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##
|onsolidated
and||Col|lege Balance Shee|ts as at|30June 2023||||
|---|---|---|---|---|---|---|---|---|
||||||2023|2023|2022|2022|
||||||Consolidated|College|Consolidated|College|
|||||Note|6000|Fooo|5000|5000|
|Non-current
Assets|||||||||
|Fixed assets|||||121,777|121,777|122,364|122,364|
|Heritage assets|||||||||
|Investments|||||138,972|138,972|137,012|137,012|
|Total non-current|assets||||2eo,749|260,749|259,376|259,376|
|Current assets|||||||||
|Stocks||||10|201|201|184|184|
|Trade and other receivables||||11|1,194|1,427|964|963|
|Cash and cash equivalents||||12|5,948|5.505|5,583|5,429|
|Total current assets|||||7,343|7,133|6,731|6,576|
|Creditors: amounts||falling due within one||13|(2,583)|(2,460)|(2,035)|(1,905)|
|year|||||||||
|Net current assets|||||4,760|4,673|4,696|4,671|
|Total A88ets le88|current liabilities||||2es,soo|265,422|264,072|264,047|
|Creditors: amounts||falling due aRer more||14|(25,368)|(25,368)|(25,314)|(25,314)|
|than one year|||||||||
|Provisions|||||||||
|Pension provisions||||16|(1,112)|(1,112)|(975)|(975)|
|Other provisions||||15|(27)|(22)|(50)|(50)|
|Total net assets|||||239,002|238,920|237,733|237,708|
|Restricted reserves|||||||||
|Income and expenditure|||reserve—|17|99,739|99,739|98,890|98,890|
|endowment
reserve|||||||||
|Income and expenditure|||reserve —restricted|18|7,410|7,410|6,641|6,641|
|reserve|||||||||
|Unrestricted
Reserves|||||||||
|Income and expenditure|||reserve—||131,853|131,771|132,202|132,177|
|unrestricted|||||||||
|Total Reserves|||||239,002|238,920|237,733|237,708|
##
|orthe year ended 30Ju|ne 2023||||||
|---|---|---|---|---|---|---|
||||||2023|2022|
|||||Note|f000|6000|
|Net cash inflow from operating
activities||||20|(2,563)|(1,469)|
|Cash flows from investing|activities|||21|1,784|(3,643)|
|Cash flows from financing|activities|||22|(597)|(597)|
|Increase/(decrease)
in cash and cash||equivalents|in the year||(1,376)|(5,709)|
|Cash and cash equivalents
Cash and cash equivalents|at beginning
at end ofthe|ofthe year
year||1289|10,425
9,049|16,134
10,425|
##
##
|ort|he year ended 30Ju|ne 2023|ne 2023|ne 2023|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|1|Academic fees and|charges|||||||||||||2023|2022|
||||||||||||||||f000|8000|
||Colleges fees:||||||||||||||||
||Fee income received|at|the Regulated||||Undergraduate||||rate||||1,223|1,272|
||Fee income received|at|the Unregulated|||||Undergraduate|||rate||||463|404|
||Fee income received|at|the Graduate||||rate||||||||697|671|
||Other income||||||||||||||18|24|
||Cambridge
Bursary Scheme|||(restricted)|||||||||||150|131|
||Total||||||||||||||2,551|2,502|
|2|Income from accommodation,||||catering|||and conferences|||||||2023|2022|
||||||||||||||||8000|8000|
||Accommodation|||||||College members|||||||2,775|2,650|
|||||||||Conference|||||||480|165|
||Catering|||||||College members|||||||528|541|
|||||||||Conference|||||||322|73|
||Total||||||||||||||4,105|3,429|
|3|Endowment
return|and investment|||||income||||||||2023|2022|
||||||||||||||||8000|8000|
|3a|Analysis||||||||||||||||
||The total return
contribution|||is|calculated|||as|set out in||the accounting||policy|on|4,189|4,095|
||recognition ofincome and endowment||||||return||||||||||
|3b|Summary
oftotal return||||||||||||||||
||Income from:||||||||||||||||
||Land and buildings||||||||||||||2,000|1,945|
||Quoted securities||||||||||||||2,715|2,145|
