|`Contents`|`Page`|
|---|---|
|`1.`<br>`Referenceandadministrativedetails`|`3`|
|`2.`<br>`Chair'sReport`|`4-10`|
|`3.`<br>`Corporatestructure,TrusteesandDirectors`|`11`|
|`4.`<br>`Trustees’Report(incorporatingStrategic andDirectorsReport)`|`12-19`|
|`5.`<br>`Directors’Responsibilities`|`20`|
|`6.`<br>`Objectivesandactivitiesforthepublicbenefit`|`21-25`|
|`IndependentAuditor’sreport`|`24-29`|
|`StatementofComprehensiveIncomeandExpenditure`|`30`|
|`StatementofChangesinReserves`|`31`|
|`BalanceSheet`|`32`|
|`CashFlowStatement`|`33`|
|`Notestothefinancialstatements`|`34-49`|





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|<br>`Courseofstudy`|<br>`2023`|<br>`2022`|<br>`2021`|
|---|---|---|---|
||`%`|`%`|`%`|
|<br>`BMUS`|<br>`72`|<br>`61`|<br>`64`|
|<br>`BAActing`<br> <br>|<br>`100`<br>|<br>`90`<br>|<br>`86`<br>|
|<br>`BADesign`<br> <br>|<br>`85`<br>|<br>`100`<br>|<br>`100`<br>|
|<br>`BAStageManagement`<br> <br>|<br>`91`<br> <br>|<br>`73`<br> <br>|<br>`53`<br> <br>|





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|<br>`KeyPerformanceIndicators`|<br>`2022/23| `|<br> `2021/22| 2020/21`|<br> `2021/22| 2020/21`|
|---|---|---|---|
|<br>`Surplus/(deficit)beforegainsandlosses- £000`|<br>`608| `|<br> <br>`(1,481)`|<br>`(890)`|
|<br>`Cash(includingshorttermbonds)- £000`|<br>`4,955`<br> <br>|<br>`6,564`|<br>`7,338`<br> <br>|
|<br>`NetAssets- £000`|<br>`17,419`<br> <br>|<br>`13,975`|<br>`7,353`<br> <br>|
|<br>`Currentratio`<br>|<br>`2.2`<br> <br> <br>|<br>`1.9`<br>|<br>`2.7`<br> <br> <br>|



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||`2022/23`|`2021/22`|
|---|---|---|
|<br> <br>`Energyconsumptionusedtocalculateemissions(kWh)`|<br> <br>`2,520,255`|<br> <br>`2,591,291`|
|`Scope1:emissionsinmetrictonnesCO2e`|||
|`Gasconsumption`|`253`|`262`|
|<br>`Owntransport`|<br>`12`|<br>`8`|
|`Scope2:emissionsinmetrictonnesCO2e`|||
|<br>`Purchasedelectricity`|<br>`219`|<br>`219`|
|`Scope3:emissionsinmetrictonnesCO2e`|||
|`Owntransport`|`14`|`16`|
|`Businesstravelinemployeeownedvehicles`|`5`|`24`|
|<br>`Totalgrossemissions- MetrictonnesCO2e`|<br>`503`|<br>`529`|
|`Intensityratio— tonnesCO2eperstudent`<br>|`0.58`<br>|`0.65`<br>|



