OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-05-31-accounts

THE HAILEYBURY SOCIETY

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

Page 1 Index
Page 2 Reference and Administrative Information
Pages 3 to 6 Trustees' Report
Page 7 to 8 Auditor's Report
Page 9 Statement of Financial Activities
Page 10 Balance Sheet
Page 11 Cashflow Statement
Page 12 to 15 Notes to the Financial Statements
Charity Registration No: 310014
Registered address: 77 Railway Street
Hertford
Hertfordshire
SG14 1RP

2

THE HAILEYBURY SOCIETY

REFERENCE AND ADMINISTRATIVE INFORMATION

The Executive Officers, Trustees, General Committee members and advisers who were in office on 31 May 2021 are listed below. The Trustees listed were elected or re-elected at the Society's AGM on 28 November 2020.

President T N Nick Gandon (M69)
Chairman of Trustees T N I Colin Barber (K61)
Society Secretary T N I Jane Everard (nee Etherington) (L76 & Alb)
Treasurer Rob Hall (E69)
Elected Members - General Committee Lawrence Baker (C83)
Chris Briggs (Staff 00-19)
T Nick Courtney (M60)
T James Dahl (L93)
T Chris Darnell (M65)
Sophie Day (C11)
T N Doug Everard (BF73)
N Suse Flint-Cahan (nee Guilbride) (B93 & Alb)
T Fiona Illingworth (nee Short) (BF76 & Alb)
C Donald Macleod (A50)
T I Catherine MacLeod-Smith (L79 & Alb)
Stephen Miller (LS & L09)
N Andreas Payne (LS & K05)
Charles Richards (LS & Th02)
T Ben Tett (Th92)
T Peter Thomas (A75)
T I Scott Woods (LS & Th01)

T - Trustee, N - Nominations Sub-Committee, I - Investment Sub-Committee, C - Consultant to the Trustees

John Cook (A65), John Dodwell (BF59) and Richard Goldson (BF62) (all former Trustees) are appointed by the Trustees as members of the Investment Sub-Committee.

John Duncan of Messrs Gilbert Allen & Co, the Society's Auditors, is invited to attend meetings of the General Committee and of the Trustees as and when necessary.

Registered Office The Haileybury Society, 77 Railway Street, Hertford, SG14 1RP
Bankers National Westminster Bank Plc, 104 Fore Street, Hertford, SG14 1HF
National Westminster Bank Plc, 214 High Holborn, London, WC1V 7BX
CCLA Charity Funds, 80 Cheapside, London EC2V 6DZ
Investment Manager Investec Wealth & Investment, 2 Gresham Street, London EC2V 7QP
Auditors Gilbert Allen & Co, Churchdown Chambers, Bordyke, Tonbridge, Kent,
TN9 1NR

3

THE HAILEYBURY SOCIETY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021

Objectives

The Society’s objectives are to assist and promote educational priorities in connection with Haileybury, to form a bond between itself and Haileybury and to develop and strengthen the spirit of service to the community. There are ten subsidiary charity funds registered with the Charity Commission. The objectives of these subsidiaries are summarised on the Charity Commission website and are available as a separate document from the Society Office.

Activities

The Society organises events and publications that enable it to serve its members and provides practical and financial support by way of grants to Haileybury.

Achievements and Performance

Colin Barber has taken over from Chris Darnell as Chairman of Trustees. Nick Gandon has taken over from Doug Everard as President. Rob Hall has taken over from Colin Barber as Treasurer. After these changes, the Society has continued as normal to deliver the objectives of the Society. However, in this Coronavirus pandemic dominated year, nothing can be said to have been carried on as normal. All our committee meetings have been conducted remotely with full engagement by all the Trustees.

Our main focus from the beginning of the year has been to reengage fully with the school. Our new President, Nick Gandon, has led a team with two of our Trustees, Peter Thomas and Ben Tett, determined to achieve an agreement with the school for the full benefit of the Society and the school. This followed on from previous discussions that took place in 2020 and prior years when our previous President, Doug Everard, led the negotiations. It is anticipated that a full and meaningful reconciliation will be achieved. Further clarifications will be forthcoming at the AGM.

Our office staff, consisting of our Membership Manager, Georgina Maszlin and our Marketing Consultant Michael Smith of Red Page have provided continuous support to our members during the year. The team under the direction of our Society Secretary, Jane Everard, has continued to provide Society News with website postings, newsletters and a Society social networking presence. Additional Haileyburiana items have been available for our members to purchase through the Society’s website.

