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2022-07-31-accounts

Governing
Body, Officers		 Governing
Body, Officers		 and Advisers and Advisers Page 1
Report ofthe Governing Body Page 6
Auditor's
Report		 Page 17
Statement
of		 Accounting Policies Page 21
Consolidated Statement of Financial Activities Page 26
Consolidated and College Balance Sheets Page 27
Consolidated Statement of Cash Flows Page 28
Notes to the Financial Statements P.age 29

m E o g
E g
0 E		 CA Q
p		 g
Q)
U 0
U		 E OU E o
Lady Elish Angiolini
LT DBEPC
QC (Principal)
Professor AW Moore
Professor GSGarnett
Dr TMKuhn
Professor KR Plunkett Retired 30September 2021
Professor M BGiles
Professor JSGetzler
Professor L LHong
Professor G A Stellardi
Professor PJ Mitchell
Professor P D McDonald
Mrs SJVainker
Professor SR Duncan
Professor R KNlestbrook Retired 30September 2021
Resigned Trusteeship 14
Professor S.Paseta January 2022; appointed as
Senior Resarch Fellow
Professor RG Grainger

Professor CJ Stevens
Professor M R Macnair
Professor C Wilson
Professor TC BRood
Professor A Harnden
Dr N E R Perkins
Professor TC Powell
Professor J Martin
Professor D P Marshall
Professor R Perera
Mr P R C Marshall
Professor EE Leach
Professor 6 Loutzenhiser
Professor 8J Conway
Professor R Baker
Professor E Mann
Dr TSanders
Dr J Parkin
Professor E M Husband
Professor C Ballentine
Professor D Biro

External Committee g)
m
LL		 6)
E
0		 Q
e Eo		 M
CL		 Q
(D
0		 C0
Io
s		 g
'E
O
Members U
Mr T P Roberts Appointed 29 April 2015;
Last renewed
16June 202'l
Mr J Digges Appointed 29 April 20"l5;
Last renewed
15June 2022
Ms R Emerson Appointed 13June 2018;
renewed 16June 202'I
Dame Frances Cairncross Appointed 1 Apiil 2018;
Renewed 16June 2021
Dr TPower Appointed 1 April 2018;
Renewed 16June 2021
Mr K Knott Appointed 1 March 2020;
Renewed 15June 2022

Lady Elish Angiolini LT DBEPC QC Principal
Professor JSGetzler Vice-Principal
Mr G Prior Bursar
Professor R Vilain Senior Tutor
Mr Jeremy Weeks College Accountant
Mr Bruce Lawrence Director of Development
Mrs Rahele Mirnateghi Domestic Bursar

Unrestricted Restricted Endowed 2022 2021
Funds Funds Funds Total Total
Notes F'000 E'000 E'000 6'000 F000
INCOIIE AND ENDOIINIENTS FROII:
Charitable
activities:
Teaching, research and residential 7,948 7,948 6,660
Other Trading Income 679 679 104
Donations
and legacies		 356 737 1,264 2,856
Investments
Investment
income		 4 1,893 1,653 3,582 2,587
Total return allocated to income 13. 1,203 (1,203)
Other income 5 84
Total income 12,163 773 13557 12,781
EXPENDITURE ON:
Charitable
activities:
Teaching, research and residential 13,884 197 14,081 11,244
Generating
funds:
Fundraising 566 566. 498
Trading expenditure 640 640 544
Investment
management
costs		 193 282 275
Total Expenditure 15,283 15,569 12,561
Net Income/(Expenditure) before gains (3,120) 532 (2,012)
Net gains/(losses)
on		 investments (3,598) (30) (1,446) (5,074) 12,890
Net income/(Expenditure) (6,718) 546 (914) (7,086) 13,110
Transfers between funds. 18 1„2?6 124 (1,400)
Net movement
in funds		 for the year (5,442) 670 (2,314) (7,086) 13,1 "IO
Fund balances brought
forward		 34,940 5,182 42,362 82,484. 69,374
Funds carried forward at31July 29,498 5,852 40,048 75,398 82,484

2022 2021 2Q22 2021
Group Group College College
Notes 6'000 E'000 6'000 F000
FIXEDASSETS
Tangible assets 10 21,912 22,990 21,912 22,990
Other Investments 11 101&639 106,491 101„639 106,491
Total Fixed Assets 123,551 129,461 123,551 129,481
CURRENT ASSETS
Stocks 153 150 153 150
Debtors 2,046 1,875 2;014 1,844
Cash at bank and in hand 5,245 5,504 5,238 5,502
Total Current Assets 7,444 7,529 7,405 7,496
LIABILITIES
Creditors: Amounts falling due within one year 15 2,516 2,611 2,453 2,560
NET CURRENT ASSETS/(LIABILITIES) 4,929 4,918 4,952 4,936
TOTAL ASSETS.LESS CURRENT LIABILITIES 128,480 134,399 128,503 134,417
CREDITORS: failing due after more than one year 50,2SS 50,502 50,288 50,502
Provisions for liabilities and charges
NET ASSETS/(LIABILITIES) BEFOREPENSION ASSET OR
LIABILiTY 78,192 83,897 7.8,215 83,915
Defined benefit pension scheme liability 2,794 1,413 1,413
TOTAL NET ASSETS/(LIABILITIES) 75,398 82,484 75,421 82,502
FUNDS OF THE COLLEGE 18
Endowment
funds		 40,048 42,362 40,048 42,362
Restricted funds 6,852 5,182 5,852 5,182
Unrestricted
funds
Designated
funds		 6,763 8,534 6&763 8,534
Fixed asset designated fund 21,413 22,221 21,413 22,221
General funds 4,116 5,598 4,139 5,616
Pension reserve (2,794) .(1,413) (2,794) (1,413)
75,398 82,484 76,421 S2,502

