Hill House Foundation Trust, Registered Charity 1113706 Trustee5' Report for the year ended 31 August 2021 Charitvs principal address: 22 Vicarage Drive. East Sheen, London SW14 8RX Structurei governance and management. The Trust was established by a charitable trust deed dated 23 December 2005. The Trustees who served during the year were: Richard Macleod Robinson, Patricia Anne Stoughton and Neil Ritchie Sullivan If a vacancy occurs the Trustees must note the fact in the minutes of their next meeting. Any eligible Trustee may be re-appointed. So long as there are fewer than three trustees, none of the pow'ers or discretions conferred by the trust deed or by law on the trustees shall be exercisable by the remaining trustees except the power to appoint new trustees. Every trustee must be appointea or discharged by resolution of the trustees passed at a special meeting called in accordance with the Trust Deed. In sele￿Ing individuals for appointment as trustees, the Trustees must have regaro to the ski115, knowledge and experience needed for the efrective administration of the charity. The Trustees must make available to each new Trustee, on his or her first appointment: al A copy of the Trust Deed and any amendments made to it; bl A copy of the charivs latest report and statement of accounts. meetings, decisions must be made by a majority of the trustees present and voting on the question. The person chairing the meeting shall have a casting vote whether or not he or she has voted previously on the same question but no trustee in any other circumstances shall have more than one vote. Rlsk Management. The Trustees have assessed the majo-, r';5KS to which the charity is exposed, and are sat15fied that systems are in place to mitigate exposure to the major risks. HILL HOUSE FOUNDATION TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Objectives and artivities Th- principal 04jects of the charity are: B TJ,"saries for children of Hill Fl,ouse School, contributions to prize funds for children of Hill House Schoo! and genera! charitable purposes Monies are distributed regularly in accordance with these objectives In considering their activities the Trustees have had due regard to the guidance issued by the Clarity Commission on public benefit and in deciding what ctivities the Charity should undertake. Achievements and performance Tho Trustees are pleased with the InVest￿ent income achieved. Financial Review Income from investments, gains from sale of shares, interest received from UK bank and donations plus change in market value of shares amounted to £192,725 with charitable gifts amountingto £84,650. All investments are managed by Charles Stanley with instructions from the Trustees to achieve a balance between capital and income growth. Reserves Policy The Trustees, policy on reserves is to retain sufficient unrestricted cash reserves to enable them to continue to maintain, so far as possible, their established level of charitable giving. The Trustees are confident that the level of reserves held are such that future investment income generated will enable the charity to meet its objectives. Plans for the future The Hill House Foundation Trust will continue to make donations to further the objetts of the Trust. On behalf of the board of Trustees, .F..ob OA. Trustee. dated 18 May 2021 ## **HILL HOUSE FOUNDATION TRUST** ## **ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021** |Receipts
Donations received
Interest received from UK bank (per enclosed schedule)
Profit on disposal of shares
Charles Stanley:
Dividends received (per Charles Stanley schedule)
Other income
Income on market value of shares
