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2022-07-31-accounts

Table of Contents Table of Contents Table of Contents
REPORT OF THE GOVERNING BODY
INTRODUCTION
OBJECTIVESAND ACTIVITIES
Charitable
Objects and Aims
Activities and objectives of the College
ACHIEVEMENTS AND PERFORMANCE
FUTURE PLANS
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing
documents
Governing
Body
Recruitment
and training
of Members of		 the Governing
Body
Remuneration
ofMembers ofthe Governing		 Body and Senior College Staff
Organisational
management
Group structure
and relationships
Risk management 10
FINANCIAL REVIEW 10
Reserves policy
Investment
policy, objectives and		 performance 12
Fundraising 12
Statement ofthe Governing
Body's responsibilities		 12
SUMMARY OF FELLOWS' ACTIVITIES IN THE YEAR TO 31JULY 2022 13
Senior Research Fellows 13
University
Academic Fellows		 16
Examination
Fellows		 19
Post-Doctoral Fellows 21
Other Fellows 24
Honorary
and Emeritus Fellows		 25
Visiting Fellows 29
REFERENCE AND ADMINISTRATIVE INFORMATION 32
MEMBERS OF THE GOVERNING BODY 32
COLLEGE ADVISERS 35
INDEPENDENT
AUDITOR'S REPORT TO THE MEMBERS OF THE GOVERNING		 36
BODYOF ALL SOULS COLLEGE
PRINCIPAL ACCOUNTING
POLICIES		 41
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 49
CONSOLIDATED AND COLLEGE BALANCE SHEETS 50
CONSOLIDATED STATEMENT OF CASH FLOWS 51
NOTES TO THE FINANCIAL STATEMENTS 52

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Jolm Vickers Warden 5/5
Noel Malcolm C arne rarius 5/5
David Renton Estates Bursar 5/5
Thomas Seaman Estates Bursar. Retired 30Sep. 21 0/0
Rima Dapous Domestic Bursar 5/5
Catherine
Mor an		 Academic Secretar 5/5
John Drear Cha
lain		 5/5
Cecilia He es Senior Dean 5/5
Lucia Zedner Dean ofVFs 4/5
David Pannick 5/5
William Walde rave 4/5
Cecilia Trifo
li		 5/5
Pere
rine Horden		 Fellow Librarian 4/5
Andrew
Wilson		 Sub-Warden 3/4
Ian Loader 4/5
Colin Burrow 5/5
Jolua Redwood 5/5
Launcelot Henderson 5/5
David Gellner 4/5
An ela McLean 5/5
Katherine
Rundell		 5/5
Suzanne
Ai rain		 2/5
Mark Armstron Financial Delegate 21-22.Resigned 31Jul. 22 5/5
Alexandra
Mullen		 5/5
Frederick Wilmot-Smith Intermitted IAu .—31Dec.21 3/3
Geor eWoudhu sen 5/5
Neil Kenn Sabbatical for the
ear 21-22		 0/0
Clare Bucknell 4/5
Susanne Bobzien 3/5
Catherine
Red well		 Resigned 30Sep. 22 4/5
Beata Javorcik Intermitted 1Se .19 - 31Au .22 0/0
Paul Fendle Dean ofVFs - Jun. 22 5/5
Cecile Fabre Steward ofCommon Room 5/5
Tess Little 250Fellow from Jun. 22-
Max Harris Fellowshi ex ired on 6 Nov. 21 0/0
Francis Brown 4/5
Wolf an
Ernst		 5/5
Peter Wilson 2/5
Dmitri Levitin 250Fellow from Jun. 22- 0/0
Phili
Nothaft		 5/5
8
Ql p
D		 U U
p
Z		 p p oo
QJ E4
R!		 bo 60 rup
U
Erik Panzer 5/5
Catriona Seth Kitchen Steward 2/5
Hasan Dind'er Resi ned 31Au 21 0/0
Andrew W nn Owen 4/5
Claire Hall Secreta to GPC 5/5
Diwakar Achar a 4/5
Julia Smith Garden Fellow 4/5
Ruth Harris 4/5
Ian Rumfitt 5/5
Katherine Backler Resi ned 30Se . 22 5/5
Sarah Bufkin 5/5
Lisa Lodwick (dec.) Intermitted I A r.21 - 1Jan. 22 2/3
Jasmine Nirod 3/5
Srikanth To
aladoddi		 Resi ned 30 Jun. 22 5/5
Ross Anderson Junior Dean (Fellowship expired 30Sep. 22) 5/5
Fitzro
Morrisse		 Financial Dele ate Oct. 20 - Se .23 5/5
David Addison Secretar to SGM 5/5
Stathis Kal
as		 5/5
Gavin Salam 5/5
Lucia Prauscello 2/5
Ma a Krislman 5/5
John Merrin
ton		 5/5
Santanu Das Diversit Fellow 5/5
Marina Warner 5/5
Anne-Mar
aret Wolf		 5/5
Rachel Br an 5/5
Karolina Watroba 5/5
K le Pratt 5/5
Alexander
Geor		 iou 4/5
Chun Hin Lucas Tse 5/5
Amia Srinivasan 4/5
Vladimir Markovic 5/5
Justin Stover 3/5
Timothy Endicott 5/5
Sheilagh, Ogilvie 4/5
Miriam Meyerhoff 5/5
Paul Seabright 5/5
Rustam Jamilov Oct. 21- 5/5
Chris Scambler Oct. 21- 5/5
Alison John Oct. 21- 5/5
Alexandros
Hollender		 Oct. 21- 5/5
Takato Yoshimura Oct. 21- 5/5
Damian Maher Nov.21- 4/4
Jane Cooper. Nov. 21- 4/4
Debin Ma Jan. 22- 2/2
Moncrieff, Ross April 22-
Other Committee Membe rs (not Trustees)
Robin Bri
s		 Emeritus Fellow
Ian Maclean Emeritus Fellow
James Malcomson Emeritus Fellow
Keith Thomas Honora Fellow
John Landers Former Fellow (Chair)
Ewen Cameron Watt External Member
Jerem
Lar e		 External Member
Geor eAnson External Member