Our new Treasurer, Rob Hall, has taken control of the finances setting up a new accounting system with a more robust payments procedure for expenses using NatWest Bankline. Clearly without any regular source of income from the school to maintain future relationships with those pupils leaving Haileybury, our programme of events has been affected.

Our new President, Nick Gandon, prepared many interesting podcasts available to members through the Society’s website. Additional ways in which the Society can engage with its members are in the process of fruition.

Financial Results

In the year to 31[st] May 2021 grants of £19,285 were made, as follows:

Travel Grants £ 500
Haileybury Archives £2,000
Haileybury Youth Trust £2,700
R.A. Hall Bursary Scholarship £8,451
Roy Dore Bursary Scholarship £5,634

The Statement of Financial Activities follows in the next pages.

4

THE HAILEYBURY SOCIETY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021

Though our income from Legacies and Gift Aided Annual Subscriptions was £60k less than last year, we maintained our grants from both the Unrestricted and Restricted Funds at the same level as last year.

Payments to clubs were maintained but there were no events in the year, so a reduced cost of £5k.

Haileyburiana sales showed a small profit.

The regular costs of managing and administering the charity remained the same as last year. These costs are a necessary part of our existence and are incurred to maintain our office and website and to produce regular informative e-news and an improved database.

Our expenses ended up for the year at £95k more than our income. However, as a result of careful management by Investec, we were able to improve our financial position overall. We made profits on sales of investments during the year and at the year end the market value of our investments was increased in total by £201k. Consequently, we ended the year with a positive movement in the value of our funds of £106k to bring our funds up to £1,797k at the 31[st] May 2021, which the Trustees are pleased with.

Financial Review

Basis of Preparation

The financial statements that follow have been prepared in accordance with the Statement by the Financial Reporting Council on the Charities SORP (FRS102) (second edition - October 2019). The Haileybury Society is a public benefit entity and has applied the relevant public benefit provisions of FRS102. The Trustees of the Society are satisfied that The Haileybury Society has adequate resources to continue in operation for the foreseeable future and, accordingly, these financial statements have been prepared on the basis that The Haileybury Society is a going concern.

Assets and Obligations

The Society does not own any freehold or leasehold property and there are no significant liabilities.

Investment Policy and Performance

The Trustees’ Investment policy is to balance security, income and capital growth. The management of the investments, including those of the subsidiary funds, is undertaken by Investec Wealth and Investment Limited under the terms of a management agreement approved by the Trustees. The structure of the investment portfolio and the performance of the investment manager are monitored regularly by the Society’s Investment Sub-Committee.

Overall incoming resources moved from £141,408 to £67,179. In 2020 we had received a significant legacy totalling £62,000. Grants paid to the school were similar to last year at £19,285. Funds carried forward at the end of the year closed at £1,797,477 compared with £1,690,731 the previous year. Our financial position has been well maintained by the Society’s investment manager, overseen by our Investment Sub-committee. Many thanks are due to them all.

Grant-making Policy and Activity

The Trustees make grants to Haileybury with the aim of a) providing bursaries for pupils who might otherwise be unable to attend or remain at Haileybury and b) providing or improving facilities and prizes which the school might otherwise be unable to afford. Scholarship and bursary awards are also made from the subsidiary restricted funds administered by the Society in accordance with the purposes prescribed by their donors.

Sources of funds

The running costs of the Society, including the provision of membership services, are met from the Life Subscription fund. Grants and awards are made to the school from the Society’s investment income and from additional voluntary subscriptions made by members. From time to time the Society receives legacies from the estates of deceased members.

5

THE HAILEYBURY SOCIETY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021

Reserves Policy

The Trustees aim to retain sufficient reserves to fund the Society’s ongoing activities.

Plans for the Future

We remain financially sound and will remain committed to our objectives. We will continue to arrange events for our members. We will continue to meet our responsibilities with regard to payments from the Restricted Funds. We will continue to make grants and bursaries, as approved by the Trustees. We will endeavour to bring about a full reconciliation with Haileybury to continue our engagement with all members of the Society.

Constitution, Structure, Governance and Management

The Haileybury Society was constituted as an unincorporated association on 2[nd] August 1957. It is a registered charity (Number 310014) and its governing document is its Rules, as ratified at the AGM in December 2015 and available on the Society’s website and from the Society office.

