## **THE HAILEYBURY SOCIETY** ## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MAY 2022** |**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[st] May 2022 are listed below. The Trustees listed were elected or re-elected at the Society's AGM on 11th December 2021. |**Chairman of Trustees**|| |---|---| |T N I|Colin Barber (K 61)| |**President**|| |T N|Nick Gandon (M 69)| |**Society Secretary**|| |T N I|Jane Everard (néeEtherington) (L 76 & Alb)| |**Treasurer**|| ||Rob Hall (E 69)| |**Elected Members - General Committee**|| ||Lawrence Baker (C 83)| ||Chris Briggs (Staff 00-19)| |T|Nick Courtney (M 60)| |T|James Dahl (L 95)| |T|Chris Darnell (M 65)| ||Sophie Day (C 11)| |T N|Doug Everard (BF 73)| |N|Suse Flint-Cahan (néeGuilbride) (Alb & B 93)| |T|Fiona Illingworth (néeShort) (BF 76 & Alb)| |C|Donald Macleod (A 50)| |T I|Catherine MacLeod-Smith (L & Alb 79)| ||Stephen Miller (LS & L 09)| ||Charles Richards (LS & Th 02)| |T|Ben Tett (Th 92)| |T|Peter Thomas (A 75)| |T I|Scott Woods (LS & Th 01)| T Trustee, N Nominations Sub-Committee, I Investment Sub-Committee C Consultant to trustees John Cook (A 65), John Dodwell (BF 59) and Richard Goldson (BF 62) (all former Trustees) are appointed by the Trustees as members of the Investment Sub-Committee. Stephen Hale of Perrys, 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 Management** : Investec Wealth & Investment, 2 Gresham Street, London EC2V 7QP **Auditors** : Perrys, Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR **3** ## **THE HAILEYBURY SOCIETY** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2022** ## **Introduction** An important part of our work this year has been our continued attempt to regain the full meaningful relationship with the School. Nick Gandon, Jane Everard and Peter Thomas have had numerous meetings with the Haileybury Council’s negotiating team. We remain hopeful that a formal agreement will be reached soon. ## **Objectives and Organisation** The functional composition of Trustees and General Committee has been the same as in the last financial year and the Rules of the Society have not changed. The Society’s officers remain accountable to the Trustees, through the Chairman, and the Society operates within the budget approved by the Trustees. Those listed in this Report as Trustees were elected and/or re-elected at the AGM on the 11th December 2021. A restructuring of the composition of the Committee is underway, to improve our organisation. ## **2022 Activities** This year we have had meetings in person, with some Trustees joining the meetings remotely. Full discussions have taken place to review the progress of the negotiations with the Master and Council’s representatives. Our financial position has been well maintained by Investec and been regularly overseen by our Investment sub-committee. Many thanks are due to them all. Our office staff, consisting of our Membership Secretary, Georgina Maszlin and our marketing and branding consultant, Michael Smith of Red Page have continued to provide 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 social networking presence. Additional Haileyburiana items have been available for our members to purchase. Our Treasurer, Rob Hall, has continued to maintain our accounts. Our President, Nick Gandon, initiated a wonderful fundraising effort in support of fellow OH Rob Butt (B 86), who was paralysed from the neck down in a freak accident while on holiday in Malta. The Arm-in-Arm campaign raised funds to provide a bionic arm and to give his family ongoing support. Over £80,000 was raised and £20,000 was paid to Restart Lives at a Sleep Out on the 3[rd] December 2021 at which OHs and members of staff took part. We