OpenCharities

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

2023-06-30-accounts

RT1:Report ofthe Trustees
Aims and Objectives. . .. ......
Public Benefit..
Equality,
Diversity and inclusion		 .. .,6
Freedom ofSpeech. ,.6
College Funding.
Achievements
and Performance.		 .
Financial
Review .		 14
Principal
Risks and Uncertainties.		 21
Plans for the Future ......21
Statement ofcorporate governance . 23
Statement ofinternal
controls.		 „24
Responsibilities
ofthe Governing		 Body.. 2S
Independent
Auditors'
Report to the Governing		 BodyofSt Catharine's College, Cambridge. „„ .„..„26
RT2:Financial Statements
Statement of Principal Accounting Policies.. 30
Consolidated
Statement ofComprehensive		 Income and Expenditure. 38
Consolidated
Statement ofChanges		 in Reserves. .39
Consolidated
and College Balance		 Sheets.. ..40
Consolidated
Cash Flow Statement.		 ..41
Notes to the Accounts ..42

B de ree ~Bender ~Bori in
PRD 190 Female 177 Home 152
Masters 135 Male 188 International 220
Clinical Vets/Medics 43 Other
Certificate 0 4 Total postgraduate
student		 body: 372
Postgraduate Studies This headcount includes students
writing		 up or in the
process ofsubmitting
their		 thesis

Reserves 30June Purpose Purpose
2023
Emillion
Restricted reserves:
Income and expenditure reserve: 73.6 Donors have specified
that		 the funds be
endowment reserve permanently invested to generate an income. Most
ofthese endowments have a specific direction as to
use
Income and expenditure reserve: 11.6 Donors have specified that the donation must be
restricted reserve used for a particular objective
85.2
Unrestricted reserves:
30June 2023 30June 2022
Emillion Emillion
Total reserves 174.8 171.2
Less: restricted reserves (85.2) (98.8)
Less: fixed and heritage assets (79.5) (72.8)
Add back: fixed assets funded by restricted donations 15.3
Free reserves 11.2 14.9
5TCATHARINE'5 5TCATHARINE'5 COLLEGE, CAMBRIDGE FOR THE YEAR ENDED 30JUNE 2023 FOR THE YEAR ENDED 30JUNE 2023
Report ofthe Trustees
Reserve Target Rationale
Emillion
Income contingency 4.0 Contingency to cover extreme/unexpected
shortfall		 in
most
'vulnerable' income streams equivalent
to 18 months'		 external
conference income (average of last three pre-pandemic years)
and 12months'
unrestricted		 donations
income
Capital expenditure 2.0 Two years of capital expenditure
excluding
major projects that
are separately
funded through		 fundraising
or loans. This		 provides
cover for the additional
investment
required
to implement
a
planned
preventative		 maintenance
programme
Expenditure contingency 2.5 Contingency to cover additional
extreme/unexpected
expenditure such as a major estate repair or increase
in		 the cost
of utilities
TOTAL 8.5

