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2022-06-30-accounts

Reference and Administrative Details 2
Report ofthe College Council 3
Independent auditors’ reportto the Council ofGonville & Caius College, Cambridge 14
Statement of Principal Accounting Policies for the Year Ended 30 June 2022 18
Consolidated Statement ofComprehensive Income and Expenditure for the Year Ended 30 June 2022 25
Consolidated Statement ofChanges in Reserves 26
Consolidated BalanceSheet as at 30June 2022 27
Consolidated Cash Flow Statement as at 30 June 2022 28
Notes to the Accounts 2021/22 29

2021/22 2020/21 %Change
undergraduate 617 618 (0.2%)
Postgraduate 264 252 4.8%
Total 881 870 1.3%

2021/22 2020/21 Change
£000 £000 £000
Income 4,072 3,980 92
Expenditure (9,144) (8,882) (262)
Net Cost (5,072) (4,902) (170)
ation costs are made up as follows:
2021/22 2020/21 Change
£000 £000
Teaching 3,792 3,516 276
Tutorial and student welfare 1,555 1,341 214
Admissions 357 290 67
Research 1,166 1,026 140
Scholarships and awards 1,433 1,991 (558)
Other educational facilities 799 690 109
Other educational expenses 42 28 14
Totals 9,144 8,882 262

2021/22 2020/21 Change
£000 £000 £000
Drawdown permitted under spending rule 5,108 5,305 (197)
Reduction due to unrestricted donations (1,217) (3,413) 2,196
Endowment transfer in the Statement of Comprehensive
Income and Expenditure 3,891 1,892 1,999

30 June 2022 30 June 2021 Change
Number of Fellows 111 108 +3
Number of Staff (FTE5) 148 145 +3

June22 June21 June20 June19 June18
£m £000 £000 £000 £000
Total Return +2.7% 17.3% 1.8% 3.9% 7.7%
Cash 3.6 8.5 8.3 12.4 8,.4
Fixed income - - 0.3 - -
Credit 5.0 5.4 5.3 6.2 2.9
Hedge funds
— absolute return		 11.8 7.3 3.9 12.2 12
Hedgefunds
— hedged equities		 12.7 11.2 12.4 10.6 13.6
Public equity 86.8 93.3 77.6 62.2 60.9
Private equity 31.5 24.4 18.7 21.9 17.6
Private debt 4.7 4.8 4.4 4.7 5.4
Core property 95.7 91.6 84.3 88.7 91.2
Property funds 3.0 2.5 2.4 4.6 5.5
Infrastructure and operating assets 4.9 5.2 4.7 - -
Contractual and other income 2.0 1.6 1.8 - -
Inflation linked bonds and inflation hedges 2.8 3.9 2.5 3.8 3.5
Total Investments 264.5 259.7 226.6 227.3 221
Private Placement (10.0) (10.0) (10.0) (10.0) (10.0)
Net Investments 254.5 249.7 216.6 217.3 211

