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2020-07-31-accounts

			Page
Reference and administrative		details ofthe Charity, its Trustees and advisers
Trustees' report			2-5
Independent auditor's	report	on the financial statements	6-8
Statement offinancial	activities
Balance sheet			10
Statement ofcash flows
Notes to the financial	statements		12-20

Trustees		Mrs CSBevan, Chairman1	Mrs CSBevan, Chairman1	Mrs CSBevan, Chairman1	Mrs CSBevan, Chairman1
		Mr R Couzensl
		Prof C C L Drummond
		DrJJefferies
		Mrs C LJordan
		Mrs K Ringhaml
		Mrs K Stringer
		Mrs C0Warriner		(appointed		1 July 2020)
		'
		Investment sub-committee
Charity registered
number		309679
Principal office		Headington School		Oxford
		OX3 OBL
Independent	auditor	Crowe U.K. LLP
		Carrick House
		Lypiatt Road
		Cheltenham
		GL50 2QJ
Bankers		Barclays Bank pic
		PO Box333
		Oxford
		OX1 3HS
Solicitors		Rickerby's LLP
		Ellenborough House
		Wellington Street
		Cheltenham
		Gloucestershire
		GL50 2QJ
Investment	Advisers	Rathbone Investment			Management
		Port of Liverpool	Building
		Pier Head
		Liverpool
		L3 1NW

				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
				2020	2020	2020	2020	2019
			Note			P.
Income from:
Donations								100
Investments				49,188	15,208		64,396	70,655
Total income				49,188	15,208		64,396	70,755
Expenditure on:
Raising funds:
Financing costs								15
Investment
management				14,712	5,188		19,900	20,463
Charitable activities				36,809	26,551		63,360	71,656
Total expenditure				51,530	31,739		83,269	92,134
Net (losses)/gains		on
investments				(140,531)	(20,832)		(161,363)	55,006
Net movement funds	in			(142,873)	(37,363)		(180,236)	33,627
Reconciliation	of
funds:
Total funds brought
forward				2,210,534	765,199	5	2,975,738	2,942,111
Net movement	in funds			(142,873)	(37,363)		(180,236)	33,627
Total funds carried forward				2,067,661	727,836	5	2,795,502	2,975,738

					2020		2019
			Note
Fixed assets
Investments					2,780,794		2,962,057
					2,780,794		2,962,057
Current assets
Cash at bank and	in	hand		18,112		15,381
				18,112		15,381
Creditors: amounts		falling due within one
year			10	(3,404)		(1,700)
Net current assets					14,708		13,681
Total net assets					2,795,502		2,975,738
Charity funds
Endowment funds			12		5		5
Restricted funds			12		727,836		765,199
Unrestricted funds			12		2,067,661		2,210,534
Total funds					2,795,502		2,975,738

					2020	2019
				Note
Cash flows from operating	activities
Net cash used in operating	activities				(61,656)	(69,606)
Cash flows from investing	activities
Dividends and interest from	investments				64,396	70,655
Proceeds from sale of investments					1,788,967	2,583,990
Purchase of investments					(1,769,067)	(2,563,527)
Net cash provided by investing activities					84,296	91,118
Cash flows from financing	activities
Finance costs paid					(9)	(15)
Investment management charges					(19,900)	(20,463)
Net cash used in financing	activities				(19,909)	(20,478)
Change in cash and cash	equivalents	in	the year		2,731	1,034
Cash and cash equivalents	at the beginning		of the year		15,381	14,347
Cash and cash equivalents	at the end	of	the year	15	18,112	15,381

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2020	2020	2020	2019
Bank interest				49,137	15,208	64,345	70,417
Income from		listed investments		51		51	238
				49,188	15,208	64,396	70,655
Total 2019				53,997	16,658	70,655
Investment		management	costs
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2020	2020	2020	2019
Investment	management		fees	14,712	5,188	19,900	20,463
Total 2019				15,180	5,283	20,463

					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					2020	2020	2020	2019
Charitable	activities				36,809	26,551	63,360	71,656
Total 2019					55,001	16,655	71,656
Expenditure		on charitable		activities
							2020	2019
Charitable		Donations
Made to Headington			School	Oxford Limited			60,000	70,000

		2020	2019
		F
Auditor's	remuneration
Audit services		1,704	1,656
Non-audit	services	1,656
		3,360	1,656

	Listed	Other
	investments	investments	Total
Cost or valuation
At 1 August 2019	2,824,316	137,741	2,962,057
Additions	886,546	882,521	1,769,067
Disposals	(882,477)	(906,490)	(1,788,967)
Revaluations	(161,363)		(161,363)
At 31July 2020	2,667,022	113,772	2,780,794

					2020	2019
	Accruals				3,404	1,700
11.	Financial	instruments
					2020	2019
	Financial	assets
	Financial	assets measured	at fair value through	income and expenditure	2,780,794	2,962,057

12.	Statement		offunds (continued)
	Statement		offunds - prior year
				Balance at
				1August			Gains'	Balance at
				2018	Income	Expenditure	(Losses)	31Ju/y 2019
	Unrestricted		funds
	Designated		Fund	2,185,991	53,997	(70, f96)	40,742	2,2f0,534
	Endowment		funds
	Endowment		Fund
	Restricted		funds
	Restricted	Fund		756,115	16,758	(21,938)	14,264	765,199
	Total offunds			2,942,111	70,755	(92,134)	55,006	2,975,738

Analysis	of net assets between fund	s - current period
		Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	funds
		2020	2020	2020	2020
Fixed asset investments		2,042,228	738,566		2,780,794
Current	assets	28,837	(10,730)		18,112
Creditors	due within one year	(3,404)			(3,404)
Total		2,067,661	727,836	5	2,795,502

Analysis of net assets between funds	- prior period
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2019	2019	2019	2019f
Fixed asset investments	2,197,471	764,586		2,962,057
Current assets	14,763	613		15,381
Creditors due within one year	(1,700)			(1,700)
Total	2,210,534	765,199	5	2,975,738

				2020	2019
				F
Net (expenditure)/income	for	the year (as per the Statement	of Financial
Activities)				(180,236)	33,627
Adjustments for:
Losses/(gains) on investments				161,363	(55,006)
Dividends and interest from investments				(64,396)	(70,655)
Decrease in debtors					1,870
Increase in creditors				1,704	80
Finance costs				9	15
Investment management				19,900	20,463
Net cash used in operating		activities		(61,656)	(69,606)

15.	Analysis ofcash and cash equivalents
		2020
	Cash at bank and in hand	18,112
	Total cash and cash equivalents	18,112

						At	1	August			At	31July
								2019	Cash	flows		2020
Cash	at	bank	and	in	hand			15,381		2,731		18,112
								15,381		2,731		18,112