2022-07-31-accounts - Saint John Baptist College In The University Of Oxford

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NANCIAL REVIEW	NANCIAL REVIEW	NANCIAL REVIEW	NANCIAL REVIEW
A summary ofthe College's financial				activities		is as follows:	2022	2021
							E'000	E'000
Summary ofConsolidated	College	Financial Activities
Incoming College resources
Resources from charitable	activities						7,141	5,466
Unrestricted revenue legacies and		donations					1,624	776
Restricted revenue legacies and donations							1,556	456
Corcnavirus Job Retention	Scheme	income					1	583
Trading income and other	generation		of	funds			169	63
							10,491	7,344
Funding from the College	Endowment
Investment income and interest							17,779	16,140
Capital gains								6,000
Capital gains used to fund	restricted		and	designated		activity	323	206
							18,102	22,346
Total incoming resource							28,593	29,690
College expenditure
General teaching and research							31,719	27,875
Non-cash pension costs							3,569	834
Total teaching and research							35,287	28,709
Public worship							89	90
Fundraising							617	622
Trading and sundry expenditure							23	275
							35,970	29,696
Net College Revenue							(7,377
Actuarial (loss)/gain on pension asset			(reccgnised)				2,779	6,295
Summary ofEndowment	Movements
Opening Endowments							703,617	606,864
Investment gains							25,774	110,695
New Endowments							1,022	446
Endowment costs							(17,862)	(7,362)
Gains used to fund operating activity								(6,000)
Gains on restricted and designated		endowments			used to fund operating
activity							(323)	(206)
Gains used to fund fixed assets								(820)
Closing Endowments							712,228	703617

					Unrestricted	Restricted	Endowed	2022	2021
					Funds	Funds	Funds	Total	Total
				Nates	F'000	POOO	EOOO	M000	r.'000
INCOME AND ENDOWMENTS			FROM:
Chadtable aatlvitlasr
Teaching, research	and residential				7,068	73		7,141	5,466
Public worship
Heritage
Other Trading Income					169			169	63
Donations and legacies					1,624	1,556	1,022	4,202	1,878
Investments
Investment income					17,131	648		17,779	16,140
Profits/(losses) on disposal			offixed assets
Other income									583
Total income					25,993	2,277	1,022	29,292	23,930
EXPENDITURE ON:
Charitable activities:
Teaching, research	and residential				33,965	1,322		35,287	28,709
Public worship					65	24		89	90
Heritage
Generating funds:
Fundraising					617			617	622
Trading expenditure					48			48	220
Investment management			casts			58	17,862	177g1	7,417
Total Expenditure					$4,566	1,404	17,862	53,832	37,058
Net Income/(Expendltum)		before gains
Net gains/(losses) on investments				10,11			25,774	25,774	110,697
Net Income/(Expenditum)							8,934	1,234	97,569
Transfem between funds				16	48	275	(323)
Other reaagnlsed gains/losses
Actuarial gains/(losses)		on defined benefit pension schemes			2,779			2,779	6,295
Net movement in funds forthe year					(5,746)	1,148	8,611	4,013	103,864
Fund balances brought forward					75,507	7,556	703,617	786,680	682,816
Funds carried forwanl at		31July			69,761	8,704	712,228	790,69$	786,680

			2022	2021	2022	2021
			Group	Group	College	College
		Notes	6'000	E000	6'000	E000
FIXEDASSETS
Tangible assets		9	114,705	108,304	114,697	108,303
Property invesun ants		10	325,065	347,229	269,990	245,054
Other Investments		11	392,670	396,832	446,334	458,631
Total Fixed Assets						811,988
CURRENTASSETS
Stocks			1,487	1,441	1,482	1,441
Debtors		13	15,442	5,956	5,417	4,828
Investments
Cash at bank and in	hand		28,556	10,612	6,715	7,842
Total Current Assets			45,485	18,009	13,614	14,111
LIABIUllES
Creditors: Amounts	falling due within one year	14	7,768	3,828	5,441	2,802
NET CURRENT ASSETS/(LIABILnlES)			37,717	14,181	8,173	11,309
TOTAL ASSETSLESS	CURRENT LIABILnlES		870,157	866,546	839,194	823,297
CREDITORS: falling due after more than one year		15	75,000	76,192	75,000	75,000
Pmvislons for Eabilities and charges
NETASSETSBEFOREPENSION LIABILDY			795,157	790,354	764,194	748,297
Defined benefit pension scheme liability		20	(4,464)	(3,674)	(4,464)	(3,674)
TOTAL NET ASSETS			790,693	786,680	759,730	744,623
FUNDS OF THE COLLEGE
Endowment funds			712,228	703,617	637,049	664,155
Restdrcted funds			8,704	7,556	8,704	7,556
Unrestricted funds
Designated funds			826	738	826	738
General funds			73,399	78,443	117,615	75,848
Pension reserve		20	(4,464)	(3,674)	(4,464)	(3,674)
			790,693	786680	759 730	744 623