||Income from short-term||investments||||||||||||65||
||Gains/(losses)
on endowment||||assets:||||||||||||
||Land and buildings||||||||||||||(905)|1,395|
||Securities and cash||||||||||||||2,548|(3,203)|
||Investment
management||costs||(see nots|||3c)|||||||(318)|(384)|
||Total return for year||||||||||||||8,105|1,898|
||Total return
transferred||to income and||||expenditure|||reserve (see||note|3a)||(4,189)|(4,095)|
||Unapplied
total|return||for||year||included|||within|Statement||of|1,916|(2,197)|
||Comprehensive
income and||||Expenditure||||(see note||19)||||||
|or t|he year end|e|d 30June|d 30June|2|023||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|3c|Investment||management|||costs||||2023|2022|
|||||||||||EOOO|EOOO|
||l.and and buildings|||||||||||
||Securitie|||||||||318|337|
||Other investments||||||||||47|
||Cash|||||||||||
||Total|||||||||318|384|
|4|Education|expenditure||||||||2023|2022|
|||||||||||EOOO|EOOO|
||Teaching|||||||||1,528|1,677|
||Tutorial|||||||||1,422|1,002|
||Admissions|||||||||1,062|734|
||Research|||||||||555|363|
||Scholarships||and awards|||||||858|349|
||Other educational|||facilities||||||936|924|
||Total|||||||||6,361|5,049|
|5|Accommodation,|||catering and conferences expenditure||||||2023|2022|
|||||||||||EOOO|f000|
||Accommodation|||College members||||||4,307|4,143|
|||||Conferences||||||745|258|
||Catering|||College members||||||820|846|
|||||Conferences||||||500|114|
||Total|||||||||8,372|5,361|
|Ba|Analysis of||2022I2023 expenditure||||by activity|||||
|||||||||Staff|Other|||
|||||||||costs
(note 7)|operating
expenses|Depreciation|Total|
|||||||||EOOO|EOOO|f000|EOOO|
||Education|(note 4)||||||2,769|3,234|358|6,361|
||Accommodation,
catering||||and conferences|||2,570|2,635|1,167|6,372|
||Other|||||||357|106||463|
||Investment|management|||costs||||318||318|
||Contribution||under|Statute||G,ll|||40||40|
||Interest payable on loans||||||||597||597|
||USS pension||provision||||||-231||-231|
||Totals|||||||5,898|6,699|1,525|13,920|
##
|Notes|to the Accounts|to the Accounts|||||||
|---|---|---|---|---|---|---|---|---|
|Forthe year ended||30June|2023||||||
|sb|Analysis of2021/2022 expenditure|||by activity|||||
||||||Staff|Other|||
||||||costs|operating|||
||||||(note 7)|expenses|Depreciation|Total|
||||||f000|f000|f000|f000|
||Education (note|4)|||2,623|2,071|355|5,049|
||Accommodation,|catering|and conferences||2,309|1,896|1,156|5,361|
||Other||||143|23||166|
||Investment
management||costs|||384||384|
||Conhibution
under Statute G,ll|||||42||42|
||Interest payable|on loans||||597||597|
||USS pension
provision|||||837||837|
||Totals||||5,075|5,850|1,511|12,436|
##
##
|Auditors'
remuneration||||||||2023
f000|2022
f000|
|---|---|---|---|---|---|---|---|---|---|
|Other operating expenses include:||||||||||
|Audit fees payable to the College's|external|auditors||||||33|28|
|Other fees payable to the College's|external|auditors||||||1|2|
|Total||||||||34|30|
|Staffcosts||||College|||Non-|2023|2022|
|||||Fellows||academic||Total|Total|
|Consolidated||||f000|||f000|f000|f000|
|Staffcosts:||||||||||
|Salaries||||1,510|||3,380|4,890|4,338|
|National
Insurance|||||104||315|419|358|
|Pension costs|||||196||190|386|379|
|||||1,810|||3,885|S,OOS|5,075|
||Average||staff|numbers|2023||Average|staff numbers|2022|
||Number||of|Number||of|Number of||Number of|
||Fellows||||Staff|||Fellows|Staff|
|Academic|||56|||||56||
|Non-academic|||3|||97||4|92|