2022 .2021
Notes 6'000 POOD
Net cash provided
by (used in) operating		 activities (33491) (1,704)
Cash flows from investing
activities
Oividends,
interest and rents from investments		 3,562 24587
Proceeds from the sale ofproperty,
plant and equipment		 5
Purchase ofproperty,
plant and equipment		 (33) (146)
Proceeds from sale of investments
Purchase ofinvestments		 241
~463		 44,124
~44,655
Net cash provided
by (used in) investing		 activities 3 327 1,920
Cash flows from financing
activ'ities
Repayments
of borrowing		 (266) (267)
Receipt ofendowment 171 322
Net cash provided
by (used in) financing		 activities (95) 55
Change
in cash and cash equivalents
in the		 reporting period (259)
Cash and cash equivalents
at the beginning		 ofthe
reporting
period		 5,504 5,235
Change
in cash and cash equivalents
in		 the reporting period (259)
Cash and cash equivaients
at the end of		 the reporting
period 25 5,245 5,504

DONATIONS
AND		 DONATIONS
AND		 LEGACIES LEGACIES
2022 2D21
E'000 E'ODO
Donations and Legacies
Unrestricted
funds		 356 1.658
Restdcted funds 737 876
Endowed funds 171 322
1,264
INCOME FROM OTHER TRADING ACTIVITIES
2022 2021
2000 E'000
Subddisry company trading income 676 104
INVESTMENT INCOME
2022 2021
E"000 E,'OOD
Unmsfricfed
funds
Other propsriy income 21
Giber inveslmsnl income '1,8SS 1,870
Bank interest 6
1,863 1,871
Rsalricrsd funtfs
Other investment income
36
Endowedfunds
Other investmenl income 1,853 .701
701
Total Investment income 3,582 2,587
OTHER INCOME
2022 2021
E'000 E'ODO
Other Income 574
84 574
238k {2021:5450k) relates togovernmertl grani income received through Ihs Coronavirus Job Releniion Scheme.

6 ANALYSIS OF EXPENDITURE
2022
f000		 2021
f'DDD
Charitable
expenditure
Direct staff costs allocated to:
Teaching, research and residential 5,673 5,475
Other dired cosis agocaied to:
Teaching, research and residential 4,272 2,966
Support and governance
coals agocaled to:
Teaching, research and residential 4,136 2,801
Total charitabls
expenditure		 14,081 11,244
Expenditure
on raising furids
Direct staff costs allocated to:
Fundraising 378 339
Trading expenditure 142 130
Invesimsnt
management		 costs
Other dirscl costs allocated to:
Fundraising 108 66
Trading expenditure 234 141
Invsstmsnt
management		 costs
Support and governance
costs allocated to:
Fundrallklng		 79 93
Trading expenditure 264 2?3
Investmsnl
management		 costs 282 2?5
Total expenditure
on raising		 funds 1,488 1,317
Total expenditure
The 2022 resources expended otf15569k(2021:f12
restricte funds and fBBk(2021:f89k) from endowed		 563k) represented f15572k(2021:f12336k) from unrestricted
funds.		 funds, f19?k(2D21:f138k) from

9 STAFFCOSTS
2022 2021
The aggregate
staff costs		 for fhe year were as follows. R'ODO ROOD
Salaries and wages 5,233 5,019
Social security costs 421 421
Pension costs:
Delined benelil schemes 737 690
Defined contribution schemes 'l17 92
Movsmsnt
in pension		 provisions 1,369 (27)
7,877 6,195
Ths average number of employees ofthe College, exduding Trustees,
on a full lime equivalent basis wes as follows. 2022 2021
Tuition snd research 38 25
College residential 82 84
Fundraislng 6 6
Support 13 13
Total 139
The average number of employed College Trustees during Ihe 'year was as follows.
University
Lecturers		 27 28
CUF Lecturers 9 9
Other teaching
and research		 2 3
Other 6 2
Total 42
Redundancy
payments
sre accounted		 for in Ihe period in which Ihe employee was informed ot the decision. Where redundancy costs are uncertain,
ihe figure		 in the
accourits represents s best estimate. These costs wig ba mat fmm unrestricted funds.
The fotloviing
informagon		 relates to the employees of the Cogsge axduding Ihe Cogsge Trustees. Details of Ihs rsniuneratlon and reimbursed expenses of Ihe College
Trustees Is Indudsd asa sepsrale nots in these finandal statements.
The number of employees (exduding Ihe college Truitees) during tile year whose gross psy and benefits (excluding employer Nl snd pension corltributlons) fell
viilhin ths fogowtng bands was:
2022 2021
R60,001-R70,000
RTD,OOI-RBD,MD
R90,001-5100,000
The nuinber of the above employees viith retirement benefits accruing was as follows:
In defined benefits schemes
R'ODO R'000
The Gogsge contributions to defined contribution pen~ion schemes totalled s

