Charity registration number: 1198766 The Richard Stoker Trust Annual Report and Financial Statements forthe Year Ended 31 March 2025 Field Sullivan Limited 9 Hare & 8illet Road Blackheath London SE3 ORB
The Richard Stoker Trust Contents Itontinuedl Reference and Aéministrative Details Trustees, Report 2to4 IndependentAuditors' Report 5t07 statement of Financial Activities Balance Sheet Cash Flow Statement io Notes to the Financi31 Statements Ilto15
The Richard Stoker Trust Referen and Admlnistrative Detalls Trustees Mark Braund Caroline Fe15tead Frances Migniug10 Charity Registration Number 1198766 Principal Office 48 Brandram Road London SE13 5RT Audltor Field Sullivan Llrnlted 9 Hare & Billet Road Blackheath London SE3 OR8 Page I
The Richard Stoker Trust Trustees, Report The trustee5 present the annual report together wlth the flnanclal statements and auditors, report of the charity for the year ended 31 March 2025. Objectives and activitie5 Objerts undolms To advance the education of the public in, and the appreciation of. the life and works of the ¢omposer Ri¢h8rd Stoker, in particular by Promoti organisin& supportin8 and encouragin8: 111 public performances and recording5 of his works., 121 other educational and cultural activities relevant to the study and appreciation of his music,. and 131 the safeguarding gf his archive of musical manustripts both published and handwritten. book5. recorded material, athvorks and other relevant items. Publi¢ benefft There was minirnal expenditu Iluring the reporknng period while the trustees decided how to tske the charity fOard following the death of the founding chair of trustees. The trustees Ire aware of, and have taken into account. the guidance on public benefit in all decisions they have made. The trustees confirm that they have complied with the qUireMents of section 17 of the Charities Att 2011 to have due regard to the public benefit guidance published by the Charity Commission ftsr England and Wale5. AchIementS and performance Following the death of the founding chair of trustees, Dr Gillian Stoker, on 13th February 2024, during the reporting period the remaining trustees decided to tarry out a full review in order to decide how to take the chartty fotward in accordance with the charitsble objertives and the wishes of Drstoker. To this end, a tonsultant was appointed to rèport on options. and findings were presÈnted on 26th Febnjary 2025. No decisions were taken as a result of the consultant's rÈcommendations during the reporting period. The tharity undertook no artive fundraisin8 during the reporting period. although we did receive a small number of donations. We also te1ved a large legacy of £1,040,() from the estate of Dr Stoker. Flnanclal revlew At the end of the reporting period, the charity had tash reserves of £1,055,417.91. It also antiapated a further £575.000 legacy from the estate of Dr. Gillian Stoker. once her house had been sold. At the end of the reporting period the house remained in Dr Stokerfs estate, awaiting sale. Polky on resetves While there was no reserve poliLy as such. the reserves were held subjett to thè trust starting the process of inviting grant applications with a view to be8inning the distrsbution of funds in line with the charitable oblectives. Page 2
The Richard Stoker Trust Trustees, Report {continued) TsteeS and officers The trustees and officers setvtng duiing the year and since the year end were as follows: Trustees: Mark Braund Caroline Fdstead Frances Migniuolo Christopher Wiley (resigned 4 June 20251 Structurei governance and management Natureofqovernln9 document CIO Foundation Model Constitution Retruthert¢wnd t7pIntMent0ltntees The trustees during the reportin8 period were recruited by the foundin8 Chair of Trustee5. the late Dr Stoker, on the basis of their expertise, and their cornmitrnent to the promotion of thework of Richard Stoker. Statement of Tru5tee5' Rosponsibllltles The trustee5 are responsible tor preparin8 the tiustees, report and the financial statements in accordance with the Vnited Kingdom Accounting Standards (Unitsd Kingdom Generally Accepted Accounting Practice) and applicable law and reÉulations. The law applicable to charities qUireS the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the tharity and of the incoming resourtes and application of resources of the charity for that period. In preparing these financial statements, the tfU5tees are required to.. select sultable accounting poli¢ies and then apply them consistently.. observe the rnethods and principles in the Charities SORP,. make jud8ements and esrimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subjert to any material departure5 discIc¢sed and explained in the finantial staternents,. and prepare the financial statements on the going concern basis unles5 It 15 inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper 3ccountin8 records that disclose with reasonable accuracy at any tlme the flnancial position of the charity and enable them to ensure that the financial Statements comply with the Charities Art 2011, the Charities IAccounts 3nd Reports) Regulations 2008, and the provlsions of the onstitution. The trustee5 are a150 responsible for safeguarding the assets tsf the thèrity and hence fgr tsking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responslble for the maintenance and integrity of the corporate and financial infijimation included on the charitable company's website. Legislation governing the preparation and di55emination of financial statements may differ from legislation in other jurisdictions. Page 3
