2023-08-31-accounts - The Stonyhurst Foundation

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Contents			Page
Reference and administrative		details
Trustees' report			4-11
Independent auditor's	Report		12-15
Statement offinancial	activities		16
Balance sheet			17
Cash flow statement			18
Notes to the financial	statements		19—31

Mr John Browne	Mr John Browne	Mr John Browne
Fr Christopher		Cann					Appointed	7September 2022
Mrs Catherine		Carnegie
Mr Winton de		St John-Pryce
Mr Frederick	Holt						(Vice-Chairman)
Ms Desiree Jebsen
Mr Michael Joseph							(Chairman,	until 22 June 2023)
Mrs Christine		Keunen
Fr Keith McMillan			SJ
Mr lan Murphy
Mr Eugene Nealon							(Chairman,	from 22 June 2023)
Mr Richard Saunders
Foundation	director:			Mr John Cartwright-Terry
Foundation	manager:			Mrs Cathie Butcher
Bank:				HSBC
				1Centenary		Square
				Birmingham
				B11HQ
Auditor:				Saffery LLP
				Mitre House
				North Park Road
				Harrogate
				HG1 SRX
Solicitor:				Womble	Bond Dickinson
				1Whitehall		Riverside
				Leeds
				LS14BN
Investment	Manager:			CCLA
				One Angel Lane
				London
				EC4R 3AB

Fr Keith McMillan	Fr Keith McMillan	Nominee ofthe Provincial	Nominee ofthe Provincial	ofthe British Province ofthe Society	ofthe British Province ofthe Society	ofthe British Province ofthe Society
		ofJesus
Mrs Christine	Keunen	Nominee of Chair ofGovernors of			Stonyhurst	College
Mr John Browne		Headmaster,	Stonyhurst
Fr Christopher	Cann	Headmaster,	Stonyhurst	St Mary's	Hall
Mr lan Murphy		Stonyhurst	Head of Partnerships

Mrs	Catherine Carnegie
Mr	Winton de StJohn-Pryce
Mr	Frederic Holt
Mrs	Desiree Jebsen
Mr	Michael Joseph
Mr	Eugene Nealon
Mr	Richard Saunders

				Unrestricted	Endowed	Total	funds	Total funds
				funds	funds		2023	2022
			Note
				E	E		E	E
Income from:
Charitable activities			3	1,343,451	434,676	1,778,127		2,451,193
Merchandise sales								6,822
Investment income		and	4	33,387			33,387	21,711
dividends
TotaI Income				1,376,838	434,676	1,811,514		2,479,726
Expenditure on:
Raising funds				22,003			22,003	10,280
Charitable activities				917,043	82,702		999,745	799,532
Total Expenditure				939,046	82,702	1,021,748		809,812
Net (losses)/gains	on		9	(45,374)	23,721		(21,653)	(192,343)
investment assets
Net income				392,418	375,695		768,113	1,477,571
Transfers between		funds
Net movement in	funds			392,418	375,695		768,113	1,477,571
Reconciliation offunds:
Total funds brought				6,004,734	2,356,487	8,361,221		6,883,650
forward
Total funds carried		forward		6,397,152	2,732,182	9,129,334		8,361,221

			Note	2023	2022
				E	E
Fixed assets
Investments			9	9,127,393	8,324,861
Total fixed assets				9,127,393	8,324,861
Current assets
Cash at bank				13,521	49,179
Total current	assets			13,521	49,179
Liabilities
Creditors: amounts		falling due within 1year	10	11,580	12,819
Net current	assets			1,941	36,360
Total assets	less current liabilities			9,129,334	8,361,221
Unrestricted	funds			6,397,152	6,004,734
Endowed funds				2,732,182	2,356,487
Totalfunds				9,129,334	8,361,221

