THE STONEBFIIDGE TRUST REPORT AND AUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 Charlty number 506970 Company number 01304962
THE STONEBREDGE TRUST l N D EX Y82r ended 31 March 1023 Gener21 information Report of the truscees Independent audltor's report Statemenr of finan¢i?l activltles alante Sheet 10 Notes to the financial statrments
THE STONEBRIDGE TFiUST GENERAL INFORMA TION Y¢ar ended 31 March 2023 Trustees WJ E Price C V C Brainerd K A Pierrepont Company number 01304962 Registered charlty number 506970 Company 3ecretsry G M errepon( Keglseered offke Ilerrepont Estares Managemen¢ Ltd Estate Office Thoresby Park Ncwark Nottynghamshtrre NG22 9EQ Auditors Dixon Wilson Audit Servlces LLP 22 Chancery Lane London WC2A I LS Investment maragers Cazenove Capi¢al l London Wall Place London EC2Y SAU Bankers Barclay$ Bank PLC 2 Humber Quays Wellington Stree¢ West Hull HUI 2BN Sollcitors Wedlake Bdl 71 Queen Victoria Street London EC4V 4AY
THE STONEBFUDGE TRUST REPOR T OF THE TRUSTEES Year ended 31 Mah 2023 The trustees, who are also directot% of the ch2rity for the purposes of the Companies Act 2006, present (heir trustees. report with the fiNa¥ttlal statements of the charity for the year ended 31 March 2023. Reference and adm5niKratlve Information The ch2rity registration number and the address of the priEhcipal office ol The Stonebridge Trust are as listed oft P2ge 2. The trustees who have served during the period w)d sSnce the p¢r60d end are as follows: WIEPri C VC .nerd K A Herrepont Strue¢ure, governance and manwmtnt The charity is controlléd by Its gtsverning documenL a deed of Twst dated 29 March 1977, and constltures a limited companyi limited by guarantee, 3s défined by the Companies Att 2006. New truswes may be 2ppoind by the existing set of trustees. No formal tyainlng in twsteeship is considered necessary for current or new appointp.e.s by reason of their experÉence znd professional qualthcations. New trustees are shown around the courtyard, briefed on their alms and objectives and given the opportunlty to immerse themsefves in the Trust to learn about the different areas. Staff are contrncted in from Nerrepont Estatrs Mana8emen¢ Ltd la related WdfLy as detalled Sn notè 16) which recharges (o The Sconebridge Trust as a management fee. The salaries (rf the Events Team artd the Caretaker are reviewed 2nnually in actordante wlth the remainder of the Pierrepont Group of Estates. Oblectlves and acttvities for tho publ1£ beneflt The objectives of the charity are to acquire, preserve and improve for the benefit of the PLEbllt, places of historical. archaeological or arthltectvral interest or of n?turnl or cultivated beauty in Nottinghamshire and the provision of ready accss5 to them by the public. The SlOn of the TNst is to ensure that Thoresby Courtyard. its open parkland and Grade 11 listed building are maintained and kept open for the public to enjoy on a more sustalnable basis. These objectives tontlnue to be met chrough the m2intenance and management of the property at Thoresby. The Stonebridge TrusL manages Thoresby Courcyard, 2 Grade 11 listed site, In order to ensure that it 15 accessible to che public. The charity Qperitss a theatre and irt gallery, which make the hlsrorical buildings, in which the thvdtre and the g211ery are based. accessible ro the public. The Couityard and its surrounding ground5 are open to the publÉc most days of the year. The trustees have acquired the Lady Minvers collectlon of paintings which wÉll be on display during numerous exhibltlons held across the year within the errepont Gallery tt Thoresby Couriyard. Income is also generated from renLal of PrOpere$, and the hire of che hall lor finCtIOnS including weddTng5. The Trusc relles on income generated from these scrategles to cover ic5 operating costs and Ènable investment to ensure the ongoing presetvation of Thoresby Courtyard & Park. The current and eontinulng alms of the Trusi are:_ Developing Thoresby Courtyard & Park as a destination of choice for loc81 day vlsltors and tourists- Introducing and developing a range of in house ind thlrd party events and actlvities at Thoresby. Developing Thoresby CoLIrty3rd & Park as a venue for hlre.
