## 




## 

## 

|Trustees’ Annual Report and Accounts 2020/21||
|---|---|
|Reference and Administrative Details|2|
|Report ofthe College Council|3|
|Independent auditors’ reportto the Council of Gonville & Caius College, Cambridge|15|
|Statement of Principal Accounting Policies for the Year Ended 30 June 2021|19|
|Consolidated Statement ofComprehensive Income and Expenditure for the Year Ended 30 June 2021|27|
|Consolidated Statement of Changes in Reserves|28|
|Consolidated Balance Sheet as at 30June 2021|29|
|Consolidated Cash Flow Statement as at 30 June 2021|30|
|Notes to the Accounts 2020/21|31|





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## 

||2020/21|2019/20|%|Change|
|---|---|---|---|---|
|Undergraduate|619|603||+2.7|
|Postgraduate|252|225||+12.0|
|Total|871|828||+5.2|



## 

## 

## 

## 

||2020/21|2019/20|Change|
|---|---|---|---|
||£000|£000|£000|
|Income|3,980|3,868|112|
|Expenditure|(8,882)|(7,946)|(936)|
|Net Cost|(4,902)|(4,078)|(824)|





||2020/21|2019/20|Change|
|---|---|---|---|
||£000|£000|£000|
|Teaching|3,516|3,472|+44|
|Tutorial and student welfare|1,341|1,286|+55|
|Admissions|290|346|-56|
|Research|1,026|1,070|-44|
|Scholarships and awards|1,991|1,054|+937|
|Other educational facilities|690|685|+5|
|Other educational expenses|28|33|-5|
|Totals|8,882|7,946|+936|



## 

## 

|gures are summarised below.||||
|---|---|---|---|
||2020/21|2019/20|Change|
||£000|£000|£000|
|Drawdown permitted under spending rule|5,305|5,349|(44)|
|Reduction due to unrestricted donations|(3,413)|(2,843)|(570)|
|Sub-total|1,892|2,506|(614)|
|Gross up for costs ofinvestment management|-|2,250|(2,250)|
|Endowmenttransfer in the Statement of Comprehensive||||
|Income and Expenditure|1,892|4,756|(2,864)|



## 



## 

||||3OJune 2021|3OJune 2020|Change|
|---|---|---|---|---|---|
|Number|of|Fellows|108|107|1|
|Number|of|Staff (FTEs)|145|148|(3)|



## 

## 

## 



|he investment asset allocation comprises:||||||
|---|---|---|---|---|---|
||June21|June20|June19|June18|June17|
||£000|£000|£000|£000|£000|
|Total Return|17.3%|1.8%|3.9%|7.7%|12.7%|
|Cash|8,497|8,338|12,419|8,413|2,924|
|Fixed income||266||||
|Credit|5,442|5,256|6,243|2,851|2,858|
|Hedge funds<br>—absolute return|7,252|3,878|12,225|11,998|15,251|
|Hedge funds<br>—hedged equities|11,228|12,411|10,630|13,604|15,870|
|Public equity|93,310|77,559|62,222|60,935|56,359|
|Private equity|24,399|18,676|21,933|17,609|16,421|
|Private debt|4,832|4,367|4,661|5,405|5,795|
|Core property|91.607|84,271|88,710|91,222|87,776|
|Property funds|2,503|2,365|4,591|5,540|2,849|
|Infrastructure and operating assets|5,232|4,671||||
|Contractual and other income|1,606|1,770||||
|Inflation linked bonds and inflation hedges|3,922|2,512|3,825|3,517|3,897|
|Total Investments|259,830|226,340|227,459|221,094|210.000|
|Private Placement|(10,000)|(10,000)|(10,000)|(10,000)|(10,000)|
|Net Investments|249,830|216,340|217,459|211,094|200,000|