2021 Total £000 3,980 3,667 4,895 259 12,801 3,805 1,091 148 17,845 8,882 6,330 7,117 206 22,535 (4,690) 38,588 33,898 1,780 35,678
Endowment £000 4,895 (1,892) 3,003 - 1,026 - 4,029 - - 6,008 - 6,008 (1,979) 13,968 11,989 - 11,989
Restricted £000 175 1,892 2,067 100 65 148 2,380 1,856 - 112 - 1,968 412 699 1,111 - 1,111
Unrestricted £000 3,805 3,667 259 7,731 3,705 - - 11,436 7,026 6,330 997 206 14,559 (3,123) 23,921 20,798 1,780 22,578
2022 Total £000 4,072 5,847 7,323 43 17,285 1,549 4,090 273 23,197 9,144 7,480 9,467 197 26,288 (3,091) 5,372 2,281 2,444 4,725
Endowment £000 7,323 (3,891) 3,432 - 4,090 - 7,522 - - 5,851 - 5,851 1,671 3,065 4,736 - 4,736
Restricted £000 140 1,857 1,997 141 - 273 2,411 1,484 - 312 - 1,796 615 51 666 - 666
Unrestricted
Note		 Income
£000		 Academic fees and charges
3,932
1		 Accommodation, catering and conferences
5,847
2		 Investment income
3		 Endowment returntransferred
2,034
3		 Other income
43		 11,856 Total
income
before
donations
and		 endowments Donations
1,408		 New endowments
-		 Othercapital grants for assets
-		 13,264 Total income Expenditure Education
4
7,660		 Accommodation, cateringand conferences
5
7,480		 Other expenditure
6
3,304		 Contribution underStatute G,ll
197		 Total expenditure
18,641		 Surplus/(deficit)
before
other
gains
and
(5,377)		 losses Gain/(loss) on investments
3
2,256		 Surplus/(deficit)forthe year
(3,121)		 Other comprehensive income/(expenditure) Actuarial gain/(loss)
in respect of pension
16
2,444		 schemes Total comprehensive incomeforthe year
(677)		 The notes on pages 29 to 51 form part ofthese accounts.
Total £000 377,604 2,281 2,444 - 382,330 341,927 33,898 1,780 - - 377,604
ConsolidatedStatementofChanges inReserves Year ended 30June 2022 Income and expenditure reserve Unrestricted
Restricted
Endowment		 £000
£000
£000		 Balance at 1 July 2021
285,130
7,846
84,628		 Surplus/(Deficit) from income and expenditurestatement
(3,121)
666
4,736		 Othercomprehensive income/(expenditure)
2,444
-
-		 Transfer between restricted and endowmentfunds Release ofrestricted capital funds spent in the year
23
(23)
-		 Balance at 30June 2022
284,476
8,490
89,364		 Balance at 1July 2020
262,405
4,614
74,908		 Surplus/(Deficit)from income and expenditure statement
20,798
1,111
11,989		 Othercomprehensive income/(expenditure)
1,780
-
-		 Transfer between restricted and endowmentfunds
2,269
(2,269)		 Release of restricted capital funds spent in the year
148
(148)
-		 Balance at 30June 2021
285,130
7,846
84,628		 The notes on pages 29 to 51 form part ofthese accounts.

ConsolidatedBalance Sheetasat 30 J une 2022
2022 2021
£000 £000
Note
Non-current assets
Fixed assets 9 136,527 137,705
Heritage assets 9 120 120
Investment assets 10 264,455 259,830
Total non-current assets 401,102 397,655
Current assets
Stock 11 580 594
Trade and other receivables 12 3,633 3,036
Cash and cash equivalents 13 3,512 3,389
Total current assets 7,725 7,019
Creditors: amounts fallingdue
within one year 14 (4,309) (4,484)
Net Current assets 3,416 2,535
Total Assets less current liabilities 404,518 400,190
Creditors: amounts fallingdue
after more than one year 15 (15,224) (15,584)
Net assets excluding pension liability 389,294 384,606
Net pension liability 16 (6,964) (7,002)
Net assets 382,330 377,604
Restricted reserves
Income and expenditure reserve —endowment reserve 17 89,364 84,628
Income and expenditure reserve — restricted reserve 18 8,490 7,846
Unrestricted reserves
Income and expenditure reserve — unrestricted 284,476 285,130
Total Reserves 382,330 377,604

Note 2022 2021
£000 £000
Net cash (outflow) /inflow from operating activities 20 (453) 47
Cash flows from investing activities 21 1,580 970
Cash flows from financing activities 22 (1,004) (999)
lncrease/(decrease) in cash and cash equivalents in the year 23 123 18
Cash and cash equivalents at beginning ofthe year 3,389 3,371
Cash and cash equivalents at end oftheyear 3,512 3,389

Academicfees and charges
2022 2021
£000 £000
College fees:
Fee income received at the Regulated
Undergraduate rate 2,475 2,520
Fee income received at the
Unregulated Undergraduate rate 590 536
Fee income received at the graduate
rate 777 708
3,842 3,764
Income for Cambridge Bursaries 140 175
Other income 90 41
Total 4,072 3,980
2 Income from
accommodation, catering
and conferences 2022 2021
£000 £000
Accommodation College members 4,384 3,073
Conferences 264 69
Catering College members 911 470
Conferences 288 55
Total 5,847 3,667

