**Stonesfield Community Trust Charity Number: 288308** **Unaudited Accounts** **for the year ended 5th April 2025** **Wenn Townsend** Chartered Accountants **Oxford** **Stonesfield Community Trust** ## **Reference and administrative information** |**Trustees**:|M Hatton (Chair)| |---|---| ||J C Bryon| ||P McArdell| ||A Bryon| ||R Oddy| |**Correspondence address**:|9 Greenfield Road| ||Stonesfield| ||Oxon| ||OX29 8EQ| |**Registered Number**:|288308| |**Independent examiner**:|B Hayes BSc FCA| ||Wenn Townsend| ||Chartered Accountants| ||30 St Giles| ||Oxford| ||OX1 3LE| |**Bankers**:|CAF Bank Limited| ||PO Box 289| ||West Malling| ||Kent| ||ME19 4TA| ## **Stonesfield Community Trust** ## **Report of the Trustees for the year ended 5th April 2025** The Trustees present their annual report and the unaudited financial statements for the year ended 5th April 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Charity. ## **Structure, governance and management** The Charity is a trust and was set up on 31st October 1983. It is governed by a declaration of trust originally dated October 1983 and amended in April 2007. The Trustees meet quarterly to review the administration and performance of the Trust. Care is taken to recruit only trustees who have intimate knowledge and experience of the community. ## **Objectives and activities for the public benefit** The Charity’s objects as per its governing document are the relief of poverty, the advancement of education and the provision of charitable recreational facilities with the object of improving the conditions of life of the inhabitants of Stonesfield, Oxfordshire. To achieve these objectives, the charity has aimed to continue to provide affordable housing to local residents in the properties that it currently holds. It has also aimed to continue to identify worthy local causes for financial support. The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. ## **Achievements and performance** The Charity has continued to provide affordable housing to the residents of Stonesfield and to enable it to do this, the Charity obtained income, mostly from rental income, of £83,611 (2024: £88,421) in the year. The Charity has continued to make grants to help with the educational and physical welfare of disadvantaged children within the village and has started to assist with further education costs where appropriate. It is also involved in the support of local sporting facilities. The charity also committed funds to the refurbishment of several properties in the period, with repair costs of c£29k expended to ensure that the quality of the accommodation provided remains appropriate to support its charitable objectives. Both property and donation costs were increased on the spend in the prior year, and as a result, the Charity had a reduced net result in 2025 with a deficit of £12,592 (2024: £32,099 surplus) for the year. ## **Financial review** The Trustees are pleased with the continuing reduction in the loans originally obtained to purchase the Charity’s property. As a result of a significant land sale in 2020, the Charity’s net current assets remain healthy at £219,662 at 5th April 2025 (2024: £247,002). During the prior year the trustees designated funds totalling £190,000 for future pipeline projects, with the aim being to enable provision of additional housing to local people in need, and this figure sits at £170,000 at 5[th] April 2025. As a result, free reserves at 5th April 2025 stand at £61,089, which is approximately in line with 12 months budgeted costs excluding donations. The Trustees are comfortable with this position as a target level, as although rentals received will meet creditors as they fall due, they are mindful of the potential impact of high costs of living, and other macroeconomic factors on the charity, and particularly the demand for its services. The charity remains well placed to meet that demand and is content it has sufficient resources available to assist local residents in continuing uncertain times. This report was approved by the Trustees on 15[th] January 2026 and signed by: **On behalf of the Trustees** **M Hatton** - 1 - ## **Stonesfield Community Trust** ## **Independent Examiner's Report to the Trustees of Stonesfield Community Trust** I report to the charity trustees on my examination of the accounts of the charity for the year ended 5th April 2025 which are set out on pages 3 to 8. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached. ## **B Hayes BSc FCA, Partner** **Wenn Townsend** **Chartered Accountants** **Oxford** **15[th] January 2026** - 2 - ## **Stonesfield Community Trust** ## **Statement of Financial Activities for the year ended 5th April 2025** ||**Note**||| |---|---|---|---| |||**Total**|**Total**| |||**Unrestricted**|**Unrestricted**| |||**Funds**|**Funds**| |||**2025**|**2024**| |**Income from:**|||| |Charitable activities: rents receivable||77,857|83,233| |Investments|**2**|5,754|5,188| |||───────|───────| |**Total income**||83,611|88,421| |||───────|───────| |**Expenditure on:**|||| |Costs of raising funds:|||| |Loan interest||18,151|19,170| |Charitable activities:|||| |Property costs||29,475|14,888| |Support costs|**3**|11,953|11,482| |Donations|**4**|36,624|10,782| |||───────|───────| |**Total expenditure**||96,203|56,322| |||───────|───────| |**Net income / (expenditure)**||(12,592)|32,099| |||───────|───────| |**Total funds brought forward**||£1,244,137|£1,212,038| |**Net movement in funds**||(12,592)|32,099| |||───────|───────| |**Total funds carried forward**||£1,231,545|£1,244,137| |||═══════|═══════| All income and expenditure derive from continuing activities. All income and expenditure in 2024/25 related to unrestricted funds only. - 3 - ## **Stonesfield Community Trust** ## **Balance Sheet 5th April 2025** ||**Note**|**2025**|**2024**| |---|---|---|---| |**Fixed assets**|||| |Tangible assets|7|1,206,937|1,203,538| |**Current assets**|||| |Amounts receivable from tenants||2,175|3,000| |Cash at bank and in hand||247,581|259,948| |**Creditors**: Amounts falling due|||| |within one year|8
|(30,094)|(15,946)| |||───────|───────| |**Net current assets**||£ 219,662|£ 247,002| |||**───────**|───────| |**Total assets less current liabilities**||1,426,599|1,450,540| |**Creditors**: Amounts falling due|||| |after one year|9|(195,054)|(206,403)| |||───────|───────| |**Net assets**||£1,231,545|£1,244,137| |||═══════|═══════| |**Reserves**|||| |Unrestricted funds: general funds||61,089|57,002| |Unrestricted funds: designated property funds||1,000,456|997,135| |Unrestricted funds: designated project fund||170,000|190,000| |||───────|───────| |**Total funds**|10|1,231,545|£1,244,137| |||═══════|═══════| These financial statements were approved by the Trustees on 15[th] January 2026 and signed on their behalf by: _________________________ ## **M Hatton Trustee** **The notes on pages 5 to 8 form part of these accounts** - 4 - ## **Stonesfield Community Trust** ## **Notes to the Accounts for the year ended 5th April 2025** ## **1 Summary of significant accounting policies** ## **a) General information and basis of preparation** Stonesfield Community Trust is a charitable trust in England. The address of the principal office is given in the charity information in these financial statements. The nature of the charity’s operations and principal activities are as noted in the Trustees Report. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **b) Fund accounting** Unrestricted funds 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for specific purposes. The aim and use of each designated fund is set out in the notes to the financial statements. ## **c) Income** All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. ## **d) Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. ## **e) Tangible fixed assets** Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. No depreciation is charged on the freehold property on the grounds that the estimated residual value of the property is not less than the carrying amount of the asset and hence any depreciation arising would be immaterial. - 5 - **Stonesfield Community Trust** ## **Notes to the Accounts (continued) for the year ended 5th April 2025** ## **1 Summary of significant accounting policies (continued)** **f) Loans and borrowings** Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. ## **g) Going concern** The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. This has included an assessment of the impact of emerging global issues on forecast figures. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. ## **2. Investment income** ## **3.