## **Sir Francis Nethersole Summary of Information – Annual Return 2020** - Charity Number: 528717 – Sir Francis Nethersole’s School Foundation - Charity Number: 252829 – Ecclesiastical Charity of Sir Francis Nethersole Both of Charities are effectively run as one by the same trustees and the same Chairman. The aims of both charities are to provide educational and religious training and activities, for the young and elderly of Warwickshire – more specifically - Polesworth and Warton. Following the sale of the Old School at Polesworth and the letting of two of the properties in Warton in 2019, the Trustees were hoping to be conclude the reorganization of the charity scheme and be able to action new measures to support the beneficiaries of the Charities however COVID-19 affected this process and matters slowed considerably until lockdown rules eased and working practices returned to normal later in the year. When the new scheme is up and running the trust can move forward with new projects and ideas to support the local area in the specified religious and educational activities have been discussed amongst the Trustees. A planning application was submitted to apply for conversion of the redundant scout hut (school hall) in Warton into two residential dwellings and it is hoped that a positive outcome can be achieved – the application remained undetermined through 2020. Once approved and converted, the site at Warton will then be fully owned by the Trust and let out to residential, commercial and agricultural tenants with a safe return and capital value. With the rent receivable able to be reinvested or used for property repair and returns. Income to the charity is provided by the returns from the investment portfolio held in each charity’s name as well as interest on monies held in the bank – the investment managers have confirmed that the portfolios are managed on a policy that has a moderate attitude to risk. Much of the income detailed in the accounts comes from the sale of investments and rent from the Warton School House, with the payments being purchases of alternative investments. The property repair expenditure dropped significantly as there is only now one redundant building within the control of the Charity. Financially, the two charities accounts remain in a healthy position, with a strong portfolio of property investment, stocks & shares and a good bank balance. The balances boosted following the sale of The Polesworth Site in 2019. It should be noted that on the 19[th] December 2019 correspondence from Warwickshire County Council was received to advise that they believed they had a ‘claim’ against some of the proceeds of sale from the Polesworth Site, on the basis that they previously had an interest in the site. Discussions did not progress before the end of the calendar year and did not continue through 2020 – although this may have been as a result of COVID lockdown. SIR FRANCIS NETHERSOLK FOUNDATION FINANCIAL ACCOUNTS YEAR ENDED 31ST DECEMBER 2020 WRIGHT & CO CHARTERED ACCOUNTANTS 2 LONGROOD ROAD BILTON RUGBY WARWICKSHIRE CV22 7RG ACCOUNTS OF THE CHARITIES KNOWN AS SIR FRANCIS NETHERSOLE FOUNDATION, PoL￿woRTH GOVERNORS The Lord of the Manor of Polesworth's NomÈnee The Vicar of Polesworth