Sir Francis Nethersole Summary of Information – Annual Return 2021
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Charity Number: 528717 – Sir Francis Nethersole’s School Foundation
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Charity Number: 252829 – Ecclesiastical Charity of Sir Francis Nethersole
Both of Charities are effectively run as one by the same trustees and the same Chairman. The aims of both charities are to provide educational and religious training and activities, for the young and elderly of Warwickshire – more specifically - Polesworth and Warton.
The Trustees have now all but concluded the reorganization of the charity scheme and will shortly be able to action new measures to support the beneficiaries of the Charities however COVID-19 affected the legal process of finalizing the documents and transfer of assets.
When the new scheme is up and running the trust can move forward with new projects and ideas to support the local area in the specified religious and educational activities have been discussed amongst the Trustees.
A planning application was approved for conversion of the redundant scout hut (school hall) in Warton into two residential dwellings and it is hoped that the conversion of the accommodation will allow for two new houses for occupation by local families.
Once approved and converted, the site at Warton will then be fully owned by the Trust and let out to residential, commercial and agricultural tenants with a safe return and capital value. With the rent receivable able to be reinvested or used for property repair and returns.
Income to the charity is provided by the returns from the investment portfolio held in each charity’s name as well as interest on monies held in the bank – the investment managers have confirmed that the portfolios are managed on a policy that has a moderate attitude to risk.
Much of the income detailed in the accounts comes from the sale of investments and rent from the Warton School House, with the payments being purchases of alternative investments. The property repair expenditure dropped significantly as there is only now one redundant building within the control of the Charity.
Financially, the two charities accounts remain in a healthy position, with a strong portfolio of property investment, stocks & shares and a good bank balance. The balances boosted following the sale of The Polesworth Site in and the rental income – not to mention the capital growth of the investments held by BRI.
SIR FRANCIS NETHERSOLE FOUNDATION FINANCIAL ACCOUNTS YEAR ENDED 31ST DECEMBER 2021 WRIGHT & CO CHARTERED ACCOUINTANTS 2 LONGROOD ROAD BILTON RUGBY WARWICKSHIRE CV22 7RG
Accouf4TS OF THE CHAIUTIES KNOWIY AS SIR FRANCIS NETHERSOLE FOUNDATION, POLFSWORTH GOVERNORS The Lord of the Manoi olPole5WOrth's Nominee The Vicar of Polesworth Father P Wells Nominee of the Wanvi¢kshire County Council Mi D Parsons Notninee of the Polesworth Parish COU11 ClkOPTED COVKRNORS Mr D Butcher Mrs M Willis Mr A Jone5 MTS J Bailey FOR THE YEAR ENDED 31sr DECEMBER 2021 CLERK: Mr T J Howard Howkins & Harrison LLP 7-1 l Albert Street Warwick5hire CV218RX ACCOUNTANIS . Wtight & Co Chartered A¢couni#nts 2 LOngr< Road Bilton Rugby Warwickshtre CV22 7RG
SIR FRANCIS NETHERSOLE FOUNDATION Page I ECCLESIASTICAL CHARITY REcEiYfs & PAYMENTS ACCOUNT FOR TIIE YEAR ENDED 31ST DECEMBER 2021 2021 2020 RECEIFrs Dividen(& received Disposal of investments 1030 53187 1246 53768 54217 55014 PAYMENTS Investment managels fees Puicha5e of investments Polesworth PCC Transfer (o SclM)ol Charity due ¢0 Bank account clogjre 914 63420 2 2464 871 46392 67998 47263 Excess of receipts over payments Balance in hand at l st January 2021 -13781 15510 7751 7159 Balance in hand at 3 1st Derernbcr 2020 1729 15510 NOTE . Balance in hand at 3 1st De¢ember 2021 is= Current aceounl BRI A( Management alc 1564 6195 1729 1729 7759
