2022-08-31-accounts - Stonyhurst

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Trustees' Annual & Strategic Report	3
• Background of StonyhurstCollege	3
• Key Information incTrustees, ManagementPersonnel & Service Providers	4
• Structure, Governance and Management	5
• Objectives and Activities	8
• Achievements and Performance	9
• Financial Review	15
• Future Policy	19
Auditor's Report	`22`
Consolidated Statementof Financial Activities	`25`
Consolidated and Charity Balance Sheets	`26`
Consolidated Cash Flow Statement	27
Notestothe Accounts	`28`

College, Hurst Green, Clitheroe, Lancashire, BB7		•	We	have	used the 2022 UK Conversion Factors for	used the 2022 UK Conversion Factors for	used the 2022 UK Conversion Factors for
9PZ			Company Reporting in accordance with the guidance
The reporting periodthatthis submission covers is	I st		provided.
September 202I to 3IAugust2022.		•	We	have	used the financial control approach, but as
We have followed the HM Government			our	organisation is a single entity,			there are no other
Environmental Reporting Guidelines: including			businesses to consider.
streamlined energy and reporting guidance March		•	We	have	measured our Scope	I and Scope 2
2019.			emissions. We have assessed there were no scope 3
• We have used data collected specifically for the			emissions		requiring inclusion.
purpose of SECR reporting.		•	We	have	also reported onthe	renewable energy
			generated and consumed on site.
				Current Reporting			Previous Reporting
				Year (I September			Year(I September
					2021 - 3 I August		2020 - 31 August
					2022)		2021)
Mandatory Information
Total annual energy consumption used to calculate emissions		in kWh
					9,768,802 kWh		8,432,381 kWh
Total annual gas consumption for combustion purposes	in kWh				1,683,972 kWh		1,393,605 kWh
Total other fuel consumption for combustion purposes	in kWh				5,608,655 kWh		4,996,479 kWh
Total annual purchased electricity consumption in kWh					2, I 28,068 kWh		1,724,750h
Total annual transport fuel use in kWh					381,001 kWh		317,547 kWh
Total emissions from combustion ofgases in tCO (Scope I)					1,897.63 tCO		1,628.70CO
Emissions from combustion of fuel for transport purposes in tCO (Scope I)					97.60 tCO		81.11 tCOe
Emissions from purchased electricity in tCO (Scope 2)					411.53 tcO		366.22CO
Total grosstCO based on above [mandatory]					2,406.76 tCO		2,076.03 CO
Intensity Ratio: chosen ratio is tCOperm floor area					0.1169 tCO		0.10I tCOe
Voluntary
Total annual renewable heatgenerated from owned on-site wood			fuel		3,192.08 MWh		3,188.29 MWH
biomass boiler installation in MWh

		Notes	Unrestricted	Restricted	Total 2022	Total 2021
			£	£	£	£
Income and Endowments From:
Charitable Activities
School Fees		I	I8,392,952		18,392,952	13,972,366
Other ancillary income		2	852,726		852,726	356,81 I
Other trading activities
Tradingturnover		8	126,579		126,579	68,561
Voluntary Sources
Donations and Fundraising		3		966,694	966,694	667,503
Investment Income		4	806,645		806,645	745,51I
Other Income
Profit on disposal of fixed assets			731		731	150,191
GovernmentCJRS Income			4,640		4,640	438,536
TOTAL			20,184,272	966,694	21,150,966	16,399,479
Expenditure On:
Raising Funds
Trading expenses			I34,43l		I34,43l	118,119
Fundraising costs			411,379		411,379	310,800
Financing costs			564.872		564,872	390,066
Total			1,110,682		1,110,682	818,985
Charitable Activities
Education and Grant making			20,003,702	966,694	20,970,396	18,700,570
TOTAL		6	21,114,385	966,694	22,081,079	19,519,555
NetGains on Investments
(Loss)/Gains on investment assets		7	(1,394,199)		(1,394,199)	6,172,992
Realised gains on investmentproperty		7				5,858
Revaluation of investment property		7				1,357,822
Impairment of residential property						(273,372)
Net Expenditure			(2,324,311)		(2,324,311)	4,143,224
Net Movement in Funds			(2,324,311)		(2,324,311)	4,143,224
Fund Balances brought Forward at	I st		63,349,395	54,28l	63,403,676	59,260,45I
September 2021
Fund Balances carried Forward 3ls	August		61,025,084	54,28l	61,079,365	63,403,676
2022

