St John's Hospital Educational Foundation
Report and Financial Statements
For the Year Ended 31 December 2023
Registered Charity No: 306676

St John's Hospital Educational Foundation
Year Ended 31 December 2023
Contents
Page
Report of the Governors
Statement of Governors, responsibilities
Report of the independent examiner
Statement of financial activities (SOFA)
Balance sheet
10
Notes forming part of the financial statements
11 21

Page 1
St John's Hospital Educational Foundation
Report of the Governors for the year ended 31 December 2023
The Governors present their Report and Accounts for the year ended 31 December 2023. They are
satisfied that the Accounts comply with the Constitution as described below and the recommendations of
the Statement of Recommended Practice
Accounting and Reporting by Charities and comply with
applicable law.
Objectives and Activities
Objects
The objects of the Foundation are to apply the net income as follows.
General Fund
Fixed annual payments
1. £32 for maintenance of lectures in Exeter College, Oxford. (Payment founded by Sir John Maynard,
1637).
2. £10 to the Trustees of Eliza Hele's Charity, Moretonhampstead. (Payment founded 1658). This
charity ceased to exist during 2008 and the annual payment has lapsed.
3. £400 to the Trustees of Hele's School (now Hele's Educational Trust)
4. £400 - £600 to the Orphan Fund
Residue
1. Three-sevenths to the Governors of Exeter School
2. Two-sevenths to the Governors of Maynard School
3. One-seventh to any one or both of the Governing Bodies of Exeter School and Maynard School at
the discretion of the Governors
4. One-seventh to the Special Fund
Orphan Fund
Net income of the Orphan Fund shall be applied in providing for the education and maintenance of
orphan children resident within a distance of fifteen miles from Guildhall, Exeter.
Special Fund
Income of the Special Fund shall be applied in any one or all of the following ways.
a) In the maintenance and improvement of any voluntary aided Church of England School in the City of
Exeter.
b) In providing for Church of England Schools in the City of Exeter such special benefits of a kind not
normally provided by the local education authority.
c) In promoting the education (including social and physical training) of persons under the age of 25
years who have at any time attended as pupils of a secondary school in Exeter and who are in need
of financial assistance.
Acland Fund
Net incomes of the Acland Exhibition Fund to be paid to the Governing Body of Exeter School and applied
by the school for the benefit of persons who have not attained the age of 25 years, who are attending, or
have for not less than three years attended, Exeter School and are in need of financial assistance.
Financial assistance can be for school scholarships, clothing, books, tools etc, for a profession, trade or
calling, scholarships to travel abroad for education, studying music or other arts, prizes for students
attending Exeter School, grants to organised parties to travel abroad.

Page 2
St John's Hospital Educational Foundation
Report of the Governors for the year ended 31 December 2023
Objectives and Activities (continued)
Public Benefit
The Foundation provides benefit to the public in three areas:
To individuals and organisations who apply to the Foundation for financial assistance within the
terms of the Orphan Fund or Special Fund (as set out on page 1).
To Exeter School where the funds are used for educational purposes including to provide free
places to pupils from the maintained sector from families of limited means.
To The Maynard School where the funds are used for advancing education including the provision
of means tested bursaries of up to 100 %.
Review of activities
The Governors, long-term strategy is to maintain a sound investment base to produce reasonable income
and capital growth. The investment base has been built up over recent years by selling the Foundation's
freehold interest in various farms in and around Clyst St Lawrence, Nr Exeter, Devon.
The Governors sold the last residential propety, Willis Cottage, together with a small amount of
repurchased land, on 2 August 2006.
The Governors have already diversified the investment base and acquired a freehold commercial property
in 2001, with a view to obtaining a reasonable rental income along with capital growth.
The Charity made donations and grants totalling £95,748 for the year. Further details are set out in note
5. This includes "other grants to eleven individuals or organisations, including amounts of up to £250 to
various individuals (to help with the cost of education, expeditions and training).
After taking into account the grants made during the year, and the income due from the General Fund to
the Special Fund for the yearjust ended, the Foundation has accumulated undistributed income as follows.-
2023
2022
General fund
Special fund
Orphan fund
Acland fund
24,941
12,165
30,349
10,282
Total
37,106
40,631
The Governors expect to distribute most of these funds by awarding grants to qualifying individuals and
schools over the next year.

