# ## ## ||||Page| |---|---|---|---| |Report of the|Governing
Body||| |Independent|Auditor's
Report||30| |Consolidated|Statement
of Financial|Activities|38| |Consolidated|and College Balance|Sheets|39| |Consolidated|Statement
ofCash Flows||40| |Notes to the|Financial
Statements||41| |||||||||||||||||||I| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |~
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FC|(2)
ST|(3)
DC|(4)
PC|(5)
SLAG|(6)
WC|(7)
JRC|(8)
H8|(g)
NC|(10)
EC| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||||SC||| |Dr Alskssi|||||||||||||||||| |Parakhonyak|||||||||||||||||| |Dr J-P Park|||||||||||||||||| |Dr Alexander|Prescott-|Harassment|||Adviser||||||||||||| |Couch|||||||||||||||||| |Prof Jordan Raff|||||||||||||||||| |Prof Roland (Bert)|||||||||||||||||| |Smith|||||||||||||||||| |Dr Harriet Sopsr|||||||||||||||||| |Mr Alex Spain||Bursar|||||||||||||||| |Dr Maria||Fellow Librarian|||||||||||||||| |Stamatopoulou|||||||||||||||||| |||Senior Dean;|||||||||||||||| |Dr Paul Stavrinou||Secretary|||to ths||||||||||||| |||Governing|||Body||||||||||||| |Prof Margaret|Stevens||||||||||||||||| |Dr Andreas||Deputy|Fellow for||||||||||||||| |Tslevantos||Schools Liaison|||||||||||||||| |Dr loannis Vakonakis||Wsbsits||Fellow|||||||||||||| |Prof David Vaux|||||||||||||||||| |Prof Dominic|Vslla||||||||||||||||| |||Fellow|for||Schools||||||||||||| |Dr Qian Wang||Liaison|||||||||||||||| |Dr Gabrislls Watson|||||||||||||||||| |||Senior|Treasurer||||of||||||||||| |Prof Michael|Willis|Amalgamated||||Clubs|||||||||||| |||Welfare||Dean|||||||||||||| |Dr Lucy Wooding||Fellow|Archivist||||||||||||||| |Prof Henry||(Rector —Sabbatical)|||||||||||||||| |Woudhuyssn|||||||||||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Risk||Description|Management
of Risk| |---|---|---|---| |Reputation||Impairment
of College's standing|The College has a comprehensive
Governance
structure
with
multiple| ||||committees
reporting
to the Governing
Body;| ||||it regularly
reviews
its strategic
planning,| ||||seeks to maintain
the highest academic| ||||standards
and is careful
in its operational| ||||management.
The College monitors
and| ||||reviews
its welfare,
diversity
and equality| ||||practices and policies.| |Statutory
regulatory
risks|and|Impact of governmental,
regulatory
and University
bodies
on the College's activities.
Substantially
increased
regulation|The College is actively
involved
with the
Conference of Colleges to participate
in
policy-making.
It is vigilant
in corporate
governance.
Governing
Body, advised
by its
committees
reviews
and implements
policies.| ||||Officers are focused on regulation.
External| ||||advisers are retained
where appropriate.| |Funding
financial
risks|and|Impact ofexternal developments
on tuition
funding,
impact of
market movements
on financial|The College maintains
high academic
standards
and a substantial
endowment
to
protect tuition funding.
Diversification
of| |||returns
and on endowment|investments
and monitoring
of prudent
risk| |||funding
ofoperational
activities,
impact of shared
pension
obligations|parameters
reduce risks in financial
returns.
The College monitors
developments
in the
USS pension scheme and its views are
solicited
by the relevant
authorities.| |Cyber-
security|risks|Disruption
of activities and loss of
data due to impairment
of IT
capability
or data breaches;
ransomware
attacks|Measures
taken
by the University
and the
College to improve
security,
including
multi-
factor authentication
and vulnerability
testing.