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||`Notes`|`2023`|`2022`|
|---|---|---|---|
|||`£'000`|`£'000`|
|`Income`||||
|`Tuitionfeesandeducationcontracts`<br>`Fundingbodygrants`<br>`Otherincome`<br>`Investmentincome`|`ouuBW`|`10,255`<br>`4,411`<br>`1,966`<br>`273`|`9,730`<br>`3,892`<br>`1,276`<br>`65`|
|`Totalincomebeforeendowmentsanddonations`||<br>`16,905`|<br>`14,963`|
|`Donationsandendowments`|`7`|`3,981`|`1,674`|
|`Totalincome`|<br>|<br> <br>`20,886`|<br> <br>`16,637`|
|`Expenditure`||||
|`Staffcosts`|`8`|`9,055`|`9,578`|
|`Otheroperatingexpenses`||`9,656`|`7,103`|
|`Depreciation`|`11`|`1,123`|`942`|
|`Interestandotherfinancecosts`|`9`|`444`|`495`|
|`Totalexpenditure`|<br>|<br> <br>`20,277`|<br> <br>`18,118`|
|`Surplus/(deficit)beforeothergainsandlosses`||`608`|`(1,481)`|
|`Gainondisposaloffixedassets`||`8`|`2`|
|`Lossoninvestments`|`17`|`(83)`|`(106)`|
|`Surplus/(deficit)fortheyear`||<br>`533`|<br>`(1,585)`|
|`Actuarialgaininrespectofpensionschemes`|`23`|`2,913`|`8,206`|
|`Totalcomprehensiveincome/(expenditure)fortheyear`||<br>`3,446`|<br>`6,621`|
|`Representedby:`||||
|`Endowmentcomprehensiveincome/ (expenditure)`|`17`|`1,621`|`(36)`|
|`Restrictedcomprehensiveincomefortheyear`|`18`|`g99`|`98`|
|`Unrestrictedcomprehensiveincomefortheyear`||`926`|`6,559`|
|||<br>`3,446`|<br>`6,621`|
|`Allitemsofincomeandexpenditurerelatetocontinuingactivities`||||





## 

||`Incomeandexpenditureaccount`|`Incomeandexpenditureaccount`||`Revaluation`||
|---|---|---|---|---|---|
|||||`reserve`|`Total`|
||`Endowment`|`Restricted`|`Unrestricted`|||
||`£'000`|`£'000`|`£'000`|`£'000`|`£'000`|
|`Balanceat1 August2022`|`2,804`|`1,501`|`7,848`|`1,819`|`13,973`|
|`Surplus/(Deficit)fortheyear`|`1,621`|`899`|`(1,987)`|`0`|`533`|
|`Othercomprehensiveincome`|`0`|`0`|`2,913`|`0`|`2,913`|
|`Balanceat31July2023`|<br>`4,425`<br>|<br>`2,400`<br>|<br>`8,774`<br>|<br>`1,819`<br>|<br>`17,418`<br>|





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||`Notes`|`2023`|`2022`|
|---|---|---|---|
|||`£'000`|`£'000`|
|`Non-currentassets`||||
|`Tangibleassets`|`11`|`24,827`|`24,664`|
|`Heritageassets`|`11`|`500`|`500`|
|`Other`|`11`|`135`|`135`|
||<br>|<br> <br>`25,462`|<br> <br>`25,299`|
|`Currentassets`||||
|`Stock`||`10`|`10`|
|`Tradeandotherreceivables`|`12`|`316`|`330`|
|`Investments`|`13`|`7,079`|`7,449`|
|`Cashandcashequivalents`|`19`|`1,015`|`1,453`|
|||<br>`8,420`|<br>`9,242`|
|`Creditors:amountsfalling`||||
|`duewithinoneyear`|`14`|`(3,870)`|`(4,932)`|
|`Netcurrentassets`||<br>`4,550`|<br>`4,310`|
|`Totalassetslesscurrentliabilities`||<br>`30,012`|<br>`29,609`|
|`Creditors:amountsfallingdueaftermorethanone year`|`15`|`(12,409)`|`(12,890)`|
|`Provisions`||||
|`Pensionprovisions`|`16`|`0`|`(2,555)`|
|`Otherprovisions`|`16`|`(185)`|`(189)`|
|`Totalnetassets`|<br>|<br> <br>`17,419`|<br> <br>`13,975`|
|`RestrictedReserves`||||
|`Incomeandexpenditurereserve- endowmentreserve`|`17`|`4,426`|`2,805`|
|`Incomeandexpenditurereserve- restrictedreserve`|`18`|`2,401`|`1,501`|
|`UnrestrictedReserves`||||
|`Incomeandexpenditurereserve- unrestricted`||`8,772`|`7,849`|
|`Revaluationreserve`||`1,819`|`1,819`|
|||<br>`17,418`|<br>`13,974`|
|`ShareCapital`||`1`|`1`|
|`TotalReserves`|<br>|<br>`17,419`<br>|<br>`13,975`<br>|





