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|Congestls|||Page|
|---|---|---|---|
|Reference and Administrative<br>Details|||3-6|
|Structure, Governance<br>and Management|||7-10|
|Aims and Objectives ofthe Cogege||||
|Public Benefit|||Il - 12|
|Review ofOperations|||I3 - ]8|
|Financial Review|||]9-27|
|Rcspoosibilities ofthe Governing|Body||28|
|independent<br>Auditors Report|||29- 32|
|Sttnement ofPrincipal Accounting|Policies||33-39|
|Consolidated<br>Statement ofComprehensive||Income Jt|40|
|Expenditure||||
|Statement ofChanges<br>in Reserves|||41|
|Consolidated<br>Ba]ance Sheet|||42|
|Consolidated<br>Cash Flow Statement|||43|
|Notes to tbe Financial<br>Statements|||44- 59|





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|<br><br>Fellows'<br>attendance<br>was reco|rded as fogow|s:||
|---|---|---|---|
|The Rt Hon. Prof. Lord||Prof. RNick)|8/11|
|(10/7/2()20)||DrTS But)in|8/11|
|Dr M A El-Erisn|10/)0|Mrg J Price|]0/11|
|Prof. RRWeber|11/I I|Prof. A C Rice|11/II|
|Prof. JA Jackson|7/8|Dr EMoyroud|ti/I I|
|Prof. RG Fentiman|9/) )|Dr DJBunerfteld|8/8|
|Prof. P H Haynes|11/I I|Dr A Paterson|9/I I|
|Prof. D Cebon|II/11|Dr ME BTait|II/I I|
|Prof, EAHHall|11/) I|DrEGa)io|5/I I|
|Prof. RW Prager|)0/I I|Dr F I Paddeu|10/11|
|Prof. AN Laaenby|10/I I|Mr RMC Kitt|11/I I|
|/1)Dr A H Gee|10/I I|Revd TCHarhng|11/I I|
|Dr JW FAllison|10/11|Dr S Heggerty|9/11|
|ProfRA W Rcx|11/11|Or CJBickerton|7/I I|
|ProfCEBryant|I I/11|fh CBrendon|8/11|
|Dr M PV Crowley|8/I I|Or DJParker|10/I )|
|Dr JW PCampbe))|11/11|Dr G Denyer Willis|10/I I|
|Dr H R14Jones|8/1)|Dr EMcPherson|10/I I|
|Prof. MJDixon|10/I I|Dr G Atkins|11/11|
|Prof. DKMeson|10/I I|DrC Warnick|11/11|
|Dr A CThompson|10/I )|Pmf. A Beresford|11/I I|
|Prof. A A Seshia|9/11|DrA Mars)sun|10/)i|
|Prof. EM Terent)ev|9/I I|Dr J Blande)I|7/8|
|Dr I Sitsridou|I I/I )|Dr TDenmead|10/) I|
|Dr A harsher|11/))|Dr P McMurray|11/11|
|Dr A MRossi|8/I )|hir A D Bainbridge|)I/11|
|MrISpence|))/I )|Dr JGarrison|11/11|
|Dr GI M~Shane|11/11|Revd M Bay)isa|10/I I|
|Dr H J Stone|8/I I|Prof N D Lawrence|10/I I|
|Prof, M Edmonds|))/) I|||
|Dr JJMaguire|11/I I|||





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|~<br>The COllege'S|sCccmmadatinn,<br>COnferenCe|sCccmmadatinn,<br>COnferenCe|sCccmmadatinn,<br>COnferenCe|sCccmmadatinn,<br>COnferenCe|sCccmmadatinn,<br>COnferenCe|Snd Catering|aCfivities<br>Showed a|aCfivities<br>Showed a|deficit of64,054,000|deficit of64,054,000|deficit of64,054,000|
|---|---|---|---|---|---|---|---|---|---|---|---|
|(2019/2020: K2,498,000|||deficit).|This|area was the most affected by the pandemic|||||as discussed||
|below;||||||||||||
|~<br>The tack of external<br>revenue<br>from conference<br>and catering<br>and significantly<br>from~ not being<br>in residence<br>for long periods<br>during<br>the year has|||||||||diminished<br> affected the||income<br> College|
|advemely.||||||||||||
|Fundmg ofthe Col)ege||||||||||||
|Queens' College is ftmded||from several||sources ss follows:||||||||
|Year ended 30"June|||2021|||2020||2039|2018||2017|
|Academic Fees|||31.4%|||29.4%||25.0%|26.4%||26.5%|
|College|||17,4%|||18.6%%uo||23,9%o|23.7%o||23.8%o|
|Accommodation||||||||||||
|College Catering|||1,3'%%d|||5.3%||6,6%|6.8%||7.2%o|
|Conference Activities||||||9.8%||10.8%|11.0%||9.9%|
|(Including Cateringj||||||||||||
|lnvesunent<br>Income|||21,8%|||26.3%o||13.6%|16.5%||18.0%|
|Donations|||25.3%%uo|||7.0%||18.5%|14.4%%uo||13.0%|
||||2,8'%%uo|||3.6%||I.6%|1.2'Yo|||