					2022	2021
				Notes	6'000	6'000
Net cash provided by (used in) operating		activities		22	(40,947)	(24,696)
Cash flows from investing activities
Dividends, interest and rents from investments					17,779	16,140
Proceeds from the sale ofproperty,	plant and equipment				382
Purchase of property, plant end equipment Proceeds from sale ofinvesirsenis					(11,200) 395,543	(3,787) 68,330
Purchase of investments
Net cash provided by (used in) investing		activities			29,139	23,092
Cash flows from financing activiTies
Repsymenh ofborrowing
Cash inflows from new borrowing					(1,192)	1,192
Receipt of endowment					1,022	446
Net cash provided by (used in) financing		activities
Change in cash and cash equivalents	in the mporting		period			34
Cash and cash equivalents at the beginning ofthe
reporring period					10,612	10,759
Change In cash and cash equivalents	due to exchange
rate movements					29,922	(181)
Cash and cash equivalents at the end	of	the reporting
pened				23

INCOME FROM CHARITABLE AcllvnlES
	2022	2021
Teaching, Research and Resldensal	f'000	EOOO
Unmstricted funds
Tuition fees - UK and EU students	1,882	1,894
Tuibon fess -Overseas students	1,190	939
Other fees
Other HEFCE support	275	313
Other academic income	94	85
College resldengal Income
	7,068	5381
Resbicted funds
Other academic income
	73	65

			2022	2021
			6'000	f.'000
Donations and Legacies
Unrestricted funds			1,824	776
Restrlded funds			1,556	456
Endowed funds				446
			4.202	1,678
INCOME FROM OTHER TRADING ACTIVITIES
			2022	2021
			5'000	f000
Subskgary company		trading Income	1	61
Other trading income			168	2
INVESllgENT INCOME
			2022	2021
			Lv000	OOOO
Rants			12,455	10,955
Other property Income			117	177
Equgy dividends			5,144	4,964
Income from fixed		Intenmt stocks	20
Other Invesbnent		Income	0
Inlerest			43
			17.779	16,140
Inveslmsnt Income	Isatblbuted toe
Unrestricmd funds			17,131	15551
Resbided funds			648	589
Endowed funds			0
Total Investment	Income		17,779	6,140

ANALYSIS OF EXPENDITURE
	2022	2021
	fggc	f000
Charitable expenditure
Dired staff costs allocated to:
Teaching, research and residential	14,428	10,459
Public worship	71	73
Other direct costs sgacsted to:
Teaching, research and msklenbal	12,241	10,100
Public worship	18	17
Support and gavemance costs agocsted to:
Teachlrg, msearch and msldengal	8,618	8,150
Public worship
Talal charitable expenditure	35,376	28.799
Expendltum on raising funds
Direct staf costs agocalad lo:
Fundmblrlg	382	409
Tradirg expenditure		130
Invesbnent management costs	92	90
Other direct costs allocated kx
Fundrsisirg	149	141
Trading expenditure	48
Investment management costs	I6E92	5,845
Support and gavemancs costs allocated bx
Fundraisirg	86
Investment management costs	1,107	1,482
Total expenditure on raising funds	18.4MI
Total expenditure	53,532	37.058

