2022-08-31-accounts

CONTENTS
	Page
REPORT OF THE TRUSTEES	1 - 20
INDEPENDENT AUDITOR'S REPORT	21 - 24
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING THE INCOME AND EXPENDITURE ACCOUNT)	25
BALANCE SHEET	26
STATEMENT OF CASH FLOWS	27
NOTES TOTHE FINANCIAL STATEMENTS	28-50

FOR THE	CHARITAB	L	E COMPANY, ITST	RUSTEES AND ADVISERS (continued)	RUSTEES AND ADVISERS (continued)	RUSTEES AND ADVISERS (continued)	RUSTEES AND ADVISERS (continued)	RUSTEES AND ADVISERS (continued)
Objects of	Charitable		Company	The Trustees shall hold or apply the capital and income ofthe Charity for the following objects:
				(i) Toadvance the education of the public and to improve educational opportunities for young
				people; and
				(ii) To undertake such	charitable			purposes	orto
				make charitable donations			in	such a manner
				as the Trustees may		in their absolute
				discretion think fit.
Charitable Company &Registered office		Address		Millbank Tower, 21-24 Millbank, London, SW1P4QP
Website and Social Media				www. suttontrust. corn
				@suttontrust
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				National Westminster Bank
				57Victoria Street, London,
				SW1H OHN
				CAF Bank Limited
				25 Kings Hill Avenue, Kings		Hill,
				West Mailing, Kent
				ME194JQ
				Nationwide Building Society
				Kings Park Road
				Moulton Park, Northampton
				NN3 6NW
Investment	Managers			Rathbone Investment Management
				8 Finsbuiy Circus, London,
				EC2M 7AZ
				J.P. Morgan Bank
				60Victoria Embankment,	London
				EC4YOJP
Solicitom				Bates Wells
				10Queen Street Place, London
				EC4R 1BE
									Page 2

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			Note	31August 2022 6	31August 2022 6	31August 6	2021 8
Fixed assets:
Tangible assets Inveslments			8 9&21	63,001 7,288,987		69,369 7,871,972
					7,351,988		7,941,341
Current assets:
Debtors			10	881,002		479,151
Cash at bank and in hand			21	9,745,616		9,475,541
				10,626,618		9,954,692
Current gablgtles:
Creditors - amounts falling		dus
within one year			11	(2,400,671)		(1,236,056)
Net current assets					8,225,947		8,718,636
Total assets less current	liabilities				15,577,935		16,659,977
Creditors - amounts falling		due
after more than one year			12		(4,624,762)		(4,859,620)
Total net assets					810,953,173		811,800,357
The funds ofthe Charitable
Company:
Unrestricted -general fund -designated fund Restricted income fund			18&19 188 19 188 19		4,075,851 2,231,576 4,645,746		3,797,494 2,520,888 5,481,975
Total Charitable Company		funds	188 19		810,953,173		811,800,357

			Note	Year ended	Yearended
				31August	31August
				2022	2021
				8	8
Net cash inflow from operating		activities	15	182,297	6,347,416
Cash outflow from investing Interest income	activities			9,195	3,711
Dividend income				47,876	42,295
Purchase offixed assets				(34,600)	(16,308)
Purchase of investments				(1,752,081)	(5,846,104)
Proceeds from disposal of investments				1,817,388	681,005
Net cash outflow from investing		activities		87,778	(5,135,401)
Net increase in cash and cash		equivalents		270,075	1,212,015
Cash and cash equivalents	brought forward			9,475,541	8,263,526
Cash and cash equivalents	carded forward			89,745,616	59,475,541
Cash and cash equivalents	consists of:
Cash at bank and in hand				69,745,616	F9,475,541
Cash and cash equivalents	at 31 August 2022			E9,745,616	E9,475,541

