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2022-12-31-accounts

Reports
Referenceandadministrativedetailsof
thecharity,itspatrons,trustees
andadvisers 1
Reportofthetrustees 4
Independentauditor'sreport 11

Accounts
Statementoffinancialactivities 15
Comparativestatementoffinancial
activities 16
Balancesheet 17
Statementofcashflows 18
Principalaccountingpolicies 19
Notestotheaccounts 24

Patrons HMAmbassadortoWashington
TheDukeofBuccleuch&QueensberryKT,KBE,
CVO,DL,FSA,FRSE,FRSGS
DrThomasPCampbell
ProfessorSirDavidCannadineFBA,FRSL,FSA
SirTimothyClifford
TheLordCrathorneKCVO,KSTJ,FRSA,FSA
TheMarquessofCholmondeleyKCVO,DL
TheDukeofDevonshireKCVO,CBE,DL
JudithGoodisonFSA
TheMarquisofLansdowneLVO,DL
RosemaryLomax-Simpson
SirJonathanMarsdenKCVO,FSA
SirHughRobertsGCVO,FSA
TheLordRothschildOM,GBE,CVO,FBA
TheRt.Hon.theLordSwireKCMG,PC
HonoraryPresident SirJohnLewisOBE
Trustees TimothyCookeOBE
DianaBerry
SirRobertHildyard
SarahMedlam
AdrianSassoon
DameRosalindSavillDBE,FSA,FBA
CouncilMembers BethCarverWees
ErrolClark
DrBenCowellFSA
HelenDoreyMBE,FSA
TimKnoxFSA
RebeccaLyons
DrMartinPostleFSA
JamesRothwellFSA

hetrusteeswhoservedduringtheyear wereasfollows:
Name
TimothyCookeOBE(Chairman)
DianaBerry
SirRobertHildyard
SirJohnLewisOBE (resigned31May2022)
SarahMedlam
AdrianSassoon (appointed31May2022)
DameRosalindSavillDBE,FSA,FBA

31 May 2023

29 June 2023

Un-
restricted Restricted Endowment 2022 2021
funds funds funds Total Total
Notes £ £ £ £ £
Incomefrom:
Donations 1 16,856 38,254 55,110 58,963
Investmentsandinterestreceivable 2 30,409 20,642 - 51,051 46,955
Charitableactivities
.Coursefees 3 462,635 - 462,635
Conferencefees 14,257 - 14,257
Othermiscellaneoussources 12,616 - - 12,616 2,010
Totalincome 536,773 58,896 595,669 107,928
Expenditureon:
Raisingfunds
.Investmentmanagerfees 351 - - 351 210
Charitableactivities
.Coursestostudyselectedhistoric
housesandcollections 4 479,085 89,630 - 568,715 140,758
.Conferenceexpenditure 16,597 - - 16,597
.AttinghamSociety 10,099 129 - 10,228 7,794
Totalexpenditure 506,132 89,759 595,891 148,762
Netincome(expenditure)fortheyear
beforenetinvestment(losses)gains 30,641 (30,863) (222) (40,834)
Netinvestment(losses)gains 10 (101,357) (41,780) (143,137) 296,271
Net(expenditure)incomebefore
transfers (70,716) (30,863) (41,780) (143,359) 255,437
Transfersbetweenfunds 15
Net(expenditure)incomeandnet
movementinfunds 7 (70,716) (30,863) (41,780) (143,359) 255,437
Reconciliationoffunds:
Fundbalancesbroughtforwardat1
January2021 2,395,555 759,690 228,597 3,383,842 3,128,405
Fundbalancescarriedforwardat31
December2022 2,324,839 728,827 186,817 3,240,483 3,383,842

Un-
restricted Restricted Endowment
2021
funds funds funds
Total
Notes
£
£ £
£
Incomefrom:
Donations 21,071 37,892 - 58,963
Investmentsandinterestreceivable 27,768 19,187 - 46,955
Othermiscellaneoussources - 2,010 - 2,010
Totalincome 48,839 59,089 107,928
Expenditureon:
Raisingfunds
.Investmentmanagerfees 210 210
Charitableactivities
.Coursestostudyselectedhistoric
housesandcollections 140,758 - 140,758
.AttinghamSociety 2,153 5,641 7,794
Totalexpenditure 143,121 5,641 148,762
Net(expenditure)incomefortheyearbefore
netinvestmentgains (94,282) 53,448 - (40,834)
Netinvestmentgains 288,360 7,911 296,271
Netincomebeforetransfers 194,078 53,448 7,911 255,437
Transfersbetweenfunds 7,500 (7,500)
Netincomeandnetmovementinfunds 201,578 45,948 7,911 255,437
Reconciliationoffunds:
Fundbalancesbroughtforwardat
1January2021 2,193,977 713,742 220,686 3,128,405
Fundbalancescarriedforwardat
31December2021 2,395,555 759,690 228,597 3,383,842

