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||||Notes|Endowment|Restricted|Unrestricted|||
|---|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Fund|2021|2020|
|INCOME AND|ENDOWMENTS|||f|f|f|f|f|
|FROM|||||||||
|Donations<br>and Legacies||||1,676,195|1,177,171|3,623|2,856,989|3,299,698|
|Investments|||||256,624|473|257,097|304,370|
|Total||||1,676,195|1,433,795|4,096|3,114,086|3,604,068|
|EXPENDITURE|ON||||||||
|Raising funds:|||||||||
|Investment<br>management<br>costs||||66,897|9,660||76,557|66,088|
|Charitable<br>activities:|||||||||
|Scholarships,|bursaries<br>and|prizes|||295,760|11,575|307,335|247,777|
|Facilities at Stowe School|||||258,360|4,960|263,320|247,864|
|Total||||66,897|563,780|16,535|647,212|561,729|
|Net Income/(Expenditure)||before||1,609,298|870,015|(12,439)|2,466,874|3,042,339|
|Gains/(Losses)|on investments||||||||
|Net Gains/(Losses)<br>on investments|||6|1,498,847|216,442|(138)|1,715,151|(343,908)|
|Net Income/(Expenditure)||||3,108,145|1,086,457|(12,577)|4,182,025|2,698,431|
|Transfers between<br>funds|||||||||
|Net movement|in funds|||3,108,145|1,086,457|(12,577)|4,182,025|2,698,431|
|Reconciliation|offunds||||||||
|Fund balances|brought<br>forward|||11,434,400|8,165,391|3,179,676|22,779,467|20,081,036|
|Fund balances|carried forward||9-12|14,542,545|9,251,848|3,167,099|26,961,492|22,779,467|





|||||||Notes|2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
|Fixed assets|||||||||
|Investments|and cash awaiting|||investment|||26,326,634|22,679,493|
|Current Assets|||||||||
|Debtors|||||||30,368|12,079|
|Cash at bank|||||||619,189|100,583|
|Creditors: Amounts||falling due||within|1year||(14,699)|(12,688)|
|Net current|assets||||||634,858|99,974|
|Total assets|less current||liabilities||||26,961,492|22,779,467|
|NET ASSETS|||||||26,961,492|22,779,467|
|Accumulated|funds:||||||||
|Endowment|Fund|||||10|14,542,545|11,434,400|
|Restricted<br>Fund||||||11|9,251,848|8,165,391|
|Unrestricted|Fund|||||12|3,167,099|3,179,676|
|TOTAL FUNDS|||||||26,961,492|22,779,467|






|||||Total Funds|Prior Year|
|---|---|---|---|---|---|
||||Note|2021|2020|
|Net cash provided<br>by operating<br>activities|||14|517,304|1,183,065|
|Cash flows from investing|activities:|||||
|Interest and Dividends||||257,097|304,370|
|Proceeds from sale ofinvestments||||3,023,859|2,832,792|
|Purchase ofinvestments||||(4,581,528)|(4,440,953)|
|Net movement<br>on rolling|credit balances|||6,000,503|(4,278,938)|
|Increase/(Decrease)<br>in cash held for||investment||(6,369,940)|2,748,944|
|Income (not reinvested)/reinvested||||(4,884)|(57,871)|
|Net cash provided<br>by investing<br>activities||||(1,674,893)|(2,891,656)|
|Cash flows from financing|activities:|||||
|Receipt ofendowment||||1,676,195|1,555,781|
|Net cash provided<br>by financing activities||||1,676,195|1,555,781|
|Change<br>in cash and cash|equivalents|in the year||518,606|(152,810)|
|Cash and cash equivalents|brought<br>forward|||100,583|253,393|
|Cash and cash equivalents|carried forward|||619,189|100,583|





