REGISTERED CHARITY NUMBER: 284579 Report of tht Trustees and Unludited FinAn¢l41 SIAtemenls for the Year Ended 31 July 2023 for Sto¢kwell ChArlt*ble Trust Tayabali Tomlin Chartered Accountants Ken(on House Oxford Sireet Moreton-in-marsh Gloucestershire GL56 OLA
Stockivell Charitable Trust Contents of the Financial Statements for the year ended 31 July 2023 Page Report of the Truste¢5 Independent Examlner'$ R¢port Statement of Flnan¢lal Actlvltles Balance Shee¢ Notes to the Flnanclal Sta¢emoDts 7 to 11 Detalled StAttment of FlnAnclal Aetlvltles 12
Stockwell Ch#ritable Trust RL'port of the Trustees ror Ihe ye2r ended 31 July 2023 The trustees present their report with the financtal statements of the cbarity for the year ended 31 July 2023. The (nistees have adopted the provisiolls of Accounting and Repot1ing by Charities.. Statement of Recommended Practice appltcable io charities preparing their accounts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Public benefil In addition to ihe gifts from the Trustees, other kind donors, and the income from the Trust's investments, the Trust has received income from the sculpture shows organised every two years Iwww.sculptureatkinghamlodge.com).These accounts include ihe proceeds of the 2023 show. Att¢ndance. of the public was similar to that of 2021 (around 9,000). However. the show was open for thr¢e days in the preceding iveek for local schoolchildren lo come and see their work alongside that of the professional SCLilptors from the UK and Zimbabwe. This experience gave the children immense satisfaction and boost¢d their self-confidencc to be recognised as Artisis. The public were blown away by the quality. exuberance and lun ol- the children's installations. Some 2.5(M) children visited the show. and many returned with their pai'cnts the following week. The Trust's main benefit to th¢ publi¢ is providing donations and grants to other charitable bodies in the UK and overseas. however due to thc sculpture show being held every two years. the Trustees have decided not to make larger grants in the year of a show bui will conrinue making grants in the years with no show. A well as the gyants it provides lo oiher charities. the Trusi has expanded its work with local schools. This aspect of the Trust's work continues lo grow. While we have aimed lo ensure the continuation of our support to charities ive have helped for many years. as our work in sch¢)ols expands. we need to increase our available funds. This could be achieved either through expanding the incorne from the sculptllTe shows or soliciting grants for the work in schools, or both. The state curriculum no longer provides funding for music and art in local primary schools (although OFSTED says schools are to provide these ihings) and so the trust hos be¢n funding a programme to assisi art education. li is now working with 23 local schools and some 3,500 children. This involves a number of local artists running art clubs and providing art experiences to the whole school each terni. We are grateful for the support of other Ift1$ and donors for this work. We are also gratctul for the support of Kingham Hill School, Bloxham school, and Oxford Brookes University in helping train teachers to use the art cupboards, that we have stocke& in other lessons. Academi¢ studies show ¢l¢arly the benefits children derive from art and music. It is not simply tbe slimulus for creativity and d¢xl¢rity, key to primary educations as this is. it is also the process of Working together with disctpline and order (pani¢ul<irly key to music). The Trusiees are exploring whether other partners can b¢ found to extend their work iviLh music education in local schools. Since the ¢nd of the financial year. the Trust has expended a great dcal of the Trustees, tim¢ in creating a new pannership with Cotswolds Arts Through Schools. along with other local arts organisations. This pl rtn¢rship is now soliciting grants and direct donalion5 to offer art. music. drdma, dance and ora¢y in even more ofthe local primary schools. The Trust is acting as the ¢onduit for receiving donations and grants from other trLlSts and local authorities to expand this schools work in 2023-24. If this effort succeeds, a separate trust will be created to carry the ivork fonvard on a long-term basis. Page I