idual value, in equal annual i nstalments over their expected useful economic lives
Freehold properties, including major extensions 20years
Leasehold properties over period oflease
C. Building improvements 20years
d. Equipment 3 —8years

Unrestricted Restricted Endowed 2022 2021
Funds Funds Funds Total Total
Notes E'000 6'000 E'000 6'000 6'000
INCOME AND ENDOWMENTS FROM:
Charitable
activities:
Teaching, research and residential 481 481 487
Other Trading Income 73 73 48
Donations
and legacies		 1 1 8
Investments
Investment
income		 9,515 9,568 10,603
Total return
allocated		 to income 16 10,511 (10,511)
Other income 5 288 288 476
Total income 11,354 53 (996) 10,411 11,622
EXPENDITURE ON:
Charitable
activities:
Teaching, research and residential 12,679 16 12,736 9,585
Public worship 141 141 117
Heritage
Generating
funds:
Investment
management		 costs 8 1,516 1,524 1,228
Total Expenditure 6,7 12,820 49 1,532 14,401 10,930
Net (Expenditure)/Income before gains (1,466) 4 (2,528) (3,990) 692
Net gains on investments 12,13 20 23,592 23,612 59,345
Net (Expenditure)/Income (1,466) 24 21,064 19,622 60,037
Other recognised
gains
Actuarial
gains on defined benefit pension schemes		 25 890 890 652
Net movement
in funds for the year		 (576) 24 21,064 20,512 60,689
Fund balances brought forward 21 43,261 2,669 480,162 526,092 465,403
Funds carried forward
at 31July		 42,685 2,693 501,226 546,604 526,092
2022 2021 2022 2021
Group Group College College
Notes C000 E'000 E'000 E'000
FIXEDASSETS
Tangible assets 10 2,703 3,052 2,701 3,049
Heritage assets 11 7,947 7,947 7,947 7,947
Property
investments		 12 253,941 235,851 250,340 233,503
Other Investments 13 284,715 279,969 284,682 279,917
Total Fixed Assets 549,306 526,819 545,670 524,416
CURRENT ASSETS
Stocks 571 571 574 571
Debtors 17 1,660 1,955 1,858 2,079
Ilavestmellls
Cash at bank and in hand 1,597 1,436 1,528 1,424
Total Current Assets 3,828 3,962 3,960 4,074
LIABILITIES
Creditors: Amounts falling due within one year 18 1,172 1,156 1,158 1,105
NET CURRENT ASSETS 2,656 2,806 2,802 2,969
TOTAL ASSETSLESSCURRENT LIABILITIES 551,962 529,625 548,472 527,385
CREDITORS: Amounts falling due after more than one year 19 1,005 1,102 1,006 1,102
NET ASSETSBEFOREPENSION LIABILITY 550,957 528,523 547,466 526,283
Defined benefit pension scheme liabilities 25 4,353 2,431 4,352 2,431
TOTAL NET ASSETS 546,604 526,092 543,114 523,852
FUNDS OF THE COLLEGE 21
Endowment
funds		 501,226 480,162 497,630 477,816
Restricted funds 2,693 2,669 2,693 2,669
Unrestricted
funds
Designated
funds		 7,976 7,976 7,976 7,976
General funds 39,062 37,716 39,167 37,822
Pension reserve 25 (4,353) (2,431) (4,352) (2,431)
546,604 526,092 543,114 523,852
2022 2021
Notes F'000 f'000
Net cash (used in) operating
activities		 28 (10,282) (8,837)
Cash flows from investing
activities
Dividends,
interest and rents from		 investments 9,568 10,603
Proceeds from the sale ofproperty, plant and equipment 494 1,000
Purchase ofproperty,
plant and equipment		 (395) (156)
Proceeds from sale of investments 17,063 202,133
Purchase of investments (16,287) (204,213)
Net cash provided
by investing
activities		 10,443 9,367
Cash flows from financing
activities
Repayments
ofborrowing
Cash inflows from new borrowing
Receipt of endowment
Net cash provided
by (used in) financing		 activities
Change in cash and cash equivalents in the reporting period 161 530
Cash and cash equivalents
at the beginning		 ofthe reporting
penod 1,436 906
Change in cash and cash equivalents due to exchange rate movements
Cash and cash equivalents
at the end		 ofthe reporting period 29 1,597 1,436

