#
##
##
||||(2)|(3)|(4)|
|---|---|---|---|---|---|
|Mrs Kate Alderson-Smith||Joined wef 16June 2021||||
|Dr Alexandra
Alvergne||Retired wef 30 September 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||Retired wef 4 December 2020||||
|Ms Victoria
Lill||||||
|Professor William
Mander||||||
|Professor Diane Mayer||Retired wef 16June 2021||||
|Dr Ross McAdam||||||
|Professor Kate McLoughlin||||||
|Professor Alister McGrath||||||
|Professor Alex Nicholls||||||
|Professor Patrik Rorsman||||||
|Professor Ronald Roy||||x|x|
|Dr Isabel Ruiz||||||
|Professor Jane Shaw||||||
##
##
|Professor Lesley Smith||
|---|---|
|Dr Harrison
Steel|Joined wef 1 October 2020|
|Dr Kristin van Zwieten||
|Dr John Vella||
|Mr Ashley
Walters|Joined wef 6 October 2021|
##
|COLLEGE SENIOR STAFF|COLLEGE SENIOR STAFF|||||
|---|---|---|---|---|---|
|The senior staff ofthe College to whom day to day management||is delegated||are as|follows.|
|Principal|Jane Shaw|||||
|Bursar|Peter Hyde|||||
|Senior Tutor|Lesiey Smith|||||
|Academic Administrator|Victoria
Lill, Ashley Walters
2021)||(maternity||cover until 16July|
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|||||Unrestricted|Restncted|Endowed|2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Total|Total|
||||Notes|f.'000|E000|E000|6'000|E000|
|INCOME AND ENDOWMENTS||FROM:|||||||
|Charitable
activities:|||||||||
|Teaching, research and residential||||1,717|||1,717|1,742|
|Public worship|||||||||
|Heritage|||||||||
|Other Trading Income||||4|||4|2|
|Donations and legacies||||954|1.348||2,302|929|
|Investments|||||||||
|Investment
income||||594|||601|463|
|Total return
allocated|to income||||||||
|Other income||||228|||228|182|
|Total income||||3,497|1,348|7|4,852|3,318|
|EXPENDITURE ON:|||||||||
|Charitable
activities:|||||||||
|Teaching,
research and residential||||2,836|1,389||4,225|4,067|
|Public worship|||||||||
|Heritage|||||||||
|Generating
funds:|||||||||
|Fundraising||||60|115||175|116|
|Trading
expendiWre|||||||||
|Investment
management||costs|||||||
|Total Expenditure||||2,905|1,504||4,409|4,189|
|Net Income/(Expendltum)|before gains|||692|(156)|7|443|(871)|
|Net gains/(losses)
on investments|||10|||2,358|2,358|(412)|
|Net Incomei(Expenditure)||||592|(156)|2,365|2,801|(1,283)|
|Transfem
between funds|||15|(13)|13||||
|Other recognised
gains(losses|||||||||
|Gains/(losses)
on revaluation||offixed assets|||||||
|Actuarial
gains/(losses)|on defined benefit pension schemes||||||||
|Net movement
in funds for the year||||579|(143)|2,365|2,801|(1,283)|
|Fund balances
brought
forward|||15|1,640|24,290|14,371|40,301|41,584|
|Funds carried forward
at|31July|||2,219|24,147|10,736|43,102|40 301|
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||College|College|
|||||Notes|2'000|B000|
|FIXEDASSETS|||||||
|Tangible assets||||9|24,883|25,465|
|Heritage assets||||10|||
|Property
investments||||10|||
|Other Investments||||10|16,736|14,371|
|Total Fixed Assets|||||41,619|39,836|
|CURRENT ASSETS|||||||
|Stool(s|||||11||
|Debtors|||||703|460|
|Investments|||||||
|Cash at bank and|in|hand|||2,212|1,248|
|Total Current Assets|||||2,926|1,728|
|LIABILITIES|||||||
|Creditors: Amounts||falling due within one year||12|825|619|
|NET CURRENT ASSETS/(LIABILITIES)|||||2,101|1,109|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||||43,720|40,945|
|CREDITORS: falling|due||after more than one year|13|270|270|
|Provisions
for liabigtles|||and charges||||
|NET ASSETSI(LIABILITIES) BEFORE PENSION ASSET OR|||||||
|LIABILITY|||||43,450|40,675|
|Defined benefit pension|||scheme aabllity|19|348|374|
|TOTAL NET ASSETSI(LIABILITIES)|||||43,102|40,301|
|FUNDS OF THE COLLEGE||||15|||
|Endowmentfunds|||||16,736|14,371|
|Restricted funds|||||24,147|24,290|
|Unrestricted
funds|||||||
|Designated
funds|||||1,669|1,679|
|General funds|||||898|335|
|Revaluation
reserve|||||||
|Pension reserve|||||(348)|(374)|
||||||43,102|40,301|
##
||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Notes|6'000|C000|
