2021-07-31-accounts

		Page
Governing Body, Officers and Advisers
Report ofthe	Governing Body	5-13
Auditor's Report		14-21
Consolidated	Statement of Financial Activities	22
Consolidated	and College Balance Sheets	23
Consolidated	Statement ofCash Flows	24
Notes to the	Financial Statements	25-45

				1	2	5	6	7
Professor	Denise Lievesley	Retired September				x	x	X
		2020
Sir Michael Dixon		Principal since				x	x	x
		September 2020
Professor	Shourno
Bhattacharya
Dr Tim Clayden		Bursar					x	x
Dr David Cranston
Dr Richard	Cuthbertson	Secretary	to the			x	x
		Governing	Body
Professor	Mary Daly
Professor	Harry Daniels
Professor	Sarah Darby
Professor	Marella de Bruijn
Professor	Sue Dopson
Professor	Gary Ford
Professor	Peter Friend
Professor	Xiaolan Fu
Professor	Richard Gibbons					x	x
Professor	Mark Harrison
Professor	Keith Hawton
Professor	Elisabeth Hsu
Professor	David Hunter
Dr Stephen	Kennedy
Professor	Paul Klenerman
Dr Laurence Leaver		Medical Fellow
Professor	Richard McManus	Dean ofWelfare
Professor Tim Morris
Professor	Neil Mortensen
Ms Elizabeth Padmore		Barclay Fellow

Professor Rafael Ramirez
Professor Felix Reed-Tsochas	Academic Tutor
Dr Susan James Relly
Dr Jonathan Reynolds
Professor Jack Satsangi
Dr Michael Smets
Dr Alison Stenton	Senior Tutor
Dr Rebecca Surender	Vice Principal
Dr Mare Thompson	Tutor for Admissions
Dr Stephen Tucker	Dean of Discipline
Mr John Webster	Barclay Fellow
Dr Andrew White
Professor James Worrell

					Unrestricted	Restricted	Endowed	2021	2020
					Funds	Funds	Funds	Total	Total
				Notes	E000	C000	E000	ir000	r.'000
INCOME AND ENDOWMENTS			FROM:
Charitable activities:
Teaching, research	and residential				3,309			3,309	3,200
Other Trading Income					98			98	285
Donations and legacies					37	1,361		1,398	763
Investments
Investment income					1,504	140	30	1,674	1,714
Other income					139			139	252
Total income					5,087	1,501	30	6,618	6,214
EXPENDITURE ON:				6-9
Charitable activities:
Teaching, reseamh	and residential				6,689	495	6	7,190	6,591
Generating funds:
Fundraising					149			148	144
Trading expenditure					40			40	56
Investment management			costs		1			1	1
Total Expenditure					6,879	495	6	7,380	8,794
Net Incomel(Expenditure)		before gains			(1,792)	1,006
Net (losses)/gains on	investments			11,12	2,198	1,100	235	3,533	5,695
Net Incomel(Expenditure)					406	2,106	259	2,771	5,115
Net movement in funds	for the year				406	2,108	259	2,771	5,115
Fund balances brought forward				16	97,212	4,453	1,143	102,808	97,893
Funds carried forward at		31July		18	97,618	6,559	1,402	105,579	102,806

				2021	2020	2021	2020
				Group	Group	College	College
			Notes	5'000	5'000	6'000	5'000
FIXEDASSETS
Tangible assets			10	63,777	64,951	63,776	64,951
Property investments			11	28,870	27,500	28,870	27,500
Otherlnvestments			12	12,819	13,434	12,819	13,434
Total Fixed Assets				105,466	105,885	105,465	105,885
CURRENT ASSETS
Stocks				91	92	91	92
Debtors			14	572	522	567	685
Cash at bank and	in	hand		1,697	3,317	1,681	3,186
Total Current Assets				2,360	3,931	2,339	3,963
LIABILITIES
Creditors: Amounts		falling due within one year	15	1,315	5,949	1 311	5,947
NET CURRENT ASSETS/(LIABILITIES)				1,045	(2,018)	1,028	(1,984)
TOTAL ASSETS LESS		CURRENT LIABILITIES		106,511	103,867	106,493	103,901
NET ASSETS/(LIABILITIES) BEFORE PENSION LIABILITY				106,511	103,867	106,493	103,901
Defined benefit pension scheme liability			20	932	1,059	896	974
TOTAL NET ASSETS/(LIABILITIES)			18	105,579	102,808	105,597	102,927
FUNDS OF THE COLLEGE			17
Endowment funds				1,402	1,143	1,402	1,143
Restricted funds				6,559	4,453	6,559	4,453
Unrestricted funds
Designated funds				20,518	20,518	20,518	20,518
Green College				24,800	24,800	24,800	24,800
Other				803	803	803	803
General funds				5,042	6,133	5,024	6,167
Revaluation reserve				47,387	46,017	47,387	46,017
Pension reserve			20	(932)	(1,059)	(896)	(974)
			18	105,579	102,808	105,597	102,927