Stockwell Charitable Trust Report o( the Trustees for the year ended 31 July 2023 OBJECTIVES AND AcfiviTIES Public benefit (continued) The Sculpture show {www.sculptureatkinghamlodge.com) is organised as part of Oxfordshire Artiveeks, thus attendance is free. If visitors enjoy the show. they can leavc a donation. All local schools are invited to bring all their pupils lo see ihe children's work alongside the work of other sculptors. Immense pl¢asur¢ 2nd uryderstanding of art is derived from this participation. For thc 2023 show visitors were encour2oed to give through a lickel scheme with Eventbrite. We anticipate thal in 2025 there will be a tiekct chargc plus a donation, so all members of the public do contribute. The Trustees hav¢ complied with their duty to have due regard to the commission's public benefit guidance wh¢n exercising any powers or dulles to which the guidance is relevanl. Accounts have been prepared and independently examined in accordance with the law and guidance from the Charity Comrnission. At the end of 2022 several grants had been approved but had not been cleared through the bank and so are included in this year's totals of grants made in the year ending 2023. FINANCIAL REVIEW Reserves policy Tl)e reserves policy is to maintain the expendable ¢ndowment in suilable ethical investinent funds. Thc trustees are aware of ihe facl that the legal guidance to tftsslees, derived originally from the Bishop of Oxford decision. is unsatisfactory and offers insufficient guidance as to the investment poli¢ies tliey should pursiie. Ai a time of climate change threats the trustees feel they should define closer parameters ensuring their investments are not conlributing lo global warniing in exccss of1.5C or in any other way contradicting tl)eir charitable objectives. A¢¢ordingly they ar¢ party to exploring how legal clarification can be obtained. As the tncome is considerably more in a show year, which is every two years, we keep back some from the year with a show to spend in the following year. thus smoothing recipients inwme. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documenL a deed of trust and ¢onstitutes an unincorporaied charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 284579 Principal address Kingham Lodge West EDd KinghaTt] Chipping Norton Oxfordshire OX7 6YL Trustee$ The Rev C A C Hall CD Stockwell Mrs M C Colville Mrs P M Griffiths Page 2
Stoekwell Cknaritsble Trust Rewbrt of the Trustees for the year ended 31 Juty 2023 Trustees The Rev C A C Hall CD Sto¢kwell Mrs M C Colville Mr5 P M GritTIths lttdependent Examiner Sophia Maynell Tayabali Tomlin Chanered Accountants Kenton House Oxford Sireet Moreton-in-marsh Gloucegtet3hire GL56 OLA Approved by otller of the EKyard of tsustees on 6 Febrnary 2024 and signed on its behalf by.. CD stkwe l - Tnjstee Page 3
llldep¢ndeDt Examiner's Report to the TtteS of Stockwell Cbaritsble TnL8t IndepettdeDt examiner's rew)rt ¢0 the trustees of Stoekwell Charitsble Trust I reFKTrrt to the Charity tntstees on my examination of the accounts of Stockwell Charitsble Tnjst (the Trust) for the year ended 31 July 2023. RespoDsibilitie5 and basi¥ of report As the charity tnjstees of the Trust you are responsible for the preparntion of the a¢counts in accordance with the requirements of the Charities Act 2011 {'the Act.). l port in respect of my ¢xamination of the Trusi's accounts carricd out under Section 145 of the Act and in carrying out my examination I have followed all applicable DlrtttloS givcn by the ChaTity Commission under Section 145(5Xb) of the Act. IDdepeDdeDt examiner's statement Since your ch¢uity's gross income exceeded £250.