OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-07-31-accounts

(2) (3) (4)
Dr Alexandra
Alvergne		 Retired wef 30September 2020
Professor Jan-Emmanuel De Neve
Rev Alex Bradley
Dr Eric Eve
Mr Brian Fidler x x
Dr Gina Hadley
Mr Harry Henderson
Professor Richard Hobbs
Dr Hayley Hooper
Dr Joshua
Hordern
Mr George Hudson
Mr Peter Hyde
Dr Catherine
Jackson
Dr Crispin Jenkinson
Dr Linda Hulin
Mrs Susan
Killoran
Ms Victoria
Lifl
Professor William
Mander
Professor Diane Mayer
Dr Ross McAdam
Professor Kate McLoughlin
Professor Alister McGrath
Professor Alex Nicholls
Dr Sina Ober-Blobaum Retired wef 13March 2020
Professor Patrik Rorsman
Professor Ronald Roy
Dr Isabel Ruiz Joined wef 1 January 2020
Professor Jane Shaw

Professor Lesley Smith
Dr Harrison
Steel		 Joined wef 1 October 2020
Dr Kristin van Zwieten
Dr John Vella
Dr BeeWee

The senior staff ofthe College to w hom day to day management
is delegated
are as f		 ollows.
Princi pal Jane Shaw
Bursar Peter Hyde (from 9September 2019)
Senior Tutor Lesley Smith
Academic Administrator Victoria
Lill, Ashley Walters (maternity
2020)		 cover from 18 May

Unrestricted Restricted Endowed 2020 2019
Funds Funds Funds Total Total
Notes E000 E000 E'000 8'000 E000
INCOME AND ENDOWMENTS FROM:
Charitable
activities:
Teaching,
research and residential		 1,742 1,742 2,097
Public worship
Hentage
Other Trading Income 2 2 7
Donations
and legacies		 112 817 929 1,578
Investments
Investment
income		 508
Total return allocated to income
Other mcome 182 182
Total income 2,501 817 3,318 4,190
EXPENDITURE ON:
Charitable
activities:
Teaching, research and residential 2,641 1,425 4,057 4,243
Public worship
Heritage
Generating
funds:
Fundraising 70 116 52
Trading expenditure
Investment
management		 costs
Total Expenditure 2,693 1,495 1 4,189 4,304
Net Income/(Expenditure) before gains
Net gains/(losses)
on investments		 10 (412) (412) 660
Net Income/(Expenditure) (192) (678) (413) (1,283)
Transfers between funds 15 7 (5) (2)
Other recognised gains/losses
Gama/(losses)
on revaluation		 offixed assets
Actuarial
gains/(losses)		 on defined benefit pension schemes
Net movement
in funds for the year		 (185) (683) (415) (1,283) 546
Fund balances
brought
forward		 15 1,825 24,973 14,786 41,584 41,038
Funds carried forward at 31July 1,640 24,290 14,371 40,301 41,584
2020 2019
College College
Notes 6'000 E000
FIXEDASSETS
Tangible assets 9 25,465 25,917
Heritage assets 10
Property investmenls 10
Other Investments 10 14,371 I4,786
Total Fixed Assets 39,936 40,703
CURRENT ASSETS
Stocks 9
Debtors 460 490
Investments
Cash at bank and in hand 1,249 2,114
Total Current Assets 1,728 2,613
LIABILITIES
Creditors: Amounts falling due within one year 12 619 997
NET CURRENT ASSETS/(LIABILITIES) 1,109 1,616
TOTAL ASSETSLESS CURRENT LIABILITIES 42,319
CREDITORS: faSlng due after more than one year 13 270 270
Provisions for gabglties and charges 14
NET ASSETS/(LIABILITIES) BEFORE PENSION ASSETOR
LIABILITY 40,675 42,049
Defined
benefit
pension		 scheme Sabillty 19 374 465
TOTAL NET ASSETSI(LIABILITIES) 40,301 41,584
FUNDS OF THE COLLEGE 15
Endowment
funds		 14,371 14,786
Restricted funds 24,290 24,973
Unrestricted
funds
Designated
funds		 1,679 1,689
General funds 335 601
Revaluation
reserve
Pension reserve (374) (465)
40,301 41,584
2020 2019
6'000 E'000
Net cash provided
by (used in) operating		 activities 22 1,186 148
Cash flows from investing
activities
Dividends,
interest
and rents from investments		 508
Proceeds from the sale of property, plant and equipment
Purchase of property,
plant and equipment		 (143) (15,623)
Proceeds from sale of investments 753 282
Purchase of investments
Net cash provided
by (used in) investing		 activities
Cash flows from financing
activities
Repayments
of borrowing
Cash inflowe from new borrowing
Receipt of endowment
Net cash provided
by (used in) financing		 activities
Change
in cash and cash equivalents		 in the reporting period (866) (14,958)
Cash and cash equivalents
at the beginning		 ofthe
reporting
period		 2,114 17,072
Change
in cash and cash equivalents		 due to exchange
rate movements
Cash and cash equivalents
at the end of		 the reporting
period 24 1,248 2,114

