2024-07-31-accounts

NIVEf¢siT¥ QF OXFORD St Antony's College Annual report 2023/24

Contents Foreword from the Warden and Chair of the Governing Body... Objectives, achievements and future plans........................-.......................-...................-.... Student experience.. Equality, diversity and inclusion IEDII. Environment Records & Archives.......... Raise the profile of the College within the University.... Raising funds......-......... Scholarship partnership...................-........................................................-......... Development operations.. Regional Study Centre5......................................-.........................-...........-.........-............................ African Studies Centre Financial Review...... .12 Financial results for 2023124. .12 Funds and balance sheet .13 Reserves...............-..........................-....................-................................ .13 Investment policy, objectives and performance . .14 Risks and uncertainties. .15 Structurei governance and management.... .15 Governing documents.... GoverninB Body.......... Recruitment and training of members of the Governing Body............-.....................-....-................ 16 Remuneration of Members of the Governing Body and Senior College Staff........... .17 Sub-committees . .15 .16 .17 Subsidiaries and interdependencies..........................-.........-..........-.........................-...... Members of Governing Body 2023/24......... Statement of Accounting and Reporting Responsibilitie5.......................................-............................ 20 Independent Auditors, Report to the Trustees of St Anton¢s College.... .21 Accounting Policies................................................-..........-......................-..........-................... .17 .17 .25 Statement of Flnanclal Activities .31 Consolidated and College Balance Sheet........................................... ConsolSdated Statement of Cashflows..................................................................................................33 .32 Notes to the Financial Statements...... .34

Foreword from the Warden and Chair of the Governing Body l am delighted to introduce the College's annual report. The start of this year marked our largest student intake.. 287 new students, comprisin8 57 different nationalities, arrived at the College, of whom 44 were DPhil, 79 MPhil and 164 one-year Mèster's degree students. At the same time, we have stepped LJP our efforts to secure scholarship funding for stvdents. The highlight of the year was the success in reaching our target of £1 million for a new endowed scholarship fund, thus releasing a further £500,000 from the Universlty in matched funding. Thanks largely to the generosity of alumni, this fund will support 5tudent5 from low- and medium-income COLJntries, listed by the Development Assistance Committee IDACI of the Organisation for Economic Cooperation and Development IOECDI as entitled to public development aid. To make the most of our other sources of available fundin& we are collaborating with departments and the University to offer joint. full scholarships where possible. Along with students, this year we hosted 36 Academic Visitors from 14 countries, who enriched the intellectU31 life of the College. The Colle8e continues to thrive with a large number of seminars and other academic events organised by our regional study centres. Their activities are described I detail later in this report. Our students and our Graduate Common Room IGCRI have, as usual, been active in orEanising and participatinE in a large number of social, academic-related and sporting activities. Their range of activities IS too vast to recount here. but to mention a few, they ran language Immersion events, provided support to fellow students, worked hard on EDI, gender and LGBTQI inclusion and on sustainability, organlsed a new Global South Film society and the football team won the University Cuppers Final. However, global political events, notably the G323 War, affected the College this year. Families and friends of some staff and students were directly affected by conflict and violence in Palestine and Israel. while many students became involved in protests. We have managed to pull through, thanks to the enormous goodwill and understanding of our students, the truly exemplary dedication and commitment of our staff and the leadership and responsiveness of our fellows. Moving on from students to fellows, Warden Professor Ro8eT Goodman was appointed Commander of the Order of the British Empire ICBEI for service5 to Social Science in the 2024 New Yearfs Honours. Having spent the year in Japan on sabbatical leave, he returned to the College at the start of the 2024125 academic year. Amir Lebdoui, Rachel Murphy, Leigh Payne and Tim Vlandas have won grants and research awards from the Open Society Foundation, the Leverhulme Trust, ESRC and the British Academy. Several fellows have written new books.. Tom Hale, Dan Healey, Amir Lebdioui, Eugene Rogan and Robert Service. We bade farewell to Governing Body Fellow Professor Takehiko Kariya, who is retiring and returning to Japan. In the ¢omin8 year, we will be delighted to welcome our new fellows.. lanaki Srinivasan IDigital South Asian Studies), Kristi Govella (Politics and Internatlonal Relations of lapanl, Michael Odijie (African History) and Gregory Thaler (Environmental Geography and Latin American Studies). These appointments mark exciting new association of the College with the Oxford Internet Institute and the School of Geography and the Environment, while further strengtheninE our links with the Oxford School of Global and Area Studies and the History Fatulty. We elected Professor Rashid Khalidi, Edward Said Professor of Modern Arab Studies at Columbia Univer51ty, to an Honorary Fellowship. Sadly, we lost Honorary Fellow Professor David Marquand and Emeritus Fellows Allan Taylor Iformer Bursar), Professor Robert Barnes and Professor Mark Elvin.

Our staff deseNe speclal recognition for their hard work in keeping the College in excellent shape. We welcomed 16 new staff members. including the College's inaugural Archivist and Record5 Manager and among other staff change5, a new Head of Operations & Estate5, replacing our outgoing Domestic Bursar after 7.5 years. Our sustainability initiatives are going from strength to strength, SUPPOTted by our Environmental Sustainability Officer and our Green Impact Team. A150 of note 15 our newly adopted ethical donations acceptance policy that squarely espouses environmental concerns. Climate change was the focus of our Visiting Parliamentary Fellows IVPFI ProEramme this year. The fellows were Chris Skidmore and Alex Sobel, both of whom have led on environmental polity initiatives. The VPF programme kicked off with a special launch event at COP28 and the subsequent sessions In College addressed, among other things, the question of electoral politics and building voter support for climate policies in countries across the Élobe. I would like to take this opportunity to thank everyone in the College for their support this year, which made myiob as the Acting Warden both rewarding and enjoyable. Nandini Gooptu Acting Warden

Objectives, achievements and future plans St Antony'5 College's purpose for public benefit is to 'promote international understanding in a complex world, IStatute5, Aims, IVI. We do this by.. providing a home to around 550 graduate students of the University of Oxford, all studying programmes in the social sciences and humanities,. supporting our Regional Study Centres in their activities whlch include running an extensive series of academic events and hosting Academic Visitors from around the world,. and through our communitv of College Members and alumni who provide an important mode of engagement with dlfferent regions and communities around the globe. We Set out in our Vislon and Mlsslon (Our ur ose mlsslon and vision St Anton ox.ac.uk ways in which we seek to deliver on this purpose in the coming year5,. we seek to improve and enhance the student experience; increase the diversity of our Governing Body, and improve equality, diversity and inclusion across the College; deliver our Greenhouse Gas Emissions Action Plan,- catalogue College records and archives,. and raise the profile of the College within the Universlty. The Governing Body has had regard to the Charity Commission's guidance on public benefit in considering its Purpose, Vision, and Mlssion. the Highllghts In delivering our Mission during 2023124 have included- Student experience Increasing the volume of financlal support available to students and potential students remains a primary concern and the focus of our fundraising efforts. in order that we tan ensure that any student. regardless of background, Can have the opportunity to study and succeed at the College. Our fundraising efforts have been focus5ed in this area and are discussed later in this report. We continue to seek to support OLJf Students in practical ways and, as part of this, have converted 4 Church Walk into student accommodation, delivering an additional 10 accommodation units for our students, and created more study and social space for student5 in the Old Main BuildinE. We have also worked with our student body and GCR team during 2023124 to develop guidance on holding student events, including protest, in light of recent events in the Middle East and tensions among academlc communitie5 acr055 the Western world. To enhance the student experience and provide better support for those living off-site, we have introduced three new student spaces in the Old Main Building. These include a collaborative group study area, a reservable private study room, which can be used a5 a private brea5tfeeding room, a communal kitchen for preparing hot drinks and warming food, and a deslgnated prayer space. We have also established updated guidelines for College Clubs and societies, enablinE Students to launch new clubs. This year, we welcomed a chess club, a mah-jong group, and a foosball team. Student wellbeing remains a top priority. The Academic Office offered dedicated support for a wide range of health, wellbeingi and academic issues, including 69 complex welfare cases where we provided personalized guidance and resources for students facing personal, health, and mental wellbeing challenges. In each case, we worked with students to find solutions within the exam regulations to support their academic progre5S.

The Acadernic Office handled 371 cases over the year, including.. AssiEnment extension requests.. 128 Dispensation application5: 27 Alternative exam arrangements.. 16 Student welfare or academit support cases.. 69 Financial hardship assistance.. 23 Mitigation applications to examiners.. 81 Support for suspended students.. 27. Flnancial Support Inltlatlves Students have access to varioLJS funds to assist with their studies and research. The Student Travel and Research ISTARI Fund provides £200 to £600 per term, benefiting 77 students this year, with a total of £25,953 distributed. Additionally, nine DPhil students received £1,000 each through the Writing Up bursary, aimed at those who have pa55ed Confirmation of Status or are in their final year of research. Further financial assistance is available thraugh the Financial Assistance Fund for students facing unexpected financial difficulties. We supported 13 students this year, granting a total of £27,550 in either interest-free loans or small grants, helping ensure continued support for future students through loan repayment. Each term, the College offered a free welfare lunch as well as a DPhil Supper, where students can present their research in an informal and relaxed environment. We offeied two 5e55ions for staff member5, where a number of DPhil students explained their research to the support staff in three minutes and answered questions. Equality, diversity and inclusion IEDII We ran 3 series of EDI workshops in Trinity Term, including sessions on neurodiversity and gender identity, open to all of our community. We have also published our approach to includin the families of Colle e members in all that we do. We have refreshed our external EDI Advisory Board and look forward to working wlth them to improve and strengthen St At)tony's as a space where equality, diversity, and inclusion are truly celebrated. We were delighted to welcome six new Governing Body Fellows in 2023124, three men and three women, working in a range of diverse field5 from law to cyber security. Environment We received our heat decarbonisation plan for the estate in March 20241 providing a clear set of priorities for investment and a roadmap to ceasing use of natur31 gas for heating, cooking and hot water, while also improving insulation and the fabric of our buildings. We are now mapping this to our estate plan to ensure that we meet the goals set out in our Greenhouse Gas Emissions Action Plan.

Records & Archives We welcomed our inaugural College Archivist and Records Manager in 2024 and, with her help, look forward to publishing an update to the College history for our 75, anniversary in 2025. Raise the profile of the College within the University We are lucky to have a number of senior University figures among our Governing Body, including the Head of the Social Sciènces Division, two Associzte Heads of Division, and several Heads of Department. Several of these are also merNber5 of University Council. We seek to use our network5 and influence to improve the lives of students at Oxford. Raising funds As noted above, our fundraising priority is to increase financial support for our students. The targets we set were to.. Deliver a £l.O million endowed fund to provide scholarships to students from DAC countries, thereby releasing a further £O.S million of University matthed funding. Raise a further £0.5 milllon in scholarship funding and £O.I million for Student 3Ctivities by 2027. The first target was delivered in September 2024 and the fundraising for the second target had already raised £173,355 in nèw Scholarship funding and almost £50,000 in other student support by the end of July 2024. Fundraising activities have included in-person events in The Hague, London, Seoul, Hong Kong and Singapore. The campaign for the endowed DAC Scholarship was launched at the Gaudy for those who were studied at St Anton¢s in the 1990s. The event, attended by nearly 200 alumni, took place at the College in September 2023. All fundraising activities by Fellow5 and Centres are monitored by the Development Director who, together with the Data Protection Officer, ensures that all rules and regulations are adhered to in terms of data protection and fundraising regulations. St Antony's College operates in compliance with the Fundraising Regulator's voluntary scheme. The College has not received any fundraising complaints about any of its fundraising activities. A number of protocols are in place to ensure that the Development Office is fully compliant with the GDPR and PECR. The College's Data Protection Policy Statement is published on the College website, as well as a privacy notice for, amongst other5, alumni and donors. Scholarship partnership To maximiie the available resources, the College is working with a range of partners to offer joint scholarships. It is part of the effort that is set out in the new Scholarship Policy to offer full instead of partial scholarship. Partnerships were agreed in 2023124 with the Weidenfeld Hoffman Trust, the Oxford Department of International Development, the Department of Economics, the University's Academic Futures and Clarendon Fund, the Africa-oxford Snitiative (Afoxl and UK Research and Innovation IUKRII.

Development operations The Warden and a small professional team, the Development Office, are the staff involved with fundraising. St Antony's College is registered with the Fundraisin Re ulator meaning that we are committed to legal, honest, open, and respectful fundraising. All fundraising activitie5 by Fellows and Centres are monitored by the Development Direttor who, together with the Data Protection Officer, ensures that all rules and regulation5 are adhered to in term5 of data protection 3nd fundraising regulations. In March 2024, two new fundraising related policies were approved and introduced.. Donation Acceptance Policy and Process, and Scholarship Policies. Regional Study Centres We are unique among the Oxford colleges for our seven Regional Study Centres, each one focused on a different region of the world (Research Centres St Anton 's Colle ox.ac.uk l. The Centres provide the focus for the 5timul3ting intellectual life for which St Antony's is internationally known, and assist in developing our role as a source of policy advice globally. A short report from each Centre is provided below. African Studies Centre The ASC continues to be a vibrant and leading institution for the study of Africa. Our flagship MSC in African Studies degree ran smoothly under the adept stewardship of course director Peter Brooke and our principal administrator Amy Crane. Our steady and sustained increase in the proportion of African-origin students (currently between 60% and 65%) of our MSC cohort of 25-26 students is enabled by the generous provision of scholarships from, among other donors, Mastercard in collaboration with the Patrick Duncan family and St Antonys College and FirstR3nd. As the M35tertard Foundation 5chol8rships for African postgraduate students increases, we can anticipate a steady increase in the number of full- funded 5cholar5 of African origin, at Oxford University in general and at the African Studies Centre in particular. Scholars affiliated with the ASC had some quite marvellous academic achievements. Peter Brooke published exciting new research on 'Radio in Africa: Past and Present.. Rebekah Lee finalised her important book, called 'Death and Memory in Modern South Africa,, during sabbatical leave this vear. ASC Honorary Research Associate Wale Adebanwi won an extremely competitive Guggenheim Fellowship and his book 'How to Become a Big Man, will be published in August 2024 by Indiana University Press. Abigail Branford won a prestigious 3-year Leverhulme Research Fellowship for her fascinating project, Teachers versus the Memory Hole.. How Teachers Fight Nationalist History Curricula, Branford will commence the Leverhulme Fellowship in the ASC in the 2024-2025 academic year. In July 2024 1 will join the University of Cambridge as a Smuts Research Fellow untll May 2025.1 will work on a new book, called 'Coups D'état.. What They Are And Why They Are Back, lunder contract with Cambridge University Pressl, during the period of the Smuts Fellowship. In the ASC, we tried to create space in whlch genoclde, a key trisis in 2023-2024, could be discussed, unfettered, through this year'5 esteemed Annual Lecture, Transnational Feminism in an Age of Genocide,, which was delivered by the accomplished USA-based professor Amina Mama in May 2024. Our weekly African Studies Seminar featured a range of excellent talks about elections, social media and politics, authoritarianism, film studies. developmental states, a bioEraphy of Winnie and Nelson Mandela, queer studies, and China's support of anti-tolonial struggles in Angola and Congo.

