Charlty Reglstratlon No. 1143730 NINA AND ROGER STEWART CHARITA8LE TRUST TRUSTEES REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 NINA AND ROGER sfEWAKf CHARifA8LE TRusr LEGALAND ADMINISTRATIVE INFORMATION Trustses Lynette Craig Robert Craig Mis S Blrshan Charlty number 1143730 Pr5nclpal addr•ss clo Howard Kennedy LLP Nol London Brid8e London SEI 98G Independent exam5ntr TC Group 6th Floor King5 H￿$* 9-10 Haymarket London SWIY 48P United Kingdom Sollcltors Howard Kennedy LLP No. l London Bridge London SEI 98G In¥estment advlsors JM Finn & Co 4 Coleman Street London EC2R STA NINA AND ROGER 5fEWART cHAR￿ABLE TRUST Co￿ENTs Trustees report Independent examiner'5 report Statement of financlal attlvltle5 Balance sheet Note5 to the attounts NINA AND ROGER STEWART cHAR￿ABLE TRU TRUSTEES REPORT FOR THE YEAR ENDED31 AU6U5T2023 The trustees present ihelr report and accounts forthe year ended 31 August 2023. The accounts have been piepared In accordance ¥Mth the accounting policles set out In note I to the accounts nd comply with the trust's governing document. the Charities Act 2011 and the Statement of Recommended Practice. 'Accountin8 and Reportin8 by Charities.. issued in March 2(lJ5. Strurturetr governance and mana8ement The charity 15 an unincorporated body. constituted under a charity trust deed dated 19 Au8USt 2011 and Is a registered charity. number 1143730. The charity was established under the teims ol the Will of the late Nina Stewart who died on 26 June 2011. Trustees The charity deed provldes for a minlmum of no le$5 than two trustees, nor MO￿ thaTh five. The maximvm number of tfustees may be chan8ed by resdution of the Trustees at any tlme. The Trustee5 must hold at least two meetSngs each year. The trustees who Se￿ed during the year wwe.. Lynette Cra18 Robert Craig Mrs S 81rshan (Appolnted 16 February 20241 Sp•dfl¢ Investm¢nt These are Ilsted In the trust deed. The Trustees have FK*wer to invest the funds of the charlty as they in think fit. subjett to takln8 approprlate professlonal athbce. Rl$k •$Mssment The Trustees have examined the major risks to which the Charlty may be exposed. They consider that the principal rlsk to which the tharity is exposed is investmert rlsk, whith they minimise by having professional Investment managers. J M Finn & Co. The Trustees believe systems are in place adequate to meet such other potentlal rlsks as the Trustees ha¥e Identifled. Theycijntlnue to keep pr(￿$*$ under review. Oblettlves and artlvltles The tru5t'5 objects are are to benefit such registered th3ritie5 or charitable pvrposes and In such proportions and in such manner and subject to svch terms and condition5 as the Trustees in their absolute discretion thlnk fit from time to time. The Trustees propose to make a variety of donations to charitable orBaThi5ation5 w?rking in different fields, and very occasional donations to individuals appropriate for charitable support Publlc beneflt The trustees confirm that they have referred to the Charity Commi55ion'5 general 8uidance on public benefft when making donatlons and agreeing the distribution policy for the period. These objertive5 will continue to be pu¥5ue(S in the coming year. The trustees have pald due regard to guidance issued by the Charity Commission in deciding what artivities the trust should undertake. NINA AND ROGER STEWART CHARITABLE TRUST TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2023 Achlevements and perlormance During the year, donations totalling £70.150 were approved. The Trustees consider ihat these approvals represent an appropriate exercise of their discretionary powers. Flnan¢lal re￿eW The Trust's work is entirely reliant on income frrrfn donations and inveslment returns from its endowments. Rtserves poll¢v Any reserves are malntalned at the dlscretion of the Trustees. The Trustees aim to maintaln free reserves at a level that wll prowde sufficient funds to respond to applications for dortètK*ns and ensure that there are sufficient funds avatlable to cover 5UPPOrt and govemznce cos15. The Trustees confirm that assèts arè available and are adequate to fvlfll the obll8atlons of the charity. In¥estment pollcy and perforniance The investment policy of the charity is primarily to preserve the capltal of the charlty, at such leve15 to ensure that adequate income 15 returned to further the charity'5 objettlves. The investments held will