THE STONEBRIDGE TRUST
REPORT AND AUDITED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Charity number 506970 Company number 01304962
THE STONEBRIDGE TRUST
INDEX
Year ended 31 March 2025
| Page | |
|---|---|
| General information | 2 |
| Report ofthe trustees | 3 |
| Independent auditor's report | 6 |
| Statement offinancial activities | 9 |
| Balance sheet | 10 |
| Notestothefinancialstatements | 11 |
1
THE STONEBRIDGE TRUST
GENERAL INFORMATION
Year ended 31 March 2025
Trustees
Company number
Registered charity number
Company secretary
Registered office
Auditors
Investment managers
W JE Price CV C Brainerd K A Pierrepont 01304962 506970
G M Pierrepont
Pierrepont Estates Management Ltd Estate Office Thoresby Park Newark Nottinghamshire NG22 9EQ Dixon Wilson Audit Services LLP 22 Chancery Lane London WC2A 1LS
Cazenove Capital
1 London Wall Place London EC2Y 5AU
Bankers
Solicitors
Barclays Bank PLC 2 Humber Quays Wellington Street West Hull HU1 2BN
Forsters LLP 22 Baker Street London W1U 3BW
2
THE STONEBRIDGE TRUST
REPORT OF THE TRUSTEES
Year ended 31 March 2025
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 2025.
Reference and administrative information
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 served during the period and since the period end are as follows:
W JE Price CV C Brainerd K A Pierrepont
Structure, governance and management
The charity is controlled by its governing 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 16) 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 the 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 to them by the public. The vision of the Trust is to ensure that Thoresby Courtyard, its open parkland and Grade II 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 Stonebridge Trust manages Thoresby Courtyard, a Grade Il listed site, in order to ensure that it is accessible to the public. The charity 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 Manvers 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 the hire of the hall for functions including weddings.
The Trust relies on income generated from these strategies to cover its operating costs and enable investment to ensure the ongoing preservation of Thoresby Courtyard & Park.
The current and continuing aims of the Trust are:-
- e Developing Thoresby Courtyard & Park as a destination of choice for local day visitors and tourists; e {Introducing and developing a range of in house and third party events and activities at Thoresby; e Developing Thoresby Courtyard & Park as a venue for hire.
3
THE STONEBRIDGE TRUST
REPORT OF THE TRUSTEES (continued)
Year ended 31 March 2025
The trustees, The trustees, having regard to the Public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that that purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act.
Financial review
At 31 March 2025 total unrestricted reserves held amounted to £4,843,836 (2024 - £4,817,925).
The trustees seek to maintain reserves at least equal to the carrying value of the freehold property at Thoresby and in the longer term hope to increase reserves to a level at which they can fund 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 appropriate controls are in place 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 satisfied that systems are in place to mitigate their exposure to the major risks. For example, the Trust 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 trust’s financial position to be satisfactory. A profit of £25,911 was recognised in the year (2024 - deficit £12,491).
The trustees continue to invest donations received and other income generated in suitable investments to provide income and capital growth for the trust. The day-to-day management of the investments is covered by Cazenove Capital, who the trustees consider are suitable for this work.
Achievements and performance
In 2025 Stonebridge Trust successfully amended the business format from earning event income and rentals, to rental income only. This successfully changed the format to a fixed income and expense profile which has been significantly easier to manage and less volatile and requires less support to it’s sister organisation, Courtyard Trading Company. This has also facilitated the increase in profitability for CTC to eventually begin paying back it’s loans to StoneBridge Trust.
4
17 December
THE STONEBRIDGE TRUST
INDEPENDENT AUDITOR’S REPORT
Year ended 31 March 2025
Opinion
We have audited the financial statements of The Stonebridge Trust (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet and notes to the financial statements, including a summary of significant 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 Accepted Accounting Practice).
In our opinion, the financial statements:
-
e give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its incoming resources and application of resources for the year then ended;
-
e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
-
e have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit 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 that the audit evidence we have obtained is sufficient and appropriate to provide a 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 performed, 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 concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect 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 thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is 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 to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.
