Clare College, Cambridge Financial statements for the year ended 30 June 2023 ## |Contact Information
and Advisors||||| |---|---|---|---|---| |Governing
Body||||| |Aims and Objectives ofthe College||||| |Operating
and Financial Review||||6-11| |Reserves Policy||||| |Principal
Risks and Uncertainties||||| |Public Benefit as a Charity||||10| |Statement
ofCorporate Governance||||12| |Statement
of Internal
Control||||12| |Statement
of Responsibilities
ofthe||Trustees ofthe College||13| |Independent
Auditors'
Report to the||Trustees ofthe College||14-16| |Statement
ofPrincipal Accounting|Policies|||17-22| |Consolidated
Statement
ofComprehensive|||Income and Expenditure|23| |Consolidated
Statement
ofChange||m Reserves||24| |Consolidated
and College Balance||Sheets||26| |Consolidated
Cash Flow Statement||||26| |Notes to the Financial Statements||||27 - 41| ## ## ## ## ## ## ## ## ## ## |Dr M Arenas (GBFellow from
2023)|1 October|Professor
Professor|R D Hedley
D A Hodell||||Professor 0 C H Shorttle * (Trustee|Professor 0 C H Shorttle * (Trustee|Professor 0 C H Shorttle * (Trustee|until|30| |---|---|---|---|---|---|---|---|---|---|---|---| |Professor
N H Andrews||Professor|N BHoldstock||||September 2023)||||| |Professor A P Bslmford (GBFellow until 30||Professor|D R Howarth||||The Rev'd Dr M S Smith'||||| |September 2023)||Professor|KE Hughes||||Professor
M Sprlk (GB Fellow until|||30|| |Professor A A Barman||Professor|GSJacobs||||September 2023)||||| |Dr J I Block*(GB Fellow from|1 October|Professor|H FJahn||||Professor R Sterckx||||| |2022, Trustee from
1 October 2023)
Professor
I Budvytis (GBFellow until 30||Professor
Professor|P H Jones
M Kenzie * (GB Fellow from|||26|Dr A M Stillman
Professor S D Stranks||||| |September 2023)||April 2023,Trustee from 1 October 2023)|||||Dr M Tatulea-Codrean||||| |Dr I R Burrows||Dr L R Klee (GBFellow until||30September|||Dr K Tilson (GBFellow from 1 October||||| |ProfessorW J Byrne||2023)|||||2023)||||| |Professor A Cabrera Serrenho||Professor|J Krupic||||Professor A G Thomason||||| |Professor R G Cacho
Professor J Carroll * (Trustee|until 30|Professor
Professor|M BM Lahr
H Leman '||||Professor
H EThompson
Professor F M0Toxvaerd||||| |September 2023)
Dr A P Carler *
Professor A D Chambers
*
Dr H Charman
(GB Fellow from I October||Professor
Professor
Professor
Professor|R Lawson
S M Lazar*
P FLeadlay
I0 Lestas||||Professor EC Turner
Dr LA van Holstein
Professor
H W van Veen *
Professor J EVinuales||||| |2023)
Professor TG Cheaters
Professor CJClarke||Professor
Professor
Professor|T M Lewens
Dame
H M0Leyser
SJ Lockwood *||||Professor R IWatson
Professor
M Weeks
Professor C GWeiss||||| |Professor
N SClayton
Professor R Collepardo-Guevara
Professor
M Dunajski * (Trustee until 30||Professor L Manlscalco
DrT Moore
Professor G I Ogilvie|||||Dr TA H Wilkinson
*
Professor JWolf * (GB Fellow and
until 6December 2022)||Trustee||| |September 2023)
Professor P C Fletcher
Dr T Follini (GB Fellow until 30September||Dr R Pandya
Professor GF Parker *
Professor A Parmar * (GB Fellow from||||1|Professor J M Wyburd
MsJ T Bath (MCR President)
2023)|(until||30June|| |2023)||January 2023,Trustee from||1|October|2023)|Mr T R Else (MCR Vice-President)||(until||30| |Dr EA Foyster||Professor|LC Paulson||||June 2023)||||| |Professor SC Franklin||Professor|RT Phillips||||Mr BBergh (MCR President)|(from||1 July|| |Professor A D Friend (GBFellow until 30||Professor|A Phrlpott||||2023)||||| |September 2023)||DrJ Plant(GB Fellowfrom1||October||2023)|Ms A Crabb (MCR Vice-President)||(from||I| |Professor