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## 

|Investment|Income|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||2021|||2020|
||||||||Unrestricted|||
||||||Restricted|Funds|Fund|Total|Total|
||||Scholarship,|||||||
||||Bursary and|||||||
||||Prize|Funds|Facilities|Fund||||
|Dividends||||255,632||||255,632|249,311|
|Interest received||||75||917|473|1,465|55,059|
|Other income||||||||||
|||||255,707||917|473|257,097|304,370|
|||||||2020|||2019|
||||||||Unrestricted|||
||||||Restricted|Funds|Fund|Total|Total|
||||Scholarship,|||||||
||||Bursary and|||||||
||||Prize|Funds|Facilities|Fund||||
|Dividends||||249,311||||249,311|219,219|
|Interest received||||3,046||34,830|17,183|55,059|49,000|
|Other income||||||||||
|||||252,357||34,830|17,183|304,370|268,219|
|Investment|management||costs|||||||
|||||||||2021|2020|
|||||||||f|f|
|Investment|management||fees|||||76,557|66,088|
|||||||||76,557|66,088|
|Analysis of|charitable|expenditure||||||||
||||||||Support|||
||||||||and|||
||||||Grant funded||governance|||
|||||||activity|costs|2021|2020|
|||||||f|f|f|f|
|Scholarships,|Bursaries|and Prizes||||295,760|11,575|307,335|247,777|
|Facilities||||||258,360|4,960|263,320|247,864|
|||||||554,120|16,535|570,655|495,641|





||||||||Support|||
|---|---|---|---|---|---|---|---|---|---|
||||||||and|||
|||||||Grant funded|governance|||
|||||||activity|costs|2020|2019|
|||||||f|f|f|f|
||Scholarships,|Bursaries and||Prizes||238,565|9,212|247,777|254,832|
||Facilities|||||243,419|4,445|247,864|205,109|
|||||||481,984|13,657|495,641|459,941|
||Support and|governance|costs are broken down|||as follows:||||
|||||||||2021|2020|
|||||||||f|f|
||Governance|costs||||||6,300|6,120|
||Other support costs|||||||10,235|7,537|
|||||||||16,535|13,657|
||Governance|costs comprise||an audit fee off6,300(2020:E6,120)|||and Trustee|expenses of nil (2020:|nil).|
|6|Investments|||||||||
||Movement|in fixed asset|listed investments|||||2021|2020|
|||||||||f|f|
||Market value brought<br>forward|||||||22,679,493|19,827,375|
||Purchase of|investments||||||4,581,528|4,440,953|
||Proceeds from disposal ofinvestments|||||||(3,023,859)|(2,832,792)|
||Net movement<br>on cash balances (decrease)/increase|||||||369,437|1,529,994|
||in cash held|for investment||||||||
||Net investment<br>market value (decrease)/increase|||||||1,715,151|(343,908)|
||Income re-invested|||||||4,884|57,871|
||Market value at 31July|||||||26,326,634|22,679,493|
||Investments|comprise:||||||||
||Quoted investments<br>and||unit trusts|||||14,109,417|10,702,122|
||Cash instruments<br>and cash|||awaiting|investment|||12,217,217|11,977,371|
|||||||||26,326,634|22,679,493|
||Historical value at 31July|||||||18,966,662|23,126,560|
||investments|comprise:||||||||
||Quoted investments<br>and||unit trusts|||||10,995,369|9,022,431|
||Cash instruments<br>and cash|||awaiting|investment|||7,971,293|14,104,129|
|||||||||18,966,662|23,126,560|





