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2021-04-05-accounts

THE CHARITY OF STELLA SYMONS

ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021

The MGroup Partnership Chartered Certified Accountants Cranbrook House 287-291 Banbury Road, Oxford OX2 7JQ

Charity Number: 259638

THE CHARITY OF STELLA SYMONS

ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021

CONTENTS PAGES
Charity information 1
Report of the trustees 2 to 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 to 12
Institutional grants 13 to 16

THE CHARITY OF STELLA SYMONS

CHARITY INFORMATION FOR THE YEAR ENDED 5 APRIL 2021

TRUSTEES

Mrs J E Warnick Mrs K Willis Mr J S S Bosley

PRINCIPAL OFFICE

20 Mill Street Shipston-on-Stour Warwickshire CV36 4AW

REGISTERED CHARITY NUMBER

259638

ACCOUNTANTS

The MGroup Partnership Chartered Certified Accountants Cranbrook House 287-291 Banbury Road Oxford OX2 7JQ

BANKERS

HSBC 13 Chapel Street Stratford-upon-Avon Warwickshire CV37 6ET

INVESTMENT MANAGERS

Harris Allday 33 Great Charles Street Birmingham B3 3JN

Aberdeen Standard Capital 1 George Street Edinburgh EH2 2LL

1

THE CHARITY OF STELLA SYMONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021

The trustees present their report along with the financial statements of the charity for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 8 to 10 and comply with the charity's trust deed and applicable law.

CONSTITUTION AND OBJECTS

The Charity of Stella Symons is constituted under a Trust Deed dated 1 February 1968 and is a registered charity (number 259638). The Trust Deed gives the trustees the power to apply the annual income of the trust upon such charitable trusts and for such charitable purposes as they shall in their uncontrolled discretion determine.

The objects of the charity continued to be that of providing financial support to a wide range of charitable organisations providing benefits for the public in the United Kingdom and overseas. The support may take the form of a loan but more usually is made as a donation.

The trustees have a policy of only making contributions where they believe that a public benefit will be derived from the use of the funds made available.

The trustees currently have a policy of supporting organisations in a wide geographic area including those active in the United Kingdom and overseas and cover a wide range of activities including those living in poverty.

We have referred to the guidance contained on the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

ORGANISATION

The trustees who have served during the year and since the year end are set out on page 1.

All decisions are made by the trustees.

New trustees are appointed by agreement between the existing trustees.

TRUSTEE INDUCTION AND TRAINING

Trustees are given information regarding the financial state of the trust including expected income and expenditure for the forthcoming year. Trustees have access to financial information at all times.

The charity is a member of the West Midlands Charitable Trust Group and copies of the Charity Commission Newsletter are made available for trustees. New trustees, when appointed, will undergo an induction process to make them aware of their duties and responsibilities as trustees and of the specific objects and operating procedures of this trust.

GRANT MAKING POLICY

The trustees respond to applications for grants where a grant is to be made and in the main will only support organisations registered as charities with the Charity Commission. If this is not the case the trustees will only offer support where they are confident that the funds are to be used for public benefit.

2

THE CHARITY OF STELLA SYMONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021

ACHIEVEMENTS AND PERFORMANCE

The charity has distributed the income arising from its investments in each year and a record of distributions is kept and included in the annual accounts for the charity. The trustees believe that the charity provides a valuable and much needed and appreciated source of funding for the organisations it supports.

FINANCIAL REVIEW AND INVESTMENT POLICY

The activities of the trust included receiving income during the year from both investments and bank interest receivable of £81,875 (2020 - £76,525), which were the only sources of income. The charitable distributions during the year amounted to £89,800 (2020 - £92,250), which were to various charities upon receipt of applications as set out in the objectives.

The total funds of the trust increased to an aggregate of £2,315,946 as at 5 April 2021 (2020 - £1,884,439), due to increasing market value of investments held.

The investment strategy is set by the trustees.