31 May 2023

2022 2021
Total Total
Notes £ £
Cashflowsfromoperatingactivities:
Netcash(usedin)providedbyoperatingactivities A (95,527) 232,415
Cashflowsfrominvestingactivities:
Investmentincomeandinterestreceived 51,051 46,955
Purchaseofinvestments (174,843)
Proceedsfromsaleofinvestments 328 77
Netcashprovidedby(usedin)investingactivities 51,379 (127,811)
Changeincashandcashequivalentsintheyear (44,148) 104,604
Cashandcashequivalentsat1January2022 270,578 165,974
Cashandcashequivalentsat31December2022 B 226,430 270,578
Notestothestatementofcashflowsfortheyearto31December2022
2022 2021
Total Total
£ £
Netmovementinfunds(asperthestatementoffinancialactivities) (143,359) 255,437
Adjustmentsfor:
Losses(gains)oninvestments 143,137 (296,271)
Investmentincomeandinterestreceivable (51,051) (46,955)
Decreaseindebtors 27,555 271,551
(Decrease)increaseincreditors (71,809) 48,653
Netcash(usedin)providedbyoperatingactivities (95,527) 232,415
B. Analysisofcashandcashequivalents
2022 2021
£ £
Cashatbankandinhand 226,429 270,554
Cashheldbyinvestmentmanagers 1 24
Totalcashandcashequivalents 226,430 270,578

ncomefrom:Donations
Unrestricted Restricted Endowment 2022
funds funds
funds
Total
£ £ £ £
Sansovino 5,000 - 5,000
TheLecheTrust 5,000 5,000
70thAnniversaryScholarshipFund 5,563 - 5,563
Others 16,856 22,691
-
39,547
16,856 38,254 55,110
Unrestricted Restricted Endowment 2021
funds funds funds Total
£ £ £ £
Sansovino 5,000 5,000
TheLecheTrust - 5,000 - 5,000
TheMichaelBishopFoundation 7,500 - - 7,500
TheSirGeoffreydeBellaigueScholarship
FundMemorialFund 3,000 - 3,000
70thAnniversaryScholarshipFund 12,500 - 12,500
Others 13,571 12,392 - 25,963
21,071 37,892 - 58,963

Unrestricted Restricted Endowment 2022
funds funds funds Total
£ £ £ £
Incomefromlistedinvestments 30,063 20,642 - 50,705
Bankinterest 346 - 346
30,409 20,642 - 51,051
Unrestricted Restricted Endowment 2021
funds funds funds Total
£ £ £ £
Incomefromlistedinvestments 27,034 19,187 - 46,221
Bankinterest 734 - - 734
27,768 19,187 - 46,955

Incomefrom:Coursefees
2022 2021
£ £
SummerSchool 166,467
StudyProgramme 109,697
RoyalCollectionStudies 78,256
FromCollegeLibrarytoCountryHouse 43,478
TheNorfolkCountryHouseCourse 49,436
FrenchEighteenth-CenturyStudies 15,301
Totalfunds 462,635 -

Unrestricted Restricted Endowment 2022
funds funds funds Total
£ £ £ £
DirectCosts
Lecturers'feesandexpenses 8,769 1,641
-
10,410
Officers'feesandexpenses 105,622 19,761 125,383
Accommodationandmeals 184,718 34,558 219,276
Transport 21,500 4,022 25,522
Entrancecharges 30,293 5,667 35,960
Marketing,printing,postage,
telephoneandstationery 4,965 929 - 5,894
Miscellaneousexpenses 26,241 4,909 31,150
382,108 71,487 - 453,595
Supportcosts(note5) 96,977 18,143 - 115,120
479,085 89,630 568,715
Unrestricted Restricted Endowment 2021
funds funds funds Total
£ £ £ £
DirectCosts
Officers'feesandexpenses 49,445 49,445
Marketing,printing,postage,
telephoneandstationery 741 741
Miscellaneousexpenses 785 - - 785
50,971 - 50,971
Supportcosts(note5) 89,787 - - 89,787
140,758 - 140,758
French From
Study Royal Eighteenth College theNorfolk
Summer Programm Collection
Century
Libraryto
Country
Total
School e Studies
Studies
Country
House
2022
£ £ £ £ House£
Course
£
Lecturers'feesand
expenses 5,348 1,223 1,285
1,373
685
496
10,410
Officers'feesand
expenses 39,829 31,441 16,955 9,059 14,418 13,681 125,383
Accommodationand
meals 105,147 30,244 59,377 288 13,166
11,054
219,276
Transport 9,510 6,622 6,081
501
1,245
1,563
25,522
Entrancecharges 16,967 6,206 2,951 - 2,300
7,536
35,960
Marketing,printing,
postage,telephoneand
stationery 1,928 1,377 1,206 182 791
410
5,894
Miscellaneous
expenses 11,767 4,722 12,284 351 1,237 789 31,150
190,496 81,835 100,139 11,754 33,842 35,529 453,595

