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2024-05-31-accounts

THE HAILEYBURY SOCIETY

TRUSTEES' REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024

Page 1

THE HAILEYBURY SOCIETY

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

Page 2 Index
Page 3 Reference and Administrative information
Page 4-7 Trustees' Report
Page 8 to 9 Auditors' Report
Page 10 Statement of Financial Activities
Page 11 Balance Sheet
Page 12 Cashflow Statement
Page 13 to 17 Notes to the Financial Statements

Charity Registration No: 310014

Registered address:

77 Railway Street Hertford Hertfordshire SG14 1RP

Page 2

THE HAILEYBURY SOCIETY

REFERENCE AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MAY 2024

The Executive Officers, Trustees, General Committee members and advisers who were in office on 31st May 2024 are listed below:

Chairman of Trustees I Colin Barber (K 61) President Lizzie Graham (nee Coldwells) (K 76 & Alb) Society Secretary I Jane Everard (nee Etherington) (L 76 & Alb) Treasurer I Rob Hall (E 69) General Committee Alison Baker (Former Staff) James Dahl (L 93) Sophie Day (C 11) Nick Down (A 74) Doug Everard (BF 73) Philip Huckin (B 67) Fiona Illingworth (nee Short) (BF 76 & Alb) I Catherine MacLeod-Smith (L & Alb 79) Andrew Nolan (BF 87) Charles Richards (LS & Th 02) Ben Tett (Th 92) I Scott Woods (LS & Th 01)

I - Investment Sub-Committee

Donald Macleod (A 50) acts as a Consultant to the 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.

Registered Office: The Haileybury Society, 77 Railway Street, Hertford, SG14 1RP

Bankers: National Westminster Bank Plc

National Westminster Bank Plc, 214 High Holbom, London, WC1V 7BX CCLA Charity Funds, 80 Cheapside, London EC2V 6DZ

Investment Management: Investec Wealth & Investment, 30 Gresham Street, London EC2V 7QN

Auditors: Minford Accountants, Moyola House, 31 Hawthorne Grove, York, YO23 7YA

Page 3

THE HAILEYBURY SOCIETY TRUSTEES' REPORT

YEAR ENDED 31 MAY 2024

Introduction

During the past year numerous meetings have taken place mainly with Martin Rayfield, the Chairman of the Haileybury Council, with a view to renewing the close cooperation required between the Haileybury Society and the School. Many matters of agreement have yet to be finalised, but they will be in the coming year. As anticipated in last year’s report the School together with the Society held a joint Foundation Day event that took place at Haileybury on Saturday 21st September 2024. This was a very successful event attended by over 100 Society members and guests.

Objectives and Organisation

The rules of the Society have been changed with the removal of the General Committee and, in addition to the Treasurer, the Society’s officers now include a paid Secretary and Assistant, who will be accountable to the Trustees, through the Chairman. Jane Everard continues on an annual contract as the paid Society Secretary and is assisted by Ashley Locke as Office Manager. Rob Hall will continue as Treasurer.

Fiona Illingworth is willing to be elected as President. Lizzie Graham will remain as a Trustee, in her capacity as Past President, having completed two years.

The remaining Trustees listed in this Report were all re-elected as Trustees at the AGM on the 2nd December 2023 and are willing to remain as Trustees for another year.

Colin Barber has agreed to serve one more year as Chairman of Trustees.

2024 Activities

Trustee meetings have taken place regularly during the year. At those meetings, there has always been a review of the progress of the cooperation agreement negotiations taking place with the School between various Trustees and Martin Rayfield as Chairman of the Haileybury Council and other representatives of Haileybury. In September 2024, the new Master, Eugene du Toit, has been welcomed in by the Society.

Our financial position has been well maintained by Rathbones (previously Investec) and been regularly overseen by our Investment sub-committee. Many thanks are due to all those on this sub-committee: John Cook, John Dodwell, Jane Everard, Richard Goldson, Robert Hall, Catherine Macleod-Smith and Scott Woods.

Since September 2023, Ashley Locke, has done a wonderful job as Office Manager.

Our branding and marketing consultant, Michael Smith of Red Page continued to provide on-going support and training until he left in May 2024.

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, Lizzie Graham, has been actively engaged at all our events during the year.

We were able to hold many other events this year, which are detailed in this annual report.

In planning our 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 being valued by our members.

