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|Contents|||Page|
|---|---|---|---|
|Reference and administrative||details||
|Trustees' report||||
|Independent<br>auditor's|Report|||
|Statement<br>offinancial|activities|||
|Balance sheet|||16|
|Cash flow statement|||17|
|Notes to the financial|statements|||





|Mr John Browne|Mr John Browne|Mr John Browne||||||Appointed|31July 2019|
|---|---|---|---|---|---|---|---|---|---|
|Mrs Catherine||Carnegie||||||Appointed|11June 2020|
|Mr Winton|de|StJohn-Pryce||||||Appointed|3 March 2020|
|Mr Frederick Holt||||||||Appointed|11June 2020|
|IVlr Michael|Joseph||||(Chairman)|||Appointed|31July 2019|
|Mrs Desiree|Jebsen|||||||Appointed|30April 2021|
|Mrs Christine||Keunen||||||Appointed|31July 2019|
|Fr Keith McMillan|||SJ|||||Appointed|31July 2019|
|Mr lan Murphy||||||||Appointed|20 March 2020|
|Mr Eugene|Nealon|||||||Appointed|31July 2019|
|Mr Richard|Saunders|||||||Appointed|31July 2019|
|Mr Stephen|Withnell||||{Vice-Chairman)|||Appointed|31July 2019|
|Foundationmananer.||||.|Mrs Cathie|Bl&tcher||||
|Bank:|||||HSBC|||||
||||||1Centenary|Square||||
||||||Birmingham|||||
||||||B11HQ|||||
|Auditor|||||Saffery Champness||LLP|||
||||||Mitre House|||||
||||||North Park Road|||||
||||||Harrogate|||||
||||||HG1 5RX|||||
|Solicitor:|||||Farrer &Co|LLP||||
||||||66 Lincoln's|Inn Fields||||
||||||London|||||
||||||WC2A 3LH|||||
|Investment|Manager:||||CCLA|||||
||||||Senator House|||||
||||||25 Queen Victoria Street|||||
||||||London|||||
||||||EC4V 4ET|||||





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|Fr Keith McMillan|SJ|Nominee ofthe Provincial|ofthe British Province ofthe Society|ofthe British Province ofthe Society|ofthe British Province ofthe Society|
|---|---|---|---|---|---|
|||ofJesus||||
|Mrs Christine<br>Keunen||Nominee ofChair ofGovernors of||Stonyhurst|College|
|Mr John Browne||Headmaster,<br>Stonyhurst||||
|Mr lan Murphy||Headmaster,<br>Stonyhurst|St Mary's|Hall||
|Mr Stephen<br>Withnell||Stonyhurst<br>Deputy Head,|External|Affairs —Vice Chairman||
|Elected Trustees:||||||
|Mr Michael Joseph||Elected Trustee - Chairman||||
|Mr Eugene Nealon||Elected Trustee||||
|Mr Richard Saunders||Elected Trustee||||
|Mr Winton de StJohn-Pryce||Elected Trustee||||
|Mrs Catherine<br>Carnegie||Elected Trustee||||
|Mr Frederic Holt||Elected Trustee||||
|Mrs Desiree Jebsen||Elected Trustee||||





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|Mr|Michael Joseph|Mr Stephen Withnell|Mr Stephen Withnell|
|---|---|---|---|
||an ofthe Trustees|Vice-Chairman|ofthe Trustees|
|||10||