Investment performance is monitored by the trustees through monthly valuations and annual investment reports provided by the fund managers, Harris Allday and Aberdeen Standard Capital. (Day-to-day management is carried out by Harris Allday and Aberdeen Standard Capital.) The Trustees operate an investment policy which is updated periodically.

FUTURE PLANS

The future plans for the trust are to distribute income realised during each year in excess of costs in accordance with the distribution policies which are reviewed periodically.

RESERVES POLICY

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity.

The trustees oversee the level of income reserves held and consider whether they are sufficient in order that the charity meets its needs effectively.

RISK MANAGEMENT

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established so that the necessary steps can be taken to lessen these risks.

3

THE CHARITY OF STELLA SYMONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021

TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees and signed on their behalf by:

J S S Bosley Trustee Date: 11 November 2021

4

THE CHARITY OF STELLA SYMONS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARITY OF STELLA SYMONS FOR THE YEAR ENDED 5 APRIL 2021

I report on the accounts of the Trust for the year ended 5 April 2021, which are set out on pages 6 to 12.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charties Act 2011 ("the Act"). The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

  1. examine the accounts under section 145 of the 2011 Act;

  2. to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

  3. to state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 130 of the 2011 Act: and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

5

THE CHARITY OF STELLA SYMONS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021

Notes
INCOME
Investment income
3
EXPENDITURE
Charitable activities:
Grants payable
4
Governance costs
5
Total expenditure
Net (loss) / gain on sale of investments
NET INCOME
Other recognised gains / (losses)
Gain / (loss) on revaluation of investments
6
Net movement in funds
Total funds brought forward
10
Total funds carried forward
10		 81,875
76,525
89,800
92,250
9,735
10,641
99,535
102,891
(7,303)
121,050
(24,963)
94,684
456,470
(509,160)
431,507
(414,476)
1,884,439
2,298,915
2,315,946
1,884,439
£
£
Unrestricted Funds
2021
Unrestricted Funds
2020

The results for the year derive from continuing activities and there are no gains or losses other than those shown above.

6

THE CHARITY OF STELLA SYMONS

BALANCE SHEET AS AT 5 APRIL 2021

Notes
FIXED ASSETS
Investments
6
CURRENT ASSETS
Debtors
8
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within
one year
9
NET CURRENT ASSETS
NET ASSETS
THE FUNDS OF THE CHARITY
Unrestricted funds
10		 2,241,902
1,754,147
26,891
68,292
50,275
65,123
77,166
133,415
3,122
3,123
74,044
130,292
2,315,946
1,884,439
2,315,946
1,884,439
Unrestricted Funds
2021
2020
£
£
Unrestricted Funds		 2,241,902
1,754,147
26,891
68,292
50,275
65,123
77,166
133,415
3,122
3,123
74,044
130,292
2,315,946
1,884,439
2,315,946
1,884,439
Unrestricted Funds
2021
2020
£
£
Unrestricted Funds
1,884,439
1,884,439

Approved by the Trustees on 11 November 2021 and signed on its behalf by:

J S S Bosley Trustee

7

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

1 GENERAL INFORMATION

The Charity of Stella Symons is a registered charity and is a public benefit entity. Its principal office is:

20 Mill Street Shipston-on-Stour Warwickshire CV36 4AW

The financial statements are presented in Sterling, which is the functional currency of the charity.

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting convention

The accounts (financial statements) have been prepared in accordance with the Charities Act 2011 and applicable regulations.

The accounts have been prepared under the receipts and payments princples. The items have been recognised at their cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

There are no material uncertainties about the charity's ability to continue as a going concern.

Investment income

Dividends are included in the Statement of Financial Activities when they are declared at an amount excluding the tax recoverable from HM Revenue and Customs.

Bank interest is included within investment income when the charity is entitled to receipt.

Expenditure

Expenditure is included on a receipts and payments basis.

