Charlty Reglstratlon Number: 1080765
The Roger Newport Foundation
Report and financial statements
for the year ended 31 December 2021

The Roger Newport Foundation
Annual report and financial statements
for the year ended 31 December 2021
Contents
Pagv
Report of the Trustee
Independenl auditor's report to the Trustee of The Roger Newport FoundalK
Slalemenl of financial aclivites
12
Baance sheet
Principal accounting policies
Notes lo the financial statements
14
16

Report of the Trustee
for the year ended 31 December 2021
The Trustee presents ils report and audited financial ststemenls for The Roger Newport Foundation {"Ihe
charily") for the year ended 31 December 2021.
The financial slalemenls comply with current slatulory reqU1￿MentS. the governing instruments and the
Statement of Recommended Practice {SORP}"Acc(MJnling and Reporting by Charities" issued in 201 g.
Trustee. officers and advisers
The Trustee of the charity is SMV Trustee Company Limited.
Listed below are those members who have served on the Board of SMV Trustee Company Limited during
the year..
David Freed
Patrick Despard
Micttael Bolhamley
Gillian Camm
Ross Ancdl
Charles Griffrths
Tony Kenny
Cullum Mcmpine
John Walson
Gail Bragg
Aan Lewis
Robert Boums
Mohammed Saddiq
Jonalhon Baker
Andrew Nisbel
Martin Thatcher
Roderick Davidson
Steve Allpress
Nick Baker
Kad Tucker
Kalharine Finn
(Deceased 03 June 20211
{Relired 10 Novefflber 2021)
{Relired 10 November 2021)
(Retired 10 Novemi*r 2021)
(Relired 10 November 2021)
(Retired 10 November 2021}
(Appointed 10 November 20211
(Appointed 10 NoverTbber 20211
(Appointed 10 NoverTbber 20211
(Appointed 10 November 20211
Registered address of the Charity
Merchants, H811
The Promenade
Clifton
Bristol BS8 3NH
Charity Numbor: 1080765

Report of the Trustee
for the year ended 31 December 2021
Names and addresses of other relevant organisations
Auditor
KPMG LLP. 66 Queen Square. Bristol. BS14BE
Banker
Nalwesl Bank plc. 32 Com Street. Bristol. BS99 7UG
Solicltor
wom1￿e Bond DiCk￿$0n (UK) LLP. 3 Tern￿e Quay, Temple Back East, Bristol. BS16DZ
Investment Manager
Evdyn P&tners Investrnent Management LLP. Pcthial Place. Poriwall Lane. Bristol. BS16NA
Reference and administrative information
Structure, govemance and management
GovernSng document
The Roger Newport Foundation is a registered charity (charity no 1080765) and is governed by a Trust
Deed daleil 1 March 2000.
GovernSng body and organlsatlonal managemenl
The Trustee of the Charity is SMV Trustee Company Limiled. a company limited by guarantee. All the
members of the Society of Merchant Venlurers. Standing Committee are Directors of SMV Trustee
Company Limited.
The Trustee meets regularly and periodically feviev*S the operation and financial results of the Charity.
Assisting the Tnjslee are the Roger Newport Advisory Committee. the Investment Strategy Group, the
Finance and Investment Sub-committee and the Confflicts of Interest Advisory Sub-commillee.
The Roger New￿￿ Advisory Committee manages the charity on behatf of the Trustee and considers Ihe
level of bursaries and prizes lo be awarded lo pupils al the Collegiate School Iformerly Colslon's School)
against the level of surplus funds lo be invested in acwdance with the Founder's wishes. Members of the
Committee who served during the year were".
Chris Booy (Chairl
Nick 8aker
Karen Morgan
Kathryn 8ishop (appointed 10 November 2021)
Caroline Duckworlh
Jeremy Mccullough (Ex Officio. Headleacher)
The Conflicls of Interest Advisory Sub£ommillee was establishe(J in 2021 and comprises of two individuals
with no conneclion lo either SMV or SMV TCL who can advise on areas where a conflict of interest might
arise.
As detailed in note 10, Ihe Society of Merchanl Venlurers provided adminislralive services lo the charities
of which SMV TCL was Iruslee and las permilled by the Charity Commission) made a charge for these.
The Conflicts of Inleresl Advisory Sub-commillee has reviewed these charges and made a
recommendation lo the board of SMV TCL Ihal the t￿poSed charges are. {in the opinion of the members
of the Sub-commilleel appropriate.