Ongoing
protection
measures
are being| ||||undertaken.| |Other
operational
risks||Operational
risks, including
security and human
resources,
insurance,
maintenance
and risk|Regular review of operational
plans,
specialist external
advice, compliance
with
established
procedures
as well as investment| |||ofrecession
impacting|in resources.| |||conference
income|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||I/nrestricled|Restricted|Endowed|2021|2020| |---|---|---|---|---|---|---|---| ||||Funds|Funds|Funds|Total|Total| |||Notes|E000|F.'000|E000|F:000|E000| |INCOME /IND ENDOWMENTS|FROM;||||||| |Charitable
activities:
Teaching, research
and resldenUal
Other Trading Income
Donations
and legacies|||5,146
71
52|5,579|8,723|5,146
71
14,354|4,858
111
7,690| |investments
Investment
income
Total return aUccated to Income
Other income -Coronavirus
Job RetenUon Scheme
Totet income||4
14|426
2,123
481
8,299|82
1,157
6,818|1,497
(3,280)
6,940|2,005
481
22057|2,438
309
15,404| |EXPENDITURE ON:|||||||| |Charitable
activities:
Teaching, research snd|residential||7,300|2,954|20|10,274|9,567| |Generating
funds:
Fundraislng
Trading expendaure
Investment
management
Total Expenditure|costs||501
76
444
8,321|3,043|2,060
2,080|501
78
2 593|595
108
1,226
11,486| ||||||||918| |Net Income/(Expenditure)
before gains|||||||| |Net gains/(losses)
on Inveslmenls||11,12,16|604|747|14,432|15,683|(3,127)| |Nst Income/(Expenditure)|||||||| |Transfers
between
funds||19|1,488|(1,637)|161||| |Net movement
In funds for the year||||2,885|19,443|24,298|791| |Fund balances brought forward||19|29,970|7,007|124,437|161,414|160,623| |Funds carried forward at 31|July||||||| ## ||||2021|2020|2021|2020| |---|---|---|---|---|---|---| ||||Group|Group|College|College| |||Notes|6'000|B000|B000|B000| |FIXEDASSETS
Tangible assets||9|40,370|36,945|40,370|36,945| |Heritage assets
Propeny Investments
Other Investments||10
11
12|59,841
108,593|60,645
78,466|69,841
97,348|60,645
68,262| |Total Fixed Assets||||176,056|197,559|165,842| |CURRENT ASSETS
Stocks
Debtors
Investments
Cash al bank end in|hend|15
16|149
1,824
6,070
2,961|140
1,366
7,386
10,669|149
1,900
6,070
2,879|140
2,545
7,386
9,482| |Total Current Assets|||11,004|19,560|10,998|19,553| |LIABILITIES
Creditors: Amounts|falling due within one year|17|2,058|1,717|2,055|1,715| |NET CURRENT ASSETS|||8,946|17,843|8,943|17,838| |TOTAL ASSETS LESS|CURRENT LIABILITIES||217,750|193,899|206,502|183,680| |CREDITORS: faglng due after more than one year||18|30,694|30,719|30,694|30,719| |NET ASSETS BEFORE PENSION ASSET OR LIABILITY|||187,056|163,180|175,808|152,961| |Defined
benefit
pension scheme liability||238 31|(1,346)|(1,766)|(1,346)|(1,768)| |TOTAL NET ASSETS|||185,710|161,414|174,462|151,195| |FUNDS OF THE COLLEGE||||||| |Endowment
funds||19|143,880|124,437|132633|114,221| |Restricted funds||19|9,892|7,007|9,892|7,007| |Unrestricted
funds
Deslgnaled
funds
General funds
Pension reserve||19
23|28,838
4,446
(1,346)|28,709
3,027
(1,766)|28,838
4,445
(1,346)|28,709
3,024
(1,766)| ||||185,710|161,414|174,462|161,195| ## ||||||2021|2020| |---|---|---|---|---|---|---| |||Notes|||6'000|5'000| |Net cash provided
by (used In) operating
activities||25||||| |Cash flows from Investing
activities
Dividends,
interest and rents from investmsnts|||||2,005|2,438| |Proceeds from the sale of property,
plant snd equipment
Purchase
of property,
plant and equipment
Proceeds from sale of Investments
Receipt from/(purchase)
ofcurrent asset Investments|||||(4,100)
3,010
1,556|(6,684)
3,351
(597)| |Purchase
offixed asset investments||||||| |Net cash provided