The Richard Stoker TNst Trustees, Report {contlnued) Olsclosure of Infom)atlon to audltor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit inforniation and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant infomation that they know of and of which they know the auditor is unaware. The annual report wzs approved by the trustee5 of the charity on...... and si8nEd on its behalf by.. Mark 8raund Trustee Page 4
The Richard Stoker Trust Independent Auditor's Report to the Members of The Richard Stoker Tnst Opinion We have audlted the finaneial statements of The Richard Stoker Trust (the 'charity'l for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Cash Row Statement, and Note5 tci the Financial Statements, including a summary of significant accounting polioe5. The financial reporting framework th31 has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in thè UK and Rèpublic ef Ireland, and applieable law (United Kingdom Gener8lly Accepted Accounting Practice). In our opinion the financial statements.. 8ive a true and fair view Of the state of the charity's affairs as at 31 Marth 2025 and tsf its incomin8 resources and application of resources, including its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the CharfciesArt 2011. Basis for oplni¢n We conducted our audit in accordance with International Standards on Auditing IUKI IISAs IUKII and applic8ble law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordante with the ethical requirements that are relevant to our audit of the financial statements in thè UK, including the FRCS Eth¢cal Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufriaent and appropriate to provide basis foraur opinion. Olher matters The eorresponding fi8ures and comparative financial statements in the current yearfs financial staternents were derived from the financial statements for the year ended 31 December 2024 which were not audited. Concluslons relètlng to golng tontern In auditing the financial statements, we have concluded that the trustees Use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have n9t identified any material uncertainties rtlating to events or conditlQn5 that, individually or collectively, rniy $t significant doubt on the charity's ability to continue as going concern fgr a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with TespECt to going concern a described in the relevant sections of this report. Other InformatloTh The trustees are responsible for the other information. The other infOrMatn cornpri5es the rnforrnation included in the annual report. other than the financial statements and our auditorf5 report thereon. Our opinion on the finanoal statements doe5 not cover the other information and, except to the extent otherwise explicidy stated in our report. we do not express any form of assurante conelusion thereon. Page 5
The Richard Stoker Trust Independent Auditor's Report to the Members of The Richard Stoker Trust (continued) In connettion with our audit of the financial statements, our responsibility is to read the other information and. in doing so. consider whether the other information is materially intonsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is 3 material mi5Statement in the finanoal ststements or a material misstatement ol the other information. If. based on the work we have performed, we conclude that there is a material misstatement of thi5 Other information, we are required to report that facL We have nothing to report in thi5 regard. Matter5 on whlch we are requlred to report by exceptlon In the light of our knowledge and LJnder5tandin8 of the charity ènd its envirtsnment obtalned in the course of the audi¢ we have not identified material rnisstatements in the trustees report. We have nothing to report in respert of the following matters where the Charities (Accounts and Report) Regulation5 2008 requires us to report to you if, in our opinion.. adequate accountin6 records have ngt been kept, or return5 adequate for ou1 3udit have nct been received from branches not visited by us,. or the financi315tatements are not in a8reement with the accountin8 records and return5.' or certain flisclosures of trusteès remuNetytion specified by law are not made; or we have not recelved all the Information and explanatlons we require for our audlt. Responsibilitiès of trustees As explained more fully in the Statement of Trustee5' Respon5ibilitie515et out on page 31, the trustees are responsible for the preparation of the finanaal ststements and for being satisfied that they give 3 true and fair view, and forsuch intemal control as the trustees determine is neeessary ta enable the preparation of financial Statements that are fe from material rnisstatement. whether ijue to