Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 Resistered Charity Nurnber.. 236710 THE STONEWALL PARK CHARITABLE TRUST (working name of The V & E Fleming 1964 Charitsble Trust) REPORT AND FIThTANCIAL STATEMENrs Foi the year ended 5 April 2024
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST Page Reference and Administrative Information Trustees, Annual Report Independent Examinef s Report Statement of Finanaal Activities Balance Sheet Notes to the Finanaal Statements 8-13
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 5 APIUL 2024 The Stonewall Park Charitable Tntst was established under a Declaration of Trust dated 22 July 1964, which deteTminetF the objects and powers. The Stonewall Park Charitable Trust is registered with the Charity Commission for Ensland and Wales with Charity Number 236710. TRUSTEES Elizabeth Helen FlemiDg Matthew Valentine Flemins Thomas Munso Fleming HaTry Ceoffrey Flemins PRINCIPAL OFFICE The Stonewall Park Charitable TTUSt clo Management Services Limited 14 Buckingham Street London WC2N 6DF INDEPENDEI4Tf EXAMINER Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT SOLICITORS Currey & Co LLP 33 Queen Anne Street London WIG 9HY REGISTERED CHARITY NUMBER 236nO Page I
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their report along with the finaneial statements of the charity for the year ended 5 April 2024. The financia] statements Comply with the Charitys Trust Deed, the Charities Act 2011, as amended, and the reviewed Staternent of Recommended Practitr - Accounting and Repurting by Charities {SORP 2015). Reference and administrative infornOn set out on pase I forms part of this repoTt. STRUCTURE GOVERNANCE AND MANAGEMENT The Trnstees who held oflice throughout the year are shown on page l. New Trustees, when required, are selected by the serving Tn25tees and are appointmentby a Resolution of existing Trustees. New Trustees undet%0 an induction to acquaint them with the artivities of the charity. Additional training andlor information is provided to the Truslees on an on-going basis. No Trustee receives a fee for the Servi they provide to the Chlty, all time spent is donated free of RFT Management Services Limited provides the eharity with administration and finanaal reporting services. OBJECTS AND ACTIvrriES The Charitys obiects a for the relief OE poverty, the advancement of educatiory the advancement OE relAgion OT any other purposes beneficial to the evmmunity not falling under the precedins whith are charitable according to the law of Ensland and Wales, in such nianner and such proportions as the Trustees shall from time to time at their discretion decide. The Trustees have been granted wide powers to act in furtheran of the tharity's obied GRANT MAKING POLICY. The Trustees consider applications and approve grants, usualty annually. Although some grants may be made to the same charities each year, none are promised or suaranteed. The Trustees have considered the Charity Commission's suld&nce on public benefit indudins the guidan "public benefiL" running a tharity" when forniulating the grant making policy. In partiadar. the Trustees consider how grants can be made to ensure maximurn benefit flows throush to the intended ultimate beneficiaries. ACHIEVEMENTS AND PERFORMANCE Durin8 the year the Trustees made grants totallins £29,600 {2023 - £712501 to other chaTltable OT8anisations as detailed in note as detailed in note 5 and 6. The Trustees look Eorward to being able to continue their dvritable work in the coming years in accordance with the srant making policy. Pase 2
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 5 APIUL 2024 ICOT+lT'DI FINANCIAL REVIEW AND INVESTMENf POLICY The Charity's principal Sour of income is from its investments whidi amounted to £70,676 {2023 - £64,089). During the year, Trnstee5 ent £34,098 12023 - £81,033) on charitable activities and SoveLTwi, and administration of the Charity. The Trustees have an agreed an investment policy for the Charity's investment poriEoJio. The investment manaser has been advised that purtfolio is to be invested at a below average level of risk with a balance of income and capital growth, with a bias towards income. The Trustees continue to monitor the perforn)an of the portfolio with regular investment reports and nting5. To meet these ob)'ectives, the Charity's investments are managed across a range of asset classes, maintaintns diversilicatio tu produce an appropriate balance between risk and retum. FUTURE PLANS The Trustees do not envisage any material changes to the operation of the Charity. RESERVES POLICY The capital is an expendable endowment and at this time the'frustees do not consider a speofic Reserve Po]icy necessary. At the Balance Sheet date the free reserves of the ¢harity amounted to £158,931. RISK MANAGEMENT The Trustees have reviewed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitisate those risks. The principal risk faced by the Charity is an investment risk. This risk could be the reduction in the capital value of the investments and the income derived from the investments, required by the Trustees in meeting their charitable objectives. This risk hasbeen addressed by the appointment of Professional advisors to monitor investnient Performan and to decide on acquisitions and disposals KEY MANAGEMENT PERSONNEL The Trustees are eonsidered to k the Key Management Personnel of the charity. The Trustees are not remunerated Eor their servitts and there are no paid staff. RFT Management Services Limited provides the Trustee8 WLth charity adrninistration and financial reporting services Page 3