			2021	2020
		Notes	5'000	6'000
Net cash provided by (used in) operating activities		22	(5,430)	1,806
Cash flows from investing activities
Dividends, interest and rents from investments			1,674	1,714
Proceeds from the sale ofproperty, plant and equipment
Purchase of property, plant and equipment			(642)	(326)
Proceeds from sale of investments			2,778
Purchase of investments				(1,338)
Net cash (used in)/provided by investing activities			3,810	50
Change in cash and cash equivalents in the reporting	period		(1,620)	1,856
Cash and cash equivalents at the beginning ofthe
reporting pediod			3,317	1,461
Cash and cash equivalents at the end ofthe reporting
period		24	1,697	3,317

		2021	2020
Teaching, Reseamh	and Residential	2'000	F000
Unrestricled funds
Tuhlon fees		1,831	1,606
Other academic income		14	14
College residential	income	I,'M4	1,500
		3,300	3,200
Total Teaching, Research and Residential			3,200

OONAIION	S AND L	EGAC	IES
						2021	2020
						Cgoe	EOOD
Oonations	and Legacies
Unrestricted	funds					37	55
Reslrided funds						1,361	708
Endowed funds
						1,308	763
Curing the	year the Fellows		ofths Collage donated tgk for general College purposes	with no conditions attached	The
INCOME FROM OTHER TRAOING ACTIVITIES
						2021	2020
						Eogo	2000
Subsidiary	company	trading	income
Other trading income						00 205 90285

		2021	2020
		6'000	6'000
tinrestricted funds
Agricultural mnt
Commercial rent		1,387	1,563
Ogmr property income
Equity dividends			130
Income from fixed interesl stocks
Interest on fixed lerm deposits end cash
Other inveslmsnt	income
Benk inu!rest			21
Other internet
		1,504	1,714
Nestihfsd mr«rs
Agficulhirsl rsiil
Commsroal mnt
Other property income
Equity dividends		140
Income from fixed interest stocks
Internet on fixed term deposits and cash
Other investment	income
Bank interest
Other interest
Endoned funda
Agricultural rent
Commerdal rent
Other properly income internet
Equily dividends
Income from fixed interest stocks
Interest onfixe term deposits snd cash
Other invsslmsnl	income
Bank interest
Other
Total Inveshnent Income		1,674	~f,y

Endoned funda
Agricultural rent
Commerdal rent
Other properly income internet
Equily dividends
Income from fixed	interest stocks
Interest onfixe term deposits snd cash
Other invsslmsnl	income
Bank interest
Other

5	OTHER INCONIE
									2021	2D20
									F000	2'000
	Government Grants
	Unrsstncled funds								139	252
	Restnctsd funds
	Endowed funds
									139	252
	In 2021 Ihe College claimed 5120k(2020-2252K) end			Green Templeton		Services claimed f19k(2020- tnil)		in ra)aeon to the Coronavirus	tob
	Renteneon scheme. The	college also paid ag remaining			salaty end employee		benefits not covered by the scheme for sll relevant employees
6	ANALYSIS OF EXPENDITURE
									2021	2020
									6'000	EOOO
	Charitable expenditure
	Direct staff costs agocaled to:
	Teaching, research	and reedentiel							2 441	2,403
	Other direct costs allocated		to.
	Teaching, research	and residential							2,292	2.414
	Support end governance	costs egoceted to.
	Teaching, msearch	and residential							2,457	1,774
	Total charitable expendimre								7,190	6,591
	Expenditure on raising funds
	Direct stag costs allocated to.
	Fundraising								123	120
	Trading expenditure
	Investmsnl management		costs
	Other direct coals alocated lo:
	Fundraeing
	Trading expsndilure
	Investmsnl management		costs
	Support and governance	costs allocated lo,
	Fundrsising								26	24
	Trading expendilure
	Investment management		costs
	Total expenditure an raising funds								190	203
	Total expenditure								7,360	6,794
	The 2020 resources expended		of26794k mspesented	56296k fnim unrsstnctsd			funds, 2491k from restncled	funds and 65k from endowed	funds.

