THE SCOULOUDI FOUNDATION REGISTERED CHARITY NO: 205685 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 7 FEBRUARY 2024 Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG
THE SCOULOUDI FOUNDATION CONTENTS Page Trustees. Report Independent Examinerfs Report Statement ol Financr8lAcb'vities 8alafi¢e Sheet Notes to the Finanaal Slalements 8-14
THE SCOULOUDI FOUNDATION TRL.'STEES' REPORT FOR THEYE..IR ENDED 7 FEBKL.ARI'2024 Referen¢¢ and Adminlstratlon The Scouloudi FoundalKJn is constrtuled by a Deed of Trusl daied 8 February 1962 incorporating amendments made by a scherre dated 19 October 2022 and by fesolulion dated 9 February 2023. The Scouloudi Foundaiion is a regb$teied tharity. Charity Number 205885 T¥uslees Mrs Sarah E 8axter- Chairtnan Mr J Oavid Marnham- Retired 23Aprd 2024 Mr James R Sewell Ms Vvendy Pro¢tor- Appointed 14 May 2023 Rachel Strother- Appointed 23 Apnl 2024 Prinapal and RegisleredAddres$ 10 Queen Street Place. London. EC4R 1AG Adminis1181ion and Accountants Haysmaontyre LLP. 10 Queen Street Pla¢e. Lon(kni. EC4R 1AG Independenl Examiner Leonard Jones & Co. J Printing House Yartl, London. E2 7PR Solicitors 8D8 Pitmans LLP. One Bartholrn Close. London, EC1A78L Bankers A18, 1 st Floor, Berkeky Square Hovse. Mayfair. London W1J 68R lnve5trrnI Mana9ers Jame5 Hambro & Partners LLP. 45 Pal Mam. London SW1Y 5JG Hlstory of thè Foundation The lounder of the Foundation was Miss Ine Scouknudi. who was an historian and philanthropist. Objectives and zctivitses lor ¢he publlc benefil The objecl of the charity. as set out in the Deed ofTNsl. is to appty Ihe annual Irne ofthe Charity to or lor the benefit of su¢h tharity or chanties las defined by SeCtn 101 the CharitsesActl as the Trustees may from lime lo lime dwde. The Truslees, Donations Policy is lo support chawityes within the folknwing categories: Children & Youth Environment 8 Humanities Overseas Handicapped & Disabled Medicine. Health & Hosp$ Social Welfare There is no fLxed perntage lor each cate90ry and calegleS be Idenrf by the Trustees from time lo lime. The Tnjslees confirm thai they have complied wth sectton 4 of the Charnies Acl 2011. Ihè Tw51 Oeed and the Statement of Recommended Practice. Accountin9 and Reporting by Charities (Second Edition. effective 1 January 20191, when reviewng the Foundation's aims and objeG¢Lves and in pknning future activit*5 and setting Ihe donation making policy. Structure, govornance and managèmont The statutory power of appoinlmenl of Irustees is exerasable by the Psent Truslees. New Ir(tstees, when required. will b& found by the exisiing Iruslees. When recwiting new trustees the Trustees look for indldualS with skills and experience which are of valve to Ihe FOUndatn and which a¥e not neces58rity epresenled by existing Irusrees. Any poler1tl trustees will be interviewed by Ihe existing Trustees and rf appointed will be provided wth a pack of information indvding ac£ounts and a copy of the Trust Deed.
