2022-08-31-accounts - The Stonyhurst Foundation

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`Referenceandadministrativedetails`
`Trustees’report`
`Independentauditor'sReport`	`11-14`
`Statementoffinancialactivities`
`Balancesheet`
`Cashflowstatement`
`Notestothefinancialstatements`	`18-31`

`MrJohnBrowne`		`Appointed31July2019`
`MrsCatherineCarnegie`		`Appointed11June2020`
`MrWintondeStJohn-Pryce`		`Appointed3 March2020`
`MrFrederickHolt`	`(Vice-Chairman)`	`Appointed11June2020`
`MrMichaelJoseph`	`(Chairman)`	`Appointed31July2019`
`MrsChristineKeunen`		`Appointed31July2019`
`FrKeithMcMillanSJ`		`Appointed31July2019`
`MrfanMurphy`		`Appointed20March2020`
`MrEugeneNealon`		`Appointed31July2019`
`MrRichardSaunders`		`Appointed31July2019`
`MrStephenWithnell`		`Appointed31July2019(resigned31August2022)`
`MsDesireeJebsen`		`Appointed30April2021`
`FrChristopherCann`		`Appointed7 September2022`
`Foundationdirector:`	`MrJohnCartwright-Terry`	`(Appointed1 September2022)`
`Foundationmanager:`	`MrsCathieButcher`
`Bank:`	`HSBC`
	`1CentenarySquare`
	`Birmingham`
	`Bi1HQ`
`Auditor` `:`	`SafferyChampnessLLP`
	`MitreHouse`
	`NorthParkRoad`
	`Harrogate`
	`HG15RX`
`Solicitor:`	`Farrer& CoLLP`
	`66Lincoln’sInnFields`
	`London`
	`WC2A3LH`
`InvestmentManager:`	`CCLA`
	`OneAngelLane`
	`London`
	`ECAR3AB`

`FrKeithMcMillanSJ`	`NomineeoftheProvincialoftheBritishProvinceoftheSociety`
	`ofJesus`
`MrsChristineKeunen`	`NomineeofChairofGovernorsofStonyhurstCollege`
`MrJohnBrowne`	`Headmaster,Stonyhurst`
`MrlanMurphy`	`Headmaster,StonyhurstStMary’sHall`
`MrStephenWithnell`	`StonyhurstDeputyHead(resigned31August2022)`

`Mrs`	`CatherineCarnegie`	`ElectedTrustee`
`Mr`	`WintondeStJohn-Pryce`	`ElectedTrustee`
`Mr`	`FredericHolt`	`ElectedTrustee`
`Mrs`	`DesireeJebsen`	`ElectedTrustee`
`Mr`	`MichaelJoseph`	`ElectedTrustee- Chairman`
`Mr`	`EugeneNealon`	`ElectedTrustee`
`Mr`	`RichardSaunders`	`ElectedTrustee`

			`Unrestricted`	`Endowed`	`Total`	`funds`	`Totalfunds`
			`funds`	`funds`		`2022`	`2021`
		`Note`
			`£`	`£`		`£`	`£`
`Incomefrom:`
`Charitableactivities`		`3`	`2,101,193`	`350,000`	`2,451,193`		`2,656,712`
`Merchandisesales`			`6,822`	`-`		`6,822`	`6,458`
`Investmentincomeand`		`4`	`21,711`	`-`		`21,711`	`11,550`
`dividends`
`TotalIncome`			`2,129,726`	`350,000`	`2,479,726`		`2,674,720`
`Expenditureon:`
`Raisingfunds`		`5`	`10,280`	`-`		`10,280`	`40,950`
`Charitableactivities`		`5`	`715,882`	`83,650`		`799,532`	`530,249`
`TotalExpenditure`			`726,162`	`83,650`		`809,812`	`571,199`
`Net(losses)/gainson`		`9`	`(132,040)`	`(60,303)`		`(192,343)`	`889,004`
`investmentassets`
`Netincome`			`1,271,524`	`206,047`	`1,477,571`		`2,992,525`
`Transfersbetweenfunds`			`-`	`-`		`-`	`-`
`Netmovementinfunds`			`1,271,524`	`206,047`	`1,477,571`		`2,992,525`
`Reconciliationoffunds:`
`Totalfundsbrought`			`4,733,210`	`2,150,440`	`6,883,650`		`3,891,125`
`forward`
`Totalfundscarried`		`11`	`6,004,734`	`2,356,487`	`8,361,221`		`6,883,650`
`forward`	`%`

