Charity registration number.. 1162893 The Stone Foundation Annual Report and Financial Stateménts for the Year Ended 31 March 2025 Field Sullivan Limited 9 Hare & Billet Road Blackheath London SE3 ORB The Stone Foundatlon Content5 (continued) Reference and Administrative Details Trustees, Report 2to13 Independent Examlner's Report 14to Statement of Flnancial Activitiés 16 Balance Sheet 17 Cash Fl¢)w Statement 18 Notes to the Flnanclal Statements 19to29 The Stone Foundatlon Reference and Admlnlstrative Details Chalrman Liam Mackinder Trustees Nichola5 Jarrold Jane Evans Liam Mackinder Ange13 Thompson Joanne Stanley-8ell 1162893 Charlty Règktrat5on Nurnber Princlpal Office Sproughton House Sproughton Ipswich Suffolk IP8 3AW Independent Examlner FSeld Sullivan Llmlted 9 Hare & Billet Road Blackheath London SE3 OR8 Bankers Lloyds Bank PIC 9 Buttermarket Bury St Edmunds Suffolk IP33 IOF Page I The Stone Foundation Tyustees, Report The Trustees present their report 31ong wlth the flnancial statements ol The Stone Foundation lor the 12-month perlod ended 31 March 2025. The Financial Statements have been prepared in accordance with the accounting pollcies set out on pages 19- 218nd comply wlth the Foundation's Constitution and applicable law. Strudure, Governance and Management The Stone Foundatlon 15 a Charltable Incorporated Organisation ICIOI constituted on 28 July 2015. It Is registered charity no. 1162893, and the prlncipal office is First Floor Sprou8hton House. Sprou8hton Sullolk IP8 3AP. The Trustees who have served during the period and since the perlod end are set out In the Ilst below. All the Trustees have been appointed lor a period 013 years. Trustftes and offlcers The trustees arid officers servlng during the year and slnce ihe year end were as follows.. Trustees.. Rob Morrls (resigned 12 September 20241 Nlcholas larrold lappolnted 27 June 20241 Jane Evai)5 Liam Mackinder Angela Thompson Jean Poole (resigned 27 lune 20241 Chrls Poole (resigned 27 lune 20241 Sam Poole Ireslgned 27 June 20241 Stephen Broughton Iresigned 27 June 20241 Joanne Stanley-Bèll (appointed 12 September 20241 Chalrman.. Rob Morrls Ireslgned 12 September 20241 Ljam Mackinder Where there is a requlrement for new Trustees, thls would be iderEtified by the remainlng Trustees. In sele£ting individuals lor appointments as charity Trustees, the Trustees must have regard to the skills, knowledge and experience needed lor the effective adminlstration of the CIO. The Trustee5 meet on a regular basis to review and agree on major declsions and monltor the business plan. The role ol the Board of Trustees Is princip311y to.. ensure thatThe Stone Foundation has a clear vision, mis55on, and strategic dlrection., and monitor and support the Chief Executive ICEOI to achieve these objectives. The day-to-day running of the Charlty is delegated by the Trustees to the Chief Executive. The Trustees and the CEO havejoint responsibility for identifying and managing the major risks whlch are likely to allect the lon8-term viabSllty of the Charltv. Page 2 The Stone Foundatlon Trustees, Report {continuedl Risk Management The Trustees have ex3mined the major strategic, business, and operational ¥1sks whlch the Foundatlon faces and confirm that systems have been estatrjlished in the form of a Buslness Development Plon. Regular reports are produced lor each Board Meetin8, $0 that such rlsks are continuously monlto¥ed and that appropriate steps can be taken to lessen these rlsks. Oblefllves and ActSvltles The oblective5 01 the Foundation are to relieve the financlal hardship tsf people who are in need, living in Essex, Norfolk, and Suffolk, through the provlslon of housing and associated support seNlce5. Our key objectives can be detailed as.. Relieving homelessness, Helping vulnerable indiwduals to access accommodation, which includes ourTenancy Tralning Course Ready Steady Rent, Helping individuals and Local Houslng Authoritie5 by providin8 move-on accommodatlon from SUPPOrted housing Publlc Bèneltl In rneeting the Foundation's objectlves, the trustees confirm that they have complled with the requirernents of Section 17 of the Charlties Act 2011 to have due regard to the publlc benefit guldance publlshed by the Charlty Commissltsn for England and Wales. Achlevements and Perlormance Accommodotlon The Stone Foundation is responslble lor the lease and full housing management of twenty-four propertles, providing 74 units ol accommodation. During the financial year we lost one property, a one-bedroom flat because the landlord requSred the property back to sell on the open market. A new leasing opportunlty has arlsen recently,. a six-bedroomed property, we are stlll awaiting ftner detalls of