by (used In) Investing
activities||||||| |Cash flows from financing
activities||||||| |Repayments
of borrowing||||||| |Cash inflowe from new borrowing
Receipt of endowment
Net cash provided
by (used In) financing
activities|||||8,723
8,723|2,948
2,948| |Change
in cash and cash equivalents
In the reporting|period|||||| |Cash and cash equivalents
at the beginning
ofthe
reporfing
period|||||10,669|16,331| |Cash and cash equivalents
at the end of the reporting||||||| |period||26||||| |Anlaysis ofchanges
In net debt|||At 1 August
2020|Cash flows|Other non-
cash changes|At 31July
2021| ||||6'000|6'000|6'000|6'000| |Cash at bank and
In hand|||10669|(7708)||2,961| |Loans falling due after more than one year||18|(30,719)||25|(30,694)| ||||20,050|7,708|25|27,733| ## ## |INCOME FROM CH|ARITABL|E ACTIVITIES|||||| |---|---|---|---|---|---|---|---| |||||||2021|2020| |||||||8'000|EWO| |Teaching, Rosesrch|and Residential||||||| |Unrestrktsd
funds||||||1,676|1,469| |Tdson fees - UK|end EU students|||||ees|747| |Tuilkm fees.Overseas students||||||64|30| |Other fees||||||267|218| |Other ONce for Students support||||||209|88| |Other academic Income||||||2,074|2,304| |Cokege resldenkel|Income||||||| |Total Teaching, Research end Reeldennsl|||||||| |The above analysb|krdudes|12,824k received from Oxford Universky|from pumdy|accountable|funds under the CFF Scheme (2020:22,478k)||| |DONATIONS
AND|LEGACIES|||||2021|2020| |||||||6'000|EWO| |Donations end Legacies||||||62|g44| |Unrastdcted
funds||||||s,eys|3,798| |Resmded
funds||||||8,723|2,948| |Endowed
furst a|||||||| |INCOME FROM OTHER TRADING ACTIVmES||||||2021|2020| |||||||E'000|&NO| |||||||71|| |Subsidiary
company|tredng|Income|||||| |INVESTMENT INCOME||||||2021|2020| |||||||F.'000|F.'000| |Unrs eluded funds||||||4|7| |Agrlcukural
rant||||||107|48| |Commercial
rent||||||316|468| |Other pmperty
Inccme|||||||6| |Equity dividends|end Axed Interest||||||21| |Bank mtered|||||||| |Reslrkte d funds
Agricultural
rent||||||8
61|7I| |Ccmmerdal
rant||||||8|s| |Other property
income||||||18|22| |Equky dMdsnds|and Sxed mteresl||||||| |Endowed funds||||||188|182| |Agrlcukurel
rent||||||1,136|1,301| |Commsrdal
rent||||||138|144| |Otter properly
income|||||||187| |Equity dlvklends|and Sxsd Interest||||||| |ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE||2021|2020| |---|---|---|---|---| ||||r.'000|2'Uetl| |Charitable
expendnure||||| |Olrsct staff costs elmcaled|to:||4,305|3,905| |Teaching, research
and|restd enUal|||| |Other direct costs aUocsled||to:|3,01S|3,605| |Teaching, research end|resldengaf|||| |Support
and governance
coals agoceted lo:
Teaching, research end resklsngsl|||1,904|2,147| |Total charuabla
expenditure||||| |Expenditure
on raising funds||||| |Direct steff coats stecaled|lo.||303|397| |Fundralslng|||38|00| |Trading
expendgum||||| |investment
management||costs||| |Other direct costs elkmalsd||to:|84|149| |Fundralsbtg|||40|42| |Trading
expendUure
Investmenl
Inanagemenl||costs|2,220|047| |Support and governance
costs atocated to:|||34|| |Fuftdndslng||||| |Trading
expenditure|||365|379| |Investment
management||costa|~3170|1,020| |Telal expenditure
on raising||funds||| |Total expendaure||||| ## |ANALYSIS O|FSDFF|ORTANDGOVERNANCECOSTS|||| |---|---|---|---|---|---| |||||Teacwng|| ||||Generating|end|2021| ||||Funds|Research|Tobd| ||||EWO|E'000|E'000| ||||18|461|469| |Financial
edmlnlstrsUon||||218|218| |Damsels admlnhtralkm||||63|83| |Human
resources|||16|136|161| |IT||||676|676| |DepredaUon|||||| |Losel(prolh)|on fixed|assets||381|723| |Sank snd han lrxerest payable||||13|13| |Other gnence|chwges|||27|31| |Governance|costs||||| |||||Teaching|| ||||Grinwaeng
