REGISTERED CHARITY NUMBER: 309614 Report of the Trustees and Unaudited Flnancial Statements for the Year Ended 31 March 2025 for Stroud and Rodborough Educational Charity Xeinadin South Wales & West Limited 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT
Stroud and Rodborough Educational Charity Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustee5 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 Artivities 21 to 22
Stroud and Rodborough Educatlonal Charity Report of the Trustees forthe Year Ended 31 March 2025 The Trustees present their report with the financial statements of the Charity for the year ended 31 March 2025. 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 IFRS1021 (effective l January 20191. OBJEcfivES AND ACTIVITIES Policles 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 leisvre time activities. The area of benefit Shall mean the area of the parishe5 comprising Stroud Rural District that is to say Bisley- with-Lypiatt, Chalford, Cranham, Horsley, King's stanley, Leonard Stanley, Minchinhampton, Miserden. Painswick, Pitchcombe, Randwick, Rodborough. Stonehouse, Thrupp, Whiteshill. and Woodchester and the area of Stroud and Nailsworth Urban Districts. Strategies for achieving objectives The Trustees wish to continue to support the benefit Schools and young people in the area of benefit. This will be accomplished by the investment policy and the management of the property owned and let by the Charity to produce incorne. The Trustees are happy that there are no significant issues that may affett 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 objectives 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 IPB2)'. The Trustees are not aware of any detriment caused by the Charity's objects or activitie5, and nor are they aware of anyone receiving any private benefit from the Charity'5 activities. Page I
Stroud and Rodborough Educational Charity Report of the Trustees for the Year Ended 31 March 2025 OBJEcfivES AND ACTIVITIES Grantmaklng The total grants made during the year to 31st March 2025 were £54,423 this included grants to.. Stroud High School Marling School Archway School £12,000 £11,865 £14,898 The remainder of the grants were distributed in accordance with the Charity's objettives. ACHIEVEMENT AND PERFORMANCE The Trustees have agreed to dispose of the properties at Downfield House and reinvest the proceeds of the sale. Only one property at Downfield House continues to be rented out to tenants. The other property is being prepared for marketin8. The School of Art continues to be rented out. The Trustees continue to maintain the property. The Trustees have changed the heating system at significant cost. Investment policy and performance The Charity's investment powers are now conferred by the Trustees Att 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 OtheiSe. The Trustees are following a total return policy. taking an income of 4%. The Trustees have considered the most appropriate policy for investing funds and following legal advice from Paula Smfth at Leonard Curtis Legal Ltd, the Trustees made the decision to rnove investments to a total return policy using a base line investment of £800,000. Continuing to use specialised unit trusts designed for the charity sector to meet their requirements to generate both income and growth. The Trustees monitor the investments closely. Rlsk5 and internal and external factors The Trustees acknowledge their responsibility to assess and mitigate the major risks to which the Charity is exposed. The Trustees have conducted a review of the major risk5 to which the Charity is exposed and, where appropriate, systems or procedures have been established to mitigate those risks relating to fraud and error. Internal control risks are minimi5ed 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 2025 FINANCIAL REVIEW Financial position The Charity continues to monitor the markets carefully. There are no going concerns as to the future of the Charity, other than fluctuations in the investments. Thi5 will possibly reduce the amount of income generated thus reduce the level of donations. The value of investments a5 at the year end was £1,214,30312024.. £1.310,996). This is down on the previous year. The Trustees are reviewing the investments. The total income received during the year amounted to £166,223 including donation5 from The Feoffees Charity. with expenditure totalling £194,444. This resulted in an operational loss of £28,221. Principal funding source5 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 2025 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. 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 adjust where necessary to achieve those aims. STRucfuRE, GOVERNANCE AND MANAGEMENT Constitution and Aims Stroud and Rodborough Educational Charity are two Charities brought together by a Charity Commissioners Scheme date 20, 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 las constituted on 31" December 19121. Page 3