M Frolova-Walker||Dr D Pollard|||||July 2023)||||| |ProfessorJ SGibson||Professor|J C Prabhu||||Mr V Kuganathan
(UCS President)|||(until|30| |Professor R C Glen (GBFellow until 30||Professor|A M Preston||||June 2023)||||| |September 2023)
Professor J M Goodman *
Professor
N C Greenham '||DrJ Rempel (GBFellow from
1 October
2023)
Dr K FRiley (GB Fellow until 30September|||||Ms H SWeber (UCS Vice-President)
30June 2023)
Ms SEdser (UCS President)
(from|||(until
1 July|| |Professor H Griffiths||2023)|||||2023)||||| |Dr JAGuy||Mr G A C|Ross||||Ms ECaroe (UCS Vice-President)||(from||1| |Dr R M Hards||Professor|D H Rowitch||||July 2023)||||| |Professor SA Hartnoll||Professor|H LSanson||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||||||2023|||||2022| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Notes|Unrestricte|Restncted|Endowment|Inflation|Swap||Total|Unrestricted|Restricted|Endowment|Infiation Swap|Total| |||||6900|6'000|6'000||F:000||6'000|F:000|F:000|x'000|E000|6'000| |Academic fees and charges|||1|3,436||||||3,436|3,462||||3,462| |Accommodation,
catering and||conferences|2|6,963||||||6,963|4,164||||4,164| |Investment
income|||3a|||3,218||||3,218|||3,354||3,354| |lnfiation swap income|||3c||||||(35)|(35)||||46|48| |Endowment
reWm transferred||to l&Eaccount|3a|1,705|- 2,763|(4,468)|||||i 1,565|2,573|(4,138)||| |Otherincome||||700||||||700|91||||91| |Total income before donations
and endowments||||12,804|2,763|(1,250)|||(35)|1&282|9,282|2,573|(784)|48|11,119| |Donations|||20|858|739|||||1,597|1,015|246|||1,261| |New endowments|||19|||||||309|||1,737||1,737| |Other capital grants for|assets||20||2,802|||||2,802||2,322|||2,322| |Total income||||13662|||||5|18,990|10297|5,141||48|16439| |Expenditure|||||||||||||||| |Education||||4,831|1,662|||||6,493|4,418|1,766|||6,184| |Accommodation,
catering and||conferences||8,763||||||8,763|6.890||||6,800| |Other expenditure||||987|565|213||1,821||3,586|1,314|358|238|1.936|3,846| |Contribufion
under Statute G,||6||99||||||99|87||||87| |Total expenditure||||14,680|2,227|213||1|821|18941|12 709|2 124|238|1936|17007| |Surplus/(deficit)
before other gains and losses||||1,018|4,077|(1,154)||(1,856)||49|,412|3,017|715|(1,888)|(568)| |Gain/(loss)
on disposal|offixed assets|||119||||||119|(16)||||V6)| |Gain/(loss)
on financial|insbumsnts||16|||||4,670||4,670||||5,650|5,650| |Gain/(loss)
on Infiation|Swap|Investments|3c|||||2,524||2,524||||(1,622)|(1,622)| |Gain/(loss)
on investments|||3|1,608|I 158|2,953||||5,720|593|622|1,237||2452| |Surplus/(deficit)
forthe year|||||5+35|||5,338||13,082|(1.835)|3,639|1,952|2,140|5,896| |Other comprehensive|Income||||||||||||||| |Total comprehensive|income forthe year|||709|5 35|||5||13082|35|3639|1 952|2140|5896| ## ## ## |Consolidated
St|atement ofCha|nges|
in Reserves||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||Income and expenditure||reserve||Inflation|Swap|Total| |||||Notes|Unrestricted
P000|Restricted
Endowment
6'000,
6'000||||6'000|6'000| |Balance at 1July 2022|||||208,376|43,037||63,396||8,153|322,962| |Surplus/(deficit)
from|income and expenditure||statement||709|5,235||1,800||5,338|13,082| |Other comprehensive|income||||||||||| |Release ofrestricted|capital funds spent|in year|||||||||| |Transfers between