St John's Hospital Educational Foundation
Page 3
Report of the Governors for the year ended 31 December 2023
Achievements and Performance
Achievements
The General and Acland fund net income is paid on in full to the appropriate beneficiaries each year.
The Special fund made awards to individuals and schools totalling £17,848 during the year leaving
accumulated funds of £24,941 undistributed at the year-end, and the Orphan fund made awards totalling
£0 leaving accumulated funds of £12,165 undistributed.
Investment Performance
For the year ended 31 December 2023 the value of investments increased/ (decreased) and yields were
as follows:
2023
Value
2022
Value
Index Value at
31.12.2023
Yield
Yield
Brewin Dolphin portfolio
UK-FTSE 100 capital return
MSCI PIMFA balanced index
capital return
5.61
3.77
3.20
(10.74)
0.92
2.65
7,733
178.95
7.73
(10.19)
Financial Review
Permanent endowment
At 31 December 2023 the Foundation had Permanent Endowment valued at £2,710,960 as set out in note
9. The Governors are satisfied that a fair proportion of the Foundation's management and administration
expenses are met each year out of income generated from the Permanent Endowment, part of which may
be applied for this purpose.
Investment powers and policy
The Foundation's Governing Scheme does not include any specific investment powers so the investment
powers are now as granted by The Trustee Act 2000, which came into force on 1 February 2001.
The Foundation's policy is to invest its permanent endowment in investments and property as listed under
fixed assets on the balance sheet. The investments comprise direct stock market investments managed
by Brewin Dolphin. The primary investment objective is a balance between income and capital growth
subject to a medium level of risk. No investment restrictions or limitations apply to the portfolios.
The investment portfolio is currently managed by Brewin Dolphin.
Management and administration costs
During 2011 Governors agreed that for the year ended 31 December 2011 and subsequent years:
80 % of Brewin Dolphin management charges will be treated as a capital expense.
It is no longer appropriate to allocate a proportion of the Brewin Dolphin and Francis Clark
management charges to the Orphan and Acland Funds.
Governors subsequently agreed that from 1 January 2014:
90 % of Brewin Dolphin management charges will be treated as a capital expense.

St John's Hospital Educational Foundation
Page 4
Report of the Governor's for the year ended 31 December 2023
Financial Review (continued)
Reserves
At 31 December 2023 there were reserves totalling £37,106 representing accumulated income of the
Special and Orphan Funds. The Foundation does not need to accumulate reserves and its policy is to
distribute accumulated income when suitable applicants are identified.
Legal and administrative information
Governors and charity trustees
The Foundation's Governors are the charity trustees of St John's Hospital Educational Foundation ("the
charity"), and have all served in office throughout the year and to the date of this report except where
indicated.
They are:
Governors
Date of first
Appointment
Ex Officio Governor
The Right Worshipful The Lord Mayor of Exeter
Representative Governors
Miss R Edbrooke
Lady J Stanhope
Mr A P Foster
Miss S M Witheridge
28.11.14
01.06.17
27.05.21
27.05.21
Co-optative Governors
Mr T V Knapp (Chairman to 21 June 2023) (Vice-chairman from 21 June 2023)
Mr D McGahey (Vice-chairman to 21 June 2023) (Chairman from 21 June 2023)
Mrs G Redman
Mr P Holland
Mr M Caines MBE DL
Mr A Langdon
16.06.04
25.07.18
20.03.02
29.07.20
01.08.22
16.09.22
Clerks
PKF Francis Clark LLP, Chartered Accountants, Centenary House, Peninsula Park, Rydon Lane, Exeter,
EX2 7XE.
Bankers
Bank of Scotland, 33 Old Broad Street, London, EC2N 1 HZ
Investment Adviser
RBC Brewin Dolphin, Vantage Point, Woodwater Park, Pynes Hill, Exeter, EX2 5FD
Independent examiner
Bush & Co Limited, Chartered Accountants, 2 Barnfield Crescent, Exeter, EX1 1 QT

