Charity regl$tration number 297846 THE STOKENCHURCH EDUCATIONAL CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
THE STOKENCHURCH EDUCATIONAL CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Tru¥tee$ MrA Palmer Cllr. Mrs C Baker Mr D Davis Mrs J Powis Reverend M Ackford Mrs V Nuthall IAppoinled 9 November 20231 Charity number 297846 Principal address Lawron House combe Road Slokenchurch High Wycombe Bucks HP14 3RR Ind•pgnd•nt examiner Azets Audit Services Sulle5 B & D Burnham Yard London End Beaconsfield Bucks HP9 2JH
THE STOKENCHURCH EDUCATIONAL CHARITY CONTENTS Page Trustees, report Independent examinèrfs reporl Statement of financial activilies Balance sheet Notes lo the financAal slalemenls 6-12
THE STOKENCHURCH EDUCATIONAL CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Iruslees present their annu81 report and financial statements for the year ended 30 Seplembei 2023. The financial statèments have been prepared in accordance with the accounting policies set out in note 110 the financial statements and comply with the charrty's governing do¢umenl. the Charf(ies Act 2011 and "Accounting and Reportirig by Charrties.. Statement of Recommended PraGtice applicable to charits'es preparing their accounts in aecordance with the Financial Reporting Standaid applicable in the UK and Republic of Iland IFRS 1021 leffective 1 January 20191" Objectives z4nd activities The trustees Shall apply the yearly income of the Charity. after payment of all proper costs, tharges and expènsès rèlating lo the administration and management ollhe Charity, in one or more of the following ways.. 1. In piomoting Ihe education and training of persons under the age of 25 years who reside In the Parish ol Slokenchurch and in particular, but without prejudice lo the generality of the foragoing in providing lor such persons.. a) Exhibitions, bursaries, grants and rnainlenance allowances lo such persons who are in need of finanual a551Stance tenable at any s¢hool. university or other edvcational establishmènt approved for the purpose by thè Iruslees. bl Financial assistance. outfi15. clothing. tools, instruments or books lo assist such persons to pursue their education (including the study of music and other arts), to undertakè travel in lurtherance thereof, and to pièpaie and train lor and ènter a profession. trade occupation or service on leaving school. university or other educational eslablishment. 2. If and in so far as income is not required in any year for appli¢alion in the rnanner aforesaid thè same may be applied as the trustees think fil for any charitable pufposes for the benefil of the inhabitants tsf Slokenchurch. The Iruslee5 consider that the charity has achieved ils objective5 during the year endèd 30 SeptembeT 2021. The trustees have paid due regard to guidance issued by the Charty Cornmission in deciding what activitiè$ the charity should undertake. Adv¥rti$ing During each academic year the trusteès place notice5 in local media and publi¢ places in the Parish of Stokenchurch inviting applications tor grants from re5Klents. Achievements and pèrforman¢e Investment Income generated was £77,020 from which grants of £54.692 were paid in the year in a¢cordance wrth thè directions of the Charity's scheme. After administrative and publicity costs there is a surplu5 for the year of £1.208. Profits totaling £5,18612022." £9,941) were recorded on the sale ol investments. The grant amounts for the academic ye3r 2022123 of £54,692. paid out in April and July 2023, were based on an income of £75.424 as reported in the 2021122 accounts. Financial revlèw RerVeS Policy The charily airns to invest its capital prudently lo provide income for grants and lo protect the inilial capital inve5trnenl. It does not have a policy of holding cash in reserve. Unrestrictèd funds at the year end were £2,696,395. Risk Pol•¢y The trustees have assessed the major risks to which the charity is exptssèd. and are satisfied that systems ar& Trn place to mitigate èxposure lo the major risks. The charity's lunds are managed by professional fund managers and are invested in medium high risk invèstments.