THE SCOULOUDI FOUNDATION TRiISTEES' REPORT FOR THE Tr'E,IR ENDED 7 FEBRLIARI. 2024 Structure. governance and management {con'tl The Trustees are expenenced individuals and have a gocpj understanding of what ts invofved in being a trustee of a charrtab]e trust. Wherè appfopriate Ihe Foun¢JaIn supports ihe training of Iruslees including attendance at seminars. The Trustees meet annualty to consider recomwEndalions for. and make final deasrons on, the awarding 01 donations. The day to day adminislralK)n of the Foundation is ¢arried out by Haysmacintyre in consultation with Ihe Trustees, as appropriate. The fovnder ol the Foundalion was Miss liene Scoubudi. who 0S an hk8lorian and philanthropi51. Accounts The Trustees present their annual report and accounls for the year ended 7 Febry 2024. The accounts have been prepared in accordance wth the accounting polioes set OLrt in fiote 1 to the accounts and ¢ompty with the FoundalKJn's govèrnin9 documenl deed. Ihe CharitièsAct 2011. Accounting and Reporting by Chanties." Statement of Recommen¢Jed Practice applicable lo charities preparing their accounts in accordanc& with the Financial Reporting Standard applicable in the UK and Repubk ol Ireland and Financial Reporting Stsndard 102. Total retum approaeh to investments Wth effecl Irom 8 February 2022 Ihe FoundatKn adopied a total retum approach to investmenl in relation to its Permanent Endowmenl. pursuant lo seclion 104AI21 of tite Chanbes Act 2011. The total retum approach pemiits funds 10 be invesleil without the nee(J to maintain a b?nCe beeen income and caprtal retums and remDves the re5lriclions as to expendilure of rapilal thal wovld normauy appty. The Foundation's uaapplied tolal retum al 8 Febwary 2022 was cakulated by edting the Original Pemanenl Endowment Valuation. being the 0ri9inal 91fts made by Irene Scoubudi. Ihe Foundation's founder. frgm Ihe Pemanent Endowment al that date. The Twustees carried oul a ValUatn exerryse and prepared a valuation report daied 28 March 2022. explaining the process carried oul in attfibuling an esiimated value of £850,000 to Ihg Original Permanenl Endowment. An advi letter dated 28 March 2022 from Haysmaontyre. the Foundation'¥ accountants. conduded Ihat the steps tsken and the concFusion reached by Ihe Trustees in valuing Ihe Original Pemanent Endowment We 8$onable. The Foundation's Pem)anent Endowment was valued at £8.776.914 at 8 February 2022 gNing an initial unappr total return at Ihat date of £7,926.914. In determining what percentage of the unapplied total reium io transfer lo income on an annual basis the Trustees received an advi letter dated 28 September 2022 from James Hambro & Partners LLP IJH&PI. the Found31ion'3 FCA-aulhorised investment manager. The adv atipared Ihat in pursuing a lolal retum approach up to thirds of the tolal tUrn will derNe from capital 9rowih wrth the balance from income generalion. arthough this rnay vary from tim¢ to lirne depending on market condibons and is nol 9uaranteed_ The advicè alsg showed that the historic ann¢Jalised total relum on a nominal basis fof a Mandale 3 Portfolio fof the period 31st Decernber 1969 to 301h June 2022 is +9.8°/o. JH&P noted th31 the effect ol inflation 15 expecled to redu the overall nominal return over time and that they use historic retums as a guidè. JH&P's expecialion is ihat forecasts can improve over longer periods of lime but ovei Shorter periods can be disrupled qurte signthcantty and particularty so foi example ouer the coming 11>year period when Ihey might reasonabty expect a recession and arguably higher levels ol inflation than have been the case in Ihe nt past. Their anatysis thérefore purposefulty uses a period from the end of 1969 to encompass numerous market cyctes and drawdowns. Having due regard to the advice received the Twstees resolved to lake each year lo income 5% ol the vnapplied total relvm. as valued at the dale ol the Trustee meeting to agree the donaiions for the year. This policy will be subject for a rewew for the year commencing e February 2025. An amount of £376,000 has been translerred Irom Ihe unapplied total return to income for the year ended 7 February 2024 and no amounts have been allocated to the Twsl for Inve5tmenl. Donatlon maklng polley and revlew of activities The current ¢Jislribulion poly ol the Trustees llects the inte$t$ and MilentK)ns of Ihe Founder. Annual distributions are dwided into calegories". 1. Donations to iegi5tered tharrties and exempl chan.lyds thai sUPPOrt, encourage and promote history in its widest sense and historians at all le¥els_ This indude5 ftjndiftg lellowships and scholarshps tenable 8t academic ¢n5titulions. supporting research and publi1)n$ in the fiekl of history. 5UPPOrting public en9agemenl with history by events. leaures and workshops and encouragin9 Ihe leaching of history in schools. Thè truslees also support the ¢atIon and preseNal'on of archNes and libraries. and the col*ctK)n and conservation of hisloiical objects and arlefacls. These dtsnalions are deryded ty the Tfuslees annvalty. 2. DonatnS to re91sle charibes whth are decided by the Trustees annual. DonatFon making policy and review ol atlivitles (con'ti The distribution of donatKJns during Ihe yearwas as follows..