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|fortheYearEnded 30 June 2021|2020|Unrestricted<br>Restricted<br>Endowment<br>Total|£000<br>£000<br>£000<br>£000|3,719<br>149<br>-<br>3,868|4,474<br>-<br>4,474|-<br>-<br>5,623<br>5,623|2,009<br>2,747<br>(4,756)<br>-|448<br>-<br>-<br>448|10,650<br>2,896<br>867<br>14,413|2,843<br>69<br>-<br>2,912|-<br>42<br>871<br>913|-<br>56<br>-<br>56|13,493<br>3,063<br>1,738<br>18,294||6,356<br>1,590<br>-<br>7,946|6,431<br>-<br>-<br>6,431|819<br>1,079<br>-<br>1,898|194<br>-<br>-<br>194|13,800<br>2,669<br>-<br>16,469|(307)<br>394<br>1,738<br>1,825|2,550<br>(10)<br>(2,134)<br>406|2,243<br>384<br>(396)<br>2,231||(923)<br>-<br>-<br>(923)|1,320<br>384<br>(396)<br>1,308||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|ConsolidatedStatementofComprehensiveIncomeandExpenditure|2)21|Note<br>Unrestricted<br>Restricted<br>Endowment<br>Total|Income<br>£000<br>£)00<br>£000<br>£000|Academicfees and charges<br>-<br>3,80<br>1<br>3,805<br>175|Accommodation, cateringand conferences<br>-<br>3,567<br>2<br>3,667|Investment income<br>4,895<br>4,395<br>3<br>-|Endowment return transferred<br>(1,892)<br>-<br>3<br>-<br>1,892|Other income<br>-<br>59<br>259|Total income before donations and endowments<br>3,003<br>12,301<br>7,731<br>2,067|Donations<br>-<br>3,305<br>3,705<br>100|New endowments<br>1,026<br>1, )91<br>65|Other capital grants forassets<br>-<br>148<br>148|Total income<br>11,436<br>2,380<br>4,029<br>17,345|Expenditure|Education<br>7,026<br>1,856<br>-<br>8,382<br>4|Accommodation, catering and conferences<br>6,330<br>-<br>-<br>6,330<br>5|Otherexpenditure<br>997<br>112<br>6,008<br>7,117<br>6|Contribution underStatute G,ll<br>206<br>-<br>-<br>206|Total expenditure<br>14,559<br>1,968<br>6,008<br>22,335|Surplus/(deficit) before other gains and losses<br>(3,123)<br>412<br>(1,979)<br>(4,E90)|Gain/(loss) on investments<br>23,921<br>699<br>13,968<br>38,588<br>3|Surplus/(deficit) forthe year<br>20,798<br>1,111<br>11,989<br>33,398|Other comprehensive income/(expenditure)|Actuarial gain/(loss) in respect of pension schemes<br>1,780<br>-<br>-<br>1,780<br>16|Total comprehensive income forthe year<br>22,578<br>1,111<br>11,989<br>35,578|The notes on pages 31 to 54 form part ofthese accounts.|





||||||Total|£000|341,927|33,898|1,780||-|377,604|340,619|2,231|(923)|-|341,927||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|GONVILLE & CAlus COLLEGE|ConsolidatedStatementofChanges in Reserves|Year ended 30June 2021||Income and expenditure reserve|Unrestricted<br>Restricted<br>Endowment|£000<br>£000<br>£000|Balance at 1 July 2020<br>262,405<br>4,614<br>74,908|Surplus/(Deficit) from income and expenditure statement<br>20,798<br>1,111<br>11,989|Other comprehensive income/(expenditure)<br>1,780<br>-<br>-|Transfer between restricted and endowmentfunds<br>2,269<br>(2,269)|Release of restricted capital funds spent in the year<br>148<br>(148)<br>-|Balance at 30June 2021<br>285,130<br>7,846<br>84,628|Balance at 1July 2019<br>261,029<br>4,286<br>75,304|Surplus/(Deficit)from income and expenditure statement<br>2,243<br>384<br>(396)|Othercomprehensive income<br>(923)<br>-<br>-|Release of restricted capital funds spent in the year<br>56<br>(56)<br>-|Balance at 30June 2020<br>262,405<br>4,614<br>74,908|The notes on pages 31 to 54 form part ofthese accounts.|





