The St Peter's College Foundation
Report and Financial Statements
For the Year Ended 31 De￿rnber 2024
Company Number: 05303218
Charity Number: 1107938

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Contents
Chairfs Statement.............................................................................................................................
Investment Committee Annual Report..............................................................................................
Trustees, Annual Report...................................................................................................................
Trustees and Administrative Information.........................................................................................13
Statement of Trustees, Responsibilities
Independent Auditorfs Report.........................................................................................................16
.14
Statement of Financial Activities (incorporating an income and expenditure account).....................20
Balance Sheet................................................................................................................................21
Statement of Cash Flows................................................................................................................22
Notes to the Financial Ststements..................................................................................................23

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Chair's Statement
Chair's Statement
The St Peter's College Foundation is an independent, alumni-led charity that supports St Peter's
College by investing in its people.
We do this by promoting access to the College for students irrespective of means or background, by
providing financial support for students in residen￿, and by investing in teaching resources. We also
seek to fund special projects which enhance the whole St Peter's experience.
In 2024, the Foundation generated a net surplus of £517.717. resulting in a 16 % increase in our net
assets to £3,768,824. This was after providing £102,589 in grants to St Peter's to support a range of
Foundation-sponsored initiatives.
Projects Supported
Investing in people remains the Foundation's core objective, and we continued to work closely with
the College during 2024 to support a range of projects which built on the successes of previous years.
Under
raduate Bursaries
Every year. the Foundation provides bursaries to undergraduates from lower-income households.
These bursaries enable students to focus on their academic work and to get the most out of life at St
Peter's, reducing financial worries and the need to find part-time employment while studying.
In the 202312024 academic year. the Foundation funded bursaries for six students as part of the
Oxford Bursary scheme. One of these students graduated last summer, successfully completing their
degree in English. The remaining bursaries are held by current students studying History. Medicine,
Economics & Management, Biology and History of Art. In the 202412025 academic year, we are
providing bursaries for seven students, including two new recipients who are studying Economics &
Management and Biology.
In a recent letter to the Foundation, one bursary recipient commented: 'When I received my student
loan, I had very little left for spending. I was considering applying for part-time jobs during term time
to ease anxieties, even though I knew this would be difficult for me in keeping up with work. The
bursary funds I received really helped me enjoy my first year...without panicking about my ability to
meet certain bills and financial obligations."
In addition, the Foundation continues to provide funding for a special bursary it established in 2019 in
honour of Noel Speake (1993), a much loved and missed former St Peter's student who sadly passed
away in 2016.
Other Under
raduate Su
ort
The Foundation finances a range of other initiatives that enable St Peter's undergraduates to pursue
valuable co-curricular opportunities and experiences. These include: Travel Grants, which enable
students to undertake unpaid internships and research trips that challenge them to develop and think
beyond their Oxford studies; Vacation Grants, which finance suitable between-term accommodation
from which they can revise, study or research. and Reading Parties. which provide students and tutors
with productive time away together- reading, discussing intensively, and preparing for finals. All these
initiatives have a big impact on students, wellbeing and academic success.
In the 202312024 academic year, eight undergraduates were awarded grants from the Foundation's
Travel Fund, enabling them to undertake fieldwork and internships across a range of disciplines,

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Chair's Statement
including earth Scien￿ and medicine. In addition, 38 undergraduates were awarded Vacation Grants
to finance the rental costs of remaining in Oxford during vacations. This is particularly beneficial for
students whose home environments are insecure or otherwise inconducive to study, enabling them
to revise effectively for their exams.
St Peter's held its 2024 English Reading Party for finalists in the Ashdown Forest in East Sussex,
where accommodation was provided by a friend of the Foundation, with the costs of food and travel
met from Foundation funds. The programme was led by Professor Abigail Williams and Professor
Francis Leneghan, with a guest appearance from Dr Felicity Brown. lecturer in early modern literature.
The finalists worked on Chaucerfs love tragedy, Troilus and Crisyede, the period papers from 1660 to
1830 and general exam strategy- interspersed with some beautiful walks to help settle exam nerves.
The Foundation also financed a Geography Reading Party in College during the 2024 Easter vacation
for second and third year students, led by Dr Alice Watson and Jess Zionts, the College lecturers in
human and physical geography. This helped students develop their coursework essays. dissertation
design and revision strategies, as well as facilitating dialogue and friendship across year groups.
Graduate Su
ort
The Foundation supports the academic and personal development of graduate students with the
provision of Graduate Research Grants. These grants make a big differen￿ to both taught and
research graduate students, supporting conference and research travel, projects and fieldwork. This
year's grants funded a diverse range of research projects around the world, including: the
investigation of a protein which regulates genes in leukaemia. the development of deep learning
models to test climate risk. and the study of gravity and time using mathematical tools from quantum
information theory.
Further graduate student support was provided through the funding of the St Peter's College Graduate
Seminar programme. which enhances engagement between different members of the College
community. At some seminars, two or three speakers share their work in some detail, while at others
a larger number of students each present a five-minute talk about their research. giving them a
valuable opportunity to socialise and practise presenting their work to a broader audien￿.
Since 2012, the Hrothgar Singaporean Clarendon Scholarship, generously funded by a Patron of the
Foundation. has provided funding for postgraduate students from Singapore. This scholarship is
currently supporting a DPhil student undertaking exciting research in the field of molecular electronics.
In 2022, the Foundation also funded the first Marshall Scholarship at St Peter's, and we continue to
support this exciting initiative. The programme finances young Americans of high ability to study for
a graduate degree in the UK and is one of the world's most distinguished and respected scholarship
programmes. Those selected to be Marshall Scholars are both academically excellent and
considered potential future US leaders. The current St Peterfs Marshall Scholar is a DPhil student in
paediatrics. His work has included supporting clinical trials in Uganda, as well as evaluating new
diagnostic biomarkers of paediatric tuberculosis to further efforts to combat the disease, which
impacts a quarter of the world's population. We are excited by St Peter's participation in the Marshall
Scholarship programme. which will help the College become a destination of Choi￿ for elite
applicants over the longer-term.
Recently, the Foundation has also committed to fund three new graduate scholarships at St Peter's
and an additional scholarship as part of the university's Palestine Crisis Scholarship Scheme. which
supports students displaced by the humanitarian crisis in Gaza and the West Bank.