Page 4

YEAR ENDED 31 MAY 2024

THE HAILEYBURY SOCIETY TRUSTEES' REPORT

Financial Results

The Statement of Financial Activities follows in the next pages.

Our total incoming resources were £88,474 (£4,525 less than last year). The total of Awards and Grants paid from both the Unrestricted and Restricted Funds were £5,391 less than last year.

Payments to clubs were £3,427 similar to last year. We held a number of events this year which were supported at a cost of £10,151. Haileyburiana sales after stock write offs showed a small profit of £1,176.

The regular costs of managing and administering the charity were £81,711 (£3,183 more than 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 total expenses ended up for the year at £180,453 being £151 less than last year, Our total expenses were £91,979 more than our income. However, this year we had a gain of £73,515 on sales and valuation of investments. Consequently, we ended the year with a negative movement in the value of our funds of just £18,464 reducing our total funds to £1,467,031 as at the 31st May 2024.

Financial Review

Basis of Preparation

The financial statements that follow have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. The Trustees are satisfied that The Haileybury Society has adequate resources to continue 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 Rathbones incorporating Investec Wealth and Investment (UK) 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.

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.

Source of funds

The running costs of the Society including the provision of membership services are met. 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.

Page 5

YEAR ENDED 31 MAY 2024

THE HAILEYBURY SOCIETY TRUSTEES' REPORT

The Future

Our unrestricted funds have been reducing for many years. As we remain committed to our objectives we will be raising funds from our members so that we can continue to provide services and arrange regular 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. The intention at the last AGM to continue fundraising activities to provide all these services for the benefit of our Members and the School has started slowly. We are hopeful that our continuing fundraising efforts will provide a more significant amount for the benefit of our Members and the School in the coming year. We have carried out a survey amongst our Members to obtain a sense of how we should act going forward.

Constitution, Structure, Governance and Management

The Haileybury Society was constituted as an unincorporated association on 2nd August 1957. It is a registered charity (Number 310014) and its governing document is its Rules, as ratified at the AGM in December 2023 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.

Statement of Trustees’ Responsibility

As ever, the Trustees are mindful of the Charity Commission’s guidance on public benefit in the execution of their 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:

-Select suitable accounting policies and then apply them consistently.

-Make judgements and estimates that are reasonable and prudent.

-State whether the policies are in accordance with applicable accounting standards.

-Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

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.

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.

Page 6

THE HAILEYBURY SOCIETY TRUSTEES' REPORT YEAR ENDED 31 MAY 2024

Thanks

Many thanks to all the Officers, Trustees and Members of the Society.

Our Society Secretary, Jane Everard, deserves special mention for all the duties she has carried out tirelessly. Our President, Lizzie Graham, has been fully engaged with moving forward with the cooperation agreement with the School and attending all the Society events.

Rob Hall, our Treasurer, has maintained our accounts carefully preparing the necessary budgets and coming up with ideas to raise funds.

Rathbones who took over Investec Wealth & Investment (UK), our Investment Manager, has continued to make the best use of our capital funds and deserve our thanks for maintaining these in what was another difficult investment financial year.

Michael Grant of Minford Accountants, York took over as our Statutory Auditor last year and has ensured our accounts are all in order.

I believe that the cooperation agreement with the School is moving forward and we can continue to remain a vibrant Society with full engagement at the School in the year ahead. There have been extremely constructive discussions very recently around a new pupil subscription model in future which will restore the Society’s running costs and allow the Society to focus its other income on its charitable activities in support of our membership and the school.

Signed on behalf of the Trustees

Colin Barber (K61) Chairman

Page 7

THE HAILEYBURY SOCIETY

INDEPENDENT AUDITOR'S REPORT

YEAR ENDED 31 MAY 2024

Opinion

We have audited the financial statements of The Haileybury Society for the year ended 31 May 2024 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.

Page 8

THE HAILEYBURY SOCIETY

INDEPENDENT AUDITOR'S REPORT

YEAR ENDED 31 MAY 2024

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.ftc.org.uk/auditors responsibilities. This description forms of our auditor's report.