6
INDEPENDENT AUDITOR’S REPORT (continued)
|
THE STONEBRIDGE TRUST
Year ended 31 March 2025
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
e the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
e the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ;
-
e adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
e the financial statements are not in agreement with the accounting records and returns; or
-
e certain disclosures of trustees’ remuneration specified by law are not made; or
-
e 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 satisfied 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 operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors 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 ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
7
18 December
THE STONEBRIDGE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
Year ended 31 March 2025
| Note | Unrestricted | Unrestricted | |
|---|---|---|---|
| reserves | reserves | ||
| 2025 | 2024 | ||
| £ | £ | ||
| income and endowments from: | |||
| Donations and legacies | 3 | 359 | - |
| Charitable activities | 4 | 262,714 | 293,811 |
| Investments | 5 | 59,114 | 28,779 |
| Total income | 322,187 | 322,590 | |
| Expenditure on: | |||
| Raising funds | (5,858) | (14,306) | |
| Charitable activities | 6 | (273,326) | (420,287) |
| Net (losses)/gains on investment assets | 12 | (17,092) | 99,512 |
| Net income/(expenditure) | 25,911 | (12,491) | |
| Reconciliation offunds | |||
| Netmovement in funds | 25,911 | (12,491) | |
| Total funds broughtforward | 4,817,925 | 4,830,416 | |
| Totalfundscarriedforward | 4,843,836 | 4,817,925 |
All amounts are in respect of continuing operations. All gains and losses recognised in the period are included above.
9
17 December 2025
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
- Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
(a) Basis of accounting and assessment of going concern
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102)) issued in October 2019 and the Charities Act 2011.
The financial statements 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 otherwise stated 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 statement on the grounds that the charitable company qualifies as a small charitable company.
(c) Income recognition
All income is recognised in the statement of financial activities when the Trust has entitlement to the income, it is probable that the income will be received and the amount of the income can be measured reliably.
Donations and grants are recognised when the Trust has entitlement to 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 included in the accounts upon performance of the contract.
Investment gains and losses includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Rents are recognised on an accruals basis. The rental income is matched 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, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Costs of generating funds are those costs incurred in trading activities that raise funds.
Pension scheme contributions are recognised in the year in which they are payable to the scheme.
11
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
(e) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include governance costs (accountancy, legal fees and auditors’ remuneration) which have all been allocated to charitable activities.
(f) Programme related investments
Programme related investments represent properties held by the charity which are made readily available to the public in order to fulfil the charity’s aim. The investments are held at cost with an annual impairment review carried out by the trustees. Where assets are gifted to the trustees, initial recognition is at market value of the date of the gift.
(g) Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life on a straight-line basis:
| Robes and chairs | - not depreciated |
|---|---|
| Paintings | - not depreciated |
| Museum improvements | - between 4% and 20% on cost |
| Integral features | - 10% on cost |
| Fixtures and fittings | - 15% on cost |
| Motor vehicles | - 25% on cost |
| Computerequipment | -15%oncost |
Fixed assets are capitalised at cost, or market value at the time of transfer to the 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 at the balance sheet date. The statement 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 Gharity has taken advantage of the exemption under section 399 of the Gompanica 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 assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
(j) Taxation
The charity is exempt from corporation tax on its charitable activities.
(k) Pension costs and other post-retirement benefits
All new employees were entered into The Pierrepont Estates Management Limited Group Life Assurance Scheme, in which the charity participated on a defined contribution basis. Contributions payable to this pension scheme are charged to the statement of financial activity in the period to which they relate.