(KK) your examiTkr must be a mewnttr of a listed ix)dy. I can confirm thai l atn qualified to undertake the examination Fmuse l am a memiw of the Institute of Chartered Accountants in England and we& whi¢h is one of the li5tcd tKKlies. I have ¢ompleted my examination. I confirm ihat no Materi maners have come to my attention in conne10n wilh the examination giving me cause lo klieve that in anv material rest. accounting records were not kept in restxct of Tn as required by Section 130 of the A¢t; or the accounts do not accord with those records. or the accounts do not comply with the applicable rquirements concerning the fomi and ¢ontenl of ac¢ounts sei out in the Chariiies (Accounts and Rep)rts) Regulations 21K>8 other than Any requirem¢n( that the accounts give a true and fair view which is not a maller considered as part of an independent emmination. I have no concerns and have come rO&S Th) other matters in ronnection with the examination to which attention should be drawn in this rerxTrrt in order to enable a rffoper understanding of the accounts to be rea¢hed. Sophia Maynell Tayabali Tomlin Chartered Accounthnts Kenton House Oxford Stre Motrton-in-M5h Gloucestershir¢ GL56 OLA 6 FebNary 2024 Page 4
Stockwell Charitable Trust Ststement of Finaneial Aetii'ities ror the year ended JI Jul) 2023 2023 Unrestrieted fund 2022 Totsl funds Nos INCOME AND ENDOWMENTS FROM Donations and legacies 311,655 15,460 Investment income 1,035 Total 312,508 16.495 EXPF.NDITURE ON Charitable activitie Donations and grants 78,110 53,036 Other 215,925 28,211 Tot1 294,035 81.247 Net gain{losses) on investments (2,023) (7.458) NET INCOMEI(F.XPF.NDITURE) 1&450 172.210) RF.CONCILIATION OF FUNDS Tutsl lund¥' broublit lorward 245045 317,255 TOTAL FUNDS CARRIED FORWARD 261,495 245.045 The notes forni Fert of these financial ststements Page S
Sto¢kwell Cbaritable Trust Balance Sheet 31 July 2023 2023 urtrICted fund 2022 Tothl funds Notes CURRENT ASSETS Debtot Investments Cash at bank 11.5,636 172,521 97.310 149.349 292,757 246.659 CREDITORS Amounts falling due within one year {31,262) (1,614) NET CURRENT ASSETS 261.495 245.045 TOTAL ASSETS LESS CURRENT LIABILITIES 261,495 245.045 NET ASSETS 261,495 245.045 FUNDS Unrestricl¢d funds 261.493 245.045 TOTAL FUNDS 201,495 245.045 The finan¢ial Sialements were approved by the &)ard of Tte¢S and authorised for issue on 6 February 2024 arkd were signed on its behaif by: CD St(xkwell - slee The notes fomj part of these fina]&] siatetnents Page 6
Stockwell Charitable Trust Noles to the Fiiiancithl Statement5 ror Ihe )e#r cndcd 31 Jul), 2023 ACCOUNTING POLICIES Basis of prepariiig the financial 5tat¢m¢nts The tinancial staiemenis of the charity, which is a public benefit entity under FRS 102, have been prepared in accordan¢¢ with the Charilies SORP (FRS 102) 'Accouniing and Reporting by Charities= Stlltenient of Recommended Practi¢¢ appli¢able io ¢hariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (effeclivc l JanLiary 2019),. Financial Reporting Siandard 102 The Financigl Reporting StandaTd applicable in the UK and Republic of Ireland. and ihe Charities Act 2011. The financial slaiements hav¢ be¢n prepared under the historical cost convention. Incorne All incoine is recobinised in ihe Statcmenl of Financial Activilies once Ihe charity lias entitlement to Ihc funds. it is probabl¢ thal th¢ income will be received and the amounl can be measured reliably. F.xpendilure Liabilities are recognis¢d as ¢xpenditure as soon as there is a legal or constructive obli8ation coininitting the charity to that expendilure. it is probable ihal a transfer of economic bencfils will be required in setilem¢nt and the amoun¢ of ihe obligaiion can be measured reliably. Expendilure is accoLinted for on an a¢criials basis and has been classified under headings ihat aggregate all cosi rclatcd to the calegory. Where costs cannol be directly allribuled lo particular headings they have been allocAied to A¢tivities on a basis consistent with th¢ use of resouffes. TXtIOn 'I'he iharily is exempl from lax on its chariiable activities. li und a¢counling UnrLStriclcd lunds can be used in accordance with the charitabl¢ obj¢¢tives Ai the discretion of the trusleeg. Reslricled funds can only be used for panicular restricted purposes wiihin the objects of the charity. Restri¢tions arise when specified by the donor or when funds are raised for particular reslricled purposes. runher explanation of the nature and purpo of each fund is included in the notes to the fsnancial s¢alements. Pag¢ 7 ontinued...