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||||Unrestricted|Endowed|Total funds|Total funds|
|---|---|---|---|---|---|---|
|||Note|funds|funds|2021|2020|
|Income from:|||||||
|Charitable<br>activities|||2,316,712|340,000|2,656,712|3,931,737|
|Merchandise<br>sales|||6,458||6,458||
|Investment<br>income|and||11,550||11,550|423|
|dividends|||||||
|Tota I Income|||2,334,720|340,000|2,674,720|3,932,160|
|Expenditure<br>on:|||||||
|Raising funds|||40,950||40,950|86,664|
|Charitable<br>activities|||487,762|42,487|530,249|338,716|
|Tota I Expenditure|||528,712|42,487|571,199|425,380|
|Net realised and|||577,048|311,956|889,004|384,345|
|unrealised<br>gains on|||||||
|investments|||||||
|Net income|||8**3**056|609,469|2,992,525|~,o91,125|
|Transfers between|funds||||||
|Net movement<br>in funds|||2,383,056|609,469|2,992,525|3,891,125|
|Reconciliation<br>offunds:|||||||
|Total funds brought|||2,350,154|1,540,971|3,891,125||
|forward|||||||
|Total funds carried|||4,733,210|2,150,440|6,883,650|3,891,125|
|forward|||||||





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||||Note|2021|2020|
|---|---|---|---|---|---|
|Fixed assets||||||
|Investments||||6,756,272|3,755,045|
|Total fixed assets||||6,756,272|3,755,045|
|Current assets||||||
|Cash at bank||||138,418|147,060|
|Tota Icurrent|assets|||138,418|147,060|
|Liabilities||||||
|Creditors: amounts||falling due within 1year|10|11,040|10,980|
|Net current|assets|||127,378|136,080|
|Total assets|less current liabilities|||6,883,650|3,891,125|
|Unrestricted|funds|||4,733,210|2,350,154|
|Endowed<br>funds||||2,150,440|1,540,971|
|Tota Ifunds||||6,883,650|3,891,125|





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|||Note|2021|2020|
|---|---|---|---|---|
|Cash provided<br>by operating<br>activities||15|2,092,031|1,146,695|
|Cash flows from investing<br>activities|||||
|Investment<br>interest and dividends|||11,550|423|
|Purchase ofinvestments|||(2,343,533)|(1,090,438)|
|Proceeds from the sale of investments|||809,863|265,538|
|Cash used in investing<br>activities|||(1,522,120)|(824,477)|
|Increase in cash in the period|||569,911|322,218|
|Cash and cash equivalents<br>at the beginning|ofthe period||322,218||
|Total cash and cash equivalents<br>at the end|ofthe period|16|892,129|322,218|





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|ncome from c|haritable|a|ctivities|||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Endowed|2021|
||||||Funds|Funds|Total|
||||||f|f||
|Investments<br>transferred|||from Stonyhurst|||||
|Other incoming|resources transferred|||from Stonyhurst||||
|funds transferred|||for bursaries|||||
|gift of|services||||46,301||46,301|
|gift of|cash|||||||
|Donations|||||2,270,411|340,000|2,610,411|
||||||2,316,712|340,000|2,656,712|
|ncome from charitable||activities —prior year||||||
||||||Unrestricted|Endowed|2020|
||||||Funds|Funds|Total|
||||||2,009,182|361,460|2,370,642|
|Other incoming|resources||transferred|from Stonyhurst||||
|funds transferred|||for bursaries||212,221||212,221|
|gift ofservices|||||181,114||181,114|
|gift ofcash|||||72,585||72,585|
|Donations|||||95,175|1,000,000|1,095,175|
||||||2,570,277|1,361,460|3,931,737|



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||Unrestricted|Endowed|2021|2020|
|---|---|---|---|---|
||Funds|Funds|Total|Total|
||||f|f|
|Interest|65||65|59|
|Dividends|11,485||11,485|364|
||11,550||11,550|423|