|Net cash provided
by (used|In) operating||activities|||22|378|(1,189)|
|Cash flows from investing|activities||||||||
|Dividends,
interest and rents from investments|||||||601|483|
|Proceeds from the sale ofproperty,||plant and equipment|||||||
|Purchase of property,
plant and equipment|||||||(8)|(143)|
|Proceeds from sale of investments|||||||(82)|753|
|Purchase ofinvestments|||||||76|(750)|
|Net cash provided
by (used|in) investing||activities||||586|323|
|Cash flows from financing|activities||||||||
|Repayments
of borrowing|||||||||
|Cash inflows from new borrowing|||||||||
|Receipt ofendowment|||||||||
|Net cash provided
by (used|in) financing||activities||||||
|Change
In cash and cash equivalents||in the||reporting|period||964|(886)|
|Cash and cash equivalents|at the beginning|||ofthe|||||
|reporting
period|||||||1,248|2,114|
|Change
in cash and cash equivalents||due to||exchange|||||
|rate movements|||||||||
|Cash and cash equivalents|atthe end ofthe|||reporting|||||
|period||||||24|2,212|1,248|
##
|||2021|2020|
|---|---|---|---|
|Teaching, Research and|Residential|B000|E000|
|Unrestricted
funds||||
|1uition fees —UK and EU students||483|403|
|Tuition fees - Overseas|students|699|572|
|Other fees||80|110|
|Other HEFCE support||13||
|Other academic income||58||
|College residential
income||404|857|
|||1,'717|1,742|
|Restncled
funds||||
|Tuihon fees - UK and EU students||||
|Tuition fees - Overseas|students|||
|Other fees||||
|Other HEFCE support||||
|Other academic mcome||||
|College residential
income||||
|Endowed
funds||||
|Tuition fees - UK and EU students||||
|Tuition fees - Overseas|students|||
|Otherfees||||
|Other HEFCE support||||
|Other academe
income||||
|College residential
income||||
|Total Teaching, Research|snd Residential|1,717|1,742|
|Total Teaching, Research|Total Teaching, Research|snd Residential|
|---|---|---|
|Pubac worship|||
|Unrestricted
funds|||
|Choir school fees|||
|Other|||
|Restncted
funds|||
|Choir school fees|||
|Other|||
|Endowed
funds|||
|Choir school fees|||
|Other|||
|Total Public worship|||
|Heritage|||
|Unrestriicted
funds|||
|Hentage
Income|||
|Other charitable|income||
|Restncted
funds|||
|Hentage
Income|||
|Other chsntable|income||
|Endowed
funds|||
|Heritage
Income|||
|Other chantable|income||
##
|DONATIONS
AND|LEGACI|ES|||
|---|---|---|---|---|
||||2021|2020|
||||6'000|L"000|
|Donations
and Legacies|||||
|Unrestncted
funds|||964|112|
|Restricted
funds|||1,346|617|
|Endowed
funds|||||
||||2,302|929|
|INCOME FROM OTHER TRADING ACTIVITIES|||||
||||2021|2020|
||||6'000|L"000|
|Subsidiary
company|trading|income|||
|Other trading
income|||||
|INVESTMENT INCOME|||||
||||2021|2020|
||||6'000|D000|
|Unrestncted
funds|||||
|Agricultural
rent|||||
|Commeroal
rent|||12|12|
|Other property
income|||13|13|
|Equity dividends|||561!|429|
|Income from fixed|interest|stocks|||
|Interest on lixed term deposits and cash|||||
|Other investment|mcome||||
|Bank interest|||||
|Other' interest|||||
||||694||
|Subsidiary
company|trading|income|
|---|---|---|
|Other trading
income|||
|Unrestncted
funds|||
|---|---|---|
|Agricultural
rent|||
|Commeroal
rent|||
|Other property
income|||
|Equity dividends|||
|Income from fixed|interest|stocks|
|Interest on lixed term deposits and cash|||
|Other investment|mcome||
|Bank interest|||
|Other' interest|||
##
##
##
|6|ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE|||
|---|---|---|---|---|
||||2021|2020|
||||6'000|0000|
||Charitable
expenditure||||
||Direct staff costs allocated to:||||
||Teaching,
research and residential||1,769|1,481|
||Public worship||||
||Hentage||||
||Other direct costs allocated|to|||
||Teaching, research and residential||I 264|1,488|
||Public worship||||
||Heritsge||||
||Support and governance
costs allocated to||||
||Teaching, research and residential||1,192|1,098|
||Public worship||||
||I-leritage||||
||Total charitable
expenditure||4,225|4,067|