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|Contingency||SL99million|Contingency<br>to<br>cover|Contingency<br>to<br>cover|extreme/unexpected|shortfall|in|
|---|---|---|---|---|---|---|---|
|income th Expenditure|||income|or additional|extreme/unexpected|expenditure—||
||||equivalent<br>ta 18 months<br>accornmodatica|||conferena:|and|
||||catering|income<br>being|the average of the|last three|non-|
||||pandemic|years||||
|Emeqrency|Building|XI.75million|To fund|unexpected<br>urgent repairs ta buildings<br>in the estate||||
|Repair Contingency|||eg roof failures, etc. equivalent<br>ta 58ti ofbuildings<br>as fixed|||||
||||assets|||||
|Total||f.l0.74 miHion||||||



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||||||4272|4 I II|||4 I I 'I|
|---|---|---|---|---|---|---|---|---|---|
|||||||MI3|||4,7I3|
||||IIsa||2821|28N|I 107|030||
|||||||561|||N4|
||||26N|0N|caaa|106N|%107|330||
|lsaaal Caaa~~|||||11225<br>0||||3,782<br>a|
|Ccsacs~68 ccaaa Na|||||4cles<br>6|||24S7|24SS<br>6|
|aacccalaaaaacarmesa|||||6||||a|
|||11860|667~|slN7|3280N|77csN|0860|||
||||467|als|3332|6JI3|463|030|22I1|
||||||4607|IDt I|||2317|
||||||504|SEI|||036|
|Ceaaaca~Saaa G.E||||||||||
||6|Ilcsl~|407|~44|00200|126tl|400|~36|308N|
|||SIEIIS|8812|4803|I'I.ass|1183a|El82|||
|||Sssl 0|||7261)||||6|
|||6362|004|7862|N820|00INS|SI200|SIJINJ|c86NJ|
|||8|||0|0|||6|
|||KcN|||acal|82006|||caasel|





|CSEENS' CCKLEQE, CAW%KNSE<br>~ofCbanhas ih Raaerees|CSEENS' CCKLEQE, CAW%KNSE<br>~ofCbanhas ih Raaerees|||||
|---|---|---|---|---|---|
|Year Ended 20$rtuse 292I||has»ra and aapcrngfrne<br>Unrearrhhd ~||rasarre<br>Endarrr seri||
|Bahnce|sr1tuft 2929|||||
|Oyencrg|bohr'||12,aca|57~||
|Change|ofFmd~ion|||||
||||9,396|||
|||2llOS||||
|||~roarr» and eapesdihre<br>Unreal rhhd ~||reserm<br>Er~a||
|Balrnc»|al1July 2919|Efafg|92ND|9909||
||bahnoe|||||
|Change|ofFmd Chrcilkation|0|9|0||
|||Q,0721|2rr29|||
|||f2,05cj||||
||||||11I~5%|





