Company number 82500SB
Charfty number 1153481
Th¢ Sulgrave Foundation
A company Ilmlted by guarantee
Financlal $tstemont$ and TrusteeglDirectors' report for the p•riod to 30 June 2021

The Sulgravo Foundatlon
L•gal & Admlnl$trative Infomiatlon at 30 June 2021
Company numb•r
825005
Charlty r•gl$tration numbor
1153481
Govtrnlng document
The memorandum and art'¢les of association of The Sulgrave
Foundation registe￿d on 11 October 2012.
Directorsrrrnsteas
Mr Christopher lan Hammond
Ms Sarah Mary Grant
Federation of London Youth Clubs
Principal addrev4 for
corr•spondèn¢e and
r•g1St•r￿ office
Penningtons Manches Coopef LLP
125 Vvood Street
London
EC2V 7AW
Solicitors
Penningtons Manches Cooper LLP
125 Wood Street
London
EC2V 7AVV
Accountants
Penningtofis Manches Cooper LLP
125 Wood Street
London
EC2V 7AW
Indepondont E¥amlner8
Azets
A5hcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ
Infomialion page
Page 2

The Sulgravo Foundatlon
TrustseslDlr¢¢torn' Report for th• perlod to 30 June 2021
DlrKlor¥, Trustees and Members
The members of the Charity are ￿qUired to be ils trustees and director5. A register of mernbers is
maintained by the charity. New members are accepted by 3greemenl of all the members. The
mernbers may al any lime aL%opl a new pdicy for accepting applications for membeiship. New
members are expected to have adequate experience in matters concerning the objects of the charity or
be able to advise on matters that will aid the ¢h8nty in achieving 115 objects.
Doclslon makin9 by Dlrg¢tors
The directors convene at an annual general meeting and at other board meetings as required
throughout the year. At present, they commit lo decisions by unanimous votes at the meetings. The
directors de¢i5ion making powers are governed by the arb'cles of associats'on of the charity.
Objects ofth• Charlty
For such chaiitable purpose as the directors Shall frorn lime to time in their abyolute and uncontrolled
discretion think fil, and in particular lo further the developmenl and education of boys and youn9 men
and gid5 and young women through their leisure-ts'me activities so as lo help them achieve their
physical, mental and 5pirrtual potential so that they may grow to full maturity as individuals and members
of society and that their conditions of life may be improved.
In furtherance of the objects the directors wll have particular regard to the needs of those in poverty or
financial hardship.
Speclflc Inv•stsxonl Po*•r4
The directors. powers include full discretionary powers to make grants. They also have full discretionary
p￿r lo make investments.
A¢hlevements and P•rfornianc•
The Foundation holds an investment portfolio to provide income and groth lo financially support the
charity's objectives. In addrtion, the Foundation holds a propety where the Sulgrave Club operates,
which is held in lurtherance ol the chaity's objectives. AJI fund5 are Unrestricted Funds.
The value of the trust investments was £1.570.354 on 30 June 2020 and the value of investments was
£1,797,864 on 30 June 2021, an increase of 13.851 Ok. The annualised retum (including income) since
the investment manager began to manage the portfolio on behalf ¢f the Foundation is 6.60%. The
directors consider the perfomiance against a composrte benchmark for charities adopb.ng a moderate
risk approach. The annualised retum of the benchrnark since the investment manager began to
manage the portlolio on behalf of the Foundation is 6.25%.
The charity has agreed grants of £30.000 to the Svlgrave Club and £7.000 lo the Federation of London
Youth Clubs in lurtherance of its objectives.
Appll¢Jtl¢ns
The charity does not accept applic3tsons for grants.
continued ovefleaf
Directors, Report
Page 3

Th¢ Sulyrnve Foundation
Tw$to8¥lDirector*' Report for the p•riod to 30 June 2021
Reservès policy
The charity wll establish a reserves policy followng receipt of assets and inlen(Js that this NMII be to hold
8ufficienl investments lo maintain an appropriate income level to meet ils grant commrtrnents.
Risk managom•nt
The charity has no operats'onal risks. When the Charity receives assets, it wll have risks associated %Mth
its investment strategy and it wll guard again51 those risks by ensuring, wth adwce from investment
Professionals, reasonable diversification of investment$.
Relatlon8hlp wlth other charities
The charity received all of the asse1$ ot The Sulgrave Charitable TYu$t Iregistered charity 2319521 on 28
March 2014. The charity has no relalionghip with any other general grant making charitie$.
Grant making policy
The Charity aims to expend an amoL*nt on grant5 that is in line wth the income eamed each year.
Public benefit
The directors have continued lo apply funds to The Sulgrave Club along ¥Mth the use of the premises
from thich it operates. In addition the director5 have applied funds to the Federation of London Youth
Clubs. In undertaking these actwilie5 in futherance ol the Foundation's objecthves, the directors confirm
that they have complied with the duty in Section 4 of the Gharitses Act 2011 lo have due regard lo the
Charity Commi35ion's general guidance on public benefit.
Signeil..
Date.. l.o./1 /2.1...
q¢npJr
, Director
for an on behalfofihe D1￿CtOrS, Twslees and Members
D1￿ctors, Report
Page 4