The brilliant cast of scholars who gave these talks included Jonny Steinberg, George Karekwaivanane, Jodie Yuzhou Sun, Dan Hodgkinson, Tom Lavers, Rachel Taylor, 8iruk Terrefe, Rachel King and Pau13 Cristina Roque, amongst others. Asian Studies Centre The Centie continues to host two regular seminars for MSC and DPhil students- the Modern South Asian Studies seminar, and the Oxford Political ThoLJght Seminars wlth the Middle East Centre. Together, these cornpri5ed 21 events in 2023124. AloNg5ide these, the Centre hosted 4 special lectures, covering a wide range of topic and areas within Asia. These included a lecture by Rajmohan Gandhi with the title The Future of Democrocy in Indio, and, in collaboration with the China Centre, Rohan Mukherjee ILSEI speakin@ on Rising Powers (7nd the Politics of Status.- Chino ond Indij in the Liberal International Order. Later in the year Bangladeshi economist, diplomat, and politician Dr K Al)dul Momen spoke aFiout 8Gnglodesh und the Changing InternL7tlonol Order. In addition, our Visiting Academic Evelyn Goh IAustralian National University) gave a lecture during her vi51t.. A Region<entric Approoch to Internationul Relotions and Order in EastAsiG. Alongside the lectures were two book launche5'. Sov<Jrkor ond the M(yking of Hindutvo by Janaki Bakhle (University of California, Berkeley),. and The States of the Ejrth.. An Ecological and Racial History of 5eculorizotion by Mohamed Amer Meziane (Brown University); and the Centre hosted a screen of the film Kekee Mtsnzil- House of Art, followe(J by a discussion with the directors. In addition, the Centre hosted five conferences, including The India-china Dispute.. History, Politics ond Low, which brought together 20 international speakers for a two-day conference with Prof Kishore Mahbubani INUS, Singaporel giving the Keynote. Other conferences were the Taiwan Studies Conference, The Bangladesh Studies Network Conference, 3 Tamil Language Conference, and a three-day conference on Gender.. Post5, Presents, Futures, or8anised alongside the History Facultv, the Ashmolean Museum and TORCH, and funded by the Art and Humanities Research Council. The Centre also published five odcasts on the Universit website and distributed books from Tambapanni Academic Publishers in Colombo. Weapons of Persuusion (edited by Aalicia Schrikkerl was mailed out to university libraries globally. European Studies Contre The European Studie5 Centre hosted 34 events.. 27 seminars (nine in cooperation with SEESOX and one in cooperation with the Dahrendorf Programmel, four workshops (Deakin, Eastern Mediterranean, Dahrendorf Colloquium, and Weizsackerl and three keynote lectures. The ESC Annual Lerture was given by Ivan Krastev on Democrrjcy of the lost mun.. rhe polAtics of demographics imugintstion Ilune 20241. Guoni Thorlacius Johannesson, as President of Iceland and Antonian, gave a lecttjre entitled Where you stand depends Dn where you slt.. The challenge of being on ucodemic turned Head of Stote (February 20241. The Annual Dahrendorf Lecture was delivered bv Josep Borrell on Europefoced with two wars (May 20241 followed by the 2024 Annual Dahrendorf Colloquium, entitled Europe in o changing world. The ESC collaborated with the MEC, RESC and the Refugee Studies Centre for three events, respectively and with the College for the event with the President of Iceland. The Dahrendorf Programme received funding for another two years until September 2026, while SEESOX (South East European Studies at Oxford) organised nine events, including Albanian author Lea Ypi who presented parts of her forthcaming book Indignity, as well a5 a panel on the SO,

anniversary of the fall of dictatorships in Spain, Portugal and GTeece. In addition, SEESOX inaugurated 8 new programme on the Eastern Mediterranean region, acquiring funding from a number of private and public donors and foundations. The Eastern Mediterranean Programme orEanised Its inaugural conference entitled The Eust Med.. Regionalisation, geopolitical und geoeconomic dynomic5 on May 16-17, 2024. The ESC welcomed two new Governing Body Fellows- Catherine Briddick, the Andrew W Mellon Associate Professor of International Human Rights and Refugee Law,. and Federica Genovese, Professor of Political Science and International Relations. The Centre also hosted 3 numbe¥ of Vlsiting Fellows and Academic visltors, including the Deakln Vi51tlng Fellow, the EU Visltlng Fellow, the Dahrendorf Post Doc Fellow, 2nd the Richard von Wei25acker Visiting Fellow. After a year of meticulous preparztion, the ESC seminar room is hosting Timothy Garton Ash's book collection on European Irecentl history and politics,. the books are arranged by thematic category and country. The library will be officially opened on 24 October 2024 and will be available to the students, fellow5 and other academic visitors to use inside the European Studies Centre in a specially designated reading space. Nissan Institute of Japanese Studies The Nissan Institute Seminars continue to contribute to the rich and varied intellectual life of students and scholars of japanese studies. Seminars in 2023124 ranged from participatory dance and mime and Kabuki music performancè, to Buddhisrn and sexuality, geopolitics and international relations. The Japanese Politics Colloquium was followed by an international conference organized with support from the Embassy of japan in London to debate the meaning and strategic implications of the 'Free and Open Indo-Pacific.' Another highlight in Trinity Term was a presentation by and conversation with noted winner of the Akutagawa Prize, Mishima Yukio Prize and the Ueki Prize, novelist Sayaka Murata, author of Convenience Store Woman and other notable publications. Another highlight was the book launch of the volume Reopening the Opening ofjupon. InstitLJte faculty and former DPhils actively published last year, including Hu8h Whittaker's BuNlding o New Economy.. Japan s Digital and Green TrL7n5formation, Natalia Doan and Sho Konishi's edited volume of Bljck Trunsnjtionalism ondJopt7n, Lewis Bremner, Manimporok Dotulong and Sho Konishi'5 Reopening the Opening of Japon.. Tran5nutionulApprooches to Modern Jopon ¢ynd the Wider World, as well as numerous articles, and publications in japanese. Sho Konishi and Olga Solovieva's volume Jopon's Russia.- Challenging the Eost-west Poradigms received the 2023 ICAS international book prize for an edited volume. Professor Takehiko Kariya is retiring after 16 years at the Institute, and will be greatly missed. We held his Valedictory Lecture at the Nissan Institute Lecture Theatre attended by a large crowd. The intellectual life of the Institute continues to be enriched by its fellows, by its DPhil and other graduate students. and by the activities organized by the staff of the Bodleian Japanese Library. Latin American Centre (LACI This was another busy and satisfying academic year at the LAC. As we welcomed our new cohort of students in early October, we telebrated our network of former students and once 88ain, we held a

wonderful alumni d¥ink5 reception at the IN and Out Club on St James's Square in London, in conjunction with The Canning Club. We are very grateful for the support of the Argentine Educational Trust, which through the William de Segundo scholarship, continues to offer financial support to one of our students. We will be holding another alumni evening this coming autumn at the In and Out Club on October 18, Please keep an eye out for ticketsl It promises to be another fantastic evening. We also had another packed year of academic talks and seminars. Thls included the full schedule for the History Seminar and our own Main Seminal Series. Hi8hlights included the wonderful talk by our academic visitor, André5 Rugeles, who is currently the Vice-Pre5ident of the Colombian Foreign Affairs Council, and the Incredible full-day Brazilian Studies Programme Conference, which culminated in a wonderful keynote lecture from Ambassador Antonio de Aguiar Patriota, the Ambassador of Brazil to the UK. The activity of the LAC wouldn't be possible without the support of our alumni community through the Malcom Oeas Fund. Or the support of entities like the Argentine Educational Trust. Or the continued links and bridges we continue to build and establish with organisations like the CAF Development Bank and the Inter-American Development Bank. Thank you to you all. This academic year, we also hlred our new Associate Professor in Environmental Geo@raphy and Latin American Studies. Greg's research examines the pcjlitical ecology and political economy of development, global environmental governance, and agrarian politics and he also has a special interest in comparative, ethnographic, and action-research methodologies. Greg will be joining us this September. There was also a sad note to the year, however. Malcolm Deas, our long-time LAC colleague and friend, passed away peacefully at his home in North Oxford on 29 July 2023, at the age of 82. Malcolm was appointed as the University Lecturer in the Government and Politics of Latin America together with a Fellowship at St Antonvs in 1966 (when he was 251. He was one of the original staff at the Latin American Centre ILACI and served as Director of the LAC several times over the years. Malcolm's WOTk focused on the nineteenth and twentieth century history of Colombia and it is not hyperbole to state that he was a giant in his field. To honour the memory of Malcolm, the Bodlei3n LAC library put on a book display in the entrance hall of the Centre, featuring selections from Malcolm's published works in July of this year. Malcolm is 50rely missed by all the LAC Community. Once again, the academic year ended wlth our garden party. This year, we celebrated with Tim's band- a motley crew of the senior management of the Universityl A great night was had by all as the LAC academic year drew to 2 close once more. Middle East Centre The Hamas attack of 7 October 2023 came the Saturday before the start of term. Inevitably, given the centrality of Israel and Palestine to our work. this would prove a conflict that would test the Middle East Centre community. Our very first event, held on Tuesday 10 October, was a book talk by Nathan Thrall, author of A Day in the life of Abed Salomu.. A Polestine Story. At the start of a book tour that would face a strinB of cancellations, Nathan was accompanied by the subject of his book Abed Salama himself, to discuss the events leading to the death of his son in a school bus accident in the West Bank. All concerns for how the book, its author and its subject mlght be reteived were io

dispelled by the warmth of the capacity crowd in the Investcorp Lecture Theatre. Nathan and Abed received one of the longest ovations on record, and sold out the available copies of what proved to be a Pulitzer-prize winner in 2024. The Centie's weekly seminars drew outstanding speakers to Oxford across all three terms. In the autumn, we convened the seminar around the broad theme of 'contemporary Arab studies,, while, in Hilary Term, the seminar shifted from Friday to Monday to address the conflict in Gaza and the future of Isfael-Palestine relations and examine 'Politic31 Options Following the Gaza War., To enable the whole community to attend, including those who observe Shabat, the Centre chose to move the Hilary Seminar from its traditional Friday slot to Monday evenings. After an introductory session led by Centre Fellows. the subsequent speakers were Palestinian and Israelis scholars and activists. We recorded some of the largest audiences In Centre history in the course of the seminar, using the Board Room as an overflow venue by video link. The optimism of OLJr title was undermined by the intensified violence of the G323 War that was to r38e through the remainder of the academic vear and beyond. In Trinity Term, we held a number of book events and un-themed lectures, 3s well as the screening of a recent documentary film. The 46, George Antonius Memorial Lecture, 'What Gazans Think Before and After October 7, was given by Amaney Jamal, Dean of the Princeton School of Public and International Affairs and Edward S. Sanford Professor of Politics, on Thursday 13 June 2024. The Centre has awarded several scholarships during 2023124, including the Albert Hourani Scholarship to Mr Efe Erciyaz ILSEI, who will read for the M.Phil. in MMES. and Hadid Scholarships to two advanced doctoral students to assist in writing up their theses.. Ms Hande Altinayi for her thesis, 'Governing Epidemics.. Ottoman Rule in Baghdad, 1840-1900,, and Ms Irem Yildiz. for her thesis, 'Blindness in Late Ottoman State and Soclety11865-19151.' Beyond Oxford, the Centre h85 enjoyed a remarkable year of engagement with universities in the Middle East and North Africa. The highpoint of the year was on 4 March when Hazem 6en-Gacem and Eugene Rog3n met with the Minister of Higher Education in Tuni5 for the signing of an agreement establishing the Hazem Ben-Gacem Oxford Tunisia Exchange Programme. Th55 programme, established for an initial three-year period, provides a generously-funded exchange between Oxford and Tunisian univelslties. In the first year12024-20251, the programme will provide for three doctoral candidatés registered in Tunisian universities to spend one term each in Oxford. In the second ye8r, the programme will expand to provide visiting fellowships for three faculty members as well as three doctoral students from Tunisian universitie5 to come to Oxford each year. The Programme also provides funding to support language training for Oxford students in Tunisia, and seed funds for research and exchange opportunities for Oxford scholars to engage with universities and research institutes in Tunisia. The Programme has been made possible by the generous support of Hazem Ben-Gacem, with the involvement of both the British Embassy and the Tunisian Ministry of Higher Education. To initiate the Oxford side of the exchange, two scholarships of £IOOO were awarded to two MPhil students to pursue language training in Tunisia in summer 2024. Russian and Eurasian Studie5 Centre IRESCI li

RESC held 31 events last year, including a talk on 8 November 2023 by Stephen Kotkin, which was probably the best attended and the talk with the most intense discussion (the Nissan Lecture Theatre was full, and the talk lasted More than two hoijrs, instead of the usual 90 minLJtesl. Kotkin spoke about his work on the third volume of his Stalin biography. and drew parallels to the current situation in Ukraine. The Oxford-Georgia Forum took place for the third tlme on May 31, 2024, and was focused on the current political crisis in Georgia, Georgia's European aspirations and perspectives, role of soft power and public diplomacv. Michael Rochlitz joined RESC as Associate Profe550r in the Economies of Ru$5ia, Eastern Europe and Eurasia on I September 2023. Two bursaries Ithe Brown bursary and the Elliot kiursaryl and the Paul Bergen Scholarship were awarded to three of our students, while the Mlchael Kaser Thesis Prize was awarded to Roger Creus Villa for his MPhil thesis on mobile pastoralism and property relations in Kazakhstan, and the Ellzabeth Teague Prlze was awarded to William Mitchell Reid for his MPhil thesis on Slovo Klasslka and the political uses of Ilterature In contemporary Russia. Financial Review The College has had a strong financial year. supported by high levels of conerence business, higher Sncome from student fees and rents and good returns from bank interest due to higher interest rates. In actordance with our financial plan, we have repaid in fu51 the loan that had been used to support the refurbishment of the Hilda Be5se building. Looking ahead, there remain significant challenges and risks to be faced in the coming years, not only due to uncertainty in the wider economy, but also due to the increasing demands of our ageing estate, which requires investment. These and other factors may continue to affect our income and tost5 over the toming year, but we strive to ensure we can anticipate and manage the impact of the risks we face. Fina ncial results for 2023/24 The financial statements ère provlded below on pages 31 to 53. Total income for the year to 31 july 2024 amounted to £11.4 million compared to £11.8 million in the previous year, a slight fall of £0.4 million. Income from legacies fell from £3.2 million in 22123 to £0.8 million in 23124. This was offset by increases in other areas including additional £0.4 million in tuition fees, residential income growth of £0.4 million, endowed gifts towards the new DAC scholarship fund of £0.8 million and income from trading aclivity which rose from £0.4 mllliorb in 22123 to £0.7 million in 23124. Income 2023124 Sk hxifffromCh•kaNe Tr￿￿ £5*9k r4852k £fj74k 12

Expenditure 2023124 Expenditure during the year rose slightly from £8.6 million in 22123 to £8.7 million in 23124. £2k . £59& (harfIa￿￿tI4N¢$.5￿fkn6 . ql55k a79k- In a similar way to income the increase in expendittjre reflects a combination of factors. Whilst higher costs arose from the increased level of trading activitv expenditure in other areas was lower. Two issues are worthy of particular note, firstly the impact on the elimination of the remaining pension fund deficit and secondly a reduction bank loan interest as a resLJIt of repayment of the all outstanding bank loans in the year. rAT¢cteoSts 9worr& L4x*mMre £L9¥2k £3.307k Funds and balance sheet The value of net asset5 of the College rose to £94.0 million as at 31 July 2024 from £88.4 million at the same point in the previous year. However, there were some significant movements between asset classes, which are outlined in detail below. The value of tangible fixed assets fell by £0,5 million to £32.4 million, largely as a result of depreciation. Other Investments rose in v31ue from £57.2 million to £59.6 million due to capital galns on the value5 of investments held. Cash balances rose slightly from £1.6 million to £1.7 million despite the repayment of the outstanding loans balance of £2.0 million in the year. The loan repayment also led to a reduttion in the value of creditors from £3.3 million to Él.1 million. Reserves The medium-term financial plan of the College is to target an unrestricted Surplus of income over expenditure over the coming five years in order to replenish the general reserve and meet a target ol holding Sufficient free reserves to cover three months of expenditLJre. The College's reserves policy is to maintain suffitient general reserves to enable it to meet its short- term financial obligations in the event of an unexpected revenue shortfaS1 and to provide a buffer that would ensure uninterrupted services. However, the level of these reserves fell below zero at the end of the financial year140.1 million against a target of £1.6 millionl, lar8ely as a result of the elimination of the pension fund deficit and the repayment of bank loan debt. Plans are in place to return the level of general reserves above zero. Total funds of the College and its subsidiaries at the year-end amounted to £94.0 million. An analysis of funds held by the College is provided in note 20 of the accounts and further details are provided in note 21. 13

The value of Endowments rose from £56.5 million to £60.2 million during the year. This movement included an unrealised capital gain of £2.9 million, investment income of £2.0 million, the addition of new gifts valued at £0.8 rllillion and the transfer of £1.2 million of warranted income from the general endowment to unrestricted general reserves. Restricted funds fell by £0.2 million to £12.0 million. Total unrestricted reserves rose by £2.2 million to £21.9 million, but within this there wa5 a significant shift from general reserves to designated fixed assets as a result of the repayment of loan debt that had financed capital works on the Hilda Besse building. There was also a transfer of £0.8 million from the pension fund liability to general reserves, as a result of the elimination of pension ftjnd deficits. Vélue of Fund5- 315t July 2024 EZL35 M t15.09 M End￿￿1V￿ • HesJkndFuNlb UnTethdFw £ILOI M £28.89 M £16.18 M Investment policy, objectives and performance The College continues the process of switching the management of our endowed funds from our existing fund managers to Oxford University Endowment Management IOUEMI. In order to minimise risk, this transfer is being undertaken in stages. The College's investment objectives ale to balance tu¥rent and future beneficS8ry needs bv.. Maintaining lat least) the value of the investments in real terms. Producing a consistent and sustainable amount to support expenditure. Delwering these objectives within acceptable levels of risk. To meet these objectives, the College's investments as a whole are managed on a total return basis, maintaining diversification across a range of asset classes in order to produce an appropriate balance between risk and return. In line with this approach, the College st8tute5 allow the College to invest permanent endowments to maximise the related total return and to make available for expenditure each year an appropriate proportion of the unapplied total return. At the end of the financial year, the College's long-term investments, combining the Securities and property investments, totalled £59.6 million which represents an increase of £2.3 million compared to the same point in the previous year. The increase was largely due to an unrealised gain in the capital value of investments. The total return on investments was +8.43% compared to the target return of +7.90%. The carrying value of the preserved permanent capital and the amoijnt of any unapplied tot31 return available for expenditure wa5 taken as the open market values of these funds as at l Au8USt 2002 together with the original gift value of 311 subsequent endowment received. On the total retuin basis of investlng, the College extracted a5 income 4.25% (plus costs) of the value of the relevant investments. However, to smooth and moderate the amounts withdrawn this 4.25% is calculated on the average of the year end values in each of the last five. 14