##
##
##
##
|ort|he year ende|d|30|Ju|ne 2|02|3|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||Investments|||||||||||
|||||||||Consolidated|College|Consolidated|College|
|||||||||2023|2023|2022|2022|
|||||||||6000|6000|5000|f000|
||Balance at|beginning|||of|year||137,012|137,012|134,574|134,574|
||Additions|||||||2,058|2,058|64,893|64,893|
||Disposals|||||||||(59,802)|(59,802)|
||Gain/(loss)|||||||1,643|1,643|(1,808)|(1,808)|
||Transfers (nots 8)|||||||||||
||Increase/(decrease)||||in cash||balances|(1,741)|(1,741)|(845)|(845)|
||held at fund|managers||||||||||
||Balance at|end ofyear||||||138,972|138,972|137,012|137,012|
||Represented||by:|||||||||
||Property|||||||46,883|46,883|46,278|46.278|
||Securities|||||||68,587|68,587|66,132|66,132|
||Private placement|||investments||||20,401|20,401|19,760|19,760|
||Investments||in subsidiary|||undertakings||||||
||Cash in hand||and|at investment||||3,101|3,101|4,842|4,842|
||managers|||||||||||
||Totals|||||||138,972|138,972|137,012|137,012|
|10|Stocks and|work||in|progress|||||||
|||||||||Consolidated|College|Consolidated|College|
|||||||||2023|2023|2022|2022|
|||||||||6000|5000|5000|6000|
||Goods for resale:|||catering||||30|30|28|28|
||Wine Cellar|||||||171|171|156|156|
||Other stocks|||||||||||
||Total|||||||201|201|184|184|
||Trade and|other receivables||||||||||
|||||||||Consolidated|College|Consolidated|College|
|||||||||2023|2023|2022|2022|
|||||||||5000|5000|5000|6000|
||Members ofthe College|||||||208|207|213|204|
||Amounts||dus||from||subsidiary||288||71|
||undertakings|||||||||||
||Other receivables|||||||466|412|367|304|
||Prepaymsnts||and|accrued||income||520|520|384|384|
||Total|||||||1,194|1,427|||
|12|Cash and cash equivalents|||||||||||
|||||||||Consolidated|College|Consolidated|College|
|||||||||2023|2023|2022|2022|
|||||||||5000|8000|5000|5000|
||Short-term|money||market||investments||3,120|3,120|||
||Current accounts|||||||2,828|2,385|5,583|5,429|
||Cash in hand|||||||||||
||Total|||||||5,948|5,505|5,583|5,429|
##
##
|ort|he year end|ed 30Ju|ne 2023|ne 2023||||||
|---|---|---|---|---|---|---|---|---|---|
|13|Creditors:|amounts|falling due within||one year|||||
||||||Consolidated||College|Consolidated|College|
|||||||2023|2023|2022|2022|
|||||||f000|f000|f000|f000|
||Bank overdrafi|||||||||
||Trade creditors|||||389|386|374|374|
||Members ofthe College|||||211|211|198|192|
||Amounts due to subsidiary|||undertakings|||||28|
||University|fees||||45|45|170|170|
||Contribution|to Cofieges Fund||||||||
||Other creditors|||||967|850|389|237|
||Bank loans|||||||||
||Accruals and deferred||income|||971|968|904|904|
||Total|||||2,583|2,460|2,035|1,905|
|14|Creditors:|amounts|falling due after||more than|one year||||
||||||Consolidated||College|Consolidated|College|
|||||||2023|2023|2022|2022|
|||||||f000|f000|f000|f000|
|||||||25,000|25,000|25,000|25,000|
|||||||222|222|167|167|
|||||||146|146|147|147|
||Total|||||25,368|25,368|25,314|25,314|
|15|Provisions|Provisions|||||||
|---|---|---|---|---|---|---|---|---|
||||||Consolidated|College|Consolidated|College|
||||||2023|2023|2022|2022|
||||||f000|f000|f000|f000|
||Balance|at beginning|of|year|50|50|160|160|
||Charge|to comprehensive||income|||||
||Utilised|in year|||(23)|(28)|(110)|(110)|
||Balance at end ofyear||||27|22|50|50|
##
##
|orth|e year ended 30June 2023|e year ended 30June 2023|e year ended 30June 2023|e year ended 30June 2023||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|16a|Pension provisions —Cambridge||||Colleges Federated Pension Scheme(CCFPS)|||||||
