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2021-12-31-accounts

Page
President's statement
Trustees' report 2-7
Statement oftrustee responsibilities
Investment managers report
Independent
auditor's		 report 10-12
Statement offinancial activities 13
Balance sheet 14
Notes to the accounts 15-31

The trustees present the ir report and report and report and financial financial statements
for		 statements
for		 the year ended 31 D the year ended 31 D the year ended 31 D ecember 20 ecember 20 21.
The financial
statements		 have been prepared in accordance with the accounting policies set out in note 1 to
the financial
statements		 and comply with the charity's trust deed, the Charities Act 2011 and "Accounting and
Reporting
by Charities:
in accordance
with the		 Statement
Financial		 of Recommended
Reporting
Standard		 Practice applicable
to charities
preparing
their accounts
applicable
in the UK and Republic of Ireland (FRS 102)
(effective
1 January 2019)"
The Committee
The rules of the Association provide for a Committee to manage
the		 day to day affairs of the charity. The
Superior and the Headmaster of Stonyhurst College are ex-officio members ofthe Committee.
The members
who served		 during the period were as follows;
Trustee members ofthe Committee
A N Macfarlane
L Crouch
FT Holt
GJ Lagerberg -Treasurer (Appointed 23April 2021)
Non-Trustee
members		 ofthe Committee
J Browne - Headmaster
Father TCurtis SJ -Jesuit Superior
D Hartley - President (Appointed 23April 2021)
T Livesey - President (Resigned as President 23 April 2021)
J Macfarlane
- President-Elect		 (Appointed 27 June 2021)
BRoche- Chairman (Appointed as Chairman 23April 2021)
SAndrews - Chairman (Resigned as Chairman 23April 2021)
D Hurst - Secretary
D Ridout- College Representative
J Burns
EWotton
M Hurst (Resigned 23April 2021)
R Mellows
Fr BCallaghan
R Hargreaves
LVorreiter
L Pryor
RWotton
Father
N King SJ		 (Resigned 23April 2021)
G Cohen (Resigned 23April 2021)
J Ribet
SWithnell

Unrestricted Restricted Endowment Total Total
funds funds funds
2021 2021 2021 2021 2020
Notes 6 6
~ln
tgafmttt.
Donations and legacies		 61,948 61,948 56,579
Charitable
activities		 95
Other trading activities
Investments		 6,175
35,839		 15,636 6,175
51,475		 6,363
46,630
Total income 103,962 15,636 119,598 109,667
KKQQttd)tttlkQ
0 '
Raising funds		 6 8,167 1,926 10,093 14,767
Charitable
activities		 7 113,239 9,366 122,605 127,003
Total resources expended 121,406 11,292 132,698 141,770
Net (losses)/gains on investments 13 83,077 18,011 20,786 121,874 (66,732)
Net movement
in		 funds 65,633 22,355 20,786 108,774 (98,835)
Fund balances at 1 January 2021 852,819 270,631 239,333 1,362,783 1,461,618
Fund balances at
2021		 31 December 918,452 292,986 260,119 1,471,557 1,362,783

2021 2020
Notes 6
Fixed assets
Intangible assets
Investments		 15
16		 1,806
1,493,436		 2,168
1,379,520
1,495,242 1,381,688
Current assets
Stocks 18 13,487 15,735
Debtors 19 55,661 30,424
Cash at bank and in hand 133,513 87,666
202,661 133,825
Creditors: amounts falling due within
one year 21 (226,346) (152,730)
Net current
liabilities		 (23,685) (18,905)
Total assets less current liabilities 1,471,557 1,362,783
Capital funds
Endowment
funds		 - general 22 260,119 239,333
Income funds
Restricted
funds		 23 292,986 270,631
Unrestricted
funds:
Designated
funds
General unrestricted		 funds 24 42,706
875,746		 38,712
814,107
918,452 852,819
Pd
t
t tt		 t pp ddptd t t,.E/. 1,471,557
.%k		 1,362,783

Donations and legac ies
Unrestricted Unrestricted
funds funds
2021 2020
E
Donations and gifts 17,948 9,579
Membership fees 44,000 47,000
61,948 56,579
Donations and gifts
General donations 15,160 5,000
Stonyhurst Pilgrimage Trust 1,070 1,070
Government grants 1,717 3,509
Other 1
17,948 9,579

Unrestricted Unrestricted
funds funds
2021 2020
E E
Functions 95

Other trading activities
Unrestricted Unrestricted
funds funds
2021 2020
F
Sales ofties and prayer books 6,175 6,363

