2021-07-31-accounts - The Dean And Chapter Of The Cathedral Church Of Christ In Oxford Of The Foundation Of King Henry Viii

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		Pages
Governing Body, Officers and Advisers
Report ofthe	Governing Body
Independent	Auditor's Report	r4-i6
Statement ofAccounting Policies
Consolidated	Statement ofFinancial Activities
Consolidated	and House Balance Sheets
Consolidated	Statement ofCash Floors
Notes to the	Financial Statements	25-Sr

					(t)	(a)	(S)
The Ve	Reverend Professor M.W. Per
Canons:
The Reverend Canon Professor		N.J.Biggar
The Reverend Canon Professor		S.R.I.Foot			~	~
The Reverend Canon Professor		G.D.Ward
Canon Professor C. Harrison
The Venerable J.P.M. Chaffe
The Reverend R.C.Peers
Students:
Professor	R.B.Rutherford
Professor	R.L.Judson
Professor	I.M.C.Watson					~	~
Professor	E.J.F.Sim son
Professor	S.D. Howison
Professor	M.J.Edwards
Professor	M.D. McCulloch
Professor	D. Obbink		(resi ned 6 Feb roar)
Professor	S.L. Rowland-Jones
Dr B.E.Jack
Professor	D.P.McDonald
Professor	S.Neubauer
Professor	B.Parkinson
Professor	E,M.C.Tandello-Coo	er	(retired	~o Se t coze)
Dr D.P.Moran
Professor	G.Wilkinson
Professor	R.L. Davies
Professor	SirJ.I.Bell
Professor	G.A.Johnson
Professor	J,G.E.Cross
Dr A.J.Clark
Dr B.W,	Youn
Professor	J.J.Davis
Professor	M.C.A Bose
Professor	J.Yee
Professor	A. Kuhn
MrJ.C.F.S.Lawrie					~	~
Professor	D.Aarts
Professor	S.J.Cra
Professor	R.Wade-Martins
Professor	J.K. Schear
Professor	E.G.W. Keene
Professor	S.C.Mortimer
Professor	K.McGex				~	~	~
Ms P.A. Linikres-Hartley
Mr K. Sternber
Ms L.Elder
Professor	S.Dadson
Professor	S.L.Newstead
Professor	K.C.Kin

Professor R. Barker
Professor S.Hiscock
Professor G. Hutchinson
Dr K.Lebow
Professor A. Kuo
Professor SirT, Berners-Lee
Professor A. Vasudevan
Professor P. Sedlacek		(resigned		z Se t zozr)
Mr M. Coote		(resi	ned	~o A	ril zozr)
Professor Y. Gal
DrJAllison		(resi	ned	t Oct	zozt)
Dr S Duncan
Professor S Grahl
Professor M Holwe
Professor C Kennefick
Professor YNakatsukasa
Dr LBrassart
Dr ESmith
Professor N. R.Mean	o	(a	ointed t Se t zozz)
Dr F.Giusti		(a	ointed t Oct zozt)

Risk										Measures
	Pandemic									Effective implementation			ofgovernment			policies;	support		For
										research into effective treatment				and vaccination.			Insurance
										(where possible)
	Recruitment		of	staff	(academic			and	non-	Terms and	conditions of		service reviewed			regularly
	academic)
	Reputational		risk	from		lapses	in	academic		Monitor admissions		procedures,		student		satisfaction		and
	standards									exam results
	IT network	and data security								IT managed	jointly	with	Pembroke BcSt Peter's College.
										Investment	in eo	le and	hardware/software
	Disaster									Recovery planning		procedures		reviewed	regularly,		liaison
										with emer	en services
6.	Decline	in	purchasing			power		of	the	Diversified	portfolio and		close	oversight		from the	Investment
	endowment									Grou