THE STONEBRIDGE TRUST Year ènded 31 March 2023 The trustees, havlng regard to the public benefit guidance published by the Charity Commlsslon In accordance with section 4 of the Charities Act 2006, consider that the purpose and activÉtie5 of the charity satisfy the requlrem¢nts of the public benefit test set out in section 3 of the ¥dme acL Flnantlal revlew At 31 March 2023 total unrestricted reserves held amounted to 14.830,416 {2022 - £4,959,472). The trustees see1< to maintain reserves at least equal to the tarrying value of the freehold property at Thoi-esby and in the longei- terrn hope to increase reserves to a level at which ¢hey can fund major maintenance and repair works as and when they are requlred. The trustees have a duty to id¢ntify 2nd review the risks to which the chariry is exposed and tv ensure appropriate conLrols are in place fo provlde reasonable assurance against fraud and error. The tnEstees have 2ssessed the m4or rlsks to whlch the charity is exposed, in rtiCUlar those related to the operations and finances of the charltyi and are satlsfied that systsms are in place to mitigate their exposure to the rnajor risl<s. For ex2mple. the Trust has recently developed both new and exising income streams includi8 the e5tabli5hment of a tradin8 subsidiary operating the Bay Tree Cafe. The trustees consider che tmsc's flnancial P051tion to be sat151actory. A deficit of £129,055 was recognised in the year Q022 - defidt £4,025). The trustees continue to Invest donations received and othÉr income generdted in suicable investments to provide income and capital growth for the trusL The day-to-day managemen¢ of the investments ts covered by Cazenove Capital. who the trustees consider are su5table for this work. Achlevements and performance Business rental income has been relarlvely robust throughout the year. The tumover of buslness unlts has been low 2nd Lhe range of facllicles made available to visitors has rem2ined consistent. Worlis Qll the properLy h&ve been behind budget thi5 year a5 we h&ve experlenced dlfflculty in appointing contractor5 sn a very tight m3rkeL The trustcos contynue to be sarisfied wÉth Lhe perfOrnydn of the investments made by the trust. The trustees wlll continue to mL)niwr thc performance of the investmenLS. Footfall has been risèn since the previous ye&r though 15 Still lower than In 2021. Rental income from events has continued co Improve.
THE STONEBRIDGE TRUST Year ended 31 March 2023 Trustees, responslblllty ststÈment The trustees (who are a150 the directors of The Stonebridge Trust for the purposes of company lawl are re5pon5ible for preparing the Report of the Trustees and the financi21 statements in accordance Wilh 2pplicable law and United Kingdom Accounting Standards (United Kingdom Gen¢rally Accepted Accounting Practice}. Company law requires the rrustees ¢0 prepare financial statements for each financial year which give a true and fair view of the state of affalrs of the Charitable company and of che Incoming resources and application of resources, including Ihe income and expendicure, of the charitable company for that period. In preparlng tliose ftnanelal statement5, che trustees are reqUred to.. select suitable 2ccounting policies 2nd then apply them consistently* observe the methods 2nd principles In the CharSty SORP {FRS 1021., malce ludgements and estimates that are reasonable and prudent., stste whether applicable UK accounting standard5 have been followed., prepare the financ(al statements on the golng concern basis unless It Is Inapproprlate to presume that the tharitoble company wsll Continue in business. The trustees are responsible for keeping proper ac<ountsng records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure tha¢ the financial scacements comply wlch che Companles ACE 2006. They are also responslble for safeguirding the assets of the ch&rltable company and hence for taking reasonable steps for the preventlon and detecclon of fraud and ocher Irregularltles. In 50 far as the crustees are aware at the (Ime of approving our crnstees, report.. there is no relevant ?udit informar&on of which the company's auditors are uniware- each trustec has