were able to hold many other events this year, which our detailed in this annual report. However, without any regular source of life subscription income to maintain future relationships with those pupils leaving Haileybury, our programme of events has been somewhat affected. In planning activities, the Trustees consider how they will contribute to our aims and objectives and endeavour to ensure that these activities are carried out for the public benefit as guided by the Charity Commission, as well as been valued by our members. **4** ## **THE HAILEYBURY SOCIETY** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2022** ## **Financial Results** The Statement of Financial Activities follows in the next pages. Our income from Legacies and Gift Aided Annual Subscriptions was £5k more than last year. The amount of grants paid from both the Unrestricted and Restricted Funds were £6k less than last year. Payments to clubs were slightly increased. We held a number of events this year which were supported at a cost of £6k. 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, similar to 2021 at £93k, more than our income. However, this year, we had a loss of £53k on sales of investments. Consequently, we ended the year with a negative movement in the value of our funds of £146k reducing our total funds to £1,651k as at the 31[st] May 2022. ## **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 SubCommittee. **5** ## **THE HAILEYBURY SOCIETY** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2022** ## _**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. ## **Reserves Policy** The Trustees aim to retain sufficient reserves to fund the Society’s ongoing activities. ## **The Future** We remain financially sound. We will remain committed to our objectives. We will continue to arrange events and provide services 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. ## **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. ## _**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. THE HAILEYBURY SOCIETY TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2022 Statement of Trustees, RespoDsibility As ever, Ihe Trustee5 are mindful of the Charity Commission's guidance on public benefii in the execution of their So¢iety responsibilities. Charity Law requires the Trustees lo prepare financial Stat￿nents for cach financial year, which give a true and fair view of the CharitN' s stale of aftairs at the end of the period and of its surplus or deficit for that period. In preparing these Financial Statements, the Trustees are required 10: Select Suitable accounting policies and then apply theTn consistently. Make judgements and estimates that are reasonable and prndent. State whether the policies are in accordan¢e wilh applicable accounting standards. Prepare the Financia] Statements on the going concem basis unless it is inappropriate to presume that the Charity will continu¢ in operation. The Trustees are reSpO￿}ble for keeping proper ac¢ounting records, which disclose with reasonable accuracy at any time the financial Position of the Charity and enable them to ensure that the Financia] Ststements comply with the Charitie5 Art 2011. They are also responsible for safeguarding the &8sets of the Charity and hence for taking reasonable steps for the pttvention and delection of fraud aTrJ other irregulaTitie5. As Chaimian of Tnw I confinn that there is no infomation relevant to the audit of whi¢h the auditors are unaware and that the Trustees have taken the necessary steps to ensure they themselves are awa]Y of xll relevant audit inforniation and make sure the auditOT$ are aware of il. Thanks Many thatths to the Otricers. Trustees and Members of