how referrals to the property will work before we sign a le3se agreement. All of our ellgSble tenants are In receipt of full Housing Benefit, due to their enduring rnent31 conditions, whlch meet most of the Tent cost and service char8es. On occaslons their income may exceed the savln8S threshold at which point they wlll be expected to pay full rent themselves or through an appolntee. Th@ Stone Foundatlon remalns open to acquiring more properties, including those needing renov3tion, to support vulnerable or homeless individu315. However, hlgh rental demand and rising mortgage rates mean private landlord5 can charge higher rents than what we can offer. Th15, along with economlc and regulatory pressures (like tax changes, EPC requirements. and the new Renters Reform Bllll, has made property leasing from prlvate landlords more challenging. Ready 5teudy Rent Following the CEO'S vision to enhance the accessSbility and impact of the Ready Steady Rent pre-tenaney traininB, 518niflcant irnprovements have been implemented Sn both the format and delivery ol the programme. Thls has been posslble due to the recrultment of a visionary Trainlng Manager who has Implemented many changes for the benellt ol attendees. Page 3 The Stone Foundation Trustees. Report {continuedl After last Veèr's successful relaunch, we have malntaSned proactlve engagement wlth all Sullolk local authorities. We have continued to secure funding for the dellvery of this course. We are pleased to report that co113borative delivery is ongoing with four local authorlties. along wlth two housing associatlons. Feedback has been overwhelmingly positive. Furthermore. formal Servlce Level Agreements have been est2blSshed with all participating partners, committlng to the delivery of multiple Ready Steady Rent courses and the payment of some income. The income contributes to the cost of the courses and ha5 paid for the maklng of ninè professional videos for attendees to access after the eour5e. Assessing Success Accommodutlon Our success Is measured on the one hand by the slze of our portfolio, occupancy rates and margins on propert(es. Occupancy levels durlng this financial year have been very healthy wlth an overall average of 87%. In Ilne with our Buslness Developrnent Plan, we aim to have all properties 80% occupied. Below is some information relatlng to occupancy at various projects lor the financlal year 24125. Gippeswyk Rd occupancy percentage April 24- March 25 (Average 910/) i(x) 90 85 80 75 70 65 55 50 1 3 5 7 9 111315 171921232527293133.153739414345474951 Hatfield Rd ocupancy percentage April 24-March 25 {Average 920/0 Ico 95 85 80 75 70 65 50 1 3 5 7 • 11 13151719212325272931.43353739414345474951 Page 4 The Stone Foundatlon Trustees, Report {contlnued) Foxhall Rd occupancy percentage April 24-March 25 (Average 859/0 95 91) 85 80 75 70 65 60 55 50 1 3 5 7 9 11 l315171921232527293133353739414145474951 Combs occupancy percentage April 24-March 25 (Average 83/.1 95 90 85 80 75 70 65 60 95 50 1 3 5 7 9 111315171921232521293133353739414345474951 Page 5 The Stone Foundation Trustees, Report (contlnuedl Sudbury occupancy percentage April 24-March 25 (Average 89/1 120 Ico 80 Go 40 20 1 3 S 7 9 JI IJ1517192123252729413J353769414345474951 Lowestoft occupancy percenta8e April 24-Mar 25 (Average 83Yg 120 80 60 20 1 3 5 7 9 IIIj15111921232527293133353139414345414951 Page 6 The Stone Foundatlon Trustee5' Report Icontlnuedl The success ol the Ready Steady Rent courses contlnues to be measured by both the number ol attendees completing the training and rhe positive outtomes achieved thereafter. Engagement and partnershlp development with local authoritie5, housin8 associations, and other 5tskeholders mains a key prlority. During the financial year, slxty-six referrals were reteived. includlng four young couples. The tralning has been delivered through a range of tallored formats, Includlng on&to-one sessions for indivldu31s with complex need5 such as addictlon, offendlng hlstorles, and rough sleeping, as well as srnall group sesslons for new tenants and larger cohorts of 18-21-year-olds in supported aceommod8tion preparing lor independent Ilvlng. Improvements are ewdent, but systemlc challenges namely limited referrals and statlc transltional housing from hostels still pose si8niflcant concerns. Prihtlpal Rlsks The main risk to the Foundatlon Is a reduction in overall occupancy rates. This is mitigated through varlous pwocesses and procedures includlng regular property inspections and Immediate actlon in terms of tenant neglect or damage to ensure service user satlsfaction 3nd to reduce void times due to repalrs h3￿ng to be undertaken. Prlor to obtainlng additional properties, research is