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2022-04-05-accounts

THE CHARITY OF STELLA SYMONS

ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022

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 2022

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 14

THE CHARITY OF STELLA SYMONS

CHARITY INFORMATION FOR THE YEAR ENDED 5 APRIL 2022

TRUSTEES

Mrs J E Warnick Mrs K Willis 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 2022

The trustees present their report along with the financial statements of the charity for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accounting policies set out on pages 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 2022

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 £74,572 (2021 - £81,875), which were the only sources of income. The charitable distributions during the year amounted to £79,750 (2021 - £89,800), 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 £2,482,159 as at 5 April 2022 (2021 - £2,315,946), 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 2022

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: 8 November 2022

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 2022

I report on the accounts of the Trust for the year ended 5 April 2022, 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 2022

----- Start of picture text -----
Unrestricted Funds Unrestricted Funds
Notes 2022 2021
£ £
INCOME
Investment income 3 74,572 81,875
EXPENDITURE
Charitable activities:
Grants payable 4 79,750 89,800
Governance costs 5 10,674 9,735
Total expenditure 90,424 99,535
Net gain / (loss) on sale of investments 166,793 (7,303)
NET INCOME 150,941 (24,963)
Other recognised gains
Gain on revaluation of investments 6 15,272 456,470
Net movement in funds 166,213 431,507
Total funds brought forward 10 2,315,946 1,884,439
Total funds carried forward 10 2,482,159 2,315,946
----- End of picture text -----

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 2022

----- Start of picture text -----
Unrestricted Funds Unrestricted Funds
Notes 2022 2021
£ £
FIXED ASSETS
Investments 6 2,416,383 2,241,902
CURRENT ASSETS
Debtors 8 20,445 26,891
Cash at bank and in hand 48,453 50,275
68,898 77,166
CURRENT LIABILITIES
Creditors: amounts falling due within
one year 9 3,122 3,122
NET CURRENT ASSETS 65,776 74,044
NET ASSETS 2,482,159 2,315,946
THE FUNDS OF THE CHARITY
Unrestricted funds 10 2,482,159 2,315,946
----- End of picture text -----

Approved by the Trustees on 8 November 2022 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 2022

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 principles. 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 2022

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 2022

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)		 2022
£
55,667
18,898
7
74,572		 2021
£
66,174
15,687
14
81,875

10

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

4
GRANTS PAYABLE
Grants payable
5
GOVERNANCE COSTS
Accountancy fees - examining the accounts
Accountancy fees - other
Management fees
Bank charges
Printing, postage and stationery
Subscriptions
6
INVESTMENTS
Market value at 6 April 2021
Additions to investments at cost
Disposals at carrying value
Net gain in the year on revaluation
Market value at 5 April 2022
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		 2022
£
79,750
2022
£
500
3,040
6,884
32
43
175
10,674
2022
£
2,241,902
944,517
(785,308)
15,272
2,416,383
2,077,920
140,280
198,183
2,416,383
2,082,220
14.		 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

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

Investments in individual entities held at 5 April 2022 which are over 5% of the portfolio by value are:

ASC (Offshore) Income Fund - market value £721,600 (2021 - £670,119)

11

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022

7 STAFF COSTS

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

8 DEBTORS

----- Start of picture text -----
|||| |---|---|---| |DEBTORS|2022|2021| |£|£| |Other debtors|20,445|26,891|

----- End of picture text -----

Included within 'Other debtors' are two loans to Shipston Sports Club totalling £15,000 (2021: £17,500). Both loans have been measured initially at fair value and subsequently at amortised cost.

9 CREDITORS

----- Start of picture text -----
|||| |---|---|---| |CREDITORS|2022|2021| |£|£| |Accruals and deferred income|3,122|3,122|

----- End of picture text -----

10 SUMMARY OF FUNDS MOVEMENTS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Fund|Fund| |balance|Other|balance| |brought|recognised|carried| |forward|Income|Expenditure|gains|forward| |£|£|£|£|£| |Unrestricted funds|2,315,946|74,572|(90,424)|182,065|2,482,159|

----- End of picture text -----

12

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2022

£
Alive Activities 250
AMREF 500
AMREF 250
Army Benevolent Fund 500
Aspergers Children 250
Bede House Association 250
Carbon Copy Trust 600
Care 4 Calais 250
Chichester Foodbank 500
Children on the Edge 500
Children on the Edge 2,500
Children on the Edge 2,500
Chipping Norton Theatre 600
City Harvest 600
Clean Rivers Trust 250
DEC Ukraine Appeal 10,000
Dementia Support 1,000
Durham Association of Boys Clubs 250
ERIC 250
Extra Cover Trust 500
Farming Cmmunity Network 1,000
Four Paws UK 250
Galapagos Conservation Society 250
Ghurka Welfare Trust 250
Home Start Richmnd 600
Home Start South Warwickshire 8,000
Hope Project 250
Jake McCarthey Foundation 500
JE Warnick re donation 250
Kids Klub Kampala 250
Kids n Action 250
Lifepsace Trust 1,000
London Air Ambulance 250
Lowlands Farm RDA 1,000
Making Space 250
Martha Trust 250
Marys Meals 500
Moira Anderson Foundation 250
Motor Neurone Disease Society 1,000
MS Therapy Centre Coventry 500
Muiscal Keys 250
Norwood & Brixton Food Bank 600
OPA Cancer Charity 250
Oxford Hospitals Trust 250
Phoebe 250
Plan International 250
Playschule 250
Police Community Hubs of GB 500
Porridge & Pens 250
Portsmouth Foodbank 500
RABI 500
Renewable World 600
Richmond Foodbank 600

13

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2022

£

RISE Brighton
RNIB
RNLI
Robbie Anderson Trust
Royal Marsden Cancer Charity
Sailors Childrens Society
Sea Shepherd
Sebakwe Black Rhino Trust
Sense Trust
Shakespeare Hospice
SHELTER
Shipston Foodbank
Shipston Home Nursing
Shipston Hospital League of Friends
SPAnA
SPEAR
St Wilfrid's Hospice
STCF Philanthorpy
Stratford Foodbank
Sunny Days Childrens Charity
Surfers Against Sewage
Tall Ships Youth Trust
Teddington Theatre Company
The Africa Foundation
The Donkey Sanctuary
The Felix Project
The Hackney Shelter
The Honeypot Childrens Charity
The Landmark Arts Trust
The Rivers Trust
The Rossendale Trust
The SOFA Project
The Trussell Trust
The Trussell Trust
The Vineyard Community Centre
TUSK
Versus Arthritis
Whoopsadaisy Brighton
Winstons Wish
World Land Bank
Worldwide Veterinary Service
Young Minds
Young Minds Trust
TOTAL		 500
500
250
3,000
600
250
600
500
250
500
600
500
500
500
250
600
1,000
250
500
250
600
3,000
600
500
250
1,000
250
250
600
600
250
250
500
10,000
1,000
1,000
250
250
500
1,000
250
500
250
79,750

14