Janiess
Place
Charitable
Foundation
ANNUAL REPORT
31 Decembor 2022
Charliy Reglstratlon Number:1144606
Company Registrutlon Number. 7819270

ST. JAMES'S PLACE CHARITABLE FOUNDATJOIY
Annual Report for the year ended 31 December 2022
Contents
Page(s)
Chair's Report
Trustees, Annual Repoit
Statement of Trustees, Responsibilities
10
Independent Auditors, Report to the members of St. Jomes's
Place Charitable Foundation
statement of Financial Activitles
15
Balance Sheet
16
Cosh Flow Statement
17
Notes to the Financial Statements
18-28

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Chalr's Report
Revlew of 2022
2022 was a significant ygar in the history of the Foundation as w8 celgbrated 30 years of
givin9 our help and support to charities both in the UK and across the world. Now one ol the
largestcorporote Foundations in the UKweore humbled by thegenerosity ond commitment
of the SJP community and their passion to make o posltlve dlfterence Sn their communitles.
We ore pleased to report that in 2022,withthefurther Ilftlng of pondemic
restrictions fundraising activitles recovered to more of the pre-pandemic level with the St.
James's Place (sJpl communlty responding positively. Consequently, together with the
company motching, we raised (sn Impressive £10.4m. This has enabled us to Increase our
grant-making activity and be there for many charities struggling with the longer-term
impact that COVID and the beneficiaries they support. The total raised ond gronted, slnce our
inception in1992, is now over £120m.
As ever the fundraising efforts of the SJP community were many and voried, with a return to
office working office-based fundraising activitles were back on the calendor. Beyond the
office we sawmanygoll days bythe Pa¥tnership,whlch ralsed over £200,000 and Fundraising
Balls. The Cambridge SJP Location even held a Talent Nlght, from across their local
community, raising almost £50,000. Members of the SJP communlty also took part in some
of the more physically challenging events suchosacyclerldein Italy, Trekking in
Bavaria and Nepal, and even climbing to Ever8St Base Camp whlch collectlvely ralsed almost
£600,000.
The SJP community also showed thelr generosity and community splrlt beyond the UK
borders, to exceptional global events. Special Appeals were launched in support of. those
impacted by the conflict in Ukraine, which raised £1.4m to support the leading humanitarian
charities, such as Red Crossond Disasters Emergencycommittee {DEC) who provided onthe
ground frontllne aid. In August following the flooding trogedy in Pokistan a further £lOO,000
was raised and distributed to the DEC.
Underpinning all of the above, we are proud that the regular monthly giving scheme
continues to be a core fundraising mechanic for the Foundation. 85/0 of SJP Partners and
employees contribute to this, which raises abovt o third of our annual Income. As noted
previously this is essentiol to our multi-yeai gront making, knowlng that we have thls regular
income to be ablg to pledge forward.
I would like to take this opportunity to thank the SJP Communlty and in particular, the
Foundation Representatives and Foundation Committees in each of the SJP Locations for
their generosity and continued commitment to the Charitable Foundatlon. In addition, I would
like to extend our thanks to the SJP shareholders for both supporting the day to day running
costs of the Charitable Foundation and their ongoing commitment to matchSng the
fundralsing activities.

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report foi. the year ended 31 Deccmber 2022
Helping to make a positlve and la$tlng difference to those less fortunate
In 2022 we distributed £IO.I milllon to 583 charities across the UK, Asia and other ports of the
world. Added to this, is a further £4.4m in pledges to support the multi-year grants over the
next 2-3 years.
As o funder we continue to focus on ensuring our grant-making is having the maximum
impact and our annual evaluation demonstrated that we continue to support substantive
and transformational change (delivering combined evidenced score of 64°A of beneficiaries
experiencing this) amongst the charities we support. We are also committed to listening to
our grantees and their chonging needs so that we can offer the right support to them. We are
Proud of the fact that we work collaboratively with grant portners, not only offering financial
support but also wider holistic support in terms of facilitoting access to the SJP community
who ore keen to share their skills and time to support a charity. We helped support thousands
of hours ol charitable volunteerlngi from mentoring ol young people, coaching senior leaders
in charities to delivering the Helping Hands progiomme lor our key partner charityi Wellchild,
to name just some of the activities.
We continued our commltment to kgy chority partners, such os Panathlon, who hove evolved
their delivery model off the back of COVID ond are now reaching out to even more young
people with disabllities. We committgd further funding to the Onside Youth Network to enoblg
them to reach thelr umbitions, pledging our support to 4 new locations across the UK,
enriching youth support services in disadvantaged communities. And our long-standing
partnership wlth Hope and Homes for Children was strengthened further whan w8 were able
to extend our support to them around the Ukraine crisis, ensuring the safety of thousands ol
chlldren caught up in the conflict.
We are honoured to workwith so many incredible charities, now more than ever and admire
their efforts and dedication in helping those in need.
Looklng aheod
The challenges to charities continue and the longer-term impact of COVID is still veiy evident,
together with emerging challenges such as the cost-of-living crisis, which serve to
exacerbate need even fuither omongst the charities we support. We aim to continue to build
on our success, working collaboratively with our charity partners, to ensure we can support
them in the right way and with maximum impact. We will also look to identify new partners
who we can support in their growth plans or plug gaps in service delivery whare there is real
need in under-funded geographic areas (as identified in our recent evoluation and mapping
exercise). We know that with the continued support and generosity of the SJP community we
can and will make a difference.
Andrewcroft
Chalr. St. James's Plocecharitable Foundalion

