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2024-04-05-accounts

Charity registration number 280926 (England and Wales)

THE STRATTON NO.2 CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

THE STRATTON NO.2 CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

C Cobb (Appointed 27 November 2023) C Keisner (Appointed 27 November 2023) T Cobb (Appointed 27 November 2023)

Charity number (England and Wales) 280926

Principal address Woodbine Cottage Nether Winchendon Aylesbury Buckinghamshire HP18 0EA

Independent examiner

Richardsons 30 Upper High Street Thame Oxfordshire OX9 3EZ

THE STRATTON NO.2 CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 11

THE STRATTON NO.2 CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2024

The trustees present their annual report and financial statements for the year ended 5 April 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's governing document, a deed of trust, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The trust's objective is to make donations to charitable organisations. There has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Achievements and performance

Financial review

At the year end the Charity held total funds of £2,591,240 compared to £2,682,818 in 2023. This was partly due to an decrease in value of investments held in the year. All funds were undesignated

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Charity made donations of £108,000 to charitable organisations during the year, as detailed in note 5.

The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The trust is an unincorporated charity, governed by a deed of trust.

The trustees who served during the year and up to the date of signature of the financial statements were: D L Barker (Resigned 27 November 2023) Miss K A Stratton MBE (Resigned 19 May 2023) C Cobb (Appointed 27 November 2023) C Keisner (Appointed 27 November 2023) T Cobb (Appointed 27 November 2023)

No new trustees were appointed in the year.

Statement of trustees' responsibilities

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

The trustees' report was approved by the Board of Trustees.

..............................

THE STRArroN NO.2 CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 Truste6 Dated.. ..2.2 .1: If

THE STRATTON NO.2 CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE STRATTON NO.2 CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of The Stratton No.2 Charitable Trust (the trust) for the year ended 5 April 2024.

Responsibilities and basis of report

As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Leanne Hickman, ACA Richardsons 30 Upper High Street Thame Oxfordshire OX9 3EZ

Dated: .........................22/01/2025

THE STRATTON NO.2 CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 - 117,873
Investments 4 121,876 128,583
Total income 121,876 246,456
Expenditure on:
Charitable activities 5 130,622 145,549
Total expenditure 130,622 145,549
Net gains/(losses) on investments 9 (82,832) (202,174)
Net expenditure and movement in funds (91,578) (101,267)
Reconciliation of funds:
Fund balances at 6 April 2023 2,682,818 2,784,085
Fund balances at 5 April 2024 2,591,240 2,682,818

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE STRArroN NO.2 CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Flxad 4Y50ts Investments 11 2,533.081 2,825,244 CuTrnt •ss•ts Cash at bank and in hand 58,159 57,574 Not current a$s•ts $8,159 57.574 Total as￿￿19￿0 cuffont114bllNle• 2,591.240 2,682.818 Tho funds ofth• tru•t Unrestricted fvnd$ 12 2,591.240 2.882,818 2,591.240 2.682,818 The finanryal statements were approved by thg trustee8 Ul .. c crtjb Tru•ts

THE STRATTON NO.2 CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

Charity information

The Stratton No.2 Charitable Trust is an unincorporated charity controlled by its governing document, a deed of trust.

1.1 Accounting convention

The accounts have been prepared in accordance with the trust's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

All funds are unrestricted. Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Incoming resources

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Resources expended

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

THE STRATTON NO.2 CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

(Continued)

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required 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 may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts - 117,873

THE STRATTON NO.2 CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 117,241 126,180
Interest receivable 4,635 2,403
121,876 128,583

THE STRATTON NO.2 CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

5 Charitable activities

Willen Hospice
Great Ormond Street Hospital
Thames Valley & Chiltern Air Ambulance Trust
Help for Heroes
The Horse Trust
Scanappeal
Florence Nightingale House
Medical Detection dogs
Combat Stress
South Bucks Riding for disabled
Horatios garden
World Vision UK
Maggies
Dogs Trust
Shelter
RNIB
Medicins Sans Frontieres
Aylesbury Vale Academy
British Wheelchair Sports Foundation
RNLI - Porthdinllaen
BACO and Blood Cancer
Haemochromatosis UK
HSOBC Ltd
Bucks Assoc for the care of offenders
DCSET
Supporting Wounded Veterens
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds
For the year ended 5 April 2023
Unrestricted funds		 2024
£
-
-
-
-
-
-
10,000
-
-
-
-
10,000
-
-
-
-
-
10,000
10,000
10,000
1,000
10,000
10,000
7,000
20,000
10,000
108,000
22,622
130,622
130,622
130,622		 2023
£
8,000
8,000
10,000
8,000
8,000
8,000
10,000
8,000
8,000
5,000
8,000
-
8,000
8,000
5,000
10,000
6,000
-
-
-
-
-
-
-
-
-
126,000
19,549
145,549
145,549
145,549

THE STRATTON NO.2 CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

6 Support costs allocated to activities

Total Total
2024 2023
£ £
Governance 22,622 19,549

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. In the year, management expenses of £nil has been paid to trustees (2023- £nil)

8 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments (82,832) (202,174)

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE STRATTON NO.2 CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

11 Fixed asset investments

Listed
investments
£
Cost or valuation
At 6 April 2023 2,625,244
Additions 150,566
Valuation changes (82,832)
Disposals (159,897)
At 5 April 2024 2,533,081
Carrying amount
At 05 April 2024 2,533,081
At 05 April 2023 2,625,244

12 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 6 April
2023
Incoming
resources
Resources
expended
Gains and
losses
£
£
£
£
2,682,818
121,876
(130,622)
(82,832)
At 6 April
2022
Incoming
resources
Resources
expended
Gains and
losses
£
£
£
£
2,784,085
246,456
(145,549)
(202,174)		 At 5 April
2024
£
2,591,240
At 5 April
2023
£
2,682,818

13 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

Remuneration of key management personnel

No remuneration was paid to key management personnel of the charity.