conducted to ensure there is demand for the service. Tenancy training aims to Increase tenants. under5tandin8 of the responsibilities of managing a tenancy. which In turn aims to minlmise the risk of eviction. All tenants rnoving into our communlty flats and moving on frorn supported housing are encouraged to attend the training. New Hardshlp Fund On 24th October 2024, the 8oard of Trustees approved the establlshment ol a P¢ardsh5p Fund to support The Stone Foundatlon and its stakeholders in time5 of acute financlal difficulty. The fund. which is to be flnanced from existing reserves and interest accrued from investment5. was Initlally set at £1,000 for the financial year 2024125. It is Intended strirtly for emergency use only and reflects the organlsation's commltment to responding compassionately and promptly to urgent needs, particvlarly In light of ongoing tost-of-liwng pressure5. Declslons Major decisions are discussed and agreed at Board meetSngs whlch take place every 6 weeks. Inductlon Tral*lng of Trustees The process for indurting Trustees 55 slmple and stralghtforward. The CEO and Chalr will provlde a brlef on the organSsatlon, board functlon and meetings and the expecterj role of the indivldual concerned. All Trustèes receive the Charity Commission's Guide 'The Essential Trustee a copy of the Constltution. previous mlnutes and any other relevant information. The prospective Trustee Is invited to a board rneeting in an observer capacity to rneet the other Trustees, and wce versa. P88e 7 The Stone Foundatlon Tru5tees' Report (continued} Grant Fundin8 and Fund Ralslng The Foundation does not have an official fund ralser this is part of the role of the CEO, who w511 seek appropriate fund-glvlng bodles and submit bids. Trustees opt to raise funds Individually or suggest fund raising strategies as part of their role on the Board. The Foundatlon subscribes to a grant aiding organisation The Giving Machlne. During thi5 financial year we were successful in getting grant fundln8 from three organi5ation5 With additional funding carrled forward from 23124. ThSs grant funding totalled £16.000 of which E12,750 was carried forward. Financial Review Far the year ended 31 March 2025. the Foundation had a surplus of £76,42812024.. E122,4501. This is on gross income of E941,80812024.. £883,682). On 31 March 2025, the Foundation held resetves totalln8 £273,089 12024.. £196.6611. Total rental income for the yèar was £899.87012024., £840,827). The spllt on this Is approxlrnately 89%111% housing benefitltenant contrlbution. The property-related costs lor the Foundation are for the most part fixed in relation to its capacity to rent accommodation. Page 8 The Stone Foundatlon Tru5tees' Report (continued) NÈW Financlal Pollcv TSF implemented a cornprehensive Ilnancial pollcy and procedure designed to enhance support for staff and gulde 5trate8ic linanclal decision-making. Thi5 Was approved on 12 September 2024. Financlal Pollcy Summary.. Purpose To ensure strong 1Snanclal rnanagement in support of TSF'S charitable mission. Flntjnclttl Goals Target IO% annual surplus Sustaln key setvices through stabie income. Governonte Flnanci31 Year.. Aprll-march Audit.. Annual., reporLed to Board wlthln six months Roles.. • Trustees.. Ove￿18ht & approvals • CEO.. Dally managernent & compliance Finance Manager.. Systems. reports, auditor liaison. ReseNes old unrestricted reserves for stability and growth. Designated and re5tr¢cted fund5 used as specified. Controls & Procedures • Clear separation ol duties • Annual budget with forecast5 and risk revlew Spending withln budget.. CEO approves over £250. Procurement.. 0 £500+'. I quote 0 £2,000+.' 2 quotes o £IO,OCO+'. 3 quotes secure cardlcash handling and dual banklng 51gnatories Reporting & Records Regular linancièl updates to Board All records kept for G years. Monthly bank reconclliation5 Stoff Payments Monthly salaries rewewed annuallv. • Monthly mileage and expenses CEO signs off. Page 9 The Stone Foundation Trustees, Report {contlhuedl Rèsèrves Pollcy The Foundation's current fundlng is adequate to support its oblectlves, with an 85% occupancy forecast generating a surplus to grow reserves. At 80% we break even. Adjustments to rents and service charges have helped mltlgate risin8 Utility costs. All Income for Re3dy Steady Rent Is ring-fenced for that purpose, Including fe5tricted grants. For 2024125, the re5etve target has Increased to £225.000 to cover three to six months of operatlon31 costs. Deslgnated Funds As part of our comrnltment to responsible property management and long-term sustainability, the Trustee5 have agreed that from the financi81 year 2024125 onward5, TSF will designate £20.000 annually from