The Governing Body will keep the level of income withdrawn under review to balance the needs and interests of current and future beneficiaries of the College's activities. Risk5 and uncertainties The College has on-going processes whi¢h operate throughout the financial year for identifying, evaluating and managing the principal risks and uncertainties faced by the College and its subsidiaries. When we are unable to address risk issues using internal resources, we take advice from external advisers with specialist knowledge. Policies 2nd procedures within the College are reviewed by the Management Executive Team, chaired by the Warden. The Head of Operations & Estates and their team meet regularly to review health and safety issues, including via a termly Health & S3fety Forum which also encompasses olleagues who work in other areas and provides toolbox talks and suchlike. Training courses and other forms of career development are 8vailable to members of staff to enhance their skills. The Governing Body, who have ultimate responsibillty for managing any risks faced by the College, have reviewed the processes in place for managing risk and the principal identified risks to which the College and its subsldiaries are exposed and have concluded that adequate systems are in place to manage these risks. The principal strategic risks faced by the College and its subsidiaries are categorised as.. Building failure Politic31 events Cyber incidents Compliance failure Governance failure SerioLJS welfare incident Business coritinuity in the face of external events Failure to ensure financial sustainability. These are detailed further in the College's latest risk register. Structure, governance and management St Antony's College in the Uriiversity of Oxford, which is known as St Antony's College 1.the College"), is a chartered charitable corporation. It was founded by Monsieur Antonin Besse under a Royal Charter of Queen Elizabeth11, dated l April 1953. The corporation comprises the Warden and Fellows. The College was formerly an exempt ch8rity under s315al Charities Act 1993 las listed in Schedule 2lbl to that Act). The College registered with the Charities Commission on 11 April 2011 (registered number 11412931. The College's Governing Body is its Board of Trustees, comprising the academic Fellows of the College as well as its Warden and Bursar. The Governing Body meets six times per year and holds occasional meetings for exceptional bu5ine55 if necessary. The names of all members of the Governing Body at the date of thi5 report and of those in office duTinE the year, together with details of the senior staff and advisers of the College, are given on pages 18-19. Governing documents The Colle8e 15 governed by its Statutes dated February 2011 and its By Laws. The College's objects, described in its Statutes, are to provide men and women who are members of the University of Oxford with a College whereln they may work for higher degrees in the University of Oxford or 15

engage in academic research especially in the disciplines of the soclal sciences and the humanities and a range of other subject areas as approved by the Governing Body and to do all other such things as are incidental or conducive to advancing education and academic research in Oxford or elsewhere. Governing Bodv The Governing Body is constituted and regulated in accordance wlth the College Statutes, the terms of which are enforceable ultimately by the Visitor, who is the Crown. The Governing Body is self- appointing. The members of the Governing Body normally meet six times a year. The procedure for electing new members of the Governing Body is as follows.. Governin8 Body shall determine who shall represent the College on a selection committee for a Governing Body Fellow. The College is represented on the electoral board for the election of Governing Body Fellows whose appointment depends on their appointment to a Univer51ty post. The Warden will sijbmit a proposal for the election of a Governing Body Fellow to Governing Body. Such a proposal to Governing Body will alway5 be supported by a CV and application materials. A Governing Body Fellow who hold5 a University post shall vacate their Fellowship and any office whlch they hold in the College on reslgning or otherwSse vacating their University post. The Governing Body determines the ongoing strategic direction of the College and regulates its administration and the management of its finances and assets. It meets regularly, chaired by the Warden, and is advised its sub-committees, described below. Recru itment and tra ining of member5 of the Governing Body New members of the Governing Body are recruited based on the following criteria.. Persons elected at the discretion of the Governing Body whose elertion shall not depend on their appointment to a University post. The holders of established University Professorships and statutory University Readerships and by those who become Professors or Readers in a Recognition of Distinction exercise. The holders of other Offices of the University who are declaied eligible by any Statute or Decree of the Universitv. Persons who are appointed to a jolnt University and College post or who are appointed to 8 UniversSty post allocated to the College. They are elected using the procedure outlined above and inducted into the workings of the College, including Governing Body policy and procedLJres, through the provision of an induction pack and meetings with the Warden, the Bursar and the Senior Administrative Officers. A15 members of the Governing Body have received a topy of the 'Essential Trustee. booklet and are invited to join the Trustee training sessions organised by the Conference of ColleÉes. Trustees are kept informed on current issues in the sector and on regulatory requirèment5 via Governing Body meetings and email as appropriate, and are invited to the trustee training offered via the Conference of Colleges on a regular basis. During 2023124, the Gove¥ning Body have continued to review the College's governance model, supported by the Governance Working Group and legal advice, and reached a decision at the end of the year to Create a trustee council for strategic matters, while Governing Body will continue to offer overall academic direction. We will work through the details of the new institutional arrangements in the coming year. 16

Remuneration of Mem bers of the Governing Body and Senior College Staff Members of the Governing Body who are primarily Fellows are teaching and research employees of the College or University and receive no remuneration or benefits from their trusteeship of the College. Those trustees that are also employees of the College receive remLJneration for their work as employees of the College. Remuneration is set based upon the advice of the College's Remuneration and Conflirts of Interest Advisory Board which tomprises notable College alumni with experience in this area and Higher Education. Where possible, remuneration is set in line with that awarded to the University's academic staff. Sub-committees The work of developing College policies and monitoring the implementation of these 15 mainlv carried out by the Management Executlve Team which consists of the following College Officers.. the Warden, Sub-warden, Dean, Senior Tutor, Governing Body Delegate for Finance 2nd Tutor for Admissions, Bursar, and the Graduate Common Room President. Governin8 Body and the Management Executive Team are advised by.. The Remuneration and Conflicts of Interest Advisory Board (external membership only) The EDI Advisory Board (external membership onlvl Ad-hoc committees and working groups which are established from time to time according to need, e.g. Green Impact Team, Governance Working Group. The day-to-day running of the College is delegated to the Warden, supported by the Bursar and the College's Senior Administrative Officers. The Warden andlor Bursar attend all meetings of the Governing Body's Committees. Subsidiaries and interdependencies The College administers many special trusts, as detailed in Notes 20 and 21 to the financial statements. The aims set for the College's subsidiaries are to help finance the achievement of the College's aims as above. The College has two wholly owned non-charitable subsidiaries.. St Antony's College Trading Limited, whose annual profits are donated to the College under the Gift Aid Scheme, and St Antony's College Estates Limited, which undertakes College building works. The trading activities of St Antony's College Trading Limited primarily comprise revenue from letting of the College facilities when not in use by the College. The College also has a 20% shareholding in North Oxford College Shared Services Limited, which is a cost sharing group providing IT services to St Antony's College, St Hugh's College and Lady Margaret Hall, Green Templeton College 3nd Wolf50n College. The subsidiaries, aims, objective5 and achievements are covered in the relevant sections of this report. The College 15 part of the collegiate University of Oxford. Material interdependencies between the University and the College arise as a consequence of this relationship. Members of Governing Body 2023124 The Members of the Governing 8ody are the College's charity trustees under charlty law and the members who served in office during the year or subsequently are detailed overleaf. 17

Name Dr Maryam Alemzadeh rofessor Roy Allison rofessor Walter Armbrust r Tanya Baldwin IBursarl Professor Paul Betts Dr Catherine Briddick Dr Lenka Bustikova Professor Paul Chai5ty Dr Eric Chaney Dr Simukai Chigudu Professor Faisal Devji Professor Timothy Garton Ash Dr Federica Genovese Professor Roger Goodman (Warden- on Trustee whole year lunle5S $tatedl MET 2023114 From I September 2023 Until I September 2023 Until 30 September 2023 From I January 2024 Professor Nandini Gooptu (Acting Wardenl Professor Doug Gollin Dr Irem Guceri Until 31 August 2023 Dr Thomas Hale Professor Raihan Ismail Dr David Johnson Professor Dominic lohnstsn Professor Takehiko Kariya Dr Neil Ketchlev Dr Sho Konishi Professor Miles Larmer Dr Amir Lebdioui From 7 August 2023 Until 15 August 2023 From I September 2023 From I September 2023 Dr Jonathan Lusthaus Professor Laurent Mignon Professor Rachel Murphy Professor Leigh Ann Payne Professor Timothy Power Professor David Pratten Dr Michael Rochlitz From I September 2023 Professor Eugene Rogan Professor Diego Sanchez-Ancochea Professor Ramon Sarro Professor Kate Sullivan de Estrada Professor Miles Tendi DK Timothee Vlandas Professor Hugh Whittaker Dr Michael Willis Dr Zbigniew Wojnowski 18

COLLEGE SENIOR STAFF The senior staff of the College to whom day to day management was delegated in 2023124 are as follows.. Head of Academic Office Head of Finance & IT Development Director Head of Operations & Estates (Domestic Bursar until l May 20241 HR Manager IT Manager Librarian Mrs F McNamara Mr W Garnett Mr W te Kloeze Mr M Morgan (until 14 February 20231,. Miss D Natanson Ifrom l May 20241 Ms A Marsh311 Mr A Prasath (from 18, September 20231 Mrs A Burlakova COLLEGE ADVISERS Investment managers BlackRock, 12 Throgmorton Avenue, London, EC2N 2DL Cambridge Associates Ltd, 62 Buckingham Gate, London, SWIE 6 Partners Capital LLP, 5th Floor, 5 YoLJng Street, London, W8 5EH Oxford Universlty Endowment Management, King Charles HoLJse, Park End Street, Oxford, OXI IJD Audltor Critchleys Audit LLP, First Floor, Park Central, 4041 Park End Street, OXI IJD Bankers Royal Bank of Scotland, Royal Bank of Scotland, 135 Bishops&ate, London, EC2M 3UR. Lloyds Bank, 10 Gresham Street. London, EC2V 7AE Surveyor5 Bidwells, Seacourt Tower, West Way, Oxford, OX2 OJJ College address 62 Woodstock Road, Oxford, OX2 6JF Website WWW.5ant.ox.ac.uk 19

Statement of Accounting and Reporting Responsibilities The Governing Body is responsible for preparing the Report of the Governing Body and the financial statements in accordance with applicable law and regulations. Charity law requires the Governing Body to prepare financial statements for each financial year. Under that law the Governing Body have prepared the financial statements in accordance United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl, including Financial Reporting Standard 102.. The Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS 1021. Under charity law the Governlng Body must not approve the fin3ncial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Col￿ge and of its t)et income or expenditure for that period. In preparing these financial statements. the Governing Body is required to.. select the most suitable accounting policies and then apply them consistentlyt make judgments and accounting estimates that are reasonable and prudent,. state whether applicable accounting stand3rds. including FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements,. state whether 3 Statement of Recommended Practice ISORPI applie5 and ha5 been followed, subject to any material departures which are explained in the financial statements,. and prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the College will continue to operate. The Governing Body is responsible for keeping proper accounting records that are sufficlent to show and explain the College's transactions and disclose with reasonable accuracy at any time the Inancial position of the College and enable them to ensure that the financial statements complv with the Charities Act 2012. They are also responsible for safeguarding the assets of the College and ensuring their proper application under charity law and hence for takSng reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Governing Body on 4 December 2024 and signed on its behalf by- Professor Roger Goodman Iwardenl 20

Independent Auditors, Report to the Trustees of St Antony's College Opinion We have audited the financial statements of St Antony's College Ithe"Charitfl for the year ended 31 July 2024 which comprise the Statement of Accounting Policies, the Consolidated Statement of Financial Activities, the Consolidated and College Balance Sheets, the Consolldated Cash Flow Statement and notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and U nited Kingdom Accounting Standards, including Financial Reportin8 Standard 102.. The Financial Reporting Standard applicable in the UK and RepLJblic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the group and ch3ritrfs affairs as at 31 July 2024 and of the group's income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. have been prepared in accordance with the requlrements of the Charities Act 2012. Basis for opinion We conducted our audlt in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law, Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial staternents section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in ac¢ordan¢e with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the Members of the Governing Body's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any m3terial untertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability lo continue as a going concern for 3 period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Members of the Governin8 Body wlth respect to going concern are described in the relevant sections of this report. Other informatlon The Members of the Governing Body are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other nformation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inttsnsistencies or apparent material 21

misstatements, we are required to determine whether there is a m3terial misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mi55tatement of thi5 Other information, we are required to report that fart. We have nothing to report in this regard. Matters on which we are requlred to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 require5 US to report to you if, in our opinion.. sufficient accounting records have not been kept. the financial statements are not in agreement with the 3¢¢ounting records 2nd returns,. or we have not obtained all the information and explanations necessary for the purposes of our audlt. Responsibilities of the Members of the Governing Body As explained more fully in the Statement of Accounting and Reporting Responsibilities Iset out on page 201, the Members of the Governing Body are responsible for the preparation of the financial statements and for being sat15fied that they give a true and fair view, and for such internal control as they determine is necessa¥y to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial 5tatement5, the Members of the Governing Body are responsible for assessing the Charity's ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the Members of the Governing Body either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. Audltorfs responsibilltles for the audit of the financial statements We have been appointed as auditor under Section 144 of the Charities Act 2011 and report in accordance with the Att and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the finantial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditols report that includes our opinion. Reasonable assurance is a high leve1 of assuran￿, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Our approach to identifying and assessing the risks of material misstatement in respect of rregularities, including fraud and non-compliance with laws and regulation5, was as follows.. 22

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilitie5 and skills to identify or recognise non-compliance with applicable laws and regulation5,' we identified the laws and regulations applicable to the charity through discussions with Membe15 of the Governing Body and other management, and from our knowledge and experience of the clienvs sector,. we focused on specific laws and regulations which we considered may have a direct material effect on the financial 5tatemeNts or the operations of the charity, including Charities Act 2011, Office for Student5 and Oxford University requirements, taxation legislation, data protection, employment and pensions, planning and health and s3fety logislalion.. we assessed the extent of compliance with the laws and regulations identified above through making eNquirie5 of managemènt and, where relevant, inspectinE legal correspondence,. and identified laws and regLJlations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud mighi occur, by: making enquiries of Members of Governing Body and other management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud- and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations,. To address the risk of fraud throLJgh management bias and override of controls, we.. performed analytical protedures to identify any unusual or unexpected relationships. tested journal entries to identify unusual transactions- assessed whetherjudgements and assumptions made in determining the accounting estimates were indicative of potential bia5,' and investigated the rationale behind significant or Ljnusual transactions; In response to the risk of irregtjlarities and non-compliance with laws and regulations, we designed procedure5 which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation,. reading the minute5 of meetings of those charged with governance.. enquiring of management as to actual and potential litigation and claims,- if considered necessary, reviewing correspondence with relevant regulators and the charitvs legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the le55 likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non- compliance with laws and regulations to enquiry of the Members of Governing Body and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detett than those that arise from error as they may involve deliberate concealment or collusion. 23

A further description of our respon5ibllities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or auditorsres onsibilities. This description forms PBrt of our auditor's report. Use of our report This report is made solely to the charity's Trustee5, as a body, in accordance with Part 4 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charit¢s Trustees those rnatter5 we are required to State to them in an aLJditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for our audit work, for this report, or for the opinion5 we have formed. Critchleys A dit LLP Statutory Auditor First Floor, Park Central, 40-41 Park End Street, OXI IJO Date. q Iiil Critchleys Audit LLP Is eligible to act as an auditor in term5 of sections 1212 of the Companies Act 2006 24