10 TANGIBLE FIXEDASSETS
Group .Freehold Rxlu'res,
land snd iitgngs and
bugdlngs equipment Total
POOO 2'000 5'000
Cast
At start ofyear 39,005 3,401 42,406
Additions (58) 33
Dlspossls
Atend of year 39,952 3,467 42,438
Depreciation
and impairment
At start ofyear 16,479 2,937 19,416
Depreciation
charge for the year		 987 174 1,111
Depredsttan
on disposals
impairment
At end ofyear '17,416 3111 20,527
Nst book value
At end ofyear 21,636 376 21,912
At start ofyear 22,526 464 22,990
College Freehold Fixlurss,
lend snd fltBngs and
buildings equipmsnt Total
K'000 COOQ E'000
Cast
At start al year BS,005 3,401 42,406
Additions f58)
Dispossls
At end ofyear 36,852 3,467 42,439
Depreciation
and impairment
At start ofyear 16,479 2,987 'l9,416
Charge for the year 937 'i74 1,111
On dispossls
Irnpainnent
At e'nd ofyear ill 7
Net book vaius
At end ofyear 21,536 3?6 21,812
At start af.year l2.526 464 22,990

The Truslses have adopted a duly duly sulhadsed sulhadsed sulhadsed policy oftotal return oftotal return oftotal return accoungng for Ihs College investmhnt returns
with effectfrom
'l5 May 2002.The idvestment		 returns
with effectfrom
'l5 May 2002.The idvestment		 returns
with effectfrom
'l5 May 2002.The idvestment		 returns
with effectfrom
'l5 May 2002.The idvestment		 returns
with effectfrom
'l5 May 2002.The idvestment		 return
ta be applied ss income Is calculated as3.?7%(202'I:3?796)(plus costs) of ths average ot ths yesrmnd values ofthe relevant inveslmenis In each of Ihe last 5
years. The preserved
(frozen)		 value ofthe invested endowmenl capildl represents Bsopen market value ai31July 2002 together vrith all subsequent endowments
valued atdate ofgift
Pemianent Endowment Expandable Total
Unappfisd Endowment Endowments
Trusl for Total
investment Return Tatal
E000 5'000 f.'000 E'000 5'000
At the beginning afths ysa'r;
Gift component
at Ihe
permanent
endow'ment		 15,251 15,251 15,25'I
Unappgsd
total return		 13,515 13;515 13,515
Expendable
endowment		 13,598 13,596
Total Endowments 15,251 13,515 25,766 13,598 49,382
Movements
in the reporting		 period:
Gift ofendowment
funds		 171 171 'l71
Recauprnsnl
ofbust far Investment
Agocatian
from Irust'for investment
Invastmsnt
return: latal Inveslmsnt
income
lnvestmsnt
reluct realised snd unrssfised
Less. Invesimenl
management
casts
Other transfers
Total		 gains and losses 173 1,114.
(992)
132		 1,114
(982)
173
4?S		 539
(454)
(89)
~$1
(205)		 1;653
(1,446)
(89)
~1
271
Unapplied
total return
allocated lo income in'Ihe reporgng
Expendable
endawrnents
transferred
lo Income		 period (769) P69)
P69)		 ~IAI
(1,816)		 P69)
~I, I I
(2,585}
Net movements
In reparting		 period (637) (293) (2,021) (21314)
At end oftha reporting
pmiod;
Gilt component
ofthe
permanent
endowment		 15,595 15,595 15,595
Unapplied
lolal return		 12,878 12,878 12,878
Expendable
sndoWment
Tatal Pndowinents		 llfsH iriir ~orr 11,575
rrar		 11,575
,0
A comparative
nots far2020/21		 figwes Isshown in note 31.a
14 OESTORS
2022 2021 2022 2021
Group Group College College
5'000 5000 E'000
Amounts
falling due vrllhin one year.
Trade deblom 907 538
Amaunts
owed by Group undertakings		 405
Loans repayable
within one year		 13 17 13 17
Prepsyments
and accrued income		 1,347 1,238 1,345 1,938
Olhsr deblors 6 7 8 7
Amounts
fsging due altar more than'one		 year:
Loans 38 38
21045 1,875 2,014 1,844