continue to be monitored a8ainst the policy of thè eharlty to ensvre income and capltèl 8rowth remaln at satisfactory levels. Plans for the futur¢ The Trustees wlll keep thelr plans under wew in the light of the fundin8 available to the charlty. NINA AND ROGER 5fEWART CHARrrABLE TRU TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED31 AUGusf2023 Statement ol twslees responslbllltles The trustees are responsible for preparing the Trustees Report and the actovnts in accordance wlth appllcable law ènd United Kingdom Accounting Standards Iunited Kingdom Genetslly Accepted Accounting Prarticel. The law applicable to tharitie5 in England and Wales requires the trustees to prepare accounts for each finèncial year which give a true and fair view of the state of affairs of the trust and of the incorning re50vrce5 and application ol resources of ihe ifust for that year. In preparln8 these accounts, the trustee5 are requlred to: - select suitable accountin8 poliues and then zpply them consistentty; - observe the method5 and principles in thè Charitles SORP- - make judgements and estimates ihat are reasonable and prudent; stète whether applicable accountln8 Standards have been followèd. sublert to any materlal departures dlsclosed and explalned In the accounts. and prepare the accounts on the goln8 concern basis unle55 it 15 inappropriate to p￿5￿me that the chaflty wlll contlnue in operation. The tTU5tees are responsible for keeplng suffldent accountln6 records that dlsd05e with reasonable accurary at any time the financsal position ol the irust and enable ihem to ensure that the account5 comply with the Charities Act 2011, Ihe Chaflty IAccounts and Reports) Ae8ulatlons 2CI)8 and the provisions of the trust deed. They are also responsible for sèfe8uardin8 the assets of the chartty and hence for takln8 ieasonable steps for the prevenilon and detectlon of fraud and other irre8ularitie5. On behalf of the board of trustees Robert CraS8 Trustee NINA ANO ROfjER STEWART CHARITABLE TRusr INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NINA AND ROGER STEWART CHAR ￿ABLE TRU I report on the accovnts of the trust lor the yea¥ ended 31 AURUSI 2023, which are set out on pa8es S to 9. Respectlve respon5ibillties of trustees and examlner The charitV'S tVU5tees are responsible for the preparation of ihe accounts. The charily's tfU5tees consider that an audit is not required for ihSs year undei section 144121 of the Charities Act 2011 Ithe 2011 Acil and that an Independent examination 15 needed. It Is my reswnsibllity to- examine Ihe accounts ynder seciion 145 of the 2011 Act., lill to follow the procedures laid down In ihe eeneial Direclions8iven bythe Charity Commissh)n under se¢t5on 14515llbl of the 2011 Act.. and 11111 to stale whether partlcular matters have come to my attent1￿. Bo$1$ ol Independtnt examlner's report My examlnatlon was carrled out in accordance with the general O1￿¢110nS 8iven by the Charity Commission. An examination include5 3 review of the accouniin8 retords kept by the charity and a comparison of ihe accounts presented with those records. It a150 Includes consideration ol any unusual Items or dlsclosvres in the accounts. and seeking explanations from you ès trustees concernin8 any such matters. The procedures undertaken do not provide all the evidence that would be reqLTrired In an audit and consequentty no opinion is given as to whether the accounts present a 'true and falr vlew. a4)d the repon Is Ilmlted io those matters set out in the statement below. Independent examlner's Statement In conneclion wilh my examination. no rnatter has come to myattention.. lal which gives me reasonable tau5e to believe that in any material respect the reouiremenis.. 111 to keep èccouniing reeords in accordance with section 130 of the 2011 Aci.. and 1111 to prepare accounts which accord with the accountin8 records and comply wlth the accountin8 requirements of the 2011 Aci- have not been met.. or Ibl to which, in my opinion. attenlbon should be drawn In order to enable a proper understandlng of the accounts to be reached. TC Group D3vld Lelgh FCA 6th Floor Kings House 9-10 Haymarket London SWIY 4BP United Kingdom 11 September 2024 Dated.. NINA AND ROGER STEWART CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME ANO EXPENDITURE ACCOUNT FOR THE YEAR EAIDED 31 AUGU5T2023 Unrestrlded Expendable funds endowment Total 2023 Total 