||||2021|2020|
|---|---|---|---|---|
||||£000|£000|
|||Note|||
|Non-current assets|||||
|Fixed assets||9|137,705|136,367|
|Heritage assets||9|120|113|
|Investment assets||10|259,830|226,340|
|Total non-current assets|||397,655|362,820|
|Current assets|||||
|Stock||11|594|629|
|Trade and other receivables||12|3,036|3,112|
|Cash and cash equivalents||13|3,389|3,371|
|Total current assets|||7,019|7,112|
|Creditors: amounts falling due|||||
|within one year||14|(4,484)|(3,393)|
|Net Current assets|||2,535|3,719|
|TntI 4ccptc Iecc r,irrpnt I[hjljtjpc|||400 iqn||
|Creditors: amounts fallingdue|||||
|after more than one year||15|(15,584)|(15,942)|
|Net assets excluding pension liability|||384,606|350,597|
|Net pension liability||16|(7,002)|(8,670)|
|Net assets|||377,604|341,927|
|Restricted reserves|||||
|Income and expenditure reserve|—endowment reserve|17|84,628|74,908|
|Income and expenditure reserve|— restricted reserve|18|7,846|4,614|
|Unrestricted reserves|||||
|Income and expenditure reserve|— unrestricted||285,130|262,405|
|Total Reserves|||377,604|341,927|





## 

||Note|2021|2020|
|---|---|---|---|
|||£000|£000|
|Net cash inflow /(outflow) from operating activities|20|47|(2,148)|
|Cash flows from investing activities|21|970|800|
|Cash flows from financing activities|22|(999)|3,129|
|lncrease/(decrease) in cash and cash equivalents in the year|23|18|1,781|
|Cash and cash equivalents at beginning ofthe year||3,371|1,590|
|Cash and cash equivalents at end ofthe year||3,389|3,371|





## 

|No|tes to theAccounts 20|20/21|||
|---|---|---|---|---|
||Academic fees and charges||||
||||2021|2020|
||||£000|£000|
||College fees:||||
||Fee income received at the Regulated||||
||Undergraduate rate||2,520|2,441|
||Fee income received at the||||
||Unregulated Undergraduate rate||536|547|
||Fee income received at the graduate||||
||rate||708|698|
||||3,764|3,686|
||Income for Cambridge Bursaries||175|149|
||Other income||41|33|
||Total||3,980|3,868|
|2|Income from||||
||accommodation, catering||||
||and conferences||2021|2020|
||||£000|£000|
||Accommodation|College members|3,073|2,784|
|||Conferences|69|792|
||Catering|College members|470|542|
|||Conferences|55|356|
||Total||3,667|4,474|





## 

|3a|Analysis|||
|---|---|---|---|
|||2021|2020|
|||£000|£000|
||Total return contribution (see note 3b)|1,892|4,756|
|3b|Summary ofTotal Return|||
|||2021|2020|
||Income from:|£000|£000|
||Land and buildings|3,075|3,365|
||Quoted and other securities and cash|1,820|2,257|
||Gains on endowment assets:|||
||Land and buildings|7,435|(4,361)|
||Quoted and other securities and cash|31,152|4,767|
||Investment Management costs (see note 3c)|(6,008)|(2,250)|
||Total Return for year|37,474|3,778|
||Total Return transferred to Income and Expenditure|||
||Account|(1,892)|(4,756)|
||Investment management costs (see note 3c)||2,250|
||Total return expendable amount|(1,892)|(2,506)|
||Unapplied Total Return for Year included within|||
||Statement ofComprehensive Income and Expenditure|||
||(see note 19)|35,582|1,271|
|3c|Investment management costs|2021|2020|
|||£000|£000|
||Land and buildings|1,582|1,070|
||Other investments|4,426|1,180|
||Total|6,008|2,250|





|Education Expenditure|2021|2020|
|---|---|---|
||£000|£000|
|Teaching|3,516|3,472|
|Tutorial|1,341|1,286|
|Admissions|290|346|
|Research|1,026|1,070|
|Scholarships and awards|1,991|1,054|
|Other educational facilities|690|685|
|Other educational expenses|28|33|
|Total|8,882|7,946|



## 

|5|Accommodation, Catering and Conferences Expenditure|Accommodation, Catering and Conferences Expenditure|2021|2020|
|---|---|---|---|---|
||||£000|£000|
||Accommodation:|College members|4,836|4,529|
|||Conferences|43|343|
||Catering:|College members|1,312|1,100|
|||Conferences|139|459|
||Total||6,330|6,431|
|6|Other Expenditure||2021|2020|
||||£000|£000|
||Investment management and administration||5,557|1,780|
||Interest||667|640|
||Pension scheme losses (gains) and other non-cash pension charges||151|(1,397)|
||Other general and administrative||742|875|
||Total||7,117|1,898|



