The Society of St Stephen's House Financial Statements For the year ended 30 June 2022 Charrty R•g1Strn￿oh Number. 11n459 Company Registmtion Number. 11199178 The So¢lety of St stoph¢n'$ Hou$• nnual R¢port and Flnèn¢lal Stat•monts Contents INDEX PAGE Charity Infonnation Trustge8' Report Auditots Report 8-11 statementof AcLounting PolirAes 12-13 statomentof Flnanrlal Acti￿tIeS 14 Balance sheet 15 Slatementof Cash Flows le Nots8 to the Flnancial Stat8Thnts 17Q6 Thè 8ocl•ty otstStsphon'F HDU Charlty knfowrnatl( Forthtr ￿Ar @ndod 30 Jun• 2022 ThB s￿￿0ty01SI Stophon'$ Hwse L% o Yegl$lered ¢harfty¥rKI a tompany lknrted byguaiBThlee. kncI' Mr tYJn¢an Heg8n lfrorn Februory 20221 InomlnaL8d tyth8 Sludenl Cr4nrnon Roun) Dr. Mark Phi1ptstt (to O¢tithr 20211 {r￿MInated by IheArAdemlc Stsffl The Revd Luty Gardnw (from O¢tob8r20211 Inomln8led by theAcademlGSiaft) MrMich8d thxon (to FebruBry 20221 bythe Sludem Comm(xi Rooml + ￿1* tsualéès alt•Th1￿ At Il* Howse Cr￿n¢11. Thg Revd Andrgas IVlr*Prfndpll rs AJ16Dn PatkgrlBursarl ICornpanyS9¢rst¥ryl" Thg Reyd Chrt5tOpherTru￿1e lappdnled Genornl Synod) Mr Da¥￿ (from FBbruary 20221 (non￿n￿te9d tytha siudènl Comw R￿rnI MrB Thllllle Day (to F9￿uary2o22l {nLKnlnal8d by IhB Sludenl CDMMDD Rooml Th• FI￿n￿ and G•rK9r81 AdvlsorL' Oxford We51Way branrh S9aWUrt Tts¥¥or. 2nd We¥1 Way Oxford OX2 OJJ 8ollchots.' Sl¢no Iqr 13 Quaan Squaro Avon BA12HJ Audhorts.. c￿l£h1￿y$ LLP aver House 2￿8 Hythg 8lrgat Oxford OX12EP Tho Soclety of St Stgphon's Hou$0 rru$toes' Report For the year ended 30 June 2022 The Trustees present thelr Annual Report, In¢orpomtlng thelr Dlreotors, Report, lor the yw 6nded 30 June 2022 under lh8 Charities Act 2011 a￿£ Companies Act 2006 together wth the audited financi818taternenls for th8 y88r. STATEMENT OF TRUSTEES, RESPONSIBILITIES Th8 trust88S Bre r8sPL￿5ib10 for preparing Ihe annual r8POrt and th8 financi81 stat8rnen￿ in 8cc(xdance with appllcable Unlted Kingdcqn law and wfth United Kingdcm Generally A￿epted Accounfjng Practlces. Ch8rity18w requir88 Ihe Iru8t888 to pr8par8 finanraal 81at8rn8nts for each financial y88rNthith uiv8 8 tnJ8 and fairview of the charlty's financial acllvltles during the year and of ts flnanclal posllon ot the ènd of Ihe year. In preparfjng U)ese lh8 tW8le9s are rgquir8d io.. 6elecl Suitable ac¢ounling policie8 and then apply them con818tenUy'. makel￿geMentS and estimates that are reasonable and prudent., fdh)w appllcable acwuntlng slandards and the CharlUe6 SORP, dFs¢loslng and explalnlng any departures in Ihè finandal stalèmants. and p￿pa￿ the financ5al ststements on the golNJ concern ba91s unths It Is Inapproprfate to presume thatlh• charity wll continua In tsperation. The Inth8 oro r83ponsilAo for kgeping acrx)unting records tr8t disdose, wlh reasonable ￿¢￿r8¢Y. thg fin8ncial poslllon ol the charity at any tlme. and to ena1￿? them to ensuiè that the financial statements comply charity law. They ar8 81so r85ponsibl8 ft>r saf8gUard1￿ th8 a88et5 of th8 charity and henrx for lakin9 r88scffi8b18 St8ps for th8 prevention and detection of fraud other irregularib"e8. REFERENCE AND ADMINISTrATIVE INFORMATION Th8 Charitywag foundèd in 1876 and w&s pr6viousty registèr￿ ￿1th the Charity Commission under Charity numb8r 309893. on 12th February 2018, The SocSety of St. Stephen's House IncO￿Orated as a prlvate company Ilmlled by gu8ranleÈ and registered as a charity on 7th M8reh 2018. The a$8et$ And Ilabil￿e$ were transferred from the unIncor￿rat0d charity to Ihr6 limit8d company wth effect from 1st July 2018. Thg House Council members al the date of Ih15 report and of th05& in office during th8 year, tog8therbwth d8taik of th8 s8nior staff and advisgr5 01 thè so¢￿ty, are set ¢)ul on p8ge 3 01 thi8 rgporL STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Do¢um•nts The eholty Is governed by Its Memc*andum Artlcles on 12th February 2018 As £mended on 18th June 2018 Ènd 13th November 2018. Govemlng Body Tho House Council. cximpri8ing 811 th8 trnst88s, is th8 s￿le￿3 gove¥ning body.11 Indud98 a staff and a $tud8nl r£presanlatlve and is supported by non-voting staff and studant m6mbers at Its meetings.The House Councll determines the ongoing Strateg￿ direction of th8 Society and regulat85 its admSnistration and the management of it8 rinances And assets. It r￿ets each tem) and (s odvised by the FSnance and Generd Purposes sulx¥>mmltteè. Nèw m•mbars of the House Coundl aro appolntsd accy)rdirKJ to the temis s6t out in Ihè Ch&rity's Constltutlon fcw ihè varfous ¢at8gori8s of memb8rship, aft8r an appropriat9 audit of lh8 governance skill$ required. Thè Socloty of St Stophan'8 HO￿$￿ Tru$t•o8' Report IconVnu8d} For the year endgd 30 June 2022 Rècrultm?nt and tralnlng of Tntsto•s The Twst885 bi-annually review their role and way of condudng busin8ss at a two4ay Re51dential. Indivldu81 Trustees take on 3￿CIfiC responsib$1ities f£v the various 8r885 of govemance 8nd coMp￿an¢9 ￿1￿ tha support of th? 8ursar. Th8 Prlndpal supports the Chaim)an r808rdlng Trustee recrultmant and Hou$8 Coun￿1 membership. Remuneratlon of Trust•es and Sgnior College Staff The Trusteès receive nelther remunera￿On nor benefits frorn t￿Irt￿Slee$hIp of the Soclety. Th058 Trustees