2022-08-31-accounts

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	Total	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