1 INCOME FROM CHARITABLE INCOME FROM CHARITABLE ACTIVITIES
2020 2019
Teaching, Research and Residential 2'000 2'000
Unrestricted
funds
Tuihon fees - UK and EU students 403 455
Tuition fees - Overseas students 572 607
Other fees 110 55
Other HEFCE support
Other academic income
College residential
income		 657 980
1,742 2,097
Restricted funds
Tuition fees - UK and EU students
Tuition fees - Overseas students
Other fees
Other HEFCE support
Other academic
income
College residential
income
Endowed
funds
Tuition fees - UK and EU students
Tuition fees - Overseas students
Other fees
Other HEFCE support
Other academic income
College residential
income
Total Teaching, Research and Residential 1,742 2,097
Public womhlp
Unrestricted
funds
Choir school fees
Other
Restncted funds
Choir school fees
Other
Endowed
I'unde
Choir school fees
Other
Total Public worship
Heritage
Unrestricted
funds
Heritage
Income
Other charitable
income
Restricted
funds
Hentage
Income
Other chantable
income
Endowed
funds
Hentage
income
Other charitable
income
Total Heritage
Total income from charitable activities 1,742 2,09'I

2 DONATIONS
AND		 LEGACI ES
2020 2019
6'000 2'000
Donations
and Legacies
Unrestricted
funds		 112 148
Restricted
funds		 81'7 1,428
Endowed
funds		 2
929 1,578
3 INCOISE FROM OTHER TRADING ACTIVITIES
2020 2019
000 E000
Subsidiary
company		 trading income
Other trading
mcome
2 7
4 INVESTMENTINCOISE
2020 2019
8'000 2'000
Unrestricted
funds
Agricultural
rent
Commeroal
mnt		 12 11
Other property
income		 13 23
Equity dividends 429 445
Income from fixed interest stocks
Interest on fixed term deposits and cash
Other investment mcome
Bank interest 29
Other interest
463 508
Restncted
(unde
Agricuihural
rent
Commemial
rent
Other property
income
Equity dividends
Income from fixed interest stocks
Interest on fixed term deposits and cash
Other investment income
Bank internet
Other interest

ANALYSIS OF EXPENDITURE ANALYSIS OF EXPENDITURE ANALYSIS OF EXPENDITURE
2020 2019
2'000 C000
Charitable
expenditure
~irect staff costs allocated to:
Teaching, research and residential 1,481 1,390
Public worship
Homage
Other direct costs allocated to:
Teaching,
research		 and residential 1,488 1,615
Public worship
Heritage
Support and governance
costs allocated to:
Teaching,
research		 and residsnual 1,098 1,238
Public worship
Heritage
Total charitable
expenditure		 4,067 4,243
Expenditure
on raising		 funds
Direct staff costs allocated to:
Fundraising 93 27
Trading
expenditure
Investment
management		 costs
Other direct costs allocated to:
Fundraismg
Trading expenditure
Investment
management		 costs
Support and governance costs allocated to:
Fundraising 20 25
Trading
expenditure
Investment
management		 costs
Total expenditure
on raising		 funds 122 61
Total expenditure 4,189 4,304
The teaching and research costs includ e College Contnbution
payable of20k (2019-20k).
2020 2019
Total Total
Included
within the resources expended		 above are: 6'000 E000
Impairment
charges
Stock recognised as an expense in the year
Operating
lease payments
Foreign exchange losses