tal<en all the steps nccessary to make themselves aware of any relevant iudit inform&tion 2Ekd to establish that tho company's auditors aro aware of that information. Plans lor luture years The Improvement of our IT offer has en2bled us to retain trnants and when vacancles have arisen has made relectSng faster and at higher rent5. The TnEstres have brought in outside consultsnts to improve the perf0mnCe of the activities of our sub5idi2ry trading company. Courtyard Trading Company LIMt, in order to reverse the losses from ca¢eiing and some events. progress has been made. Approved by order ol the board of trustee5 on 1S+ Fcb 2024 and 518ned on Its behalf by.. K A P¢errepon¢ Trustee
THE STONEBRIDGE TRUST INDEPENDENT AUDITOR'S REPOR T Year ended 31 March 2023 Oplnlon We have audited the financial siaLements of The Sconebridge Trusi Iche 'charitable company'} for thè year Ènded 31 March 2023 which comprise the statement of financi21 activities, balance sheet and notes ro the financial statements, including a summary of significani accounting polici¢s. Th¢ financial report¢ng fr2meworl< that has been applled in thelr preparation is appllcable law and United Kingdom Accounting St2nd2rds, including Financial Reporting Stsndard 102 The Financial Reporting Standard 2pplScable in the UK and Republic of Ire12nd (United Klngdom Generally Accepted Accounting Pr2Ctltel. In our opinton, the fin2ncial 51atements'. e a true and fair view of the state of the charltable Company's affalrs as at 31 March 2023 and of its incoming resources and applicatiotb ol resources for the year then ended; have been propÈrly prepared in a¢cordance th Unlted Kingdom Gener211y Accepted Accounting PracElCe: have been prepared in accordance with the requirements of the Charities Aet 2011. Basls for oplnlon We conducted our audSt In accordance wlth Internadonal Standards on Auditing {UK} (ISAS (UKII and applicable law. Our responsibilities under those st&ndards are further described in thè Auditows responsibiliiies for the audit of the financial statements Section of our report. We are independent of the charitable company in actovdance with the ethical requlrements that are relevant to our udit of the financial 5taternents in thÈ UK, intludin8 the FRC'S Ethical Standard. and we have fulfilled our other ethlcal responsibilities in accordance with these requiremenc5. We believe that che audit evidence we hive obtained is sufficienc and appropriate to provide A ba51$ for our oplnlon. Concluslons relatlng to golng concern In auditing che tinancial statements, we have eoncluded that the trustees. use of the going concern basis of accounting En the preparacion of the financial stacements is appropria[& Based on the work we h2ve performed, we have not ideEsEtfied any mari uncertaintles relatlng to events or conditions th3¢ individually or collectively, may cast signifFC2nt doubt on the charitable company'5 ability to continuo as a going concern for a perlod of at least twelve months from when the linantrdl statements are auchorlsed for Issue. Our respon51bi11ties and the responsibllltles of the tNstees wlth respect to golng concem are described in the rele¥aTrt sectlons of thls report. Other Inf0M)aOn The other Informatlon comprlses the Informacion included in the annual repor¢, other than the tTnanclal statements and our audlcorfs reporc thereon. The trustees are responsible for che other informtlon. Our opSnion on the rtnancial statements does not cover the other informatlon and we do not express any form of assurance conclusion thereon. In connettion with our audit of the financial 5taiement5, our respon5ibilÉty is to read the other information and, In doing so. consÉder whether the other information is materially incon5IStent with the flnancial s¢a¢enients or our knowledge obrdined in the audit or otherwise 3ppe&rs to be materially misstated. If we Identify such materlal inconsistencie5 or apparent matrrial misstatements, we are required to determine whether there is a materlal mlsstatement in the financsal statements or a materÈ21 misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to repori that facL We have nothing to report In rEils re8ard.