frèud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concem, disc105in& as applicable. matters related to going concern and using the going contern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistit alternative but to do so. Audltor RespDnslbilitiS for th audit of the finantial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that indudes our opinign. Re3stsnable assur3nce is a high level of assurance, but is not a guarnntee that an audit conducted in accordance with ISAS IUKI wlll always detect a material misstatement when it exists. Misstatements can arfse from fraud or error and are considered material if. individually or in the awegate, they could Teason3bly be expected to influence the economic decisions of users tsken on the b8sts of these financial statements. The extent to whlch our procedures are capablè of detecting irregularities, including fraud is detalled below- A further desuiption of our responsibilities is available on the Financial Reportin8 Council's website at: www.Irc.or8.uk/auditorsresponsibilities. This description forms p3rt of our auditorfs reptsrt. Page 6
The Richard Stoker Trust Independent Auditor's Report to the Members of The Rlchard Stoker Trust Icontlnuedl Use of our rèport This report is made soldy to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and re8ulations made under sectiC*n 154 of that Act. Our audit work has been undertaken 50 that we mi8ht State to the trustees those matters we are required to state to trustees in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a bodyj for our audit w¢rL for thi5 report or for the opinions we have formed. Timothy Sullivan Isenlor Statutory Auditor) Forand on behalf of Field Sullivan rnited. statutory Auditor Fleld Sullivan Limited 9 Hare & Billet Rgad Blackheath London SE3 IIRB Date.. Field Sullivan Llmited is eli8ible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Cornpanies Act 2006. Page 7
Thè Wthatd StokerTrust Stemtnt of Flnantlal oth$fOrth•year Endod 31 March 2025 Toill Lbto$treO No rom•and d0mtror0.' 1.6162 15.512 56 L6162fy) 1.000 IA0 IDve51mefitcorn berirfome Total(0@ 4631,7E8 1,631,768 thaEatItie5 (90) Totslewdthre 5th) Nettwment iAfvnth L622,168 I.$.168 5QO Tolallund5 broughtforw4r¢ 1.650 4.150 13 L525J18 Alof thorrat¥ 1¢tltieS0YfT[ynC0ntiuin10prbSdknrswthelttvpèrtyy The I$bl¥kdOWn1ty1024Is5hOVTh innDto 13. Themteson Pa615 Ilto 15form inSniÉvJlp•rtofthesefinAnai15tstEments.
The Richard Stoker Trust {Registration number: 11987661 Balance Sheet as at 31 March 2025 2025 2024 r4ote Current assets Debto io 575,000 1,055,418 Cash at bank and in hand li 4.650 1,630,418 4,650 Credltors: Amounis falllng due within one year 12 13,6001 Net ats 1,626,818 4,650 Funds of the charlty: Unrestricted Income funds UnstriCted funds 1,626,818 4,650 Totsl funds 13 1,626,818 4,650 ncal statement5 on pages 8 to 15 wère approved by the trustees, and authorised for issue on and signed on their behalf by.. Mark Braund Trustee The note5 on pa8es 11 to IS form an inte8ral part of these financial statements. PaÉe 9
The Richard Stoker Trust Cash Flow Statement for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operatln8 aCtIlIeS Net cash income L622,168 500 Adjustrn•n15 to cash flows from noTrcash Items Investment income 115.5121 I.6(.656 500 Working capiial adlustmertts Iease in debtois io 1575,Cx)01 Increase in tdItorS 12 Net cash flows from operating artivities 1,035,256 500 Cash flows from imie#inq activities Interest received 15,512 Net increase in cash and cash equivalents I,OSO,768 500 Cash and tash equivalents at l April 4,650 4,150 Cash and cash equivalents at 31 March 1,055,418 4,650 All of the cash flow5 are derived from continuing operation5 during the above two periods. The notes on page$ 11 to 15 fomi an integral part of these financial statements. Page 10
The Richard Stoker Trust Notes to the Financial Statements for the Year Ended 31 March 2025 I Charity status The charity is domtciled in England and Wales. The address of its registered office is.. 48 Brandrarn Road London SE13 5RT 2 Accountlng policies Statement of compliantè The financial statements have been prepared in accordance with Accounting and Reporting by Charities: ststement of Retomrnendèd Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeetive l January 20191- Icharities SORP IFRS 1021 Se¢ond edition October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Cornpanies Act 2006 and Charitie5 Act 2011. Basls of prèparation The Richard Stoker Trust meet$ the defjnition of a public benefit entity under FRS 102. The accounts Ifinantial statements) have been prepared under the historical cost convention with items tognISed at tost or transactyon value unless otherwise stated in the relevant notelsl to these attounts. Going concern The trustees consider that there are no material uncertalnties about the tharity's ability to continue as a going concem. Judgèments and key sources of estimation nrtsInty In the application of the charivs accounting policies, the trustees a requId to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results rnay differ from these estimates. The estimates and undeAying assumptions are rwiewed on an ongoing basis. Revisions to accounting estimates are recognised in the period5 in which the estimate ViSed where revisions affects only that period. or in the period of the revision and future periods where the revisions afferts both current and future pèriods. Income and endowments Voluntary income including donations, gifts, le8acies and grants that provide core fundin8 or a of a general nature is recognised when the charity has ent•eMent to the income, it is probable that the income will bè reeeived and the amount can be measured with sufficient reliability. Page 11