3a Analysis
2022 2021
£000 £000
Total return contribution (see note 3b) 3,891 1,892
3b SummaryofTotal Return
2022 2021
Income from: £000 £000
Land and buildings 3,314 3,075
Quoted and other securities and cash 4,009 1,820
Gains on endowment assets:
Land and buildings 5,153 7,435
Quoted and other securities and cash 219 31,152
Investment Management costs (see note 3c) (5,850) (6,008)
Total Return for year 6,845 37,474
Total Return transferred to Income and Expenditure
Account (3,891) (1,892)
Total return expendable amount (3,891) (1,892)
Unapplied Total Return for Year included within
Statement ofComprehensive Income and Expenditure
(see note 19) 2,954 35,582
3c Investment management costs 2022 2021
£000 £000
Land and buildings 1,598 1,582
Other investments 4,252 4,426
Total 5,850 6,008
Education Expenditure 2022 2021
£000 £000
Teaching 3,792 3,516
Tutorial 1,555 1,341
Admissions 357 290
Research 1,166 1,026
Scholarships and awards 1,433 1,991
Other educational facilities 799 690
Othereducational expenses 42 28
Total 9,144 8,882
5 Accommodation, Catering and Conferences Expenditure Accommodation, Catering and Conferences Expenditure 2022 2021
£000 £000
Accommodation: College members 5,435 4,836
Conferences 106 43
Catering: College members 1,671 1,312
Conferences 268 139
Total 7,480 6,330
6 Other Expenditure 2000 2021
£000 £000
Investment management and administration 5,408 5,557
Interest 644 667
Pension scheme losses (gains) and other non-cash pension charges 2,441 151
Othergeneral and administrative 974 742
Total 9,467 7,117

Other
Staffcosts Operating Depreciation
(Note 8) Expenses (Note 9) Total
£000 £000 £000 £000
Education (note 4) 4,346 4,307 491 9,144
Accommodation, catering and conferences (note 5) 3,664 2,189 1,627 7,480
Other (note 6) 478 8,987 2 9,467
Contribution under Statute G,lI 197 197
Total 8,488 15,680 2,120 26,288

Analysis of2020/2021 Expenditure byActivity
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,II - 206 - 206
Total 7,688 12,752 2,095 22,535
s.
2022 2021
Auditors’ remuneration
£000 £000
Other operating expenses include:
Audit fees payable to the College’s external
auditors 32 29
Other fees payable to the College’s external
auditors 2 3
Total 34 32

Staffcosts
Non- Total Total
Academic academic 2022 2021
£000 £000 £000 £000
Salaries 2,092 4,669 6,761 6,114
National insurance 214 399 613 567
Other pension costs 377 737 1,114 1,007
Total 2,683 5,805 8,488 7,688
Average staff numbers 2022 Average staffnumbers 2021 Average staffnumbers 2021
Number of Number of Number of Number of
Fellows Non-Fellows Fellows Non-Fellows
Academic (number receiving a stipend) 76 9 77 10
Non-Academic (full-time equivalents) 4 148 2 145
Total 80 157 79 155

College Assets in Furniture & Total Total
Land Buildings construction Equipment 2022 2021
£000 £000 £000 £000 £000 £000
Cost/Valuation
At beginning ofyear 62,220 88,096 246 367 150,929 147,575
Additions - 554 299 89 942 3,433
Disposals at
cost/valuation - - - (68) (68) (79)
Transfers
At end ofyear 62,220 88,650 545 388 151,803 150,929
Depreciation
At beginning ofyear - 13,053 - 171 13,224 11,208
Charge forthe year - 2,035 - 85 2,120 2,095
Eliminated on disposal - - - (68) (68) (79)
At end ofyear 15,088 - 188 15,276 13,224
Net bookvalue
At end ofyear 62,220 73,562 545 200 136,527 137,705
At beginning ofyear 62,220 75,043 246 196 137,705 136,367

