## ## ## |Report ofthe Governing
Body|||page 2-11| |---|---|---|---| |Statement
ofAccounting
and Reporting||Responsibilities|page 12| |Governing
Body, Officers and Advisers|||page 13-15| |Auditor's
Report|||page 16-18| |Statement
ofAccounting
Policies|||page 19-24| |Consolidated
Statement
of Financial|Activities||page 25| |Consolidated
and College Balance|Sheets||page 26| |Consolidated
Cashf low Statement|||page 27| |Notes to the Financial Statements|||page 28-44| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Geographic|origin|Undergraduates|Postgraduates| |---|---|---|---| |UK||298|98| |Other EU/EEA||26|50| |Overseas|||| |Total||401|229| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||(1)|(2)|(3)|(4)| |---|---|---|---|---|---| |Sir Gordon
Duff|||||| |Professor J M Yeomans|||||| |Dr A Avramides|||||| |Professor A Cooper-Sarkar|Retired 30/9/19||||| |Professor
I M Moroz|||||| |Miss M Croghan|Retired 30/9/19||||| |Dr KJ Clarke|||||| |Professor P Schleiter|||||| |Professor SJones|||||| |Dr M Kean|||||| |Professor LJ Smith|||||| |Dr R M Armstrong|||||| |Dr H Swift|||||| |Dr H Smith|||||| |Dr G Paul|||||| |Professor G Seregin|Retired 30/9/1 9||||| |Professor D Filatov|||||| |Ms BTravers|||||| |Dr E Payne|||||| |Dr K Hoge|||||| |Dr M Glitsch|||||| |Professor F Macintosh|||||| |Professor R Condry|||||| |Professor STodd|||||| |Dr S McHugh|||||| |Professor A Noble|||||| |Professor D Wakelin|||||| |Professor A Katzourakis|||||| |Dr D Howey|||||| |Dr P Hulley|||||| ## ## ## |Th|e College Officers to|whom day-to-da|y
manage| |---|---|---|---| |Sir|Gordon
Duff|Principal|| |Mr|Frank Gargent|Bursar to 31/12/19|| |Mr|Chris Wood|Bursar from|1/3/20| |Dr|Sarah Norman|Senior Tutor|| |Ms|Bronwyn
Travers|Development|Director| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Unrestricted|Restricted|Endowed|2020|2019| |---|---|---|---|---|---|---|---|---|---| ||||||Funds|Funds|Funds|Total|Total| |||||Notes|E'000|f'000|E'000|F'000|E'000| |INCOME AND ENDOWMENTS|||FROM:||||||| |Charitable
activities:|||||||||| |Teaching,
research|and||residential||4,907|||4,907|5,792| |Other Trading Income|||||104|||104|210| |Donations
and legacies|||||2,722|559||3,289|1,969| |Investments|||||||||| |Investment
income||||4|710|16|1,700|2,426|2,768| |Total return
allocated||to|income|13|583|949|(1,532)||| |Other income||||1|209|||209|| |Total income|||||9,235|1,524|176|10,935|10,743| |EXPENDITURE ON:|||||||||| |Charitable
activities:|||||||||| |Teaching,
research|and||residential|5|6,126|1,611||7,737|9,711| |Generating
funds:|||||||||| |Fundraising|||||437|||437|469| |Trading expenditure|||||74|||74|141| |Investment
management|||costs||54||210|266|275| |Total Expenditure|||||6,691|1,613|210|8,514|10,596| |Net Income/(Expenditure)||before gains|||2,544|(89)|(34)|2,421|147| |Net gains/(losses)
on investments||||10,11|(493)|15|1,945|1,467|2,204| |Net Income/(Expenditure)|||||2,051|(74)|1,911|3,888|2,351| |Net movement
in funds for the year|||||2,051|(74)|1,911|3,888|2,351| |Fund balances
brought
forward||||17|58,452|2,626|54,681|115,759|113,407| |Funds carried forward at||31July|||60,503|2,552|56,592|119,647|115,758| ## ||||2020|2019|2020|2019| |---|---|---|---|---|---|---| ||||Group|Group|College|College| |||Notes|6'000|E'000|6'000|E'000| |FIXEDASSETS||||||| |Tangible assets||9|74,594|61,145|74,594|61,145| |Property
investments
Other Investments||10
11|1,012
62,235|1,012
72,791|1,012
62,237|1,012
72,793| |Total Fixed Assets|||137,841|134,948|137,843|134,950| |CURRENT ASSETS||||||| |Stocks|||38|35|38|35| |Debtors||14|3,128|1,752|2,748|1,214| |Investments|||1,154|3,143|1,154|3,143| |Cash at bank and|in hand||545|1,021|485|559| |Total Current Assets|||4,865|5,951|4,425|4,951| |LIABILITIES||||||| |Creditors: Amounts|falling due within one year|15|1,299|2,744|1,124|1,882| |NET CURRENT ASSETS/(LIABILITIES)|||3,566|3,207|3,301|3,069| |TOTAL ASSETSLESSCURRENT LIABILITIES|||141,407|138,155|141,144|138,019| |CREDITORS: falling due after more than one year||16|20,269|20,414|20,269|20,414| |NET ASSETS/(LIABILITIES) BEFORE PENSION ASSET OR||||||| |LIABILITY|||121,138|117,741|120,875|117,605| |Defined benefit pension scheme liability||21|1,491|1,983|1,491|1,983| |TOTAL NET ASSETS/(LIABILITIES)|||119,647|115,758|119,384|115,622| |FUNDS OF THE COLLEGE||||||| |Endowment