15 CREDITORS; falling due CREDITORS; falling due CREDITORS; falling due CREDITORS; falling due viithin one viithin one year
2D22 2021 2022 2021
Group Gmup College College
E'000 E'000 E'000 BOOO
Bsnklosns 216 26T 215 287
Trade creditom 710 697 707 687
Amounts owed to Group underiakings 25
Taxation and social sscuriiy 132 121 132 120
Acc&uals and deferred'income 1,008 1,090 't&002 1,082
Other creditors 450 438 397 389
2,515 2,811 2,463 2,580
Defs I co s d de vii cc als d Ihs co
Balance brought forward 1,244 1,054 1,034 844
Vacation Residence Students Allowances 14 14 14 14
Graduate Rents 33 33 33 33
Visitors 31 31 31 31
CFF 82 62 82 82
Other 30 30 60 30
Balance carried fonvsrd 1,434 1,244 1,224 1,034
16 CREDITORS: fsglng due after more than one year
2022 2021 '2022 2021
Gl'oup Group College College
E'OOD E'DOO E'OOD E'000
Bank loans 288 502 .288 502.
Bond BO,ODO 50,00D 50,0DO 60,0DD
50&288 50,502

ANALYSIS OF'SIOVEIIIENTS ON ANALYSIS OF'SIOVEIIIENTS ON ANALYSIS OF'SIOVEIIIENTS ON ANALYSIS OF'SIOVEIIIENTS ON FUNDS
At 1 August Incoming Resources Gainer At 31July
2021 resources expended Tranbfera (losses) 2022
.22000 EOOO EOOO BOOB EOOD 84000
Endowment
Funds		 - Permanent
Buraarles 699 27 (25) (24) '877
Fellowships
and lsctureships		 '18,181 778 (476) {620) 17,843
General educational purposes 1,922 75 (16) .1,915
Ubrsry 517 22 (18) {18) 503
Other purposes 3,354 164 (132) (114) 81272
Prizes 243 '11 (4) (6) 242'
Scholarahips .3,870 208 75 (132) 4,021
Endowment
Funds		 - Expendable
Bursariss 161 6 157
Chapel 296 12 (») (10) 288
Fellowships
and lectureships		 1,448 55 (67} (49) 1,362
General educational purposes 10,402 400 (89) (1,893} (356) 6,464
Library 54 2 (2) (2) 52
Other purposes 652 37 (10) (19} 560
Scholarships
Total Endowment
subsidiaries
Total Endowment
Restricted Funds		 Furids - College
Funds - Group		 888
4255		 27
(23)
692
1.
4~~5
~544
Jer5
1,
4~fi~~,4
Aung San Suu Kyi Summer School 6 8
Burma Exchange Programme 11 11
Ilalian Psvia Exchange Programme 18 (4) 14
Bursarlss 413 (6) (14) (10) 412
Capital projects fund 18 VS)
Career development fellowships 300 170 (17} (214) 239
China Sludiss building 1 (1)
College prizes 12 5 (2) 1 16
Fellowships 4 1 30 36
Lemure series 37 87
Refurbishment
snd		 development of buildings 299 125 (22) .(1) 401
Scholarships 164 7 (85) 46 132
Outreach 51 (44) 163 170
Legacy -Student Support 1,078 72 UB) 182 (20) 't,246
Futures Project ?,821 312 31133
Total Restricted Funds - Cogsge, 5,182 7 124 (30) 5,852
subsidiaries
Total Restricted Funds		 Group 5,182 77 ~S 124 (30) 5,852
Unrestricted
Funds
Designated
funds		 6,534 100 (51) (1,620) 6,768
Fixed asset designated fund 22,221 FL111) 303 21,413
General funds 5,598 10,860 (12,7JIO) 2,176 (1.776) «,116
Pension resenra
Total Unrestricted		 Funds - College ('l,413)
34,940		 I . (1,361)
~5.		 .47 ~5 (2,7S4)'
29,498
subsidiaries
Total Unrestrlcied Funds - Group 34,940 5, ~15. 2,479 (8,598) 28,498
Total Funds 62,484 13,557 (15,569) (5,074) 76,398
A comparative
note		 for 2020I21 figures is shown in note 31b