## 

||`Note`|`2023`|`2022`||||
|---|---|---|---|---|---|---|
|||`£'000`|`£'000`||||
|`Cashflowfromoperatingactivities`|||||||
|`Surplus/(deficit)beforeothergainsandlosses`||`608`|`(1,481)`||||
|`Adjustmentfornon-cashitems`|||||||
|`Depreciation`|`11`|`1,123`|`942`||||
|`Lossoninvestments`||`(83)`|`(106)`||||
|`Profitondisposaloffixedassets`||`8`|`2`||||
|`Decrease/ (Increase)indebtors`|`12`|`14`|`(184)`||||
|`(Increase)/ Decreaseinstock`|`12`|`(0)`|`(10)`||||
|`Increaseincreditors`|`14,15`|`180`|`1,032`||||
|`LGPSPensioncostslesscontributionspayable`||`354`|`1,190`||||
|`Capitalgrantincome`|`14`|`(380)`|`(311)`||||
|`Adjustmentforinvestingorfinancingactivities`|||||||
|`Interestpayable`|`9`|`357`|`336`||||
|`Endowmentincome`|`7`|`(1,675)`|`(48)`||||
|`Netcashinflowfromoperatingactivities`|<br>|<br> <br>`505`|<br> <br>`1,363`||||
|`Cashflowsfrominvestingactivities`|||||||
|`Movementininvestments`||`370`|`741`||||
|`Paymentsmadetoacquirefixedassets`|`ii`|`(1,285)`|`(1,192)`||||
||<br>|<br> <br>`(915)`|<br> <br>`(451)`||||
|`Cashflowsfromfinancingactivities`|||||||
|`Interestpaid`||`(357)`|`(336)`||||
|`Endowmentincome`||`1,675`|`48`||||
|`Deferredcapitalgrantreceivedintheyear`||`0`|`593`||||
|`Repaymentsofamountsborrowed`||`(1,347)`|`(1,131)`||||
||<br>|<br> <br>`(29)`|<br> <br>`(826)`||||
|`(Decrease)/ increaseincashandcashequivalentsintheyear`|<br>|<br> <br>`(440)`|<br> <br>`86`||||
|`Cashandcashequivalentsatbeginningoftheyear`|`19`|`1,453`|`1,367`||||
|`Cashandcashequivalentsatendoftheyear`|`19`|`1,015`|`1,453`||||
|`Movement`|<br>|<br> <br>`(440)`|<br> <br>`86`||||
|`Analysisofchangesinnetdebt`||`Asat`<br>`1Aug2022`|`Cashflows`|`Other`<br>`er`|`Changes`<br> <br>`5`|`Asat`<br>`31Jul2023`|
|||`£'000`|`£'000`||`£'000`|`£'000`|
|`Cashatbankandinhand`||`1,453`|`(440)`||`0`|`1,015`|
|`Debtduewithinoneyear`||`(1,347)`|`1,347`||`(192)`|`(192)`|
|`Debtduewithinmorethanoneyear`||`(5,569)`|`0`||`192`|`(5,378)`|
||<br>|<br>`(5,463)`<br>|<br>`907`<br>|<br>|<br>`0`<br>|<br>`(4,554)`<br>|





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||||`2023`|`2022`|
|---|---|---|---|---|
|`3`|`Tuitionfeesandeducationcontracts`|`Notes`|`£'000`|`£'000`|
||`Full-timehomestudents`||`6,596`|`6,554`|
||`Full-timeinternationalstudents`||`3,095`|`2,522`|
||`ShortCourseFees`||`565`|`654`|
|||<br>|<br> <br>`10,255`|<br> <br>`9,730`|
||||`2023`|`2022`|
|`4`|`Fundingbodygrants`||`£'000`|`£'000`|
||`HigherEducationFundingCouncil`||`4,030`|`3,615`|
||`AmortisationofDeferredCapitalgrant`||`380`|`277`|
|||<br>|<br> <br>`4,411`|<br> <br>`3,892`|
||||`2023`|`2022`|
|`5`|`Otherincome`||`£'000`|`£'000`|
||`Catering`||`836`|`473`|
||`Othercapitalgrants`||`0`|`34`|
||`Otherincome`||`1,130`|`769`|
|||<br>|<br> <br>`1,966`|<br> <br>`1,276`|
||||`2023`|`2022`|
|`6`|`Investmentincome`||`£'000`|`£'000`|
||`Investmentincomeonendowments`|`17`|`90`|`64`|
||`Otherinvestmentincome`||`184`|`1`|
|||<br>|<br> <br>`273`|<br> <br>`65`|
||||`2023`|`2022`|
|`7`|`Donationsandendowments`||`£'000`|`£'000`|
||`Endowmentincome(newendowments)`|`17`|`1,675`|`48`|
||`Donationswithrestrictions`|`18`|`1,627`|`924`|
||`Unrestricteddonations`||`680`|`702`|
||||<br>`3,981`|<br>`1,674`|