||Expenditure
on raising funda||||
||Direct staff costs allocated to:||||
||Fundi8ising||142|93|
||Trading expenditure||||
||investment
management|costs|||
||Other direct costs allocated|to|||
||Fundraismg||||
||Trading expenditure||||
||Investment
management|costs|||
||Support and governance
costs allocated to||||
||Fundraising||26|20|
||Trading expenditure||||
||Investmsnt
management|costs|||
||Total expenditure
on raising|funds|184|122|
||Total expenditure||4,409|4 189|
|The teaching snd research costs|includ|e college contnbution
payable ofF0k (2020-rck).|||
|---|---|---|---|---|
||||2021|2020|
||||Total|Total|
|Included
withm the resources expended||above are:|6'000|f000|
|Impairment
charges|||||
|Stock recognised as an expense|in the|year|||
|Operagng
lease payments|||||
|Foreign exchange losses|||||
##
##
||||Teaching||||
|---|---|---|---|---|---|---|
|||Generating|arid|Public||2021|
|||Funds|Reseamh|Worship|Hentage|Total|
|||D000|E'000|E'000|E'000|2'000|
|Finance
l administration||35|394|||429|
|Domestic admini stration|||||||
|Human
resources|||1|||I|
|n|||143|||143|
|Deprecation|||589|||589|
|Loss/(profit)|on fixed assets||||||
|Bank interest payable|||||||
|Other finance charges|||(28)|||(28)|
|Governance|costs||93|||93|
|||36|1,192|||1,227|
||||Teaching||||
|||Generating|and|Public||2020|
|||Funds|Research|Worship|Hentage|Tots I|
|||E'000|E'000|E000|E000|E'000|
|Finanaal
admimstration||26|330|||356|
|Domestic administration|||||||
|Human
resources|||(3)|||(3)|
|IT|||158|||158|
|Depredation|||595|||595|
|Loss/(profit)|on fixed assets||||||
|Bank interest|payable||||||
|Other finance charges|||(90)|||(80)|
|Governance|costs||108|||108|
|||||2021|2020|
|---|---|---|---|---|---|
|||||E'000|E'000|
|Governance coals comprise:||||||
|Auditor's|remuneraion|- audit senrices||17|17|
|Auditor's|remuneration|-assurance|services other than audit|||
|Auditor's|remuneration|-tax sdwsory|sennces|||
|Auditors|remunerabon|-other services||||
|Legal and|other fees|on constitutional|matters|76|91|
|Other governance
costs||||||
|||||93|108|
||||||
|---|---|---|---|---|
|GRANTS AND AWARDS|||2021|2020|
||||Deco|E000|
|During the year the College funded research awards snd|||||
|bursaries to students
from|its restncted|and|||
|unrestncted
fund as follows:|||||
|Unrestricted
funds|||||
|Grants to individuals.|||||
|Scholarships,
prizes snd grants|||||
|Burssnes snd hardship|awards||15|18|
|Grants to other institutions|||||
|Total unrestricted|||15|18|
|Restricted funds|||||
|Grants to mdividuals:|||||
|Scholamhips,
pnzes and grants|||170|173|
|Bursaries and hardship|awards||||
|Grants to otherinstitutions|||||
|Total nlsti'icted|||170|173|
|Total grants and awards|||155|191|
##
|8|STAFF COSTS|||||
|---|---|---|---|---|---|
|||||2021|2020|
||The aggregate
staff costs for the year were ss fo0owa|||E'000|U000|
||Salaries and wages|||1,928|1 519|
||Socisl secuflty costs|||177|185|
||Pension costs.|||||
||Defined benefit schemes|||155|141|
||Defined contribution|schemes||60|45|
||Other benefits|||||
|||||2,320|1,870|
||The average
number of|employees|ofthe College, excluding Irustees,|||
||on a full time equivalent|basis was|ss follows|2021|2020|
||Tuibon and research|||3|2|
||College residential|||22|23|
||Public worship|||1|1|
||Heritage|||||
||Fundraismg|||2|2|
||Support|||12|10|
||Total|||39|38|
||The average number of|employed|College Trustees dunng the year was as follows.|||
||Unwersity
Lecturers|||||
||CUF Lsctufers|||||
||Other teaching
snd resesmh|||||
||Other|||||
||Iotal|||20|15|
##
##
|College|||Leasehold|Freehold|Plant and|Fixtures,||
|---|---|---|---|---|---|---|---|
||||land and|land and|machinery|fittings snd||
||||buildings
Eooo|buildings
Eooo|f000|equipment
r.'000|Total
5'000|
|Cost||||||||
|At start cf)mer||||28,257|125|655|29,037|
|Additions|||||'I|7|8|
|Disposals||||||||
|At end ofyear||||28 257|126|662|29,045|
|Depreaiation|and impairment|||||||