funds||17|56,592|54,681|56,592|54,681| |Restricted funds||17|2,552|2,626|2,552|2,626| |Unrestricted
funds||||||| |General funds|||3,803|9,800|3,540|9,664| |Designated
funds||17|58,191|50,635|58,191|50,635| |Pension reserve||17|(1,491)|(1,983)|(1,491)|(1,983)| ||||119,647|115,758|119,384|115,622| ## |||||||2020|2019| |---|---|---|---|---|---|---|---| ||||||Notes|E'000|E'000| |Net cash provided
by (used|in) operating||activities||23|(2,379)|(313)| |Cash flows from investing|activities||||||| |Dividends,
interest and rents from investments||||||2,426|2,768| |Proceeds from the sale ofproperty,||plant and equipment|||||| |Purchase
of property,
plant and equipment||||||(14,393)|(6,222)| |Proceeds from sale of investments||||||12,023|4,688| |Purchase ofinvestments|||||||| |Net cash provided
by (used|in) investing||activities|||56|1,234| |Cash flows from financing|activities||||||| |Repayments
ofborrowing||||||(150)|(150)| |Cash inflows from new borrowing|||||||| |Receipt ofendowment||||||8|| |Net cash provided
by (used|in) financing||activities|||(142)|(145)| |Change
in cash and cash equivalents||in|the reporting|period||(2,465)|776| |Cash and cash equivalents|at the beginning
ofthe||||||| |reporting
period||||||4,164|3,388| |Change
in cash and cash equivalents||due to exchange|||||| |rate movements|||||||| |Cash and cash equivalents|at the end of||the reporting||||| |period|||||24|1,699|4,164| ## |||||||||||||2020|2019| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Teaching, Research and Residential||||||||||||E'000|E'000| |Unrestricted
funds|||||||||||||| |Tuition fees - UK|and EU students|||||||||||1,558|1,564| |Tuition fees - Overseas students||||||||||||1,274|1,129| |Other HEFCE support||||||||||||227|242| |Other academic income||||||||||||74|73| |Residential
income||||||||||||1,774|2,784| |Total Teaching, Research||and|Residential|||||||||4,907|5,792| |Other charitable
income|||||||||||||| |Total income from|charitable||activities|||||||||4,907|5,796| |OTHER INCOME||||||||||||209|| |The above analysis|includes|E3,059k||received|from Oxford University|||from publicly accountable||funds under the CFF Scheme (2019:E2,935k).|||| |Under the terms ofthe undergraduate||||student|support package offered by Oxford University||||to|students|from lower income households,|the college share ofthe|| |fees waived amounted
to EOk (2019:E98k). These are||||||not included|in|the fee income reporled||above.|||| |Other income includes E205k received||||from the furlough||grant|||||||| |DONATIONS
AND LEGACIES|||||||||||||| |||||||||||||2020|2019| |||||||||||||E'000|E'000| |Donations
and Legacies|||||||||||||| |Unrestricted
funds||||||||||||2,722|1,151| |Restricted funds||||||||||||559|813| |Endowed
funds||||||||||||8|5| |||||||||||||3,289|1,969| |INCOME FROM OTHER TRADING ACTIVITIES|||||||||||||| |||||||||||||2020|2019| |||||||||||||E'000|E'000| |Subsidiary
company|trading|income||||||||||&6|190| |Other trading
income||||||||||||18|20| |INVESTMENT INCOME|||||||||||||| |||||||||||||2020|2019| |||||||||||||E'000|E'000| |Unrestricted
funds|||||||||||||| |Commercial
rent||||||||||||73|73| |Income from fixed|interest stocks|||||||||||620|1,000| |Bank interest||||||||||||17|26| |||||||||||||Tvl|l1IRI| |Restricted funds|||||||||||||| |Equity dividends||||||||||||16|17| |Endowed funds|||||||||||||| |Equity dividends||||||||||||1,700|1,652| |income from fixed|interest|stocks|||||||||||| |interest on fixed term deposits|||and|cash|||||||||| |Other investment|income||||||||||||| |5|ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE|||||| |---|---|---|---|---|---|---|---| ||||||2020||2019| ||||||6'000||6'000| ||Charitable
