REGISTERED CHARifi NUMBER: 309614 Report of the Trustees and Unaudlted Financial Statements forthe Year Ended 31 March 2024 for 5troud and Rodborough Educational Charity GCSD Xeinadin Limited 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT
Stroud and Rodborough Educational Charity Content5 of the Financial Statements forthe Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 20 Detailed Statement of Financial Activities 21 to 22
5troud and Rodborough Educational Charlty Report of the Trustees forthe Year Ended 31 March 2024 The Trustees present their report with the financial statements of the Charity for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland {FRS1021 (effective l January 20191. OBJECTIVES AND ACTIVITIES Policies and objectives The Trustees are responsible for safeguarding the assets of the Charity and for managing and letting of lands. Its objects are.. l. To provide such special benefits of any kind not normally provided by the local education authority for Marling School. Stroud High School and Archway School. 2. To promote the education of persons under the age of 25 who are resident in the area of benefit and are in need of financial assistance. 3. To provide financial assistance to any charitable organisation in the area of benefit, the objects of which include the advancement of education. or the improvement of the conditions of life for such persons developing their physical. mental and moral capacities through leisure time activities. The area of benefit shall mean the area of the parishes comprising Stroud Rural District that is to say Bisley- with-Lypiatt, Chalford, Cranham, Horsley, King's Stanley. Leonard Stanley, Minchinhampton, Miserden, Pain5wick. Pitchcombe, Randwick, Rodborough, Stonehouse, Thrupp. Whiteshill, and Woodchester and the area of Stroud and Nailsworth Urban Districts. Strategles for achievlng objectives The Trustees wish to continue to support the benefit schools and young people in the area o* benefit. This will be accomplished by the investment policy and the management of the property owned and let by the Charity to produce income. The Trustees are happy that there are no signif icant issues that may affect the continuance of the Charity's aims. However. due to the current financial climate. donations to the area of benefit may reduce or fluctuate in line with the stock market performance. Public benefit In setting objettives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity IPB21'. The Tru5tee5 are not aware of any detriment caused by the Charity's objects or activities, and nor are they aware of anyone receiving any private benefit from the Charity's activities. Page I
Stroud and Rodborough Educational Charlty Report of the Trustees forthe Year Ended 31 March 2024 oBJEIVEs AND ACTIVITIES Grantmaking The total grants made during the year to 31st March 2024 were £60.375 this included grants to: Stroud High School Marling School Archway School £12,073 £9,000 £12.249 The remainder of the grants were distributed in accordance with the Charity's objectives. ACHIEVEMENT AND PERFORMANCE Review of Charitable artivities The properties at Downfield House continue to be rented out to tenants. The School of Art continues to be rented out. The Trustees continue to maintain the property. The Trustees have plans to change the heating system at significant cost. The Charity does not have any relationship with any charities or organisations other than being a beneficiary of The Feoffees Charity and a benefactorto three Schools that come under the Charity's area of benefit. Investment policy and performance The Charity's investment powers are now conferred by the Trustees Act 2000, and any cash not required for immediate working purposes must be invested in the name of the Official Custodian for Charities unless the Charity Commission directs otherwise. The Trustees have considered the most appropriate policy for investing fltnds and following legal advice from Paula Smith at Leonard Curtis Legal Ltd, the Trustees made the decision to move investments to a total return policy using a bas line investment if £800,000. Continuing to Use specialised unit trusts designed for the charity sector to meet their requirements to generate both income and growth. The Trustee5 monitor the investments closely. Risks and internal and external factors The Trustees acknowledge their responsibility to assess and mltigate the major risks to which the Charity is exposed. The Trustees have conducted a review of the major risks to which the Charity is exposed and. where appropriate. systems or procedures have been established to mitigate those risk5 relating to fraud and error. Internal control risks are minimised by the implementation of procedures for authorisation of transactions. Page 2