Minford Chartered Accountants Moyola House 31 Hawthorne Grove York YO31 7YA

Dated:

Page 9

THE HAILEYBURY SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024

Incoming Resources
From Members
Legacies, special donations, events andgiftaid
Arm in Arm
Life subscriptions received
Annual subscriptions received
From Investments
Portfolio income (gross)
Bank interest (gross)
Total Incoming Resources (note 5)
Resources Expended
Charitable activities
Arm in Arm
Restart Lives
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
Legal and professional
Audit fee
Other
Investment management expense
Total Resources Expended
Net(Loss)Profit on sale and valuation of investments
Net Movement in Funds
Funds brought forward at 1 June 2023
Funds carried forward at 31 May 2024		 Unrestricted
Restricted and
Designated
2024
£
£
£
35,352
35,352
0
35,352
0
35,352
10,734
10,734
46,087
0
46,087
16,138
26,196
42,334
53
53
16,191
26,196
42,387
62,278
26,196
88,474
99
99
0
7,846
17,753
25,598
7,945
17,753
25,697
45,497
45,497
908
908
(1,176)
(1,176)
10,151
10,151
3,427
3,427
58,806
0
58,806
8,819
4,409
13,228
0
0
0
0
16,606
16,606
6,122
6,122
43,117
43,117
0
0
2,637
2,637
77,302
4,409
81,711
14,238
14,238
158,291
22,162
180,453
28,024
45,491
73,515
(67,989)
49,526
(18,464)
513,888
971,607
1,485,495
445,899
1,021,133
1,467,031		 2023
£
42,889
209
43,098
10,425
53,523
39,055
421
39,476
92,999
0
0
30,989
30,989
48,733
1,703
846
1,439
3,808
56,529
8,600
0
0
13,660
6,473
44,520
1,600
3,675
78,528
14,558
180,604
(77,906)
(165,511)
1,651,006
1,485,495

Page 10

THE HAILEYBURY SOCIETY

BALANCE SHEET AS AT 31 MAY 2024

Fixed Assets
Investments at market value
Book value - 2024 £1,398,955
Book value - 2023 £1,384,949
Current Assets
Stock of Hailcyburiana
(I)
Debtors and prepayments
Bank deposit accounts
Bank current accounts
Creditors: AmountsFallingdue Within One Year
Arm in Arm
Creditors and accruals
Net Current Liabilities
Net Assets
Funds
(4)
Restricted and Designated
Unrestricted
Approved bythe Trustees on
andsignedon their behalfby:
Lizzie Graham
President
Colin Barber
Chairman of the Trustees		 2024
1,478,416
1,478,416
10,919
10,235
1,056
14,359
36,569
(41,315)
(6,638)
(47,953)
(11,384)
1,467,032
949,445
517,587
1,467,032		 2023
1,498,407
1,498,407
12,948
10,727
1,205
7,747
32,627
(41,315)
(4,223)
(45,538)
(12,911)
1,485,496
971,607
513,888
1,485,495

Page 11

THE HAILEYBURY SOCIETY

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MAY 2024

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 debtors
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 2024
Analysis of the Balances of Cash as Shown in the Balance Sheet
Bank deposit accounts
Bank current accounts
At 31 May 2024		 2024
(18,464)
19,991
2,029
492
2,415
24,927
6,463
6,463
8,952
15,415
2024
1,056
14,359
15,415		 2023
(165,510)
142,044
5,026
943
(21,162)
126,851
(38,659)
(38,659)
47,611
8,952
2023
1,205
7,747
8,952

Page 12

THE HAILEYBURY SOCIETY

NOTES ON THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

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 structnre

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 £13,228 (2023: £12,600), who, until 30 April 2023 was also a trustee, in recognition of her work as secretary. On 1st May 2023 the Society Secretary became an employee of the Charity.

An Honorarium of £1,500 (2023: £1,500) was paid for services of the Society Treasurer.

3. Officers and Staff

The average number of employees during the year was 2 (2023: 1). No employee received remuneration over £60,000.

Staff costs:
Salary
Expenses
Social security and pension costs		 2024
£
37,173
15,314
6,237
58,725		 2023
£
25,168
7,722
32,890