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 3 APRIL 2024 {COF,DI sTTENNT OF TRUSTEES. RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the Trustees, Report and the linanaal statements in accvrdance with applicable law and United Kingdom Accountins Standards Iunited Kin8dom Generally Accepted Accounting Practice). The law applicable to tharities in England and Wales require5 the Trustees to prepare finanoal statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resourS and application of reSoUrS for that periud. In preparin8 those financial statements the Trustees are required to: Select Sultable accounting policies and then apply them consistently Observe the methods and principles in the ChaTities SORP; Make judgments" and estimates that are reasonable and prudenl,. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the d)arity will continue in business. The Trustees are responsible for keeping proper aeeounting records that disclose with reasonable accuracy at any time the financial position of the dwity and to enable the to ensuie the financial statements comply with the Charities Act 2011, the Charities SORP and the provisions of the Trust Deeds. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of Eyaud and other irresularities. Approved by the Trustees and sisned on their behalf by: IL M V FLEMING Trustee Dated 24 Tv LY 2cY14 Page 4
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST JNDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF THE STONEWALL PAIiK CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2024 I report to the trustees on my examinatioD of the accounts of the Stonewall Park Charitable Trust for the year ended 5 April 2024. Respottsibllities and basis of report As the charity trustee5 OE the'frustyou are responsible for the preparation of the accounts in accordance with the requirements of the Charities Art 2011 {'the Act'l. I report in respect 0£ my examination of the Trusys accounts carried out under section 145 of the 2011 Act and in carrying i)ut my examination I have followed all the applicable DiTect(ons given by the Charity Commission under section 145(51{bl of the Act. Independent examinerfs ststement I have completed my examination. I confirni ihat no material matters have come to my attention in cmnection with the examination giving me cause to believe that in any material respect.. accountin8 records were not kept in respect OE the TTUSt as required by section 130 of the Act,. or the accounts do not accord with those records. or the accuwits do not comply with the applicable requirements coneernin8 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 'trne and fair view which is not a matter considered as part of an Independent examination. I have no conttms and have come across no other matter& in connection with the examination to which attention should be draTrm in this report in 4)rder to enable a proper understanding of the accounts to be reaehed. Martin Howard For and on behalf of Hazlewoods LLP Bayshill Road Cheltenham GL50 3AT Date.. 25/7/2024 Pa8e 5
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST STATEMEFif OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Funds Expendable NOTE Endowment Total 2024 Total 2023 Income JNCOME Investment Income 70,676 70,676 64,089 TOTAL INCOME 70,676 70,676 64,089 EXPENDMJRE Costs of generating ftu)ds Charitable activities TOTAL EXPENDITURE 11,506 4,890 16.396 11,506 34,098 45,604 9,478 81,033 90,511 29,208 29,20 NET {EXPENDITURE)nNCOME (16J961 41,468 (26,4221 GainsllLosses) on investments Realised Unrealised 4,169 143,113 £169 143,113 (5,688} (73,479) NET MOVEMEwf IN FUNDS 130,886 41,468 172,354 {105,5891 RECONCtLIATION OF FUNDS Total fid$ brought forward 2.199,390 114,868 2,314,258 2,419,847 BALANCE CARRIED FORWARD 2J30,276 156,336 2A86,612 2,314258 CONTINUING OPERATIONS: all of the charitys activities relate to contxnuing operations. TOTAL RECOGNISED GAINS AND LOSSES: the eharity has no recognised gains and losses other than those shown in the statement of financial activities. Page 6
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 NOTE 2024 2023 FIXED ASSETS tnvesttnents 2,327,681 1169,118 CURRENT ASSETS Debtors Cash at Bank 5,570 158,905 164,475 8,252 143,454 151,706 LIABILITIES Creditors: amount falling due within one year io (5,5441 (6,5661 NET CURREwf ASSETS 158,931 145,140 TOTAL ASSETS LESS LIABILITIES 2,486,612 1314,258 RepresentiThg'. UNRESTRIcfED FUNDS Expendable Endowment Income li 2,330,276 Is6,6 2,486,612 2,199,390 114,868 2,314,258 Approved by Ehe Trustees ana signed on their behalf by: M V FLEMING I"rustee Dated 2024 Page 7