THE SCOULOUDI FOUNDATION TRL'STEES, REPORT FOR THE I'E,IR ENDED 7 FEBRL..IR)'2024 Total Children & Youlh Environmenl & Humanitio$ Overseas Aid Handicapped & Disobled Medicine. Health & Hospices Social Wellare 30.fKIO 159.000 25.OIKI 25.(XXI 30.1 16 319.(KAI The cumulalive total of d¢ination5 made by the Injslees since the Twslwas esiablished up to 7 Febwary 2024 is £7.489,781. Achievements and perforniance The Trustees, obieclNe for Ihe year was lo irwease donations to worthy causes. For the year ended 7 February 2024 Ihe Foundation made donations of £319.000. an inc8Se of £29.044 on the prior year's donations of £289,956 and therefore the Trustees consKler the objedsve for the year has been luuy achieved. Investsnent pollcy and perfomianc• The Trustees en9a9e James Hambro & Pariners LLP as invesirnent rnanagets With the briefto adopt a medium risk lotal return investmeni strategy and have agreed on a composite benchmark by which to judge perfomiance and whilsl the performance was slightty beltsw ihe benchmark lor Ihe year the Trustees understand the re850ns for the under perfomiance and belve that an appropnate investmenl 5trate9y has been adopted for the longer term. The investment portfolio generated income for the year of £156.52612023.' £202.38418nd Thade nel gains of £374.22512023.' bsses £56,203) on ihe disp0501 of investmenls dwing the yeac and the revaluation ofthe portfolio at Ihe year end. Flnanclal revlèw Income for the year amounted to £156.52612023.' £202.3841 comprising investrnent income and Jjnder total ielum accounting has been taken to the Foundatitsn's Endowment Fund. The deuease of£45.858 reflects the adoplion ol a total return investment slaiegy from the Foundation's previous income invesinnt strategy. In addition an investment rnanagement fee ol £83.431. and a tran5fei lo the Incorre lund 01 £376,000 have been charged and investmethl gains of £374.225 have been credrted to the Endowrnent Fund resulting in an increase in the Foundation's Endowment Fund at 8 February 2024. of£91.320 to £8.604.046. The £376.000 Iransfer is the 5% per annum of Ihe UnappId total retum the Tw5tees have resolved to transfer during the year as explained in nole 11bl to the 3ccount5. The Financial statements show investmenis ai market value. The unrealised and realised gains and losses on the revaluation and disposal of investment assets for the ye3r was a nel gain of £374,22512023'. loss £56.2031. Nét assels al the balance sheei dale amounled lo £8.727,84512023." £8.609.0451. total assels including inveslmenls and $h at bank and on deposit being £8.798.83312023." £8.700.5911 Rèstrves rgvlew In¢ludlng polley Al the balance sheet date the Foundaiion had an unrestrKled IncDme Fund of £123.79912023: £96.3191, an unapplied tol81 return Endowmenl Fund of £7.754.046 {2023". £7.662,7261, and a reslricled TfUSI for Investment of £850.00012023." £850.0001. As a resutt ol the Trustees. Ile¢ision ¢0 adopt a total turn approach, the current level of the Income Fund is hvJher than the tru5tee5 believe is quired and it is their inlenb.on lo ieduce the level of the Fund over the next year as additional charities for (lonations a i(Jentified. Rlsk managemont The Trustees have assessed Ihe major risks to which Ihe Foundation is exposed. in particular, those rela(ed to the operation and finance5 of the Fourtdatn and are satisfied thal systems are in place to mittgate exptssure to the major risks. Goln9 concem The Found31K)n had at 7 Febtyary 2024 accessible funds 01 £7.877.845. comprisin9 unrestricted incomè funds and unapplied total return. no donation commitments not provtded lor and all of the Fotsndaiion's dislnbulion$ are discretionary. Consequently. given Ihe level of Ihe Foundation'5 accessiblp fund5 and the di5crelionary nature of its distnbutsons. the Trustees are of the opinion Ihat Ihe FOundatn is a going concem for the coming year and the k)seeable luture.
