2020-09-30-accounts

Contents
Reportofthe Govemors	2
Statementofthe Governors' responsibilitiesinrespectoftheGovernors'Annual Report and Financial Statements16
Consolidated statementoffinancial activities (incorporating income and expenditure account)	18
Consolidated balance sheet	19
Charity balance sheet	20
Consolidated statementofcash flows	21
Cash flows from operating activities	21
Notes to the financial statements	22

		Unrestricted	Unrestricted
	Notes	General funds	Designated funds	Restricted funds	Total 2020	Total 2019
		£	£	£	£	£
Income
Donationsandlegacies	2	83,444		185,818	269,262	107,837
Investmentincome	3	13,282	3,000	15,352	31,634	34,017
_Income from charitable activities _
Income fromeducationalactivities	4	1,958,635	13,932	25,000	1,997,567	2,492,727
Income from other trading activities
Commercialbusinessincome	5	3,974			3,974	156,978
Totalincome		2,059,335	16,932	226,170	2,302,437	2,791,559
Expenditure
Fundraisingexpenses andothercosts	6	(18,915)			(18,915)	(51,148)
Commercialtradingoperations	7	(11,357)			(11,357)	(108,998)
Expenditure on charitable activities
Expenditureoneducationalactivities	S	(2,011 ,303)	(26,824)	(66,883)	(2,105,010)	(2,334,193)
Totalexpenditure		(2,041,575)	(26,824)	(66,883)	(2,135,282)	(2,494,339)
Unrealisedgainsoninvestments	_IS _	128		13,252	13,380	45,655
Netincome beforetransfers	lO	17,888	(9,892)	172,539	180,535	342,875
Grosstransfersbetweenfunds	25
Netincomebefore otherrecognisedgains		17,888	(9,892)	172,539	180,535	342,875
andlosses
Movementson revaluationoffixedassets
Netmovementinfundsfortheyear		17,888	(9,892)	172,539	180,535	342,875
Fundbalancesbroughtforward		6,037,752	6,856,926	575,677	13,470,355	13,127,480
Fundbalancescarriedforward	25	6,055,640	6,847,034	748,216	13,650,890	13,470,355

	_Note _	2020		2019
		£	£	£	£
Fixed assets
Tangibleassets	14	11,684,868		11,379,735
			11,684,868		11,379,735
Currentassets
Stock	16	9,397		6,207
Debtors	17	133,770		245,328
Cashatbankandin hand		1,396,275		1,664,075
Short-terminvestments	18	863,J72		849,792
		2,402,614		2,765,402
Creditors: amountsfallingduewithinoneyear	19	(224,435)		(437,780)
Netcurrentassets			2,178,179		2,327,622
Total assetslesscurrentliabilities			13,863,047		13,707,357
Creditors:amountsfallingdueaftermorethan	_20 _		(212,157)		(237,002)
oneyear
Netassets			13,650,890		13,470,355
Group funds
Restrictedfunds	24		748,216		575,677
Designatedfunds	24		6,847,034		6,856,926
Unrestrictedfunds	24		6,055,640		6,037,752
			13,650,890		13,470,355

	_Note _	2020		2019
		£	£	£	£
Fixed assets
Tangibleassets	14	11,666,842		11,359,610
Fixedassetinvestments	15	1		1
			11,666,843		11,359,611
Currentassets
Stock	16	9,397		6,207
Debtors	17	165,718		387,210
Cashat bank and in hand		1,368,696		1,501,387
Short-terminvestments	18	863,172		849,792
		2,406,983		2,744,596
Creditors:amountsfallingduewithinoneyear	19	(203,396)		(396,850)
Netcurrentassets			2,203,587		2,347,746
Total assets lesscurrentliabilities			13,870,430		13,707,357
Creditors:amountsfallingdueaftermorethan	_20 _		(212,157)		(237,002)
oneyear
Net assets			13,658,273		13,470,355
Groupfunds
Restrictedfunds	24		748,216		575,677
Designatedfunds	24		6,847,034		6,856,926
Unrestrictedfunds	24		6,063,023		6,037,752
			13,658,273		13,470,355