reserves|||||||||||| |Balance at 30June|2023||||209,085|48,272||65,196||13,491|336,044| ||||||Income and expenditure||reserve||Inflation|Swap|Total| |||||Notes|Unrestricted|Restricted|Endowment||||| ||||||8'000|6'000||Z'000||6'000|6'000| |Balance at 1July 2021|||||204,953|44,656||||6,013|317,066| |Surplus/(deficit)
from|income and expenditure||statement||(1,835)|3,639||1,952||2,140|5,896| |Other comprehensive|income||||||||||| |Release ofrestricted|capital funds spent|in year|||5,258|(5,258)|||||| |Transfers between
reserves|||||||||||| |Balance at 30June|2022||||208,376|43,037||63,396||8,153|322,962| ## ## ## |Salance Sheet|||||||| |---|---|---|---|---|---|---|---| ||||Notes|Group|College|Group|College| |||||2023|2023|2022|2022| |||||2'000|(0000|C000|2'000| |Nonmurrent
Assets|||||||| |Fixed assets|||8|153,214|153,319|146,680|146,782| |Heriitage assets|||sa|342|342|342|342| |Investments|||9a|166,806|168,806|161,018|161,018| |Inflation swap investments|||sb|42,670|42,670|40,181|40,181| |||||363,032|363,138|348,221|348,323| |Current assets|||||||| |Stock|||10|184|184|189|189| |Trade and other receivables|||11|2,400|4,099|2,412|2,306| |Short term investments|||12|13,090|13,090|19,645|19,645| |Cash and cash equivalents|||13|4,426|1,729|7,555|7,175| |||||20,100|19,102|29,801|29,315| |Creditors: amounts
falling due within one year|||14|(4,066)|(3,096)|(3,965)|(3,506)| |Net current assets||||16,034|16,006|25,836|25,809| |Total assets lees current gabgitles||||379,066|379,143|374,057|374,132| |Creditors: amounts
faglng due after more than one|||||||| |year|||15|(38,858)|(38,858)|(42,297)|(42,297)| |Inflafion swap financial|instruments||16|(3,513)|(3,513)|(8,183)|(8,183)| |Pension provisions|||17|(651)|(651)|(615)|(615)| |TOTAL NET ASSETS|||||||| |Restricted reserves|||||||| |Income and expenditure|reserve - endowment|reserve|19|65,196|65,196|63,396|63,396| |Income and expenditure|reserve - restricted reserve||20|48,272|48,272|43,037|43,037| |Income and expenditure|reserve - inflation
swap||15|13,491|13,491|6,153|8,153| |||||126,959|126,959|114,586|114,586| |Unrestricted
reserves|||||||| |Income and expenditure|reserve - unrestricted|reserve||209,085|209,1st|208,376|208,451| |TOTAL RESERVES|||||||323 037| ## ## ||||Notes|2023|2022| |---|---|---|---|---|---| |||||6'000|E'000| |Net cash inflow|from operating|activities|22|3,484|3,317| |Cash flows from|investing
activities||23|(6,347)|(3,040)| |Cash flows from|financing activities||24|(266)|(1,068)| |(Decrease)/increase
in cash In||the year||(3,129)|(791)| |Cash at beginning|ofthe year|||7,555|8,346| |Cash at end ofthe year|||13|4,426|7,555| ## ## ## ## |1 Academic fees and char|ges||||||||| |---|---|---|---|---|---|---|---|---|---| |||||||||2023|2022| |||||||||5'000|f0000| |Fee income received at the|Regulated||||Undergraduate||rate|1,957|2,009| |Fee income received at the|Unregulated||||Undergraduate||rate|502|502| |Fee income received at the|Graduate|||rate||||862|857| |Cambridge
Bursary Scheme||||||||116|94| |||||||||3,436|| |2 Income from accommodation,||catering and||||conferences||2023|2022| |||||||||2'000|5'000| |Accommodation
College|members|||||||3,232|3,035| |Conferences||||||||1,528|107| |Catering
College members||||||||630|826| |Conferences||||||||1,573|196| |3 Endowment
return