Report of the Trustee
for the year ended 31 December 2021
Goveming body and organlsatlonal management {conlinuedl
The Trustee has delegated lo Ihe Investment Strategy Group management of Ihe assel allocation and the
investment strategy on an annual basis taking into account the recommendats'ons from the Finance and
Investment Sub-commillee, past and projecled inveslment performance and fulure capiia5 and revenue
requirements. The members of the Inveslment Strategy Group vkno served durirMJ Ihe year were."
Alan Lewis (Chairman)
David Freed
Palrick Despard
Michael Bolhamley {Appoinled 10 November 20211
Tim Ross
Ross Ancell
Cullum McAlpine
Geoff Mallhews
Chris Pople
Dr Steve Alpress
Caroline Duckworth
Gillian Camm (Relired 10 November 2021 }
Giles Clarke (Relred 10 November 2021)
The TTuslee has delegaled lo the Finance and Investment Sub-commillee management of the financial
asset investment porrfolio., the appointment of approprkqle Fund Managers and monitoring their
performance,. and lo recommend lo the Investment Sirale9y Group the optimum strategy for financial
inveslmenl. The members of Ihe Finance and Investment Sub-committee who served during the year
were..
Dr Steve Allpress {Chaimian)
David Freed
Patrick Despard
Michael 8olhamley
Alan Lewis
Tim Ross
Ross Ancell
Cullum McAlpine
Geoff Mallhews
Chris Pople
Caroline Duckworth
Gillian Camm IRelired 10 Noven7ber 20211
Giles Clarke {Relired 10 November 2021 }
Recruitment and trainlng of the Trustee
The members of the Board of SMV Trustee Company Limited are elected annually from wilhin the
membership of the Society and are appfised of the general duties of a trustee. In Ihe evenl of significant
changes lo legislation or best pract￿e. further relevant training is urmlertaken.
The members of the Investment Strategy GrcMJP and Finance & Investment Sub-commillee Ixing with them
skills and experience of the financial investment sector. Members of the Roger Newport Advisory
Committee reflect the Trustee's interest in educab'on and possess the experien￿ to meet the objects of
the Foundation.

Report of the Trustee
for the year ended 31 December 2021 (continued)
Risk Management
In I￿h1 of the c￿(￿ale Governance ￿lda￿e contained within the Statement of Recommended Practice
'Accounling and Reporting by Charities", the Tnjstee has examined the major risks faced by the charity.
The Trustee continues to monitor and manage onwing risks relating to areas such as the achievement of
the charitable objects and Ihe protection of the charity's assets. Systems are in place to W￿nitOr and control
these risks lo miligale the impact that they may have on the charity in the future.
The Society of Merchant Venturers. Audit Committee is responsible for assessing the scope and
effectiveness of the systems and processes esta￿1Shed by managemenl lo idenlrfy, assess, manage and
monilor the financial and non-financial risks. The risk fegisler is reviewed and updated as required and on
a bi-annual basis by Managemenl and by the Merchant Venlurers, Audit Committee and is noted by the
Trustee.
The Charity is reliant on the income from ils investments lo enable il to fund bursaries and prizes in the
furtherance of ils charilatAe objeclNes. The charity does however have reserves in significant excess of ils
annual expenditure and Iherefore rf required il could meet expenditure from these reserves.
Objectives and activities
The Trustee confirms that il has referred lo the guidance contained in the Charity Commission's general
guidance on public benefit reviewing the charity's aims arHd objectives and in planning future activities.
Objects of the Foundation
The object of the Foundation is the advancefflenl of education by the creation of bursaries or Prizes lo be
awarded lo children who wsh lo attend the Collegiate Sch(K)I Ifofmerly Colslon's School). Slaplelon. Bristol
bul would nol otherwise be able to do so wilhoul financial as51slance. This object has been mel during the
year.
[￿rIng 2022 following a consullalion process the Governors of Colslon's School announ(*d that, from
Seplember 2022, the school's new name will be Collegiate, or Collegiate School. Bristol. The trustee has
therefore adopted the Collegiate naffle for these financial staternents.
Achievements and Perforniance
The Truslee is pleased lo report that the Foundation continued lo meet ils objects during the year by
pledging £g).672 12020.. £50,603) for bursaries for pupils al the ColWiale School (formerty Colslon's
School).
Financial review
Over seven billion COVID-19 vaccines were administered worldwide in 2021. helping lrfe lo return lo a
semblance Df normality. This helped lift real GDP by S.gilJ¢, the fastest growth rale in over 40 years.
Economic recovery drove optimism back into risk a5sels. Companies ddivered stron9 earnings growth
despite the pandemic lingering. Inflation was pushed higher by accommodative F)olicy and penl-up demand
al a lime when global supply chains We￿ disrupted. and labour markets slrelched. The lolal return of the
investment portfolio in the year was a gain of 14.64% versus the composrte benchmark of 12.73%12020'.
4.08•A versus the Composite benchmark of 1.9%1.
The charity generated nel operating deli￿1 of (£15,910) for 2021, this compared to an operating surplus of
£17.431 in 2020.
Investment policy
The investment portfolio is of medium risk and has an emphasis on investments considered lo have longer
term growth potential with less regard for current income_ The portfolio is monitored against the MSCI AII
Share index as well as a composite index comprising 20% Mkt iBoxx Gill. 55% Ff Ai Share, 20Q/o MSCI
World EX-UK, 5% 3M LIBOR.