Grants payable are recognised upon date of payment.

Management and administration comprises costs for the running of the charity itself as an organisation.

8

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Fixed asset investments

Stocks and shares quoted on the London Stock Exchange have been revalued in the balance sheet at market value. Any gain or loss on revaluation is taken to the Statement of Financial Activities. No unquoted investments are held.

All investments are held primarily to provide an investment return for the charity.

9

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

VAT

As the charity is not registered for Value Added Tax, all costs are VAT inclusive.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

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.

3
INVESTMENT INCOME
Dividends and interest on listed investments
Overseas unit trust income
Interest on cash deposits
Total investment income (unrestricted)		 2021
2020
£
£
66,174
57,649
15,687
18,741
14
135
81,875
76,525

10

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

4
GRANTS PAYABLE
Grants payable
5
GOVERNANCE COSTS
Accountancy fees - examining the accounts
Accountancy fees - other
Management fees
Printing, postage and stationery
Subscriptions
6
INVESTMENTS
Market value at 6 April 2020
Additions to investments at cost
Disposals at carrying value
Net gain / (loss) in the year on revaluation
Market value at 5 April 2021
Investments at market value comprised:
UK equities
Non UK equities
UK fixed interest securities
Historical cost
The charity provides donations to a wide range of institutions, shown on pages 13 to		 2021
£
89,800
2021
£
500
2,920
6,081
64
170
9,735
2021
£
1,754,147
804,559
(773,274)
456,470
2,241,902
1,616,834
253,020
372,048
2,241,902
1,923,011
16.		 2020
£
92,250
2020
£
500
2,800
6,890
261
190
10,641
2020
£
2,127,213
767,662
(631,568)
(509,160)
1,754,147
1,199,977
284,428
269,742
1,754,147
1,891,726

All investments are listed securities and are shown at market value.

Investments in individual entities held at 5 April 2021 which are over 5% of the portfolio by value are: ASC (Offshore) Income Fund - market value £670,119 (2020 - £547,295)

11

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

7 STAFF COSTS

During the year the charity had no employment related expenditure and the trustees were not reimbursed for any expenses.

8 DEBTORS 2021 2020
£ £
Other debtors 26,891 68,292

Included within 'Other debtors' are two loans to Shipston Sports Club totalling £17,500 (2020: £18,500). Both loans have been measured initially at fair value and subsequently at amortised cost.

9 CREDITORS 2021 2020
£ £
Accruals and deferred income 3,122 3,123
Fund Fund
balance Other balance
brought recognised carried
forward Income Expenditure gains / (losses) forward
£ £ £ £ £
Unrestricted funds 1,884,439 81,875 (99,535) 449,167 2,315,946

12

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2021

£
2nd Warwick Sea Scout Group 250
ABF The Soldiers Charity 500
Alder Hey Children's Charity 250
AMREF Health Africa 250
Anthoy Nolan 250
Anti-Slavery International 250
Aspergers Childen and Carer Trust 250
BCCS 250
BIBIC 250
Blesma 250
Blind Veterans UK 250
Bone Cancer Research Trust 250
Bowel Cancer UK 250
Boxes of Basics 250
Brain Research UK 250
Brain Tumour Support 250
Bristol Children's Charity 250
Brooke 250
CAF Appeal 10,000
Canley Community Centre 250
Charity Link 250
Chichester Foodbank 250
Child Autism UK 250
Child's I Foundation 250
Chrysalis Holidays 250
Clapton Common Boys Club 250
COIF Charites Appeal Eventing 250
Coram Life Education Hillingdon Ltd 250
CURE UK 250
Cygnets Education Charity 400
David Shepherd Wildlife Trust 500
David Shepherd Wildlife Trust 500
Dementia Support 1,000
Derby Toc H Children's Camp 250
Designability 250
Dodford Children's Farm 250
Downside Up 250
Durham Association of Boys and Girls Clubs 250
East Anglian Air Ambulance 250
Extra Cover 250
Father Hudson's Care 250
Feeding Britain 1,500
Feeding Coventry 250
Friends of Idlicote Church 250
GL11 Community Hub 250
Good Neighbours Coventry 250
Great Ormond Street Hospital Charity 250
Great Western Air Ambulance 250
Grove Adventure Playground 250
Hackney Quest 250
Hampshire & Isle of Wight Air Ambulance 250
Headway Tyneside 250
Heart of England Commmunity Association 2,500