are also 8mpkJyees of th8 s￿￿ty re¢oive remun8ralon lor their work a5 8mployees of th8 Soclety. For Academic staff Ihis Is In w)rdanc6 ￿th,￿Chfi9]d, Scale issued annu811y by the ￿nance Commfttee ol thg Mlnistry Dlvlsion of Iho Churrjb of England. For 8dmlnlstrative 8tsff, th[$ Is In accorda￿8 with Ihe relevant pay scales adoptsd by Ihe House C¢)uncil from those set oul by th8 Unlv6rsity of Oxford. Organlsaflonal Manag8mont Thè Soclety is rnanaged by the Hou56 cou￿Al. Thg Housè Councll Is aL4o reSpDnsl￿0 for setting and wkntsing th ¢or8 polides of the Souety. These polici88 Include a Safeguarding Policy Incorporating the prlnup18s of Ihe Hou88 of Bishop's Policyfor safeguarding childM (Pioleding All God'5 Children, 20101 and safeguarding 8dults in the Church of Engla[￿. (Promoting a Saf8 Church, 20061. During 201&16 The Socièty's policies w8r6 also updat8d to in(x)rpLYale the r8quiremÈnts and re¢omrnendations of the Govammont Prev8nt slr&togy. Thg Health and Safety Policy is ad￿Sed upon by Peninsula, and updated annualty. Th8 work of Inylem8nting most ol its polici88 15 carrfed out byth8 Flnance and Ge￿r&I Purposes Cornmthe, Ythlch met seven time5 durlng the financial year. The day to day running of the SocAaty Is dd8gat8d to thè Pdncip81, SUpp￿ted by hi8 $t8ff. OWECTIVES AND ACTIVITIES Charllablg Objects and Alms. Activitles ond Obl8Ctr¥trs The Sw8ty'5 oblect is to luifil its educats.onal aims as set in Ihe Memorandurn and Aruclos, b&1￿ Yurthedng the educatlon and training ol Gradual88 of the UnlvorsiJ8s of Oxford and Cambridge STKI others pr8paring for Mission Work abroad orfor other MSnisterfal In thg CtsJrch of England or the Churches in communion ￿1th th8 Ghurch of England and for such other purpos85 as may tend to 8id or lurther this general object." The Hou8e Coundl has consldered th8 Charfty Cornmlsslon's guldance on pubk benelK and in keeplng wth its oblgcts, the Sodety's alms for the publ1¢ bgn8fil are to Iraln cJ8rgyfor the AnglicaTh Comrnunion and to en*￿e student5 to pursue graduate prof885ional training and ac8dernic research In Educauon, Theological Studies and such rdatsd edutsUonal actlwtlg8 In the Univgrslty of oxford as are consonant with the Tru8t Deed. ACHIEVEIrtENTS AND PERFORMANCE In furthenng its ¢harft8ble oblèct thb year, thts Sodety has been the Bdu¢alional horne 103 students12021- 92 studentsl. 1712021- 191 ordinands 3 post ordin&tion candidate5 hgve studied in 8 varf8ty of ways und8rgraduate and gr￿lUate courses at the University of Oxford, program8 wlthin St. Stephen'8 House, and th8 Common Award program validat8d for the Church of England tsy the Univ8rsity of Durham. 2412021- 24} students hav8 ufKlortaken a Postgrdduate Certificat8 in Education and the So¢lety has wdc(xned 6212021-491 fulklime and part-lme and wntinuing $tud8nts from the UK and overseas studying Yor hlgher degr8e8 In Iheology. fjducati￿. orient81 and Late antsqug and Byzantlne 8tudi8s. psychiatry and linguiskn"cs. Thè Soclgty of St Stsphen's House Tru$tees' Report Icontlnugdl For the year ended 30 June 2022 FINANC￿ REVIEW Th8 full details of the financ181 p9rfoThnancg for the year Is glven In the Statement of Flnandal Actmlies ISOFAI on page 14. Its assets are Spl out on the 8alBnG8 Sheot on pag8 1S. N8t 8XP8nditur8 b8for8 gains 1105888 lor th8 year is £368,43512021- £359,681). The d8flcit Is Igrg8ty attribul8ble to thg Covid.rglated ¢an¢ellaknon of summer 2021 ￿nIer&n¢8 busln6ss, reduced studonl fees due to numbers and mlx of 5bJdents, costs relating to r8slnkcbJrirtq of ac8d8mic provision and th8 £204,607 buildings d8pwation ch8rg8 8el 8gain8t th& r8V8Iu81ion reserve. Donations, grants and bgacy income incraased to £239,31312021- £215,374). The S￿￿ty 1$ grateful to th8 ggnerous supprKt of all its donors, wthout whom the work of tha Sodety could not conthue. DonatI￿S and grdnts of £10.000 and above Included In the flgures abovo.. Thè Fred￿l¢k Q Lawson Foundation £72,748 Th8 Ang]0 Catholic Ordinabon Candidats8 Fund £60,000 The Fdk)wship ol St John IUKI Trust A580cI8Uon £37,000 Bishop G80ffrey Rowell- legacy £33,000 The Cleaver Ordlnatlon Fund £10,000 The Yves Guihann8c Foundation £to,000 The overall net movement in funds was a redudon of £480,87012021 - Incrèasa £19.6581. thè differ￿ce baiflg 8ttributable to movements on inv8Strnent, fix*1 ass8t and p8nsior4 valuatrDns. Resgrves pollcy The rgBgrve8 pollcy Is to malntaln unrestrict8d Teserveèat a level equivalent trp atleast three rnonths operating costs. This ￿lIcY 15 reV￿1v&d annually. Tol81 lunds of the soo￿ty as at 30.06.22 are £15.881,60712021- £16,342.4761. The prfor year funds have been rg$tat8d followi￿ a further revaluing of gquity and loan al lalr valug In relalon lo 38 Jamos Street. Of these funds, £325,04712021- £295,229) are ckssfièd as r95tricted wth the r8rnainder unrestrictgd. Of th6se unrgstricted funds, £1.166,147 {2021- £1,152,643) are h8ld in th8 Appeal fund . this b81anc8, 85 last year, in¢ludÈs £45,777 of unrestrfctod donallons deslgnatad for the futur& development and wanston orth• dellvery of the organlsauon's cor& purpos8. Iwgk management The H1x￿e Council, through the FinancL and General Purposes Commmee, keep under revlew