St John's Hospital Educational Foundation
Page 5
Report of the Governors for the year ended 31 December 2023
Structure, Governance and Management
Constitution
St John's Hospital Educational Foundation is a Trust, which can be traced back over 850 years to 1170.
The present Constitution is based on a Scheme dated 25 October 1935 and alterations sealed on 26
November 1958 and 10 May 1988 and as amended by a S74D resolution dated 18 November 2009. The
Trust has charitable status, charity registration number 306676.
Appointment of Governors
A maximum of four Representative Governors appointed by Devon County Council for a period of four
years expiring May 2025.
A maximum of seven Co-optative Governors appointed by the Governors of St John's for a period of five
years.
Administration
The Governing Body meet three times a year (being as far as possible, the third Wednesday in the months
of March, June and November) to deal with the business of the Foundation.
A Finance Sub-committee, currently comprising the Chairman, Vice-chairman, Lady J Stanhope and Mr A
Foster, meet with Brokers on an ad-hoc basis to discuss investment strategy and performance.
There is also a policy statement whereby the Chairman and Clerk meet regularly to deal with grant
applications up to a maximum of £500 (increased from £400 April 2020).
The administration of the Foundation has, over recent years, been streamlined by the divestment of prize
fund investments and lump sum payments in lieu of future annual payments.
On 24 January 2011 the three separate investment portfolios for the General, Orphan and Acland Funds
were merged to reduce administration. The valuations at that date were:
General Fund
Orphan Fund
Acland Fund
1,292,244.06
30,166.59
66,235.89
93.058
2.172
4.770
1,388,646.54
100.000
Following subsequent additions to the General Fund, the combined investment portfolio is now apportioned
as follows:
General Fund
Orphan Fund
Acland Fund
93.884
1.909
4.207
100.000
Relationship with Other Charities
Under the Governing Scheme a total of six-sevenths of the charity's annual surplus shall be paid to Exeter
School and The Maynard School. These schools are both registered charities in the City of Exeter.

Page 6
St John's Hospital Educational Foundation
Report of the Governor's for the year ended 31 December 2023
Structure, Governance and Management (continued)
Related parties
During the year, the following governors were governors of the schools ofwhich receive the charity's annual
surplus:
David McGahey (Chairman) governor at Exeter School
Rowan Edbrooke governor at Exeter School
Sarah Witheridge governor at The Maynard School
Peter Holland governor at The Maynard School
Risk management
The Governors have assessed the major risks to which the Foundation is exposed and are satisfied that
systems are in place to mitigate those risks. The major risks identified are:
Investment risk - the risk of financial loss is mitigated by regular performance monitoring.
Loss of key staff - the Clerk to the Governors has arrangements in place to ensure that there is no
loss of key documentation or knowledge.
Insurance risk, of our key asset, Castle House - mitigated by landlords and tenants, insurance
cover.

Page 7
St John's Hospital Educational Foundation
Statement of Governors, Responsibilities
Charity Law requires the Governors as the trustees of the Charity to prepare financial statements for each
financial year which give a true and fair view of the Charity's financial activities during the year and its
financial position at the end of the year.
In preparing the financial statements the Governors should follow best practice and
Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
Follow applicable accounting standards and the Charities SORP, disclosing and explaining any
departures in the financial statements" and
Prepare the financial statements on the going concern basis unless it is inappropriate to assume
that the Charity will continue in operation.
The Governors are responsible for keeping accounting records, which are such as to disclose, with
reasonable accuracy, the financial position of the Charity at any time, and to enable them as trustees to
ensure that the financial statements comply with charity law. The Governors are also responsible for
safeguarding the Charity's assets, and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
(6(
2024