ST. JAMII S'S PLACE CHAIUTABLE FOUNDATION
Annual Report for the year ended 31 Decembei'2022
Trustee8' Annual Report
The Trustees. who are also Directors of the Chorlty for the purposes of the ComponSes Act
2006, preser)t their annual report along with the audited flnancial statements ol the Charity
for the year from l January 2022 to 31 December 2022. The flnancial statements have beèn
prepared in occordance with the accounting policies set out in Note I to the financial
statements and comply with the Charity's trust deed, the Charities Act 2011, the Companies
Act 2006 and the Statement of Recommended Practice Accountlng and Reporting by
Charities and FRS102.
Reference and Administrative Detalls
Charity name
Company registTatlon number
Charity number
St. James's Place Charitable Foundation
7819270
1144606
Tru$teo$ and Directors
Andrew Croft (Chair)
Andrew Humphries
lan Gascoigne
Malcolm Cooper-smith
Sli Mark Weinberg
Robert Medwyn Edwards
Sonia Gravestock
Bankars
Barclays Bank plc, Loicester, LE87 2BB
Bank ol Scotland plc, 150 Fountainbridge, Edinburgh, EH3 9PE
Investment managers
Goldman Sachs, 2 Stonecutter Street, London, EC4A 4AU
BlackRocL12 Throgmorton Avenue, London, EC2N 2DL
Independant Auditors
Principal Address
Prlcewaterhousecoopers LLP
2 Glass Wharf
Bristol
BS2 OFR
st. Jomes's Place House
l Tetbury Road
Cirencester
Gloucestershire
GL71FP

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Tru$tees' Annual Report Contlnued
Prlnclpal Olflcer$ (Managlng Commlttee)
Chair and Trustee
Andrew Croft
Trustees and Directors
Andrew Humphries
lan Gascoigne
Molcolm Cooper-smith
Sir Mark Weinberg
Robert Medwyn Edwards
Sonia Gravestock
Head of Choritoble Foundation
Catherine Ind
Objectives and activitles
The aims and objectives of the Charitable Foundation are to promote such purposes that are
exclusively charitable accordlng to the law in England and Wales as the Trustees shall
determine. In carrying out Its aims ond objectives, the Chaiitable Foundation moy receive and
make donation
The Trustees believe that their grant making policy is in keeping wfth thè Charity Commission's
guidance on publlc benefit.
We contlnue to focus our grant making on core themes..
Supporting children who are disadvantaged or have a physical or mental disability
Hospices
hAental health
Cancer support
Armed Services Iveterans
Such funding is always made through registered charities. Further details ol grants made can
be found in Note 4 of the Notes to the Financial Statements.
A¢hievomont & porlormunce
The Charitable Foundation, with the support ol the SJP community along with company
motching from SJP plc succeeded in raising £10.7 million (2021 £8.1 million).
During the year we granted £IO.I million (2021 £6.1 million), of which 80% went to chaiities within
the UK.
FLtrther details of the fundraising activities of The Charitable Foundation togeth9r with grants
mode can be found In the Chair's Report.

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Trusteas. Annual Report contlnued
structure. Govarnan¢e and Manag•ment
Th8 Charitoble Foundatlon 5s a company Incorporated under the Companies Act 2006, limited
by guarantee and not having a share capital. It is govelned by its memorandum and articles
of associotion. The power ol oppointing new Trustees of the Charitable Foundation is v8Sted in
the Trustees. The minimum number of Trustees to exercise anydlscretlon of power is three,whilst
a new Trustee may be appointed at any time, elther 0$ o replacement or as an additional
Trustee.
The Trustees and the Charitable Foundation Team, work wth the St. James's Ploce Group
community, cllents and suppliers to further the alms ond objectives ol the Charitable
Foundation.
Trusloolndu¢tion ond Trainlng
New Trustees are gTven a formal induction, wlth the opportunlty to meet members of the wider
Charitable Foundation teom, supported choritles and relevant materials such as copies of
previous reports, financial statements, minutes of Trustee and commlttee meetings, and a copy
of the Charity Commission's guidance'The Essentlal Trust&e'. What you need to KnoW'.
Updates on charity administration and sp8cialist artlcles are provlded by the Head of
Foundation as required.
Management
The Charitable Foundation is an Independent registered charity. Whilst Ihe Trustees have overall
responsibility for all activities carried out by the Charitable Foundation, the day-to-day
operations are undertaken by a dedicoted Charitable Foundation Team led by Catherine Ind,
who will refer any policy decisions Mthich need to be made to the Trustees. The Charitoble
Foundation Team is also supported by a voluntary committee of representatives from each of
the offices within the St. James's Place plc Group. St. James's Place plc also provide a number
of supplied semces to support the day- to-day operations of the charity, as specified in the
Collaboration IFramework Agleement between St. James's Place plc and the Charity.
Grant Mtsklng Pollcy
Recommendations for grants to be awarded under the current themes are made by a
delegated managlng committee and the Trustees os appropriate.