Firnds|snd
Reseemh|2020
Total| ||||2'000|6000|COOO| |||||603|622| |Flnendal
sdmlnhtraUon||||196|198| |Oomesgc sdmhtst||Uon||7g|79| |Human
resowces|||29|263|2g2| |IT||||883|883| |Depredation|||||| |Lies/(progt)|on fhed|assets|378|377|766| |Sank Interest peyetge||||38|38| |Other finance chsrgrw||||28|28| |Governance|costs||||| ## |year ended 31July||2021|||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||||2021|||| |GRANTS AND AWARDS||||||||||||||||F.'000|||| |During Ihe year the Craege
burserlss
to students
from||funded research awards
ls reslrhted
end||||||end|||||||||||| |unrestricted
fund es folknvs:|||||||||||||||||||| |Unrestricted
funds|||||||||||||||||||| |Grants to Indivklueh:|||||||||||||||||40|96|| |Scholarships,
prizes and grants|||||||||||||||||71|80|| |Sursedes
end hardship||awards|||||||||||||||||| |Total unrestricted|||||||||||||||||||| |Restricted funds|||||||||||||||||||| |Grants to individuals:
Scholarships,
prtces end grants||||||||||||||||1,483
304||I,cef
121|| |Bwsarfes snd hardship||awards|||||||||||||||||| |Total rsstrlcled|||||||||||||||||||| |Total grants and awards|||||||||||||||||||| |Ths figure nduded
shove||represents|||the|cost lo Ihe College|||of|the Oxford|Surswy scheme. The College contdbuted||771k(2020:F8Dk) lo this|||scheme.|||| |The above costs are induded
wlMn||||Ihe chsrhebw|||expendlure|||on Teaching|end Research.||||||||| |STAFF COST6||||||||||||||||2021||2020|| |The egg re Sale
ateifcosts||for the year|||were as folowe.|||||||||||NDDD||21m|0| |||||||||||||||||42m3||4,691|| |Salaries end wages
Social security costs||||||||||||||||Sga||398|| |Pennon costs:
Deansd benefh schemes - corelbuUons
Deaned benefit schemee -movement||||||paid in Ihe year (note 23)
In movlsion
(note 23)||||||||||778
(420)
111||776
(916)
147|| |Other bensfils|||||||||||||||||||| |The average number of|employees|||ofthe||Cogege,|exdudng||Trustees,|||||||2021|||| |on e full Ume equivalent|basis was||rw||fclows.||||||||||||||| ||||||||||||||||||22|21|| |Tuwon wd research|||||||||||||||||47|69|| |College resldenUal|||||||||||||||||4||a| |Fundrelsng|||||||||||||||||28|12|| |Support|||||||||||||||||||| |Total|||||||||||||||||||| |The average number of|employed||CC4ege Trustees|||||during
the||year wes ee felknvs.|||||||||| ||||||||||||||||||14|12|| |Unlvrsfty
Lecturers|||||||||||||||||11||9| |CUF Lerfwers|||||||||||||||||4||4| |Other teaching
end research|||||||||||||||||a||4| |Other|||||||||||||||||||| |Total|||||||||||||||||||| |The folovrng
information||relates to||the empnyees||||ofIhe College excluding|||Ihe College Trustees. Deluge ofthe|remunereUon||and reimbursed||expenses ofthe Cclege||Trustees|| |Is Included ess separate||note Inthese ttnancul statements.|||||||||||||||||| |The number
of employee||e (excluding|||the|Col age|Trustees)||whose gross pay end benefils (exdu ding employer|||Nl|end pension||conlrlbuUons)|exceeded|6600tn were||| ## |9|TANGIBLE FIXED ASSETS||||| |---|---|---|---|---|---| ||Group and CoNege|Leasehold
Iertd ted
buiuings
7ODD|Free hokl
land end
buidlngs
ENDO|Fixtures,
NIUngs end
equpm ant
EOOD|Total
6'ODD| ||Cost
At alert ofyear
Addaons|4,512|39,743
4,100||45,350
4,100| ||Dlsposels||||| ||At end ofyeer|4612|43843||49450| ||Depreciation
snd impairment
At start ofyear
Depreclaam
charge Ok ttw year|647
92|6,878
554||8,406
675| ||Depredation
on disposal ~||||| ||At end ofyear|739|7,432||0080| ||Net book value
At end ofpesT|3,873|38,411||40,370| ||At start ofyear|3,965|32,865|116|36,946| ## ## ## ## ## |All investments