## 

|7|Debtors|||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||f|f|
||Tax recovery on Gift||Aid donations|27,848|11,947|
||Legacies|||||
||Dividend|Income||2,520|132|
|||||30,368|12,079|
|8|Creditors:|Amounts|falling due within one year|||
|||||2021|2020|
|||||f|f|
||Other creditors and||accruals|14,699|12,688|
|||||14,699|12,688|
|9|Analysis of Net Assets|||||



||||Scholarship|Facilities|||
|---|---|---|---|---|---|---|
|||Endowment|Restricted|Restricted|Unrestricted|2021|
|||Funds|Funds|Funds|Fund|Total|
|||f|f|f|f|f|
|Investments||14,718,658|3,038,765|5,653,609|2,915,602|26,326,634|
|Debtors||470|17,771|11,941|186|30,368|
|Cash at Bank||(176,583)|50,593|479,169|266,010|619,189|
|Creditors due within|1year||||(14,699)|(14,699)|
|||14,542,545|3,107,129|6,144,719|3,167,099|26,961,492|
||||Scholarship|Facilities|||
|||Endowment|Restricted|Restricted|Unrestricted|2020|
|||Funds|Funds|Funds|Fund|Total|
|||f|f|f|f|f|
|investments||11,321,216|2,136,453|6,031,334|3,190,490|22,679,493|
|Debtors||5,634|138|6,214|93|12,079|
|Cash at Bank||107,550|15,835|(24,583)|1,781|100,583|
|Creditors due within|1year||||(12,688)|(12,688)|
|||11,434,400|2,152,426|6,012,965|3,179,676|22,779,467|





|As at 31July 20|21|||||||
|---|---|---|---|---|---|---|---|
|10 Endowment<br>Fund||||||||
|Fund||At 31July||Gain on|||At 31July|
|||2020|Donations|Investments|Expenses|Transfers|2021|
|||f||f|f||f.|
|Roxburgh<br>Trust||1,206,044||149,475|(6,671)||1,348,848|
|General Scholarship|Fund|923,140||114,412|(5,106)||1,032,446|
|McElwee||254,801||31,580|(1,409)||284,972|
|Mrs ML Capel-Cure||231,247||28,661|(1,279)||258,629|
|Friends ofStowe||214,315||26,562|(1,186)||239,691|
|Prize Funds - FOS General||198,100||24,552|(1,096)||221,556|
|prizes||||||||
|War Memorial||179,344||22,228|(992)||200,580|
|John Beamish||172,886||21,427|(956)||193,357|
|Late Thomas Waddell||153,903||19,074|(851)||172,126|
|Robert McDougall||36,622||4,539|(203)||40,958|
|Myles Henry||91,985||11,401|(509)||102,877|
|Samurai Sword Bursary||75,406||9,346|(417)||84,335|
|John Wilson Memorial||69,183||8,574|(383)||77,374|
|Maj. Richardson<br>Haworth||63,789||7,906|(353)||71,342|
|Old StoicJubilee Bursary||52,976||6,566|(293)||59,249|
|Granville<br>Trust Bursary||49,092||6,084|(272)||54,904|
|Markland<br>Bursary||39,205||4,859|(217)||43,847|
|John David Syrett||36,696||4,548|(203)||41,041|
|Other Prize Funds||69,916||8,665|(387)||78,194|
|Funds under scheme|of|4,118,650||510,459|(22,783)||4,606,326|
|management||||||||
|Other Funds:||||||||
|Bobbie Butlin Scholarship||330,992||41,023|(1,831)||370,184|
|Dr Huggins<br>Music Scholarship||328,713||40,740|(1,818)||367,635|
|Scott —Ichinose Fund||284,769||35,294|(1,575)||318,488|
|Lewis Bequest - Music||180,028||22,312|(996)||201,344|
|Lewis Bequest - Roxburgh||180,028||22,312|(996)||201,344|
|Old Stoic||131,907||16,348|(730)||147,525|
|Leavers'<br>Legacies||452,689|300|56,125|(2,505)||506,609|
|Bursaries General||2,825,691|813|132,018|(5,892)|(1,760,924)|1,191,706|
|Stringer Bursary||991,456||122,879|(5,484)||1,108,851|
|Max Ausnit<br>Bursary||283,621||35,152|(1,569)||317,204|
|Founder's<br>Bursary||228,504||28,320|(1,264)||255,560|
|Berry Scholarship||196,926|100,000|27,505|(1,228)||323,203|
|Change 100|||1,313,593|280,704|(12,528)|1,760,924|3,342,693|
|Tufton Bursary|||250,000|15,492|(691)||264,801|
|John Farr Bursary||225,574|4,000|28,205|(1,259)||256,520|
|Other Bursary and Prize||674,852|7,489|83,959|(3,748)||762,552|
|Funds||||||||
|Total Other Funds||7,315,750|1,676,195|988,388|(44,114)||9,936,219|
|Total of Endowment|Fund|11,434,400|1,676,195|1,498,847|(66,897)||14,542,545|