ST. JAIVIES'S PLACE CHAIUTABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Trust8e8' Annual Report continued
Grant maklng Impact on the¢harltles thecharltuble Foundatlon support
The Trustees produc8 seporately to the annual rewrt ond accounts, an annual Impact R8porL
which summarises and highlights the fundraising activities of the Charitabla Foundation, as w911
as both grant making and impact on the charlties the Charitable Foundation supports. A copy
ol the latest Impact Report can be downloaded from the internet aL ￿1p[￿￿.
Rlsk Management
The Trustees have a risk matrix, identifying all key risks for the Charitoble Foundation. These are
reviewed and assessed ateach Trustee meeting and the Trustees are sotlsfled that systems are
In place to mltigate the exposure to the major risks.
Key financial risk and controls include.. The Charitable Foundation holds cash until it is paid
out in grants, and a surplus ol cash usually builds up until it is paid out. The vast majority of
thls cash is held with highly rated banks and A rated Money Market Funds, which are available
on same day occess. Regular cashflow torecusts are produced which identifies the surplus
of cash above what will be paid out in grants in the following months. To obtain o higher
retum for some of the surplus an appropriate amount Is Invested with highly rated and
collaterolised Money Market Fixed Term Funds (currently up to three months in duration), and
with o A rated, environmentally oware, Money Morket Fund which is accessible on a same
day basis.
It is not the Charitable Foundation's intention to hold large amounts of funds in order to earn
investment income.
The impact of COVID restrSctions lifted in 2022 and income generation significantly improved,
that said we contlnuou8ly monitor the finances of the Charitable Foundation and make
adlustments to the level of grants made in occordonce with funds available. The overall
Hnancial statements for the Charitable Foundotion show a surplus position and the Trustees do
not see any long-term impact to the ability of the Charitable Foundation to continue to raise
funds and make charitable grants.
Investment Policy
There ore no rgstrictions on the Charitable Foundation to invest. The mojority of cash is held
within Money Market Funds or interest-bearing bank accounts where funds are available to
meet the cost of grants as and when they arise. An element of cash is Invested in Money Market
Fixed Term Funds with varying maturities to ensure that funds are available as required for grant
commitments. Surplus cash is retained until grants are pald out. Whllst interest is generated
from cash being held in interest bearing accounts. cash is raised for the purposes ol making
grants as opposed to being held long term as an investment.

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Repoit for the year ended 31 December 2022
Trusleo$' Annual Report contlnuod
Rèvlewof Fund$ and Funds pollcy
As at 31 Decgmber 2022 tho total funds were £6,482,606 (2021.. £6,111,021).
The Trustees r8view their Funds policy regularly throughout the yeor. The Chorltable Foundation
alms to have Cf Positive balonced position between the Funds held and the Contingent Llobilltles
for future giant& Funds were in excess ol contingent liabilities for future gronts during the current
year.
DIsclo$u￿OI Infi)rmatlon to uudltor8
The frustees who held office at the date of opproval of thls Trustees. report confirm thaL so far
as they are each aware, there is no relevont audit informution ol which the Charitable
Foundation's auditors are unawore,. and eoch Trustee has taken all the steps that helshe ought
to have taken as a Trustee to make himselflherself aware of any relevant oudit information and
to estoblish that the Charitable Foundatior) s auditors ore awore ol that Informotlon.
Small Company Provlslons
Thls report has been prapared in accordance with the special provisions for smoll ¢omponles
under Port 15 01 the Companies Act 2006. The Trustees have taken advantage of the small
companies exemption from preparing a Strotegic Report.
Golng concern
The Trustees ore satisfied that the Charitable Foundation can continue to use the going
concern basis in preporing the financiol statements. In making this assessment the Trustees
have considered the projected cash flows of the Chorltoble Foundatlon whlch show that the
Charitable Foundation has sufficient resources for the foreseeoble future.

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report foi'ihe year ended 31 December 2022
Statement of tru8tees' re8pon$lbilitles
The trustees (who are also directors of st. James's Place Charitable Foundation tor the
purposes of company law) ore responsible lor preparing the Trustees, Annual Report and the
financial statements in occordance with applicable law and regulation.
Compony law requires the trustees to prepare financial statements for each financiol year.
Under that law the trustees have prepared the financial statements In accordance with
United Kingdom Accounting Standards, comprising FRS 102"The Financlal Reporting Standard
applicable in the UK and Republic of Ireland- and appllcable low (United Kingdom Generally
Accepted Accounting Practice). Under compony law the trustees must not approve the
financial statements unless they are satlsfled that they glve a true and fair view ol the state
ol the affairs of the charitable comFX]ny and of the incoming resources ond application of
resources, including the income and expenditure, of the charitable compony for that period.
In preparing these linanclal statements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Stalement of Recommended Practlce=
Accounting ond Reporting by Charities (2019); and
make judgments and estimates that are reasonable and prudent.
The trustees are responsible for kooping odequate accounting records that are sufliclent to
show and explain the choritable company's transactions and disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets ol the charitable company and hence for taking
reasonable steps lor the prevention and detectlon ol fraud and other Irregularities.
This report was approved by the Trustees on 13 July 2023 and signed on their behalf by.
Andrew Crolt
Chalr ol Trustees
10

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 Decembei. 2022
Independent auditors. report to the membgrs ot st. James's Placg Charliablo Foundatlon
Report on the audlt ol the flnanclal statomgntts
Oplnlon
In our opinion, St. James's Place Chorltable Foundation's flnanclol statemgnts (the 'Yinancial
statements.
give a true and fair view of the state of the choritoble company's affairs as at 31
December 2022 ond ol its incoming resources and application of resources, including its
income and expenditure, and cosh flows, for the yeor then ended,.
have been properly prepared in occordonce with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standords, including FRS 102 "The
Financial Reporting Standard applicoble In the UK and Republic ot Ireland-, and
applicable law),. ond
have been prepared in occordonce wth the requlrements of the Companies Act 2006.
We have audited the financial stotements, included within the Annual Report (the "Annual
Report"), which comprise.. the balance sheet as at 31 December 2022; statement ol the
financial activities (incorporating on income and expendlture account), and cash flow
statement for the year then ended,. and the notes to the finunclal statements, whlch include
a description of significant accounting pollcles.
Basls for oplnlon
Wa conducted our audit in accordance with International Standttrds on Auditing (UK) ('ISAs
(UK)") and applicable law. Our responsibilities under ISAS (UK) ore further describ8d In the
Auditors, responsibilities for the audit of the financlal statements sectlon ol our report. We
believe that the audit evidence we hove obtoinèd Is sufficient and approprlate to provido a
basis for our opinion.
Indopgndanc•
We remoined independent of the charitable company In accordonce with the ethicol
requirements that are relevant to our oudit of the financial statements in the UK, which
includes the FRC'S Ethical Standord and we have fulfilled our other ethicol responsibilities in
accordance with these requirements.
Conclu$lons rolating to golng con¢ern
Bosed on th8 work we have performed, we have not identified any material uncertainties
relating to events or conditions that, individuolly or collectively, may cast significant doubt on
the choritable company's ability to continue as a golng concern for a period of at least twelve
months from the date on whlch the financial statements are outhorlsed tor issug.
In auditing the financial statements, we have concluded that the trustees, use of the golng
concern basls of accounting in the preparation of the financial statements is appropriate.
Howevor, bgcause not all future events or conditlons can be predicted, this conclusion Is not
a guorantoe os to the charitable compony's obility to continue as a golng concern.
Our responsibilities and th8 responsibilities of the trustees with respect to golng concern are
doscrib8d in the ielevant se¢tions of this report.

