467	8,303
	15,612	22,133

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THE STONEYGATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

6. Grants payable

	Total	Total
	funds	funds
	2025	2024
	£	£
Grants to institutions
Centre forSocial Justice	25,000	.
Duke ofEdinburgh	20,000	-
HarrisWestminster Sixth Form	10,000	50,000
Imperial CollegeLondon	49,907	47,321
Imperial College ofScienceTechnologyand Medicine	60,309	26,798
KidneyResearchUK	(433,170)	1,240,780
King'sCollege London	84,860	78,243
Lily Foundation ResearchAwards	51,845	20,332
LOROS	173,060	317,531
MQTransforming Mental Health	44,584	45,458
The Bridge Homelessness toHope	19,250	18,500
The Francis Crick Institute	21,252	33,325
The Rutland Lieutenancy	-	20,000
De Montfort University	27,000	24,000
Loughborough University -Scholarships	15,000	27,000
Newcastle University	75,887	51,856
Nottingham Trent University	38,428	12,805
Nottingham Trent University -Scholarships	-	24,000
Queen MaryUniversityofLondon	63,169	14,613
Queens Unversity Belfast	59,797	41,885
UniversityofCambridge	148,696	96,855
UniversityofCambridge - Philanthropic Gift	200,000	200,000
University ofCollege London	241,830	(13,980)
University ofCollegeLondon -Development Fund	114,596	160,949
UniversityofEast London	32,626	32,827
UniversityofEdinburgh	36,920	43,441
University ofLeicester - Empathic Healthcare	(388,414)	.
University ofLeicester - Kidney Lifestyle Research Project	192,136	42,500
University of Leicester - Scholarships	24,000	27,000
University ofManchester	9,963	29,737
UniversityofNottingham	28,772	-
University ofNottingham-CBTR	-	60,945
University ofNottingham -Scholarships	24,000	27,000
University ofOxford	50,734	41,626
University ofSheffield	.	19,576
UniversityofSouthampton	49,467	.
WestministerAbbey	333,333	-
UKResearchandInnovation	-	4,996

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1. Grants payable (continued)

Grants payable (continued)(continued)
Othergrantspaid	174,394	143,577
	1,679,231	3,011,496

if Trustees’ remuneration and benefits

There were no Trustees’ remuneration, expenses or other benefits for the year ended 5 April 2025 and the year ended 5 April 2024 other than those disclosed in note 18.

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THE STONEYGATE TRUST

	NOTESTOTHE FINANCIALSTATEMENTS
	FORTHEYEAR ENDED 5 APRIL 2025
8.	Tangiblefixed assets
		Software
		£
	Cost orvaluation
	At6April 2024	11,700
	At 5April2025	11,700
	Depreciation
	At6April2024	5,265
	Charge forthe year	2,340
	At5 April2025	7,605
	Netbook value
	At 5 April2025	4,095
	At5April2024	6,435
9.	Fixed asset investments
		Listed
		investments
		£
	Cost or valuation
	At6April 2024	21,462,698
	Revaluations	(3,196,782)
	At§April2025	18,265,916

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THE STONEYGATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED§ APRIL 2025

10. Debtors

	2025	2024
	£	£
Otherdebtors	1,021,767	1,003,298
	1,021,767	1,003,298

1. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Othercreditors	1,064,382	1,192,953
Accrualsand deferred income	8,669	13,938
	1,073,051	1,206,891

Other creditors above includes £1,064,382 (2024: £1,192,953) of grants committed to at the year end.

1. Creditors: Amounts falling due after more than one year

Other creditors

2026	2024
£	£
1,235,041	1,667,265

Other creditors above includes £1,235,041 (2024: £1,667,265) of grants committed to at the year end.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