m
ON
N
IU
Z		 DI
0
Ll
IO		 CO
CO
o
N		 8
0
I		 OI
o
CUo		 01C
CO
CO
n co
nn		 01C
CO
CO
n co
nn		 01
CC
Ol		 CI
01
CO		 O
N
IA		 IA
n		 N
Ol		 N
CO
CC		 CO
Ct
ID
IO
m
0
IU		 c L
41		 IO CO AlIN CO Ol
CI		 01
CI
CI
CI		 N N
CD W
g E IU
IU
Z
CC0
IL		 IA
0		 '0
410
I
IO
41		 ~C
01
ON
CI
W		 ' ' COOI
CO		 CO
CO
Cl		 o NN
I
CC
41
OD
IOa
C0		 on I IO
OCO
CO N		 Cl
CD
CO		 Cl
CO
CI		 IA
41
0L
41
NB
o 0
N
I		 CO
O
CO
ol
W
Cl n		 N 01
IA
CD
ON
IA		 IA
CON
IO		 IA
IXI		 N
O
CO		 CO
AI		 CO
CO
I
IA		 CO
Ol		 N
CO		 CI
Ol
CD
Cl		 Ol
CI		 CO
CO		 N
CO
IO
CI		 CO CA IA IA
41 W
IU
CD 0o CD
N		 CI
N		 Ol
CI		 CON IA N
CO
IO		 IA
I		 IA
CO
v o
W
I
01
C		 N
IA
Cl		 N
CO
C		 CD
IA
CD		 IO
C		 IO o CO
01		 Ol n
C IO
CI
CI		 n IA Cl
CD
CL
X
IU		 L W
CI
8C 00Z
41 0
IO IOL
IB0
CC
40
5
ICE
40
IU
0u
IA
Z
CC
5		 C
Ol
\
a
E
u
0
v
v
IO
IA
41
IO		 41
E000		 IO
CC
CDL0
C1
ID
0
E
ID'0		 IO
0
41
ID
41
00'0
IO
ID
00
0E
E08
«C		 C
41
E
Vl
41		 41
C
g
E
E
C
41
E
0
CDL
CU		 41
E
8L
41
0		 O
0
IO00'0
0
I„
8L
8 CD
0
I		 ID
IO
IC
0
OfL00		 0
z		 'D
C
IL
IC
ID
410
Lt
E
C
IO		 IC
IDI
I		 41
E00C
IO
0I-		 L0o8
CU		 IO
IDtlC0
C00'0
tO
L
'L
ID
0
C0
IO'00EE		 ID
X
ID
ID
0		 IA
41'0C
C0
CD
0O		 00
I		 41
00
0
410
N
E		 0
41
e0		 IC
IDI
IDX
tl
0
13
0
IO
Cl0
Ol0		 IO
I
41
00
IO
IO
0		 0
I0
0
IC
410
O		 C
41
41
00
I
41		 IDCI
0
IDO.
Cl
ID
IO
IC0
L
IC
CD
IC
0
O		 IO
41
E0		 41
I
Cl
Cl
E0
I		 OO
g E0
UI
X
~
IC0
IL		 m
IO
0
Ett
EO
41		 OI Ol
0		 ED
CI
CV		 0
Ol		 e! 000 IID CO
Cl		 Ctl ID
CO
I
Oh Ot
C0 Ol
Ll
EU0C
Ol		 E
0'0C
IU		 N
CI
CI
CI
EIC		 Ol Ol
lh
CO		 N
Ol
0		 L
ED
E
0
C
IU		 N
Cl
OI		 Ol
CI		 Ol
CI
CV		 Ct
CO		 0
f0
Ol
t
EO
CI
EO
DL '0 IU
t0
V
I/I
IC
'0
C
E
8		 '0
ID
ID
IL'		 Ih
CI
CI
EII
CI		 Ch
OE
Ol		 Cl
ID		 4l
TlC
OI
4I
E
00
C		 N
NK		 lh
CI
Cl
Cl
Etl		 Ctl lh
CEI		 Ol
E
EU
EO
Ol
ID
t
EO
OL
EU
Ih
IU
Ol
CO		 CV Nl LIC
Ol
CEI CEE CV
'C N El
'C		 N C
N
ID
CD		 Cl
ttt		 th
Ol
C		 Ol IU
t
10
EO
i
Q
O		 N
2
4l
IL
C
O
Ce		 N9
13L
Na
X0
Ol		 Ol
C
C
Ol		 Ol
ID		 ED2l3C
Ola
X
ED
'0L
EO
N		 Ol
C
C
NO.
Eh
th'0		 ID IU
ttl
E
+0C
IU
t
EO
OD
CC
Nl
g
0V
Ut
Z		 0
v
E
v
I/I		 EO
0
CEI		 E0
C
0
E
0
L		 E
8C
Ol
fh
N
41		 IO
13
Vl
ID		 N
IL'
~d
'8
C
IL		 CEI
Cl
EO
OlC
1
CI		 CEI
CEI		 E
8C
0		 C
Ol
NC
N
N		 9
'EO
'0
fh
N		 IDK
DO
l3C
IL
C
ED		 CEI
CEI
Ct
CEI
4lC
Cl		 Ol
OD
4I
0
13
EO
10
EUf
EO
'x
I		 8
N		 ID0 C
Olj E		 E00
ID		 0
Ol
N
ID		 Jl
Ol		 IO
8
IO		 8
IO		 NO
N
E.		 C
NE
N		 ID 0
ID
N
Ol
Ol		 Cl
Ol
C		 IO
8
N		 0
tflC0
IO
IS		 M N
ul		 NK I- IO
IQ		 N
IQ		 CE& EO
N		 0 Tl
IL		 I- N
IQ		 Ol
I-