13

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2021

£
Home from Hospital care 250
Home Start Oxford 250
Home-Start South Wariwckshire 3,500
Itala Foundation 250
Jake Macarthey Foundation 500
Jessie May Hospice 250
John Fawcett Foundation 250
Keech Hospice Care 250
KEMP Hospice 250
Kids Club Kampala 250
Landmark Arts Centre 800
Lennox Children's Cancer Fund 250
Levi's Star 250
Lilian Faithful Care 250
London Air Ambulance 250
Lowlands RDA 250
Lucy Air Ambulance for Children 250
Macmillan Cancer Support 250
Martha Trust 250
Mary's Meals 250
Miscarriage Association 250
MS Therapy Centre Bedfordshire & Northants 250
MS Therapy Centre Coventry 1,000
Nansa 250
NASS 250
National Emergency Appeal 10,000
National Tremor Foundation 250
Off the Record 250
Orchestra of the Sun 250
Penny Brohn UK 250
PHOEBE 250
Plan International UK 250
Police Community Clubs of GB 250
Princess Alice Hospice 500
QEF 250
RABI 500
RAF Benevolent Fund 250
Reigate & Banstead Women's Aid 250
Retina UK 250
Revitalise 250
RISE 1,000
RISE 1,000
Robbie Anderson Cancer Trust 500
Rose Road Association 250
Roy Castle Lung Cancer Fund 250
Safety net UK 250
SANDS 250
Sayers Croft Trust 250
Scampps in Surrey 250
Second Chance 250
Sexey's Hospital 250
Shakespeare Hospice 250
Shipston Foodbank 250

14

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2021

£
Shipston Home Nursing 500
Shipston Home Nursing 250
Shipston on Stour Hospital League of Friends 500
SNAPS 250
Sofa Project 250
South Warwickshire Home Start 8,000
Spencer Contact 250
Spinal Muscular Atrophy UK 250
St Michaels fellowship 250
St Pauls Advice Centre 250
St Wilfrid's Hospice 1,000
Step Together 250
Stonepillow 250
Stratford Food Bank 500
Stratford Foodbank 250
Strongbones Children's Charitable Trust 250
Tall Ships Charity 250
Teenage Cancer Trust 250
The Africa Foundation 1,500
The Bouncing Ball Trust 250
The Childhood Trust 1,500
The Children's Adventure Farm Trust 250
The Counselling Centre 250
The Felix Project 600
The Ghurka Welfare Trust 250
The Gifted 250
The Giving Hands Mission 250
The Honeypot Children's Charity 250
The Light House 250
The Lullaby Trust 250
The Marine Conservation Society 250
The Matthew Trust 250
The Movement Centre 250
The Pit Pony Sanctuary 250
The Respite Association 250
The Sebakwe Black Rhino Trust 250
The Sylvia Wright Trust 250
The Theatre Chipping Norton 250
The Trussell Trust 1,000
Tom's Trust 250
Tools4Teens 250
Triple H Trust 250
Trussell Trust 5,000
Up 'n Away 250
Wainman Trust 250
Warwickshire Young Carers Trust 250
West Sussex MIND 500
Winston's Wish 250
World Child Cancer 250
Worldwide Veterinary Service 250
YMCA 250
Young Bristol 250
Young Minds 250

15

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2021

Young Women's Trust
Youth on the Move (London)
TOTAL		 £
250
250
89,800

16