					Tsachrrrg
				Generating	and	Public		2021
				Funds	Research	Worship	Hemsge	Total
				E'000	5'DOO	E'OOD	5'ODO	COOO
Financial		admrnislration			180			109
Human		msources			104			104
IT				18	147			163
Depreciation					I.als			1,815
Other finance			charges		91			91
Governance			costs		30			32
				27	2,458			2,4SO
					Teaching
				Genemting	snd	Public		2020
				Furlrls	Research	Worship	Henlags	Total
				E'000	EDOO	EOOD	E'ODO	E'000
Financial Otherfinance		sdministrafion			182			190
Human	resources				155			155
rr				15	134			149
Dspreclrdrcn					1,302			1,302
			charge		f102)			(1027
Govemahce			costs		23			25

9	STAFF COSTS
					2021	2020
	The aggregate slalf costs for the year were as follows				2'000	2'000
	Satanas and wages				2,248	2,257
	Social sscurity costs				247	238
	Psnston costs.
	Defined benefit schemes				318	45
	Delinsd contributio schemes				80	51
	Other benefits
					2,873	2,591
	The average number	ofemployees	ofIhe College, excluding	Trustees,
	was as folowe				2021	2020
	Tuition and reseamh				14	14
	College residential				44	60
	Public worship
	Herilage
	Fundraising				4	4
	Support				11	13
	Total				73	91
	The average number	ofemployed	College Truslses during	the year was es follows.
	University Lecturers
	CUF Lecmrers
	Other leaching and research
	Other
	Total

10	TANGIBLE FIXEDASSETS
	Group 6Degage	Leasehold	Freehold	Plant snd	Fixtures,
		lend snd	land and	machinery	Sltrngs and
		buildings	buildings		equipment	Total
		2'ODO	2'ODO		2'000	8'000
	CostNaluation
	At start ofyesr'	IDI	66,751		2,509	09,441
	Addrtrohs		391		251	642
	Revaluation
	Drspcssls
	Atend ofyear	101	67142		2840	70003
	Depreciation snd impairment
	At slsrl cfyssf		2,013		1,633	4,490
	Dsprsaakon charge for the year		1,326		488	1,816
	Dspmciakon on mvalued assets
	Depreciation on disposals
	Impairment
	Atend of!rear	46	4,139		7.121	6306
	Nst book value
	At end ofyear	55	63,003		'T19	03,777
	Atstartoryear	57	63,930		956	04,951

Group 8	College					2021	2020
			Agncukurel	Commercial	Other	Total	Total
			E'000	5'000	t'000	EOOD	2'000
Valuation	al start ofyear			27,500		27,500	21,756
Additions	and impmvements	et cost
Oisposals
Revaluation gains/(fosses)		in Ihe year		1,370		1,370	5,744
Valuation	atend ofyear			26,670		28,870	27,500

Ag investmsnls are h	ald	al f	air value.
								2021	2020
								E'000	E000
Group investments
Valuakon at start ofyear								13,434	12,145
New money invested									1,338
Amounts withdrawn								(2,77$)
Reinvesled income
Investment management		fees
(oecreaseyincrease	in value		ofInvestments					2,163	(49)
Group investmenla	stand		ofyear					12,819	13,434
gilttilelt In!mt nestle!t
College investments	at	end ofyear						~12,8 9	13,434
Group investments	comprise:			Held outside	Held in	2021	Held outside	Held in	2020
				Ihe UK	the UK	Total	Ihe UK	the UK	Total
				EOOD	2'000	Gggo	EOOD	Eom	EOOD
Equity invsslmsnts					10,185	10,1$5		6,337	8337
Global multi-asset funds
Pmpsrty fufids					355	355			430
Fixed interest stocks
Alternative and other	investments
Fixed lerm deposits	and	cash			2 279	2,279		4,667	4,667
Total group investmenls								13,434	13,434

		Parent College	Green	GTC Design a
			Templeian	Build
			SsNIcss
		2'ODO	r.'DDD	2000
SOFA
Income		9,757	238	156
Expenditum		(7,004)	(220)	(156)
Donauon to	College under gift aid
Result for the year		2,753	10
)20)sacs	eat
Total sssels		107790	19	17
Total liabilities		(2,194)	(36)	(17)
Net funds st	the end ofyear	105506	(I7)

14	DEBTORS
			2021	202D	2021	2020
			Group	Gfoup	College	College
			0'000	BODD	5'000	2'000
	Amounts falling due	within one year:
	Trade deblors		19	100	10	109
	Amounts owed by College members		175	296	175	290
	Amounts owed by Group undertakings				(8)	162
	Loans repayable wilhin ons year
	Prepaymenls and accrued income		99	65	100	66
	Other debtors		279	52	279	52
			572	522	567	605
15	CREDITORS: falling	due within one year
			2021	2020	2021	2020
			Group	Group	College	CO0sgs
			OOOO	BDOO	Pogo	5'000
	Trade creditors		110		110	76
	Amounts owed to College Members
	Amounts owed to Group undertakings
	Taxation and social secun1y		137		130	137
	College contnbution
	Accrue)a end deferred	income	020	024	023	020
	Other creditors		240	4,914	240	4,914
			1.315	5,949	1,311