Stroud and Rodborough Educational Charity Report of the Trustees forthe Year Ended 31 March 2024 FINANCIAL REVIEW Financlal positlon The value of investments as at the year end was £1,310,99612023: £1.231,115}. The total income received during the year amounted to £124,198 including donations from The Feoffees Charity, with expenditure totalling £135,679. This resulted in an operational loss of £11,481, but after total investment gains of £94,880, a net income for the year of £83,399. Principal funding sources The main sources of funds are derived from the investments held and managed by the investment managers appointed and rental income from the properties. During the year ended 31 March 2024 the Charity received donations from The Feoffees Charity- Reserves policy The Trustees have a £20,000 reserve policy to cover any costs that may occur with the property owned by the Charity. Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt a going concern basis in preparing the financial statements. The Trustees acknowledge the fact that investments are likely to fluctuate in the future which will possibly reduce the amount of income generated thus reducing the level of donations. FUTURE PLANS AND DEVELOPMENT The Trustees plan to continue to deliver charitable relief to the area of benefit by continuing to monitor the investments and make adjustmentswhere necessaryto achieve those aims. TheTrustees have appliedto the Charity Commission to include Maidenhill School and Sir Thomas Keble as beneficiary schools. STRucfuRE, GOVERNANCE AND MANAGEMENT Charity constitution Stroud and Rodborough Educational Charity are two Charities brought together by a Charity Commission Scheme dated 20th February 1981, these being the Charity called the Stroud Educational Charity (regulated by a scheme made by the Board of Education on 2 December 19091 and the Charity called the Rodborough Educational Foundation la5 constituted on 31st December 1912). Page 3
Stroud and Rodborough Educational Charity Report of the Trustees forthe Year Ended 31 March 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees Trustees There is currently a Trustee vacancy on the board. This is the representative to Gloucestershire County Council, who have given permission for the Trustees to nominate a person on their behalf. This has been done and the Trustees are waiting for consent from democratic services. The Nominative Trustees are appointed as follows: Three representatives by Gloucestershire County Council - chosen by Gloucestershire County Council Three representatives by Stroud District Council - chosen by Stroud District Council One by the Governing Body of Marling School- chosen by Board of Governors - One by the Governing Body of Stroud High School- chosen by Board of Governors - One by the Governing Body of Archway School- chosen by Board of Governors One by The Stroud Feoffees Charity- chosen by the Feoffees Charity Trustee5 One by Rodborough Parish Council - chosen by Rodborough Parish Council The Trustees shall hold at least two meetings per year. No Trustees received any remuneration or expenses during the year. Organisational structure and decision making The Trustees meet four times peryear. All decisions are made within the meetings and voted on should there not be unanimou5 agreement. The positions of Chairman and Vice Chaimian are proposed and voted on at the annual meeting every year. Induction and training of new trustees Trustees do not receive any formal training from the Charity. At the first meeting they are provided with a copy of the Charity's governing scheme documents and the aims of the Charity are explained by the Chairman. New Trustee5 sign an acceptance of office at the first meeting they attend. The Clerk is available to answer any questions. All Trustees have been provided with a copy of the Charities Commission 'E55ential Trustee" Guidance booklet and understand their duties and responsibilities as trustee5. The positions of Chairman and Vice Chairman are proposed and voted on at the annual meeting every year. Related parties One Nominative Trustee is a representative from the Feoffee5 Charity of which Trustees make donations to the Charity. Page 4
Stroud and Rodborough Educatlonal Charity Report of the Trustees for the Year Ended 31 March 2024 STRucfuRE. GOVERNANCE AND MANAGEMENT Risk management The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 309614 Principal address Shani Baker Clerk to the Trustees 14 Green Close Uley, Durslev Gloucestershire GLII 5TH Trustees Mrj H Parker Mrs E Bird Mr M Robinson Mrs C Mobbs MrG Stanley Mr P Gibson Mr N Prenter Ms L McGinty Mr M Ansell Mr S Robinson Independent Examiner Mr M Aldridge GCSD Xeinadin Limited 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT Solicitor5 wsp 3-7 Rowcroft Stroud Gloucestershire GL5 3BJ Page 5