	2020		2019
	£	£	£	£
Cash flows fromoperatingactivities		217,754		648,336
Cash flows from investing activities
Acquisitionoftangiblefixedassets	(460,611)		(244,550)
Acquisitionofshortterminvestments
Proceedsfromdisposalofshort terminvestments			256,807
Netcash(outßow)/lnßowfromInvestingactivities		(460,611)		12,257
Financingactivities
Repaymentofborrowings		(24,943)		(30,049)
(Decrease)/increase in cash and cash equivalents in		(267,800)		630,544
the year
Cashandcashequivalentsatthebeginningoftheyear		1,664,075		1,033,531
Cashandcashequivalentsattheendoftheyear		1,396,275		1,664,075
Cash flows from operating activities
		2020		2019
			£	£
Netincome		180,535		342,875
Gainsoninvestments		(13,380)		(4'i,ó'i'i)
Depreciation		155,478		168,751
Increaseinstock		(3,190)		(1,992)
Decreaseilldebtors		111,~~R		7,118
(Decrease)/Increaseinnon-bankloancreditors		(213,247)		177,239
Nelcashflowfromoperatingactivities		217,754		648,336
AnalysisofChangesin Net Debt
	l'tOctober	Cash flow	Othernon-	30thSeptem ber
	2019	cashchanges		2020
Cashatbank and inhand	1,66t1,075	(267,800)		1,396,275
Bankloansdueinlessthanone year	30,049	(30,033)	29,935	29,951
Bankloansdueinmorethan oneyear	237,002	5,090	(29,935)	212,157
Totalnetdebt	1,931,126	(292,743)		1,638,383

2	Donations and legacies
		Unrestricted	Unrestricted
		general	designated	Restricted
		funds	funds	funds	Total	Total
		2020	2020	2020	2020	2019
		£	£	£	£	£
Alumnidonations		79,165		155,818	234,983	114,607
Legacy income		4,279		30,000	34,279	(6,770)
		83,444		185,818	269,262	107,837
Forthe yearended 30September2019		1,643		106,194		107,837
3	Investmentincome
		Unrestricted	Unrestricted
		general	designated	Restricted
		funds	funds	funds	Total	Total
		2020	2020	2020	2020	2019
		£	£	£	£	£
Bank and	otherinterest	13,282		15,352	28,634	28,017
Rentalincome frominvestment			3,000		3,000	6,000
property
		13,282	3,000	15,352	31,634	34,017
Fortheyearended30September2019		13,169	6,000	14,848		34,017

	U nrestricted	U nrestricted	Unrestricted	Restricted
		general	designated	funds	Total	Total
		funds	funds
		2020	2020	2020	2020	2019
		£	£	£	£	£
Maintenance fees	1,348,731				1,348,731	1,769,406
Collegefees		360,000			360,000	360,000
Conferences		15,565			15,565	184,862
Academicprojects			8,080	25,000	33,080	95,831
Otherincome		49,540			49,540	82,628
GovernmentGrants		184,799	5,852		190,651
	.. I"lI.I!"O ......",I!" J,:1;:'10,0-';:'I		i3,932	25,ûûû	i,99i,5ói	2,492,Î2ì
Fortheyearended 30September2019	2,396,896		32,081	63,750		2,492,727

				Unrestricted	Unrestricted
				general	designated		Restricted
				funds	funds		funds	Total	Total
				2020	2020		2020	2020	2019
				£		£	£	£	£
				:\,974				3,974	156,978
Fortheyearended	30	September	2019	156,978					156,978