THE STONEBRIDGE TKUST Year ended 31 Mah 2023 Mattsrs on whlch we are required to report by exceptlon We have nothing tts repor¢ in respec¢ of the following MatrS in relation to which the Charities (Accounts and Reports) Kegulaclons 2008 requlres us to report to you if. in our opinion-. the Information given in the financial statements is inconsistent in any material respect with the trustees report., or Sufficient accounting records have not been kept. or the Iln2nclal statements are not in agreement with the accoun¢ing records,. or we have no¢ received 211 Lhe infomiallon and explanations we require for our audlt. Responslbllltles of trustees As explained more fully in the tru5tees' responslbllltles statement set out on page 5. the trustees (who are also dtrectors of the charitable company for che purp05e5 of company lawl 3re responslble for the preparition of the financi21 statement5 and for being sttisfied that they give a true and falr vlew, and for such internal control as the trustees dotem)ine is necessary to enable the preparacion of fin2ncial statements that are free from material misstatemenL whether due to fraud or error. In preparing the ilnanelal statements, the trnstees are responsible for 2ssessing the charitable companls 2bi14ry to continue as a golng concern, disclosing, as applicable, matters rolatod to going concern and using Ihe going concem basis of accounting unless the trustees either Intend co liquidace the charicable company or to cease operations, or have no realistic alternative but to do so. Audl¢orfs responslbllltles for the audit of th¢ financial $tat¢ments We have been appointed as audltor under settion 144 of the Charities Ac¢ 20113nd report in tctordante wlth the Act and relevant regulations made or havlng effect thereunder. Our objectives are obtaÉn reasonable assurance about whether the financ1 statements as a whole are free from material misstatemeni whether dtEe to frdud or error, and to ISSUÈ an audiEOf'S report that includes our opinion. Reasonable 2ssurance Is a hlgh level of assurance, but is not a guarRncee thRÈ an audlt conducted in accordance ISAS IUKI will always detect a mtter1 misstatement when Èe exist5. Mi5siacements can arise fvom fraud ar error and are considered material if, l¢7dividual or in aggregate, they could reasonably be expected to Influence the economlc declslons of users taken 0$) the basis of these financial statements. Irregularities, includlng fraud, are Instanees of non-compliance with laws and regUlaonS. We des(gn protrdures in line with our responsibilicies. outlined above, to detect material Misstatements in respect of irregulariries, including fraud. The extent to whTch our procedure5 are capable of detettlng Irregularities, including fraud is detailed below.. We gained an understading of the legal and regulatory Iramework applicable to the chantable compahy by consideriFtg amoEtgsi orher things, the sector in which It operates, Ind considered the risk of acts by the charltable company that were contrary to applicable law5 and regulations, lTr¢luding fraud. We desigrked audit procedure5 to respond to the asse$5ed level of ris1{ but recognised that the risk of not detecting a material mtsstatement due to fraud is higher than the risk of not detectiiig one resultin8 from error, a5 fraud may Involve deltberate concealment by, for example. forgery or Én¢entional rn1srepre5entaOns, or through collusion. We focused on laws and regulations which could gw¢ rise to a material mis5catement in the financial statements, includingi buL not limlred to. UK Company Law, UK cax legislafion, UK Charity Law as well as UK financial reporcing standards applicable for UK charitable companies. Our tests Included agreeÈng the IiEkancial statement disclosures to underlying supporting documentation, enqulrles with management and enquiries of consultints used for accounting outsourcing. As In all our audits, we 21so 2ddressed the rsk of management owerrlde of Internal controls. including testing ournals and evalutting whether there was evidence of blas by management chat represe¢)ted a risk of material mlsscatement due to fraud.
THE STONEBRIDGE TRUST Year ended 31 March 1023 There are inherent Ilmltations in the audit procedures described aboY¢ and, the further removed non-compliance with laws and regulacions is from the events and transaction5 reflected In the financial statements. the less likely we would become aware of it. We dÈd not identify any key audit maiters relating to irregularicie5, Including Iraud. A further destrlption of our responsibilities for the 2udit of the financial statements is located on the Financial Reporting Council's websité at.. www.frc.org.uklauditotsresponsibillties. This descrlption forms p2rt ol our auditorfs reporc. Use of our réport This report is made solely to the charitable companls tiytsstees, as a bodys In atcordanee with Part 4 of thÉ Charliies (Accounts and Reports) Regulatson$ 2008. Our audit work has been undertalien so that we m4ght state to the charitable comp3FIY'S Lfu5rees those matters we are requlred to state ¢0 them in an auditor's report and for no othei. purpose. To (he fulles¢ exceni permltEed by law, we do noi accept or assume responsibility to anyone other than the chwitable company and the charicable companls trustees as a bodyD for our audlt wort for thls I'eport, or for the opinions we have formed. Dlxon Wllson Audlt Services LLP. Statu¢ory Audicor 22 Chancery Lane London WC2A I LS 2 February 2024 Dixon Wilson Audit Serwtts LLP is eligible to act as an auditor in Lerms of section 1212 of che Companies Act 2006.
