## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |K'ey Performance
Indicators|2020/21-|201'9/20|2'018/19'| |---|---|---|---| |Surplus/(deficit)
before gains and losses - f000|(890)|34|91| |Cash (including short term bonds) - E000|7,338|8,570|6,490| |Net Assets -f000|7,354|7,832|8,138| |Current ratio|2.7|2.4|3.7| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |UK Greenhouse
gas|efnissions|and energy use dat|a for the year|to 31July 2021:|| |---|---|---|---|---|---| |||||2020/21|2019/20| |Energy consufnption|used to calculate emissions||(kWh)|2,262,000|2,298,000| |Scope 1:emissions|in metric|tonnes CO2e|||| |Gas consumption||||268|233| |Own transport||||7|8| |Scope 2:emissions|in metric|tonnes CO2e|||| |Purchased
electricity||||232|326| |Scope3:emissions|in metric|tonnes CO2e|||| |Own transport||||14|9| |Business travel
in employee||owned vehicles||22|22| |Total gross einissions - Metric tonnes CO2e||||543|598| |Intensity
ratio —tonnes C02e per student||||0.64|0.71| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Notes|2021|2020| |---|---|---|---|---|---|---|---|---| ||||||||E'000|E'000| |Income||||||||| |Tuition fees and education contracts|||||||8,983|8,659| |Funding
body grants|||||||3,998|3,620| |Other income|||||||1,123|1,128| |Investment
income|||||||94|141| |Total income before endowments||and donations|||||14,198|13,548| |Donations
and endowments|||||||1,051|1,845| |Total income|||||||15,248|15,393| |Expenditure||||||||| |Staff costs|||||||9,642|9,064| |Other operating
expenses|||||||5,116|4,917| |Depreciation||||||11|937|875| |Interest and other finance costs||||||9|444|502| |Total expenditure|||||||16,138|15,359| |(Loss)/Surplus
before other|gains and losses||||||(890)|| |Gain/(Loss) on investments||||||17||(148)| |(Loss)/Surplus
forthe year|||||||(544)|(114)| |Actuarial
gain/(loss)
in respect of pension schemes||||||23||(192)| |Total comprehensive
income/(expenditure)|||forthe year||||(478)|(M6)| |Represented
by:||||||||| |Endowment
comprehensive|income/(expenditure)|||for the year|||366|(154)| |Restricted comprehensive|income/(expenditure)|||for the|year||77|211| |Unrestricted
comprehensive|income/(expenditure)|||forthe year|||(921)|(363)| ||||||||(478)|(306)| |All items ofincome and expenditure||relate to|continuing||activities|||| |||Income and expenditure|Income and expenditure|account||Revaluation|| |---|---|---|---|---|---|---|---| |||||||reserve|Total| |||Endowment|Restricted||Unrestricted||| |||E,'000|E'000||E'000|8000|E'000| |Balance at 1August|2020|2,473|1,326||2,212|1,819|7,831| |Surplus/(Deficit)
for|the year|366|||(987)||(544)| |Other comprehensive|income||||66||66| |Balance at31July 2021||2,840|i,405||1,291|1,$l9|T,SSI| ## |||||||Notes|2021|2020| |---|---|---|---|---|---|---|---|---| ||||||||6'000|f'000| |Non-current
assets||||||||| |Tangible assets||||||11|24,415|24,917| |Heritage assets||||||11|500|500| |Other||||||11|135|135| ||||||||25,050|25,552| |Current assets||||||||| |Trade and other receivables||||||12|146|211| |Investments||||||13|8,189|7,884| |Cash and cash equivalents||||||24|1,367|2,742| ||||||||9,703|10,837| |Creditors: amounts|falling|||||||| |due within one year||||||14|(3,565)|(4,460)| |Net current assets|||||||6,138|6,378| |Total assets less current||liabilities|||||31,187|31,930| |Creditors. amounts|falling due after more than||||one year|15|(14,061)|(15,227)| |Provisions||||||||| |Pension provisions||||||16|(9,539)|(8,836)| |Other provisions||||||16|(234)|(35)| |Total net assets|||||||7,354|7,832| |Restricted Reserves||||||||| |Income and expenditure||reserve|—endowment||reserve|17|2,837|2,475| |Income and expenditure||reserve|- restricted|reserve||18|1,404|1,327| |Unrestricted
Reserves||||||||| |Income and expenditure||reserve|- unrestricted||||1,292|2,210| |Revaluation
reserve|||||||1,819|1,819| ||||||||7,353|7,831| |Share Capital|||||||1|1| |Total Reserves|||||||7,354|7,832| ## |||||Note|2021|2020||| |---|---|---|---|---|---|---|---|---| ||||||E'OM|E'000||| |Cash flow from operating||activities||||||| |(Loss)/Surplus