TIIF. SCOULOtiDI FOUNDATION TRLF.Tr... REPORT THEI EAR EDF.D 7 Tr1.'BRUARI' 2•24 Pknn• luTrff• Folltswn9 of al IèlL¥h b•Si5 the cLthsew8nt¥V&WinfuM$ a%wlablÈ tothsirtmjie WLWlhy causes. lhlSteeS. ¥eYew Eoreassèss trf)Ih Ihe e5rj thwi15ygNe drAlain$ to lo Idenidypoleniol rtw LsSatth5 ststerMThtollnMteeJ' mPOnsilMIIti¢ ThE ImsiQQ5 ate res5 IDr pieparythe Tru•. Report •dtrfwnwl 51aiemeni¥ In •X0[dan wl apatie sdards ILknrt8¢ Khi9d•n GeneraAyA#epiedAccounbny Pla¢te> The law app10 ChareS wl rewtys ¢ThI5c510 siatemen15 foreach narKtalyeai a trueano e0f3[la1softhethalty ollhu Ilty) iosource5 aTh of resouF<esoltr¢lTrarity tor thai tel th prepariry thèfinanoalsutements. irusiees aio &tsk•iudww4s antrÈsknwlhdI arereasonablEand slate 51aMafdS h• gibpL# meal dÈpartu[es rftscknsed ewafftedm the Inal 51aiemenis. PreparetrfMw¥statalW basi%SlI$M3r¥mt t(bwe5unth Tru51 ty)nrU Dne&S any Dme the firsarx)a16X)5rtwrflhe cnable them 10 enyJiethat th• fitbanoal 51alernents comjiy chafft5A 2011. the TnJ¥ IAccoLrtS Rerts) ReguUWS and wo¥tyons olthe trus1 deed rh are 0 lesw% ror saletyarthty a55Q15 ofthe Foundatsn hente lot taking Icas0Trab 5tpsfor pieverthn ¥Odetecrth oflTaudandoihw iryeguW4S Sa13h E BéEier on toI1•1[US1O@5 16 07 2oiy
IIYDEPE,YDEYI T E1AMIER's REPORT TO THE TRIISTEES OFTHE SCOULOiIDI FOIT.YDATIO, Indèptndent examlnef¥ report to the Trustees of The Scouloudr Foundalion I report to the Iruslees on my eXaMinatn of the acwinls of the Scouloudi Foundaiion (the Fovndationl lor th¥ year ended 7 February 2024. R¢8ponslbllltles and basis ol report As Ihe charity Iwslees of the Foundation you are responsible for the preparats.on of the accoun1$ in 8CCOTdance wth th¥ requirements of Ihè Ch8ritEs Act 2011 IlheArfI. I raport in respect of my examinalion of the Foundatk)n'5 accounts caffled out under section 145 of the 2011 Act and in carrying out my examination I have followed au ihe apPItble Directions gNen by Ihe Chanty Commission under section 14515llbl of Ihe Acl. IndependÉnt examlnorfs ststomtni I have completed my exanwnation. l ¢onfiFm thal no material maMer5 have come to attent)n in conne¢lion wilh ihe examination giving me cause to bel¥e that in any malerial r*spect.' 1. accounting records were nol kept in respecl of the FoundatKJn as required by sectKJn 130 of the Act.. or 2 Ihe accounis do noi accor(I wlh those records. or 3. the accounts do not compty with the appluble requ1MentS concerning Ihe form and content of accounts sel out in the Charilies IAccounls and Reportsl Regulations 2008 other than any requirernenl thal the account5 give a true and fair view %yhieh is not a matti onsidered as part ol an independent examinab'on. I have no concem5 and have come across no other mattets in connecbon with the $x8mination to which 8ttentr.on should b8 drawn in this report in tsrder to enable a proper underslanding of the accounts to be reached. D A Lyon5. FCA Parfner in Leonard Jones & Co. Chart$ ACCOtanIS 1 PrintirwJ House Yard London E2 7PR 2024 Iq44 .
