STUART HOUSE TRUST A charitable Incorporated Organisation Charity Reglstered Number 1175842 REPORT & ACCOUNTS For the year ending 31 December 2024 STUART HOUSE TRUST Address Stuart House Barras Street Liskeard Cornwall PL14 6AB Web Address E-Emall www.stuarthouse.or8.uk Info stuarthouse.o Bankers Uoyds Bank plc. The Parade Liskeard Cornwall Sollcltors Coodes 10.Wlndsor Place Liskeard Cornwall PL14 BH Independent Examiner DJ.Hllton 3, Tremadart Close Duloe Liskeard Cornwall PL14 4PX STUART HOUSE TRUST Contents Directors Report Independent Examlnerfs Report Receipts & Payments Account Assets & Liabilities Notes to the Accounts STUART HOUSE TRUST Directors Bob Holllngdale- Chalr Susan Glencross- Hon. Secretary Tony Britton - Hon Treasurer John Gllddon Kevln George Jenny Chester Directorfs Re The Dlrectors present their Report and Accounts for the year to 31 December 2024 ort. Histo of Stuart House. Stuart House (the House) Is a Grade 2* Ilsted medleval town house datlng from the 15 century andls located In the centre of Uskeard In Cornwall. It Is one of the very few such houses left In Cornwall. th The House Is thought to have been bullt by Slr Henry Trecarel and became home to the Jane famlly durlng the ith centsry. Joseph Jane was Mayor of Llskeard In 1635- 1636 and an ardent supporter of Charles I who Stsyed at the House for seven nights during August and September 1644- a stay whlch gave the House Its present name. Joseph Jane's son, Wllllam, who was bom In the House In 1645, became Reglus Professor of Divlnlty at Oxford Universlty and played a part in The Glorlous Revolutlon of 1688. The maln feature of the House Is the Cross Passage whlch runs East/west with its orlginal granlte arch at the west end. The maln entrance door Inside the porch 15 the best evldence of age and Is pre or earty Tudor whlch dates It from the 15 centuryp long before Charles I's v151t In the 164trs. Other features of the House include three granite fireplaces. the most Impresslve belng in the Reception Hall, a fine Iwh century staircase, I￿ century roof timbers, whlch were exposed in the *rU55e￿ and YUd0￿ rooms. granlte mullioned windows. slate floors and "secrey passage believed to have led to the old Pipe Well in Fore street before a roof fall blocked it. STUART HOUSE TRUST Restoration The Stuart House Trust (the Trust) was set up in 1986 to negotlate the acqulsltlon of the House and to estab115h and run ft as an Arts and Herltage Centre. The Trust acqulred the House In 1988 with the help of grants from Engllsh Heritage, the Rural Herltsge Commlsslon and others. Between 1988 and 1999 restoration work was undertaken, In seven phases. under the directlon of Rlchard Church RIW an architert experlenced In worklng on old bulldlngs. By the end of 1999 all the restoration work was completed and this wa5 soon followed wlth baslc fumlshln8S together wlth the reconstructlon of the KIn￿S bed chamber to Illustrate the vlslt of Charles 1° In 1644. Slnce 1988 the Trust has undertaken the restoratlon of the garden to a deslgn prepared by the Cornwall Gardens Trust and has opened the House to the communlty as an Arts and Herltsge Centre for exhlbltlons lertures, meetlngs and as a venue for a number of local groups. Governin Document The Trust was governed by a constltutlon orlglnally adopted on the 25 Aprll 1985 whlch was later amended, the final amendments belng agreed on the 24 Aprll 2007. Subsequently the Trust became a Charftable Incorporated Or8anlsatlon (ao) and Its constltutlon Is dated 20 November 2018. Ob'ects of the Trust The objects of the Trust as quoted in its constitution are:. l) To renovatei preserve and malntaln for the publlc benefft the property known as Stuart House, Llskeard. 2) To advance the education of the publlc In h15tOry• partlcularly the h15tory and herltage of Cornwall and the history of Stuart House. 3) To advance the publlc In the arts, In particular but not exclusively by contlnulng to develop and promote the House a5 an Arts and Herltage Centre for South East Cornwall. Ownershi Ownershlp of the House is registered with the Land Reglstry In the name of Stuart House Trust. STUART HOUSE TRUST Achievement of the Trust's Ob"ectives The Dlrectorfs report shows that all of the Trusvs objectives are being achieved as far as posslble In a dlfflcult year. Maintsinln8 a property of this age is an ongoing tssk and that together with keepln8 a healthy bank balance are major concerns for the Directors. 