2025-07-31-accounts

Docusign Envelope ID: A3B0544F-4B69-4114-A341-50C76AFEED7B

Registered number: 08696283

STOREY’S FIELD COMMUNITY TRUST (A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025 Charity Number 1156017

Docusign Envelope ID: A3B0544F-4B69-4114-A341-50C76AFEED7B

STOREY’S FIELD COMMUNITY TRUST

CONTENTS

DIRECTORS AND ADVISORS ............................................................................................................................. 2 DIRECTORS’ REPORT ....................................................................................................................................... 3 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF STOREY’S FIELD COMMUNITY TRUST ................... 7 FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 JULY 2025 .....................................................................11 NOTES TO THE FINANCIAL STATEMENTS ........................................................................................................13

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STOREY’S FIELD COMMUNITY TRUST

DIRECTORS AND ADVISORS

Directors and Trustees

The directors of the charitable company (the charity) are its Trustees for the purpose of charity law. The Trustees serving during the year were as follows:

DIRECTORS

Jeremy Sanders Lily Bacon (Maria) Antonieta Nestor (resigned 1 April 2025) Simon Smith (resigned 1 April 2025) Mary Parsons Cheney Payne (appointed 28 May 2024, resigned 6 November 2024)

REGISTERED OFFICE Storey’s Field Centre Eddington Avenue Cambridge Cambridgeshire CB3 1AA REGISTERED NUMBER 08696283 CHARITY NUMBER 1156017

INDEPENDENT AUDITORS PEM Audit Limited Registered Auditors Salisbury House Station Road Cambridge CB1 2LA BANKERS Barclays Bank plc St Andrew’s Street Cambridge Cambridgeshire CB2 3AA

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STOREY’S FIELD COMMUNITY TRUST

DIRECTORS’ REPORT

Report of the Trustees for the year ended 31 July 2025

The Trustees are pleased to present their annual Trustees’ Report for the year to 31 July 2025 which is also prepared to meet the requirements for a Directors’ Report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).

Chair’s report

Storey’s Field Centre is a community facility in the heart of Eddington which acts as an arts centre, events and music venue, meeting place and community hub.

The Centre serves as a venue for the whole community with parent and toddler sessions; free coffee mornings; arts and crafts; exercise, yoga and wellbeing classes; and after-school activities including language learning and artistic endeavour. It hosts wedding ceremonies and wedding receptions of different denominations, wakes and other family and celebratory parties, corporate meetings and seminars. It promotes a range of arts events including rock and pop gigs, classical performances, comedy, dance, and drama. The Centre has been an active participant in the Eddington-wide food and drink, art and cycling-themed festivals.

The beautiful acoustic of the Centre’s Main Hall continues to attract amateur choirs, orchestras, and community and student musical ensembles to rehearse and perform at the Centre. The Centre has become a sought-after space for holding meetings by the University of Cambridge, Cambridgeshire County Council and other public service organisations, such as the Environment Agency, Anglian Water and UNEP-WCMC. The local community have held diverse celebrations at the Centre including children’s birthday parties, and larger events celebrating the Vietnamese New Year (Tet), and events by the Cambridge African Network and Ghanaian Association.

Commercial music promoters attracted by the gentle ambience of the Main Hall have staged rock, pop and folk music gigs and there have been regular concerts and day workshops by community choirs and musical ensembles. There have been art exhibitions, workshops on diverse activities such as food fermenting and lino printing, as well as film evenings and lindy-hop dances.

The Centre is used as a polling station for local authority and governmental elections.

The Centre has its own Business Continuity Plan in place. It also features in the plans of local organisations through its ability to provide, at short notice, shelter for local residents should they be displaced due to an unforeseen event or to offer an administrative base from which to coordinate recovery plans.

The founding members of the Storey’s Field Trust were Cambridge City Council and the University of Cambridge. The City Council gave notice that it intended to withdraw its membership of the Trust in order to focus its community centre activities elsewhere across the city. The two organizations worked closely with the Trustees over a 12-18 month period to secure a smooth transition to the sole membership of the University. The withdrawal took effect on 1 April 2025 with a deed of termination to the original Joint Venture agreement, revised Articles of Association and an agreed Community Access Agreement that provides for the future use and activity of the Storey’s Field Centre.