(continued)
French
Royal Eighteenth
Summer Study Collection Century Total
School Programme Studies Studies 2021
£
£
Officers'feesandexpenses 19,612 18,533 8,294 3,006 49,445
Marketing,printing,postage,
telephoneandstationery 69 465 207 741
Miscellaneousexpenses 605 13 84 83 785
20,286 19,011 8,585 3,089 50,971

Course Attingham Total
expenditure Society 2022 Basisof
£
£
£ apportionment
Publicity,publications,website
developmentandmaintenance 2,182 45 2,227 Prorataexpenditure
Printing,postage,books,
stationery,andofficesupplies 2,302 47 2,349 Prorataexpenditure
Fees(includingstaffcosts) 82,093 1,675 83,768 Prorataexpenditure
Bankcharges 636 13 649 Prorataexpenditure
Othersupportcosts 17,473 357 17,830 Prorataexpenditure
Governancecosts(note6) 10,434 213 10,647 Prorataexpenditure
Foreignexchangelosses - - - Prorataexpenditure
115,120 2,350 117,470
Course Attingham Total
expenditure Society 2021
Basisof
£
apportionment
Publicity,publications,website
developmentandmaintenance 4,701 96 4,797 Prorataexpenditure
Printing,postage,books,
stationery,andofficesupplies 1,886 38 1,924 Prorataexpenditure
Fees(includingstaffcosts) 56,927 1,162 58,089 Prorataexpenditure
Bankcharges 692 14 706 Prorataexpenditure
Othersupportcosts 11,381 233 11,614 Prorataexpenditure
Governancecosts(note6) 9,467 193 9,660 Prorataexpenditure
Foreignexchangelosses 4,733 97 4,830 Prorataexpenditure
89,787 1,833 91,620

Governancecosts
2022 2021
£
Professionalfees 10,497 8,064
Annualreportandmeetingexpenses 150 1,596
Totalfunds 10,647 9,660

Net(expenditure)incomeandnetmovementinfunds
Thisisstatedaftercharging(crediting):
2022 2021
Total Total
£ £
Staffcosts(note8) 11,268 11,144
Exchangelosses 7,068
Auditor'sremuneration(includingVAT)
.Statutoryauditfees
..Currentperiod 9,000 7,000
..Previousperiod 296 44
Staffcostsandkeymanagementpersonnel
2022 2021
Total Total
£ £
Wagesandsalaries 11,121 11,000
Pensioncontribution 147 144
11,268 11,144

Investments
2022 2021
£ £
Listedinvestments
Fair(market)valueat1January2022 3,160,306 2,689,269
Additions 174,843
Disposals(seebelow) (358) (74)
Unrealised(losses)gainsonrevaluation (143,107) 296,268
Fair(market)valueat31December2022 3,016,841 3,160,306
Cashheldbyinvestmentmanagers 1 24
3,016,842 3,160,330
Costoflistedinvestmentsat31December2022 1,465,335 1,465,668
Disposalsatbookvalueincludedabovearemadeupofthefollowing:
2022 2021
£ £
Proceeds 328 77
Losses(gains) 30 (3)
Disposalsatbookvalue 358 74
Listedinvestmentsheldat31December 2022comprised:
Percentage
Market of
value portfolio
£
UKcommoninvestmentfunds
.CharitiesUKBondFundA,IncomeUnits 338,659 11.23
.CharitiesUKEquityFundA,AccumulationUnits 1,954,335 64.78
.M&GCharifund,EquitiesInvestmentFundforCharities,IncomeUnits 556,917 18.46
.RathbonesUnitTrustManagement 166,931 5.53
3,016,842 100

Debtors
2022 2021
£ £
Prepaymentsforcourses 17,385 44,316
Otherprepayments 10,871 9,841
Accruedfeeincome 500 90
Otherdebtors 3,678 5,742
32,434 59,989

Creditors:amountsfallingduewithinoneperiod
2021 2020
£ £
Accrualsanddeferredincome 20,360 100,015
Expenseandsundrycreditors 14,862 7,016
35,222 107,031
Deferredincomeat1January2022 92,562 47,867
Releasedduringtheyear (92,562) (200)
Resourcesdeferredintheyear 86 44,895
DeferredIncomeat31December2022 86 92,562