Stroud and Rodborough Educational Charity Report of the Trustees forthe Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Investment Advisor5 CCLA Fund Managers Limited Senator House 85 Queen Victoria Street London EC4V 4ET Bankers HSBC Bank The Cros5 Gloucester GLI 2AP Coventry Building Society 43 Kings Street Stroud Gloucestershire GL5 3DS 13 Oev Approved by order of the board of Trustees on ..... 2024 and signed on its behalf by.. Mrj H Parker- Chairman Page 6
Independent Examiner's Report to the Trustees of Stroud and Rodborough Educatlonal Charity Independent Examiner's report to the Trustees of Stroud and Rodborough Educational Charity I report to the Charity Trustees on my examination of the accounts of Stroud and Rodborough Educational Charity (the Trust) for the year ended 31 March 2024. Responsibilltles and basls of report As the Charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respert of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Direttions given by the Charity Commission under section 145{5llbl 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 respert-. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or the accounts do not accord with those records: or 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 fairview 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 understsnding of the accounts to be reached. Mr M Aldridge GCSD Xeinadin Limited 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT Date: ... Page 7
Stroud and Rodborough Educational Charity statement of Financlal Activities for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Endowment fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 5,225 5,225 5,891 Charitable artivities Charitable 21,239 21,239 9.504 Investment income 96,276 1,458 97,734 94,747 Total 122,740 1,458 124,198 110,142 EXPENDITURE ON Charitable activities Charitable 120,665 840 121.505 85,887 Support and governance costs 14.174 14.174 12,133 Total 134,839 840 135,679 98,020 Net gains/llossesl on investments 91.243 3.637 94,880 1117,0821 NET INCOME I (EXPENDITURE) 78,556 4,843 83,399 1104,9601 RECONCILIATION OF FUNDS Total funds brought forward 1,630,612 47,625 1,678.237 1,783,197 TOTAL FUNDS CARRIED FORWARD 1,709,168 52,468 1,761,636 1,678.237 The note5 form part of these financial statements Page 8
Stroud and Rodborough Educational Charity Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Endowment fund funds Notes FIXED ASSETS Investments Investments Investment property 11 1.267,184 12 401,113 43,812 1.310.996 401,113 1,231,115 401,113 1,668,297 43.812 1,712,109 1,632.228 CURRENT ASSETS Cash at bank 43,939 8,757 52,696 49,178 43.939 8,757 52.696 49,178 CREDITORS Amounts falling due within one year 13 13,0681 iioi) 13,1691 (3.1691 NEf CURRENT ASSETS 40.871 8,656 49.527 46,009 TOTAL ASSETS LESS CURRENT LIABILITIES 1,709,168 52.468 1,761,636 1.678,237 ASSETS 1,709,168 52,468 1,761,636 1,678,237 The notes form part of these financial statements Page 9 continued...
Stroud and Rodborough Educational Chartty Balance Sheet- continued 31 March 2024 FUNDS Unrestricted funds: General fund Endowment funds 14 1,709,168 52,468 1,630,612 47,625 TOTAL FUNDS 1,761,636 1,678,237 £a. oc-y. The financial statements were approved by the Board of Trustees and authori5ed for issue on .................. 2024 and were signed on its behalf by: J Parker- Chairman E Bird- Vice Chair The notes form part of these financial statements Page 10
Stroud and Rodborough Educational Charity Notes to the Financlal Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings. they have been allocated to activities on a basis consistent with the use of resour5. Grants offered Subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Investment property Investment property 15 shown at its most recent valuation. Any aggregate surplus or deficit arising from change5 in fair value is recognised in the Statement of Financial Activities. Taxation The Charity is exempt from tax on its charitable artivities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restriction5 arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 11 continued.
Stroud and Rodborough Educational Charlty Notes to the Financial Statements- contlnued forthe Year Ended 31 March 2024 DONATIONS AND LEGACIES 2024 2023 Donations 5.225 5,891 INVESTMENT INCOME 2024 2023 Rents received Investment income Deposit account interest 55,825 41.421 488 50,185 44,373 189 97,734 94,747 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Insurance Stroud District Council - contributions 15.204 6.035 9.064 440 21,239 9,504 CHARITABLE AcfiviTIES COSTS Direct costs Grant funding Isee note activities Isee note 71 61 Totals Charitable 61,130 60,375 121,505 Page 12 continued...