## 

|Analysis of2020/2021 Expenditure by Activity|||||
|---|---|---|---|---|
|||Other|||
||Staffcosts|Operating|Depreciation||
||(Note 8)|Expenses|(Note 9)|Total|
||£000|£000|£000|£000|
|Education (note 4)|4,081|4,319|482|8,882|
|Accommodation, catering and conferences (note 5)|3,141|1,580|1,609|6,330|
|Other (note 6)|466|6,647|4|7,117|
|Contribution under Statute G,ll|-|206|-|206|
|Total|7,688|12,752|2,095|22,535|





## 

|Analysis of2019/2020 Expenditure by Activity|||||
|---|---|---|---|---|
|||Other|||
||Staffcosts|Operating|Depreciation||
||(Note 8)|Expenses|(Note 9)|Total|
||£000|£000|£000|£000|
|Education (note 4)|4,049|3,456|441|7,946|
|Accommodation, catering and conferences (note 5)|3,432|1,477|1,522|6,431|
|Other (note 6)|479|1,415|4|1,898|
|Contribution under Statute G,ll|-|194|-|194|
|Total|7,960|6,542|1,967|16,469|



## 

||||
|---|---|---|
|Auditors’ remuneration|2021|200|
||£000|£000|
|Other operating expenses include:|||
|Audit fees payable to the College’s external|||
|auditors|29|26|
|Other fees payable to the College’s external|||
|auditors|3|7|
|Total|32|33|




## 

|Staffcosts|||||
|---|---|---|---|---|
|||Non-|Total|Total|
||Academic|academic|2021|2020|
||£000|£000|£000|£000|
|Salaries|1,978|4,136|6,114|6,366|
|National insurance|235|332|567|576|
|Other pension costs|436|571|1,007|1,018|
|Total|2,649|5,039|7,688|7,960|




||Average staff|numbers 2021|Average staff numbers 2020|Average staff numbers 2020|
|---|---|---|---|---|
||Number of|Number of|Number of|Number of|
||Fellows|Non-Fellows|Fellows|Non-Fellows|
|Academic (number receiving a stipend)|77|10|74|13|
|Non-Academic (full-time equivalents)|2|145|2|148|
|Total|79|155|76|161|





## 

|Fixed Assets|||||||
|---|---|---|---|---|---|---|
||Land|College|||||
|||Buildings|Assets in|Furniture &|Total|Total|
||||construction|Equipment|2021|2020|
||£000|£000|£000|£000|£000|£000|
|Cost/Valuation|||||||
|At beginning ofyear|62,220|80,637|4,385|333|147,575|143,876|
|Additions|-|3,202|118|113|3,433|3,732|
|Disposals at|||||||
|cost/valuation||||(79)|(79)|(33)|
|Transfers||4,257|(4,257)|-|||
|At end ofyear|62,220|88,096|246|367|150,929|147,575|
|Depreciation|||||||
|At beginning ofyear||11,036|-|172|11,208|9,274|
|Charge for the year||2,017||78|2,095|1,967|
|Flimintr1 on|||||||
|disposal||||(79)|(79)|(33)|
|At end ofyear||13,053||171|13,224|11,208|
|Net bookvalue|||||||
|At<br>end<br>of<br>year|62,220|75,043|246|196|137,705|136,367|
|At beginning ofyear|62,220|69,601|4,385|161|136,367|134,602|





## 

||2021|2020|2019|2018|2017|
|---|---|---|---|---|---|
||£000|£000|£000|£000|£000|
|Balance brought forward|113|101|97|90|90|
|Acquisitions purchased with College||||||
|funds|7|12|4|7|-|
|Total|120|113|101|97|90|
|10 Fixed Asset Investments||||2021|2020|
|||||£000|£000|
|Balance at beginning ofyear||||226,340|227,459|
|Additions||||36,717|81,252|
|Disposals||||(30,957)|(79,259)|
|Appreciation||||33,875|406|
|(Decrease)/lncrease in cash balances held||||||
|by fund managers||||(6,145)|(3,518)|
|Balance at end ofyear||||259,830|226,340|
|||||2021|2020|
|Represented by:||||£000|£000|
|Cash||||8,497|8,338|
|Fixed income||||-|266|
|Credit||||5,442|5,256|
|Hedge funds<br>- absolute return||||7,252|3,878|
|Hedge funds<br>- hedged equities||||11,228|12,411|
|Public equities||||93,310|77,559|
|Private equity||||24,399|18,676|
|Private debt||||4,832|4,367|
|Core property||||91,607|84,271|
|Property funds||||2,503|2,365|
|Infrastructure and operating assets||||5,232|4,671|
|Contractual and other income||||1,606|1,770|
|Inflation linked bonds and inflation hedges||||3,922|2,512|
|Total||||259,830|226,340|