|`8`|`Staffcosts`|||
|---|---|---|---|
|||`2023`|`2022`|
||`StaffCosts`|`£'000`|`£'000`|
||`Salaries`|`6,825`|`6,698`|
||`Socialsecuritycosts`|`629`|`617`|
||`Otherpensioncosts`|`1,600`|`2,263`|
||`Total`|`9,055`|`9,578`|



|`Remunerationofdirectorsandhigherpaidemployees`|||
|---|---|---|
||`2023`|`2022`|
|`(a)Directorsandhigherpaidemployees:`|`£'000`|`£'000`|
|`Salary`|`324`|`305`|
|`Benefits`|`3`||
|`PensioncontributionstoLGPS`|`57`|`38`|
||`384`|`344`|
||`2023`|`2022`|
|`(b)EmolumentsofthePrincipal:`|`£'000`|`£'000`|
|`Salary`|`164`|`162`|
|`Benefits`|`3`||
|`PensioncontributionstoLGPS`|`27`|`27`|
||`194`|`191`|
|`RemunerationofthePrincipaloftheCollegeexpressedas`|||
||`2023`|`2022`|
|`Basicsalaryasa multipleofthemedianbasicsalaryofallstaff`|`4.43`|`4.88`|
|`Totalremunerationasa multipleofthemediantotalremunerationtoallstaff`|`5.12`|`4.94`|
|`Numberoffulltimeequivalentstaffduringtheyearbymajorcategory,includingseniorpost-holders`|||
||`2023`|`2022`|
|`Academic`|`116`|`108`|
|`Other`|`60`|`66`|
||`176`|`174`|
|`Inadditiontotheabove,thenumbersoffulltimeequivalentstaffemployedbyPSSandproviding`|`servicesduring`||
|`theyeartoRWCMDbymajorcategory`|||
||`2023`|`2022`|
|`Academic`|`14`|`mm`|
|`Other`|`49`|`22`|
||`63`|`33`|
|`Averageheadcountequivalentstaffnumbersbymajorcategory,includingseniorpost-holders`|||
||`2023`|`2022`|
|`Academic`|`221`|`259`|
|`Other`|`91`|`120`|
||`312`|`379`|



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|||`2023`|`2022`|
|---|---|---|---|
|`9`|`Interestandotherfinancecosts`|`£'000`|`£'000`|
||`Loaninterest`|`357`|`336`|
||`Netchargeonpensionscheme(seenote23)`|`87`|`159`|
|||<br> <br>`444`|<br> <br>`495`|
|||`2023`|`2022`|
|`10`|`Analysisoftotalexpenditurebyactivity`|`£'000`|`£'000`|
||`Academicandrelatedexpenditure`|`12,418`|`10,600`|
||`Administrationandcentralservices`|`3,670`|`3,751`|
||`Premises`|`2,716`|`2,326`|
||`Residences,cateringandconferences`|`418`|`230`|
||`Otherexpenses`|`1,055`|`1,212`|
|||<br> <br>`20,277`|<br> <br>`18,119`|
||`Otheroperatingexpensesincluded:`|||
|||`2023`|`2022`|
|||`£'000`|`£'000`|
||`Externalauditor'sremunerationinrespectofauditservices`|`34`|`24`|
||`Externalauditor'sremunerationinrespectofnonauditservices`|`5`|`5`|
||`Operatingleaserentals- other`|`172`|`167`|