		Note	2023	2022
Cash provided by operating activities		14	755,140	1,649,982
Cash flows from investing activities
Investment interest and dividends			33,387	21,711
Purchase ofinvestments			(1,638,286)	(2,386,255)
Proceeds from the sale of investments			1,340,944	183,484
Cash used in investing activities			(263,955)	(2,181,060)
(Decrease)/ Increase in cash in the year			491,185	(531,078)
Cash and cash equivalents at the beginning	ofthe year		361,051	892,129
Total cash and cash equivalents at the end	ofthe period	15	852,236	361,051

ncome	from cha	ritable activities
				Unrestricted	Endowed	2023Total
				Funds	Funds
						E
				f	E
Other	incoming	resources transferred	from Stonyhurst
	Donated	sales		945		945
	Donations			1,342,506	434,676	1,777,182
				1,343,451	434,676	1,778,127

					Unrestricted	Unrestricted	Endowed 2022 Total	Endowed 2022 Total	Endowed 2022 Total
						Funds		Funds
									E
							E	E
	Other incoming		resources transferred	from Stonyhurst
	Donated		sales			1,080			1,080
	Donations				2,100,113			350,000	2,450,113
					2,101,193			350,000	2,451,193
4	Investment	income
					Unrestricted	Endowed		2023	2022
					Funds		Funds	Total	Total
							f	E
	Interest				11,666			11,666	940
	Dividends				21,721			21,721	20,771
					33,387			33,387	21,711

Analysis ofexpenditure	on raising funds and chari	table activitie	s
		Direct	Support	Governance	2023
		costs	costs	costs	Total
				f	f
Cost ofraising funds
Consultancy
Website, marketing	and other related	22,003			22,003
costs
Total cost ofraising funds		22,003			22,003
Cost ofcharitable activities
Bursa ries to Stonyhurst		838,277			838,277
Other costs			146,990	14,478	161,468
Total cost ofcharitable	activities	838,277	146,990	14,478	999,745
Total Resources expended		860,280	146,990	14,478	1,021,748
is ofexpenditure on raising funds and charitable		activities —prior year
		Direct	Support	Governance	2022
		costs	costs	costs	Total
				f	f
Cost ofraising funds
Consultancy		1,324			1,324
Website, marketing	and other related	8,956			8,956
costs
Total cost ofraising funds		10,280			10,280
Cost ofcharitable activities
Bursa ries to Stonyhurst		701,143			701,143
Other costs			84,423	13,966	98,389
Total cost ofcharitable	activities	701,143	84,423	13,966	799,532
Total Resources expended		711,423	84,423	13,966	809,812

	Support	Governance	2023
	costs	costs	Total
		f	f
Audit and accountancy		11,880	11,880
Insurance		1,987	1,987
Professional fees
Subscriptions	2,346		2,346
Staff costs	135,837		135,837
Trustee expenses		611	611
Sundry	4,111		4,111
Bank charges	130		130
Travel costs	4,566		4,566
	146,990	14,478	161,468

		Support	Governance	2022
		costs	costs	Total
			f	f
Audit and accountancy			11,520	11,520
Insurance			1,893	1,893
Professional	fees		553	553
Subscriptions		1,924		1,924
Staff costs		50,102		50,102
Staff recruitment		30,973		30,973
Sundry		463		463
Bank charges		189		189
Travel costs		772		772
		84,423	13,966	98,389

		2023	2022
		Total	Total
This is stated	after charging:
Auditors' remuneration
Audit fees-	current and prior year	9,600	8,400
Accountancy	services	3,600	3,120
		13,200	11,520

				2023	2022
				Total	Total
Listed investments
Opening	balance			8,012,989	6,002,561
Additions				1,638,286	2,386,255
Disposals				(1,340,944)	(183,484)
Net (losses)/gains		on investments		(21,653)	(192,343)
Market Value at 31August 2023				8,288,678	8,012,989
Cash held	for reinvestment			838,715	311,872
Total				9,127,393	8,324,861
Historical cost of		investments	at 31August 2023	7,509,357	7,075,700
Investments at fair value				2023	2022
				Total	Total
Equities				8,288,678	8,012,989
Cash				838,715	311,872
Total				9,127,393	8,324,861

editors
	2023	2022
	Total	Tota I
	E	E
Accruals	11,580	12,819
	11,580	12,819

Analysis of	movem	ents in unrestr	icted funds
		Funds at 1	Incoming	Resources	Transfers	Loss on	Funds at
		September	resources	expended		investments	31August
		2022					2023
		f	E	E	E	E	E
General fund		2,067,052	1,376,838	(939,046)	673,468	(45,374)	3,132,938
Designated	fund	3,937,682	-	-	(673,468)		3,264,214
		6,004,734	1,376,838	(939,046)	-	(45,374)	6,397,152