expenditure||||||| ||Direct staff costs allocated|to:|||||| ||Teaching, research
and|residential|||4,425||4,216| ||Other direct costs allocated|to:|||||| ||Teaching, research
and|residential|||1,872||2,191| ||Support and governance
costs allocated to:||||||| ||Teaching, research
and|residential|||1,440||3,304| ||Total charitable
expenditure||||7,737||9,711| ||Expenditure
on raising funds||||||| ||Direct staff costs allocated to:||||||| ||Fundraising||||325||321| ||Trading
expenditure||||23||45| ||Other direct costs allocated|to:|||||| ||Fundraising||||59||103| ||Trading
expenditure||||41||74| ||Investment
management|costs|||266||275| ||Support and governance
costs allocated to:||||||| ||Fundraising||||53||46| ||Trading
expenditure||||10||21| ||Total expenditure
on raising|funds|||777||885| ||Total expenditure||||||| ||The 2019resources expended|of810,596k repesented|69,850k from unrestricted|funds, 6551k from restricted|funds and 6195kfrom endowed|funds,|| ## |GRANTS AND AWARDS|||2020|2019| |---|---|---|---|---| ||||6'000|8'000| |During the year the College funded research awards and||||| |bursaries
to students
from|its restricted|and||| |unrestricted
fund as follows:||||| |Unrestricted
funds||||| |Grants to individuals:||||| |Scholarships,
prizes and grants|||19|15| |Bursaries and hardship|awards||104|122| |Total unrestricted||||| |Restricted funds||||| |Grants to individuals:||||| |Scholarships,
prizes and grants|||171|186| |Bursadies and hardship|awards||18|35| |Total restdicted||||| |Total grants and awards||||| ## |8|STAFF COSTS|||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||||2020||2019| ||The aggregate
staff|costs for the year||||||were as follows.||||||||F'000||6'000| ||Salaries and wages|||||||||||||||4,300||4,226| ||Social security costs|||||||||||||||310||306| ||Pension costs:|||||||||||||||||| ||Defined benefit schemes|||||||||||||||190||1,706| ||Defined contribution|schemes||||||||||||||1||1| ||The average
number|of|employees|||of||the College,|excluding Trustees,|||||||||| ||on a full time equivalent||basis was|||as|follows.|||||||||2020||2019| ||Tuition and research|||||||||||||||21||20| ||College residential|||||||||||||||66||64| ||Fundraising|||||||||||||||5||6| ||Support|||||||||||||||20||24| ||Total|||||||||||||||||| ||The average
number|ofemployed||||College Trustees||||during|the year|was as|follows.|||||| ||University
Lecturers|||||||||||||||17||14| ||CUF Lecturers|||||||||||||||12||10| ||Other teaching
and research|||||||||||||||3||6| ||Other|||||||||||||||5||5| ||Total|||||||||||||||||| ||The following
information|||relates to the employees|||||ofthe College excluding||||the College Trustees. Details of the remuneration||and reimbursed||expenses ofthe|| ||College Trustees
is included||||as a separate note in||||these financial statements.|||||||||| ||The number of employees||||(exduding|||the College|Trustees)||during|the year|whose gross pay and benefits (excluding|employer||Nl and pension|contributions)|fell| ||within the following
bands|||was:||||||||||||||| ||660,001-570,000|||||||||||||||||| ||The number of the above|||employees|||viith retirement|||benefits accruing was|||as follows:|||||| ||In defined benefits schemes|||||||||||||||||| ## |9|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS||||| |---|---|---|---|---|---|---| ||Group &College||Freehold|Assets|Fixtures,|| ||||land and|Under|fittings and|| ||||buildings|Construction|equipment|Total| ||||E'000|E'000|E'000|E'000| ||Cost|||||| ||At start ofyear||56,902|7,619|2,034|66,555| ||Additions||1,000|13,324|69|14,393| ||At end ofyear||57,902|20,943|2,103|80,948| ||Depreciation