|11|Stocks and work in progress|2021|2020|
|---|---|---|---|
|||£000|£000|
||Wine stocks|579|619|
||Bar, kitchen and other stocks|15|10|
||Total|594|629|
|12 Trade and other receivables||||
|||2021|2020|
|||£000|£000|
|Members ofthe College||287|250|
|Commercial rents||453|679|
|Donations||2,083|1,831|
|Other debtors||127|283|
|Prepayments and accrued income||86|69|
|Total||3,036|3,112|
||Cash and cash|||
||13<br>equivalents|||
|||2021|2020|
|||£000|£000|
||Current accounts|3,389|3,371|
||Total|3,389|3,371|
|14|Creditors: amounts falling due within one|||
||year|||
|||2021|2020|
|||£000|£000|
||Trade creditors|2,682|1,781|
||Bank loan due for repayment within a year|360|360|
||Members ofthe College|616|458|
||University fees|65|37|
||Commercial rent deferred income|486|528|
||Contribution to Colleges Fund|206|194|
||Other creditors|69|35|
||Total|4,484|3,393|





|Creditors: amounts fallingdue<br>after one year|||
|---|---|---|
||2021|2020|
||£000|£000|
|Bank loans|5,584|5,942|
|Other loans|10,000|10,000|
|Total|15,584|15,942|





## 

|Year to 30 June 2021|||||
|---|---|---|---|---|
||CCFPS|USS|Other|Total|
||£000|£000|£000|£000|
|Balance at beginning ofyear|6,753|1,594|323|8,670|
|Movement in year:|||||
|Current service cost including life|||||
|assurance|251|-|(3)|248|
|Contributions|(302)|(82)|(44)|(428)|
|Change in expected contributions|-|176|-|176|
|Other finance cost|99|12|4|115|
|Actuarial (gain)/loss recognised in|||||
|Statement ofComprehensive|||||
|Income and Expenditure|(1,790)||11|(1,779)|
|Balance at end ofyear|5,011|1,700|291|7,002|
|Year to 30 June 2020|||||
||CCFPS|USS|Other|Total|
||£000|£000|£000|£000|
|Balance at beginning of year|5,789|3,053|339|9,181|
|Movement in year:|||||
|Current service cost including life|||||
|assurance|248|-|(3)|245|
|Contributions|(314)|(46)|(44)|(404)|
|Change in expected contributions|-|(1,461)|-|(1,461)|
|Other finance cost|131|48|7|186|
|Actuarial (gain)/loss recognised in|||||
|Statement of Comprehensive|||||
|Income and Expenditure|899|-|24|923|
|Balance at end ofyear|6,753|1,594|323|8,670|





|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|17|Endowmentfunds|Permanent|Permanent|2021|2020|
|||£000|£000|£000|£000|
||Balance at beginning ofyear:|||||
||Capital|74,908|-|74,908|75,304|
||New donations and endowments|1,026|-|1,026|872|
||Increase! (Decrease) in market|||||
||value of investments|10,963|-|10,963|(1,268)|
||Transferto restricted funds|(2,269)||(2,269)|-|
||Balance at end ofyear|84,628|-|84,628|74,908|
||Analysis bytype of purpose|||||
||Fellowship, Research, Scholarship|||||
||and Studentship Funds|64,976|-|64,976|58,191|
||Prizes Funds|782|-|782|679|
||Bursaries, Hardship and Travel|||||
||Funds|9,109|-|9,109|7,570|
||General and Other Trust Funds|9,761|-|9,761|8,468|
||Balance at end ofyear|84,628|-|84,628|74,908|
||Analysis byasset|||||
||Property|32,361|-|32,361|30,335|
||Investments|49,558|-|49,558|41,950|
||Cash|2,709|-|2,709|2,623|
||Balance at end ofyear|84,628|-|84,628|74,908|