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## 

||||2021|2020|
|---|---|---|---|---|
||||Grwp|Creep|
|p)ON C(IRIISSTASSSTS|||||
|Freed erects|||39,4an|3$.o27|
|iccrnsge Asscle<br>In~|||103<br>135,271|103<br>110267|
|Tract aoneerreat<br>erects|||170863|148,397|
|Cl)SBE7ITASSETS|||||
|Stacks||10|436|449|
|Trade sad cchar rcacivabler||Il|2.161|3,299|
|Cssb and cash catavdcrw||12|207|267|
|Tacal cerreat assets|||2,$03|4,015|
|Crcdlccre. arsenate fclgsg dac vrlnrln|one year|13|1,747|2,242|
|Toast Access less carrcat Ssbgltbe|||175.9't9|150,170|
|Credlterra accoun ynigsg dec atter|scare||||
|I ha ~ace year|||123.000)|(23.000)|
|Provdshrw|||||
|Ptscias pres(Sisal||15|(93)69)|(11335)|
|Odxr previsiaas|||0|0|
|Tang sel ssscn|||143050|l(5<br>36|
|||17|69.373|57.34$|
|||le|71,841|12,445|
|I)aravtreeted<br>Reserves<br>(scone and~reserve.~|||51,835||
||||143050|1153)36|





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|Net cash iudow from operating<br>activities|Net cash iudow from operating<br>activities|Net cash iudow from operating<br>activities|19|)3.045|10,120|
|---|---|---|---|---|---|
|Cash f)ows hum mvesdng|nctivhies||26|112,358)|(9.538)|
|Cash Sows &utt fmaaoiag|activities||27~747||624|
|)nereatet)2)ecresse)<br>in Cath|equiValenta|in thC yCar||(60)|f43)|
|Cesb and cash equivalents|si beginning|oftha year||267|310|
|Cash and oath oquivalems|at ead oftbe|year|42|267|267|





## 

|EA|R EtuoEll 30410qK2021|R EtuoEll 30410qK2021|R EtuoEll 30410qK2021|R EtuoEll 30410qK2021|R EtuoEll 30410qK2021|R EtuoEll 30410qK2021|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|I|Academic<br>fees aad ehargcs||||||||||||2021|||l020|
||||||||||||||0000|||SND|
||Fee income received|||m ke Regulated|||||||unde~|rate|2.529|||2.475|
||Fee inonme received|||al Ihe uarcgulctcd|||||||undergrsdume|mrc||||120|
||Fee income mceived|||ct Ihe Graduate||||||mte|||1,227|||1350|
||Other Inotnrm||||||||||||168|||157|
||||||||||||||4.212|||4.111|
|2|Income 5)ant aecommodatioe.<br>ealeriag aad ttmfereaeta<br>Accommodation:<br>Cogcgc mcrrkets||||||||||||2,344|||2~|
|||||||Coclerenmc|||||and banquets||22|||494|
||Cateriug;|||||Coaage|||meukets||||177|||746|
|||||||Coot'ere|||ness||and bcnquen||0|||873|
||Total|||||||||||||||.7l3|
|3|Eadanmcat<br>cad||Iavmtmcat||||Income|||||||2D2I||2020|
|3o|Analysis|||||||||||||BND||5ND|
||Income fmm;||||||||||||||||
||gaud snd buildings||||||||||||||480|S28|
||Qnotml securities|||||||||||||2,143||2,833|
||Fixed ialercm sos|mit||its|||||||||||16|16|
||Ineomc gom shoroterm||||invesonents||||||||||3|S6|
||Other interesr receivable||||||||||||||272|251|
||Tc4d|||||||||||||2921||3683|
|3h|IavcsImcat menageracat|||||caste||||||||2021||2020|
|||||||||||||||6000||5000|
||Land and bulk)huts||||||||||||||(78)|11.7|
||Quoted Securities-||equidea||||||||||||(88)|62|
||Fisod iulermt securhim||||||||||||||0|0|
||Otlult<br>utv<br>Ilnmus||||||||||||||0|0|
||Cash||||||||||||||0|0|
||Tmst|||||||||||||165)||190|
|4|Educmtou<br>espeaditntu|||||||||||||2021||2020|
|||||||||||||||8000|||
||Teaching|||||||||||||3.200||3,103|
||Tumrial|||||||||||||1.662||I.792|
||Admissions|||||||||||||351||503|
||Research|||||||||||||||305|
||Scholarships<br>and|awanh||||||||||||797||701|
||Other cduemionat||Stettuies|||||||||||719||727|
||Ttnal|||||||||||||7032||7311|
|8|Aeeommodatioa,|oemrIog||||aad||coaiercaccs cspcaditurc||||||2021||2020|
||~ucnr|||||||||||College memhms||4,920||8000<br>4.362|
||Camrtug|||||||||||Conrcrecuuc and banquets<br>College menkers<br>Conreran acs md~||45<br>1,623<br>0||806<br>1,014<br>1,028|
||Total|||||||||||||6.597||7.211|