The following is s summary s summary s summary s summary ofIhe origins end purposes sfeach ofIhs Funds
Endowment
Funds -		 Permanent:
Burseries, Fellowships snd Leclureships, A consolidation
ofgifts and donslians
where income, but nol capital, can be
Library, PrizsA Scholarships Used lor the payment ofbursaries, the cost of fefiowships
and lectureships.		 the
running costs oftha library and for sludsnt prizes and scholarships.
General Educational Purposes Capital balance ofpast danations
where related income, but not the oriiginal		 capital,
can be used for Ihe general educafianal
purposes ofthe charit
Qfiier purposes A.consalidatlon afgifts end donations
where income, but nat capital, csn be
used far a variety ofeducational
purposes such as lectures snd student sup		 porL
Endowment
Funds -		 Expendable':
Burssries, Fellowships and Leciureships, A cansofidatton
of gifts and donations
where either income, arincome end capital,
Library, Chapel, lgstory, Scholarships can bs used for the paymeni afbumaries,
Ihe cost offellowships. and leclureships,
Ihe running
costs ofIhe library and forstudent
prizes and scholarships.
General Educational Purposes Capital balance ofpast donations where related income, ar Income and capital,
can be used for the general educational
purposes
ofths charity
Other purposes A consolidation
of gifts and donations
where either income, orincome snd capital,
can be used far a variety ofeducational
purposes such as travel granis, pnzes		 and
student suppori,
Restricted Funds:
Studenlsupport Aconsolidation
of gifts and donations where bolhincoms
and capital can be
used for student
supparL
Refurbishment and dsvslopm'snl ofbuildings A consolidation
ofgiftsand
donations'
where both income and capital can'be
used forthe refurbishment
and development
ofbuildings.
Capital projects fund A consolidatian
ofgifts end dbnstions
which are being released
into
unrestricte
funds in line viith the depredation
oflhe pre)act that they ware raised
to finance.
Chins Studies building A consolidation
ofjets bnd donations where boih income snd capital cen be
used to finance the construcfion
af9China Studies building.
As Ihe building
was completed'in
2015furiher. drinsfions sre Irensterred
Iounrestricte
funds,
Career development fellowships A cansalidsfion
ofgifts and donations
where both income and capital Csn be
used forcarebr develop'ment
fellowships.
Lecture series A gili to be used to provide a series af lectures overs 10year period.
Bursariss, Scholarships, Fellowships A consolidafian
ofgifts to be used ta fund burssries,
scholarships
and fellowships
Aong San Suu Kyi Summer School Aconsalldstion
ofgifts to furid.e summer
school for Burmese students
College Prizss A corisolidation
ofgifts to lund anamed prize in Chemistry
Futures Project A project to raise funds far the rsdevalapmsnl
ofthe site around the Wolfsan		 Building
ln the North West camar ofthe Cofisge site
Designated
Funds
Bursariss, Fellowships end Lectureships, Unrestricted
Funds allocated by the Fellows for future cosis ofbumsries
Scholarships fellawships
and lectureships
and scholarships.
Genarai educational pulpases Unrestricted
Funds sfiacsled by the Fefiaws for future general
educational
purposes. af the charity
Other purposes Unrestricted
Funds allocated by the Fellows far a variely of future costs
such as Ihe gardens, the library, prizes and student hardship.
The General Unrestricted Funds represent accumulated income from the Callege's activities and other sources that are available for Ihe general
purposes ofthe Cofiege

22 PENSION SCHEMES (continued}
' 0ss:
Assumption . „Change laissumpliortn ' .
'		 'ltnpac( oil USS gabllilles '.'
Initial prs-retirement
discount rate		 increase by 0.26% Decrease byf1.3bn
Post-rsgremsni
discount rate		 Decrease by 0.25% Increase by R2;Bbn
CPI Decrease by0.1% Decrease byf1.6bn
IJfe expectancy More prudent
assumption
(reduce Iha
to ihe base mortality
table by		 sdjuslmsni
5%}		 Increase by R12bn
Rate of moriality More prudent assumpgon'(increase
rnorlaliiy
improvements
long-isrm		 thd annual
reise by 0.2%}		 Increase by RQ.Sbn
GSPS
'
Assumption. Change'in asaumpgon. . - Impapl on QSPS te'chnlcal protdsions
vsluagon
rate of interest		 decrease by 0.25% increase byf45m
Rate ofpension increases Increase by 025% increase by 240m
Deliclt Recovery Plans
ln line with FRS 102paragraph 28.11A,the company hss
aesumpiione
used in these calculalions are tabled below.'		 recognised a liabigiy for the contribuiions payable forIhe agreed dsBrJI funding plan. The principle
L
OSPS 'USS
Finish Date for Defidl Recovery Plan 30/01/2028 3'I/03/2038
Average staff number increase 0% 0%
Average staff salary Increase 3% 3%
Average discount rate over penod 3.3% 3.3%
Effect ol0.5%change in discount rate 50.01m R0,02m
Egect of 1%change in staR grovrih 60.01m R0.2m