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Repoit foi. Ihe year ended 31 Decembei. 2022
Independent oudltors. report lo the membor8 ol St. James'$ Place Charltable Foundation
contlnued
Reportlng on other Informatlon
Tho other information comprises all of the information in the Annual Report other than the
flnoncial statements and ovr auditors, report thereon. The trustees are responsible lor the
other information. Our opinion on the financial statements does not cover the other
Information and, accordingly, we do not express an audit oplnion or, except to the exter)t
otherwise explicitly stated in this report, any form ol ossurance thereon.
In connectlon with our oudit of the financial statements, our responsibility is to read the other
information and, in doing so, conslder whether the other information is materially inconsistgnt
with the financial stotements or our knowledge obtained in the audiL or otherwise appears
to be materlally misstated. If we identify an apparent material inconslstency OT material
misstatement, we are requlred to perform procedures to conclude whether there is a
material misstatement of the financial statements or a moterial misstatement of the other
information. 11, based on the work we hove performed, we conclude thctt there is a mateiial
mlsstatement of this other Informotion, we are requlred to report that fact. We have nothing
to report bosed on these responsibilities.
With respect to the Trustees Annual Report, we also considered whether the disclosures
requlred by the UK Companles Act 2006 and Charities Act 2011 have been included.
Based on our work undertaken in the course of the oudit, the Companies Act 2006 requlres
us also to r8port certoln opinions and matters us described below.
Trustees. Annual Report
In our opinion, based on the work undertaken in the course of the audit the information given
in the Trustees, Annual Report lor the period ended 31 December 2022 is consistent with the
finoncial statements and has been prepared in accordcjnce with applicable legal
requirements.
In light of the knowledge and understanding of the charitable company and its environment
obtained in the course ol the audit, we did not identSfy any material misstatements in the
Trustees, Annuol Report.
Re8ponslbllitles for the flnunclal stotemenl$ and the audit
Re8ponslbllltles ol the Trustees lor the financial slatements
As explained more fully in the Statement of Trustees, Responsibilities, the trustggs (who are
also the directors ol the charitable company for the purposes ot company law) are
responsible for the preparatlon of the financial statements in accordance with the applicable
framework and for being satisfied that they give a true and fair view. The trustees are also
responsible for such Snternal control as they determine is necessary to enable tha
preporation ol financlal statements that are free from material misstatemant, whether due
to froud or error.
12

## **ST. JAMES'S PLACE CHARITABLE FOUNDATION** 

Annual Report for the year ended 31 December 2022 

## **Independent auditors' report to the members of St. James's Place Charitable Foundation** _**continued**_ 

In preparing the financial statements, the trustees are responsible for assessing the charitable company'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. 

## **Auditors' responsibilities for the audit of the financial statements** 

Our objectives are to obtain 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 auditors' 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 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 instances of non-compliance 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 procedures are capable of detecting irregularities, including fraud, is detailed below. 

Based on our understanding of the charitable company and its industry/environment, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journals to manipulate financial results or conceal the misappropriation of assets and potential management bias in accounting estimates. Audit procedures performed by the engagement team included: 

- identifying and testing journal entries, in particular journal entries posted with unusual account combinations to income or expenditure accounts; 

- obtaining independent confirmations of cash balances and investment valuations as at 31 December 2022; 

- testing the recognition of grant expenditure in line with terms of the grant awards; 

- enquiry of management and the board of Trustees, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; 

- reading minutes of meetings of the board of Trustees; and 

- assessing financial statement disclosures, and testing to supporting documentation, for compliance with applicable laws and regulations. 

13 



ST. JAMES'S PLACE CHAIUTABLE FOUNDATION
Annual Repoit foi. the year ended 31 December 2022
Independent audltors. veport to the members of St. James's Ploce Chorltable Foundatlon
contlnued
rhere are inherent limitations In the audit proceduros described obove. We ore less likely to
become aware of instances of non-compliance with laws and regulations that are not
closely related to events and transactions reflected in financial statements. Also, the risk of
not detectlng o materlal misstatement due to fraud is higher than the risk of not detecting
one rosulting from error, as fraud may involve deliberate concealment by, lor example,
forgery or intentional misrepresentotions or through collusion.
A further description of our responsibilities for the oudit of the financial statements is located
on the FRC'S website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of
our ouditors, report.
Use ot this reP￿t
This repoit, including the opinions, hos been prepared for and only for the charltable
company's members as a body in accordance with Chapter 3 of Part16 of the Companies
Act 2006 and foi no other purpose. We do noL In giving these opinions, accept or assume
responsibility for any other purpose or to any other person to whom this report is shown or
into whose hands It may come save where expressly agreed by our prior consent in writing.
othw requlred reportlng
Compunles Act 2006 exception reportlng
Under the Companies Act 2006 we ore required to report to you if, in our opinion..
we have not obtained oll the information and explanations wg require lor our audiL or
adgquate accounting records have not been kept or returns adequatefor our audit have
not been received from branches not visited by us,. or
certain disclosures of Trustees, remuneration specified by law are not made,. or
the charitable company financiol statements are not in agreement with the accounting
records and returns.
We have no exceptions to report arising from this responsibility.
Entitlement to exemptions
Under the Comwnies Act 2006 we ore required to report to you if, in our opinion, the tTUStees
were not entitled to.. prepare financial statements in accordan￿ wth the small companles,
regime,. take advantage of the small companles exemption from preparlng a Strateglc Report.
We have no exceptions to report orising from this responsibility.
Jamie Smith (Senior Statutory Auditor
lor und on behaltof Prlcewaterhousecoopers LIP
Chartered Accountants and StatutoryAuditors
Brlstol
13 July 2013
14