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Chair's Statement
Investin
in Teachin
ReSoUr￿S
The Foundation funds a programme of supplementary teaching for students whose previous
schooling has not fully equipped them for the demands of an Oxford degree course. In the 2023124
academic year. this included two academic writing courses provided to 35 students, and a maths
bridging course for a further eight undergraduates. We also funded a variety of more targeted support
for individual students. This included: extra tuition for chemisty; language classes in French, Arabic
and Japanese to enhance students, research capacities" and a field trip for first-year Economics and
Management students to gain practical insights from industry leaders in London. These initiatives
have proved to be of great value to students from less advantaged educational backgrounds.
Outreach Initiatives
In addition to providing financial assistance to students and investing in teaching resources, the
Foundation provides substantial support for access and outreach initiatives.
In March 2024, we funded the College's collaboration with Aspire Liverpool for the fourth successive
year. enabling 71 talented young people from state schools across the city of Liverpool to attend St
Peter's largest-ever in-person residential programme.
All were Year 12 students from
underrepresented backgrounds with the intellectual potential to make successful applications to
Oxford. The programme provided admissions support and first-hand experience of College life to
build confidence and raise aspiration
with the students living in College accommodation, eating
meals in Hall, and being taught on-site in small group sessions run by St Peter's academics. We
believe it is the most ambitious residential outreach initiative run by a single college at Oxford.
Feedback from the participating students and teachers was overwhelmingly positive, with one student
commenting "the trip was very memorable and l enjoyed every part of it. Every single day offered
something new"
The Foundation is proud to support this innovative and ambitious project, which is helping gifted young
people learn about the university and what it has to offer.
Student Welfare
In 2018, the College appointed a part-time Dean for WetFare to oversee and coordinate its welfare
provision and, with support from the Foundation, this appointment was extended to a permanent,
full-time position in 2022. Students experiencing many kinds of difficulties. including physical and
mental health issues and bereavement, tum to this office as their first point of contact. The Dean for
Welfare also sits on the university's Joint Student Mental Health Committee, where policy decisions
are made. The Foundation's support for this position is indicative of our mission to invest in people,
and we recognise that the opportunity to thrive at St Peter's is determined as much by wellbeing as
academic success
Other Initiatives
Over the years, the Foundation has funded a diverse range of other projects to enhance the St Peter's
experience for undergraduates, graduates and Fellows. These have included the installation of a
video and livestream capability in the College Chapel, enabling College evenls to be broadcast to the
wider St Peter's community. upgrading the College's heating system. and providing display cases for
the Chavasse family decorations.
Initiatives funded in 202312024 included: new grants for clinical medical students., a professional
recording of the music of Piers Kennedy by the College choir. an end-of-year Sporting Achievements

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Chair's Statement
Dinner to celebrate all students who had won a Blue or a Blade. an event to mark the 400th
anniversary of the publication of Shakespeare's First Folio" and an event to mark the opening of Castle
Bailey Quad. which was attended by 235 alumni.
Investment Performance
The Foundation's investment portfolio generated a total return of 11 % in 2024, exceeding our target
of CPI plus 3.5 % . We are most grateful to the members of our Investment Committee, led by Candida
Lahaise and supported by our investment adviser Vemieer Partners, for their skillful stewardship of
our investment portfolio. The Investment Committee's report is set out on page 7.
Management and Administration
Team effort from dedicated St Peter's alumni is at the heart of our operation. and l am sincerely
grateful to the Trustees. Patrons and friends of the Foundation for their commitment, energy and
extraordinary generosity, which has enabled the Foundation to have such a positive impact on St
Peter's.
l am also grateful to the Governing Body and the team at the Development Office for supporting the
Foundation's partnership with St Peter's and, in particular, to the Master, Professor Judith Buchanan,
for her inspirational leadership of the College. The expertise and vision of the management team at
St Peter's is second to none in the university. and this is a source of great pride for its alumni.
The Future
Since the beginning of 2020. the Foundation has provided approximately £1.8 million in grant support
to St Peter's, and by the end of 2024 had built up reserves of approximately £3.8 million. We could
not have done this without the generosity of the alumni and friends who have donated to our cause,
to whom we owe a huge debt of gratitude.
In 2024, we further raised the awareness of our mission among St Peter's alumni, partly through three
social and cultural events
one in the Magistrates. Ballroom at the Nomad Hotel, with St Peter's
alumnus and award-winning screenwriter Simon Beaufoy as our guest speaker, and the other two at
Sotheby s hosted by Trustee Jacqueline King.
Looking forward, our aim is to grow the community of St Peter's alumni who wish to support the work
of the Foundation and the College more widely. This will enable St Peter's to build on its recent
success, and ensure that it remains a place where students from all backgrounds can fulfil their
potential.
Finally, having now completed my term of office as a Trustee, l am delighted to hand over the chair
to David Collard. David's thoughfful and expert guidance, commercial acumen and dedication to St
Peter's have been invaluable to both the College and the Foundation in re￿nt years. and I know the
leadership of the Foundation will be in very good hands.
The Trustees have been kind enough to invite me to become a Patron of the Foundation, and I look
forward to supporting our continued growth and development in the future.
Charles Ind
9 May 2025