Report of the Trustee
for the year ended 31 December 2021 (continued)
Reserves policy
In accordance with the Founderfs wishes. the Trustee aims to steadily grow the lund via a combination of
capital growth and reinveslmenl of income. whilst providing a reliable income stream lo meet the charity's
objectives. The policy is reviewed by the Truslee on an annual basis. Al 31 December 2021 Ihe urwestricled
funds were £3,634,465. Al 31 December 2021 there were net current assets of £198,574.
Going concem
The financial slalemenls have been prepared on a ￿Ing L￿￿ern basis which the Truslee cortsiders lo be
appropriate fix the following reasons.
The Trustee has prepared cash flthv forecasts fLY a period of 12 months frorn the date of appyoval of these
financial slalemenls Vth￿h indute that. taking actount of reasonabty possible downsides. the charty will have
sufficient funds lo meet ils liabilrties as they fau due fLY that
The downside scenar*)s conS￿ered by the TnJsl& indude a situation where income is signrficanlly reduced.
The charity has current assets considerably in excess of ils liabilities and. even with a significant fall in income,
has sufficient resources lo meet ils liabilrties as they fall due throughout the forecast period.
Consequentty, the Trustee is confident that ihe charity have suffi￿nI fuThJs lo meet its liabilit￿ as they fall
due for al least 12 months from the date of approval of the financial slalemenls aThJ therefo￿ has prepared the
financk81 statements on a going co￿eM basis.
Future plans
11 is the intention of the Trustee lo continue to invest Surplus funds in a managed portfolio with Tilney Smith
and Willi3mson Investment Management. The portfolio will be managed on a discretionary basis to provide
a balanced return between longer lemi capitsl growth and current income with a medium level of risk.
In order lo award bursaries and prizes. the Trustee aims to provide a sustainable income stream which is
capable of growing in real terms. This income will. in accordan￿ with the Founder's wishes, be primarily
used lo provide bursaries to Sixth Fomi wpils wishing lo attend the Collegiate School Iformerly Colslon's
sehooll.

Report of the Trustee
for the year ended 31 December 2021 (continued)
Accounting and reporting responsibilities
Ststement of Trnstee's r•sponslbllitles In respect of the Trustee's Annual Report and the financlal
statements
Under ¢harily law. the Iruslee is responsible f(K preparing the Trustee's Annual Reporl and the financial
slalemenls in accordance with applicable law and regulations. The trustees are required to prepare the
financial statements in accordance with UK Accounting Standards. including FRS 102 The Financial
Reportirw Standard applicable in the UK arKI RepublK of Ireland.
The financial slalemenls are required by law lo give a Irue and fair view of the slate of affairs of Ihe charity
and of the incoming resources and application of resources for Ihal period.
In preparing these financial slatemenls. generally accepted accounlirKJ practi￿ entails Ihat the trustee..
5elecls suitable accounling t￿1cleS and then apply them consistenlly-,
makes judgements and eslimales that are reasonable and pnJdenl.'
slates whelher applicatAe UK Accounting StaF)dards and the Statement of Recommended Practice
have been follr)wed, subject to any mater￿1 departures disdosed and explained in the financial
slalemenls.,
slates whether the financial slalements comply with the trust deed land rulesl, subject lo any
material departures disdosed and explained in the financial slalemenls-
assesses the charity's ability lo ¢J)nlinue as a going concem. disdosing. a5 applicable. mallers
related lo going concern.. arml
uses the going concern basis of accounting unless Ihey either intend lo liquidate the charity OT to
cease operations, or have no realistic allemalive bul lo éo so.
The Iruslee is required lo act in accordan￿ wlh the trusl deed of the charity. within the framework of trust
law. They are responsible for keeping accounting records which are sufficient lo show and explain the
charity's transactions and disdose al any lime. with reasonable accuracy. the financial position of the charity
al that lime, and lo enable the Injslees lo ensure thal. where any slalemenls of accounts are prepared by
them under section 132111 of the Charities Act 2011. those slalemenls of accounts comply with the
requirements of regulations under that provision. They are responsible for such Internal control as they
determine is necessary lo enable the preparation of financial slalements that are free from material
misslalemenl. whether due lo fraud Of error. and have general responsibility for taking such steps as are
reasonably open to them lo safeguard the assets of the charity and lo prevent and delect fraud and other
irregularities.
Signed for and on behalf of ihe Trustee
Davld Freed, Director
Merchants, Hall, The Promenade. Clifton. Bristol, BS8 3NH
Date.. 1% Xak