and Investment|||||income|||2023|2022| |||||||||f5000|f0000| |3a Analysis|||||||||| |Actual income from:|||||||||| |Land and buildings||||||||1,961|1,838| |Quoted equity securities||||||||409|709| |Fixed interest securities||||||||756|795| |Other interest receivable||||||||92|12| |||||||||3,218|3,354| |(Losses)/Gains
on endowment
assets:|||||||||| |Land and buildings||||||||(3,920)|5,609| |Quoted and other securities|and cash|||||||9,640|(3,157)| |Investment
management
costs (note|||3b)||||||(238)| |Total return on investments|||||||||| |Total return transferred
to income||and||expenditure||reserve||4,468|4,138| |Unapplied
total return
for the|year|included|||||||| |within Statement ofComprehensive|||income and||||||| |Expenditure
(note 21)|||||||||| |Total return on investments||||||||8,725|5,568| |3b Investment
management|costs||| |---|---|---|---| |Land and buildings||213|233| |Quoted securities|||5| |Other investments|||| |Total||213|| ## ## ## ||2023|2022| |---|---|---| ||6'000|8'000| |3cTotal return on inflation swap contracts||| |Actual income from:||| |Quoted securities|(35)|48| |Other interest receivable||| ||(35)|48| |(Loss)/Gain
on inflation swap asset:|2,524|(1,622)| |Inflation-linked
amount due to HSBC (note 15)|(1,561)|(1,459)| |Interest
and fees (note 3d)|(260)|(477)| |Total return on inflation swap contracts (note 21)|688|p,| |3d Interest and|3d Interest and|fees on inflation|swap investments||| |---|---|---|---|---|---| |Interest|paid to|HSBC||(260)|(243)| |Interest|paid to|Santander|||| |||||(926)|(909)| |Interest|received from HSBC|||666|666| |Fees on|inflation|swap investments||(260)|(243)| ## ## ## ## ||||2023|2022| |---|---|---|---|---| ||||K'000|f000| |4Education|expenditure|||| |Teaching|||2,858|2,649| |Tutorial|||1,368|1,222| |Admissions|||1,154|1,176| |Research|||567|548| |Scholarships|and|awards|122|238| |Other educational||facilities|424|351| ||||6,493|6,184| |5Accommodation,||catering and conferences expenditure||| |Accommodation||College members|5,116|5,022| |||Conferences|991|177| |Catedng||College members|1,735|1,367| |||Conferences|921|324| ||||8,763|6,890| ## |6a Analysis|of|2023 expenditure
by activity||||| |---|---|---|---|---|---|---| ||||Staff costs|Other||| ||||(note 7)|expenses|Depreciation|2023| ||||f000|R'000|r'000|5'000| |Education|||3,077|2,320|1,096|6,493| |Accommodation,||catering and conferences|4,260|2,799|1,704|8,763| |Other|||590|2,928|68|3,586| |Contribution|under statute G, II|||99||| ||||7,927|8,146|2,868|18,941| |eb Analysis|of|2022 expenditure
by activity||||| |---|---|---|---|---|---|---| ||||Staff costs|Other||| ||||(note 7)|expenses|Depreciation|2022| ||||f000|8'000|6'000|8'000| |Education|||2,724|2,316|1,144|6,184| |Accommodation,||catering and conferences|3,219|1,893|1,778|6,890| |Other|||729|3,045|72|3,846| |Contribution|under statute G, II|||87||87| ||||6,672|7,341|2,994|17,007| ## ## ## ## |6cAuditors'|remuneration|remuneration|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||2023||2022||| ||||||||||0000||ff000||| |Other operating||expenses|include:||||||||||| |Audit fees payable to the College's external auditors||||(indusive ofVAT)|||||39||32||| |Other fees payable to the|||College's external auditors|(infusive ofVAT)|||||||||| |7Staff costs|||||||||||||| |||||||Other|||Non-||||| |Stafcosts:||||College Fellows
R'000||academic
F'000||academic
ff000||2023
k'000|||2022
E'000| |Salariies
National
insurance||||1,219
149|||554
8||4,918
435|6,692
591|||5,337
