**Charity number: 1188234**
## **STONEWOOD CAMP TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **STONEWOOD CAMP TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Independent Examiner's Report**|5 - 6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 - 16|
## **STONEWOOD CAMP TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2023**
|**Trustees**|D J Collett|
|---|---|
||G I Marshall|
||P R Eddy|
||G M Farnfield|
|**Charity registered**
**number**
1188234
**Principal office**
Haslers
Hawke House
Loughton
IG10 4PL
**Accountants**
Haslers
Chartered Accountants
Old Station Road
Loughton
Essex
IG10 4PL||
Page 1
## **STONEWOOD CAMP TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023**
The Trustees present their annual report together with the financial statements for the year ended 28 February 2023. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and Charities Act 2011.
## **Objectives and activities**
## **a. Policies and objectives**
The objects of Stonewood Camp Trust (‘SCT’) are:
The advancement in life of children and young people;
The provision or assistance in the provision of facilities and activities in the interests of social welfare for recreation or other leisure time activity for children and young people; and
To advance the Christian religion
By the provision of grants or other assistance to further the work of:
The 6th Waltham Forest Company, the Boys’ Brigade
The 7th Leytonstone Girls' Brigade Company
Other companies of the Boys’ Brigade and Girls’ Brigade in the London Boroughs of Waltham Forest and Redbridge.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Strategies for achieving objectives**
‘SCT’ Trustees undertake a regular dialogue with the beneficiaries of the objects in order to promote and encourage uptake of grants and / or other assistance offered.
## **c. Activities undertaken to achieve objectives**
‘SCT’ Trustees continue to remind the beneficiaries of the objects and the opportunity to apply for funding, whether for events, or other means of utilising funds for facilities and activities in the interests of social welfare for recreation or other leisure time activity.
## **d. Grant-making policies**
‘SCT’ Trustees have a blanket policy to encourage uptake of the grant provision amongst its target group of Boys’ and Girls’ Brigade companies.
Page 2
## **STONEWOOD CAMP TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **Achievements and performance**
## **a. Review of activities**
During the period ‘SCT’ Trustees have continued to change the structure and operation of the Charitable Incorporated Organisation (‘CIO’) and have utilised transferred funds in order to progress its’ objects.
## **b. Investment policy and performance**
'SCT' use fund and portfolio investment managers to assist in the careful management of the funds and the provision of regular income. In order to protect funds the strategy employs a low risk income portfolio aiming for some capital growth with lower volatility of returns. There is a regular income which provides the sum of funds available to meet the objects.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
From year to year it is not intended to employ any of the portfolio investment funds in the day to day expenses of ‘SCT’ or in funding the objects.
## **Structure, governance and management**
## **a. Constitution**
The company is a registered charity number 1188234 set up as a Charitable Incorporated Organisation.
The principal object of ‘SCT’ is to advance charitable purpose (according to the law of England and Wales) as the Trustees see fit from time to time, in line with the ‘CIO’ objects and for its beneficiaries.
## **b. Methods of appointment or election of Trustees**
The management of ‘SCT’ is the responsibility of the Trustees who are elected and co-opted under the terms of the ‘CIO’.
## **c. Financial risk management**
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 3
STONEWOOD CAMP TRUST
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 28 FEBRUARY 2023
statsmont of Tnt9. rnsponslbllities
The Trustees are responsible for preparing the Trustees. Rep(Kt and the finanaal statements in aGwrdance
8pplicable law and United lfjngdom Acuunting Stsndards (United Kingd(xn Generally A(zepted Accounting
Practs.l.
The law appliCAte to charilies In Eand & Wales the Trustees to prepwe finanL?al ststements for
each financtal which give a true aThJ fair view of the slate of affairs of the Charity and of its incoming resourtes
and application of resource& induding its in¢))rfVa and expenditure. fDr that In rKeparing these financial
ststements, the Trustees are required to:
select suitsble aecoun*"TrJ Fdi(ies arKI th them cSistenty.
observe the methods and principles ofthe chankn.es SORP (FRS 1021..
make judgaments and accounting 05timates that are reasonable arml prudentr.
st8le whether applicable UK ACCnting Standards (FRS 102) have been followed, subject to any material
dgpartures disdosed and explained in the financial Stalennts..
prepare the financial stslements on the goKKJ (#)£M basis Un tt Is Inapproprlats to presume that tha
Charity continue in business.
