**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.
..............................
- 1 -
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:
- 1 accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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
- 3 -
## **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.
- 4 -
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
$8,159
57.574
Total as190 cuffont114bllNle•
2,591.240
2,682.818
Tho funds ofth• tru•t
Unrestricted fvnd$
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.
- 6 -
## **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|
- 7 -
## **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|
- 8 -
## **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|
- 9 -
## **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.
- 10 -
## **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.
- 11 -