Teaching
Generating and Public 2020
Funds Research lnorship Heritage Total
E'000 0000 E'000 E'000 8'000
Finanoal administration 26 330 356
Domestic admimstration
Human
resources		 (3) (3)
IT 158 158
Depreciation 595 595
Loss/(profit)
on fixed assets
Bank interest payable
Otherfinanoe
charges		 (90) (90)
Governance costs 100 108
26 1,098 1,124
Teaching
Generating and Public 2019
Fuiiiis Research Worship Heritage Total
C000 E'000 E'000 f000 9'000
Financial
administration		 378 410
Domesfic sdmmistration
Iiuman
resources		 4 4
IT 138 138
Depreciation 435 435
Loss/(pmrit)
on fixed assets
Bank interest payabie
Other finance charges 249 249
Governance
costs		 34 34
Financial and domestic administration, ITsnd human resources costs are attributed according to the estimated staff time spent on each actwity.
Depreciation costs and profit orloss on disposal offixed assets are attributed according lo the use made ofthe underly ng assets.
Interest and other finance charges are attributed according to the purpose of the related finanong.
Governance
costs are afiooated to the		 core operations ofthe College.
2020 2019
E'000 E.'000
Governance costs comprise:
Auditor's
remunerakon		 -audit services 17 13
Auditor's
remuneration		 - assurance services other than audit
Auditor's
remuneration		 -tax advisory services
Auditor's
remuneration		 -other services
Legal and other fees on constitutional matters 91 21
Other governance
costs
108 34

GRANTS AND AWARDS 2020 2019
000 2'000
During the year the College funded research awards and
bursaries
to students
from		 its restricted and
unrestricted
fund as follows:
Unrestricted
funds
Grants to individuals:
Scholarships,
prizes and grants		 9
Bursaries and hardship awards 16 26
Grants to other insfitutions
Total unrestricted 16
Restricted funds
Grants to individuals:
Scholarships,
prizes and grants		 173 169
Bursaries and hardship awards
Grants to other institutions
Total restricted 173 169
Total grants and awards 191 204

8 STAFF COSTS
2020 2019
The aggregate
staff costs for the year were as follows.		 Efilgg 0000
Salaries and wages 1,519 1.787
Social security costs 165 147
Pension costs:
Defined benefit schemes 141 103
Defined contribution schemes 45 41
Other benefits
1,870 2,078
The average number ofemployees ofthe Colege, excluding Trustees,
on a full time equivalent basis was as follows. 2020 2019
Tuition and research 2 1
College residential 23 23
Public worship 1 1
Heritage
Fundraising 2
Support 10 10
Total 38 35
The average
number of		 employed College Trustees during the year was as follows.
Universiiy
Lecturers
CUF Lecturers
Other teaching and research
Other
Total 15 13
The following
information		 relates to the employees ofthe College excluding the College Trustees Details ofthe remuneration and reimbursed expenses ofthe
College Trustees is included as a separate note in these finanaal statements.

TANGISLE FIXEO ASSETS TANGISLE FIXEO ASSETS
College Leasehold Freehold Plant and Fixtures,
land snd land and machinery fittings and
buildings buildings equipment Total
E'000 E'000 E000 P000 F.'000
Cost
At stelt ofyear 28,135 121 638 28,894
Additions 122 4 17 143
Oisposals
At end ofyear 28257 125 655 29037
Oeprecistion and impairment
Atstariofyear 2,473 100 404 2,977
Charge forthe year 511 11 73 696
On disposals
Impairment
At end ofyear 477 3 5'72
Net book value
At end ofyear 25,273 14 178 25,465
At start ofyear 25,662 21 234 25917