2022 Notes Incomln Investment income resource 147.098 147.098 145,572 Resources Costs of 8eneratln8 lunds Investment mana8ement costs 39.325 39,323 39,877 N•t Incomln¢ resources ¥vaSlabl¢ 107.775 107,775 105,695 Ch¥rttable actlvltl*s Donations paid 70.150 70,150 64,050 Governance costs 3,071 3.071 3,085 Total reSoU￿e$ expended 112.544 112,Y4 107,012 N¢t Incom• for th• y•arl Net IncomlnB resourt•s 34,554 34.554 38.560 Oth•r r•wnlsed 8•lns •nd10sses Galn5lllos5esl on investment assets 1556,1301 1556,1301 1803.4481 mov•m•nt In fvnd$ 34.554 1556.1301 1521.5761 1764,8881 Fund balances at I September 2022 Z58.385 6.714.047 6,972.432 7,737,320 Fund balances at 31 Au8USt 2023 292,939 6.157.917 6.450.856 6,972,432 NINA AND ROGER STEWARTCHARITABLE TRusr BAiANCE SHEEr ASAT31 AUGUST2023 zo 2022 Note5 Flxed assets Investmenis 6.040,537 6.618.176 Current assets Cash at bank and in hand Credltors.. amounts fallln8 due wlthln one ￿•r 416.319 357,256 {6,iirAIi 13.(ml Net current assets 410,319 354,256 Total assets less current Il¥bllltSes 6.450.856 6.972,432 Income funds Expendable endowment 6,157,917 6.714,047 Un￿strICted funds 292.939 258.385 6.450A56 6,972,432 The accounts were approved by the Trustees on... Robert Cr Trustee NINA AND ROGER sfEWART cHaR￿ADlE TRusr NOTES TO THE ACCOUIITS FOR THE YEAR EAIDED 31 AUGusf2023 Accountlng pollc5es 1.1 Ba$ls of preparatlon The accounts have been prepared under the histortcal cost con¥ention. The accounts have beèn prepared in accordan￿ with applicable accounting standards. the Statement of Recommended Pia(tice, "Attounting and Reporting by Charities", b55ued in March 2W5 and the CharllSes Act 2011. 1.2 Incomlng resou￿•$ Income is derived from donalions and Investment Income and Is a￿o￿nted for on the recelpt date. 1.3 Resources expended Donatlons are accounted for when they are paid. Expenditure incurred In connectlon wlth the speclftc activities of the charlty is Included untler the heading charitable artivities. Govemance cost5 are those costs Incurred by the charlty In order to meet statutory and rÈ8ulatory requirernents 1.4 ID¥estments Lt'sted investments are stated at market value at the balance sheet datt. Realised gains or lo5se5 are calculated as the dlfferenee between the dlsposal proceeds and the market value of the investment at the previous year end lor date of acquisition if pufchased durin8 the year). Unrèalised 8aSns N losses are calculated as the dWIe￿nCe between the market value at the current year ènd and the market value at thè prior year end lor date of acquisition if purthased durin8 the year.) Investments In subsidlary undertaklng5 are stated * cost less provislcffl for dlmlnution In value. 1.5 Expend3ble endovnnent In accordance with the Trust Deed the total value of investments is expendable. that is the Trustees have power to expend the capital and Income of the charity. Investment Incoffle 2023 2022 Income from listed investments Imerest recefvable 131172 141.926 142,916 2.656 147.098 145,572 NINA ANO ROGER STEWART CHARITABLE TRUST NOTES TO THE ACCOUNfs ICOPMNUEDI FOR THE Y&4R ENDED 31 AU6UST2023 Total resour¢e$ empended 2023 2022 Costs of 8enerat5ng funds Investment mana8ement Costs 39.323 39.877 Charltable artlvltles onatl ns Activities undertaken dirertty 70.150 64,050 Gob*man¢• ¢o$ts 3,071 3,085 IiZ.544 107.012 Governance costs Includes payments to the auditors of E3,(KKJ12022.. £3,CWI for attountancy fees. Trustees None of the trustees lor any persons tonnected with thèm) recei¥ed any remuneration or relmbursement of expenses ijurSn8 the year. Employees There wèrè no employee5 during the year. Flxed ass•t Inv•5tments Market value at I Septernber 2022 Disposa15 at openin8 book value Acqulsltions at cost Change in value in the year 6,618.176 11.304,0231 1,282,514 1556.1301 Market value at 31 Au8USt 2013 6,040,537 Historical cost.. At 31 Au8USt 2023 5,406,667 At 31 August 2022 5.535,869 NINA AND ROGER STEWART CHARITABLE TRU NOTES TOTHE Accouiifs ICOIMNUEDI FOR nlE YEAR EAIDE031 AUGU￿2023 Credltors: amounts fallln8 dut wlthln one ￿or 2023 2022 Accruals Analysls of net assets b¢lween funds Unre5trlc￿d Expendable *ndowment Fund balances at 31 Au8usi 2023 are represented bv.. Investments Current assets Creditors.. amounts fallin8 due within one year Expendable endowmeni 6,010,537 416.319 I6.C￿l 16,157,917) 6.040.537 416,319 16,0001 6.157.917 292.939 6,157,917 6,450,856