Analysis ofmoveme	nts in Endowe	d funds
	Funds at 1	Incoming	Resources	Transfers	Gains on	Funds at
	September	resources	expended		investments	31August
	2022					2023
Expendable
Endowments
Conrad fund	1,259,693	84,676	(26,502)		8,303	1,326,170
Ryder Systems	216,766		(8,000)		492	209,258
425 Bursary Fund	208,984		(7,600)		443	201,827
The Joseph	194,455	100,000	(4,000)		5,654	296,109
Family Boarding
Bursary
The Jebsen Fund	476,589	250,000	(36,600)		8,829	698,818
	2,356,487	434,676	(82,702)		23,721	2,732,182
Total funds	8,361,221	1,811,514	(1,021,748)		(21,653)	9,129,334

		Funds at 1	Funds at 1	Incoming	Resources	Transfers	Gains on	Funds at
		September resources			expended		investments	31August
			2021					2022
			E	E	E	E	E	E
General fund		1,100,880 2,129,726			(726,162)	(305,352)	(132,040)	2,067,052
Designated	fund	3,632,330				305,352		3,937,682
		4,733,210 2,129,726			(726,162)		(132,040)	6,004,734
Analysis of	movements		in Endowed funds
			Funds at 1	Incoming	Resources	Transfers	Losses on	Funds at 31
			September	resources	expended		investments	August
			2021					2022
					E	E
Expendable
Endowments
Conrad fund			1,319,211		(27,450)		(32,068)	1,259,693
Ryder Systems			230,312		(8,000)		(5,546)	216,766
425 Bursary	Fund		221,718		(7,600)		(5,134)	208,984
The Joseph Family			106,014	100,000	(4,000)		(7,559)	194,455
Boarding Bursary
The Jebsen Fund			273,185	250,000	(36,600)		(9,996)	476,589
			2,150,440	350,000	(83,650)		(60,303)	2,356,487
Total funds			6,883,650	2,479,726	(809,812)		(192,343)	8,361,221

2023		Unrestricted	Endowed	Total
		funds	funds	2023
		E		E
Fixed asset investments		6,395,211	2,732,182	9,127,393
Cash at	bank	13,521		13,521
Current	liabilities	(11,580)		(11,580)
		6,397,152	2,732,182	9,129,334

2022		Unrestricted	Endowed	Total
		funds	funds	2022
		E		E
Fixed asset investments		5,968,374	2,356,487	8,324,861
Cash at	bank	49,179		49,179
Current	liabilities	(12,819)		(12,819)
		6,004,734	2,356,487	8,361,221

				2023	2022
					6
Net movement	in funds			768,113	1,477,571
Deduct interest	and	dividend	income	(33,387)	(21,711)
shown in investing		activities
Adjustment for	losses/ gains		on	21,653	192,342
investments
(Decrease)/Increase		in creditors		(1,239)	1,780
Net cash generated		by operating		755,140	1,649,982
activities

		2023	2022
		6	f
Cash	held for reinvestment	838,715	311,872
Cash	at bank	13,521	49,179
Total	cash	852,236	361,051

	Unrestricted	Endowed	Totalfunds
	funds	funds	2022
Income from:
Charitable activities	2,101,193	350,000	2,451,193
Merchandise sales	6,822		6,822
Investment income and	21,711		21,711
dividends
Total Income	2,129,726	350,000	2,479,726
Expenditure on:
Raising funds	10,280		10,280
Charitable activities	715,882	83,650	799,532
Total Expenditure	726,162	83,650	809,812
Net realised and unrealised	(132,040)	(60,303)	(192,343)
losses on investments
Net income	1,271,524	206,047	1,477,571
Transfers between funds
Net movement in funds	1,271,524	206,047	1,477,571
Reconciliation offunds:
Total funds brought forward	4,733,210	2,150,440	6,883,650
Total funds carried forward	6,004,734	2,356,487	8,361,221