THE SCOULOUDI FOUNDATION STATE.IIENT OF Fl.%*tNC.I,IL.ICTII'TTIE5 FOR TIIE I'EAR ENDED 7 FEBRLIlRI' 2024 Unrestriclèd Furtds Endovnnent Income Fund Total 2024 Total 2023 Notgs INCOME FROM Income from Investments 156.526 156.526 202.384 To¢al Incomg 156.526 156,526 202.384 EXPENDITURE ON Investmenl management fee 63.431 63.431 62,909 Charitsble Activittes 348.520 348,520 323.048 Total Expènditur• 348,520 63.431 411,951 385,957 Net IExpenditure)lln¢ome before gains and losse5 on Inveslmenls 1348,5201 93.095 1255.425) 1183.573} Net gainsll1055esl on Investments 374.225 374,225 156.203} Nel (Expenditureifincorre {348.520} 467.320 118,800 1239.7761 Gross transhrs b•tw8•n Funds: Transfer- allocation of total relum 11b1&3 376.0(KJ 1378.OJOI NET MOVEMENT IN FUNDS Fund balance5 brought fotward al 8 Febiuary 2023 27.480 91,320 118.81KJ {239,7761 ,319 8.512.726 8,609,045 6.848.821 Fund balances ¢arried forward 817 Febwary 2024 123,799 8.604,046 8.727.845 8.609.045 All Ir8n5actions ¢Juring Ihe year are deiived from continuing acti¥rt5. All r8cognised gains and kssses are induded in the statement of financk81 actNities. The notes on p8ge$ 8 to 14 form part ofthese fanCial siatemenls.
THE SCOULOUDI FOUh'DATION B,11..4liCE SHEET AS AT ? FLBRIIARI, 2024 Note 2024 2023 FIXED ASSETS Investmenis 8.705.046 8.660.820 CURRENT ASSETS C35h 31 bank and on deposil 93.787 39.771 93.787 39.771 Credilors.. Amounts lalling due within one y¢4r Cledilors 70.988 91.$46 70,988 91,546 NET CURRENT ASSETSIILIA81LITIES} 22.799 151.77SI TOTAL ASSETS LESS CURRENT LIABILITIES 8.727.845 8.609.04S TOTAL NEfAsseTS 8.727.845 8.609,045 THE FUNDS OF THE CHARITY Income Fund unreslrKled Endowmenl Fund 123.799 8.604.046 96.319 8.512,726 3&7 TOTAL CHARITY FUNDS 8.727.84S 8.609.045 Approve<S by Ihe board of trustees and SDed on rts behall by.. Mrs Sarah E. Baxter, Trustee Date The notes on pages 8 lo 14 lorm parl ol Ihese finaThial statements.
THE SCOULOUDI FOUNDATION I OTES TOTHE FIYAYC-IAI.STATE%IEP4TS prt¢SpaI Aceountlllg Policie¥ Basis of accoun¢lng The financk81 slalemenls have been pr¢pared in accordance wilh A¢¢ounling and Reporting by Charities". siaiement of Recommended Pla1 for charilies {Second Edrtion. elfective. 1 January 20191 and Finanrial Reporting Standard 102. The Foundation meeis Ihe definilKJn of a public benefit enlty vndei FRS 102. The Founil81ion is a Trusl constrtuled by a Deed of Trust under English law. The Charity's principal addfess and adminislrative address is 10 Queen Street Place. London. EC4R 1AG. Assets and liabilities are initialty recognised al historical c05t or transacb.on value Un$$ othewse staled in the felevani accountin9 policy notes. Totsi Return Accountin9 With effèct from 8 February 2022. pursuant lo Section 104A121 of the Chanties Act 2011. Ihe Foundation a¢Jopted a iotal retuffl approach lo Investmeni in relation to Ihe Foundation's pefmanent endowmenl. including Ihe lUMS from inveslments. In calculating the Foundation's unapplied total reiums ai thal date Ihe Original PeTmaneni Endowment. which has been attributed with an eslimaled value 01 £850.000. was deducted from the Foun¢JatKJn's pemianent endowment. The FountJaiTron's unapplied total tumS cn be used in accordance wth the Foundation's objeclives. The Trustees, policy is to Iransfef 5% of tha unapplied total relvm, as valued at Ihè date of the tru5tees' meetin9 to agree the donatnS for the year, each ye¥r to income. Ibl 1¢) Goln9 Concem The Foundation had ai 7 February 2024 accessible lund5 of £7.877.845, comprising unreslricted tncome lun¢Js and Unappr total retum. no donalion commrtments not provtded