464| |Pension costs||(see note 28)|||124||0||520||644||871| |||||1,492||562|||5,873|7,927|||6,672| |Average numbers:|||||||||||||| |||||||Average|staff numbem||2023|Average|staff|numbers|2022| |||||||Number||Fug-time||Number||Full.|time| |||||||||equivalents||||equivalents|| |Academic|||||||74||66||67||54| |Non-academic||||||232|||168||234||131| |At the Balance||Sheet date|there were 97members ofthe Governing||Body.|During the|year the average number|||receiving|remunerason||was| |the 74 shown|above||||||||||||| ## ## ## |8Tangible Fixed Assets||||||| |---|---|---|---|---|---|---| |||Land &|Assets in|||| |Group||euildlngs|construction|Equipment|2023|2022| |||8'000|E'000|0000|5'000|8'000| |Cost||||||| |At start ofyssr'||153,147|13,167|3,680|169,994|166,029| |AddiTions
and improvements
Dlsposals st cost|at cost|38|9,283|246|9,568
~20D|6,698
~2733| |Atend ofyear||152,985|22,450|3,926|179,362|169,994| |Oepreclseon||||||| |Atstarlofyear
Charge for the year
Eliminated
on disposals||2D,140
2,775||3,176
93|23,316
2,868
~37|20,513
2,995
~192| |At end ofyear||22,878||3,269|26,147|23,316| |Net book value
At end ofyear||130,107|22,450|657|~153214|146,678| |At start ofyear||||504|146,678|145,516| |||Land &|Assets In|||| |College||buildings|construction|Equipment|2023|2022| |||E'000|r.'000|r.'000|E'DDD|5'000| |Cost||||||| |At start ofyear
AddiTions and improvements
Olspossls et cost|at cost|153,121
38|13,297
9,283|3,680
246|17D,098
9,568
~00|166,133
6,698
~2733| |At end ofyear||152,959|22,580|3,926|179,485|170,098| |Depreciation||||||| |At start ofyear
Charge forthe year
Eliminated
on disposais||2D,140
2,775||3,175
93|23,315
2,868
~37|20,513
2,995
~192| |At end ofyear||22,878||3,288|26,146|23,316| |Net book value
At end ofyear||||658|153,319|~146782| |At start ofyear||||505|~146782|145620| ## ## ## ## |Amounts
for the current|Amounts
for the current|and previous|and previous|years were ss follows:||||| |---|---|---|---|---|---|---|---|---| |||||||2023|2022|| |||||||E'000|8'000|| |Value ofacquisitions|capitalised||at start ofyear|||342|342|| |Acquistions
purchased
with specific donations||||||||| |Acquisitions
purchased||with College||funds||||| |Total cost ofacquisitions||purchased||||||| |Value ofacquistions|by|donation||||||| |Total acquisitions
capita/ised||||||342|342|| |9a Investments||||||||| ||||||SecuriTies and cash|Property|2023|2022| ||||||E'000|E'000|5'000|8'000| |Market value at start|of|year|||119,791|41,227|161,018|156,842| |Additions
Oisposal proceeds
Gain/(loss)|||||2,855
9,640|(3,920)|2,855
5,720|27,737
(24,547)
2,452| |Increase/(decrease)|in cash balances|||held at fund managers||||| |Market value at end|ofyear||||129,499|37,307|166,806|161,018| |Represented
by:||||||||| |Property
investment|||||||37,3D8|41,227| |Quoted securities - equities|||||||107,130|97,D38| |Quoted securities
—fixed||mterest|||||335|370| |Unquoted
securities|- equities||||||19,457|17,02D| |Alternative
assets||||||||| |Cash held for reinvestment||||||||| |Total||||||||| ## ## ## ## ||||Securities|Cash|2023|2022| |---|---|---|---|---|---|---| ||||E'000|E'000|E'000|E'000| |Market value at stari ofyear|||39,367|814|40,181|41,755| |Additions||||||| |Disposal||||||| |Gain/(loss)|||2,524||2,524|(1,622)| |Increase
in cash|balances|held at fund managers||||48| |Market value at end ofyear|||41,891|779|42,670|40,181| |Represented