Stockwell Charitable Trust Notes to the Financial Statements- continued for the year ellded 31 July 2023 INVESTMENT INCOME 2023 2022 Dividends and int¢st income 853 1.035 TRUSTEES, REMUNERATION AND BENEFITS Ther¢ were no trustees, remuneration or oiher benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022. TTU5tees' expenses The were no trustees, expenses paid for th¢ year ended 31 July 2023 nor for the year ended 31 July 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and lega¢i¢s 15,460 Inv¢stment income 1,035 Total 16,495 EXPENDITURE ON Charitable activities Donations and grants 53,036 Other 28,211 Total 81,247 Net gainsl(losses) on investments (7,458) NET INCOMEI(EXPENDITURE) (72,210) RECONCILIATION OF FUNDS Total funds brought forward 317,255 Page 8 continued.
Siockwell Charitable Trust Note5 to Ihe fi inancial Statements - continued for the year ended 31 Jul). 2023 CONIPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - tontinved Unrestricted fund TOTAI. FUNDS CARRIED 'ORIVARD 245,045 DEBTORS: AqoUNTs FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtors 4,600 CURRF.N'f ASSE'f 1Tr4VESTMENTS 2023 2022 Listed investments 115,636 97.310 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Oihcr crcdiiors 31,262 1,614 qOVEMLNT IN FUNDS Net mov¢inenl in funds Al 31n123 At 118122 Unreslricled funds General lund 245.045 16,450 261,495 TOTAL FUNDS 245,045 16,450 261,495 Page 9 conlinued...
Stockwell Charitable Trust Notes to the Financial Statements- Continued ror the year ended 31 July 2023 MOVEMENT IN FUNDS - continued Net movem¢nt in funds. included in the o1)ove or¢ as follows: Incoming resour¢¢s Resources expended Gains and Movenient losses in funds Unr¢$tri¢t¢d funds General fund 312,508 (294,035) (2,023) 16,450 TOTAL FUNDS 312,508 (294,035) {2,023) 16,450 Comparatlves for movement In funds Nct movement in funds Al 3117122 At 118121 Unrestricted funds General fund 317.255 (72,210) 245,045 TOTAL FUNDS 317,255 (72,2101 245,045 Comparative net movement in funds, included in the above are as follows.. Incoming resources R¢sour¢¢s expended Gains and Mov¢m¢nl losses in funds Unre5tri<ted fundi General fund 16.495 (81,247) (7.458) (72,2101 TOTAL FUNDS 16,495 (81.247) (7,458) {72,210) Page 10 ¢ontinu¢d...
Stoekwell Charitable Trust N'oles to the Financial Statements- continued for the year ended 31 July 2023 MOVEMENT IN FUNDS- tontinued A current y¢ar 12 months and prior year 12 months combined position is as follows: Net movement in funds At 3117123 At 118121 Unrestricted funds General lund 317255 (55.760) 261,495 TOTAL FUNDS 317.255 (55,760) 261,495 A current y¢ar 12 months and prior year 12 months combined net movement in funds. included tn the abov¢ are as follows.. Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds Gen¢r41 tund 329.003 {375,282) (9,481) (55,760) TOTAL FUNDS 329,003 {375.282) (9.481) (55.760) RELATED PARTY DISCLOSURES There were no related party trdnsaciions for the year ended 31 July 2023. Pagell
Stockwell Charitable Trust Detailed Statement of Financi41 Actlvlties for the year ended 31 July 2023 2023 2022 INCOME AND ENDOWMENTS Donations and legaeies Donations and charitable activities Gift aid 307,953 3,702 1 5,460 311,655 15,460 Investment intome Dividends and interest incom¢ 853 1.035 Total Incomlng resources 312,508 16,495 EXPENDITURE Charitlble aetivities Donations and grants 78,110 53.036 Support tostj MAnagemettt Sculptor's fees Art and garden exnSeS 163,725 48,264 16,186 10,344 211,989 26,530 Finnnte Bank charges 2,382 145 Govornance Costs Accountsncy and lesal fees 1.$54 1,536 Total resources exp¢nded 294,035 81,247 Net incomel(expenditure) before g#in$ nd 1055es 18,47J (64,752) Gainslllosses) on fjxed asset Investments Realised gainsl{losses) on fixed asset investments (2,023) (7,458) Net in¢omel(expenditure) 16,4SO (72,210) This page does not forni part of the #tutOry financial statements Page 12