Stroud and Rodborough Educational Charity Notes to the Financial Statements- contlnued for the Year Ended 31 Mar¢h 2024 DIREcf COSTS OF CHARITABLE AcnviTIE5 2024 2023 Buildings insurance Management commissions Property expenses and repairs School of Science and Art expenses Prizes 13.929 4,160 2,546 39,655 840 12,689 3.715 3,642 812 846 61,130 21.704 GRANTS PAYABLE 2024 2023 Charitable 60.375 64,183 The total grants paid to institutions during the year was as follows.. 2024 2023 Stroud High School Archway School Marling School Grants to other institutions 12,073 12,249 9,000 10.609 15.000 8,428 12,000 7,167 43,931 42,595 The total grants paid to individuals during the year was as follows- 2024 2023 Grants to individuals 16,444 21,588 Page 13 continued...
Stroud and Rodborough Educational Charity Notes to the Financial Statements - continued for the Year Ended 31 March 2024 SUPPORT COSTS Governance costs and Finance Management Totals Other resources expended 10,810 3,364 14,174 10.810 3,364 14,174 TRUSTEES, REMUNERATION AND BENEFITS There were noTrustees' remuneration orother benefitsfortheyear ended 31 March 2024 norforthe year ended 31 March 2023. Trustees, expenses There were no Trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 2023 Unrestricted Endowment fund funds Total funds INCOME AND ENDOWMENTS FROM Donation5 and legacies 5.891 5,891 Charltable activities Charitable 9,504 9,504 Investment income 93,435 1,312 94,747 Total 108,830 1,312 110,142 EXPENDITURE ON Charitable activities Charitable Other 95.392 1,782 846 96.238 1,782 Total 97.174 846 98,020 Net gains/llossesl on investments 1115,5021 11,5801 (117,0821 INCOME / IEXPENDITUREI 1103,8461 11,114) 1104.9601 Page 14 continued...
Stroud and Rodborough Educational Charity Notes to the Financial Statements - continued for the Year Ended 31 March 2024 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Endowment fund funds Total funds RECONCILIATION OF FUND5 Total funds brought forward 1,734,458 48,739 1.783,197 TOTAL FUNDS CARRIED FORWARD 1,630,612 47.625 1,678.237 11. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2023 Additions Disposals Revaluations 1,231,115 115,235) 95.116 At 31 March 2024 1,310.996 NET BOOK VALUE At 31 March 2024 1.310,996 At 31 March 2023 1,231,115 There were no investment assets outside the UK. Page 15 continued..
Stroud and Rodborough Educational Charity Notes to the Financial Statements - continued forthe Year Ended 31 March 2024 12. INVESTMENT PROPERTY FAIR VALUE At l April 2023 Addition I IDisposals) 401,113 At 31 March 2024 401,113 NEf BOOKVALUE At 31 March 2024 401,113 At 31 March 2023 401,113 The Stroud and Rodborough Educational Charity owns freehold property lin addition to the above mentioned} known as the Stroud School of Science and Art. The historical cost or fair value cannot be measured reliably and therefore is not recognised within the financial Statements. 13. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors 1.189 1,980 1,189 1,980 3.169 3.169 Page 16 continued...
Stroud and Rodborough Educational Charity Notes to the Financlal Statements- continued for the Year Ended 31 March 2024 14. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General f und 1,630,612 79,144 (5881 1,709.168 Endowment funds Endowmentfunds 47,625 4,255 588 52,468 47,625 4.255 52.468 TOTAL FUNDS 1.678,237 83,399 1.761,636 Net movement in fund5. included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrirted funds General fund 122,740 {134,8391 91,243 79,144 Endowment fund5 Endowmentfund5 1,458 18401 3,637 4,255 1,458 18401 3,637 4,255 TOTAL FUNDS 124,198 (135,6791 94,880 83,399 Page 17 continued...