Th& Sulgravè Foundatlon
Stat¢m8nt of Flnanclal Activities
For the year ended 30 June 2021
yle 30Jun-21
yle 30-Jun-20
Notes
Incomin
Resources
Incoming ￿SOurceS from generated funds..
Investment Income
44,926.57
54,728.69
Total Incomin
Resou
44,926.57
54,728.69
en
Charitable aclivitie$'.
Grants to Charrties
37.000.00
37,000.00
Legal and At1minislrative costs
16.149.60
14,449.82
Total R
so
53.149.60
51,449.62
el income I
reco
nised
ex
in
endi
re other
223.03
3.279.07
insl
nvestment As
Currency- Realised during the year
Nll
10.031
Investments- Realised during the year
386A2
153.57
Inve$lmenls- Unrealised during the year
232.680.69
124.803.04
Net Movem
inF nds
224,844.08
{121.370.43)
Funds Brou
htFo
1.594,526.06
1,715,896.49
rried Forward at 30th June 2021
I B19.370.14
1 594 526.06
The notes on pages 7 10 9 form part of these accounts.
Statement of Financial Activ.
Page 5

The SulgrdV• Foundati¢￿ - Company Number 8250058
Balance sh8at
As at 30 Jun* 2021
30Jun-21
Jo￿Un-20
Not•s
Fixed a55ets
Real property
2.850.00
2,850.00
Investments
1,797,864.10
1,570,353.59
1.800.714.10
1,573,203.59
Current ass•ts
Cash al bank and in hand
18,656.04
28.322.47
Creditors: amounts falling du• wSthln one year
17,000.001
¢t eurrent assets
18,656.04
21,322.47
Net assets
1.819.370.14
1594,526.06
represented by."
Reserves
Unrestricted Funds
1.819 370.14
1,819,370.14
1,594,526.06
1,594.526.06
tion statement
Th• charitable company is entitled to ox•mption from audlt und•r S•ction 477 of thè C<)mpantes Act
2006 lor the year ended 30 June 2021.
The members hav8 not roquir•d tho charltable company to obtain an audlt oi its financial stsl¢m¢nts
for the year and8d 30 Jun• 2021 In accordance with S•ction 476 of the Companies Act 2006.
The trustees acknowl8dge thgir responsibilities for
al on$urlng that the charitable company k￿p$ accountlng records that comply wlth Sections 386
and 387 of the Companies Act 2006 and
bl preparing financial statoments whlch glve a true and fair vlew of the State of affaiys of thè
charitable company a$ at the end ol each financial yèar and of its surplus or deficit far each
financial y?ar In accordance with the requirèmenls of Sections 394 and 395 and which
Othe￿Se cornply with the requirèmants of the Companios Act 2006 rglating to financial
statèments. so far as applicabl• to thè charitsblo company.
Thosè financlal ststements have been prepared in a¢¢ordance ¥VFth the special provlslons of Part 15 of
thè Companie5 Act 2006 relating to small charilable companies and with the Flnancial Reporting
Standard applicable in the United Kingdom and Republic of Ireland IFRS1021-
The financial statèments were approved by tha Board of Trustees on ............................................. and
wern signèd on it5 behalf by-
Sianed".
Date.. lQ/i 12
by.. gAoA¥4 qCAfvJi
D1￿Clor
for an on behamof the Directors. frustees and Members
The notes on pages 7 to 9 fomi part of these accounts.
Balance Sheet
Page 6

The Sulgrave Foundatlon
Notes to the Flnancial Statements for the year to 30 June 2021
¢¢ountln
Polici
la) Ba$ls of pr•paratlon of financial ststsmènts
The financial statements have been prepared under the historical cost convents'on, wlh the excepts'on
of investmen15 which are induded at market value, and in accordance wlh the Statement of
Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in
accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS10212nd Edition issued October 2019 and the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland IFRS1021 and the Charities Act 2011 and UK General
Accepted Practice as il applies trom 1 January 2015.
The accounts (financial ststemènts) have been prepared to give a 'true and faif and h8ve
deported from the Charities (Accounts and Reports) Regulations 2008 only lo the extent Tequired lo
prowde a 'true and fair vievl. This departure has involved followng the Accounting and Reporting by
Charities preparing their accounts in accordance wth the Financial Repotring Stsndard applicable in
the UK and Republic of Ireland IFRS10212nd Edrtion issued October 2019 rather than the Accounting
and Reporting by Charitie$." Statement of Recommended Practice effective from 1 April 2005 which
has since been wthdrawn.
Ibl Incoming resourc•s
All incoming resources are included in the Statement of Financial Actiwb'es vthen the charity is legalty
entitled to the income and the amount can be quantified wth reasonal￿e accuracy.
Icl Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories
Ihat aggregate all costs for allocats'on purposes.
Grants payable are re¢ogni$ed in the year when the offer 1$ made, providing that any related conditions
thin the ¢ontrol of the Trustees have been fulfilled. Grants offered subject to conditsons vthich
remain wlhin the control of the Trustees and have not been met at the year end are noted as a
commitment, but not a¢¢rued a5 expenditure.
Value Added Tax is not rKoverable by the charity and, as such, is included in the relevant costs in the
Statement of Financial Acts'wlies.
{dl Cash flow
The financial statements do not include a cash flow slalemenl because the charity. as a small
reporb'ng entity wthin the provisions of FRS 102, is exempt from the requirement lo prepare such a
statement leffeclive 16 July 20141.
(el Invesbn8nts
Investments are slated at M￿et value at the balance sheet date. The Statement of Financial
Activities includes the net gains and losses arising on revaluations and disposals during the year.
(Q Taxatlon
The trust is a registere¢J charty and, as such, is not subject lo tax on ts income and gains to the extent
thal they are applied lo its charitable purposey.
notes continued overleaf
Notes
Page 7