					Stonyhurst	Stonyhurst
		Group			(Charity)
	Notes	`2022`		`2021`	`2022`	`2021`
		£		£	£	£
Fixed Assets
Investments	7	38,590,544		41,593,233	38,584,720	41,587,104
Tangible Fixed Assets	9	37,607,942		36,095,536	37,607,942	36,095,536
		76,198,486		77,688,769	76,192,662	77,682,640
Current Assets
Debtors	10	1,616,992		1,596,971	1,844,354	1,825,410
Cash at Bank		625,884		26,598	625,884	17,672
		2,242,876		1,623,569	2,470,238	1,843,082
Creditors: Amounts Falling
due within one year
Creditors	II	(6,644,133)	(	I0,323,660)	(6,644,133)	( I0,314,734)
Net Current Liabilities		(4,401,257)		(8,700,091)	(4,173,895)	(8,471,652)
Total assets less liabilities		71,797,229		68,988,678	72,018,767	69,210,988
Creditors: Amounts falling due after
more than one year
Creditors	12	( I0,717,864)		(5,585,002)	(10,717,864)	(5,585,002)
Total Net Assets		61,079,365		63,403,676	61,300,903	63,625,986
Restricted Funds	I4	54,28l		54,28l	54,28l	54,281
Unrestricted Funds	14	61,025,084		63,349,395	61,246,622	63,571,705
Total Funds		61,079,365		63,403,676	61,300,903	63,625,986

	Notes	2022	2021
		£	£
Cash absorbed by operations	16	(583,756)	(7,151,578)
Interestpaid		(256,776)	(131,859)
Netcash used in operatingactivities		(840,532)	(7,283,437)
Investing activities
Purchase oftangible fixed assets		(2,483,777)	(580,443)
Cash drawdown in listed investments		2,034,041	1,968,184
Proceedsfrom disposal of investment		25,000	385,858
property
Proceedson disposal oftangible fixed assets		731	478,691
Investment income received		806,645	745,511
Net Cash from investing activities		382,640	2,997,80 I
Financing Activities
Repaymentof borrowings		(6,585,124)	(183,783)
Newborrowings		9,000,000	2,000,000
Net Cash generated from financial		2,414,846	1,816,217
activities
Net increase/(decrease) in cash and		1,956,984	(2,469,419)
cash equivalents
Cash and Cash equivalentsatbeginningof		(1,331,571)	I, 137,847
year
Cash and Cash Equivalents at end of		625,413	(1,331,572)
the year
Relating to:
Bankbalances and short-term deposits		625,884	26,598
Bank overdrafts		(471)	(1,358, 169)
Total		625,413	(1,331,572)

SCHOOL FEES	2022	2021
	£	£
FEES RECEIVABLE
Total Gross Fees	21,851,450	17,581,290
Less: College allowances, bursaries and scholarships	{4,095,381)	{4,089,070)
	17,756,069	13,492,221
Plus: bursaries, scholarships and awards paid for by restricted funds	636,883	480,145
Total	18,392,952	13,972,366

OTHER ANCILLARY INCOME	2022	2021
	£	£
Registration	60,300	64,355
Grant commissions and rebates	6,317
Educational activities	786,108	292,456
Unrestricted	852,726	356,811

DONATIONS & FUNDRAISING	2022	2021
	£	£
Donations and Annual Fund	215,426	187,357
Stonyhurst Foundation	751,268	480,145
Stonyhurst Children's Holiday Trust
Total	966,694	667,503