Stroud and Rodljorough Educational Charity Notes to the Financial Statements- continued for the Year Ended 31 March 2024 14. MOVEMENT IN FUNDS- contlnued Comparatives for movement in funds- 2023 Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 1,734,458 1103,8461 1.630,612 Endowment funds Endowment funds 48,739 11,114) 47,625 TOTAL FUNDS 1,783.197 1104,9601 1,678,237 Comparative net movement in funds. included in the above are as follow5: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 108.830 197,1741 1115,5021 1103,8461 Endowment funds Endowment funds 1,312 1846) 11,5801 {1.1141 TOTAL FUNDS 110,142 198,0201 1117,0821 1104,9601 Page 18 continued.-.
Stroud and Rodborough Educational Charity Notes to the Flnanclal Statements- continued for the Year Ended 31 March 2023 14. MOVEMENTIN FUNDS- continued A current year 12 months and prior year 12 months combined position 15 as follows: Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 1,734,458 (24,7021 {5881 1,709,168 Endowment funds Endowment funds 48,739 3,141 588 52,468 48.739 3,141 52,468 TOTAL FUNDS 1,783.197 121,5611 1,761,636 A current year 12 months and prioryear 12 months combined net movement in funds, included in the bove, are as follows: Incoming resources Resources expended Gains and losse5 Movement in funds Unrestricted funds General fund 231,570 1232.0131 {24,2591 124.7021 Endowment funds Endowment funds 2.770 11.6861 2,057 3,141 2,770 11,6861 2,057 3,141 TOTAL FUNDS 234,340 1233,6991 122,2021 121,5611 Page 19 continued...
Stroud and Rodborough Educational Charity Notes to the Financial Statements - continued for the Year Ended 31 March 2024 15. RELATED PARTY DISCLOSURES One Nominative Trustee 15 a representative from the Feoffees Charity of which Trustees make donations to the Charity. Total donations received during the year were £4,925. 16. OTHER TANG18LE FIXED ASSETS AND LEASES In addition to the investment properties and the Stroud School of Science and Art buildin& the Charity owns land and buildings currently occupied by Marling school and Stroud High School. Under clause 20 of the Charity Commission Scheme and the Trust Deed, Trustees may continue to allow, as appropriate, the land and buildings for their use for educational purposes. Page 20
5troud and Rodborough Educational Charity Detalled Statement of Financial Activities for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Endowment funds funds INCOME AND ENDOWMENTS Donations and legacies Donations 5,225 5,225 5,891 Investment income Rents received Investment income Deposit account interest 55,825 40.252 198 55,825 41,421 488 50,185 44,373 189 1,169 290 96,275 1,459 97,734 94.747 Charitable activities Insurance Stroud District Council 15.204 6,035 15,204 6.035 9,064 440 21,239 21,239 9,504 Totsl incoming resources 122,739 1.459 124,198 110,142 EXPENDITURE Charitable actlvlties Buildings Insurance Management commission5 Property expenses and repairs Prizes School of Art expenses Grants to institutions Grants to individuals 13,929 4,160 2.546 13,929 4.160 2.546 840 39.655 43,931 16.444 12,689 3.715 3,642 846 812 42,595 21,588 39.655 43,931 16.444 120,665 840 121,505 85,887 Support cost5 Management Website costs Carried forward 468 468 468 468 240 240 This page does not form part of the statutory financial statements Page 21
Stroud and Rodborough Educational Charlty Detailed Statement of Financial Activities for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Endowment funds funds Management Brought forward Telephone Printing and stationery Postage Clerk's fee5 Travel & meetings costs 468 102 181 345 9,714 468 102 181 345 9,714 240 143 202 299 9,183 14 10,810 10.810 10,081 Finance Bank charges 103 103 102 Governance costs Legal and professional fees Accountancy and examiner's fee 1,221 2,040 1,221 2,040 1,950 3,261 3,261 1.950 Total resources expended 134.839 840 135,679 98.020 Net expenditure before gains and losses (12,0991 618 111,4811 12,122 Reallsed re¢ognlsed galns and losses Realised gainslllossesl on fixed asset investments 12361 (2361 129,1341 Net expenditure 112,3351 618 111.7171 117.0121 This page does not form part of the statutory financial statements Page 22