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2022-07-31-accounts

Notes Endowment Restricted Unrestricted
INCOME AND ENDOWMENTS Fundsf Funds
f		 Fund
f		 2022
f		 2021
f
FROM
Donations
and Legacies		 1,615,081 1,205,631 83,859 2,904,571 2,856,989
Investments 308,138 1,446 309,584 257,097
Total 1,615,081 1,513,769 85,305 3,214,155 3,114,086
EXPENDITURE ON
Raising funds:
Investment
management		 costs 79,510 11,660 614 91,784 76,557
Charitable
activities:
Scholarships,
bursaries
and prizes		 635,324 16,399 651,723 307,335
Facilities at Stowe School 1,574,080 7,028 1,581,108 263,320
Total 79,510 2,221,064 24,041 2,324,615 647,212
Net Income/(Expenditure) before 1,535,571 (707,295) 61,264 889,540 2,466,874
Gains/(Losses)
on investments
Net (Losses)/Gain
on investments		 6 (780,612) (84,692) 7,883 (857,421) 1,715,151
Net Income/(Expenditure) 754,959 (791,987) 69,147 32,119 4,182,025
Transfers between
funds		 (88,290) 88,290
Net movement
in funds		 666,669 (703,697) 69,147 32,119 4,182,025
Reconciliation
offunds
Fund balances brought
forward		 14,542,545 9,251,848 3,167,099 26,961,492 22,779,467
Fund balances carried forward 9-12 15,209,214 8,548,151 3,236,246 26,993,611 26,961,492
Notes 2022 2021
f f
Fixed assets
Investments and cash awaiting investment 26,339,374 26,326,634
Current Assets
Debtors 33,746 30,368
Cash at bank 638,985 619,189
Creditors: Amounts falling due within 1year (18,494) (14,699)
Net current assets 654,237 634,858
Total assets less current liabilities 26,993,611 26,961,492
NET ASSETS 26,993,611 26,961,492
Accumulated funds:
Endowment Fund 10 15,209,214 14,542,545
Restricted
Fund		 11 8,548,151 9,251,848
Unrestricted Fund 12 3,236,246 3,167,099
TOTAL FUNDS 26,993,611 26,961,492
Total Funds Prior Year
Note 2022 2021
f
Net cash provided
by operating
activities		 14 (1,034,708) 517,304
Cosh flows from investing activities:
Interest and Dividends 309,584 257,097
Proceeds from sale ofinvestments 3,824,207 3,023,859
Purchase ofinvestments (6,577,638) (4,581,528)
Net movement
on rolling		 credit balances 6,000,503
Increase/(Decrease)
in cash held for		 investment 1,865,499 (6,369,940)
Income (not reinvested)/reinvested 17,771 (4,884)
Net cash provided
by investing
activities		 (560,577) (1,674,893)
Cash flows from financing activities:
Receipt ofendowment 1,615,081 1,676,195
Net cash provided
by financing
activities		 1,615,081 1,676,195
Change in cash and cash equivalents in the year 19,796 518,606
Cash and cash equivalents brought
forward		 619,189 100,583
Cash and cash equivalents carried forward 638,985 619,189