## 

|geol costa|Other|Bcpmla|dan|Total|
|---|---|---|---|---|
|(sots 71|opera<br>gag||||
||expenses||||
|6050|6000|5400|||
|3.929|2254||649|7,032|
|3,532|1.433|12132||6.597|
|345|274||0|422|
|7.505|3.960|2|452|14355|



|gtaS coals|Other|ttsprcctacien|Total||
|---|---|---|---|---|
|(aotc 71|opero clog||||
||ex pe nero||||
||5090||||
|3,704|2.695|512|7.211||
|3316|2.139|1.556|7,211||
|396|492|0||ggll|
|7616|||15|310|



|'||||||
|---|---|---|---|---|---|
|Auditsre|reteaeerngen||2021|||
||||5000|||
|Odor opersdsg nnxxntu||indudc||||
|Aude fees <br>Other foes|payablc 10gn <br> payable tothe|Cnlbgab existed andante<br> Collegab extenud~||33<br>0|32<br>0|





## 





## 

|TES TOFINANCIAL STATKM<br>AR ENDED 30JUNE 2022<br> fcacd osscta|IPITS||||||
|---|---|---|---|---|---|---|
||||||2021||
||Laud ssd<br>bui)dinge|Alocul ia<br>ceaslraebss|Rtu)pmcar|)Icelege<br>Asses|Tom(|Tolnl|
|Custer valaugM<br>Al~ef year|5000<br>54,453|$000<br>&18|0)00<br>2,537|4000<br>105|59.611|57.767|
|Addrricus at etm|6.272|5|107|0|6A64|2.12$|
|Rcveualioa ofes¹l|0|0|0|0|0|0|
|TIIMsfef|0|0|0|0|0|0|
|Bispesals<br>A(ml ofyear|55)<br>60.167|2.523<br>0|475<br>2249|0<br>103|3,556)<br>285<br>62.51059.6(1||
|Bcprcc louse<br>At ueglna alpefyem|20.232||)249|0|21,4$1|19,398|
|Charge fer dw yew|2,0)0||4a3|0|2,482|2,368|
|Elimiaa¹d ee Dr)pored|(560)||(475)|0|(1,035)|(285)|
|Wrincn back M rcvskaatM|0||0|0|0|0|
|atcadofyear|2L690|0|)237|0|22,927|21¹81|
|Hk( BOOK VALVE|||||||
|Arced ofyear|3L477|0|IAl) l|l03|39,591|30,130|
|At bcg(rmktg ofyear|34321|2.518|1208|103|3$130|30,370|





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## 

|Amocna for lhe cuneul|and|prevmus|years was m fogews.||||||
|---|---|---|---|---|---|---|---|---|
|Acquisiuem~with||spectfn|||||2019<br>6800|1017<br>0800|
|Aeqeishwm<br>plaehcscd|with|cogcgc|linda||||||
|Total costofecquisitwns|purchased|||0||0|$$||
|Vake ofccqamliens<br>by|donagm|||0||0|0||
|Toml mqrdnuOm<br>Capibd'ned|||||||||
|Irked asset 1avaaacaa|||||||||
||||||2021||2020||
||||||Terai||rout||
||||||(0$0||$000||
|0abmuc m bcguming ofJnw|||||110267||IfiL688||
|Add'aient|||||88306||28.114||
|Tomfawl fiem Feted assca||||||0|0||
|iyispecsk|||||773120||17.061||
|Lese impairment<br>cn unqemod||serwnua||||0|0||
|Crauqkss)|||||14,42$||Ie,yI41||
|lnc/ccscedecrcam&<br>m cerh balenees|||held m||||||
|fued manapsa|||||||||
|Bdance etcnd ofyear|||||i31|71|110 67||
|~wd<br>hF.|||||||||
||||||24,076||23367||
|Oaoted mcrneia —ma ines|||||se,|e93|40.47$||
|Pixod hmcmt<br>orucnice<br>Ogler<br>l vestmmm<br>Cash m hand Bal~mal egerc|||||6ll<br>19.107<br>31804||I9.719<br>tg&$2<br>12421||
|Toud|||||131271||110267||



