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2023-04-05-accounts

THE CHARITY OF STELLA SYMONS

ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

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 2023

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 2023

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 2023

The trustees present their report along with the financial statements of the charity for the year ended 5 April 2023. 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 2023

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 £94,680 (2022 - £74,572), which were the only sources of income. The charitable distributions during the year amounted to £72,000 (2022 - £79,750), which were to various charities upon receipt of applications as set out in the objectives.

The total funds of the trust decreased to an aggregate of £2,096,677 as at 5 April 2023 (2022 - £2,482,159), due to a decrease in the 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 2023

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 17-Aug-23

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 2023

I report on the accounts of the Trust for the year ended 5 April 2023, 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 2023

----- Start of picture text -----
Unrestricted Funds Unrestricted Funds
Notes 2023 2022
£ £
INCOME
Investment income 3 94,680 74,572
EXPENDITURE
Charitable activities:
Grants payable 4 72,000 79,750
Governance costs 5 17,852 10,674
Total expenditure 89,852 90,424
Net gain on sale of investments 58,913 166,793
NET INCOME 63,741 150,941
Other recognised gains
(Loss) / gain on revaluation of investments 6 (449,223) 15,272
Net movement in funds (385,482) 166,213
Total funds brought forward 10 2,482,159 2,315,946
Total funds carried forward 10 2,096,677 2,482,159
----- 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 2023

----- Start of picture text -----
Unrestricted Funds Unrestricted Funds
Notes 2023 2022
£ £
FIXED ASSETS
Investments 6 2,005,587 2,416,383
CURRENT ASSETS
Debtors 8 41,825 20,445
Cash at bank and in hand 52,387 48,453
94,212 68,898
CURRENT LIABILITIES
Creditors: amounts falling due within
one year 9 3,122 3,122
NET CURRENT ASSETS 91,090 65,776
NET ASSETS 2,096,677 2,482,159
THE FUNDS OF THE CHARITY
Unrestricted funds 10 2,096,677 2,482,159
----- End of picture text -----

J S S Bosley Trustee

17-Aug-23

7

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

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 2023

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 2023

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)		 2023
£
38,269
56,214
197
94,680		 2022
£
55,667
18,898
7
74,572

10

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

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 2022
Additions to investments at cost
Disposals at carrying value
Net (loss) / gain in the year on revaluation
Market value at 5 April 2023
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		 2023
£
72,000
2023
£
500
3,160
13,865
144
-
183
17,852
2023
£
2,416,383
1,165,296
(1,126,869)
(449,223)
2,005,587
1,385,006
331,728
288,853
2,005,587
2,120,647
16.		 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

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

Investments in individual entities held at 5 April 2023 which are over 5% of the portfolio by value are:

ASC (Offshore) Income Fund - market value £654,718 (2022 - £721,600)

11

THE CHARITY OF STELLA SYMONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

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|2023|2022| |£|£| |Other debtors|41,825|20,445|

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

Included within 'Other debtors' are loans to Shipston Sports Clubs totalling £22,500 (2022: £15,000). All loans have been measured initially at fair value and subsequently at amortised cost.

9 CREDITORS

----- Start of picture text -----
|||| |---|---|---| |CREDITORS|2023|2022| |£|£| |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|losses|forward| |£|£|£|£|£| |Unrestricted funds|2,482,159|94,680|(89,852)|(390,310)|2,096,677|

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

12

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2023

£
Acorns Children’s Hospice 250
Action for Elders 250
Animal Antiks 250
Autism Bedfordshire 250
Bader Braves 250
Barnabus 250
Basildon Community Resource Centre 250
BDFA 250
BLESMA 250
BLISS 250
Blood Cancer UK 250
Brain Research 250
Brainwave 250
Brecon disAbled Club 250
Bright Sparks 250
British Red Cross 250
British Red Cross 500
British Wireless for the Blind 250
Brooke Animal Hospital 250
Build It International 250
CALM 250
Cardiac Rehab 250
CASCA Advocacy 250
CASE 250
Caudwell Children 250
Cerebral Palsy Plus 250
Charity Link 250
CHASE Africa 250
CHESS Homeless 250
Chestnut Tree Hospice 250
Child Rescue Nepal 500
Clapton Common Boys Club 250
Combat Stress 250
Community Infrastructure 500
Compass Children’s Charity 250
Concern Worldwide 250
Concern Worldwide 250
Conquest Art 250
CONTACT 250
County Air Ambulance Trust 250
Crimoinion UK 250
Crohn’s & Colitis Relief 250
Cystic Fibrosis Eastside Community Trust 250
David Shepherd Wildlife Foundation 250
Deaf Blind UK 250
DEC Ukraine Appeal 5,000
Dementia Support 1,000
Derian House Hospice 250
Diabetes UK 250
Disabled Sailors 250
Ditch the Label 250
Dream Holidays 250