|At start ofyear||||2,984|111|477|3,572|
|Charge for the|year|||512|8|70|690|
|On disposals||||||||
|Impairment||||||||
|At end ofyear||||3496|119|||
|Net book value||||||||
|At end ofyear||||24,761||115|24,883|
|At start ofyear||||25,273|14|179|2S,46S|
|The above includes||||||||
|Fck (2020 rnk) ofplant and machinery||held under finance leases.||||||
|tok (202090k) offixures and fiuings||held under finance leases.||||||
##
|All mvestments
are|held|at fair value|||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||EOOO|EOOO|
|Group investments|||||||||
|Valuation at start of|year||||||14,371|14,765|
|New moneyinvested|||||||||
|Amounts
withdrawn||||||||(3)|
|Reinvented
income|||||||||
|Investment
management||fees|||||||
|(Decrease)/increase|in value of irivestments||||||2,366|(412)|
|College investmenls|at|end ofyear|||||16,736|14,371|
|College investmenls|comprise:||Held outside|Held in|2021|Held outside|Held in|2020|
||||the UK|the UK|Total|the UK|the UK|Total|
||||r.'000|O000|COOO|E000|EOOO|EOOO|
|Equity investments||||16,020|16,020||12411|12,411|
|Global multi-asset
funds|||||||||
|Propertyfunds||||141|141||141|141|
|Fixed interest stocks|||||||||
|Alternative
and other|investments||||||||
|Fixed term depoats|and|cash||575|5'76||1,619|1,819|
|Total gmup investments||||15736|16,736||14,371|14,371|
##
|DEBTORS|||||
|---|---|---|---|---|
||||2021|2020|
||||College|College|
||||2'000|CDDD|
|Amounts
falling due||within one year:|||
|Trade debtors|||36||
|Amounts
owed by College members|||I||
|Amounts
owed by Group undertakings|||||
|Loans repayable
withm one year|||||
|Prepeyments|and accrued income||66|36|
|Other debtors|||696|434|
|Amounts
faalng due||after more than one year:|||
|Loans|||||
||||703|480|
|CREDITORS:|falling due within one year||||
||||2021|2020|
||||College|College|
||||2'000|BDDD|
|Bank overdrsfts|||||
|Bank loans|||||
|Obligations
under finance leases|||||
|Trade creditors|||32||
|Amounts
owed|to College Members||||
|Amounts
owed|to Group undertakings||||
|Taxation and social secunty|||49|52|
|Cot ega contnbution|||||
|Accruals and deferred||inoome|152|27|
|Other creditors|||592|492|
||||825||
|CREDITORS:|falling due after more than one year||||
||||2021|2020|
||||College|College|
||||ODDD|k'000|
|Bank loans|||||
|Obligations
under firiance leases|||||
|Other creditors|||270|270|
||||270|270|
|PROVISIONS FOR LIABILITIES ANO CHARGES|||||
||||2021|2020|
||||College|College|
||||2'000|BDDD|
##
|15|ANALYSIS OF MOVEMENTS|ANALYSIS OF MOVEMENTS|ANALYSIS OF MOVEMENTS|ON FUNDS|||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||At 1 August|Iri coming|Resources||Gainer|At 31July|
||||||2020|resources|expended|TransFers|(losses)|2021|
||||||000|OOOO|6'000|0000|6'000|r.'000|
||Endowment
Funds|- Permanent|||||||||
||College Endowment|Fund|||8,430||||1,347|9,784|
||Edwanl
Robert Nsmrlmn||Wills|Endowment|5,893||||978|6,671|
||GuBifer Fellowship||||||||||
||Endowment
Funds|- Expendable|||||||||
||Scholarship
Funds||||248||||33||
||Total Endowment|Funds - College|||14371||||2,358|16,736|
||Endowment
funds held||by subsidiaries||||||||
||Total Endowment|Funds - Group|||14371||||||
||Restncted Funds||||||||||
||Development
Funds||||23297||(501)|||22,796|
||Scholarship
Funds||||436|97|(185)|10||368|
||Farmington
Institute|Fund|||88|548|(462)|(1)||189|
||Distinguished
Careers institute|||Fund|83|||||83|
||We0being Research|Centre|||318|578|(241)|||653|
||Development
once||||53|128|(115)|||64|
||Gulifer Fellowship||||17|3|||||
||Total Restricted
Funds||- College||24290|||13|||
||Restricted
funds
held by||subsidiaries||||||||
||Total Restricted Funds||- Group||24290|||13|||
||Unrestricted
Funds||||||||||
||Development
Funds||||1,679||(10)|||1,669|
||Fixed asset designated||Fund||||||||
||Designated
Revenue
Funds||||||||||
||General funds||||335|3,497|(2,921)|(13)||898|
||Revaluation
reserve||||||||||
||Pension reserve||||(374)|||||(348)|
||Total Unrestricted|Funds - College|||1 840|3497|(2905)|(I3)||2219|