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|||Direct|Support|Governance|2021|
|---|---|---|---|---|---|
|||costs|costs|costs|Total|
|Cost of raising funds||||||
|Consultancy||30,000|||30,000|
|Website, marketing|and other|10,950|||10,950|
|related costs||||||
|Total cost of raisine funds||40i950|||4Ai95A|
|Cost ofchiariiabie<br>activities||||||
|Bursaries to Stonyhurst||458,388|||458,388|
|Other costs|||52,307|19,554|71,861|
|Total cost ofcharitable|activities|458,388|52,307|19,554|530,249|
|Total Resources expended||499,338|52,307|19,554|571,199|





|||Direct|Support|Governance|2020|
|---|---|---|---|---|---|
|||costs|costs|costs|Total|
|Cost ofraising funds||||||
|Consultancy||67,068|||67,068|
|Website, marketing|and other|19,596|||19,596|
|related costs||||||
|Total cost of raising funds||86,664|||86,664|
|Cost ofcharitable<br>activities||||||
|Bursaries to Stonyhurst||203,138|||203,138|
|Other costs|||64,210|71,368|135,578|
|Total cost ofcharitable|activities|203,138|64,210|71,368|338,716|
|Total Resources expended||289,802|64,210|71,368|425,380|





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|||Support|Governance|2021|
|---|---|---|---|---|
|||costs|costs|Total|
||||F.|f|
|Audit and accountancy|||13,344|13,344|
|Consultancy|||||
|Insurance||2,018||2,018|
|Professional|fees||6,115|6,115|
|5ubscriptions||1,707||1,707|
|Staff costs||46,301||46,301|
|Staff expenses||50||50|
|Sundry||2,045||2,045|
|Bank charges|||95|95|
|Travel costs||186||186|
|||52,307|19,554|71,861|
|Analysis ofsupport costs and governance||costs —prior year|||
|||Support|Governance|2020|
|||costs|costs|Total|
|Audit and accountancy|||10,980|10,980|
|Consultancy|||6,048|6,048|
|Insurance||2,018||2,018|
|Professional|fees||54,340|54,340|
|Staff costs||48,370||48,370|
|Staff expenses||1,445||1,445|
|Sundry||7,632||7,632|
|Travel costs||4,745||4,745|
|||64,210|71,368|135,578|





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|||2021|2020|
|---|---|---|---|
|||Total|Total|
|This is stated after charging:||||
|Auditors|remuneration|||
|Audit|fees (relating to 2021)|8,400|7,200|
|Audit|fees (relating to 2020)|1,800||
|Accountancy<br>services||2,640|2,640|
|Taxation compliance|||1,140|
|Other||504||
|||13,344|10,980|





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||||2021|2020|
|---|---|---|---|---|
||||Total|Total|
|Listed investments|||||
|Opening|balance||3,579,887||
|Donated|investments|||2,370,642|
|Additions|||2,343,533|1,090,438|
|Disposals|||(809,863)|(265,538)|
|Net gain|on investments||889,004|384,345|
|Market Value at 31August||2021|6,002,561|3,579,887|
|Cash held for reinvestment|||753,711|175,158|
|Total|||6,756,272|3,755,045|
|Historical cost of investments||at31August 2021|4,842,235|3,204,675|
|lnvestmenis<br>at fair vaiue|||2021|2020|
||||Total|Totall|
|Equities|||6,002,561|3,579,887|
|Cash|||753,711|17% 1%8<br>I|
|Total|||6,756,272|3,755,045|





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||2021|2020|
|---|---|---|
||Total|Total|
|Accruals|11,040|10,980|
||11,040|10,980|



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|Analysis of|movem|ents<br>in unrestr|icted<br>funds|||||
|---|---|---|---|---|---|---|---|
|||Funds at 1|Incoming|Resources|Transfers|Gains on|Funds at|
|||September|resources|expended||investments|31August|
|||2020|||||2021|
|||f|f|f|f|f|f|
|General fund||83,150|2,334,720|(528,712)|(1,651,946)|577,048|1,100,880|
|Designated|fund|2,267,004|||1,651,946||3,632,330|
|||2,350,154|2,334,720|(528,712)||577,048|4,733,210|



||Funds at 1|Incoming|Resources|Transfers|Gains on|Funds at|
|---|---|---|---|---|---|---|
||September|resources|expended||investments|31August|
||2020|||||2021|
|Expendable|||||||
|Endowments|||||||
|Conrad fund|1,141,710||(26,887)||204,388|1,319,211|
|Ryder Systems|203,032||(8,000)||35,280|230,312|
|425 Bursary Fund|196,229||(7,6oo)||33,089|221,718|
|Joseph Family||90,000|||16,014|106,014|
|The Jebsen Fund||250,000|||23,185|273,185|
||1,540,971|340,000|(42,487)||311,956|2,150,440|
|Total funds|3,891,125|2,674,720|(571,199)||889,004|6,883,650|