the major rfsks laced by th8 SoC￿ty. The rfsks are categorf6ed under dght septtr8tè types imp8Ct I prob8blllty scores for èach and a re￿r￿ kept ol arlion etth8r needed or taken to manage and mitigate th9So rfsks. The types ol risk considered are in Ihe argas of Strategy, organlsatlon, students. staff, buildings, financial contrd, inforrnation and IT provisK)n, and provision of services. At the operath)nal level, rfsk assessments are used to managè the risks assoolated wlth 811 signiflcant aotIV￿leS. The Soclety ot St Stephen's Hou8• Trust805' Rèport Icontlnued For the year ended 30 June 2022 Inv05tm¢nt pollcy, objectlV05 and perfomi8n¢g The Investment portfolio is Overse￿ by the Financ8 and General Purpose3 comrnlttg9. Funds are Invested sn M&G Charifund unlts and the inv8Strn8nt property 23 James Stregl, No funds were invested nor r818a58d fr￿￿ M&G Charilund In the yaar. The walue of Inve$lm8nt8 held in M&G CharifuThd was £5￿,11612021 _ £521,992). FUTURE PLANS Thr8e significant ex18mal fadtsrs eontlnue to sel the Context for future plans. n8m8tyth8 Church of England rgvw of ils education, the Oxford Univgrsty vAthdrawal of pemilssion to Its PPHS io offer awards acrThdit8d by other un￿¥&r$It1es from a￿9d8r￿￿ y6ar 2023-24 Idglayed by one yearl and to some ex18nt. the reverberations of th8 Covld- 19 panderniB. The Sod8ty Ltjntlnuas to develop It's work through an onllne pre58nc8 via thè Edward ￿ng C8ntre- three students sbjdled ftx Cornmon Awards degrees via this rout8 in the eurrent year and rnore a￿ planned lo stuoy Ihl8 way in the fU￿re. Approved bythe House Council on ............ . and $kJned on tt6 behaff by. The RIgh¢ Reverénd Dr Martln Warngr Bl8hop ol Chlchester Chalrman of the Councll The 8o¢lety of St stephen's House Independent Auditor's Report to the Members and Tru$t••s of the PJoc19ty of St St•ph•n's Houso For thè year Onded 30 Jun8 2022 Indep•nd•nt audIt0￿5 rèport to th8 rnombers of The Soclety of St stephen's Hou Oplnlon Wa h8V8 8udit8d tha fln8ncld 8lal6ments of The Society of St Stephen's House Ithe'charftable Compan￿,) for the yoar anded 30 Jun6 2022 which (x)mPriSg the Statement ol Flnancial A¢lNlties, thg Balance Sheet, Cashflow Statemènt and notes to the financial staiem8nis, includirw significant accoounting Oicies. The fin3ncial reporuro framewort( that has been app116d in th@ir preparation is applicAble law and Vniled Kingdom Accountiro s￿dardS, Induding Financial Reporting Standard 102.. The Flnanelal Reportlng Standard 8pplicabl8 in the UK and Republic of IrelaThJ Iuniled Kingdom Gen9rally Accgpled Aceountlng Pr8cticel. In our opinicm, the finana818lat8ments'. ' give • truè and falr view of the $lats of tho Charity's affairs as al 30 Jun8 2022 and of its income aThJ expendlture for thè year than •nd9d'. • have been properly prèparad In accordanc8 ￿th Unitsd Kingdom Gen8rdlly A¢cepled A￿OUntIng PT8cIi¢g.' • have been prepared In aCc￿danCe wlth the requirernent5 of the C<)mpani85 Act 2006. Bagls for opjnlon We cu)ducted our audtt in accordance wtth Irrternalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitiès under those standards ar8 furth8r d8scrib8d in th8 Auditor's r88ponslbilllle8 lor the audit of the financlal statemernts seclon of our report. Wo ar6 independent tsf the Charilablg company in accordance with the ethical requirements that a￿ rethant to our audit of the fin&neial stat&mènts in th8 UK. including lh8 FRC'5 Eth￿￿1 Standard, and we hav8 fuffilled our other ethical responsibilities in a￿r￿an￿ with these requirements. We bellev• that th8 audit 8viden¢e wg have oblalned is sufficiont and approprlate to provkJ8 a basls for ouf oplnlon. Conclusions relating to going concern In auditing the financial statements, w8 have concluded that the trustees, use ol the golng ￿n￿rn basls of accounting in th9 preparation of the finall￿al slatemgnls is appropriate. B889d on the work we h8V8 perforrngd, we have nol IdenUNed any ma¢erfal uncertainties relatiwJ to avgnts or (x)nditions that, irKIivKlually or co118CtiV81y, may cast significant doubl on the charitable oompanies ability to c4ntinuo as a going concem for B perlod of At ￿￿$t 12 months from wh8n the fin8wal statements are aulhorised for issue. Our responsibilities and the responslbllltl•s of th8 Trusteès with r&s￿et tr) golng ¢on¢om ar& floscrfbgd In the relgvant seeli(m$ of this r$port. other Infomiatlon The other infomation comprises the Informauon included in the annual rgport. Ir￿lut11￿g the tfU5t895' r8FY)rt, other than the financial st3terneThts and our auditor's report thereon. The trustees are responsible for the othtsr Infonnalion ¢ontsin8d within the 8nnu31 report. Our opinion on the financkgl ststements do&s not cover the other information 8nd, ex￿P1 to Ihg gxtenl olhgrwlse expllcrfy stated irn our report, we do not express any fomi of assurance condusion thgreon. Our responsibillty is to réad lh8 other information and, tn doing so, Consid￿ whelher the other information Is materially inconslstent wlth the fln8ndal staternents or our knowledg8 obtained in the audit or otheThwse appears to be materlalty mlsststed.11 we Identify guch mat8rf31 Incon818tencl98 Qr apparent material misstatements. we are