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|`11`<br>`TangibleAssets`|||||||
|---|---|---|---|---|---|---|
||`FreeholdLandand`|`LeaseholdLand`|`Plantand`|`Fixtures,Fittings`|||
||`Buildings`|`andBuildings`|`Machinery`|`andEquipment`|`Total`||
||`£'000`|`£'000`|`£'000`|`£'000`||`£'000`|
|`Costorvaluation`|||||||
|`At1 August2022`|`27,893`|`2,318`|`4,237`|`1,461`||`35,909`|
|`Additions`|`0`|`0`|`1,086`|`199`||`1,285`|
|`Disposals`|`0`|`0`|`(53)`|`0`||`(53)`|
|`At31July2023`|<br> <br>`27,893`|<br> <br>`2,318`|<br> <br>`5,269`|<br> <br>`1,661`|<br>|<br> <br>`37,141`|
|`Accumulateddepreciation`|||||||
|`At1 August2022`|`6,144`|`1,313`|`2,653`|`1,135`||`11,246`|
|`Chargefortheyear`|`469`|`21`|`542`|`90`||`1,123`|
|`Disposals`|`0`|`0`|`(53)`|`0`||`(53)`|
|`At 31July2023`|<br> <br>`6,612`|<br> <br>`1,334`|<br> <br>`3,142`|<br> <br>`1,227`|<br>|<br> <br>`12,315`|
|`Netbookvalue`|||||||
|`At31July2023`|<br>`21,281`|<br>`984`|<br>`2,127`|<br>`434`||<br>`24,827`|
|`At31July2022`|`21,749`<br>|`1,005`<br>|`1,584`<br>|`326`<br>||`24,664`<br>|



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|`12`|`Tradeandotherreceivables`||||
|---|---|---|---|---|
||||`2023`|`2022`|
||||`£'000`|`£'000`|
||`Amountsfallingduewithinoneyear:`||||
||`Tradereceivables`||`154`|`265`|
||`Otherreceivables`||||
||`Prepaymentsandaccruedincome`||`126`|`59`|
||`Amountsduefromparentundertaking`||`34`||
||||`316`|`330`|
||`Theamountsduefromparentundertakingareinterestfreeandrepayableondemand.`||||
|`13`|`Investments`||||
||||`2023`|`2022`|
||||`£'000`|`£'000`|
||`Shortterminvestmentinshares`||`3,140`|`2,338`|
||`Shorttermbonds`||`3,940`|`5,111`|
||||`7,079`|`7,449`|
|`14`|`~—sCreditors`<br>`:amountsfallingduewithinoneyear`||||
||||`2023`|`2022`|
||||`£'000`|`£'000`|
||`Securedloans`||`192`|`180`|
||`Unsecuredloans`|`15`||`1,167`|
||`Amountsowedtoparentundertaking`|`22`|`57`|`137`|
||`Othercreditors`||`182`|`501`|
||`Tradepayables`||`464`||
||`Socialsecurityandothertaxationpayable`||`160`|`111`|
||`Accrualsanddeferredincome`||`2,815`|`2,836`|
||||`3,870`|`4,932`|



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||`2023`|`2022`|
|---|---|---|
||`£'000`|`£'000`|
|`Otherincome`|`412`|`228`|
|`Deferredcapitalgrants(seenotes4 and5)`|`380`|`311`|
||`792`|`539`|





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|||||`2023`|`2022`|
|---|---|---|---|---|---|
|||||`£'000`|`£'000`|
|`Deferredcapitalgrant`||||`7,031`|`7321`|
|`Securedloans`||||`5,378`|`5,569`|
||||<br>|<br> <br>`12,409`|<br> <br>`12,890`|
|`Analysisofsecuredloans:`||||||
|||||`2023`|`2022`|
|||||`£'000`|`£'000`|
|`Duewithinoneyearorondemand(as`|`perNote14)`|||<br>`192`|<br>`1,347`|
|`Duebetweenoneandtwoyears`||||`201`|`192`|
|`Duebetweentwoandfiveyears`||||`665`|`634`|
|`Dueinfiveyearsormore`||||`4,512`|`4,743`|
|`Dueaftermorethanoneyear`|||<br>|<br> <br>`5,378`|<br> <br>`5,569`|
|`Totalsecuredandunsecuredloans`|||<br>|<br> <br>`5,569`|<br> <br>`6,916`|
|`Securedloanrepayableby2041*`||||`5,569`|`5,749`|
|`Unsecuredloanrepayableby2023`||||`0`|`1,167`|
||||<br>|<br> <br>`5,569`|<br> <br>`6,916`|
|`Includedwithinthetotalbalanceaboveisthefollowingdueinmorethantwoyears`||||||
|||||`2023`|`2022`|
||`Interest`|`Repayment`|`Term`|`£'000`|`£'000`|
|`BarclaysBank`||||||
|`Alltranches`|`6.33%`|`Quarterly`|`33years`|`5,177`|`5,569`|
||||`(to2041)`<br>|||