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Investment Committee Annual Report
Investment Committee Annual Report
Our Vermeer-advised portfolio generated a retum of 11.30/0 in 2024. This was outperformance against
the ARC Equity Risk Index Benchmarf(. which delivered 9.3 /0, and ahead of our previous benchmark
of CPI (3.0 % at Jan 2025) plus 3.5 %. We have now agreed that the ARC Equity Risk Index is the
appropriate benchmark for all future reporting but that we will keep CPI plus 3.50/0 in mind for longer
term performance comparisons.
Performance during the period benefitted from the greater international diversification implemented
some time ago. with the investments in Japan and India being particularly strong performers. Though
the healthcare funds continued to underperform. the Committee reconfirmed its commitment to the
sector, due to the long-term growth drivers of scientific advanTrs and an ageing population
and
there are initial signs of some green shoots in biotech. The Committee maintains its commitment to
an equity-based strategy underpinned by the long-term investment themes of technology adoption
and digital transformation. healthcare and biotech. and Asia and Emerging Markets. We are prepared
to endure some volatility in the pursuit of stronger long-temi returns.
The US equity market continued to outpace Europe in 2024 and was pushed further by Trump's
decisive victory. Whilst Asia (India and Japan) saw generally strong performance, China continued to
underperform. Many of the biggest contributors for the Foundation's portfolio in 2024 were those that
had also perfomied well in the prior year: Bowmark Vl, Zennor Japan, Ashoka India, Polar Capital
and Hg Capital were stand out performers.
During 2024 we made a number of changes to the portfolio. We sold the Biopharma Credit Fund and
the Baillie Gifford Health Innovation Fund, reinvesting most of the proceeds into the BB Biotech Fund,
on advice from Vermeer. We also switched the Matthews Asia fund into the Federated Hermes Asia
ex-Japan Fund as we felt their asset allocation was superior. We sold our holding in the Ruffer Total
Return Fund after we questioned its role as a hedging position for the portfolio. We bought a position
in a FTSE Tracker believing the FTSE to be undervalued and also appreciating its inherent Sterling
hedge and relatively high dividend income yield. Finally. we invested surplus cash to increase our
positions in Arbrook America, Zennor Japan and Hg Capital Trust.
In the first quarter of 2025, the Investment Committee reviewed its cash position and agreed that
some further investment could be made towards China or Emerging Markets. We agreed. with advice
from Vemieer, to add to our holding in Templeton Emerging Markets over the course of the next
quarter.
The asset allocation was also reviewed to ensure it remains consistent with our long-term strategy. in
the context of the current investment environment and outlook, including geopolitical and other
factors.
During the first quarter of 2025. global equity and debt capital markets have experienced. and
continue to experien￿. considerable volatility and turbulen￿ resulting from the sudden and
fundamental changes to established US trade policy introduced by the Trump administration,
particularly as regards the imposition by the US of unilateral tariffs and other impediments to trade. As
at the date of this report, this situation continues to be extremely dynamic and, in the event of
prolonged retaliatory 'trade wars,. particularly between the US and China. and the US and the EU,
could potentially be extremely serious for the outlook for the global economy.

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Investment Committee Annual Report
However, the Investment Committee remains confident in the long-term prospects for the portfolio,
and will continue to monitor asset allocation to ensure that it remains consistent with our long-term
strategy, in the context of this investment environment and outlook, including geopolitical and other
factors.
Candida Lahaise
9 May 2025

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Trustees, Annual Report
Trustees. Annual Report
The Trustees, who are also the directors of the company limited by guarantee, are pleased to present
their annual Trustees, report together with the financial statements of The St Peter's College
Foundation for the year ended 31 December 2024. which are also prepared to meet the requirements
for a directors. report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011. the Companies Act 2006, the
Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Public Benefit
The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have regard to the
Public Benefit guidance issued by the Charity Commission. This compliance is identified throughout
this report in the description of the activities undertaken.
In planning our activities for the year. we keep in mind the Charity Commission guidance on public
benefit.
Objectives and Activities
The company's objectives and principal activities are to promote the advancement of education and
learning, including but not limited to:
supporting initiatives which attract students from less privileged backgrounds to apply to and
join St Peter's College-
providing financial assistan￿ to students in residen￿. and
supporting and increasing the financial resources available for teaching.
The main objectives and activities for the period focused on continuing to develop the Foundation by
raising donations, investing the funds and providing grant support to St Peter's College.
Achievements and Performance
The Foundation has continued to raise donations from benefactors and has funded a range of College
activities, details of which can be found in the Chair's statement above.
Fundraising
The Foundation conducts marketing activities aimed at raising income from donations, which are
sought from a wide ne￿Ork of St Peter's alumni and other contacts interested in the work of the
Foundation and the College. The programme of events is supplemented by regular communications
to the Foundation's network of friends and supporters to keep them updated on re￿nt activities,
including the circulation of an annual review.
The Foundation does not solicit donations from the general public and is not registered with the
Fundraising Regulator. However. it conducts its activities in a manner consistent with the regulator's
Code of Fundraising Practice. There are no arrangements in place with professional third-party
fundraisers and no complaints were received in 2024 regarding the Foundation's fundraising
activities.