by:||||||| |Quoted securities|—equities||||41,891|39,367| |Cash held for reinvestment|||||779|814| |Market value at end ofyear||||||| ## |Country of|||| |---|---|---|---| |Incorporation|Cost|Class of|Proportion
of| |and Operation|E|shares|shares held| |United
Kingdom|20,001|Ordinary|100'/o| |United
Kingdom|1|Ordinary|100%| |10Stocks|2023|2022| |---|---|---| |Group and college|E'000|E'000| |Goods for resale|182|187| |Other stocks|2|2| |Total||| ## ## |11Trade|and other receivables|and other receivables|and other receivables|and other receivables|and other receivables|Group|College|Group|College| |---|---|---|---|---|---|---|---|---|---| |||||||2023|2023|2022|2022| |||||||5'000|8'000|6'000|6'000| |Members|ofthe College|||||110|110|133|134| |University|fees||||||||| |Other receivables||||||796|718|1,061|727| |Amounts|due from subsidiary||||undertakings||1,777||227| |Prepayments
and accrued||||income||||1,218|1,218| |12Short|term investments|||||Group|College|Group|College| |||||||2023|2023|2022|2022| |||||||6'000|6'000|k'000|6'000| |Bank deposits||||||13,090|13,090|19,645|19,645| |Properties|held for sale||||||||| |13Cash|at bank and|in|hand|||Group|College|Group|College| |||||||2023|2023|2022|2022| |||||||2'000|8'000|8'000|2'000| |Current accounts||||||4,426|1,729|7,554|7,174| |Cash in hand||||||||1|1| ||||||||9||| |14Creditors: amounts|||falling due within one year|||Group|College|Group|College| |||||||2023|2023|2022|2022| |||||||8'000|6'000|6'000|6'000| |Trade creditors||||||746|746|665|890| |Members|ofthe College|||||87|87|100|100| |University|fees|||||268|268|890|890| |College student societies||||||145|145|145|145| |Contribution
to Colleges'|||fund|||99|99|87|87| |Other creditors||||||9|9|85|85| |Amounts|due to subsidiary|||undertakings|||||3| |Accruals|and deferred|income|||||1,742|1,993|1,306| |||||||4,066|3,096|3,965|3,506| ## |15Creditors:|amounts|falling due after more than one year|2023|2022| |---|---|---|---|---| |Group and college|||E'000|0000| |Loan repayable|in 2048 to Santander||15,000|15,000| |lnfiation-linked|amount|due to HSBC|8,858|7,297| |Otherloans||||20,000| ||||38,858|42,297| |16inflation swap financial|16inflation swap financial|16inflation swap financial|instruments|instruments|||||| |---|---|---|---|---|---|---|---|---|---| |Group and college||||||||2023|2022| |||||||||6'000|E'000| |Balance at beginning
of|year|||||||8,183|13,833| |Charge to comprehensive||income||||||(4,670)|(5,650)| |Balance at end ofyear|||||||||| |Denvatives
mark to market
see note 15||valuation||on inflation|Imked swap|For further explanation|regarding|ihe Inflation|swap rinanaal
instruments| |17Pension provisions|-USS||||||||| |||||||||2023|2022| |Group and college||||||||E'000|E'000| |Balance at beginning
ofyear||||||||615|281| |Movement
in year.|||||||||| |Contributions
Change
in expected contributions||||||||(26)
62|(12)
344| |Other finsnce cost|||||||||2| |Balance at end ofyear||||||||651|615| |18Capital and other commitments|||||||||| |||||||||2023|2022| |Group and College||||||||E'000|r.'000| |Authorised
and contracted||||||||3,748|8,956| |Authorised
and but not yet||contracted||for||||12,326|1,275| ## ## ## ## ## ## ## ||||||||2023|2022| |---|---|---|---|---|---|---|---|---| ||||||||5'000|6'000| |Surplus for the year|||||||13,082|5,896| |Adjustment
for non-cash||items||||||| |Depreciation|||||||2,868|2,993| |(Gain)/Loss
on disposal|of|non-current|||assets||(119)|16| |(Gain)/loss