Accounting Policies Scope of financial statements The financial statements present the Consolidated Statement of Financial Activities ISOFAI, the Consolidated and College Balance Sheets and the Consolidated Statement of Cash Flows for the College and its wholly owned subsidiaries St Antony's College Trading Limited and St Antonvs College Estates Limited. The subsidiaries have been consolidated from the date of their formation being the date from which the College has exercised control through voting rights in the subsidiaries. No separate SOFA has been presented for the College alone as permitted by the Charity Commission on a concessionary basis for the filing of consolidated financial statements. A summary of the results and finantial position of the charity and each of its material subsidiaries for the reporting year are in note 14. Basis of accounting The College's individual and consolidated financial statements have been prepared in accordance with United Kingdom Accounting Standards, in partitular'FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland, IFRS 1021. The College is a public benefit entity for the purposes of FRS 102 and a registered charity. The College has therefore also prepared its individual and consolidated financial statements in accordance with rhe Statement of Recommended Piactice applicable to charities preparing their financial statements in accordance with FRS 102, (The Charities SORP IFRS IQ1211. The financial statements have been prepared on a going concern basis and on the historical cost basis, except for the rneasurement of investments and certain financial assets and liabilities at fair value with movements in value reported within the Statement of Financial Activities ISOFAI. The pyincipal accounting policies adopted are set out below and have been applied consistently throughout the year. Accounting judgements and estimation uncertainty In the view of the Governing Body, in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts Tecognised in the financial statements. In the view of the Governing Body, no assumptions conceining the future or estimation uncertainly affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their c3rrying amounts in the next financial year. Income recognition All income is recognised once the College has entitlement to the income, the economic benefit is probable and the amount tan be rellably measured. a. Income from fees, the Office for Students and other charges for servlces Fees receivable, less any scholarships, bursaries or other allowances granted from the College Ljnrestricted funds, sUPPOrt from the Offlce for Students and charges for services and use of the premises are recognised in the period in which the related service is provided. b. Income from donationsi grants and legacies Donations and grants that do not impose specific future performance-related or other specific conditions are recognised on the date on which the charity ha5 entitlement to the resource, the amount can be reliably measured and the economic benefit to the College of the donation or grant is probable. Donations and grants subject to performance-related conditlons are recognised as and when those conditions are met. Donations and grants subject to other specific 25

conditions are reco8nised as those conditions are met or their fulfilment 15 wholly within the control of the College and it 15 probable that the specified conditions will be met. Leg8cies are recognised following grant of probate and once the College has received sufficient information from the execLJtorlsl of the deceased's estate to be satisfied that the gift can be reliably measured and that the economic benefit to the College is probable. Donation5, grants and legacies accruing for the general purposes of the College are credited to unrestricted funds. Donations, grat)ts and legacies which are subject to conditions as to their use imposed by the donor or set by the term5 of an appeal are credited to the relevant restricted fund or, where the donation, grant or legacy is reqLJired to be held as capital, to the endowment funds. Where donations are received in klnd las distinct from cash or other monetary assets), they are measured at the fair value of those assets at the date of the gift. c. Investment in¢ome Interest on bank balances is accounted for on an accrual basis with interest recognised in the period to which the interest relates. Income from fixed interest debt securities is recognised using the effective interest rate method. Dividend income and similar distributions are recognised on the date the share interest becomes ex-dividend or when the right to the dividend can be established. Income from investment properties 15 recognised in the period to which the rental income relates. Expenditure Expenditure 15 accounted for on an accruals basis. A liability and related expenditure Is recognised when a legal or constructive obligation commits the College to expenditure that will probably require settlement, the amount of which can be rellably measured or estimated. Grants awarded that are not perform3nce-related are charged as an expense as stson as a legal or constructive of)ligation for their payment arises. Grants subject to performance-related conditions are expensed as the specified conditions of the grant are met. All expenditure including support costs and governance costs are allocated or apportioned to the applicable expenditure categories in the Statement of Financial Activities (the SOFA). Support costs, which Includes governance costs Icosts of complying with constitutional and statutory requirements) and other indirect costs are apportloned to expenditure categories in the SOFA based on the estimated amount attributable to that activity in the year, either by reference to staff time or the use made of the underlying assets, a5 appropriate. Irrecoverable VAT is included with the item of expenditure to which it relates. Intra-group sales and charges between the College and its subsidiaries are excluded from trading income and expenditure in the consolldated financial statements. 26

Leases Leases of assets that transfer substantially all the risks and rewards of ownership are classified as finance leases. The cost5 of the assets held under finance leases are included within fixed assets and depreciation is charged over the shorter of the lease term and the assets, useful lives. Assets are assessed for impairment at each reporting date. The corresponding capital obligations under these leases are shown as liabilities and recognised at the lower of the fair value of the leased ssets and the present value of the minimLJm lease payments. Lease payments are apportioned between capital repayment and finance charges in the SOFA so as to achieve a constant rate of interest on the remaining balance of the liabilitv. Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Rentals payable under operating leases are charged in the SOFA on a straight-line basis over the relevant lease terms. Any lease incentives are recognised over the lease term on a 5tralght-line basls. Tanglble flxed assets Land is stated at cost. Buildings and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Expenditure on the acquisition or enhancement of land and on the acquisition, construction and enhancement of buildings which is directly attributable to bringing the asset to its working condition for its intended use and amounting to more than £IO.000 together with expenditure on equipment tosting more than £io,aoo is capitalised. Where a part of a building or equipment is replaced and the costs capitalised, the carrying value of those parts replaced is dereco8ni5ed and expensed in the SOFA. Other expenditure on equipment incurred in the normal day-to-day running of the College and its subsidiaries is charged to the SOFA as incurred. Depreciation Depreciation is provided to write off the cost of all relevant tangible f1xed as5et5, less their estimated residual value, in equal annual instalments over their expected useful economic lives as follows.. Freehold properties, Including major extensSons 50 years Building improvements 25 years Refurbishment of Student Accommodation 10 years Equipment and Software 4- 10 years Freehold land is not depreciated. The cost of maintenance is charged in the SOFA in the period in which it is incurred. At the end of each reporting period, the residual values and useful lives of assets are reviewed and adjusted if necessary. In addition, if events or change in tircumstances indicate that the carrying value may not be recoverable then the carrying values of tangible fixed assets are reviewed for impairment. 27

Investments Investment properties are initially recognised at their cost and subsequently measured at their fair value (market value) at each Teporting date. Purchases and sales of investment properties are recognised on exchange of contracts. Listed investments are initially measured at their cost and subsequently measured at their fair value at each reporting date. Fair value is based on their quoted price 3t the balance sheet date without deduction of the estimated future selling costs. Investments such a5 hedge funds and private equity funds which have rbo readily identifiable market value are initially measured at their costs and subseqLJently measured at their fair value at each reporting date without dedLJCtion of the estimated future selling costs. Falr value Is based on the most recent valuations available from their respective fLJnd managers. Change5 in fair vèlue and gèins and losses arising on the disposal of investments are credited or charged to the income or expenditure section of the SOFA as 'gains or losses on investments, and are allocated to the fund holding or disposing of the relevant investment. io. Other flnancial instruments Cash and cash equivalents Cash and cash equivalents include cash at banks and in hand and short-term deposits with a maturity date of three months or less. Debtors and credltors Debtors and creditors receivable or payable within one year of the reporting date are carried at the at transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest. ii. Stocks Stocks are valued at the lower of cost and net realisable value, cost being the purchase prlce on a first in, first out basis. 12. Forelgn currencie5 The functional and presentation currency of the College and Its subsldiaries is the pound sterling. Transartions denominated in foreign currencies during the year are translated into pounds sterling using the spot exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into pounds sterling at the rates applying at the reporting date. Foreign exchange gains and losses resultlnE from the settlement of transactions and from the translation of monetary assets and liabilities denominated in foreign Currencles at the exchange rates at the reporting date are recognised in the income and expenditure section of the SOFA. 28

13. Total Return investment accounting The College statutes authori5e the College to adopt a 'total return, basis for the investment of its permanent endowment. The College can invest its permanent endowments without regard to the capitallincome distinttions of standard trust law and with discretion to apply any part of the accumLJlated total return on the investment as income for spending each year. Until this power is exercised, the total return is accumulated as a component of the endowment known as the unapplied total return that can be either be retained for investment or release to income at the discretion of the Governing Body. 14. Fund accounting The total funds of the College and its Subsidiaries are allocated to unrestricted, restricted or endowment funds based on the terms set by the donors or set by the terms of an appeal. Endowment funds are further sub-divided into permanent and expendable. Unrestricted funds can be used in furtherance of the objects of the College at the discretion of the Governing Body. The Governing Body may decide that part of the unrestricted funds shall be used in future for a specific purpose and this will be accounted for by transfers to appropriate designated funds. Restricted funds comprise gifts, legacies and grants where the donors have specified that the funds are to be used for particular purposes of the College. They consist of either gifts where the donor has specified that both the capital and any income arising must be used for the purposes given or the income on gifts where the donor has required or permitted the capital to be maintained and with the intention that the income will be used for specific purposes within the College's objects. Permanent endowment fLJnds arise where donors specify that the funds are to be retained as capital for the permanent benefit of the College. Any part of the total return arising from the capital that 1$ 211ocated to income will be a¢counted for as unrestricted funds unless the donor has placed restrictlons on the use of that income, in which case it will be accounted for as a restricted fund. EKpendable endowment funds are similar to permanent endowment in that they have been given, or the College has determined based on the circumstances that they have been given, for the long-term benefit of the College. However, the Governing Body may at their discretion determine to spend all or part of the capit81. 15. Pension costs The College participates in the Universities Superannuation Scheme IUSSI and the University of Oxford Staff Penslon Scheme IOSPSI. These schemes are hybrid pension schemes, providing defined benefits as well as benefits based on defined contributions. The assets of each scheme are held in a separate trustee-administered fund. Because of the mutual nature of the schemes, the assets are not attributed to individual employers and scheme-wide contribution rates are set. The College is therefore exposed to actuarial risks associated with other employers, employees and is unable to identify its share of the underlying assets and liabilities of the schemes on a conslstent and reasonable basis. As required by Section 28 of FRS 102 'Employee benefits" the College therefore accounts for the scheme5 as if they were wholly defined contribution schemes. As a result, the amount charged to the profit and loss account represents 29

the contributions payable to each scheme and any deficit recovery contributions payable under a Scheme recovery plan. Where a scheme valuation determines that the scheme is in deficit on a technical provisions basis las was the case following the 2020 USS valuation), the trustee of the scheme must agree a Recovery Plan that determines how each employer within the scheme will fund an overall deficit. The College recognises a liability for the contributions payable that arise from such an agreement (to the extent that they relate to a deficit) with related expenses being recognised through the intome statement. Further disclosLJres relating to the deficit recovery liability can be found in note 24. FRS 102 makes the distinction between a group plan and a multi-employer scheme. A group plan consists of a collection of entitles under common control typically wlth a sponsoring employer. A multi-employer scheme is a scheme for entities not under common control such as Universitles SLJperannuation Scheme and OSPS. The accounting for a multi-employer scheme where the employer has entered into an agreement with the scheme that determines how the employer will fund a deficit results in the recognition of a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) and the resulting expense in profit or loss in accordance with section 28 of FRS 102. The Trustees are satisfied that USS and OSPS meet the definition of a multi-employer scheme and where deficit recovery plans have been in place in past years, the College has recognised its share of the deficit plans place on both schemes (see note 241 The pension deficits recorded are dependent on estimates of future employment patterns and interest rates. The effects of changes to these assumptions are shown in note 24. 30

Statement of Financi31 Activities st >￿tOn￿$ Coll•ge - Consolidatod Stst•nnt of Flnancial kntlvitias For the ￿ar ended 31 July 2024 Unrestricted Restricted Endowed Fund8 Funds Funds £'ooo £'ooo £'ooo 2024 Total 2023 Totsl rooo Notss INCOME ENDOWMENTS FROM.. Charltable actlvlties.. Teaching. ￿searCh and rgsldenlral Other Tradlng Income Donations and k8gacle8 Investnnts Investment incom8 Total return allocated to incotn& Olher income Total incon 5,384 674 832 5.389 674 2.852 4,473 405 4,591 1.251 759 396 2,012 12,0011 2,408 2,300 15 75 2,161 75 11.398 8,457 780 11,772 EXPENDITURE ON: Charltable actlvitle$: Teaching, research and resident￿1 5.460 2,289 7.749 Goneratlng funds.. Fundraising Trading expendiluT8 Inv8stmenl rn8nagem8nt costs Total Exp8ndttur• 346 598 346 598 369 306 6,406 2.289 8,695 8,842 Net Incorr*llExpendlturel before gzlns 2,051 1128 2.Y03 3,130 N81 gainsllk)55asI on investments 2,847 2,901 12,4201 Net IncoThllExpendsturel 2,105 11281 3,627 S,604 710 Transfers bet￿￿en funds 20 87 1711 N81 nTr)vement In funds fgr th9 yoar Fund balances brought forward 2,192 3,611 5,604 710 20 19.658 12,236 66,541 88,435 87.724 Fund5 Carried forward at 31 July 21,850 12.037 60,152 94,039 88,434 31

Consolidated and College Balance Sheet st Antony's College - Consolldated and Collegè Balance Sheets As at 31 July 2024 2024 Group £'ooo 202 Group £'ooo 2024 College £'ooo 20 College roco Notss FIXED ASSETS Tangitsle 88set8 Heritage assets Property In￿tmentS Other In￿tMentS 10 32,364 32,809 32,364 32.809 12 13 55 59.576 110 57,190 55 59,576 110 57,19) Total Fixed Assets 91,995 90,109 91,995 go,109 CURRENT ASSETS Stocks Debtors stments Cash at bank and in hand 29 1,397 21 767 29 1,396 16 1.689 1,627 1,629 1,545 Total Current Assets 3.115 2,415 3,OS4 2.1 LIABILITIES Creditors". Amounts trdlling due wlhin one year 17 1,071 3.343 1,010 3,124 CURRENT ASSEfsi{LIABILITIESI 1928} 19281 TOTAL ASSETS LESS CURRENT LIABILITIES 94,039 89,181 94,039 89,181 CREDITORS.. fallln9 due after more than one year 18 Provl*ons for Ilablllties and charyes NET ASSETSIILIABILITIESI BEFORE PENSION ASSET OR LIABILITY 94.039 89,181 94,039 89,181 Dèflned bènefit pènsion schern• Ilability 24 746 TOTAL NET ASSETSIILIABILITIESI 94,039 88,435 94,039 88,435 FUNDS OF THE COLLEGE Endowmentfunds Re8trlcted funds 20 20 60,152 12,037 56,541 12,236 60,152 12.037 56,541 12,236 Unrestricted funds Designated ￿[KIS General fvnds Pension Fund ￿8t￿lItY 20 20 20 21,996 11461 19,991 413 17461 21,996 11461 19,991 413 461 94.039 88,435 94,039 88,435 The financial statememts were 5pprO￿ and aulhorised for issue by the Goleming Body ol St Antony¥ College on 4th December 2024 Trustee.. Trustee.. 32

Consolidated Statement of Cashflows St Antony'5 Collog& - Consolidated Statoment of Cash Flows For the yèar ended 31 July 2024 2024 £'ooo 2023 ro Not9$ Net cash provlded by Iu5ed Inl operating a¢tlvltles 27 19761 1,430 Cash flows from investing a¢tivltles DI￿dendS, interest and rents from In￿StmentS Proceeds from thè sale of property. plant and equipment Purchase of property, plant and equipmtsnl Proceeds from sale of In￿StmentS Purchase of in*stmenls Net cash provSded by (used inl Investlng activitlgs 2.408 2,300 17091 570 12701 751 11.9561 825 2,269 Cath flows from financing activi119S Repaymenls of borrowng Cash inflows from new borrwng Receipt of endowment Net cash provld8d by (used In} finan¢lng activities 12,0001 (5,0001 769 1,2311 172 4,8281 Changa in cash and cash equivalents In tha reporting period 62 12,5731 Cash and cath equivalents at the beginnlng of the reporting period 1.627 4,2CKJ Change in cash and cash equivalents due to exchange rate m0￿mentS Cash and cath equSvalents at the end ofthe reportlng period 28 1.689 1.627 33