the Society. Our Society Secretary. Jane Everdrd. deserve5 special mention for all the duties she h&s catTied out tirelessly. Our Presidcnl, Nick GandoN has come up with TLew initiatives, such as the Sport5 di[￿er held in London and lead the team in our negotiations with the school. Rob Hall, our Treasurer. has maintained our a¢counts carefvlly preparing the necessary budgets and coming up with ideas to rdise fimds in order to our funds into the future. Investec, investment manager, hay wntinued to make the bcst use of our capital funds and deserve our thanks for maintaining these in what was another difficult investment financial year. John Duncan, from our firni of auditors. hLs continued to give us sound fiwwlcial advice aThJ guidan The help of all the Executive Officers. Trustees. General Commit*e membeys and advisery that make up the Society is invaluable. My hop< as it was last year, is that the Society ha5 better times to come with full wllaE*)ration with the school. Signed on beh￿f of the Truskes ColiD Barber (K61) Chalrman **7** ## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF** ## **THE HAILEYBURY SOCIETY FOR THE YEAR ENDED 31 MAY 2022** ## **Opinion** We have audited the financial statements of The Haileybury Society for the year ended 31 May 2022 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: - Give a true and fair view of the state of the charity's affairs as at 31 May 2022 and of its incoming resources and application of resources for the year then ended; - Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. ## **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 2022** ## **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: - the information given in the financial statements is inconsistent in any material respect with the trustees' report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. ## **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. **Perrys Audit Limited Statutory Auditor** **Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR** **Dated:** **9** ## **THE HAILEYBURY SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022** |**Unrestricted**
**£**
**Incoming Resources**
From Members
Legacies, special donations, events and gift aid
15,610
Arm in Arm
-
Life subscriptions received
-
15,610
Annual subscriptions received
12,027
27,637
From Investments
Portfolio income (gross)
23,541
Bank interest (gross)
1
23,542
**Total Incoming Resources (note 5)**
51,179
**Resources Expended**
**Charitable activities**
Arm in Arm
-
Restart Lives
-
Awards and grants paid
7,910
7,910
Membership services
Officers and staff ( note 3)
44,974
Publications and website
1,812
(Profit ) Loss on sale of Haileyburiana
(312)
Events income less expenses
6,073
Clubs and promotional activities
3,878
56,425
Managing and administering the charity:
Officers and staff ( note 3)
5,291
Trustees' remuneration (note 2)
-
Trustees' expenses
-
Premises costs
13,826
Other administration costs
5,808
Computer maintenance, database and training
42,131
Legal and professional
2,450
Audit fee
3,500
73,006
**Other**
Investment management expense
15,689
**Total Resources Expended**
153,030
**Net ( Loss ) Profit on sale and valuation of Investments**
(22,501)
**Net Movement in Funds**
(124,352)
**Funds brought forward at 1 June 2021**
753,711
**Funds carried forward at 31 May 2022**
629,359|**Restricted**
**and**
**Designated**
**£**
-
80,644
-
80,644
-
80,644
17,052
-
17,052
97,696
60,644
20,000
5,722
86,366
-
-
-
-
-
-
2,646
-
-
-
-
-
-
-
2,646
-
89,012
(30,803)
(22,119)
1,043,766
1,021,647|**2022**
**Total**
**£**
15,610
80,644
-
96,254
12,027
108,281
40,593
1
40,594
148,875
60,644
20,000
13,632
94,276
44,974
1,812
(312)
6,073
3,878
