THE STONEBRIDGE TRUST REPORT AND AUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Charity number 506970 Company number 01304962
THE STONEBRIDGE TRUST l N D EX Year ended 31 March 2024 Page General information Report of the trustees Independent auditols report Statement of financial acts'vities Balance sheet 10 Notes to the financial statements
THE STONEBRIDGE TRUST GENERAL INFORMA TION Year ended 31 March 2024 Trustees WJEPrice C V C Brainerd K A pieepont Company number 01304962 Reglstered charity number 506970 Company secretary G M Pierrepont Registered office Pieepont Estates Management Ltd Estate Office Thoresby Park Newark Nottinghamshire NG22 9EQ Auditors Dixon Wilson Audit Services LLP 22 Chancery Lane London WC2A 1 LS Investment managers Cazenove Capital 1 London Wall Place London EC2Y SAU Bankers Barclays Bank PLC 2 Humber Quays Wellington Street West Hull HU12BN Solicitors Forsters LLP 22 Baker Street London W1U3BW
THE STONEBRIDGE TRUST REPOR T OF THE TRUSTEES Year ended 31 March 2024 The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their trustees. report with the financial statements of the charity for the year ended 31 March 2024. Reference and administrative inforniation The charity registration number and the address of the principal office of The Stonebridge Trust are as listed on page 2. The trustees who have Seed during the period and since the period end are as follows- WJEPrice C V C Br2inerd K A Pierreponl Structure, governance and management The charity is controlled by its goveming document, a deed of Trust dated 29 March 1977, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. New trustees may be appointed by the existing set of trustees. No formal training in trusteeship is considered necessary for current or new appointees by reason of their experience and professional qualifications. New trustees are shown around the courtyard: briefed on their aims and objectives and given the opportunity to immerse themselves in the Trust to learn about the different areas. Staff are contracted in from Pierrepont Estates Management Ltd {a related party as detailed in note 161 which recharges to The Stonebridge Trust as a management fee. The salaries of the Events Team and the Caretaker are reviewed annually in accordance with the remainder of Ihe Pierrepont Group of Estates. Objectives and activities for the public benefit The objectives of the charity are to acquire. preserve and improve for the benefit of the public. places of historical, archaeological or architectural interest or of natural or cultivated beauty in Nottinghamshire and the provision of ready access lo them by the public. The vision of the Trusl 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 sustainable basis. These objectives continue to be met through the maintenance and management of the property at Thoresby. The Slonebridge Trust manages Thoresby Courtyard, a Grade 11 listed site, in order to ensure that it is accessible to the public. The charily operates a theatre and art gallery, which make the historical buildings, in which the theatre and the gallery are based, accessible to the public. The Courtyard and Its surrounding grounds are open to the public most days of the year. The trustees have acquired the Lady Manver5 collection of paintings which will be on display during numerous exhibitions held across the year within the Pierrepont Gallery at Thoresby Courtyard. Income is also generated from rental of properties. and Ihe hire of the hall for functions including weddings. The Trust relies on income generated from these strategies to cover ils operating costs and enable investment to ensure the ongoing preservation of Thoresby Courtyard & Park. The current and continuing aims of the Trust are=_ Developing Thoresby Courtyard & Park as a destination of choice for local day visitors and tourists., Inlroducing and developing a range of in house and third party events and aclivities at Thoresby., Developing Thoresby Courtyard & Park as a venue for hire.
THE STONEBRIDGE TRUST REPOR T OF THE TRUSTEES (continued) Year ended 31 March 2024 The trustee5, having regard to the public benefit guidance published by the Charity Cornmission in accordance wilh section 4 of the Charities Act 2006. consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 3 of the same act. Financial review At 31 March 2024 total unrestricted reserves held amounted to £4,817,92512023 - £4,830,416). The trustees seek to maintain reserves at least equal lo the carrying value of the freehold property at Thoresby and in the longer terTn hope lo increase reserves to a level at which they can fLJnd major maintenance and repair works as and when they are required. The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriale controls are in pla to provide reasonable assurance against fraud and error. The trustees have assessed the major risks to which the charity is exposed. in particular those related to the operations and finances of the charity, and are salisfied that systems are in place to mitigate their exposure to the major risks. For example, the Trusl has recently developed both new and existing income streams including the establishment of a trading subsidiary operating the Bay Tree Café. The trustees consider the Irust's financial position to be satisfactory. A deficit of £12,491 was recognised in the year (2023 - deficit £129,056). The trustees continue to invest donations received and other income generated in suitable investments lo provide income and capital growth for Ihe trust. The day-lo-day management of the investments is covered by Cazenove Capital, who the trustees consider are suitable for this work. Achievement5 and performance Business rental income has remained relatively robust throughout the year, wilh particular growth seen in the number of events held. The range of facilitie5 made available to visitors has remained Gonsistent with new opportunities made available for an artisucraft studio. Several projects commenced during the latter stages of the year. including the resloration of the walled garden which has helped revive the historical site and the addition of a separate W.C facility for our tenant, Tucks Brewery to allow them to remain open outside the Courtyard trading hours. The trustees continue to be satisfied with the performance of the investments made by the trtjst. The trustees will continue to monitor the performance of the investments. Whilst foottall has seen growth since the previous year, levels are still lower than in 2021.