Independent auditor's report to the Trustee of The Roger Newport
Foundation
Opinion
We have audited Ihe financial slalements of The Roger Newport Foundation {"the charity"} for the year
ended 31 December 2021 which comprise the slalement of financial activities, balance sheet and relate
notes, including the accounting poliryes on pages 14 to 15.
In our opinion the financial slalemenls".
give a true and lair view of the slate of ihe charity s affairs as at 31 De￿rnI￿r 2021 and of ils incoffling
reSoUr￿S and application of resources for the year then ended,.
have been property prepared in accordance wth UK accounting standards. indudin9 FRS 102 The
Fin8nctsl Reporting Stsndard spplicable in Ihe UK and Republic of IrelanLI". and
have been propedy wep*ed in accordance wth the requirements of the Charities Act 2011.
Basis for opinion
We have been appointed as auditor under section 145 of the Charilies Act 2011 lor ils predecessors) and
report in accordance with regulations made under sectson 154 of that Act.
We conducte(l our audit in accordance ￿th Intemalional Standards on Auditing (UK) I'ISAS IUKI") and
applicable law. Our responsibilities are described below. We have fulfilled our ethical reswnsibililies
under, and are independent of the Charity in accordance with. UK ethical requirements including the FRC
Ethical Standard. We believe that the audit evidence we have obtained is a Suff￿lent and appropriate basis
for our opinion.
Going concem
The Iruslees have prepared the finanaal stalemenls on the wing concem basis as they do not intend lo
I￿￿ldate the charity or to cease ils operations. and as they have concluded that the charity's financial
position means that this is realistic. They have also condude(I that there are no material uncerlainlies that
could have cast s￿nifICant (Joubl over tts ability lo continue as a wing concern for al least a year from the
dale of approval of the financial statements I"Ihe going concern period").
In our evaluation of the tNslees' conclusions. we Considered the inherent risks lo the charity's business
model and analysed how those risks might affect the chaws financial resources or abilty lo continue
operations over the going concern period.
Our conclusions based on this work..
we consider that the Iruslees. use of the going concem basis of accounting in the preparation of the
financial sialemenls is appropriale..
we have rK)l identified. and concur with the trustees. assessment that there ts not. a material uncertainly
related to events or conditions that. individually or collectively. may cast s*Jnificanl doubl on the
chafity's ability lo continue as a g)ing concern for Ihe going concern period.
However. as we cannot predicl all fvlure evenls or conditions and as subsequent events may result in
outcomes that are inconsistent with judgemenls Ihal were reasonable al Ihe time they were made, the
above conclusions are not a guarantee Ihal the charity wll continue in operation.
Fraud and breaches of laws and regulation$- ability to detect
Identifying and responding lo risks of material misslalemenl due lo fraud
To identify Ti$ks of material fflisslalement due to fraud l-fraud risks") we 8ssessed events or conditions that
c(MJld indicale an incentive or pressure lo commrt fraud or provmle 8n opportuniiy lo commit fraud. Our risk
assessment procedures included.
Enquiring of management as lo the charTty'5 high4evel w)licies and procedures to prevent and delecl
fraud as well as whether they have kno%•Aedge of any actual. suspected or alleged fraud.
Reading Standing Comwnillee. audrt commiilee, and investment commillee meeting minutes.
Using analytical procedures lo idenirfy any unusual or unexpecled year on year movements.
We communicated identified fraud risks throughout the audit team and remained alert lo any indications of
fraud through¢￿1 the audrt.