All investments
are held		 All investments
are held		 at fair value.
2020 2019
2'000 2'000
Group investments
Valuation at start of year 14,786 14.133
New money invested 2
Amounts
withdrawn		 (3) (9)
Reinvested
mcome
Investment
management		 fees
(Decrease)/increase in value ofmvestments (412) 660
College investments at end ofyear 14,371 14,788
College Investments comprise: Held outside Held in 2020 Held outside Held in 2019
the UK the UK Tote I the UK the UK 1otal
POOO 2'000 2'000 F.'000 2'000 r.'000
Equity investments 12,411 12,411 12,120 12,120
Global multi-asset
funds
Property funds 141 141 141 141
Fixed interest stocks
Alternative
and other investments
Fixed term deposits and cash 1,819 1,819 2,525 2,525
Total group investments 14,371 14,371 14,786 14,786

DEBTORS
2020 2019
College College
0'000 E000
Amounts
falling due		 within one year:
Trade debtors 92
Amounts
owed by College members		 3
Amounts
owed by Group undertakmgs
Loans repayable
wnhin one year
Prepayments and accrued income 30 101
Other debtors 434 294
Amounts
falling due		 sitar more than one year:
Loans
400 490
CREDITORS: falling due within ona year
2020 2019
College College
0'000 E'000
Bank overdrafts
Bank loans
Obligations
under finance leases
Trade creditors 167
Amounts
owed to College Members
Amounts
owed to Group undertakmgs
Taxation and social security 00 53
College contribution
Accrusls and deferred income 27 99
Other creditors 494 656
019 997
CREDITORS: falling due aner more than one year
2020 2019
College College
0'000 E000
Bankloans
Obligations
under finance leases
Other creditors 270 270
270 270
PROVISIONS FOR LIABILITIES AND CHARGES
2020 2019
College College
2'000 0000

15 ANALYSIS OF MOVEMENTS ANALYSIS OF MOVEMENTS ON FUNDS
At 1 August Incoming Resources Gains/ At 31July
2019 resources expended Transfers (losses) 2020
C000 C000 D000 E'000 C000 C000
Endowment
Funds		 - Permanent
College Endowment Fund 8,651 (220) 8,430
Edward
Robert Hamilton
INills		 Endowment 5,894 (201) 5,693
Gutifer Fellowship 2 (2)
Endowment
Funds		 - Expendable
Scholarship
Funds		 239
Total Endowment Funds - College 14,766
Endowment
funds hald by subsidianes
Total Endowment Funds - Group i4,755
Restricted Funds
~evelopmsnt
Funds		 23,604 195 (502) 23,297
Scholarship
Funds		 523 85 (I72) 436
Farmington
Institute		 Fund 384 303 (594) 86
Distinguished
Careers Institute		 Fund 83 83
INetbeing
Research		 Centre 379 85 (146) 318
Development
office		 122 (69) 53
Gu0ifer FsBowship 27 (12) 17
Total Restricted
Funds - College		 24973 24 290
Restncted funds held by subsidiaries
Total Restricted Funds - Group 24973 24,290
Unrestricted
Funds
~evelopment
Funds		 1,689 (10) 1,679
Fixed asset designated
Fund
Designated
Revenue
Funds		 97 (97)
Generalfunds 504 2,501 (2,774) 104 335
Revaluation
reserve
Perision reserve (465) 91 (374)
Total Unrestricted Funds - College I 825 I 640
Llnrestncted
funds held by subsidiaries
Total Unrestricted Funds - Group 1,825
TotalFunds 41,584 3318 (4189) (412) 40 301