The College is abls totake advantage The College is abls totake advantage The College is abls totake advantage o/ ths tsx o/ ths tsx o/ ths tsx o/ ths tsx exempgons exempgons exempgons available available to chargies from taxation to chargies from taxation in respect of in respect of income snd capiisl gains received to lhe extent Ihei such gains received to lhe extent Ihei such gains received to lhe extent Ihei such gains received to lhe extent Ihei such gains received to lhe extent Ihei such gains received to lhe extent Ihei such
Income snd gains sre applied to exdusivsly chadtable purposes. No Debility lo corporation tax arises In the Cogege's subsidiary companies because the directors of
these companies have indicated that ihey intend to make donations
each year to the College equal to		 ihe taxable profits oflhs company under ihe Gift Aid scheme.
Accordingly
no provision
forlaxation has been		 induded in the linandsl elate/nants,
24 RECONCB.IATION OF NET INCOMING RESOURCES TO
NET CASH FLOW FROM OPERATIONS 2022 2021
Group Group
6'000 DODO
Nst income/(expenditure) (7,088) 13,110
Elimination
ol non-operating		 cash flowm
Investmenl
income		 {84&82) (2,587}
(Gains)/losses
In investmsnls		 5,0?4 (12,890)
Endowment
donations		 (171) (322)
Depredation 1,111 1,12?
(Surplus)/loss
on sale offixed assets
Decrease/(increase)
in stock		 (3) 5
Decrease/(increase)
in debtors		 (171) (731)
(Decrease)/increase
in creditors		 (44) 611
(Decrease)/increase
in provisions
{Decrease)/Increase
In pension scheme		 ItsbBity 1,381 (27)
Net oash provided by {usedin) operating activities (3,491) (1,704)
25 ANALYSIS OF CASH AND CASH EQUIYALENTS
2D22 2021
POOD COOO
Cash at bank and in hand 5,245 5,504
Total cash snd cash equivalents rm
FINANCIAL COMMITMENTS
Minir'num
lease paymenls
under		 non~nceBable operabng lease commlimsnts
in I'aspect		 of 2022 2021
equlpmsnt
for the 2022 snd		 2021 financial year on leases expiring: CODD COOO
Within one year 10
Between two end Bvsyears
Over five years
Total tease payments
recognised		 as an expense forthe year ended 31July 2022Etok (202b Rtok).
27 CAPITAL CONIMITMENTS
The College hsd contracted commitments at31 July 2022 for fulure capital projects totaBing 20k (2021:2692k).
RE(ATED PARTY TRANSACTIONS
The cogegs is part oflhs coBagisle University ofoxford. Material inlerdspsndenciss
between		 the Univsrxity anil the coBsge arise sss consequence ofthis
relationship.
For reporting
purposes, the Universby		 and the other cogsges sre not treated as related parties as defined in FRS 102
Members ofthe Governing
Body, who		 are Ihe Truslees ofthe College and related parties as defined by FRS102,receive rsmunersBon and lscgities as employees of
the College. DstsBs ofthese payments snd reinibursed expenses as Tmstees are disclosed separately
in these financial statements.
The College has properties viilh lbs.foBoviing net book values owned jointly with Tmstaes under joint equity ownership
agre'emsnts		 between lhs Trustee and the
CoBegs.
2022 2021
CDOO CDOD
Total Cogege's share ofcurrent nst book value ofpmpertles owns'd. joinBy with Trustees
Professor G Gsmelt 56
Professor KPiunkeB 241
Professor JMarBn 251 224
Professor CCepegi 278 246
Professor CStevens 275 244
DrJ PsriCin 2&9 280
Professor DDoyle 186 165
DrTSenders 192 170
Professor ESaupe 185 165
Pmfassor
M Husband		 't7& 157
Professor Iv Perkins 200
4 4,
ABjoint equity properiies
are subject to		 sale on the departure ofthe Trustee from the Degage.

30 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE		 US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSIBILITY SUPPLEMENTAL SCHEDULE
In ssgsfsation afits obligs6ans
to facilitate students access lo US federal Financial		 std, Ihe Cogegs Is required, by the US Department of Education, lo present, the
Iogowing Supplemental Schedules
ina prescribed
formal
The schedules have been;
-prepared under ths hlstaricsl coal convenlian;
-prepared using Unhed Kingdom gsnsragy accepted accounting
practice, ln accordance wilh ihe Financial		 Reporting standard 102(FRs 102)snd Ihs statement
of Recommended
Praciics:		 Accounfing
for Further and Nigher		 Education (2019edgion);
-presented in pounds
sterling
This schedule has been compiled
from the section 2Example		 Financial sietemenls included. ln the Fsdsril RegistsrrVot 84, Na. 184IMonday, september 23,
.2019IRules end Regulations
.2022 2021
46000 6'000
Uncs Expendable
Net Assets
24 Sfstsment ofFinancial
PosiTian		 - Nel assets Net assets without donar restriciians 29,214 34,940
wilhouldontrrrestricgons
30 .Staiemenl ofFinancial'Position -Net assets with Net assets wile donar restrictions 45,900 47,544
donorreslricgons
Sialsmenl ofFinancial PosÃon - Relaied psrly Secured snd Unsecured related psriy receivable
receivable
and Relaied party nate		 disclosure
Statemsnl af Financial Position - Related party Unsecured related party receivable
receivable
and Related party nots		 disclosure
Statemeril
of Financial Posilion-. Property,
Plant		 Property, planl and equipment, .nst gndudes 21,912 22,990
end squipmenl,
net,		 Consirucgon in progress)
FSNote line BA Note ofIhe Finsndel Ststemanis - Statement of Propsny, plant and equipment- pre- 21,879
Financial Paslgon- Properly,
plsnl		 and equipmenl implemsntelian
-pre-implsmsntatian
FSNote line 88 .Note ofthe Rnanclal Slstsmenls - Statsmeni of Property, plant end equipment - post-
Rnancisl
Poslgon - Properly,
plant		 end equipment implemenlsliOn
wiih outstanding		 debt for original
-post-Implementation
with outstanding
debt for		 purchase
original purchase
FSNate gne BD Nate ofIhe Frnsndal
Statements		 - Stalemenl of Property, plant snd equipment- post.
Financlsl Poslgon - Properly, plant and equlpmsnl lmplemsnta6on
without outstanding		 debt for
-post implemenlagon
without outstanding
debt		 origina purchase
for original purchase
FSNolo line BC Note df Ihe Rnandal
Statements		 - Stalemsnt of Construdion
in progress
Rnancisl Paslgan- Conslrudlon in progress
Siaternsnt ofRnancial. Pasllion - Lease right&- Laces rightwf-use asset, nel
use assets, net
Exduded Une 9Note Nolo afthe Finandal
Statements		 - Statemeni of Lease righW&f-use asset pre-Implementation
Leases Financial Poslgon- Lease right-af-use asset pre-
implemsnlagon
M9 Note Leases Note ofthe Financial Statemenls - Statement of Lease rightwf-use asset.post-iinplemsntagan
Finandsl Posigon- Lease right-of uss easel pasi-
impiemsntsgon
10 Statement of Financial Position - Goodwill Intangible assets
10 Slalement ot Financial Position -Other intangible Inlsrtglble assets
asssis
17 Statsmi. nt ofFinancial Pasllian - Post- Posi-employment snd pension lisbiliges :3,078 1,413
employmenl
and pendron
gebigties
14,20,22 Slatsmsnl
of Finandsl PosSan'-		 Nots Payable Long-term debt- for'long term purposes 50,503
and Ijneaf Credit for long-term purposes
(boih
current and long tenn) and Une afCredit for
Consirudian
In process
M24,20,22, Note Debt A Statement ofFinsndal
Pasirion		 - Nolo Payable Long-term debt - far long lsnn purposes pre- 50,50$ 50;769
and Line ofCredit for long.term purposes
(hagi		 lmplsmsntatlon
current snd long tenn) snd Uns ol Credit for
Constmctlan
In process
M24,20,22, Nole Debt B Statement
ofFinancial Position		 - Noie Payable .Long-.term debl- (or long tenn purposes posl-
end Une ofCredil for long.term purposes (bo!h Implemenlstlon
crirrenl and lang term) and Uns afCredit for
Construction
in pmcess
M24,20,22, Note Debt C Stslemeni
ofFinsncia('Posgion		 - Note Payable Line ofCredit far Construagon in process
and Line ofCmdit for long-tenn purposes
(bath
cunsnl
anil long tenn) and Une		 af Credit.for
Canslrurllan
in process
21 Stalemeni afFlnandal
Position		 - Lease righl of- Lease nghl-of-use asset liabgily
use asset liabilily
Excluded Line 21 Note. Statement ofFinancial Posigon- Lease right-of- Prs-implsmenlation right-af-use leases
Lessee uss asset liability prs-implementation
One 21 Note Leases Statemenl
ofFinancial Position-'Lease
right.af-		 Past-implementation right-of-uss leases
uas easel liabilily post-implementation
25 Siaiemsrtt ofRnancisl Position - Annuilies Annuiges wilh donar rsstricgans
Statement afFinsndal
Pasllian		 - Tens Term endowments vrith ddnar rssgicgons
endowments
Statement o(FinancfalPaslgon- Life Income Life income fu'nds vrilh donor restricgons
Funds
,Statement ofFinancial
Poslrron		 - Perpetual Net assets wilh donor restrictians; lsslriclsd In 28,473 28,766
Funds perpetuity