2022 2021
Teaching, Research and Residential 6'000 E'000
Unrestricted
funds
Office for Students support 302 344
Other academic income 31 24
College residential income 148 119
481 487
Total Teaching, Research and Residential 481 487
Total income from charitable activities 481 487

2022 2021
I'000 E'000
Donations and Legacies
Unrestricted funds
Restricted funds

2022 2021
6'000 E'000
Other trading income - Chichele Property Company (ASC) Ltd. 73 48
73 48

INVESTMENT INC OME
2022 2021
f.'000 E'000
Unrestricted
funds
Restricted funds
Agricultural
rent
Commercial
rent
Other property
income
Equity dividends 60
Income from fixed interest stocks
Other investment income
Bank interest
53 60
Endtnaed funds
Agricultural
rent		 2,003 2,268
Commercial
rent		 5,951 4,581
Other property
income		 1,270 1,190
Equity dividends 218 2,492
Income from fixed interest stocks 73 12
Other investment income
Bank interest
9,515 10,543
TotalInvestment
in		 come 9,568 10,603
Other Incom e
2022 2021
E'000 E'000
Coronavirus Job Retention Scheme claims 73
Profit on disposal of fixed assets 278 365
Other miscellaneous income 10 38
288 476
ANALYSIS OF EXPENDIT U RE
2022 2021
E'000 E'000
Charitable
expenditure
Direct staff costs allocated to:
Teaching, research and residential 8,693 5,170
Public worship 18 18
Other direct costs allocated to:
Teaching, research and residential 2,688 3,165
Public worship 79 53
Support and governance costs allocated to:
Teaching, research and residential 1,355 1,250
Public worship 44 46
Total charitable
expenditure		 12,877 9,702
Expenditure
on raising funds
Direct staff costs allocated to:
Trading expenditure
Investment
management		 costs 133 85
Other direct costs allocated to:
Trading expenditure
Investment
management		 costs 1,391 1,143
Support and governance costs allocated to:
Trading expenditure
Investment
management		 costs
Total expenditure
on raising		 funds 1,524 1,228
Total expenditure 14,401 10,930

Teaching
Investment Research Public 2022
Management and Resid Worship Total
E'000 E'000 f.'000 6000
Financial administration 506 506
Human
resources		 23 23
284 284
Depreciation 485 529
Effective interest payable 36 36
Other finance charges
Governance costs 21 21
1,355 1,399
Teaching
Investment Research Public 2021
Management and Resid. Worship Total
E'000 6'000 E'000 f,'000
Financial administration 368 368
Human resources 22 22
226 226
Depreciation 574 46 620
Effective interest payable 36 36
Other finance charges
Governance costs 24
1,250 46 1,296
2022 2021
6'000 E'000
Governance costs comprise:
Auditor's remuneration - audit services 21 24
Auditor's remuneration —tax and other advisory services
21 27
GRANTS AND AWARDS 2022 2021
E'000 E'000
During the year the College funded research awards and bursaries from its restricted and
unrestricted
funds as follows:
Unrestricted
funds
Grants to individuals:
Scholarships,
prizes and grants		 219 243
Grants to other institutions 30 923
Total unrestricted 249 1,166
Restricted funds
Grants to individuals:
Scholarships,
prizes and grants
Grants to other institutions
Total restricted
Endowed
funds
Grants to individuals:
Scholarships,
prizes and grants
Grants to other institutions
Total endowed
Total grants and awards 256 1,175

STAFF COSTS
2022 2021
The aggregate
staff costs for the year were		 as follows. f,'000 E'000
Salaries and wages 4,909 4,342
Social security costs 550 463
Pension costs (note 25):
Defined benefit scheme - ASCSPS 272 273
Defined benefit scheme - USS 785 715
Defined benefit scheme - USS, including movement in provision 2,891 (56)
Other benefits 95 78
9,502 5,815

The average number ofemployees ofthe College, excluding ofthe College, excluding Fellows, on a full time equivalent
basis was as follows. 2022 2021
Tuition and research 8 8
College residential 39 39
Public worship 1 1
Support 19 18
Total 67 66
The average number ofemployed College Fellows during the year was as follows.
Other teaching
and		 research 55 55
Other 3
Total 58 58