				Unrestricted	Designated	Restrict	TOTAL
				Funds	Funds	Funds	FUNDS
				Year ended 31	Year ended 31	Year ended 31	Year ended 31
The income	comprised:			August 2022 6	August 2022 f	August 2022 8	August 2022 6
Donations Donated services *				1,204,039		4,338,576 229,990	5,542,615 229,990
Dividends					44,457	3,419	47,876
Bank interest				4,888	4,210	97	9,195
				1,208,927	48,667	4,572,082	5,829,676
Other gains/(losses) —foreign exchange —disposal offixed			asset	428 (629)		132	560 (629)
				(201)		132	(69)
The income	arose from	the		Year	Year	Year	Year
following geographical		locations:		ended 31 August 2022 6	ended 31 August 2022 6	ended 31 August 2022 6	ended 31 August 2022 6
US and Canada				121,100		686,298	807,398
Switzerland
New Zealand
UK including	the Channel		Islands	1,208,927	48,667	3,764,684	5,022,278
				1,330,027	48,667	4,450,982	5,829,676

				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 6	August 2021 f	August 2021 f		August 2021 6
Donations				1,039,773			5,048,028	6,087,801
Dividends					41,394		901	42,295
Bank interest				383	3,293		35	3,711
				F1,040,156	644,687		F5,048,964	66,133,807
Otherlosses
—foreign exchange —disposal offixed			asset	(120) (17)			(13)	(133) (17)
The income	arose from	the		Year	Year		Year	Year
following geographical		locations:		ended 31 August 2021 E	ended 31 August 2021	ended 31 August 2021 6		ended 31 August 2021 6
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		4,207,555	5,289,902
				6 1,040,156	44,687	F	5,048,964	f 6,133,807

DURING	THE YEAR ENDE	D 3	1 AUGUST	2021 (continu	ed	)
		Un	resbictad Funds	Designated Funds		Resbtctsd Funds	Total	Total number
			Year	Year		Year	Year	Year
		ended 31		ended 31		ended 31	ended 31	ended 31
		August 2022 2		AU9us'I 2022 f		August 2022 2	August 2022 K	August 2022
Grants payable to institutions						1,834,479	1,834,479	141
Grants payable to individuals
Total grants	payable (see Note			E	-	61,834,479	61,834,479	141
4)
Total number						141		141
		Un	strolled	Designated		Sstrtctad		Total
			Funds	Funds		Funds	Total	number
			Year	Year		Year	Year	Year
		ended 31		ended 31		ended 31	ended 31	ended 31
		August 2021		August 2021		August 2021	August 2021	August 2021
			2	2		2	2
Grants payable to institutions						1,124,843	1,124,843
Grants payable to individuals
Total grants	payable (see Note			6	-	81,124,843	81,124,843
4)
Total number

. ANALYSIS OF S	UPPORT CO	STS
			Charitable	Fund raising	Total
			Activities	(unrestricted)
			Yearended	Year ended	Yearended
			31August	31August	31August
			2022	2022	2022
			8	8
Wages and salaries (Note 7) Other staff costs-travel / recruitment		etc.	380,818 125,259	37,189 12,232	418,007 137,491
Administration			106,680	10,418	117,098
Premises (net ofrecharges) Audit &other			170,551 26,420	16,855 2,580	187,206 29,000
Accountancy Legal Public relations			13,603 4,854 110,102	1,328 474 10,752	14,931 5,328 120,854
Depreciation (Note 8)			36,749	3,589	40,338
			F975,036	895,217	81,070,253
			Charitable	Fund raising	Total
			Activities	(unreatricted)
			Yearended	Year ended	Yearended
			31August	31August	31August
			2021f	2021 8	2021 8
Wages and salaries (Note 7) Other staff costs-travel / recruitment Administration		etc.	367,437 (5,763) 34,559	50,982 (800) 4,795	418,419 (6,563) 39,354
Premises (net ofrecharges) Audit &other			185,553 21,076	25,746 2,924	211,299 24,000
Accountancy Legal Public relations			12,078 4,956 88,648	1,675 688 12,300	13,751 5,644 100,948
Depreciation			35,282	4,895	40,177
			8743,824	2103,205	6847,029