## 



## 


## 



## 

|lg|Pmmioa<br>pnwisl<br>see||2821||2020|
|---|---|---|---|---|---|
||CCFFO|||||
||Baleamnr bcglaaiagofycnr||I0,777||8328|
||Movcmcn! n! )'err'|||||
||L)urete euvire Cntn iInlud! ag|bye etttusem|1.514||1,332|
||Cenuibulions||(881)||5938)|
||Other fiawee oret|||0|0|
||Actucncl losutfgcis) rcwgeiscd|in Steummt of||||
||Cemerchcnsive<br>laconn ud Eepcaditure||i2|IDS)|2,054|
||||9|01|Ip 777|
||S)83|||||
||Release at bcglaalng sfyear|||558|876|
||&nrem service casts inclttstns <br>C~|life cmurence|2S4<br>(282)||IIO)<br>I262)|
||Other fi!mace ccut|||8|14|
||Odmm<br>W Cud Ofreer||||558|



## 

|hentucung<br>sen icos at the Co<br>Eadowmcat<br>fanch|lle|ge|||||||
|---|---|---|---|---|---|---|---|---|
|Rmlnmed<br>nct assets rehung|to|eudowmcun|me as fogowe||||||
||||Salrktcd|l)nrcsirintd|||||
||||petmoomt|permsaeat||1021||102D|
||||cadmvmeale|~ndowmertm||Teml||'Toml|
||||DDM||0080|0400||8000|
|Esleacc m Iwgia slag ofyear|||||||||
|Capimi|||309156'78 24|24A)2208.95||57347,887.is|59|76479431|
||||4,4IR77S,O I||26,443,22|4,443;22L23|2,456,863.04||
|lactcmuf dcctemc) ia market||valw of|||||||
|mvesencnn|||1,939,053.41||3.642,992.55|7,581,045.96|(4.893.770161||
|Balance at ead efyear|||39 71<br>66|3|101 64472|603731|7|9|
|Aasbtch by type ofperpeee|||||||||
|Mlow ehB funds<br>S~ty fumh|||27,592<br>4,643||0<br>0|27392<br>4.643||21.912<br>2.995|
|Prier Funds|||0||0|0||0|
|Hcuhbip Suds|||131||0|131||112|
|B mern)<br>fends|||4.765||0|4.765||43)59|
|Trcvd eruct fua*|||305||0|305||262|
|t)Oer funds|||146||0|146||115|
|Crcucrd|||I 684||30 102|31 ')85||27<br>70|
||||39 65||0 102|||57344|
|A an lysis<br>by meet<br>l~|||6J59<br>30.770||4,798<br>23J89|IL056<br>54,360||9.14D<br>44,938|
|Cmh|||2,234||1,714|3,950||3,266|





## 

## 

|trum with recut t|niou|nc mkguam||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||pc em a ace'i||||||
|||||uaspeat|aad|Restricted||||
||||Capital grants|other rcslrictng||e spends bit|2021||2820|
||||uaspear|I acorns||endawmcat|Total||Tel~I|
||||0800|BIM||SNNI|RNNI||$000|
|Balance ccbeginning of&car|||0||1.620|ID,$25|12,445||9.509|
|||Cassia(|0||0|I(L44$|I(L44$||8595|
||Accumulated<br>mmme||0||1.620|377|1,997||913|
|Change of||Fmd Clcmit Ktcjoa|0|||||||
|||New greats||||0||0|0|
|||Itcw docaiiocs||||7.825|7.825||4925|
|Bodovmum||cctorll Irnlsfcrccd|||6$8|154||$42|I uv6|
||Other|imcuman<br>income|||252|0||252|172|
|tarrmcd(dccmaic)|io mcrkCC<br>value af|||||||||
|||Iovmuotvm||||||8$4|(426)|
|||I.'xpmdhum|||(325)|($1)||(407)|(661)|
||Capital Dream uulucd||0|||||||
||Balance m cnd of&cur|||2334||19607|2'I|$41|12445|
|||capeat||||19.157|19.157||10,448|
||AccccllcIaicd Inomic|||v v34||450|4664||1.997|
|Anahsh <br>fua~ ms||ofother rtou(tnd<br> by 1&peofpurpose<br>Fellowship<br>funds|||!.719|1,046|2.765||2, 143|
|||Sthohm(up<br>fucch|||126|589||714|619|
|||Pnac Fuels.|||0|0||0|D|
|||teaids hi9 funda|||(7)|1,520|4513||1,294|
|||Bursary funds|||30$|626||935|713|
|||Tume IgrecC fcndv|||49|37|||70|
|||Other funds|||37|23,345|23,382||7,362|
|||Gcntnd|||0|268||26$|231|