for and all ol the Foundation's dislribvlions are ¢Jiscrets"onary. Consequenlty. given thè level of the Foundation's accessible funds and the disCl)nary nalure of its diStribuons. Ihe Truslees are ol the opinion that the Foundalion is a going concern fr)r the coming year and Ihe foreseeable tuture. {dl Investments and Flnancial Instruments The FoundalK)n hold5 only bas finanaal instrumenls. which are held as lisied invesimenls. Investments arè staled al ml1market values rulin9 al the baknce Sheet date. A continuous revalvalion approach is adopted for inveslmenl assets. All realised and unrealised 98ins and losses on the rev8luatKn and disposal ol investment Jssels a induded in the Slatennt of FinancialActivrf¥es aThJ in the noles to Ihe accounts. (el Income Income arising from inVesntS is accounted forvrtn it is receivabk. Donations Donations are charged to the Slalement of FinancialAcli¥iiies when awarded and a commrfment is entered into. ifj Igl Expendlturè Expentjrture is recognised on an accwa15 basis. Govemance costs rise those for the runnin9 of the charity. {hl Inve$tsnent Management fee Prior to 19 October 2022 Ihe inveslment fflanagement fee was tharged lo in 8c%ordance wilh the requirements ol the Founda1n.$ Deed of Trusl dated B February 1962. Following an applicalion by the truslees the Charity Commission ordered. under the power given in the Charitie5 Acl 2011, that from 19 Odober 2022 the clause in Ihe 8 February 1962 Deed ol Trust quiring the investment managemenl charge be charged lo income be replaced wth a clause slats.ng that any cosi or expense Incurred in relation lo Ihe management of the Charity's investments may be rrt from the capital ol the Pefmanenl Endowmenl Fund ol the Charity. Consequenity. with effect fvom 19 October 2022 any investment management fee incurred has been charged lo the Endowment FUSMI. (Nole 6)
THE SCOULOUDI FOUNDATION I OTF.S TO TIIE FlI%A,NC I,IL ST.tTE.IIEliTS Endowmènt FundlPèrmanent EndowTnent Fund Following the actoption on 8 Febfuary 2022 of a total relum approach lo invesiments in relalK)n to the Foundation's Permanent Endowmenl. the Foundab"on's Perrnanenl Endowment Fund became the Foundalion's Endowment Fund at Ihat date comprising the Onginal Pemiafienl Valuation 01 £850,000, whith is n¢)w shown as Ihe Tlusi fof Investmenl. and an Unapplied Total Relum Fund of £7.926,914. Any incorne and capilal gains or losses arising on the Foundat#)n's irnie51ffents lom part of Ihe Endowment Fund's unapplted lotal retum. whh can be used in accoidance wth the Foundation's objectwes and amounted to £7.754,046 al 7 February 2024. Material judgements and unetrtanties The preparation of the finanual statements requires management to make judgements. eslimaies and assumptions thal affect Ihe anyjunts reponed ltsr assets and liabilrtie$ as ai the balance sheet date and the amounts reported for revenues and expenses during the year. Th* nature of estimation means the actual outcomes could drffer from Ihose eslimales. The are no jud9ernents made Ihat have a si9nificant effect on Ihe amounts recognised irt Ihe finacial statements. o'i Inv•stsn¢nts The investment portfol is managed on a rjiscreiionary basis by rnes Hambro & Partners. on a medium risk total tUrn investsnenl strategy. The Foundation's investmenls are reg15terèd in the name ol RBC Investor S&rvi¢es (UK Bfanchl Of 1[undS Bank SA. the nominee company ol James Hambro & Partners. Inveslrren15 a valued by relete to rnarkel values as at the 7 February 2024 2024 2023 UK Investffnts at market value Overseas quoted in¥eslments Cash held as part of the invesiment portlolio 