Payments
Bank Charges
Payments in accordance with
clause 3 of the Trust Deed
(see enclosed schedule)
Accountancy and Legal
Insurance
Loss on dispsoal of shares
Charles Stanley Management Charges
Loss on market value of shares
Net Receipts|514
84,650
2,640
925
-
6,355
-|£
**2021**
45,425
2,392
13,998
22,564
1,362
106,984
192,725
95,084
97,640|608
56,570
2,640
771
8,800
7,057
28,118|£
**2020**
30,893
1,563
-
22,072
2,084
-
56,611
104,565
47,953
-| |---|---|---|---|---| ## **HILL HOUSE FOUNDATION TRUST** ## **ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021** |Represented by
Coutts & Co - (Current account)
Coutts & Co - (Special Reserve account)
Skipton Building Society Account
Hampshire Trust Bank
Other debtors
Amounts owed to Hill House School
Charles Stanley
Value of shares (fair value) (see schedule)
Capital account
Income account
Less: Balance as at 1 September 2019 brought forward
Prior year adjustment (value of shares to fair value)|2,729
16,081|£
**2021**
-
7,255
20,537
41,347
1,231
17,822
-
779,861
18,810
851,219
753,579
-
97,640|1,441
12,458|£
**2020**
-
29,811
20,462
40,951
-
17,825
-
666,280
13,900
753,579
801,533
-
47,954
-| |---|---|---|---|---| **HILL HOUSE FOUNDATION TRUST YEAR ENDED 31 AUGUST 2021** ## **Payments** ## **YE: 31/08/21 Payments as per clause 3 of Trust Deed** |**YE: 31/08/21**
**Payments as per clause 3 of Trust Deed**||| |---|---|---| |**eq**
**Description**
**Amount**
CHEQUE 000396 TO HILL HOUSE
11200
CHEQUE 000398 TO HILL HOUSE
11000
CHEQUE 000397 TO R SUA
2000
CHEQUE 000406 TO HILL HOUSE
3000
CHEQUE 000405 TO R S
2000
CHEQUE 000410 TO HILL HOUSE
3600
CHEQUE 000411 TO HILL HOUSE
4125
CHEQUE 000412 TO HILL HOUSE
5800
CHEQUE 000413 TO HILL HOUSE
9650
CHEQUE 000417 TO HILL HOUSE
3000
CHEQUE 000423 TO HILL HOUSE INTERNATIONAL JUNIOR SCHOOL
26275
CHEQUE 000426 TO HILL HOMES
3000||**Notes**
**84650**| |Amounts owed to School from the prior year:
17825
School Fees Received incorrectly:
79166.66
Amounts paid to School during year:
0
Amounts owed to School at year end:
-17822.66
Total:
**Interest Received**||79169| |Coutts Account
Hampshire Trust Account
Skipton Building Society Book
Charles Stanley Portfolio|2.03
395.49
74.37
1920.05|| ||2391.94|| |**Donations Received**||| |Coutts:|45424.72|| |_Move Dixon Ward cheque payment to Other Debtors:_||| |_COther Debtors (liabilty)_
_1,230.80_||| |_DWellers (expense)_
_1,230.80_||| **----- Start of picture text -----**
Hill House Foundation Trust Key Below (Bottom of the table).
Charles Stanley Investment Portfolio
Year Ended 31 August 2021
Quantity Cost - 01/09/21 Cost - 01/09/20 Cost - 01/09/19 Value - 31/08/21 Value - 31/08/20 Value - 31/08/19 Gain/Loss
Description B/fwd Additions/ Disposal Quantity Base cost B/fwd Additions Disposal Base cost B/fwd Additions Disposal Base cost B/fwd Additions Disposal Base cost Market Price Market Value Base cost Market Price Market Value Base cost Market Price Market Value Proceeds Gain/(Loss)
at book cost at book cost at book cost on disposal
FIXED INCOME
Corporate Bonds
Liontrust Fund Partners LLP - Monthly Income Bond P 23,540.49 23,540.49 24,942.23 24,942.23 24,942.23 24,942.23 1.0247 24,121.94 24,942.23 1.02 24,058.38 24,942.23 1.02 24,064.09
Global / Strategic
Aviva Investors UK SVCS LTD - Higher Income Plus 2 34,514.06 34,514.06 26,458.72 26,458.72 26,458.72 26,458.72 0.8075 27,870.10 26,458.72 0.79 27,128.05 26,458.72 0.78 27,003.80
UK Equity
Oil & Gas Producers
BP Ord USD0.25Royal Dutch Shell 'B' Ord Eur0.07 3,400.001,370.00 - 1,370.00 3,400.00- 17,533.1525,755.42 25,755.42 25,755.4217,533.15 17,533.1525,755.42 17,533.15- 2.9695- 10,096.30- 25,755.4217,533.15 10.632.64 14,563.108,982.80 25,755.4217,533.15 22.655.00 17,006.8031,030.50 14,285.71 - 277.39