|||||||Consolidated||College||Consolidated|College|
||||||||2023||2023|2022|2022|
||||||||6000||6000|6000|6000|
||Balance at beginning|ofyear|||||443||443|214|214|
||Movement
in year:|||||||||||
||Current
service
cost||including||life|||||(27)|(27)|
||assurance|||||||||||
||Contributions||||||24||24|24|24|
||Other finance (income)/cost|||||||||||
||Actuarial
loss/(gain)||recognised||in||(432)|(432)||232|232|
||Statement
of Comprehensive|||Income||||||||
||and Expenditure|||||||||||
||Balance at end ofyear||||||30||30|||
|16b|Pension provisions —Universities||||Superannuation||Scheme|(USS)||||
|||||||Consolidated||College||Consolidated|College|
||||||||2023||2023|2022|2022|
||||||||OOOO||6000|6000|6000|
||Balance at beginning|ofyear||||(1,420)||(1,420)||(809)|(809)|
||Movement
in year:|||||||||||
||Current
service
cost||including||life|||||||
||assurance|||||||||||
||Contributions||||||94||94|32|32|
||Other finance (income)/cost||||||184||184|(843)|(843)|
||Actuarial
loss/(gain)||recognised||in|||||||
||Statement
of Comprehensive|||Income||||||||
||and Expenditure|||||||||||
||Balance at end ofyear|||||(1,142)||(1,142)||(1,420)|(1,420)|
|16c|Pension provisions —Church|||of|England|Funded|Pension Scheme||(CEFPS)|||
|||||||Consolidated||College||Consolidated|College|
||||||||2023||2023|2022|2022|
||||||||6000||6000|6000|6000|
||Balance at beginning||ofyear||||2||2|4|4|
||Movement
in year:|||||||||||
||Current
service
cost||including||life||(1)||(1)|(2)|(2)|
||assurance|||||||||||
||Contributions|||||||||||
||Other finance (income)/cost|||||||||||
||Actuarial
loss/(gain)||recognised||in|||||||
||Statement
of Comprehensive|||Income||||||||
||and Expenditure|||||||||||
||Balance at end ofyear|||||||||||
##
##
|ort|he year ended 30Ju|ne 20|23|||||
|---|---|---|---|---|---|---|---|
|17|Endowment
funds|||||||
||Restrictsd net assets|relating to endowments||are as follows:||||
||||Restricted||Unrestricted|||
||||permanent||permanent|2023|2022|
||Consolidated
and College||endowments||endowments|Total|Total|
|||||8000|EOOO|EOOO|6000|
||Balance at beginning|ofyear||||||
||Capital|||38,579|60,311|98,890|98,899|
||New donations
and endowments|||45||45|443|
||Investment
Income:|Total|return|93|498|591|(3)|
||recognised
in the l&E|||||||
||Expenditure:|Investment||(6)|(312)|(318)|(278)|
||Management
costs|||||||
||Increase/(decrease)|in|market|1,058|(485)|573|(386)|
||value ofinvestments|||||||
||Transfer between
funds|||(42)||(42)|215|
||Balance at end ofyear|||39,727|60,012|99,739|98,890|
||Analysis
by type ofpurpose|||||||
||Fellowship
Funds|||18,990||18,990|18,451|
||Scholarship
Funds|||8,264||8,264|7,968|
||Prize Funds|||1,408||1,408|1,368|
||Hardship
Funds|||2,973||2,973|2,868|
||Bursary Funds|||5,450||5,450|5,359|
||Travel Grant Funds|||77||77|71|
||Other Funds||||60,012|60,012|2,494|
||General endowments|||2,565||2,565|60,311|
||Total|||39,727|60,012|99,739|98,890|
||Analysis
by asset|||||||
||Property|||900|45,983|46,883|46,277|
||Investments
and cash|||38,827|14,029|52,856|52,613|
||Total|||39,727|60,012|99,739|98,890|
##
||||||||Permanent|Permanent|Other|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Capital|||unspent|and|restricted|||
||||||grants||restricted||donations|2023|2022|
|Consolidated
and||College||unspent|||income||Total|Total|Total|
||||||8000|||8000|5000|5000|8000|