SIR FRANCIS NETHERSOLE FOUNDATION Page 2 ECCLESIASTICAL CHAIUTY SCHEDULE OF IP4VL8TMENTS HELD AT JIST DECEMBER 2021 Market value at 31.12.21 Incorne rec'd durl IncoTne ree'd Durin 2020 1778 ARC TIME UK Infrastructure Inc 1951 Trojan X Ibcitr 2986 Artemis Coq)orate Bond Fund 2110 GLG UTrdervalued Assets Fund 3171 Baillie Gifford High Yield Bond 382 Baillie Gifford Emerg¢Ng MaTkts Growth FUD 487 Baillie Gifford European Net B Baillie Gifford Responsible Global 379 Royal Londort UK Equity Inc M 793 BB Healthcare Trust 5851 JupiteT SÉrdtegic Bond Fund 2 Pi¢ket Indian Equities GCP Infr&%tnJeture Invast*ts 39.158 Muzinich" Global 1400 Regnan Sustaillable Water & W8Ste Fund 568 Seraphim Space Investmeni Trust 992 Liotjtrust SITategi¢ Bond M Ir 1325 Liontrusl Spectal Sithations cla Inc Lion TnLSt Global DÈvÈdend Fund 91 Baillie Gifford Japanese B In¢ 10 Personal AssetTru51 980 M & G Global LÉsted Ijllra 5884 Jupiter ABS Rettttn 1464 Artemis US Smaller Companies 1506 Premier Miton US OppoertUDittes 1569 Rathbone Ethi¢al T1 2635 TM RWF UK Equity 4444 BNY Melton Global 6048 VT Gravis Listed Property 5622 Evenlode Global ItKome HSBC FfsE25 2796 HSBC FTSE 250 tndcx 1806 LF Gresham House 2024.54 2511.91 3239.54 71.62 1.93 66.86 48.80 4236.27 3179.45 2337.38 109.92 48.40 76.21 198.62 1593.93 28.84 75.51 165.68 1301.54 1497.50 712.27 IOi4.68 7037.(h) 67.99 56.04 67.39 140.73 66.76 1629.22 28.00 41.94 8.59 l338_82 5.15 5382.29 5775.08 67.58 57.1 44.35 111.74 100.06 76.18 54.96 208.06 31.59 16.88 7492.81 5978.53 4462.49 71.09 62785.25 1030.27 1245.87 Market value at 31 December 2020 46368.3 1
SIR FRANCIS NETHERSOLE FOUNDATION Page 3 . SCHOOLCHARITY RECEIPTS & PAYMEwfs ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2021 2021 2020 RECEIPTS Rents School House. Wartotl Land at Warton ICritchl¢y) Unidentified 8650 225 10800 150 256 31 28061 11206 20982 130 506786 Dividends (page 4) Interest Disposal of investments Transfer from Ecclesiastical Charity due to Bank account closure 146068 2464 185624 539104 PAYMENTS Insurance AccoutkraThcy Investment manageS fees Rates and water Donation of bibles Heal & light Purchase of investments Repairs Legal & professional Property TnanagemenÉ fees 2585 810 16009 4084 877 33 252890 4923 5010 1503 2479 1080 15270 196 818 321 597325 622 9562 1336 288724 629009 Exc¢55 of receipts over payments -1031(NJ -89905 Balance in hand at Isr January 2020 226748 316653 Balance in hand 31 st December 2020 123648 2?6748 NOTE: Balance in hand at 3 1st December 2021 is -. Bank accounts BRI account 70316 53332 45206 271447 123648 316653
2lR FRANCIS NETHKRSOLE FOUNDATION P4gt4 SCHOOI. CHARITY SCHEDULE OF INVLSTMENTS HELD AT31ST DECEMBER 221 Mk¢1 v4 at 31.1211 kncome ree durin 202 79777 Schrixl¢r Global Equity kncith¢ 37196 LXI Rcit PLC 28851 InfTa5ttucTh]rc tnv¢5nnents 20791 GCP Ass¢t Backed Jiipiier Absote Rtrdtn 7338 LioDtrust Strthgic Bond 5425 R¢wol London UK Equity 82397 Jupiter SirtteBlc Ba 12678 LFGrC5h House UK Mirn>Cap 30356 Warehus¢ Rtht PeF50nal A5sdTn 453 Bunzi Ord 289 Caledonia ]nv 630 Gtsxo &nith ]ne 2850 BP Otd PractI1 462 RELX Ord 625 Jmperial Bratrjs 785 R1 Dutch Shcll 286 D13geo Ord 17389 M&GGlob ASI Emer M waVert Jokn Lain8 Ocw Rertewab]t 845 Stnjth & Ncphew 701.89 1345.40 1029. 1341.02 89.76 5J.93420 31.274.48 20,167.27 1 S.79 1418.54 I>.84 7.797.57 473.24 295.71 1444.44 406.( 24.53 945.18 215.fll 53.69).41 2.09 I3..05 11.762.30 10,121.58 9,419.25 10,1)68.55 11.097.24 221.36 195.IM 224.24 442.83 769.26 197.58 273.29 I l&k.68 463.50 248.08 642.95 536.51 116&32 468.33 lo7. 672.85 128.67 315.85 12.735.84 1 I.542.96 23.748.16 31hS.43 lQ930. 182.25 199.79 281 Unilever(kd 14256 BB Hea1¢are 61263 BNY M¢liOnGiobd [De 9045 Mel kndu5tsic50rd J1427 AtctCmi5 CO[p( Bund Schtodcr A5i4n Z 11.W.86 2&654.56 69,968.47 14.462.96 SI,8 376.83 306.91 148&14 JS8. 274.1 1257.46 767.20 389.89 2.21 722.12 1748 Ph(kmix Gro 3740 Gr4in8er Ord 46852 TB EvthbJeGkbAI tmcixnec 48980 LioDttusl GloTrMI Fmd M 23093 Urblln Logk%tKs RErr 8647 TP ICAP (Yd 713 Cbs¢ Brothers Group 32135 Tro)kn X Jrt(Knt TM RWC UK EqviryJrKome 23697 Llnyds Bank Group 4325 Bdlfour Beait 1684 vLslryGrP 17310 Rathknne Eth1 27193 gall1 CiitTord ElailIKGiffordRestb]E Equity 29937 ARe'rE 52609'fL4 GNine5s(thbg1 766 frIArgrcaSVc5 L2T>s<kn 17675 Lifc Scicncc REfT Unic(Th UK Small¢r CryiesB 761 Compass crfp Ord 9491 Trv ONt 334 Whiibrcad Ikd 14977 Pantheon Infr4truwre 2995 Pfjniheon 5uLwlr sbu¢s 47 Piclct Indian 13549 Scraphim Spaw JTrv¢5trne 11.417.94 11,781.IX) 69,921.92 7A57&56 43.183 91 10.149.97 10.010.52 41.374.13 575.02 2fA.58 I4).1X) 1547.81 I.33 252. 