			At I Augiisl	Incoming	Resources		Gains(	At 31July
			2020	iesoumes	expended	Transfers	(losses)	2021
			CODD	6'DDD	CCDD	6'000	6'000	6'000
Endowment Funds		- Permanent
Student and academic support			1.137		(5)			1,132
Endowment Funds		- Expendable
Green College				30				30
Other							235	240
Total Endowment		Funds - College		30	(6)		235	1,402
Endowment funds	held by subsidiaries
Tom( Endowment		Funds -Group	I 143				235	1,402
Restricted Funds
SWdentSupporlFunds			I,IDI	337	(122)			1,315
Other Academic Support			2,133	652	(237)			2,548
Other Fuiids			1,219	512	(135)		1.100	2,696
Total Restricted	Funds - College		4,453	1,501	495		I IDD	6550
Restricted funds held by subsidiaries
Total Restricted	Funds -Group		4,453	1,501	495		1,100	6,559
Uhfestricted Fuhds
Designated funds			2D,510					20,518
Green College			24,800					24,800
Other			903					803
General funds			6,133	5,087	(7,005)		828	5,043
Revaluation reserve			46,017				1,370	47,387
Pension reserve			(974)		78			(896)
Total Unrestricted		Funds - College	97297	5087	(6 928)		2,'l98	97,654
Pension Reserve	held by subsidiaries		(85)		49			(36)
Total Unrestricted		Funds -Group	97,212	5,067	(6,879)		2 198	97,618
Total Funds			102808	6,618	(7380)		3533	105,579

FUNDS OF	THE COLLEG	THE COLLEG	E DETASS
The following	isa summary		of Ihe ongins and purposes	ofeach ofthe Funds
Endowment	Funds - Permanent
Student and	academic	support		A consolidation of gifts and donations	to Ihe College, where the income but not the
				capital must be used in support ofstudents and academic activities within Cofiege.
Endowment	Funds - Expendable:
Gmsn College snd Moriis			Tmsl	A consolidation ofgms and donations	to the college, similar lo permanent endowment
Endowment				in that they were given. or the College	has determined based on Ihe circumstances
				that they have been given, for the long	term benefi of Ihe College. However, the
				Governing Body may al their discrefion	determine to spend ag or perl ofIhe capital.
Restricted Funds:
Studentsupportfunds				Aconsolidation ofgdls and donations	where both income and capital can be used in
				support ofstudent scholarship and bursae provision.
Other academic support funds				Aconsolidation ofgas and donsfions	where both income and capital can be used in
				support ofacademe initiatives undertaken within the general purposes ofIhe College
Other funds				A consolidation ofgdls and donations	where both income and capital can be used in
				support ofCollege building projecls.
Designated	Funds
Fixed asset	designated	funds		Unrestricted Funds which are repmsenled by fixed assets ofths College and
				which are Iherefore not available for expenditure on Ihe College's general purposes.
Other desig naiad funds				Unrestricted funds currently allocated	by Ihe Governing Body forfuture costs of
				student and academic support This stood alto.sm at year end.
Revaluation	reserve			Created by the revaluation ofpraperty	inveslmsnts
Pension reserve				Representing the liability forfuture pension contnbuions under defined benefit schemes

		unrsstnoled	Restncled	Endowment	2021
		Funds	Funds	FUnds	Total
		2'OOD	EOOD	2'ODO	E'000
Tangible	fixed assets	63,777			63,77T
Property	investments	28,070			28,070
Other investments		4,050	6,559	1,402	12,019
Net current assets		1,045			1,045
Long teml liabilities		(932)			(932)
		ST,618	6,559	1,402	105,679
		Unmstnotsd	Restdotsd	Endowment	mm
		Funds	Funds	FUnds	Total
		E'000	2'000	E'ODO	5'000
Tangible	fixe assets	64,951			00061
Pmpsny Investments OtherinvesbnenLS		27,500 7,030	4,453	1,143	27,600 13,434
Nst oulvsht assets		(2.010)			(2,D10)
Long tenn lisbdltiss		(1.059)			(1,059)
		97,212	4,453	1,143	102,800