TANGIBLE FIXEDASSETS
Group Leasehold Freehold Plant and Fixtures,
land and land and machinery fittings and
buildings buildings equipment Total
f.'000 E'000 E'000 E'000 F000
Cost
At start ofyear 736 9,889 1,430 1,064 13,119
Additions 285 29 81 395
Disposals (338) (82) (420)
At end of year 736 9,836 1,459 1,063 13,094
Depreciation
and impairment
At start ofyear 736 7,491 1,111 729 10,067
Depreciation
charge for the year		 339 79 111 529
Depreciation
on disposals		 (128) (77) (205)
At end of year 736 7,702 1,190 763 10,391
Net book value
At end of year 2,134 269 300 2,703
At start ofyear 2,398 319 335 3,052
College Leasehold Freehold Plant and Fixtures,
land and land and machinery fittings and
buildings buildings equipment Total
F'000 6'000 6'000 6'000 E'000
Cost
At start ofyear 736 9,887 1,430 1,061 13,114
Additions 286 29 83 398
Disposals (338) (83) (421)
At end ofyear 736 9,835 1,459 1,061 13,091
Depreciation and impairment
At start ofyear 736 7,490 1,110 729 10,065
Charge for the year 339 79 113 531
On disposals (128) (78) (206)
At end of year 736 7,701 1,189 764 10,390
Net book value
At end ofyear 2,134 270 297 2,701
At start ofyear 2,397 320 332 3,049
None of the College or subsidiary company assets are held under finance leases.

College and Group Ashmolean National British Museum
of		 Faculty of
Museum Gallery Museum the History of Music and
Science Campion Hall' Total
E'000 f.'000 6'000 6'000 E'000 6'000
At start ofyear 4,812 1,300 1,020 808 7,947
Transfer Between Institutions (1,300) 1,300
At end of year 4,812 1,020 808 1,307 7,947

Group 2022 2021
Agricultural Commercial Other Total Total
E'000 E'000 F'000 F.'000 E'000
Valuation at start ofyear 71,548 138,598 25,705 235,851 222,959
Additions and improvements at cost 1,956 428 2,384 6,743
Disposals (621) (1,063) (2,535) (4,219) (4,347)
Revaluation gains in the year 2,663 14,474 2,788 19,925 10,496
Valuation at end ofyear 73,590 153,965 26,386 253,941 235,851
College 2022 2021
Agricultural Commercial Other Total Total
F.'000 f,'000 E'000 E'000 F.'000
Valuation at start ofyear 71,548 136,252 25,703 233,503 221,083
Additions and improvements at cost 1,956 428 2,384 6,743
Disposals (621) (1,065) (2,536) (4,222) (4,347)
Revaluation gains in the year 2,664 13,223 2,788 18,675 10,024
Valuation at end of year 73,591 150,366 26,383 250,340 233,503

All investments
are		 held at fair value.
2022 2021
E'000 6'000
Investments
Valuation
at start of		 year 279,917 231,436
New money invested 13,833 197,418
Amounts
withdrawn		 (12,792) (197,786)
Reinvested
income		 37
Increase in value ofinvestments 3,687 48,849
College investments at end ofyear 284,682 279,917
Held in subsidiaries 33 52
Group investments at end ofyear 284,715 279,969
The College's investments The College's investments in its two subsidiaries in its two subsidiaries is F98, the issued share capital of Chichele Property Company share capital of Chichele Property Company share capital of Chichele Property Company (ASC) Limited
-697and Animarum Properties Limited - fl.
Group investments comprise: Held outside Held in 2022 Held outside Held in 2021
the UK the UK Total the UK the UK Total
6'000 L'000 C000 F.'000 E'000 E'000
Equity investments 235,526 19,227 254,753 231,900 14,705 246,605
Fixed interest stocks 5,131 5,131 5,962 5,962
Alternative
and other investments		 10,486 10,486 10,829 10,829
Fixed term deposits and cash 14,345 14,345 16,573 16,573
Total group investments 246,012 38,703 284,715 242,729 37,240 279,969

The figures in this note show the Group share of the consolidated
net assets ofthe six subsid		 iaries.
2022 2021
E'000 f.'000
CityBlock (Reading) Limited Group
Share of gross assets 12,191 11,101
Share of gross liabilities (9,359) (9,151)
2,832 1,950
CityBlock (The Gillows) Limited Group
Share ofgross assets 6,911 6,199
Share ofgross liabilities (6,152) (5,932)
759 267
CityBlock (Lancaster 6) Limited Group
Share ofgross assets 4,100 4,101
Share ofgross liabilities (4,095) (3,973)
128

The results and th eir assets and liabilities of the parent and subsidiarie s
at the year end were as fo		 llows.
All Souls Chichele Animarum
College Property Properties
Co (ASC)
E'000 E'000 f.'000
Income 9,195 85 1,131
Net Expenditure, including investment gains/(losses) 11,272 (8) (1,163)
Donation to College under gift aid 76 (76)
Result for the year 20,543 (32)
Total assets 549,630 84 14,600
Total liabilities (6,516) (82) (14,709)
Net funds at the end ofyear 543,114 (109)
Seenote 35 (c)for comparative amounts.