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Stalement of the Flnancial Activltles for the year ended 31 December 2022
Company no: 78192701 Charltyno: 1144606
Unrestrlcted
Restrlcted
Funds
Funds
2022
2022
Total
Fund8
2022
Total
Funds
2021
Note
Ineome trom
Voluntory In¢om8
Investm8nt Income
Olhar Incoming resourcos
Company mot¢hing
Total
4,981,548
84.116
803,198
5,784.746 4,809,032
84.118
15
5,358,490
10,424,154
5,358,490
71.227,352
3.784,630
8,573,677
803,198
Resources axpendèd
Expenditure on ralslng funds
Choritoblè octivities- grant mtsking
Total resources expend8d
186,015
9,717.745
9.903.760
186,015
120,247
10,669.752 6,640,669
10.855.787
6,760,916
952,007
952.007
N¢tlneome/(Expendlturé) lortho
Year
520.394
{148,800)
371,585
1,812,761
Rseonelllatlon ol fund$
Fund balances brought forward at I
January
Fund balances carrled forward at 31
December
5,869,161
241.880
6,111.021 4,298,260
6,389.555
93.051
6.482.606
6.111,021
The full ar)alysis ofthe prloryear income and expenditure bgtween unrestricted ond restricted
Income can be found in Note15.
The statement incorporates the Income and Expenditure account.
All recognised gains ond losses have been included in the Statement of Financiol Activlties
ond the amounts included ore derived from the continuing octlvitles of SL James's Place
Charitable Foundation.
The notes on poges 18 to 28 form port of these flnancial statements.

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Balance sheet at 31 December 2022
Company no: 78192701 Churlty no: 1744606
Note
2022
2021
Cuffent Assets
D&btors
Investments.. Unrestricted funds
Restricted funds
Cosh at bank and cash equivalents
Total current assets
287,744
5,376,715
93,051
1117 792
865,129
4,657,920
241,860
6,875,302
6,526,352
Liabilities
Creditors.. amounts falling due wthin one year
Net assels
12
The funds ol the Charity
Restricted income funds
Unrestricted income hjnds
93,051
241,860
69
Total Charlty funds
The financial statements on pages15 to 28 were approved by the Trustees on13 July 2023 and
signed on its behalf by.
Andrew Croft
Chair ol Trustee$
The notes on pages 18 to 28 form part of these firTrancial stotements.
16

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Aiinual Report for the yeai. ended 31 Dccember 2022
Cosh Flow Statement for the ygar endgd 31 Dacembar 2022
Company no: 78192701 Charlty no: 1144606
2022
2021
Reconciliotlon of net In¢omo to net cush
generated Irom operating activitios:
Net Income
371,585
1,812,761
Adjustments tor..
Investment income
(84,116)
(15)
Add..
Decrease
increase) in debtors
(Decrease) in creditors
Nel cash generated from operutlng actlvltles
577,385
(22,635)
842.219
(561,788)
{174,072)
1,076,886
statement ol cash flows:
Cash flows from operating activities..
Cosh flows from Investment uctlvities
842,219
1,076,886
Investment income
Purchase of Investment assets
84,116
(6,423,694) (3,680,014)
5,853,708
2,350,000
(485.870) (1,329,999)
358.349
{253,113)
15
Sales of investment assets
Net cush usedln Inve$tment actlvltles
Net overall cash Inllow
Cush & cash equivalents:
At bank and In hand l January
At bank and in hand 31 December
761,443
1,014,556
761,443
(253,113)
1,117,792
Change In cash & cash equivulents
356.349
Analysls ol change3 In net lunds:
At l Jan Cash flows
2022
At 31 Dèc
2022
Cashat bank
761,443
356,349
1,117,792
17

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report foi. the year ended 31 December 2022
Note8 to tho Flnanclal Statements forthe year endlng 31 December 2022
Accountlng Pollcles
Bo$ls of preparatlon
The financial stot8ments have been prepared under the historical cost convention, on a
going concern basis, and in accordance with applicable Unit8d Kingdom Accounting
stondards. The financial statements have been prepared in accordance with the Statement
ol Recommended Practice
Accounting and Reporting by Chorities, FRS 102 ond in
accordance with the Companles Act 2006 and tho Charities Act 2011, uslng consistently
applied occounting pollcSes.
Company status
st. James's Place Charitable Foundation is a company, registered England & Wales, limited
by guarantee not having o share capital. The liability of the members is limited by the
Articles of Association to £1 each. St. James's Place Charitable Foundation is a public benefit
entity.
The Company's functional and presentation currency Is pound sterling.
The porticvlar occounting policies adopted, whlch have been opplied consistently through
the current and prior financial year, are descrlbed below.
Incomo
Covenant income, fundralslng events and investment income are accounted for on o
receivoble basis. Gilt Aid contributions include tox recoverable from HMRC.
Investment income represents returns on money market fund accounts and cash at bank.
Company matching represents income received from St. James's Place plc which generolly
matches pound foT pound subject to Certain restrictions ond l or promotions on all income
received by the Charitable Foundation. The amount is therefore determined by the amounts
raised from covenants, fundraising activities (less ony assoclated costs) and donations
received.
Funds Accounting
The Choritoble Foundation holds both restricted and unrestricted funds.
Income raisod by individuals to support a specific charity other than the Choritable
Foundation are reported as Restricted Funds. By their nature, Restricted Funds received are
numorous but small in value, and are only held for a short period of time, until paid over to
their nominated charity.
18