Independent auditor's report to the Trustee of
The Roger Newport Foundation (continued)
As required by auditing standard5, and taking into account our overall kr)owledge of the control environment
we perform procedures lo address Ihe risk of management override of controls and the risk of fraudulent
revenue recognition, in particular the risk that management may be in a FK)silion lo fflake inappropriate
accounling entries.
We did not idenlrfy any additional fraud risks.
In determining the audit wocedures we took into aceounl the results of our evaluation and lesling of the
operating effectiveness of some of the fraud risk management controls.
We also perfomied procedures I￿luding".
SubslantNe lesling of investment income and a￿eement to supporting evidence.
Identifying and responding to risks of maferMI misstalement due lo non-compliance with laws and
r&gulations
We identified areas of laws and fegulalions that could reasonably be expecled to have a material effect on
the financial statements from our general commercial and sector experience and discussed with the
directors and other management the pdiues and wocedures regarding compliance with laws and
regulations.
As the Charity is regulated, our assessment of risks involved gaining an understanding of the control
environment including the enlity's procedures for complying with regulatory requirements.
We communicated idenlrfied laws and regulations througl)oul our leam and remained alert to any
indicalions of non-compliance throughout the audit.
The potential effect of these laws and regulalÈons on the financial ststemenls varies considerably.
Firstly, the Charity is subject to laws and regulations that direcuy affect the financial slalemenls including
financial reporting legislation (including charities legislalionl and taxal￿n legislatson and we assessed the
exlenl of compliance with these laws and regjlalions as part of our procedures on the related financial
slatemenl items.
Secondly, the Charity is suty.ect lo many other laws and regulations where the consequences of non-
compliance could have a material effect on amounts or disdosures in the financial slalements. for instance
through the imtiosilion of fines or litigation. We idenlffjied the following areas as those most likely to have
such an effeel.. certain aspects of charity legislation recognising the financial and regulated nature of the
Charity's activities and ils legal form. Auditing standards limit the required audit procedures to identrfy non-
Complian￿ with these laws and regulations to enquiry of the directors and other management and
inspection of regulatory and legal Co￿eSpOndente. rf any. Therefore rf a breach of operational regulations
is not disdosed lo us or evident from relevant corresponden￿. an audit will not delect that breach.
Context of the ability of the audit lo detect fraud or breaches of law or regulation
{￿ing lo the inherent limitations of an audit, there 15 an unavoidable risk that we may not have detected
some material misslatemenls in the financial statements. even though we have propedy planned and
performed our audit in aecordanee with auditing standards. For example. the further removed non-
compliance wlh laws and regulations is from the events and transactions reflected in the financial
slalemenls. the less likely the inherently limited procedures required by auditing standards would identify
In addition. as with any audr(, there remained a higher risk of non-deleclion of fraud, as these may involve
c(Alusion, forgery, intentional omissions. misrepresenlalions, or the override of internal controls. Our audit
procedures are designed to delect material misstatement. We a￿ nol responsible for preventing non-
compliance or fraud and cannot be expected lo detect I￿n-CoMplian¢e with all L3ws and regulalw)ns.
Other information
The Iruslee is responsible for the other inforrnalion. which comprises the Report of the Trustee. Our opinion
on the financial slalemenls does not cover the other infonnalion and. accordingly. we do not express an
audit opinion or. except as eXp￿1¢1￿Y slated below. any form of assurance conclusion thereon.
10