Page 8
St John's Hospital Educational Foundation
Independent examiner's report to the Governors of St John's Hospital Educational
Foundation
I report on the accounts of the Foundation for the year ended 31 December 2023, which are set out on
pages 9 to 21.
Respective responsibilities of Governors and examiner
The Charity's Governors are responsible for the preparation of the accounts. The Charity's Governors
consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011
Act) and that an independent examination is needed. It is my responsibility to:
examine the accounts under section 145 of the 2011 Act,
follow the procedures laid down in the General Directions given by the Charity Commissioner under
section 145(5)(b) of the 2011 Act. and
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity
Commissioner. An examination includes a review of the accounting records kept by the Charity and a
comparison of the accounts presented with those records. It also includes consideration of any unusual
items or disclosures in the accounts, and the seeking of explanations from you as Governors concerning
any such matters. The procedures undertaken do not provide all the evidence that would be required in
an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view"
and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
Which gives me reasonable cause to believe that, in any material respect, the requirements:
To keep accounting records in accordance with section 130 of the 2011 Act, and
To prepare accounts which accord with the accounting records and to comply with the
accounting requirements of the 2011 Act have not been met; or
To which,"in my opinion, attention should be drawn in order to enable a proper understanding of
the accounts to be reached.
Mrs S Truran FCCA, FCA
Bush & Co Limited
Chartered Accountants
2 Barnfield Crescent
Exeter EX11QT
Dated: 4 &)"2Y-

Page 9
St John's Hospital Educational Foundation
Statement Of Financial Activities (SOFA)
Year Ended 31 December 2023
Pennanent Endowment & Restricted
Funds
Permanent
Endowment Funds
General
Total
Total
Special
Orphan
Acland
2023
2022
Note
Income
Investment income
105,169
1,282
2,824
109,275
104,441
Total income
105,169
1,282
2,824
109,276
104,441
Expenditure
Costs of raising funds.
Investment management costs
18,322
241
532
19,095
19,895
Expenditure on charitable activities.
Grant making activities
85,676
17,848
2,824
106,348
94,158
Total expenditure
103,998
17,848
241
3,356
125,443
114,053
Net realised (losses)/gains on investments
Gains/(losses) on revaluation of
investments
(10,931)
(222)
(490)
(11,643)
(61,903)
133,294
2,710
5,973
141,977
(177,697)
Net incomel(expenditure) for
the year before transfers
123,534
(17,848)
3,529
4,951
114,166
(249,212)
Transfer between funds
(13,040)
12,440
600
Net incomel(expendlture) for
the year after transfers
110,494
(5,408)
4,129
4,951
114,166
(249,212)
Net movement in funds
110,494
(5,408)
4,129
4,951
114,166
(249,212)
Funds brought forward
at 1 January 2023
2,462,459
30,349
51,114
89,978
2,633,900
2,883,112
Funds carried forward
at 31 December 2022
2,572,953
24,941
55,243
94,929
2,748,066
2,633,900

Page 10
St John's Hospital Educational Foundation
Balance Sheet
As at 31 December 2023
Pormanent
Endowment Funds
General
Permanent Endowment & Restrlcted Funds
Total
Total
Speclal
Orphan
Acland
2023
2022
Note
Flxed Assets
Investments
Investment Property
13
14
2,118,447
475,000
43,078
94,929
2,256,454
475,000
2,098.342
475,000
2,593,447
43,078
94,929
2,731,454
2,573,342
Current Assets
Debtors
Cash at bank
15
16
5,852
78,109
12,440
12,501
600
11,565
18,892
104,999
16,076
150,021
2,824
83,961
24,941
12,165
2,824
123,891
166,097
Liabilities
Creditors: Amounts falling
due within one year
17
104,455
2,824
107,279
105,539
Net Current Assets
(20,494)
24,941
12,165
16,612
60,558
Net Assets
2,572,953
24,941
55,243
94,929
2,748,066
2,633,900
The funds of the charity
Restricted funds
Permanent endowment
24,941
12,165
43,078
37,106
2,710,960
40,631
2,593,269
2,572,953
94,929
Total charity funds
2,572,953
24,941
55,243
94,929
2,748,066
2,633,900
Approved by the Governors o
d signed on their behalf by
The notes on pages 11 to 21 form part of these accounts.