## 



## 

||||At 31July|Investment||Investment|Outgoing|||At 31July|
|---|---|---|---|---|---|---|---|---|---|---|
||||2020|Income|Donations|Movements|Resources|Expenses|Transfers|2021|
||||||||f|||E|
|Facilities —General|||2,585,654|384|48,436||(167,587)|||2,466,887|
|Swimming<br>Pool|||232,076|35||||||232,111|
|Science —Building|||3,901|1|4,170||(7,028)|||1,044|
|Security Lodge|||9,841|1||||||9,842|
|Golf Course|||62,246|9|||(59,905)|||2,350|
|Golf Clubhouse|||49,150|7||||||49,157|
|Drayson Sports|Hall||316,182|48|30,000|||||346,230|
|Classrooms|||23,875|4||||||23,879|
|Choir Stalls for|Chapel||42,043|6||||||42,049|
|Stowe Putter|||22,002|3||||||22,005|
|Design, Technology||&|2,489,715|372|31,410|||||2,521,497|
|Engineering|||||||||||
|Fives Courts|||20,394|||||||20,397|
|Art School|||3,793||7,025|||||10,819|
|Bells|||12,415|||||||12,417|
|New Sport pitches|||12,556|||||||12,558|
|Drayson<br>lighting|||9,356|||||||9,357|
|Counselling<br>Services|||6,418||17,422||(23,840)||||
|Girls Boarding|||7,565|1||||||7,566|
|Sports Facilities|||84,426|13|128|||||84,567|
|Chapel|||5,288|1||||||5,289|
|Eyton Art Fund|||6,292|1||||||6,293|
|Sixth Form Centre||||22|249,983|||||250,005|
|Other Funds<br>&E5,000|||7,776||624|||||8,400|
|Total Facilities Funds|||6,012,964|917|389,198||(258,360)|||6,144,719|
|Scholarship<br>Funds|||406,416|255,707|787,323||(295,760)|||1,153,686|
|Scholarship<br>Funds-|||1,746,011||650|216,442|-|(9,660)||1,953,443|
|Invested|||||||||||
|Total Scholarships|||2,152,427|255,707|787,973|216,442|(295,760)|(9,660)||3,107,129|
|Funds|||||||||||
|Total Restricted|Fund||8,165,391|256,624|1,177,171|216,442|(554,120)|(9,660)||9,251,848|





## 

## 

||At 31July|Investment||Investment|Outgoing|||At 31July|
|---|---|---|---|---|---|---|---|---|
||2020|Income|Donations|Movements|Resources|Expenses|Transfers|2021|
||f|f|f|f|f|f|f|f|
|Facilities|||||||||
|Fund|3,179,676|473|3,623|(138)||(16,535)||3,167,099|
||At 31July|Investment||Investment|Outgoing|||At 31July|
||2019|Income|Donations|Movements|Resources|Expenses|Transfers|2020|
||f|f|f|f|f|f|f|f|
|Facilities|||||||||
|Fund|2,286,572|17,183|897,007|(7,429)|(497)|(13,160)||3,179,676|