3,938,119 4,456.086 310.841 3,457.709 5,037.214 165.897 8,705.046 8,660.820 Market value at 8 February 2023 Additions at cost Market value of dtsty)sals Net gainslllossesl on reValUatn and disposals 8,494.923 1.832.515 {2.307.458) 374.225 8,222.694 4,489.212 14.160.780) 156,2031 Mark¢i value at 7 February 2024 Cash held in the inveslmenl portfolo 8,394.205 310.841 8,494.923 165.897 8,705.046 8.660.820 Income VK quote(l investmen Overseas quoted invesimenls Brokers interest Bank interesl 47.944 99.147 9.298 137 84,572 114.824 2.897 91 156.526 202.384
THE SCOULOUDI FOUNDATION I OTES TO TIIE FIINANC'IAL STATEIIEINTS Endowment Fund The inv¢stmenl frjnd #nd applicat*Jn of ¢Ot?I retum to pewmanent endow0t fund5. 2024 2023 Opening value ol pemianent endowmenl Opening value ol en¢owmenl lund 8.776,914 8.512.726 Less.. Orginal Pem)anent Endowment-Twst for Investment 1893,¢X#)I 1850.0001 Vn8pplied IOtsI retum brtsught foryrnrd 7.W2.726 7,926,914 Add Inve5trnent relurn- Income from Investffents Investrnent relurn- net 9ain51llossesl Investmenl management fee 1.528 374.225 {63.4311 202.384 156.2031 131,1301 Unapplied total relum before transfer lo income 8,130,046 .041.965 Léss Total r¥ium 8ppltod {376.000} 1379.2391 Unapplied tolal return as at 7 February 2024 7.754,lJ46 7.662.726 Add Tru51 lor Investment 8SO.LKJO 850.000 Endowmenl fund at 7 February 2024 8.604.046 8.512.726 The Trustees. polrcy is to transfer 5°h of the unapptie¢J lolal bJrn, as valued al the date of Ihe Iruslees. meeting to age the donalion5 for the year. lo incorne which for the yèar ènded 7 February 2024 amounled to £376.0. 4 lal Analysis of Fund Balances Between the Net Assets for the year ended 7 February 2024 Incorne Endowment Fund Fund Total Funds Inveslrnents Nei wrrent assels 101.000 22.799 8,604.046 8.705.046 22.799 123.799 8.604,046 8.727.845 4 Ibl Anatysls of Fund 8alances Bewn the Ntt Assets for tho year ènd¢d 7 February 2023 Unrestrlcted Endowment Funds Fund Total Funds Investments Net cuirent liabilittes 148.094 {51.7751 8.512.726 8,660,820 151.7751 96.319 8,512.726 8.609.045 10-
THE SCOULOUDI FOUNDATION OTES TO TIIE FIN,INI C-IAI. STATEIIEN'TS Creditors Income Fun Funds 2024 4.200 2.400 64.388 2023 2.700 4.800 84.046 Adfflini5tration Independent E¥aminatN)n12023." Audit) IHR 70.988 91.546 6 lal Inve$tsnent management fee- 2024 Incomè Fund Endowment Fund 2024 Total Funds Investmenl Management fee5 63,431 63,431 63,431 63.431 8 Ibl Invèstrnttnt management l••- 2023 Incom¢ Fund En41owment Fund Total Funds Investmani Management fees 31.779 31,130 62.9)9 31.779 31.130 62.909 7 (al Fund Analysl$- 2024 8alan¢e at Movements In Mov¢ments In Balance al 8 Feb 2023 in¢cme. expendlturfy. 7 Feb 2024 tran$fer¥ in & investment and tsarvJfers gains out Endovrnent FuThJ Income Fund 8.512.726 .319 530.751 376.000 1439.4311 1348.5201 8.604.046 123.799 8.609.045 906.751 1787.9511 8,727.845 Following the adoptKJn of a tolal retum approach to inveslmenls on 8 February 2022 Ihe Foundatitsn's Pem)anent En¢Jowmenl Fund becan the Foundation's Endowment Fund and th& General Fund became Ihe Income Fund. 7 Ibl. Fund Aftafysis- 2023 Movements in Movements in income and expenditure. transfers in investment 108S?8 and transf¢rs 8alancè ai out 7 Fab 2023 Balance at 8 Feb 2022 Permanent Endowmenl Fund General Fund Designated Fund 8.776.914 47.907 24,0 202.384 381.783 1466,572) 8.512.726 1333.371} 96,319 124,0001 8.848.821 584.167 1823.9431 8,609.045 11