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|||`Pensionscheme`|`DefinedBenefit`|`OtherProvisions`|`Total`|
|---|---|---|---|---|---|
|||`provisionunder`|`EnhancedProvision`|||
|||`FRS102`||||
|||`£'000`|`£'000`|`£'000`|`£'000`|
|`At1 August2022`||`2,555`|`154`|`35`|`2,744`|
|`Reductioninyear`||`0`|`(4)`|`0`|`(4)`|
|`Reductioninyear`|`(seenote23)`|`(2,555)`|`0`|`0`|`(2,555)`|
|`At31July2023`||<br>`0`<br>|<br>`150`<br>|<br>`35`<br>|<br>`185`<br>|





||`Restricted`|`Unrestricted`|`Yearto31`|`Yearto31`|
|---|---|---|---|---|
||`permanent`|`permanent`|`July2023`|`July2022`|
||`endowments`|`endowments`|||
||||`Total`|`Total`|
||`£'000`|`£'000`|`£'000`|`£'000`|
|`OpeningBalances`|||||
|`Capital`|`386`|`2,133`|`2,519`|`2,577`|
|`Accumulatedincome`|<br>`76`|<br>`210`|<br>`286`|<br>`264`|
||<br>`463`|<br>`2,343`|<br>`2,805`|<br>`2,840`|
|`Endowmentincome`|`1,675`|`-`|`1,675`|`48`|
|`Investmentincome`|`23`|`67`|`90`|`64`|
|`Expenditure`|`(6)`|`(55)`|`(60)`|`(42)`|
|`Decreaseinmarketvalueofinvestments`|<br>`(14)`|<br>`(69)`|<br>`(83)`|<br>`(106)`|
|`Totalendowmentcomprehensiveincomefortheyear`|<br>`1,677`|<br>`(57)`|<br>`1,621`|<br>`(36)`|
|`ClosingBalances`|<br> <br>`2,140`|<br> <br>`2,286`|<br> <br>`4,426`|<br> <br>`2,805`|
|`Representedby:`|||||
|`Capital`|`2,047`|`2,063`|`4,111`|`2,519`|
|`Accumulatedincome`|<br>`93`|<br>`223`|<br>`315`|<br>`286`|
||<br> <br>`2,140`|<br> <br>`2,286`|<br> <br>`4,426`|<br> <br>`2,805`|
|`Analysisbytypeofpurpose:`|||||
|`Scholarshipsandprizefunds`|<br>`2,140`|<br>`2,286`|<br>`4,426`|<br>`2,805`|
||<br> <br>`2,140`|<br> <br>`2,286`|<br> <br>`4,426`|<br> <br>`2,805`|
|`Analysisbyasset`|||||
|`Currentassetinvestments`|||`4,035`|`2,583`|
|`Cashandcasheguivalents`|||`391`|`222`|
||||`4,426`|`2,805`|



## 

||`Yearto31`|`Yearto31`|
|---|---|---|
||`July2023`|`July2022`|
||`Total`|`Total`|
||`£'000`|`£'000`|
|`OpeningBalances`|`1,501`|`1,404`|
|`Newdonations`|`1,627`|`672`|
|`Expenditure`|`(727)`|`(575)`|
|`Totalnetrestrictedcomprehensiveincomefortheyear`|`899`|`97`|
|`Closingbalances`|`2,401`|`1,501`|