||Unrestricted
funds held||by subsidiaries||||||||
||Total Unrestricted|Funds - Group|||1,640|3,497|(2,905)|(13)||2,219|
||Total Funds||||40,301|4,852|(4,409)||2,358|43,102|
##
##
|The foOowing|The foOowing|The foOowing|is a summary|is a summary|is a summary|is a summary|of|the ongins|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,|||||
|||||||||||csn be used for the general purposes ofthe chanty. Pert|ofthese funds may||||||
|||||||||||have been designated
for a particular
purpose
by the Govermng
Body.|||||||
|Edward Robert Hamilton||||||Wills||Endowment||A specific donation
to be used to enhance the permanent|endowment
ofthe|Cogege|||where||
|||||||||||the income can be used for the general
purposes ofthe charity|||||||
|Gullifer Fellowship||||||||||A consolidation
ofgifls and donations
where the income|is to be used to support||||||
|||||||||||a College fellowship
m Isw|||||||
|Endowment|||Funds|- Expendable:|||||||||||||
|Scholarship|||Funds|||||||A bequest where the use ofthe income is foraspeefic purpose sodesignated|||||||
|||||||||||by the donor and which can only be used for that purpose|or activity||||||
|Restricted||Funds:|||||||||||||||
|Development|||Fund|||||||A consolidation
ofgifts and donabons
where both income|and capital can be||||||
|||||||||||used for acquisition,
replacement
snd msmtenance
ofthe|College functional|buildmgs.|||||
|Scholarship|||Funds|||||||A consolidation
ofgilts and donations
where both income|and capital can be||||||
|||||||||||used for student
scholarships|||||||
|Farminglon||Institute||Fund||||||Restncted
funds include income ofL'303,000 given ss a grant by the Fsrmmgton|||Trust||||
|||||||||||to support the ohantable
activities ofthe Fsrmington
insbtute. The charitable||activibes|||||
|||||||||||ofthe Institute were transferred
to Harris Manchester Cotege on 1 August 2015,the|||||||
|||||||||||Farmington
Trust having
determmed
that its chen table chisels would be best|||||||
|||||||||||achieved
through
such s transfer.|||||||
|Distinguished|||Careers||Institute|||Fund||A fund to provide a term-long
programme
for mid- and late - term professionals|||||||
|||||||||||who want structured
time to think about 'whet next'|||||||
|Wegbeing|Research|||Centre||||||The WeBbeing Research
Centre isa hub for researchers|addressing
the issues ofhuman||||||
|||||||||||weBbeing and conducting
research
in different fields such|ss economics, behavioural||||science||
|||||||||||psychology
philosophy
and the environment,
The Centre|also hosts regular research||||seminars,||
|||||||||||soaal events and will be organising
future academic talks|and conferences||||||
|Development|||oNce|||||||A grant from the College Contributions
Fund to fund the creation ofa Development||||Office'|||
|Gulhfer Fellowship||||||||||A consolidation
ofgifts and donations
where the income|is to be used to support||||||
|||||||||||a College fellowship
in law.|||||||
|Designated||Funds|||||||||||||||
|Fixed asset||designated||||||||Unrestncted
Funds which are represented
by the fixed assets ofthe College|||||||
|||||||||||and thetefore not available
for expenditure
on the Co0ege'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 specific purposes||by|Governing|||
|||||||||||Body|||||||
|Development|||Fund|||||||Unrestncted
Funds aBocsted by the Fellows for future costs of|||||||
|||||||||||replacement
and maintenance
ofthe CoBege functional
buildings|||||||
|The General|||Unrestncted|||Funds represent|||accumulated|income from the Co0ege's activities and other sources that|are available
for the|general|||purposes|ofthe|
##
|No trustee receives any remuneration|No trustee receives any remuneration|for acting as a trustee
However,|for acting as a trustee
However,|those|trustees|who are|also employees|also employees|ofthe College receive|satanas for their work|satanas for their work|as|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|employees.