						Unrestricted	Restricted	Endowed	2,02I	2.02,0
						Funds	Funds	Funds	Total	Total
					Notes	5'000	5'000	f'000	k'000	f.'OOO
INCOME AND ENDOWMENTS			FROM:
Charitable activities:
Teaching, research and residential						6439			6,439	8,564
Cathedral School						2&QI4			2,)OI4	»374
Cathedral						48	I04.		I63	338
Other trading income						I82			ISz	I&075
Donations and legacies						II2	579	I 427	z,II8	2,5I7
Investments:
Investment income					4	84	27	I9,485	I9,596	2,0,079
Total return allocated	to	income			IS	IO,865	6,639	(I7 504)
Other income					5	I,9z8	I7		»945	I&I07
Total income						zI,672	7,366	3&4I9	3»457	36,054
EXPENDITURE ON:
Charitable activities:
Teaching, research and residential						I7 874	4&507		22,38I	23&I35
Other charitable activities							624		624	798
Cathedral School						z,46I			2,46I	2,796
Cathedral						2)ISI	z68		2&449	?.&004
Generating funds:
Fundraising						603			6o3	6z6
Trading expenditure						609			609	865
Endowment management		costs				I50		3 957	4&I07	2 993
Interest payable on loan notes								I&402	I)402,	I&?.44
Total expenditure						23&87S	5)399	5&359	34,636	34,46I
Net Income/(~enditure)	before gains					(z&zo6)	I)967	(i&940)	(z&I79)	»593
Net gains on investments					I2, & I3			88,380	88,38o	8 455
(Losses)/Gains on complex		financial		instruments	z6	I,53I			I153I	(I,z54)
Net Income						(675)	I&967	86,440	87&732	8,794
Transfers between funds					20	46z	(840)	378
Net movement in funds for	the year					(zi3)	I&I2,7	86)SI8	87,732	8&794
Fund balances brought forward					20	(»I07)	II&008	587,82I	596)722	587,9z8
Funds carried forward at 3IJuly						(x,320)	Iz&I35	674&639	684,454	596&722,

				2,02,I	202,0	202I	2020
			Notes	Group fooo	Group 5'ooo	The House 5'000	The House f.'ooo
FIXEDASSETS
Tangible assers			IO	I5)344	t7,48I	I5,338	I7&47I
Property investments			I2	304)9I8	248 &329	258)244	222,I67
Other invesuuenrs			I3	46I,zo4	395,996	506)398	4zo,8oj
Total Fixed Assets				78»466	66I 806	779&98o	66o,445
CURREAK ASSETS
Stocks				SI3		766	768
Debtors			I6	3)060	3,732	4,862	4&979
Cash at bank and in	hand			I5)2,I2,	I4 325	I4,936	i3,676
Total Current Assets				I9)085	IS,z8I	20,564	I9423
LIABILITIES
Creditors: amounts	falling due within	one year		6,669	6 939	6&574	6,746
NET CURRENT ASSETS				Iz,4I6	II&342.	I3&990	I2,677
TOTAL ASSETSLESS	CURRENT LIABILITIES			793,882	673,I48	793)970	673,rzz
CREDITORS: falling due after more than one year			t8	Io6,385	72,9I6	I06)385	72,)9I6
Provisions for liabilities	and charges		I9	52	7I	52	7I
NET ASSETSBEFOREPENSION LIABILITY				687445	600,26I	687,533	6OO,I35
Defmed benefit pension	scheme liability			2)99I	3 439	2&99I	3439
TOTAL NET ASSETS				684&454	596&722	684)542	596&696
FUNDS OFTHE COLLEGE			2,0
Endowment funds				674,639	587,8zr	674,639	587,82)
Restricted funds				Iz&I35	Ir,oo8	Iz&I35	ii,oo8
Unrestricted funds
Designated funds				»494	733	»494	733
General funds				»OI3	3,966	5)650	8,489
Revaluation reserve				4)549	4 549
Pension and loan swap reserve			20, 24	(9376)	(Ii 355)	(9,376)	(II 355)
				684&454	596,7zz	684,542	596,696

					2,02,I	2020
				Notes	5,'ooo	5'000
Net cash provided by' (used in) operating		activities		27	(IT6$0)	(I5 743)
Cash Rows kom investing activities
Dividends, interest and rents from	investments				I9,596	20,079
Cash inflows from new borrowing					35&ooo	15&000
Interest payable on loan notes					(I,4oz)	(»244)
Investment management costs					(4&I07)	(2&993)
Proceeds from the sale ofproperty,	plant and equipment				I&$33
Purchase ofproperty, plant and equipment					(93)	(922)
Proceeds from sale ofinvestments					I3&I90	rr,498
Purchase ofinvestments					(46,607)	(z8,690)
Net cash provided by (used in) investing		activities			I7&IIO	tz,738
Cash flows f'rom flnancing activities
Repayments ofborrowing
Receipt ofendowment					I&42,7	2,,030
Net cash provided by (used in) Rnancing		activities			I&427	2&030
Change in cash and cash equivalents	in the reporting		period		887	(9»)
Cash and cash equivalents at the beginning ofthe reporting period					I4&32$	t5&300
Cash and cash equivalents at the end	of	the reporting	period		I5&2I2	I4,325

INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES
																2.02.1		2020
Teaching, Research	and Residential															f,'ooo	f'000
Unrestricted funds
Tuition Fees - UK and EU studenrs																I 98$	1,8$9
Tuition fees - Overseas students																1,132			928
Other fees																			$3
Other Office I'or	Students	support														402			343
Other academic income																110			89
College residential Charitable visitor	income income												2 707 103 3 ~6, 39~8,						$33
Total Teaching, Research and Residential																6,439	8,$64
Unrestricted funds
Cadiedral School	income															2,014	2	374
Cathedral income																48
																6
A total off43k (Io19-Io:f94k) was received				in the year	From the Coronavirus		Job	Retention	Scheme by		rhe	Carhedral	School and	Cathedral.
Restricted funds
Cathedral income																4
																4
Endowed Funds
Cathedral income																			10
																			IO
																23I77	2		712
Total income From	charitable activities															8,6x6	11,276
The above analysis includes		f3,519kreceived		From Oxford University		from publicly		accounrable		funds under		the Collegiate Funding		Formula		Schctue	(Ior9-Io:
fl,nok).
Under the terms ofthe undergraduare			student support		package offered by Oxford			University	to	studenrs	from lower income households,				the	House's	share ofthe
Fees waived amounted	to fok (Ioi9-2o:fok). These are				not induded	in the fee income reported				above.
DONATIONS AND LEGACIES
																202I	2020
																f'000	oooo
Donations and Legacies
Unrestricted funds Restricted funds Endowed funds													112 579 ~4				110 377 2,030
																2,xx8	2,t17
INCOME FROM OTHER		TRADING ACTIVITIES
																2,02I	2020
																f,'ooo	f,'ooo
Unrestricted fisnsis
Subsidiary company	trading	income
																x82	1,075

INVESTMKNT INCOME	INVESTMKNT INCOME	INVESTMKNT INCOME
			202I	2020
			5'000	oooo
Unnstncted funds
Agricultural rent			78	66
Bank interest			5	56
Other interest			I	I
			84	123
Restricted fu nd
Other interest			27	23
Endesssedfu nds
Agricultural tent			652	703
Commercial rent			5,II9	4,8o4
Other property	income		' 775	2,046
Equity dividends			573	587
Other investment		income	u,366	II,793
			,48	I9 933
Total Investment	income		I98596	208079
OTHER INCOME
			202,I	2020
			4'000	Eooo
Unrestricred fu nds
Orher miscellaneous		income		I,09I
			I8928	1,09I
Restn'ctedfisnds
Other miscellaneous		income	17	I6
			17	I6

ANALYSIS OFEXPENDIT	URE
			202I	2020
			Eooo	Eooo
Charitable expenditure
Direct staff costs allocated	ro:
Teaching, research and	residenrial		8,r46	7,890
Orher direct costs allocated to:
Teaching, research and	residential		r»593	r2,,623
Other charitable activiries			624	798
Cathedral school Cathedral Support and governance costs allocated to: Teaching, research and residential Cathedral school Total charitable expenditure Expenditure on generating funds			»393 »449 2,,642 68 ~
Direct staff costs allocated	to:
Fundraising			375	393
Trading expenditure			328	350
Invesunent management	costs		84
Other direct casu allocated to:
Fundraising			r52	t54
Trading expenditure			2,00	433
Invesunent management	costs		3 724	2,72,7
Interest payable on notes			r,402	r,244
Support and governance costs allocated to:
Fundraising			76	79
Trading expenditure			8t	82
Invesunent management	costs		299	266
Total expenditure on generating		funds		5,728
Total expenditure			34,636	34,46r.

ANALYSIS	OF SUPPORT AND GOVERNANCE	COSTS
			Teaching	Public
		Generating	and	Worship,	Choir		ZOZI
		Funds f'000	Research f'000	Ik Choir	School Eooo	Heritage f'000	Total fooo
Financial administration		225	z58				483
Domestic administration		64	6z3				687
Human resources			40				40
IT		12.	3t6				328
Endowment	management	149					149
Depreciation		I	84o		68		909
I,oss/(profir)	on 6xed assets
Loan inreresr	payable	1,402	497				I&899
Other 6nance charges		5	19				2.4
Governaace	cosrs	0	49				49
		x,858	2,642		68		4,568
			Teaching	Public
		Generaring	and	Worship,	Choir		2020
		Funds	Research	5r Choir	School	Heritage	Total
		f'ooo	f'000		f'ooo	f'000	f'000
Financial adminisuarion		227	zo8				435
Domestic administration		59	579				638
Human resources			44				44
IT		12	351
Endowmem	managemenc	115					115
Depreciarioa		2	839				907
Loan interesc	payable	1,244	502				x,746
Other 6nance charges		12	49				6x
Governance	costs		50
		1&671	2,622		66	0	4&359

larerest a	nd orher	financ	e charges are amibuted according to the purpose ofthe related fi	nanciag.
				2021	2020
				f'ooo	f'000
Governance costs		comprisei
Auditor's	remunerarion		- audit services	47	43
Auditor's	remuneration		- other services
Other governance		cosrs
				49	50

