2021-08-31-accounts - The Sutton Trust

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together with the audited financial statements ofThe S "the Trust")for the year ended 31August 2021.	together with the audited financial statements ofThe S "the Trust")for the year ended 31August 2021.	utton Trust ("the Charitable	utton Trust ("the Charitable	Company", "the Charity' o	Company", "the Charity' o	Company", "the Charity' o
The financial statements comply with the Charities Act Articles of Association, and Accounting and Reporting		2011,the Companies Act by ChariTies: Statement		2006, the Memorandum and of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102)(published in October 2019) ("Charities SORP FRS102").
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE CHARITABLE COMPANY, ITS TRUSTEES		AND ADVISERS
Governing Instrument	Memorandum and Articles			ofAssociation
Founder		Sir Peter Lampl
Trustees (also the statutory directors		Sir Peter Lampl
ofthe Charitable Company)		Sir Peter Gershon
		Oliver Quick
		Lady Susan Lampl
		Tim Bunting
		Professor Louise Mary	Richardson		(from 1/1	1/2019)
Executive Chairman		SirPeter Lampl
Chief Executive		James Turner
Director of Development		Doug Thomson
Director ofProgrsmmes		Laura Bruce
Associate Director ofResearch &Policy		Carl Cullinane
Associate Director ofMedia & Communications		Hilary Comwell
Associate Director of Finance & Operations		Stefanie Kha (from 01/09/2021)
Director ofFinance (Igaternity Cover)		Frank Heisby (to 30/07/2021)

REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	DETAILS
FORTHE CHARITABLE COMPANY,				ITSTRUSTEES	AND ADVISERS (continued)
Objects of	Charitable		Company		The Trustees shall hold or apply the capital and income ofthe Charitable Company for the following
					objects:
					(i) Toadvance the	education		of	the public		and to
					improve educational		opportunities			for young
					people; and
					(il) To undertake such charitable				purposes		or to
					make charitable	donations		in	such a manner as
					the Trustees may in		their absolute			discretion
					think fit.
Charitable	Company	Address			Millbank Tower, 21-24	Millbank,
6 Registered office					London, SW1P4QP
Website and Social Media
					@suttonirust
Charity Registration		Number			1146244
Company	Registration		Number		07951541
Auditor					Rawlinson & Hunter Audit		LLP
					Statutory Auditor
					Chartered Accountants
					Eighth Floor, 6 New Street		Square,
					New Fetter Lane, London
					EC4A 3AQ
Bankers					Na6onal Westminster	Bank
					57Victoria Street, London,
					SW1H OHN
					CAF Bank Limited
					25 Kings Hill Avenue,	Kings Hill,
					West Mailing, Kent
					ME194JQ
Investment	Managem				Rathbone Investment	Management
					8 Finsbury Circus, London,
					EC2M 7AZ
					J.P. Morgan Bank
					60Victoria Embankment,		London
					EC4YOJP
Solicitors					Bates Wells
					10Queen Street Place, London
					EC4R 1BE

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			Note	31August 2021 6 6	31August 2021 6 6	31August 6	2020 6
Fixed assets:
Tangible assets Investments			8 9 &21	69,369 7,871,972		93,981 2,086,263
					7,941,341		2,180,244
Current assets:
Debtors			10	479,151		631,475
Cash at bank and in hand			21	9,475,541		8,263,527
				9,954,692		8,895,002
Current liabilities:
Creditors - amounts falling		due
within one year			11	(1,236,056)		(1,290,219)
Net current assets					8,718,636		7,604,783
Total assets less current	liabilities				16,659,977		9,785,027
Creditors - amounts falling		due
after more than one year			12		(4,859,620)		(40,506)
Total net assels					611,800,357		69,744,521
The funds ofthe Charitable
Company:
Unrestricted - general fund -designated fund Restricted income fund			18&19 188 19 18&19		3,797,494 2,520,888 5,481,975		3,671,906 2,086,263 3,986,352
Total Charitable Company		funds	18&19		611,800,357		F9,744,521