	`Note`	`2022`	`2021`
		`£`	`£`
`Fixedassets`
`Investments`	`9`	`8,324,861`	`6,756,272`
`Totalfixedassets`		`8,324,861`	`6,756,272`
`Currentassets`
`Cashatbank`		`49,179`	`138,418`
`Totalcurrentassets`		`49,179`	`138,418`
`Liabilities`
`Creditors:amountsfallingduewithin1 year`	`10`	`12,819`	`11,040`
`Netcurrentassets`		`36,360`	`127,378`
`Totalassetslesscurrentliabilities`		`8,361,221`	`6,883,650`
`The fundsofthecharity:`
`Unrestrictedfunds`	`11`	`6,004,734`	`4,733,210`
`Endowedfunds`	`11`	`2,356,487`	`2,150,440`
`Totalfunds`		`8,361,221`	`6,883,650`

	`Note`	`2022`	`2021`
		`£`	`£`
`Cashprovidedbyoperatingactivities`	`14`	`1,649,982`	`2,092,031`
`Cashflowsfrominvestingactivities`
`Investmentinterestanddividends`		`21,711`	`11,550`
`Purchaseofinvestments`		`(2,386,255)`	`(2,343,533)`
`Proceedsfromthesaleofinvestments`		`183,484`	`809,863`
`Cash usedininvestingactivities`		`(2,181,060)`	`(1,522,120)`
`(Decrease)/Increaseincashintheyear`		`(531,078)`	`569,911`
`Cashandcashequivalentsatthebeginningoftheyear`		`392,129`	`322,218`
`Totalcashandcashequivalentsattheendoftheperiod`		`361,051`	`892,129`

`3`	`Incomefromcharitableactivities`
		`Unrestricte`	`Endowed`		`2022`	`Total`
		`dFunds`	`Funds`
						`£`
		`£`		`£`
	`Otherincomingresourcestransferredfrom`
	`Stonyhurst`
	`-` `Donatedsales`	`1,080`		`-`		`1,080`
	`Donations`	`2,100,113`	`350,000`		`2,450,113`
		`2,101,193`	`350,000`		`2,451,193`
	`Incomefromcharitableactivities- prioryear`
		`Unrestricted`	`Endowed`		`2021`	`Total`
		`Funds`	`Funds`
						`£`
		`£`		`£`
	`Otherincomingresourcestransferredfrom`
	`Stonyhurst`
	`-` `giftofservices`	`46,301`		`-`	`46,301`
	`Donations`	`2,270,411`	`340,000`		`2,610,411`
		`2,316,712`	`340,000`		`2,656,712`
	`Duringtheyearended31August2021£46,301wasrecognisedin`		`incomefor`	`donatedsalarycostsfora`
	`secondedemployeepaidforbyStonyhurst.Inthe`	`yearended31August2022,`		`this`	`seconded`	`employee’s`
	`costswerepaidforbytheFoundation.`
`4`	`Investmentincome`
		`Unrestricted`	`Endowed`		`2022`	`2021`
		`Funds`	`Funds`		`Total`	`Total`
		`£`		`£`	`£`	`£`
	`Interest`	`940`		`-`	`940`	`65`
	`Dividends`	`20,771`		`-`	`20,771`	`11,485`
		`21,711`		`-`	`21,711`	`11,550`

	`Direct`		`Support`	`Governance`	`2022`
	`costs`		`costs`	`costs`	`Total`
	`£`		`£`	`£`	`£`
`Costofraisingfunds`
`Consultancy`	`1,324`		`-`	`-`	`1,324`
`Website,marketingandotherrelated`	`8,956`		`-`	`-`	`8,956`
`costs`
`Totalcostofraisingfunds`	`10,280`		`-`	`-`	`10,280`
`Costofcharitableactivities`
`BursariestoStonyhurst`	`701,143`		`-`	`-`	`701,143`
`Othercosts`		`-`	`84,423`	`13,966`	`98,389`
`Totalcostofcharitableactivities`	`701,143`		`84,423`	`13,966`	`799,532`
`TotalResourcesexpended`	`711,423`		`84,423`	`13,966`	`809,312`

	`Direct`	`Support`	`Governance`		`2021`
	`costs`	`costs`	`costs`		`Total`
	`£`	`£`		`£`	`£`
`Costofraisingfunds`
`Consultancy`	`30,000`	`-`		`-`	`30,000`
`Website,marketingandotherrelated`	`10,950`	`-`		`-`	`10,950`
`costs`
`Totalcostofraisingfunds`	`40,950`	`-`		`-`	`40,950`
`Costofcharitableactivities`
`BursariestoStonyhurst`	`458,388`	`-`		`-`	`458,388`
`Othercosts`	`-`	`52,307`	`19,554`		`71,861`
`Totalcostofcharitableactivities`	`458,388`	`52,307`	`19,554`		`530,249`
`TotalResourcesexpended`	`499,338`	`52,307`	`19,554`		`571,199`
`Supportcostsareallocatedbasedontheactivity`	`towhichtheinvoicesrelate`		`orbasedon`	`the`	`percentage`
`oftime spentoneachactivityintheyearinthecaseofstaffcosts.Expenditure`			`includesbursariesgranted`
`toStonyhurstof£701,143(2021:£458,388).`

