2021-06-30-accounts - The College Or Hall Of Valence Mary Commonly Pembroke College In The University Of Cambridge

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

Contents				Page
Contact Information
Trustees ofthe charity
Operating and Flnanclal	Review			3-10
Corporate Governance	and	Public	Benefit	11-13
Responslbllltles ofthe Governing			Body	14
Auditors' Report				15-17
Statement ofAccounting	Polldes			18-24
Statement of Comprehensive		Income and Expenditure
Statement of Change In	Reserves
Balance Sheet				27
Cash Row Statement
Notes to the Accounts				29-41

mbroke College is funded ome are as follows:	from a series of	sources. Including	endowment gifts,	the princip
			2020-21	2019-20
Donations (including legacies but exduding		capital gifts)	14/	10%
Income from investment	drawdown		29%	21%
International Programmes	and functions/events		0%	29%
Student fees			28'/o	I 9'/o
Student rooms			17%	11%
Other (induding catering,	properties)		12%	I(P/o
Total			100%	100%

							or
								Ol
		3B				CO		N
						rN											CV		CC
		II			-=	IO									Ol
															CO
															Ol
						N		N
						P	N								O Ol	N
						OI
																r
		s.m								I	coN			IO IO		r N	IO	g
		0			CO lO				CC Cll						Ol
															N
			O	O	@OO	ol'	Ol	IO N or		CO OC N		Q	CO
	I					CO I				PRRN N O CO							lrle N
	LU	g	-NNONOA'							0	CO	P
	c
	Cl
	cr
	E0
	QC
	gRc			8
g 2 =oN e I o I ~~ E CI C EO O. V) I 0lQ		I	g e D Ej)					0 8				h sh				0	0		80	00 O ID0

				Note
Cash flows from operating	activities			21	(2,625)	(2,780)
Cash flows from investing	activities					(703)
Cash flows from financing	activities				(601)	(624)
(Decrease) In cash and cash equlvahmts			In the year		3,02	4,107
Cash and cash equivalents	at beginning	of	the year		(1,925)	2,182
Cash and cash equivalents	at end of	the	year	24	4,952	1,925)

								2018	2017
								2000	2000
Total value 1stJulY
Acqufseorw purchased		whh spedfic donalkms				275			13
Acq lsltlons purchased with College furrde Total cost of~purchased Value ot acquiseons by donalion Totsd~ pltalhed ln year					13 13 80	275	70		20
Total value 30th June					574
Balance al I July
AddNons								12,063	7,543
Dfsposah								(8,676)	(11,987)
Transfer from fixed	assets							758
Gain								12N71	405
(Dacream)drvxeass		h cash	hekl by lrtvasllrwnt	lmulagefs				(5,093)	4,076
Less:change kt amounl owed lo Pembroke House								(31)	(5)
Balance at 30June
Generst iweslmenls								97,165	87,996
Private placement	invessnenls							13,653	11,530
								2,550	2,510
								9,501	9,485
								19,075	17,555
Equass Other~								31,126 62,793 10,403	50,763 7,503
Cash N hand and at investment managem								5558	11,051
Loans to Felows								791
Less: amount owed		to Pembroke House						(253)	(223)
10.Block
Kitchen								21	21
Cotter wine								693	691
Bar								2	3
Poners' Lodge								4	4
									719

.Pension provisions
					CCFPS	USS	2021
					BNO	BNN	BNO
(Deflch) In schemes	In beginning		ofthe year		(4,180)	(1,191)	(5,371)	(6,333)
Movement in year:
Recognised in income		and expenditure			(282)		(136)	779
Contributions paid by		the College			273		273	223
Actuarial (loss)/profit	recognised		in the Statement	of	901		901	(40)
Comprehensive Income and Expenditure (Deficit) In schemes at end ofthe year					~388 note 20b	~1, note 20a	~4338	~5371
.Endowment funds
					Restrkted	Unrestricted	2021
					Permanent	Permanent	BNO
					BNO	BNO	BNO
Balance at beginning		ofyear:
Capital						39,627	79,333	80,445
					39,706	39,627	79,333
New donations and endowments						51	397	117
Increase in market value of investments					4,075	3,775	7,850	(1,229)
Balance at end ofyear (page 26)					44 127	4$,453	8768D	7$,83$
Representing:
Fellowship Funds					12,336		12,336	11,229
Scholarship Funds					6,509		6,509	5,886
Prize Funds					1,011		1,011	914
Bursary/Hardship Funds					5,223	1,298	6,52'I	5,782
Travel Grant Funds					1,740		1,740	1,571
Graduate Funds					8,655		8,655	7,639
Other Funds					8,653		8,653	7,856
General endowments						42,155	42,155	38,456
Total					44 127	48463	87333	73331
Analysis by asset:
Property					12,394	12,205	24,599	23,555
Investments					29,361	28,912	58,273	46,970
Cash					2,372	2,336	4,708	8,808
					44,127	484$$