7.	STAFF COSTS (continued)	STAFF COSTS (continued)	STAFF COSTS (continued)	STAFF COSTS (continued)						Yearended	Year ended
										31August	31August
										2022	2021
										No.	No.
	(b)	Number ofstaff
		Programmes Research								16 8	12 9
		Fundraising Administration								5 4	6 4
										33	31
	(c)	Employees'	remuneration		over F60,000 psr			year
	The	number of employees			who	received	total	employee	benefits
	(excluding employer			pension	costs)	ofmore	than	f60,000 for	the year
	is as	follows:

ANGIBLE FIXEDASSE	TS
		Furniture
	Leasehold Improvements f	snd fittingsf	Computer equipment f	Cycle scheme f	Totalf
Cost
At 1 September 2021 Additions	143,756	112,986 11,054	104,785 23,232	1,917 314	363,454 34,600
Disposals		(3,278)	(2,998)	(1,917)	(8,193)
At 31 August 2022	143,766	120,762	125,019	314	389,861
Depreciation At 1 September 2021 Charge for psdiod Disposals	139,528 4,238	101,169 4,976 (2,884)	52,589 29,980 (2,762)	799 1,144 (1,917)	294,085 40,338 (7,563)
At31August 2022	143,766	103,261	79,807	26	326,860
Net book value At 31August 2022		f17,501	f45,212	f 288	f63,001
At 31August 2021	f4,238	f11,817	F52,196	f1,118	f69,369

FIXEDASSET INVESTIyiENTS		31August	31August
		2022	2021
		6
Investments comprise: Rathbones		2,205,136	2,459,479
JP Morgan		5,045,388	5,334,228
Total equity, bond and other investments Cash held as part of portfolio		7,250,524 38,463	7,793,707 78,265
Total Investments and cash under management		R7,288,987	67,871,972
(Loss)/gain on investments in the Realised gains/(losses) Unrealised (losses)/gains	period:	62,795 (580,473)	(3,552) 632,000
Total (loss)/gain on investments	in the period	6(517,678)	F628,448
Included in: Deferred income Statement of Financial Activities		(184,087) (333,591)	210,935 417,513
		9(517,678)	F628,448

IXEDASSET INVEST	MENTS (continued)
		31August	31August
		2022	2021
		Totalf	Totalf
Market value
At 31 August 2021 Additions		7,871,972 1,752,081	2,086,283 5,838,266
Dlsposals Net realised investment Unrealised investment	gains/(losses) gains	(1,817,388) 62,795 (580.473)	(681.005) (3,552) 632,000
At 31 August 2022		f7,288,987	f7,871,972

			Market	Percentage
			Value	oftotal
			31August	31August
			2022 f	2022
Vanguard S8P 500 ETF Lumyna-Global Debt-GOVT UCITS FD HSBC Global Fund ICAV			f1,986,657 f639,947 f448,463	27.3 8.8 6.2
			Market	Percentage
			Value	oftotal
			31August	31August
			2021 f	2021 4A
Vanguard S8P500 ETF Lumyna-Global Debt-GOVT UCITS FD			f1,742,849 f573,709	22.1 7.3

EBTORS
			31August	31August
			2022	2021f
Debtors- donations Other debtors		and legacies receivable	43,949 7,754	217,507 12,240
Prepayments	and accrued income		829,299	249,404
			f881,002	f479,151

REDITORS - Amount	s falling due within one year
		$1August	31August
		2022f	2021 6
Accruals for grants payable Trade creditors		1,541,211 168,254	537,783 74,636
Taxation and social security Other creditors		42,123 28,745	35,579 5,832
Accruals and deferred	income (Note 13)	620,338	582,226
		f2,400,671	61,236,056

REDITORS - Amounts falling due after more than one y	ear
	31August	31August
	2022	2021
	K	8
Other creditors	14,562
Accruals and deferred income (Note 13)	4,810,200	4,859,620
	64,624,762	64,859,620