requiied to detemilne whether this glves rlsè to 8 materi81 mlsStat8mént in the financial statements Ihem891v85. W, based on the work we have performed. we concludo that IheFE is a malerial rnisstat8rnent of this other inforrnabon, we are requir&l to report that fact. We have nothing to reimjrt in Ihls regard. Th• Soclety of Sl Stephen's House Independent AudStor's Report to the MembeT8 and TrustggB of th9 soclgty of * St•phon's House For th• year endod 30 Jung 2022 Oplnlons on othgr matters pro8¢rfbgd by Ihg Comp?nlg$ A¢t 2006 In our o￿nIOn. based on the undertaken in thg cour3e ol the audit.. . the information given in the truste88' r8POrt. which includ8S the dlrector5' report prepared for the purposes of company law, for flnancial yearfor whl¢h the fin8nclBI statements a￿ prepared is con&slent with the financlal ststements., and . the difg¢tor3' rgwrt Included wlthin tha trustees, report has been prepared In aco)rdance with 8ppIic8tr1818981 requirem8nts. Matters 4)n which w¢ roquir•d to roptsrt by axeèptlon In the lighl ol the knowlgdge and und8rslandlng of th8 comp8ny and rts Ènvlronment obtained In ihe course ol the audit. wg have not idgntified malorith m15$1ai&m6nts In Iho dlrectors, reFMJrt Included within the tNsleg8' rerM)rt. W8 have nothlng to r6port in respect of the lollowing matters in relation to which the Companlo$ Act 2(￿)6 requlres us to report to you if, in our oplnlon.. ' adaquale and proper accounting records have not been kept,. or . tha finandal statements ar9 not in agTeemgnt WTth the accounting records and rgiums- or ' certaln dlselosures ol trustees, iemuneralion specffied by law are not m8d8.' or . we have not obtained all the inforrnalv)n and explanations we require for our 8udlt R•8ponslbllltles of the trustees As 6xplAlThad more fuliv In the trustees. responslb11￿es staterngnt set out on page 9, the trusteas (who are also directors of tho charitable company lor the purposes ol company law, ar8 f85FK)n5ibl8 for the preparakn)n of the flnanclal statements aThY for bwng $8tisfied that they g¢v8 8 tru8 and f8ir wew, and for Such Internal control as th trustee8 determin8 18 ne¢e838ryto en8blo the prop8raUon of flnanelAI st8tements that are free from matgrial misstatgrnont. wh8ther due lo fraud or error. In prgparing Ihg ffinan(aal statements, the trustsas are respC￿$1b1e for assesslng the companls ability to continue 85 a going concem, disc105ing, as applcab18, matters related to golng concem and using the going conc8m basis of accounting unless thè tnjstees erther Intend to liquidate the company or to cease OP8Tation8, or h8vè no reallstlc alternatlve but to do so. Audltorfs rgspon$lbllltle5 for the audll of the flnancial siat•m•nts Our obje¢tive$ arg to obtain r88son8b18 as5ufdnC8 about wh8ther the flnandal statements as a whole ar8 fre8 fn)m material misstat8ment, whether due to fraud or error. and to issue an auditorfs report that includes our Qklnion. Rea80nabb as8ur8nce is a hlgh level of assurance. but Is not a guarantee that an audlt condu¢ted in a¢(xYdan¢8 wth ISAS IUKI wlll a￿ayS detect a mateiial mlsstatement when11 exlsis. Misstat8m8nts can arise fr(￿ fraud or error and are considered material il, indiwdually or in thè aggregate. they could r&8sonably be expected to infl￿nCe Ihe econornic derASKJns of users lak¥n on tho bosls of these ffinand81 statements. Irr8gularitses, Includlng fraud, are instances ol nonvcompliancg wtth laws and regulations. We daslgn procedures in line with our responsibl1￿8$. outllned above. to detect material mY6slalements in resP8Ct of irragularftles, InC￿ing fraud. The oxient to which our procedures 8re rap8b18 of d8t8Cting irr8gulariti85, Indudlng fraud is detsiled below.. Our approach to idenltyng and as3e88ing the risks of materfal m1951at&mernl In respect of irreguL4rities. i￿Udi￿j fraud and non-compliawe wlth laws and rggulatlons, was a8 follows.. •th8 eThJagement partner 9nsured that the engagemènt team collecttvely had tho approprfate cornpetence, capabilities and s￿115 to id8ntify or r8cogni58 non-compllanc8 wlth appllcable laws and wutations- e identrfied th8 laws and regulations appllcable to the charSty through discussions with Trustees and oth¢r management, and from our knowledge and experlence of the cllenys sector g focu98d (M) spbdfie laws and regulatlons whith we considered may havg a direct materlal èffgct cn tha flnancial stslements or thg oporallons of th& charity, including Charilles Act 2011, taxauon leglslalion. d8ts prO18Cb￿. employrn9nt and pensioThs, plannlng and health and safety legislation., W8 8858ssÉd th6 extent of complrdnce with the laws and regulations idenlffied above thro￿Jh maklng enq￿lrfes of management and. where rebvant, Inspecting legal corr8spondenc8- and .'d8ntlr￿d Lsws and regulations were communicatsd wllhln the audll team regularly and tho teom ramaSnod alort to Instana8s of non-cornpllan￿ Ihroughout the audit. Th• Soclety of 8t stephen's House Ind8p8nd•nt Audltor's Roport to th• M•M￿r5 and Tru$tee5 of the Society of St St•ph•n's Housè For the year ended 30 June 2022 Irr8gularibes, In¢luding fraud, are instsn¢es of tK>n-complian¢e with laws and regulations. We design prwdures in 1Sne wlth