are hald et fair value|2021|2020| |---|---|---| ||EOIN|ETIOO| |Cogsge Inveslmenls
Valuation
at start otyear
Nsw money Invested
Arrrounis
wllhdrawrl|88+50
18,817
(1,418)
42|68,297
1,116
(2,698)
144| |Renvested
ncome
Investment
management
fees
(Dscreaseyincresse
In value ef Investmenls|(1,200)
14,865|(485)
1,776| |External Investments
al end ofyear|I}7,348|| |Invastrrrmrt
kl subsidiaries||| |College fnvealmanls
al snd ofyear||| |Group Investmente
ValusUon at start ofyear
New money Invested
Arrtnurlls
whhdrawn|78,488
18,817
(1,418)|78,422
1,116
(2,612)
214| |Reinvented
income
Investment
management
fees
(Decrease)4ncrease
In value of Investmenls|(1,241)
15,916|(612)
1,838| |Group Investments
at end ofyear||| |Group Investments
comprise:|2021
Total|2020
Total| ||6'000|ETNO| |Equity mvestments
CredU and Government
Bonds
Alternative
end dher invastmsnls
Fixed lerm deposits
end cash|87,988
26,93'I
8,018
U,eUe|60,829
18,851
5,324
3,462| |Total group Investments||| ## ## ## |16|DEBTORS|||2021|2D20|2D21|202D| |---|---|---|---|---|---|---|---| |||||GIOUp|Group|College|College| |||||E'000|EOIM|LODD|EDOO| ||Amounts
faglng due wuhln ons year.|||610|310|477|310| ||Trade debtors||||23||23| ||Ammmts
owed by Cdmge membem|||||117|1,112| ||AIAOUAts owed by Gfoup urrdonaklAgs||||||| ||Loans repayade
wkhln|one|year|221|||276| ||Prepaymenls
and accrued||income||||| ||Amounts
faglng due|after mora than one year.'||||1,085|024| ||LUSAs||||||| |10|CURRENTASSET INVESTMENTS||||||| ||||||Other|2021|2020| ||Sraup and College||||short tsnll|Total|Total| ||||||EDDD|f.'000|E'MO| ||ValuaNon
al start of ymu'||||7,300|7,300|6,409
2,697| ||Add done
Dispossls||||(1,650)|(1,560)|(2,000)| ||Net movement
on deposgs|||||240|| ||Revaluation
gainer(lossm)||in the year||||| ||||||I37ITO|00|| ||ValuaUon at end ofyear||||||| |17|CREDITORS: fsgfng|due|within one year|2021|2020|2021|2020| |||||GIUUp
f.'000|Group
fDM|College
f.'000|Comge
ETC0| |||||499||~09|| ||Trade creditors|||70||70|| ||Taxagon and sodal secursy
Accruals and deferred
Income|||1,019
401|094
637|1,019
458|892
637| ||Other credsds||||||| |10|OREDITDRR felUng|due after more than one year||2021|2020|2021|| |||||Group
f.'000|Group
f.'000|College
6'000|| ||BsAk loans
Notes|||S,DOO
20,694
100|6,000
25,619
100|6,000
20,694
100|5,000
26,819
100| ||Other crsdgors||||||| |||||||ee|| ## ## ## ## ## ## |Actumlal
Valuations|Actumlal
Valuations|Actumlal
Valuations|Actumlal
Valuations|Actumlal
Valuations|Actumlal
Valuations|Actumlal
Valuations||| |---|---|---|---|---|---|---|---|---| |Quemed
actuaries
perkdfce Ikj value
Ihe USS end
OS pS schemes
uemg ths 'pro)sued
unit method',
embracing e mmket value approach.
take account ofactuarial surpluses
or delwhs
in each scheme.
The finan«sl
assumptions
were derived from market cond hlons preveitng
the tete st actuarle
Ivane gone end the as sun pitons which have the mast slgnNc
ant
effect on the resuks wars|||||||The recutgng leven of conbibu
sl Ihe valuaUon date. The res|gun
uhs of| |Dslsofv8katl«r;
Dalevauae resskt Psmshsa
Yaws ofgstagw
lrakvr of888«8'
Rmkng mrpus I(dstkhk
Prfadfal~:|||||31$3I2613
lf4M2ND
ref2m
Ea7tn
(f3aa)
CPI ~ 073!tlo||3103IMIII
INWI2020
BN!m
Naiu
(5113m)
Shy+05%.26%|| |O
It|||||CPI8262%s||b|| |Rsl~sthereat 8h satsis!|||||DPI 8||Average RPICPl d|| |Rale olhmtsw
fn Pwutons
as~an re acean I alags 65
tm«~
«888
Females auenly
egad 65|||||24.eye
MIyu||21.7p8
M.4ps|| |xru
tfmu«||||||||| |Femaku con«ay aged 45|||||27.70ps||268ps|| ||||||||37'5|| ||||||||74%|| |~ed uaphys is «autuIsn
78I~(ss '5 olpsndonum|saisdtsk|2115Incrsaing lo214% on DIIIN2021||||||| ||||||||31azgezf|| |a.