ST. JAMES'S PLACE CHARITABL￿ FOUNDATION
Annual R¢port for the year ended 31 December 2022
Notes to the Flnanciol Statemen18 for theyeor endlng 31 Decembgr 2022 contlnued
Note l. Accountlng Poli¢Aes - contlnued
All other income is shown in the unrestricted fund and Is ovailable for use at the discretion
of the Trustees in furtherance of the general objectives of the Charitable Foundotion.
The Charitablg Foundation aim to have a posltive balanced pos6tlon b&tween thé Funds held
and the Contingent Liabilitles lor futurg gronts.
Finunelal Instruments
Financial instruments are recognised and occounted for under FRS IOZ sections11 and 12.
Invgstments
Investments refer to holdings of high quality, highty liquld Money Market funds. Investments
are held at lair value
Cash and cash equivalenls
Cash and cash equivalents include cash at bank and in hond, excluding money market
investments, which are represented within Investments and are held at fair value.
Donated servlces
Donated services include employee and other administration support costs provided by St.
Jamgs's Place Managgment Services Limited ("SJPMS'). They are occounted lor within Note
2 'Donoted services
stolf & support,. The valuation basis is the actual costs that are
incurr9d by SJPMS.
The PricewottsrhouseCoop8rs LLP audit fees are donated services.
Expondlturo
Grants payable
Grants are rgcognised in the financial statements when approved by the Trustees, and the
charitles have fulfilled thelr obligations for payment to be made.
otherexpendlture
Expenditure is recognised on an accruols basis as the liability is incurred.
Costs of generating voluntary income are incidental costs incurred in fundraising events
together with Lottery winnings and bank chorges.
Choritable activltles include all grants made in the year and grants over one year, together
with support costs including expenses.
Taxatlon
The Charitoble Foundation has no Ilabilityfor corporotlon tax due to its charltuble stotus. There
have been no non-charitable activitles in the yeor and no provision lor taxatlon Is considered
necessary. SL Jomes's Plac8 Charitable Foundation is able to recover income tax deducted at
source.
19

ST. JAMES'S PLACEI CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Not•s to the Flnancial Statements for the year ondlng 31 December 2022¢ontlnued
Voluntary Income
2022
2022
2022
2021
2021
2021
UnYg$tricted Restrlcted
funds
funds
Total Uniestricted Restricted
funds
funds
Total
Covenant Incomè
,663.337
,663.337
1,680,198
1,680.198
Glft Aid
contributions
Donations
396,257
396,257
341,892
341,892
289.506
9,500
289.506
9,500
154,285
9,500
154,285
9,500
Donated services
audit fea
Donated servlces
staff & support
costs
Fundroising
events
546.794
546.794
441,975
441,975
2.076.154
803.198 2.879.352
1,614,089
567,093
1181,182
4,981,548
803.198 5,784,746
4,241,939
567,093 4,809,032
Expendlture of ralsing lunds
2022
2022
2022
2021
Unrestrlcted Rgstricted
funds
lunds
2021
2021
Vnrostrlcted Rostrlctgd
lunds
funds
Tolal
Total
Costs of
lundraising
events
185,809
185,809
120,212
120,212
Bank chorges
206
206
35
35
186.015
186.015
120,247
120,247
The Charitable Foundatlon does not use professlonol fundraisers or involve commercial
participators. There have been no complalnts about fundraising octivity during the year (2021:
Non8
20

ST. JAMES'S PLAC￿ CHARITABLE FOUNDATION
Annual Report foi. thc year ended 31 Deceinber 2022
Notes to the Financlal Stotèmants tor the yoar endlng 31 D¢cèmb8r 2022 contlnued
Chaiitable activltle$- grant maklng
2022
2022
2022
2021
2021
2021
Unroslriclod Restricted
lunds
lunds
Total
Unrestricted Restricted
funds
funds
Total
Grants poyable
In the year
Support costs
9.161.451
952.007 10.113,458
5,685,053
504,141
6,189,194
556,294
556,294
451,475
451A75
9,717,745
952.007 10.669.752
6,136,528
504,141 6,640,669
The Charitable Foundation continue to focus grants to small or medium size charities
working in the following key areas..
Children and young people who are disadvantaged or have a dlsablllty
Hospices
Mental health
Cancer support
Armed Forces Veterans
All grants in 2022 were made to charitable institutlons. Further information regardlng
grants mode by the Charitable Foundation can be found on its web site..
foundotion.co.uk
The following are those organisations where the Charitable Foundation mode grant
payments of £150,000 or greater during the year.
Hope & Homes
Dlsasters Emergency Committee
Hospice UK
Panathlon Foundation
The Onside Foundation
Britlsh Red Cross
Onside Youth Services
Supporting Nepal's Children
National Stor Foundation
Sebastian's Action Trust
813,683
597,648
550,000
420,000
400,000
410,879
250,000
234,579
199,684
150,000
21