THE STONEBRIDGE TRUST REPO R T OF THE TRU STEES (continued) Year ended 31 March 2024 Trustees, responsibility statement The trustees (who are also the directors of The Stonebridge Trust for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of Ihe charitable company and of Ihe incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial slatemenls, the Iruslees are required to". select suitable accounts'ng policies and then apply them consistendy- observe the methods and principles in the Charity SORP {FRS 102)- make judgements and estimates that are reasonable and prudent- state whether applicable UK accounting standards have been followed-, prepare the financial statements on Ihe going concern basis unless il is inappropriate to presume that the charitable company will continue in busine55. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitsble company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They ale also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the truslees are aware at the time of approving our trustees, report". there is no relevant audit information of which the company 5 auditar5 are unaware., each trustee has taken all the steps r)ecessary to make themselve5 aware of any relevant audit information and to establish that the company's audilors are aware of that information. Plans for future years The current vacant commercial spaces are being renovaled and will be offered at an attractive retail rent for the area to attract new tenants and when vacancies have arisen will make reletling faster and at higher rents. There are plans to renovale the trusts namesake, the Stonebridge, which requires slructural renovations lo remain open to the public. These costs will be shared with The Trustees of Ihe Thoresby Settlement. The Trustees have bought play area facilities lo add a child friendly section to the café to improve the performance of the activities of our subsidiary trading company, Courtyard Trading Company Limited, in order to reverse the losses from calering and some events. progress has been made. Approved by order of the board of trustees on 4 February 2025 and signed on its behalf by.. K A Pierrepont Trustee
THE STONEBRIDGE TRUST INDEPENDENT AUDITOR'S REPOR T Year ended 31 March 2024 Opinion We have audited the financial statements of The Stonebridge Trust (the 'charilable Company'l for the year ended 31 March 2024 which comprise the statement of financial activities, balance sheet and notes to the financial statements, including a summary of significanl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally AcLepted Accounting Practice). In our opinion, the financial statement5'. give a true and fair view of the slate of the charitable company's affairs as at 31 March 2024 and of its incoffling resources and applicalion of resources for the year then ended- have been properly Prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requiretnents of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audil of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihat the audit evidence we have obtained is sufficient and appropriale to provide 8 basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concem for a peri(MJ of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respecl to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report. other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information. Our opinion on the financial statemenl5 does not cover the other infomiation and we do not express any form of a55uranGe GOnGlusion thereon_ In connection with our audit of the financial statetnents, our responsibility 15 to read the other information and. In doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material Tnisslatements, we are required to determine whelher there is a material misstatement in the financial statements or a material 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 report that fact. We have nothing to report in this regard.