Notes to the Finarici31 Statements St Anlonvs College-wotss lo Ihgfinanclèl $tatsmon Forthoy@llrnd•d 31 July2024 INCOFIEFROM CHARrrABLE ACTnllTIES 2024 £'ODO 2023 £ooD Teachlng, Rè6ear¢h R¢sldenllal UnreslriGkdfund5 Tuition low- UK and EU 3lvdenls Tu11￿￿ lees- OVer5eaS sludents Olherlegs Stspport liom Olllee for Students OIhpr￿adet￿￿ |n¢om@ College resideniial Income 391 1.375 48 217 3.040 2.572 4,470 Restr￿ted funds Other4¢8dÈmlc It￿￿6 Total Teachlngp Retsearch aThd Rèsldèntial 5.389 4A73 Totsl inGomE fromcho￿tdbIe aCti￿1t$ 5,389 4873 The a￿v0 &nalysis ID¢lUdes￿,04$k ￿te1ve0 from OAtoYd Unlvetsltytrom publiaccouTrlaile ru￿% uDdgrth9 CFF sC￿M￿l￿O23'. E1.674kl. Tosupportlhe sliategic prbrrty lo tu￿ mregradualg scholats toenatA&Ou￿ta￿ding sludEnts totsk8 Upthelr plac55 ￿98rd185$ 01 Ihelr financlal pwitiDn.forgraduai8 s￿￿nIS wilhoveY58as 186 sièiusfunded through Claiendon orUKRI sthola15hip fundlw $thgfnBS, shatp of the lee5 Waried dmounled 10£7,94612023.' £4,299}. These are nol Included In the 180 In¢om8 reported abov8 INCOME FROM OTHER TRADIN¢ ACTIVITES 2024 £.400 2023 £'o Su￿￿ÈrycorydnYtr2d1ng IFbr%)rne 74 DONATrONSAND LFGACIES 2024 rooo 2023 £'No Donatknns¥Dd L¢gacio¥ Unre51nGled lundB Reslficled funds Endowed funds 832 1251 769 2,652 1.￿5 112 4,594 INVESTFAENTINCOME 202A 2023 £￿00 Unr851￿L¢dI￿n￿$ erpTOP8rty Irwme Other inVÈStJYnt ￿cOMe Bank inleiesl 263 47 61 37 25 183 396 Endo¥¥edfvnds 0th8T Invèsfftnt Incom& 2.012 1012 1,929 1.929 Total lThve$tW9nt Incvrn 2A08 2,311

Note5 to the Financial Statements St￿10￿Y's Collvgè- Noto8 t0th0fi￿4nGlal 8t•l•mEfflt Forthe yeBr Ènded 31 July2024 OThER INCOME InGOm of £75kwa5 reGgrrfed ￿ the lowc8rf)OD skills fund to a¥seA$ beSibd¢¢arbonisB￿Ètirnfj rosg the ¢ollegÈ ests￿. There w9& no other Income in 2D22123. NALY818 OF EXPENDITURÉ 2024 £'o 2023 Ch&rft&blè eMp¢rKlrturè-tfrachlThJ, resear¢h ond rosld9nllal 2.1SO 3,707 1.892 2.153 8,576 2.237 0￿￿rd1{e￿ cost8 Support &govemtsrtt Tutwl chBrltab￿ ExpenditiFIE 7.749 7,9e6 l GhEri1￿ eY4)Èndilufe ￿￿?te$ to leaching. research arwj rnNdonlN?18GtNilie& 2024 £woo 2023 £'o Exp*Thdit¥ie on9eneratlng funds Srecl stslf msts allocal8d tts.. 269 316 Trading gxp8ndiwYe 1fj3 Oth¥dIf<¢i￿BLS alo¢at£d to.. 44 278 Trading exrendilure 139 SurvOrt￿d goVerna￿e￿ cost8alkncaled lo". Fundraiwng Trading expenthbJre Inve$tm8ni mhn89ement COSIS Total •xp•ndItU￿ on ral$lr•9 fuThd# 676 Toral exp9nd￿￿re 8.695 8,642 The College ts li8b1e to be 89sessed loi a ￿￿t￿bub0￿ underlhe provisiorbS of St¥lulg xv ts1t￿ Vhivefstyol Oxftsrd. The Contributlon Fund 1$ Used to Tnake gr8DIs 8nd to coiwes on bagisof n$￿. Ctsninbutiong are ¢akula￿d ￿n￿allY iTraccord2nc&wlth regulatlon6 made bylt Coundlolthe Univer91ty0l Oxtoid. Thetsachlw and r&SearCh￿l5 co1￿9P cOntrtbub￿ p¥y¥bK¥of £ok120￿-t0k1. 2Q24 Total £'ooo 2023 Total £￿00 Included ￿￿thIn the resouicfjseip￿d9d ¥btNe a¢". Owieting I£￿e paY￿￿n Forelon ￿￿Char￿ gain 48 45

Notes to the Financial Statement5 St Anlon¥s Colleg(t- Notss lothoflnpn¢ial statsmenls Fuw the ye4r ￿Thd￿ 31 July 20Z4 LYSIS OF SUPPORT GOVERNAWCE COSTS Teacning and Reaeaich £'Mo 250 Teaching and Research £'o 250 Generat￿0 Funds 2024 TotÈl Tooo 272 Gènei¥lr Fur￿$ e'ooo 2023 Tptal pooo 274 22 Human r8swICgS Flnanclal admlnlsirathon Domgstlcadmlrlstraiknn Governawe costs Bank inte￿1 rw3ble OtherlinarKe charges DepreGiaU 144 243 372 21 254 372 27 156 67 1.044 39 47 18 1.155 47 47 18 1,155 87 1.044 99 1,B92 1,931 41 2,237 2,278 Find￿￿1 aTwJ ¢om&slk admlnLslralloD, Ir. governanc8 and human resourw tO8tFara altribul8d accordi￿ to thèestlmated bmespent on ￿lIvIty. Deprec&g1ion CoEtsand wofit loss on disposal 0[￿Xed assets dre all11￿led aCcord￿g to Ih&use madeol U￿eT￿l￿gaSset8. IntErealand 01herfinèn¢iw ch2rges ale attiitAJted accoidlng lolhe puiwse ollhe reL3ted IID¥ncing. 212d £￿0 27 2Q23 £'ooo 24 GovBrn8nce ¢D$ts compr15Q'. Auditorfs rFtnungr?knn- auditS9tvlc8S AudltOi'S remunerarion- tax 8dvknryservic&s Audilo¢s remunera￿OTh- other$e(v￿$ OthergrJvfrrnanc& costs 17 47 27 No atnounih& LEen included In governance (x%lsfor the dlreclemrAoyrnenl c051s or reimbuwd expenses ollhe Fellow&on the bo$K4 thal theBQ paytnents relBte to the Fellows invoTr¢e￿nti￿]￿e CoikYe¥chaiitsbl&8d￿IbeS. DBtsibol thè reMweraU￿ olthe Felknws and Iheir reimbuT3ed expEn&Es Are included 888 5Ep8rats noie yfflthln the50 lin8nci21 staiemènt& GRhATS hJSD AWARDS 2024 £￿00 2023 Durfn9 the y&ar the Collggg lunded research swards but5￿1￿& ty studgDts as roll￿￿￿". Unregtrfclodfunds. Grant•to Indivlduals Grantslo Ind￿l￿￿￿1$.. holarships, priz&8and grants Totd unreBlrlcted Rest￿Cle{£ 1u￿d$.Gr4Thts to lThdlhldual GI¥￿￿ to Indlvidual5'. holars￿p5. wizas and grants BursAiies Bnd hardshlp awards Tot41 rostrtctid 459 35 326 T¢rtAI qrants and award5 495 381 Students althi% colleoe dld not recdve any wymentsformthe Oxloyd ￿rsary s¢herne TrDrwe￿ there 8nyfeowgweis18sw8s t￿ ca$e r 2023> There wero no¢¢èntslo othfrr lnsliiuli￿s.

Notes to thg Financièl St3tements st Ahtonl8 Coll¢gp- Note6 totho nnan¢ial ¥tstomÈnts Forthe yearertded 31 July 2024 STAFF COSTS 2024 fOQD 2023 rooo The aggtsp8le stsff t¢Jsls lor ihe yearweie asfoluws. Salarles an¢ w¥ges SOCI￿ securlly ¢0118 PenS￿￿¢￿Sts". Delikn￿ ￿ne[l1$chemeS De￿￿90 ILnknbullon s¢hèm88 Other benefits 3,172 220 2.923 208 18541 221 45 12$ 39 3,M4 3,165 The ave￿0 mployèesot th2 Colle9B, èxdudlngTrustse8, s$$ IcAk)w6. 2024 2023 Tuillrjn Bno ieseaich co1￿8 r8gi¢kni￿l FuThdral Support 58 49 37 31 TOLII Thesverage numb2roIem￿0yfjd Cl￿1899T￿81eB$dU￿Irn0 the ye¥rwa> as folk)ws'. UniveNtyLedurers Otsr 37 37 Totsl 38 payments8¢ ¥COun1￿ lor In the pÈriod In which tho employee wag Snlomied of th9 d9c1s￿n. Wh8feTgdund8ncyeosts are uDwtain thè fi9Ur8 in Ihe reprgsenls a bgslesllmalg The lolowing inlormallon iololes io iheempknyees olthecollegè exdudlng ihe Colwe Trustees. Details of the Fernunoraion on¢ rs1tnbu￿cd pf the College TYusiee5 is Induded asa separats ￿te In theBefinawal sl8leTn8nl¥. Therewetgttvo env￿yeeS lèxcIu¢iny thè College Tru9teesl ihe ￿￿rWh0￿￿grOss pay and bonofiL518Xcludiny NE￿￿￿ pen>hx) COntrlbutions)was above £60.WQ12023'. iwol Thes8ernpbyEas had ￿ r8brEmert bpn8fi15 accrulng. 2024 2023 £60.00￿69.9y9 £80.000-£89P99 £Y)00 221 £'o The colfr￿ wntilbubon¥ lodefit￿O ¢Ontrthullon sehemes Itthld 37

Notes to the Financial Statements stAnlonV$ Collgu8-Notfjs lo tho financkn1 $tst8m¥nts Fur the year4nl9(131 July Z024 111 T￿￿GIBLE FIXED ASSETS Group Free￿ GTOUP Fixture5. riNings and equipmenl £￿[￿> Oroup 011ggo Freeholl lènd and ColleuE Fi%lJr85. College Totsl Totsi equipmenl £'OOD £￿0 £￿00 Cost AlS￿rtOf year Additions 41.1 665 1,081 44 42,215 7V9 41.134 42,215 44 At ond of ￿Hr 41,799 1.125 42,924 41.199 1,12$ 42.924 Dopre¢ladon and Impalrmant Al sl¥rt ol yeal Deprec￿110￿ thsrgef0rl￿ year 8.495 1.088 9A06 6.495 1.088 9.406 1,154 66 Aterd of year 9,583 10,560 9,583 977 10.5fj Nèl bookvaluo At ondolyear 32,21B 148 32.364 32,216 14B 32.3e4 Al slartolyear 32,839 17D 32,809 32.￿9 170 32.809 Therewere dating tQ0$9et8 he￿ urblerlinantt1&8598 In 2024 12023.. nlll norwhete Iher8?Dy a8gel¢i$po$als dwinythe year. The College has sub8tsnt&?I long-held h1s1o￿G assets 811 olvdhkh are used in cthYs&ol the c￿￿9&.5 t¢gchiw and researchpGiwltle&. These totnprise Iisled buildSngsoD the Collego S￿e, logelherwllh lhCir￿ntentS comprislnpwotks ol 8rt. ancient books and manuscrlpis and Qihei treasured arfelacls. Because of theIr￿e and. in rnanycases. unioue naiure, leliab￿ hlsioricAI cos1 iDlormknn is nolavailable forlh¢se ass91$ 8nd not ￿ obtsined exff PlAt dl¥roporllonaie expènse. Hcwfrve¥, In Ih&winion ol Ih$TYusts8sthe deprp¢iakd histoD¢a1 Ci)siof thÈse AssÈt& ts n¢w uThnalenal. 11 HERkTAGE A8SETS The Colleg8 holds a Dumbpr of mawscripls. ￿0kg. p￿lopra[￿S ar￿ ofthi thwmentjwhlchwere acqjired byihe college al nocosl. There material addiliiYI5 01 di8ptssalsof Such Bs5et5 in rettnl5pais 11 L% Cdhge policy torevlewall8uth gifl8 belore tKcephng themand to ensurtlhey are pToperfydO￿￿ented. fflalnlalned and sU￿"eCtIO ￿ appr(ptipe di%posal poI￿y. ArLeSS18 gtBnted by w￿13r￿n0￿mnIt0 a¢ademi¢s. ond M￿bE13 Dtthe publi 12 PROPERTY INVESTMENTS Group 2Q24 Totsi Group 2023 Tolal t￿00 Colleg• 2024 Total £￿00 Group 2023 TOtsI £'o Valualth al startof year Dl$pos8 Tran51eF6 Irom I (lol Fixed Assels Rgvslusllon gain￿lI￿$se51 In iheyear 3,OID 3,010 t2.￿0) I2.￿0) 19 Voluètlonatond of y4ar 55

Notes to the financial Statements StAmtOnVs Collège-No1è6 tothe flnanci81 Statornonts FDrthe y4arended 31 July 2024 13 OYHER INVESTMENTS All Inveslmenis are hekl èl lakvèlue. 2024 £￿00 2023 £'o Group In¥OStmontg Valualvin al stsrtofygar New ￿￿?y1nVÈ$iÉd Tmounts W￿raWn Reinvesied Inctsme lTrveslment m8nagemEntleÈs IDecreèseVincip8se In valueof SnYeslmeDis 57.IP2 58,404 14831 17 2￿80 12,4201 Group lThw8lrnents at¢￿￿ oly•ar 59.576 57.190 Inveslm&ntln Subs￿1￿[18￿ olleyo Invqyttngntsat•nd ol yoar 59,576 57.1 Group In￿¥t￿ents rvmpr15e'. Hew out*lde th• UK £woo 20Z4 Held out￿d& Total Ihe UK £'ooo £'ooo He￿ in the UK £￿00 2023 Tolal e'o thE UK £'ooo Equltylnv@simen Gbb81 mulli-assel lund5 Piopety lund5 Alt£rngllve other inve51mgnts 7,445 73 7.463 51.364 7.124 73 63 49,044 146 7.187 49.117 148 738 51.291 619 619 738 Tol81 group Invw¥trMnts 8,137 51.439 59,576 7.935 d9.255 57.190 14 PARENT ANO SUBSIDIARYUNoeRThXINO8 The Coll￿$ htsl¢s 100% olthe ISSU￿ sha¢ capiial In St Anto￿STradirV Llrnited, a companypiov￿lTrg ¢ontergnc8 ?nd othpravenisetvlres on the Collège pr￿15&$, and 100% ollbe Issued SI￿re cawtri in StAntoD￿￿ E%lat8s Llmit8d. a eompsny piovlding design Bnd construcllon EeNlces to th8 CcI￿g￿. The re&￿ts End1￿[ as8ets l￿bIll￿e5 Df Ihe parnnl 8nd su￿￿&￿25 al Ih&yeBf follows. StAntonYs StAntony'$ Ttadlng Ltd 2024 £wo Sl Ant9n￿& Estates Ltd Sl PnlDny's Sl ￿n￿rrf5 Tiading Ltd 2D23 E￿00 SIAntonK5 Estate¥ Lid 2023 t￿00 2024 £￿0D 2024 £￿00 2023 IDCOT Expèndltuye Rov8lu?tion GsiTrllLo581 Dorbalion lo &lloge uDdergirt a 10,729 669 15941 395 18.6421 2,801 75 33 R08ultforthepJr Sffi04 744 Tolal 35s91$ 94,8Tg 18401 231 92.524 14,0691 476 Nètfunds attho of ytrar 94,039 88 435 The College owns a 115 share In North Oxlord Shared Coll￿e Serv￿5 L1Th￿ed, 8 companyloinHy<wned bySIAnlonls Colwe, 81 Hugh's Colbgfy. ColÈgE, GreeTr Temp￿10￿ College and Lady Margatel Hall intrder to shere ITsupwrtcOs￿. company had 3 ￿rnOverIn 2023124 Df £799.357 I￿2?123£639,74B1￿nd ￿erat¢S as aC0314har￿￿ oroup Sott￿re WE￿ profits. Gree￿ Temrlelw Co1￿￿9101n￿d tho company on 2￿h Septemb¢r 2023.