4.	INVESTMENT INCOME	2022	2021
		£	£
	Rent Received	348,836	370,240
	Investment income	457,809	375,271
			---
	Total	806,645	745,511
vest	mentincome is creditedtounrestrictedfunds in both 2022 and 2021.
5.	EXPENDITURE	2022	2021
		£	£
	EXPENDITURE ON CHARITABLEACTIVITIES INCLUDES:
	Depreciation	970,640	909,565
	OTHER EXPENDITURE INCLUDES:
	Amounts payableto RSM UKAudit LLP and its associates
	AuditServices
	Statutory auditofparentand consolidated accounts	30,500	30,400
	Statutory auditofsubsidiaryaccounts	5,500	6,100
	Teachers' Pension Scheme audit	1,200	925
	Other Services:
	Non-auditServices	13,259	9,144
	Trustees' expenses- relatingtotravel and accommodation	8,587	2,969
Expenseswere reclaimed by7 members (2021: 3) ofthe Governing Body.
	FINANCE COSTS	2022	2021
		£	£
	Intereston bank loansandoverdrafts	245,526	131,859
	Total	245,526	131,859
	TOTAL STAFF COSTS COMPRISED:	2022	2021
		£	£
	Wages and Salaries	10,397,729	I0,456,966
	Social Securitycosts	941,006	915,586
	Pension Costs (note 17)	1,247,140	1,312,649
	Total	12,585,875	12,685,20 I

	2022	2021
	£	£
Teaching/Pastoral Staff	217	217
Support Staff	200	200
Total	417	417
	2022	2021
	No.	No.
£60,001 - £70,000	5	3
£70,00 I - £80,000	I	I
£80,00 I - £90,000	2	2
£90,001- £I00,000
£100,001 - £110,000
£ I50,00 I - £ 160,000
£ I60,00 I - £ 170,000

ANALYSIS OF TOTAL	Staff	Other	Depreciation	Total
RESOURCES EXPENDED	Costs	£	£	£
	£
Expenditure on raising funds
Trading Dev Co	69,365	65,066		134,431
Interest and bank charges		360,285		360,285
Investment managers fees		204,587		204,587
Fundraising costs	302,968	108,411		411,379
Total	372,333	738,349		1,110,682
Expenditure on charitable activities
Teaching costs	8,022,248	1,252,321	385,659	9,660,228
Welfare	1,405,136	960,312		2,365,448
Premises	1,486,439	2,835,024	592,232	4,913,696
Support costs of schooling	1,299,719	2,094,423		3,394,142
Grants, awards and prizes		636,883		636,883
	12,213,542	7,778,964	977,891	20,970,397
Total resources expended	12,585,875	8,517,313	977,891	22,081,079
Governance costs (included within		28,105		28,105
support costs of schooling)

Group	Investments	Cash	Properties	Total
MarketValue
AtSeptember 2021	33,479,478	3,303,430	4,810,325	41,593,233
NetAdditions/Disposals	202,155	174,661	25,000	401,816
Cashdrawn	(2,0 I0,000)			(2.,010,000)
Investmentgains/(losses)	(1,394,505)			(1,394,505)
Revaluationof investmentproperty
At 3 I August2022	30,277,128	3,478,091	4,835,325	38,590,544
Charity
MarketValue
AtSeptember 2021	33,473,349	3,303,430	4,810,325	41,587,104
NetAdditions/Disposals	202,155	174,661	25,000	401,816
Cash drawn	(2,010,000)			(2,010,000)
Investmentgains/(losses)	(1,394,200)			(1,394,200)
Revaluationof investmentproperty
At 3 I August2022	30,271,304	3,478,091	4,835,325	38,584,720
Historical Depreciation	2022	2021
Deemed Cost	2,327.003	2,335,140
Aggregate depreciation	455,70I	447,564

Profit and loss for year ended 31 August 2022	2022	2021
Turnover	126,579	68,561
Cost of Sales	(121,267)	( I07,447)
Gross Profit/(Loss)	5,312	(38,886)
Admin expenses		110
Operating Profìt/(Loss)	5,312	(38,996)
Loan interest payable to Stonyhurst	(13,164)	( I0,561)
Net (Loss)	(7,852)	(49,557)
Balance sheet as at 3 I August 2022
Fixed Assets
Debtors
Cash at Bank		8,926
Creditors
Net Current Liabilities		8,926
Total assets less current liabilities		8,926
Stonyhurst loan	(227,363)	(228,439)
Net Liabilities	(227,363)	(219,513)
Share Capital	3	3
Retained Loss	(227,366)	(219,516)
Shareholders Funds	(227,363)	(219,513)