The discount rale (forward rates) for the USS vsmslon was:||||||||| |Years 1-10
DPI + 0.14%reducing|Ih early lo DPI|- 0.73%||||||| |Years 11-20
C PI +2.52% redudng|Une arly to C Pl|+1.65%||by ye 8r21||||| |Years 21 +
CPI +1.55'5||||||||| |b.
The discount
rale forth@
OSPS vektekon was:||||||||| |Prs-retimment
Equal to Ihe UK nominal
gN cunre et Ihe valueuon|||||date plus 2.6'6 p.e.ul sech term.|||| |Prs-ragrament
Equal lo Ihe UK nominal
gkt curve al||Ihe valuaUon|||data plus 0.6% p.e. el each term.|||| |Pensions increases (CPI) lor Ihe USS valuaUon|wes:|||||||| |Term dependent
rates h Une whh the difference between||the F«ed||Interest end Index Lhked yield cuvas, less 1.3%p.a.||||| ## |expanses and defined conlribugons,|expanses and defined conlribugons,||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |SenslUvity
of actuarial
valuegon
Surpluses
ordeltdls whkh arhe et|assumptions
future vetuaeone|may impact on|the Cfdegs'e future conlrlbugon|ccmmgment.|Tha sensgivtUes|regarding||the principal
assumpUons|||used to| |measure the scheme gebatles ere set out below:|||||||||||| |Assumption|||USSChange
In assumpaon||||Impact on USS Sahglues||||| ||||tmmee Iredvrs by0.15||||deowes Iheesse by||m 2bn||| ||||reduce by 185||||decwse 8Iincasee by||184tn||| ||||hueaBB Irules
Irf 01%||||huss IeIdsuaus
by||10Ibn||| |||sam|pw4snl~(aleltee/ eral Blhei BBlrrdcrr, rated||dern||||||| ||||by 8mlher yew(||||||||| |Assumption|||ogps change In assumption|||Impact on||OSPS technknl||provision»|| |Vllsstxa rais rf htefsxl|||dsosBw byOSS|||||Irmwue by 145m|||| ||||husass
by 82PU|||||hermes
by 140m|||| |Denolt RecovBry Piaffe
In Ime wlh FRS 102paragraph
20,11A, Ihe CoUege||hes reconglsed|8 Uabaty for Ihe conuibutlons|paysbm for Ihe|agreed deeck furxgng||plan.|The prhdpm|assumptions||used In| |lhasa cslculaUons
sre tabled bemw.|||||||||||| |Deficit Recovery Plans|||||||||||| ||||OSPS|||||USS|||| |Fhhh Dale lorIhkl Uscmwy Rsn
Avwaae staff rerretel Isuwtut|||3006K28
2.4-4 45
210'5|||||3 l03I2128
24-4.4'5
2dlh|||| |Avmgs dell eatery tween e
vsrsge tlwovrtt raxr over faded
Udsd of05%change h dhtosel rale
Shet ol I'5
hstsl|||IANI
Elxw
f2aa|||||1.155
15ae
II2 dm|||| ## ## |26|RECONCILIATIOH
OF NET INCOME TO|||||2021|2020| |---|---|---|---|---|---|---|---| ||NET CASH FLOW FROM OPERATIONS|||||croup|Group| |||||||r.'000|5'000| |||||||24,2N|791| ||Nsttnoomel(expendaure)||||||| ||EltminaUon
of non-operating
cash 0ows:
Invrmtment
Income
(Gains)trusses
In Investments
Endowment
dona gone|||||(2,005)
(16,683)
(0,723)
076|(2,430)
3,127
(2,940)
663| ||DsprsdaUon||||||| ||(Surplus)floss
an eels of Uxed assets
Decreeeef(increase)
In stock
Decrease/(Incmsse)
In debtors
(Decrease)flncrease
h creddors
(Decrease)f Increase
In pension scheme tlabsty|||||(9)
(4591
310
(420)|(12)
177
(465)
(070)| ||Net cash provtded
by (used In) operattng||scUvttlee||||| |20|ANALYSIS OF CASH AND CASH EGUNALENTS|||||2021|2020| |||||||r.'000|| ||Cash et bank and
In hend|||||2,001|10,009| ||Total sash and cash equivalents||||||| |27|FINANCIAL
COMMITMENTS||||||| ||At 31July the Cosege had commamenls|mdsr noncancegabls||oparagng|leases es fotows'|2021
Entgg|| ||Lend and bugdlngs||||||| ||ex plrtng
wgmn aneyear||||||611| ||expldng between one end Uvs years||||||| |28|CAPITAL COMMITMENTS||||||| ||The CoUege had contracted