The Truslees are responsible for keeping adequat8 arxounting recL)rds thal are suffiaenl lo show and explaln
the Charltrfs transadions and dssdose wilh reanable accura * any time the finanaal p)sitK)n of the Charity
and enable them to ensure that the finanoaal slatemenls comFAy with the Charities Ad 2011. the Charity
(Acwunts and Reports) Regulations 2CQ8 and the provisions of the Trust deed. They are also responsible for
Safeguarding the assets of the Chartty and nce for taking re850nable *eps forthe prevention and detection of
fraud and other iTregularitses.
Approved by order oflhe members of the board of TnJstees and s*3ned on their behalf by.
G l Marshall
Chair
Dats: 11 December 2023
Page 4
## **STONEWOOD CAMP TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **Independent Examiner's Report to the Trustees of Stonewood Camp Trust ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 28 February 2023.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 5
## **STONEWOOD CAMP TRUST**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023**
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 11 December 2023
Matthew Wells
ACA
Haslers Old Station Road Loughton Essex IG10 4PL
Page 6
## **STONEWOOD CAMP TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023**
|**Note**
**Income from:**
Investments
3
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net income before net (losses)/gains on**
**investments**
Net (losses)/gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**33,965**
**33,965**
**10,673**
**10,673**
**23,292**
**(15,720)**
**7,572**
**1,196,280**
**7,572**
**1,203,852**|**Total**
**funds**
**2023**
**£**
**33,965**
**33,965**
**10,673**
**10,673**
**23,292**
**(15,720)**
**7,572**
**1,196,280**
**7,572**
**1,203,852**|_Total_
_funds_
_2022_
_£_
_26,285_|
|---|---|---|---|
||||_26,285_|
||||_13,762_|
||||_13,762_|
||||_12,523_
_19,578_|
||||_32,101_|
||||_1,164,179_
_32,101_|
||||_1,196,280_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 16 form part of these financial statements.
Page 7
STONEWOOD CAMP TRUST
BALCE SHEET
AS AT 28 FEBRUARY 2023
2023
2022
Plote
Fixed assets
Investhients
1.128.084
1, 148.467
1,128.084
1, 148,467
CuTrent assets
Cash at bank and in harKI
49.643
49,643
Creditors.. amounts falling due wilhin
10
(2.1001
(1.830)
Net current assets
75.768
47.813
Total a88ets less ¢UTrenl Ilabllltles
1203.852
1,t96,280
Nel assots excludlng p8nslon assat
1,203052
1.196,280
Totsl net assots
1,203.852
1, 196.280
Charity funds
Restricted ftjnds
Unrestrictad fvnds
11
1.203.852
1, 196,280
T11 funds
1,203,852
1,196.280
The finana81 ststemants WEre approved ar#J av1hl$&y for issue bythe Trustees on 11 Decemb8r 2023
and signed on their behalf ty.
G l Marshall
Chair
The notès on pag6s 9 to 16 form part of these finan(ial statements.
Page 8
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **1. General information**
Stonewood Camp Trust is a Charitable Incorporated Organisation (CIO) and registered with the Charity Commission. The address of the registered office is Hawke House, Old Station Road, Loughton, Essex, IG10 4PL. The principal objective of the Charity is to provide grants to local Boys' and Girls' Brigade companies.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Stonewood Camp Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 9
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **2. Accounting policies (continued)**
## **2.4 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
## **2.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.6 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.7 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.8 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 10
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **3. Investment income**
|**Unrestricted**
**funds**
**2023**
**£**
Income from local listed investments
33,925
Interest received
40
33,965
_Unrestricted_
_funds_
_2022_
_£_
Income from local listed investments
_26,285_
**Analysis of grants**
**Grants to**
**Institutions**
**2023**
**£**
LBWF & LBR Boys + Girls Brigade
7,280