THE STOKENCHURCH EDUCATIONAL CHARITY TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounts The accounts will be madè available for public inspection al the annual parish audit. Structure, govemance and manag•ment The scheme foi the operation ol the Slokenchur¢h Educational Charity, previously known 8$ the Board School Slokenchurch. was approved by the Charity Commissioners for England and Wales on 16 July 1987 and 5 October 1990. The tiuslees, named below, have been appointed in accordance with the scheme. a5 follows.. 1 ex-officio Trustee. being the current vicar of St. Peter and St. Paul. Stokenchurch 3 nominative Trustees, Iwo appointed by tlie Parish Council of Stokenchurch and one by 8ucks County Council. èath of whom serves for four years 2 co-OPtalivÈ Truslees, who through resIder. occupation or employmènt. or otherwise. have special knowledge ol the parish of Slokenchurch, each of whorn serves for five years The Charity is operaled in 8¢¢ordance with tha scheme. Thè Charty owned land comprising approximately one acre, the sile of the fornier Board School in Slokenchurch. That was sold by the trustees in June 1988, realising £956,195 after costs of dispos81. The Iruslees who served during the year and up to the dale Of signature of the financial 51alemènts were.. IResigned 12 January 20231 MTS M ShurifKk MBE Mr A Palmer Cllr. Mrs C Baker Mr O Davis Mrs J Powis Revend M Ackford Mrs V Nuthall (Appoinled 9 November 2023} The trustees, report roved by the Board ol Trtsstees. Mr A Palmer Vice-Gh8ii of the Trustees Dated". 4 July 2024
THE STOKENCHURCH EDUCATIONAL CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE STOKENCHURCH EDUCATIONAL CHARITY I report lo the trustees On my examination of the financial statements of The Slokenchurch Educational Charity (the charity) for the yèai ended 30 September 2023. Responslbiliti*¥ and basis of report As the trustees of the charity you are responsible for the preparats'on of the financAal statements tn accordance wilh the requiremanls of the Charrties Act 2011 Ilhe 2011 Act). I report in respect of my examination of the charity's finanrial staternenls carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions gwen by Ihe Charity Commission under section 14515llbl of the 2011 Act. Independent examln•rf$ $tstement Your allèntitsn is drawn to the fact that the charity has prep8Ted financial statements in accordance with Accounting and Reporting by Charities preparing their aeeounls in accordance with the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland {FRS 1021 in preference lo the Accounting and Rèporting by Charities.. Statemènt of Recommended Pracllce issued on 1 April 2005 which is referred tts in the extant regulations but has now been withdrawn. understand that this has been done in order for financial statements lo provide a true and lair view in accordance with Generalty Accepted Accounting Pradice effective for reporting periods beginning on 01 after 1 January 2015. I have completed my examination. I confirm that no matters have come lo my attention in ¢onnection with the examination givin9 me cause to believe that in any material respect". accounling records were not kept in respect of the charity as required by sectr'on 130 of the 2011 Act., or the financial statements do not accord with those rècords., or the financial st8ternents do not Comply wilh the applicable requirements concerning the form and contenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremenl that the acwunts give a true and lair view which ig not a matter considered as part of an independent axamination. I hav& no concerns and havè come across no other matters in connection wrth the examination to which attèntion should be drawn in this report in order to enable a p¥oper understanding of the financial statements lo bè leached. Christopher Nisbal FCA Azels Audit Services SuitesB&D Burnham Yard London End Beaconsfi&ld Buckinghamshira HP9 2JH United Kingdom Dated." 4 July 2024
THE STOKENCHURCH EDUCATIONAL CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestricted Unrnstricted funds funds designated designatsd 2023 2022 Note$ Incomè from: Investments 77,020 75.424 Ex enditure on.. Raising funds 14.384 14.914 Charitable 8divities 61,428 47,378 Total expenditure 75.812 62,292 Nel gainslllossesl on investments 119.413 1240,7161 Net movem•nt in funds 120,621 1227,5841 Fund balances al 1 Oclober 2022 2,575,774 2,803,358 Fund balancès at 30 September 2023 2.6,395 2,575,774 The sialernent of financial activilies in¢ludes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivrtiès.
THE STOKENCHURCH EDUCATIONAL CHARITY BALANCE SHEET AS A T 30 SEPTEMBER 2023 2023 2022 Nots$ Fixed ass•ts Inveslrllenls Current a$8ets Debtors Cash al bank and in hand 10 2.382.512 2,264,428 11 3,468 317,808 214 316,402 321.276 316,616 Crèditors.. amounts falling due within ont year 13 17,3931 15,2701 Nel current assets 313,883 311,346 Totsl assets less current liabilities 2.696,395 2,575,774 Incomè funds Unrestricted funds 2.696,395 2,575,774 2,696,395 2,575,774 The financial statements were approved by the Trustaas on 4 July 2024 MrA almer Ic•4hair of the TrustÈ•s