2024 has been a dlfflcult year contlnulng to try to re-bulld footfall to pr￿0VId levels and whllst pro8ress contlnues to be made. wlth exhlbltlons of local artlsts work, craft work and beln8 Involved In various Llskeard events, we are stlll runnlng at a flnanclal loss. An exhlbltlon about Cornlsh Salnts was well attended and donatlons of over £1.7(M) were recelved to help wlth costs. Day to day costs are constsntly rlsln8 and wlth mountlng pressures on Income It15 difflcult to see where extra income and cost savlngs can be made. However the Stuart House café contlnues to do well. thanks in very lar8e part to the team of volunteers who help regularly. Our grateful thanks to all of them. Craft sales, art exhlbltlons by local artlsts and varlous other attrartlon5 brlng vlsltors to the House and sorne clvlc events- e.g. the Town Cryerf annual gatherlng and vlsltors from other re8lons both home and overseas have been hosted In house. The garden contlnues to be a blg attractlon, especlally In flne weather and we are enormously grateful to the garden team who malntaln tt to such a hlgh standard. The c05t of maintsining and heatlng a bulldlng whlch Is over years old Is an ongolng challenge and the current economic cllmate15 such that It Is provlng dlfflcult to generate sufflclent Income to cover costs as the accounts show. Inde endent Examinerfs Re ort to the Directors of Stuart House Trust I report on the accounts of the Trust for the year ended 31" December 2024 which are set out on pa8es 7 and 8. Res ertive res onsibilities of Dlrertors and Examiner The Directors are responsible for the preparatlon of the accounts. The dlrectors conslder that an audlt Is not requlred for thi5 year (under sectlon 43(2) of the Charltles Act 1993 (The Art) as amended by 5ectlon 28 of the Charltles Art 2006 and that an Independent examlnatlon Is needed. It Is my responslblllty as Independent Examlner to:. l) Examlne the accounts (under sectlon 43 of The Act as amended 2) To follow the procedures lald down In the general dlrectlons glven by the Charlty Commlssloners (under Section 43(7){b) of The Act as amended 3) To state whether any partlcular matters have come to my attentlon Basls of the Inde endent Re My examlnatlon was carrled out In attordance wlth the general dlrectlons glven by the Charlty Commlssloners. An examlnatlon Includes a revlew of the accountlng records kept by the charlty and a comparlson of the account5 presented wlth those records. It also Includes consideratlon of any unusual Items or dlsclosures In the accounts and seeklng explanatlons from the Dlrertors concernln8 such matters. The procedures undertaken do not provlde all the evldence that would be requlred in an audlt and consequently I do not express an audlt oplnlon on these accounts. ort Inde endent Examlnerfs Statement In the course of my examlnatlon no matter has come to my attentlon:_ l) Whlch glves me reasonable cause to believe that, In any materfal aspert, the Dlrectors have not met thdr requlrements to ensure that:_ i) Proper accountlng record5 are kept (In accordance wlth sertlon 41 of The Act) and Accounts are prepared whlch agree wlth the accountlng records and comply wfth the accounting requirements of The Act or 111) To which. in my oplnlon, attention should be drawn In orderto enable a proper understanding of the accounts to be reached. Derek J. Hllton B.Sc. Date 044 0912aas 3. Tremadart Close. Duloe, Liskeard, Cornwall PL14 4PX t •rt Hovse Thirt 4945J4 17.750Ary 4315. nklrt•rn* *y TIW￿• & Int•rn•t 967.fj6 7J77XI 4wzo4 17.92 17A6 $87A3 7A0 417 .IL25LI2 n5JO 78399 Total FuMdB sruART HOUSE TRUST Stateme as at 31 December 1124 2023 24 11.784 7.932 3A39 PettyCa%h 19.715 Total Cash ￿ftd$ 77yI 429 77041 142 1,496 80m4 Tot•1 Other Assets 79,935 99,739 Total Assels iun£s 99,739 Ul•bll Approved bythe Dlrectors M l a oq iolf •nd s*rnd on b•halfofSknrt H(xtse Trust by ' Chalrm•n Notes to the Accounts fot the ear to 31st December 2024 l) Accountln Policies These accounts have been prepared on a recelpts and payments basis in accordance with United Kingdom accounting standards and Charity Commissions Statement of Recommended Practice (SORP) Donations. subscrlptions, room hire and café tskings contlnue to be the most important source of income for the Trust. Fund raising events make a valuable contribution and the Dlrectors contlnue to seek Ideas to improve sources of income with more events and attractions to encourage greater numbers to vlslt the House. 3) Repalr, malntenance and equipment costs are written off In the year In which they were incurred. 4) Grants During the year a grant of £430 was recelved from Cornwall County Council 5) The value of Stuart House shown In the accounts represents the acquisltion cost plus the costs incurred In the exposure of the south wall. It Is unlikely that this value could ever be reallsed. 6) The computer and printer are shown in the accounts at cost less 10% depreclatlon p.a. 7) Stock represents 8oods purchased for sale In the Trusvs shop and is valued at cost. Liabllities 8) There are no si8niflcant liabllltles.