|Balance at beginning|||ofyear|||||||||
|Capital||||||||2,305||2,305|2,394|
|Accumulated
income||||||||3,933|403|4,336|3,939|
|New donations|||||1,035||||586|1,621|297|
|Endowment
return||transfened||||||1,199||1,199|255|
|Other investment|income||||||||||(6)|
|Increase/(decrease)||in|market value|||||65||65|(84)|
|ofinvestments||||||||||||
|Transfer between|funds|||||||3||3||
|Expenditure|||||||(1,460)||(659)|(2,119)|(154)|
|Capital grants utilised||||||||||||
|Balance at end of||year|||1,035|||6,045|330|7,410|6,641|
|Capital||||||||2,372||2,372|2,305|
|Accumulated
income|||||1,035|||3,673|330|5,038|4,336|
||||||1,035|||6,045|330|7,410|6,641|
|Analysis ofother||restricted funds/donations|||by|type|ofpurpose|||||
|Fellowship
Funds||||||||1,277||1,277|1,606|
|Scholarship
Funds||||||||1,181||1,181|982|
|Prize Funds||||||~||163||163|186|
|Hardship
Funds||||||||1,924||1,924|1,928|
|Bursary Funds||||||||548||548|643|
|Travel Grant Funds||||||||13||13|15|
|Other Funds|||||1,035||||330|1,365|1,281|
|General||||||||939||939||
||||||1,035|||6,045|330|7,410|6,641|
##
##
||Included
within reserves the follo||in|g
a|m|oun|ts
represen|t the Unappl|ied
Total Return ofthe|College:||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2023|2022|
|||||||||||f000|f000|
||Unapplied
Total Return at beginning|||ofyear||||||80,974|83,171|
||Unapplied
Total Return for year (see note|||||3b)||||1,916|(2,197)|
||Unapplied
Total Return at end|of||year||||||82,890|80,974|
|20|Reconciliation
ofconsolidated||surplus|||for the year||to net cash|inflow from operating|activities||
|||||||||||2023|2022|
|||||||||||f000|f000|
||Surplus/(deficit)
for the year|||||||||1,711|(2,833)|
||Adjustment
for noncash
items|||||||||||
||Depreciation|||||||||1,525|1,511|
||Investment
income|||||||||(4,780)|(4,090)|
||(Loss)/gain
on endowments,
donations||||and||investment|property||(1,643)|1,808|
||Decrease/(increase)
in stocks|||||||||(17)|(3)|
||Decrease/(increase)
in trade and||other||receivables|||||(231)|418|
||Increase/(decrease)
in creditors|||||||||603|226|
||Increase/(decrease)
in provisions|||||||||(23)|(110)|
||Pension costs less contributions||payable|||||||(296)|816|
||Foreign Exchange movement|||||||||(9)|191|
||Adjustment
for investing
orfinancing|||||activities||||||
||Investment
income|||||||||||
||Interest payable|||||||||597|597|
||Profit on the sale of non-current|assets||||||||||
||Net cash inflow/(outfiow)
from||operating||||activities|||(2,563)|(1,469)|
|21|Cash flows from investing
activities|||||||||||
|||||||||||2023|2022|
|||||||||||f000|f000|
||Proceeds from sales of non-current|||fixed||assets||||||
||Non-current
investment
disposal||||||||||59,802|
||Investment
income|||||||||4,780|4,090|
||Endowment
funds invested|||||||||(2,058)|(64,893)|
||Withdrawal
ofdeposits|||||||||||
||Payments
made to acquire non-current||||assets|||||(938)|(2,642)|
||Total cash flows from investing|||activities||||||1,784|(3,643)|
|22|Cash flows from financing
activities|||||||||||
|||||||||||2023|2022|
|||||||||||f000|f000|
||Interest paid|||||||||(597)|(597)|
||Interest element offinance lease||rental||payment|||||||
||New unsecured
loans|||||||||||
||Repayments
ofamounts
borrowed|||||||||||
||Capital element offinance lease||rental||payments|||||||
||Total cash flows from financing|||activities||||||(597)|(597)|
##
|23|Analysis|ofca|sh and cash|equivalents||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||At|||