The Sulgrave Foundation
Notes to the Flnanclal Statements for the year to 30 June 2021 (contlnued)
nv
yle Jo￿un-2l
ylo 30Jun-20
Unil Trust l OEIC Interest Distributions
Unil Trust l OEIC Diknidends
5,127.66
39,798.91
8.910.41
45,818.28
44,926.57
54,728.69
During the period, grants were paid as follows in furtherance of the charity's objectives..
ylo 30-Jun-21
yle 3O￿Un-20
The Sulgrave Club
Federabon of London Youth Clubs
30,000.00
7,000.00
37,000 00
30,000.00
7.000.00
37,000.00
4. Le al & Administ
Iv
ylo 30-ju￿21
yle 3O￿Un-20
Legal & compliance f•es
Investment manager fees
Independent examineV$ fee
10.207.00
4,922.60
1.020.00
8,562.00
4,897.62
990.00
16,149.60
14,449.62
S. Fixed Ass•
Rèa
yle 3O￿Un-21
yle 30dun-20
287 Goldhawk Road, London W12
staled at orwinal cost to The Sulgrave Chantsble Trust
2,850.00
2,850.00
2,850.00
2.850.00
Propety is location from wh)ich 'The Sulgrave Club. operates
not8s continued overteaf
Notes
Page 8

The Sulgrave Foundation
Notes to the Financial Statements for the year to 30 June 2021 Icontlnued)
6. Fixed Asset- Inv
yle JO￿Un-21
yle 304un.20
Historical cost at 1st July 2020
Additions al cost
Disposals al cost
Historical cost at 30th June 2021
1,532,831.98
1.538,319 37
5,170.18
1,527,661.80
5,487.39
1,532,831.98
Cumulatsve unrealised gaIn￿(lo$Se$l al 30th June 2021
270.202.30
37,521.61
Maiket Value
Sheet
1.797,864.10
1,570,353.59
Structure of the
rtfolio b
rk
value
Mulli-Asset Class and Other Investments
100.00%
100.00%
eri
nvestments as % of ortfojio valu
OT above
Bardays Charity Ful￿ R GBP Disl
100.00%
100.00%
7. Creditors: amo
nts fallin
due wl
In one
ear
yle 30￿U￿-21
y1• Jo￿Un-20
Due to Federabon of London Youth Clubs
7.000.00
7.000.00
' Remune
During the year no trustees received reimbursement for expenses or VMS in receipt of any other company
monies.
Notes
Page 9

The Sulgrave Foundation
Examinerfs Unqualified Report
Independent Examinerfs Report to the Trustees of Sulgrave Charitable Trust
I report on the accounts of the charity for the period ended 30 June 2021 which are set out on pages
five lo nine.
Respective rosponsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's Iruslees
consider that an audit is not required for this year lunder Section 144121 of the Charities Act 2011 (the
2011 Aclll and that an Independent examination is required.
It is my responsibility to..
examine the aecounts under Section 145 of the 2011 Act.,
follow the procedures laid down in the Geneml Directions given by the Charity Commission
(under Sectson 14515llbl of the 2011 Act), and
stste whether particular matters have come lo my allenlion.
Basis of independent examinerfs ststement
My examination was carried out in accordance with General Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the charity and a
comparison of the accounts presented with those records. It also includes consideration of any
unusual items or disclosures in the accounts, and seeking explanations from you as Iruslees
concerning any such mallers. The procedures undertaken do not provide all the evidence that would
be required in an audit, and consequently no opinion is given as to whether the accounts present a
"true and fair view" and the report is limited lo those matters sel out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention..
which gives me reasonable eause to believe that, in any material ￿spect, the requirements..
to keep accounting records in accordance with secb'on 130 of the 2011 Act", and
to prepare accounts which accord with the accounting records and comply with the
accounting requirements of the 2011 Act
have not been mel., or
to which, in my opinion, attention should be drawn in order lo enable a proper understanding of
the accounts to be reached.
M S Leigh BA FCA CF
Azets
Chartered Accountants
Ashcombe Court
Woolsack Way
Godalming, Surrey, GU7 1LQ
Date..
12 January 2022