Membership is open to former pupils, past and present members of staff and governors of Haileybury and Imperial Service College and its predecessor schools.

Organisation

The functional composition of the Trustees and General Committee have remained the same as in the last financial year. The objectives and terms of office of both these bodies are summarised in the Rules.

The Executive Officers are accountable to the Trustees for the exercise of their responsibilities, normally through their Chairman.

The Society operates within a detailed annual budget approved by the Trustees. Responsibility for organising social and promotional events in the UK and overseas is delegated to selected volunteer members of the Society.

The Trustees listed were elected or re-elected at the Society’s AGM on the 28[th] November 2020.

Risk Management

Monitoring the Governance of the Society, including identifying risk and any mitigation required, is an established agenda item at Trustees’ meetings to enable us to provide an audit trail if required.

We will continue to pay particular attention to changes recommended in Charity SORP guidelines and Data Protection legislation and will make amendments to operational and reporting activities accordingly.

Statement of Trustees’ Responsibility

As ever, the Trustees are mindful of the Charity Commission’s guidance on public benefit in the execution of the Society’s responsibilities.

Charity Law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the Charity’s state of affairs at the end of the period and of its surplus or deficit for that period. In preparing these Financial Statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6

THE HAILEYBURY SOCIETY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021

As Chairman of Trustees, I confirm that there is no information relevant to the audit of which the auditors are unaware and that the Trustees have taken the necessary steps to ensure they themselves are aware of all relevant audit information and make sure the auditors are aware of it.

Thanks

Many thanks to all the Officers, Trustees and Members of the Society. Specifically, our Society Secretary, Jane Everard, deserves special mention for all the duties she has carried out without flagging. Additionally, our new President, Nick Gandon, deserves special mention for all his tireless work in coming up with new initiatives and driving the team in our negotiations with the school. Furthermore, Rob Hall, our new Treasurer, has maintained our accounts carefully preparing the necessary budgets that will maintain our funds into the future. Investec, our investment manager, has continued to make the best use of our capital funds and deserve our thanks for maintaining these in this difficult financial year. John Duncan from our firm of auditors has continued to give us sound financial advice and guidance.

Signed on behalf of the Trustees

Colin Barber - Chairman 12 October 2021

7

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF

THE HAILEYBURY SOCIETY FOR THE YEAR ENDED 31 MAY 2021

Opinion

We have audited the financial statements of The Haileybury Society for the year ended 31 May 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 102 the Financial Reporting Standard applicable in the UK Generally Accepted Accounting Practice)

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

The trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

The trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

8

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF

THE HAILEYBURY SOCIETY FOR THE YEAR ENDED 31 MAY 2021

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinon:

Responsibilities of trustees for the financial statements

As explained more fully in the Trustees' Responsibility Statement set out on page 6, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditors responsibilities. This description forms part of our auditor’s report.

Gilbert Allen & Co Statutory Auditor Dated: 12 October 2021 Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR

9

THE HAILEYBURY SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2021

Incoming Resources
From Members
Legacies, special donations, events and gift aid
Life subscriptions received
Annual subscriptions received
From Investments
Portfolio income (gross)
Bank interest (gross)
Total Incoming Resources (note 5)
Resources Expended
Charitable activities
Awards and grants paid
Membership services
Officers and staff ( note 3)
Publications and website
(Profit ) Loss on sale of Haileyburiana
Events income less expenses
Clubs and promotional activities
Managing and administering the charity:
Officers and staff ( note 3)
Trustees' remuneration (note 2)
Trustees' expenses
Premises costs
Other administration costs
Computer maintenance, database and training
Accountancy
Audit fee
Other
Investment management expense
Total Resources Expended
Net Profit (Loss) on sale and valuation of Investments
(Note 5)
Net Movement in Funds
Capital received (note 4)
Funds brought forward at 1 June 2020
Funds carried forward at 31 May 2021		 Unrestricted
£