Stroud and Rodborough Educational Charity Report of the Trustees forthe Year Ended 31 March 2025 STRucfuRE, GOVERNANCE AND MANAGEMENT Trustees There are currently no Trustee vacancies. The Nominative Trustees are appointed as follows.. Three representatives by Gloucestershire County Council- Chosen by Gloucestershire County Council Three by Stroud District Council- Chosen by Stroud District Council One by the Governing Body of Marling School- Chosen by Board of Governors One bythe Governing Body of Stroud High School- Chosen by Board of Governor5 One by the Governing Body of Archway School- Chosen by Board of Governors One byThe Stroud Feoffees Charity- Chosen by The Feoffees Charity Trustees One by Rodborough Parish Council- Chosen by Rodborough Parish Council The Trustees shall hold at least two meetings per year. No Trustees received any renumeration or expenses during the year. Related parties One Nominative Trustee is a representative from the Feoffees Charity of which Trustees make donations to the Charity. Page 4
Stroud and Rodborough Educational Charity Report of the Trustees for the Year Ended 31 March 2025 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 ANO ADMINISTRATIVE DEfAIL5 Registered Charity number 309614 Principal address Shani Baker Clerk to the Trustees 14 Green Close Uley, Dursley Gloucestershire GLII 5TH Trustees MrJ H Parker Mrs E Bird Mr M Robinson Mrs C Mobbs Mr G Stanley Mr P Gibson Mr N Prenter Ms L McGinty Mr M Ansell Mr S Robinson Mr J Bloxsom Ih resigned 29 January 2025 appointed 29, January 2025 Independent Examiner Mr M Aldridge Xeinadin South Wales & West Limited 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT Solicitors wsp 3-7 Rowcroft Stroud Gloucestershire GL5 3BJ Page 5
Stroud and Rodborough Educational Charity Report of the Trustee5 forthe Year Ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Investment Advisors CCLA Fund Managers Limited Senator House 85 Queen Victoria Street London EC4V 4ET Bankers HSBC Bank The Cross Gloucester GLI 2AP Coventry Building Society 43 Kings Street Stroud Gloucestershire GLS 3DS 2025 and signed on its behalf by: Mr J H Parker- Chairman Page 6
Independent EKaminer's Report to the Trustees of Stroud and Rodborough Educational 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 Ithe Trust) for the year ended 31 March 2025. Responsibilitles and basis 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 Att 20111'the Act'l. I report in respect 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 Directions given by the Charity Commission under section 14515llbl of the Art. 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: accounting records were not kept in respett 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 Charitie5 (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. Mr M Aldridge Xeinadin South Wales & West Limited 701 Stonehouse Park Sperry Way Stonehou5e Gloucestershire GL103UT Date: ... Page 7
Stroud and Rodborough Educational Charity ststement of Financlal Activitie5 for the Year Ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricted Endowment fund fund5 Notes INCOME AND ENDOWMENTS FROM Donations and legacies 9,634 9,634 5,225 Charitable artivities Charitable 64,240 64.240 21,239 Investment income 90,847 1,502 92,349 97,734 Total 164.721 1,502 166,223 124,198 EXPENDITURE ON Charitable activities Charitable 181,343 246 181,589 121,505 Support and governance costs 12,855 12,855 14,174 Total 194,198 246 194,444 135,679 Net gains1llossesl on investments 144,9801 11,7131 146,6931 94,880 NET INCOME / (EXPENDITURE) (74,4571 {4571 {74,9141 83,399 RECONCILIATION OF FUNDS Total funds brought forward 1,709,168 52,468 1.761,636 1,678,237 TOTAL FUNDS CARRIED FORWARD 1,634,711 52,011 1.686,722 1,761,636 The note5 form part of these financial statement5 Page 8
Stroud and Rodborough Educational Charitv Balance Sheet 31 March 2025 2025 Total funds 2024 Total fund5 Unrestricted Endowment fund funds Notes FIXED ASSETS Investments Investments Investment property li 12 1,172,532 401,113 41,771 1.214,303 401,113 1,310,996 401.113 1,573,645 41,771 1,615,416 1,712,109 CURRENT ASSETS Cash at bank 64,134 10,341 74,475 52,696 64,134 10,341 74,475 52,696 CREDITORS Amounts falling due within one year 13 13,0681 iioii 13,1691 13,1691 NET CURRENT ASSETS 61,066 10.240 71,306 49,527 TOTAL ASSETS LESS CURRENT LIABILITIES 1,634.711 52,011 1,686,722 1,761,636 NET ASSETS 1,634,711 52,011 1,686,722 1,761.636 The notes form part of these financial statements Page 9 continued...