		Unrestricted	Unrestricted
		general	designated	Restricted
		funds	funds	funds	Total	Total
		2020	2020	2020	2020	2019
		£	£	£	£	£
Merchandise expenditure		807			807	44
Other	expenditure					1,269
Alumni development and travelcosts		18,108			18,108	49,835
		18,915			18,915	51,148
For the year ended 30 September 2019		51,148				51,148
7	Expenditure from commercial trading operations
		Unrestricted	Unrestricted
		general	designated	Restricted
		funds	funds	funds	Total	Total
		2020	2020	2020	2020	2019
		£	£	£	£	£
Conferencesand accommodation		11,357			11,357	108,998
For the year ended 30 September 2019		108,998				108,998
8	Expenditurebycharitable	activity
Summarybyfund type
		Unrestricted	Unrestricted
		general	designated	Restricted
		funds	funds	funds	Total	Total
		2020	2020	2020	2020	2019
		£	£	£	£	£
Educational activities		2,01l,303	26,824	66,883	2,105,010	2,334,193
For the year ended 30 September 2019		2,200,985	37,472	95,736		2,334,193
Summary by expenditure type
			Staff	Other
			costs	costs	Total	Total
			2020	2020	2020	2019
			£	£	£	£
Educationalactivities			1,259,817	845,19.3	2,105,010	2,334,193

Summary	byactivity type	byactivity type
					Activities
					undertaken	Support
					directly	costs	Total	TotilI
					2020	2020	2020	2019
					£	£	£	£
Educational	activities				2,044,636	60,374	2,105,010	2,334,193
9 Educational		activities undertaken		directly
							1010	2019
							£	£
Studentcosts							251,894	310,013
Premisescosts							522,549	580,950
Conferenceexpenses							3,197	29,226
Academicprojects							7,178	23,219
Wagesandsalaries							1,030,276	1,052,430
Nationalinsurance							65,649	97,642
Pensioncost							163,892	140,960
							2,044,635	2,234,440
lO Supportcosts
							2020	2019
							£	£
Miscellaneous	expenditure						13,165	26,555
Officecosts							16,371	13,969
Governance	_costs _
Feespayable	toauditor						9,000	9,000
Professionalfees							13,318	39,576
Rankcharges							8,521	10,653
Other
							60,375	99,753
Net income
Thisis stated	aftercharging:						2020	2019
							£	£
Depreciation	oftangiblefixedassets
Ownedby	the charity						153,378	167,~76
Ownedby	tradingsubaidiary						2,100	875
Feespayable	toauditor:
-Auditoffinancialstatements							9,000	9,000
-Auditofthetrading		subsidiaryfinancial	statements				2,500	2,500
-Other fees								1,200

11 Staff costs
	2020	2019
	£	£
Wagesandsalaries	1,031,837	1,116,043
Socialsecuritycosts	65,649	97,642
Pensioncosts	163,892	140,960
RedundancyCosts		15,841
	1,261,378	1,370,486

	2020	2019
£60,000-£69,999
£70,000-£79,999
£80,000-£89,999
Pensioncontributionsfortheaboveemployeestotalled£17,418(2019:£15,325)
Theaverage numberofemployees,analysed byfunction,was:
	2020	2019
Academic andadministration	19	20
Support staff	32	38
	51	58

14 Tangible fixedassets
	Leasehold	Freehold
Group	land and	land and	Other
	buildings	buildings	fixed assets	Total
	£	£	£	£
Cost or valuation
Atthebeginningoftheyear	703,522	10,020,000	2,619,777	13,343,299
Additions			460,611	460,611
Disposals			(170,837)	(170,837)
Attheendoftheyear	703,522	10,020,000	2,909,551	13,633,073
Depreciation
Atthebeginningoftheyear	304,578		1,658,986	1,963,564
Charge for year	22,270		133,208	155,478
Disposals			(170,837)	(170,837)
Attheendoftheyear	326,848		1,621,357	1,948,205
_Net bookvalue _
At30September2020	376,674	10,020,000	1,288,194	11,684,868
Al30September2019	398,944	10,020,000	960,791	11,379,735

Following the building revaluationinSeptember 2018 the ollows:	cost or valuation statement as at 30 September 2020isas
	Land and
	buildings
	£
Atcost	703,522
At valuation	10,020,000
	10,723,522

	Leasehold	Freehold
Charity	land and	land and	Other
	buildings	buildings	fixed assets	Total
	£	£	£	£
Cost or valuation
At the beginningoftheyear	703,522	10,020,000	2,598,777	13,322,299
Additions			460,611	460,611
Disposals			(170,868)	(170,868)
Atthe endoftheyear	703,522	10,020,000	2,888,520	13,612,042
Depreciation
At the beginningofthe year	304,578		1,658,111	1,962,689
Charge for year	22,270		131,108	153,378
Disposals			(170,867)	(170,867}
At the endofthe year	326,848		1,618.352	1,945,200
Net book value
At 30 September 2020	376,674	10,020,000	1,270,168	11,666,842
At 30 September 2019	398,944	10,020,000	940,666	11,359,610