Page 13

THE HAILEYBURY SOCIETY

NOTES ON THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

4. Fund Balances for th
Restricted
Colin Cobb
Roy Dore
Fawcett Family
RAHall
Matthews/Thomas
ASRussell
WE Russell
GR Smith
Designated Funds
DJ Cook
Alastair Macpherson
Ewen Macpherson
Michael Freegard
Unrestricted Funds
Life subscriptions
Whatton/General
Norman King
5. Calculation of
income surplus
Colin Cobb
Roy Dore
Fawcett Family
RAHall
Matthews/Thomas
AS Russell
WE Russell
GR Smith
Portfolio income-restr
Designated Funds
DJ Cook
Alastair Macpherson
Ewen Macpherson
Michael Freegard
Portfolio income and ban
Annual subscriptions
Legacies and special don
Life subscriptions receiv
Total Incoming Resour		 e Year
At 31.5.2023
Capital received
Donations and
life subscription
£
£
£
71,943
422,366
29,897
185,500
32,828
82,865
86,799
33,630
945,828
0
0
14,122
4,675
2,193
4,790
971,608
0
0
342,794
118,140
35,352
52,955
1,485,497
0
35,352
icted
k interest - unrestricted
ations
ed
ces		 Income surplus
(note 5)
Awards paid
Gain on
investments
£
£
£
1,689
3,521
9,470
(14,479)
19,776
655
1,367
4,195
(3,273)
8,763
719
1,500
1,860
3,882
1,902
3,970
735
1,536
21,225
(17,752)
44,315
306
640
101
213
50
103
105
221
21,787
(17,752)
45,492
(123,421)
21,672

(7,945)
2,477
3,874
(101,634)
(25,697)
73,515
Income
Membership
services
Other
expenses
£
£
£
2,028 -
(339)
11,388 -
(1,918)
787 -
(132)
5,046 -
(851)
864 -
(145)
2,235 -
(375)
2,286 -
(384)
885 -
(150)
25,519
(4,294)
368 -
(62)
123 -
(22)
59 -
(9)
127 -
(22)
26,196
0
(4409)
16,191
(58,806)
(91,540)
10,734
53,121
(58,806)
(95,949)
35,352
0
88,473		 At 31.5.2024 Awards
pledged
2023/24
£
£
77,153 -
437,133 -
31,919 -
195,185 -
35,047 -
88,607 -
92,671 -
35,901 -
993,616
0
15,068 -
4,989 -
2,346 -
5,116 -
1,021,135
0
241,045 -
148,024 -
56,829 -
1,467,033
0
Income
surplus
£
1,689
9,470
655
4,195
719
1,860
1,902
735
21,225
306
101
50
105
21,787
(134,155)
10,734
(101,634)
25,519
368
123
59
127
26,196
16,191
10,734
53,121
35,352
0
88,473

Page 14

THE HAILEYBURY SOCIETY

NOTES ON THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

6. Net movement of valuation of investments

At 31 May 2024
At 31 May 2023
7.Investments
24,000 A2D Funding Ii plc 4.5%
41 Adobe Inc
0 Air Prods & Chems
190 Alphabet Inc
118 Amazon Com Inc
259 Anglo American
173 Apple Inc
120 Astrazeneca Ord
11,017 Aquila Energy
674 Assa Abloy Ser
37 Asml Holding Nv
1,132 Atlas Copco Ab
0 Baillie Gifford American W3 Dis
0 BA Beutel Goodman
0 Baillie Gifford Japanses W3 Dis
0 Blackrock Fm Ltd
0 Blackrock Throgmor Ord GBP0.05
5 Booking Hldgs Inc
0 Brown Advisocy Fds US Sustainable
0 Bunzl Ord
0 Burberry Group
54,000 Charities Prop Fd Property Fund
0 Compass Group Ord
0 Croda Int
3,640 CT (lLux) Gbl
39 Danaher Corp
46 Deere & Co
724 Deutsche Telekom
0 DiageoOrd GBX28.935185
11 ELI Lilly and Co
139 Estee Lauder Cos
480 Experian Ord USD0.10
28,400 Federated Hrms
0 Federated Hrms Asia Jpn
0 Franklin Temp
0 GCP Infrastructure Ord
16,000 Goldman Sachs Grp
0 Halma Ord
14,394 HICL Infrastructure
27 Home Depot Inc
30,000 HSBC Holdings Plc 5.75% Sub
2,206 HSBC Holdings Plc Ord USD0.50 (UK Reg)
Carriedforward		 Market value
Cost value
Net movement
£
£
£
1,478,416
(1,398,955)
79,461
1,498,407
(1,384,949)
113,458
(19,991)
14,006
(5,985)
Book value
Purchases
Profit
31.05.2023
(Sales)
(Loss)
£
£
£
24,298
0
0
0
19,382
0
0
0
(2,541)
0
20,657
0
0
13,113
0
11,786
(5,432)
922
0
25,645
0
16,792
(11,035)
14,037
13,786
(2,769)
(158)
0
13,796
0
0
19,997
0
0
13,995
0
49,830
(49,830)
(3,307)
28,390
(28,390)
896
23,708
(23,708)
(3,856)
42,071
(42,071)
7,992
3,656
(3,656)
4,112
0
12,267
0
73,800
(73,800)
21,180
15,097
(15,097)
(763)
5,346
(5,346)
(1,027)
60,051
0
0
7,978
(7,978)
6,450
17,440
(17,440)
(6,067)
32,316
93
0
0
6,818
0
0
13,877
0
0
13,751
0
15,965
(15,965)
8,537
0
6,667
0
0
14,814
0
6,003
(1,035)
1,714
30,795
11,498
0
0
0
1,489
10,648
(10,648)
1,023
18,750
(18,750)
(8,541)
0
14,980
0
7,920
(7,920)
6,200
23,750
0
0
0
6,624
0
37,041
0
0
24,006
(10,427)
213
601,223
-123,323
48,505		 Book value
Market value
31.05.2024
31.05.2024
£
£
£
24,298
23,403
1,080
19,382
14,323
0
0
0
176
20,657
25,743
0
13,113
16,353
0
6,354
6,507
407
25,645
26,124
81
5,757
14,626
439
11,017
6,390
0
13,796
15,463
133
19,997
27,470
101
13,995
16,975
116
0
0
0
0
0
0
0
0
371
0
0
0
0
0
45
12,267
14,831
35
0
0
0
0
0
218
0
0
130
60,051
63,761
4,181
0
0
105
0
0
359
32,409
31,977
1,396
6,818
7,867
16
13,877
13,541
108
13,751
13,734
476
0
0
393
6,667
7,088
0
14,814
13,468
103
4,968
17,316
240
42,293
40,058
330
0
0
159
0
0
360
0
0
508
14,980
15,326
0
0
0
93
23,750
17,906
1,188
6,624
7,102
71
37,041
30,970
1,414
13,579
15,361
1,725
477,900
503,683
16,555
Dividends and
interest received