THE STOKENCHURCH EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting policies Charity Infommtion The Stoken¢hurch Educational Charity is an unincorporated charity. 1.1 Accounllng convention The financial statements have been prepared in accord8nee wrth the charity's goveming document. the Charities Act 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Praoli¢e applicable to charities prèparing their accounts in ac¢ordan¢e wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191" The charity is a Public Bènefit Entity as dafined by FRS 102. The charity has taken advantage of Ihe provisions in the SORP for charilies applying FRS 102 Update Bullelin I not lo prepare a Statement ol Cash Flows. The financ4al statements are prepared in slerfing. whteh is the functional currency of the charity. Monetary amounls in these financial slalemenls are rounded lo the nearest £. The financial statements havè been prepared under the histori¢81 cost convention. The principal accounting policies adopted are sel out below. 1.2 Charfitable funds Unrestricted fvnds are available for use at the discretion of the tru5tee$ in furtherance ol their d)aritable obje¢tives. 1.3 Incomlng resour¢¢$ Income is recognised when the Charity is legally enlilled to it after any pèrformance conditions havè been mel, the amounts ¢8n be measured reliably, and it is probablè that income will be received. 1.4 R•sources exnded Liabilitie5 are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, il is probable Ihal a Iiansfer ol econorni¢ bÉnefits will be required in settlement and the amount of thè obligation bè measured ieliably. Expenditure 1$ 8ecounted for on an accruals basis and has been cla55ifiéd under headings that aggregate all eosl related tts the category. Vvhere costs cannot be directly altribuled to particular headings they have been allocated lo acliwlies on a basis consistent with the use of resources. Gran15 offered subject to ¢onditions which have not been met al the year end date are noted a5 a rMmrtMenI but not a¢crued as expendilura. 1.5 Fixed asset investments Fixed Asset Investments are staled in the balance sheet at market valuè al the balance sheet date. 1.6 Golng con¢•rn Al the lime ol approving the financial statements, the trustees havè a reasonable expectation that the chaiily has adequatè resources lo continue in oper8litsnal existence for the foreseeable future. In making this assessment. the trustees have considered the impacts, and expected future impacts, of the Covid-19 pandemic on both the charity and the environment ln which il operates.Thus the trustee$ ¢ontinue to adopt the going concern basis of accounting in preparing the fin8nryal statements.
THE STOKENCHURCH EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Investsn•nts Unrestrict•d funds d•siynated 2023 Tol81 2022 Dividends received Govemmenl securities Interest receivable 71,583 73.*0 1,250 214 5,437 77,020 75,424 Raising funds Unrestricted funds d•signat•d 2023 Total 2022 Investment management fees 14.384 14,914 14,384 14,914
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THE STOKENCHURCH EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Support costs Support Gtyvernanco eosts costs 2023 2022 Independent examination fee Legal and professional Posts9e and slalionery Meeting expenses Secretary's honorarium 1,800 504 268 564 3,600 1,800 504 268 1.680 268 290 3,410 6.736 6,736 5.648 Analysèd been Charitablè activities 6,736 6,736 5.648 Trustees None of the Iruslees lor any persons connected wilh them) received any remuneration or ben&fils from the charity during the year. Employ••s Ther6 were no ernployees during the year. Net galnslllossesl on invesknents Unr•strictèd funds d¢¥ignated 2023 Total 2022 Revaluation of investments Gainlllossl on salè of investments 114,227 5.186 {250,6571 9,941 119.413 1240.7161
THE STOKENCHURCH EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Taxation The charity is exempl from lax on income and gains falling within sectton 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects. 10 Fix•d asset investmènts Listèd investments maet Value At 1 October 2022 Additions Valuation changes Disposals 2.264,428 71,500 114.226 167.6421 At 30 September 2023 2,382.512 Carying amount At 30 September 2023 2,382,512 AI 30 September 2022 2,264.428 11 Dèbtors 2023 2022 Amounts falling due within one year: Other debtors 3.468 214 10-
THE STOKENCHURCH EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 12 Cash at Bank 023 otal funds 022 olal funds ital fund Income fund lo ds- 1567504 Llo ds- 2469093 harle5 Stanle 1900870 harle5 Stanle 1900874 Chades Stanle 1900871 Uoyds fixad lérrn deposits 13,597 1,447 ,013 1,557 260,414 20,000 13,597 1.447 0,793 1,557 60,414 0,000 2,895 1,438 7,36S ,552 37,152 0.000 11.780 otal 11,780 306,028 17,808 16,402 13 Crèditors.. amounts falling due within one year 2023 2022 Accruals and deferred income 7.393 5,270 14 Analysis of n•t ass•ts b•twe•n funds De¥ignated Designated funds funds 2023 2022 Fund balances at 30 September 2023 are represented by.. Inveslmènls Current assetsllliabilitiesl 2,382.512 313.883 2.264.428 311,346 2,696,395 2,S75,774 11
THE STOKENCHURCH EDUCATIONAL CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 15 R•lated party transactions Transactlons with related partiès During the yeai the charity entered into the following transactions with related parties.. Slokenchurch Educational Charity has earmarked a grant of £2,000 12022.. £6001 ft>r Stokenchurch Crickel Club. Mrs M Shurrock MBE is the Honorary President of Slokenchurch Cricket Club. Mrs M Shurrock was the Chairperson until 12 January 2023. 12-