56,425
7,937
-
-
13,826
5,808
42,131
2,450
3,500
75,652
15,689
242,042
(53,304)
(146,471)
1,797,477
1,651,006|**2021**
**Total**
**£**
10,259
-
-| |---|---|---|---| ||||10,259
12,515| ||||22,774| ||||44,404
1| ||||44,405| ||||67,179| ||||-
-
19,285| ||||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| io THE HAILEYBURY SOCJETY BALANCE SHiEtASAt31 MAY 2022 2(J31 NDt Illxed Assets Irtvestrients at rri¥2ket vab* Bookv￿ue- 2022 £1398,190 2021 EI.436,B37 I￿.45￿ 1.736.608 1,640,451 1,736,008 Cur*#Dt Assets Siock of Haileyburiana Debtors and pr¢paym¢Thts B*T* deposit accounts BADk CurrentkCGO￿LX (i) 17,974 11,670 4.203 43.408 77.255 21,342 11,802 4.2rr2 29.014 Credltors: Amownts FAllkng due Ivlthln One Yè Arnirt Arni Cr¥difors 8nd 8ccruals (60.644) 5.491 N¢tc￿rr¢￿tAsSQts lo￿55 60,869 N¢tA$5ets 1.651,006 Funds R￿￿￿(te￿a￿dD¢SiwMled Unt¢stir¢ted ' {4) 1,021,5¥Q 629,426 1.043.766 733,711 1651XJ06 1,797,477 . Approved by the Truytstspn Nlrkcibdoty:, President Colitt Barber Ch21tman of lkn.TytsiÈ¢¥ Datsd: l>lLriovember **11** ## **THE HAILEYBURY SOCIETY** ## **CASH FLOW STATEMENT** ## **FOR THE YEAR ENDED 31 MAY 2022** |**Cash generated from operations**
**Net (Outgoing) Incoming 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**
**Net increase ( decrease ) in cash**
Net cash resources at bank at beginning of year
**Net cash at bank at 31 May 2022**|**2022**
**£**
(146,471)
96,157
3,368
132
61,209
160,866
14,395
14,395
33,216
47,611|**2021**
**£**
106,746| |---|---|---| |||(136,662)
2,201
4,119
1,206| |||(129,136)| |||(22,390)| |||(22,390)
55,606| |||33,216| ## **Analysis of the Balances of Cash as Shown in the Balance Sheet** |Bank deposit accounts
Bank current accounts
At 31 May 2022|**2022**
**£**
4,203
43,408
47,611|**2021**
**£**
4,202
29,014| |---|---|---| |||33,216| **12** ## **THE HAILEYBURY SOCIETY NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** ## **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 £9,900 ( 2021 £10,800 ), who is also a trustee, in recognition of her work as secretary. An Honorarium of £1,500 was paid for services of the Society Treasurer. ## **3. Officers and Staff** The average number of employees during the year was 1 (2021: 1). No employee received remuneration over £60,000. |Staff costs:
Salary
Social security and pension costs|**2022**
**£**
33,620
2,138
35,758|**2021**
**£**| |---|---|---| |||30,599
5,906| |||36,505| **13** ## **THE HAILEYBURY SOCIETY NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** ## **4. Fund Balances for the Year** |**4. Fund Balances for the Year**|**the Year**|**the Year**||| |---|---|---|---|---| |**Donations**
**At**
**Capital**
**and life**
**Income**
**31.5.2021**
**received**
**subscriptions**
**surplus**
**(note 5)**
**£**
**£**
**£**
**£**
**Restricted**
Colin Cobb
80,302
-
-
1,104
Roy Dore
455,021
-
-
6,255
Fawcett Family
31,202
-
-
429
R A Hall
199,927
-
-
2,748
Matthews/Thomas
36,290
**-**
**-**
499
A S Russell
88,570
-
-
1,218
W E Russell
90,587
-
-
1,246
G R Smith
35,098
-
-
483
1,016,997
-
-
13,982
**Designated Funds**
D J Cook
14,741
-
-
203
Alastair Macpherson
4,739
-
-
203
Ewen Macpherson
2,289
-
-
31
Michael Freegard
5,000
-
-
68
**Unrestricted Funds**
Life subscriptions
614,635
-
-
(109,633)
Whatton/General
81,801
-
15,610
-
Norman King
57,275
-
-
-
1,797,477
-
15,610
(95,146)
**5. Calculation of income surplus**
**Income**
**£**
Colin Cobb
1,306
Roy Dore
7,398
Fawcett Family
507
R A Hall
3,250
Matthews/Thomas
590
A S Russell
1,440
W E Russell
1,473
G R Smith
571
**Portfolio income - restricted**
16,535
**Designated Funds**
D J Cook
240
Alastair Macpherson
240
Ewen Macpherson
37
Michael Freegard
81
Portfolio income and bank interest - unrestricted
23,461