	`Support`	`Governance`		`2022`
	`costs`	`costs`		`Total`
	`£`	`£`		`£`
`Auditandaccountancy`	`-`	`11,520`		`11,520`
`Insurance`	`-`	`1,893`		`1,893`
`Professionalfees`	`-`	`553`		`553`
`Subscriptions`	`1,924`		`-`	`1,924`
`Staffcosts`	`50,102`		`-`	`50,102`
`Staffrecruitment`	`30,973`		`-`	`30,973`
`Sundry`	`463`		`-`	`463`
`Bankcharges`	`189`		`-`	`189`
`Travelcosts`	`772`		`-`	`772`
	`84,423`	`13,966`		`98,389`

	`Support`	`Governance`		`2021`
	`costs`	`costs`		`Total`
	`£`	`£`		`£`
`Auditandaccountancy`	`-`	`13,344`		`13,344`
`Insurance`	`2,018`		`-`	`2,018`
`Professionalfees`	`-`	`6,115`		`6,115`
`Subscriptions`	`1,707`		`-`	`1,707`
`Staffcosts`	`46,301`		`-`	`46,301`
`Staffexpenses`	`50`		`-`	`50`
`Sundry`	`2,045`		`-`	`2,045`
`Bankcharges`	`-`	`95`		`95`
`Travelcosts`	`186`		`-`	`186`
	`52,307`	`19,554`		`71,861`

	`2022`	`2021`
	`Total`	`Total`
	`£`	`£`
`Thisisstatedaftercharging:`
`Auditors’remuneration`
`Auditfees-currentandprioryear`	`8,400`	`10,200`
`Accountancyservices`	`3,120`	`2,640`
`Xerosetupandgiftaidassistance`	`-`	`504`
	`11,520`	`13,344`

	`2022`	`2021`
	`Total`	`Total`
	`£`	`£`
`Listedinvestments`
`Openingbalance`	`6,002,561`	`3,579,887`
`Additions`	`2,386,255`	`2,343,533`
`Disposals`	`(183,484)`	`(809,863)`
`Net(losses)/gainsoninvestments`	`(192,343)`	`889,004`
`MarketValueat31August2022`	`8,012,989`	`6,002,561`
`Cashheldforreinvestment`	`311,872`	`753,711`
`Total`	`8,324,861`	`6,756,272`
`Historicalcostofinvestmentsat31August2022`	`7,075,700`	`4,842,235`
`Investmentsatfairvalue`	`2022`	`2021`
	`Total`	`Tota!`
	`£`	`£`
`Equities`	`8,012,989`	`6,002,561`
`Cash`	`311,872`	`753,711`
`Total`	`8,324,861`	`6,756,272`

	`2022`	`2021`
	`Total`	`Total`
	`£`	`£`
`Accruals`	`12,819`	`11,040`
	`12,819`	`11,040`

	`Fundsat1`	`Incoming`	`Resources`	`Transfers`	`Losseson`	`Fundsat`
	`September`	`resources`	`expended`		`investments`	`31August`
	`2021`					`2022`
	`£`	`£`	`£`	`£`	`£`	`£`
`Generalfund`	`1,100,880`	`2,129,726`	`(726,162)`	`(305,352)`	`(132,040)`	`2,067,052`
`Designatedfund`	`3,632,330`	`-`		`305,352`	`-`	`3,937,682`
	`4,733,210`	`2,129,726`	`(726,162)`	`-`	`(132,040)`	`6,004,734`

	`Fundsat1`	`Incoming`	`Resources’`	`Transfers`	`Losseson`	`Fundsat`
	`September`	`resources`	`expended`		`investments`	`31August`
	`2021`					`2022`
	`£`	`£`	`£`	`£`	`£`	`£`
`Expendable`
`Endowments`
`Conradfund`	`1,319,211`	`-`	`(27,450)`	`-`	`(32,068)`	`1,259,693`
`RyderSystems`	`230,312`	`-`	`(8,000)`	`-`	`(5,546)`	`216,766`
`425BursaryFund`	`221,718`	`-`	`(7,600)`	`-`	`(5,134)`	`208,984`
`TheJoseph`	`106,014`	`100,000`	`(4,000)`	`-`	`(7,559)`	`194,455`
`FamilyBoarding`
`Bursary`
`TheJebsenFund`	`273,185`	`250,000`	`(36,600)`	`-`	`(9,996)`	`476,589`
	`2,150,440`	`350,000`	`(83,650)`	`-`	`(60,303)`	`2,356,487`
`Totalfunds`	`6,883,650`	`2,479,726`	`(809,812)`	`-`	`(192,343)`	`8,361,221`

