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|||Notes|Endowment|Restricted|Unrestricted|||
|---|---|---|---|---|---|---|---|
|INCOME AND ENDOWMENTS|||Fundsf|Funds<br>f|Fund<br>f|2022<br>f|2021<br>f|
|FROM||||||||
|Donations<br>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<br>management|costs||79,510|11,660|614|91,784|76,557|
|Charitable<br>activities:||||||||
|Scholarships,<br>bursaries<br>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)<br>on investments||||||||
|Net (Losses)/Gain<br>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<br>funds|||(88,290)|88,290||||
|Net movement<br>in funds|||666,669|(703,697)|69,147|32,119|4,182,025|
|Reconciliation<br>offunds||||||||
|Fund balances brought<br>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<br>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<br>by operating<br>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<br>on rolling|credit balances||||6,000,503|
|Increase/(Decrease)<br>in cash held for||investment||1,865,499|(6,369,940)|
|Income (not reinvested)/reinvested||||17,771|(4,884)|
|Net cash provided<br>by investing<br>activities||||(560,577)|(1,674,893)|
|Cash flows from financing|activities:|||||
|Receipt ofendowment||||1,615,081|1,676,195|
|Net cash provided<br>by financing<br>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<br>forward|||619,189|100,583|
|Cash and cash equivalents|carried forward|||638,985|619,189|





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## 

|Investment<br>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,<br>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<br>costs||||||7,800|6,300|
||Other support costs||||||15,627|10,235|
||||||||23,427|16,535|
||Governance<br>costs comprise an audit fee ofE7,800(2021:f6,300)||||and Trustee|expenses of nil (2021:nil).|||
|6|Investments||||||||
||Movement<br>in fixed asset|listed investments|||||2022|2021|
||||||||f|f|
||Market value brought<br>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<br>on cash balances (decrease)/increase||||||(1,865,499)|369,437|
||in cash held for investment||||||||
||Net investment<br>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<br>comprise:||||||||
||Quoted investments<br>and unit trusts||||||15,260,167|14,109,417|
||Cash instruments<br>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<br>comprise:||||||||
||Quoted investments<br>and unit trusts||||||13,209,054|10,995,369|
||Cash instruments<br>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|





|<br>As at31July 2022|<br>As at31July 2022|||||||
|---|---|---|---|---|---|---|---|
|10 Endowment<br>Fund||||||||
|Fund||At 31July||Loss on|||At 31July|
|||2021<br>f|Donations|Investments<br>f|Expensesf|Transfers|2022<br>f|
|Roxburgh<br>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<br>Haworth||71,342||(3,709)|(378)||67,255|
|Old StoicJubilee Bursary||59,249||(3,080)|(314)||55,855|
|Granville<br>Trust Bursary||54,904||{2,854)|(291)||51,759|
|Markland<br>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<br>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<br>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<br>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<br>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<br>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<br>&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<br>Funds||1,153,686|305,543|494,548|2.733|(635,324)|(213)|88,290|1,409,263|
|Scholarship<br>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<br>f|Income<br>f|Donations<br>f|Movements<br>f|Resources<br>f|Expenses<br>f|Transfers<br>f|2022<br>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<br>f|Income<br>f|Donations|Movements<br>f|Resources<br>f|Expenses<br>f|Transfers<br>f|2021<br>f|
|Facilities|||||||||
|Fund|3,179,676|473|3,623|(138)||(16,535)||3,167,099|



## 



## 

||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||f|f|
|Net movement<br>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<br>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<br>management||costs||66,897|9,660||76,557|
|Charitable<br>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)<br>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<br>funds||||||||
|Net movement|in funds|||3,108,145|1,086,457|(12,577)|4,182,025|
|Reconciliation|offunds|||||||
|Fund balances|brought<br>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<br>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<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<br>—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<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 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<br>f|Movements|Resources<br>f|Expenses|Transfers|2021<br>f|
|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,&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<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>&f5,000|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<br>Fund|8,165,391||256,624|1,177,171|216,442|(554,120)|(9,660)||9,251,848|