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STOREY’S FIELD COMMUNITY TRUST

DIRECTORS’ REPORT (continued)

The Service Agreement between the Trust and the City Council that provided City Council staff to the Centre was terminated in June 2025 when all of the existing Centre staff transferred employment to the University. The change in Membership of the Trust did not affect bookings, use of the Centre, or the staffing levels, and was designed to be an entirely ‘behind-the-scenes’ activity. The Trustees are grateful to the Centre staff for providing excellent service, continuity and care for the Centre’s users throughout the transition period.

The Storey’s Field Trust does not employ staff directly to manage the Centre and since the Trust membership change, the University provides the necessary staff, both in the Centre and back-office.

There have been no significant Health and Safety incidents involving staff or members of the public at events at the Centre. Any trips and mishaps are reported to the Trust.

Our purpose and activities

The objectives of the charity are stated in its articles as:

• (a) The advancement of community development and environmental improvement in particular through the provision of public access to and use of the Jointly Managed Open Land together with the Community Facility by, and for the benefit of, the residents, businesses, communities, visitors and the wider public in the area surrounding of the Jointly Managed Open Land, the neighbourhood, and elsewhere (including but not limited to the City of Cambridge and South Cambridgeshire District);

• (b) The promotion of volunteering and of voluntary and other organisations for the benefit of the communities local to the Community Facility and the Jointly Managed Open Land and the wider public;

• (c) The conservation, protection and improvement of the physical and natural environment of the Jointly Managed Open Land;

• (d) The conservation, maintenance and preservation of the Jointly Managed Open Land and the Community Facility;

• (e) The advancement of such other charitable purposes beneficial to the public, so far as consistent with the objects stated above, as the Trustees shall in their absolute discretion determine.

The Storey’s Field Centre achieves its objectives primarily through the provision of the Storey’s Field Centre for Community use. Residential and local groups are encouraged to use the facilities and small grants are available to assist in the establishment of such groups.

The open outside area adjacent to the building is available to the Centre for a range of outdoor activities.

The Centre building is built to high sustainability standards and is managed with waste and environmental considerations at the forefront.

Directors

The Directors who served during the year and up to the date of signing of this report were as follows: Jeremy Sanders

• Lily Bacon (Maria) Antonieta Nestor (resigned 1 April 2025) Simon Smith (resigned 1 April 2025)

• Mary Parsons Cheney Payne (appointed 28 May 2024, resigned 6 November 2024)

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STOREY’S FIELD COMMUNITY TRUST

DIRECTORS’ REPORT (continued)

Financial review

The results for the period show income received in the year of £377,878 (2024: £352,739) and a deficit of £758,259 (2024: surplus £18,233), results shown on page 10. It has been an exceptional year with the change of Trust membership which involved a re-valuation of assets, putting the Centre building at a £Nil value, resulting in a leasehold impairment of £800k. The Creditors (note 11) include accruals for repayment of salaries under the previous organisational structure, which were not fully invoiced until after year end (£246,284). Subsequent years should not see such high levels of movement on the Creditors balance as invoices for salaries will be monthly from the University.

Reserves policy and going concern

At July 2025 Storey’s Field Community Trust had reserve deficit of £15,294 (2024: surplus £742,965). The Trust’s current target is to achieve break even on its receipts in the accounts relating to funds provided to Storey’s Field to meet its operational deficit, these funds are provided by the University of Cambridge. These accounts have been prepared under the going concern basis as the Trustees have received confirmation that the University of Cambridge intends to support the company for at least one year after these Financial Statements are signed.

Principal risks and uncertainties

The Trustees have a responsibility to monitor, disclose and where feasible manage the major risks and uncertainties facing the Charity. The Trustees maintain and review regularly a Risk register. Major risks identified are:

• The Charity attaches greatest importance to the safeguarding and Health & Safety of its staff and Centre users.

• The Charity monitors Centre utilisation risk at every Trustee meeting.

• The Charity also faces a range of operational risks in its daily affairs and has both established, experienced and a well-resourced management team in place to address them.

Through its Trustee meetings, the Charity monitors and manages all these risks to the best of its ability. The Charity maintains a risk register which is reviewed at least annually by the Trustees.

The Trust had 6 Trustees, 3 Trustees appointed from Cambridge City Council and 3 Trustees appointed by the University of Cambridge, up until April 2025. From April 2025 the City Council ceased to be a Member of the Trust and the two remaining City Council appointed Trustees resigned their positions. Training and induction is offered and provided to Trustees in order to fulfil their duties as Trustees.