Permanent Permanent Endowment Expendable Total
Invested Endowment Endowments
Endowment Unapplied
Capital Total Return Total
E'000 f.'000 6'000 E'000 E'000
At the beginning of the year - 1August 2021:
Gift component
of		 the permanent endowment 65,398 65,398 65,398
Unapplied total return 80,648 80,648 80,648
Expendable endowment 334,116 334,116
Total Endowments 65,398 80,648 146,046 334,116 480,162
Movements in the year:
Gift ofendowment funds
Investment return: total investment income 2,909 2,909 6,606 9,515
Investment return: realised and unrealised gains and losses 6,828 6,828 16,764 23,592
Less: Investment
management
costs		 (463) (463) (1,053) (1,516)
Other transfers (10) (10) (6) (16)
Total 9,264 9,264 22,311 31,575
Unapplied total return allocated to income (3,213) (3,213) (3,213)
Expendable endowments transferred to income (7,298) (7,298)
(3,213) (3,213) (7,298) (10,511)
Net movements
in the year		 6,051 6,051 15,013 21,064
At the end of the year - 31July 2022:
Gift component
of		 the permanent endowment 65,398 65,398 65,398
Unapplied total return 86,699 86,699 86,699
Expendable endowment 349,129 349,129
Total Endowments 65,398 86,699 152,097 349,129 501,226

2022 2021 2022 2021
Group Group College College
F.'000 6'000 f,'000 C000
Amounts falling due within one year:
Trade debtors 1,452 1,724 1,450 1,695
Amounts owed by College members 41 41 31 35
Amounts owed by Group undertakings 146 160
Loans repayable
within one		 year 4 5 4
Prepayments
and accrued income		 69 61 70 61
Other debtors 91 119 153 119
Amounts falling due after more than one year:
Loans
1,660 1,955 1,858 2,079
CREDIT ORS: falling due within one year
2022 2021 2022 2021
Group Group College College
f.'000 E'000 E'000 E'000
Trade creditors 52 52 63
Amounts owed to Group undertakings
Taxation and social security 299 345 298 344
Accruals and deferred income 481 397 467 382
Other creditors 340 351 341 316
1.172 1,156 1,158 1,105
CRED ITORS: falling due after more than one year
2022 2021 2022 2021
Group Group College College
F.'000 E'000 f,'000 E'000
Other creditors 1,005 1,102 1,006 1,102
1,005 1,102 1,006 1,102

ANALYSIS OF M O VEMENTS ON FUNDS
At 1August Incoming Resources Gains/ At 31July
2021 resources expended Transfers (losses) 2022
E'000 E'000 E'000 E'000 E'000 E'000
Endowment
Funds		 —Permanent
General 145,370 2,895 (461) (3,198) 6,797 151,403
Evans-Pritchard 305 6 (7) (7) 14 311
Penhow 188 (4) (4) 192
Lee Lectureship 172 (1) (4) 179
Feinstein 11 12
Endowment
Funds		 - Expendable
General 331,770 6,606 (1,059) (7,298) 15,514 345,533
Total Endowment Funds - College 477,816 9,515 (1,532) (10,511) 22,342 497,630
Endowment
funds		 held by subsidiaries 2,346 1,250 3,596
Total Endowment Funds - Group 480,162 9,515 (1,532) (10,511) 23,592 501,226
Restricted Funds
Sparrow 951 19 (38) 939
Library General Fund 913 18 (3) 935
Wentworth
Kelly		 520 10 (2) 532
Brownlie 81 2 84
Neill 66 1 (2) 66
Wren 54 1 (2) 53
Ford Fund 52 2 (2) 52
Humphries
Fund		 27 27
Small Library Funds
Total Restricted Funds - College and Group 2,669 53 (49) 20 2,693
Restricted funds held by subsidiaries
Total Restricted Funds - College and Group 2,669 53 (49) 20 2,693
Unrestricted
Funds
Designated
Heritage		 Assets Reserve 7,947 7,947
Other Designated funds 29 29
General funds 37,791 843 (9,979) 10,511 39,166
Pension reserve (2,431) (2,812) 890 (4,353)
Total Unrestricted Funds - College 43,336 843 (12,791) 10,511 890 42,789
Unrestricted
funds		 held by subsidiaries (75) (29) (104)
Total Unrestricted Funds - Group 43,261 843 (12,820) 10,511 890 42,685
Total Funds 526,092 10,411 (14,401) 24,502 546,604

Endowment Funds - Permanent: Funds - Permanent:
General A consolidation
ofgifts and donations
where income,		 but not capital, can be
used for the general purposes
of the charity
Evans-Pritchard The capital balance of a past donation where related income, but not the original
capital, can be used for the provision of a lectureship.
Penhow The capital balance of a past donation where related income, but not the original
capital, can be used for the purchase of advowsons and for the advancement of
learning.
Lee Lectureship The capital balance of a past donation where related income, but not the original
capital, can be used for the provision
of a lectureship.
Feinstein The capital balance of a past donation
where related		 income, but not the original
capital, can be used to fund the Feinstein Prize in Economic History.
Endowment Funds - Expendable:
General A consolidation
of gifts and donations
where either		 income, or income and capital,
can be used for the general purposes
of the charity
Restricted Funds:
Heritage Asset Reserve These funds have been reclassified
as Designated
Funds from 1stAugust 2018.
Sparrow A donation
specifically
given to the Library where both income and capital
can be used.
Library General A consolidation
ofsmaller gifts and donations
where		 both income and capital
can be used for general purposes by the Library.
Wentworth Kelly A donation
specifically
given to further research in		 European,
Mediterranean
and Near Eastern medieval
history.
Brownlie A donation
specifically
given to provide electronic resources for the study of		 Law.
Small Library Funds A consolidation
ofsmaller gifts and donations
(under		 E20,000)where both
income and capital can be used for specific purposes within the Library.
Neill For the provision
oflaw lectures or concerts to commemorate
the
Wardenship
ofthe late Lord Neill.
Wren For the conservation
and remounting
of the Christopher
Wren drawings
held
in the Library.
Ford For the provision
ofgrants for the relief ofhardslup,		 specifically for non-
academic staff.
Humphries For the provision
of an annual prize to Masters students
in Economic		 and Social
History.
Unrestricted Funds:
Heritage Asset Reserve Designated
Funds represented
by the value of the Heritage Assets in		 the Balance
Sheet. Due to the historic provenance
of the heritage		 assets and the lack ofevidence
of any specific restriction
on how they can be used,		 these funds have been classified
as designated
to be available
for public display with		 effect from 1stAugust 2018.
Other Designated Funds General donations
received by the College that have		 been designated for
Library purposes
by the Governing
Body.