844.52 4%9.99 201.63 168. 363.20 9) 8.58 62 227.64 IW.63 681.20 732.24 138S72 1191.84 1101.68 1132.96 242.79 11.3n.17 11.3Jl.XJ 19.938J6 17.845.39 36.3_ty.85 1,022.23 34.095.25 67,229.04 10.379.30 17.895_94 4J3.13 12.564.11 10,492.30 IIL(K)3.30 1S.W).74 149 75 30.58&19 16.9W.45 28¢)49.44 2(lJ71.08 COIF Inwrnc Shar¢s 53.754.(Xl 1 197 865.24 28(.79 20982.25 Kknrket Yalup ¥ 31 Dxembcr 2020 940,095.51 d at WItLdmill F3rn4 Warto Scout Hut Prem8 Wam WArt(m S¢lKx)l Nutscry Ctrtchky VI1
SIR FRANCIS NETHERSOLE FOUNDATION Page 5 ACCOUNTANTS REPORT FOR THE YEAR ENDED 31ST DECEMBER 2021 In accordance with our engagement letter we hav¢ wmpiled the financial tnformation of The Francis Nethersole Foundaiion which Comprises Receipts & Payment Accounts from the accounting records atKi frottt inlorniation and explanations you have givell to us. The financial infomiation is not intended to achieve full compliance wilh the provisions of UK Generally Accepted Accounting Principles. This report is tnade to y(Tru in accordance with the ternis of our engagement. Our work has been undertaken so that we might Compile the futhncial information that we have been engag io compile, report to you that we have done so, and stste those mallers that we have agreed io state to you in this report and for no other purpose. To Ihe fullest extent perniitted by law, we do not accept or assume responsibility to aTtyon¢ other than The Francis Nether501e Foundation. for our work, or for this report. We have carried out this engagement in accordance with the techni] guidance issud by the Insiitute of Chartered Accountants in England and Wales and have complted with the ethical guidance laid down by the Instithte. You have approved the fll)ancial inforniaiion for the period stst above and have acknowledged your responsibilty for it, for the appmpriateness of the accounting basis and foi providing all infornwtion and explanations necessary for it's compilation. We have noi verified the accuracy or completeness of the accounting record5 or information and explanations you have given to us and we do not. therefore, express any opinion on the fillaneial inforniation. Wri t&Co Ch er¢d Accountants 2 Longrood Road Bilton RUGBY Warwickshire CV22 7RG 15 Sept¢ber 2022
SIR FRANCIS NETHERSOLE FOUNDATION Page S ACCOUNTANTS REPORT FOR THE YF.AR ENDED 31ST DECEMBER 2021 In accordance with our engagement letter we have cornpiled the financial infoTmation of The Franci5 Nethersole Foundation which comprises Receipts & Payment Accounts from the arKounting records and from infonnation and explanations you have given to us. The financial iftforfftation is noi intended to achieve full compliance with the provisions of UK Generdlly ACcepd Accountiftg Principles. This rewrt l5 made to you in accordance with the temis of our engag¢ment. Our work has been undertaken so that w¢ might compile the financial inforniation Ihat we have been engaged to compile, report to you ihat we have done so. and State those matters that we have agreed to state 10 you in this report and for no oiher putP05e. To Ihe fullest exteni permitted by law, we do not accept or assume responsibility to anyone oiher than The Franci5 Nethersole Foundatio for our work, or for this tfport. We have carried out thi5 engagement ITr accordance with the technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ¢thical guidance laid down by the Institute. You have approved the financial information for the period stated above and have acknowledged yOr responsibilty for it, for the appropriateness of the accounting basi5 and for providing all infortnation and explanations necessary for ivs compilation. We have not verified the accuracy or completeness of the cOunting rerdS or information and explanations you have given to us and we do noL therefore, express any opini¢)n on the rinancial infottnation. Wri t&Co Ch ered A¢countant5 2 Longrovd Road Bilton RUGBY WaTwickshire CV22 7RO 15 Septeber 2022