10,259
-
10,259
12,515
22,774
25,664
1
25,665
48,439
5,200
40,209
7,357
(107)
886
2,699
51,044
4,730
-
-
14,297
6,658
45,440
-
3,275
74,400
15,239
145,883
91,038
(6,406)
-
760,117
753,711		 Restricted
and
Designated
£
-
-
-
-
-
18,740
-
18,740
18,740
14,085
-
-
-
-
-
-
2,366
-
-
-
-
-
-
-
2,366
-
16,451
110,863
113,152
-
930,614
1,043,766		 2021
Total
£
10,259
-
10,259
12,515
22,774
44,404
1
44,405
67,179
19,285
40,209
7,357
(107)
886
2,699
51,044
7,096
-
-
14,297
6,658
45,440
-
3,275
76,766
15,239
162,334
201,901
106,746
-
1,690,731
1,797,477		 2020
Total
£
67,581
-
67,581
16,287
83,868
57,408
132
57,540
141,408
19,917
49,484
7,850
(2,214)
-
7,889
63,009
8,732
-
220
14,765
31,581
37,548
1,560
3,000
97,406
15,641
195,973
(129,806)
(184,371)
2,000
1,873,102
1,690,731

Incorporating the Trustees’ Report and Abridged Financial Statements for the year ended 31 May 2021. Copies of full financial statements, which have attached to them an unqualified report by the Society’s auditors, may be obtained from the Society’s office on request.

The Haileybury Society incorporating the OH Society and the USC and ISC Society.

10

THE HAILEYBURY SOCIETY

BALANCE SHEET AS AT 31 MAY 2021

Notes
Fixed Assets
Investments at market value
Book value - 2021
£1,436,837
2020
£1,496,930
Current Assets
Stock of Haileyburiana
(1)
Debtors and prepayments
Bank deposit accounts
Bank current accounts
Creditors: Amounts Falling due Within One Year
Creditors and accruals
Net Current Assets
Net Assets
Funds
(4)
Restricted and Designated
Unrestricted
Approved by the Trustees on
and signed on their behalf by :		 2021
£
1,736,608
1,736,608
21,342
11,802
4,202
29,014
66,360
(5,491)
60,869
1,797,477
1,043,766
753,711
1,797,477		 2020
£
1,599,946
1,599,946
23,543
15,921
23,201
32,405
95,070
(4,285)
90,785
1,690,731
930,614
760,117
1,690,731

Nick Gandon President

Colin Barber Chairman of the Trustees Dated: 12 October 2021

11

THE HAILEYBURY SOCIETY

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MAY 2021

Cash generated from operations
Net Incoming (Outgoing) Resources for the Year
Reconciliation to cash generated from operations:
Movement in investments ( Note 6 )
Cash inflow due to decrease in stocks of Haileyburiana
Cash inflow due to decrease in accrued income
Cash inflow due to increase in creditors
Movements in working capital
Net cash flow from operating activities
Capital received (note 4)
Net ( decrease ) in cash
Net cash resources at bank at beginning of year
Net cash at bank at 31 May 2021		 2021
£
106,746
(136,662)
2,201
4,119
1,206
(129,136)
(22,390)
-
(22,390)
55,606
33,216		 2020
£
(184,371)
175,447
(4,947)
5,809
-
176,309
(8,062)
2,000
(6,062)
61,668
55,606

Analysis of the Balances of Cash as Shown in the Balance Sheet

Bank deposit accounts
Bank current accounts
At 31 May 2021		 2021
£
4,202
29,014
33,216		 2020
£
23,201
32,405
55,606

12

THE HAILEYBURY SOCIETY NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

1. Accounting Policies

a) Basis of accounting

These financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and reporting by charities (SORP 2015), and in accordance with Financial Reporting Standard 102 (FRS 102). The Haileybury Society is a public benefit entity and has applied the relevant public benefit provisions of FRS 102. The Trustees of the Society are satisfied that The Haileybury Society has adequate resources to continue in operation for the foreseeable future and, accordingly, these financial statements have been prepared on the basis that The Haileybury Society is a going concern.

b) Incoming resources

All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Investment income is accounted for in the period for which the charity is entitled to receipt. Income is the gross value after reclaiming any tax credits that are available.

c) Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis.

d) Fixed assets for charity use

Any assets of material value held for use on a continuing basis in the activities are depreciated over their useful economic lives at 20% p.a. on a straight line basis.

e) Investments

Investments are revalued to market value as at the balance sheet date and the surplus or deficit of this revaluation is shown as an unrealised gain or loss on the face of the Statement of Financial Activities. Realised gains or losses represent the difference between the sale proceeds and the book value of an investment.

f) Stock of Haileyburiana

Stocks are valued at the lower of cost or net realisable value.

g) Charitable activities

Costs of charitable activities include grants made and an apportionment of overhead and support costs where applicable.

h) Funds structure

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. These are set out in the Trustees' Report together with designated funds where the trustees, at their discretion, have created a fund for a specific purpose. Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects.