Governing documentation

Storey’s Field Community Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 September 2013. Storey’s Field Community Trust is a registered charity with the Charity Commission (Charity number 1156017).

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DIRECTORS’ REPORT (continued)

Statement of Trustees’ responsibilities

The Trustees (who are also directors of Storey’s Field Community Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law (United Kingdom Generally Accepted Accounting Practice). 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 the affairs of the charitable company and of the incoming resources and application of resources, including the 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 then apply them consistently;

• observe the methods and principles in the Statement of Recommended Practice: Accounting and Reporting by Charities (2015);

• make judgments and estimates that are reasonable and prudent;

• state whether applicable UK 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 adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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 charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In the case of each director in office at the date the Directors’ report is approved, that:

(a) so far as the Trustee is aware, there is no relevant audit information of which the company’s auditors are unaware; and

(b) The Trustee has taken all the steps that they ought to have taken as a Trustee in order to be aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

By order of the Board of Trustees

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Jeremy Sanders

Date: 18 March 2026

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STOREY’S FIELD COMMUNITY TRUST

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF STOREY’S FIELD COMMUNITY TRUST

OPINION

We have audited the financial statements of Storey’s Field Community Trust (the ‘charitable company') for the year ended 31 July 2025 which comprise the Statement of Financial Activities (incorporating the income and expenditure account), the Balance Sheet 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).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 July 2025 and of the incoming resources and application of resources, including its income and expenditure 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 Companies Act 2006.

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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.

OTHER INFOMRATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor’s Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other 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.

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STOREY’S FIELD COMMUNITY TRUST

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees’, which includes the Directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Directors’ report included within the Report of the Trustees’ has been prepared in accordance with applicable legal requirements

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees’.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• the charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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STOREY’S FIELD COMMUNITY TRUST

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

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 Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the charitable company through discussions with trustees and other management, and from our commercial knowledge and experience of the sector;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the Companies Act 2006, Charities Act 2011 and taxation legislation;

• in addition, we considered provisions of other laws and regulations which do not have a direct effect on the financial statements but compliance with which might be fundamental to the company's ability to operate or to avoid material penalties;

• we made enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

• we assessed the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur; and

• laws and regulations identified were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

As a result of the above risk assessment procedures we identified the greatest risk of material misstatement on the financial statements arising from irregularities and fraud to be within the potential for management to override controls together with the risk of fraudulent revenue recognition. We considered the risk of fraudulent revenue recognition to be most prevalent in the completeness of revenue. In response to these identified risks, we designed procedures which included, but were not limited to:

• performed analytical procedures to identify any unusual or unexpected relationships;

• performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business;

• assessed whether judgements and assumptions made in determining the accounting estimates set out in note 4 were indicative of potential bias;

• we used Audit Data Analytics to review the client data for unusual journals;

• performed substantive testing for a sample of transactions from source documentation including CRM records to invoices and receipts to ensure that all income was appropriately recognised in the correct period and any restrictions appropriately recognised.

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STOREY’S FIELD COMMUNITY TRUST

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS (CONTINUED)

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• assessing the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

• discussing with management and those charged with governance as to actual and potential litigation and claims; and

• reviewing documents made available to us such as internal reports and correspondence with relevant regulators.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Auditor’s Report.

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor’s 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

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Kelly Bretherick (Senior Statutory Auditor)

for and on behalf of PEM Audit Limited

Registered Auditors Salisbury House Station Road Cambridge CB1 2LA

Date: 18 March 2026

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STOREY’S FIELD COMMUNITY TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 JULY 2025

Statement of Financial Activities (including income and expenditure account) year ended 31 July 2025

Note Income Income from charitable activities Income from room hire for events Income from Grant Total income 5 Expenditure on charitable activities Event costs Administrative expenses 6 Total expenditure Net expenditure and net movement in funds for the year Reconciliation of funds Total funds deficit brought forward Transfer from Revaluation Total fund deficit carried forward (before other gains / losses) Movement on Revaluation of Fixed Assets – separate Revaluation reserve	Year to 31 July 2025 £ 177,878 200,000 377,878 (36,120) (1,100,017) (1,136,137) (758,259) (899,893) 747,858 (910,295) (747,858)	Year to 31 July 2024 £ 152,739 200,000
		352,739 (30,634) (303,872)
		(334,506)
		18,233 (926,046) 7,920
		(899,893)
		(7,920)

The statement of financial activities include all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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STOREY’S FIELD COMMUNITY TRUST

Balance sheet as at 31 July 2025

Note Fixed Assets 9 Current assets Stock Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current Assets Net assets The funds of the charity Called-up share capital 12 Unrestricted Funds 13 Revaluation 13 Other Non-distributable Reserve 13 Total charity funds	2025 £ 1,626 1,678 227,670 114,603 343,951 (360,871) (16,920) (15,294) - (910,294) - 895,000 (15,294)	2024 £ 753,420 2,266 65,920 59,221 127,407 (137,862) (10,455) 742,965 - (899,893) 747,858 895,000 742,965

The notes on pages 12 to 18 are an integral part of these financial statements.

