## 

|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|<br>2021|
|||funds|funds|funds|<br>Total|
||Notes|<br>£|£|£|<br>£|
|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|<br>funds|Total|
||£|£|£|£|
|Sansovino||5,000|-|5,000|
|TheLecheTrust|—|5,000||5,000|
|70thAnniversaryScholarshipFund|—|5,563|-|5,563|
|Others|16,856|22,691|<br>-|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|<br>-|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|<br>Century|Libraryto|<br>Country|Total|
||School|e|Studies|<br>Studies|Country|<br>House|2022|
||£|£|£|£|House£|<br>Course|£|
|Lecturers'feesand||||||||
|expenses|5,348|1,223|1,285|<br>1,373|685|<br>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|<br>11,054|219,276|
|Transport|9,510|6,622|6,081|<br>501|1,245|<br>1,563|25,522|
|Entrancecharges|16,967|6,206|2,951|-|2,300|<br>7,536|35,960|
|Marketing,printing,||||||||
|postage,telephoneand||||||||
|stationery|1,928|1,377|1,206|182|791|<br>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|
||`£`|<br>`£`||||
|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|
||`£`|<br>`£`|£|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|<br>Basisof|
||||£|<br>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<br>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<br>2021|Income|Investment<br>gains|Transfers|December<br>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|<br>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)|—|<br>-|
|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|<br>New|Utilisedor|December|
||2022|designations|released|2022|
||`£`|<br>`£`|<br>`£`|`£`|
|AttinghamSocietyFund|13,535|<br>12,266|(6,645)|19,156|
|Generalreserve|2,041,348|<br>520,527|(596,864)|1,965,011|
|Directortraining|13,292|<br>-|-|13,292|
|TheGilesWaterfieldMemorialFund|77,380|<br>-|-|77,380|
||2,145,555|<br>532,793|(603,509)|2,074,839|
||At1|||At31|
||January|<br>New|Utilisedor|December|
||2021|designations|released|2021|
||`£`|<br>`£`|`£`|`£`|
|AttinghamSocietyFund|3,455|<br>12,233|(2,153)|13,535|
|Generalreserve|1,849,850|<br>332,465|(140,967)|2,041,348|
|Directortraining|13,292|<br>-||13,292|
|TheGilesWaterfieldMemorialFund|77,380|<br>-|-|77,380|
||1,943,977|<br>344,698|(143,120)|2,145,555|





## 

## 

## 

||||||Totalfunds|
|---|---|---|---|---|---|
||General|Designated|Restricted|Endowment|31December|
||fund|funds|funds|fund|2022|
||`£`|<br>`£`|<br>`£`|<br>`£`|`£`|
|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|
||`£`|<br>`£`|`£`|<br>`£`|`£`|
|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|<br>2021|
|||||`£`|<br>`£`|
|Totalunrealisedgainsincludedabove:||||||
|Oninvestments||||1,551,506|<br>1,694,638|
|Reconciliationofmovementsinunrealisedgains||||||
|Unrealisedgainsat1January2022||||1,694,638|<br>1,398,370|
|Inrespecttodisposalsintheyear||||(25)||
|Net(losses)gainsarising|onrevaluation|||(143,107)|<br>296,268|
|Unrealisedgainsat31December2022||||1,551,506|<br>1,694,638|