Where possible these|satanas sre paid on external academic and||||academic-related|||scales and often are joint arrangements||wnh the University||of|
|Oxford.|||||||||||||
|The College hss s Remuneration|Committee||which makes recommendations||to the Governing||Body on psy snd||benefits which ere outside ofexternal scales. 1h||||
|composiion
ofthe Remuneration|Committee||is set out m page 24 ofthe financial statements
in|||||the section, Govemmg
Body, Officers||and Advisers.|||
|Remuneration
paid to trustees|||||||||||||
||||||2021||||2020||||
||||||Gross remuneration,|||taxable|Gross remuneration,||taxable||
||||Number of||benefits and pension||||Number of|benefits and pension|||
|Range|||Trustees/Feaows|||contnbutions|||Trustees/Feacws|contributions|||
|||||||E||||E|||
|Et,cccat,999||||||1,500|||||||
|E7,00047,999||||||15,240|||||||
|EQ,OOO-E9,999||||||9,703|||||||
|E10,000-E10,999||||||||||10315|||
|E11,000411,999||||||/ UDay||||22 914|||
|E12,000-E12,999||||||50,555||||38 182|||
|E23,000-E23,999||||||23,747|||||||
|E37,000-837,999||||||||||37,770|||
|E41,0DO-E41,999||||||41,459|||||||
|E44,000-844,999||||||44,695|||||||
|546,000-546,999||||||46 623||||46,904|||
|E49 ODO-E49,999|||||||||||||
|E51,000-E51,999||||||154,220||||102,578|||
|E'61,000-861,999|||||||||||||
|E84,000-E64 999||||||||||64,465|||
|F73,000-873,999||||||||||73,549|||
|E80,00D-E80,999||||||80,591||||80,868|||
|F82,000-882 999|||||||||||||
|E85,000-885,999||||||85,936||||85,601|||
|ESS,DOO-E88,999||||||||||88,752|||
|E89,000-E89,999||||||89,719|||||||
|5135,000 -E135,999||||||||||135,45I}|||
|E136000 —8136,999||||||136,«3|||||||
|Total|||20|||791,688||||787,354|||
##
##
##
||||||||||||||||USS||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Date|ofvaluation||||||||||||||31/03/2018||
|Date|ofvaluation||results||published||||||||||16/09/2019||
|Value|of liabilities||||||||||||||567.3bn||
|Value|ofassets||||||||||||||F63.7bn||
|Funding
Surplus/(Deficit)|||||||||||||||6(3.6)bn||
|Pnnapal
assumpaons|||||||||||||||||
||||||||||Discount|rate|||||||
||||||||||||||||CPI - 0.73%to||
||||||||||||||||CPI +2.52%pa||
||||||||||Rate ofincrease||in satanas||||n/a||
||||||||||Rate ofincrease||in pensions|||b|DPI||
|Mortality assumptions|||||||||||||||||
||||||||||Assumed|life expectancy at age 65 (males currently
aged 65)|||||24.6yrs||
||||||||||Assumed|life expectancy at age 65 (females currently aged 65)|||||26.1 )iis||
||||||||||Assumed|life expectancy at age 65 (males currently aged 45)|||||26.6yrs||
||||||||||Assumed|life expectancy at sge 65 (females currently aged 45)|||||27.9yrs||
|Funding
Rsbos|||||||||||||||||
||||||||||Technical|Provisions||basis|||95%||
||||||||||Statutoiy|Pension|Protection||Fund basis||76%||
||||||||||"Buy-out"|basis|||||56%||
||||||||||||||||21 1%||
||||||||||||||||increasing|to|
||||||||||||||||23.7'4 by||
|Employer's
contnbution|||||rate (as %of pensionable|||satanas):|||||||01/10/21||
|Effective date of||next valuabon:|||||||||||||31/03/2020||
|Notes|||||||||||||||||