12
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
2. Legal status of the charity
The charity is a UK company limited by guarantee, incorporated in England and Wales, and has no share capital. The liability of each member in the event of the charity being wound up is limited to £1. Its registered address is Pierrepont Estates Management Ltd, Estate Office, Thoresby Park, Newark, Nottinghamshire, NG22 9EQ.
| 3. Donations and legacies |
2025 | 2024 |
|---|---|---|
| £ | £ | |
| Donations | 359 | - |
| 359 | - | |
| 4, Income from charitable activities |
2025 | 2024 |
| £ | £ | |
| Rent | 104,009 | 108,099 |
| Riding Hall income | 40,482 | 48,397 |
| Event income | 114,067 | 121,829 |
| Caravan income | 101 | 9,329 |
| Gallery sales and commissions | 812 | 3,323 |
| Other income | 3,243 | 2,834 |
| 262,714 | 293,811 | |
| 5. Investment income |
2025 | 2024 |
| £ | £ | |
| Income from tradeable investments | 59,114 | 28,779 |
| 6. Charitable activities expenditure |
2025 | 2024 |
| F | F | |
| Governance costs (see note 7) | 9,931 | 12,219 |
| Other gallery expenditure | 74,460 | 107,078 |
| Rental and administrative expenses | 188,935 | 301,115 |
| Profit on disposal offixed assets | - | (125) |
| 273,326 | 420,287 |
13
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|7.|Governance|costs|2025|2024|
|£|£|
|Accountancy|5,014|4,700|
|Legal|fees|67|2,819|
|Auditors’|remuneration|4,850|4,700|
|9,931|12,219|
|8.|Net|expenditure|for the|period|2025|2024|
|£|£|
|Net|expenditure|is|stated|after|charging:|
|Auditors’|remuneration|4,850|4,700|
|Depreciation|— owned|assets|(Note|11)|62,259|75,272|
----- End of picture text -----
9. 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 objectives.
14
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
10. Programme related investments — freehold land and buildings
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Carrying value at 1 April 2024 | 2,357,346 | 2,357,346 |
| Valueat31March2025 | 2,357346 | 2,357,346 |
11. Tangible fixed assets
| Robes | Fixtures | Museum | ||||||
|---|---|---|---|---|---|---|---|---|
| and | Motor | Computer | and | improve-_ | Integral | |||
| chairs | Paintings | vehicles | equipment | fittings | ments | features | Total | |
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Cost | ||||||||
| At 1 April 2024 | 5,000 | 96,475 | 13,542 | 79,241 | 132,691 | 677,328 | 53,617 | 1,057,894 |
| Additions Disposals |
- - |
- - |
. - |
- - |
- - |
- - |
- - |
- - |
| At 31 March 2025 | 5,000 | 96,475 | 13,542 | 79,241 | 132,691 | 677,328 | 53,617 | 1,057,894 |
| Depreciation | ||||||||
| At1 April 2024 | - | - | 13,542 | 48,795 | 98,639 | 326,892 | 22,856 | 510,724 |
| Charge forthe period | - | - | . | 1,866 | 8,164 | 46,777 | 5,452 | 62,259 |
| Eliminated on disposal | . | - | - | - | - | - | - | - |
| At 31 March 2025 | - | - | 13,542 | 50,661 | 106,803 | 373,669 | 28,308 | 572,983 |
| Net book value | ||||||||
| At 31 March 2025 | 5,000 | 96,475 | . | 28,580 | 25,888 | 303,659 | 25,309 | 484,911 |
| At1April2024 | 5,000 | 96,475 | - | 30,446 | 34,052 | 350,436 | 30,761 | 547,170 |
15
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
| 12. Investments |
2025 | 2024 |
|---|---|---|
| £ | £ | |
| Tradeable investments | 1,270,393 | 1,287,485 |
| Investment in subsidiary | 1 | 1 |
| Investments | 1,270,394 | 1,287,486 |
| Tradeable investments | ||
| Marketvalue at 1 April 2024 | 1,287,485 | 1,307,777 |
| Additions Revaluation Disposals at market value |
- (17,092) . |
1,438,276 99,512 (7,558, 080) |
| Market value at 31 March 2025 | 1,270,393 | 1,287,485 |
| Investment in subsidiary | ||
| Historic cost at 1 April 2024 | 1 | 1 |
| Historiccostat31March2025 | 1 | 1 |
The investment in subsidiary represents a 100% holding in Courtyard Trading Company Limited, a licenced restaurant premises, whose registered office is Estate Office, Thoresby Park, Newark, Nottinghamshire, United Kingdom, NG22 9EQ.