Page 11
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
St John's Hospital Educational Foundation meets the definition of a public benefit entity under FRS 102.
The financial statements have been prepared on a going concern basis and the Trustees are not aware
of any material uncertainties that would cast doubt on the charity's ability to continue as a going COn￿rn.
Status of Trust
The purpose of the trust is to provide financial assistance to promote education, mainly in the City of Exeter.
The trust has existed for 670 years and the position was clarified by a scheme sealed by the Charity
Commissioners dated 25 October 1935 and alterations sealed on 26 November 1958 and 10 May 1988
and as amended by a S74D resolution dated 18 November 2009.
Historically the "trustees" and "trust" are referred to as "governors" and "foundation" respectively. These
historical terms are used throughout the financial statements.
The foundation is a Registered Charity, registration number 306676.
Principal accounting policies
The financial statements are prepared under the historical cost convention as modified by the
revaluation of investments and in accordance with applicable accounting standards,
Charities Act 2011 and the Charities Statement of Recommended Practi￿ (FRS 102).
Accumulated Funds
Permanent Endowment
The Foundation's Permanent Endowment comprises the General Fund. The movements for the
year, as set out in note 9, represent the effect of the revaluation of the underlying investments and the profiuloss
on redemption of certain gilts and disposal of other investments.
Restricted Funds
Restricted Funds, as set out in note 9, comprise the Special, Orphan and Adand Funds. The restrictions that apply
to each fund are as set out in the Governing Scheme, as summarised in the Governors, Report.
Investments and investment income
Stock market investments are shown at fair value at the balance sheet date. Any gain or loss on revaluation
is taken to the SOFA. Investment income is accounted for in the period in which the Foundation is entitled to
receipt. Accured interest on gilt investments is accounted for by way of the annual revaluation adjustment. The
investment property is valued by Governors at fair value at the balance sheet date.
c. Expenditure
Expenditure is accounted for on an accruals basis and has been dassifed under headings that aggregate all
costs relating to the category. Where costs cannot be directly attributed to an activity they have been allocated
to activities on a basis consistent with the use of resources. The allocation of support costs is set out in Note 6.
d. Grants and bursarles
Grants and bursaries awarded from restricted funds are induded as expenditure in the period the grant is
committed, subject to the satisfaction of any performance related clauses.
Value Added Tax
The Foundation is registered for Value Added Tax (VAT) with effect from 1 August 2002. Expenditure in
these financial statements includes irrecoverable VAT where appropriate.

Page 12
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
Cash balances
Cash at bank and cash in hand represents amounts held to meet short-term cash commitments as they
fall due. This includes cash and short term deposits with a maturity of three months or less from the
date of acquisition or opening of the account.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid less any trade discounts due.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably.
Financial instruments
The Trust only has financial assets of a kind that qualify as basic financial instruments i.e. cash,
investments, short-term debtors and creditors, which are initially recorded at transaction value.
Investments are revalued at market value through the statement of financial activities.
Permanent
Endowment
Funds
General
Permanent Endowment & Restricted
Funds
Orphan
Total
2023
Total
2022
Special
Acland
3. Investment income
Dividends and interest
Bank interest
Rent
63,033
136
42,000
1,282
2,824
67,139
136
42,000
62,307
134
42,000
105,169
1,282
2,824
109,275
104,441
4. Investment management costs
Property insurance and management
Brewin Dolphin fee - revenue 10°/
capital 90 %
Support costs (Note 6)
2,398
1,405
11,869
2,650
2,398
1,405
12,642
2,650
2,928
1,437
12,933
2,597
241
532
18,322
241
532
19,095
19,895

Page 13
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
Permanent
Endowment
Funds
General
Permanent Endowment & Restricted
Funds
Orphan
Total
2023
Total
2022
Special
Acland
5. Grant making activities
Annual payments
Other grants
Financial distributions (Exeter and
Maynard Schools)
Support costs (Note 6)
432
432
20,672
432
12,902
17,848
2,824
74,644
10,600
74,644
10,600
70,436
10,388
85,676
17,848
2,824
106,348
94,158
6. Support costs
Clerks, salary
Independent examination
Meeting expenses
Sundry expenses
11,453
1,358
80
359
11,453
1,358
80
359
11,604
1,249
132
13,250
13,250
12,985
Allocated:
Investment management costs (200/0)
Grant making activities (80 % )
2,650
10,600
2,650
10,600
2,597
10,388
13,250
13,250
12,985
General
Special
Orphan
Acland
2023
2022
7. Other recognised gains and losses
Realised gainsl(losses)
Equities
Fixed Interest
Property
(11,145)
214
(226)
(500)
10
(11,871)
228
(37,716)
(24,187)
(10,931)
(222)
(490)
(11,643)
(61,903)
Unrealised gains/(losses):
Equities
Fixed Interest
Property
126,025
7,269
2,562
148
5,647
326
134,234
7,743
(157,107)
(20,590)
133,294
2,710
5,973
141,977
(177,697)
122,363
2,488
5,483
130,334
(239,600)