and impairment|||||| ||At start ofyear||4,024||1,386|5,410| ||Depreciation
charge for the year||792||152|944| ||At end ofyear||4,816||1,535|5 355| ||Net book value|||||| ||At end ofyear||53,086|20,943|565|74,594| ||At start ofyear||52,$78|7,619||61,145| ||During the year borrowing|costs totalling E390k(2019:E171k}were capitalised as part ofthe construction||ofthe student
facilities|on the main College site|| |PROPERTY INVESTMENTS|PROPERTY INVESTMENTS|||| |---|---|---|---|---| |Group &|College||2020|2019| |||Commercial|Total|Total| |||E'000|E'000|E,'000| |Valuation|at start ofyear|1,012|1,012|1,012| |Valuation|at end ofyear|||| ## |11|OTHER INVESTMENTS|OTHER INVESTMENTS|||||||| |---|---|---|---|---|---|---|---|---|---| ||All investments
are held||at fair value.||||||| |||||||||2020|2019| |||||||||E'000|E'000| ||Group investments||||||||| ||Valuation
at start of|year||||||72,791|75,275| ||New money invested||||||||| ||Amounts
withdrawn|||||||(14,093)|(7,080)| ||Reinvested
income|||||||2,334|2,667| ||Investment
management||fees|||||(266)|(275)| ||(Decrease)fincrease|in value ofinvestments||||||1,469|2,204| ||Group investments|at end ofyear||||||62,235|72,791| ||Investment
in subsidiaries||||||||| ||College investments|at|end ofyear||||||| ||Group investments|comprise:||Held outside|Held in|2020|Held outside|Held in|2019| |||||the UK|the UK|Total|the UK|the UK|Total| |||||E'000|E,'000|E'000|F'000|F'000|E'000| ||Equity investments|||8,137|28,638|36,775|26,601|10,437|37,038| ||Propertyfunds||||1,022|1,022||4,033|4,033| ||Fixed interest stocks||||15,015|15,015||16,727|16,727| ||Alternative
and other|investments|||5,375|5,375||1,995|1,995| ||Fixed term deposits|and|cash||4,048|4,048||12,998|12,998| ||Total group investments||||||||| ## |The resulis and their assets and liabilities ofthe|parent and subsidiaries
at the year end were|as follows.|as follows.||| |---|---|---|---|---|---| ||Parent College|St Hilda's College||StHildas College|| |||(Trading)|Ltd|Developments|Ltd| ||E'000|E'000|||E'000| |Income|10,935||104|12,587|| |Expenditure|(8,514)||(75)|(12,354)|| |Result for the year|||||| |Total assets|142,268||62||424| |Total liabilities|(22,884)||(33)||(191)| |Net funds at the end ofyear|||||| ## ## |The Trustees have adopted a|duly authorised|duly authorised|duly authorised|duly authorised|duly authorised|policy|oftotal return|oftotal return|accounting|accounting|for the College|investment|returns|with|effect from August|effect from August|effect from August|2000.The investment|2000.The investment| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |return to be applied as income|is||calculated|||as 3.5%(2015:3.5%)|||ofthe average of the year-end
values||||ofthe|relevant
investments|||in each ofthe last||5years, The| |preserved
(frozen) value ofthe||invested|||endowment||capital represents|||its open market value||in August|2009together||with all|subsequent||endowments|valued at| |date ofgifi.|||||||||||||||||||| ||||||||||||Permanent|Endowment||||Expendable|||Total| ||||||||||||Unapplied|||||Endowment|||Endowments| |||||||||||Trust for||Total|||||||| |||||||||||Investment||Return|||Total||||| ||||||||||||E'000|E.'000|||6'000|||F'000|6'000| |At the beginning
ofthe year:|||||||||||||||||||| |Gilt component
ofthe permanent|||endowment|||||||14,585||||14,5&5|||||14,585| |Unapplied
total return||||||||||||12,132||12.132|||||12,132| |Expendable
endowment|||||||||||||||||27,964||27,964| |Total Endowments||||||||||14,585||12,132||26,717|||27,964||54,681| |Movements
in the reporting|period:||||||||||||||||||| |Gift ofendowmentfunds|||||||||||||||1|||7|8| |Investment
return: total investment|||income|||||||||856|||858|||844|1,700| |Investment
return: realised and||unrealised|||gains and||losses|||||979|||979|||966|1,945| |Less: Investment
management||costs||||||||||(106)|||(106)|||(104)|(210)| |Other transfers|||||||||||||||||||| |Total||||||||||||1,729||1,730|||1,713||3,443| |Unapplied