Stonyhurst Charitable Fund	`2022`	`2021`
Net (loss)/gains on investment assets	(305)	549
NET MOVEMENT IN FUNDS	(305)	549
RECONCILIATION OF FUNDS
Total Funds Brought Forward	6,129	5,580
TOTAL FUNDS CARRIED FORWARD	5,824	6,129
Balance Sheet as at 3 I August	`2022`	`2021`
INVESTMENTS
Quoted Investments	5,824	6,129
FUNDS
Unrestricted Funds	5,824	6,129

TANGIBLE FIXED ASSETS
CHARITY and GROUP	School	IT&	Residential	Motor	Assets
	land &	catering	properties	Vehicles	under	Total
	buildings	equip			construction
Cost (orfrozen* valuation)	18,417,209	2,625,844	20,072,294	356,689	192,424	41,664,460
Brought Forward
Additions	1,599,705	690,987	159,243	33,842		2,483,777
Disposals		(0,421,152)		(95,304)		(1,516,456)
Transfer					(192,424)	(192,424)
Revaluation
As at 31 August 2022	20,016,914	1,895,679	20,231,537	295,227		42,439,357
Depreciation Brought Forward	3,168,471	1,910,705		297,324	192,424	5,568,924
Charge forthe year	501,123	462,304		7,213		970,640
Transfer		(1,421,152)			(192,424)	(1,613,576)
Disposals				(94,573)		(94,573)
As at 3l August 2022	3,669,594	951,857		209,964		4,831,415
As at 31 August 2022	16,347,320	943,822	20,231,537	85,263		37,607,942
As at 3l August 202 I	I5,248,738	715,139	20,072,294	59,365		36,095,536

Debtors	Group		Charity	Charity
Group	`2022`	`2021`	`2022`	`2021`
Trade debtors	416,378	383,387	416,378	383,387
Prepayments and accrued income	136,277	44,399	136,277	44,399
Other debtors	64,337	140,834	64,337	140,834
Secured loan (CHC loan see note [ 18])	1,000,000	1,028,351	1,000,000	1,028,351
Amountdue from group undertakings			227,363	228,439
Total	1,616,992	1,596,971	1,844,354	1,825,410

Creditors (Amounts due within	Group	Group		Charity	Charity
Group	`2022`		`2021`	`2022`	`2021`
Bank Overdraft	471		1,358,169	471	1,349,243
Bank Loan -Jesuit Loan	1,175,522		4,093,953	I, 175,522	4,093,953
Creditors and accrued expenses	958,057		427,061	958,057	427,061
Fees received in advance (includes parents deposits)	3,940,608		3,999,363	3,940,608	3,999,363
Other taxes and social security	449,780		234,041	449,780	234,041
Other creditors	119,695		211,073	119,695	211,073
Total	6,644, I33	I	0,323,660	6,644,133	10,314,734

Creditors (Amounts due after more than one	Group		Charity	Charity
year)
	`2022`	`2021`	`2022`	`2021`
Loans	9,664,742	4,848,000	9,664,742	4,848,000
Parental Deposits	1,053,122	737,002	1,053,122	737,002
Total	10,717,864	5,585,002	10,717,864	5,585,002

MATURITY OF DEBT	`2022`	`2021`
Bank and Jesuit loans amounts payable within:
I year	I, 175,522	4,093,953
I to 2years	I, 184,980	1,632,000
2to 5 years	400,400	2,896,000
More than 5 years	8,079,362	320,000
Total	10,840,264	8,941,953

			`2022`	`2021`
Within	2	to 5 years	534,488	368,501
Within	I	to 2years	518,634	368,501
Total			1,053,122	737,002
Within	I	year (included within fees in advance with note [ I I])	518,633	379,668
Total			1,571,755	I, 116,670