The financial statements on pages 10 to 18 were authorised for issue by the board of directors and were signed on its behalf by:

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…………………………………………..

Jeremy Sanders Director

Date: 18 March 2026

Storey’s Field Community Trust Registered Number: 08696283

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STOREY’S FIELD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS

1. General information and legal status

The company is a private company limited by guarantee and is incorporated and domiciled in England. The address of its registered office is Eddington Avenue, Cambridge, CB3 1AA.

2. 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) and the Companies Act 2006.

3. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follow:

a) Basis of Preparation and Going concern

The accounts have been prepared on the Going concern basis. Storey’s Field Community Trust is in a net deficit position as at 31 July 2025. The Trustees have received confirmation that the University of Cambridge intends to support the charity for at least one year after these financial statements are signed. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Exemptions for qualifying entities under FRS 102

FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with, including notification of, and no objection to, the use of exemptions by the Company’s shareholders.

The Company has taken advantage of the following exemptions:

• (i) from preparing a statement of cash flows, on the basis that it is a qualifying entity.

• (ii) from disclosing transactions with other wholly owned Group companies as stated in paragraph 3.1A of FRS 102: Related party disclosures.

• (iii) from disclosing detailed information on financial instruments as set out in paragraph 11.41 of FRS 102: Categories of financial assets and financial liabilities, on the basis that it is a qualifying entity.

c) Foreign currency

(i) Functional and presentation currency

The company’s functional and presentation currency is pound sterling.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

d) Income recognition

• (i) Room Hire Income

Room Hire Income is recognised on the accruals basis. Where cash is received in advance of the event, this is recognised in deferred income. Where cancellations are made in line with the cancellation policy then full refunds are issued.

(ii) Bar & Catering Income

Bar & Catering Income is recognised on the accruals basis. Where cash is received in advance of the event, this is recognised in deferred income.

• (iii) Grant Income

Grant Income is recognised on the accruals basis in line with the underlying agreement. Where cash is received after the period to which the income relates, this is recognised in accrued income.

e) Financial Instruments

• (i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, are recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

• (ii) Financial Liabilities

Basic financial liabilities, including trade and other creditors, are recognised at transaction price, unless the arrangement constitutes a financing transaction, where a debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

f) Fixed Assets

Office equipment, Furniture & Fixtures and IT equipment over £1,000 are initially recorded at cost, and subsequently recorded at cost less any accumulated depreciation. Depreciation is calculated to write off the cost of an asset less its residual value, over the useful economic leasehold length of life of that asset as follows:

Office equipment – 7 years Furniture & Fixtures – 7 years IT equipment – 3 years

The company holds a long leasehold over the Storey’s Field Centre property which has been stated at the initial leasehold interest valuation less any subsequent depreciation and accumulated impairment losses.

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STOREY’S FIELD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

Land is not depreciated. Depreciation on buildings is calculated, using the straight-line method, to allocate the cost to their residual values over their estimated useful lives, as follows:

• Long leasehold property over the remaining lease period.

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

g) Prepayments

Prepayments are amounts paid in advance for services that have not been performed at the balance sheet date.

h) Accruals

Accruals are recognised when the company has a constructive obligation as a result of past events; it is probable that an outflow or resources will be required to settle the obligation; and where the amount of the obligation can be reliably estimated.

4. Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical judgements in applying the entity’s accounting policies

The company makes no critical judgements in applying the entity’s accounting policies.

(b) Critical accounting estimates and assumptions

The company makes critical accounting estimates or assumption concerning the future, in relation to useful life of fixed assets, depreciation rates (Note 9), bad debt estimate (see note 10) and Leasehold Property valuation (Note 9).