20	PENSION SCHEMES
	Pension accounting policy The College participates in Universities Superannuation Scheme and the Univerwty ofOxford Staff Pension Scheme. These schemes are
	hybnd pension schemes, providing defined benefits based on satanas as well as benefits based on contnbubons,
	The assets ofthe schemes are each held in a separate trustee-administered fund. Because ofthe mutual nature ofthe schemes, the
	assets applicable to the defined benefit membership are not atlnbuted to individual Colleges and scheme-wide contribution rates are set.
	The College is therefore exposed to actuarial risks associated with other UniversiTies' and Colleges' employees and is unable to identify	its
	share ofthe underlying assets and liebrlrfies ofthe defined benefrt scheme on a consistent and reasonable basis.
	As required by Section 28of FRS 102 'Employee benefits', the College accounts for the schemes as if they were wholly defined
	contribution schemes and contnbubons tothese schemes are recognised es a hsbility and an expense in the period in which the satanas
	to which the contributions relate are payable.
	The College has entered into agreements for both schemes (the Recovery Plena) that determine how each employer within the schemes
	will fund the overall scheme deficits A liabihty is recognised at each balance sheet date fcr the dacounted value ofthe expected future
	contribution payments under these past service deficit funding agreements with changes to these liabilities bemg recognised as an
	expense rn the penods rn which the changes occur
	PENSION SCHENIES
	The College participates in the Universities Superannuation Scheme ( USS'I and the University ofOxford Staft Pension Scheme ('OSPS') on behalf its fellows snd staf plus NEST
	As explained rn the accounting policies, due to insufficient information berng available to enable the College to use defined benefit
	accounting forthe USS and OSPS, in accordance with the provisions of FRS 102 both schemes are accounted for as ifthey were defined
	contribution schemes.
	Both schemes have put in place agreements for additional contributions lo fund their psst servos deficits and the College has recognised a habrlity for the present value ofthe future contributions that 4esbmates will be payabie ss a result ofthese deficit funding agreements as
	explained below and reported in note 28.
	In the event ofthe withdrawal ofeny ofthe partiopatrng employers in USS or OSPS, the amount ofany pension funding shorffall (which
	cannot be otherwise recovered) in respect ofthat employer will be spread across the remaining participating employers and reflected in
	the next actuarial valuation ofthe scheme.
	The University hss also made available the National Employment Savings Trust for employees who are eligible under automatic
	enrolment regulations to pension benefits but not eligible for either USS or OSPS
	Universities Superannuation Scheme
	The USS corn pnses two perte, USS Retirement Income Builder which is s defined benefit arrangement and USS Investment Builder which
	is a defined contribution arrangement. However, as explained above, both parts are accounted for as ifthey were defined contribution
	arrangements. The pension charge forthe year in the Statement of Financial Activities includes 5195518(2020 - 2118148) in relation to the USS.This represents normal contributions of8272,478 (2020-5284,882) payable to the USS together with the change in the deficit funding liability between the opening and closmg balance sheet dates of(576,962)(2020 —(5403,030)).
	The latest triennial actuarial valuation ofthe USS defined benefit liabilities was prepared as at 31 March 2020 and the related actuarial
	report and contribution determrnalron were shared with the USS's Joint Negotiating Committee (JNC) (which represents employers end
	scheme members) in March 2021,
	This report sets out increases in pension ccntnbutions that would be necessary to manta in the scheme's existing benefas under three scenarios. 1he most favourable ofthese scenanos required an overall contnbution rate of42 I55with higher rates for the other scenarios of49.8%and 582'4. These compare to the current overall conb ibution rate of30.7'4. The scheme deficit as at March 2020 also varies depend rig on the scenario from 514.9bn to 517Qbn (on a technical provisions basis).
	In response tothese rising costs of providing the scheme's current benefrls, the JNC has proposed changes to the way future benefxs are
	built up which, 4agreed, will pave the way for the introduction of new contribution rates.
	Any changes are still subiect to s statutory employer-led consultstron with affected employees and their representatives and, because of
	the necessary time for this, USS mformed The Pensions Regulator that it was not possible to complete the 2020 valuation by the statutory deadline of30June 2021.The cunsnt expectation is that the valuation process will not conclude until late 2021 or early 2022.

RECONCILIATION OF NET	RECONCILIATION OF NET	INCOMING	INCOMING	RESOURCES TO
NET CASH FLOW FROM OPERATIONS							2021	2020
							Group	Gfcup
							E'000	2'000
Net movement In funds for		lhe	year				2,771	5 115
Elimination of non-operating		cash iowa
Investment income							(I 674)	(1,714)
Losses/(Gains) in investments							t3,533)	(5.695)
Endowment donations
Depraaedon							1,816	1,302
Decrease/(Incmase)	in stock						I	12
Decrease/(Incmase)	in deblom						(50)	443
Increase/(Decrease)	in creditors						(4,634)	2,580
(Decrease)/Increase	in provisions
(Decrease)/increase	in pensian		scheme	liability			(127)	(317)
Net cash provided by operating activiTies							(5,430)
ANALYSIS OF CHANGES IN NET DEBT
					At start		At end
					otthe		ofthe
					year	Ceshflows	year
					E'000	E'000	0'000
Cash					3,317	(1,620)	1,097
Deposits and other short lerm investments					4,667	(2,300l	2,279
Loans falling due after more		Ihan ons year
Total					7,984
ANALYSIS OF CASH AND CASH EOUIVALENTS
							2021	2020
							E'000	E'000
Cash at bank and in hand							1,897	3,317
Notice deposils gsss	than 3	monlhs)
Batik ovoid/afls
Total cash and cash	equivalents						~097	3,317