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNfiNG POUCIES lal Basis of Freparation The Einanctal statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- The Charity is a publicbenefit entity for the purposes of FRS 102 and a registeTed charity and therefore has also prepared its financial statements in accordance with the Statement ol Recommended Practice applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORPI, and Charities Aet 2011, as amended. The finanaal staternents are prepared in sterling, which is the functional curiency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. Coing Concern The Trustees consider that there are no material uncertainties about the Charitys ability to continue as a going Conce have and continue to follow Government advice and ivillmonitor future developments closely. With respect to the next reporting period, 2024-2025, the most sisnrficant areas of uncertainty that affect the carryin8 value of assets held by the Charity are the level of investment return and the perEorniaThce OE investrnent markets (see the investment policy and Performan and risk management sections of the Trustees. annual report for more informat&on). c) Fwid Structure Unrestricted Funds comprise those ndS which the trustees are free to use in accordan with the charitable objectb. The Expendable Endowrnent Fund represents those assetslcapital which are held for the longer term for the Charity, in accordance with the terms of the Trust Deed. The Expendable Endowment Fund can be used in accordance with the objects of the Charity and is induded in the Unrestricted Funds. Any capital gains or losses arising on the investments held in the Expendable Endowment Fund Eorrn part of that fimd. To the extent that 8rants paid exeeed the amount available Erom income funds, tratlsfers are made from the Expendable Endowment. Income arising on the Expendable Endowment Fund can be used in the Unrestricted Income Fund. Id) Income All income is recognised in the Statement of Financial Activities (SOFA} when the conditions Eor receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income tax has or will be nde such income is srossed up Eor the tax recoverable. The following accounting poliaes are applied to different categories of income.. Inve6tment Income Investment income is accounted for when reIv8b1e and ts stated gross of any reclaimable taxation relief. Page 8
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APIUL 2024 ICONVD) ACCOUNTING POLICIES Icof+TT'D) Expenditure Liabilities are reco8nised as soon as there is a legal OT CQDStructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accrua]s basis and has been classified under headings that aggregate all costs related to the category. The Eollowins accountin8 policies are applied to the di££erent categories ofj expendIre. Cost of Generattng Funds The cust raising funds consists ol inve$ttt*nt ttiana8ement fees and related c05t5. Ch4Atable Activities Costs OE charitable activities includes grants made and support and s0veMan costs. Donations payable are recosnised when they are approved by the trustees and the recipient of the srant has been informed of the amount to be paid. Supp(Jrt and Governqxce Costs Support and Governance costs comprise all costs &nvolvllE the public accountability of the charity and its compliance with regulation and good practi. These costs indude costs related to the independeDt examiner's fees together with support costs. Flxed Asset Investments Investments are stated at market value at the balan sheet dair. The SOFA indudes the net gains and losses on revaluats'on and disposals throughout the year. Forei Ctsrrencies Transactions in foreign currencies aTe recognised at the rate OE exchange at the dale of transaction. Monetary assets and liabllities are translated into sterling at the rate of exdiange on the balance sheet date. Exchange differences are recognised through the statement of financial activities. (h) Realisèd and Unrealisèd Gains and Losges All sains and losses are taken to the SOFA as they arise. Realised gains and losses on investments are calculated as the difference between sales PrOed5 and opening market value (purchase date if later). Unrealised gains and losses are calculated as the diEEerentt between the market value at the year end and opening market value lor purchase date if later). Critical accounting estimates and areas of judgement In preparing financial statements, it 15 necessary to make certain adjustments, estimates and asyumptions that affect the amounts recosntsed in the finanaal slatements. In the view of the Trustees in applying the accounting poliaes adopted, no judsements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a si8nificanl risk OE material adjustment in the next financial year. lj> Cash and cash equivalents Cash and cash equivalents include cash at baDS and in hand and short tenn deposits with a maturity date of three months of less. Pase 9