Investment
Income
2022 2021
Unrestricted
Restricted Funds Fund Total Total
Scholarship,
Bursary and
Prize Funds Facilities Fund
Dividends 305,441 2,067 1,152 308,660 255,632
Interest received 102 528 294 924 1,465
305,543 2,595 1,446 309,584 257,097
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
255,707 917 473 257,097 304,370
2022 2021
f f
Investment management fees 91,784 76,557
91,784 76,557
Analysis of charitable expenditure
Support
and
Grant funded governance
activity costs 2022 2021
f f f f
Scholarships, Bursaries and Prizes 635,324 16,399 651,723 307,335
Facilities 1,574,080 7,028 1,581,108 263,320
2,209,404 23,427 2,232,831 570,655
Support Support
and
Grant funded governance
activity costs 2021 2020
f E f E
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 governance costs are broken down as follows:
2022 2021
f f
Governance
costs		 7,800 6,300
Other support costs 15,627 10,235
23,427 16,535
Governance
costs comprise an audit fee ofE7,800(2021:f6,300)		 and Trustee expenses of nil (2021:nil).
6 Investments
Movement
in fixed asset		 listed investments 2022 2021
f f
Market value brought
forward		 26,326,634 22,679,493
Purchase ofinvestments 6,577,638 4,581,528
Proceeds from disposal ofinvestments (3,824,207) (3,023,859)
Net movement
on cash balances (decrease)/increase		 (1,865,499) 369,437
in cash held for investment
Net investment
market value (decrease)/increase		 (857,421) 1,715,151
Income (not re-invested)/re-invested (17,771) 4,884
Market value at 31July 26,339,374 26,326,634
Investments
comprise:
Quoted investments
and unit trusts		 15,260,167 14,109,417
Cash instruments
and cash awaiting		 investment 11,079,207 12,217,217
26,339,374 26,326,634
Historical value at 31July 22,856,926 18,966,662
Investments
comprise:
Quoted investments
and unit trusts		 13,209,054 10,995,369
Cash instruments
and cash		 awaiting investment 9,647,872 7,971,293
22,856,926 18,966,662

7 Debtors
2022 2021
f f
Tax recovery on Gift Aid donations 27,330 27,848
Dividend Income 6,416 2,520
33,746 30,368
8 Creditors: Amounts falling due within one year
2022 2021
f. f
Other creditors and accruals 18,494 14,699
18,494 14,699
9 Analysis ofNet Assets
Scholarship Facilities
Endowment Restricted Restricted Unrestricted 2022
Funds Funds Funds Fund Total
f f f f f
Investments 15,596,282 3,144,192 4,716,447 2,882,453 26,339,374
Debtors 2,238 22,090 9,141 277 33,746
Cash at Bank (389,306) 85,153 571,128 372,010 638,985
Creditors due within 1year (18,494) (18,494)
15,209,214 3,251,435 5,296,716 3,236,246 26,993,611
Scholarship Facilities
Endowment Restricted Restricted Unrestricted 2021
Funds Funds Funds Fund Total
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