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
6 6 F
Income from listed
investments 29,288 15,636 44,924 26,421 14,060 40,481
Income from unlisted
investments 6,464 6,464 5,897 5,897
Interest receivable 87 87 252 252
35,839 15,636 51,475 32,570 14,060 46,630
Raising funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
6 6 F F
Purchase ofties,
cufflinks, books etc		 4,581 4,581 5,245 5,245
Investment
fees		 management 3,586 1,926 5,512 6,129 3,393 9,522
8,167 1,926 10,093 11,374 3,393 14,767

Charitable
 activities
2021 2020
6 6
Functions 1,184 1,643
Governance and support costs (see note 9) 62,840 63,686
64,024 65,329
Grants payable (see note 8) 42,871 45,753
Governance and support costs (see note 9) 15,710 15,921
122,605 127,003

2021 2020
E E
Grants to institutions:
Robert Persons
Fellowship		 6,666 3,333
Stonyhurst
Stonyhurst
Stonyhurst		 College -
College -
College -		 Scholarships
Prizes
Modern Languages		 30,000
1,500
2,660		 30,000
1,500
2,387
Stonyhurst College - War Requiem Mass 75 75
Stonyhurst College - Other 1,500
Stonyhurst Pilgrimage Trust 1,000 1,188
41,901 39,983
Grants to individuals (1 grants) 970 5,770
42,871 45,753

9 Allocation ofsupp ort a nd governance costs
2021 2020
Supportcosts:
Staff costs		 33,182 33,332
Depreciation 362 389
Exchange Losses 10
Telephone 74
Office 8 newsletter costs 23,948 26,467
Sundry 505 874
Bank charges 354 332
Website 6,479 7,001
Governanace costs:
Audit fees (note 10) 5,640 8,000
Accountancy 5,280 3,130
Legalfees 2,800
78,550 79,609
Allocated as follows:
Charitable
activities
Functions 80'%%d 62,840 63,686
Grants payable 200%%d 15,710 15,921
78,550 79,607
10 Auditor's
remuneration
The analysis of auditor's remuneration isas follows:
2021 2020
E 6
Audit ofthe annual accounts 5,640 8,000
All other non-audit services 5,280 3,130
10,920 11,130

2021 2020
Number Number
Administrative staff
Employment costs 2021 2020
E 6
Wages and salaries
Social security costs		 28,854
4,328		 28,984
4,348
33,182 33,332

Net (losses )/gains on investments
Unrestricted Restricted Endowment Total Total
funds funds funds 2021 2020
f
Net (losses)/gains on investments 79,107 18,032 19,973 117,112 (46,861)
Gain/(loss) on sale of investments 3,970 (21) 813 4,762 (19,871)
83,077 18,011 20,786 121,874 (66,732)
Forthe year ended 31
December 2020		 (43,523) (11,296) (11,913) (66,732)

Intangible
fixed asse		 ts
Website costs
Cost
At 1 January 2021 and 31 December 2021 3,616
Amortisation
and impairment
At 1 January 2021 1,448
Amortisation
charged		 for the year 362
At 31 December 2021 1,810
Carrying
amount
At 31 December 2021		 1,806
At 31 December 2020 2,168

Fixed asset investments
Listed Unlisted Cash in Total
investments investments porffolio
6 6
Cost or valuation
At 31 December 2021 1,342,642 13,239 23,639 1,379,520
Additions 1,297,996 1,297,996
Valuation changes 117,112 117,112
Increase
in cash held as part ofthe portfolio		 41,651 41,651
Disposals (1,342,843) (1,342,843)
At 31 December 2021 1,414,907 13,239 65,290 1,493,436
Carrying
amount
At 31 December 2021		 1,414,907 13,239 65,290 1,493,436
At 31 December 2020 1,342,642 13,239 23,639 1,379,520

Financial instruments 2021 2020
F 6
Carrying
amount offinancial assets
Investments
measured
at fair value through		 income and expenditure 1,412,043 1,320,051

Stocks
2021 2020
8 8
Finished goods and goods for resale 13,487 15,735
Debtors
2021 2020
Amounts falling due within one year: 8 6
Trade debtors 26 851
Other debtors 55,635 29,573
55,661 30,424

2021 2020
F F
Other creditors 751 751
Accruals and deferred income 225,595 151,979
226,346 152,730
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The remun eration
of key management
personnel
is as		 follows.
2021 2020
E
Aggregate compensation 17,121 17,308