		Generating	Charitable	2022
		Funds	Actlvlbes	Total
		E'000	E000	R000
Financial and domestic administration		178	1,631	1,809
IT Internet		29	681	'710
Depreciation			4raf7	4,417
Loss/(profit)	on fixed assets	(242)		(242)
payable		1,224	1,533	3,057
Governance	costs	4	56
		1,193	8,618	9,811
		Generating	Charfiable	2021
		Funds	AcbviTies	Total
2021		E000	E'000	6'000
Financial and domesfic adminislrafion			1,348	1,647
IT			652	679
Depreclafion			4,254	4,254
Interest payable		1,224	1,850	3,074
Governance	costs	4	46

			2022	2021
			6600	E'000
Governance costs compnsei
Auditors	remuneration	-audit services		50
Audits's	remuneration	-other services
Other governance costs
			60	50
Nondlcimmance costs Includei
Auditors	mmuneratlon	-other services	8	7

GRANTS AND AWARDS	GRANTS AND AWARDS
					2022	2021
					E'000
During the year the Cofiegs funded research awards		and bursarles tostudents	from its resbicted and unrestricted	fund	ss follows:
Unrestr1cted frlnds
Grants to Individuals:
Bursarles snd hardship	awards				171	121
Graduate studenlships					504	560
Other scholarships, pdzes and grants					446	314
Total unrestricted
Restricted fuhds
Grants to individuals:
Bursaries and hardship	awards				275	379
Graduate studenlshlps					425	378
Other scholarships, prizes snd grants Total restricted					34 734	25 782
Total grants and awards					1,855	1,777

STAFFCOSTS
			2022	2021
The aggregate staff cosh forthe year were as follows.			E'000	E'000
Salaries and wages			10,596	9,825
Sodal security costs			1,054	871
Pension costs:
Defined benefit schemes			5,027	2,068
Daiinsd contribution	schemes
Other benefibr
The svenfite number	ofemployees	ofthe College, excluding Trustees, was 364(2021:334)
The avenfite number	ofemployed	Colege Trustees during the year was 60(2021:62)

The fofiowlng Information	relates	relates	to the	to the	employees of	employees of	ihe College exdudlng	ihe College exdudlng	the College Trustees. Details ofthe remunerafion	and reimbursed
expenses ofthe College Truslees			Is	Induded as sseparate				note in these financial statemenls.
The number of key employees		(exduding				the College	Trustees) during the		year whose gross pay and benefils fell within the	following bands	was:
										2022	2021
E60,001 - E70,000										3	2
F70,001 - E80,000										1	2
B!0,001 - E90,000											1
F90,001 - E100,000
F100,001 - F110,000
F110,001 - F120,000
The number of the above employees				with		retirement	beneffis accmlng was		as fofiows:
In defined benefits schemes
Details ofthese schemes	can	be	found		In	Nota 20

TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
Group			Freehold	Bufidings	Bul Idirg	Fixtures,
			land and	under	Improve ments	figrgs and
			bufidlngs	Constmcdon		equipment	Total
			EOOO	E'000	POOO	E'000	E'000
Cost
At start ofyear			122,576	2214	29,247	1,057	155,994
Additions			373	7,665	3,148	11	11,200
Trensfem from	investment	properly
Dlspceals			(502)				(562)
At end ofyear			122,387	9,882	32,395	1968
Depreciation	and Impairment
At start ofyear			27r422		18,851	1,417	47,090
Depreclafion charge for the		year	2,547		1,636		dv417
Depreciation on dispossls			(180)				(180)
Impairment
At end ofyear			29,789
Net book value
At end ofyear			92.598	9882	11,908	317	114705
Atstart ofyear			95,154	2,214	10,396	540	105,304
College			Freehold	Buildings	Burldlrg	Fixtures,
			land and	under	Improvements	flNngs and
			bulklings	Construction		equipment	Total
			E000	E'000		E000	E'000
Cost
Atslslt ofyesr			122,576	2,214	29,145	1,758	155,693
Additions			373	7,668	3,148	2	11,191
Transfers from	Invesbnent	properly
Dlspossls			(562)				(562)
At end ofyear			122,387	9,882	32,293	1,760
Depreciation end impairment
At start ofyear			27r422		18,749	1,219	47,390
Charge for Ihe	year		2547		1,636	232	4,415
On disposes			(180)				(180)
Impairment
At end ofyear			29,789		20,385
Net book value
At end ofyear			92,598	9,882	11,908		114,697
At start of 'jeer'			05,154	2,214	10,396	539	108,303