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Trustees, Annual Report
Financial Review
Outcome for the
eriod
The Foundation's income in the period amounted to £390,695, of which £301,069 was represented
by donations (£286,594 in unrestricted funds and £14.475 in restricted funds). and £89.626 by
investment income.
Expenditure of £176,690 was incurred, of which £102,589 comprised grants to St Peter's College and
£74,101 represented fundraising and administration costs.
This resulted in net operating income of £214.005. After accounting for unrealised gains of £303.712
on the investment portfolio, the net surplus for the year was £517,717.
As a result, the Foundation's total reserves increased from £3,251.107 to £3.768,824 with an increase
of £508,550 in unrestricted reserves and an increase of £9.167 in restricted reserves. The restricted
reserves of £28,197 will be used to fund ￿rtain pre-identified grants.
Investment Strate
The Foundation has established an Investment Committee from among its Trustees. This includes
individuals with a long-term record of senior involvement in the financial sector.
The strategy is to accept some exposure to short-tenn volatility. This allows a more ambitious
investment style which it is believed will. over time. provide above average growth in value. A detailed
update on the Foundation's investment strategy is set out in the Investment Committee's annual
report.
The Investment Committee seeks to integrate high standards of Environmental, Social and
Governance ("ESG") into its investment-decision making process. The Foundation's investment
adviser, Vermeer, is aware of this objective and hence all funds which Vermeer presents to the
Investment Committee for consideration have been pre-qualified to meet acceptable ESG standards.
Reserves Polic
The Board intends to continue to build the reserves of the Foundation, by seeking major donations,
so as to create a fund that will generate a sustainable income to enable the Foundation to meet its
long-temi objectives. Unless specific restrictions are placed by donors. the resenies of the Foundation
will be unrestricted in nature. ReseNes are not generally regarded as available for meeting
expenditure. other than in special circumstances. Routine costs are covered by investment income
and donations.
The Foundation maintains a general reserve of unrestricted funds sufficient to meet its financial, legal
and moral obligations to its employees. beneficiaries. volunteers. donors and all relevant authorities.
The Trustees consider that cash and highly liquid investments. together equal to a minimum of 12
months of historic operating costs and grants to St Peter's, should a￿ayS be maintained.
Plans for Future Periods
The Foundation plans to continue the activities oullined above in the forthcoming years subject to
satisfactory funding arrangements.
10

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Trustees, Annual Report
structure, Governance and Management
Governin
Document
The Foundation is a charitable company limited by guarantee, incorporated on 2 December 2004 and
registered as a charity on 3 February 2005 (the"Foundation'). The Foundation was established under
a Memorandum of Association which established the objects and powers of the Foundation company
and is governed under its Articles of Association. In the event of the Foundation being wound up.
members (being the Trustees) are required to contribute an amount not exceeding £1.
Recruitment and A
ointment of the Board
The directors of the company are also charity Trustees for the purposes of charity law and under the
company's Articles comprise the Board. Under the requirements of the Memorandum and Articles of
Association the members of the Board are elected to sep4e for a period of four years, after which they
must be re-elected at the next Annual General Meeting and may be reappointed such that they can
serve for a maximum of three temis in all. EX￿ptIOnally, a Trustee may have their eligibility for
reappointment extended beyond three terms.
The members of the Board have been selected for their knowledge of, and desire to support, St
Peter's College.
Trustee Induction and Trainin
All of the members of the Board are familiar with charitable organisations in general. They have been
made familiar with the activities of the Foundation and its accounts. No further induction was
ne￿Ssary.
Risk Mana
ement
The Board is aware of the potential risks of operating the Foundation and has taken reasonable steps
to assess and manage these risks. The principal risks are considered to be financial in nature and, in
particular, are related to the variability of cash flow caused by the relian￿ on donation income, as
well as the potential for a decline in the value of investments. The Trustees mitigate these risks by
only committing to paying grants to St Peter's College where funds have already been received or
pledged from a reliable source, and do not rely on selling investments to meet financial commitments.
In addition, there is some operational risk caused by the reliance on one employee to manage the
Foundation's administrative and accounting duties. This has been mitigated by the preparation of
comprehensive documentation and procedures to ensure that these duties would be readily
transferable, if required. In addition, the Trustees and the Foundation's IT consultant have access to
all relevant records and accounting software. The employee's remuneration is reviewed annually.
Indemni
The Foundation holds an indemnity policy for the benefit of the Trustees.
anisational Structure
The Board may have up to 15 members who meet half-yearly. or more frequently as necessary, and
are responsible for the strategic direction and policy of the Foundation. As at 31 December 2024, the
Board had nine members with a variety of professional backgrounds relevant to the work of the
Foundation.

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Trustees, Annual Report
The Secretary also attends Board meetings but has no voting rights. All activities are supervised by
Board members.
Members of the Board
Members ofthe Board. who are directors for the purpose of company law and Trustees for the purpose
of charity law. who served during the year and up to the date of this report are set out overleaf.
Charles Ind, Chair of the Board until 31 De￿rnber 2024 and one of the Foundation's Patrons since 1
January 2025. and Stephen Diggle. a former member of the Board and one of the Foundation's
Patrons, are both principals of investment firms that manage funds in which the Foundation holds
interests.
The Board ensures that any conflicts of interest are appropriately disclosed. Trustees do not take part
in discussions or decisions where they have a conflict of interest.
12

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Trustees and Administrative Information
Charity name:
Charity registration number:
Country of registration:
Company registration number
Country of incorporation:
Registered Office:
The St Peter's College Foundation
1107938
England and Wales
05303218
United Kingdom
15 Belgrave Square
London SW1X 8PS
Honorary President
Lord Hodgson of Astley Abbotts. CBE
Patrons
Stephen Diggle"
Jocelin Harris"
Charles Ind. (appointed 1 January 2025)
Guy Stokely"
Charles Wilkinson"
Board of Trustees
David Collard (Chair)
Professor Stephen Baxter (resigned 9 September 2024)
Professor Judith Buchanan
Dr Huw Dorkins (appointed 9 September 2024)
Chris Hoyer Millar.
Charles Ind. (resigned 31 December 2024)
Jacqueline King
Candida Lahaise.
Professor Lavanya Rajamani
Dalia Salaam Rishani
"Member of Investment comM￿ee
Secretary
Yvonne Raptis
Auditor
Sayer Vincent LLP
110 Golden Lane
London EC1Y OTG
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
West Malling
ME19 4JQ
13