THE STONEBRIDGE TRUST ST A T E M EN T O F F I N A N C I AL AC T I VI T I ES I I N C L U D l N G INCOME AN D EXPEN DITURE ACCOUNTI Year ended 31 March 2023 Note Unresthcted reservo Unrestricted reserve5 2023 2022 Income and endowments from: Donation5 and legacies chitable ac¢ivi¢ies Investments 2,380 255,029 21,399 20,019 228.905 18,531 Totsl kncome 278,808 267,455 Expendlture on: Raising fuFtds Charitable activitie5 (17,997) (312,490) 177,377) {129,056} (19.769) {327,928) 76,217 Net (losses)1inS <xt inyesiment assets Net expendlture 12 14.025) Reconcliatlon of fijnds Net movement in funds (129,056) 4.959.472 [4.025) 4.963.497 Total funds brought forward Total funds carrled hrYRrd 4,830,416 4,959,472 All amounts are in respect of continuing oper&ttons. All gains and105ses reco8nlsed in the period are included above.
THE STONEBRIDGE TRU BALANCE SHEET At 31 March 2023 Note 2023 2022 Fvxed assets Programme reted investments- freehold land and bJJilding5 Tangible assets Investments 10 2.357,346 622,442 1,307,778 2,357,346 656,139 1,570,605 12 4.287,566 4,584,090 Current assets Debtot C3sh at bank and in hand 561,393 73,202 399.464 92,216 634,595 491,680 Credltors: amounts falllng due wlthln one year Net current #ss¢t$ 14 (91,7451 542.850 (1145,298) 375,382 Total assets less current liabilities 4,830,416 4,959.472 assets 4030,416 4.959.472 Represencing.. Unrestrlcted Fd$.. 15 4,830,416 4,959,4ll Total funds 4,830,416 4,959,4r2 For the period ended 31 March 2023 the chariLy was entided to exemption from audi¢ under 5ec¢i0n 477 of the Companies Aci 2006 rdatyng co small companies. The members have not required the company to ¢)btain an audit of Its aCCon(S for the perfod In quesuon In accordance wth settlon 476. The trnstees acknowledge their re5ponsibil¢ries for complying with the requirements of the Aci with respect to accoUnng records and the prep2rttion of accounts. The finanaal statements have been 2udited under the requirements 06 Section 144 of the Charities Att 2011. The accounts have been prepared In actordancÈ with the promsions applicable to companles subject to the small Ct)mp2nies re¥4me in parc 15 of the Companies Act 2006. The comp3rÈy number is 01304962. The financial statements on pages 9 to 18 were approved by the trustees an were signed on its behalf by'.- 2024 and K A Nerreponr Trusoe
THE STONEBRIDGE TRusr NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2023 Accounting polklos The principal accountlng polieles adopted, judgements and key sources of estlmation uncert21nty in the preparaiion of the financial statement5 are as follows.. (a) BasFs of accountlng and SessMe[lt of going concèrn The financial statements h2ve been prepared Èn accordance wth the Financial Reporting Strdndard applicable In the UK and Republic of Ireland (FRS 1011, the St2tement of Recommended PraCte. Accounting and Reporting by Charities preparing their actounrs in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Ch2rities SORP IFRS 1021) issued in October 2019 aiid the Cliarities Acr 2011. The financial ststements are prepared In Sterling which is the function currency of the Trusc are rounded to the nearest £. The Trust constitutes a publlc benefit entity 2s defit)ed by FRS 102. Assecs and liabilitits are initially recogni5ed at historical cost or crinsaction value unless othÈrwise stated in the relevant accounLlng pollcy noce. The tyustees consider th&t (here are no marIal uncertainties about the Trust's ability to concinue as a going concern. (bl Exenydon from preparing a cath ftow Statement Exemption has been taln from preparing a cash flow siatrmenc on the grounds chat the charitable company qualifies as t Small charitable company. (c} Income recognition All income Is recognised in the SLltement of financial activities when the Trust has enticlement co the Income, It Is probable that the income will be received and the 2mount of the income can be measured reliably. Donauotts and 8rants 2re recognised when the Tru51 has entldement to the income. there Is reasonable a55uran¢e of receipt and the amount of intome can be ured reliably. Gift Aid receivable is includ2d in incomé when there is 2 valÈd declaration from the donor. Any Gift Aid amount recovered on a donatlon is considered to be part of that glfi and is treaced a5 an addition to the same fund as the initial donation unles5 the donor or che terms of the appeal have specified othemise. Income from incer¢st royalties and divIdlS Is included In the accounts when receipt is probable and the amount recelvable can be measured reliably. Event and Ridln8 Hall Income is included in the accounts upon performance of the contfdct. Investment gains and losses Includes any realised or unrealised gains or losses on the sale ol investments 2nd any gzin or loss resultingfrom revalulng Investments to market vu¢ at the end of the year. Rents are recognised on an accruals basis. The rental Income is matched ¢0 the day5 of the period. (d) ExPendre and Ilabklltie$ Expendlture and IlabilityÈs are recogntsed once there 15 a legal or consEructive obligation ¢0 mike a payment to a third party, >t is probable that settlemenc wlll be requÈred and the amount of the Obl1ClOn can be measured rellably. All expenditure is atcounted for on an accnds basls. Costs of gener3ting funds ¥e those costs SncurrÈd In dIng 2crivities that raise fund5. Penslon scheme concributions are reco11Sed In the yeav whlch they are payable (o the scheme.