its reserves to support a rolllng refurbishment programme lor ou¥ leased propertie5. This strategic allocatlon reffects our duty as a responsible landlord to malntain our properties in good condition, ensuring they remain sale. function31, and welcomlng for our tenants and servlce user5. Regular refurbishment not only preserves the value and usabllity of our assets but 31so helps prevent costly emergencv repairs and supports the Dverall wellbeing ol those who rely on our facilitles. This proactive approach align5 Wlth our broader organlsational goals of susta1nablllty, service excellence, and financlal prudence. It is agreed that TSF could desSgnate £IO,O(K) from reserves for a full redeslgn and redevelopment of our webslte. In today's digital age, our charlty urgently needs a modern. well-de5igned website. The current one is utdated and Sneflectlve. A revamped site would help us clearly communicate our rni5sion, showcase our impact throu8h storles and updates, and seNe as a central hub for services and resources. It should improve accessibility. With Integrated fundralslng tools, it can boost donations. Investing in this inf¥astructufe Is key to expandlng our reach and advancing our mission. Investment Poll¢y The CEO and the Finance Manager monStor the bank account and report re8ul3rly tts the Treasurer and Board. Where we have excess funds that are not required for around 6 months we look to eam interest. During the vear £150.000 was deposited In a Ilxed rate account. As the charlty's finanaal stability strengthens. we will be lookin8 to deposit further sums and open new bank accounts so we can earn interest for the benefit of the charity. We are mindful of the Financial ServSces Compensation Scheme IFSCSI deposit protection lirnit. In the UK, the FSCS protects up to £85,000 per person, per authorised financial Snstltutlon if a bank, buildlng society, or credlt union falls. It is considered prudent to distrlbute funds across multlple financlal institutions that operate under separate banking Ilcences In order to ertsure full protectlon under the FSCS. Going Concern The Trustee5 h3ve considered the current occupancy and rental Income levels and concluded that there are sufficlent resources available to allow the Foundatlon to continue to operate for a period of at least twelve months. The Trustees therefore believe that the going concern basis is an appropriate basi5 for these flnancial statement5. Page 10 The Stone Foundatlon Trustees, Report {contlnuedl Plan5 Oblectlves from our Busines5 Development Plan 24125.. TSF staff and volunteers are well managed and there are hlgh levels Of job satlsfaction and staff retention. Occupancy levels are malntalned at or above 80%. Rents are reviewed and adjusted annu311v. Bad Ilebt15 further reduced. Ready Steady Rent is funded via 8rants. fundralslng and income. TSF achieves hlgh levels of satlsfaction from service user5. Ra15e the profile ol TSF through posltfve engagement with organisatlon5 and the wider publlc. Ready Steady Rent has a posltive impact on Improvlng outcomes for tenants and it has continual growth with stakeholders. The Trustees and staff wlll continue to seek additional properties to provlde further supported accommodation on lavourable temis. The Sttsne Foundation remains hopeful of promoting and Increasing the success of Ready Steady Rent still further and following the end ol the financlal year have started conversations with the local probation service and the Justlce Department to be able to dellver to that ex offender cohoit Isubjert to fvndingl. Durtn8 the linancièl year 24125 two new trustees were appointed as follows.. Nlcholos Jorrold has approximately 20 years ol rnarketin8 experlence aeross a range of sector5. Wlth a particular emphasis on external cornrnunlc&tions. He also p055esses expertise In website management and event coordination. The Board unanimou51y 38reed that his sklll set will be a valuable asset to the Stone Foundatlon. Jotinne Sttsnley-Bell has held a range of senior roles throughout her career, including Teacher, Head teacher, and Director of Educatlon lor an Academy Trust. She now works as a coach, supportlng school and organisatlonal leaders in developing the￿r skills. confidence, and resilience. The Board unanlmously agreed that her experience and expert15e will be of significant value to the Stone Foundatlon. The Board Is encouraged by the progress made by the current staff team In tontributing to improved finandal stabllity and the continued growth in uptake of the Ready Steady Rent programme. In recognltioll of the importance ol ret3ining high-perlormlng stall. locus has now shlfted towards measures that Support employee satisfaction and