The Richard Stoker Trust Notes to the Financial Statements lor the Year Ended 31 March 2025 Icontinued) Donotions ¢7nd legucie5 Don3tions and legacies are recoBni5ed on a receivable basis when receipt is probable and the amount ean be reliably measured. Investment Income Interest income, Including income arisin8 from finance leases and other financTal Instruments, is recognised using the effective interest method. Expenditure All expenditure is reco8ni5ed once there is a legal or constructive obligation to that expenditure. it 15 probzble settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that ag8re8ate similar costs to that category. Where costs cannot be directly attributed to partitular headings they have been allocated on a basis consistent with the use of re50urce5, Wlth tentr31 staff costs allocated on the basis of time spenL and depreciation charges allocated on the portion of the a5seVs use. Other support costs are allocated based on the spread of staff costs. Churitoble activit$ Charitable expenditure ctsmprises those costs incurred by the charity in the delivery of its actiwties and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs These include the Costs attributsble to the charlS compliance with conStitional and statutory requirements, indudin8 audiL strategic management and trustees meeting5 and rèimbursed expènsès. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Financè Aet 2010 and therefore it meets the definition of a charitsble company for UK corporation tsx purposes. Accordingly, the charity is potentially exempt from taxation in respert of income or capital gains rectived within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 Dr Sect¢on 256 01 the faxation of Chargeablè Gains Art 1992, tothe extpnt that such income or 8ains are applied exclusively to charitable purp95eS. Cash and cash èqulvalents Cash and cash equivalents comprise ta$h on hand and call deposits, and other short-term hi8hfy liquid investrnents that are readily convertible to a known amount of cash and are subject to an Insignificant rlsk of hanse in value. Fund 5trurture Unrestricted income funds are general funds that are avallable for use at the trustEes discretlon in furtherance of the objertives of the charity. Page 12
The Richard Stoker Trurt Notes to the Flnanclal Statements for the Year Ended 31 March 2025 (continued) 3 Income from dofiation$ and legacies Unrestricted funds General Totsl 2025 Totsl 2024 Donations and legacies,. Donations from indiwduals 1.200 1,615,(X)O L2CwJ 1,615,000 I,oc Legacies 1.616.200 1.616,200 4 Investment Incorne Unrèstricted fund5 General Total 2025 Interest reNable and similar income- Interest receivable on bank deposits 15,512 15,512 5 Other Income Unrestrlcled funds General Totsl 2025 Royalties 56 56 6 Expenditure on tharltable actlvltles Unrestricted funds General Totsl 2025 Total 2024 Note Independent examinerfs fee Consultsncv Grant funding of actlvittes 3.600 6.000 3,600 6,000 500 9.600 9.600 500 Page 13
The Richard Stokef Trust Notes to the Financial Statements forthe Year Ended 31 March 2025 (continued) 7 Trustees rernuneration and expense5 During the year the charity made the following transathions with trustees: Mark Braund Durin8 the year, Mark transferred £1,040,CQO of Legacies to the trust, whith was received personally by him from the Estate of Dr Stoker. No tmstees, nor any persons tonnécted with them. have received any remuneration from the charity during the ye3r. Nts trusteès have reteived any reimbursed eKpensès or any other benefits from the charity during the year. Related party transartlons Thère were no related party transactions in the year, otherthan those with trustees referred to in note 7. 9 TaxatÈon The charity is 3 registered charity and is therefore exempt from taxation. 10 DebtOTS 2025 Aetruèd income 575,LNX) 11 Cash and cash equi¥alents 2025 2024 Cash at bank 1.055.418 4,650 12 Creditors- amtyjnts falling due within one year 2025 Accruals 3.6fyJ Pa8e 14
The Richard Stoker Trust Notes to the Financial Statements for the Year Ended 31 March 2025 {contlnued) 13 Funds Balance at I ApEII 2024 Incorninu resources Resources expended Balance at 31 March 2025 Unrtstrlrted funds General 4.650 1,631,768 19.6001 1,626,818 ealan¢e at I AprS12023 Incomlng resourtss Rèsourtes expended Balance at 31 March 2024 Unrestrirted funds General 4.150 1SiXII 4.650 14 Analysls ot net assets between funds Vnrestri¢ted funds General Total fundsat 31 March 2025 Current assets L630,418 13,6001 1,630,418 13.6001 Total net assets 1,626,818 1,626,818 Unrestrlcted funds General Total funds at 31 March 2024 Current assets 4,650 4,650 Pège 15