30 US DEPARTMENT OF US DEPARTMENT OF EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)		 EDUCATION
FINANCIAL RESPONSISIUTY SUPPLEMENTAL SCHEDULE (continued)
2022 2021
8'000 M000
Uncs Total Expenses and Losses
48 Stalemenl of AdiviTies - Total Operating Tolal expenses wilhout donor rsstricfions - taken 15,853 12,561
Expenses (Total from Statement of Activities prior direcgy from Statement ofActivities
to adjuslments)
(85),45,48,47,48,49 Stelemonl ofAdiviTies - Non-Operagng NOOOpsrsgng and Nel Investmeni (lass) 1,492 (15,477)
{Investment
return appropriated
for spending),
Investmenls,
nst ofannual spending
gain goes),
Other. components
ofnst periodi pension costs,
Pension. related changes oiher than nei periodic
pension, changes other than net periadic
pension, Change
in value ofspill-interesl
agreements
end Other gains {loss)- {Totalfrom
Statement of Aolivilies prior to adjuslmsnts)
(35),45 Statement of Activifiss - (Investment
rsium		 Net investment losses 1.492 (15,477)
spproprisled
for spending)
and Investments,		 nst
ot annual spending,
gain goes)
47 Statement of Activifies
~Pension
related changes		 Pension-related changes other than net periodic
alber then psriodic pension costs
Lines Modified
Net Assets
24 Statement af Financial Position- Net ssssls Nei assets viithou! donor rsstricgons 34,940
viithput donor restrictians
30 Statement
ol Financial Position-total
Net assets		 Nel assets with donor resbictions 45,900 47,544
with donor reslridions
Statemeni ofFlnandal Passion - Goodwgl Intangible assets
Statemerri of Financial PosiTian- Related psrly Secured snd Unsecured related party receivable
receivable and Related psriy note disdosure
Sfatemsnt sf Financial Position- Related party Unsecured related party receivable
receivable and Related party note disdosure
Lines Modified Assets
12 Statement ofFinandsl Position- Total Assets Total Assam 130.995 'I37,0'IQ
Exduded Line 9Note Nots ofthe Finandal Statements - Statement of Lease right-of-use asset prs-implementation
Leases Finandal
Pobigon- Lease right-of-uss asset		 pre-
Implemsntation
Exduded Line 21 Note Statemenl of Financial Position - Lease rightwf- Prs-implementagon right~f~ss leases
Leases uss asset.liability pre-implsmsntagan
10 Statement of Financial Position - Goodwill Intangible assets
4 Statement of Financial Posigon - Related party Secured snd Unsecured related pariy receivable
receivslils and Related parly note.disclosure
Sfatsment af Flnsndsl
Posigon - Related party		 Unsscumd related party receivable
receivable end Related party note dlsdosure
Lines Nst lncoiils Rstlil
55 Slalsmsnt ofActlviTies - Change
in Net Assets		 Change in Net Assets Without Donor (5,726) 4,764
Without Donor Restrictions Restrictions
38, (35), 50 Statement ofActkiilles - (Net assets released Total Revenue and Gains 10,104
from rsstricgon), Talal Operating
Revenue snd
Other Addltkrns
end Sale of Fixed Assets, gains
gasses)