Balance al beghmlng olyear: Cap lal ~ed Income	Balance al beghmlng olyear: Cap lal ~ed Income	Balance al beghmlng olyear: Cap lal ~ed Income						2,813	5,243 658		5,501
Transfers bstwtxm funds Increase N market vahe	In year ofi~					20	467	2813	5901	~29181	~29051 (274) (85)
Captal grants Donabons~return Iransterred Other~Income						13,124 138		143 1,651 124		13,124 1,871 297	2,421 756 1,881
EXpandtu f8							(75)	(1,751)		(2,493)	(2,398)
Csplsl gAIAIB tflgssd						(2,172) ~lt 015		167	776	(2,172) ~II 958	(2,529) 130
						~N		2Jttm	~8877	~41139	~29lilt
									6,055	6,055	5,243
						31,482		2,980	622	35,084	23,938
naprssengng: Fegowshlp Funds~Funds								644 684		970	2,592
Prize Funds								88
Bursary/Hardship Funds								594	791	1,385	't,305
Travel Grant Funda								186	12	198	157
Graduate Funds								385	841	1226	1,169
Other Funds						31.462		399	2,3e9
						31	482	~th)0	~677	~at 139	~29181
I& efholpldlsll Of tmapptlad		tmat felllm
Induded vnthin reserves ihe		fohwing	amounts	represent	Ihe INBFFIN intel return	ofthe College:
Unappaed lchU return at the		beglnnhg	of the year								41.397
Unappaed tfaal return for	the	year (see note 3a)								8,353	(1,361)
19.Csphal~
										20N	2020
CsPisl cofrNlhfIIBAIB coAlfBclsd fof el 3(hh JUI18 ~										9000 15$3	2000 191

						fiml 2020	fiml 2020
						2000 2000
Market value of phn assets at beglndng ot period pakl by the Cofiege Employm~						9,721 274 8	9,036 273 9
Sensfils pekl						(298)	(313)
Adnfidskalion expenses Ifdonwt CA ptefl sssaui Return on assets, kws interest induded h~e Income and			penditure			(28) 140 629	(25) 202 539
MMIIBI sable of plmr assam sl sfld ofpeflod
Actual return on glen assets The ma)or categorim of phn assets as a percentage		of total plan assets for the year ending 30Jww			789 2021 (wfih~efigures for ths year		741
ended 30tune 2020) are as folhws:
						4IFA	49%
						423S	41st
						10%	Ifisc
Todd						IOIFA	100%
The plan has no investments in properly occupkd by, assets used by or fhenchl instruments issued Analysis ofthe~t ofthe net delhed benefit Ihciayr~ In Other Comprehensive					by Ihs Cofiege. Income (OC0 for Ihe	year erxfing 30tune	2021 (with
figures tor Ihe year endhg 30Jfxw	2020) are as fofiows:
						2021 2020
						2000 2000
Return on assets, less hterest hduded in ofntxehmstve Incorre and~rs Especial less actual plan sxpenwm ~gains and losses arising on phn fiablates C08ngss IA~~thB present vakxr of pkm Itstfiahs						629 (11) 135 148	539 (10) 496 (1,065)
Actuarial gain/(hss) recognised In OCI (page	26)
Movement in (deficfi) durhg Ihe 12months erxfing 30tune 2021 (wfih comparative				figures for the year ended 30June 2020) are as tolkwnc
(Deficlt) In plan at begh dog ct year ~tn Statement cfComprehenstve pakl by Ihe Cofiege	tncome and Expenrfiturs					(4,181) (282) 274	(4,118) (298) 273
Actuarkfi gainf(kes) foroer ised In OCI						901	(40)
(Dsgcll) hl PlsA st dul end oftho Fwlr							4181