total return allocated||to|income||in|the reporting||period||||(785)|||(785)|||(747)|(1,532)| |Expendable
endowments
transfened||||to income|||||||||||||||| |||||||||||||(785)|||(785)|||(747)|(1,532)| |Net movements
in reporting|period|||||||||||944|||945|||966|1,911| |At end ofthe reporting
period:|||||||||||||||||||| |Gifl component
ofthe permanent|||endowment|||||||14,586||||14,586|||||14,586| |Unapplied
total return|||||||||||13,076|||13,076|||||13,076| |Expendable
endowment
Total Endowments|||||||||||||||||28,930||28,930| |Details ofprior year movements||are shownin||||note 28c|||||||||||||| ## |DEBTORS||||| |---|---|---|---|---| ||2020|2019|2020|2019| ||Group|Group|College|College| ||E'000|E'000|E'000|E'000| |Amounts
falling due within one year:||||| |Trade debtors|46|857|26|81| |Amounts
owed by College members||||| |Amounts
owed by Group undertakings|||46|411| |Loans repayable
within one year|17|14|17|14| |Taxation and social security|406|156||| |Prepayments
and accmed income|2,637|708|2,637|691| |Other debtors|22|17|22|17| |CREDITORS: falling due within one year||||| ||2020|2019|2020|2019| ||Group|Group|College|College| ||E'000|E'000|E'000|E'000| |Bank loans|150|150|150|150| |Trade creditors|380|1,825|373|121| |Amounts
owed to Group undertakings||||766| |Taxation and social security||||95| |College contribution||||| |Accruals and deferred income|400|366|236|361| |Other creditors|369|403|363|389| |CREDITORS: falling due after more than one year||||| ||2020|2019|2020|2019| ||Group|Group|College|College| ||E'000|E'000|E'000|E'000| |Bank loans|450|600|450|600| |Bond*|19,819|19,814|19,819|19,814| |17|ANALYSIS OF MOVEMENTS|ANALYSIS OF MOVEMENTS|ON FUNDS|ON FUNDS||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||At|1 August|Incoming|Resources||Gains/|At 31July| ||||||2019|resources|expended|Transfers|(losses)|2020| ||||||6'000|2'000|E000|6'000|6'000|6'000| ||Endowment
Funds|- Permanent||||||||| ||Student Support Funds||||1,137|32||13|37|1,189| ||JRF Funds||||1,547|40||7|46|1,621| ||Teaching Funds:|||||||||| ||Humanities
&Social|Sciences|||6,724|223|27|215|254|6,959| ||Medical Sciences||||1,693|55|7|54|63|1,750| ||Physical & Life Sciences||||2,608|85|10|83|97|2,697| ||General purpose||||12,891|419|52|412|479|13,325| ||Other purposes||||117|3|||3|123| ||Endowment
Funds|- Expendable||||||||| ||Student Support Funds||||4,742|148|18|111|169|4,930| ||JRF Funds||||2,144|57|7|21|65|2,238| ||Teaching Funds:|||||||||| ||Humanities
&Social|Sciences|||3,938|123|15|126|141|4,061| ||Medical Sciences||||1,073|35||30|40|1,114| ||Physical & Life Sciences||||1,397|45|5|45|52|1,444| ||Other purposes||||1,357|38||15|44|1,419| ||Endowment
Funds -|Expendable||Designated||||||| ||Student Support Funds||||660|29||25|25|686| ||JRF Funds||||1,053|29||16|33|1,095| ||Teaching
Funds:|||||||||| ||Humanities
&Social|Sciences|||3,380|112|14|98|128|3,508| ||Medical Sciences||||2,717|88|11|87|101|2,808| ||General purpose||||5,320|142|18|171|162|5,435| ||Other purposes
Total Endowment
Funds - College
Total Endowment
Funds - Group||||183
54,681
54,681|5
1 708
1,708|1
210
210|3
~1,532
~1,532|6
1,945
1,945|190
56,592
56,592| ||Restricted Funds|||||||||| ||Transfer from endowment
funds for spending||||||949|949||| ||Student supportfunds||||49|1|3|||49| ||Scholarship
&Bursary Fund||||968|57|110|||918| ||Access||||59|12||||71| ||College Contribution|fund|||78|223|222|||79| ||Fellowship
funds||||616|15|23||13|621| ||Library fund||||63|7|1|||69| ||Other funds||||617|259|130|||745| ||125Fund||||175||175|||| ||Total Restricted
Funds - College||||2,626|574|1,613|949|15|2,552| ||Total Restricted Funds - Group||||2,626|574|1,613|949|15|2,552| ||Unrestricted
Funds|||||||||| ||General funds||||2,604|9,296|6,621|1,436|(493)|3,350| ||125Fund||||7,060|625||7,495||190| ||Designated||||50,635||792|(8,348)||58,191| ||Pension reserve||||(1,983)||(492)|||(1,491)| ||Total Unrestricted