Father P Wells Nominee of the Warwickshire County CoutKil Mr D Parxjns Nofflince of the Pol£%worth Parish CoutKil CO-OPTED GOVERNORS Mr D Butcher MTS M Willis Rev S Bank5 Mr A Jones MT5 J Bailey FOR THE YEAR &NDED 31sr DECEMBER 2020 CLERK: Mr T J Howatd Howkins & Harri$oo LLP 7-1 l Albert Street KUGB Y Warwick5hire CV218RX ACCOUNTANTS: Wright & Co Chartered Accountants 2 Longro(Kl Road Bilton RUGBY WaThvickshi CV22 7RG SIR FRANCIS NETHERSOLE FOUNDATION Pag¢ I ECCLLSIAsficAL CHAIUTY RECEIFfs & PAYMEprfs ACCOUNT FOR THE YEAR ENDED 31sr DECEMBER 2020 2020 2019 RECEIPTS Dividends Teceived Disposal of inv4stments Sundry 1246 53768 1940 21383 55014 23323 PAYMENTS CleTical a&%istan Investment managels fees Purchase of investments 1200 922 18155 871 46392 47263 20277 Excess of receipts over payments Balanee in hand at 1st January 2020 7751 7759 4713 Balance in hand at 3 1st December 2020 15510 7759 NOTE . Balan¢¢ in hand at 3 1st December 2￿20 is = c￿rrnIt account BRI A&8et Management alc 1564 6195 13046 15510 7759 SIR FRANCIS NETHERSOLE FOUNDATION Page 2 ECCLESIASTICAL CHARITY SCHEDULE OF INVESTMENTS HELD AT 31ST DECEMBER 2020 Market value at 31.12.20 Income rec'd ear Income rec'd Durin 2019 3077 Premier Defensive Growth 3240 Newton Global Higher Income Fwid 4298 Arternis Global Income Fund 2110 GLG Undervalued Assets Fund 1517 Standard Life European 4586 Kames Property Income 487 CF Miton UK Smaller 379 Royal London UK Equity Inc M 5851 Jupiter Strategic Bond Fund 2717 CF Miton Multi Cap Incorne 2180 GCP Infr&strncture Investments 39,158 Muzinich Global 522 Royal London UK Equity Inc M 4973 LF Miton Cautious Mthly Income B 4014 Liontntsi Strategic Bond M Inc 1064 LiontNst Special Sithations Class Inc 1569 Rathbone Ethical Trust 10 Personal Asse¢ Trusi 980 M & G Global Listed Intrd 5884 Jupiter ABS Return 2635 T M RWF UK Equity 7560 Liontrust Global Div'd Fund 1569 Rathbone Et￿"¢al Trust 2635 TM RWF UK Equtty 4444 BNY Melton Global 3614 VT Grnvis Listed Property 5622 Evenl(Kle Glow Income 2 Pictet Indian Equity 1233 Trojan D income 4797 Baillie Gifford High Yield BoAd 953 HSBC FfsE 250 Index 2586 LF Gresham House 21.96 89.22 202.12 10047 12.30 234.42 1.25 35.10 145.25 244.41 165.68 124.76 4906.85 48.80 198.62 28.84 165.68 61.56 3670.18 33.52 55.30 112.14 46.45 28.00 8.08 37.89 141.39 4806.35 4738.20 140.73 66.76 28.00 41.94 8_59 2292.45 4132.67 57.11 44.35 111.74 100.06 75.51 5940.52 1061.76 3519.1 6514.33 1777.35 3008.54 46368.31 1245.87 1939.71 Market value at 31 December 2019 57040.74 SIR FRANCIS NETHERSOLE FOUNDATION Pag¢ 3 SCHOOL CHARITY RECEIPTS & PAYMErrrs ACCOUNf FOR THE YEAR ENDED 31ST DECEMBER 2020 202 2019 RECEIPTS Rents: Sch(y)l Flouse, Watton Land at Warton Icrilchley) Unidentified lo8￿) 150 256 150 11206 20982 130 506786 150 17718 Divide[￿3 {page 41 Interest Disposal of investtnents Sale of propety Sundry 191638 705191 58 914755 539104 PA YMENTS Insurdnce Accountancy Inyestm￿t mana8&s fxs Rates aThl water Donation of bibles Heat & light P￿r¢kna￿ of inV￿lEn¢￿ts ittcluding tKw inv¢sttueDts tollowing sale of propety Repairs Legal & professional Polesworth Academy Support Worker (2 years) Prperty management frcs Property renovation Profr5sional re property sale a￿1 le4se 2479 1080 15270 196 818 