THE STONEBRIDGE TRUST I N DEPEN DENT AUDITOR'S REPOR T (continued) Year ended 31 March 2024 Matters on which we are required to report by exception We have nothing to report in respect of Ihe following malters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the inforrmation given in the financial statements is inconsistent in any material respect with the trustees report-. or Sufficient accounling records have not been kept- or the financial statements are not in agreemenl with the accounting records- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 5. the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being salisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable company s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operalion5. or have no realistic altemative but to do so. Auditor's re5pon5ibilitie5 for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report In accordance with the Act and relevanl regulations made or having effect ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free frorn material misstatement, whether due lo fraud or error, and to issue an audilor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISA5 (UK) will always detect a material misstatement when il exists. Misslalements can arise from fraud or errol and are considered material rf. individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material ffli5slalements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below-. We gained an understanding of the legal and regulatory framework applicable to the charitable cornpany by considering, amongst olher things, the sector in which it operates, and considered the risk of acts by the charitable company that were contrary to applicable laws and regulations, Including fraud. We designed audit procedures to respond to the assessed level of risk, but recognised that the risk of not detecting a material misstalement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealmenl by. for example, forgery or intentional misrepresentations, or through collusion. We focused on laws and regulations which could give rise to a material misslatement in the financial statements, including, but not limited to, UK Company Law, UK tax legislation, UK Charity Law as well as UK financial reporting standards applicable for UK charitable companies. Our tests included agreeing Ihe financial statement disclosures to underlying supporting documentation Hnd p.nfjiiirip.s wilh manaop.mp.nt
THE STONEBRIDGE TRUST INDEPEN DENT AU DITOR'S REPOR T (continued I Year ended 31 March 2024 As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was ewdence of bias by management thal represented a risk of material misstatement due to fraud. There are inherent limitations in the audit procedures described above and. the further removed non- compliance wilh laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at- www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's tTUStees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitsble company's trustees as a body, for our audit work. for this report. orfor the opinions we have fomied. Dixon Wilson Audit Services LLP. Statutory Auditor 22 Chancery Lane London WC2A 1 LS 6 February 2025 Dixon Wilson Audil Services LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
THE STONEBRIDGE TRUST ST A TEMENT OF FINANCIAL ACTIVITIES 11 NCLUDING INCOME AND EXPEN DITURE ACCO U NT) Year ended 31 March 2024 Note Unrestricted Unrestricted reserves reserves 2024 2023 Income and endowments from: Donations and legacies Charitable activities Investments 2,380 255,029 21,399 293,811 28.779 Total income 322,590 278,808 Expenditure on: Raising funds Charitable activities (14.3061 {420,2871 99,512 (17, 997J (312,490) (77,37T) (129,056) Net gainslllosses) on investment assets Net expenditure 12 (12,491) Reconciliation of funds Net movement in funds (12,4911 4.830,416 (129,056) 4,959,472 Total funds brought forward Total funds carried forward 4,817,925 4,830,416 All amounts are in respect of continuing operations. All gains and losses recognised in the period are included above.
THE STONEBRIDGE TRUST BALANCE SHEET At 31 March 2024 Note 2024 2023 Fixed assets Programme related investments- freehold land and buildings Tangible assets Investments 10 2.357,346 547.170 1,287,486 2,357,346 622,442 1,307, 778 12 4.192,002 4,287,566 Current assets Debtors Cash at bank and in hand 13 637,737 109.424 561.393 73.202 747,161 634,595 Credilors: amounts falling due within one year Net current assets 14 1121,2381 625,923 (91,745) 542,850 Total assets less current liabilities 4,817,925 4,830,416 Net assets 4,817,925 4,830,476 Representing.. Unrestricted Funds: 15 4,817,925 4,830.416 Total funds 4,817,925 4,830,416 For Ihe period ended 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relats'ng to small companies. The members have not required the company io obtain an audit of its accounts for the period in question in accordance with section 476. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparab.on of accounts. The financial statements have been audited under the requirements of seclion 144 ofthe Charities Act 2011. The accounls have been prepared in accordance with the provisions applicable to companies subjp.ct to the small companies regime in part 15 ofthe Companies Act 2006. The company number is 01304962. The financial statements on pages 9 to 18 were approved by the Irustees on and were signed on its behalf by.'_ 4 February 2025 K A Pierrepont Trustee 10
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 Accounting policies The principal accounting policies adopted, judgements and key sources of eslimalion uncertainty in the preparation of the financial slatements are as follows- (al Basis of accounting and assessment of going concern The financial statements have been prepared in accordance with the Firrancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. the SlaleTnenl of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and RepLJblic of Ireland (Charities SORP {FRS 102)) issued in October 2019 and the Charities Act 2011. The financial slalemenls are prepared in Sterling which is the functional currency of the Trust and are rounded to the nearest £. The Trust constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheiSe staled in the relevant accounting policy note. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. (b) Exemption from preparing a cash flow statement Exemption has been taken from preparing a cash flow stateTTrenl on the grounds that the charitable company qualifies as a small charitable company. Ic) Income recognition All income is recognised in the statement of fir)ancial activities when the Trust has entitlement to the income, il is probable that the income will be received and the amounl of the income can be measured reliably. Donations and grants are recognised when the Trust has entitlement lo the income, there is reasonable assurance of receipt and the amount of income can be measured reliably. Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Income from interest royalties and dividends is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Event and Riding Hall income is inclLJded in the accounts upon perforrnar7ce of the contract. Investment gains and 105ses include5 any realised or unrealised gains or losses on the Sale of investments and any gaiii or loss resulting Ironi revaluing invesliiieriLb- Io nidrkel Vdlue al Ilie eiid uf Ilie year. Rents are recognised on an accruals basis. The rental income is fflatched to the days of the period. {d) Expenditure and liabilities Expenditure and liabilities are recognised once there is a legal or constructive obligation to make a payment to a third party, il is probable that settlement will be required and the amount of Ihe obligation can be measured reliably. l expenditure is accounted for on an accruals basis. Costs of generating funds are those costs incurred in trading activities that raise funds. Pension scheme Gonlributions are recognised in the year in which they are payable to the scheme.