2022 2021 2020 2019 2018
£000 £000 £000 £000 £000
Balance brought forward 120 113 101 97 90
Acquisitions purchased with College
funds 7 12 4 7
Total 120 120 113 101 97
10 Fixed Asset Investments 2022 2021
£000 £000
Balance at beginning ofyear 259,830 226,340
Additions 121,207 36,717
Disposals (118,847) (30,957)
Appreciation 1,238 33,875
lncrease/(decrease) in cash balances held
by fund managers 1,027 (6,145)
Balance at end of year 264,455 259,830
2022 2021
Represented by: £000 £000
Property 95,663 91,607
Quoted securities —equities 60,258 62,759
Fixed interest securities 12,570 14,196
Cash in hand and at investment managers 3,610 8,497
Other investments 92,354 82,771
Total 264,455 259,830
11 Stocks and work in progress 2022 2021
£000 £000
Wine stocks 565 579
Bar, kitchen and other stocks 15 15
Total 580 594
12 Trade and other receivables
2022 2021
£000 £000
Members ofthe College 433 287
Commercial rents 257 453
Donations 2,645 2,083
Other debtors 168 127
Prepayments and accrued income 130 86
Total 3,633 3,036
13 Cash and cash equivalents
2022 2021
£000 £000
Current accounts 3,512 3,389
Total 3,512 3,389
14 Creditors: amountsfalling due within one
year
2022 2021
£000 £000
Trade creditors 2,672 2,682
Bank loan due for repayment within a year 360 360
Members ofthe College 376 616
Universityfees 172 65
Commercial rent deferred income 440 486
Contribution to Colleges Fund 197 206
Other creditors 92 69
Total 4,309 4,484
2022 2021
£000 £000
Bank loans 5,224 5,584
Other loans 10,000 10,000
Total 15,224 15,584

Yearto 30 June 2022
CCFPS USS Other Total
£000 £000 £000 £000
Balance at beginning ofyear 5,011 1,700 291 7,002
Movement in year:
Current service cost including life
assurance 239 - (3) 236
Contributions (314) (92) (40) (446)
Change in expected contributions - 2,505 2,505
Otherfinancecost 91 15 5 111
Actuarial (gain)/loss recognised in
Statement of Comprehensive
Income and Expenditure (2,411) - (33) (2,444)
Balanceat end ofyear 2,616 4,128 220 6,964
Yearto 30June 2021
CCFPS USS Other Total
£000 £000 £000 £000
Balance at beginning ofyear 5,753 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
Actuarial (gain)/loss recognised in
Statement of Comprehensive
Income and Expenditure (1,790) - 11 (1,779)
Balance at end ofyear 5,011 1,700 291 7,002
Restricted Unrestricted Total Total
17 Endowment funds Permanent Permanent 2022 2021
£000 £000 £000 £000
Balance at beginningofyear:
Capital 84,628 - 84,628 74,908
New donations and endowments 4,090 - 4,090 1,026
Increase/ (Decrease) in market
value of investments 646 - 646 10,963
Transferto restricted funds - - (2,269)
Balance at end ofyear 89,364 89,364 84,628
Analysis bytype ofpurpose
Fellowship, Research, Scholarship
and Studentship Funds 67,468 - 67,468 64,976
Prizes Funds 685 685 782
Bursaries, Hardship and Travel
Funds 11,384 - 11,384 9,109
General and Other Trust Funds 9,827 - 9,827 9,761
Balance at end ofyear 89,364 - 89,364 84,628
Analysis byasset
Property 33,479 - 33,479 32,361
Investments 54,690 - 54,690 49,558
Cash 1,195 1,195 2,709
Balance at end ofyear 89,364 - 89,364 84,628
Permanent
Capital Unspent and Restricted
Grants other restricted expendable
18 Restricted Reserves unspent income endowment Total 2022 Total 2021
£000 £000 £000 £000 £000
Balance at beginning of
year:
Capital - 1,924 1,924 774
Accumulated income - 5,922 - 5,922 3,840
Total - 5,922 1,924 7,846 4,614
New grants 23 140 - 163 323
New donations 250 141 - 391 166
Endowment return
transferred 1,817 40 1,857 1,891
Increase in market value 39 12 51 699
Expenditure (1,769) (26) (1,795) (1,968)
Capital grants utilised (23) - - (23) (148)
Transfer from
endowment funds - - - - 2,269
Total 250 6,290 1,950 8,490 7,846
Balance at end ofyear
Capital 250 - 1,950 2,200 1,924
Accumulated income - 6,290 - 6,290 5,922
Total 250 6,290 1,950 8,490 7,846
Analysis of restricted
funds bytype of purpose
Fellowship, Research,
Scholarship and
Studentship Funds - 5,206 958 6,164 5,768
Prizes Funds - 300 - 300 300
Bursaries, Hardship and
Travel Funds - 686 992 1,678 1,656
General and Other Trust
Funds 250 98 - 348 122
Total 250 6,290 1,950 8,490 7,846
19 Memorandum of Unapplied Total Return
Included within reserves, the following amounts represent the
Unapplied Total Return ofthe College: Note 2022 2021
£000 £000
Unapplied Total Return at beginning of year 148,831 113,248
Unapplied Total Return for the year 3b 2,954 35,582
Unapplied Total Return at end ofyear 151,785 148,830
Reconciliation ofconsolidated surplus fortheyearto net cash
20 (outflow)/inflow) from operatingactivities 2022 2021
£000 £000
Surplus for the year 4,726 35,678
Adjustment for non-cash items
Depreciation 2,120 2,094
Gain on endowments, donations and investment property (5,372) (38,588)
Decrease (increase) in stocks 14 35
Decrease/(increase) in trade and other receivables (597) 1,092
Increase/(decrease) in creditors (176) 76
Pension costs less contributions payable (38) (1,669)
Adjustmentfor investingorfinancing activities
Investment income (7,323) (4,895)
Investment expenditure 5,407 5,557
Interest payable 644 667
Profit on the sale of non-current assets 142 -
Net cash (outflow)/inflowfrom operatingactivities (453) 47
21 Cash flows from investing activities 2022 2021
£000 £000
Non-current investment disposal 346 2,393
Investment income 3,509 3,086
Investment expenditure (1,333) (977)
Payments to acquire non-current assets (942) (3,532)
1,580 970
22 Cash flows from financingactivities 2022 2021
£000 £000
Interest paid (644) (640)
Repayments ofamounts borrowed (360) (359)
Total cash flows from financing activities (1,004) (999)