The finanoal slatemenls include Ihe following	The finanoal slatemenls include Ihe following	The finanoal slatemenls include Ihe following	The finanoal slatemenls include Ihe following	in	respect	ofitems held at	fair value
								2021	2020	2021	2020
								Gfoap	Group	College	College
								k'000	6'000	MOOD	6'ODO
Financial	inslmments	that are debt instruments			measured	at seitlement	value:
Trade debtors								19	IDO	19	109
Amounts	owed by College members							175	296	I'75	296
Amounts	owed by Group undertakings									Ie)	162
Loans repayable mthin		one year
Other debtors								279	52	279	52
Financial	liabilities measured at sedlemenl		value
Tmde creditors								(110)	(77)	(110)	(76)
Amounts	owed to College membem
Amounts	owed to Group undertakings
College	contribution
Other creditors								(240)	(4914)	(240)	(4,914)
								123	(4,534)	117	(4,371)

				Unreslricted	Restncted	Endowed	2020	2019
				Funds	Funds	Funds	Total	Total
			Notes	6'000	2'000	2'ODO	6'000	E'000
INCOME AND ENDOWMENTS		FROM:
Charitable activiTies:
Teaching, rsseamh and	residential			3.200			3,200	3,179
Public worship
Donations and legacies				55	700		763	791
Investmenls
Investmenl income			4	'I214			1,714	1,430
Tolel return allocaled lo	income		13
Total income				5,006	700		6,214	5,614
EXPENDITURE ON:
Charitable activities:
Teaching, research and	residential			6,095	491	5	0,6af	7,909
Public worship
Generating funds:
Fundraising				144			144	132
Trading expenditure				58			58	40
Investmenl management	costs			I			I	I
Total Expenditure				6,290	491	5	0,T94	8,162
Net Incomal(Expenditure)	before gains			(702)	217	(5)	(500)	~E64
Net gains/(losses) on inveslments Net Incomer(Expenditure)			10,11	5,716 4924	(17) 200	(4) (0)	5,005 5115	1,023 ~(t 5 5)
Transfers between funds			15
Net movement in funds for the		year		4,924	20D		5,115	(1,525)
Fund balances bmught forward			15	92,208	4,253	1,152	97,693	09210
Funds canisd forward at	31July		17	07,212

The 202D	parent and subsi	diary undertakings income	and expenditure were as follows:
			Parent Cogegs	Gr88n	GTC Design 0
				Templeton	Build
				S8Nicas
			E.'000	EOOD	DODO
SOFA
Income			11,809		100
Expenditure			(6,602)	(12)	(100)
Donaaon	lo College under	gift eid
Result for	the year		5,127	(12)

ii.	ANALYSIS OF MOVEMENTS ON FUNDS	ANALYSIS OF MOVEMENTS ON FUNDS
			At I August	Incoming	Resources		Gains/	At 31July
			2019	msovmss	expended	Transfers	(losses)	2020
				2'000	2'000	6000	6'000	E'000
	Endowment Funds - permanent
	student and academic support		1,145		(4I		(4)	1.137
	Permanenl2
	EndowmentFunds-Expendable
	Green College
	Other
	Total Endowment	Funds - College	1,152		(5)		(4)	1 143
	Endowmenl funds Total Endowment	held by subsidieries Funds - Group	1,152		(5)		~4)	1,143
	Restricted Funds
	Student Support Funds		1.040	174	(121)			1,101
	Other Academic Support		2 030	338	(234)			2,133
	Other Funds Total Restricted	Funds - College	1.175 4 253	196 708	(136) (491)		(17) ~17	1,218 4453
	Restnmed funds held by subsidianes
	Total Reetnctsd	Funds - Group	4,253	708	(491l		(17)
	Uiinistf feted Fuhds
	Designated funds		20518					20,518
	Green College		24,800					24,ggo
	Omar		803					803
	General funds		7,270		(6615)		(28)	6,133
	Revalualion reserve		40,273				5,744	46,017
	Pension reserve		(I 269)		295			(974)
	Total Unreseicted	Funds - College	92,395	5506	(6320)		5716	97297
	Pension Reserve	held by subsidianes	(107)		22			(85)
	Total Unrestricted	Funds - Group	92,288	55ml	(6298)		5716	97212
	TolalFunds		97693	6,214	(6,794)		5,695	102,808