ANALY SIS OF NET ASSETS B ETWEEN FUNDS
Unrestricted Restricted Endowment 2022
Funds Funds Funds Total
E'000 E'000 E'000 E'000
Tangible fixed assets and heritage assets 10,650 10,650
Property investments 253,941 253,941
Other investments 33,732 2,693 248,290 284,715
Net current assets 2,656 2,656
Long term liabilities and pension liability (4,353) (1,005) (5,358)
42,685 2,693 501,226 546,604
Unrestricted Restricted Endowment 2021
Funds Funds Funds Total
E'000 E'000 E'000 f.'000
Tangible fixed assets and heritage assets 10,999 10,999
Property investments 235,851 235,851
Other investments 31,887 2,669 245,413 279,969
Net current assets 2,806 2,806
Long term liabilities and pension liability (2,431) (1,102) (3,533)
43,261 2,669 480,162 526,092
2022 2021 2022 2021
Gross remuneration,
Number of Number of taxable benefits and
Range Fellows' Fellows' pension contributions
F
13
El-E999 4 2,334 3,201
61,000-61,999 11 20,165 17,294
F2,000-62,999 1 8,845 2,275
E3,000-F3,999 3 7,183 10,081
E4,000-64,999 13,010 17,740
65,000-65,999 5,395 11,693
F6,000-66,999 20,759
F9,000-69,999 9,126
F10,000-F10,999 10,536
F13,000-F13,999 13,596
614,000-F14,999 28,397 14,925
615,000-F15,999 15,094 15,899
F16,000-616,999 16,986 16,735
617,000-617,999 17,663
621,000-F21,999 21,738
F22,000-622,999 22,831 22,755
F23,000-623,999 23,645
F25,000-625,999 25,469
628,000-f28,999 28,049
F31,000-631,999 31,804
634,000-F34,999 34,412
F36,000-636,999 109,911
F37,000-637,999 37,878
F38,000-638,999 77,372
F39,000-639,999 79,369 39,578
F41,000-F41,999 41,424
F42,000-642,999 84,821 126,409
F43,000-f43,999 87,220 43,002
644,000-E'44, 999 44,272 44,098
645,000-F45,999 45,376
646,000-646,999 46,214
F47,000-647,999 47,922
648,000-F48,999 48,298 48,160
649,000-F49,999 49,503
F51,000-651,999 51,847
F52,000-652,999 52,762
653,000-F53,999 53,803
654,000-F54,999 54,755 54,243
F56,000-656,999 56,476
F57,000-657,999 114,850 114,438
F59,000-F59,999 59,478
F80,000-680,999 80,351
681,000-681,999 81,388
F82,000-682,999 82,925

2022 2021 2022 2021
Gross remuneration,
Number of Number of taxable benefits and
Fellows Fellows" pension contributions
F92,000-692,999 92,209
F103,000-6103,999 103,724
F106,000-F106,999 106,663
6111,000-F111,999 111,712
6127,000-F127,999 127,863
F128,000-F128,999 128,699
F129,000-F129,999 129,014
F130,000 - F130,999 130,471
F132,000 - F132,999 132,077 132,026
F133,000 - F133,999 133,238
F134,000 - F134,999 134,188
F135,000 - F135,999 135,264 135,983
F136,000 —F136,999 273i312
F137,000 —F137,999 275,779
F138,000 - F138,999 277,222
F139,000 - F139,999 278,530
F141,000 - F141,999 283,020
F142,000 - F142,999 142,485
F143,000 - F143,999 287,218 143,804
F144,000 - F144,999 144,273
F145,000 - F145,999 290,178 145,586
F146,000 - F146,999 146,511
F180,000 - F180,999 180,033
F184,000 - F184,999 184,747
86 86 3,739,435 3,514,172