Notes to the Financial Statements StAnt0￿￿ col￿ge- Notes tothe financ￿7 statements Forth$ yearended 31 July 2024 5 sTATE￿ENT OF INVESTMENYTOTAL RETURN The Truslgos have adoptEd a duly Juthorwd pD1￿Y oltotral r&tum 8C¢DUThl1￿ forthè IDvègiMenireturrhS. The Invgsimgntrgluinlo b? appliod a3 incomo is caleulaied a54.25% (plus costslof Ihe average ollheyear-gnd valus5 Qllhe rebv3nl invP5tsngn￿ In each olthe lasl Iun¢hsn9ed slnce 2023). Th& weserved Iliozenl valu8 ol tho Iiwest8dendo4wnenl capiL31 r8presgnts Its open markBtvalu8 ITr 2003 1098theiwlth all subsequent gndowffl8nis valu9d atdale olgift. Pemianent Endo¥¥meDt Unapplled Totsl Return I￿00 Eip2ndabl• Totsl Endowment Endowment In¥esimeni £'o 7,283 Totsi At 1StAU#￿t2o23 Grflcompgnertt otlho pÈnm8nentendoW￿Thl £WOD 7.283 7.283 Expendable e￿oW￿nt Total endowme￿1$ 43.047 d3,O47 43.04Y 86,541 7,243 6,211 13,494 Movements h the rwrfing pBilod.. Gill olendowmenifunds Inveslmenl r8iuFn iolal Investrn8nl income Inve51meThl reiuin.. resI￿ed and Unre￿i5￿d gaSns and b5ses 0ItErlranslers Tot 769 769 2.012 2.847 16 5.612 498 496 2,159 765 1.949 2,663 ur￿ppI￿ total Y&iurn allocated lo Incotnp irhthe reForbtbp perir Expendable endovmènis trangfeyrèl lo Inco Net movÈMenls In Yeportlny perlod 765 $27 1,592 2,019 3,611 At 31stJuly2024 GbftcomponeTht olthe perm2npntendownni Unapplled lotsl retuin Exppndabl8 end0￿￿Tht Total EndoY•Ttpot¥ 8.048 8,048 7,038 8,048 7,038 45.066 00.152 7.038 45.￿6 45,Q£fj 0,048 7,038 14086 16 DEBTORS 2024 Giollp £woo 2Q23 Group 2024 Collgge roDD 2023 eollo £'No £'wo AMoU￿ts f4llirbll dve ￿thIn0n0year. TrAde deblors AmTrunls owed by Cdkoe meThbbErs Amoun15 owed by Group ￿t￿ertakI￿¥ Prepèyment5 and accrued IDwme 0thgr¢gbtot# 189 73 73 97 44 205 9YO 205 930 IT4 174 1,397 767 e29 17 CREDttORS.. fall￿￿ du@W[t￿Tr oneyèar 2024 Group £'ouu 2023 Group Z024 Collogg £'ooo 023 Co1È9È £'ooo £￿00 Bank knan5 Tradg cr8dilOIS Amounts owed toCo119p fdembgrs ramal￿￿ socis15ecurlty cNgls and ¢elgtrod Incom9 2,000 63S 421 42 242 2.000 422 420 42 240 452 343 17 259 392 343 18 257 1￿71 3.343 1,OlQ 3,124 The Colleg8 repaid lh$ fil￿1 balance olJn unsBwTed revolvin9 bgnk loaD Isrifty IlbE Hilda Besse BU1￿4￿￿j |p8nl In December 2023and th55 loa f8cility h38 P￿ed Ilhe value ol Ihp loan a1315tJtsty 2023 E2.0 mlllk)nl. IS cRÈtt￿ORS'. falllNJ duÈ aft# nY>re than oneyear ThÈrè vme no credltors fallrwj due alteT tnorelhan onsyear12023." nlo. 19 PROVISIONS FOR LIABIUTIESAJIDCM￿ftGEs T￿[£ ￿re no pr(vi*on¥for Iiabllitles and chargè$12023-. nll

Notes to the Finèncial Statement5 Sl Antony's College-Nolps tvthB financlal 8taterngnts Forthg yoarondèd 31 2D24 20 ANALYSIS OF MOVEMENTS ON FUNDS 1 Aug ￿23 £wo Inwme Exp8tbdilure Tr8n61er5 rwo G&inllLtyssl 31 July 2024 £'ooo Endowm•nt Funds.Perfflan9nt lal Fellrmships Ibl SuppDrt 10 SbJdeDIs Icl LIDf8ries & Ar¢hw8S Idl Ccntre Costs Total Endowment Fun¢5- Pormnnt 8.6Z1 2.521 2,097 2SS 13.494 305 871 74 12031 427 144 103 13 687 ,150 3A66 2,193 277 15,086 1.259 Endowmènt Funds- ExP￿￿dable e81 Fdbwship$ ebl Supportto SWd8Dts ecl G&nei81 EndtwN*nl dl centre Costs eel Res&3rch 11 Olher Total Endowment Funds- Expfjndable 4.687 4,669 27,6#7 4,312 1,359 333 43.04f 24S 231 1,388 213 66 17 2.160 4,933 4,933 28,BB7 4,569 1,389 355 45,066 165 152 47 1.522 1.6fj3 Endowtnent lunds held by Subs￿15￿&¥ Ttstal Enrtowment Funds- Group 56.541 2.781 2,017 2.847 Re$trlct¢d Funds r81 Fdthship$ rbl Supwrl lo Sludenls rcl Libr8riES & ArchNes rdl Cenlreco&ls r81 Re$eBreh rfl Capitsl Hlds Be5se rgl Capital Inveslcoip rhl Conf8rBnceS & Semlnars rll Other Total RèÈtrfeted Fund$- Gg118B& 153 1Bg 317 425 241 102 12431 93 72 196 11,270 10.969 72 12,238 102 12.289 759 12,037 R9$m¢￿d lund5 he￿ bysubs￿l￿￿O￿ Talal Rèstricted Fund$-Group 12,236 1,331 2.289 759 t2.IJ37 Unrostrlrtgd FundB u¥) Gèneial rgsery9S ubl Supwrt 10 Siudents u¢) Fixed asset0e5￿DatÈdltsrml dl Dbraries & ArthiV& Lpel Cèniie Costs ull Wardens HouS9 Fund I P8nsIC￿ Fund Lkrybllity uhl Felugpe Scholars 413 53 19,520 7.113 15.3861 152 2,702 205 21,349 18731 387 IS9 10 411 1S4} 746 20 Totsl Unre¥ttiEted Funds. Coll•oe 19.658 6.406 1.258 54 21.8 Unreslrirted funds by subsvJi¥ries Totsl Untp%trlcted Fund$- fjroup 19.658 7.286 16.406 1.258 54 21,8 Totsl Fund8 88,435 2,901 94.039

Notes to the Financial St3tements Sl AntOny'5 College- Notes lo the ThnanC￿l statemen18 Fortheyoar 8nded 31 Jvly2024 21 FUNDS OFTHE COLLEGE DETAILS The college manaDes lour main o10￿p$0 I￿￿, Isled in noLe 20 8bwe, puypjse ofwhith is eXpl￿ne￿ in rnwe detsil beknw.. Endovnnent FuDds- PEttnanent.. Thesp represent a ¢onsolidalion of donElons glns whpre the lrtytneoblalned Ihrough rnan49ing the Iunds L410 be Used 10 5UPPOrt V81kNJs attivitleSollhe Colege &s Oulllned bylhe donor. The funds h￿d support aCt￿ryty In the lollowino broad areas.. Ihe co3t$ of Var￿u&l¢ll[￿sbl95 wilhin the Colleg&, financ1alsupportfor￿ude￿t5, ljbrgri05. 8rckMves and audeThwGcentre&. End(Trwment Fu￿d5- ExpendablE.' Expend?￿e EndotvmEnts are the of EIIIS Bnd dtsnallon¥ whEre elI￿rthE hvesbmEnt lrtomeortheeaplLql 8um May be used fort PUrp05es outlined by thedonor. Th&fund$ seyve a nuner ol PUTPQ9 InGludiDg the wovision ol lell(M?hips. Iinancial supwrtlorslud$nls, tt sts ollhs af1éem￿ce￿t￿8 oflhe College and rèaearch. The l$rgestexpondAblg endowmentis g¢nÈr?I pnth)wmèTrlwnlch is Used tofund gènet¥l 8¢tivlli6¥ 01th6 Cdtew. RÈ5tilcted Funds.. Re5trieled funds aregrants,olts8nd thnalion5 lI￿are given ￿ra pthiaJ￿rpU￿o by ￿ d0rnror<￿gs￿Sat￿Tr a gr8ntip ts colk￿. They MBY only be lorspocffic putPDse& and they aclNitieSwhich Ere orovped inkn a nutnber DI are&5 incl￿dIng the provlslon ol feiiowshlps. Iinancialsupportto studenL4. librtdes, 8rchives, thè coyts olthe8cademiCfAntres ollhe College. research. conferences and semlnars. There ar8 spEellk tvnd8 tThalwere used to suptxNt the capMs1 oxpÈndltur8th the Inv8sktsrp8nd Hilda Bess9 bU1￿1n0s. UnMtflGtod Fund5'. Thesè tullds represent 911 begn rgcelved bylhe Collegewhgre no res10cl￿Tr hBs bgen placed OD If$ use. Unr@slricled fund$ arè I15t￿ In lable 20 in a nufflbErol différ8ntcategorl85, of whlch havg deS￿nat￿d by lh9 GDvefning Body for parfiular wrwS8s, wmch arp below". tserral Resorves Supportlo SludoThl& Fixed Ass8lOe¥Ignpl￿ Fund T￿6 rowesenls th&gener¥l linBDcial reservesol the col. Sums set93￿￿ byTtuslee3iofund sthtslèrships ond hardship b¥ns lorsiud8nts. Unr¢strided Fur￿1 whlth are rep¢&enled by hxÈd asseis of the arKltheretor8 not V811able lorexpendiwreonttr￿ C￿￿9[.$ gener&1 purpose6. TN6 15 a consolidalknnof uniEslrtdgd lunds ialsed bythe Colleg@'s thallh8 &vernlw Botty h2s 8• 55idè 10 b8 spEniiorth8 b@nèfltof CDll&ge Ilbrad85 and aichives. Thi8 ￿ 3iyJhsolidgknon ol unreslriGled funds thal the Govemlno Body ha5 sel to be S￿nI forthe benelilo18cademK￿ntres. MI￿l￿deS 8 separate deS￿Date0 lund lorthe purpDse of FU￿￿1￿g gnd mainkninirwJ the Nyssgn Buildlng. Twstees hav8 de519nateO net IncDm8 from Ihe pDval& ler￿71 ola propety In Chur¢h walk. ftsmgtly used a5 a Ipsidence br It￿ Colle9e War¢en b supwrtStu&nts and st￿de￿I rèLqle activities. Thls PFtpety has been Conveited io sludent8cGommdatsDn and incom tolhe lund h58¢￿8￿. Funds des4gnalgd io hlghliqhlthe potgntlal li3bilityoldefvned benefjlpgn5knn schemes olwhth th8 collggg |$5 mgmbei. Thtr pol8ntlal kabilltywds 911tnlnated durihg thpy8ai8nd th8 bFJar 19 now zero. Asum set05￿9 ty Ttu8ts9¥ lo woyide financial 3ssi3tsD¢e to 5¢th13rE who havebefjn d￿PlaCe￿ due to wnnid, [ersetu￿Th. orother Ser￿￿8 human YYJhts ViolÉtlO￿ OrdeprNa1￿TrS. Ubrwles & Archive5 CeDlro Cos Waiden'5 House Fund pen￿Orn Fund LL4blllly Rel￿088 SthoLqrs 42

Note5 to the Financial Statements stAntonYs ¢olleg*- Nolos ti>the1lna￿79lSt1tsMènts For tho ¥earend¢d 31 July 2024 Analysis ofTrnnslBfs Bet¥¥een Funds.. P•rmllnert Ewenthb Oth•r F￿ndS Fund Fund Fvnd eooo £'o £'o fODO £'ODO 000 Totsl Retum IUknGEied Its Incom Hlldg Besse Work5- Loan Repaio De5iynalion ol Unrestricted Income New CèpitalAssels in ￿ar OtherTransfeT5 13571 11,6421 830 1.169 1.873 172 17021 702 27 1221 1354 1,$63 759 2,702 ANALYSIS OF f4ET ASSETS BETWEEN FUN08 Unfeskncied Funds £￿00 Resiilcted Funds rwo Endowmenl Funds 2024 Total £woo Tangiblefiied #aS8ts Prtspèrtyinv&stmgnlg OtherinvEstments Neleurrenta￿ts 21.3 10.969 32,364 55 59,57e 59,576 578 4CQ 1.068 21.850 12,037 ,152 94,039 Unrg5trcted FuDds £￿00 R&s￿eled Funds £'ooo Endowmeni Fur￿5 2023 £'wo T?ngiWefixEd assets Property Inve51menLs Otherinvpslmenly Net currenlasset Long ¢nn1&8b111ties 21.539 11.270 31809 649 11.694} {746) 56.541 57,190 {9281 17461 19.658 12.236 58.541 88A35 43

Notes to the Financial Statements StAntoDls Coll¢go- Noios totho finAnclA1 $tatsments For the yfr4r ended 31 Ju4f2024 23 TRUSTEES, REPnUNERAmO The FellowsNtho are Ihe Trustee8 ol Ihe c￿￿g￿l01 tho wrp(w$ol ¢harityLgw recerie nD ratnu￿rati￿ Ytbng as rh•iltytrugeEs bul are pahl byoith&r or ￿th Oflh$ Unw¢i$lty 8ndttbB ¢tlkg&for the wdemic8¢tvlces I￿Y prOvk1è ts the Co1￿￿8. Trustees of the Co1￿0￿ 1811 Into the following categor￿s.. Hoad ol House. Profeswi￿1 F$lkn¥. Oflirial Felknw. Fdh)w by Spe¢lal RÈgeaich Fellow. No trustee roceives any remuD&ration for8Gting as¥ trustse. How8ver. trbJ$e tru&tsÈs who alyoempbyèes ollhe colleoe recdve Itri￿￿1r work ¥s£mployee¥. Thesè salarks arè ppAd oThext£rnal arAdgtnlc and 8caden1￿-r￿ateQ sco19s arwj 0ftgD aroioinlarwgsmènts Withlh8 University of Oxford. The Remun8ralion of Inleresl CoTnmrtl8p CO￿¥1&b ol wtable College Alu￿1. its purpxe is tomake recommendallons lo Govemhg BodycoTr¢erning 11 IhB ?nnual slp2ndol85ch memtwof ¢￿eming Btstyinckndlng Walden. 111 the benefits and Allowan¢e$ paidtolhe Ward&n by th¢ Go11È9è in a￿orday￿With thÉ atatutes. ijilthe and alknwanros to memb8r of G¢vemlng 6ody lexeluding ths Warden) In a¢coidBncewtthlh6 Slalutes iv) ¥uchottrErmaltet3&S are referred toll by ihe Governlno 80ty. AIITrustegs olthe Co11gge ar8Members Df I￿ GovErniw Body. Onè of these. the BuYs8r,worksfull Nmeon the manBgemenlolthe College. l Tiusleas?re eligiblg for Collrye bousiw &Ehetne&. ThesE Eithei tske IhE form ol a mDnlhly hous1￿ alknwance whi¢h1s Incluthd In the figuies b4ow or apinltouily Npurchg5Eof8 yepay8b￿ loan 01£55.000 Two Iwglees INed In ￿￿￿eS joint￿￿11￿ Ihe Go1kge, orLe olwhich Was sold during Iheyear. The taxab￿ t￿naIrt4￿rIsIng outof IheiDinlequtyarr4nooments F¢ in¢lud¢d inlhp fioures belD¥v. Som&fruSlees receive addllonal alknw2nces forwoth rArrfed ovl as parl Ilme wlegeofficers. These are lh& Sub-wardon, the Dean, the &nKbr Tuloi, the GovernSng Body Delepte lor FitbaDce, Dean ol Degrees, P¥btave Macmiwan editors?nd the Centre D1￿Clo￿. These amounis re Induded Ihe reTnuneratioTrligvrE5 below. ThelDtEI remuneralilln 8nd Laxable berfitsas 3hown bekm 15 £460.19312023'. £427.7261 ThplTrtsl ol pensknn tonlribullonB L8£45,73912023'. £56,3701. The Collage hh$ a RemunÈrAlth Cllfflmittee which makes re(mmend8tions loGoverning 8￿Y on payand b8n&fils whlch areouishle of exlBmbl scales. The COM￿tion ol ReNrtYalloD Commiiieeis seloul on page 2 ottheYFuske Reporf. RgmuDerJllon paid tOtr￿s¢¢￿$ 2024 Nutnb8rof Gry￿S ramufierallDn, tsxsb Trusteesl benefks and pension Fell￿NG cOntr1￿1¥an5 2023 Gia$S ￿munErali￿n. tax benelrts and pensi NumbÈrof Tru5teesl Felow8 Range £fv£999 £1,000-£1999 £2,000-£2999 £3.OOfyt3.999 £4.Q￿-£4.99¥ £5.OW.£5.999 £6.OW46.999 £7.OM.£7,999 £8.Qw-£8.￿9 £9.000-£9.999 £12.QQO-£12.9Y9 £13,000&13.999 £21,000.£21.999 £72.000.£72.gY9 £74.OOOI74.9Wa £105.00￿£10sM9y £106.00fv£1ffi.999 £112.00￿ell2.￿9 £113.M(h£113.999 2¢5 5.843 2.796 19.028 60.491 15.239 25,524 7.123 2.728 2.330 17,988 68.796 21.938 13,289 7.478 8.055 16 0.123 12.444 39.562 21.353 4&713 72.193 74.525 10S,408 I￿.524 112,038 113.t*7 4B4.097 510,7to 41 All trust@@g Slaff mayeaiai Common iable dunng lheIr￿ork1￿ houts No InJslee dalmed expenses toranywork p&rforThed Indlshcharse of Ihelrdule5 as aTYuSlee15ee also note 32- Relaled Parly TraDs¥ctsoDsl. Key management remunerall The totsl remuneration p8ld io key rn3nag8m&ntlinrluding N£t￿n￿l h8vr8nceeoMributknn5lwas £509k {2023.' £503k}. KeymanagemeDI are eonaldered lo be the WÈrden. CrA￿02 Otficer5, ihe Burs8r. rhe ol Operations & Estatss, the HR Managorandlhe Hegd of Pi[b3[￿￿& IT 44