||||Permanent||||
|---|---|---|---|---|---|---|
|||Capital|Unspent and|Restricted|||
|||Grants|other restricted|expendable|||
|18|Restricted Reserves|unspent|income|endowment|Total 2021|Total 2020|
|||£000|£000|£000|£000|£000|
||Balance at beginningof||||||
||year:||||||
||Capital|-||774|774|737|
||Accumulated income|-|3,840|-|3,840|3,549|
||Total|-|3,840|774|4,614|4,286|
||New grants|148|175|-|323|205|
||New donations|-|100|66|166|111|
||Endowment return||||||
||transferred|-|1,873|18|1,891|2,747|
||Increase in market value|-|582|117|699|(10)|
||Expenditure||(1,965)|(3)|(1,968)|(2,669)|
||Capital grants utilised|(148)|-|-|(148)|(56)|
||Iranster from||||||
||endowment funds||1,317|952|2,269|-|
||Total|-|5,922|1,924|7,846|4,614|
||Balance at end ofyear||||||
||Capital|-|-|1,924|1,924|774|
||Accumulated income|-|5,922|-|5,922|3,840|
||Total|-|5,922|1,924|7,846|4,614|
||Analysis ofrestricted||||||
||funds bytype of purpose||||||
||Analysis bytype of||||||
||purpose||||||
||Fellowship, Research,||||||
||Scholarship and||||||
||Studentship Funds|-|4,816|952|5,768|2,979|
||Prizes Funds|-|300||300|245|
||Bursaries, Hardship and||||||
||Travel Funds|-|684|972|1,656|1,270|
||General and Other Trust||||||
||Funds||122||122|120|
||Total|-|5,922|1,924|7,846|4,614|





|19|Memorandum of Unapplied Total Return||||
|---|---|---|---|---|
||Included within reserves, the following amounts represent the||||
||Unapplied Total Return ofthe College:|Note|2021|2020|
||||£000|£000|
||Unapplied Total Return at beginning ofyear||113,248|111,977|
||Unapplied Total Return for the year|3b|35,582|1,271|
||Unapplied Total Return at end ofyear||148,830|113,248|
||Reconciliation ofconsolidated surplus for the year to net cash||||
|20|inflow/(outflow)from operating activities||2021|2020|
||||£000|£000|
||Surplus for the year||35,678|1,308|
||Adjustment for non-cash items||||
||Depreciation||2,094|1,967|
||Gain on endowments, donations and investment property||(38,588)|(406)|
||Decrease (increase) in stocks||35|9|
||Decrease/(increase) in trade and other receivables||1,092|(1,161)|
||lncrease/(decrease) in creditors||76|(152)|
||Pension costs less contributions payable||(1,669)|(511)|
||Adjustment for investingor financing activities||||
||Investment income||(4,895)|(5,623)|
||Investment expenditure||5,557|1,780|
||Interest payable||667|641|
||Net cash inflow/(outflow) from operating activities||47|(2,148)|
|21|Cash flows from investing activities||2021|2020|
||||£000|£000|
||Non-current investment disposal||2,393|60,183|
||Investment income||3,086|3,659|
||Investment expenditure||(977)|(1,422)|
||Payments to acquire non-current assets||(3,532)|(61,620)|
||||970|800|
|22|Cash flows from financing activities||2021|2020|
||||£000|£000|
||Interest paid||(640)|(614)|
||New borrowing||-|4,000|
||Repayments ofamounts borrowed||(359)|(257)|
||Total cash flows from financing activities||(999)|3,129|