31	US DEPARTMENT OF EDUCATION FINANCIAL	US DEPARTMENT OF EDUCATION FINANCIAL	RESPONSIBILITY SUPPLEMENTAL	RESPONSIBILITY SUPPLEMENTAL	RESPONSIBILITY SUPPLEMENTAL	RESPONSIBILITY SUPPLEMENTAL	RESPONSIBILITY SUPPLEMENTAL	RESPONSIBILITY SUPPLEMENTAL	RESPONSIBILITY SUPPLEMENTAL	SCHEDULE	SCHEDULE	SCHEDULE	SCHEDULE
	In sabsfacbon of ils oblrgasons to facilitate students'			access to Us federal finandal					aid, the		collage		is required,			by the Us Department			of Education,
	to present the follomng Supplemental Schedules		in	a prescnbed fomiat
	The schedules have been
	prepared under Ihe histoncal	cost convenson,	sublect to ths reveluabon					ot certain tlxed				assets
	prepared using United Kingdom generally accepted accounsng practice,							in acconlance				with Financial			Reporting		standard	102
	(FRE102) and the statement	of Recommended		practice Accounsng		for FuMar and					~igher Education (2019edibon),
	presented in pounds atening
																		2021		2020
																	E'000		2'000	0.'000
	Expendable Net Assets
	Statement ofFinanual Posibon .Nel assets without				Net assets mlhout			donor	reslnctions										97,610		97212
	donor restncaons
	statement of Finanual posaon - Net assets wdh donor				Net assets mth	donor Nslnotions													7,961		5596
	nwuictions
	Statement ofFinanual Posibon - Related party				Secured and Unsecured				related		party mceivable							175		296
	receivable and Related pariy note	disdosum
	Statement ofFinanual Posaon - Related party				Unsecumd n:lated			party	receivable										175
	receivable end Related pa note	disdosure
	Statement ofFinanoal Position - Pmperiy, Plant end				Pmperty plant and			equipmsnt,		net (includes										92451
	e ul menL net				ConstruMon in			mss
	Note ofthe Finanuat Stalemenls	Slabrmsnt of			Property plant and equipmsnl.						preumplemenlation								'I2,005		92125
	mnanual Position - Properly, plant	ard equipmsnt	-	prs-
	implementation
	Nota of Ihe Finandal Statements	-Statement of			properly. plant and			equipmenl		-	postumplementabon
	Finanual Posibon - Property, plant	and equipmerit		post	with outstanding	debt for			onginal		purchase
	Implementation wth oulslancing debt for ong inc)
	purchase
	Nots of the Finsndel Statements	- Statement of			property, plant and equipment					-	post implementation								sa2		326
	Finanuel Posibon - Property, plant	end equipment	-post		without oulstancing			debt	for anginal			purchase
	implementabon without outslsncing	riebl for onginal
	purchase
	Note of the Financial Statements	-Statement of			Construction in	pmgress
	Finanoal Position Conslrucaon in pro ress
	Statement of Finenual pcsibon -	Lasso nghtxrause			Lease nght-of-use			asset,	nel
	assets. net
	Nots ofthe Finandal Statements	-Statement of			Lease nghltof-uss			asset	prs-implememetion
	Finanual Pssaon - Lease nght-of-use asset pre-
	implementauon
	Note ofthe Finanual Statements	- Statement of			Lease nght-of-use			asset	post-implementeaon
	Finanual Position - Lease right-of-use asset post
	imulemenlabon
	Statement of Finanual Poation -Goodwill				Intangible assets
	statement ofFinanual position uythsr intangible assets				Inlangble assets
	Statement ofFinanual Poabon -	Postwmployment		and	Postwmployment			and penaon		liabilibes									932		1059
	enaon liabiblies
	Statement ofFinancial Posibon -	Nots Payable snd			Long-tenn debt	- for long term				pumoses
	ILine ofCredit for long term purposes (both cunent		and
	long term) and Line ofCredit for Conslrucgon in process
	Statement of Finanual Position -	Note Payable and			Long-term debt		for long term			purposes			prs-
	ILine ofCredit for long.term purposes (both current		and		implemenlation
	long lenn) and Line ofCredit for Conslrucbon in process
	Statemenl ofFlnandal Powtion -	Note Payable snd			Long-term debt	-	for long tenn			purposes			post-
	ILine ofCredit for long-tenn purposes (both current		and		implemenlabon
	long term) end Line ofCredit for Con stmcbon in process
	statement of Finanual poason -	Note payable and			Line ofCredit for		Conslrucbon			in process
	Line ofctacit for long-term purposes (boih cunent		and
	ilong lean) snd Line of Credl lor Construmion in process
	Statement of Financial Posigon	Lease righl-of-usa			Lease rightwf-use			asset	liebilxy
	asset liabili
	Statement of Finance) Poabon -	Lease nght-of-use			Pre-implemenlebon			nghlud. use			leases
	asset liability reqmplementabon
	Statement of Financwl Poetion -	Lease nght-of-use			Postumplemenlabon			nghtvri-use				leases
	asset liebili sl-im lemsrrlebon
	Statement of Finanual Posibon -	Annulbes			Arinullies with donor mstrioions
	statement ofFinancial poaalon -	Term endowments			Tenn endowments			with	donor	reslridions
	Statement ofFinanual Posaon -	Life Income Funds			Life income funds			with donor reslricbcns
	Statement ofFinanual Position -	Perpetual Funds			Net assets mlh	donor iaslrlcsons:						restnosd		in
					oerpetuitv