			Note	Year ended	Year ended
				31August	31 August
				2021f	2020 f
Net cash inflow from operating oufflow		activities	15	6,347,416	567,175
Cash fro investing	activities
Interest income				3,711	4,780
Dividend income				42,295	24,193
Purchase offixed assets				(16,308)	(44,995)
Purchase ofinvestments				(5,846,104)	(12,055)
Proceeds from disposal ofinvestments				681,005
Net cash oufflow from investing		activities		(5,135,401)	(28,077)
Net increase in cash and cash		equivalents		1,212,015	539,098
Cash and cash equivalents	brought forward			8,263,526	7,724,428
Cash and cash equivalents	carried forward			f9,475,541	f8,263,526
Cash and cash equivalents	consists of:
Cash at bank and in hand				f9,475,541	8,263,526
Cash and cash equivalents	at 31August 2021			f9,475,541	f8,263,526

				Unrestricted	Designated		Restricted	TOTAL
				Funds	Funds		Funds	FUNDS
				Year ended 31	Year ended 31	Year ended 31		Year ended 31
The income	comprised:			August 2021 E	August 2021 E	August 2021 E		August 2021 8
Donations				1,039,773			5,048,028	6,087,801
Donated services
Dividends					41,394		901	42,295
Bank interest				383	3,293		35	3,711
				51,040,156	f44,687		F5,048,964	f6,133,807
Other losses
—foreign exchange —disposal offixed			asset	E(120) F(17)			L'(13) f	E(133) E(17)
The income	arose from	the		Year	Year		Year	Year
following geographical		locations:		ended 31	ended 31		ended 31	ended 31
				August 2021 8	August 2021 E	August 2021 E		August 2021 8
US and Canada							590,974	590,974
Switzerland							250,435	250,435
New Zealand				2,496				2,496
UK including	the Channel		Islands	1,037,660	44,687		4,207,255	5,289,902
				8 1,040,156	44,687	L'	5,048,964	f 6,133,807

				UnnebieM	Designaiad	Resbictsd	TOTAL
				Funds	Funds	Funds	FUNDS
				Year ended 31	Year ended 31	Year ended 31	Year ended 31
The income comprised:				August 2020	August 2020 5	August 2020 6	August 2020
Donations				1,000,599		4,884,818	5,885,417
Donated services*				563,000		221,500	784,500
Dividends					24,193		24,193
Bank interest				2,680	1,241	859	4,780
				61.566275	325.434	65,157,177	56,698,890
Other losses	—foreign	exchange		5(245)			5(245)
The income arose from		the		Year	Year	Year	Year
following geographical		locations:		ended 31 August 2020 6	ended 31 August 2020 8	ended 31 August 2020	ended 31 August 2020 6
US and Canada				136,489		1,074,544	1,211,033
Switzerland, UK including	Holland and the Channel		Norway Islands	1,429,790	25,434	325,986 3,706,647	325,986 5,161,871
				F1,566,279	525,434	55,107,177	56,698,890

DURING	THE YEAR ENDE	D 31AUGUST	2021 (continu	ed	)
		Unrsstrictsd Funds	Designated Funds		Resbictsd Funds	Total	Total number
		Year	Year		Year	Year	Year
		ended 31	ended 31		ended 31	ended 31	ended 31
		August 2021 6	August 2021 6		August 2021 6	August 2021 6	August 2021
Grants payable to institutions					1,124,843	1,124,843	111
Grants payable to individuals
Total grants	payable (see Note		5	-	61,124,843	F1,124,843	111
4)
Total number
		UnnetricM	Designated				Total
		Funds	Funds		Funds	Total	number
		Year	Year		Year	Year	Year
		ended 31	ended 31		ended 31	ended 31	ended 31
		August 2020 f	August 2020 f		August 2020	August 2020 f	August 2020
Grants payable to institutions					1,345,855	1,345,855	106
Grants payable to individuals
Total grants	payable (see Note		5	-	f1,345,855	51,345,855	106
4)
Total number					106		106