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Statement of Trustees, Responsibilities
Statement of Trustees. Responsibilities
The Trustees (who are also directors of St Peter's College Foundation for the purposes of company
law) are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
Company law requires trustees to prepare financial statements for each financial year, which give a
true and fair view of the state of affairs of the company and of its results for that period. In preparing
those financial statements. the Trustees are required to"
select suitable accounting policies and then apply them consistently"
observe the methods and principles in the Charities SORP"
make judgements and estimates that are reasonable and prudent.
state whether applicable UK accounting standards and statements of recommended practice
have been followed, subject to any material departures disclosed and explained in the financial
statements" and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Foundation will continue in operation.
The Trustees are responsible for keeping adequate accounting records which disclose with
reasonable accuracy at any time the financial position of the Foundation and to ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding
the assets of the Foundation and hen￿ for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
As far as the Trustees are aware:
there is no relevant audit infomiation of which the Foundation's auditor is unaware. and
the Trustees have taken all steps that they ought to have taken to make themselves aware of
any relevant audit information and to establish that the auditor is aware of that information.
The Trustees are responsible for the Maintenan￿ and integrity of the corporate and financial
information included on the company's website. Legislation in the United Kingdom governing the
preparation and dissemination of financial statements may differ from legislation in otherjurisdictions.
Members of the Foundation guarantee to contribute an amount not exceeding £1 to the assets of the
Foundation in the event of winding up. The total number of such guarantees at 31 December 2024
was 9 (2023: 9). The Trustees are members of the Foundation. but this entitles them only to voting
rights. The Trustees have no beneficial interest in the Foundation.
Auditor
Sayer Vin￿nt LLP was appointed as the Foundation's auditor during the year and has expressed its
willingness to continue in that capacity.
The Trustees, Annual Report has been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
14

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Statement of Trustees, Responsibilities
Approved by the Board on 9 May 2025 and signed on its behalf by:
David Collard
Trustee and Chair of the Board
15

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Independent Auditor's Report
Independent Auditor's Report
Opinion
We have audited the financial statements of The St Peterfs College Foundation (the "charitable
company") for the year ended 31 December 2024 which comprise the statement of financial activities,
balance sheet. statement of cash flows and notes to the financial statements. including significant
accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards. including FRS 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:
give a true and fair view of the state of the charitable company's affairs as at 31 December
2024 and of its incoming resources and application of resources, including its income and
expenditure for the year then ended"
have been propedy prepared in accordance with United Kingdom Generally Accepted
Accounting Practice,. and
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 conduded 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 induded in the Trustees, Annual Report. other than
the financial statements and our auditorfs report thereon. The Trustees are responsible for the other
information contained within the Annual Report. Our opinion on the financial statements does not
cover the other information and. except to the extent othenNise explicitly stated in our report. we do
not express any form of assurance conclusion thereon. Our responsibility is to read the other
information and, in doing so, consider whether the other infomiation is materially inconsistent with the
16

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Independent Auditor's Report
financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have perfomied, 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Annual Report, for the financial year for which the
financial statements are prepared is consistent with the financial statements., and
the Trustees, Annual Report has 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 understsnding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the Trustees,
Annual 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:
adequate accounting records have not been kept, or retums adequate for our audit have not
been received from branches not visited by us: or
the financial statements are not in agreement with the accounting records and returns" or
certain disclosures of Trustees, remuneration specified by law are not made" or
we have not received all the information and explanations we require for our audit. or
the directors were not entitled to prepare the financial statements in accordance with the small
companies, regime and tske advantage of the small companies, exemptions in preparing the
Trustees, Annual Report and from the requirement to prepare a strategic report.
Responsibilities of Trustees
As explained more fully in the ststement of Trustees. responsibilities set out in the Trustees, Annual
Report, the Trustees (who are also the 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 Foundation'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 obtsin 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 auditor's 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
17

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Independent Auditor's Report
when it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate. they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.
Irregularities, including fraud. are InStan￿S of non-cornpliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities, including fraud. The extent to which our prO￿dureS are capable of detecting
irregularities, including fraud are set out below.
Ca
abilit of the Audit in Detectin
Irre
ularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations. our procedures included the following:
We enquired of management. which included obtaining and reviewing supporting
documentation. concerning the charity's policies and procedures relating to:
identifying, evaluating. and complying with laws and regulations and whetherthey were
aware of any InStan￿S of non-compliance"
detecting and responding to the risks of fraud and whether they have knowledge of
any actual, suspected, or alleged fraud- and
the internal controls estsblished to mitigate risks related to fraud or non-compliance
with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the charity operates
in. focusing on those laws and regulations that had a material effect on the financial statements
or that had a fundamentsl effect on the operations of the charity from our professional and
sector experience.
We communicated applicable laws and regulations throughout the audit team and remained
alert to any indications of non-complian￿ throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting
documentation to assess Complian￿ with applicable laws and regulations.
We perfomied analytical procedures to identfy any unusual or unexpected relationships that
may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the
appropriateness of journal entries and other adjustments. assessed whether the judgements
made in making accounting estimates are indicative of a potential bias and tested significant
transadions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely to become aware
of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud
rather than error, as fraud involves intentional Con￿alment, forgery, collusion, omission or
misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website
at: www.frc.or
.uldauditorsres
onsibilities. This description forms part of our auditor's report.
18