2023 2023 2022 2022
Consolidated Colic e Consolidated Coils e
Note EOOOs 5000s f000s EOOOs
Non-current
Assets
Fixed assets 76,263 76,369 69,592 69,641
Herita
eassets		 3,285 3,285 3,209 3,209
Investments 128,412 128,412 132,095 132,095
Total non-current
assets		 207,960 208,066 204,896 204,945
Current assets
Stocks 10 581 154 210 172
Trade and other receivables 2,926 2,961 1,905 2,080
Cash and cash e uivalents 12 319 189 1,156 949
Total current assets 3,826 3,304 3,271 3,201
Creditors:
amounts
one year		 falling due within 13 (3,430) (2,901) (2,770) (2,692)
Net current assets 396 403 501 509
Total Assets less current liabilities 208,356 208,469 205,397 205,454
Creditors: amounts
more than one year		 falling due after 14 (31,000) (31,000) (31,000) (31,000)
Provisions
Pension provisions 15 2,510 2,510 3,191 3,191
Total net assets 174,846 174,959 171,206 171,263
Restricted reserves
Income and expenditure
endowment
reserve		 reserve— 16 73,593 73,593 72,970 72,970
Income and expenditure
restricted reserve		 reserve— 17 11,603 11,603 25,845 25,845
85,196 85,196 98,815 98,815
Unrestricted
Reserves
Income and expenditure
unrestricted		 reserve— 89,650 89,763 72,391 72,448
Total Reserves 174,846 174,959 171,206 171,263

onsolidated
Cash Flow S		 tatement
2023 2022
Note 8000s 8000s
Net cash Inflow from operating
activities		 19 (789) 3,489
Cash flows from investing activities 20 1,063 (1,669)
Cash flows from financing activities 21 (1,111) (1,110)
Increase/(Decrease)
in cash and cash		 equivalents in the year (837) 710
Cash and cash equivalents at beginning ofthe year 1,156 446
Cash and cash equivalents at end ofthe year 12 319 1,156

TCA
otes		 THARINE'5
COLLEGE, CAMBRI
to the Accounts		 THARINE'5
COLLEGE, CAMBRI
to the Accounts		 D GE FOR THE YEAR ENDED 30JUNE 20
Academic fees and char es 2023 2022
5000s 5000s
Colts es fees:
Fee income received at the Re ulated Under raduate rate 1,955 2,053
Fee income received at the Unre ulated Under raduate rate 606 555
Fee income received at the Graduate rate 936 931
Sub-total 3,497 3,539
Other income 291 300
Total 3,788 3,839
Income from accommodation, caterin and conferences 2023 2022
EOOOs 5000s
Accommodation:
Coils e members 2,911 2,771
Conferences 578 141
Sub-total 3,489 2,912
Caterin:
Colts e members 1,095 830
Conferences 468 142
Sub-total 1,563 972
Total 5,052 3,884
Endowment
return and investment		 income 2023 2022
8000s 5000s
3a Anal sis ofInvestment Income
Total return
contribution		 see note 3c 3,675 3,649
Other Investment
Income		 462 473
Net income transfened to income and ex enditure reserve
Total 4,357 4,122
3b Anal sis ofInvestment Gains 2023 2022
EOOOs 5000s
Gains/ losses
on endowment		 assets:
Land and buildin
s		 132 720
Quoted and other securities and cash 720 4,263
852 3,543
Gains/ Losses
on other assets:
Quoted and other securities and cash 329 840
Total 1,181 4,383

