**Financial Statements**
**year 2022**
**Period Covering 6[th] April 2021 to 5[th] April 2022**
# **The Stanton Guildhouse Trust**
# Stanton, Broadway, Worcestershire, WR12 7NE
Tel: 07784 240 166 www.stantonguildhouse.org.uk info@stantonguildhouse.org.uk
## **Name of Charity**
The Stanton Guildhouse Trust A Charitable Incorporated Organisation founded 13[th] October 2016
Also referred to as “The Guildhouse” and “Stanton Guildhouse” And governed by constitution.
## **Registered Charity Number**
1169660
## **Executive President**
Lord Mawson OBE
## **Trustees**
Frank Creber - Chairman Sir Dr Sam Everington OBE - Treasurer Dr Elizabeth Hodges - Secretary
## **Administrators and Employees**
Angel Mawson - Manager Julia Stanbridge - Accountant
## **Independent Examiner**
## Donald Findley
## **Bankers**
HSBC Plc Scottish Widows CAF Bank
## **Chairman’s Preface (Trustees report)**
The Stanton Guildhouse Trust is a charitable organisation which exists to promote traditional arts and crafts, and to provide a restful centre for education, meditation and training. In order to maintain the arts and crafts provision in the studio, pottery and workshop, the Guildhouse generates extra income from letting its facilities as a retreat for meetings, conferences and leisure activities.
For the 12 months ending 5[th] April 2022, the Trust recorded a loss of £24,008 (2021 loss £17,881). The Covid pandemic restrictions affected classes during 2021/22 and no spring classes were held. Tutor wages and admin cost increased with inflation.
Despite making a loss in the trust, its trading company, Stanton Guildhouse Ltd, saw increased bookings and is on track to make a profitable contribution to the trust in the coming year.
There was a slow return to classes with new classes starting up in the spring 2022 term.
The Trust is revitalising its artistic partnerships with exhibitions, concerts and an open day planned for summer 2022. It has also established a link with the Broadway Arts festival committee and will become a venue during the 2023 festival.
I would like to record my thanks to all our trustees, tutors and staff, for their invaluable support and good humour throughout this post covid year of new developments.
## **Frank Creber**
## _**Chairman of Trustees**_
_**21/01/2023**_
## _**Report of the Independent Examiner to the Trustees of The Stanton Guildhouse Trust for the Twelve Month Period Ended 5 April 2022**_
In accordance with the instructions given to me, I have examined the income and expenditure account, prepared by the Trustees, and compared it to the computer records, together with additional information and explanations supplied to me.
The account shows a loss of £24,208 for the year, and the Statement of Assets and Liabilities shows net assets of £2,226,064.
My examination of the financial records of the Trust was carried out in accordance with the general directions for small charities given by the Charity Commissioners. The examination included a review of the computerised cash accounting records maintained by the Trust, seeking explanations and clarification for any unusual items, where necessary, from the administrative staff or Trustees. The records appear to be robust with good regular financial reporting to the Trustees and back-up records maintained safely.
The procedures I have undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the income and expenditure of the Trust for the financial year covering the period 6 April 2020 to 5 April 2022.
In connection with my examination of the Income and Expenditure Account and the Statement of Assets and Liabilities, no matter has come to my attention which is not covered in my comments and notes to the accounts:
• which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with the Charities Act requirements, and to prepare accounts which accord with the accounting records, and comply with the accounting requirements of that act, have not been met; and
• to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached, provided all pages of these accounts are read.
Regards
Donald Findley
Donald Findley
01/02/2023
**………………………………………….**
Dated: **……………………………**
Income and Expenditure Accounts for Year ended 5[th] April 2022
|notes
INCOME
1
Donations and legacies
Fund Raising & Grants
Donations and legacies
Charitable activities
Craft Classes, Education &
Training
Summer Schools
Trading activities
Lettings & Accommodation
2
Investment activities
Interest Earned
TOTAL INCOME
EXPENDITURE
raising funds
Advertising, Marketing &
Website
Postages, Telephones &
Photocopying
Charitable activities
Craft Classes & Community
Activities
Summer Schools
General Overhead Costs
Trading activities
Costs of Lettings
Overheads
Maintenance & Repairs
Depreciation
Heat, Light & Water
Insurances
Payroll Costs
3
General Office
Bank Charges
Trustee Costs
Professional Fees
TOTAL OPERATIONAL
EXPENDITURE
Netincome/(expenditure)|2022
2021
unrestricted funds
£'s
£'s
3,296
12,112
402
470
18,102
146
1,000
-910
22,800
11,818
0
122
235
235
1,422
15,188
139
808
1,117|2022
2021
unrestricted funds
£'s
£'s
3,296
12,112
402
470
18,102
146
1,000
-910
22,800
11,818
0
122
235
235
1,422
15,188
139
808
1,117|
|---|---|---|
|||11,818|
|||122|
|||1,422
139
1,117|
||15,996
0
3210
7,143
3,452