Funds - College||||58,316|9,921|6,921|583|493|60,240| ||Unrestricted
funds held by subsidiaries||||136|263|136|||263| ||Total Unrestricted
Funds - Group||||58,452|10,184|7„057||(493)|60,503| ||Total Funds College|||115,622||12,203|8,744||1,467|119,384| ||Total Funds Group|||115,758||10,935|8,514||1,467|119,647| ||Prior year funds movements||are shown in note 28(dJ|||||||| ## |FUNDS OF|THE COLLEG|E DETAILS|E DETAILS|| |---|---|---|---|---| |The following|is a summary|of the origins and purposes ofeach ofthe Funds||| |Endowment|Funds - Permanent:||*A consolidation
ofgifts and donations
where income, but not capital, can be|| ||||used for the general purposes
of the charity|| |Endowment|Funds - Expendable:||*A consolidation
of gifts and donations
where either income,|or income and capital,| ||||can be used for the general purposes ofthe charity|| |Restricted Funds:||||| ||||*A consolidation
of gifts and donations
where both income and capital can be|| ||||used for restricted
purpose|| |Designated|Funds|||| |Fixed asset|designated||Unrestricted
Funds which are represented
by the fixed assets ofthe College,|| ||||less external
borrowing
to fund their acquistion
and therefore|not available| ||||for expenditure
on the College's general purposes|| |125Fund|||'This is a fund used for projects relating
to the 125th anniversary
of the College|| ## |ANALYSIS OF NET ASSETS BETWEEN FUNDS||||| |---|---|---|---|---| ||Unrestricted|Restricted|Endowment|2020| ||Funds|Funds|Funds|Total| ||F'000|6'000|6'000|6'000| |Tangible fixed assets|74,594|||74,594| |Property investments|1,012|||1,012| |Other investments|6,636||55,599|62,235| |Net current assets|21|2,552|993|3,566| |Long term liabilities|(21,760)|||(21,760)| ||Unrestricted|Restricted|Endowment|2019| ||Funds|Funds|Funds|Total| ||6'000|6'000|6'000|6'000| |Tangible fixed assets|61,145|||61,145| |Property investments|1,012|||1,012| |Other investments|18,976||53,815|72,791| |Net current assets|(284)|2,626|866|3,207| |Long term liabilities|(22,397)|||(22,397)| ||~lx52|||| ## ## |Sensitivity ofactuarial
valuation|Sensitivity ofactuarial
valuation|assumptions|assumptions|assumptions|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Surpluses
or deficits which arise at future||||valuations|may impact on the College's future contribution
commitment.|||||The sensitivities|regarding||the principal| |assumptions
used to measure|the|scheme liabilities|||are|set out below:|||||||| |Assumption||||USS|Change
in assumption||Impact on||USS liabilities||||| |Initial discount rate||||increase||by 0.1'k|decrease||by E1.2bn||||| |Asset values||||reduce by 10%|||increase|by E6.4bn|||||| |RPI inflation||||increase by 0.1%|||decrease||by E0.7bn||||| |||||more|prudent
assumption||||||||| |Rate ofmortality||||(mortality||rated down by a furiher|increase|by E1.6bn|||||| |||||year)|||||||||| |Assumption||||OSPS||Change
in assumption|Impact on||OSPS technical|provisions|||| |Valuation
rate of interest|||||deuease
by 0.25%|||increase
by E45m|||||| |RPI|||||increase
by 0.25'k|||increase by E40m|||||| |Deficit Recovery Plans|||||||||||||| |In line with FRS 102paragraph|28.11A,||the Coliege||has recognised a liability for the contributions||||payable forthe|agreed deficit funding||plan.|The principle| |assumptions
used in these calculations|||are tabled be!oar,||||||||||| |||||||OSPS|||USS||||| |Finish Date for Deficit Recovery|Plan|||||30/01/2028|||31/03/2028||||| |Average staff number increase||||||0-0.5%|||0-0.5%||||| |Average staff salary increase||||||2.00%|||2.00%||||| |Average discount rate over period||||||0.74%|||0 63'k||||| |Effect of0.5%change
in discount rate||||||9I(|||25k||||| |Effect of 1%change