** |**Investment income**||| |---|---|---| ||**2025**|**2024**| |Bank interest received|£ 5,754|£ 5,188| ||`══════`|`══════`| |**Support costs**||| ||**2025**|**2024**| |Insurance|3,921|3,472| |Administrative and sundry costs|6,505|6,300| |Governance costs (see note 5)|1,527|1,710| ||`──────`|`──────`| ||£ 11,953|£ 11,482| ||`══════`|`══════`| ## **4. Donations made** In 2024/25 the following donations were made: - Stonesfield School - £3,960 - for Forest School costs - Stonesfield Village Hall - £2,764 - for baby and toddler hire - Stonesfield Playing Field - £2,500 - for fencing - Stonesfield Scouts Group - £5,000 - for contribution to costs - Stonesfield Cricket Club - £1,400 - for score shed - Stonesfield Youth Football Club £1,000 - for football kit - • Stonesfield Pre-School - £20,000 - for assistance with site move In 2023/24 the following donations were made: - Stonesfield School - Stonesfield Village Hall - Stonesfield Playing Field - Stonesfield Sports and Social Club - Autism UK - £2,640 - for Forest School costs - £1,642 - for baby and toddler hire - £3,000 - for Beer Festival funding assistance £1,000 - for score box - £2,500 - for assistance with local resident - 6 - **Stonesfield Community Trust** ## **Notes to the Accounts (continued) for the year ended 5th April 2025** |**5.**|**Governance Costs**|||| |---|---|---|---|---| ||||**2025**|**2024**| ||Independent examiner’s fee|£|1,527|£ 1,710| ||||═════|═════| ## **6. Trustees' and key management personnel remuneration and expenses** The Trustees neither received nor waived any remuneration during the year (2024: £Nil). The total amount of employee benefits received by key management personnel is £Nil (2024: £Nil). The Trust considers its key management personnel comprise the Trustees. There were no expenses reimbursed to Trustees during the year (2024: £nil). ## **7. Tangible fixed assets** |**Tangible fixed assets**|| |---|---| ||**Freehold land**| ||**& buildings**| |**Cost/valuation**|| |At 6th April 2024|1,203,538| |Additions|3,399| ||───────| |At 5th April 2025|£1,206,937| ||═══════| |**Depreciation**|| |At 6th April 2024 and at 5th April 2025|£ -| ||═══════| |**Net book value**|| |At 5th April 2025|£1,206,937| ||═══════| |At 5th April 2024|£1,203,538| ||═══════| The land and buildings owned by the charity are: Freehold properties 1 to 4a Friends Close, Stonesfield 1 to 5 Rose & Crown, Stonesfield Hillcrest, Stonesfield Units 1,2,3 and 4, Glovers Yard, Stonesfield The Trustees have elected, in accordance with FRS 102, to use the carrying value at 6th April 2014 (the transition date) of the freehold property carried at valuation, as its deemed cost. No depreciation has been charged on the freehold property as the charity’s policy is to maintain its property in good condition and the estimated residual value is not less than its net book value at any given time, and hence any depreciation is considered to be immaterial. The Trustees adopt a policy of regular maintenance and repair of the property. Tangible fixed assets with a net book value of £466,000 (2024: £466,000) have been pledged as security for liabilities of the charity. - 7 - ## **Stonesfield Community Trust** ## **Notes to the Accounts for the year ended 5th April 2025 (continued)** **8. Creditors:** amounts falling due within one year ## **9.** ||**2025**|**2024**| |---|---|---| |Bank loans (secured)|11,427|10,825| |Other creditors|2,034|1,241| |Accruals and trade payables|16,633|3,880| ||`──────`|`──────`| ||£ 30,094|£ 15,946| ||`══════`|`══════`| |**Creditors:**amounts falling due after one year||| ||**2025**|**2024**| |Bank loans (secured)|£ 195,054|£ 206,403| ||`══════`|`══════`| |The bank loans shown within this note are repayable as follows:||| |Between 1 and 2 years|12,468|11,811| |Between 2 and 5 years|44,643|42,288| |After 5 years|137,943|152,304| ||`──────`|`──────`| ||£ 195,054|£ 206,403| ||`══════`|`══════`| The bank loans are secured by a mortgage charge on some of the freehold property (see note 7). ## **10. Funds** During the prior period, the trustees reviewed the total funds held, and allocated monies to two designated funds to better reflect the current position of the Trust. The book value of property assets held, less the closing balance on the long term loan element, is now presented as a designated property fund, to reflect the fact that these are illiquid assets held for charitable purposes and thus not part of general funds. A balance of £190,000 was also earmarked for use on future projects, and thus included as a designated project fund as at the year end date. This designated fund was reduced to £170,000 at the current year end following costs expended on properties in the period. ## **11. Related party transactions** During the current period £2,500 (2024: £3,000) was awarded to Stonesfield Playing Field Association (charity number 1181091). One of the trustees, Mr M Hatton, is also a trustee of this charity. Mr Hatton was not involved in the decision to approve the award of this grant, with it being discussed and approved by the other trustees, and the award is firmly in line with the charitable objects of the Trust. There were no other related party transactions during the current or preceding period. - 8 -