Mining RIO TINTO ORD GBP 0.10 - 280.00 280.00 - 18,895.40 18,895.40 53.8200 15,069.60 -
Construction & Materials
Marshalls ORD CBP0.25 6,318.00 6,318.00 26,767.75 26,767.75 26,767.75 26,767.75 8.0850 51,081.03 26,767.75 6.36 40,182.48 26,767.75 6.94 43,846.92
General Industrials
Smith(DS) ORD CBP0.10 4,749.00 4,749.00 24,931.79 24,931.79 24,931.79 24,931.79 4.4240 21,009.58 24,931.79 2.59 12,285.66 24,931.79 3.40 16,146.60
Industrial Transportation ASHTEAD GROUP ORD GBP 0.10 391.00 391.00 - 18,846.81 18,846.81 56.9000 22,247.90 - - -
Beverages Diageo ORD GBP0.28 101/108 680.00 680.00 6,984.54 10,271.38 3,286.84 10,271.38 3,286.84 6,984.54 34.9400 23,759.20 6,984.54 25.10 17,064.60 10,271.38 35.04 35,035.00
Household Goods & Home Construction Bellway GBP0.125 612.00 612.00 19,910.89 19,910.89 19,910.89 19,910.89 35.1900 21,536.28 19,910.89 23.89 14,620.68 - - -
Pharmaceuticals & Biotechnology Astrazeneca ORD US0.25 500.00 500.00 14,781.04 14,781.04 14,781.04 14,781.04 85.1400 42,570.00 14,781.04 83.40 41,700.00 14,781.04 73.18 36,590.00
Glaxosmithkline ORD GBP0.25 1,600.00 1,600.00 19,971.63 19,971.63 19,971.63 19,971.63 14.6200 23,392.00 19,971.63 14.72 23,552.00 19,971.63 17.12 27,385.60
Travel & Leisure Carnival PLC - - - 19,925.91 19,925.91 19,925.91 19,925.91 - - - - - - 19,925.91 34.48 16,033.20
Electricity
SSE PLC GBP0.50 1,000.00 1,000.00 11,862.01 11,862.01 11,862.01 11,862.01 16.3250 16,325.00 11,862.01 12.59 12,590.00 11,862.01 11.51 11,510.00
Gas, Water & Multiutilities
Pennon Group ORD GBP0.407 2,000.00 - 667.00 1,333.00 11,508.31 11,508.31 11,508.31 11,508.31 12.4800 16,635.84 11,508.31 10.06 20,120.00 11,508.31 7.55 15,104.00
Banks HSBC Holdings PLC Ord US0.50 - - - 26,881.89 26,881.89 26,881.89 26,881.89 - - - - - - 26,881.89 5.91 21,864.06
Life Insurance
Prudential GBP0.05 1,500.00 1,500.00 8,023.16 8,023.16 8,023.16 8,023.16 15.1500 22,725.00 8,023.16 12.22 18,322.50 9,303.61 13.68 20,520.00
Real Estate Investment Trust Primary Health Properties PLC Ord GBP0.125Unite Group OrdGBP0.25 10,959.001,720.00 10,959.001,720.00 16,899.7819,897.27 16,899.7819,897.27 16,899.7819,897.27 16,899.7819,897.27 12.22501.6850 18,465.9221,027.00 16,899.7819,897.27 1.529.68 16,701.5216,641.00 -- -- --
Financial Services LIONTRUST ASSET MANAGEMENT PLC ORD GBP0.025 1,004.00 1,004.00 - 18,956.52 18,956.52 23.5000 23,594.00 - - -
Equity Investment Instruments
Mercantle Investment TST PLC (The) Ord GB0.25 10,000.00 10,000.00 12,627.00 12,627.00 12,627.00 12,627.00 2.9000 29,000.00 12,627.00 1.94 19,400.00 12,627.00 2.01 20,100.00
International Equity
North America Bank of America Corporation COM USD0.01 750.00 - 750.00 - 18,189.54 18,189.54 18,189.54 18,189.54 - - - 18,189.54 19.21 14,409.61 18,189.54 16,932.50 13,813.71 - 595.90
Blackrock North Amer Income TST PLC ORD GBP0.01North American Income TST (THE) PLC ORD GBP0.25Microsoft Corp Com USD0.00000625COMCAST CORP COM USD0.01 CL A TEXAS INSTRUMENTS INC COM USD1.00 15,307.00141.00- 454.00197.00 15,307.00141.00454.00197.00- 24,740.9422,941.17--- 18,868.6925,116.98 13,511.6524,740.94 22,941.17 13,511.65 24,740.94 22,941.17 22,941.1724,740.9418,868.6925,116.98- 219.4114138.739444.09441.9050- 30,937.0127,331.6529,159.8420,018.88- 24,740.9422,941.17- 168.091.53- 23,701.3123,343.18--- 13,511.6524,740.94- 1.942.91- 29,695.5821,825.00-
Europe (excluding UK)
Enel SPA EUR1Siemens AG NPV (REGD)Siemens Energy AG NPV 5,676.00179.0089.00 5,676.00179.0089.00 26,978.0015,414.761,495.07 - - 16,920.2926,978.00 26,978.0016,920.29 26,978.0015,414.761,495.07 120.187021.14336.6081 21,513.4737,507.321,881.76 26,978.0016,920.29 104.106.75 18,634.6738,308.12 26,978.0016,920.29 33,858.9114,657.15