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2023 (e) Allocation of support Costs SupporL Costs are those functions that assist the wo14< of the charity but do not directly undertake charitable actiwties. Support Costs include govemance eosts {aecountancy, legal fees and auditors, rernuneracK)nl which have all been ajlocated to ch2rit2ble activities. {fj Pro8ramme related Investments Progrnmme related investments represent properttes held by the charity which are made readily aywlable to the public in order to lulfil the charity's kim. The itivèstments are held 2t cost wth an 3¢)nual Impainnenc review carried out by the trustees. Where assets are gifted to the truste25, inliial rocognltion is at marlcet value of the date of the gift. (g) Tangible fjxed assets DepreclaO is provided at the bllow¢ng annual rates In order to write off each a5se¢ over Its estimaod useful life on a str3ighi-line basis.. Robes 2nd chwrs Painun8S Museum improvÈments Intr1 features F4Xtures and fittings Motor vehtcles Compucer eqvipmeni not depreciated not depreclated - becween 4% and 20% on cost IO% on cosi 15% on cost 25% on cost 15% on cost Fed assets 2re capitali5ed at tos4 or madl value at the timÈ of tr2nsfer to the ch2riry in respect of donated asset& The asseES are analysed each year for sikms of imprment (h) Investments Tradcable investments are initElY recognlsed at thelr transaction value and sub5equentty measured at mart<et Ydlve at the ba12nce sheet date. The statement of financlal attlvitles Indudes ¢he net gains and losses arising on revaluations and disposaLs throughout the year. Investments In subsidiarles are included ac cost less proM5ion for Inwalrment. The Charity has taken advantage of the exemptlon under section 399 of the Companles Act 2006 no¢ to prepare consolidated atcounts, on the basls that the group, of whith this is the paren4 qualthes as a small group. O) Fln2nctal Instruments The charity only has flnanclal assets and financial liabilities that qualify as basic financial Instruments. Basic finanaal instruments are Initlally recognised at cran5aciion value and subsequendy measurod a¢ thelr setdement Ydlue. O) Taxation The charity ts exempt from corpontlon tex on its charitable activities. (k) Pension costs and other p95tsretirement beneflts All new employees were entered into The Pierreponc Estates Man88ement Limited Group knfe As5urahte Scheme, St) whlch the charity participatrd on 2 defined contribution b3sis. Contrlbytlons payable ¢0 this pension scheme are chargÈd to the statement of financial actyvity in the period to which they relate.