our responslbllllles, oulllned above. to datect material rnlssialements in respect ol Srregularities, indudir fraud. The exlenl to which our procedures aro capable of deloc￿rrtJ Irregu￿￿tIes. IncludlrrfJ fraud is detailed beh)w-. i)Jr 8pproach lo Idonlifylng and 8$sesslng th8 risks ol malerial ml8slatemonl In respocl ol Irrogularitlgs, Indudlng fraud and non-compllance wlth law$ and rogulatltsn8. was 88 follows: the gngagemgnl partner ensured that Ihg engagement tsam colleclvefy had the approprfalg competence, ap3bilillss and sklll$ lo identify or rew91￿$8 non-cornpliance with applic8bltr law$ and r6gul8tlons,' ' we Identified the laws and regulations applicable to the charfly through dlscusslons wilh Trustees and other rllanagèm6nl, and from our knowledg8 and 8xp8rianc8 of thè cli8nVs s8Cttsr, ' we focused on specific laws and regulations which we considered may have a direct material effert on the fin8naal statements or the operations of the charity, including Ch￿r￿eS Act 2011, Oxford University requirements, taxation legislation. data proletrlion. employment and pensions, planning and health atKI $afety18gi$la1S0n', • we assess￿ the extent ol compliance with the IBWS and regulations identifiwj al>)ve Ihrough making enquiries of rnanagemwt and, whore rel&vant, inspeding legal correspondence.. and Sdenlified laws and regulations were communicated wthin the audit team rggularty and the tgam remalned algrt to in$lances of non-CoM￿l8n¢b Ihroughoul the audit. Wo assessed the susceptiblllty of the Charity's fin8n¢181 $18lem8nls to m81erfal misststement, [r￿lUdIng obtalnlng Bn understanding of how fra￿j might occur, by.. making enquiries of Trustee8 and other management as to where they consideTed th￿8 was su3ceptibility lo fraud, their kn￿edge of actual, SUSp￿ted and alleged fraud,. and ' considerlro the Intemal wilrols In p￿te to M￿gate risks of fraud and rton identify any unusual or unoxpecW rtslation8hips', lested joumal entries ILTr idgnlify unusual transactions., * asse888d whgih$rjudg8ménts and 888umption8 made in d8lerrllining the accounting estimate8 wgrg Indi¢81ive of Itenlial bSas', and • investigated the rationala bèhind sign1ficant or unusual tr8n$a¢tion$', In re¥sx)n8è to tha rfsk of Irregularltlès and n0￿complI9n¢è wlth18ws and rogula￿On9, ￿ d8slgn8d procèdurès which induded, but were not limited to.. 4 agreeing financ4al statement disclosures to Under￿ng supporting documentation- ' raading the minutes of mogtsng$ of Ihosg ¢harged with gov&m8n¢g', onqulrfng of managernenl as to actual and polgntSal lillgation and clalms,. ' if considered ne¢es$ary, r&viewlng correspondenco wlh relevant rttgul8tor$ and the ¢ompany's18gal advIso￿. There ara Inh&mnt limitations in our audit procaduras described Bbov•. Thè mor• removed that laws and regulations arg frorn financi81 tran&adions, the1gS8 likety il is that we would becomg aware of non-etsmplian￿. Audlting standa¥ds also limit the audit prO￿dureS required to identify non-compliance wilh laws and regulations to enquiry of th8 Tru8189y and other m8n8gem&nt and the in$pgCtlon of regulatory and18gal wrreswndence. If any. Material misstatements that arl88 du& to fraud can be harder to detect than thos& that ari80 from error as Ihgy may Invo￿9 delSbarate conceament or ￿llUSIon. 10 The Soclety of St stephen'8 Housg Indopendgnt Audltofs Report lo th? Member¥ and Trustws ofthg Soclety of St Stsph¢n'8 Houso For tho ￿41 ondod 30 Junè 2022 A fvrthtrrdosulpuon of our rgsponsSblllll8$ for the audll of the financlal statsments Is lo¢atad on the Flnand81 Reporting Council's website al.. ¥￿¥w.frC.org.UkIaudiIorsreSponSlblliI1es. Thi5 d85rAiption lorwns part of our auditor's r8POrt. LI￿ of our r•port This raKK)rt Is made solely to the dmrltablo companrfg memb8rs, as a body, In accordance vthh Chapter 3 of Part 16 of the Companies Act 2006. Oijr audit w(Yk ha5 been undertaken so that we miglrt state to th6 charltabls companls members those matters we are required to state to them in an audilorfs ieport and for no other Purpose. To the fullest extent Pgmiltted by law, wg do not accept tsr aywmtr rssponslblllty to anyone other thèn th& charitable company and the charitable companvs members as o body, for our audit work, for this report, or for the opirbion8 we have foitned. Robort Klrtland. Senlor Statutory Audltor For #nd on ￿hall of Crltehlèys Audlt LLP Beaver Hou50 23.38 Hytho Bildgo Street Oxford OX12EP Dat•: 2311112022 The So¢lety ol St Stephen'$ House statomènt of A¢¢ountlng Poll¢l88 For tho yfrar ended 30 June 2022 Charrty Informatlon and morgor accountlng Thfy SoC￿ty of St Stèphèn's House 1$ a règIS￿red chartty and a cOM￿ny11m￿Od by guaMléÈ, In￿r[K)rated on 12th February 2018 8nd re918t&￿ as a th8rf1y on 7th March 2018 Ith& as8el8 *)d liqblkt18s of the unln¢orporated chadly The Socletyof Sl Stephen's House. fomied by an indenture dated 16th August 1876 8nd enro11￿ In the Hlgh Court of Jusllctr Ichancery Dhfl$lonl, weiè tr9nsferred by deed ortrartsfèren 181 ju￿ 20181. Th1$ has be8n a¢￿unI￿Al for uslng ￿￿rg&r 8rtounUng a8 rwulr8d byth8 FRS 102 SORP In order io pr888nt a true and fair ¥18w. For as8elB under4 Gharty Comml$$ion S¢hsrno, Tho s￿l0ty￿ St stBphon'$ 1$ nowth9 $010 T￿tea of Ih81 thBme and the 8ssels und8r th8 Sch8m8 8r8 now underth8 Control ofthls ch8rityand Includ8d in Its accounts. Under mwyeraccounllrw Ihè ¢xJmp8raVv8s r4)re88rstth& résults and finandal posllon of th• unlncorwratsd charlty Ilh8r8was no acthlty In the charttabl8 cornpany Ilmlled byguar8ntee beforo th0Th1. Basis of Prèparatlon Th8 Nnanoal stal8rnent8 have been prepared In accordan￿￿1￿ Unlted Klngdom ACCOUn￿ng Stsndgrdy. in cular 'FRS 102.. Tho Financial Reporting Stsndard applicab￿ in the UK gnLI RepL*)lic of Ireland, IFRS 102) a￿1 In accorda￿8 vilh'Thg Stslemenl of Recom[[￿ded Pr8ctiGe aP￿iCabl0 io chttrities preparing thèi[f￿2￿Clal 8tstémènt8 In attord8rt8 TrAryth FRS 102. (rhè Ch8ri1I88 SORP IFRS 10211. Thefinanaal slatements have be8n p[e￿red on a g￿r￿j bBs1s arKJ on Ihe hlstthcal co8t b8s1$.Thè ndpd accoundng p￿1¢￿8 adopted are sat out bdow and hav8 been aPpl￿d conslstenttythrcugh(Krtth8 year. Golng concom the dgfi(at1n Ihg Gurrwt and pr8otous year. Iht charltyls foreGastsw a $uiplu$ belore bulldings d8preciatK In 2022-23 and ha8 Slffi￿8nt r888rv88 to conOnuè followlng thè Covid rélatsd dIsrup￿on8 to Income gen8rallng vNI8S Fund accountkng UNe5trkted fund8 are avalkt48 for use at tho dlscretlon of the truste6s In furthewce ofthe gwrol dJJedlves of the tharity. Daslgnsled fund$ aro unres￿¢tOd funds ¥Yhlth have be9n either dlocaiad or 8xpendéd byth8 INst868 for a specifièd purpos&. Re3tdcted funds are funds whl¢h are Lo be u$ed In OCGtsrdaneevAth specmc reslriclk)rts imposed by donts% or hlth have rals8d bytha chorNy for par￿¢￿&r purposès. Tha nalurè of each rtrstrlcted fund Is set out In the notès lo th8 8cwJnts. Feets •nd othar Ineome Sludtrnts, faes, rents and educalonal summ8r school Incom8 ar8 accwnled for In th8 P8iknd In which the servlco or far*tMe8 ar8 provid8d. Voluntary Incom• Donalh)ns and gift8 are recogn16ed on reL4pt bythe char￿. Legacies are rewwl8ed vthen Ihwe Is assurance of their receipt gnd the amounl 1$ knDwn. ArThyJnts re091v￿ for aclthlias rè8Mb*ed bylhg wlsh98 of tt)8 )rN)r arè ￿￿1 In reslrfctad ftJThJs. Re8our￿ expondod ReswrGe5 ewended are foron an b8515. Ovethead pnd othèr costs 8llopAtsd ttr r8k8¥￿t (atÉgtrri8s by management Governanc8 costs compyiye 411 cogts ass￿at0￿ wilh constitijtbnal and 5talutory rgquirgThnts. Th059 Includ Hou% Coundl expon$g$, ￿0ft89￿)n&I advte 8nd ext8rnal audlteo&t8. The Irr6cover8bl& elementof VAT is In¢l￿￿ed within administra*"ve overheaY5. Tanglblè fixed assets Land is staled atcosl. BU1￿1n￿8 and aqulpm6nl8ra stated at r8lrvaue. ltsm8 18S% than É500 ar8charg8d lo the i¢)com8 arpJ axpandlture account as It￿rred. u￿9r FRS 102, the Soc1* has 818Ct8d to use th8 f81r valuè offre8hold prop8rtles as a'daemad cosl. Th8 valualon was undeit8k8n by an Ind8P8nd8nt firm of Charlored Surv8y0￿ on 27 Juty2016 on tho basis ol oppn mark8tvalug on u80. 12 Tho Socwty ol St 5tophfyn'$ Hou staternentof kn¢ounti#g Pollclos For th& yeat ¢ndod 31 June 2022 Fthanoe c08ts Incurred to ftmd the Imrrfovements trj the property have b9Èn rApltalzed. The amtyjnl Inolt¥Jed in t of thefreehokl propety Is shcvm In tho nottrs le the flnancial $*al@￿nIS. Depre¢l•tion Siqnfficanl fixed assets are rApit81188d and deprecityied over th8ir 8$￿[nal￿d usèful I￿88. Th8 detmiatkjn rales applbd are a8 fol￿.. Freehold prap*ty Flxtures, fStOThJs and 0quIpm￿l 2% ytraighl Ilne 5%. 33.33% straioht Ilno Glftod as8èts Gffts of 5tynmrxntflx9d a88ets aw capltalbed gnd Included In the apprDprk4te fixed 8Sset catewy- The value of such as5Bt818 IrKluded In In(xJmo in the In lthlch the gfftls rgwlvad. Inv05tm*nts Llst*l Investments ara val￿d atthg mlddle of th8 bld and offer prits but If ontyontr of th88* Is availablè than ￿at Is u8ed. Unmllsed gaSns or losses aÉ Sho￿ In the Stst9m8nl of Flnanclal Aetivili8s ar8 cre(fited or d8bll& to t￿ relevantfund. Income from invtstmenls rewgTr￿d Wh￿ Ihe charity beLom88 enttUe(I toll. Current a￿at Investments &rè hald forlhe 5h¢rt tem and rnay be reoli58d shoukj the need 8rL88. Investmenl propwties ar8 8tated al Ihe rn&*trtV8lue 8tthe balonm 8h8et date. Th& Stot8m8nlof AcUvSlles shows nel irwestrn6nl galns and Ios88s adsiryJ from r8valuatlon of Inv8strEnt wrwdlo and dk8[￿al5 throughoullha year. P•n8lon 8tham86 Soclety part￿pate8 In the Churth ol EnglBnd Fundod Pensk)n Scheme Bnd Ih8 Church ol EngLqrKJ Deflned Bengflls Scham8, part ofth8 chU￿h Workers Penwon Fund. Th8 costsof retirem8nt benefits provldgd te empkny￿ ¢f lh& Sc¢lety ihrwgh the M￿￿-s￿p10Yer dèfined pension are atLX)unled for as rftr*se were éefined ¢OntrI￿tiOn schew as InlomwU￿ 15 not availabl8tO Use deftD8d Ixmfit alwuntlng In accor(lanrawlth lh8 raqulrements of FRS 102. The So¢i&Ws contributions lo thaso sthtm88 are recogn188d as a Iwlllty an exp8nse In tha the salari86 to which the COn￿bu￿on5 ralats are payab￿. In addth￿, 8 18bility is re¢ognis8d at tho balanoo $heet dale fer t￿dISCountad value orthgexp8Cted fuiure ontributYJrn paymwts uThJerth8 aweemwts wlth the88 Mulb•M￿oyar thmes to fund ts payt 58rvice dafidts. Th8 Society abo p8rtlcSpates ID thp Unlverstyof Oxford Staff Pen85on Scheme. ThÉ88 schemes 8r8 hymd ion 5therne$, rKo*idirvJ defingd b8n8fit5 Ifor memlwsl, as well