		Grants		Direct costs		Staff costs		Support	Pro bono
						(Note 7)		Costs	work		Total
								(Note 5)
	Year ended		Year ended		Year ended		Year ended		Year ended		Year ended
	31	August	31August		31August			31August	31August		31August
		2021		2021		2021		2021	2021		2021
		K		E		8		E	E		8
University outreach Schools/colleges Early years Research projects		375,881 536,490 181,600 30,872		596,746 434,779 3,375 188,870		432,611 147,485 61,201 213,868		313,436 266,765 59,254 104,369			1,718,674 1,385,519 305,430 537,979
		61,124,843		51,223,770		8855,165		E743,824			93,947,602
Costs of	raising funds	F	-	625,354		2419,173		8103,205	8	-	f547,732
							Unrestricted		Restricted
								Funds	Funds		Total
Charitable	expenditure							F587,788	83,359,814		f3,947,602
		Grants		Direct costs		Staff costs		Support	Pro bono
						(Note 7)		Costs	work		Total
								(Note 5)
	Year ended			Year ended		Year ended		Year ended	Year ended		Year ended
	31 August			31August		31August		31August	31August		31August
		2020		2020		2020		2020	2020		2020
				E				E			8
University outreach Schools/colleges Early years Research projects		946,874 264,574 134,407		877,149 6,103 4,477 251,077		472,988 19,777 25,908 185,655		883,786 116,386 66,077 175,000	221,500		3,402,297 406,840 230,869 611,732
		81,345,855		81,138,806		5704,328		K1,241,249	8221,500		84,651,738
Costs of	raising funds	F	-	630,578		8384,198		2150,958	8	-	8565,734
								Unrestricted	Restricted
								Funds	Funds		Total
Charitable	expenditure							E1,069,757	53,581,981		K4,651,738

. ANALYSIS OF S	STS
		Charitable	Fund raising	Total
		AcsviTies	(unrestricted)
		Yearended	Year ended	Year ended
		31August	31August	31August
		2021f	2021	2021f
Wages and salaries (Note 7) Other staff costs-travel Irecruitment Administration	etc.	367,437 (5,763) 34,559	50,982 (800) 4,795	418,419 (6,563) 39,354
Strategy and planning (pro-bono) Premises (net ofrecharges) Audit &other		185,553 21,076	25,746 2,924	211,299 24,000
Accountancy Legal Public relations		12,076 4,956 88,64S	1,675 688 12,300	13,751 5,644 100,948
Depreciation (Note 8)		35,282	4,895	40,177
		f743,824	f103,205	f847,029
		Charitable	Fund raising	Total
		Acbvities	(unrestricted)
		Yearended	Year ended	Year ended
		31August	31August	31August
		2020f	2020f	2020f
Wages and salaries (Note 7) Other staff costs—travel Irecruitment	etc.	380,547 10,015	46,282 1,218	426,829 11,233
Administration		35,809	4,355	40,164
Strategy and planning (pro-bono) Premises (net ofrecharges) Audit &other		501,953 178,407 20,149	61,047 21,697 2,451	563,000 200,104 22,600
Accountancy Legal Public relations		7,189 6,406 69,750	874 779 8,483	8,063 7,185 78,233
Depreciation Loss on disposal offixed assets		30,979 45	3,767 5	34,746 50
		f1,241,249	f150,958	51,392,207

NET INCOME AND NET MOVEMENT	NET INCOME AND NET MOVEMENT
This is stated	after charging:	Year ended 31August	Year ended 31August
		2021 6	2020f
Operating leases —land and buildings Depreciation Loss on disposal offixed assets		113,807 40,177 17	113,807 34,747 50
Auditor's remuneration:
Audit services		24,000	22,600
STAFF COSTS
		Yearended	Yearended
		31August	31August
		2021	2020
		6	K
(a) Salaries National	Insurance	1,418,500 105,028	1,262,865 111,396
Pension	contributions	169,228	141,094
		61,692,756	51,515,355