TCA
otes		 THARINE'5
COLLEGE, CA
tothe Accounts		 THARINE'5
COLLEGE, CA
tothe Accounts		 THARINE'5
COLLEGE, CA
tothe Accounts		 THARINE'5
COLLEGE, CA
tothe Accounts		 MBRI DGE FO R THE YEAR E NDED 30JUNE 202
3c Summa
ofTotal Return		 2023 2022
EOOOs EOOOs
Income from:
Land and buildin s 284 271
Quoted securities 2,796 2,573
Unit Trusts 365 314
Income from short-term investments 372 120
3,817 3,038
Gains/ Losses on endowment assets see note 3b 852 3,543
Investment
mana		 ament costs and loan interest see note 3d 109 51
Total return for ear 4,560 556
Total return
transferred		 to income and ex enditure reserve see note 3a 3,875 3,649
Unapplied
total
Comprehensive		 return
Income		 I (loss) for year
and Expenditure		 included
(see note		 within
18)		 Statement of 685 (4,205)
3d Investment
mana
ament		 costs and loan interest 2023 2022
EOOOs EOOOs
Land and buildin s 102 31
Quoted securities - e cities 20
Endowment
Loan Interest
109 51
Other
I oan interest and		 costs 594 594
Total 703 645
Education ex nditure 2023 2022
EOOOs KOOOs
Teachin 2,766 2,666
Tutorial 1,622 1,210
Admissions 2,040 1,562
Research 929 825
Scholarshi
s and		 awards 361 676
Other educational facilities 407 408
Total 8,125 7,747

othe Accounts othe Accounts
Accommodation, csterin and conferences sx enditure 2023 2022
EOOOs 6000s
Accommodation:
Coils e members 2,594 2,711
Conferences 1,540 1,231
Sub-total 4,134 3,942
Caterin:
Coils e members 1,831 1,608
Conferences 1,013 640
Sub-total 2,844 2,248
Total 8,978 6,190
Anal sis of 2022/2023 ex nditure b activit
Staff costs
(note 7)		 Other
operating
expenses		 Depreciation Total
KOOOs EOOOs 6000s KOOOs
Education 3,281 4,408 436 8,125
Accommodation, caterin and conferences 3,016 2,843 1,119 6,978
Other 263 339 602
Statute G,ll 28 28
Totals 8,560 7,618 1,555 15,733
Expenditure includes fundraising costs ofE423,497. This expenditure excludes the costs ofalumni relations.

Auditors' remuneration remuneration 2023 2022
EOOOs 6000s
Other operatin ex enses include
Audit fees a able to the Coils e's external auditors 33 26
Other fees a able to the Colts e's external auditors
Totals 34 26

Fixed assets Fixed assets Fixed assets
Consolidated College
buildings
and Site		 College
houses
and
hostels		 Plant,
fixtures
and
fittings		 Assets
Under
Construction		 2023 Total 2022 Total
EOOOs 6000s EOOOs 6000s 6000s EOOOs
Cost or valuation
Atbe
innin		 of ear 50,294 16,394 379 19,766 86,833 74,336
Additions 174 77 7,975 8,226 12,635
Transfers 14,256 91 2,874 17,221
Dis peals 137
Atend of ear 64,550 16,659 3,330 10,520 95,059 86,833
De reciation
At be
innin		 of ear 13,977 3,152 112 17,241 16,078
Char efor the ear 1,105 284 166 1,555 1,217
Eliminated on dis peals 54
At end of ear 15,082 3,436 278 18,796 17,241
Net book value
Atendof ear 49,468 13i223 3,052 10,520 76,263 69,592
Atbe
innin		 of ear 36,317 13,242 267 19,766 69,592 58,258
Calle e
Cost or valuation
At be
innin		 of ear 50,295 16,437 379 19,771 86,882 74,381
Additions 174 77 8,032 8,283 12,638
Transfers 14,256 91 2,874 17,221
Dis peals 137
Atendof ear 64,551 16,702 3,330 10,582 95,165 86,882
Depreciation
At be
innin		 of ear 13,978 3,151 112 17,241 16,079
Char eforthe ear 1,106 283 166 1,555 1,216
Eliminated on disposals 54
At end of ear 15,084 3,434 278 18,796 17,241
Net book value
Atendof ear 49,467 13,268 3,052 10,582 76,369 69,641
Atbe
innin		 of ear 36,317 13,286 267 19,771 69,641 58,302
The insured
value offreehold		 land and buildings as at 30June 2023 was f182,880,994(2022:f168,616,915).