==> picture [452 x 472] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |13.|Statement|of funds| |Statement of funds|- current year| |Balance at 6|Transfers|Gains/|Balance|at 5| |April 2024|Income|Expenditure|in/out|(Losses)|April 2025| |£|£|£|£|£|£| |Unrestricted| |funds| |General funds|-|1,669,599|(1,694,843)|25,244|-|-| |Endowment| |funds| |Endowment| |funds|19,633,057|650,000|-|(25,244)|(3,196,782)|17,061,031| |Total offunds|19,633,057|2,319,599|(1,694,843)|-|(3,196,782)|17,061,031| |Statement of funds|-|prior year| |Balance|at|Transfers|Gains/|__|Balance|at| |6 April 2023|Income|Expenditure|in/out|(Losses)|5 April 2024| |£|£|£|£|£|£| |Unrestricted| |funds| |General|funds|-|1,265,060|(3,033,629)|1,768,569|-|-| |Endowment| |funds| |Endowment| |funds|7,347,936|13,675,000|-|(1,768,569)|378,690|19,633,057| |Total|of funds|7,347,936|14,940,060|(3,033,629)|-|378,690|19,633,057|

----- End of picture text -----

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THE STONEYGATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Analysis of net assetsassets between fundsfunds - current yearcurrent yearyear
	Unrestricted funds 2025	Endowment funds 2025	Total funds 2025
	£	£	£
Tangiblefixed assets Fixedasset investments Currentassets Creditorsduewithinoneyear Creditorsdue inmorethanoneyear	4,095 1,204,885 1,099,112 (1,073,051) (1,235,041)	- 17,061,031 - - .	4,095 18,265,916 1,099,112 (1,073,051) (1,235,041)
Total	-	17,061,031	17,061,031
Analysis ofnetassets betweenfunds - prioryear
	Unrestricted funds 2024	Endowment funds 2024	Total funds 2024
	£	£	£
Tangiblefixed assets Fixed asset investments Current assets Creditorsduewithinoneyear Creditorsdue inmorethanoneyear	6,435 1,829,641 1,038,080 (1,206,891) (1,667,265)	- 19,633,057 - - ~	6,435 21,462,698 1,038,080 (1,206,891) (1,667,265)
Total	-	19,633,057	19,633,057

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

1. Reconciliation of net movement in funds to net cash flow from operating activities

==> picture [454 x 462] intentionally omitted <==

----- Start of picture text -----
2025 2024
£ £
Net income/expenditure for the year (as per Statement of Financial
Activities) (2,572,026) 12,285,121
Adjustments for:
Depreciation charges 2,340 2,340
Unrealised loss/(gains) on investments 3,196,782 (378,690)
Dividends, interests and rents from investments (1,669,599) (1,265,060)
Income attributable to endowment (650,000) (13,675,000)
Increase in debtors (18,469) (471,310)
(Decrease)/increase in creditors (566,064) (833,626)
Net cash used in operating activities (2,277,036) (4,336,225)
46. Analysis of cash and cash equivalents
2025 2024
£ =
Cash in hand 77,345 34,782
Total cash and cash equivalents 77,345 34,782
17. Analysis of changes in net debt
At 6 April At 5 April
2024 Cash flows 2025
£ 3 £
Cash at bank and in hand 34,782 42,563 77,345
34,782 42,563 77,345
----- End of picture text -----

18. Related party transactions

At 5 April 2025 1,967,250 shares were held in Dunelm Group Plc (2024: 1,967,250 shares), a company in which Sir W L Adderley, a Trustee, is a Director and Shareholder.

Included in professional fees is ENil (2024: £5,856) in relation to fees paid to Mr A S Walden, a trustee to 15 September 2023. These fees were paid to Mr A S Walden asa self-employed consultant to provide research on prospective grants payable and for monitoring services on actual charitable grants and associated matters.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

19. Transfers between funds

Under the terms of the Trust Deed, the Trustees have power in their absolute discretion to pay or apply the whole or any part of the Endowment Fund in furtherance and pursuance of the Trust's charitable purposes.

20. Contingent liabilities

The Trustees have expressed an intention, but not a firm commitment, to make grant payments for the following institutions:

Kidney Lifestyle Research Programme, £1,815,595 by March 2029 Kidney Research UK, £6,637,134 by March 2028 University of Cambridge, £437,500 by September 2027 Loughborough University, £93,000 by October 2025 De Montfort University, £57,000 by October 2027 University of Leicester, £54,000 by October 2027 Nottingham Trent University, £27,000 by October 2026 University of Nottingham, £57,000 by October 2027 LOROS, £363,429 by April 2026 Lily Foundation, £104,357 by September 2026 Rosetrees, £2,252,958 by May 2028 Westminster Abbey, £333,333 by December 2025 Oakham Foundation Award, £1,184,800 by April 2028

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