on endowments,||donations|||and investment|property|(8,244)|(803)| |(Increase)/Decrease
in|stocks||||||5|9| |Decrease/(Increase)
in|debtors||||||12|(1,397)| |(Decrease)/Increase
in|creditors||||||1,663|3,147| |Pension costs less contributions||||payable|||36|334| |Movement
in provisions|||||||(4,670)|(5,650)| |Adjustment
for investing||or financing|||activities|||| |Investment
income|||||||(3,218)|(3,354)| |Inflation swap income|||||||35|(48)| |Interest payable|||||||2,487|2,368| |interest receivable|||||||(666)|(666)| |Management
fees|||||||213|472| |Net cash inflow from operating||||activities||||3,317| |23Cash flows from investing|||activities|||||| ||||||||2023|2022| ||||||||6'000|6'000| |Proceeds on disposal of investments||||||||24,547| |Proceeds on disposal of inflation||||swap|investments|||| |Investment
income|||||||3,183|3,401| |Investment
costs|||||||(213)|(472)| |Endowment
funds invested|||||||(68)|(26,286)| |Inflation swap invested|||||||35|(56)| |Proceeds on disposals
on non-current
assets
Payments
made to acquire non-current
assets
Total cash flows from investing
activities|||||||284
6347|2,524
~8,698
3,040| |24 Cash flows from financing|||activities|||||| ||||||||2023|2022| ||||||||6'000|U000| |Interest paid|||||||(2,487)|(2,368)| |Interest received|||||||666|666| |Loans repaid|||||||(5,000)|| |Cash held on short term deposit|||||||6,555|634| |Total cash flows from|financing|||activities||||1 068| ## ## ## |25Conso|lidated
reconcl|gatlo|n||and||analysis of ne|t debt||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||At 1July
2022|Cash Flows|At30June| |||||||||||2000|8000|8000| |Cash and|Cash Equivalents|||||||||7 555|3129|4426| |||||||||||At 1July|Changes
in|At30June| |Borrowings:||||||||||2022|Slarket value|2023| |amounts|falling due after more||||than||one year|||||| |Secured|Loan (repayable
in||2048 to||||Santander)|||15,000||15,000| |Unsecured
loans||||||||||20,000|(5,000)|15,000| |Derivatives
(Inflation-linked|||amount||||due to HSBC)|||7,297|1,561|8,858| |Total||||||||||42,297|(3,439)|38,858| |26 Financial Instruments|||||||||||2023|2022| ||||||||||||2000|2000| |Financial|assets|||||||||||| |Financial|assets at fair value through|||||Statement ofCompn:hensive|||income|||| |Quoted|equity and fixed|interest|||investments||||||107,465|97,408| |Financial|assets that are|equity||insiruments
measured||||at cost less impairment||||| |Unquoted
equity investments|||||||||||19,457|17,020| |Alternative
assets||||||||||||| ||||||||||||126,922|114,428| |Financial|liabilities|||||||||||| |Financial|liabilities at fair|value||through|||Steiement of|Comprehensive|Income|||| |In8atlon-linked
amount||due|to HSBC||||||||8,858|7,297| |Inflation|swap financial|instruments|||||||||3,513|8,183| ||||||||||||12,371|15,480| |Net Total|||||||||||114,551|98,948| ## ## ## ## ## ## ## ## ## ## ## ## |The current
life|expectancies
on retirement|at age 65 are:|||| |---|---|---|---|---|---| |||2023|2022|2021|2020| |Males currently|aged 65 (years)|24,0|23.9|24.6|24.4| |Females currently
aged 65 (years)||25.6|25.5|26.1|25.9| |Males currently|aged 45 (years)|26.0|25.9|26.6|26.3| |Females
currently
aged 45 (years)||27.4|27.3|279|27.7| ## ## ## ## ## ## ## |(c)Summary|of pe|nsion c|osts||| |---|---|---|---|---|---| |||||2023|2022| |||||F000|8'000| |Universities|Superannuation||Scheme|124|434| |Clare Contributory||Pension Scheme||520|437| |NEST|||||| |Total pension|costs|(note 7)|||871|