otes tothe Accounts
15 Pension
rovisions
Consolidated 8 Coge e USS CCFPS CEFPS Total 2023 Total 2022
f000s 6000s 6000s 6000s KOOOs
Balance atb
innin		 of ear 1,186 2,003 3,191
4,741
Movement
in
ear:
Current
service
assurance		 cost including life 85 118 203
1,143
Contributions 277 241 520 497
Other finance cost 39 77 116 81
Actuarial
(gain)
/		 loss recognised in
Statement ofComprehensive Income and (480) (480)
(2,277)
Expenditure
Balance at end of ear 1,033 1,477 2,510
3,191
16 Endowment
funds
Restricted net assets relatin to endowments are as follows:
Consolidated
8 College		 Restricted
permanent
endowments		 Unrestricted
permanent
endowments		 Total
2023		 Total
2022
EOOOs f000s EOOOs EOOOs
Balance at be innin of ear
Ca
ital		 71,616 1,354 72,970 75,079
New donations
and		 endowments 273 839 1,112 823
(Decrease)/Increase
of investments		 in market value 459 470 (2,932)
Transfer between
Funds		 1,237 278 959
Balance at end of ear 71,111 2,482 73,593 72,970
Anal sisb
pe of		 ur ose
Fellowshi
Funds		 25,459 25,459 25,239
Prizes 1,123 152 1,275 1,304
Travel Awards 271 731 1,002 1,049
Home Bursaries 6,149 6,149 7,928
Graduate
Bursaries		 30,503 30,503 30,304
Overseas Bursaries 4,307 4,307 4,280
Grants 1,378 459 1,837 795
Other 1,399 1,399 1,343
General Endowment 522 1,140 1,662 728
Grou
Total		 71,111 2,482 73,593 72,970
Anal sis b asset
Pro e 3,483 122 3,605 4,792
Investments 61,392 2,142 63,534 60,184
Cash 6,236 218 6,454 7,994
Grou
Total		 71,111 2,482 73,593 72,970

TCA
otes		 THARINE'5
COLLEGE, CA
to the Accounts		 THARINE'5
COLLEGE, CA
to the Accounts		 MBRID GE FO R TH E YEAR ENDE D 30JUNE 2
17 Restricted Reserves
Reserves with restrictions are as follows:
Permanent
Consolidated $College Capital
grants		 unspent
and other		 Restricted
expendable		 2023 Total 2022 Total
unspent restricted endowment
income
EOOOs EOOOs EOOOs EOOOs EOOOs
Balance at be innin of ear
Ca
ital		 16,986 3,086 20,072 17,420
Accumulated
income		 5,737 36 5,773 5,948
New
rants		 1,123 1,123 3,329
New donations 309 1,049 1,358 1,371
Endowment
return
transferred		 2,859 57 2,916 2,846
Other investment
income
Increase/(decrease)
value ofinvestments		 in market 37 16 53 (289)
Ex enditure 3,123 592 3,715 3,535
Ca
ital
rants utilised		 16,929 16,929
Transfer between
Funds		 42 991 952 1,245
Balanceatendof ear
Ca
ital		 1,183 4,614 5,797 20,072
Accumulated
income		 5,777 29 5,806 5,773
Analysis ofother restricted funds/donations
b
t
eof
ur ose
Fellowshi
Funds		 2,690 938 3,628 3,803
Prizes 273 279 273
Travel Awards 229 229 254
Home Bursaries 1,905 2,549 724
Graduate
Bursaries		 478 478 475
Overseas Bursaries 1,257 1,257 1,243
Grants 1,183 104 1,307 2,594 17,461
Other 66 487 553 1,576
General Endowment 36 36 36
Grou
Total		 1,183 5,777 4,643 11,603 25,845