Page 14
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
8. Transfers between Funds
The annual transfer of funds from General Fund comprises:
£12,440 - transfer of 1t7th of annual surplus to Special Fund
£600 - transfer of fixed annual payment to Orphan Fund
Permanent
Endowment
Funds
Permanent Endowment & Restrlcted
Funds
General
Special
Orphan
Acland
2023
2022
9. Net Movements in funds
Restricted funds
At 1 January 2023
Movements for the year
30,349
(5,408)
10,282
1,883
40,631
(3,525)
37,310
3,321
At 31 December 2023
24,941
12,165
37,106
40,631
Permanent Endowment
At 1 January 2023
Movements for the year
2,462,459
110,494
40,832
2,246
89,978
4,951
2,593,269
117,691
2,845,802
(252,533)
At 31 December 2023
2,572,953
43,078
94,929
2,710,960
2,593,269
Total Funds
At 1 January 2023
Movements for the year
2,462,459
110,494
30,349
(5,408)
51,114
4,129
89,978
4,951
2,633,900
114,166
2,883,112
(249,212)
At 31 December 2023
2,572,953
24,941
55,243
94,929
2,748,066
2,633,900
10. General fund ranges
Net Current
Llabilitles
Property
Investments
Bank
Total
At 31 December 2022
475,000
1,967,532
119,057
(99,130)
2,462,459
At 31 December 2023
475,000
2,118,447
78,109
(98,603)
2,572,953
11. Staff numbers and costs and related party transactlons
The Foundation does not employ any staff. Administration is carried out by the partners, former partner
and staff of the Clerks, Messrs PKF Francis Clark LLP, Chartered Accountants.
2023
2022
Fees paid to the Clerk, induding unrecoverable VAT
11,453
11,604
Trustees are not remunerated, and are not reimbursed expenses for attending meetings.
There were no related party transactions during the year.
12. Independent examiner fees
2023
2022
Fees paid to the Independent examiner
including unrecoverable VAT
1,358
1,249

Page 15
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
13 Investments
2023
2022
At 1 January 2023
Additions at cost
Disposal proceeds
Losses/(gains) on disposals
Lossesl(gains) on revaluation
Movement in cash
2,098,342
547,295
(415,783)
(11,643)
141,977
(103,734)
2,350,877
270,928
(377,815)
(61,903)
(177,697)
93,952
At 31 December 2023
2,256,454
2,098,342
Holding
Cost
Market
Value @
31.12.23
Details of investments held by Brewin Dolphin
Aberdeen Asian Mangt
Aberforth Smaller Coys Trust
Admiral Group
Alcon Ag
Apple (70 bought 09.02.22)
Ashtead Group
Bae Systems
Barratt Developments
Berkshire Hathaway (bought 4.5.23)
British Telecom 6.375 %
Close Bros Group
Coca-cola (bought 19.9.23)
DBX Tracker MSCI Japan Index (200 sold 24.2.23)
Diageo PIC
Estee Lauder (sold 19.9.23)
Fastenal Com (bought 19.9.23)
Fidelity Eur Value
Fidelity UCITS/CAV (5,800 bought 24.2.23)
Fil Invt Services (Pacific)
First Sentier Investments (UK)
Glaxosmithkline
Greencoat UK Wind (bought 19.9.23)
Haleon
Home Depot Inc (bought 19.9.23)
Institutional Cash Series (34,945 bought 12.6.23 25,000 bought 25.9.23)
I Shares (837 bought 19.9.23)
John Lang Environmental Asset
JP Morgan Asian Investment Trust
JP Morgan Etfs Ireland (sold 4.5.23)
J.P Morgan Chase & Co (bought 19.9.23)
21,600
2,610
815
650
210
520
2,800
2,500
155
50,000
1,600
531
1,400
1,040
41,601
26,619
19,701
30,754
28,212
5,342
7,950
13,808
39,383
80,662
25,493
25,015
47,344
11,265
44,928
35,966
21,875
39,775
31,717
28,402
31,094
14,065
43,367
56,663
12,704
24,547
81,634
29,702
358
24,250
20,120
36,000
2,033
2,948
14,861
3,685
70
59,945
5,137
47,200
16,824
15,865
34,254
129,066
40,862
7,571
42,302
20,966
9,910
17,883
59,945
119,414
50,060
25,930
18,190
87,300
147,832
44,446
13,371
42,752
22,514
11,853
19,030
59,945
192,098
47,955
57,202
132
15,961
17,614
Carried forward to page 16
993,138
1,278,541