## 

|`RestrictedReserves(continued)`|||
|---|---|---|
||`2023`|`2022`|
||`£'000`|`£'000`|
|`Analysisofotherrestrictedfunds/donationsbytypeofpurpose:`|||
|`Scholarshipsandprizefunds`|`685`|`596`|
|`Specificprojects`|`32`|`46`|
|`Other`|`10`|`30`|
||`727`|`672`|



|`Cash`|`and`|`cash`|`equivalents`|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||`At`|`1`|`August`|`Cash`|`At`|`31July`|
|||||||`2022`|`Flows`||`2023`|
|||||||`£'000`|`£'000`||`£'000`|
|`Cash`|`and`|`cash`|`equivalents`|||`1,453`|`(440)`||`1,015`|
|||||<br>|<br>|<br> <br>`1,453`|<br> <br>`(440)`|<br>|<br> <br>`1,015`|



||`2023`|`2022`|
|---|---|---|
||`£'000`|`£'000`|
|`Payableduringtheyear`|`172`|`167`|
|`Futureminimumleasepaymentsdue:`|||
|`Notlaterthan1 year`|`177`|`172`|
|`Laterthan1 yearandnotlaterthan5 years`|`764`|`742`|
|`Laterthan5 years`|`2,882`|`3,150`|
|`Total leasepaymentsdue`|`3,824`|`4,064`|



## 

## 



## 

## 

## 

||`2023`|`2022`|
|---|---|---|
||`%pa`|`%pa`|
|`PriceInflation(CPI)`|`2.85`|`2.75`|
|`Rateofincreaseinpensionablesalaries`|`3.85`|`3.75`|
|`Discountrate/interestincomeonassets`|`5.10`|`3.50`|



|||`2023`|||`2022`||
|---|---|---|---|---|---|---|
||`Males`||`Females`|`Males`||`Females`|
|`Pensioneraged65`|`20.9`||`23.6`|`21.4`||`23.8`|
|`Activememberaged45`|`21.8`||`24.7`|`21.9`||`24.9`|





## 

||`2023`|`2022`|
|---|---|---|
||`£'000`|`£'000`|
|`Equities`|`12,208`|`11,007`|
|`Governmentbonds`|`1,685`|`1,968`|
|`Corporatebonds`|`2,067`|`2,158`|
|`Property`|`1,233`|`1,392`|
|`Other`|`156`|`70`|
|`Cash`|`17`|`95`|
|`Total`|`17,366`|`16,690`|
|`AnalysisoftheamountshowninthebalancesheetforLGPSpensions:`|||
||`2023`|`2022`|
||`£'000`|`£'000`|
|`Fairvalueoffundassets`|`17,366`|`16,690`|
|`Presentvalueofdefinedbenefitobligation`|`(16,146)`|`(19,245)`|
|`Pensionassetbeforeadjustments`|`1,221`|`(2,555)`|
|`Effectofassetceiling(FRS102para28.22)`|`(1,221)`||
|`Netpensionasset/(liability)recognisedonBalanceSheet`||`(2,555)`|
|`ManagementhaveusedtheIAS19approachtocapthesurplusto£Nil(acceptableunderFRS 102)`|||
||`2023`|`2022`|
||`£'000`|`£'000`|
|`Currentservicecost`|`682`|`1,479`|
|`Pastserviceandadministrationcharges`|`12`|`14`|
|`Totaloperatingcharge`|`694`|`1,493`|
|`Analysisoftheamountchargedtointerestpayable/creditedto`|||
|`otherfinanceincomeforLGPSpensions:`|||
||`2023`|`2022`|
||`£'000`|`£'000`|
|`Interestcost`|`672`|`460`|
|`Expectedreturnonassets`|`(589)`|`(304)`|
|`Netchargetootherfinanceincome`|`82`|`156`|
|`PaymentstotheFund`|`(413)`|`(447)`|
|`ChargetoIncomeandExpenditureStatement`|`364`|`1,202`|
|`AnalysisofothercomprehensiveincomeforLGPSpensions:`|||
||`2023`|`2022`|
||`£'000`|`£'000`|
|`(Losses)/ Gainsonassets`|`(200)`|`(2,253)`|
|`ExperienceGain/ (Loss)onliabilities`|`4,339`|`10,438`|
|`ExperienceGain/ (Loss)onliabilities(EnhancedProvisiononTermination)`|`(6)`<br>`4,133`|`20`<br>`__8205.`|