US DEPARTMENT OF EDUCATION FINANCIAL	US DEPARTMENT OF EDUCATION FINANCIAL	US DEPARTMENT OF EDUCATION FINANCIAL	RESPONSIBILITY	RESPONSIBILITY	RESPONSIBILITY	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued	SUPPLEMENTAL SCHEDULE (conEnued
															2021		2020
															2'000	Edda	8'000	EYIIM
Ydtal Expahuls ahd Losses
sletemmit ofActiums- Total Operating Eimens!B				Total expenses			without		dcnm mBncli one- laban							7,580		67I4
ITolal from Statement ofAclivdes	pnor to adlustmenls)			iliractly from		statement			of	Acbvdies
Statement ofAclivites - Non-Gperat ng (Investment				Non Gpersbng			snd	Net	investment				goes)			-5,207		7409
return appropnalsd for spending),	Investmsnts	net	of
annual spending gain goes), Other components		of	net
penodic pension costs, Pension-related changes		other
man net periomc pension, cnanges otner tnan net
penodic pension, Change in value	ofsplit-interest
agreements and Other gains (loss) - (Total from
Statement ofActivibes pnor to aC)ustments)
Slalement ofAcbvitss - (Investment return appmpnsted				Net Investment			losses									.5,837		-i665
for spending) end Investments net of annual spending
garrt (loss)
Statement ofActivihes - Pension	related changes other			pension-related			changes			other than			net penocrc costs
than oanoCkc oensron
US DEPARTMENT OF EDUCATION FINANCIAL			RESPONSIBILITY			SUPPLEMENTAL					SCHEDULE			(continued
															2021		2020
															2'000	E'000	Eoaa	E'000
Modifi d N t Ass ts
Statement of Finanmal Position -	Net assets without			Nst assets without				donor		rsstnc8ons						97,610		97212
dohor rrtsurcltohs
Statement ofFrnanmal Position -	total Net assets with			Net assets with			donor restncbons									7,961		5596
donor restncbons
Statement of Finanual Posiaon -	Goodwill			Intangible	assets
Statement of Financial PosRon -	Rslalsd party			Secured	and Unsecured					related		party receivable			175		296
receivable and Related pa nots	disclosure
Statement of Finanual Posdon -	Related party			Unsecured		misled		party receivable								175		296
receivable and Related party note	disclosure
Us DEPARTMENTDF EoucATIDN FINANclAL			REEPDNBIBIUTY			sUPPLEMENTAL scHEDULE(cmdlnuatE
															2021		2020
															Pdgo	0'000	F:000	8.'000
Modified Asrms
Statement of Financial Position	Total Assets			Total Assets												107,026		109816
Note ofthe Ftnandal Statements	-Slatement ol			Lease nght-of-use				asset prevmplemenlatian
Finsnual position -Lease nghtmf-uss easel prs-
Implementabori
Statement of Finandal Position -	Lease nghtcrf-uss			Pre-implementabon				nghtureusu				leases
asset lrabrli pra-r lementatron
Statement of Financial Position	Goodwrg			Intangible	assets
Statement of Financial Position -	Related party			Secured	and Unsecured					related		party receivable			175		296
rscwvabls and Related party nots	disclosure
smrement or Finandai posBon -	Raisted pany			Unsecured		related		party receivable								175		296
receivable and Related party nota	disclosure
US DEPARTMENT DF EDUCATION FINANCIAL			RESPONSIBILITY			SUPPLEMENTAL SCHEDULE (continued)
															2021		2020
															F:000	0'000	Cggg	Bogg
Net Income Ratio
Statement ofAcbvities - Change	in Net Assets Without			Change	in Net		Assets Without Conor Reslnctions
Donor Restrtclions
Statement ofAcbvitiss - (Net assets released from				Total Revenue			and	Gains								4,94I		4500
reslnction), Total Operating Revenue and Other
Additions and Sale cfFixed Assets gains (losses)