Page 16
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
Holding
Cost
Market
Value @
31.12.23
Details of investments held by Brewin Dolphin (continued)
Brought forward from page 15
993,138
1,278,541
Legal and General
Lloyds TSB Banking Group
Maitland Instilutional Serv (sold 19.9.23)
Muzinich Funds (sold 13.6.23)
Nalional Grid (sold 4.5.23 and 10.7.23)
Nestle
North Am IncTst (bought 16,500 24.2.23, sold 35,460 19.9.23}
Novartis
Polar Capital Tech Trust
Princess Pnvate Equity Hldngs
Prudential
Rio Tinto
Royal Dutch Shell
Sandoz Gp (stock as dividend 4.10.23)
Schroders Investment Fund (bought 5.5.23)
Schroder Unit Trust
Schroders wfG
Schwab (Charles) Corp (bought 19.9.23)
Sherwin-williams (43 bought 4.5.23)
Smiths Group
Taylor Wimpey
Templeton Emerging Markets Investment Trust
UK Government 4.125 % (sold 4.5.23 and 19.9.23)
UK Government 4.125 % (34,250 bought 4.5.23, 74,643 bought 15.6.23)
Unilever PLC
Vanguard Funds S&P 500 (bought 486 4.5.23)
Vanguard Investment Funds (bought 19.9.23)
Vodafone Group PIC (sold 19.9.23)
31 Infrastructure
7,400
33,576
19,984
32,627
18,581
16,019
210
14,240
435
19,296
29,422
30,709
14,058
32,405
18,989
36,217
60,845
19,090
41.296
34,417
32,438
38.351
16.058
57.836
78,688
2,195
35,664
51,306
14,032
18,458
28,872
22,220
25.293
21,224
1,250
4,265
1,810
990
3,060
87
75,930
60,000
3,264
342
118
40,159
60,720
5,613
15,997
22,927
13.980
23.038
10,092
1,260
17,200
14,000
108,893
760
2,746
216
108,854
15,757
112,199
19,747
112,473
28,880
194,682
19,939
7,500
25,160
24,113
1,761,933
2.230.666
Cash Deposit (Dealing account)
25,788
25,788
Total Investments
1,787,721
2,256,454
Allocated:
General Fund
Orphan Fund
Acland Fund
{93.884'/0)
(1.909%)
(4.207Q/o)
2,118.447
43,078
94,929
2,256.454

Page 17
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
14. General fund investment property
Castle House and garages, 21 Southernhay East, Exeter
2023
2022
At 1 January 2023
Revaluation during the year
475,000
475,000
At 31 December 2023
475,000
475,000
The property is valued by the Governors at open market value.
15. Debtors
Permanent
Endowment
Funds
General
Permanent Endowment & Restricted
Funds
Orphan
Total
2023
Total
2022
Special
Acland
Brewin Dolphin income account
Prepayment
Stratton Creber Commercial float
5,452
350
50
5,452
350
50
3,337
350
50
5,852
5,852
3,737
From general fund
y/e grants
12,440
600
13,040
12,339
5,852
12,440
600
18,892
16,076
16. Cash at bank
Bank of Scotland
78,109
12,501
11,565
2,824
104,999
150,021