321 597325 4913 624 7262 8579 892 1014 508353 622 9562 8307 280CKI 1336 44420 6486 618850 629tX Excess of Teceipts over payrnents 49905 295905 Balance in h#nd at 1st January 2020 316653 20748 Balance in hand 31st De¢¢mber 2020 226748 316653 NOTE: Balance in hand at 3 1st De¢¢mber 2020 is: Bank accounts BR[ account 57663 169085 45206 271447 226748 316653 SIR FRANCtS NETHERSOLE FOUNDATION SCHOOL CHARITY SCHEDULE OF IP4VEsfMEI(rs HELDAT31STDECEMBER21ll• blark¢¢ 4t 31.1220 duTi 2019 1082.72 2Y)2Q LF MitonUK Mulb C¥ 275￿ Newion fj￿baI High¢r Inc￿ 79777 Schnth Gh)t41 Equity 5425 Royal Londun UK E4ultyIllC(x￿ 10411 ArtcnllsGlobal Fund 17403 GCP Infasttucture TnYcstrn￿Is 7387 hlanGLG Undervaw As¢ts F￿ThJ 1354 CF Stnllikrcomp 14147 K8rrrt Propcrty ITKOW 26214 LXI K¢it PLC 18560 Prenuer Def¢nsi¥rGroup 20791 GCP Assel BA¢ked In¢on*FurAt 15881 LF Miton UK Mulii Cap t￿o[￿e 61516 Jupiter Akn]utt Return 537 Muanich GlobHI TactKal I 34241 LiOnt[￿$t St[￿te￿C Bund 5425 Royal I￿nd￿￿ UKEquty 82397 Jupitrr Strateyc Bond 12678 LF GKsham HOU￿ UK MKtoC41 47 Picw Indian RquMie5 34621 Rothtone Eihiral 34671 WAiehuse R¢ii 77 Pcrsohxj A55¢1TnMt 2122 LXI Reit PLC 349 BullziOTd 345 CalEthrtM Itty 630 GI&KoSnMth Klitst 2850 BP O 79¥> Prudcntial RELX Otd 625 ITnpenal Br8tsds 0[r￿p 785 Royal Duich Sh¢ll 286 D￿se0 Ord 17389 M &¢ Ok)b31 29131 ASI F4nerging Markets 22561 Waverwn Euriw•n 3212 Johrn L4ing 16164 OCtOr￿ KeneW￿b￿ 672 Smjth & N￿eW 4W Unicorn UK SDwlk¥CoThw 247 Unileyer Ord 5565 BB H￿Althcare 61263 BTrfi k1elionGlo￿] IDcvn l(K>49 Melro5e Indu*riesOrd 9491 rrv Ordonary 7581 Equiniti CJro4>Pk 960 Compass Gr0￿p(￿d 4Q3 Whitbr¢ad Ord 31427 Are*nu5 Cor￿)Ir0* knd Futsd 2(H75 S¢hrd¢r Asian Z 22280 Ishares 1193 Pb(*DiX Gro4) 3740 Grnin8cr Otd 468532 TB EvcAI(th Gh)PAI tllCOrnEC 48980 L￿n¢[USt Glthal Filld M 13808 Urban Lo8i51KS RE 30CW) TP ICAP ord )8 Close Brothtts Gt04 5470 Tn)Jan O tncln 27193 BaillitGiffotd Fligh Yiekj 46804 BAillieGifford ReSpth￿1b]E Gk> 1449 TM RWC UK 13J58 Lloy(15 Bank Gtoup 4J25 Ballour B¢dti 1722 ViStyGrOup 701J9 1378.45 1359.74 I1￿27 1029. 1029.80 1730.74 3.49 635.35 19.48 99AVJ 1335.82 I￿3.25 840.03 1519.03 772.75 574_08 1239.52 67.10 31.194.66 1345.40 18,98111 1341.02 89.76 37,L￿} 1441.44 24JJ 24.951J6 57￿27.16 41.(￿.20 386.13 241.52 103. 160.08 945.18 215.60 0,526.07 9.936. .454.60 7.261.*) 10,641. 8,281.35 9,596. 9J86.29 8231. 21.176.J2 284.72 22424 769.26 197.51 273.29 11fy).68 463JO 24&( 642.95 536.sl Sl8.91 3flS.43 167.93 10.663.64 18.614n5 10.147.20 199.79 10.848.24 9.877.88 61.912J9 17.89224 10.136J9 .369.42 13WfjO 12.49J. 358.SY) 274.08 1257.46 407.35 780.40 389.89 44221 722.12 8,358.16 S8.1￿3.68 67226.18 19.745.44 7.146.(Ml l2.548.56 844.52 489.99 2O1A53 36320 36,928.lYJ 62,296.12 12(A).63 6,689.66 11,686.15 194J72.21 4S.723.30 20971.L 17.697.92 19%7 17.717.79 CQIF tllc¢xtEShaTES 2¢Y)82.25 Mark¢t v4lu¢at 31 t￿￿￿2019 f889.046.50 LAnd at WI￿n￿lI Fwn4Wart s¢￿j1 Mut Prernisc4 Wartr Wartots Sckn)l Nurgry thlchky V*ani SIR FBAPICIS NETHERSOLE FOUNDATION Page 5 Accouf4TANTS REPORT FOR THE YEAR ENDED 31sr DECEMBER 2020 In accordance with OUT engagement letter we have compiled the finan¢ia] inftiThiation of The Francis Neihe¥sole Foundation which comprises Receipts & Payment Accouots fro the accounting