Group						lilvesbiient	2022		2021
						P(openy	Total		Total
						E'000	E'000		EOOO
Valuabon at start cfyear Additions and Improvements	atcost					347,229 20,518	347,229 20,518	331,534 7,571
Dlspcsals						(79,837)	(78,837)		(13,969)
Transfer tofixed sssels									(1,282)
Revaluation gains/(losses)	in the year					36,155	36,155		23375
Valuation at end ofyear						325,085	325,065
Cogege						Investment	2022		2021
						Propeny	Total		Total
						r.'000	E'000		CQQO
Value6on st start ofyear AddiTrons and improvements	atcast					245,054 1,320	245,054 1,320	242,335 1,903
Disposals						(4)	(4)		(1,120)
Transfer tofixed assets									(1,282)
Revelusgon gains/(losses)	in the year					23,620	23,820		3,218
Valuation st end ofyear						289,990	269,890	245,054
At 31July 2022 the Eslate	land and property wss valued		by Ihe Colhge's Properly		ArMsor, Seville,	which isa member	ofthe Royal	Institution	of
Chartered Surveyors.
OTHER INVESTMENTS
AO Investmanls ara held st	fair value.					College	Giriup
						2022	2022		2021
						E'000	E'000		E'000
Group investments Valuation at alert ofyear						398,832	396,832	313,670
Purchases						299,955	352,847		50,020
Disposals (Decrease)/Increase In value ofinvestments						(316,706) (40,301)	(316,706) (40,303)		(54@61) 87,503
Investments at end ofyear exdudlng		subsidiaries				339,680	392,570	396,832
Investment In subskgaries						106,654			61.799
Investments st end ofyear inrdudlng		subsidiaries
Group Investments comprise:		Held outside		Held In	2022	Hsld oulskle	Held in		2021
		Ihe UK		the UK	Total	the UK	the UK		Total
			EOOQ	E'000	E'000	EOQO	OOOO		E'000
Equity Invesbnents F'weil litle/est slocks		300,772			366,295	293,405 5,514	64,428	357,833 5,514
Investment funds and other	securbles	22,162		4213	26,375	17,829	15,656		33,485
Total greup Investments

Forthe year	ended 31July 2022		Parent Coltrge	The lamb & Flag (Oxford) Ltd	The lamb & Flag (Oxford) Ltd	Thomas White P/ops/usa Ltd.	Bslnton Nulsery	Bslnton Nulsery	Road Ltd
			POOO	2000		EOOO			DOOO
Income			76,034			98			117
Expenditure			(42444)			(28)			(58)
Donaton to Degage under gift aid						PO)
Actuarial gains on	pension scheme		2,779
Net gains/(losses)	on Investmenls
Result for Ihe year			15,107						58
Total assets			840,171		32	51			145
Total liabilities			(80,441)	(130)		(34)			(71)
Net furds at the end ofyear						17			74
		Peame Ox/om Ud	Thomas White Oxford Ud	Lady White Investments LLC		Thomas White Investments LLC	Saint John Baptist College in the University of
							Oxford gGmbH
		E000		EOOO		EOQO			DOQQ
Income		103	138			347			3,198
Expendsure		(117)	(9,904)			(161)		(2,798)
Dlstrlbugon or DonaOons from subsidiaries			(49,000)					(1,679)
Net gains/(losses)	on Investmsnts	9,100	33.795
Result for the year
Total assets		23,677	115r450			7,645			2,032
Total liabilities		(18,291)	(91,856)			(11.365)			(23)
Net funds atthe end ofyear		5,386