THE sfoNEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 Marth 2023 Logal $tstus of the charlty The charSty is a UK company limited by gu&rantee, Incorpot2ted in England and Wale& and h2s no share capital. The liability of eaeh member in the event of the charity being WOLsnd up is limited co £1. Its registered iddress is PierreponL Estates Management Ltd, Estate Office, Thoresby Park Newad<, NOttin2MShlre, NG22 9EQ. Donations and legacle¥ 2023 2022 Donations under gift aid Govemmeni grants 2,380 352 19,667 2,380 20,019 Income from tharltable actlvltles 2023 2022 Rent Riding Hall income Event income Caravan income Art exhibitions Gallery sales and commisslons Theatre income Other income 96,686 48,434 98,586 9,295 104,230 47, 104 63,860 1, 120 882 280 22 11,407 148 1,880 255,029 224905 Investment incom¢ 2023 2022 Incorne from rradeable Investments 21,399 18531 Charitable activ[e5 expenditure 2023 2022 Governènee costs (see note 7) Theatre expet)dlture Other gallery expendlture Rental costs 9,548 12.425 45 54.625 260.833 43,003 259,939 311490 327,928
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEHENTS Year ended 31 Marth 2023 Governance costs 2023 2022 Aceount2ncy Legal fees Audito, remunerntion 4,400 748 3,325 4,100 9,548 12.425 Net oxpendlture for the period 2023 2022 Net expenditure is after Charging.. Audstors, rÈmunerdtion Depreciation- owned assets 4,400 84,037 4,100 97,665 TOn The charlty is exerrp¢ from tax on income and gains falling within ParL I l of che Corporation T3x Act 2010 or section 2S2 of the Taxation ol Chargeable Gains Ac¢1992 to the extenc that these are applied to its charltable ohiective5.
THE sfoNEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year endd 31 March 2023 Pmgrimme related Investments- freehold land and buHdSn8S 2023 2022 Carrying Ydlue at l April 2022 Valu¢ at 31 March 2023 2,357,346 2,357,346 2,357,346 2.357.346 I l. Tangible tId assets Fre5 Museum and Improve- flttlngs merrts featyrÈs Motor vehlcles Computhr ewlpment ch31rs PIntIg& Total At l April 2022 Addl[lo5 Diwsa15 At 31 March 2023 5.000 96.475 15,894 51,6 27.551 130081 1010 677.328 32.638 1.&)9,006 20.9 S340 5,QOO 96,475 15094 79241 131691 677,328 53,617 1,060,246 DeptTcFatlon At l Ap7 2022 Ch3t%e for the perlod imin3ted on dsp0$21 AL 31 fvknrth 2023 15894 44.658 1104 80.919 9.128 98,270 69.427 14,026 353,767 3,378 84,037 15894 4&762 90,047 267,697 17,404 437804 N8È bookydlue A¢ 31 March 2023 5,000 96,475 31479 42.644 409.631 36,213 622,442 At l Aprll 2022 96,475 7,032 49.962 479,058 18,612 656,139
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TENENTS Year end¢d 31 Morth 2023 12. Investmènts 2023 2022 Tr2de2ble investments Investment in subsidiary Investments 1,307,777 J,570.604 1,307,778 J,570,605 Trndeable Investments Market Yalue a¢ l April 2022 Additlons Revaluation Disposals at market lue Matht Wdlue at 31 Mwch 2023 1,570,604 449.660 177.3771 (635,1101 1,307,777 1.664,315 SIZ888 76,217 (682,816) 1.57Q604 Investment In S51dl2ry Hlstorlt cost at l April 2022 Historit cost at 31 March 2023 The investment in subsidiary represents a l 00% holding in ClrtYard Trading Company Limited, i licenced restaurant premises, whose registered office is Estate Office, Thoresby Parl<, Newhrl Nottinghamshire, United Kingdom. NG22 9EQ. 13. Debtors: amounts rlIng due wlthln one year 2023 2022 Trade debtors Prepayments VAT Other debtors Loan to subsidiary 28.676 5.077 24309 7.659 344 153 362,999 525,999 561,393 399,464 14. Crditors.. amounts rlIng due wlthln ono year 2023 2022 Trade creditors Other creditors accruals Deferred income 66,395 17,730 7,620 30,195 68,996 17,107 91,745 116,298