a5 defined contrtbution benefits. The a￿ts of the 5chem&% ar8 each hekl In a sèparate IrusletrHdminist8rad fund Becau88 of the mthal n8tsJre of IhE schemas, fv a¥sèts are not attribu18d to Indwidual Colleges and scheme-wlde contribution rabs 881. The aty Istherefore exp088d lo actua￿81 rl8k8 as501xaled olh8r UrwversiUe8 8fKI co1￿8 effjployaes and i& unable to klenltylt8 8h8re Dflha undorlfvKJ assets aThJ IlabiliUa8 of tt￿SCh8m& on a consst9nt and reasthBb ba515. A8 rffjuired by S8cbon 28 of FRS 102"EmpSoyee ￿n&fits", Ih8 Soc$8ty therefore accountsforthB sth8mes as Ihoy wgrewhdty deflned CDnlr*)utson schemes. As # résu￿. the arnount Gharged to the profitand1088 account rgpreEonts the conlribullons payabkg to 04ch sc￿me. SlncA8 the Soclety h8S entered into agr8am8nly1lhÈ RB¢ovèryPlanslth8t d8t8rrnino 1¥)w e#¢h amployerthln tha scher￿8 vlll fund th8 ovarall defiGit, thè Sod8ty rec(4n18es a Ihqbilty forthe wntributtms payable that 8ri8efrom th8 agre9rn￿ Ito lh6 eXt￿lIhat tr)8y rdate to the defidtl and thor8fore is r8cognlsed. 13 Tho Socw of St Stsphan's Hous Statement of Flnanclal Actlvltles 11t￿l￿dIng In¢om• and Exp•ndlturo xcounti For thè ￿ar ondod 30 Jung 2022 Urmgtrkted Funds R•8trl¢t8d Fun 2022 Totsl 2￿1 Total INCOME AND ENDOWMENTS FROM.. Charftablo act￿￿*% Teach5TVJ, research and rGsklantlal DonaUon8 18oaclo8 575.247 200,319 575.247 231.313 663.450 215,374 39,000 lnvgstsnentlnc￿e Oth•t kn¢t4ntr Concerl (ther e¥enllrKom¢ Other rents 26.269 22,831 138,637 259.822 1200.2&0 138,637 259,822 1.239.2B 29,457 87,459 1.018.570 J#,ooo EXPÈNI)rruRE ON.. Ch8rftabl• *¢tl¥ttl$8 Ta2chiry. resadrch End ra8SdÈnllal Gènorating lundE Fundr8i$ino othar ex￿n￿[tur* Totsl Exwdrture 1.484,1￿2 9,182 1,493,3 1,324247 22,559 91,801 1,598 22.ssg 91,601 1,607.724 43.147 10.858 1.378.252 9.182 IncomOlExpndflur•l b4loro 9ath$ 398253 36WS 359,6811 NetgAlrtslllos5esI on Inv95tsnants 115,8771 11&87n 85.834 Not IncomellExponthiurel Transhrs bTrt￿n fund8 19 Othgr Tg¢ponl¥•d gain811¢1# Galnslllo$8esl ￿ revaluauon of fix￿ 8¥ge18 A¢iuarfal gaIn￿(lO$S8$10n definwj bathfil p8nslffi sch9n￿5 5,370 1101,9281 4370 1101.9281 293,506 Net In lunds lorthe ￿ar 510,06BI 29 480.87Ql 19.658 Fu¥)1 bal8nc88 brouohtfc*ward 13 16,067,247 229 16,361476 16.242,818 Fund* ¢arrf•d foNard at 30 Jun• 14 Thg Soclety of St Stephen'6 House Balance Sheet As at 30 June 2022 2022 2￿1 FIXED AsS￿s Tonglble assets prope￿ InvoStmènt& Oth8r Irwe8trneTrts 17,425,093 994,252 S06,116 18,925,461 17,037,673 994.252 521.992 Total FLxod As¥ets 19,153.917 CURRENT *tsSETS sto¢*s Dfybtors Cash at bank 8nd In hand 2,535 180,864 43$.615 3,782 108,696 528,891 10 Totsl Curr•nt A88•t$ 620.014 641,369 UABILITIES c￿lIOrs.. AmountsfalllNJ dua ￿thIn on8 y88r 1507.68&1 1378,5581 NÈT CURRENT A8SEt8 111325 262.811 TOTAL ASSETS LESS CURRENT L￿8￿￿lEs 19,037.787 19.416,728 CREDffORS: falllThJ duo aftor moro thwn orm y•Nr 12 (2A52,e031 12.852,8031 NET ASSETS BEFORE PENSION UABILrrY 1e,185,184 16,5e4,12S D￿l￿•d bonafftp8n8lon 8¢homfy Ilablllty 18 1303.57n 1201,6491 TOTAL NET ASSETS FUNDS OF THE SOCIETY R•slrfctad lund6 325.047 295.229 Unr88trfctsd funds DèsbJnatsd G8n8ral fijnds R9valuallon r888rve Pen￿On reserve 1.166,147 2,924,990 11.769.OQO 1303,577) 1,152.643 3,143,541 11,972,712 1201.6491 18 15,881.607 16,362,476 Th¢ finonrlal &tat8rn8nt8 Were approvod and aulhcri¥ed for issue bythe Hou88 Ciyjncll of The Scdeiy of St Stephen'8 Hou8e Bish(4) ofChlthe8ter Chalrman 15 The Soclety of St stephen'8 House ststement of Cash Flows For th• yoar Ond￿ 30 June 2022 2022 £'wo 2021 £'ooo Nots$ N•t ¢a$h prOvId￿ by lus•d Inl •pern￿ng aGtMtIo• 19 24,569 164,647 Cash flows from lTrve8tlng actlvltlo8 Divldfjt)ds. Intorttst ond rfynts tr¢m Investrnonts Proceed8 from the sal? ol property, plant and 8quipm&nl Pur¢ha8e of proporty, ￿ant and eoulpmgnt Purcha3e of investment propety Proceeds from salé ol Investmènts Purchase of investments Actuarial movement on defined benefit pen$lon s¢hom 26,26 22,831 141,18¥ 15,97n 101,928 87,012 16,854 Cash Ilovts from financing adivilies R8paym8nts of borrowing Cash inflows from new borrowing Not cash provldod by (used Inl flnanctng ac￿VItIeS 1500,1)001 500,0(K 111,580 147,Y941 Ca¥h and ¢￿h ¢wivaJents ￿ the beginning oftho repordng perlod 52&091 576,685 Chang¢ in ¢•sh 4nd ¢a¥h e4uiv•l•nts to gx¢han90 rate movements Cash artd ¢ash Èwiv•l¢nts at lh¢ *nd of the rwrting pertod 20 434615 528,891 16 Th¢ Sodety ofst Stsph*n'J Hou Not¢s lo th• flnantlal *tst4mèDt9 FOrthE￿arendèd JO Junè 2022 INCCIIEFRCIACHPRifABLeAGYMrR T•aGhlwRMe4rth4nd 281A23 290.938 Ststhnlrenl T0247 R•*•4r0hw*R•*￿4n[kn1 2 Dofl4WMS￿1D LElè4aES Z022 I)0￿￿tIONS and L•A*• UnresMGbdfun Ro8VkkndtundB 200a1J 175,￿4 DlvM•nda and lrt•r•Dt 514 Unreilrkted Fund• Charht4••xp•ndliwr• 34>,t22 &M,gTI 163,5 18,782 408,304 1 J52 9,3D2 8.080 182 36Z.fj26 15JlO• 16.782 40BJ04 1A52 9,J92 9&984 25,769 1,2SS 8ad dtsb 7.2SD 13￿211 *182 22.6 13.14T dJ.117 Expand￿ra0￿ 14979 14,gTg 76,82? Tow4¥pon(knonrnlslnB hjfflds 10.858 1.37&252 2tr21 MSOLYGo5qxpEthJfÈ1.3N252rtyte￿￿tl.s44,087kn w￿￿￿1￿￿￿￿K1>.