## 



||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||f|f|
|Net movement<br>in|funds||||||4,182,025|2,698,431|
|Deduct gift of endowment|||||||(1,676,195)|(1,555,781)|
|Deduct interest income||shown|in investing|activities|||(257,097)|(304,370)|
|Add back gains on|investments||||||(1,715,151)|343,908|
|Decrease/(increase)|in|debtors|||||(18,289)|2,080|
|Increase/(decrease)|in|creditors|||||2,011|(1,203)|
|Net cash (used in)/generated|||from operating||activities||517,304|1,183,065|
|15 Analysis ofchanges||in net|debt||||||
|||||||At 1August||At 31July|
|||||||2020|Cash flows|2021|
|Cash and cash equivalents|||||||||
|Cash||||||100,583|518,606|619,189|
|||||||100,583|518,606|619,189|



## 



## 

|||||Notes|Endowment|Restricted|Unrestricted||
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|Fund|2020|
|INCOME AND ENDOWMENTS||FROM|||f.|f|f|f|
|Donations<br>and Legacies|||||1,555,781|846,910|897,007|3,299,698|
|Investments||||||287,187|17,183|304,370|
|Total|||||1,555,781|1,134,097|914,190|3,604,068|
|EXPENDITURE ON|||||||||
|Raising funds:|||||||||
|Investment<br>management|costs||||56,719|9,369||66,088|
|Charitable<br>activities:|||||||||
|Scholarships,<br>bursaries|and prizes|||||238,565|9,212|247,777|
|Facilities at Stowe School||||||243,419|4,445|247,864|
|Total|||||56,719|491,353|13,657|561,729|
|Net Income before Gains/(Losses)|||on||1,499,062|642,744|900,533|3,042,339|
|investments|||||||||
|Net Gains/(Losses)<br>on investments|||||(288,777)|(47,702)|(7,429)|(343,908)|
|Transfers|||||63,421|(63,421)|||
|Net Income and Net movement||in|||1,273,706|531,621|893,104|2,698,431|
|funds|||||||||
|Reconciliation<br>offunds|||||||||
|Fund balances<br>brought|forward||||10,160,694|7,633,770|2,286,572|20,081,036|
|Fund balances carried forward|||||11,434,400|8,165,391|3,179,676|22,779,467|





|Fund||At 31July||Gain on|||At 31July|
|---|---|---|---|---|---|---|---|
|||2019|Donations|Investments|Expenses|Transfers|2020|
|||f||f|f||f|
|Roxburgh<br>Trust||1,245,468||(32,951)|(6,473)||1,206,044|
|General Scholarship|Fund|953,317||(25,224)|(4,953)||923,140|
|McElwee||263,131||(6,962)|(1,368)||254,801|
|Mrs ML Capel-Cure||238,807||(6,319)|(1,241)||231,247|
|Friends ofStowe||221,322||(5,857)|(1,150)||214,315|
|Prize Funds - FOS General||204,576||(5,413)|(1,063)||198,100|
|prizes||||||||
|War Memorial||185,208||(4,901)|(963)||179,344|
|John Beamish||178,539||(4,725)|(928)||172,886|
|Late Thomas Waddell||158,935||(4,206)|(826)||153,903|
|Robert McDougall||37,820||(1,001)|(197)||36,622|
|Myles Henry||94,993||(2,514)|(494)||91,985|
|Samurai<br>Sword Bursary||77,874||(2,063)|(405)||75,406|
|John Wilson Memorial||71,444||(1,890)|(371)||69,183|
|Maj. Richardson<br>Haworth||65,874||(1,743)|(342)||63,789|
|Old Stoic Jubilee Bursary||54,708||(1,448)|(284)||52,976|
|Granville<br>Trust Bursary||50,696||(1,341)|(263)||49,092|
|Markland<br>Bursary||40,487||(1,071)|(211)||39,205|
|John David Syrett||37,896||(1,003)|(197)||36,696|
|Other Prize Funds||72,202||(1,910)|(376)||69,916|
|Funds under scheme|of|4,253,297||(112,542)|(22,105)||4,118,650|
|management||||||||
|Other Funds:||||||||
|Bobbie Butlin Scholarship||341,811||(9,043)|(1,776)||330,992|
|Dr Huggins<br>Music||339,460||(8,983)|(1,764)||328,713|
|Scholarship||||||||
|Scott —ichinose<br>Fund||294,078||(7,781)|(1,528)||284,769|
|Lewis Bequest<br>—Music||185,915||(4,920)|(967)||180,028|
|Lewis Bequest<br>—Roxburgh||185,915||(4,920)|(967)||180,028|
|Old Stoic||136,218||(3,603)|(708)||131,907|
|Leavers' Legacies||456,421|10,925|(12,251)|(2,406)||452,689|
|Bursaries General||1,918,261|980,476|(61,033)|(11,988)|(2S)|2,825,691|
|Stringer<br>Bursary||944,477|79,390|(27,090)|(5,321)||991,456|
|Max Ausnit Bursary||292,893||(7,750)|(1,522)||283,621|
|Founder's<br>Bursary||235,974||(6,244)|(1,226)||228,504|
|Berry Scholarship||100,639|100,000|(3,104)|(609)||196,926|
|John Farr Bursary||232,949||(6,164)|(1,211)||225,574|
|Other Bursary and Prize||242,386|384,990|(13,349)|(2,621)|63,446|674,852|
|Funds||||||||
|Total Other Funds||5,907,397|1,555,781|(176,235)|(34,614)|63,421|7,315,750|
|Total of Endowment|Fund|10,160,694|1,555,781|(288,777)|(56,719)|63,421|11,434,400|