## 

|23|Consolidated reconciliation and analysis ofnet debt||||
|---|---|---|---|---|
|||At|||
|||beginning|Cash|At end of|
|||ofyear|Flows|year|
|||£000|£000|£000|
||Cash and cash equivalents|3,371|18|3,389|
||Borrowings:||||
||Amounts falling due within one year: unsecured loans|(360)|-|(360)|
||Borrowings:||||
||Amounts falling due after more than one year: unsecured loans|(15,942)|358|(15,584)|
|||(12,931)|376|(12,555)|
|24|Financial Instruments||2021|2020|
||||£000|£000|
||Financial assets||||
||Financial assets at fairvalue through Statement of Comprehensive|income:|||
||Listed equity investments||116,441|97,760|
||Other investments||43,286|35,970|
||Financial assets that are debt instruments measured at amortised|cost:|||
||Cash and cash equivalents||11,886|11,709|
||Other debtors||414|541|
||Financial liabilities||||
||Financial liabilities measured at amortised cost||||
||Loans||15,944|16,303|
||Trade creditors||355|214|
||Other creditors||900|677|
|25|Capital commitments||2021|2020|
||||£000|£000|
||Capital commitments at 30 June are as follows:||||
||Authorised and contracted||220|1,982|
||Authorised but not yet contracted for||556|295|



## 



||2021|2020|
|---|---|---|
||£000|£000|
|USS|862|856|
|CCFPS|131|145|
|Church of England|10|10|
|Non-contributory scheme|4|7|
|Total|1,007|1,018|



## 



||—|97.6% of SAPS S1NMA “light” for males and 102.7% of RFVOO|
|---|---|---|
|||for females.|
|Future improvements to||CMI_2017 with a smoothing parameter of8.5 and a long|
|mortality||term improvement rate of 1.8% pa for males and 1.6% pa for|
|||females.|



||2021|2020|
|---|---|---|
|Males currently aged 65 (years)|24.6|24.4|
|Females currently aged 65 (years)|26.1|25.9|
|Males currently aged 45 (years)|26.6|26.3|
|Females currently aged 45 (years)|27.9|27.7|



||2021|2020|
|---|---|---|
|Discount rate|0.87%|0.73%|
|Pensionable salary growth|1.50%|1.58%|





||2021|2020|
|---|---|---|
||%p.a.|%p.a.|
|Discount rate|1.80|1.45|
|Increase in salaries|3.10|2.70|
|RPI assumption|3.40|3.10|
|CPI assumption|2.60|2.20|
|Pension increases in payment (RPI Max 5% p.a.)|3.30|3.00|
|Pension increases in payment (CPI Max 2.5%|||
|p.a.)|1.95|1.80|



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



## 

|The amounts recognised in the balance sheet as a<br>June 2020) are as follows:|t 30 June 2021 (with comparative|figures as at 30|
|---|---|---|
||2021|2020|
||£000|£000|
|Present value of plan liabilities|(20,677)|(21,412)|
|Market value of plan assets|15,666|14,659|
|Net defined benefit (liability)|(5,011)|(6,753)|






||2021|2020|
|---|---|---|
||£000|£000|
|Current service cost|222|219|
|Administrative expenses|29|29|
|Interest on net defined benefit liability|99|131|
|(Gain)/loss on plan changes|-|-|
|Total|350|379|



||2021|2020|
|---|---|---|
||£000|£000|
|Present value of plan liabilities at beginning of period|21,412|19,575|
|Current service cost (including employee contributions)|222|219|
|Employee contributions|44|48|
|Benefits paid|(435)|(577)|
|Interest on plan liabilities|309|437|
|Acti,ariI Iocses/(ajns)|(87S|1.711)|
|(Gain)/Ioss on plan changes|-|-|
|Present value of plan liabilities at end of period|20,677|21,412|



||2021|2020|
|---|---|---|
||£000|£000|
|Market value of plan assets at beginning of period|14,659|13,786|
|Contributions paid by the College|302|314|
|Employee contributions|44|48|
|Benefits paid|(435)|(577)|
|Administrative expenses paid|(45)|(44)|
|Interest on plan assets|210|306|
|Return on assets, less interest included in Profit & Loss|931|826|
|Market value of plan assets at end of period|15,666|14,659|
|Actual return on plan assets|1,142|1,132|





||2021|2020|
|---|---|---|
|Equities|48%|49%|
|Bonds & Cash|42%|41%|
|Property|10%|10%|
|Total|100%|100%|




||2021|2020|
|---|---|---|
||£000|£000|
|Return on assets less interest included in statement of income|931|826|
|and expenditure|||
|Expected less actual plan expenses|(16)|(15)|
|Experience gains and losses arising on plan liabilities|623|118|
|Changes in assumptions underlying the present value of plan|||
|liabilities|252|(1,828)|
|Remeasurement of net defined benefit liability recognised in|1,790|(899)|
|OCI|||




||2021|2020|
|---|---|---|
||£000|£000|
|Net defined benefit asset/(liability) at beginning ofyear|(6,753)|(5,789)|
|Recognised in statement of income and expenditure|(350)|(379)|
|Contributions paid by the College|302|314|
|Remeasurement of net defined benefit liability recognised in|||
|CCI|1,790|(899)|
|Net defined benefit asset/(liability) at end ofyear|(5,011)|(6,753)|