13

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2023

£

Dream Makers 250
Dreams Come True 250
Dressability 500
Durham Association of Boys and Girls Clubs 250
East Bristol Advice and Information Centres 250
Edinburgh Headway 250
Emerge 250
Erskine 250
ExeAccess 250
Extra Cover Trust 1,500
Eyes Open 250
Families United Network 250
Family Holiday Charity 250
Fauna & Flora International 250
Food Lifeline 250
Food Lifeline 250
Forest of Avon Trust 250
Francis House Children’s Hospice 250
Freedom Kit Bags 250
Freshfields Animal Rescue 250
Frontier Youth Trust 250
Galapagos Conservation Trust 250
Global Care 250
Go Beyond 250
Go Beyond 500
Great Ormond Street Children’s Hospital Charity 250
Great Western Air Ambulance Charity 250
Grove Cottage 250
Halo Project 1,000
Happy Days 250
Headway Devon 250
Hearts & Minds 250
Helen Arkell Dyslexia Charity 250
Help for Heroes 250
Honington Parish Meeting 500
Hope for Justice 250
Hope for Tomorrow 250
Hospice Care Northumberland 250
Hotline Meals Service 250
Hurdle 250
International Spinal Research Trust 250
JigsawSouth east 500
Julia’s House 250
KEMP 250
Kidney Care UK 250
Kids Club Kampala 250
Kids Space 250
Kol Banaich 250
KSS Air AMbulance 250
Lakeland Day Care Hospice 250
Legs Africa 250

14

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2023

£
Leicester Charity 250
Leukaemia & Myeloma Research 250
London Air Ambulance Charity 250
Maggie Keswick Jen 1,000
Maggie’s 250
Mary Stevens Hospital 250
Mary’s Meals 250
Mencap Leeds 250
Mercia Therapy Centre 250
MIND 250
Montessori Group 250
MS Society 250
Muscular Dystrophy UK 250
My AFK 250
Myaware 250
NACOA 250
NARS 250
NeuroMuscular Centre 250
New Bridge Foundation 250
Norfolk Family Carers 250
NSARDA 250
OCD Action 500
Off the Fence 250
Open Road 250
Oxford Hospitals Charity 250
Peer Advice Services 250
People’s Trust for Endangered Species 250
People's Trust for Endangered Species 250
Pham 250
Porridge & Pens for Ghana 250
PRAMA Life 250
Prostate Cancer UK 250
Rainbows 250
Rainforest Concern 250
REACT 250
React 250
Rennie Grove Hospice Care 250
Resolve west 250
Retina UK 250
RNID 250
Robbie Anderson Cancer Trust 1,000
ROCK UK 250
Royal Air Force benevolent Fund 250
Royal Hospital for Neardisability 250
RSBC 250
Safe Child Thailand 250
SCOPE 250
Second Chance 250
SHINE 250
Siblings Together 250
Siobhan's Trust 1,000

15

THE CHARITY OF STELLA SYMONS

INSTITUTIONAL GRANTS FOR THE YEAR ENDED 5 APRIL 2023

Social Square
Solar Aid
SPANA
SSAFA
St David’s Hospice Care
St Giles’ Hospice Care
St Pauls Advice Centre
St Richards Hospice
St Wilfrids Hospice
Strongbones Children’s Charitable Trust
STUBS
Sunshine Wishes Children’s Charity
Tall Ships Youth Trust
Target Ovarian Cancer
Teen Action
The 3H Foundation
The Barn Owl Trust
The Brain Tumour Charity
The Children’s Society
The Children's Charity Trust
The Cordon Sailing Trust
The Derbyshire Federation for Mental Health
The Happy and Healthy Trust
The Hospice Charity
The Jessie May Trust
The Linda Tremble Foundation
The Migraine Trust
The Miscarriage Association
The Robbie Anderson Cancer Trust
The Royal Star & Garter Homes
The Soil Association
The Sussex Snowdrop Trust
The Sylvia Wright Trust
The Urology Foundation
Tiny Tim’s Children’s Centre
Tom’s Trust
UCL Hospitals Charitable Trust
Wessex Cancer Trust
Whale & Dolphin Conservation Society
Whittington Health Trust
Wildlife Trust Staffordshire
World Horse Welfare
Worldwide Literacy
YMCA England
YMCA Milton Keynes
YMCA Reading
Yorkshire Children’s Trust
Zambia Orphans Aid UK
TOTAL		 £
250
250
250
250
250
250
250
250
5,000
250
250
250
5,000
250
250
250
250
250
250
250
250
250
250
250
250
500
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
250
72,000

16