## 

## 

||||At 31July|Investment||Investment|Outgoing|||At 31July|
|---|---|---|---|---|---|---|---|---|---|---|
||||2019|Income|Donations|Movements|Resources|Expenses|Transfers|2020|
||||f|f|f|f|f|f|f|f|
|Facilities —General|||2,570,829|16,188|4,548||(5,911)|||2,585,654|
|Swimming<br>Pool|||230,627|1,449||||||232,076|
|Science —Building|||5,011|28|4,170||(5,308)|||3,901|
|Security Lodge|||9,780|61||||||9,841|
|Golf Course|||92,192|490|180,000||(210,436)|||62,246|
|Golf Clubhouse|||48,843|307||||||49,150|
|Drayson Sports|Hall||152,808|1,380|161,994|||||316,182|
|Classrooms|||23,726|149||||||23,875|
|Choir Stalls for|Chapel||41,780|263||||||42,043|
|Stowe Putter|||21,865|137||||||22,002|
|Design, Technology||8|2,031,032|13,232|445,451|||||2,489,715|
|Engineering|||||||||||
|Fives Courts|||20,267|127||||||20,394|
|Bells|||12,337|78||||||12,415|
|New Sport pitches|||12,478|78||||||12,556|
|Drayson<br>lighting|||9,298|58||||||9,356|
|Counselling<br>Services|||6,108|83|19,005||(18,778)|||6,418|
|Girls Boarding|||7,518|47||||||7,565|
|Sports Facilities|||83,769|527|128|||||84,426|
|Chapel|||5,255|33||||||5,288|
|Eyton Art Fund|||6,253|39||||||6,292|
|Other Funds<br>&f5,000|||13,582|75|900||(2,986)||(2)|11,569|
|Total Facilities Funds|||5,405,358|34,829|816,196||(243,419)|||6,012,964|
|Scholarship<br>Funds|||425,944|252,358|30,125||(238,565)||(63,446)|406,416|
|Scholarship<br>Funds—|||1,802,468||589|(47,702)|—|(9,369)|25|1,746,011|
|Invested|||||||||||
|Total Scholarships|||2,228,412|252,358|30,714|(47,702)|(238,565)|(9,369)|(63,421)|2,152,427|
|Funds|||||||||||
|Total Restricted|Fund||7,633,770|287,187|846,910|(47,702)|(481,984)|(9,369)|(63,421)|8,165,391|