Financial Statements
year 2023
Period Covering 6[th] April 2022 to 5[th] April 2023
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 2023, the Trust recorded a loss of £19,467 (2022 loss £24,208). This is the 4[th] year the trust has made a loss on its class activities and reflects the decision to by the trustees in 2018 to separate the holiday letting activity into a separate trading company. Stanton Guildhouse Ltd, (the trading company) made a gift-aided donation of its taxable profits in the year to December 2022 of £6,800
A full range of classes were held in the year. We held 2 open days during the summer 2022. As a result of increased advertising and 2 open days during the summer of 2022 our classes are oversubscribed and we operate a waiting list system.
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
03/02/2024
Report of the Independent Examiner to the Trustees of The Stanton Guildhouse Trust for the Twelve Month Period Ended 5 April 2023
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 £19,467 for the year, and the Statement of Assets and Liabilities shows net assets of £2,206,594.
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 2022 to 5 April 2023.
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
25/01/2024
Dated: ……………………………
………………………………………….
Income and Expenditure Accounts for Year ended 5[th] April 2023
| notes INCOME Donations and legacies Fund Raising & Grants Donations and legacies 4 Charitable activities Craft Classes, Education & Training 1 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 General Overhead Costs Overheads Maintenance & Repairs Depreciation Heat, Light & Water Insurances Payroll Costs 3 General Office Bank Charges Professional Fees TOTAL OPERATIONAL EXPENDITURE Net income/(expenditure) |
2023 £'s 1,358 6,987 33,197 1,150 3 42,695 53 1,506 1,559 26,084 135 26,219 2891 8,120 4,959 4,799 10,288 654 2,673 34,384 62,162 -19,467 |
2022 unrestricted funds £'s 3,296 402 18,102 1,000 22,800 0 235 235 15,188 808 15,996 3210 7,143 3,452 2,215 12,078 197 247 2,235 30,777 47,008 -24,208 |
2022 unrestricted funds £'s 3,296 402 18,102 1,000 22,800 0 235 235 15,188 808 15,996 3210 7,143 3,452 2,215 12,078 197 247 2,235 30,777 47,008 -24,208 |
|
|---|---|---|---|---|
| 22,800 | ||||
| 0 235 |
||||
| 235 15,188 808 |
||||
| 15,996 3210 7,143 3,452 2,215 12,078 197 247 2,235 |
||||
| 30,777 | ||||
| 47,008 | ||||
| -24,208 |
Balance Sheet as at 5[th] April 2023
| 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 cash account 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 (E) Unrestricted funds b/f transfer from designated funds Current year earnings Unrestricted funds c/f Revaluation reserve Unrestricted designated funds Total funds |
2023 2022 2,007,391 2,008,868 84,625 87,352 4,650 4,932 1 1 75,804 96,404 137 0 14,346 16,630 4024 0 19,120 19,110 0 0 0 0 |
|---|---|
| 37,490 35,740 |
|
| 113,431 132,144 |
|
| 3,504 7,233 |
|
| 109,927 124,911 |
|
| 2,206,594 2,226,064 |
|
| 132,509 150,755 3,634 5,962 -19,467 -24,208 |
|
| 116,676 132,509 2,008,867 2,008,867 81,051 84,688 2,206,594 2,226,064 |
Notes to the Financial Statements for the Year Ended 5 April 2023
Note 1 Income
A full range of classes over two terms was held 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, gift-aids 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. Where the Trust rents out to other providers of daytime art and craft courses, this is seen as part of our charitable activies not anciliary trading activies. Rental income of £150 was made by this means in the year.
Note 3 Payroll Costs
The trust has one employee Mr Angel Mawson who manages the property, 23,675 in salaries(excl. statutory pensions and NIC) 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 £2,224 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 Donations
Stanton Guildhouse Ltd made a gift-aided donation of its taxable profits for the year ended December 2022 of £6,800. Other donations received were £187.
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 invested £1,111 in rewiring the fuse box in the house.
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 donate all profits from that business back to the Trust. See note 4.
Note C Debtors
Included in Debtors is £11,495 (2022: £88,995) 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 £600 for fees paid in advance of the spring term
Note E Funds
The Trust has no restricted or endowment funds. The trust holds £81,051 (2022 £84,688) of unrestricted designated funds toward the upkeep and maintenance of its classroom equipment, building and grounds.
The trust transferred £3,634 (2022 £5,962) from its unrestricted designated funds to its general reserves in the year which represents the expenditure on capital assets for such purposes.
The revaluation reserve represents the value of the property upon transfer to the CIO from unincorporated trust in 2016.