Following the building revaluation in September 2018 the ollows:	cost or valuation statement as at 30 September 2020 is as
	Land and
	buildings
	£
At cost	703,522
At valuation	10,020,000
	10,723,:'i22

	2020	2019
	£	£
Turnover	3,974	156,978
Costofsalesand administration costs	(11,157)	(10R,99R)
Net profit	(7,383)	47,980
Amountgift aided to the charity		(47,980)
Retained insubsidiary	(7,383)
Theassetsandliabilitiesofthesubsidiarieswere
Fixed assets	18,025	20,125
Current assets	29,280	174,664
Current liabilities	(54,687)	(194,788)
Total netassets/(liabilities)	(7,382)
Aggregate share capital and reserves	(7,382)

16 Stock
	Group	Group	Charity	Charity
	2020	2019	2020	2019
	£	£	£	£
Goodsforresale	9,397	6,207	9,397	6,207
17 Debtors
	Group	Group	Charity	Charity
	2020	2019	2020	2019
	£	£	£	£
Tradedebtors	8,001	71,207	8,001	59,230
Amounts owedbygroupundertakings			33,649	153,859
Otherdebtors	2,804	2,845	2,804	2,845
Prepayments	29,804	27,778	28,103	27,778
Accruedincome	93,161	143,498	93,161	143,498
	133,770	245,328	165,718	387,210

18	Short-term investments
		Unrestricted	general	Restricted	Restricted
Group and Charity					Elizabeth
		CCLA	Fixed term	CCLA	Griffiths	Total	Total
			investments		Trust	2020	2019
		£	£	£	£	£	£
Market value
Atbeginningofyear		357,147		445,560	47,085	849,792	1,060,944
Additions	inyear
Interestreceivable
Disposals	inyear						(256,807)
Transfers
Netgains/(Iosses)onrevaluation		128		20,203	(6,951)	13,380	45,655
Atendof	year	357,275		465,763	40,134	863,172	849,792

	Group	Group	Charity	Charity
	2020	2019	2020	2019
	£	£	£	£
Bankloans(note 20)	29,951	30,049	29,951	30,049
Tradecreditors	96,532	233,467	96,532	232,924
Socialsecurity and othertaxes	266	62,025	81	38,596
Othercreditors	1,692	6,330	1,692	6,330
Accrualsanddeferredincome	95,993	105,909	75,139	88,951
	224,435	437,780	203,396	396,850
Deferred income	Group	Group	Charity	Charity
	2020	2019	2020	2019
	£	£	£	£
Deferred incomebroughtforward	17,339	18,189	7,381	17,599
Amountsreleasedfrompreviousyear	(17,339)	(18,189)	(7,381)	(17,599)
Resourcesdeferredintheyear	59,098	17,339	40,744	7,381
Deferredincomecarriedforward	59,098	17,339	40,744	7,381
20 Creditors:amountsfallingdueafter more than oneyear
	Group	Group	Charity	Charity
	2020	2019	2020	2019
	£	£	£	£
Bankloans	212,157	237,002	212,157	237,002

Maturity-loans	2020	2019
	£	£
Aggregateamountspayable:
Withintwo andfiveyears	119,806	120,200
Morethanfiveyears	92,351	116,802
	212,157	237,002
Withinone year(note19)	29,951	30,049
	242,108	267,051

	Group	Group	Charity	Charity
	2020	2019	2020	2019
	£	£	£	£
Assetsmeasured at fairvaluethrough profit orloss	863,172	849,792	863,172	849,792
Assetsmeasured atamortisedcost	103,965	217,550	137,615	359,432
Liabilitiesmeasured atamortised cost	(377,228)	(595,418)	(374,728)	(587,875)