			31August	31Augua'
			2022	2021
				8
Balance	as at 1 September 2021		5,341,981	503,808
Amount	deferred	in the period	968,881	5,311,342
Amount	released	to income	(1,200,931)	(473,168)
Balance	as at 31August 2022		65,109,731	25,341,982

ECONCILIATION O	F NET IN	COME	TO NET CASH FLOW F	ROM OPERATING ACTIV	ITIES
				Year	Year
				ended	ended
				31August	31August
				2022	2021
					6
Net income and net	movement	in funds		(847,184)	2,055,836
Interest receivable				(9,195)	(3,711)
Dividends receivable				(47,876)	(42,295)
Unrealised loss/(gain) on investments Realised (gain)/loss on investments Depreciation oftangible fixed assets Loss on disposal offixed assets (Increase)/decrease in debtors Increase in creditors			(Note 9) (Note 9) less dispossls	580,473 (62,795) 40,338 629 (401,851) 929,758	(632,000) 3,552 40,177 17 152,324 4,773,516
Net cash inflow from	operating	activities		fI82,297	66,347,416

non -	ca	ncell	able	ope	rating lease:
						Land and	Land and
						Buildings	Buildings
						31August	31August
						2022	2021
							6
Within 1 Between		year two	and	five	years	122,796 378,621	65,963

8. STATEMENT OF F	UND	S
		Funds	Total	Total		Funds
		brouglrt	Income	expenditure	Transfers	carried
		forward		(including		forward
Unmstrlcted funds			8	gains/(losses) 6
General funds Designated funds		3,797,494 2,520,888	1,208,927 48,667	(930,570) (337,979)		4,075,851 2,231,576
		56,318,382	F1,257,594	E(1,268,549)		86,307,427
Restricted funds
Accessing Online		736		(736)
Opportunities
Alumni Engagement			80,496	(80,496)
Programme Apprenticeship Summer		80,470	98,450	(144,934)		33,986
School
Employability Bursaries			53,094	(21,435)		31,659
Infrastructure Project Pathways to Banking	&	2,281 198,694	265,000	(2,281) (163,215)		300,479
Finance
Pathways to Engineering Pathways to Law Pathways to Medicine Pathways Online Pathways General Opportunity Bursary Sutton Scholars		133,686 34,929 172,116 820,053 433,265 (17,624)	131,201 272,740 158,786 198,782 218,332 153,429 50,000	(103,504) (506,782) (182,695) (116,399) (250,028) (25,048)	255,075 422 (255,497)	161,383 55,962 146,629 82,363 782,888 336,666 7,328
Sutton Trust Careers			62,800	(62,800)
Sutton Trust Careers			165,250	(72,213)		93,037
Launchpad Sutton Trust Careers Plus Sutton Trust Online		1,261 206,777	75,387 415,084	(76,648) (555,015)		66,846
Employability & Post	18		40,000			40,000
General Fund
UK Summer Schools		1,794,058	766,460	(1,390,861)		1,169,857
US Programme		1,178,351	436,159	(662,422)		952,088
Programmes General Fund Innovation Projects Apprenticeship		57,956	253,688 33,661	(38,716) (91,617)		214,972
Campaigns Apprengceship Research COSMO: Cohort Study Data Analysis & Insights Early years Early Years Campaign Employability Research		304,544 74,999 5,423	80,000 77,000 79,100 47,400 130,000	(73,398) (239,336) (62,528) (136,277) (32,052) (85,072)		6,602 65,208 14,472 17,822 20,771 44,928
Research and Policy			231,803	(231,803)
		65481,975	fA,572,082	f(5,408,311)		54,645,746
Total funds		611,800,357	65,829,676	E(6,676,860)		610,953,173

				31August	31August
				2022	2021
				8	2
Financial	assets
Measured	at fair value	through	profit and loss	17,034,603	17,347,513
Measured at amorgsed Other debtors (Note		cost: 10)		7,754	12,240
				31August	31August
				2022	2020
				6	6
Financial	liabilities
Measured	atamortised	cost
Trade creditors (Note 11) Other creditors and accruals			(Note 11)	168,254 138,396	74,636 92,800