## 



## 

||2021|2020|
|---|---|---|
|Discount rate|1.85|1.45|
|Pension increases in payment|0.00|0.0|



## 

|June 2020) are as follows:|||
|---|---|---|
||2021|2020|
||£000|£000|
|Present value of plan liabilities|(287)|(317)|
|Net defined benefit (liability)|(287)|(317)|



|||||||2020|2020|
|---|---|---|---|---|---|---|---|
|||||||£000|£000|
|Interest|on|net|defined|benefit|liability|(4)|(7)|
|Total||||||(4)|(7)|





||2021|2020|
|---|---|---|
||£000|£000|
|Present value of plan liabilities at beginning of period|317|319|
|Current service cost|-|-|
|Interest on plan liabilities|4|7|
|Actuarial losses (gains)|10|34|
|Benefits paid|(44)|(43)|
|Presentvalue of plan liabilities at the end ofthe period|287|317|
|The plan has no assets.|||



||2021|2020|
|---|---|---|
||£000|£000|
|Experience gains and losses arising on plan liabilities|(16)|(18)|
|Changes in assumptions underlying the present value of plan|||
|liabilities|6|(16)|
|Remeasurement of net defined benefit liability recognised in OCI|(10)|(34)|



||2021|2020|
|---|---|---|
||£000|£000|
|net defined benefit (liability) at beginning ofyear|(317)|(319)|
|Contributions paid by the College|43|43|
|Recognised in Profit and Loss|(4)|(7)|
|Remeasurement of net defined benefit liability recognised in|||
|OCI|(10)|(34)|
|Net defined benefit (liability) atthe end ofthe year|(287)|(317)|




## 



## 

|% of pensionablestipends|January2018|January2021|
|---|---|---|
||to December|to December|
||2020|2022|
||%|%|
|Deficit repair contributions|11.9|7.1|





||2020|2019|
|---|---|---|
||£000|£000|
|Balance sheet liability at 1 January|6|19|
|Deficit contribution paid|(3)|(3)|
|Interest cost (recognised in SoFA)|-|-|
|Remaining change to balance sheet liability* (recognised in|1|(10)|
|statement of income and expenditure)|||
|Balance sheet liability at 31 December|4|6|



||December|December|December|
|---|---|---|---|
||2020|2019|2018|
|Discount rate|0.2% pa.|1.1% p.a.|2.1% pa.|
|Price inflation|3.1% pa.|2.8% p.a.|3.1% p.a.|
|Increase to total pensionable payroll|1.6% p.a.|1.3% p.a.|1.6% p.a.|



## 

|||Country of|Cost|Class of|Proportion of|Principal|
|---|---|---|---|---|---|---|
|||Incorporation||Shares|shares held|activity|
|||and Operation|||||
||||£||||
|Caius Property<br>.<br>.<br>.<br>Services Limited||United<br>.<br>Kingdom|1|Ordinary|100%|Dormant|
|Budworth||United|||||
|Development||Kingdom|1|Ordinary|100%|Dormant|
|Limited|||||||
|Caius Conferences||United||||Provision of|
|Limited||Kingdom|1|Ordinary|100%|conference|
|||||||services|





## 

## 

|From|To|2021|Number|2020|Number|
|---|---|---|---|---|---|
|£0|£10,000||11||5|
|£10,001|£20,000||3||3|
|£20,001|£30,000||-||-|
|£30,001|£40,000||1|||
|£40,001|£50,000||-||1|
|£50,001|£60,000||2||4|
|£60,001|£70,000||1||1|
|£70,001|£80,000|||||
|£80,001|£90,000|||||
|£90,001|£100,000||1||1|
||Total||19||15|





## 

##