Annual subscriptions
12,027
52,621
Legacies and special donations
15,610
Life subscriptions received
-
**Total Incoming Resources**
68,231|**Donations**
**At**
**Capital**
**and life**
**Income**
**31.5.2021**
**received**
**subscriptions**
**surplus**
**(note 5)**
**£**
**£**
**£**
**£**
80,302
-
-
1,104
455,021
-
-
6,255
31,202
-
-
429
199,927
-
-
2,748

36,290
**-**
**-**
499
88,570
-
-
1,218
90,587
-
-
1,246
35,098
-
-
483||**Awards**
**Gain on**
**paid**
**investments**
**£**
**£**
-
(2,381)
(3,722)
(13,492)
**-**
(925)
-
(5,929)
(2,000)
(1,076)
-
(2,627)
-
(2,686)
-
(1,041)|**Awards**
**At**
**pledged**
**31.5.2022**
**2022/ 23**
**£**
**£**
79,025
[5,000]
444,062
[11,614]
30,706
-
196,746
[6,064]
33,713
-
87,161
[2,000]
89,147
-
34,540
-| ||1,016,997
-
-
14,741
-
-
4,739
-
-

2,289
-
-
5,000
-
-
614,635
-
-
81,801
-
15,610
57,275
-
-|
13,982

203

203

31

68

(109,633)
-

-|(5,722)
(30,157)
-
(437)
-
(141)
-
(68)
-
(148)
-
(18,228)
(7,910)
(2,426)
-
(1,698)|995,100
[24,678]
14,507
-
4,801
-
2,252
-
4,920
-
486,774
-
87,075
-
55,577
-| ||1,797,477
-
15,610|(95,146)|(13,632)
(53,303)|1,651,006
[24,678]| |||**Income**
**£**
1,306
7,398
507
3,250
590
1,440
1,473
571|**Membership**
**Other**
**services**
**expenses**
**£**
**£**
-
(202)
-
(1,144)
-
(78)
-
(502)
-
(91)
-
(222)
-
(227)
-
(88)
-
(2,554)
-
(37)
-
(37)
-
(6)
(13)
(56,425)
(88,695)
-
-
(56,425)
(91,342)|**Income**
**surplus**
**£**
1,104
6,254
429
2,748
499
1,218
1,246
483
13,981
203
203
31
68
(121,659)
12,027
(95,146)| |||16,535
240
240
37
81
23,461
12,027||| |||52,621
15,610
-||| |||68,231||| **14** ## **THE HAILEYBURY SOCIETY NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022** |**6. Net movement of valuation of investments**|**6. Net movement of valuation of investments**||||**Market**|**Cost**|**Net**| |---|---|---|---|---|---|---|---| ||||||**value**|**value**|**movement**| ||||||**£**|**£**|**£**| |At 31 May 2022|||||1,640,451|(1,398,190)|242,261| |At 31 May 2021|||||1,736,608|(1,436,837)|299,771| ||||||(96,157)|38,647|(57,510)| |**7. Investments**||**Book**|||**Book**|**Market**|**Dividends**| |||**value**|**Purchases**|**Profit**|**value**|**value**|**and interest**| |||**31.5.2021**|**(Sales)**|**(Loss)**|**31.5.2022**|**31.5.2022**|**received**| |||**£**|**£**|**£**|**£**|**£**|**£**| |24,000|A2D Funding Ii plc 4.5%|24,298|-|-|24,298|25,467|1080| |470|Anglo American|-|11,786|-|11,786|18,270|603| |400|Astrazeneca Ord|19,190|-|-|19,190|41,812|840| |13,786|Aquila Energy|-|13,786|-|13,786|10,925|**-**| |4,530|Baillie Gifford American W3 Dis|49,830|-|-|49,830|42,799|**-**| |940|BHP Billiton Plc USD0.50|10,542|(11,160)|618|-|-|866| |2,300|BP Ord USD0.25|10,863|(7,557)|(3,306)|-|-|176| |1,400|Baillie Gifford Japanses W3 Dis|23,767|-|-|23,767|21,504|223| |19,150|Blackrock Fm Ltd|42,071|-|-|42,071|45,437|**-**| |4,300|Blackrock Throgmor Ord GBP0.05|11,567|-|-|11,567|27,370|452| |6,000|Brown Advisory Fds US Sustainable|73,800|-|-|73,800|81,060|**-**| |550|Burberry Group|-|10,069|-|10,069|9,419|64| |570|Ceres Power Hldgs Ord|4,101|-|-|4,101|3,818|**-**| |54,000|Charities Prop Fd Property Fund|60,051|-|-|60,051|77,995|2761| |27,802|CCLA Investment Ma Property Inc|29,000|-|-|29,000|37,819|1556| |700|Compass Group Ord|7,978|-|-|7,978|12,444|98| |240|CRH Ord|6,010|(7,485)|1,475|-|-|170| |247|Croda Int|-|17,440|-|17,440|17,053|**-**| |800|Diageo Ord GBX28.935185|15,965|-|-|15,965|29,398|592| |580|Experian Ord USD0.10|6,003|-|-|6,003|15,396|205| |6,000|Federated Hrms|11,005|-|-|11,005|8,744|87| |340|Findlay Park|18,081|-|-|18,081|45,026|-| |12,000|Franklin Temp|17,747|(9,719)|2,620|10,648|12,756|324| |14,500|GCP Infrastructure Ord|18,750|-|-|18,750|16,313|1016| |1,300|GSK Ord