Independent auditor's report to the Trustee of
The Roger Newport Foundation (continued)
Our responsibility is lo read the other irrforfflalion and. in doing so, consider whether, based on our financial
statements audit work, the informalion therein is materially misstated or inconsislenl wilh the financial
statemen15 or our audit knovledge. We are requ*ed lo re￿rt lo you rf:
based solely on that Wc￿k, we have identified material misslalements in the olher information., or
in our opinion. Ihe Informal￿n given in the Report of the Trustees is irwnsi$tenl in any material respect
with the financial slaternenls.
We have nothing lo reporl in these respects.
Matters on which we are requiied to report by exception
Under the Charities Act 2011 we are required lo report lo you rf. in our opinion=
the charity has not kept sufficient accounting records-. or
the financial slalemenls are not in agreement 4Mlh the aC￿untIng records.. or
we have not received all the informalion and explanatws we require for our avdil.
We have nothing lo report in these respects.
Trusteg5' responsibllitles
As explained more fully in their slalemenl sel out on page 8. the trustees are responsible for.. the preparation
of financial slalemenls which give a Irue and fair view., such internal conlrol as they determine is necessary
to enable the preparation of financial statements Ihal are free from material misstalemenl. whether due lo
fraud or error: assessing the charity s ability lo conlinue as a going concem, disclosing, as applKable,
mallers related to going concern., and using the going concem basis of accounting unless they either intend
to liquidate the charity or lo cease operations. or have no realistic allemalNe bul lo do so.
Audltor's responsSbilities
Our objectives are lo obtain reasonable assurance about whelher the finanoal 51alemenls as a whole are
free from malerial misstslement, whether due lo fraud or error. and to issue our opIn￿n in an auditor's
report. Reasonable assurance is a high level of assurance bul does not guarantee that an audit conducted
in accordance wilh ISAS IUKI will always detecl a malerial misslalemenl when il exists. Misslalemenls can
arise from fraud or errof and are consKJered material if, indNidually or in aggregate, they could reasonably
be expected lo influence the econom￿ decisions of users taken on the basis of the financial slatemenls.
A fuller desuiplion of our responsibil￿"eS
www.frc.of .uklauditorsres
nsibililies.
is
provided
the FRC'S website at
The purpose of our audlt work and to whom we owe our responslbllltles
This report is made solely to the charity s Iruslees as a brxly, in accordance with section 145 of the Charities
Act 2011 lor rts predecessors) and regulations made under seclion 1 $4 of that Act. Our audit work has
been underlaken so that we might stale to the charity's Iruslees those matters we are required lo slate lo
them in an auditor's repofl and for no olher purpose_ To the fullest exlenl pemiilled by law, we do not
accept or assume responsibility lo anyone other than the charity and its Iruslees as a body, for our audit
work. for this report. or for the opinions we have fomied.
Jonathan Brown
for and on behalf of KPMG LLP. Stat￿ory Audltor
Chartered Accountants
KPMG LLP is eligible to act as an audilor in lerms of seCt￿n 1212 of the Companies Act 2006
66 Queen Square
Bristol, BS14BE
Date. 21 July 2022

The Roger Newport Foundation
Statement of financial activities
for the year ended 31 December 2021
Notes
2021
2020
Incom8 from:
Investments
71.478
78,018
Total Income
71.478
78,018
Expenditurg on:
Raising funds - Investsnenl manaw charges
Charilable aclivilies
13.3741
(80,7721
{3.2421
(87,3881
(15.9101
373.774
{2,6561
154.7291
{3,2021
160.5871
17.431
Other
Total gxpgndituro
Net {deficitysurplu8
Gain on revaluation of investments
34,417
Ngt movgment in funds
357,864
51.848
Reconclliatlon of funds:
Total funds brought forward
Total funds carried forward
3.276,601
3,224,753
3,276,601
3,634,465
The slalefflenl of finanryal activities I￿ludeS all gains ￿￿1 losses rwnised in the yew.
All incoming resources and resources expended (Jerive from conbnuirg activities.
All income and expenditure in bolh years is unrestrrted.
The accompanwng ￿leS fomi part of the finawal stalements.
12

The Roger Newport Foundation
(Charity Number 1080765)
Balance sheet
at 31 December 2021
Notes
2021
2020
Fixed Assets
Inveslmenis
3,4ffi115
3.095.383
Current assets
Debtors
100.000
118,549
129,615
248.164
Cash
155,646
255.646
Creditors.. amounts fallSng due
within one yèar
Ngt current assgts
157.0721
{50.0781
198.S74
198.086
Creditors.. amounts falllng duo
after more than one year
assets
(30.224)
3.634465
(16.8681
3,276,601
Funds
UDrestrictgd fund
3,634,465
3.276.601
The financial slalements on pages 12 to 19 w￿e apr￿0Ved by the T￿￿tee on If JVLY
were svJned on its behalf by..
and
David Froed
Director
Pa
Director
13