commltmenle||al 31 July for tang iue Uxed asset protects totatUng 2am (2020-238m).||||| ## ## |The kans outstanding|al 31 July with Ihe balances were ss fogows:|2021|2020| |---|---|---|---| |||2'000|2'000| |||108|108| |Dr Radu Coklaa||108|108| |Dr Real Oulens||132|| |Dr R Mkheel||117|117| |Dr D Omlor||120|120| |Or A Parekhonyak||132|| |Dr A Prescott-Couch||110|110| |Dr M Stemelopolou||132|132| |Ortuaa
ws||117|117| |Prof M WNis|||| |Intarsal m charged on|Ihe above loans.|Ag loans ere repayable|on Ihe departure|on Ihe departure|of Ihe|trustee fram the Colkrge.||| |---|---|---|---|---|---|---|---|---| |fn eddaon the frdkrrdng|trustees had interest free cepgal expenditure|||loans outstanding||from the Cofege at the start||| |end/or end ofthe year.|||||||2021|2020| ||||||||2'000|EOOD| |||||||||0.6| |Or R Doyens|||||||0.2|0.7| |Dr Migrby|||||||0,3|1.2| |Dr M Moore||||||||0.1| |Dr F Morsbfto|||||||0.3|1.4| |Dr H Soper||||||||06| |Dr M Stamstopolou|||||||1.7|1.7| |Dr G Watson|||||||0JI|1.2| |Prof M WNs|||||||0.3|| |Dr LWooding||||||||| ## ## ## ## |33|ADDITIONAL PRIOR YEAR CQMPARATIVES|ADDITIONAL PRIOR YEAR CQMPARATIVES|ADDITIONAL PRIOR YEAR CQMPARATIVES|||||||| |---|---|---|---|---|---|---|---|---|---|---| |33a|Conaogdeted
Statement ofFinancial Activities for the year ended 31July|||2020||||||| ||||||unrestricted|Realrhled|Endmved|2020||| ||||||FINdS|Funds|Funds|Total||| ||||Notes||6'000|Eg00|Egto|8'dhl||| ||INCOME AND ENDOWMENTS|FROM:||||||||| ||Charitable
amlvl des:
Teaching, research and resklen0al
Other Trading Income
Oonatlone
and legames||||4,856
111
944|3,798|2,946|4,866
111
7,690||| ||Investments
Investment
Income
Total return elhcatsd
lo Income
Other Income
Total Income||4
33c||539
2,827
309
9,588|I,136
5,019|1,814
(3,963)
799|2,438
15,404||| ||EXPENDITURE ONI|||||||||| ||Charitable
actlvnles:
Teechmg, research end reaidenesl||||7,283|2,246|29|9,657||| ||Generating
funds:
Fundralelng
Tmdlng expend3nn
Investment
management
coals
Total Expenditure||||695
108
433
SAtg||764
793|695
108
~fs
1l,mle||| ||Net Inconlel(Expsndttun)
bsfora gelns||||1 167|2746||3,918||| ||Nel gsirulgoaaes)
on inveatmerea||11,12,18|„|(1,393)|14|(1,743)|(3,127)||| ||Net tncomel(Expendnure)|||||2,7|1,73|78||| ||Transfers
between funds||33d||2,864|(1,864)|(1,000)|||| ||Nat movement
In funds for the year
Fund belanom
brought forward||||2,833
27,337|895
6,112|(2,737)
127,174|791
160,823||| ||Funds carried forward st 31|July||||||||| |33b|The resuns and their assets|end nabgaias|ofthe parent and subsidiaries|for|the year ended 31July2020 wers ss fogows,|||||| ||||||Parent College|Llncoh Coyege
Trading
Ltd|Llncoh
Co3ege|Uncoh 2027
Tlual|Uncoh
Mhhael|Colege
Zgkhe| ||||||||Eleelpdsss|||Fmxl| ||||||||E000|||Egtm| ||Incmns
Fxpennhre
hlvesemrnl
gshlsnosaes
Donetbn to College under gift|akl|||10,875
(9,304)
(3,189)
79|111
(108)
(9)|3,791
(3,721)
(70)|70
(27)||(40)
(27)| ||Result fcl nw totlr|||||||||| ||Total eaaets
Totellebtnlee||||186,395
(34+00)|58
(64)|1.288
(1,267)|||\,707| ||Nsl funds et Ihe end ofyear|||||||||| ## |33c|ststmnent
ofInvestment
Total|Return for the year snded 31July 2020|Return for the year snded 31July 2020||||||| |---|---|---|---|---|---|---|---|---|---| ||||||PonlmAOAI|EIKklwlrlant||EXpaAdabls|Total| |||||||UABPP8ed||Endowment|Endowments| ||||Total return|Trust for||Total|||| ||||rmt BppDsd
2000|Investment
2'000||Return
futo|Total
2'000|CODD|| ||At the bsglnnlng
ofthe year.'