Page 15

THE HAILEYBURY SOCIETY

NOTES ON THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

7.Investments (cont)
Brought forward
71 Illinois Tool Wks
27 Intuitive Surgical COM
20,000 INT Public Patrner Ord
182 Invesco
429 Ishares V Plc MSCI
0 Ishares USD Treasury
Ishares Ii Plc Core
5,054 Ishares Ii Plc ISH MSCI
7,926 Ishares Ii Plc USD tips
JM Inv funds
110 Johnson & Johnson
22,000 Jupiter Gbl
169 JP Morgan Chase & Co
583 JP Morgan ETFS (Ire)
0 JP Morgan EFGS
0 JP Morgan Fund
4,000 JP Morgan Liquidity
36,661 Lazard Inv fds Emerging Markets
0 Lazard Invstmnt Fds Lazard Emg
165 London Stock Exch. Ord
19 Lvmh Moet Hennessy
8595 Mayfair Capital Inc Trust for Charities
0 Mercantile Investm Ord GBP0.25
17,154 M&G Invstmnt Fd Japan
102 Microsoft Corp
241 Mondelez Intl Inc
0 Mondi plc
152 Nestle SA
80 Nike Inc
176 Novartis Ag
161 Novo Nordisk Ser
11 Nvidia Corp
97 Palo Alto Networks
14,842 Pantheon Infrastructure
2,020 Polar Cap Tech Tst GBP0.25
0 Polar Capital Fund Global Technology GBP I
114 Procter & Gamble
0 Prudential GBP0.05
0 Relx plc GBP0.144
127 Rio Tinto Ord GBP0.10
0 Roche Hldgs Ag Genusscheine		 Book value
Purchases
Profit
31.05.2023
(Sales)
(Loss)
£
£
£
601,223
-123,323
48,505
0
13,612
0
0
6,360
0
27,988
0
0
24,052
0
0
0
25,515
1,679
69,491
(69,491)
(3,760)
14,849
(14,849)
268
0
21,655
0
41,839
5
0
37,762
(37,762)
17,156
0
13,851
(130)
24,591
(24,591)
(5,415)
0
20,801
0
0
18,542
6,235
54,472
(54,472)
3,074
33,825
(33,825)
(547)
11,000
(7,000)
0
0
35,126
0
27,616
(27,616)
0
12,735
0
0
0
13,401
0
66,179
(57,428)
(15,610)
5,824
(5,824)
1,885
0
21,621
0
0
29,962
0
0
12,813
0
18,246
(18,246)
(4,775)
0
13,605
0
0
6,781
0
0
13,519
0
0
13,454
0
0
7,399
0
0
21,909
0
14,867
0
0
14,795
0
0
22,589
(22,589)
10,501
0
13,718
0
16,982
(16,982)
(5,288)
10,260
(10,260)
16,749
20,092
(15,839)
8,932
0
0
490
1,171,277
-216,448
79,949		 Book value
Market value
31.05.2024
31.05.2024
£
£
£
477,900
503,683
16,555
13,612
13,538
157
6,360
8,528
0
27,988
24,940
1,586
24,052
32,158
0
25,515
27,520
0
0
0
0
0
0
914
21,655
23,912
686
41,844
37,946
1,324
0
0
845
13,851
12,672
234
0
0
257
20,801
26,898
307
18,542
22,383
296
0
0
0
0
0
0
4,000
4,000
409
35,126
40,144
1,294
0
0
0
12,735
15,116
190
13,401
11,905
122
8,751
6,367
2,432
0
0
115
21,621
24,362
88
29,962
33,259
102
12,813
12,972
162
0
0
195
13,605
12,646
399
6,781
5,973
47
13,519
14,277
518
13,454
17,067
118
7,399
9,472
0
21,909
22,469
0
14,867
11,977
594
14,795
17,951
270
0
0
0
13,718
14,733
222
0
0
67
0
0
520
4,253
6,954
1,085
0
0
0
Dividends and
interest received
954,829
1,015,822
32,109