before other gains and losses|||||(890)|||| |Adjustment
fornon~ah||items||||||| |Depreciation|||||937|875||| |(Gain)/Loss on investments|||||(64)|37||| |Decrease in debtors||||12||||| |(Decrease)/Increase
in creditors||||14,15|(566)|1,263||| |LGPS Pension costs less contributions
payable|||||966|664||| |Capital grant Income||||14|(36)|(169)||| |Adjustment
forinvesting||or financing activities||||||| |Investment
income|||||0|(141)||| |Interest payable|||||320|328||| |Endowment
capital|||||(3)|0||| |Short term Rnandng||||14|0|(585)||| |Net cash inflow from operating
activities|||||728|2,330||| |Cash flows fram irwesting||activities||||||| |Movement
in Investments|||||104|(44)||| |Payments
made to acquire fixed assets|||||(434)|(423)||| |Bond payment to secure|lease||||0|(135)||| |New deposits|||||3|0||| ||||||(327)|(602)||| |Cash flows from financing||activities||||||| |Interest paid|||||(320)|(328)||| |Short term financing|||||0|||| |Repayments
ofamounts|borrowed||||(1,456)|(155)||| ||||||(1pTJ6)|102||| |Increase/(Decrease)
in cash and cash equivaleiits|||in the year||(1375)|||| |Cash and cash equivalents||at beginning ofthe year||19|2,742|913||| |Cash and cash equivalents||at end ofthe year||19|lp367|2,742||| ||||||As at|||As at| |Analysis ofchanges in net debt|||||1Aug 2020|||Sllul2021| ||||||EqX)0|E'000||E'000| |Cash at bank and in hand|||||2,742|(1375)|0|1,367| |Debt due within one year|||||(1.457)|(1,456)|(1,130)|(1,131)| |Debt due within more than one year|||||(8,046)||1,130|(6,916)| ||||||(6,761)|(2,831)|0|(6,680)| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Notes|tothe financial statements|tothe financial statements|tothe financial statements|||| |---|---|---|---|---|---|---| |forthe year ended 31july 2021||||||| ||||||2021|2020| |3|Tuition fees and education||contracts|Notes|E'000|E'000| ||Full-time home and EU|students|||6,594|6,371| ||Full-time international|students|||1,788|1,708| ||Short Course Fees||||601|580| ||||||8,983|8,659| ||||||2021|2020| |4|Funding body grants||||E'000|E'000| ||Higher Education
Funding||Council||3,746|3,485| ||Amortisation
ofDeferred Capital grant||||251|135| ||||||3,998|3,620| ||||||2021|2020| |5|Other income||||f'000|E'000| ||Catering||||115|361| ||Other capita Igrants||||34|34| ||Other income||||974|733| ||||||1.123|1,128| ||||||2021|2020| |6|Investment
income||||E'000|E'000| ||Investment
income on|endowments||17|62|64| ||Other investment
income||||32|77| ||||||94|141| ||||||2021|2020| |7|Donations and endowments||||E'000|E'000| ||New endowments|||17|3|0| ||Donations
with restrictions|||18|672|872| ||Unrestricted
donations||||375|973| ||||||1,051|1,845| |8|Staff costs|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||2021|2020| ||Staff Costs||||||||||f'000|E'000| ||Salaries||||||||||6,944|6,784| ||Social security costs||||||||||614|581| ||Other pension costs||||||||||2,0&4|1,699| ||Total||||||||||9,642|9,064| ||Remuneration|ofdirectors and higher paid||||employees||||||| ||||||||||||2021|2020| ||(a)Directors||||||||||f'000|E'000| ||Salary||||||||||222|220| ||Benefits||||||||||3|2| ||Pension|contributions||to LGPS|||||||37|34| ||||||||||||261|257| ||In addition one director receives remuneration||||||in their capacity as President ofthe Students'||||Union.|| ||(b) Higher paid|employees|||||||||2021|2020| ||Emoluments||ofthe Principal:||||||||E'000|E'000| ||Salary||||||||||152|152| ||Benefits||||||||||3|2| ||Pension|contributions||to LGPS|||||||25|24| ||||||||||||179|178| ||Average
full time equivalent|||staff numbers||by major category, including|||senior post-holders|||| ||||||||||||2021|2020| ||Academic||||||||||100|103| ||Other||||||||||81|84| ||||||||||||181|187| ||Average headcount||equivalent