Nores to the Financièl Statements st AntoMY¥ Cvllègè-Not85 ttsthg fIna￿ela1 •ty¢èments For Ihfy yeargndod 31 Ju1y2024 PENSION 8¢HEMES The Coll￿0 participa￿$ In p9￿È1￿ gch6wsfOI ILI &LIff-￿ Unlversititys SUp6YaTr￿aIth SeFmè IUSSI and UnlveYÈityoI Oxford Stsff Pension Scheme IOSPSI. The assets Df each Scheme are ￿1& in sep81alelTUStee4dmlniS1grgd funds. uSsa￿ OSPS ar coniiSbutory mixed tDefil schemes (1.8 they providé ￿ne[lISOn 8 defingd b8nelit ba45- ba58d on 18ngth Of sgNlce Ènd p@nSitsnable salary- on a dEllrth cohtributk)n basis-based on contributiona ￿710 the schÈmel. Both are mulli-employer schemes£nd Ihe College Is unablelo entity IL% share ollhe undedying asselsand Ilabilllies Fel81ing to defined benelilsol each scheme ona consislenl and reasonable bas15. Therefore. In aCeOTden(t Ihe oc¢ounbDg 8tsnd&rd FRS 102 paragraph 28 11. the College accounts forlhesihEmes as rftheywerEdefined ntributiun gchetne5. A% a result, theamwnt ch8ro&d tot￿ IneomE and Ex￿ndI￿reA¢￿Unt represen16 the conlribullor￿ payl&lothe schÈme6 in rLtspeci o11￿&¢¢0￿nb￿g periLNI. evenlollhe wrfhdiawalof any ollhe p8rtKipatiw employols in USS orOSPS. the an￿Unt ol any pensioD IvMJing shortrall Iwhl¢h ¢annotb3 otherthse rc¢tyveredl in rfj$pÈdol th8iemployer￿l bÈ spraad a¢ro33 Ihe ￿m81n1￿ parfclpabng pWIS and ¢llècLèd In thè nÈxi8cluarial valuatlon of the 9¢heme. Tho Colle9e h£s 51s0 made aV￿lab￿ Ihe Nat￿)r￿1 Employment Savlws Truslforernpbyee5 who are eligible underaV￿￿9￿C enrdmsnl reyulalL￿S lo pension bgn&fKs bul USSorOSPS. S¢hem•s Jlrovntsdfr>r￿tsdvTFRS 102¥¥ deflned eonlribu¥•n schEmE$ uss Foi US$. a d&fvl f8coveryplan wag wllnplLe as p&tof the 2020 valu&llon, which rÈQUi￿d ptynnl 016.2% 01s￿arleS over Ihe pedod 1 Aprll 2022 ￿ntIl 31 March 2024. al the rate would InC￿35e 106 3%. No deffcil recoveryplan was requlied und&r Ihe 2023 ValUat￿n b8cause 1h&sttherne wa5 In suiplus oTha tech￿￿ pr{wis￿￿& bpsis. Th&Col¢ge was no kKhgerrequired lo makedEfic41 r¢wYery tontribthions Iro￿ I J¥nuary 2024 and sccordinoty released theoutstandino provision income and exFnd1￿r¢ acGOunl. The ￿leStE¥8]L￿￿e comp￿t￿ aciuarknl valuation olthe Reliremenl Income Buildei i% as a131 March 2023 Ilhe valua￿Tr d&lel, which wasC8rried ovl using pro5e(leJ ynil tnolhod. Sirbce the College canMI Ioenlifyits stKwreol USS Reliremenl InC[w￿ BU1￿¢[ 1dp1ln￿ beDefill assols3nd liabilities. disclo¥uie5 ielleclthose relevgnt forthosoas8elS lia￿lIties ès Ataf Juty 2023. thE Collegè'$ bpl3nce sheEt 8 lirybility ts1£734.388 f¢Kfuknre cOntYlbulions. lollowiro the 2020 valuat￿Tr when i sek￿rne was In deficll. No thfitilrecoY4ry plan was requlred frcffl Ihc 2023va￿a￿o￿. because the sclrmewas In SUTplvs. CtHnges to raieBwore impleMe￿ted from 1 tsnu?ry 2024 sjnd fromihatdate the &llegE Wa5 rw) |ongEr reouire¢ to make delitiifècovEry¢onblbthn$. T remgining lIa￿lIty01 e604,379w8s re￿29￿ io Ihe Income and expendIt￿￿ dC(XJunl. Th8 2023 valuatronw8s Sèvènth valuaiion for the schÈme ll￿er ihè SCr￿me-SpeCIfICrund1n9 reglmg 1n1rc￿UCeO by the Pensknnsm 2004, whlch requiFes schem95 to have sufnc￿nland aFpropriale assets io cover1￿[F ￿hniCal provisioDs1th8slalulory funding oblsctiv&I. Attha Yalualh)n dal@, thpvalue oltbg a&￿ts olth8 schEme Wss£73.1 and the valu8 olthe sch8mB'S teehnlcal provSslonsw25 £85.7 billlon Indlcabrtg 8 sUrp￿S 01£7.4 bilwon and a fundiw ialio of 111%. The keylin8nclala55umpl￿ThS used ￿ the 20> valuallon are dEsulbEd b￿0W. Term deppndEnt rate$ in line wnhlhg differenr8 belweEn Ihg Fixed Iniore$t Ènd 1ndex Llnked yield cuNes le55-. 1.0% p.s. to 2￿0. ￿d￿cin911￿arkY by 0.1¥ts p.a. Irom 2030. 8eTbeflLS Witb no cap.. CPI aSSUfnplknn plus 3bps B&nefits subJ8cI to 8"$0ft p" ol 5% (providing InflatiowryinGrea8eS UP to S%. and haK Df any e￿5S Inllation over 5% up to B maYJrnum Df 10%). c￿ 8ssumptk)n nlnus 3bp5 Flxed Interost gillyi￿¢ CUP￿ Plus.. Pr8-rebromenl. 2.5Yts p.a. Pos1-relireMenl'. O.¥A p.è. CPI sstsmplion PensloD h¢resses Isubie¢t lo3 noorof 0%) D15count rale Ilorward rates) Th8 main dE[n0yrgph￿ a55umption5 used relale ts Ihè mDrt3lity tsSUTnpt￿n5.Theaea5$UMptir￿s are based on ènatysls ol Ihe Bcheme's experlence carried oulas part ￿the ￿23 8ciu8ria1 V￿VatiOn. Thrj mortalityassumpllons used ID Iheso figurES ar8 a5follows-. Mortali baso LatrAe 101% 01 S2PMA'lighl' lormales and 95%of S3PFAforl8mde5 20 and * ￿￿-LerM improvemenltste ol 1.8% pa lor ma￿$ ar￿ 1.6% pa for fgm816s Future Impmvetnent8to mortality cutreni lrfg g s¢tanclèson rètlr4m8ni al è 65£rfj. 2024 2023 24 Mg195 wtrently$gbd 6S lyeatsl Ftmale5 Cuifenityaged 65 (year81 Ma￿5 cuYrenlly2ged 45 lyga191 Femaes ￿Tr9￿1 045 25.4 27.2 26

Notes to the Financial Statements Sl AnloDls Cdlègo- Ntstt8 tothè financlBI •talomontA ForthE yfrar Ended 31 July 1024 The unive￿I￿Or0￿F￿rd StBffPensiDn Scheme The Unroorsityof Oxloid Slall SchemE IOSPSI i¥ a muMi-emplTryer hybdd schpmE8ei up undertrU51 ano SPDnsored by ihE Unlverslty.11 thE pension Scheme lof sUPWrtStsff allhe UniveT5ity. parI￿￿patIog colleoes and Qlher re￿Ied employeis. New members1oin￿9 the sthetne ￿lId up benefitson a defined cOntri￿tion b3si¥. Klem￿r&whOj￿ThEd b&lorfr 1st OGiober2017 build-up berhEIits Dn 8 tsreer avef8oe reval￿￿ eèrninps b851&. The ￿teSt lull adu8rl81 valua1￿￿ foi the OSPS stheme wbs wmpletod a8 al 31 March Z022. Thefuming po8ilbh otlhi8 stheme h&8 immed signthcanllytllQVing Ircffjd8liGrtof £113mlo$ $urplus of £47m aithe v3lu8Lon dats. Dat&of valu3llon 31103r2022 £914m Valvp Df a5sèiS'. £961m Fundlw sur￿￿9￿(derICK) £4Tm As a resul[ Ihe iécovery aBrsed al the ￿stValuaV￿1¥ no10rygrrequiied and th8 d&llcil tanIrt￿bDn ended On 30lh Septernb81 2023. A provlslon 01£11.S30 was made at 31 July2023 Ioaccounl lor deficlt recovery payments uplo 30thSewembei 2023. That ieMaiDnP liability ol Was released lo I￿ IneA￿e experbdilure account in 2024. Th8Trustee t￿ Uniyersily have agreed a neweoniribulknn Schedu￿ which lookeffecl from 1 Oclober2023 and takeSa￿O￿nI oflhe benEfit lTrN)rovemenls a[￿ changes to tnember conlribLrtiQn5 Since tho ￿￿1valUat￿n dgte. Mw¥¥ ggreed ￿¥1]hE Stheme will tnept itsown running c0515 Itom Ihe xhEtne'$ as¥ot&. inGludlryexpEnsp5 feLgtiry ID both Ihe DB?nd DC Sethknhj and1￿ Cost DIper￿10￿ PrDledlon Fund lolherststuiDry Furtherletsil&ol the Fssutnpbw are setQUl In the 3tatemEniol lunding prin¢lple& dgted 27 Jun&20238nd can be fwnd 81.. .admln.ox. .uWos ment6 The prlDCiplo aSsump￿On$ used by Ib& aduarywore.. 08ps Gitt5' +2.25% GIIts' 40.5% Break<ven RPI CuNe1￿90.s% pB prtr2030 1.0% pa post 2030 RPI IDlIat￿n 3ssumptI￿ 1% pa pre-2030?nd 0.1% pa posl 2030 RPI +pa Rate ol Intor6SI (pvrtods up ￿ rÈtlrerrntl Ra￿ ol inlgresl Iperlods after retirement) R CR Pensio￿￿1￿ sal￿ inrwso Fu￿1￿9 k8ti05 Techttr41 prTrvlwons bab 'Bwuf ba$ 105% 62% PO81-￿irement mortBlIty- base tsb Posl-retiretnenl mortality- imwovèmEnts F<￿￿Mmend￿ etnployefs wntribulion rate las %ol er￿10￿8￿￿58Ianp￿I-. EffeGbv8 dateol ne￿￿41￿all0Th.. Non-Pgnsioners". 105% 01st¥￿ard S3PYAfflediutn labb$ ltsr Nrm-Pen8ioners.' 105% ol$tsTbdard t￿ty￿S f 165% DB ftsrmeThO)p¢ from 011iord023 10V. 112OA 114% DC mem￿r$ In reldlion to4% 16%18% c051 31 Mairh2025 Pension charuÈ forthevg•r Tho pènslon charge recorded by Sl Anlciiy'9 Collg)e during ib& p8DowJ lexcludiw pFn6knn fin￿O￿￿$￿)W￿$8QU¥l Loth conrributions alknWa￿ forthe ¢cfititrecovgry plan 85 lollowg." 2024 £'oou 16041 772 2D23 £'ooo 49 Vnlvetstt￿$ Superannuaibn Sehtrn9 VDlveY6ty oloxtord SIBff Schemg 432 These amounts foy 2024 Include E221k12023." £125klconlrY)utlons payabl8lodèfin8d ￿ntrIb￿uffi sthpm8sat rat6ssp8cified in oltho There were no out51a￿l￿g pen51m contribution8 UThpa￿ al 318lJuly Z02412023.' nill. 46

Notes to the Financial Statements stAntonty¥ ¢olleyè- Note5 lothe￿nanCIAl$trt¢￿nl• Forthfj yeai endcd31 Juty2024 25 I￿￿oN The col￿ge ablo lo lake &v¥nlaue Df the tax exemptions Evallabl¢l0c￿r1tses11￿M l&¥aliOn in re5pecI of inGome alld C3pSlal gaiDs receK¥ed to the extent Ihal Such Inccpme End galns argawlied lo excl￿$￿VelYChariIab1e w￿0¥e5. No 11obility lo corporat￿￿ lax ¥nses In Ihe¢oI￿9É's 5ubsldiarycoTtpanies Lrc8u5e lth directols0llhesei￿mP￿￿1e3 hBve Indica￿ Ihatthey intend to don￿1￿￿5 each yesr io U)8 co￿e¢e equal lo Ihe tsNable tyofits olthe tompany underts GIrtAid scheme. Accordinuly no proVI￿on lorkxallon ha5 b&8n 1ncJud￿ in thefiD8D¢i81 8tstem2nls. 26 FINANcI￿L INSTRVMENT3 Th8 Colleg8 h8seert3ln Ilnandal assets and l￿bIlitIeS of 8 k1￿ Ihalqualltyas ￿sk￿n9rhC1aI It￿rum￿tS. Ba51cfinanclal In5trumFnts arg In￿anY 9nised allians8ction$ value and Fubs9qupnt￿tn88Syre0 3t w￿[￿50d cost. G￿t￿nother Inslruffl@nty aio hgld alfa1rvalu&,￿th9aI￿s ItES9s b91ty rrf0gnlS￿ %ithin incomesnd éxpendSture. The Goii¢gè hBsltE l0110wir￿ fina￿4#1 In8trumenis'. 2024 Group 2023 Gr0￿p eOOD £￿00 FinanclalJs¥¢ts m¢J8ur¢d attsirV&luÈthrough profrtor Ips¥ Investr￿ntS $9,$31 67.30) Flnan¢bal Ikbllttles measured atfalr valuethrouuh wofft or1058 Flnanrlal as$•ts tnoauf0d at amortlsed cost ¢￿h rash 8qulvalent8 Trade D&btors & Amounts owed by Golpgg ￿Mb&￿￿ 1.6B9 2S2 1.627 385 2,012 Fillanrjal IIBbS1iti¢J rne8$ufed atAmortlsed cost Bank Loans Ttsde Ctedrtors, Tax Ciedltots amunts owed ￿ College Members ?,0 812 12 27 RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH FLOW FROM OPERATIONS 2024 Gr￿p £￿00 2022 GTOVP £'wo Netlncomellexpendi¢vr¢l 5.604 710 ElITnirotion of non-0p￿$ti￿ ca3h Ih)ws'. Yestmenl incomo (Gainsmosses in investsllenls EndowmoTrtdonalions t￿pre￿￿tIon ISuiplu$ykns8 On sale of Ilx8d sssets DeNeas8lllncroasel ID stork DeBrea5elllrtrea$èl in debtors 12,40B} 12.Wl1 12.3001 2,420 1,047 {6301 142 IDecrea5elllncrea5e In provis￿n$ IDecrea58lllncrease in penslon schEmE liability Nel¢ash pwoVt&41 try lusfrd Inlwratlng Be￿¥(11e5 976Tr 1,430 47

Notes to the Financial StatÈmentS StAntonW6 Colbgo- Not•s totho ￿￿9￿¢141 ¥tstoments FDrthe yEarended 31 July2024 28 ANALYSISOF CASK AND CASH EQVIVALENTS 2024 tooTr 2023 £'OLK) C2sh al b¥nk and in h8nLI Notice dep￿19 (less than 3nwnlhsl 1,670 1.￿7 20 Total cash and ¢a8h oqu1valonts 1,880 1,827 29 Atr4ALY5150F CHANGES IN NEf DEgT Cash Fbws Trknl.Cash ChgThgèS Balartoat End of Year Startof Yèar £'ooo Cash Cash Eq￿1Valents Loa￿ Falling dueMrithinanÈ yeai 1.e07 20 1.670 19 2.000 TOTAL 2.062 1,689 30 FINANCIAL COMMrrMENT8 Al 31 Juty the C￿￿ge h¥d toial underwn<¥ncellablp(yefaling ka¥osg5 Sh￿ t￿￿￿¥.. 2024 £'ODO 2023 rwo Qthor paygble whin 0￿year paypble afbd ffvt y8&rs 18 37 ss 23 57 80 31 cAP￿IL COMMITMEF The c￿￿¢￿e had nD Gonlractual CDnNnrfrT￿Trts ftr b￿￿1￿j a131st July2024 {3151 July2023- £￿3k}. 32 RELATED PARTY TRANSACTIONS The College 18 partollh8collegiate Universrfy Df Oxtord. Malorial inlErdependpn¢i8s beNeeD thp UnlveTsty $nd ollhe Collège tyiiae 86 nsrsquen¢e of rel8tion¥hip. For fptsrfing PJtpo$es. ihe Unlver51ty$nd the other c￿￿geS ar8 no11￿1£d a5 r91aled parbgs as dgfjDed in FR$ 102. Members oTthe Goveining Body. who arelh8 Irusle8s DI the Colleuo related parfies as dolinEd by FR$ 102, re¢eive remu￿ratioft and facillllas asempknyEes oltho Collew Deta115 ofihese paymenf5 and reiThthur5ed expEn58s as trus￿$ aièdlsclwed separately In Iheso IinancHI Slaletnenls. The Colle99 has proporles wrthth&lollo¥Yiny n&1 bwkvalues ￿rt&d ￿l￿tlY With ￿5th£s undèrpiniegUiLy0 55 2023 55 £5 D Sanchez Toial nel book value of properb&s owneJlojnUywlth ITusIBes 5$ AIIiDlnl wJuityproperfie& we subje¢ll0 5a1¢ on th&departur&of ihelru51ee tromtbe College. 33 CONTINGENT ASSET$ & L￿BILITIEs The c￿￿￿e is aW8¥e ol beouesis from four legacl85 lorwhlch piobate has b&en graThleO on the &sto. bullheg¢¢ounls have noiyet bben sc1￿Cd. Th8 c￿￿￿8ccrUe0 lor£886.500 ol In￿rne Iromlhesp bequests vthere Ih¢rÈWaS¢¥rtèlnty rcgArdlro th¥ valuè olthè bequesito be recel¥ed. Furtheryna¢wed Income IS£WCkd Iron ihe¥ beouest& thare i8 unertainty regarding ￿th the value ar￿ the Ilmiw ol recBipl9f funds. Thèrè are Iiatw11ts95.