development. The CEO has taken steps to enhance the organisatlon'5 employee beneflts framework, including th& formal Implementatlon of structured pay scales and the introduction of an enhanced nnual leave policy based on a 51idln8 scale. The organi5ation remains committed to offering costed employee beneflt5 as a strateglc measure to support the retentlon of hlghly perlormlng staff members. Page 11 The Stone Foundatlon Trustees, Repoit Icontinuedl Chlef Exetutlve Offlcer and the Stone Foundatlon Team The appolntment of the CEO in the lin31 quarter of the 2022123 flnanclal year strengthened the Charitrf5 strateglc and operational leadershlp. Drawing on extensive experience in both housin8 and mana8ement, she has contlnued to embed herself within the organisation, implementing clear prltsrltles and structured workflows to enhance financial stabllity. A key focu5 has been the accumulation of a cumulative surplus In line wlth the reserves target of £225.000. In close collaboration with the Finance Man2ger, strong operational discipline has been instilled across the team, ensurlng that debts are pursued promptly, payments are proce55ed eflicientlyl and regular financi31 monitoring is m8intained. The rental admlnlstration process has also been streamlined. with the Finance Mana8er ellectively overseelng Its implementation through the accountin6 System. These efforts have been underpinned by the introduction of new systems and practices, enabling the Foundation to operate with greater ellScSency and agllity In pursult of its tharitable aims. During the year. the Foundation was pleased to appoint an experlenced Indlvidual to a dual-role position encompasslne both Housing and Training Manager responsibilities. alongside the recruitment of a highlv capable Adrninistratlve Officer. As demand lor the Ready Steady Rent programme grew and the organisatlon be8an to expand its locus on post-course support, this initial dual-role arran8ernent was reviewed. As a result, the role evolved Into a dedicated Training Lead/Manager post, while a new dual role was introduced combining Housing Assistant designed as a career development opportunity and Administrative Officer We would like to thank everyone that works for The Stone Foundatlon for their hard work and comrnitment to what we are trylng to achleve. Statement of Trustee5' Re5ponsibllltles The trustees are responslble for preparlng the tru5tees' report and the financlal statements In accordanee with the United Kingdom Accounting Standards Iunited Kingdom Genernlly Accepted Acc(yJnting Practice) and applicable law and regulations. The law applic3ble to charities requires the trustees to prepare linanclal starements for each flnancial year whlch 8ive a true and falr view ol the state of affairs of the charlty and of the incoming resources and appllcatlon of resources of the chèrity ftsT that perlod. In preparlng these financial statements, the trustees are required to.. selett sultable accounting polieles and then apply them consistentlv; obseNe the methods and prlnciples In the Charities SORP,. makejudgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any materlal departures d15closed and explained in the financial statements., and prepare the financial statemerits on the goillg concern basis unless It Is Inapproprlate to presume that the charlty wlll continue In buslness. The trusteE5 are responsible lor keeping proper accounting records that dlsilose wlth reasonable accuracy at any time the finan¢Sal posltion of the charity and enable them to ensure that the financial statements complv wlth the Charltles Act 2011, the Charltles (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The truslees are also responsible for salegu3rding the assets of the charlty and hence for taking reasonable steps lor the preventlon and detectlon of fraud and other Irregularltles. The trustees are resPOn5ible for the rnaintenance and integrity of the corporate and financlal Inlormètion included on the charitable company's website. LegislatSon governing the preparation and di55emination ol flnanclal statements may dlffer from leglslatlon In 0therlurisdictio￿5. Page 12 The Stone Foundatlon Trustees, Report (contlnuedl and slgned on its behalf bv.. Uam Macklnder Ch31rman and trustee Angel Trustee ompson PaBe 13 The Stone Foundatlon Independent Examlner's Report to the trustees of The Stone Foundatlon I report to the charity trustees on my examination ol the accounts of the tharlty for the year ended 31 March 2025 which comprise the Statement of Financial Actlvitles, the Balance Sheet and related notes. This report is made solely to the charity's trustees. as a body, in accordance with section 145 01 the Charitles Act 2011. My