Stroud and Rodborough Educational Charity Balance Sheet- continued 31 March 2025 FUNDS Unrestricted funds: General fund Endowment fvnds 14 1,634,711 52,011 1,709,168 52,468 TOTAL FUNDS 1,686,722 1,761,636 The financial statements were approved by the Board of Trustees and authorised for issue on ifj.. .l.io. . 2025 and were signed on its behalf by.. J Parker- Chairman E Bird- Vice Chair The notes fom part of these financial statements Page 10
Stroud and Rodborough Educational Charity Notes to the Financial Statements forthe Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the financlal statement5 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 Reportin8 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. Empenditure Liabilities are recognised as expenditure as 500n 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 15 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 conslstent with the use of resources. 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 propertv Investment property is shown at its most recent valuation. Any aggregate surplu5 or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. Taxation The Charity is exempt from tax on its charitable activities. Fund accounting Unrestricted fund5 can be used in accordance with the charitable objectives at the discretion of the Trustees. Restritted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions 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 Charity Notes to the Flnancial Statements - contlnued forthe Year Ended 31 March 2025 DONATIONS AND LEGACIES 2025 2024 Donations 9,634 5,225 INVESTMENT INCOME 2025 2024 Rents received Investment income Deposit account interest 50,394 41,159 796 55,825 41,421 488 92,349 97,734 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Insurance Repairs - contributions 13,149 51,091 15,204 6.035 64.240 21,239 CHARITABLE AcfiviTIES COSTS Direct costs Grant funding (see note activities (see note 71 61 Totals Charitable 127,165 54,424 181.589 Page 12 continued...
Stroud and Rodborough Educatlonal Charity Notes to the Financlal Statements - continued forthe Year Ended 31 March 2025 DIREcf COSTS OF CHARITABLE ACTIVITIES 2025 2024 Buildings insurance Management commissions Property expenses and repairs School of Science and Art expenses Prizes 15.405 4,509 9,276 97,729 246 13,929 4,160 2,546 39,655 840 127,165 61,130 GRANTS PAYABLE 2025 2024 Charitable 54,424 60,375 The total grants paid to institutions during the year was as follows.. 2025 2024 Stroud High School Archway School Marling School Grants to other institutions 12,000 14,898 11.865 5,542 12,073 12,249 9,000 10,609 44.305 43.931 The total grants paid to individuals during the year was as follows.. 2025 2024 Grants to individua15 10,119 16,444 Page 13 continued...
Stroud and Rodborough Educational Charity Notes to the Financial Statements- continued for the Year Ended 31 March 2025 SUPPORT COSTS Governance costs and Finance Management Totals Other resource5 expended 10,972 1,883 12,855 10,972 1.883 12,855 TRUSTEES, REMUNERATION AND BENEFITS There were no Trustees. remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no Trustees, expense5 paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES - 2024 Unrestricted Endowment fund fund5 Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 5,225 5,225 Charitable a¢tivities Charitable 21,239 21,239 Investment income 96,276 1.458 97.734 Total 122,740 1,458 124,198 EXPENDITURE ON Charitable activitle5 Charitable Other 120,665 14,174 840 121,505 14,174 Total 134.839 840 135.679 Net gains/{losse51 on investments 91,243 3,637 94,880 NET INCOME / (EXPENDITURE) 78,556 4,843 83,399 Page 14 continued...
Stroud and Rodborough Educational Charlty Notes to the Flnancial Statements - continued for the Year Ended 31 March 2024 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Endowment fund funds Total funds RECONCILIATION OF FUNDS Total funds brought forward 1,630,612 47.625 1.678,237 TOTAL FUNDS CARRIED FORWARD 1,709,168 52,468 1,761,636 11. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2024 Additions Disposals Revaluations 1,310,996 151,3021 145,3911 At 31 March 2025 1.214,303 NET BOOK VALUE At 31 March 2025 1.214,303 At 31 March 2024 1,310,996 There were no investment assets outside the UK. Page 15 continued...
Stroud and Rodborough Educational Charity Notes to the Financial Statements - continued for the Year Ended 31 March 2025 12. INVESTMENT PROPERTY FAIR VALUE At l April 2024 Addition / (Disposals} 401,113 At 31 March 2025 401,113 NET BOOKVALUE At 31 March 2025 401,113 At 31 March 2024 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 FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Other creditor5 1,189 1,980 1,189 1,980 3.169 3.169 Page 16 continued...