				Group	Group
	Fees in Advance (Note 12 continued)			2022	2021
	Within I year (includedwithin fees in advance	within note	[11])	2,130,542	3,619,695
	Total			2,130,542	3,619,695
				Group
13.	Financial Instruments			2022	2021
	Financial assets
	Debt instruments measured atamortised cost			I,480,714	1,552,572
	Total			I,480,714	1,552,572
	Financial liabilities
	Measured atamortised cost		11,918,487		10,938,256
	Total		11,918,487		10,938,256
14.	Allocation of the Group Net Assets - 3 I	Fixed	NC	LT	Total
	August 2022	Assets	Liabilities	Liabilities
	Unrestricted funds	76,138,381	(4,401,257)	(10,717,864)	61,019,260
	Restricted funds	54,281			54,28l
	Unrestricted funds- StonyhurstCharitable Fund	5,824			5,824
	Total	76,198,486	(4,401,257)	(10,717,864)	61,079,365
	Allocation of the Group Net Assets - 31	Fixed	NC	LT	Total
	August 2021	Assets	Liabilities	Liabilities
	Unrestricted funds	77,628,359	(8,700,091)	(5,585,002)	63,343,266
	Unrestricted funds- StonyhurstCharitable Fund	6,129			6,129
	Restricted funds	54,28l			54,28l
	Total	77,688,769	(8,700,091)	(5,585,002)	63,403,676
	Allocation of the Charity Net Assets - 3 I	Fixed	NC	LT	Total
	August 2022	Assets	Liabilities	Liabilities
	Charity
	Unrestricted funds	76,138,381	(4,173,895)	( 10,717,864)	61,246,622
	Restricted funds	54,28l			54,281
	Total	76,192,662	(4,173,895)	(10,717,864)	61,300,903
	Allocation of the Charity Net Assets - 3 I	Fixed	NC	LT	Total
	August 2021	Assets	Liabilities	Liabilities
	Charity
	Unrestricted funds	77,628,359	(8,471,652)	(5,585,002)	63,571,705
	Restricted funds	54,28l			54,28l
	Total	77,682,640	(8,471,652)	(5,585,002)	63,625,986
					42

Group Funds	Balance	Incoming	Resources	Balance
RESTRICTED FUNDS	I Sept 2021	Resources	Expended	31 Aug
				2022
GROUP AND CHARITY	£	£	£	£
Stonyhurst Children's HolidayTrust	54,281			54,281
Total	54,281			54,28l

Cash Flow Statement	2022	2021
	£	£
Net (expenditure)/income	(2,324,31 I)	4,143,224
Adjustments for:
Gains on investment assets	1,394,199	(6,172,992)
Realised gains on investment properties		(5,858)
Revaluation on investment properties		(1,357,822)
Impairment on residential properties		273,372
Interest payable	256,776	131,859
Investment income	(806,645)	(745,511)
Depreciation charge	970,640	909,565
Impairment of tangible fixed assets (net of reallocations)
Profit on disposal of tangible asset	731	(150,191)
Sub-total	(508,611)	(2,974,354)
Movement in working capital
Increase in debtors	20,021	25,396
Increase in creditors	(95,166)	{4,202,620)
Net Cash (outflow) from operating activities	(583,756)	(7, I51,578)

Net Debt Table	Start of	Cash	Acquisition	New	Other	At end of
	Year	Flows		Finance	non-cash	year
				Leases
	£	£	£	£	£	£
Cash	26,598	599,286				625,884
Cash equivalents
Overdraft facilities	(1,359,169)	1,357,698				(471)
repayable on demand
Sub Total	(1,331,571)	1,956,984				625,413
Loans due within one	(4,093,953)	2,918,431				(I, 175,522)
year
Loans due after more	(4,848,000)	(4,816,742)				(9,664,742)
than one year
Finance lease obligations	(202,738)	392,146		(974,516)		(785,108)
Total	( I0,476,262)	450,819		(974,516)	-	( 10,999,959)

	2022	2021
	£	£
Amounts due:
Within one year	388, I 54	121,711
Between one and five years	396,954	81,027
Total	785,108	202,738