Notes to the Financial Statements StAntOny's College- Not46 tothèflnAnthal statsrngnts Forthe yearnd&d 31 July 2024 34 US DEPARTMEhlTOF EOUCATION F￿￿CL4L RESPONS181LITY SUPPLEMENTARY SCHEDULE In satislAtllon of Ils obllg8t0n$ io 18tilitatssiudentg' access to US federal financ￿1 aid. Ihe Is required. byth$ US Depattsn9nl of EduCa￿Tr, to p￿Sent. th$ following Suppl8meDtsI sch￿￿185 in 3 prescribed laThx31. The scwvles havg begn prepared und8rthe hisiorthl toai eonveniion, subSecllts the wa1u8tknnol￿rfahn r￿ed assels,. ' prEpa￿d Using United Kingdom g&Trer¥ltya¢copted accounliry pigctKe, ID aGr0rOa[￿ with Finan￿51 Rewrtiry Slandsrd 102 IFRS 1021 Ihe Stalementof ￿e￿￿￿ended Ptactlce.. Accountino lorFurlhEr Higher Educal￿n 12019 &llknnl,' ' presenlxJ ID pounds stemlw. Supplèmehtaryschedule This schedule has been compiled from tho 2 Ex¥mple FIn￿Gi￿1 Ststem&nts Induded In Fe¢rÈl ReJsterlVol. 84, No. 18¢IMonday. September 23. 2019 1 Rulesgnd ReoulattLw. 2[&24 2024 2023 2023 £'OOD £'o £'ooo dNelA si&lemFnlol FIDoDual po$11￿￿- N¢1 Asgèts w1lhthiDonor Reslricuuns $13lemenlolFknan¢iBI P05rf￿Tr- t4el As$¢tswith Do￿r R¢strirbtylS statemenl th Flnandal Ptsaltlon- GorthiNI Statement of FlnanLlal P(4ltlon- Leas8 righl-of-use 5ssel11ab11ty pre-SnWleTh￿￿tstiQn Statemenl d FInan￿al Posltlon- ReLqted pwty rece4V3￿￿ and Relaied paty notedisdosure 20 21￿50 19.658 72,189 68.777 m￿lI￿d A55eis Slalgmgrtol Fkn?ndal P￿i￿n- Totsl Assetg 95,113 92.524 Note olthe Finanual St&lwnents- Slalgmgnlof Finawl P￿tio￿- L8?sé rl9hl-ol-us8 assgt pr ImplotnEnialion SLwtstneni ol Flnancial Poslllots- Lease righ1￿f- u%e as5el liab115ty p￿-1Mple￿￿1al￿n SLwlEmeniol Flrt8nci81 Poslllon Relaied party recelvable and Relalad p3ty nolp disdosurg Strtsm8nl DI Financial Posllyn- Related party reCe￿able 2nd Relaled paty noie dlsc1osu Néiirtcome Rgiio Slalom￿1 ofAthhWs-Charwkn NolAsso1s Withul Donoi Resc￿￿￿￿ 2.192 2,378 sialem￿l DIAG￿&125- INBI I￿￿edIr0￿ rEstri¢htybl.Tu Revfjnueand QhBrAthJi￿o￿5 and5ofFix& ASsBt&. g*in6 I1￿$¢$> 8.990 9,472 49

Notes to the Financial Statcment5 StAntony's College- Note5 to tho slatgments Fortho￿ar￿ndQd 31 July 2024 2024 2($2A 2023 2023 t￿00 £'ooo £￿00 rooo Stalementuf Finan￿￿1 PO¥l￿n- Net WEI3￿￿￿1dDntsr 21.850 19.656 Stalementof F￿aTr￿al POSI￿n- Net a8set8 dtsnor 72,18 68,777 Slatemeniot Fln8ncial P0511ion- Rektsd p8ty receiv3b￿ Rdaled party nolgdi$dosure Slatemenith Flnancial P051tion- Related paty roceivable ReLgted party Statement ol Finantial PoFibtin- Property, equ1prneni. 32A22 32.919 Nole ollhe Finan(ial Sl318rnents- Stabm8nl ol Fiv￿¢￿1 Position- Propptty, planiand eouipmeni- pre-lnW￿meThts￿ Noto of the FinaDci41 Statements- Stal8Mcrttof PosiboTh- Prop¢ty, ￿ar)I and equlpmènl- p091-Implèmenteiion wth OUtslandin9 debtfororlglTral purchase Note of the FinenciEI siatemen15- Statemenlol Fingne￿I PoEillon- ProF￿. pknlAnd equipment- w51-1m￿&m￿lation wlthoui outstsnding debtfororig￿l pui¢h8$e Naie of Ihe Fln8nclal Statements- Statem8ntol Flnand PtEi1Sgn- Con$tsucbtsn In prtyiÈSS Slstemenl olFln8ncial P051lon- Lease rIght￿l-USe assA nel Not9olth8 Finan¢1￿ StstetneniS- Slalfimenl Df Flnancl21 Posidon- Lgase d9hl-of-use asset P￿-l￿p￿rn￿nlaI1 Noleolthe Financi￿ StattmenLg- siaiemenl of FInanc￿l PoslUon- Lgase rtght-Df-u5e 3s$81 posi-impknFnl?tlon stsiemenlol Flnancial PosilioD G￿WIl SLglementol Financial Posillon-olhèr Intsnglbk 21,613 22.357 10412 1.793 10M09 8,769 Stalemenlof FiDan¢io1 Posthon- PEMSI 746 Slatemeni ol Flnanclal Po8llion- Noie P8Ydble8nd Lineof Credll for low-term purpose8 (￿th ¢uttenigTr¢ ttrml gnd Llne of Credilfor¢onslw¢tion in proc¢85 Ststetneni of Financl81 Po3ilion- NO￿ PayBb108nd Llne cl Cred lor long-18rrn puywses (both currenl atbd lory teiml and Lino o CreditlorCorhEtw¢UDn In ptpwsg State￿￿t￿ FiTrancls1 Posi￿On- NotF Payableand ￿The oler8dli for long-i￿rn pu￿Se5 Iboih currenl and low temil and Une of Credil lor Conslrucuon in proces¥ S&lernentof Financ￿￿1 PosiboD- Note payab￿ and Df Credit forlong-tenn purwsa5 IbDlhCur￿Thl and bno ierml8nd Ot Ciedrt lor Cons1r￿￿on ID pro￿￿5 Stam￿￿10[ Fln2ncbl P05nknn- Lease rlgN-of-useassel lIa￿lIty 2,OOD 2.0ty) 10+12 strtÈmeni olFinandal Ptssllk)n- Lease ri9hld-￿9e 355et liabilly S&lemenl ol ￿￿3￿¢1￿1 Posltun- Le￿ righl.uf-use a&sEI Ikbiyty posl-implementsl ststemEnl Df F￿8￿c￿l Posi1￿ll- Annuit￿$ 8tBlemenl of F￿￿(Val PosI1￿Tr- Terrn ststemeni of Finan¢￿1 Posi￿n- Lbl& Income Funds Statem8nl Df Financial POSI￿￿￿- perpe￿￿1 Funds 2Dend0￿m8nI Funds. P￿t￿￿lÈnt 11086 13,4

Notes to the Financial Statements St Amlony's Collego- Notos tothè ststements ForthE y@aF ended 31 July 2024 2024 2024 2023 2023 £'ooo t￿00 £'ooo Totsi Ex nses8nd Loss ststomEnlolArtwltle5- Totsl Opèratlng ExpÈnses (Til81 frnm statemeni of ACt￿lueS prlorto a6iuslm8n151 s￿lem￿ntO1ACIVI￿è5- NOn-0p￿ratIng IlnvestmeDI reiurn appropriated lorspendingl, Investmgnls, nei ol?nnual spwding 9ain Ilossl. Oihercotnwnents ol nel perlodicpension eosls. Pensi¢MI-ielated ehawes oihÈrlhBn nel periodlc pens￿n, chBnges 01￿[l￿an nel peri￿1c pension, Change in vglue ol splrt. lDtereslagr?e￿￿nu% 01t￿rgE￿n$ Ib551- (Tobl ftDm ststetnenlolA￿WIties prlorloadiuslmentsl SOFA-Total Expendi￿[& SOFA-Tolal Reluin + Nei yalns on Inve51m8nls 0,6gS 8.642 15,309} ststem&nl olA¢iivlles- Ilnvestfflenl re￿inapPrOpr￿￿￿ f ¥pen¢ingl Investsnents. thEtDf annual spendlng. g8in110551 SoFA.y￿ 15,9091 Stalementof AGlwile¥- Pern5￿￿ ielated th¥nF5 olhErthan per￿￿ pÈnslon POST BALANCE SHEETEVENT8 were Do pJ51 balanrF 5heetev9nls. PRIOR YEAR COMPARATIVES nt f Flnnu i Activllies far h YÈarend d 23 Unrp5kntied Funds Reslrlcied Fut￿$ Endowed Fut¥J$ t,￿0 2023 Total INCOME AND ENDOWAIENT8 FROM: ¢h8ritabh ac￿rtIo$., Tea¢hiro. re88arch and ￿￿d?￿lia1 Olbgr fradithg In¢0￿e Donhtlotvd and leyacle8 Inv8strnent5 Inyeslmenl I¥￿￿9 Totsl relurn alkntèted 10 kntome Tolal Sncorne EXPENDITURE ON.. Cliarltabl& acti￿11@B.. Teaching, TgSfiBrch and r951denll31 GonÈratlng fwds.. d.47 405 4873 405 4594 1,305 172 1.929 2,3D 848 2,156 9,475 11,772 5.55B 2.408 7,M6 369 369 306 Tr?dlng expenditure IrNostment Mal￿geT￿entcO&ts Totèl Expemdllur 6,234 2,d09 e,642 Net Incomel(Expendlluro} befor• galns 3.241 252 141 3,13f> Nel galns11￿&Ses)on itweslThnls Nat IncomellExpendlturel .419 12.2781 3241 12521 TrAnsfer& betwoon lunds 14et tThr)yompni In fund¥lorth•yoar Fund balartts brDughlloYward 212 1.OT5 11.2031 57,744 1378 17,280 12,70D 87,724 Fund? caFrledforoMrdal$l July 19.658 12.238 58,541 88,435

Notes to the Financial Statements St Anton￿8 ¢ollg9o- NDtE5 to the financial statemÈTht$ FoFthè yeargDdgd 31 Juty 2124 IN FUNDS 1 Aug 2022 £wo EXpEr￿tt￿re fooo TraD51ers £'wo Gain 31 Juty 2023 oo Endowment Fund8- Porm&nÈnt fal Fellowships fb) Support 10 Students Icl Llbrari8s &Arth￿￿5 fdl Centre Cosis 8.923 2.475 2.239 257 13661 8.6Z1 2,521 2,OP7 255 179 72 Totsl EndowmtsntFund5. ￿rn￿ng￿t 13.894 5S4 510 13,494 Endowmfyryt Fund•- Expendable ea) Fellowships ebl SuppDrtlo thdents l General ed) Cenlre C0515 eel Rese3rch efl Other 147 1S9 965 225 49 12 4,607 4,669 27,687 4,312 1,3S9 333 .748 27.728 4.532 1.539 397 IB3 12581 Total E￿dDWMuhtF￿nds. Expend4bl 43.850 1501 1.849 43,047 Total FvdtywmontFunds- Group 57.744 1885 2.41gi 56,541 Re8lrirt¢d F￿￿ tBI Fell(￿hipS Ibl Support 108ludeDI8 rcl Llbrarie& &ArchNe$ Idl Cenire costs ie) Rgsearch rfl cap1￿1 Hilda Be$5 rgl Gopksl InVÈStcoip th) Cwfergn(es4 SO￿n￿r$ l Other 189 319 219 14651 347 146 102 277 390 241 14 56 15 1288} 226 202 521 15211 11,4th) 520 75 11,270 15011 V2 Total R￿trIcted Fun¢ts. Collogg 12.7 636 12,236 Total Re51rlclpd Fund5 Gruup 12.7 1.308 2.408 638 12,238 Unre$tiiEtod Funds ual GErh2ral reseN83 ubl DAC &holarshlp cl Fixed asset de51gnaled udl Llbraries & Archwes .) Centrè Costs ull Hilda BessE BU1￿1￿ Fund ugl Wardens Fund uh) PellS1￿ Fll[￿ Llablllty 4,631 5,061 {4.997} 14,2821 53 413 13.373 1784) 19,820 337 142 3,100 5$ 367 47 373 TotAI lJn¥e51rScled FU￿￿￿- College 17,280 8,363 16,234 249 19,658 Total Funds 87.724 11,772 {8,642 88,435 62

Notes to the r-inancial Statements St Anlonvs Coll¢g¢-Not¢8to the flDancw1 ¥tatom•nts Forthpyq&rended 31 Jthly2024 STATEME FTOT TU Permarbonl Fndrmment Unèprlied Totsl Retvrn Exwnthb Total Endowmenl Endomnents Inveslmenl £'o 7.229 Tol81 £'wo 7.229 6.665 At 1stAugusl 2022 Gift cutnponeoi Dlthe pgrmanenteMow(nenl Unappligd toiol [P￿r￿ Exwndable endowmeni Total End¢thrnents £'OOD £'voo 7.229 6.665 43.6SO 57.744 8.865 43.850 43M50 7,229 8,885 13,894 FlovgmBhts th& roportlny pèrlod.. Glllof endowmenl fund$ InvostmBrtI relum". tutsl knve51menl IncL¥n8 Investment r0￿M.. rga115Ed unipalls•du*iN8and105$06 Less,, Inv&Stment Manayernent cosls Other translFrs Total 97 97 75 1,465 11,8501 464 156>1 1.929 15sg} 43 43 1.075 7ST 808 Unappllad total return allocated ID in￿rne Inlhe rep￿tr￿g PBnod Exppndllbk end0%￿nEnts Ir&n5feired to income 13491 13491 I4￿) 349 14001 Npl mo¥èments In report1￿9 perlod I4￿} At 3151 July2023 Gbflcompon8ntofth8 p8rmnBntént￿￿n1 U￿￿￿lIed tolal reiurn ExpoDd4ble èndowm8ni Total Endowrnenl$ 7.283 7,283 7,2 8,211 43,047 SQ541 8,211 43.047 43,047 7,2B3 4211 13,494