staff||numbers||by major|category, including||senior post-holders||| ||||||||||||2021|2020| ||Academic||||||||||231|241| ||Other||||||||||154|208| ||||||||||||386|| ||Remuneration|ofthe Principal ofthe|||College expressed|||as||||| ||||||||||||2021|2020| ||Basic salary as|a ratio ofthe||median|basic salary ofall staff||||||4.63|4.50| ||Total remuneration||as a ratio ofthe||total remuneration|||ofall staff|||4.63|4.50| ## ## |||||||2021|2020| |---|---|---|---|---|---|---|---| |9|Interest and other finance costs|||||f'000|f'000| ||Loan interest|||||320|328| ||Net charge on pension scheme||(see note 23)|||125|174| ||||||||502| |||||||2021|2020| |10|Analysis oftotal|expenditure|by|activity||f'000|f'000| ||Academic and related expenditure|||||9,428|8,726| ||Administration
and central services|||||3,139|3,180| ||Premises|||||2,144|2,005| ||Residences, catering and conferences|||||243|429| ||Other expenses|||||1,183|1,020| |||||||16138|15359| ||Other operating|expenses include:|||||| |||||||2021|2020| |||||||f'000|f'000| ||External auditors'|remuneration||in respect ofaudit services||30|29| ||External auditors'|remuneration||in respect ofnon-audit|services|0|3| ||Operating
lease|rentals - other||||158|110| ## ## |||2021|2020| |---|---|---|---| |||f'000|6'000| |Secured loans||173|165| |Unsecured
loans||958|1,292| |Amounts
owed to parent undertaking||10|668| |Other creditors||340|334| |Trade payables||77|32| |Social security and other taxation payable||118|121| |Accruals and deferred|income|1,890|1,847| |||3,565|4,460| ## ||||||||2021|2020| |---|---|---|---|---|---|---|---|---| ||||||||f'000|.E'000| |Deferred capital grant|||||||7,145|7,181| |Secured loans|||||||5,749|5,921| |Unsecured
loan|||||||1,167|2,125| ||||||||14,061|15,227| |Analysis ofsecured and unsecured|||loans:|||||| ||||||||2021|2020| ||||||||f'000|E'000| |Due within one year oron demand|||tNote|14)|||1,131|1,457| |Due between one and two years|||||||1,347|1,131| |Due between two and five years|||||||603|1,739| |Due in five years or more|||||||4,966|5,176| |Due after more than one year|||||||6,916|8,046| |Total secured and unsecured||loans|||||8047|9908| |Secured loan repayable
by 2041'|||||||5,922|6,086| |Unsecured
loan repayable|by 2023||||||2,125|3,417| ||||||||8047|9909| |Included
within the total balance above is||||the following due in more than two years||||| ||||||||2021|2020| |||||Interest|Repayment|Term|E'000|E'000| |Barclays Bank||||||||| |All tranches||||5.349f|Quarterly|33years|5,569|5,921| |||||||(to2041)||| ## ## ||||||Restricted|Unrestricted||Year to31|Year to31| |---|---|---|---|---|---|---|---|---|---| ||||||permanent|permanent||July 2021|July 2020| ||||||endowments|endowments|||| |||||||||Total|Total| ||||||E'000|E'000||E'000|E'000| ||Opening Balances||||||||| ||Capital||||349|1,880||2,228|2,376| ||Accumulated
income||||71||176|247|254| ||||||419|2,056||2,475|2,629| ||New endowments||||||3||| ||Investment
income||||10||52|62|64| ||Expenditure||||P)||(38)|(45)|(71)| ||Increase in market||value ofinvestments||54||291|345|(148)| ||Total endowment||comprehensive|income for the year|57||309|366|(154)| ||Closing Balances||||476|2|364|2,840|2,475| ||Represented
by:||||||||| ||Capital||||403|2,174||2,577|2,228| ||Accumulated||income||74||190|264|247| ||||||476|2,364||2~|2,475| ||Analysis
by type ofpurpose:
Scholarships
and prize funds||||476|2,364||2~|2,475| ||||||476|2,364||2,840|2,475| ||Analysis
by asset||||||||| ||Current asset||investments|||||2,689|2,343| ||Cash and cash||equivalents|||||152|132| |||||||||2+40|2,475| |18|Restricted Reserves||||||||| ||Reserves with restrictions are as|||follows:|||||| |||||||||Year to31|Year to31| |||||||||July 2021|July 2020| |||||||||Total|Total| |||||||||E'000|E'000| ||Opening Balances|||||||1,327|1,115| ||New donations|||||||671|872| ||Expenditure|||||||(594)|(661)| ||Total restricted comprehensive
income for the year|||||||77|211| ||Qosing Balances|||||||1,404|1,327| ## ## ## ## ## ## ||||2021|2020| |---|---|---|---|---| ||||ss pa|%pa| |Price Inflation
(CPI)|||2.90|2.20| |Rate ofincrease
in pensionable||salaries|3.90|3.20| |Discount rate/interest|income|on assets|1,65|1.45| |||2021|||2020|| |---|---|---|---|---|---|---| ||Males||Females|Males||Females| |Pensioner aged 65|21.3||23.7|21.0||23.5| |Active member aged 65|21.8||24.9|21.8||24.4| ## |||||||||||2021|2020| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||E'000|E'000| |Equities||||||||||12,710|9,183| |Government