Comparative	resu	lts foryear ended 31July 2021
				Parent Colbge	The lamb & Flag (Oxford) Ud	Thomas White Praper6es Ltd.	Balnton Nursery		Road Ltd
					f'000	f000			7'000
Income				22,831		97
Expenditure				(34,751)	(108)	(21)			(258)
Dona0an to Ca0ege under gift aid						p6)
Actuarial gains on		pension scheme		6,205
Net gainer(losses)		on Investments		94,344
Result forthe	year				(94)				24)
Total assets				822r425	32	15,177			74
Taint llabOltles				(77,802)	(65)	(120)			(50)
Net funds at the end ofyear				744,623					16
			Pearlree Oxford Ud	Thomas Whba Oxford Llrl	Lady White Invesbnents LLC	Thomas Whbe llstrllerlls LLC	Saint John Baptist College in Ihe Universsy of Odord BGmbH
			f000	f000	f000	f'000			BOOO
Income			08	01	37	107			2,657
Expsrdlmm			(92)	(729)	9	(250)			(429)
Distribution fmm US subsidiaries						(536)		(1,760)
Net gainer(losses)		an Investments	(11,400)		(4)	(1,805)			P0)
Result for Ihe	year		404	32,705
Tabs assets			14,434	67,096	16	7,393			1,069
Tabs liabilities			(13)	(1.427)		(166)
Net funds at Ihe end ofyear			14r421		16	7,227			1,669
DEBTORS
				2022	2021	2022			2021
				Group	Group	College		College
				8'000	f000	Lr000			f.'000
Amounts falling due within ane year.
Tnde debtors				12,740		3,469			2r050
Amounts owed by Amounts owed by Prepayments ard Other debtors		Ca0ege members Group undenaklngs accrued Income		876 1Jsg 437	1,200 339	076 96 540 436			928 177 528 339
						5,417			4.820

CREDITORM falling due within one year	CREDITORM falling due within one year	CREDITORM falling due within one year
					2022	2021	2022	2021
					Group	Group	College	Cofiege
					f7000	C000	(F000	E000
Trade credilors					5,266	2,105	3,936
Amounts owed to College Members					202	157	202
Amounts owed to Group undertakings							167
Taxafion and sodal	security						632
Cofiege contdbulion
Accruals snd deferred income					1,241	721	215	410
Other creditors					290	322	289	322
CREDITORS: faglng due oner more than		one year
					2022	2021	2022	2021
					Group	Group	College	College
					6'000	E000	ETMO	C000
Bank loans					35,000		30,000	35,000
Loan rows					40,000		40,000	40,000
Other creditors
					eral
The 635 mfilion bank loan issecured on the Kendrew was drawn down in December 2009.			Quadrangle.	It Is repayable	in 2039snd interest	is charged atsfixed rate cf5225%.This loan
The loan notes comprise 620 mfillon due in		2051 with	afixed interest rate of2.92%and r20 million due In2061 with				afixed interest rate of32%.
The funds from Ihe	loan notes were drawn down In June 2016.
ANALYSIS OF MOVEMENTS ON FUNDS
		At 1ArDust		Incoming	Resources		Gains/	At 31July
			2021	resollrces	expended	Transfers	(losses)	2022
College			C000	C000	5000	E'000	6900	GOOO
Endowment Funds	- Permanent
Permanent Endowment Funds			5,000				(545)	5,355
Endowment Funds	-Expendable
General Endowment	Fund	6167L36			(6,544)		(18,470)	591,414
Designated Endowment Funds			10,306			(40)	(1,105)	9,153
Specific Endowment	Funds		31,513	1,022		(275)	(1,133)	31.127
Total Endowment	Funds	664,155		1,023	(6,544)	(323)	(21,262)	637,049
Restricted Funds
Resincied Furxis Total Restricted Funds			7456 7,550	2,276	(1,403) ~A	275		8,704 0,704
Unrestricted Funds
General Reserve			75,840	72,575	(30,800)			117,615
Designated Reserves			730	160	(120)			026
Pension Reserve			(3,674)		(3.569)			(4,464)
Total Unrestricted	Funds		72,912	72,735	(34,497)	48	2,779	113,977
Total Funds ofthe Cogege				70,034	(42,444)		18,483	759,730