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||Funds at 1|Funds at 1|Incoming|Resources|Transfers|Gains on|Funds at|
|---|---|---|---|---|---|---|---|
|||July 2019|resources|expended||investment|31August|
||||||||2020|
|General fund|||2,570,700|(425,380)|(2,267,004)|204,834|83,150|
|Designated|fund||||2,267,004||2,267,004|
||||2,570,700|(425,380)||204,834|2,350,154|
|Analysis ofmovements||in Endowed|funds|||||
||Funds at 1||incoming|Resources|Transfers|Gains on|Funds at|
|||July 2019|resources|expended||investments|31August|
||||||||2020|
|Expendable||||||||
|Endowments||||||||
|Conrad fund|||1,000,000|||141,710|1,141,710|
|Ryder Systems|||183,813|||19,219|203,032|
|425 Bursary|Fund||177,647|||18,582|196,229|
||||1,361,460|||179,511|1,540,971|
|Total funds|||3,932,160|(425,380)||384,345|3,891,125|





|2021||Unrestricted|Endowed funds|Total|
|---|---|---|---|---|
|||funds||2021|
|||E|E|f|
|Fixed asset investments||4,605,832|2,150,440|6,756,272|
|Cash at|bank|138,418||138,418|
|Current|liabilities|(11,040)||(11,040)|
|||4,733,210|2,150,440|6,883,650|
|2020||Unrestricted|Endowed funds|Total|
|||funds||2020|
|||f|f||
|Fixed asset investments||2,214,074|1,540,971|3,755,045|
|Cash at|bank|147,060||147,060|
|Current|liabilities|(10,980)||(10,980)|
|||2,350,154|1,540,971|3,891,125|



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||||2021|2020|
|---|---|---|---|---|
|Net movement<br>in funds|||2,992,525|3,891,125|
|Deduct donations<br>of|investments|||(2,370,642)|
|included<br>in income|||||
|Deduct interest and|dividend|income|(11,550)|(423)|
|shown<br>in investing<br>activities|||||
|Deduct gains on investments|||(889,004)|(384,345)|
|Increase<br>in creditors|||60|10,980|
|Net cash generated|by operating||2,092,031|1,146,695|
|activities|||||



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|||2021|2020|
|---|---|---|---|
|Cash|held for reinvestment|753,711|175,158|
|Cash|at bank|138,418|147,060|
|Total|cash|892,129|322,218|





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|||Unrestricted|Endowed|Total funds|
|---|---|---|---|---|
|||funds|funds|2020|
|Income from:|||||
|Donations<br>and legacies||2,570,277|1,361,460|3,931,737|
|Investment<br>income|and|423||423|
|dividends|||||
|Total Income||2,570,700|1,361,460|3,932,160|
|Expenditure<br>on:|||||
|Raising funds||86,664||86,664|
|Charitable<br>activities||338,716||338,716|
|Tota I Expenditure||425,380||425,380|
|Net gains on investment||204,834|179,511|384,345|
|assets|||||
|Net Income||2,350,154|1,540,971|3,891,125|
|Transfers between|funds||||
|Net movement<br>in funds||2,350,154|1,540,971|3,891,125|
|Reconciliation<br>offunds:|||||
|Tata<br>I funds brought|||||
|forward|||||
|Total funds carried||2,350,154|1,540,971|3,891,125|
|forward|||||