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 le) Allocation of support Costs Support costs are those funcb'ons that assisl the work of the charity but do not direcuy undertake charitable activities. Support costs include govemance costs (accountancy, legal fees and auditors, remuneration) which have all been allocated lo charitable activities. (fj Programme related investments Programme related inveslmenis represent properlies held by the charity which are made readily available to the public in order to fulfil the charity'5 aim. The investment5 are held at cost with an annual impairment review carried out by the trustee5. Where assets are gifted to the trustees, initial recognition is at market value of the date of the gift. Ig} Tangible fixed assets Depreciation is provided at the following annual rates in lder to write off each asset over its estimated useful life on a straight-line basis-. Robes and chairs Paintings Museum improvements Integral features Fixtures and fittings Motor vehicles Computer equipment not depreciated not depreciated between 4010 and 200kn on c05t 10/D on cost 15YD on cost -25% oncost 15¥0 on cost Fixed assets are capitalised at cost, or market value at the time of transfer to Ihe charity in respect of donated assets. The assets are analysed each year for Signs of impairment. (h) Investments Tradeable investments are initially recognised at their transaction value and subsequently measured at market value al the balance sheet date. The slatement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year. Investments in subsidiaries are included at cost less provision for impairment. The Charity has tsken advanlage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group. of which this is the parent, qualifies as a small group (i) Financial instruments The charity only has financial a55ets and financial liabilities that qualify as basic financial Instruments. Basic Iinancial in5trurnents are inibally recognised at transackn'on value and subsequently measured at their settlement value. (i) Taxation The charity is exempt from corporation tax on its charitable activities. {kl Pension costs and other post-retirement benefits AIS new employees were entered into The Pierrepont Eststes Management Limited Group Life Assurance Scheme, in which the charity participated on a defined contn'bution basis. Contributions payable lo this pension scheme are charged lo the statement of financial activity in the period to which they relate.
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 Legal status of the charity The charity is a UK company limited by gLJarantee, incorporated in England and Wales, and has no share capital. The liability of each member in the evenl of the charity being wound up is limited to £1. Ils registered address is Pierrepont Estates Management Ltd, Eslale Office, Thoresby Park. Newark, Nottinghamshire, NG22 9EQ. Donations and legacies 2024 2023 Donations under gift aid 2,380 2,380 Income from charitable activities 2024 2023 Rent Riding Hall income Event income Caravan income Gallery sales ané commissions Other income 108,099 48,397 121,829 9,329 3,323 2.834 96,686 48,434 98,586 9,295 148 1.880 293,811 255. 029 Inveslment incovne 2024 2023 Income from tradeable investments 28.779 27.399 Charitable activities expenditure 2024 2023 Governance costs (see note 7) Other gallery expenditure Rental and administrative expenses Profit on disposal of fixed asseis 12,219 107,078 301.115 {125) 9,548 43.003 259, 93g 420,287 312,490
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 Governance costs 2024 2023 Accountancy Legal fees Auditors, remuneration 4,700 2,819 4.700 4,400 748 4,400 12.219 9,548 Net expenditure forthe period 2024 2023 Nel expenditure is slated after charging-. Audilors. remuneration Depreciation - owned assets 4,700 75,272 4,400 84,037 Taxation The charity is exempt from tax on income and gains falling within Part 11 of the Corporation Tax Act 2010 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectsves.