£44.l$5fvtyrt A 5 P•IPLY8ts0FOOVERNtsNCECOSIS 2021 1￿c￿0d Th• Sodatyol St st•phèn'8 NotèB to the finan¢lal statements Forth•yoar ￿t￿d 30 Juno 2022 • sT￿F¢o￿Ts 514JZJ 41,OS3 4T5.08 32.819 ID7.2aB Z3.B02 Td81 21 7 T•2IWLEFfXED￿$Er$ Fr4thld Fix monl Totsl At51￿ofYo￿ 14798063 749.209 19,547 41,105 ndoly•v DoprKIAttDn 1.W.8Jl 2NW7 ¥2thDrJ 61.6 259,iJJ AtqMdofy•ryr 57l54• dol￿r li,W245 114a4S At*rt¢l￿r 17,4wie7 2Zg,186 17m7.673 M&ierw￿dlknlt0thV￿e1BalSO cosl Is￿1b￿ld1￿. ￿1￿1￿9945￿30J￿2022￿£s.rn8.lls. ¥ PROPERIYk4VEtrfMEKr 2122 2021 Totsl Th• Sodety of 8t 8t•phen'8 Ht)Ug0 Not¢s to th•finaTholal itot•m4nts Forthe yeu ended JO June 2022 ¥ OThER¥IYESTMEIIT8 I￿￿￿￿￿t$￿￿Of￿Qr 021.992 436.1fj8 116,8rn •d4s••t1￿¥￿*1￿tslloftd oly•ar 10 DEBTOR8 22 139M6 41 J96 915 40.781 ID4 11 cREofwoRS..14￿9*￿uk￿lhIn ongyw 20 254M71 14JOI 238,714 189.e17 7.242 11 CRwrroRS..hllngd￿ 2021 1,212.724 1274.r24 1.129.679 Bqnkh IE54 Dfth¢ prwrty*thbgwtorof£1eT,fjw on095ffj% ofth•4dèv•￿. lo￿ls11.222.724. TMACOCF*an ￿ w￿4ten￿￿￿￿e&7,19I,lt￿lalIoro.I%I￿kn0rtWam￿l￿tyI¢hpArtoIthl ￿at IS￿￿1s￿9L0Xtsrd. TrOHarthhb￿￿ rt9ro￿pW4m1￿.w￿101ÉthoiA1nD￿wkn￿r2o2OtO1￿￿trr￿n4nÈ#O12Yj￿nMstr0￿oA1￿￿.7 19 Th• Soclety of 8t 8tephen'& HouBè No¢•¥ to thè fln*￿Ill $¢at•m•nt8 For I￿ yearended 30 Junè 2022 13 PI4ALVSbJOFIIOVETIEMT3ON FUPlla A11 2021 2022 CoThffjuntyofThDS￿￿Olth•¢r￿5 RryFw TfL#OrwFtsr T￿A(m￿lF￿vj ieB,364 1843ts4 32,175 10,IOD *D,I mmtySdWIFur USA-Slg14phoD'y Fknusp'lnRqS￿￿. 5,4 13,( 15,( 41,166 ISMO 41,166 zrN1 dw4td N182) 1,152A43 3,143,84D 11.972.712 Ql.6491 13,5DI 1fd).389 137&,Y3tr1 (203,712) 2,#14.9gD 11.769.tyJO (>)3,sr7) 1101.928) rul￿ 1eA67247 2,651 101.928 16Afj2N76 1591,6331 I&851.￿7 14 FUNDBOFnE¥OCE7YDETALS m•Fur Tr*ArTh￿wFUff CrDssFu 0t$IS*sts￿.l fo￿￿unty0tthW Swsntrofkn0CtoiB D*th&Sllféanl3otlhoCiivtyC8¢ A E2.WOthnalanknq8thofioyow8tr&fund addthn B￿￿nSG￿￿F￿vj s￿n￿•r3Lts￿F￿d ThbSxl•tyrlSiSi•phwth Hou4•{11TIWI1 IIITF45&1I￿fv 1v1J￿20l?. Totr¢ th•4•P¥¢ryol USA-F￿ lot8btyLw Fu￿1 18T65u&* 20 olst St•Phw￿ l*) NotoB 10t￿ finan¢lal sta10m￿lS FotthtrY￿londty1 30 June 2Q22 15 *•]ALY8tsOFNET￿$￿rn WWEEN FUNOS 2022 17.018M2 378￿1 949.914 J37.732 17.425,WJ Ptopptyiwethqn 44J38 168 112225 5DB,116 112W# 12,3S2M31 1303M71 POJ.$771 Ur￿trICtr￿ Fur T*1 TwWffixpda¢¢• 17ffi3F.8D I7￿7￿73 43$2 521192 262011 IU52.1031 894,292 353.eog 304,7 (Soo￿￿) 116&8171 l2wle￿i 12¢1.6491 128.815 14.914.e04 1fj TRiWEU5'IiE￿1IE￿IrIJN Ew•É&tortr&vÉlbmA&Vnpoft47812021 È68l#nd ￿￿￿￿•M￿￿t8￿(202l.. E?,480 Ih&Yo 202Z 2021 4BO24 20J92 44.86$ 17 NIYWIIPI>EMENTREMUNtKAI tr&*m￿g￿￿Onl￿sÈ1l2J￿ll2o2l.£ld7jl8i ￿th￿F￿r*Blvk8P￿￿lQndts BLTrBi. Tho Socl•tyofSt stwhAn* Hou$• NotoB totho financi41 stst*mentB For yèar èndfrd 30 Juno 2022 16 PEN510N SCHEME5 ￿tr￿church￿￿E￿￿lld ThÈ¥be￿ b¢a 1Q2. R•&poMN& PthY￿4nd L￿d￿￿l￿￿$DFA In￿oI￿b￿bE1￿Wa InthÈ s0FA.ghkngdt￿0Ithar￿￿tÈ4&181Iy2o2Z12o2l. els,￿0 AV¥mthdt￿$erw1g￿n￿ WtorK¢ worythwèyw 31 D•Fèmb*2D18.Tr* zo18 revethdadfjfKlrluO￿tsll8dOna￿•LIOI￿l,el8Ma￿d alundwi￿1OrEl.&eaTh￿ JI i)w*w2010 j￿￿￿2￿21 to nllDocwrthr2025. 4t31 31 2021 202D 13.¢OD lO.￿D Dthlcorthuknnpfi 4,ooD -8,￿0 hSOFAI 11,ffl0 L¥sThoEtkMiyatJl DO￿￿r 6.QDO D￿*M￿r2D21 O•c•Mbtt3)19 D￿CoU￿rAte 0￿r 1.l%pq 2A% 3.1% 1.5% fllrp*4w A Eh￿ The 8D¢loty of8tstry1￿'B Houll• Not09 tothè ffnamclal statomont* Forthe year 3CI Jun• 2022 18 PENS￿1 SCHEtWlClWTTr4LEDI B￿￿Er2￿14. fDBS?1ouMDnoftsChuthWL¥k4Th Thpdvknofts FupD5e￿l¥xkVry4 Y&d8athbllnBfftSar0p￿ Sec1kn2&ofF*IS 102. tt14 hDBS. D￿￿thr2Dle. Ri•kS¢¢bJliY41 S4olon28 11AofFFt8 102rylroK•Trd&Wr•r0v4ryp￿•raskn 2021 Jar I￿0 136,0 2,OOD -ID,Q DgGethr DownLw2D21 DoGombpi D•tw￿r201$ QA0% The SoBlotyof st 8tephen's Hou80 Not•È toth• flnanclal slat•m•nls foTth• year•nded 30 Jun• 2022 I• PENSIC*4SCHERIE8i¢cKfriuEDI Unb￿[￿1￿Pth&l0n Pl￿￿n IO$PSI FRS 102 po￿￿￿26.11, A6¥ of•Thyof InOSP8, *ikwrtofanywionlUnthr•thorfthllw￿￿h￿￿ltsO0*￿A15&r0cQv￿rqdlh￿IP￿tOltr￿l DthY&*Jalan r0%￿pu￿￿h￿.. Iwo8r2020 VIU￿￿a￿tS.' E753 ￿11am) . Drwlrfé." 1*4DA¥2.2S%• . RPvcPi￿b BUm￿j . Ma*fAYr4ntya9gd6S. 21.7w& . 85.. 24A Jry . MAk¥uYrÈntygyd45 . 4S.. 25.8w¥ . $￿p￿0￿p1o￿thFUnd 74% 91￿￿2 g )hdlÉ¢ffirthtrthgOSPSvAlJgMnwas' Eq￿t0th9 UK rL¢ThIrdgll￿￿￿tth5¥o1llth￿&t•p￿￿0.s￿p￿. FIPI ￿￿e￿￿e0frOM￿￿£Qo￿etrkdy￿[Y￿￿ uKr￿Mm91￿c￿e*￿d￿*tsKh￿￿4rth Cw¥e4lts¥a&M￿o￿thiE, *5jQ.3%p￿bt pSl¢tsbobyw. OSPS rwctonOSP3tqGhnk*prnvthto irwos¢ètyO.26% 24 Th• Soclety ofst st•phon's P4ote8 to th• fln&nclal stat•mènts Flytho yoarend•d 30 JunE Z022 1ll PENSM$G￿￿J(¢ONThueDj D•fitittkcoY•ryPbn* ¥M￿l￿FR8 102p8wwh28.11A.tr* $(wly￿ o$ps 1tt8 A￿l￿ge￿￿￿ 0.74% £1.gIB EffIi*ofOS%th￿￿￿ lTrdlyAwnt 1% A￿￿￿￿of£p￿.62owbmll wdpa131 Juty202212021 p•n￿nGhaI￿•{ttrth• ye 202t OIE 45,500 116.322 I• P£CONCLWT￿moF MEfiicov*iGRE8WRCE8TO NET¢•AH FLOVIFRO4lfmRAnC*I8 2022 15MJI3) (27&N81 (22B311 SW41 1SM71 Dowethl 289.135 DgwosB1(Ir￿￿lO) IndEbk*• (￿((?&￿eY￿￿1rtr1￿lth 172.10Y 12•.1 2D.198 43,103 19,3Bg 2• fvJINLYSP5 OF¢*3H*JIDCA8M EQUN*LPMS 2t 4x.81S 51Ug1 21 RELATED POmYTRPJ15ACIYtrTr48 tz CopmNtsENTU￿￿rnE¥ The Soth ofst Ste￿￿.& House W¢)t•A to th• Iln4ntlal A￿t•M•nt$ FoTth•yoar•nded 30 June 2022 25 2•* $T*T￿my1*Pl4ANG&￿LA¢T￿f￿S comP￿TrE 2•21 F￿￿$ FundB r4COIAEAND El￿￿￿￿￿4T8FRc1l.. 6￿450 175,674 fj14 2,01 29.457 87.45V sss 29A57 Tdt4 Ibc4Hll D14 ¢￿￿tIbl￿•s￿￿•1 44.1fjfj 1,3UUY 41147 10.853 1.334OD7 4114Y Tat* Expthid￿r• 44155 1,J78A52 S9.￿1) 11£929) 11929 N•tmuY•rn•Thtlnlund¥lorth•y•w 19.656 2WA41 IQJ4Z.11B