records and from infoTmalion and explanations you have given to us. The financiAI information i5 not intended to xhicvc fjjll con¥11a￿e with the provisio￿8 of UK Generally A¢¢epted Accounting Principles. This report is made to you in accordance with the tern￿ of our engagenwiL Our Work has been widertaken so that we might compile the finwial information that we have iten engaged 10 cotnpile, report to you thai we have done so. and state those mattets that we have.agra to slate to you in this report and for no other pu￿05¢. To the fvllest extent pennitted by law, we do not accept or assume responsibility to anyone oth¢1 than The Francis Nethersole Fowthtio for our work. or for this rewjrt. We have carried out this engagement in aCCOTdance with the techni¢al guidallce issued by the Institute of Chartered Accountants tn England and Wales and have compli￿1 with the etbi¢al guidance laid down by the Institute. You have approved the financial Inforn￿tion for the period stated at*)ve and have acknowledged your resw)nsibilty for it. for the appropriateTLe&s of the accounting basi5 and for providing all infornmtion aryl explanations [￿esSIry for its compilation. We have not verified the 8¢¢uYa¢y or completer￿SS of the a¢o)Ulliing rKords or inforn￿ll0n and explanations you have given to LL8 a￿1 we do not. therefor4 express any opinion on th¢ fjnancial infornTralion. right & Co Chartered Accountants 2 Longrood Road Bilton RUGBY Warwickshire CV22 7RG i¥ October 21y21 SIR FIL4NCIS NETHERSOLE FOUNDATION a8e5 ACCOUNTANTS REPORT FOR THE YEAR ENDED 31ST DECEMBER 2020 In a¢¢ordan¢e with OUT engagetnenl letter we have ¢otELpiled the finallcial infonnatiott of The Francis Nethersole Foundation which comprises Receipts & Payment Accounts from the accounting records and from information and explanations you have given to us. The financial infornjation is not intended to achieve full compliance with the piovi5iOtL4 01 UK Gellerally Accepted A¢¢ounting Principles. This report is made to you in accord8n¢e wEth the tern￿ of our engagement. Our work has been undertaken so that we might compile the fJnan¢ial inftstmation that we have been engaged to compile, report 19 you that we have done 50, and state those matters that we have-Egreed to %tate to yoij in this report and for no other PUTpose. To the fullest exte￿1 perniittcd by law. we do not accept or asswne responsibility to anyone other than The FTancis Nethersole Foundation. for our work, or for this report. We have carried out this engagemertt In arcordance with the technical guidance issued by the Institute of Chartered Accountants in England atld Wales and have complied with the ¢ihical ¥uidance laid down by the Insiltuie. You have approved the financial infomiation for the period slated above and have ocknowledged youi responsibilty for it, for the appiopTiateness of the accounting basis and for ptoviditlg all infortnation and ¢xplanatlOll5 necessary for it's ¢ompilaiion. We have not verified the accuFacy or completeness of the accounting records or infomation and explanakn"tsn5 you have given to us and we do not, ther¢fore, express any opinion on the financial information. right & Co charte￿ Ac¢outLtants 2 Longrood Road Bilton RUGBY Warwi¢kshire CV22 7RG i< October 2021