THE SCOULOUDI FOUNDATION C)TF.S TO TIIE FIN.IIN C'lklL STATE,IIE%TS Oe¢ennial Financial Record Yèar ended 7 February 1993 1963 1973 1983 2003 2013 2024 Permanent Endowment Endowment Fund 55.186 477,385 1.156.2S¥) 3.380.405 3,909.393 5.995.385 8.604,046 Total Income Unapplied total turn transferred 1.931 12.237 70.853 193.490 217,812 223.146 376,000 Indirecl Expenditure 1531 {4741 16,1181 I42.0) 26.0861 (20,0181 {29.5201 Net Income belore donations 1.878 11.763 64,735 151.434 191,726 203,128 346,480 Donations". Historical Awards Other Donalions .ocK) 6fj.788 1,425 5.765 31.(KKJ 89,7Q) 127.500 121,500 319.000 1.425 10.765 63.0) 149.700 193,062 188.288 319,000 Curnulative total of donations 1.425 69.904 410.214 1.535.714 3.325.093 5.362,472 7.489.781 Analy¥l¥ of Char5tabl• Expèndlturg Total 2024 Totsi 2023 Donatlons: Chlldren & Youth Doorstep Library Netsvo Literacy Pirates Limrted 15,(Y)O 15.000 5.OlX) 5.000 30.000 10.000 Envlronmènt & Humanities BIG Give Brit15h RecordsAssociation CampavJn to Protect Rural Engn Fnends of the Nabonal Libraries Hislorical Association University of London, Insiilule of Hislorical Research London Record Society London Topographical Swety London Wildlife Trust Texble Con5eryation at Glasgow UnNersity Tree Council 105.000 52.500 2.0( 5.000 5.QC() 5,000 15.000 5.000 10,000 106,456 2,000 2.000 5.000 5.000 5.000 2,000 2.000 10,000 10,01)0 159.01)0 194,956 12-
THE SCOULOUDI FOUNDATION )OTF.S TO TIIE FIN,INC'IALST,ITEIIE%TS Analysi3 of Total Expenditure {eoniinuèdl Total Total 2024 2023 Oversèas Ald Vision Aclion Iformerty VisionA•J Overseas) Zane 15.(KlO 5.000 10.(K)O 5.000 25.Th)0 10.IXIO Handlcapped & Disabld Canine Partners The Vision Foundation Iforrrty Greater London Fund for the BlintJl Royal Assoaation In Aid of Deaf People Revrtaltse Respite Holidays Iforme Winged Felbw5hip Trust) 10.000 10.f#)) 5.000 s.wo 5,000 25.OLKJ 20.000 Medlcine. Hèalth & Hospices SHINE (Assothation lor Spina Bifida and Hydro¢ephalusl St. Francss Leprosy Guild Together for Shorter Lives 5.000 s.0) 5.000 20.O¢YJ 5.000 15.000 25.IXIO So¢5al W•lf•re Conneclion at Sl Martin-in-Ihe-Fiefds Fine Cell Work Professional Classes AKI Coun¢il Sl Peter & Sl James Hospice Turtle Key Arts Ag9S Weslon 5,thJO 5.000 s.000 5,000 5.OCK) 5,OCK) 15.000 15,000 50.000 30,0 Donations 319.000 289.956 Other Governance cosls-Audil Accountancy fee5 Legal Fees Sundry 2.400 25.8C(I 1.320 4,800 20.940 7.232 120 348.520 323.048 10 Tru$te•s' Rtmuneratlon. benéfits. ¢xpenses and related party transaetrons None ol the Trusteès has been paid any rernuneration Of recewed any other benefit5 trom an employment with the charity or a related entity. No trustee expenses have bèen reimbursed12023. None). There were no related party Iran5actions during Ihe year {2023." None). 13-
THE SCOULOUDI FOUNDATION 'OTES-I'O TIIL F l%i'Ai%flAL S'I',II'E,IIEYI TS 11 Prior Year Ststernent of Flnanelal Activities Pennanent Unrestricted Funds Endovlment Income Designated Fund Totsl 2023 INCOME FROM Income from In¥eslments 202.384 202.384 Total Incom• 202,384 EXPENDITURE ON Raising Fund5 31,779 31,130 62.909 Charitsble ActNities 301,592 21.456 323.048 Total Expendlture 333,371 21.456 31,130 385.957 Nel IExpendilvreVlncome before gains and losses on Investments 1333.3711 {21,4561 171.254 1183.5731 Nel1055es on Investments 156.2031 156.2031 Net IExpendi¢ureylncome 1333.3711 121.4561 115,051 1239.7761 Gross tran$f•r¥ beeen Funds: Allocalion of tolal relum olher 379.239 {379.239} {2,5441 NET MOVEMENT IN FUNOS Fund tsala5 brought fOard at 8 Febnjary 2022 48.412 124,1))01 264,1881 1239.7761 47.907 24.Ci)O 8.776,914 8.848.821 Fund balan¢e$ Car fomard al 7 Febwary 2023 96,319 ,512.726 8,609,045 AJI recognised gains and10sses are induded in Ihe slatement of financial actlties. 14-