At1 At31
January Investment December
2022 Income losses Transfers 2022
£ £ £ £ £
TheSimonSainsbury
EndowmentFund 177,900 (20,917) 156,983
TheSansovinoFund 50,697 - (20,863) - 29,834
228,597 - (41,780) - 186,817
At1 At31
January
2021
Income Investment
gains
Transfers December
2021
£ £ £ £ £
TheSimonSainsbury
EndowmentFund 170,890 7,010 - 177,900
TheSansovinoFund 49,796 901 - 50,697
220,686 - 7,911 - 228,597

At1 At31
January December
2022 Income Expenditure Transfers
2022
£ £ £ £ £
JohnCornforthMemorialFund 97,693 1,439 (2,150) 96,982
PeterandWilhelminaMinetScholarshipFund 88,256 1,300 (2,580) 86,976
TheMonumentTrustFund 304,586 4,486 (23,695) 285,377
EsmeeFairbairnFund 3 (3)
-
JPaulGettyJuniorCharitableTrustFund 21,258 313 (2,150) 19,421
SimonSainsburyFund 71,206 10,503 (5,590) - 76,119
TheSirGeoffreydeBellaigueScholarFund 15,337 226 (2,787) - 12,775
TheBasilSamuelCharitableTrustFund 5,442 80 (4,574) 948
TheMichaelBishopFoundationFund 1,632 24 (1,716) 60
TheCarolineRimellFund 6,451 95 (1,775) - 4,771
TheGilesWaterfieldMemorialFund 78,365 1,154 - - 79,519
TheLecheTrust 10,073 5,148 (2,440) 12,781
TheAttinghamSocietyReunionFund 8,113 119 (129) - 8,103
The70th AnniversaryScholarshipFund 12,500 5,747 (6,509) - 11,738
Otherfunds 38,775 28,262 (33,661) (60) 33,316
759,690 58,896 (89,759) - 728,827
At1 At31
January December
2021 Income Expenditure Transfers 2021
£ £ £ £ £
JohnCornforthMemorialFund 96,285 1,408 97,693
PeterandWilhelminaMinetScholarshipFund 86,984 1,272 - 88,256
TheMonumentTrustFund 300,195 4,391 - 304,586
JPaulGettyJuniorCharitableTrustFund 20,952 306 21,258
SimonSainsburyFund 61,558 9,648 - - 71,206
TheSirGeoffreydeBellaigueScholarFund 12,159 3,178 - - 15,337
TheBasilSamuelCharitableTrustFund 5,364 78 - - 5,442
TheMichaelBishopFoundationFund 9,000 132 - (7,500) 1,632
TheCarolineRimellFund 6,358 93 - 6,451
TheGilesWaterfieldMemorialFund 77,235 1,130 - 78,365
TheLecheTrust 5,000 5,073 - 10,073
TheAttinghamSocietyReunionFund 11,575 2,179 (5,641) - 8,113
The70thAnniversaryScholarshipFund 12,500 - - 12,500
Otherfunds 21,077 17,701 - - 38,778
713,742 59,089 (5,641) (7,500) 759,690

At1 At31
January
New
Utilisedor December
2022 designations released 2022
£
£

£
£
AttinghamSocietyFund 13,535
12,266
(6,645) 19,156
Generalreserve 2,041,348
520,527
(596,864) 1,965,011
Directortraining 13,292
-
- 13,292
TheGilesWaterfieldMemorialFund 77,380
-
- 77,380
2,145,555
532,793
(603,509) 2,074,839
At1 At31
January
New
Utilisedor December
2021 designations released 2021
£
£
£ £
AttinghamSocietyFund 3,455
12,233
(2,153) 13,535
Generalreserve 1,849,850
332,465
(140,967) 2,041,348
Directortraining 13,292
-
13,292
TheGilesWaterfieldMemorialFund 77,380
-
- 77,380
1,943,977
344,698
(143,120) 2,145,555

Totalfunds
General Designated Restricted Endowment 31December
fund funds funds fund 2022
£
£

£

£
£
Investments 66,296 2,034,902 728,827 186,817 3,016,842
Netcurrentassets 183,704 39,937 - - 223,641
250,000 2,074,839 728,827 186,817 3,240,483
Totalfunds
General Designated Restricted Endowment 31December
fund funds funds fund 2021
£
£
£
£
£
Investments 66,296 2,105,747 759,690 228,597 3,160,330
Netcurrentassets 183,704 39,808 223,512
250,000 2,145,555 759,690 228,597 3,383,842
2022
2021
£
£
Totalunrealisedgainsincludedabove:
Oninvestments 1,551,506
1,694,638
Reconciliationofmovementsinunrealisedgains
Unrealisedgainsat1January2022 1,694,638
1,398,370
Inrespecttodisposalsintheyear (25)
Net(losses)gainsarising onrevaluation (143,107)
296,268
Unrealisedgainsat31December2022 1,551,506
1,694,638