	Leasehold	and	Computer	Cycle
	improvements 6	fittingsf	equipment 6	scheme 6		Total 6
Cost
At 1 September 2020 Additions	143,766	119,896	101,061 14,391	1,917		364,723 16,308
Disposals		(6,910)	(10,667)			(17,577)
At 31August 2021	143,766	112,986	104,785	1,917		363,454
Depreciation At 1 September 2020 Charge for period Disposals	131,029 8,499	101,465 6,614 (6,910)	38,248 24,265 (9,924)	799		270,742 40,177 (16,834)
At 31August 2021	139,528	101,169	52,589	799		294,085
Net book value
At 31August 2021	64,238	611,817	652,196	61,118		669,369
At 31August 2020	612,737	F18,431	562,813	6	-	593981

FIXEDASSET INVES	T	MENT	S
					31August	31August
					2021 f	2020 f
Investments comprise: United Kingdom Overseas					2,147,028 5,724,944	1,754,317 331,946
Total Investments					f7,871,972	f2,086,263
Gain on investments	in	the period:
Realised (losses)/gains Unrealised gains					(3,552) 632,000	15,122 61,029
Total gain on investments			in the period		f628,448	f76,151
Included in:
Deferred income					210,935
Statement ofFinancial		AcSviTies			417,513	76,151
investment assets within the United Kingdom
					Cash
				Quoted	held by
				Securities	custodian	Total
				31August	31August	31August
				2021 f	2021 f	2021 f
Cost/market value
At 31August 2020 Transfers				1,630,334	123,983 (5,881,881)	1,754,317 (5,881,881)
Additions				326,734	5,150,421	5,477,155
Disposals Unrealised investment		gains		(255,620) 367,315	685,742	430,122 367,315
At 31August 2021				f2,06S,763	f78,265	f2,147,028
inveshnent assets whhin the United Kingdom
					Cash
				Quoted	held by
				Securities	custodian	Total
				31August	31August	31August
				2020 f	2020 f	2020 f
Cost/market value
At 31August 2019				570,505	1,365,633	1,936,138
Transfers				1,052,184	(1,306,201)	(254,017)
Additions				768	11,286	12,054
Dieposals Unrealised investment		gains		(8,392) 15,269	53,265	44,873 15,269
At 31August 2020				f1,630,334	f123,983	f1,754,317

IXEDASSE	T INVESTMENTS (continued)	T INVESTMENTS (continued)
investment	assets outside the United Kingdom		31August	31August
			2021	2020
			Quoted	securities
			Total	Totalf
Cost/market	value
At 31 August 2020 Additions			331,946 5,519,368	61,920 254,017
Disposals Unrealised	investment	gains	(425,385) 264,685	(29,751) 45,760
At 31August 2021			F5,724,944	f331,946

				Market	Percentage
				Value	oftotal
				31August	31August
				2021 f	2021 '/o
UK Investments
Vanguard S&P Lumyna-Global		500ETF Debt-Credit UCITS FD		E1,742,849 f573,709	22.1 7.3
				Market	Percentage
				Value	oftotal
				31August	31August
				2020 f	2020 'A
UK Investments
Tmasury Treasury Treasury Rathbone Personal	1/84A I/L Stock 22/03/2024 1/8% I/L Stock 22/03/2026 1/8M I/L Stock 22/03/2029 Unit Trust Mgmt Global Sustainability Assets Trust PLC		Fund	f134,956 f135,092 f120,292 f103,728 f126,980	6.5 6.5 5.8 5.0 6.1
Ruffer Investment Co				f105,600	5.1

EBTORS
			31August	31August
			2021f	2020 f
Debtors- donations Other debtom		and legacies receivable	217,507 12,240	40,522 6,573
Prepayments	and accrued income		249,404	584,380
			f479,151	F631,475

REDITORS - Amounts	falling due within one year
		31August	31August
		2021	2020
		6
Accruals for grants payable Trade creditors		537,783 74,636	549,519 73,964
Taxation and social security		35,579	32,271
Other creditors		5,832	21,365
Accruals and deferred	income (Note 13)	582,226	613,100
		EL236,056	81,290,219
REDITORS - Amounts	falling due after more than one year
		31August	31August
		2021	2020
		6	8
Other creditors			7,540
Accruals and deferred	income (Note 13)	4,859,620	32,966
		84,859,620	640,506