The Roger Newport Foundation
Principal accounting policies
Basls of preparation
The financial statements have been prepared under the historical cost convention, modtfied by the
revaluation of fixed asset Investments, and in aCcOrda￿e wth Accounting and Reporting by Charities..
Statement of Recommended pract￿ appli￿ble lo charit￿5 preparing th￿r accounts in a￿r￿a￿e wlh the
Financial Reporting Skndarij appli(xble in the UK a￿1 ReputAic of Ireland {FRS 102} leffeclNe 1 January
20191- (Charities SORP IFRS 1021) and the Finanrial RerK)rting Standard appluble in the UK Republic
of Ireland IFRS 102).
The accounting policies that the charity has adopted lo detemiine the amounts induded in respect of material
items shown in the balan￿ sheet and also lo delem1￿ the irKome and expenditure have been applied
consistently in Ihe ojrrenl and preceding year aThJ ￿e sFNy•m below.
The Roger Newport FoundalN)n meets the definition of a Wb1￿ benefil entity Und￿ FRS 102. Assets and
Ikgbilrties are inili4lly rKognised al histor￿* cosl ￿ trar￿1￿￿ va￿e unth otherwise stat￿ in the relevant
accounting policy.
Golng Concem
The financial slalemenls have been tffepared on a goirwJ 0)r￿ern basis vthich t￿ Trustee5 consider lo be
appropriate for the following reasons.
The ￿sInesS model of the charty is such that its charitable activities are limited lo t￿se wh￿h il has suff￿le￿I
funds lo support from the excess of fundirwJ receNed over the costs of admir)isleriFvJ the ch*tty. The charity
has specific bursary commitments vthich il has su￿￿ent cash lo cover, bul no other committed cos15 Lwond
ils fixed costs of operalTh wh￿h are delailed in notes 2 a￿1 3.
The Trustees have reviewed the cash flow forecasts f¢y a period 12 months from the dale of approval of these
financial slalements which indicale Ihal Ihe chartty VAII have sufficient funds lo meet Ils liabilities as they fall
due for that peric*l. The Trustees have Jso considered various downsKle scenarios on these cash flow
forecasts and consKler that as a resull of ils operating rn￿￿ explained above. even rf no further funding is
received in the 12-month perK)d, the charity has Suf[￿ent cash reserves to pay all committed costs.
Consequently, the Tiustee is confidenl Ihal the charty wll have suff￿￿nI funds lo 1x￿tinUe to meet its liatx'lilies
as they fall (Jue for al least 12 months trom Ihe date of approval of the finanaal ststemenls.
Critical a￿O￿nting judgements and key sources of estimalion uncèrtainty
In applying the charity's accounting pdicies, the Truslee is required lo make judgements, estimates and
assumptions aboul the carying amounts of assels and liabilit￿$ that are not readily apparent froffl other
sources. Actual results may differ Irom these estimates_
Incoming resources
Inveslmenl income is induded in the sialement of financial activit￿5 when the charity is enlilled lo the
income, receipt is probable. and il can be quantified with reasonable certainty.
Residuary legacies are recognised as T￿•Vable once probate has been granted provided th81 Suff￿lent
information has been received lo enable valualion of Ihe charity's enlillemenl.
Other income is credited lo the statement of financial activities on a receivable basis.
Ex￿ndIture
(a)
All expenditu￿ is accounted for on an accruals basis and is recognised vknen there is a legal or
constructive obligation to pay for expenses.
{b)
Charitable donations. irtluding supportin9 adminislralion costs. relate lo Ihe dislribulions made or
approved lo the Collegiate Schod Ifofmerly Colslon's Sch¢y)11 as detailed in the objecls of the
Foundation.
(cl
Governa1￿ costs relate lo the strategic management of the charity's assets. and compliance wilh
¢onstilulion21 and slalulory requirernenls.
14

The Roger Newport Foundation
Principal accounting policies (continued)
Irrgcoverable VAT
Any irrecoverable VAT 1$ charged lo the statement of financial actt.vtt￿S or capilalised as part of the asset
where appropriate.
Fund accounting
Legacies and investment income recetved are induded as unrestricted funds of the Charity.
Investments
The Trust's investments are slated at mid-markel value al the balance sheet date. This is not in accordance
with FRS 102 which recommends bid value but is consistent wlh the entity s performance management
process. Using bi¢J values would lead to a movement in Ihe valuation of these listed investments of an
amounl wh￿h is considered by the Trustee to be immaterial.
The slalemenl of finanaal aclbvilies I￿ludeS the nel gains and losses arising on revaluations and disposals
Ihfoughoul Ihe period.
Cash flow statement
A slalemenl of cash flows has r￿1 been Fyepared as the charsty has laken advantage of the exemption
available in the SORP for smaller charities.
Taxatlon
The Roger Newport FI￿ndatiOn is a iegislered charity and as such lax exemplDn applies to the income
arising from and expended on charitable activities and to its investmenl income and gain5.
15