work has been undertaken so that I might State to the charity's trustees those matters l am required to state to them In this report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responsibility to anyone other than the chadty and the chariVs trustees as a body. for my work, lor this report, or lor the opinions I have formed. Responsibilities and basls of report As the charity trustee5 of The Stone Foundatlon you are responsible for the preparatlon of the accounts in accordance wSth the requlremenrs of the Charitie5 Act 20111.the Act'l. I report in respect of my examinatlon of the The Stone Foundation's accounts carried out under section 145 of the 2011 Acr and In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451Sllbl of the Act. An 5ndependent examillatlon does not involve gathering all the evldence that would be required in an audlt and consequently does not cover all the matters that 3n auditor considers in Elving their opinion on the financial statements. The plannlng and conduct of an audit goes beyond the limited assurance that an Independent examlnation can provide. Consequently l express no opinion as to whether the financial Statements present a 'true and fairf view and my report is limited to those specllic matters set out In the independent examinerfs statement. Independent eKamlneVs statèmènt Since The Stone Foundation's gross Income exceeded £250.000 your examlner must be a rnember of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICEW. which is one of the listed bodles. I have completed my examination. I conflrm that no materlal matters have come to my attentlon In connectlon with the examination giving me cause to believe that In any material respect.. l. accountin8 records were not kept in respert ol The Stone Foundation as required by section 130 01 the Act., or 2. the flnantial statements do not accord with those records,. or 3. the linanclal statements do not comply with the accounting requlrements concerning the form and content of accounts set out in the Charitles IAccounts and Report51 Regulations 2008 other than anv requlrement that the accounts 8lve a 'true and falr view, which is not a matter consldered as part of an Independent examlnatlon. I have no concerns and have tome across no other matters in connection wlth the examlnatlon to whlch attention should be drawn in this report in order to enable a proper understanding ol the accounts to be reached. Page 14 The Stone Foundation Independent Examiner's Report to the trustees of The Stone Foundatlon Icontlnued} Tlmothy Sullivan FCA Field Sullivan Limited 9 Hare & Billet Road Blackheath London SE3 ORB Date.. Pa8e IS The Stone Fovndbtlon Statement of Flnanel•l Aetlvitie5 lortheyear Ended 31 March 2025 Tot41 2014 Unr•stikt•d Néstrlctèd 2Q25 Unr•5tr1ctqd Restrktsd I¢OmèèndEndownentsfrom'. Dtsnètkns ondle8Kle5 Charitob* 3¢tThit*s 335 16.000 11.ioo 921,603 922.603 2,870 872.344 99 941.808 872 582 883.$82 E¥pénd1tU￿e ¢D'. 19,9861 1È6S.3801 (755.156 865.380 trlet MOVQrn￿t kn Ivnds 7Q,394 6P34 76.428 5,124 Ill450 RIC￿¢111￿110TrOIIundI 189,945 196.661 72.619 Tot4lfunth cwrltd lorwJid 260.33g 12.750 273,￿9 189,945 lolthechadV5 attlYltle5 doTlwtromtoniknukn8operotlonsduiSr¢ thÈaboYeiwo perlod5. Th•fUThdsbreakth￿￿ lor2Q241sshowlnhotei6. 1henoteson ptyes 19 t029 Snt88ial partofthiselThantl* statements. The Stone Foundation (Reglstration number: 11628931 Balance Sheet as at 31 March 2025 2025 1024 Note Flxed assets Tanglble assets li 401 602 Cutfont355et5 Debtors 12 48,695 272.83S 83,943 147.929 Cash at bank and in hand 13 321,530 231,872 Cr•ditor$: Amounts falllng du¢ wlthln oneyear 14 148,8421 135,813 Net current a55et5 272,688 196,059 Net assets 273,089 196,661 Funds of the (harity.. Restrlrted Sncome funds Restrlcted lunds 12,750 6,716 Vwe5tricted inwme funds Unwestricted funds 260,339 189.945 Totsl funds 16 273,OB9 196,661 The fi anclal tatement5 on p&ges 16 to 29 were 8ppmved by the trustees, and authorlsed for Issue on and slgned on thelr behalf by.. Llam Macklnder Chaliman and trustee Angela Trustee ompson The notes on pages 19 to 29 form an Integral part of these flnaThclal $tateMents. Page 17 The Stone Foundatlon Cash Flow Statement forthe Year Ended 31 March 2025 2025 2024 Note Cash Ilows from operatlng a¢tivltle5 Net cash income 76,428 122,450 Adjustments to ¢?5h flows from non.cash Itèms Depreciation Investment Income 201 201 1991 12.8701 73,759 122,552 Worktng czpital adjustments Decre3se/lincreasel in debtors Increase In creditors Decre3se in deferred Income 12 35.248 13,029 116,5611 3,602 14.2391 14 Net Cash flows from operatlng actlvStSes 122,036 105,354 Cash flows from Investing activitles Interest receivable and similar income 2,870 99 18031 