TCA
otes		 THARINE'5
COLLEGE, CAMBRIDGE
tothe Accounts		 THARINE'5
COLLEGE, CAMBRIDGE
tothe Accounts		 FOR THE YEAR ENDED 80 jUNE 202
18 Memorandum
ofUna
lied Total		 Return
Included
within reserves the followin		 amounts represent the Unap lied Total Return ofthe Colic e:
2023 2022
EOOOs KOOOs
Una
lied Total Return at be
innin		 of ear 32,254 36,459
Una
lied Total Return/
Loss for		 ear see note 3c 685 4,205
Una
lied Total Return at end of		 ear 32,939 32,254
19 Reconciliation
ofconsolidated		 surplus for the ear to net cash inflow from operatin
activities
2023 2022
6000s 6000s
Surplus for the
ear		 3,159 1,087
Ad ustment
for non-cash
Items
Depreciation 1,555 1,217
Investment
income
Loss/ Gain
on endowments,
donations		 and investment ro e 1,379 4,750
Increase
Decrease
in stocks		 371 32
Decrease/
Increase
in trade and		 other receivables (1,021
Increase/
Decrease
in creditors		 658 430
Increase/
Decrease
in
rovisions
Pension costs less contributions a able 201 727
Ad ustment for investin
or financin		 activities
Investment
income		 4,300 3,511
Interest
a able		 1,110
Loss/ Profit
on the sale of non-current		 assets 2,638
Net cash inflow from o eratin activities 789 3,489
20 Cash flows from investin
activities
2023 2022
6000s EOOOs
Proceeds from sales ofnon-current fixed assets 2,721
Non-current
investment
dis osal		 17,608 10,434
Investment
income		 4,301 3,511
Endowment
funds invested		 12,546 5,670
Withdrawal
ofde osits
Pa ments made to ac uire non-current assets 8,300 12,665
Total cash flows from investin activities 1,063 1,669
21 Cash flows from financin
activities
2023 2022
6000s EOOOs
Interest
aid		 1,110
New secured loans
Total cash flows from financin activities 1,110

TCA
otes		 THARINE'5
COLL
totheAccounts		 EGE, CAM BRI DGE FOR TH E YEAR ENDED 30jUNE 2023

22
d
lld		 t d ill ll dhoti
l
td dt
At 30th Cash At 30th
June 2022 Flows June 2023
6000s 6000s 8000s
Cash and cash e uivalents 1,156 837 319
Borrowin s:
Amounts fallin
due		 after more than one ear
Unsecured loans 31,000 31,000
Net total 29,844 837 30,681
23 Financial
Instruments
2023 2022
8000s EOOOs
Financial assets
Financial assets at fair value throu h Statement ofCom rehensiveincome
Listed e ui
investments
Other Investments
- includin		 multi-asset orffolios 110,833 108,922
Financial assets that are e uit instruments measured atcost less im airment
Other e ui
investments		 29 27
Financial assets that are debt instruments measured at amortised cost
Cash and cash e uivalents 11,580 15,628
Other equi
investments
Loan notes
Other debtors 764 708
Financial liabilities
Financial liabilities at fair value lhrou h Statement of Com rehensive income
Forward forei n cunenc contracts
Financial liabilities measured at amortised cost
Bank overdraft
Loans 31,000 31,000
Service concessions
Finance leases
Trade creditors 261 173
Other creditors 857 809