2. Trustees

Trustees' received no remuneration, benefits or expenses in the year. An honorarium was paid for the services of the Society Secretary of £10,800 ( 2020 £10,800 ), who is also a trustee, in recognition of her work as secretary.

3. Officers and Staff

The average number of employees during the year was 1 (2020: 1). No employee received remuneration over £60,000.

Staff costs:
Salaries
Social security and pension costs		 2021
£
34,445
2,060
36,505		 2020
£
33,224
1,981
35,205

13

THE HAILEYBURY SOCIETY NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

4. Fund Balances for the Year

4. Fund Balances for the Year he Year he Year
Donations
At
Capital
and life
Income
31.5.2020
received
subscriptions
surplus
(note 5)
£
£
£
£
Restricted
Colin Cobb
70,608
-
-
1,237
Roy Dore
405,044
-
-
7,097
Fawcett Family
27,435
-
-
481
R A Hall
183,223
-
-
3,210
Matthews/Thomas
31,909
-
-
559
A S Russell
77,878
-
-
1,365
W E Russell
79,652
-
-
1,395
G R Smith
30,861
-
-
541
906,610
-
-
15,885
Designated Funds
D J Cook
12,962
-
-
227
Alastair Macpherson
4,029
-
-
227
Ewen Macpherson
2,013
-
-
35
Michael Freegard
5,000
-
-
-
Unrestricted Funds
Life subscriptions
640,434
-
-
(102,503)
Whatton/General
68,534
-
10,259
-
Norman King
51,149
-
-
-
1,690,731
-
10,259
(86,129)
5. Calculation of income surplus
Income
£
Colin Cobb
1,416
Roy Dore
8,122
Fawcett Family
550
R A Hall
3,674
Matthews/Thomas
640
A S Russell
1,562
W E Russell
1,597
G R Smith
619
Portfolio income - restricted
18,180
Designated Funds
D J Cook
260
Alastair Macpherson
260
Ewen Macpherson
40
Portfolio income and bank interest - unrestricted
25,665
Annual subscriptions
12,515
56,920
Legacies and special donations
10,259
Life subscriptions received
-
Total Incoming Resources
67,179		 Donations
At
Capital
and life
Income
31.5.2020
received
subscriptions
surplus
(note 5)
£
£
£
£
70,608
-
-
1,237
405,044
-
-
7,097
27,435
-
-
481
183,223
-
-
3,210

31,909
-
-
559
77,878
-
-
1,365
79,652
-
-
1,395
30,861
-
-
541		 Awards
Gain on
paid
investments
£
£
-
8,457
(5,634)
48,514
-
3,286
(8,451)
21,945
-
3,822
-
9,327
-
9,540
-
3,696		 Awards
At
pledged
31.5.2021
2021 / 22
£
£
80,302
-
455,021
[5,100]
31,202
[1,000]
199,927
[10,800]
36,290
-
88,570
-
90,587
-
35,098
-
906,610
-
-
12,962
-
-
4,029
-
-

2,013
-
-
5,000
-
-
640,434
-
-
68,534
-
10,259
51,149
-
-
15,885

227

227

35

-

(102,503)
-

-		 (14,085)
108,587
-
1,552
-
483
-
241
-
-
-
76,704
(5,200)
8,208
-
6,126		 1,016,997
[16,900]
14,741
-
4,739
-
2,289
-
5,000
-
614,635
-
81,801
-
57,275
-
1,690,731
-
10,259		 (86,129) (19,285)
201,901		 1,797,477
[16,900]
Income
£
1,416
8,122
550
3,674
640
1,562
1,597
619		 Membership
Other
services
expenses
£
£
-
(179)
-
(1,026)
-
(69)
-
(464)
-
(81)
-
(197)
-
(202)
-
(78)
-
(2,296)
-
(33)
-
(33)
-
(5)
(51,044)
(89,638)
-
-
(51,044)
(92,005)		 Income
surplus
£
1,237
7,096
481
3,210
559
1,365
1,395
541
15,884
227
227
35
(115,017)
12,515
(86,129)
18,180
260
260
40
25,665
12,515
56,920
10,259
-
67,179