Theamountsfor all financialassetscarried at fair value areasfollows (group	and charity):
	Fair	Fair
	value	value
	2020	2019
	£	£
Non-derivative financial assetsat fairvaluethrough profitand loss
Short-terminvestments	863,172	849,792

Non-cancellableoperatingleaserentalsarepayableasfollows:	Non-cancellableoperatingleaserentalsarepayableasfollows:
	Group	Group	Charity	Charity
	2020	2019	2020	2019
	£	£	£	£
Withinoneyear	60,000	60,000	60,000	60,000
Within two tofiveyears	240,000	240,000	240,000	240,000
Morethanfiveyears	780,000	840,000	780,000	840,000
	1,080,000	1,140,000	1,080,000	1,140,000

				Revaluations/
	Brought			Un realised		Carried
	forward	Income	Expenditure	gains/(losses)	Transfers	forward
				on investments
	£	£	£	£	£	£
Designated funds
Revaluation reserve	6,624,094					6,624,094
Policy and Practice fund	17,832	13,932	(23,824)			7,940
Fixed asset funds	215,000	3,000	(3,000)			215,000
Total designated funds	6,856,926	16,932	(26,824)			6,847,034
Generalfunds
General funds	6,037,752	2,059,335	(2,041,575)	128		6,055,640
Total unrestricted funds	6,037,752	2,059,335	(2,041,575)	128		6,055,640
Restricted funds
Policy and Practice fund		25,000	(25,000)
Farmington Trust	2,892					2,892
Chaplaincy to the Arts	49,943					49,943
Elizabeth Griffiths Trust	47,085	1,071	(1,071)	(6,951)		40,134
Scholarships&Bursaries Fund	459,575	96,961	(14,281)	20,203		562,458
Emergency Covid Appeal		55,509	(16,786)			38,723
Chapel Legacy		30,000				30,000
Boat Club Fund	3,854					3,854
College Choir Fund	8,709	8,081	(8,709)			8,081
Other Funds	3,619	9,548	(1,036)			12,131
Totalrestrictedfunds	575,677	226,170	(66,883)	13,252		748,216
Totalfunds	13,470,355	2,277,437	(2,11 0,282)	13,380		13,650,890

				Revaluations/	Revaluations/
	Brought			Unrealised			Carried
	forward	Income	Expenditure	gains/(Iosses)		Transfers	forward
				oninvestments
	r	.[	£		£	£	£
Designatedfunds
Revaluationreserve	6,624,094						6,624,094
PoliciesandPracticefund	17,832	13,932	(23,824)				7,940
Fixedasset funds	215,000	3,000	(3,000)				215,000
Totaldesignatedfunds	6,856,926	16,932	(26,824)				6,847,034
General funds
Generalfunds	6,037,752	2,055,361	(2,030,218)	128			6,063,023
Totalunrestrictedfunds	6,037,752	2,055,361	(2,030,218)	12X			6,063,023
Restrictedfunds
PolicyandPracticefund		25,000	(25,000)
FarmingtonTrust	2,892						2,892
ChaplaincytotheArts	49,943						49,943
ElizabethGriffithsTrust	47,085	1,071	(1,071)	(6,951	)		40,134
Scholarships&BursariesFund	459,575	96,961	(14,281)	20,203			562,458
EmergencyCovidAppeal		55,509	(16,786)				38,723
ChapelLegacy		30,000					30,000
BoatClubFund	3,854						3,854
CollegeChoirFund	8,709	8,081	(8,709)				8,081
OtherFunds	3,61')	9,548	(1,036)				12,131
Totalrestrictedfunds	575,677	226,170	(66,883)	13,252			748,216
Totalfunds	13,470,355	2,298,463	(2,123,925)	13,380			13,b5M,27J
				~~~