At
beginning Cash At end of
ofyear Flows year
£000 £000 £000
Cash and cash equivalents 3,389 123 3,512
Borrowings:
Amounts falling due within one year: unsecured loans (360) - (360)
Borrowings:
Amounts falling due after more than one year: unsecured loans (15,584) 360 (15,224)
(12,555) 483 (12,072)
24 Financial Instruments 2022 2021
£000 £000
Financial assets
Financial assets at fair value through Statement of Comprehensive income:
Listed equity investments 106,461 116,441
Other investments 44,192 43,286
Financial assets that are debt instruments measured at amortised cost:
Cash and cash equivalents 13,778 11,886
Other debtors 601 414
Financial liabilities
Financial liabilities measured at amortised cost
Loans 15,584 15,944
Trade creditors 478 355
Other creditors 816 900
25 Capital commitments 2022 2021
£000 £000
Capital commitments at 30June are as follows:
Authorised and contracted 130 220
Authorised but not yet contracted for 1,061 556

2022 2021
£000 £000
USS 962 862
CCFPS 137 131
Church of England 10 10
Non-contributory scheme 5 4
Total 1,114 1,007
CPI assumption Term dependent rates in line with the difference
between the Fixed Interest and Index Linked yield
curves less:
1.1% pa. to 2030, reducing linearly by 0.1% p.a. to a
long-term difference of0.1% p.a. from 2040
Pension Increases (subject to a CPI assumption pIus 0.05%
floor of 0%)
Discount rate (forward rates) Fixed interest gilt yield curve plus:
Pre-retirement: 2.75% p.a.
Post retirement: 1.00% p.a.
2020 valuation
Mortality base table 101% ofS2PMA “light” for males and 95% of S3PFA for
females
Future improvements to CMI 2019 with a smoothing parameter of 7.5, an initial
mortality addition of0.5% p.a. and a long-term improvement rate of
1.8% pa for males and 1.6% for females
2022 2021
Males currently aged 65 (years) 23.9 24.7
Females currently aged 65 (years) 25.5 26.1
Males currently aged 45 (years) 25.9 26.7
Females currently aged 45 (years) 27.3 27.9
2021
2022
Discount rate 3.31% 0.87%
Pensionable salary growth 6% in year 1.5%
1, 1.5%
thereafter