2,215
12,078
197
247
2,235
30,777
47,008
-24,208|1,256|
|||0
151
5,955
2,796
1,521
14,523
471
62
0
1,542|
|||27,021|
|||29,699|
||||
|||-17,881|
Balance Sheet as at 5[th] April 2022
|Notes
**FIXED ASSETS**
(A)
Freehold Property
Fixture and Fittings
Plant & Equipment
**Investments**
Stanton Guildhouse Ltd
(B)
**CURRENT ASSETS**
Debtors
(C)
prepayments and accrued
income
HSBC account
CAF General Deposit
Scottish Widows
CAF Sinking Fund
CAF Development Fund
Total Cash Balances
**TOTAL CURRENT ASSETS**
Creditors: amounts falling
due within one year
(D)
**NET CURRENT ASSETS**
**Total net assets/(liabilities)**
**FUNDS OF THE CHARITY**
Unrestricted funds
Movement from designated
funds
Revaluation reserve
Unrestricted designated funds
(E)
**Total funds**|2022
2021
2,008,868
2,008,868
87,352
93,254
4,932
409
1
1
96,404
109,932
0
1,619
16,630
19,833
0
0
19,110
18,972
0
0
0
0|
|---|---|
||35,740
38,805|
|||
||132,144
148,737|
||7,233
999|
||124,911
147,738|
|||
||2,226,064
2,250,270|
||25,197
49,403
107,312
101,550
2,008,867
2,008,867
84,688
90,450|
||2,226,064
2,250,270|
## _**Notes to the Financial Statements for the Year Ended 5 April 2022**_
## _**Note 1 Income**_
_Classes were resumed in the Autumn term 2021. Covid furlough grants of £3,295 were received in the year._
## _**Note 2 Letting activity**_
_The Trust granted a 7 year lease from April 2019 to its trading subsidiary, Stanton Guildhouse Ltd, to operate the holiday let business on behalf of the trust. The company, which has a December year end, will gift-aid its taxable trading profits back to the trust to be spent on charitable purposes. In the year the trading company has been charged £1,000 lease and 50% of utilities and salary costs, net of furlough grants. Although holiday letting were limited in the spring of 2021 due to Covid restrictions, the trading company is expected to make a profit in the year to Dec 2022._
## _**Note 3 Payroll Costs**_
_The trust has one employee Mr Angel Mawson who manages the property, the courses and the letting business on its behalf. In the year the trust paid £18,371 in salaries and received job retention scheme grants of £3,295. The trust allocates 50 % of the managers wage to the holiday letting business which is a reflection of the time spent on managing that work._
_The Trust also paid £1,335 for accountancy and bookkeeping services in the period._
_The Chairman of Trustees, Lord Mawson, charged £900 per annum for management services in the year._
## _**Note 4 loss for the Year**_
_The loss in the year was £24,208. The Trust’s financial policy is to aim for an overall break-even position over time._
## _**Note 5 Accounting Principles**_
_The Trust is a non-company charity with gross income of less than £250,000. As such, and in compliance with Charity Commission requirements and SORP (FRSSE), these accounts have not been prepared on the accruals basis, but in accordance with the Trust’s existing accounting policies and practices. In particular, transactions are analysed by their “nature”, rather than by their “activity”._
## _**Note A Fixed Assets and Freehold Property**_
_Legal title to the freehold property known as “The Guildhouse”, including the house, land and outbuildings, was passed over to the Trust on application due to its change of status to CIO. The transfer is pending formal conveyancing to transfer the title of the property to the CIO._
_The freehold land and buildings are held at valuation costs basis and not subject to depreciation. A professional valuation has not been commissioned as the Trustees do not consider that the expense would be justified. However, they have insured the property and its contents for the sum of £2,596,872 on a replacement cost basis, which they believe to be adequate._
_The trust bought £5,762 of equipment for its workshops in the year which were partially funded by a grant of £1,800 from the WG Edwards Charity in 2020._
_The trust capitalises its furniture and equipment on either 2 or 5 year straight line depreciation, based on the amount of use the item will be subjected to._
_Fixture and fittings are depreciated on a 15 year straight line basis._
## _**Note B Investment**_
_The Trust owns 100% of the share capital of Stanton Guildhouse Ltd which run the furnished holiday lettings business and will donate all profits from that business back to the Trust. Due to covid restrictions during 2020 and 2021, Stanton Guildhouse Ltd did not make a trading profit in the year so no donations are reflected in this set of accounts._
## _**Note C Debtors**_
_Included in Debtors is £88,995 (2021: £92,947) owed by Stanton Guildhouse ltd which is responsible for running the furnished holiday let business. This loan is unsecured and repayable on demand._
## _**Note D Creditors and Advanced income**_
_Included in the balance is £3,975 for fees paid in advance._
## _**Note E Funds**_
_The Trust has no restricted or endowment funds. The trust holds £84,688 (2021 £90,450) of unrestricted designated funds toward the upkeep and maintenance of its classroom equipment, building and grounds._
_The trust transferred £5,762 from its unrestricted designated funds to its general reserves in the year which represents the expenditure on capital assets for such purposes._