in staff growth||||||37I&|||52k||||| ## ## |The College is able to take advantage|of the|of the|tax exemptions|available|available|to charities from taxation|to charities from taxation|in respect ofincome and capital gains|received|to the extent|that| |---|---|---|---|---|---|---|---|---|---|---|---| |such income and gains are applied
to|exclusively
charitable|||purposes.||No|liabiliiy to corporation|tax arises in the College's subsidiary|company|because the|| |directors ofthe company have indicated||that|they intend to make||donations||each year to the College equal to the taxable profits ofthe company|||under the Gift Aid|| |scheme. Accordingly
no provision for|taxation has been induded||||in the|financial statements.|||||| |RECONCILIATION
OF NET INCOMING||RESOURCES TO|||||||||| |NET CASH FLOW FROM OPERATIONS|||||||||2020||2019| ||||||||||Group||Group| ||||||||||5'000||F'000| |Net income/(expenditure)|||||||||3,888||2,351| |Elimination
ofnon-operating
cash flows:|||||||||||| |Investment
income|||||||||(2,426)||(2,768)| |(Gains)/losses
in investments|||||||||(1,467)||(2,204)| |Endowment
donations
Depreciation|||||||||(8)
950||(5)
973| |(Surplus)/loss
on sale offixed assets|||||||||||27| |Decrease/(Increase)
in stock
Decrease/(Increase)
in debtors|||||||||(3)
(1,376)||1
(385)| |(Decrease)/increase
in creditors
(Decrease)/Increase
in provisions|||||||||(1,445)||579| |(Decrease)/Increase
in pension scheme||liability|||||||(492)||1,118| |Net cash provided
by {used in) operating|||activities||||||||| |ANALYSIS OF CASH AND CASH EQUIVALENTS|||||||||||| ||||||||||2020||2019| ||||||||||5'000||B000| |Cash at bank and in hand|||||||||545||1,021| |Notice deposits (less than 3 months)|||||||||1,154||3,143| |Total cash and cash equivalents|||||||||||| ## |28|ADDITIONAL PRIOR YEAR COMPARATIVES|ADDITIONAL PRIOR YEAR COMPARATIVES|ADDITIONAL PRIOR YEAR COMPARATIVES||||| |---|---|---|---|---|---|---|---| |a)|Consolidated
Statement||of Financial Activities||||| ||Forthe year ended 31|July 2019|||||| |||||Unrestricted|Raslrided|Endowed|2,019| ||INCOME AND ENDOWMENTS FROM:|||Funds|Funds|Funds|Total| |||||E000|r'000|E000|E'000| ||Chantable
activities;||||||| ||Teaching, research
and|residential||5,792|0||5,792| ||Public worship|||0|0||0| ||Heritage||||0||0| ||Other Trading Income|||210|0||210| ||Donations
and legacies|||1,151|813||1,969| ||Investments||||||| ||Investment
income|||1,099|17|1,652|2,768| ||Total return
allocated
to|income||1,598|0|-1,598|0| ||Other income|||4|0|0|4| ||Total income|||9,854|830|59|10,743| ||EXPENDITURE ON:||||||| ||Charitable
activities:||||||| ||Teaching, research and|residential||9,162|549||9,711| ||Public worship|||0|0||0| ||Heritage|||0|0||0| ||Generating
funds.||||||| ||Fundraising|||469|0|0|469| ||Trading expenditure|||141|0|0|141| ||Investment
management||costs|78|2|195|275| ||Total Expenditure|||9,850|551|195|10,596| ||Net Income/(Expenditure)||before gains||279|-136|147| ||Net gains/(losses}
on investments|||-509|21|2,692|2,204| ||Net Income/(Expenditure)|||-sos|300|2,556|2,351| ||Actuarial gains/(losses)|on defined benefit pension schemes|||||| ||Nat movement
in funds||for the year|-505|300|2,556|2,351| ||Fund balances brought||forward|58,957|2,325|52,125|113,407| ||Funds carried forward|at 31July||58,452|2625|S4,681|115,758| ## |The Trustees
have adopted a duly authorised|The Trustees
have adopted a duly authorised|The Trustees
have adopted a duly authorised|The Trustees
have adopted a duly authorised|policy|oftotal return|oftotal return|accounting|accounting|for the College|investment|returns|with effect from August 2000. The investment|with effect from August 2000. The investment|with effect from August 2000. The investment|with effect from August 2000. The investment| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |return to be applied as income is||calculated||as 3.5%|(2015:3.5%)||ofthe average ofthe year-end values||||ofthe|relevant
investments||in each ofthe last|5years. The| |preserved
