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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|
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||||||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|psld to trustees|||||||||
|---|---|---|---|---|---|---|---|---|---|
||||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|
##
##