2022 2021 2020 2019 2018
Discount rate 3.35'/o 1.55'/o 1.30'/o 2.20'/o 2.80'/o
Rate ofincrease in salaries 2.70'/o 2.70'/o 2.45'/o 4.60'/o 4.50'/o
Rate ofincrease ofpensions in payment (RPI) 3.40'/o 3.50'/o 2.65'/o 3.60'/o 3.50'/o
Rate ofincrease ofpensions in deferment (CPI) 2.70'/o 2.70'/o 2.45'/o 2.80'/o 2.70'/o
2022 2021
E'000 E'000
Employer contributions in the year 379 209
Current Service Cost (233) (220)
Net Service (Cost) 146
Interest on assets 161 115
Interest on liabilities (174) (134)
Net Interest (Cost) (13) (19)
Movement
in Deficit		 2022 2021
f.'000 f.'000 E'000 E'000
(Deficit) at beginning of year (983) (1,571)
Current service cost (233) (220)
Employer Contributions 379 209
Expenses paid by scheme (40) (34)
Net interest (cost) (13) (19)
Net (charge) to employer 93 (64)
Return on Scheme assets less liabilities (137) 1,401
Change in defined benefit obligation due to assumptions 3,189 (749)
Net actuarial gains/(losses) 3,052 652
Surplus/(Deficit)
at end		 ofyear 2,162 (983)
Movements
in fair		 v a lue of asse ts and scheme liabilities
(ASCSPS):
2022 2021
6'000 6'000
Fair value of assets at the start ofthe year 10,346 8,847
Interest on assets 161 115
Employer
contributions		 379 209
Employee Additional Voluntary Contributions 23 27
Benefits paid (275) (219)
Expenses paid by scheme (40) (34)
Return on assets less interest (137) 1,401
Fair value of assets at the end of the year 10,457 10,346
2022 2021
f.'000 E'000
Value ofliabilities
at		 the start of the year (11,329) (10,418)
Current service cost (233) (220)
Employee Additional Voluntary Contributions (23) (27)
Interest cost (174) (134)
Benefits Paid 275 219
Changes to financial assumptions 3,189 (749)
Value of liabilities at the end of the year (8,295) (11,329)

required
by		 FRS102for ASC SPS and the USS deficit recovery provision,
as follows:
2022 2021
L'000 E'000
Universities Superannuation Scheme (USS) 3,676 659
All Souls College Staff Pension Scheme (ASCSPS) 272 273
3,948 932
The pension deficit liabilities
in the Balance Sheet are:
2022 2021
E'000 E'000
All Souls College Staff Pension Scheme 983
USS pension liability 4,353 1,448
4,353 2,431

2022 2021
E'000 E'000

2022 2021 2022 2021
Group Group College College
C000 E'000 E'000 E'000
Financial assets measured at amortised cost 3,188 3,330 3,170 3,282
Financial liabilities measured at amortised cost (392) (414) (393) (379)
Financial assets measured at fair value 284,715 279,969 284,682 279,917
Financial liabilities measured at fair value (5,358) (3,533) (5,358) (3,533)
2022 2021
Interest Interest Gains / Interest Interest Gains /
Income (Expense) (losses) Income (Expense) (losses)
E'000 i'000 E'000 f.'000 E'000 E'000
Financial assets measured
at		 fair value through 3,687 48,849
SOFA
Financial liabilities measured at fair value through (36)
SOFA
Financial assets measured
at		 amortised cost
Financial liabilities
measured		 at amortised cost
28 RECONCILIATION OF NET INCOMING RESOURCES TO
NET CASH FLOW FROM OPERATIONS 2022 2021
Group Group
F.'000 E'000
Net income 19,622 60,037
Elimination
ofnon-operating		 cash flows:
Investment
income		 (9,568) (10,603)
(Gains) on investments (23,612) (59,345)
Depreciation 529 619
(Surplus) on sale of fixed assets (279) (364)
Decrease in stock 17
Decrease in debtors and short term investments 295 65
(Decrease)/Increase in creditors (81) 729
(Decrease)/Increase in provisions
Increase in pension scheme liabilities before gains 2,812 8
Net cash (used in) operating activities (10,282) (8,837)
29 ANALYSIS OF CASH AND CASH EQUIVALENTS
2022 2021
E'000 E'000
Cash at bank and in hand 1,597 1,436
Total cash and cash equivalents 1,597 1,436
2022 2021
f,'000 E'000
Other
payable between two and five years

equity an d the Fellows who are joint own ers are:
2022 2021
6000 6'000
Professor V.Markovic 276
Professor C.Trifogli 78 78
Professor S.Bobzien 338
College share of the equity of properties owned jointly with Fellows 354 416

Unrestricted Restricted Endowed 2021
Funds Funds Funds Total
Notes E'000 6'000 E'000 6'000
INCOME AND ENDOWMENTS FROM:
Charitable
activities:
Teaching, research and residential 487 487
Other Trading Income 48
Donations
and legacies		 7
Investments
Investment
income		 60 10,543 10,603
Total return allocated to income 10,034 (10,034)
Other income 476 476
Total income 11,052 61 509 11,622
EXPENDITURE ON:
Charitable
activities:
Teaching, research and residential 9,534 42 9,585
Public worship 109 117
Generating
funds:
Trading expenditure
Investment
management		 costs 1,221 1,228
Total Expenditure 6,7 9,643 49 1,238 10,930
Net Income before gains 1,409 12 (729) 692
Net losses on investments 12,13 275 59,069 59,345
Net Income 1,410 287 58,340 60,037
Transfers between
funds		 19 (19)
Other recognised
(losses)/gains
Actuarial(losses)/gains on defined benefit pension schemes 652 652
Net movement
in funds for the year		 2,081 268.0 58,340.0 60,689
Fund balances brought forward 41,180 2,401 421,822 465,403
Funds carried forward at 31July 43,261 2,669 480,162 526,092