(c) NOW;Pensions schema The Degage operates a dekned conlrbugon scheme In respect ofcemdn penskm charge epesenls contrkmSons due from the Colege amcrmdng II shoukl be noted that most ofthe oulslwssng~have been	(c) NOW;Pensions schema The Degage operates a dekned conlrbugon scheme In respect ofcemdn penskm charge epesenls contrkmSons due from the Colege amcrmdng II shoukl be noted that most ofthe oulslwssng~have been	(c) NOW;Pensions schema The Degage operates a dekned conlrbugon scheme In respect ofcemdn penskm charge epesenls contrkmSons due from the Colege amcrmdng II shoukl be noted that most ofthe oulslwssng~have been	nkyoyees The scheme and its assets are hekl by~t managrm. to &179k(2020 E165k)ot whkh I22k (2020223k) was~at the collected by NOW stree the 30th tune 2021.	nkyoyees The scheme and its assets are hekl by~t managrm. to &179k(2020 E165k)ot whkh I22k (2020223k) was~at the collected by NOW stree the 30th tune 2021.	The year encl
(d) Surrurmry ot peflslorl coma
Universses Superannualkm Scheme Univsrskkm ~dcn Scheme - pension povlslon ~Coleges Federated Pension Scheme				624 u63) 212	(1,074)
NOW:Pension Scheme				179	165
Death kt service				8	5
Total pension casts (note 6)				858	13
21.RscorlclgsNorl of surplus fofthe yem Io	cash	flows frorrt opemlrlg	ecNvglss
Surplus for ltre year				19,762	1,128
Ad)usbnenl for norvcash items:
(note 8) (Gain) on~ts, donadom and kwesbnem (Increase) W stocks (increase) rn Ifade and ogler nmetvstlles (Increase)/decreem in short-termi~		properly		2315 (12,717) (1) (5@31) (6,004)	2,157 (928) (3) (816) 1,311
Increasfy(decrease) Inoedkors				420	(3,271)
pension costs less contrgruNorw payabkt ~for Imraetlng or financing actlvlges				(137)	(1,002)
Investment Income Investment costs Interest paysue~funds invested				(1,691) 754 (397)	(2302) 512 (117)
Gki of heritage asset				(80)
Total cssh flows fforll opmsdng &cgvnss
Non-cunent kwestment dispmua Investment krcome~funds Invested				3,425 156	3,445 117
Payments made to acquke non-current assets				(3,779)	(4,648)
Total csslt flows fnmt Irtvsstlng scdvidss
kaerest paid~of amounts borrowfd				(482) (119)	(512) (112)
Total sash flows from financing ctivldss

Sorrowlngs:
Amounts laWny due within one yean
Sank overdraft
Unsecured loans
Total net debt
27.Flnwlchd~

(14,334) 14,334 Total net debt 16375 lchd~	131 131 2907	( t4,203) 14,203 19
Rlwrlohl assets Fhsncw assets ar fair vahs lnroupn 3lsfsmsm of~e income Uusd equny~(note 9) CNwr~(note 9) Fhsnctrr exsect mra srs rsrw~ rssrrred et~cost Other~(nots 9) Cash and cash~(wxs 9, 12,13)	62,5N 10,403	31,476
Caber deburs (nss 11)		327
Roanoke nabawm Fherlder axbehs msssurrm st~cost
Bank ovsrdrsn (note 14s)	7,889	3,282
Lowe (narc 14e, 14b)	14,330	14,450
Trade crsdsors (nels 14e)		518
cater crsdkors (nohs 14a, 14b)	1,368	1,411

summarlsed	table bdaw:
Fram	To		2021 Number	2020 Number'
EO	f10,000		44	49
E10,001			12	10
E20,001	E30,000		6	10
E30,001			0	I
E40,001			0	0
E'50,001	E60,000		5	5
F60,001	E70,000		2	2
270,001			1	0
E80,001	Eao,ooa		2	2
Eao,oat	f100,000		2	2
f100,001	E.110,000		0	0
2110,001			1	I
		Total	75