	`Fundsat1`	`Fundsat1`		`Incoming`	`Resources` `Transfers`	`Resources` `Transfers`	`Gainson`	`‘Fundsat`
	`September`			`resources`	`expended`		`investments`	`31August`
		`2020`						`2021`
		`£`		`£`	`£`	`£`	`£`	`£`
`Generalfund`		`83,150`	`2,334,720`		`(528,712)` `(1,365,326)`		`577,048`	`1,100,880`
`Designatedfund`	`2,267,004`			`-`	`1,365,326`		`-`	`3,632,330`
	`2,350,154`		`2,334,720`		`(528,712)`	`-`	`577,048`	`4,733,210`
`Analysisofmovements`		`inEndowedfunds`
		`Fundsati`		`Incoming`	`Resources`	`Transfers`	`Gainson`	`Fundsat31`
	`September`			`resources`	`expended`		`investments`	`August`
		`2020`						`2021`
		`£`		`£`	`£`	`£`	`£`	`£`
`Expendable`
`Endowments`
`Conradfund`		`1,141,710`		`-`	`(26,887)`	`-`	`204,388`	`1,319,211`
`RyderSystems`		`203,032`		`-`	`(8,000)`	`-`	`35,280`	`230,312`
`425BursaryFund`		`196,229`		`-`	`(7,600)`	`-`	`33,089`	`221,718`
`TheJosephFamily`			`-`	`90,000`	`-`	`-`	`16,014`	`106,014`
`BoardingBursary`
`TheJebsenFund`			`-`	`250,000`	`-`	`-`	`23,185`	`273,185`
		`1,540,971`		`340,000`	`(42,487)`	`-`	`311,956`	`2,150,440`
`Totalfunds`		`3,891,125`		`2,674,720`	`(571,199)`	`-`	`889,004`	`6,883,650`
`11Analysisofnet`	`assets`	`between`		`funds`
`2022`					`Unrestricted`	`Endowedfunds`		`Total`
					`funds`			`2022`
					`£`		`£`	`£`
`Fixedassetinvestments`					`5,968,374`		`2,356,487`	`8,324,861`
`Cashatbank`					`49,179`		`-`	`49,179`
`Currentliabilities`					`(12,819)`		`-`	`(12,819)`
					`6,004,734`		`2,356,487`	`8,361,221`

	`Unrestricted`	`Endowedfunds`	`Total`
	`funds`		`2021`
	`£`	`£`	`£`
`Fixedassetinvestments`	`4,605,832`	`2,150,440`	`6,756,272`
`Cashatbank`	`138,418`	`-`	`138,418`
`Currentliabilities`	`(11,040)`	`-`	`(11,040)`
	`4,733,210`	`2,150,440`	`6,883,650`

	`2022`	`2021`
	`£`	`£`
`Netmovementinfunds`	`1,477,571`	`2,992,525`
`Deductinterestanddividendincome`	`(21,711)`	`(11,550)`
`shownininvestingactivities`
`Adjustmentforlosses/gainson`	`192,342`	`($89,004)`
`investments`
`Increaseincreditors`	`1,780`	`60`
`Netcashgeneratedbyoperating`	`1,649,982`	`2,092,031`
`activities`

		`2022`	`2021`
		`£`	`£`
`Cash`	`heldforreinvestment`	`311,872`	`753,711`
`Cash`	`atbank`	`49,179`	`138,418`
`Total`	`cash`	`361,051`	`892,129`

	`Unrestricted`	`Endowed`	`funds`
	`funds`	`funds`	`2021`
	`£`	`£`	`£`
`Incomefrom:`
`Charitableactivities`	`2,316,712`	`340,000`	`2,656,712`
`Merchandisesales`	`6,458`	`-`	`6,458`
`Investmentincomeand`	`11,550`	`-`	`11,550`
`dividends`
`TotalIncome`	`2,334,720`	`340,000`	`2,674,720`
`Expenditureon:`
`Raisingfunds`	`40,950`	`-`	`40,950`
`Charitableactivities`	`487,762`	`42,487`	`530,249`
`TotalExpenditure`	`528,712`	`42,487`	`571,199`
`Net realisedandunrealised`	`577,048`	`311,956`	`889,004`
`gainsoninvestments`
`Netincome`	`2,383,056`	`609,469`	`2,992,525`
`Transfersbetweenfunds`
`Netmovementinfunds`	`2,383,056`	`609,469`	`2,992,525`
`Reconciliationoffunds:`
`Totalfundsbroughtforward`	`2,350,154`	`1,540,971`	`3,891,125`
`Totalfundscarriedforward`	`4,733,210`	`2,150,440`	`6,883,650`