||||||||beginning|Cash|At end of|
||||||||ofyear|flows|year|
||||||||6000|6000|6000|
||Bank overdraRs|||||||||
||Cash at bank and in hand||||||10,425|(1,376)|9,049|
||Net Funds||||||10,425|(1,376)|9,049|
|24|Consolidated||reconciliation|and analysis of||||||
||net debt|||||||||
||||||At 30||New|Other|At 30|
||||||June|Cash|finance|non-cash|June|
||||||2022|Flows|leases|changes|2023|
||||||6000|6000|6000|6000|9000|
||Cash and|cash equivalents||(note 1289)|10,425|(1,376)|||9,049|
||Borrowlngs:|||||||||
||amounts|falling due within||one year||||||
||Secured loans|||||||||
||Unsecured|loans||||||||
||Bank overdraR|||||||||
||(subtotal)|||||||||
||Borrowlngs:|||||||||
||Amounts|falling due after more than one year||||||||
||Secured loans||(Note 14)||(25,000)||||(25,000)|
||||||(25,000)||||(25,000)|
||Net total|debt|||(14,575)|(1,376)|||(15,951)|
##
##
##
|25|Financial instruments|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023|2022|
|||||||||6000|6000|
||Financial assets|||||||||
||Financial assets al fair value|through||Siaiemeni ofComprehensive|||income|||
||Listed equity investments
(note||9)|||||88,988|85,892|
||Other investments|||||||||
||Financial assets that are debt instruments|||||measured at amoriised cost||||
||Cash and cash equivalents|(note 12|||69)|||9,049|10,425|
||Other equity investments|||||||||
||Other debtors (note 11)|||||||1,194|964|
||Financial liabilities|||||||||
||Financial liabilities at fair value through||||Statement ofComprehensive||Income|||
||Forward foreign currency contracts|||||||||
||Financial liabilities measured|at amoitised||||cost||||
||Bank overdrafi|||||||||
||Loans (note 14)|||||||25,000|25,000|
||Trade creditors (note 13)|||||||389|374|
||Other creditors (note 13&|14less above)||||||2,562|1,975|
|26|Capital commitments|||||||||
|||||||||2023|2022|
|||||||||6000|6000|
||Capital commitments
at 30June||2023||are|as follows:||||
||Authorised
and contracted|||||||1,200||
||Authorised
but not yet contracted||for|||||||
##
|||2023|2022|
|---|---|---|---|
|||6000|6000|
|I and and buildings:||||
|Expiring|within one year|||
|Expiring|between
two and five years|||
|Expiring|in over five years|||
|Other||||
|Expiring|within one year|||
|Expiring|between
two and five years|||
|Expiring|in over five years|||
##
##
##
##
##
|The current
life expectancies
on retirement|at age 65are:|||||
|---|---|---|---|---|---|
|||||2023|2022|
|Males currently
aged 65(years)||||24.0|23.9|
|Females currently
aged 65(years)||||25.6|25.5|
|Males currently aged 45(years)||||26.0|25.9|
|Females currently
aged 45 (years)||||27.4|27.3|
|A new deficit recovery plan was put in place|as part ofthe 2020 valuation,||which requires payment of6.2%ofsalaries|||
|over the period
1 April 2022 until 31 March 2024, at which||point the|rate|will increase to 6.3%.The 2022 deficit||
|recovery
liability reflects this plan. Ths liability figures have been produced||||using the following assumptions:||
|||||2023|2022|
|Discount rate||||552%|3.31%|
|Pensionable
salary growth||||500%|2.00%|
|Cambrid
e Colts es' Federated
Pension|Scheme|||||
|uarial as|sumptions|at the bala|nce sheet date were as follows:|||
|---|---|---|---|---|---|
|||||2023|2022|
|||||%p.a.|%p.a.|
|Discount|rate|||5.20|3.80|
|Increase|in salaries|||3.30|3.25|
|RPI assumption
CPI assumption||||3.40*
2.80*|3.45*
2.75*|
|Pension
Pension|increases
Increases|in payment
in payment|(RPI Max 5%p.a.)