|Reeoaeiliatlen<br>afecmeogdakd|curplm|far (3nyear|to arl caih logan fram|eperngng<br>aedvitlcs|||
|---|---|---|---|---|---|---|
||||||2Rtl|2D20|
||||||ddgD|$600|
|Sicploa(dcfcck) forthe year|||||25.166|(5.573)|
|Adjmhoccx tcr acrscmh items|||||||
|Oqucoiation||||6|2.4$2|2.36$|
|Lone(gem) on cnduwmcau.<br>dunaiiom||end kvmanem|otoscny|17|( 14rt2$)|9.5(4|
|(ymrcmef(tncrcasci<br>in stocks||||ID|13|19|
|ymcccccf/(Incrcoml<br>ia Iriak mitl Caber iccuvcblni||||II|1.139|7216|
|Incrumm(decrasm)<br>in cceddecc||||13|(495)|(440)|
|Increecu)denucm<br>ia provbiom|||||0|0|
|Pcccioa cons (ms oeoaiholiooc|pa&ohk|||15|643|76|
|(~gain) an ssk ofscopcny|||||761|0|
|Adjushncar<br>for lavesllagor|gnonekg|eetiviciec|||||
|Invcctmeai kcoom|||||(2,921)|(3,6$3C|
|I amore pe&shia|||||747|624|
|Rer cash (agon<br>(rom opcradag acdvltics|||||13.045|10.120|





## 


|BJ|Cenwdldskd<br>rccsaegladsa<br>aad suahrhsefasrdele||||||
|---|---|---|---|---|---|---|
||||||Other||
|||Ae I July|(mb||aca4asb|At 3$Junc|
|||2020|Rmrs||chaagns|2021|
|||$000|OOM||BOOB|BBIN|
||Cash aad cash cqalvaksls|267||(60)|||
||gsrluwiags;||||||
||Amaask<br>faNag<br>due afkr Isola thea aue||||||
||)'car||||||
||I)ntecurcd hans|(D,OOO)||||(23,000)|
||Tocsl act dc'bt|733|||||
|24|pbtasckt Icmramcsk||||||
||Flrmnelel aeeek<br>Rneceon Sceak atStirvalue ihmsph~Or~can ctecnm<br>Us)%i onultu hlveakvutk<br>Other~<br>Fkenccst assets that are dear~meeswed<br>el~eeet||||56,197<br>10232|56.197<br>IIJ$2|
||Cash Ond wish oresvekflk||||12.6$$|11,6$$|
||Outm debiom||||3.1$0|3,1$0|
||Flrwneiss lb hohkn<br>Finsnout ANkm<br>mes earns el~eeet||||||
||Lukta||||13,000|2),INO|
||Tmda medium||||1.173|1,173|
||Odmr cmhtom||||512|512|





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||2023|2020|
|---|---|---|
|Males currently<br>aged 65(years)||24.4|
|Feraales currendy<br>aged 65 (years)||25.9|
|Males currently aged 45 (years)|26.6|26.3|
|Females currently<br>aged 45 (years)|27.9|27.7|



|||2021|2020|
|---|---|---|---|
|Discount mrs||1.80%|1,45%|
|Pensionable|salary growth|3.10/c|2.7%|





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## 

|||||~une|
|---|---|---|---|---|
||||~221|2020|
|Discount rate|||l.80%|1.45%|
|Increase in salaries|||3.10%|2.70%|
|RPI assumption|||3.40%|3.10%|
|CPI assumption|||2.60%|2.20%|
|Pension increased|in payment|(RPI h4ax 5%pa)|3.30%|300%|
|Pension increases|in payment|(Cpl Max 2.5%pa)|1.95%|1.80%|