Page 18
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
17. Creditors: amounts falling due within one year
Permanent
Endowment
Funds
General
Permanent Endowment & Restricted
Funds
Orphan
Total
2023
Total
2022
Special
Acland
Final distributions for year:
Exeter School
Maynard School
To Special & Orphan Fund
Brewin Dolphin management fee
Clerk's fees
Luncheon costs
Independent examination
Rent received in advance
VAT
Annual Payments
37,322
37,322
13,040
3,500
2,824
40,146
37,322
13,040
3,500
37,890
35,218
12,339
3,500
3,134
100
1,300
10,500
1,126
432
1,400
10,500
939
432
1,400
10,500
939
432
104,455
2,824
107,279
105,539
Performance related grants
The following special fund grants have been awarded but not yet included as a payment or liability as the payment
is dependent on the performance of a project approved by the Governors of St Johns:
St Sidwell's Primary School
Pinhoe Primary School
St Leonard's Primary School
7,500
1,200
7,500
16,200

Page 19
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
18. Distribution of General Fund balance of net income
2023
2022
Balance of net income (before distributions):
Investment Income
105,169
100,557
Less:
Investment Management Costs (note 4)
Grant making activities (note 5)
Annual payments
18,322
10,600
1,032
19,088
10,388
1,032
29,954
(11,869)
30,508
(12,126)
Less Brewin Dolphin fees capital expense (90 % )
18,085
18,382
Balance available for distribution
87,084
82,175
Distributed:
Exeter School (317)
Maynard School (217)
Special Fund
(117)
37,322
24,882
12,440
37,322
37,322
12,440
35,218
35,218
11,739
12,440
(617)
74,644 (117)
12,440
87,084
82,175
19. Grants to Institutions
2023
2022
St Luke's Science and Sports College
St Peter's CofE Aided School
St Michael's Primary School Heavitree
Pinhoe C of E Primary School
7,500
2,398
7,500
6,300
16,198
7,500

Page 20
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
20. Statement of Financial Activities - Comparative information
Year ended 31 December 2022
Permanent
Endowment
Funds
General
Permanent Endowment &
Restricted Funds
Special Orphan
Acland
Total
2022
Income
Investment income
100,557
1,212
2,672
104,441
Totsl income
100,557
1,212
2,672
104,441
Expenditure
Costs of raising funds."
Investment management costs
19,088
252
555
19,895
Expenditure on charitable activities."
Grant making activities
81,256
10,170
60
2,672
94,158
Total expenditure
100,344
10,170
312
3,227
114,053
Net realised (losses)/gains on investments
Gains/(losses) on revaluation of
investments
(58,044)
(1,205) (2,654)
(61,903)
(166,619)
(3,458) (7,620) (177,697)
Net (expenditure)/income for
the year before transfers
(224,450)
(10,170) (3,763) (10,829) (249,212)
Transfer between funds
(12,339)
11,739
600
Net (expenditure)/income for
the year after transfers
(236,789)
1,569
(3,163) (10,829) (249,212)
Net movement in funds
(236,789)
1,569
(3,163) (10,829) (249,212)
Funds brought forward
at 1 January 2022
2,699,248
28,780
54,277 100,807 2,883,112
Funds carried forward
at 31 December 2022
2,462,459
30,349
51,114
89,978
2,633,900

Page 21
St John's Hospital Educational Foundation
Notes forming part of the financial statements
Year Ended 31 December 2023
21. Net Movements in funds - Comparative information
Year ended 31 December 2022
Permanent
Endowment
Funds
General
Permanent Endowment &
Restricted Funds
Special Orphan
Total
2022
Acland
Net Movements in funds
Restricted funds
At 1 January 2022
Movements for the year
28,780
1,569
8,530
1,752
37,310
3,321
At 31 December 2022
30,349
10,282
40,631
Permanent Endowment
At 1 January 2022
Movements for the year
2,699,248
(236,789)
45,747 100,807 2,845,802
(4,915) (10,829) (252,533)
At 31 December 2022
2,462,459
40,832
89,978 2,593,269
Total Funds
At 1 January 2022
Movements for the year
2,699,248
(236,789)
28,780
1,569
54,277 100,807 2,883,112
(3,163) (10,829) (249,212)
At 31 December 2022
2,462,459
30,349
51,114
89,978 2,633,900