Purchase of tang*ble fixed assets li Net cash flows from investSng actfvltle5 2,870 17041 Net In£rease In cash and tash equivalents 124,906 104,650 Cash and cash equivalents at l Aprll 147,929 43,279 Cash and cash equivalents at 31 March 272,835 147,929 Reconclllatlon of net cash flow to movement In nèt funds Increase In cash 124,906 104,650 Net funds at l Aprll 2024 147.929 43,279 Net funds at 31 March 2025 272,835 147.929 All of the cash flows arè derived from continuing operations duHng the above two period5. The notes on pages 19 to 29 form an Integral part of these financial statements. Page 18 The Stone Foundation Notes to the Financial Statements for the Year Ended 31 March 2025 I Charlty status The charity is domlciled in England and Wales. The address of Its registered office is.. Sproughton House Sproughton IP83AW These financial statements were authorised for Issue by the trustees on 29 Au8USt 2025. 2 Accountlhg pollcSes statement of compllance The financlal statements triave been prepared In accordance with Accountin8 and Reporting by Charities: Statement of Recommended Practice applicable to charltles preparlng their accounts In accordance with the Financial Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 1021 (effective I lanLJary 20191 (Charities SORP IFRS 1021 Second edition October 20191, the Financial ReptsrtSng Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charltles Act 2011. Basls of prèparatlon The Stone Foundation meets the definition of a publlc beneflt entity under FRS 102. The accounts Ifinanclal st3tementsl have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. Golng concern The trustees consider that there are no material uncertainties about the tharlty's ability to continue as a going concern. Judgement5 and key sources of estlmalion uncertainty In the application of the charitvs accountlng policles, the trustees are required to make judgements, estlmates and a5sumptltrns about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estlmates and associated assumptions are based on hlstorlcal experlence and other factors that are considered to be relevant. Actua1 results may differ from these estlmates. The estSm8tes and underlylng assumptlons are reviewed on an ongolng basls. Revfslons to accounting estimates are recognlsed In the perlods in whlch the estlmate is revlsed where revlsions affects only that perlod, or in the period of the revisiort and futsjre periods where the revisions affects both current and future periods. Income and endowments Voluntary income Including donations, gifts, legacies and grants that provlde core fundlng or are of a genèral nature is recogni5ed when the charity has entitlement to the Income. it is probable that the Income will be received and the amount can be measured with sufficient rèllablllty. Page 19 The Stone Foundatlon Notes to the Flnancial Statements for the Year Ended 31 March 2025 {contlnued) Donotlons ond legucles Donatlons and legacles are recognised on a receivable basis when receipt Ss probable and the amount can be reliably rneasured. Gronts recelvable Grants are recognised when the charfty has an entltlement to the funds and any condltlons linked to the grants have been met. Where perforrnanee conditions are attached to the grant and are yet to be met, the income Is recognlsed as a118blllty and Sncluded on the balance sheet as deferred Income to be released. It]vestment Income Dividends are recognised once th& divldend has been declared and notilication has been received of the dividend due. Expendlture All expenditure is iecognised once there is a legal or constructive obligatlon to that expendlture, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the appllcable expenditure headlng that aggregate slmilar costs to that cate80ry. Where costs cannot be directly attributed to particular headlng5 they have been allocated on a basi5 consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charEe5 allocated on the portion of the asset's usè. Other support costs are èllocated based on the spread of staff costs. Charitable uctlvltles Charitable expenditure comprlses those costs Incurred by the charity in the delivery of its activities and services for it5 beneficiarles. It Includes both costs that can be allocated directly to such activities and those costs ol an Indirect nèture necessary to support them. Support Costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent wlth the use ol resources, for example. allocating property costs by floor are3s, or per capit3, Staff costs by the tlme spent and other costs by their usage. Taxatlon The charSty Is considered to pass the test5 set out In Paragraph I Schedule 6 of the Finarnce Act 2010 and therefore