bonds||||||||||2,162|1,616| |Corporate
bonds||||||||||2,173|1,575| |Property||||||||||1.133|1,010| |Cash||||||||||35|81| |Total||||||||||18,211|13,465| |Analysis ofthe amount|||shown||in|the balance||sheet for LGPS|pensions:||| |||||||||||2021|2020| |||||||||||E'000|E'000| |Scheme assets||||||||||18,211|13,465| |Scheme liabilities||||||||||(27,750)|(22,111)| |Deficit in the scheme —net pension|||||||liability||||| |recorded within|pension|||provisions|||(Note 16)|||(9,539)|(8,646)| |||||||||||2021|2020| |||||||||||E'000|E'000| |Current service cost||||||||||1,293|982| |Past service and|administration||||charges|||||14|13| |Total operating charge||||||||||1,307|995| |Analysis ofthe amount|||charged||to||interest payable/credited||to||| |other finance income for||||LGPS|pensions:||||||| |||||||||||2021|2020| |||||||||||E'000|E'000| |Interest cost||||||||||326|442| |Expected return|on assets|||||||||(204)|(274)| |Net charge to other %nance income||||||||||122|168| |Payments to the|Fund|||||||||(462)|(464)| |Charge to Income and||Expenditure|||||Statement|||966|699| |Analysis ofother|comprehensive|||||income for||LGPS pensions:|||| |||||||||||2021|2020| |||||||||||E'000|E'000| |Gains on assets||||||||||3,314|803| |Experience (loss)|on liabilities|||||||||(3,241)|(1,082)| |Experience (loss)/gain||on||liabilities||(Enhanced||Provision on Termination)||P)|88| |||||||||||66|(192)| ## ## |History ofexperience gains and|History ofexperience gains and|losses- LGPS pensions|losses- LGPS pensions|losses- LGPS pensions||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||||2021|2020|2019|2018|2017| |Difference between actual and||expected return on scheme assets:||||||||| |Amount (fm)||||||3314|803|519.4|769|470| |Experience losses/(gains)|on scheme||liabilities:|||||||| |Amount (fm)||||||(3,241)|(1,082)|(1,782)|214|(1,402)| |||||||||2021||2020| |||||||||f'000||f'000| |Cumulative
actuarial
loss|recognised||as other comprehensive|||income for|LGPS|||| |Cumulative
actuarial
losses recognised|||atthe start ofthe||year|||2,945||2,665| |Cumulative
actuarial
losses recognised|||at the end|ofthe year||||2,872||2,945| |||||||||2021||2020| |||||||||E'OOD||f'000| |Analysis ofmovement
in|dehcit|for LGPS pension||||||||| |De0cit at beginning ofyear||||||||(8,645)||(7,702)| |Contributions
or benefits paid by the College||||||||462||499| |Current service cost||||||||(1,293)||(982)| |Other finance charge||||||||(136)||(181)| |Actuarial
gain/ (loss) recognised||in other comprehensive|||income|||73||(279)| |Deficit at end ofyear||||||||(9,538)||(8,645)| |||||||||2021||2020| |||||||||f'000||f'000| |Analysis ofmovement
In|the present||value of LGPS liabilities|||||||| |Present value ofI.GPS liabilities||atthe start ofthe year||||||22,111||19,640| |Current service cost (net ofmember contnbutions)||||||||1,293||982| |Interest cost||||||||326||442| |Actual member
contributions
(including
notional||||contributions)||||226||187| |Actuarial
loss||||||||3,241||1,082| |Actual benefit payments||||||||554||(222)| |Present value ofLGPS liabilities||at the end ofthe||year||||27,751||22,111| |||||||||2021||2020| |||||||||E'000||E'000| |Analysis ofmovement
in|the fair value ofscheme assets|||||||||| |Fair value ofassets at the|start|ofthe year||||||13,465||11,938| |Expected return on assets||||||||204||274| |Actuarial
gain on assets||||||||3,314||803| |Actual contributions
paid|by College|||||||462||499| |Actual member
contributions
(induding
notional||||contributions)||||226||187| |Actual benefit payments||||||||554||(222)| |Administration
expenses||||||||(14)||(13)| |Fair value ofscheme assets at the end ofthe year||||||||18,211||13,465| |I.GPSassets do not include any ofthe|||College's own financial|||instruments,|or any property|||| |occupied by the College,||||||||||| |||||||||2021||2020| |||||||||E'000||E'000| |Actual return on Scheme|assets|||||||||| |Expected return
on Scheme assets||||||||204||274| |Asset gain||||||||3,314||803| |||||||||3,518||1,076|