| 13. Debtors: amounts falling due within one year |
2025 | 2024 |
|---|---|---|
| £ | £ | |
| Trade debtors | 128,064 | 59,197 |
| Prepayments | - | 3,521 |
| VAT | 980 | 1,520 |
| Loan to subsidiary | 613,499 | 573,499 |
| 742,543 | 637,737 |
Included within trade debtors above are amounts owed to related partles of £79,661 (2024: Enil) (see nule 16)
| 14. | Creditors: amounts falling due within one year | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Trade | creditors | 148,663 | 16,060 |
| Other | creditors and accruals | 24,884 | 98,141 |
| Deferred income | 7,037 | 7,037 | |
| 180,584 | 121,238 |
Included within trade creditors above are amounts owed to related parties of £143,879 (2024: £3,347) (see note 16)
16
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
15. Analysis of movements in unrestricted funds
| 15. Analysis of movementsmovements in |
unrestricted funds | |||
|---|---|---|---|---|
| 2024 | Movement | 2025 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 4,817,925 | 25,911 | 4,843,836 | |
| Total funds | 4,817,925 | 25,911 | 4,843,836 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| Resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 322,187 | (279,184) | (17,092) | 25,911 |
| Totalfunds | 322,187 | (279,184) | (17,092) | 25,911 |
- Related party transactions During the period, the charity received management services, building services and other general services from related parties. All transactions are undertaken on an arm’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 is a beneficiary and W J E Price is a trustee. During the period, expenses of £17,886 (2024 - £275) were charged to the charity and expenses of Enil (2024 - £ nil) were recharged by the charity to the trust. At 31 March 2025 the balance owed to Pierrepont Settlement is £17,610 (2024 - fnil).
Pierrepont Estate Management Limited is a related party in the period as W J E Price is a shareholder in his capacity as Trustee. During the period, expenses of £139,519 (2024 - £30,423) were charged to the charity and expenses of £nil (2024 - £nil) were recharged by the charity to the company. At 31 March 2025 the balance owed to Pierrepont Estates Management Limited is £97,013 (2024 - £7,828).
| horesby Farming ts a related party in the period as G M Pierrepont is a partner and W J E Price is a partner in his capacity as trustee. During the period expenses of £6,925 (2024- fnil) were charged to the charity and expenses of £nil (2024 - £nil) were recharged by the charity to the partnership. At 31 March 2025 the balance owed to Thoresby Farming is Enil (2024 - £nil).
Thoresby Settlement is a related party in the period as G M Pierrepont is a beneficiary and W J E Price is a trustee. During the period, expenses of £45,199 (2024 - £11,499) were charged to the charity and expenses of £18,251 (2024 - £2,322) were recharged by the charity to the trust. At 31 March 2025 the balance owed to Thoresby Settlement is £29,256 (2024 - £520).
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 £41,301 (2024 - £47,500) were charged to the charity and expenses of £215,250 (2024 - £36,547) were recharged by the charity to the company. At 31 March 2025 the balance owed from Courtyard Trading Company Limited is £693,160 (2024 - £573,499),
During the period the total expenses reimbursed to the trustees were Enil (2024 - £nil).
17
THE STONEBRIDGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2025
17. Financial assets and liabilities
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their amortised cost.
| Financial assets | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Cash at bank and in hand | 169,226 | 109,424 |
| Trade debtors | 128,064 | 59,197 |
| Other debtors | 980 | 1,520 |
| Loan to subsidiary | 613,499 | 573,499 |
| 911,769 | 743,640 | |
| Financial liabilities | ||
| Trade creditors | 148,663 | 16,060 |
| Other creditors and accruals | 24,884 | 98,141 |
| 173,547 | 114,201 |
18. Obligations under leases
The total of future minimum lease income is as follows:
| The total of futurefuture minimum lease income is as follows: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Not laterthan one year | 57,683 | 52,529 |
| Laterthan one yearand not later than five years | 51,385 | 64,823 |
| Laterthan five years | 47,516 | 58,895 |
| 156,584 | 176,247 |
18