it meets the definition of a charftable company for UK corporation tax purposes. Accordingly. the charity is potentlally exempt from tsxation In respect of income or capital galns received wlthln Categories covered by Chapter 3 Part 11 of the Corpor3tion Tax Act 2010 Dr Section 256 of the Taxatlon ol Chalgeable Galns Act 19g2, to the extent that such income or gains are applled exclusively to charltèble purposes. Tangible frxed assets Indlvldual fixed assets costing £500.00 or more are init1311y recorded at C05t. less any subsèquent accumulated depreciation and subsequent accUm￿lated impatrment losses. Depreciatlon and amortisatlon DeprecSation Is provlded on tangible Ilxed assets so as to write off the cost or valuation, less any estimated resiijual value, over their expected useful economic life as follow5.. Page 20 The Stone Foundatlon Notes to the Flnanclal Statements for the Year Ended 31 March 2025 Icontlnued) Asset class Office equipment Depreclallon method and rate straight line over 4 years Trade debtors Trade debtors are amounts dué from customer5 for merchandise sold or services perlom)ed In the ordinary course of business. Trade debtors are r￿OgnIsed initially at the transaction price. They are subsequently measured at amortlsed cost using the effective interest method, less provision for impairment. A provision lor the impairment of trade debtors is established when there is objective ewdence that the charlty wlll not be able to collect all amounts due accordlng to the orl8lnal terms of the recelvables. Cash and cash equlvalènis Cash and cash equlvalents comprise cash on hand and c811 deposits, and other short-term highly Ilquid investments that are readily convertible to a known amount ol cash and are sublect to an Snsignificant rlsk ol change in value. Trade credltors Trade creditors are obligations to pay for goods or servlces that have been acquired in the ordinary course ol busines5 from suppliers. Account5 pay3ble are c13S5ilied as current liabilities 11 the does not have an uncondltlonal rlght, at the ené ol the reportSn8 perlod, to defer settlement ol the tredltor lor at least twelve months after the reportlng date. If there Is an untondltional right to defer settlement for at least twelve months aller the reporting date. they are presented as non-current liabllitles. Trade creditors are recognised Inltially at the transaction p￿ce and Subsequently measu¥ed at amortised cost using the effective Interest method. Fund structure Unre5trlcted Income funds are general funds that are available for use at the trustees discretlon in furtherance of the objectives of the charlty. Designated funds arè unrestricted fund5 set a51de for specific purposes at the discretlon of the trustees. Restricted incorne fund5 are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Penslons and other post retlrement obllgatlons The charity operates a defined contribution pension scheme which is a pension plan under whlch fixed contrlbutions are paSd into a penslon fund and the charity has no le8al or constructlve obligation to pay further contributions even il Lhe fund does not hold suff5cient assets to pay all employees the benefits rdatln8 to employee setvlce In the current and pri(Y periods. ContributlOll5 to defined contrlbutlon plans are reeognlsed in the Statement ol Financlal Activities when they are due. If contribution payments exceed ihe contribution due lor service, the excess Is recognlsed as a prepayment. Pa8e 21 The Stone Foundation Notes to the Financlal Statements for the Year Ended 31 March 2025 Icontlnued) 3 Income from donation5 and legacle5 Unre$trlcted fund5 General RestYl¢ted funds Total 2025 Total 2024 Donatlons and legacies; Appeals and donatlons Grants, Indudlng capltal grants,. The Albert Hunt Trust 335 335 139 7,000 7,000 The Hedley Foundation Mrs L D Rope's Charitable Trust Frank jackson Foundation The Belstead Gazoni Charitable Settlement 600 6,000 6,000 5,500 5,000 3.000 3,000 335 16,000 16,335 11,239 4 Income from chailtable activities Unrestrlcted funds General Total 2025 Total 2024 Tenants 100,507 799,363 22,733 100,507 799,363 22,733 78,436 762,391 31.517 Houslng beneflts Other 922,603 922.603 872,344 5 Investment Intome Unrestrlcted funds General Totsl 2025 Total 2024 Interest re￿1vable and similar Income,. Interest receivable on bank deposits 2,870 2,870 99 Page 22 The Stone Foundatlon Note5 to the Financlal Statements for the Year Ended 31 March 2025 {contlnuedl 6 Expendlture on charltable actI￿tIeS Total 2025 Totsl 2024 Note Rent 418.359 18,123 17,174 42,208 41,707 4,761 2,335 176,195 2,890 14,677 1,000 125,951 389,662 15,457 12.333 34.553 41,945 5,772 2,224 151,951 3,497 9,253 Council tax Water rates Ele