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





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|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|||||





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|Fr Keith McMillan|Fr Keith McMillan|SJ|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||||



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





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|||||Unrestricted|Endowed|Total|funds|Total funds|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds||2023|2022|
||||Note||||||
|||||E|E||E|E|
|Income from:|||||||||
|Charitable<br>activities|||3|1,343,451|434,676|1,778,127||2,451,193|
|Merchandise<br>sales||||||||6,822|
|Investment<br>income||and|4|33,387|||33,387|21,711|
|dividends|||||||||
|TotaI Income||||1,376,838|434,676|1,811,514||2,479,726|
|Expenditure<br>on:|||||||||
|Raising funds||||22,003|||22,003|10,280|
|Charitable<br>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<br>assets|||||||||
|Net income||||392,418|375,695||768,113|1,477,571|
|Transfers between||funds|||||||
|Net movement<br>in|funds|||392,418|375,695||768,113|1,477,571|
|Reconciliation<br>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|





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||||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<br>by operating<br>activities||14|755,140|1,649,982|
|Cash flows from investing<br>activities|||||
|Investment<br>interest<br>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<br>activities|||(263,955)|(2,181,060)|
|(Decrease)/ Increase in cash in the year|||491,185|(531,078)|
|Cash and cash equivalents<br>at the beginning|ofthe year||361,051|892,129|
|Total cash and cash equivalents<br>at the end|ofthe period|15|852,236|361,051|





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|ncome|from cha|ritable<br>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<br>2022 Total|Endowed<br>2022 Total|Endowed<br>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|





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|Analysis ofexpenditure|on raising funds and chari|table<br>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<br>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<br>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<br>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|



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||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|





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





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|||||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<br>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|





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



|Analysis of|movem|ents<br>in unrestr|icted<br>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<br>in Endowe|d<br>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|





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|||Funds at 1|Funds at 1|Incoming|Resources|Transfers|Gains on|Funds at|
|---|---|---|---|---|---|---|---|---|
|||September<br>resources|||expended||investments|31August|
||||2021|||||2022|
||||E|E|E|E|E|E|
|General fund||1,100,880<br>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<br>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|





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|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|



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|||||2023|2022|
|---|---|---|---|---|---|
||||||6|
|Net movement|in funds|||768,113|1,477,571|
|Deduct interest|and|dividend|income|(33,387)|(21,711)|
|shown<br>in investing||activities||||
|Adjustment<br>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||||||



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|||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|



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||Unrestricted|Endowed|Totalfunds|
|---|---|---|---|
||funds|funds|2022|
|Income from:||||
|Charitable<br>activities|2,101,193|350,000|2,451,193|
|Merchandise<br>sales|6,822||6,822|
|Investment<br>income and|21,711||21,711|
|dividends||||
|Total Income|2,129,726|350,000|2,479,726|
|Expenditure<br>on:||||
|Raising funds|10,280||10,280|
|Charitable<br>activities|715,882|83,650|799,532|
|Total Expenditure|726,162|83,650|809,812|
|Net realised<br>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<br>in funds|1,271,524|206,047|1,477,571|
|Reconciliation<br>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|