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Independent Auditor's Report
Use of our Report
This report is made solely to the charitable company s members as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members those matters we are required to state to them in
an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept
or assume responsibility to anyone other than the charitable company and the charitable company's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Fleur Holden (Senior statutory auditor)
for and on behalf of Sayer Vincent LLP, Statutory Auditor
110 Golden Lane, London, EC1Y OTG
Date:19 May 2025
19

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Statement of Financial Activities (incorporating an income and expenditure account)
2024
Total
2023
Total
Unrestricted
Restricted
Unrestricted
Restricted
Not8
Income from:
Donations
Investments
286,594
89,626
14,475 301,069
89.626
119,025
57,282
52,358
171,383
57,282
Totsl Income
376,220
14.475 390,695
176,307
52,358
228,665
Expenditure on..
Raising Funds
Charitable activities
Granlmaking
44,017
44.017
16.688
16,688
127.365
5.308
132.673
125.541
45,675
171,216
Total expenditure
171.382
5.308
176.690
142,229
45,675
187,904
Net income I (expenditure) before
net galns l {los$esl on Investments
204,838
9.167 214.005
34.078
6,683
40,761
Gains I Ilossesl on investments
10
303,712
303.712
151.382
151,382
Net income I (expenditure) for the
year and net movement in funds
508,550
9.167
517,717
185.460
6,683
192,143
Reconciliation of fvnds:
Total funds brought forward
3.232.077
19.030 3,215,107
3,046.617
12.347 3.058,964
Total funds carried forward
3.740.627
28,197 3.768,824
3,232,077
19,030 3,251,107
All of the above results are derived from continuing activibes. There were no other recognised gains or losses other than those stated
above. Movements in ftjnds are disclosed in Note 14a to Ihe financial statements
20

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Balance Sheet
2024
2023
Note
Fixed assets:
Investments
10
3.625.138
2,987.530
3,625,138
2,987,530
Current assets:
Debtors
Cash at bank and in hand
4.437
190,335
4,747
323.153
194,772
327,900
Liabilities:
Creditors.. amounls falling due within one year
12
151.086)
{64,3231
Net current assets
143,686
263.577
Total assets less current liabilities
3.768.824
3,251,107
The funds of the Foundation:
Restricted income funds
Unrestricted income funds..
Designated funds
General funds
14a
28,197
19,030
17,013
3,215,064
3,740,627
Total unreslricled funds
3,740.627
3,232,077
Total Foundation funds
3,768,824
3,251,107
Approved by the Trustees on g May 2025 and signed on their behalf by=
David Collard
Trustee
Candida Lahaise
Trustee
21

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Statement of Cash Flows
2024
2023
Cash flow$ from operating activilies
Net income for the year {as per the statement of financial activities)
{Gains) on investments
Dividends and interest from investments
{Increase) I decrease in debtors
Increase in creditors
517.717
{303.712}
(89.626}
310
(13.237)
192,143
1151,382)
(57,282)
{2,697)
12.703
Net cash (used in) I provided by operating activities
Cash flows from investing activities:
Dividends and interest from investments
Proceeds from sale of investments
Purchase of investments
Movemenl in cash held by broker
111,452
16,515)
89.626
663,755
(1.007.363}
9,712
57,282
1.134.545
11.117,464)
(16,083)
Net cash provided by l (used in) operating activities
1244.270)
58,280
Change in cash and cash equivalenls in the year
1132,818)
51,765
Cash and cash equivalents at the beginning of the year
323.153
271,388
Cash and cash equlvalents at the end of the year
190.335
323.153
Analysis of cash and cash equivalents
At
1 January
2024
Other
non-cash
changes
At
31 December
2024
Cash
flows
Cash at bank and in hand
323,153
{132.818)
190,335
Total cash and cash equivalents
323,153
1132,8181
190,335
22

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
1. Accounting policies
a) Statuto
infomation
The St. Peter's College Foundation is a charitable company limited by guarantee and is
incorporated in England.
The registered Offi￿ address is 15 Belgrave Square, London, SW1 X 8PS.
b) Basis of
re
aration
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy or note.
In applying the financial reporting framewo￿. the Trustees have made a number of subjective
judgements, for example in respect of signfficant accounting estimates. Estimates andjudgements
are continually evaluated and are based on historical experien￿ and other factors, including
expectations of future events that are believed to be reasonable under the circumStan￿s. The
nature of the estimation means the actual outcomes could differ from those estimates. Any
significant estimates and judgements affecting these financial ststements are detailed within the
relevant accounting policy below.
c) Public benefit enti
The Foundation meets the definition of a public benefit entity under FRS 102.
The Trustees do not consider that there are any sources of estimation uncertainty at the
reporting date that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next reporting period.
d) Goin
con￿rn
The Trustees consider that there are no material uncertainties about the Foundation's ability
to continue as a going concern. The Trustees do not make any commitments beyond their
ability to meet them, and the Foundation does not engage in borrowing.
e) Income
Income is recognised when the Foundation has entitlement to the funds, any performan
conditions attached to the income have been met. it is probable that the income will be received
and that the amount can be measured reliably.
f) Interest re￿1vable
Interest on funds held on deposit is included when re￿1vable and the amount can be measured
reliably by the Foundation. this is normally upon notification of the interest paid or payable by the
bank.
g) Fund accountin
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure
which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming reSoUr￿S re￿iVed or generated for the
charitable purposes.
23