1he following 1he following 1he following is a summary is a summary is a summary is a summary ofthe origms ofthe origms and purposes ofeach ofthe Funds
Endowment Funds - Permanent:
College Endowment Fund A consolidation
of giffs and donations
where capital and		 income, or only the income,
can be used for the general
purposes
ofthe charity. Part		 ofthese funds may
have been designated
for a particular
purpose
by the Governing
Body.
Edward
Robert Hamilton		 INills Endowment A specific donation
to be used to enhance
the permanent		 endowment
ofthe		 College where
the mcome can be used for the general
purposes
ofthe charity
Gu5ifer Fetowshlp A consolidation
ofgifts and donations
where the income		 is to be used to support
a College fellowship
in law.
Endowment Funds - Expendable:
Scholarship Funds A bequest where the use ofthe income is for a specific purpose so designated
by the donor and which can only be used for that purpose or activity
Restricted Funds:
Development Fund A consolidation
ol gifts and donations
where
both income		 and capital can be
used for acquisition,
replacement
and maintenance
ofthe		 College functional buildings.
Scholarship Funds A consolidation
of gifts and donations
where
both mcome		 and capital can be
used for student
scholarships
Farming ton Institute Fund Restncted
funds include income of2303,000 given as a grant
by the Farmington		 Trust
to support the chantable
activities ofthe Farmington
Institute. 1he charitable		 activities
ofthe Institute
were transferred
to Hams Manchester
College on I August 2015,		 the
Farmington
Trust having
determined
that its charitable
oblects would be best
achieved
through
such a transfer.
Distinguished Careers Institute Fund A fund
to provide a term-long
programme
for mid-and
tate - term professionals
who want structured
time to think about 'what next'
Wetbeing Research Cenire The INe6being
Research Centre is a hub for researchers		 addressing
the issues of human
wetbeing
and conducting
research
m different tieids such		 as economics, behavioural seance,
psychology,
philosophy
and the environment.
The Centre		 also hosts regular research seminars,
social events and will be organising
future academic talks		 and conferences.
Development office A grant from the College Contributions
Fund to fund the creation ofa Development		 Office'
Gugifer Fellowship A consolidation
of gifts and donations
where the income		 is to be used to support
a College fellowship
in law.
Designated Funds
Fixed asset designated Unrestricted
Funds which are represented
by the fixed assets of the Cotege
and therefore
not available
for expenditure
on the Cogege's general
purposes.
The Trustees
have transferred
the balance
on this fund into general college
reserves as it is no longer considered
necessary
to show		 separately.
Designated Revenue Funds Designated
Revenue
Funds represent
monies ring-fenced		 for speafic purposes by Governing
Body
Development Fund Unrestricted
Funds allocated
by the Fegows for future costs of
replacement
snd maintenance
ofthe College functional
buildings
The General Unrestricted Funds represent accumulated mcome from the Co6ege's activities and other sources that are available
for the		 general purposes ofthe
College

2020 2019
Gains I Gains/
Income Expense (losses) Income Expense (losses)
M000 M000 Mggg E'000 E000 E'000
Financial assets measured at fair value through profit or (412) 660
loss
Financial
liabilities measured		 at fair value through profit
oi' loss
Financial assets measured at amortised cost
Financial
liabilities measured		 at amortised cost
RECONCILIATION
OF NET		 INCOMING RESOURCES TO
NET CASH FLOW FROIS OPERATIONS
2020 2019
2'000 E'000
Net income/(expenditure) (1,203) 546
Elimination
ofnon-operating		 cash 6ows
Investment
income		 (463) (508)
(Gains)/losses
in investments		 412 (660)
Endowment
donations		 (2)
Depreciation 595 435
(Surplus)/loss
on sale offixed assets
Decrease/(Increase)
in stock		 9
Decrease/(increase)
in debtors		 10 34
(Decrease)/Increase
in creditors		 (377) 53
(Decrease)/Increase
m provisions
(Decrease)/Increase
m pension scheme		 liability (91) 250
Net cash provided
by (used		 in) operating activities 148
ANALYSIS OF CHANGES
IN NET DEBT		 Other non
At 01I08/19 Cashflows cash At 31IOTI20
changes
Cash and cash equivalents
Cash at bank and in hand 2,114 -866 1,248
ANALYSIS OF CASH AND CASH EQUIVALENTS
2020 2019
8'000 E'000
Cash at bank and
in hand		 1,248 2,114
Notice deposits (less than 3 months)
Bank overdrafts
Total cash and cash equivalents 1,248 2,114

At 31 July the College had annual At 31 July the College had annual commitments under non-csncefiable operating leases as follows. 2020 2019
2'000 E000
Land and buildings
expiring within one year
expiring between
two and five yeso
expinng m over five years
expiring withm one year
expiring between
two and five years
expiring in over five years

2020 2019
Bgfig r.'000
Dr J Hordem 66 66
Dr A Alvergne 75 75
141 141