		At	1August	blooming	Rssoumss		Gains/	At 31July
			2021	resoumes	expended	TISIwfels	(losses)	2022
Group			EOOO	E'000	E'000	EOOO	EOOO	E'000
Endowment Funds	- Permanent
Permanent Endowment Funds			5,900				(545)	5,355
Endowment Funds General Endowment	-Expendable Fund		655,898		(17,862)		28,557	666,593
Designated Endowment Funds Spscific Endowment Funds			10,306 31413	1,022		(48) (275)	(1,105) (1,133)	9,153 31,127
Total Endowment Funds							25,774	712,228
Restricted Funds
Rsshlctsd Funds			7,556	2,276	(1,403)	2/5		8,704
Total Restricted Funds			7,556	2,27	1403	275		8,704
Unrestricted Funds
General Reserve			76,443	25,833	(30,877)			73,399
Designated Reserves			738	160	(120)			826
Pension Reserve			(3,674)		(3,569)		2,TI9	(4,464)
Total Unrestdcted Funds			75,507	25,993	(34,566)	48	2,TI9
Total Funds ofthe	Group						23,553	790,693
Comparathre results	for year ended	31July 2021 At	1 August	Incoming	Rssoumss		Gains/	At31July
			2020	resources	expended	Transfers	(losses)	2021
College			EOOO	E000	E'000	EOOO	E'000	E'000
Endowment Funds	- Permanent
Permanent Endowment Funds			4,938				962	5,900
Endowment Funds	- Expendable
General Endowment	Fund		540,599		(5,479)	(6,820)	88,136	616,436
Designated Erdowment Funds SpecITIc Endowment Funds			8,476 27,857			(206)	1,830 3416	10,308 31,513
Total Endowment Funds			581,870					664,155
Restricted Funds
Reshided Funds				1,130	(1328)	206	2	7,556
Total Restricted Funds				1,130	(1,328)	206	2	7,556
Unrestricted Funds
General Reserve			74,933	21,131	(27,036)	6,820		75,848
Designated Reserves			687	124	(73)			738
Pension Reserve			(9,134)		(835)		6,295	(3,674)
Total Unrestricted Funds			66,486				6,295	72,912
Total Funds ofthe	College		655,902	22,831	(34,751)		100,641

ANALYSIS OF NETASSETSBETWEEN FUNDS
	Unrestricted	Raslrlaed	Erdowment	2022
	Funds	Funds	Furlds	Total
	EII00	E'000	C000	8'000
Tangible fixed assets Pmperty Invsstmenls Securities and other inveslmenls	114,705		325,065 392,670	114,705 325,065 392,670
Net current assets	(5,480)	8,704	34,493	37.717
Pension liability	(4.464)			(4.464)
Long term creditors	(35,000)		(40,000)	(rs,000)
	69,76	8,704
	Unresbicted	Restricted	Endowment	2021
	Funds	Funds	Furxls	Total
2021	E'000	B000	E000	5'000
Tangible fixed assets Pmpedy invesbnenh Securities and other Invesbnenls	108,304		347,229 396,832	108,304 347,229 396,832
Net ament assets	5,877	7,556	748	14,181
Pension liability	(3,674)			(3,674)
Long term creditors	(35,000)		(41,192)	(76,192)
	75.507	7,556	703,617	786,680

Remunerstlon
		2022					2021
	Number of	Gross	remunsreson,	lexeble	Numberal		Gross remuneration,	taxable
	Trusleesi Fe5aws	benefits end pension conbibutlons			Trusleesr	Felmws	bensas snd pension aontribulians
			E000's				ROW8
EDE999			I
54.000E4,999			4				5
ES.OOOE5,999 f6,000E6,999			53				11 33
ET,ODOE7,999			38				45
58,000E6,999							17
E9,000R9,999			10
El0,000-RI1,000			10
El2,000-R12,999							12
2I8,000-718,999							74
El9,000619,999							59
f20,000220,999							61
221,000-221,999			22				22
222.000-222,999							68
f253100-225,999							26
f29.000-f29,999							29
E30,000-ES0,999			31
f31,000-231,999 f33,000-233,999 f34,000-234,999 f36,000-236,999 Est.							62 33 35 11D
288,000536,999							39
239,000539,999							79
240,000540,999			122
641,00D.E41,999			41
242,000642,999			129
645.000845,999			45
246.000546,999			46				46
247,000847,999			95				95
649,000.649,999			149
ODOR51,999							52
653,000853,999			53				54
EST,000-257,999			115				57
258,000.258,999							59
ESD,OOORSS,OQQ			12D
f60,000-260,999 f62,000-Bi2,999 f64.00ILE64,999			63 65				61
273,000273.999 f74,000474,999							73 223
279,000879,999			80				80
290,000560,999							160
Est,oosfs 1,999			244
fsS,ODILBI3,999			167
E86.00D-BI6,999			86
E87,000-BI7,999			87
B!8.000888,999 f91.000891,999			176 183
E96,000695,999			97
297,000-297,999			97
B!8,000-f98,999							98
2103,000-R103,999			104
R108,000-f108,999			106
R112,000-f112,999							112
2114,000-fI14,999							115
Rl20,000&120,999			121
2I23,000&123,999			123
F140,000&140,999			140
f155,00D&155.999			155
f163.000&183,999						I	186
f193,003-2194999			191
Total	61	3,S72				63	2.333