Gift component
ofIhe permanent
Unsppaed
Intel return
Funds nol sot[act to total return|endowment
179||38,877||80,169|38,877
60,159
179||38,877
60,169
iye| ||Expandable
endowment
Total Endowments||179|38,877||6D,159|9II,215|27,959|127,1 4| ||Movements
In the ra porting psrlod:
Gst of endowment
funds
Inveslmenirelum:
lotelimastment
Income|||1,148||1,458|1,148
1,456|1,800|2,948
1,814| ||Inveslm ant return
raayssd
and
unreellsed
gains and losses
Less: investment
menegemsnt
costs||(64)|||(1,484)
[st8)|(1,538)
(816)|(206)
(149)|(1,743)
(764)| ||Other Irensfers
Total|||1,148||(643)|||| ||Unepp0ed
total return
elccatsd lo
Income M Ihe repcning perkd|||||(3,3D3)|(3,303)|(680)|(3,983)| ||Expandable
mldowclsAta
Irsmfsuod||la IBcoms|||(3,303)|(3,303)|(Mg)|(3,992)| ||Ret movements
In reponlng
parlod||(54)|1,148||[3,946)|(2,852)|115|(2,737)| ||At snd ofthe raporgng
period:
Gilt component ofthe permanent
Un spplfad
lolal return
FBIKIBriot anti)acl lo total laban|endowment
126||40,025||56,213|40,026
50,213
125|28074|49,925
M,213
126
28 D74| ||Expandable
endowment||||||||| ||Total Endowments||||||||| ## |33d|Analysis ot Movement
on Funds for the year ended 31July 2020
At|I August
2010
FUOO|Income
COOO||Transfers
6'000|Gainer
Posses)
ECOO|At 31July
2020
6'000| |---|---|---|---|---|---|---|---| ||Endowment
Funds - Permanent
Germrel
Endowment
Mccrgrrrwry
Estele
Rrrfgald Rasawch Tmst Fund
Ps@Shulfrey Bequest
other Fegowshlpa
Potonsky (Hansard)
Student Support
OB ers|68,009
060
1,777
9,716
10,779
178
10,430
S09|026
12
2e
143
1,370
224
4|(349)
pg
(11)
(60)
(123)
(65)
R)|(2,107)
(27)
(60)
(376)
(464)
(01)
(130)|(042)
RI2)
(27)
(146)
(207)
(54)
(150)
(3)|53,650
030
1,S07
9,270
20,275
126
10,358
230| ||Endowment
Funds -Expendable
General
Endowment
asqueste
end legsdss|7,400
10,434|108
1,054|(40)
(m)|(287)
(1,373)|(111)
(158)|7,004
10,704| ||Total Endowment
Funda - College|117049|4,
8||||| ||Endowment
funda held by seh sfdlarl as
Uncob 2027 Trust
uncoln College Mbhael Zlahs Fund|0,377
1,740|70
20|(27)
(40)||(27)|0,600
1,707| ||Total Endowment
Funds - Group|127,174|4,76|793|||| ||Reslrlcted Funds
Income -endowment
funds
Scholwsmp
end grants
Barrow Foundsdwr
Blrhgng
EPA Alfred Street
Other rssldcled
funds|6,703|10
743
4
1,013
1,205|(1,155)
(743)
(2)
(374)|1,136
(1,013)
40|(4)
10|et
e,est| ||Total Restricted Funds -Cogegs and Group|612|3
3|2,274|720||| ||Unrestricted
Funda
General
Fixed asset designated
Other designated
Penston reswvs
Total Unrestrbted
Funds. College snd Group|6,876
22,932
1,164
(2,644)|6,650
115
6,765|(8,627)
(663)
(107)
876
8419|407
5,202
2
5,691|(1,302l
(10)
~1,398|3,024
27,651
1,160
(1,760)
29 987| ||Umeshbtsd
funds hekl by «Osidlsrlas||(5)||||| ||Total Unrestricted
Funds - Group
Total Funds -Group|180,623|67
I6,404|8,418
(11,400|B,est|1,398
~3,12|970
101,414|