			31August	31August
			2021	2020
			8	6
Balance	as at 1	September 2020	503,806	957,861
Amount	deferred	in the period	5,311,342	473,166
Amount	released to income		(473,166)	(927,221)
Balance	as at 31August 2021		F5,341,982	5503,808

non -	ncell	able	ope	rating lease:
					Land and	Land and
					Buildings	Buildings
					31August	31August
					2021 6	2020 f
Within 1 Between	year two	and	five	years	65,963	116,457 65,963

		Funds				Funds
		bfouglrt	Total	Total		carried
		forward	income	expenditure	Transfers	forward
				(including
Unrestricted funds			6	gsinai(losses) 6
Generalfunds		3,671,906	1,040,019	(914,431)		3,797,494
Designated funds		2,086,263	450,844	(16,219)		2,520,888
		f5,758,169	61,490,863	f(930,650)		86,318,382
Restricted funds
Pathways to Law UK Summer Schools		9,682 1,603,130	84,926 930,435	(316,315) (739,507)	256,636	34,929 1,794,058
Employability Funding Sutton Scholars		31,142	20,000 100,000	(148,766)	(20,000)	(17,624)
US Programme Pathways to Medicine Opportunity Bursary Pathways to Engineedng Pathways to Banking	&	1,183,475 157,068 26,049	356,424 159,628 443,980 181,500 319,414	(361,548) (148,349) (10,715) (60,349) (161,756)	3,769 12,535 14,987	1,178,351 172,116 433,265 133,686 198,694
Finance
Research and Policy			387,996	(389,573)	7,000	5,423
Access Champions Pathways Plus			47,500	(49,973)	3,734	1,261
Pathways to Coding Alumni Network			31,075	(109,463)	78,388
Programmes General Fund Early years Apprenticeship Campaigns Accessing Online		74,759 30,996 13,218	65,388 219,520 103,832	(219,280) (76,872) (12,482)	(65,388)	74,999 57,956 736
Opportunities Apprenticeship Summer			120,000	(39,530)		80,470
School
Infrastructure Project Pathways General Sutton Trust Online		20,000 510,498 326,335	132,902 601,216 450,027	(150,621) (569,585)	(291,661)	2,281 820,053 206,777
COSMO: Cohort Study			304,544			304,544
		63,986,352	65,060,307	F(3,564,684)		65,481,975
Total funds		69,744,521	86,551,170	E(4,495,334)		611,800,357

		Unrestricted	funds	funds	Restricted
					funds
		General	Designated			Total
		31August	31	August	31August	31August
		2021		2021	2021	2021
		6		F	6
Tangible fixed assets Investments		69,369	2,520,888		5,351,085	69,369 7,871,972
Debtors		134,044			345,107	479,151
Cash at Current	bank and in hand liabilities	3,766,900 (172,819)			5,708,640 (1,063,237)	9,475,541 (1,236,056)
Non - current liabilities					(4,859,620)	(4,859,620)
Total net assets		63,797,494	62,520,888		55,481,975	611,800,357
		Unrestricted	funds		Restricted	Total
					funds
		General	Designated
		31August	31	August	31August	31August
		2020		2020	2020	2020
		6			6
Tangible fixed assets Investments		93,981	2,086,263			93,981 2,086,263
Debtors		221,486			409,989	631,475
Cash at	bank and in hand	3,628,500			4,635,027	8,263,527
Current	liabilities	(264,521)			(1,025,698)	(1,290,219)
Non - current liabilities		(7,540)			(32,966)	(40,506)
Total net assets		63,671,906	F2,086,263		63,986,352	69,744,521

				31August	31August
				2021	2020
Financial	assets
Measured	at fair value	through	profit and loss	17,347,513	10,349,790
Measured	at amortised	cost:
Other debtors (Note		10)		12,240	6,573
				31August	31August
				2021	2020
				6
Financial	liabilities
Measured	at amortised	cost
Trade creditors (Note 11) Other creditors and accruals			(Note 11)	74,636 92,800	73,964 150,699