Group 2021
Agricultural Commercial Other Total
E'000 E'000 E'000 f.'000
Valuation at start ofyear 64,546 132,785 25,628 222,959
Additions and improvements at cost 3,223 1,082 2,438 6,743
Disposals (128) (796) (3,423) (4,347)
Revaluation losses in the year 3,907 5,527 1,062 10,496
Valuation at end ofyear 71,548 138,598 25,705 235,851
College 2021
Agricultural Commercial Other Total
E'000 E'000 E'000 E'000
Valuation at start ofyear 64,546 130,911 25,626 221,083
Additions and improvements at cost 3~223 1,082 2,438 6,743
Disposals (128) (796) (3,423) (4,347)
Revaluation losses in the year 3,907 5,055 1,062 10,024
Valuation at end of year 71,548 136,252 25,703 233,503

All Souls Chichele Animarum
College Property Properties
Co (ASC)
E'000 E'000 f'000
Income, including investment gains 10,460 48 1,097
Net Expenditure 50,203 (13) (1,123)
Donation to College under gift aid 42 (42)
Result for the year 60,705 (7) (26)
Total assets 528,490 49 14,172
Total liabilities (4,638) (48) (14,248)
Net funds at the end ofyear 523,852 (76)

STATEMENT OF INVE STM E NT TOTAL RETURN -NOTE 16
2021
Permanent Endowment Expendable Total
Invested Endowment Endowments
Endowment Unapplied
Capital Total Return Total
E'000 E'000 E'000 E'000 E'000
At the beginning
of the		 year:
Gift component
of the permanent		 endowment 65,398 65,398 65,398
Unapplied
total return		 62,967 62,967 62,967
Expendable
endowment		 293,457 293,457
Total Endowments 65,398 62,967 128,365 293,457 421,822
Movements
in the reporting		 period:
Gift of endowment
funds
Investment
return: total		 investment income 3,223 3,223 7,320 10,543
Investment
return: realised and		 unrealised gains and losses 17,911 17,911 41,158 59,069
Less: Investment
management		 costs (374) (374) (848) (1,222)
Other transfers (12) (12) (4) (16)
Total 20,748 20,748 47,626 68,374
Unapplied
total return allocated to income		 (3,067) (3,067) (3,067)
Expendable
endowments		 transferred to income (6,967) (6,967)
(3,067) (3,067) (6,967) (10,034)
Net movements
in reporting		 period 17,681 17,681 40,659 58,340
At end of the reporting period:
Gift component
ofthe permanent		 endowment 65,398 65,398 65,398
Unapplied
total return		 80,648 80,648 80,648
Expendable
endowment		 334,116 334,116
Total Endowments 65,398 80,648 146,046 334,116 480,162

ANALYSIS OF M OVE M ENTS ON FUNDS
—N		 OTE 21
At 1August Incoming Resources (Losses)/ At 31July
2020 resources expended Transfers gains 2021
E'000 E'000 E'000 6'000 C000 f,'000
Endowment
Funds		 - Permanent
General 127,760 3,208 (372) (3,053) 17,827 145,370
Evans-Pritchard 271 7 (5) (6) 38 305
Penhow 173 (9) (4) 24 188
Lee Lectureship 151 (4) 21 172
Feinstein 10 1 11
Endowment
Funds		 - Expendable
General 291,583 7,320 (852) (6,967) 40,686 331,770
Total Endowment Funds —College 419,948 10,543 (1,238) (10,034) 58,597 477,816
Endowment
funds		 held by subsidiaries 1,874 472 2,346
Total Endowment Funds - Group 421,822 10,543 (1,238) (10,034) 59069 480 162
Restricted Funds
Sparrow 884 22 (36) (19) 100 951
Library General Fund 801 21 (2) 93 913
Wentworth
Kelly		 457 11 (1) 53 520
Brownlie 71 2 8 81
Small Library Funds 59 66
Neill 49 (2) 54
Wren 52 (7) 52
Ford Fund 23 (1) 27
Humphries
Fund
Total Restricted Funds - College and Group 2,401 61 (49) (19) 275 2,669
Restricted funds held by subsidiaries
Total Restricted Funds —College and Group 2,401 61 (49) (19) 275 2,669
Unrestricted
Funds
Designated
Heritage Assets Reserve		 7,948 7,948
Other Designated funds 28 29
General funds 36,322 1,018 (9,602) 10,053 37,791
Pension reserve (3,075) (8) 652 (2,431)
Total Unrestricted Funds - College 41,223 1,018 (9,610) 10,053 653 43,336
Unrestricted
funds		 held by subsidiaries (42) (33) (75)
Total Unrestricted Funds - Group 41,180 1,018 (9,643) 10,053 653 43,261
Total Funds 465,403 11,622 (10,930) 59,997 526,092