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 10. Prograrnme related investments- freehold land and buildings 2024 2023 Carrying value at 1 Apnl 2023 Value at 31 March 2024 2,357,346 2,357,346 2,357,346 2,357,346 11. Tangible fixed assets Robes and Motor chairs Paintings vehicles Fixtures Museum and irnprove- Integral fittings ments features Computer equipment Total Cost Al 1 April 2023 Additions Disposals At 31 March 2024 5.000 96.475 15.894 79.241 132,691 677.328 53,617 1,060,246 (2,352) 12,3521 53,617 1,057,894 5.000 96,475 13.542 79,241 132,691 677,328 Depreclation Al 1 April 2023 Charge for the period Eliminated on disposal Al 31 MaTch 2024 15,894 46,762 2.033 90,047 267.697 8,592 59,195 17.404 437.804 5,452 75,272 12.3521 22,856 510.724 12,3521 13,542 48,795 98,639 326.892 Net book value At 31 March 2024 5.000 96,475 30.446 34.052 350,436 30,761 547,170 At 1 April 2023 5,000 96,475 32,479 42,644 409,631 36,213 622,442 15
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 12. Investments 2024 2023 Tradeable investments Investment in subsidiary Investments 1.287,485 1,307,777 1,287.486 1,307,778 Tradeable investments Market value at 1 April 2023 Additions Revaluation Disposals at market value Market value at 31 March 2024 1,307.777 1,438,276 99,512 (1,558.0801 1,287,485 1,570.604 449.660 (77,377) (635, 110) 1,307,777 Investment in subsidiary Historic cost at 1 April 2023 Historic cost at 31 March 2024 The investment in subsidiary represents a 100 /0 holding in Coutyard Trading Company Limited, a licenced restaurant premises. whose registered office is Eslate Office, Th0SbY Park, Newark, Nottinghamshire, United Kingdom, NG22 9EQ. 13. Debtors: amounts falling due within one year 2024 2023 Trade debtors Prepayments VAT Loan to subsidiary 59.197 3,521 1,520 573.499 28,676 5,077 1,641 525,999 637,737 561,393 14. Creditors: amounts falling due within one year 2024 2023 Trade creditors other creditors and accruals Deferred incorne 16,060 98,141 7.037 65,395 17,730 7,620 121,238 91,745 16
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 15. Analysis of movements in unTe5tricted funds 2023 Movement 2024 Unrestricted funds General fund 4,830,416 (12,491) 4,817,925 Total funds 4.830.416 {12,491) 4,817,925 Net movernent in funds. included in the above are as follow5= Incoming Resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 322,590 (434,593) 99,512 112,4911 Total funds 322,590 {434.593} 99,512 112,4911 16. Related party transactions During the period, the charity received managemenl services. building ServIS and other general services from related parties. All Iransactions are undertaken on an ami's length basis and both their amounts and nature are summarised below- Pierrepont Settlement is a related party in the period as G M Pierrepont 15 a beneficiary and W J E Price is a trustee. During the period. expenses of £275 (2023- £900) were charged to the charity and expenses of £nil 12023 - £ nil) were recharged by the charity to the trust. At 31 March 2024 the balance owed to PleepOnI Settlement is £nil (2023 - £2401. Pierrepont Estate Management Limited is a related party in the period as W J E pri is a shareholder in his capacity as Trustee. During the period, expenses of £30,42312023 £87:393) were charged to the charity and expenses of £nil {2023 £5,000) were recharged by the charity to the company. At 31 March 2024 the balance owed to Pierrepont Estates Management Limited is £7.828 {2023 - £27,487}. Thoresby Settlernent is a related party in the period as G M PleepOt is a beneficiary and W J E Price is a trustee. During the period, expenses of £11.499 (2023 - £19.099) were charged lo the charity and expenses of £2,32212023- £1,498) were recharged by the charily lo the trust. At 31 March 2024 the balance owed to Thoresby Settlement is £520 {2023 balance owed to Thoresby Settlement - £8.177). Courtyard Trading Company Limited is a related party in the period as The Stonebridge Trust owns 100 % of the shares. During the period, expenses of £47,500 (2023- £ nil} were charged to the charity and expenses of £36,547 (2023 £36.6831 were recharged by the charily to the company. At 31 March 2024 the balance owed from Courtyard Trading Company Limited is £573.499 (2023 - £525,999) 17
THE STONEBRIDGE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2024 17. Financial assets and liabilities The charity has financial assets and financial liabilrties of a kind that quality as basic financial instruments. These are initially recognised at transaction value and subsequenuy measured at their amortised cost. Financial assets 2024 2023 Cash al bank and in hand Trade debtors Other debtors Loan to subsidiary 109,424 59,197 1,52D 573.499 73,202 28,676 1,641 525,999 743,640 629,578 Financial liabilities Trade creditors other creditors and accruals 16,060 98,141 66,395 17,730 114,201 84.125 18. Obligations under leases The total of future minimum lease income 15 a5 follows". 2024 2023 Not later than one year Later than one year and not later than five years Later than five years 52.529 64,823 58,895 50,267 23,113 176.247 73,380 18