ST. JAMES'S PLAC￿ CHARITABLE FOUNDATION
Annual Report for the yeai. ended 31 December 2022
Nole$ to the Flnanclal Statement8 for Ihe year endlng 31 December 2022 continued
Charftable a¢tlvltle8- grant maklng (contlnued)
Support costs
2022
2021
Audit fee
9.500
9,500
Travel
7.466
1,674
staff costs (Note 5)
Consultancy & Other
384,731
344,669
95,632
154.597
556.294
451,475
The auditors are appointed on an honorary basls. The volue of tha oudlt has been included in
Incoming Resources as a donated service and as Audlt fee In Support Costs.
Tru$tg0s and omployee Informatlon
The Trustees were not paid during the yoar (2021.. £nll) and no Trustee received any emolument or
payment for protessionol or other services (2021.. £nil).
The Charitable Foundatlon employs no staff directly (2021.. nonel. SJPMS employs 8 staff (2021.. 8) who
provide dedicated support for the day-to-day operations of the Charitable Foundation. All employee
costs are met by SJPMS.
The number of employees (including key management personnel) whose total remuneratlon for
the year fell within each band ol £10,000 from £60,000 upwards was..
2022
2021
£70,000-£80,000
£80,000-£90,000
The (Jggregote poyroll Cost of these employees wos os follows..
2022
2021
Wages and salaries
Social security costs
Pension costs
322.186
278,903
33,374
29.171
30,067
31,257
Temporary Stalf Costs
4,442
384,731
344,669
22

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the ycai. ended 31 Decembei. 2022
Notes to the Financial Statements for the year endlng 31 Docombèr 2022 contlnued
Trustees undemployee Inlormotlon (contlnued)
The oggrogate payroll cost includes totol poyroll costs of £96,260 (2021.. £77,704) made to key
management personnel. The Charitable Foundation Is not the employing company tor these
staff ond therefore, no further pension disclosures or share based payment disclosures have
been included in these financial statements
Debtors
2022
2021
Amounts duè from SJPMS
94,934
798,876
Prepayments and occrued income
192.810
66,253
287.744
865,129
Investments
2022
2021
Unrostrictgd
Goldman Sachs GBP Liquld Reserves
BlockRock ICS GBP LEAF Premier
4.870.168
506.547
4,157,922
499,998
5.376.715
4,657,920
R•$trl¢ted
Goldman Sochs GBP Liquid Reserves
93,051
241,860
5,469,766
Goldman Sochs investments are same day access, money market collectlve Investment
schgmgs. BlackRock investments are held on three monthly fixed term duratlons.
4,899,780
Credilors: amountsfalllng duewlihln one yeur
2022
2021
Grant payments dLte
Accrvals and deferred income
372,696
413,331
2,000
20,000
392.696
415,331
23

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Repoit foi- the year ended 31 Decembei. 2022
Notes to the Financial Statemenls for the year ending 31 December 2022 continued
Conilngont Llabllltles
2022
2021
Amounts falling due within one year.. gronts
payable
Amounts falling due after more than one year
grants payable
2.303.448
3,709,969
2.064,113
1,702,711
4.367.561
5,412,680
All of the above meet the definltion of contingent liabilities os each grant recipient must meet
conditlons sot by the Chorituble Foundation in order to receive the grant funding. No constructive
obllgations exist. Thère ore no legal arrang8ments ielaling to ony ol the contingent liabilities
dètailed obove. No security is provided in relation to any of the contingent liabilities detailed above.
Nonè of the contlngent liabilities above relate to capital projects.
io.
Flnanclol Rlsk
Exposure to the following risks lor the Charltys flnaneial assets Is analysed separotely In the
following sections,.
credit risk,.
liquidity risk;
market risk., and
currency risk.
Cradlt rlsk arlses from holdlngs of Investments, debtors and, cash and cash equivalents,
wlth banks and flnanclal Instltutlons.
Rlsk
i) Charltable
Foundation's
Investments
and, cash
and cash
equivalents
Description
Loss of assets or
reduction in value
Management
The Charitable Foundation funds are
predominontly invested in A rated
money morkot funds, which are
classified os investments. Cash and
cash equivalents are operoting monies
held with approved banks,
2) Debtors
Risk counterparty does
not pay omount due.
Risk counterporty does
not honour prepayment
of goods or services
Prepoyments are ol low value and
closely monitored by management.
Balance held by SJPMS are settled
monthly
24

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for thc year cnded 31 December 2022
Note8 to tho Flnanclal Statam8nt8 for tha yaar andlng 31 Decembèr 2022 contlnued
io.
FlnuncknlRlsk (contlnued)
Thevolue of investments and, cash ond cosh equivalents ot 31 December 2022 was
£6,587,558 (2021 £5,661,223).
Llquldliy rlsk Is the risk that the Charitable Foundatlon, although solvent, elther does not
hove available sufficient liquld financial resources to enable it to meet its obligatlons as
they fall due or can secure such resources only at excessive cost.
Risk
Descriptlon
A slgnlflcant cash or
expense requirement
needs to be
met ot short notice
Mano
ement
Investments,
Cash or expense
requirement
The Charitable Foundotion funds are
predominantly invested in A roted
money market funds, which are
clossified as investments. Cash and cash
equivalents ore operating monies held
with approved banks. Cash flows are
prepared at regular intervals to ensure
adequate cash is held to meet all
upcoming liabilities.
The Charitable Foundations holds investments and, cash or cash equivalgnt short-term
access deposits 01 £6,587,558 (2021- £5,661,223).
Market rlsk is the Impact a foll In the value of Investments or other assets may have on the
Choritable Foundotion.
Risk
Monagement
Charltoble
The Charltable FoLtndatlon lunds are
Foundation's
predomlnantly Invested In A roted money
investments
market funds, whlch ore closslfied os
and, cash and
Investments. Cosh and cash equivalents
cash
ure operating monies held with approved
equivalents
banks.
rhe Charitable Foundation has investments and, cash and cosh equivolents exposed to
interest rate Iluctuations of £6,587,558 (2021 £5,661,223), earning Interest of £84,118 (2021
£15).
Description
Loss of ossets or
rgductlon In volue
Currency rlsk: The Charitable Foundotion is not subject to any significant currency rlsk, as
Its financial assets and Ilnancial liabllities are denominated In Sterling. The Charitable
Foundotlon does not hold any assets in foreign currencies.
25