2020/21 comparative
Permanent Endowment Expendable Total
Unapplied Endowment Endowments
Trust for Total
Invextrnani Return Total
EOOO EOOO EOOO K'000 8'000
At the beginning
ofthe		 year:
Giii componenl
ofthe permanent		 endowmsnl 14,929 14,929 14,929
Unapplied
total return		 8,743 8,743 8,743
Expendable
sndowinent		 11,262 11,262
Total Endowments 14,929 3,743 23,672 11,262 34,934
Movements
in the reporting		 period.'
Gib ofendowment
funds		 322 322
Recoupment
of trusl for		 Investmenl
Agocalion from trust for investment
Ihvestmeni
return: loial Invsstmeni		 income 287 287 414 701
Investment
return: realised snd unrsalissd		 gains and losses 5,580 5,580 2,655 8,235
Less: Inveslmsnt
mansgsmsnl		 coals Pg) (79)
Other transfers
Total 5,867 6,189 9,179
Unsppged
total reiurn allocated to		 Income In Ihe reporting psdod (1,095} (1,095} (1,095)
Expendable
endowments		 transferred ioincome
(1,09$& (1,095& (656) (1,761)
Net movements
ln reporting		 period 322 4,772 6,094 2,334 7,428
At end ofthe reporting period;
Gta component
ofths permanent		 endowment 15,251 15,251 'l5,251
Unapplied
total return		 13,$15 13,615 '13,5'l5
Expendable
endowment
Total Endowments		 15,251 626 F66 13,598
1,
6		 13,596
~2662

31 ADDITIONAL PRIOR YEAR COMPARATIVES (continued)
b ANALYSIS QF MOVEMENTS ON FUNDS
2020121 comparative
At 1August Incoming Resources Gainer At 31July
2020 resources expended Transfers (losses) 2021
2'000 B000 R'000 2'000 6000 2'000
Endowmont
Funds		 - Permanent
Bursades 565 11 (10) 133 699
Fegowships. and lectureshlps 15,102 326 (828) 3,581 18,161
General
educ'ational		 purposes 1,542 31 (14) 363 1,922
Library' 10 (40) 104 517
Other purposes 2,723 116 (127) 642 '3,354
Paces 191 1'I (4) 45 243
Scholarships 3,106 104 (72) 732 '3,370
Endowment
Funds		 - Expendable
Burssries 133 3 (6) 31 161
Chapel 260 5 (30) 61 238
Fellowships
and lsclureships		 1,298 28 (187) 306 1,443
General sducsSonal purposes 8,541 334 (79) (408) 2,014 10,402
Library 45 1 (3) 11 54
Other purposes 437 34 (22) 103 552
Scholarships 548 11 129 688
Total Endowinent Funds - College 1,023 (79) (1,751) 8,235 42,362
subsidianes
Total Endowment		 Funds - Group 34,934 1,W8~~1.7 1 8,235 42,362
Restricted Funds
Aung Sen Suu Kyl Summer School 6 6
Burma Exchange Programma 11 11
Ilssan pavis Exchange programme 16 16
Burssries 343 (1) 4'I3
Capital projects.fund 49 (30) 19
Career development fellowships 293 50 (43) 300
China Studies bugding 1 (1)
Cogega prizes 14 (2) 12
Fellowships 3 4
Lecture seda» 37 37
Refurbishment
and
Scholarships		 development ofbuildings 54
218		 '246
6		 (1)
(60)		 299
164
Legacy -Student Support 960 10 108 1,078
Futures Pm)act
Total Restricted Funds
-.Cogage		 2,258
4,264		 563
84		 ~8 165 2,821
5,182
subsldiaries
Total Restricted Funds - Group W1 ~4387 165 5,182
Unrestricted
Funds
Designated
funds		 2,137 43 (114) 2,385 4,0S» S,s»4
Fixed asset dedignated
fund		 22,935 (1,127) 413 22221
Gsneralfunds
Pension Reserve
Total Unrestricted		 Funds - College 6,544
('i,440)
30,178		 10,824
1887		 (11,130)
27
~424.		 (1,047)
1,751		 407
4,490		 5,59S
(1,413)
34.940
subsidisries
Total Unrestricted Funds -Group 30,176 7 ~42 8441 1,751 4,490 34,940
Total Funds 69,374 12,781 (12,561) 12,890 62,484