As at31July 2022
As at31July 2022
10 Endowment
Fund
Fund At 31July Loss on At 31July
2021
f		 Donations Investments
f		 Expensesf Transfers 2022
f
Roxburgh
Trust		 1,348,848 (70,124) (7,143} 1,271,581
General Scholarship Fund 1,032,446 (53,675) (5,467) 973,304
McElwee 284,972 (14,815) (1,509) 268,648
Mrs ML Capel-Cure 258,629 (13,446} (1,370) 243,813
Friends ofStowe 239,691 (12,461) {1,269) 225,961
Prize Funds - FOSGeneral 221,556 (11,518) {1,173) 208,865
prizes
War Memorial 200,580 (10,428) (1,062) 189,090
John Beamish 193,357 (10,052) (1,024) 182,281
Late Thomas Waddell 172,126 (8,949) (911) 162,266
Robert McDougall 40,958 (2,129) (214) 38,615
Myles Henry 102,877 (5,348) (545) 96,984
Samurai Sword Bursary 84,335 (4,385) (447) 79,503
John Wilson Memorial 77,374 (4,023) (410) 72,941
Maj. Richardson
Haworth		 71,342 (3,709) (378) 67,255
Old StoicJubilee Bursary 59,249 (3,080) (314) 55,855
Granville
Trust Bursary		 54,904 {2,854) (291) 51,759
Markland
Bursary		 43,847 (2,280} (232) 41,335
John David Syrett 41,041 (2,134) (217) 38,690
Other Prize Funds 78,194 (4,065) (414) 73,715
Funds under scheme of 4,606,326 (239,475) (24,390) 4,342,461
management
Other Funds:
Bobbie Butlin Scholarship 370,184 (19,245) (1,960) 348,979
Dr Huggins
Music Scholarship		 367,635 (19,113) (1,947) 346,575
Scott - Ichinose Fund 318,488 (16,558) (1,687) 300,243
Lewis Bequest - Music 201,344 (10,468) (1,066) 189,810
Lewis Bequest - Roxburgh 201,344 (10,468} {1,066) 189,810
Old Stoic 147,525 P,670) (781) 139,074
Leavers' Legacies 506,609 50 (26,340) (2,683) 477,636
Bursaries General 1,191,706 313 (61,967) (6,312) 1,123,740
Stringer Bursary 1,108,851 (57,647) (5,872) 1,045,332
Max Ausnit Bursary 317,204 151,113 (19,382) (1,974} (88,290) 358,671
Founder's
Bursary		 255,560 (13,286) (1,353) 240,921
Berry Scholarship 323,203 100,000 (18,103) (1,844) 403,256
Change 100 3,342,693 793,478 (188,818) (19,234} 3,928,119
Tufton Bursary 264,801 (13,767) (1,402) 249,632
John Farr Bursary 256,520 (13,336) (1,358) 241,826
Patricia Roxburgh
Bursary		 449,414 (1,946) (198) 447,270
Jeremy Nichols Bursary 114,393 (3,249) (331) 110,813
Other Bursary and Prize 762,552 6,320 (39,774} (4,052) 725,046
Funds
Total Other Funds 9,936,219 1,615,081 (541,137) (55,120) (88,290) 10,866,753
Total of Endowment Fund 14,542,545 1,615,081 (780,612) (79,510) (88,290) 15,209,214

At 31July Investment Investment Outgoing At 31July
2021 Income Donations Movements Resources Expenses Transfer 2022
f f f f f f f
Facilities —General 2,466,887 920 40,419 5,015 (1,029,740) (391) (8,965) 1,474,145
Swimming
Pool		 232,111 105 571 (44) 232,743
Science —Building 1,044 (10,009) 8,965
Security Lodge 9,842 (2) 9,868
Golf Course 2,350 (2,349) (1)
Golf Clubhouse 49,157 (49,157)
Drayson Sports Hall 346,230 161 54,997 875 (68) 402,195
Classrooms 23,879 11 59 (5) 23,944
Choir Stalls for Chapel 42,049 19 103 (8) 42,163
Stowe Putter 22,005 10 54 (4) 22,065
Design, Technology 8 2,521,497 1,285 371,509 7,006 (545) 2,900,752
Engineering
Fives Courts 20,397 9 50 (4) 20,452
Art School 10,819 5 150 27 (2) 10,999
Bells 12,417 6 31 (2) 12,452
New Sport pitches 12,558 6 31 (2) 12,593
Drayson
lighting		 9,357 4 23 (2) 9,382
Girls Boarding 7,566 3 19 (1) 7,587
Sports Facilities 84,567 38 117 208 (16) 84,914
Chapel 5,289 2 13 (1) 5,303
Eyton Art Fund 6,293 4 11,625 23 (2) 17,943
Sixth Form Centre 250,005 125,000 (374,983) 22
Climate Change Event 116,000 (116,000)
Other Funds
&f5,000		 8,400 625 17 (1,851) 7,193
Total Facilities Funds 6,144,719 2,595 710,433 14,149 (1,574,080) (1,101) 5,296,715
Scholarship
Funds		 1,153,686 305,543 494,548 2.733 (635,324) (213) 88,290 1,409,263
Scholarship
Funds—		 1,953,443 650 (101,574) (10,346) - 1,842,173
Invested
Total Scholarships 3,107,129 305,543 495,198 (98,841) (635,324) (10,559) 88,290 3,251,436
Funds
Total Restricted Fund 9,251,848 308,138 1,205,631 (84,692) (2,209,404) (11,660) 88,290 8,548,151