Asia Pacific Henderson Investment Funds LTD - Asian DIV IncomeSchroder Oriental Income Fund Toyota Motor Corp NPV 19,164.44- - 19,164.44345.00- 345.00-- 24,863.76-- 18,666.36 24,863.76 24,863.768,743.64 8,743.64 24,863.768,743.64 8,743.64 18,666.36-- 63.4413-- 21,887.26-- 24,863.76- 1.09- 20,850.91-- 24,863.768,743.64 2.531.29 24,664.6317,710.00 21,751.64 900.73
Global
Alliance Trust ORD0.25Polar Capital Global Financials TR ORD CBP0.25 2,600.00- - 2,600.00- 8,224.41- 24,710.608,224.41 24,710.60 24,710.608,224.41 24,710.60 8,224.41- 10.3800- 26,988.00- 8,224.41- 8.21- 21,346.00- 24,710.608,224.41 7.981.35 20,748.0023,483.25
Scottish American Investment Co ORD GBP0.25 10,100.00 10,100.00 23,455.72 23,455.72 23,455.72 23,455.72 5.1900 52,419.00 23,455.72 4.28 43,228.00 23,455.72 4.12 41,612.00
Scottish Mortgage INV Trust ORD GBP0.05 8,000.00 - 6,544.00 1,456.00 7,892.51 6,456.07 7,892.51 7,892.51 1,436.44 13.6900 19,932.64 7,892.51 9.62 76,920.00 7,892.51 5.20 41,600.00 76,891.00 13,970.44
Property
Property Investment Trittax Big Box Reit PLC ORD GBP0.01M&G PLC Ord GBP0.05 -- -- -- - -- 21,745.33 22,831.88 21,745.3322,831.88 21,745.33 22,831.88 22,831.8821,745.33 -- - -- - - - 21,745.33 1.40 21,473.13
Alternatives
Infrastructure & renewable Energy The Renewables Infrastructure GRP ORD NPV 13,203.00 13,203.00 16,891.32 16,891.32 16,891.32 16,891.32 1.2580 16,609.37 16,891.32 1.37 18,061.70 16,891.32 1.30 17,163.90
3I Infrastructure ORD NPV 13,526.00 13,526.00 22,054.30 22,054.30 22,054.30 22,054.30 3.1900 43,147.94 22,054.30 2.93 39,563.55 22,054.30 2.99 40,442.74
193,197.99 - 25,824.44 167,373.55 £ 501,996.19 £ 119,350.76 £ 75,264.79 £ 541,163.40 £ 102,480.99 £ 141,637.74 £ 584,359.69 £ 45,773.05 £ 128,126.09 £ 546,082.16 £ 779,860.81 £ 502,006.65 £ 666,279.81 £ 542,443.85 £ 729,107.36 £126,742.06 £ 13,997.88
**----- End of picture text -----**
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Sectlon A Independent Examiner's Report Report to the trustegsl membars of Hill House Foundation Trust On accounts for the year endèd 31st Auqust 2021 Charity no (if any XR95571 Set out on pagas I report to the trustees on my examination of the accounts of the above charity I'the Trust") for the year ended 3 1 / 0 8 / 2 02 1 Responslbllltles and As the charity trustees of the Trust, you are responsible for the preparation basls of report of the accounts in accordance With the requirements of the Charities Act 20111 the Act") I report In respect of my examination of the Tru51's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 14515)(bl of the Act. I have completed my examination. I confirm that no materlal mallers have come lo my attention {other than that disclosed b81ow "l in connection with the examination which gives me cause to b81iev8 that in, any matèrial respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with thè accounting records Independent examlner's statement I have no Concerns and have come across no other matters in connection with the examination to which attention should be drawn in order lo enable a proper understanding of the accounts to be reached. Please delete fhe words in the brackets if they do not apply. Signed: Date: L7 May 2022 Name: Kathleen Parker Relevant professional quallflcationls) or body Irf any): F.C.C.A. Address". Wellers I Vincent Square London, ShTIP 2PN IER October 2018 Section B Disclosure Only complete if the examiner needs to highlight matters of conc&m (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wlshes to discloso. IER October 2018