5. Retail, Hospitality and Leisure Grant

Analysis of income by category Room Hire Bar Income Catering Income Grant	2025 £ 127,786 29,180 20,911 200,000 377,877	2024 £ 110,510 30,828 11,401 200,000
		352,739

All income is generated in the United Kingdom

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

6. Analysis of expenditure on charitable activities

Staffing costs TFM Fees Office Costs Marketing and Website Development Legal Audit Insurance Leasehold Impairment Depreciation Total	2025 £ 226,530 43,281 54,743 5,166 480 8,948 9,076 800,000 (48,206) 1,100,017	2024 £ 179,512 45,226 42,347 4,295 45 7,700 12,542 12,205
		303,872

7. Directors’ emoluments and employee information

No directors’ emoluments were incurred by Storey’s Field Community Trust in the current or preceding period. The company has no other employees (2024: none).

Staffing costs incurred relate to staff provided by a third party.

8. Corporation tax

The charity is exempt from tax on income and gains falling within section 478 to 488 of the Corporation Tax Act 2010, or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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Docusign Envelope ID: A3B0544F-4B69-4114-A341-50C76AFEED7B

STOREY’S FIELD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

9. Fixed Assets

Cost/Valuation Brought forward at 1 August 2024 Additions Revaluations Disposals Closing Balance at 31 July 2025 Depreciation Brought forward at 1 August 2024 Depreciation Disposals Closing Balance at 31 July 2025 Net Book Value At 31 July 2024 At 31 July 2025	Long Leasehold Property £ 800,000 - (800,000) - - 52,142 (52,142) - - 747,858 -	Office Equipment £ 1,752 - - - 1,752 1,545 178 - 1,723 207 29	Furniture & Fixtures £ 25,586 - - - 25,586 20,432 3,613 - 24,045 5,154 1,541	IT Equipment £ 9,801 - - - 9,801 9,600 145 - 9,745 201 56	Total £ 837,139 - (800,000) -
					37,139
					83,719 (48,206) -
					35,513
					753,420
					1,626

Leasehold property refers to the Storey’s Field Centre property. This property was transferred to the trust for zero cash consideration as part of the North West Cambridge S106 commitments. The leasehold interest was revalued in February 2025, using market-based evidence for similar leased properties in the local area, which has resulted in holding the property at zero valuation.

No future lease payments are required for the duration of the lease and so no liability for rentals payable has been recognised separately in the balance sheet.

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Docusign Envelope ID: A3B0544F-4B69-4114-A341-50C76AFEED7B

STOREY’S FIELD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

10. Debtors

Amounts owed by group undertakings Trade debtors Other debtors Prepayments	2025 £ 200,471 12,742 6,822 7,635 227,670	2024 £ 50,274 4,741 6,471 4,434
		65,920

Trade debtors includes a provision for bad debt of £9,171 (2024: £6,364)

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

11. Creditors: amounts falling due within one year

Amount owed to group undertakings Deferred income Accruals Other creditors	2025 £ 66,987 12,516 270,881 10,487 360,871	2024 £ 52,982 6,545 72,495 5,840
		137,862

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

12. Called up share capital

Storey’s Field Community Trust is a company Limited by guarantee and as such does not have any share capital.

13. Reserves

Opening Balance 1 August 2024 Deficit in period Transfer Drawdown	Unrestricted Funds £ (899,893) (758,259) 747,858 - (910,294)	Revaluation £ 747,858 - (747,858) - -	Other Non- distributable Reserve £ 895,000 - - - 895,000	Total £ 742,965 (758,259) - -
				(15,294)

Unrestricted Funds includes all current and prior year retained surplus and deficits. Revaluation represents the revaluation of donated assets. Other non-distributable reserves represents advances made to the charity to cover its running costs.

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Docusign Envelope ID: A3B0544F-4B69-4114-A341-50C76AFEED7B

STOREY’S FIELD COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

14. Related party transactions

The company is exempt from disclosing related party transactions as they are with other companies that are wholly owned within the group.

15. Parent Undertaking

The ultimate parent undertaking and ultimate controlling party is The Chancellor, Masters and Scholars of the University of Cambridge, which is the parent of the smallest and largest group of undertakings to consolidate these financial statements. Copies of The Chancellor, Masters and Scholars of the University of Cambridge consolidated financial statements can be obtained from the Company Secretary at The Old Schools, Trinity Lane, Cambridge, Cambridgeshire, CB2 1TN.

16. Post Balance Sheet Events

There has been no post balance sheet events of materiality.

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