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UILDHOUSE
**Financial Statements**
**year 2024**
**Period Covering 6[th] April 2023 to 5[th] April 2024**
# **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 Fern Mawson - Trustee
## **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 2024, the Trust recorded a loss of £30,501 (2023 loss ££19,467).
A full range of classes were held in the year..
I would like to record my thanks to all our trustees, tutors and staff, for their invaluable support and good humour throughout the year.
## **Frank Creber**
## _**Chairman of Trustees**_
_**01/02/2025**_
## _**Report of the Independent Examiner to the Trustees of The Stanton Guildhouse Trust for the Twelve Month Period Ended 5 April 2024**_
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 £30,501 for the year, and the Statement of Assets and Liabilities shows net assets of £2,176,092.
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 2024.
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
01/02/2025
**………………………………………….**
Dated: **……………………………**
Income and Expenditure Accounts for Year ended 5[th] April 2024
|||2024|2023|
|---|---|---|---|
||notes||unrestricted funds|
|**INCOME**||£'s|£'s|
|Donations and legacies||||
|Fund Raising & Grants||712|1,358|
|Donations and legacies|4|80|6,987|
|Charitable activities||||
|Craft Classes, Education & Training|1|37,228|33,197|
|Summer Schools||||
|Trading activities||||
|Lettings & Accommodation|2|1,195|1,150|
|Investment activities||||
|Interest Earned||724|3|
|**TOTAL INCOME**||**39,939**|**42,695**|
|**EXPENDITURE**||||
|raising funds||||
|Advertising, Marketing & Website||206|53|
|Postages, Telephones & Photocopying||1,268|1,506|
|||1,475|1,559|
|Charitable activities||||
|Craft Classes & Community Activities|1|29,051|26,084|
|General Overhead Costs||415|135|
|||29,466|26,219|
|Overheads||||
|Maintenance & Repairs||4,108|2891|
|Depreciation||8,447|8,120|
|Heat, Light & Water||7,427|4,959|
|Insurances||595|4,799|
|Payroll Costs|3|15,234|10,288|
|General Office||||
|Bank Charges||708|654|
|Professional Fees||2,981|2,673|
|||39,500|34,384|
|**TOTAL OPERATIONAL EXPENDITURE**||**70,440**|**62,162**|
|||||
|**Net income/(expenditure)**||**-30,501**|**-19,467**|
Balance Sheet as at 5[th] April 2024
||Notes|2024|2023|
|---|---|---|---|
|**FIXED ASSETS**|(A)|||
|Freehold Property||2,007,114|2,007,391|
|Fixture and Fittings||74,913|84,625|
|Plant & Equipment||7,172|4,650|
|
**Investments**||||
|Stanton Guildhouse Ltd|(B)|1|1|
|**CURRENT ASSETS**||||
|Debtors|(C)|29,913|75,804|
|prepayments and accrued
income||202|137|
|HSBC account||14,025|14,346|
|CAF cash account||3,821|4024|
|Scottish Widows||19,466|19,120|
|CAF Deposit account||25,379|0|
|Total Cash Balances||62,691|37,490|
|||||
|**TOTAL CURRENT ASSETS**||92,805|113,431|
|Creditors: amounts falling
due within oneyear|(D)|5,913|3,504|
|**NET CURRENT ASSETS**||86,892|109,927|
|||||
|**Total net assets/(liabilities)**||2,176,092|2,206,594|
|**FUNDS OF THE CHARITY**|(E)|||
|Unrestricted funds b/f||116,676|132,509|
|transfer from designated
funds|||3,634|
|Current year earnings||-30,501|-19,467|
|Unrestricted funds c/f||86,174|116,676|
|Revaluation reserve||2,008,867|2,008,867|
|Unrestricted designated funds||81,051|81,051|
|**Total funds**||2,176,092|2,206,594|
## _**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. A price increase of X% was added to class fees to allow for inflationary increases._
_Tutor payments increased by 10% in the year, the first increase in 2 years, to reflect inflation._
## _**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._
## _**Note 3 Payroll Costs**_
_The trust has one employee Mr Angel Mawson who manages the property, and earned £30,000 (2023 £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 £2,500 (2023 £2,224) for accountancy and bookkeeping services in the period._
## _**Note 4 Donations**_
Stanton Guildhouse Ltd, (the trading company) made a gift-aided donation of its taxable profits in the year to December 2023 of £5,766. This was paid in July 2024 so will be reflected in the 2024/5 accounts (2022 £6,800)
_Other donations received were £80._
## _**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 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 £16,420 (2023: £11,495) 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**_
_Included in trade creditors is £1,281 (2023: £nil) owed to Stanton Guildhouse ltd for joint services paid on behalf of the trust._
## _**Note E Funds**_
_The Trust has no restricted or endowment funds. The trust holds £81,051 (2023 £81,051) of unrestricted designated funds toward the upkeep and maintenance of its classroom equipment, building and grounds._
_The trust did not transfer (2023 £3,634) from its unrestricted designated funds to its general reserves in the year (which represents the expenditure on capital assets for such purposes), as no such assets were purchased._
_The revaluation reserve represents the value of the property upon transfer to the CIO from unincorporated trust in 2016._