GBP0.25|-|-|-|-|-|247| |930|Halma Ord|9,821|-|-|9,821|20,725|168| |470|Hargreaves Lansdwn Ord|7,607|-|-|7,607|4,027|239| |40,530|Henderson Investment European Sel Ops|37,868|-|-|37,868|48,960|823| |14,394|HICL Infrastructure|23,750|-|-|23,750|25,506|1188| |3,900|HSBC Holdings Plc Ord USD0.50 (UK Reg)|24,006|-|-|24,006|20,785|739| |30,000|HSBC Holdings Plc 5.75% Sub|37,041|-|-|37,041|32,660|1725| |2,610|ITM Power Ord|8,427|-|-|8,427|7,700|**-**| |24,946|INT Public Patrner Ord|34,909|-|-|34,909|41,535|1861| |165|Intertek Group Ord GBP0.01|5,764|-|-|5,764|7,649|174| |140|Invesco|18,074|-|-|18,074|19,774|**-**| |560|Ishares FTSE 500 Ucits Etf (inc) GBP|7,145|-|-|7,145|18,274|289| |14,907|I shares USD Treasury|-|71,492|-|71,492|71,479|**-**| |7,926|Ishares Ii Plc USD|49,619|(7,932)|152|41,839|41,837|320| |2,330|Jupiter Gbl|24,591|-|-|24,591|21,622|1064| |22,000|Jupiter Fund Mgrs|32,658|-|-|32,658|32,696|83| |22,700|JP Morgan Funds|-|33,825|-|33,825|35,026|68| ||Jackson Financial|-|-|(53)|-|-|**-**| |Carried forward||781,899|114,545|1,506|898,003|1,051,080|20101| **15** ## **THE HAILEYBURY SOCIETY** ## **NOTES ON THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MAY 2022** |**7. Investments (cont)**|**Book**|||**Book**|**Market**|**Dividends**| |---|---|---|---|---|---|---| ||**value**|**Purchases**|**Profit**|**value**|**value**|**and interest**| ||**31.5.2021**|**(Sales)**|**(Loss)**|**31.5.2022**|**31.5.2022**|**received**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Brought forward|781,899|114,545|1,506|898,003|1,051,080|20101| |3,400 Legal & General Gp Ord|8,323|-|**-**|8,323|8,828|176| |4,000 Londonmetric Prop Ord GBP0.10|7,732|-|-|7,732|10,232|358| |23,000 London Stock Exch. 4.75%|24,623|(23,000)|(1,623)|-|-|546| |165 London Stock Exch. Ord|12,735|-|-|12,735|12,215|157| |65,000 Mayfair Capital Inc Trust for Charities|66,179|-|-|66,179|64,776|2718| |10,550 Mercantile Investm Ord GBP0.25|15,516|-|-|15,516|21,575|727| |975 Mondi plc|18,246|-|-|18,246|14,998|533| |1,400 National Grid|13,425|(15,390)|1,965|-|-|691| |27,000 Nestle Finance 2.25%|27,237|-|-|27,237|27,360|608| |14,842 Pantheon Infrastructure|-|12,369|-|12,369|13,365|**-**| |1,410 Polar Cap Tech Tst GBP0.25|17,537|-|-|17,537|27,410|**-**| |490 Polar Capital Fund Global Technology GBP I|22,589|-|-|22,589|27,509|**-**| |1,300 Prudential GBP0.05|16,981|-|-|16,981|13,491|860| |24,000 Rabobank Nederland 0.25%|23,932|(24,000)|68|-|-|540| |140 Reckitt Ord 10p|8,786|(8,258)|(528)|-|-|244| |930 Relx plc GBP0.144|10,260|-|-|10,260|21,162|444| |600 Rio Tinto Ord GBP0.10|22,436|(4,242)|1,898|20,092|34,497|4539| |2,140 Royal Dutch Shell 'B' Ord EUR0.07|41,761|(41,761)|-|-|-|**-**| |1,500 Sage Group GBPO|9,013|(10,570)|1,557|-|-|265| |75 Schroder Inv Mgmt E ISF Asian|27,780|-|-|27,780|31,500|758| |18,100 Schroder Unit TSt Smaller Co|31,367|(34,448)|3,081|-|-|**-**| |1,350 Shaftesbury Ord GBP0.25|9,001|-|-|9,001|8,060|86| |2,140 Shell plc Ord Euro|-|17,097|(880)|16,217|19,755|1,411| |480 Smith &Nephew Ord USD0.20|4,577|-|-|4,577|6,210|138| |1,400 T. bailey Fund|21,500|162|-|21,662|20,049|163| |11,425 Templtn Emg Mkt|12,911|-|-|12,911|17,515|434| |4,894 Tesco Ord GBP0.06|14,070|(12,547)|(1,523)|-|-|291| |29,590 The Renewables Inf Ord|31,520|-|-|31,520|39,414|2000| |630 Unilever Plc Ord GBP0.031111|19,006|-|-|19,006|24,093|921| |1,200 Vanguard Funds plc|51,283|15|-|51,298|74,529|884| |310 Vontobel Asst Mgmt MTX Sust Asian Leader|34,943|-|-|34,943|35,352|**-**| |270 Whitbread Ord GBP0.76797385|9,312|(7,863)|(1,449)|-|-|**-**| ||1,416,480|(37,891)|4,072|1,382,714|1,624,975|40593| |Cash held by Investec Capital|20,357|(4,881)|-|15,476|15,476|-| ||1,436,837|(42,772)|4,072|1,398,190|1,640,451|40,593|