Stroud and Rodborough Educational Charity Notes to the Flnancial Statements- continued for the Year Ended 31 March 2025 14. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund 1.709,168 174,1281 13291 1,634,711 Endowment funds Endowment funds 52,468 17861 329 52,011 52,468 17861 52,011 TOTAL FUNDS 1,761,636 174,9141 1,686,722 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 164,722 1194,198) 144,652) 174.1281 Endowment funds Endowment funds 1,502 12461 12,042) 17861 1,502 1246} 12,0421 17861 TOTAL FUNDS 166,223 1194.4441 146,6941 174,9141 Page 17 continued.
Stroud and Rodborough Educational Charltv Notes to the Financial Statements - continued forthe Year Ended 31 March 2025 14. MOVEMENT IN FUNDS- continued Comparatives for movement in funds - 2024 Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 1,630.612 79,144 1588) 1,709,168 Endowment funds Endowment funds 47.625 4,255 588 52,468 TOTAL FUNDS 1,678.237 83,399 1,761,636 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrirted funds General fund 122,740 1134,8391 91,243 79,144 Endowment funds Endowment funds 1,458 18401 3,637 4,255 TOTAL FUNDS 124,198 1135,6791 94,880 83,399 Page 18 continued...
Stroud and Rodborough Educational Charity Notes to the Financial Statements - continued forthe Year Ended 31 March 2025 14. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 1,630,612 5.016 1917) 1,634,711 Endowrnent funds Endowment funds 47.625 3.469 917 52.011 47,625 3,469 52.011 TOTAL FUNDS 1,678,237 8.485 1,686,722 A current year 12 months and prior year 12 months combined net movement in funds, included in the above, are as follows: Incoming resources Resources expended Gains and Movement 1055es in funds Unrestricted funds General fund 287,461 1329,037} 45,675 4,099 Endowment funds Endowment fund5 2,960 {1,0851 2.511 4,386 2,960 {1.0851 2,511 4,386 TOTAL FUNDS 290,421 1330,122) 48,186 8,485 Pa8e 19 continued...
Stroud and Rodborough Educational Charitv Notes to the Financial Statements - continued forthe Year Ended 31 March 2025 15. RELATED PARTY DISCLOSURES One Nominative Trustee is a representative from the Feoffees Charity of which Trustees make donations to the Charity. Total donations received during the year were £9,634. 16. OTHER TANGIBLE FIXED ASSETS AND LEASES In addition to the investment properties and the Stroud School of Science and Art building, the Charity owns land and buildings currently occupied by Marling School and Stroud High School. Under clzuse 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
Stroud and Rodborough Educational Charity Detalled Statement of Financial Activities forthe Year Ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricted Endowment funds funds INCOME AND ENDOWMENTS Donations and legacies Donations 9,634 9,634 5,225 Investment income Rents received Investment income Deposit account interest 50,394 39,967 486 50,394 41,159 796 55,825 41,421 488 1,192 310 90,847 1,502 92,349 97,734 Charitable activities Insurance Stroud District Council 13.149 51.091 13.149 51,091 15,204 6,035 64,240 64.240 21,239 Total incoming resources 164,721 1,502 166,223 124,198 EXPENDITURE Charitable activities Buildings Insurance Management commissions Property expenses and repairs Prizes School of Art expenses Grants to institutions Grants to individuals 15,405 4,509 9,276 15,405 4,509 9,276 246 97,729 44,305 10,119 12,689 3,715 3,642 846 812 42,595 21.588 246 97,729 44,305 10,119 181,343 246 181,589 85.887 Support costs Management Website costs Carried forward 186 186 186 186 468 468 This page does not form part of the statutory financial statements Page 21
Stroud and Rodborough Educational Charity Detalled Statement of Financial Activities for the Year Ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricted Endowment funds funds Management Brought forward Telephone Printing and stationery Postage Clerk's fee5 186 136 207 102 10.341 186 136 207 102 10,341 468 102 181 345 9,714 10,972 10,972 10,810 Finance Bank charges 89 89 103 Governance costs Legal and professional fees Atcountancy and examiner's fee 1,221 2,040 1.794 1,794 1,794 1,794 3,261 Total resource5 expended 194,198 246 194,444 135,679 Net expenditure before gains and losses 129.4771 1.256 128.2211 111,4811 Realised recognised gain5 and105ses Realised gain51llosse5) on fixed asset investments 11,3021 11.3021 12361 Net expenditure 130,7791 1.256 129.5231 111.717) This page does not form part of the statutory financial statements Page 22