2022 2021
% p.a. % p.a.
Discount rate 3.80 1.80
Increase in salaries 3.25 3.10
RPI assumption 3.45 3.40
CPI assumption 2.75 2.60
Pension increases in payment (RPI Max 5% pa.) 3.30 3.30
Pension increases in payment (CPI Max 2.5% pa.) 2.05 1.95
Members are ass
ases:		 umed to retire at their normal retirem ent age (65) apart from the f ollowing indica
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
June 2021) are as follows:		 t 30 June 2022 (with comparative figures as at 30
2022 2021
£000 £000
Present value of plan liabilities (15,832) (20,677)
Market value of plan assets 13,216 15,666
Net defined benefit (liability) (2,616) (5,011)
figures for theyear ended 30June 2021) are as follows:
2022 2021
£000 £000
Current service cost 206 222
Administrative expenses 33 29
Interest on net defined benefit liability 91 99
(Gain)/loss on plan changes -
Total 330 350
2022 2021
£000 £000
Present value of plan liabilities at beginning ofperiod 20,677 21,412
Current service cost (including employee contributions) 206 222
Employee contributions 38 44
Benefits paid (533) (435)
Interest on plan liabilities 370 309
Actuarial losses/(gains) (4,926) (875)
(Gain)/loss on plan changes
Present value ofplan liabilities at end of period 15,832 20,677
2022 2021
£000 £000
Market value of plan assets at beginning of period 15,666 14,659
Contributions paid by the College 314 302
Employee contributions 38 44
Benefits paid (533) (435)
Administrative expenses paid (41) (45)
Interest on plan assets 279 210
Return on assets, less interest included in Profit & Loss (2,507) 931
Market value of plan assets at end of period 13,216 15,666
Actual return on plan assets (2,228) 1,142
2022 2021
Equities 52% 48%
Bonds & Cash 34% 42%
Property 14% 10%
Total 100% 100%
2022 2021
£000 £000
Return on assets less interest included in statement of income (2,507) 931
and expenditure
Expected less actual plan expenses (7) (16)
Experience gains and losses arising on plan liabilities (955) 623
Changes in assumptions underlying the present value of plan 5,880
liabilities 252
Remeasurement of net defined benefit liability recognised in 2,411 1,790
OCl
2022 2021
£000 £000
Net defined benefit asset/(liability) at beginning ofyear (5,011) (6,753)
Recognised in statement of income and expenditure (330) (350)
Contributions paid by the College 314 302
Remeasurement of net defined benefit liability recognised in 2,411
CCI 1,790
Net defined benefit asset/(liability) at end ofyear (2,616) (5,011)

2022 2021
%p.a. %p.a.
Discount rate 3.80 1.85
Pension increases in payment 0.00 0.0

2022 2021
£000 £000
Present value of plan liabilities (219) (287)
Net defined benefit (liability) (219) (287)
2022 2021
£000 £000
Interest on net defined benefit liability (5) (4)
Total (5) (4)
2022 2021
£000 £000
Present value of plan liabilities at beginning of period 287 317
Currentservice cost -
Interest on plan liabilities 5 4
Actuarial losses (gains) (33) 10
Benefits paid (40) (44)
Presentvalue of plan liabilities at the end ofthe period 219 287

2022 2021
£000 £000
Experience gains and losses arising on plan liabilities 8 (16)
Changes in assumptions underlying the present value of plan
liabilities 25 6
Remeasurement of net defined benefit liability recognised in OCI 33 (10)
2022 2021
£000 £000
Net defined (liability) at beginning ofyear (287) (317)
Contributions paid by the College 40 43
Recognised in Profit and Loss (5) (4)
Remeasurement of net defined benefit liability recognised in 33
CCI (10)
Net defined benefit (liability) atthe end oftheyear (219) (287)

% ofpensionable stipends January 2018 January 2021
to December to December
2020 2022
% %
Deficit repair contributions 11.9 7.1
2021 2020
£000 £000
Balancesheet liability at 1January 4 6
Deficit contribution paid (2) (3)
Interest cost (recognised in SOFA) - -
Remaining change to balance sheet liability* (recognised in - 1
statement of income and expenditure)
Balance sheet liability at 31 December 2 4
December December December
2021 2020 2019
Discount rate 0.0% 0.2% pa. 1.1% p.a.
Price inflation n/a 3.1% pa. 2.8% pa.
Increase to total pensionable payroll -1.5% 1.6% pa. 1.3% p.a.

Country of
Incorporation Cost Class of Proportion of Principal
and Operation £ Shares shares held activity
Caius Property
.
Services Limited		 United
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 2022 Number 2021 Number
£0 £10,000 8 11
£10,001 £20,000 3 3
£20,001 £30,000 -
£30,001 £40,000 1
£40,001 £50,000 1 -
£50,001 £60,000 3 2
£60,001 £70,000 1 1
£70,001 £80,000
£80,001 £90,000
£90,001 £100,000 1 1
Total 17 19