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
enditure and irrecoverable VAT
Expenditure is 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. Expenditure is classified under the following activity headings..
costs of raising funds relate to the costs inCu￿ed by the Foundation, as well as the cost
of any activities with a fundraising purpose.
expenditure on Foundation activities includes the costs incurred by the Foundation in the
delivery of its activities and services for its beneficiaries undertaken to further the
purposes of the Foundation and their associated support costs" and
other expenditure represents those items not falling into any other heading I￿eCOVerable
VAT is charged as a cost against the activity for which the expenditure was incurred.
i) Grants
able
Grants payable are made to third parties in furtheran￿ of the Foundation's objects. Single or multi-
year grants are accounted for when either the recipient has a reasonable expectation that they will
receive a grant and the Trustees have ag￿ed to pay the grant without condition, or the recipient
has a reasonable expectation that they will re￿1ve a grant and that any condition attaching to the
grant is outside the control of the Foundation.
Provisions for grants are made when the intention to make a grant has been communicated to
the recipient but there is uncertainty about either the timing of the grant or the amount of grant
payable.
j) Allocation of su
ort costs
Resources expended are allocated to the particular activity where the cost relates directly to
that activity. However. the cost of overall direction and administration of each activity,
comprising the salary and overhead costs of the central function. is apportioned on the
following basis which are an estimate, based on staff time. of the amount attributable to each
activity.
Where information about the aims. objectives and projects of the Foundation is provided to
potential beneficiaries, the costs associated with this publicity are allocated to charitable
expenditure.
Where such information about the aims, objectives and projects of the Foundation is also
provided to potential donors. activity costs are apportioned between fundraising and charitable
activities on the basis of each activity.
Govemance costs are the costs associated wrth the govemance arrangements of the
Foundation. These costs are associated with constitutional and statutory requirements and
include any costs associated with the strategic management of the Foundation's activities.
k) Listed investments
Investments are a form of basic financial instrument and are initially recognised at their
transaction value and subsequently measured at their fair value as at the balance sheet date
using the closing quoted market price. Any change in fair value will be recognised in the
statement of financial activities. Investment gains and losses, whether realised or unrealised,
are combined and shown in the heading "Net gainsl{losses) on investments. in the statement
of financial activities. The Foundation does not acquire put options, derivatives or other
complex financial instruments.
24

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
l) Cash at bank and in hand
Cash at bank and cash in hand indudes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
m) Creditors and
rovisions
Creditors and provisions are recognised where the Foundation has a present obligation resulting
from a past event that will probably result in the transfer of funds to a third paty and the amount
due to settle the obligation can be measured or estimated reliably. Creditors and provisions are
normally recognised at their settlement amount after allowing for any trade discounts due.
n) Financial instruments
The Foundation only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value.
o) Pensions
The Foundation operates a defined contribution pension plan for one employee.
2. Income from donations
2024
Total Unrestricted
2023
Total
Unrestricted
Restricted
Restricted
Donations
Donated Investments
217,287
69,307
14.475
231.762
69,307
119.025
52.358
171.383
286,594
14.475
301.069
119.025
52.358
171,383
In 2024, restricted donations were received for.. Noel Speake bursary (£11.1001- Hrothgar scholarship (£3,375).
See Note 14.
25

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
3. Income from investments
2024
Total
2023
Total
Dividends
Bank Interesl
72,810
16,816
49,865
7,417
89,626
57,282
All dividends and bank interest are unrestricted.
4a. Anatysis of expenditure (cuffent year)
Charitsble
aclivities-
Grantmaking
Raising Govemance
Funds
costs
Support
costs
2024
Total
2023
Total
Staff costs (Note 61
Welfare support
Bursaries and student support
Graduate research and support
College music. events. community
Reading parties
Aspire Liverpool
Medical equipment
Hrothgar scholarship
Marshall scholarship
Noel Speake bursaries
Fundraising evenl ¢x>sts
Administration costs
Investment fees
Audit
Insurance
Office cosls
Bank charges and sundries
13,626 13,626
15,000
18.401
14,000
12,231
15,000
43,000
12,000
22,600
3,500
24,000
3,500
3,375
15,000
4,000
15,000
18,401
14,000
869
24.000
3,500
3,375
15.000
869
24,000
3.500
3,375
15,000
23.324
23.324
298
20.693
9,942
1,345
4.801
72
298
141
16,688
9,438
631
2,734
66
20.693
9,942
1,345
4,801
72
102,589
44,017
9,942
20,142 176.690 187,904
Support costs
20,142
{20,1421
Governance costs
9.942
(9.942)
Total expenditure 2024
132,673
44.017
174.690
Total expenditure 2023
171,216
16.688
187,904
26

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
4b. Analysis of expenditure (prior year)
Charitable
activities-
Grantmaking
Raising Govemance
Fund
costs
Support
costs
2023
Total
Staff costs {Note 6)
Welfare supporl
Bursaries and sludent support
Graduale research and support
College music. events. community
Reading parties
Aspire LiverpK)ol
Medical equipment
Hrothgar scholarship
Marshall scholarship
Noel Speake bursaries
Administration costs
Investment Fees
Audit
Insurance
Office costs
Bank charges and sundries
12,231
12.231
15.000
43.000
12.000
22,600
3,500
24,000
3,500
3,375
15,000
4,000
141
16,688
9.438
631
2,734
66
15,000
43,000
12,000
22.600
3,500
24,000
3,500
3,375
15.000
4.000
141
16,688
9,438
631
2,734
66
145,975
16,688
9,438
15,803
187,904
Support costs
15,803
(15,803)
Governance costs
9,438
(9,438)
Total expendlture 2023
171,216
16,688
187,904
27