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## 

## 

||Lang-term||Long-term||Long-term||
|---|---|---|---|---|---|---|
||rate af||rate of||rate of||
||retrlrn||return||return||
||extra cted at|Value at|expected a(|Valse at|extt6tcted ot|Value or|
||30/06/202 l|30/06/2023|3iiIr0672020|30/Od/2020|3IVOr92039|3IVO6/2039|
|Equities and Hedge Funds<br>Cash, Bonds4 Net Curreru||I0,606,207<br>9,280,43]||9.810,563<br>8,208,838||I0,2I1.737<br>6,109I,2(2|
|Assets|||||||
|||2209625||2002,156||I 612379|
|||22006264||20021557.||17915328|



|The fogowing|resu|hs|we|re m|easured<br>in a|ccordance|with the requirements|ofFRSI02||
|---|---|---|---|---|---|---|---|---|---|
|||||||2021||2019||
|||||||||E||
|Total market <br>9<br>t 6|value <br>IS|of <br> I|assets<br>116||22,096,264<br> 'litt<br>~3I 397694||20,021,557<br>~30798 169|17,915,328<br>~6.243.731||
|S 0 IM(d 7|it)<br>'|10|S|I|~9301430||~10776612|~8328 4tl3||
|The amounts|recognised|||in income and expenditure|||are ns follows:|||
|||||||||3(F Jaae|30 Jane|
|||||||||2021|2020|
|In staB costs:|Current||service||cost (net of|employee|umtribrnions)|1.320.995|I 107.620|
|In endowment|and|investment|||income:|||||
|interest cost<br>Expected return on||pension scheme assets||||||453,455<br>~296,257|600,966<br>~412,107|
|Net return||||||||157.198|ISS859|
|Actual renrrn|on penaion|||Scheme asaets||||1.528 371|1.439.084|





## 

## 

## 

## 

|Changes<br>in the presem v|alue||ofthe plan liab|ilitie|s|are as follo|ws:|||
|---|---|---|---|---|---|---|---|---|---|
||||||||30»June||30»June|
||||||||2021||2020|
|Present value ofplan liabilities|||at beginning|ofperiod|||30,798.169||26,243,731|
|Cunent service cost (including|||employee's|contributions)|||1,594,918||1,404,994|
|Interest on plan liabilities|||||||453.455||600,966|
|Actuarial<br>(gains) losses|||||||(897,337)||3,061,536|
|(Gain)/loss<br>on plan changes|||||||0||0|
|Cunaihncut<br>(gain)/lass<br>Benefits paid|||||||0<br>~551 511|D<br>~513058||
|Present value ofplan liabilities|||at end ofperiod||||31397694||30798 169|
|Changes<br>in the fair value|ofscheme assam are as|||||follows:|30»Jane||30»June|
||||||||2021||2020|
|Market value ofplan assets at|||beginning of|year|||20.D21.557||17.915328|
|Conuibutions<br>by dm College|||||||881,344||938,442|
|Additional<br>contributions|by members<br>(including|||||AVCs)|273,922||297374|
|Benefits (and expenses)|paid||||||(608,930)||(568,67))|
|interest on phm assets|||||||296,257||412,107|
|Return an assets, Jess interest|||included<br>in Prof.ir||tk Loss||1 232 114||1 026.977|
|hsarkct value ofplan assets at|||end afyear||||22 096214||20 021 557|
|Amounts<br>for the current|and|previous<br>four periods a)css fellows:||||||||
||||30 Jaae||30 Jnue||30»Juae<br>30 June||3D» June|
||||2021|||2020|2D19|2010|2017|
|Present value ofpian||||||||||
|(htb)lities<br>M<br>I<br>W<br>fpl|6||(31,397,694)<br>22096264|(30.798,169)<br>20021557|||(26,243,731)<br>(22,678,045)<br>17915328<br>15707600||(22,167,697)<br>14834952|
|Surplus/(deficit)||~9301430||SII077 612|||1~821~403<br>~6880365||~732745|
|Experience adjustmenrs|on|||||||||
|plan liabiiities|||(459,639)|||(54,536)|439,114<br>(297285)||1,793|
|Change in assmnptions||||||||||
|underlying<br>present value <br>phm liabilities|of||(416,040)|(3,026482)|||(2,878,488)<br>(1,063,729)||(2,586,016)|





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