At 31July Investment Investment Outgoing At 31July
2021
f		 Income
f		 Donations
f		 Movements
f		 Resources
f		 Expenses
f		 Transfers
f		 2022
f
Facilities
Fund 3,167,099 1,446 83,859 7,883 (23,427) (614) 3,236,246
At 31July Investment Investment Outgoing At 31July
2020
f		 Income
f		 Donations Movements
f		 Resources
f		 Expenses
f		 Transfers
f		 2021
f
Facilities
Fund 3,179,676 473 3,623 (138) (16,535) 3,167,099

2022 2021
f f
Net movement
in		 funds 32,119 4,182,025
Deduct gift ofendowment (1,615,081) (1,676,195)
Deduct interest income shown in investing activities (309,584) (257,097)
Add back gains on investments 857,421 (1,715,151)
Decrease/(increase) in debtors (3,378) (18,289)
Increase/(decrease) in creditors 3,795 2,011
Net cash (used in)/generated from operating activities (1,034,708) 517,304
15 Analysis ofchanges in net debt
At 1August At 31July
2021 Cash flows 2022
f f f
Cash and cash equivalents
Cash 619,189 19,796 638,985
619,189 19,796 638,985

Notes Endowment Restricted Unrestricted
Funds Funds Fund 2021
INCOME AND ENDOWMENTS f f f f
FROM
Donations
and Legacies		 1,676,195 1,177,171 3,623 2,856,989
Investments 256,624 473 257,097
Total 1,676,195 1,433,79S 4,096 3,114,086
EXPENDITURE ON
Raising funds:
Investment
management		 costs 66,897 9,660 76,557
Charitable
activities:
Scholarships, bursaries, and prizes 295,760 11,575 307,335
Facilities at Stowe School 258,360 4,960 263,320
Total 66,897 563,780 16,535 647,212
Net Income/(Expenditure) before 1,609,298 870,015 (12,439) 2,466,874
Gains/(Losses) on investments
Net Gains/(Losses)
on investments		 6 1,498,847 216,442 (138) 1,715,151
Net Income/(Expenditure) 3,108,145 1,086,457 (12,577) 4,182,025
Transfers between
funds
Net movement in funds 3,108,145 1,086,457 (12,577) 4,182,025
Reconciliation offunds
Fund balances brought
forward		 11,434,400 8,165,391 3,179,676 22,779,467
Fund balances carried forward 9-12 14,542,545 9,251,848 3,167,099 26,961,492
Fund At 31July Gain on At 31July
2020 Donations Investments Expenses Transfers 2021
E f f E
Roxburgh
Trust		 1,206,044 149,475 {6,671) 1,348,S48
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,S86 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
Haworth		 63,789 7,906 (353) 71,342
Old StoicJubilee Bursary 52,976 6,566 (293) 59,249
Granville
Trust Bursary		 49,092 6,084 (272) 54,904
Markland
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
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' 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 Bursary 283,621 35,152 (1,569) 317,204
Founder's
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 ofEndowment Fund 11,434,400 1,676,195 1,498,847 (66,897) 14,542,545

At 31July Investment Investment Outgoing At 31July
2020 f Incomef Donations
f		 Movements Resources
f		 Expenses Transfers 2021
f
Facilities —General 2,585,654 384 48,436 (167,587) 2,466,887
Swimming
Pool		 232,076 35 232,111
Science —Building 3,901 1 4,170 (7,028) 1,044
Security Lodge 9,&41 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 8 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
lighting		 9,356 9,357
Counselling
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
&f5,000		 7,776 624 8,400
Total Facilities Funds 6,012,964 917 389,198 (258,360) 6,144,719
Scholarship
Funds		 406,416 255,707 787,323 (295,760) 1,153,686
Scholarship
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