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
5. Net income l (expenditu￿) for the year and net movements in funds
This is staled after charging=
2024
2023
Audit
8.285
7,875
8,285
7,875
6. Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management
personnel
Staff costs were as follows..
2024
2023
Salaries and wages
Social security costs
Employer's contribution to defined contribution pension schemes
13.229
11,875
397
13,626
356
12,231
No employee earned more than £60.000 during the year (2023: none).
The total employee benefits (including pension contributions and employer's national
insurance) of the key management personnel were £ nil (2023: £ nil).
The Trustees were neither paid nor received any other benefits from employment with the
Foundation in the year (2023: £ nil). No Trustee received payment for professional or other
ServI￿S supplied to the Foundation (2023: £ nil).
7. Staff numbers
The average number of employees (head count based on number of staff employed) during
the year was 1 (2023: 1).
8. Related party transactions
During the year Trustees, or organisations connected to them. made donations to the
Foundation totaling £213,250 of which £8,750 were restricted (2023 £143,250 of which
£25,275 were restricted).
During the year no Trustees received reimbursement of expenses. (2023 - nil)
9. Taxation
The Foundation is exempt from corporation tax as all its income is charitable and is applied for
charitable purposes.
28

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
10. Investments
2024
2023
Listed Investments
Fair value at the start of the year
Additions at cost
Disposal proceeds
Net gain l {loss) on change in fair value
Fair value at the end of the year - Listed investments
2,749,595
912,773
(637,010)
300,763
3,326,121
2,644,334
1.106,464
(1,134,545)
133,342
2,749,595
Unlisted Investmenls
Fair value at the start of the year
Additions at cost
Disposal proceedslretum of capital
Gain on disposal
Net gain I (loss) on change in fair value
Fair value at the end of the year - Unlisted inveslments
220.969
94,590
(26,745)
12.246
9,297
291,763
3.617,884
191,929
11,000
18,040
220,969
2,970,564
Cash held by investment adviser pending reinveslment
7,254
16,966
Fair value at the end of the year - Total investments
3,625,138
2,987,530
Investments comprise:
2024
2024
Fixed Income
Global Equity
UK Equity
Emerging Markets
Altemalive Investments
Cash held by investment adviser pending reinvestrnent
42,579
2,176.227
761,933
140,562
496,583
7,254
85,577
1,559,423
669,791
129,618
526,155
16,966
3,625,138
2.987,530
11. Debtors
2024
2023
Investmenl income re￿Ivable
Other debtors
Redemption proceeds due
1,322
3,115
340
4,407
4.437
4,747
29

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
12. Creditors: amounts falling due within one year
2024
2023
Accruals
Grants payable
15,170
35.916
14,023
50,300
51.086
64.323
Grants payable represent amounts committed but nol yet paid to St Pelerfs College to fund activities including
vacation grants, reading parties and other undergraduate and post-graduate support.
13a. Analysis of net assets between funds (current year)
General
Designated
Reslricled
Total funds
Investmenls
Net currenl assets
3.625,138
115,489
3.625.138
143.686
28,197
Net assets at 31 December 2024
3.740.627
28.197
3,768,824
13b. Analysis of net assets between funds (prior year)
General
Designated
Restricted
Total funds
Investmenls
Net currenl assets
2.987.530
227,534
2.987,530
263,577
17,013
19,030
Net assets at 31 December 2023
3.215.064
17.013
19,030
3.251.107
30

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
14a. Movements in funds (cU￿ent year)
At1
January
2024
At31
December
2023
Income
& gains
Expenditure
& losses
Transfers
Restricted funds:
Hrothgar scholarship
Noel Speake bursary
Clinical medical students
3.375
11,100
(3.3751
17,097
1,933
28,197
11.9331
Total restricted funds
19,030
14,475
{5,3081
28.197
Unrestricted funds:
General funds
3,215,064
17.013
679,932
(154.3691
{17,0131
3,740,627
Designated Funds
Total unrestricted funds
3.232.077
679.932
(171.3821
3,740,627
Totsl funds
3,251,107
694,407
(176.6901
3.768.824
Purposes of restricted funds
Hrothgar Singaporean Clarendon Scholarship: thretryear scholarship for a Singaporean tM)St-graduate student.
Nckl Speake ButEary: set up in of Nckl Speake. a f(xmer St Peterfs alumnus, to provide a to an
undergraduate history student.
Clinical Medical Students: to a￿st Med￿21 sbjdents in th￿r dinral years, 7Mth the purchase of ￿UIpMent such as
stethoscotEs.
Purpose of designated funds
Designated funds are unrestricted funds set aside by the Tnjstees to meet fijture altemative investment drawdown
commitments.
31

The St Peter's College Foundation
Report and Financial Statements for the Year Ended 31 December 2024
Notes to the Financial Statements
14b. Movements in funds (prior year)
At
1 January
2023
At
31 December
2023
Income
& gains
Expenditure
& losses
Transfers
Restrlcted funds:
Hrothgar scholarship
Noel Speake bursary
Aspire LivertKJol
Choir recording
Clinical medical students
Support for Ethiopian student
3.375
8.750
24,000
5.800
5,433
5.000
{3,375)
14,0001
{24,0001
15,8001
13,5001
15,000)
12.347
17,097
1,933
Total restrfcled funds
12,347
52,358
{45.675)
19,030
Unrestricted funds:
General funds
Designated Funds
3,018.604
28.013
327,689
(131,2291
(11.0001
3,215,064
Total unrestricted funds
3,046.617
327,689
(142.2291
3,232,077
Total funds
3,058,964
380,047
(187.9041
3,251,107
15. Legal status of the Foundation
The Foundation is a company limited by guarantee and has no share capital. The liability of
each member (each Trustee) in the event of winding up is limited to £1.
32