The Roger Newport Foundation
Notes to the financial statements
for the year ended 31 December 2021
Incoming resources
2021
2020
Investment income
Dividenés
71.464
77,874
Bank intere51
14
144
71.478
78,018
Analysis of costs of charitable aGtivities
Dlrect
Support
2021
2020
Collegiate School Iformedy Colston's SchocAI
80.772
3.242
84.014
57.931
AJI SUp￿rt costs have been alkxaled lo one charitable actNity ladyar￿ment of edUCa￿nI.
The Foundation has no employees and no slaff costs (2020: nill. A rtharge is made by the SOc￿ty of
Merchant Venturers for staff time as disdosed in rnle 9.
Other costs
2021
2020
Audit fee
3,180
3.180
22
Insurance
3,242
3.202
The audit fee exdui*ng irrecovera4e VAT was £2.65012020: £2.6501.
1fj

The Roger Newport Foundation
Notes to the financial statements
for the year ended 31 December 2021
Fixed asset investments
Total
Investment
Listed
Investments
Cash
Cost
As al 1 January 2020
Additions
2.530,084
2,629
2,532,713
217.035
7,436
224,471
Disposals
At 31 Dècèmber 2021
{251.2471
2.495,872
1251,2471
2.505.937
10,065
Revaluatlons
un￿alISed gains al 1 January 2020
Realised in respect ol disposal
Gain arising on revaluation
Unreallsed galns at 31 D￿ember 2021
Market valuè at 31 Dècèmber 2021
562,670
23,734
562,670
23,734
373,774
960, 178
373,774
,178
3.456,050
10,066
3,466.115
Maikel value al 31 December 2020
3.092.754
2.629
3,095,383
Investments with a market value of £3.466.115 {2020- £3.095,3831 are managed on behalf of Ihe Roger
Newport Foundalion by Tilney Smith and Willkgmson. The Eymfolio is spread across distinct classes of
investment as follows..
Investment assets in the UK
42.7
Inveslment assets ouiside the UK
49.0
Altemalives & Mults asset
Cash
100.0
Debtors
2021
2020
Prewd BUr$ar￿S
Loan
18,549
100.000
100,000
100,000
118.549
The loan was made lo enable the fofflier assistant of the Founder to purchase a propety and will be for
the period of her lifetime. The loan is interest free and secured against the property and was made with
agreement from the Charity Commission and Ihe Founder's family.

The Roger Newport Foundation
Notes to the financial statements
for the year ended 31 December 2021
Creditors: amounts falling due within one year
2021
2020
Collegiate School Ifcffiiety Cdston's School)
Other creditors
53.033
45,531
4.039
4.547
57,072
50.078
Creditors: amounts falling due after more than one year
2021
2020
C￿legiate Scknol Ifomierly CcAston's Schcd)
30,224
16,868
Movement in Unrestricted Funds
Unrestricted funds comprise those funds whth the Trustee is free to use in accordan￿ with the Charitable
objects. Th&se include all assels and liabililies of the charty.
Balance
at
1 January
2021
Balance at
31
Docember
2021
nveslmenl
Gains
Ircome Expendrture
Unreslricled funds
3,276,601
71.478
(87,3881
373,774
3,634,465
Trustee's remuneration
No director of SMV Trustee Company Limited direcuy benefited from remurkeralion or reimbursement of
expenses for Iheir services lo the Foundation during the year, r￿r held any benefiual interest in any contract
with the Foundation during the year {2020= £nd}.
10 Related Party Transactions
All Ihe Directors of SMV Trustee Company Ltd are members of Ihe Society of Merchant Venturers Standing
Committee.
The Society of Merchant Venturers charged £3.936 {2020= £4,126} to the charity as a realIc￿ll0n of salaries
of which £nil was oulstarKling al 31 December 202112020.. £nil).
18

The Roger Newport Foundation
Notes to the financial statements
for the year ended 31 December 2021
11 Connected organisations
Collegiale School. Bristol (fomierly Colslon'5 Schodl is a conr￿ted organisation. with govemor
nomination rights from the Society of Merchant Venturer5. Cdlegiate School. Bristol Ifomierty Colston's
School) can be contacted al Bell Hill. Sta￿et0￿. Bri51d. BS16 1 BJ.
19