24 Ca ital commitments commitments
2023 2022
6000s EOOOs
Ca
ital		 commitments at 30June 2023are as follows:
Authorised
and contracted:
Buildin works 11,060
Collective investment with Cambrid e Universi tt other Cambrid e Calle es 80 84
Collective investment schemes throu h investment mana ers 217 247
1,408 11,391
Authorised
but not		 etcontracted for 1,398
Commitments
under		 finance leases entered into but not yet provided for in the
financial statements
25 Lease obli ations
2023 2022
5000s KOOOs
At 30June 2023 the Cofie e had commitments under non-cancefiable o eratin leases as follows:
Land and buildin s:
Ex irin within one ear 28 95
Ex irin between
two and five		 ears 16 34
Ex irin in overfive ears 12 12
56 141
Other
Ex irin within one ear 18 27
Ex irin between
two and five		 ears 16 34
Ex irin in overfive ears
34 61

Male Female
Active Members —Option 1Benefits 64 64
Deferred Members —Option 1Benefits 63 62

2023 2022
EOOOs EOOOs
Current service cost 80 141
Administrative expenses 19 19
Interest on net defined benefit (asset)/liability 77 77
(Gain)/loss
on		 plan changes
Total charge 175 237
2023 2022
EOOOs EOOOs
Present value of plan liabilities at beginning of period 11,028 14,930
Current service cost 80 141
Employee contributions 30 27
Benefits paid (226) (370)
Interest on plan liabilities 417 267
Actuarial
losses/(gains)		 (1,998) (3,967)
(Gain)/loss
on plan changes
Curtailment
(gain)/loss
Present value ofScheme liabilities at end of period 9,330 11,028
2023 2022
EOOOs EOOOs
Market value of plan assets at beginning ofperiod 9,027 10,673
Contributions paid by the College 241 234
Employee contributions 30 27
Benefits paid (226) (370)
Administrative expenses paid (27) (25)
Interest on plan assets 340 190
Return on assets, less interest included in Income and Expenditure (1,531) (1,702)
Market value ofScheme assets at end of period 7,854 9,027
Actual return on plan assets (1,191) (1,512)

2023 2022
Equities 49'Yo 52Yo
Bonds &Cash 38'Yo 34Yo
Properties 13Yo 14'Yo
Total 100Yo 100Yo
2023 2022
EOOOs EOOOs
Return on assets, less interest
included		 in Income &Expenditure (1,531) (1702)
Expected less actual plan expenses (6)
Experience gains and losses arising on plan liabilities (270) (398)
Changes
in assumptions
underlying		 the present value of plan liabilities 2,268 4,365
Remeasurement ofnet defined
benefit		 liability recognised in OCI 460 2,259
2023 2022
EOOOs EOOOs
Net defined benefit asset/(liability) at beginning ofyear (2,001) (4,258)
Recognised in Income and Expenditure (175) (237)
Contributions paid by the College 241 234
Remeasurement ofnet defined benefit liability recognised in OCI 460 2,259
Surplus/(deficit) in plan at the end ofthe year (1,476) (2,001)

%ofpensionable stipends 1January 2018to 1January 2021to
31December 2020 31December 2022
Deficit repair contributions 11.9% 7.1%
2022 2021
E000s
Balance sheet liability at 1January
Deficit contribution
paid		 (2)
Interest cost (recognised in SOCIE)
Remaining
change to the		 balance sheet liability'
(recognised
in the SOCIE)
Balance sheet liability at 31December
December December December
2022 2021 2020
Discount rate
Price inflation		 n/a
n/a		 0.0'Yo pa
n/a		 0.29o pa
3.1'pa
Increase to total pensionable payroll n/a -1.5'Yo pa 1.6'Yo pa

Subsidiary
undertakings		 Subsidiary
undertakings		 Country ofregistration
incorporation		 or Shares held
Class 0/
St Catharine's College Development I td UK Ordinary 100
St Catharine's College Events Ltd UK Ordinary 100
Principal activity activity Capital and
reserves		 Result for
the year
2023 2023
EOOOs EOOOs
St Catharine's College Development Ltd Development contractor
St Catharine's College Events Ltd Functions
contractor		 and events, and