_Grants to_
_Institutions_
_2022_
_£_
LBWF & LBR Boys + Girls Brigade
_5,880_|**Total**
**funds**
**2023**
**£**
**33,925**
**40**|
|---|---|
||**33,965**|
||_Total_
_funds_
_2022_
_£_
_26,285_|
||**Total**
**funds**
**2023**
**£**
**7,280**|
||_Total_
_funds_
_2022_
_£_
_5,880_|
## **4. Analysis of grants**
Page 11
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **5. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2023**
**£**
Grants Provided
7,280
Professional Fees
368
Bank Charges
4
Accountancy Subscription
75
Accountancy
2,280
PI Insurance
552
LEI Registration
114
10,673
_Unrestricted_
_funds_
_2022_
_£_
Grants Provided
_5,880_
Professional Fees
_5,332_
Bank charges
_4_
Accountancy Subscription
_96_
Accountancy
_1,830_
PI Insurance
_483_
LEI Registration
_137_
_13,762_|**Total**
**2023**
**£**
**7,280**
**368**
**4**
**75**
**2,280**
**552**
**114**|
|---|---|
||**10,673**|
||_Total_
_2022_
_£_
_5,880_
_5,332_
_4_
_96_
_1,830_
_483_
_137_|
||_13,762_|
Page 12
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **6. Analysis of expenditure by activities**
|**Grant**
**funding of**
**activities**
**2023**
**£**
Grants Provided
7,280
Professional Fees
-
Bank Charges
-
Accountancy Subscriptions
-
Accountancy
-
PI insurance
-
LEI Registration
-
7,280
_Grant_
_funding of_
_activities_
_2022_
_£_
Grants provided
_5,880_
Professional Fees
_-_
Bank charges
_-_
Accountancy Subscription
_-_
Accountancy
_-_
PI Insurance
_-_
LEI Registration
_-_
_5,880_
**7.**
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts|**Support**
**costs**
**2023**
**£**
-
368
4
75
2,280
552
114
3,393
_Support_
_costs_
_2022_
_£_
_-_
_5,332_
_4_
_96_
_1,830_
_483_
_137_
_7,882_
**2023**
**£**
**2,280**|**Total**
**funds**
**2023**
**£**
**7,280**
**368**
**4**
**75**
**2,280**
**552**
**114**|
|---|---|---|
|||**10,673**|
|||_Total_
_funds_
_2022_
_£_
_5,880_
_5,332_
_4_
_96_
_1,830_
_483_
_137_|
|||_13,762_|
|||_2022_
_£_
_1,830_|
Page 13
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 28 February 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ .
## **9. Fixed asset investments**
|**Cost or valuation**
At 1 March 2022
Revaluations
At 28 February 2023
**Net book value**
At 28 February 2023
_At 28 February 2022_
**10.**
**Creditors: Amounts falling due within one year**
**2023**
**£**
Accruals
**2,100**|**Listed**
**investments**
**£**
**1,143,804**
**(15,720)**
**1,128,084**
**1,128,084**
_1,143,804_
_2022_
_£_
_1,830_|
|---|---|
Page 14
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **11. Statement of funds**
## **Statement of funds - current year**
||||||**Balance at**|
|---|---|---|---|---|---|
||**Balance at 1**|||**Gains/**|**28 February**|
||**March 2022**|**Income**|**Expenditure**|**(Losses)**|**2023**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General Funds|**1,196,280**|**33,965**|**(10,673)**|**(15,720)**|**1,203,852**|
|**Statement of funds - prior year**||||||
||_Balance at_||||_Balance at_|
||_1 March_|||_Gains/_|_28 February_|
||_2021_|_Income_|_Expenditure_|_(Losses)_|_2022_|
||_£_|_£_|_£_|_£_|_£_|
|**Unrestricted funds**||||||
|General Funds|_1,164,179_|_27,252_|_(8,685)_|_13,534_|_1,196,280_|
## **12. Summary of funds**
## **Summary of funds - current year**
|
General funds
**Summary of funds - prior year**
General funds|**Balance at 1**
**March 2022**
**£**
**1,196,280**
_Balance at_
_1 March_
_2021_
_£_
_1,164,179_|**Income**
**£**
**33,965**
_Income_
_£_
_27,252_|**Expenditure**
**£**
**(10,673)**
_Expenditure_
_£_
_(8,685)_|**Gains/**
**(Losses)**
**£**
**(15,720)**
_Gains/_
_(Losses)_
_£_
_13,534_|**Balance at**
**28 February**
**2023**
**£**
**1,203,852**|
|---|---|---|---|---|---|
||||||_Balance at_
_28 February_
_2022_
_£_
_1,196,280_|
Page 15
## **STONEWOOD CAMP TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **13. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Fixed asset investments
1,136,408
Current assets
69,544
Creditors due within one year
(2,100)
**Total**
1,203,852|**Total**
**funds**
**2023**
**£**
**1,136,408**
**69,544**
**(2,100)**
**1,203,852**|
|---|---|
Page 16