Fund asset agocation	Fund asset agocation			31-Jul-22	31-Jul-22		31-Jul-21
					OOOO		E'000
Equitiss				25r446		93	20,974	79
Government bonds					411	2	1,838	7
Other					1,541	6	3,719	14
Total				27,398		100	26,531	100
None ofthe fund assets are Invested			in the Cofiege's iinsndal	insbuments	or In property occupied by, or other assets			used by,
the Cofiege.
							31-Jul-22	31-Jul-21
ReconciUatlon	offunded	status to	balance sheet				EOOO	E'000
Fair value cfassets							27,398	26,531
Present value	offunded defined benefit obggafions						(19,484)	(28,465)
Funded status							7,914	(1,934)
Unrecognised	asset
Asset/(liabilily)	remgnised	an the balance sheet
Present value	ofunfunded	defined benefit obligations

					Year arming	Year ending
Amounts recognised	in	income statement			31Jul-22	31-Jul-21
					E'000	E'000
Operaung cost
Current service cost					1318	1,359
Administration expenses					0	0
Past service cast					0	0
Cunatm ant cost					0	0
Seltlement cost					0	0
Flnandng cost
Inbrmst on net delined		benefit liabilily/(asset)				107
Pension expense recognised			In Income statement			1,466
					Year ending	Year ending
Amounts recognised in		Other Comprehenshm		Income (OCI)	314ul-22	31-Jul-21
					EOOO	EOOO
Asset gains/(losses) seeing dudng the year					101	4,715
IJabi/Uy gains/(losses) sdslng			durfng the year		10,592	1,580
Change In the sffect of	Ihe asset ceiling				0	0
Total amount recognised		in OCI			10,693	6,295
					Year ending	Year ending
Changes tothe present		value ofthe defined benefit abggatlon			31Jul-22	31Jul-21
during the year					5000	E'000
Opening defined benefit	obligafion (DBO)				28,465	28,531
Current servtm cost					1,318	1,359
Interest expense on DBO					494	407
Contribubons by members					261	232
Actuarial (gains)/losses	on liabfiltles				(10,592)	(1,580)
Net benefibr paid out					(462)	(484)
Past service cost					0	0
Curtailment cast					0	0
Net increase In liabiTiUss	from		dbposals/acquisiTions		0	0
Setsements					0	0
Closing defined benefit	obfigafion				19,484	28,465

RECONCILIATION OFNET	INCOMING	RESOURCES TO	RESOURCES TO
NET CASH FLOW FROM OPERATIONS				2022	2021
				GrouP	Group
				6900	COM
Nst income/(expenditure)				4.013	103,864
Egminslion of non-operadng	cash flows:
Investment income				(17,779)	(16,140)
(Gaire)/losses In Investmenls				(25,774)	(110,697)
Endowment donafions				(1,022)	(446)
Depredafion				4,417	4,254
Decrease/(Increase) Instock				(46)
Decrease/(Increase) In debtors				(9,486)	993
(Decrease)/increase in credkors				3,940	(1,089)
(Decrease)/increase In pension scheme		fiabfitty		790	(5/Mfi)
Net cash provided by (used in) opersfing			activities	(40,947)	(24
ANALYSIS OFCASH AND CASH EGUIVALENTS
				2022	2021
				Efiss	C000
Cash at bank srd In hand				28,556	10,612
Total cash and cash equivalents				28,556	10,612