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Mote$ to the Financial Statement$ lor the year endlng 31 December 2022 contlnued
io.
Financial Risk(¢ontsnued)
Calegorles ol financlal assets and flnancial liubllities
The linonciol assets and financial liabilities of the Charitable Foundation ore measured at
omortised cost. The corrying values of the Charitable Foundations financial assets and
liabilities In thè Company's Balance sheet are summarised below..
2022
2021
Financigl osset$
Investments
Cash and cash equivalgnts
Debtors
5,489,766
1,117,792
287,744
4,899,780
781,443
865,129
Total financial assets
6,875,302
8,526.352
Flnanclal Ilabilltlos
Creditors
392,696
392,696
The Choritable Foundation's financial assets are receivable on demand.
415,331
415.331
Total finoncial liabilities
Sensltlvlty analysis lo market risks
Cash is denominated in Sterling and held in money market funds ond banklng 5nstltutlons.
Due to the low volatility and shoit-term nature of these investments, changes In Interest
rates wlll not have a material impact on the value of these investments. Similarly. due to
their nature, other flnaneial assets and liabilities are not materially subjected to market risks.
Therefore, movements In currency and interest rates al the reporting date will not have a
material impact on the income and funds held.
ii.
Funds
Unyestrlcted
funds
Restrlcted
tunds
Total
Fund bolances at l January 2022
Income
5069,161
241,860
803,198
952,007
6,111,021
11,227,352
10,855,767
10,424,154
Expenditure
Fund balances at 31 Decemb8r
2022
9,903,760
6.389.555
93.051
6.482.608
Restricted lunds ure those funds raised by donors who wish to donate to causes thè
Charitable Foundation supports In which the donors have a particular interest. By their naturg,
Restricted funds receivèd are numerous but small In value, and ale only held for a short period
of time, until p(sid over to thelr nomlnated charlty.
26

ST. JAMEI S'S PLACE CHARITABLE FOUNDATION
Annual Report for the year ended 31 December 2022
Notes to the financial Statoments lor the year gnding 31 Decgmber 2022 ¢ontinued
12.
Analysis of net os$ots botwgon lunds
Unrestricted
funds
Reslrlcted
fund8
Total
Fund balances at 31 December
2022 are represented by..
Current assets
6,782,251
(392,696)
93,051
6,875,302
(392,696)
Current liabilities
Fund balances at 31 December
2022
6.389.555
93.051
6.482.606
13.
Related Part188
The followlng are related partles of the Charitable Foundatlon.
Some ol the Trustees, Directors and key management personnel of the Charitable Foundatlon
ore also Dlrectors or key personne5 of St. James's Place plc or other companles In the St.
Jomes's Place Group. The only transactlons with such indlvlduals were donatlons and
lundraising event cor)tributlons mode to the Charitable Foundation. The value of these
donations and contributions were £75,976 (2021- £21,571). Remunerotion pald to TTUStees and
key management personnel hove been disclosed in Note 5.
St. James's Placg plc donotes to the Choritable Foundotion in the form of pound for pound
matching, for certain donotions that are made by Partners, stofl and some other third parties to
thecharitable Foundation. This is explained further in Note l. The amount donated by St. James's
Place plc during the year was £5,358A90 (2021.. £3,764,630). The payment of the donations is
facilitated through SJPMS, which also donates the costs ol the staff that administer the charity,
as reported in Note 4 Support costs of £546,794 (2021= £441,975).
14.
Guortsnteecompllnyand Caplial
The Charitoble Foundation Is a compariy Ilmlted by guarantee not havlng share capltal. The
liobility of the members is limited by the Memorandum of Associatlon to £1 each. The sole
member and guorantor for the Chorltable Foundatlon Is St. James's Pl0￿ plc. This Is
unchanged Irom 2021.
The Charitablg Foundation does not have ony share capital. The Company thgrafore looks to
its Unrestricted Funds to ensure it can meet its liabilities ond obligations. The Trustees review
the Funds and the Financial assets and finoncial liabilities on a monthly bosis.
27

ST. JAMES'S PLACE CHARITABLE FOUNDATION
Annual Repoit for the yeai. ended 31 December 2022
Notes to the Flnanclal Statamonls for Ihgyear endlng 31 December 2022 contlnued
15.
Prlor y601 tsnulysls of unrostrlcted and rastrlcted Income ond expendlturo
Unrestricted Re$tri¢ted
Note Fund$ 2021
Funds
2021
Total
Funds
2021
Incomg from
Voluntory Income
Investment Income
4,241,939
15
3.764,630
8.006.584
567,093
4,809,032
15
Company matching
Total
3,764,630
8.573.677
567,093
Resource$ expended
Cost of generating
funds
Costs of generating voluntary
incomg
Charitable activities grant
making
Total resources expended
120,247
120,247
6,136,528
8,256,775
504,141 6,640,669
504.141
6.760.916
Net (Expendlture)/in¢ome for the
Year
.749.809
62,952
1.811761
Roconclllatlon ol lunds
Fund bolances brought lorward at I
January
Fund balances carried forward at 31
Decgmber
178908
260
This Note forms an integral part of and should be read in conjunction with the Statement of
the Financial Activities for the year ended 31 December 2022 on page15.
28