(CPI Max 2.5%p.a.)|3.30*
2.05'|3.30*
2.05*|
##
##
|anges
in the
ing 30June|fair value ofthe plan assets
2022) are as follows:|for the year ending 30Jun|e 2023 (with comparative
fi|gures for the year|
|---|---|---|---|---|
||||2023f|2022|
|Market value|ofplan assets at beginning|of period|7,659,841|9,241,974|
|Contributions|paid by the College||24,287|23,820|
|Employee
contributions|||6,762|6,419|
|Benefits paid|||(328,077)|(315,907)|
|Administrative|expenses
paid||(16,992)|(16,046)|
|Interest on plan assets|||285,088|163,706|
|Return on assets, less interest included||in Profit &Loss|(1,283,679)|(1,444,125)|
|Market value|ofplan assets at end of|period|6,347,230|7,659,841|
|Actual return|on plan assets||(998,591)|(1,280,419)|
|||||2023|2022|
|---|---|---|---|---|---|
|Return
on assets,|less interest included|in Income and Expenditure||(1,283,679)|(1,444,125)|
|Expected less actual plan expenses||||(1,820)|(874)|
|Experience gains|and losses arising on|plan liabilities||(458,061)|(673,307)|
|Changes
in assumptions
underlying||||||
|the present value|of plan liabilities|||1,311,910|2,349,924|
|Remeasurement|ofnet defined benefit liability recognised||in OCI|(431,650)|231,618|
|year ending|3|0June 2022) ars as|follows:||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||6|6|
|Surplus/(deficit)||in plan at beginning|ofyear||443,155|214,353|
|Recognised|in|Income and Expenditure|||(5,180)|(26,636)|
|Contributions|paid by ths Cofiegs||||24,287|23,820|
|Remeasurement||ofnet defined benefit liability recognised||in OCI|(431,650)|231,618|
|Net defined|benefit asset/(liability)||at end ofyear||30,612|443,155|
##
##
##
##
|||December 2022|December 2021|December 2020|
|---|---|---|---|---|
|Discount rate||n/a|0.0%pa|0.2%pa|
|Price inflation
Increase to total pensionable|payroll|n/a
n/a|n/a
-1.5%pa|3.1%pa
1.6%pa|
##
##
##
##
|The salaries paid to Trustee|s
in the year are summarised
in the table belo|w:||
|---|---|---|---|
|||2023|2022|
|From|To|Number|Number|
|EO|E10,000|40|33|
|E10,001|E20,000|9|6|
|E20,001|f30,000|6|7|
|E30,001|E40,000|4|2|
|E40,001|f50,000|4|2|
|E50,001|E60,000|1|4|
|E60,001
E70,001
E80,001
f90,001|E70,000
f80,000
f90,000
f.100,000|0
0
1
3|0
1
1
2|
|E100,001|E110,000|||
|f110,001|E120,000||1|
||Total|68|59|