14

THE HAILEYBURY SOCIETY NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

6. Net movement of valuation of investments 6. Net movement of valuation of investments Market Cost Net
value value movement
£ £ £
At 31 May 2021 1,736,608 (1,436,837) 299,771
At 31 May 2020 1,599,946 (1,496,930) 103,016
136,662 60,093 196,755
7. Investments Book Book Market Dividends
value Purchases Profit value value and interest
31.5.2020 (Sales) (Loss) 31.5.2021 31.5.2021 received
£ £ £ £ £ £
24,000 A2D Funding Ii plc 4.5% 24,298 - - 24,298 27,550 1080
29,900 Aberdeen Std Fd Mg ASI UK Smlr Cos Instl 34,764 (35,403) 639 - - 224
665 Astrazeneca Ord 31,904 (12,714) - 19,190 32,186 1012
4,000 Aviva Ord GBP0.25 21,117 (11,134) (9,983) - - -
4,530 Baillie Gifford American W3 Dis 49,830 - - 49,830 77,599 -
940 BHP Billiton Plc USD0.50 16,515 (6,712) 739 10,542 12,740 834
2,300 BP Ord USD0.25 16,531 (3,337) (2,331) 10,863 7,042 1049
1,400 Baillie Gifford Japanses W3 Dis - 23,767 - 23,767 24,850 -
19,150 Blackrock Fm Ltd 8,366 33,705 - 42,071 51,638 -
4,300 Blackrock Throgmor Ord GBP0.05 17,888 (16,684) 10,363 11,567 38,378 497
6,000 Brown Advisory Fds US Sustainable - 73,800 - 73,800 76,020 -
570 Ceres Power Hldgs Ord - 4,101 - 4,101 6,199 -
54,000 Charities Prop Fd Property Fund 60,051 - - 60,051 67,165 2662
27,802 CCLA Investment Ma Property Inc 29,000 - - 29,000 32,096 1020
700 Compass Group Ord 12,423 (5,626) 1,181 7,978 11,261 -
240 CRH Ord 9,015 (3,614) 609 6,010 8,850 166
800 Diageo Ord GBX28.935185 27,739 (17,687) 5,913 15,965 27,234 814
580 Experian Ord USD0.10 9,160 (8,362) 5,205 6,003 15,680 293
340 Findlay Park 31,908 (32,053) 18,226 18,081 42,405 339
20,000 Franklin Temp 28,327 (12,407) 1,827 17,747 24,438 211
14,500 GCP Infrastructure Ord 18,750 - - 18,750 14,333 1080
2,070 Glaxosmithkline Ord GBP0.25 30,046 (28,384) (1,662) - - 1479
930 Halma Ord 15,101 (11,681) 6,401 9,821 24,231 206
470 Hargreaves Lansdwn Ord - 7,607 - 7,607 7,787 261
40,530 Henderson Investment European Selected Opp 15,310 22,558 - 37,868 50,622 235
6,000 Hermes Fd Mangers FH Global - 11,005 - 11,005 10,525 -
14,394 HICL Infrastructure 23,750 - - 23,750 24,873 1187
3,900 HSBC Holdings Plc Ord USD0.50 (UK Reg) 49,490 (16,355) (9,129) 24,006 17,759 421
30,000 HSBC Holdings Plc 5.75% Sub 37,041 - - 37,041 37,563 1725
2,610 ITM Power Ord - 8,427 - 8,427 10,255 -
1,000 Informa Plc 7,713 (5,629) (2,084) - - -
24,946 INT Public Patrner Ord 34,909 - - 34,909 43,132 1814
165 Intertek Group Ord GBP0.01 8,908 (3,144) - 5,764 8,955 220
140 Invesco - 18,074 - 18,074 18,106 -
560 Ishares FTSE 500 Ucits Etf (inc) GBP 7,145 - - 7,145 16,594 305
9,400 Ishares Ii Plc USD - 49,619 - 49,619 51,051 228
2,330 Jupiter Gbl 24,591 - - 24,591 24,395 1081
22,000 Jupiter Fund Mgrs 51,232 (18,574) - 32,658 44,242 631
Carried forward 752,822 3,163 25,914 781,899 987,754 21074