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ICONVD} ACCOUNTING POLICIES IcoNr'DI (k) Financial Instnunents The Charity4s financial instrumonts a]1 qualify as basic in accordance with Section IJ Basic Financial Instruments of FRS 102. Financial instruments are recognised in the Trnsvs balance sheet when the Trnst becomes party to the contractual provisions of the instrument. Finanaal assets and Liabilities are offset, with the net amounts presented in the financial statements, when there is a lesally enforceable risht to set off the rec(wiised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. INFORMATION RECARDINC TRUSTEES AND EMPLOYEES In the financial year ended 5 April 2024 none of the trustees received any remuneralion or had expenses reimbursed by the d)arity {2023- nil). The Charity has no employees. The trustees are considered to comprise the Charity's key management INVESTMENT INCOME 2024 2023 Incume from Investments Interest on cash deposits 68,0(Y) 2,667 70.676 62,387 1,702 64,089 COSTS OF CENERATING FUNDS 2024 2023 Investment Management Fee (after fee adjustment/Tebatesl Custodian and Administration Fees 7,6n 3,835 6,508 2.970 11,506 9.478 Pase 10
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ICONYD) CHARITABLE AcTIVlEs The tharity undertook no dirert charitable artivities but awarded donations to a number of institutions in htheraTIce of Its charitable actAvities as follows:_ 2024 Kent Medical School British Nepal Medical Trust Child RescLLe Nepal Crown and Manor Club Gurkha Welfare Trust Moroccan Earthquake Music Therapy Trust Royal caledoni9 Education Trust Sue Ryder Foundatii)n Donations under QOOO {14 donations in total) Total donations Les5 cancel donation (Ester Benajmin Trust) Support and GovernaJ)ce Costs (note 7) Total 3,0(K) 2,000 2,000 2,000 2,000 2,000 2JM)O 10,600 29,600 (I,000} 5,498 34,098 ANALYSIS OF DONATIONS MADE 2024 2023 2024 2023 The prevention of relief of poverty The advantrment of educativn The advancement of religion The advancement of health ot the saving oflives The advanmen1 ofj citizenship or commuDity The advancement of the arts. culture, heritase. or science The advancement of amateur SPOEt The adVanMent of environmental protection or improvement The advancement of animal welfare 3,600 5,000 5,800 11,000 7,0(10 20,850 1500 12,000 13 17 16,500 2,000 1,500 iioo 7,1rf)0 4,QOO 71250 23 59 29.6 Pase 11
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APIUL 2024 ICONTD SUPPORT AND GOVERNANCE COSTS Unrestricted Expendable Endowment Unrestricted Income 2024 Total 2023 Tutal Independent Exarniner Fee". - current year - prior year over accrual Legal and professonal Fees Bank Charses To tharAtable activities 1,200 {7001 1,200 17001 4,890 108 15,498) 2,740 4,890 108 {608) 97 (8,783) {4,890) FIXED ASSET INVESTMENTS Movement in fixed asset investments Unlisted Securities 2024 21r23 Listed Securities 21r24 2023 Total 2024 Total 2023 hlarket Value Brousht Forward Acquisitions at Cost L5 Disposal Proceeds Realised Gainslllosses) on disposals Net gainsl (loss) on 43,674 37.ln 2,125,444 1136,998 1169.118 2,174,169 368,1 229,471 368,177 1356,8961 1155J551 1356,8961 4169 15.6881 4169 229.471 1155.3551 {5,6881 10.253 6,503 132,860 (79,9821 143,113 {73,4791 TÈvaluation Market VaIue at 5 Apiyi Historicol Costs at 5 Aprtl 53,927 43.674 2,273,754 111SA44 2J27h81 2,169,118 28,845 28,845 1,831,648 1,813,399 1.860,493 1,842,244 Geo8raphical Analysis UK iLTrvestments Overseas investments 53,927 43,674 2,273,754 2.125,444 2,327,681 2,169,118 53,927 43fi74 2,273,754 1125A44 2,327*81 2,169,118 The following investments comprise in excess of 5% of the value of the portEolio: Investments Holding Value Thl Stonehage Flemin8 GBL Equities I A INC T Bailey Evenlode Global Income TM Redwheel UK Equity Income L GBP Pimco Global Advisors IRL Ltd Artemis Fund Manager Global Units UK Treasury Stock 0.875% 3110712036 Bluebay Fund Mana8ement Co SA GBL Ishare VII PLC USD Treasury Bond 134,226 130,453 157,569 18,635 110,823 172,500 587,239 194.362 174,428 169,954 146,686 130,869 124,883 122,241 27,207 Pase 12
Docusign EnvelopÈ ID." 2519488&C98W44BE-A4DD-7DA75095FFF5 THE STONEWALL PARK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ICONT'DI DEBTORS 2024 Total 2023 Total Fee Reba Due Tncome Due 274 7,978 11,252 5,282 5,570 io. CREDITORS FALLING DUE WITHIN ONE YEAR Unrestricted Expendable Endowment Unrestricted Income 2024 Total AcLTuals 4,344 4,344 1,200 1,200 5,544 5,544 Unrestrirted Expendable Endowment Unrestricted Income 2023 Total Accruals 4,066 4,066 2,500 200 6,566 6566 ANALYSIS OF CHARITABLE FUNDS Unrestricted Expendable Endowment Unrestricted tncome 2024 Total Investments Cash at batd( Debtors Creditors 2,327,681 6,651 288 {4,3441 2.330276 2,327,681 158,905 5.570 {5.544) 2.486.612 152.254 5,282 (1,2LX)) 156W6 Unrestricted Expendable Unrestrirted Endowment Jncume 2023 Total Investments Cash at bank Debtors Creditors 2,169,118 34,338 2,169.118 143,454 8,252 (6,566} 2.314,256 109,116 8,252 12.5001 114,868 (4,066) 2,199,390 Page 13