|a.|1he discount||rate||(forward rates) for the USS valuation
was||||||||||||
|Years|1-10||||||||CPI + 014%reduang|||linearly to CPI —073%|||||
|Years|11-20||||||||CPI+ 2.52% reducing|||linearly to CPI+ 1 55% by year 21|||||
|Years|21 +.||||||||CPI + I 55%||||||||
|b Pensions increases||||(CPI) for the||USS valuation||were:|||||||||
|Term|dependent|rates||in line with||the difference||between|the Fixed|Interest|and|Index Ooked yield curves, less 1.3%p.a.|||||
|c The USS employer||||contnbution||rate mcludes|provisions||for the cost offuture|||accrual|ofdefined benefits, deficit contnbutions,|administrative||expenses and|
|defined contnbutions|||||||||||||||||
##
##
##
##
##
##
||||||||||2021|||2020||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Gains/|||Gsins
/|
|||||||||Income|Expense|Bosses)|Income|Expense|(losses)|
|||||||||EOOO|0000|2'000|0000|0000|F000|
|Financial assets measured|at||fair value through|||profit or||||2,358|||(412)|
|loss||||||||||||||
|Finsnosl
liabilities measured|||at fair value||through||profit|||||||
|ol' loss||||||||||||||
|Fmanosl assets measumd|at||amortised|cost||||||||||
|Finsndel
liabihties
measured||at amorlised|||cost|||||||||
|RECONCILIATION
OF NET||INCOMING||RESOURCES TO||||||||||
|NET CASH FLOW FROM OPERATIONS||||||||||||||
|||||||||||||2021|2020|
|||||||||||||2'000|5'000|
|Net Income/(expenditure)||||||||||||2,801|(1 283)|
|Elimmstion
of non-operating||cash Oows:||||||||||||
|Investment
Income||||||||||||(601)|(463)|
|(Gams)/losses
in investments||||||||||||(2,358)|412|
|Endowmentdonabons||||||||||||||
|Depreciation||||||||||||589|595|
|(Surplus)/loss
on sale offixed|||assets|||||||||||
|Decrease/(Increase)
in stock||||||||||||(11)|9|
|Decrease/gncresse)
In debtors||||||||||||(223)|10|
|(Decrease)/Increase
in creditors||||||||||||207|(377)|
|(Decrease)/Irlcresse
irl prov/s/ons||||||||||||||
|(Decrease)/Increase
in pension scheme||||liability||||||||(26)|(91)|
|Net cash provided
by (used|||in) operating||activities|||||||378|(1,189)|
|ANALYSIS OF CHANGES
IN|||NET DEBT|||||||||Other non||
|||||||||||At 01/08/20|Cashnows|cash|At 31/07/21|
|||||||||||||changes||
|Cash and cash equivalents||||||||||||||
|Cash at bank and m hend||||||||||1,248|964||2,212|
|ANALYSIS OF CASH AND CASH EQUIVALENTS||||||||||||||
|||||||||||||2021|2020|
|||||||||||||EOOO|0000|
|Cash at bank and in hand||||||||||||2,212|1,240|
|Notice deposits (less than 3|months)|||||||||||||
|~ank overdrafts||||||||||||||
|Total cash and cash equivalents||||||||||||2,212|1,248|
##
##
##
|25|FINANCIAL COMNSTMENTS|FINANCIAL COMNSTMENTS|||||||
|---|---|---|---|---|---|---|---|---|
||At 31 July the College had annual||commitments|under non-cancefiable|operating|leases as follows:|2021|2020|
||||||||8'000|2'000|
||Land and buildings||||||||
||expinng|within one year|||||||
||expiring|between
two and five years|||||||
||expiring|in over five years|||||||
||expinng|within one year|||||||
||expiring|between
two and five years|||||||
||expiring|in over five years|||||||
##
##
##
##