				Revaluations/
	Brought			Unrealised		Carried
	forward	Income	Expenditure	gains/(Iosses)	Transfers	forward
				on investments
	£	£	£	£	£	£
Designated funds
Revaluationreserve	6,624,094					6,624,094
PoliciesandPracticefund	17,223	32,081	(31,472)			17,832
Fixedassetfunds	215,000	6,000	(6,000)			215,000
Totaldesignatedfunds	6,856,317	38,081	(37,472)			6,856,926
General funds
Generalfunds	5,807,146	2,568,686	(2,361,131 )	23,051		6,037,752
Totalunrestricted funds	5,807,146	2,568,686	(2,361,131 )	23,051		6,037,752
Restricted funds
PolicyandPractice fund		63,750	(63,750)
FarmingtonTrust	2,892					2,892
ChaplaincytotheArts	49,943					49,943
ElizabethGriffithsTrust	46,159	900	(900)	926		47,085
Scholarships&BursariesFund	348,533	103,312	(13,948)	21,678		459,575
BoatClubFund	2,510	7,156	(5,812)			3,854
CollegeChoirFund	11,325	8,709	(11,325)			8,709
OtherFunds	2,655	965	(1)			3,619
Totalrestrictedfunds	464,017	184,792	(95,736)	22,604		575,677
Totalfunds	13,127,480	2,791,559	(2,494,339)	45,655		13,470,355

				Revaluations/
	Brought			Unrealised		Carried
	forward	Income	Expenditure	gains/(losses)	Transfers	forward
				oninvestments
	£	£	£	£	£	£
Designatedfunds
Revaluationreserve	6,624,094					6,624,094
PoliciesandPracticefund	17,223	32,081	(31,472)			17,832
Fixed assetfunds	215,000	6,000	(6,000)			215,000
Totaldesignatedfunds	6,856,317	38,081	(37,472)			6,856,926
Generalfunds
Generalfunds	5,807,146	2,459,688	(2,252,133)	23,051		6,037,752
Totalunrestrictedfunds	5,807,146	2,459,688	(2,252,(33)	23,051		6,037,752
Rt:~lddt:tIfunds
Collegefees		63,750	(63,750)
FarmingtonTrust	2,892					2,892
ChaplaincytotheArts	49,943					49,943
ElizabethGriffithsTrust	46,15Y	900	(900)	926		~7,085
Scholarships&BursariesFund	348,533	103,312	(13,948)	21,678		459,575
BoatClubFund	2,510	7,156	(5,812)			3,854
CollegeChoirFund	11,325	8,709	(11,325)			8,709
Oth""rFunds	7,655	965	(l)			3,619
Totalrestrictedfunds	464,017	184,792	(95,736)	22,604		575,677
Totalfunds	13,127,480	2,682,561	(2,385,341 )	45,655		13,470,355

Group2020	Unrestricted	Designated	Restricted	Total
	Funds	funds	Funds	2019
	£	£	£	£
Tangible fixedassets	4,845,774	6,839,094		11,684,868
Cashat bank andinhand	1,146,015	7,940	242,319	1,396,275
Other net currentassets	276,007		505,898	781,905
Long term liabilities	(212,157)			(212,157)
	6,055,640	6,847,034	748,217	13,650,891
Group2019	Unrestricted	Designated	Restricted	Total
	Funds	funds	Funds	2018
	£	£	£	£
Tangiblefixed assets	4,540,641	6,839,094		11,379,735
Cash at bank andinhand	1,563,21I	17,832	83,032	1,664,075
Other net currentassets	170,902		492,645	663,547
Long termliabilities	(237,002)			(237,002)
	6,037,752	6,856,926	575,677	13,470,355
Charity 2020	Unrestricted	Designated	**Restricted **	Total
	Funds	funds	**Funds **	2019
	£	£	£	£
Tangible fixedassets	4,827,750	6,839,094		11,666,844
Fixedassetinvestments	1,118,437	7,940	242,319	1,368,696
Cashat bank and in hand	328,992		505,898	834,890
Othernet currentassets	(212,157)			(212,157)
Longtermliabilities
	6,063,022	6,847,034	748,217	13,658,274
Charity2019	Unrestricted	Designated	Restricted	Total
	Funds	funds	**Funds **	2018
	£	£	£	£
Tangible fixedassets	4,520,516	6,839,094		11,359,610
Fixedasset investments	1			1
Cashatbankandinhand	1,400,523	17,832	83,032	1,501,387
Othernetcurrentassets	353,714		492,645	846,359
Longtermliabilities	(237,002)			(237,002)
	6,037,752	6,~56,n6	575,677	13,470,3))