Page 16

THE HAILEYBURY SOCIETY

NOTES ON THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2024

7.Investments (cont)
Brought forward
26,520 Royal London Bd Fd
177 SAP Se Ord
1,288 SSE plc
78 Schneider Electric
93 Schroder Inv Mgmt E ISF Asian
29,200 Schroder Inv Fd
306 Schwab (Charles) CP
269 Shell plc Ord Euro
41 S&P Global Inc
35 Thermo Fisher Scie
29,590 The Renewables Inf Ord
261 Totalenergies Se EUR2
0 Unilever Plc Ord GBP0.031111
35,410 UK ( Gov) 0.425% Gilt Gtd
25,710 UK ( Gov) 0.425% Snr 07/03/36
16,700 UK ( Gov) 0.425% Snr 07/06/32
7,000 UK ( Gov) 0.425% Snr 07/12/27
32,560 UK ( Gov) 0.475% Snr 07/12/30
21,000 UK ( Gov) 0.375%
47 Unitedhealth Grp
0 Vanguard Funds plc
102 Visa Inc
270 Walt Disney Co
85 Zoetis
Cash held by Investec Capital		 Book value
Purchases
Profit
31.05.2023
(Sales)
(Loss)
£
£
£
1,171,277
-216,448
79,949
0
29,951
0
0
22,432
0
15,068
7,175
0
0
13,936
0
27,780
7,644
0
15,105
0
0
0
13,856
0
16,217
(10,714)
4,859
0
12,849
0
0
13,794
0
31,520
0
0
0
15,043
0
19,006
(19,006)
5,265
0
32,910
0
0
25,311
0
0
16,889
0
0
7,046
0
0
32,866
0
16,812
0
0
0
20,752
0
39,729
(39,729)
19,552
0
20,323
0
0
19,220
0
0
11,531
0
1,352,514
37,631
109,625
43,535
1,396,049
37,631
109,625		 Book value
Market value
31.05.2024
31.05.2024
£
£
£
954,829
1,015,822
32,109
29,951
31,479
644
22,432
25,138
333
22,243
22,582
825
13,936
15,126
232
35,424
39,503
878
15,105
13,274
106
13,856
17,613
153
5,503
7,564
843
12,849
13,767
46
13,794
15,614
21
31,520
29,649
2,125
15,043
14,911
0
0
0
598
32,910
34,494
2,192
25,311
25,595
571
16,889
16,773
0
7,046
6,984
0
32,866
33,627
1,094
16,812
16,601
79
20,752
18,287
140
0
0
379
20,323
21,829
63
19,220
22,037
64
11,531
11,321
24
1,390,145
1,469,590
43,518
8,810
8,810
1,398,955
1,478,400
43,518
Dividends and
interest received

Page 17