15

THE HAILEYBURY SOCIETY

NOTES ON THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

7. Investments (cont) Book Book Market Dividends
value Purchases Profit value value and interest
31.5.2020 (Sales) (Loss) 31.5.2021 31.5.2021 received
£ £ £ £ £ £
Brought forward 752,822 3,163 25,914 781,899 987,754 21074
3,400 Legal & General Gp Ord - 8,323 - 8,323 9,665 430
Lloyds Banking Gp 22,340 (9,031) (13,309) - - -
4,000 Londonmetric Prop Ord GBP0.10 11,598 (3,866) - 7,732 9,376 474
23,000 London Stock Exch. 4.75% 24,623 - - 24,623 23,482 1092
165 London Stock Exch. Ord - 12,735 - 12,735 12,495 57
65,000 Mayfair Capital Inc Trust for Charities 66,179 - - 66,179 55,036 1749
10,550 Mercantile Investm Ord GBP0.25 15,516 - - 15,516 29,250 707
975 Mondi plc 13,222 5,024 - 18,246 18,593 655
1,400 National Grid 19,782 (6,313) (44) 13,425 13,151 1011
27,000 Nestle Finance 2.25% 27,237 - - 27,237 28,620 607
1,410 Polar Cap Tech Tst GBP0.25 17,537 - - 17,537 31,189 -
490 Polar Capital Fund Global Technology GBP I 22,589 - - 22,589 30,429 -
10,400 Premier Portfolio 19,464 (20,152) 688 - - 632
1,300 Prudential GBP0.05 27,105 (10,194) 70 16,981 19,516 187
24,000 Rabobank Nederland 0.25% 23,932 - - 23,932 24,494 540
140 Reckitt Ord 10p 14,120 (5,586) 252 8,786 8,915 164
930 Relx plc GBP0.144 16,052 (9,396) 3,604 10,260 17,100 198
670 Rio Tinto Ord GBP0.10 34,826 (20,726) 8,336 22,436 40,639 3179
2,140 Royal Dutch Shell 'B' Ord EUR0.07 53,983 (5,260) (6,962) 41,761 27,467 1210
8,900 SQN Asset Finance Ord 9,536 - (9,536) - - -
1,717 SQN Asset Finance C Shs 1,676 - (1,676) - - -
1,500 Sage Group GBPO 13,880 (4,699) (168) 9,013 9,848 307
75 Schroder Inv Mgmt E ISF Asian 5,403 22,377 27,780 34,875 467
Schroder Unit TSt 7,103 (8,822) 1,719 - - -
Schroder Unit Income Trust for Charities 25,220 (27,720) 2,500 - - -
18,100 Schroder Unit TSt Smaller Co - 31,367 31,367 31,096 380
1,350 Shaftesbury Ord GBP0.25 - 9,001 9,001 8,394 -
1,045 Smiths Group Ord GBP0.375 14,344 (16,851) 2,507 - - 447
480 Smith &Nephew Ord USD0.20 7,199 (4,202) 1,580 4,577 7,396 163
2,180 Standard Chartered Plc Ord USD0.50 23,179 (9,415) (13,764) - - -
STD Life Aberdeen Ord GBP0.139 10,727 (5,315) (5,412) - - 138
1,400 T. bailey Fund - 21,500 - 21,500 23,286 -
2,285 Templtn Emg Mkt 12,911 - - 12,911 23,010 663
4,894 Tesco Ord GBP0.06 14,070 - - 14,070 10,928 3759
29,590 The Renewables Inf Ord 28,212 3,308 - 31,520 38,023 1364
630 Unilever Plc Ord GBP0.031111 24,170 (9,805) 4,641 19,006 26,624 1146
1,200 Vanguard Funds plc 15,208 36,075 - 51,283 67,662 307
Vodafone Group Ord USD0.2095238 21,235 (13,117) (8,118) - - 731
310 Vontobel Asst Mgmt MTX Sust Asian Leader 21,306 13,637 - 34,943 39,345 496
WPP Plc Ord GBP0.10 9,668 (14,108) 4,440 - - 70
270 Whitbread Ord GBP0.76797385 - 9,312 - 9,312 8,593 -
1,447,974 (28,756) (2,738) 1,416,480 1,716,251 44404
Cash held by Investec Capital 48,956 (28,599) - 20,357 20,357 -
1,496,930 (57,355) (2,738) 1,436,837 1,736,608 44,404