## 

||`2023`|`2022`|`2021`|`2020`|`2019`||
|---|---|---|---|---|---|---|
|`Differencebetweenactualandexpectedreturnonschemeassets:`|||||||
|`Amount(£m)`|`(200)`|`(2,253)`|`3314`|`803`|`519`||
|`Experiencelosses/(gains)onschemeliabilities:`|||||||
|`Amount(£m)`|`4,339`|`10,438`|`(3,241).`|`(1,082)`|`—(1,782)`||
||||`2023`||`2022`||
||||`£'000`||`£'000`||
|`Cumulativeactuariallossrecognisedasothercomprehensiveincome`|`forLGPS`||||||
|`Cumulativeactuarial(gains)/ lossesrecognisedatthe startoftheyear`|||`(5,314)`||`2,872`||
|`Cumulativeactuarial(gains)/ lossesrecognisedattheendoftheyear`|||`(9,454)`||`(5,314)`||
||||`2023`||`2022`||
||||`£'000`||`£'000`||
|`Analysisofmovementin(deficit)/ surplusforLGPSpension`|||||||
|`Deficitatbeginningofyear`|||`(2,555)`||`(9,538)`||
|`ContributionsorbenefitspaidbytheCollege`|||`413`||`447`||
|`Currentservicecost`|||`(682)`||`(1,479)`||
|`Otherfinancecharge`|||`(95)`||`(170)`||
|`Actuarialgainrecognisedinothercomprehensiveincome`|||`4,139`||`8,186`||
|`Surplusatendofyear`|||`1,221`||`(2,555)`||
|`Effectofassetceiling(FRS102para28.22)`|||`(1,221)`|||`-`|
|`NetpensionassetrecognisedonBalanceSheet`|||`-`||`(2,555)`||
||||`2023`||`2022`||
||||`£'000`||`£'000`||
|`AnalysisofmovementinthepresentvalueofLGPSliabilities`|||||||
|`PresentvalueofLGPSliabilitiesatthestartoftheyear`|||`19,247`||`27,751`||
|`Currentservicecost (netofmembercontributions)`|||`682`||`1,479`||
|`Interestcost`|||`672`||`460`||
|`Actualmembercontributions(includingnotionalcontributions)`|||`209`||`217`||
|`Actuarial(gain)/ loss`|||`(4,339)`||`(10,438)`||
|`Netbenefitspaid`|||`(323)`||`(222)`||
|`Pastservicecosts`|||`-`||`-`||
|`PresentvalueofLGPSliabilitiesattheendoftheyear`|||`16,146`||`19,247`||
||||`2023`||`2022`||
||||`£'000`||`£'000`||
|`Analysisofmovementinthefairvalueofschemeassets`|||||||
|`Fairvalueofassetsatthestartoftheyear`|||`16,690`||`18,211`||
|`Expectedreturnonassets`|||`589`||`304`||
|`Actuarial(loss)/ gainonassets`|||`(200)`||`(2,253)`||
|`ActualcontributionspaidbyCollege`|||`413`||`447`||
|`Actualmembercontributions(includingnotionalcontributions)`|||`209`||`217`||
|`Netbenefitspaid`|||`(323)`||`(222)`||
|`Administrationexpenses`|||`(12)`||`(14)`||
||||`17,366`||`16,690`||
|`LGPSassetsdonotincludeanyoftheCollege'sownfinancialinstruments,orany`||`property`|||||
|`occupiedbytheCollege.`|||||||
||||`2023`||`2022`||
||||`£'000`||`£'000`||
|`ActualreturnonSchemeassets`|||||||
|`ExpectedreturnonSchemeassets`|||`589`||`304`||
|`Assetloss`|||`(200)`||`(2,253)`||
||||`390`||`(1,949)`||
|`EstimatedcontributionsforLGPSintheFinancial Year2023-24is£436kassuming`||`95%membertakeup.`|||||