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2023 15. Ana515 of movemen¢s In uThrostrttted funds 2022 Movèment 2023 Unrestrlrted fiinds General fund 4,959,472 {129,056) 4,830,416 Total funds 4,959,472 {129,OS61 4.830.416 Net movement in funds, included in the above are as follows.. Incomlng Rewurces Resource¥ expended Galns and losses Movement In fund$ Unrestrlcted fund5 General lund 278,808 1330,487) 177,3771 (129,0561 Total funds 278,808 1330,487) 177,377) (129,0561 16. Rélated party transacth)n$ Durlng the period, the tharity receivod man2gement sermces, bulldlng servi5 2nd other general services (rom related partles. All tran5acilons are undemken on on arm's leFS8th basis and both their amouTrts and nature 3re summaiised below.. errepont Settlement is a related party in the period &8 G M Pierrepont Is a beneficiary and W J E Prlcè Is 2 trustee. During the period, expenses of £900 (2022 - £2,400) were charyed to the charity and expenses of £n1112022- £2,400) were recharged by the charity to the trust. At 31 March 2023 the balance owed co Pierrewnt Settlement is £240 11021- £nill- ierrepont Estatr Management Llml¢ed is a rela¢¢d pry In the pwiod W l E lce is a director. Dutyng the perlod, expenses of £87,393{2022 - £161,627) were ch2rged to the tharity and cxpcnses of £5,0(x)12022 - £229.6751 were recharged by the charity to the company. A¢ 31 March 2023 the balanc¢ owed to PierreponL Estates Manag¢m¢nt Limited Is £27,48712022- 125,563). Thoresby Settlement is a related party in the period as G M Pierrepont Is i benefflclary and W J E Price is a trustee. During the pevio& expenses of £19,099 (2012 - £12,023) were charged to the tharlw and expenses of £1,498 12022 - £12.3291 were recharged by the charity co the trusL At 31 March 2023 the balance owed co Thore5by Settlement is £8,17712022 balance owed ¢0 Thoresby Settlemenc- £260). Courtyard Trading Comtxny Limlted Is a related party in the period 3$ The Stonebridge Trust owns IOO°A of the share5. Durlng the period, expenses of £nil 12022 £87,653) were tharged to the charity and expenses of £36,683 P022- £91,453) wÈre recharged by the charity co the company. An addiiional amoun¢ of 1163,LKIO Wds advanced to the comp2ny by the Trustees of the Stonebrid8e Trust. At 31 March 2023 the balance owed Irom Courtyard Trading Company Limited is £525,999 (2022 - £362,999). 17
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year énded 31 Mard) 2023 17. Flnanclal assets and liabllltl¢$ The charity h?s financial assets and financial liabilities of a kind th2t qualify as basic financial instruments. These are initially recognised 2t tr2n5action value and subsequendy measured at their amorti5ed cost. Rnancial assets 2023 2022 Cash 2t bank and in hand Trade debtors Other debtors LAn to subsldF2ry 73,202 28,676 3.196 525,999 92,216 24309 4,121 162,999 631,073 487.645 FInan£1 Ilabllltles Trade creditors Other crediLofs 2nd accruals 66,395 17,730 30.195 68.996 84,125 99,191 Obligations under leases The total of futuiE minimum lease income Is as follows.. 21n2 Nor later than one year Later than one year and not later than five rS 50.267 23.113 53, 182 45,957 73,380 99,139
THE STONEBRIDGE TRUST D ET A I L E D ST A T E M E N T O F F l N A N C I A L AC T I VIT I E S Year ended 31 March 2023 2023 2022 INCOME Donatlons and legacles Donations LEnder gift aid Grant income 2,380 352 19,667 2.380 20,019 Incomè from charltab]e actlvlties Rent Riding Hall income Event Income Caravan income Arc exhibitions Gallery sales and commisslons Theatre income Other income 96,686 48,434 98,586 9,295 104.230 47.104 63.860 1,120 882 280 22 11,407 148 1,880 255,029 224905 Invtstn*nt Incorne xed asset investmenc Intle 21,399 14531 Total income 278,808 267.455 EXPDITURE Ral¥lng funds Charltable activldes 17,997 19,769 Theatre expenditure Other gallery expenditure Profession fees Rental costs DeprÈci2tion of museum Impibvements DÈpreaation of motor vehlcles t)epredation of compucer equipment Depreciation of Inte81 leawres Depreciation of fixtures and ficong5 Profit on disp0521 of fixed assets Accountancy Legal fee5 Auditors, remuneration 45 54,625 61,099 98,096 76,497 1,707 1.435 3,173 14,851 3,975 43,003 77,741 98,160 69,427 2,104 3,378 9,118 4,4(KJ 3,325 4, 100 4,4 312.490 327,928 Net Qosses)Igain5 on investment assets (77,377) 76.217 Net Income <129.056) (4.025) Thls page does not fomi parE of the sotULOry Inanclal statements.