(frozen) value ofthe|invested||endowment||capital represents|||its open market value||in August|2009together
with all subsequent
endowments||||valued at| |date of giR.|||||||||||||||| ||||||||||Permanent|Endowment|||Expendable||Total| ||||||||||Unapplied||||Endowment||Endowments| |||||||||Trust for||Total|||||| |||||||||Investment||Return||Total|||| ||||||||||6'000|6'000||6'000||6'000|6'000| |At the beginning
ofthe year:|||||||||||||||| |GIR component
ofthe permanent||endowment||||||14,584||||14,584|||14,584| |Unapplied
total return||||||||||10,851||10,851|||10,851| |Expendable
endowment||||||||||||||26,690|26,690| |Total Endowments||||||||14,584||10,651||25,435||26,690|52,125| |Movements
in the reporting
period:|||||||||||||||| |Gift ofendowment
funds
Investment
return: total investment
income
Investment
return: realised and unrealised
gains and
Less: Investment
management
costs|||||losses||||1
1
4
5
834
834
818
1,652
1,355
1,355
1,337
2,692
~97~97~99~199||||||| |Total||||||||||2,092||2,093||2,061|4,154| |Unapplied
total return allocated|to|income|in|the reporting||period||||(811)||(811)||(767)|(1,598)| |Net movements
in reporting
psdiod|||||||||1|1,281||1,282||1,274|2,556| |At end ofthe reporting
period:|||||||||||||||| |Gifi component
ofthe permanent||endowment||||||14,565||||14,585|||14,585| |Unapplied
total return||||||||||12,132||12,132|||12,132| |Expendable
endowment
Total Endowments|||||||||%132|||||27,964|27,964| ## |ANALYSIS OF MOVEMENTS ON FUNDS|ANALYSIS OF MOVEMENTS ON FUNDS||||||| |---|---|---|---|---|---|---|---| |||At 1 August
2018
6000|Incoming
resources
F'000|Resources
expended
6'000|Transfers
E'000|Gains/
(losses)
6'000|At 31July
2019
6'000| |Endowment
Funds - Permanent|||||||| |Student Support
Funds
JRF Funds||1,084
1,504|31
39||25
55|51
64|1,137
1,547| |Teaching Funds:|||||||| |Humanities
&Social Sciences
Medical Sciences
Physical
& Life Sciences||6,384
1,609
2,480|218
54
83|26
6
10|204
51
79|352
87
134|6,724
1,693
2,608| |General purpose||12,262|408|49|392|662|12,891| |Other purposes||113|3||4|5|117| |Endowment
Funds - Expendable|||||||| |Student Support Funds
JRF Funds
Teaching Funds:||4,484
2,051|144
55|17
6|104
46|235
90|4,742
2,144| |Humanities
&Social Sciences
Medical Sciences
Physical
& Life Sciences||3,757
1,021
1,329|120
34
44|14
4
5|120
33
43|195
55
72|3,938
1,073
1,397| |Other purposes||1,274|37||10|60|1,357| |Endowment
Funds - Expendable|Designated||||||| |Student
Support Funds||621|25||18|34|660| |JRF Funds
Teaching Funds:||1,043|28||61|46|1,053| |Humanities
&Social Sciences
Medical Sciences||3,209
2,583|109
86|13
10|103
82|178
140|3,380
2,717| |General purpose
Other purposes
Total Endowment
Funds - College
Total Endowment
Funds - Group||5,143
174
52,125
52,125|134
5
1,657
1,657|16
1
195
195|165
3
~7.598
~1.
598|224
8
2,692
2,692|5,320
183
54,681
54,681| |Restricted
Funds|||||||| |Transfer from endowment
funds for spending|||(1,598)||1,598||| |Student support
funds||40|8|1|||49| |Scholarship
&Bursary Fund||949|125|106|||968| |Access||72|6|19|||59| |College Contribution
fund||35|330|287|||78| |Fellowship
funds||598|23|24||19|616| |Maintenance
fund|||||||| |Library fund||64|3|4|||63| |Other funds||567|160|110|||617| |125 Fund
Total Restricted
Funds - College||2 325|175
~766|551|1,598|21|175
2,626| |Total Restricted
Funds - Group||2,325|~768|551|1,598|21|2,626| |Unrestricted
Funds|||||||| |General funds
125Fund||1,138
3,664|8,671
1,047|7,943|(1,247)
(2,349)|(509)|2,604
7,060| |Designated||55,020||789|3,596||50,635| |Pension reserve||(865)||1,118|||(1,983)| |Total Unrestricted
Funds - College||58,957|9,718|9,850||509|58,316| |Unrestricted
funds held by subsidiadies|||136||||136| |Total Unrestricted
Funds - Group||58,957|9,854|9,850||(509)|58,452| |Total Funds College||113,407|10,607|10,596||2,204|115,622| |Total Funds Group||113,407|10,743|10,596||2,204|115,758|