GRANTS AND AW	ARDS
										202.1	2020
During the year the	House funded	academic	awards	and bursaries	to students	from its resmcted		and unrestricted	funds	fooo	f.'ooo
as follows:
Unrestricted funds
Granrs m individuals:
Schobrships, prizes and grants										x6x	97
Bursaries and financial assistance		awards									33
Total unrestricted										164	130
Restricted funds
Graars m individuals:
Scholarships, prizes and grants										398	294
Bursaries and financial assistance		awards								709	6z8
Total restricted										I&107	922
Total grants and	awards									I&271	1,052
Within the bursaries	and 6nancial assistance		awards	Figure above,	is the cosc to the House		ofthe	Oxford Bursary	Scheme. Undergraduate	students ofthe House
received ftork (zozo:fr14k). Some		ofthose	studenrs	also received	fee waivers	amouming	rofok	(zozo: fok).

STAFF COSTS
							202I	2020
The aggregate staff costs for the year		were as follows.					f'ooo	f'000
Salaries and wages
Social security costs							733	732
Pension costs:
Defined benefit	schemes						I)4II	r.,466
Pension deficit	liability movement	(note 24)					(448)	(994)
Redundancy cosrs
Other benefirs							833	829
							20,388	IO,OI2
Staff costs of5rr92k (Ior92o:fr I4rk) inc)uded			in total Cathedral	cosrs, which included		redundancy	paymems off 9k (20r920: anil), and fr 79ok (201920:
fr,999k) included	in total Cathedral	school cosrs	are not included	in the aggregare	payroll	costs shown	above.

The average number ofemployees	ofthe House,	excluding	Trustees, on a full time equivalent	202I	2020
Tuition and research				63	63
College residenrial				II0	123
Trading and visiror				26	20
Cathedral				I7	I7
Cathedral School				66	68
Fnndraising				3	4
Supporr				79	83
Tond				354	38o
The average number ofemployed	Trustees during	the year	was as follows:
University Lecturers				22	2,2
CUF Lecrurers				26	r6
Faculrv Lecmrers
Orher ~caching and research
Other					12,
Toral					36

f60,oor-f7o,ooo
f70,oor-f80,oor
f8o,oor-f90,00r
.frao, oor-f I3o,oor
The number of the above	employees	with retirement	benefits accruing was as follows:
In defined benefirs schemes					Io	Io
In defined comriburion schemes
The House's contriburions	to defined	comriburion	pension	schemes totalled

Group		Leasehold	Freehold
		land and	land and	Plant and
		buildings	buildings	machinery	Total
		2'000	8000	Eooo	f.'000
Cost
At stan ofyear		4'7	I5,838	S,z77	24&532
Addidons			3	89	92
Disposals			(I,3zo)	0	(1,320)
TIansler			0
At end ofyear				~38 66	~3.3
Depreciation	and impairment
Ar srart ofyear			4,lz8	2,923	7105r
Depreciarion charge for the year Depreciadon on disposals At end ofyear			6oo 309 909 0 ~&*8~~6
Net book value
At end ofpear		4r7	9&793	5&I34	r5&344
Ar. srart ofyear		4I7	II,7lo	5 354	I7848I
The House		Leasehold	Freehold
		land and	land and	Plant and
		buildings	buildings	machinery	Total
		F.'000	8000	8000	5'000
Cost
At srarr ofyear		4I7	I5,839	S,z5I	24,507
Additions			3	9I	94
Disposals Transfers At end ofyear		(1,32,0) 0 ~~4*		0 ~383	(r,320) 0 ~8
Depreciation	and impairlnent
At sntn ofymr			4,I30	2,906	7,o36
Charge For the	year		599	308	907
At end ofyear
Net book value
At end ofpear		4I7	9&793	5&rzS	I5,338
Ar stan ofyear		4I7	II,709	5 345	r7347I

Group						Residential	202,I	2020
				Agricultural	Commercial	and Orher	Total	Total
				f'000	f'000	f'000	f'ooo	f'000
Valuation	at start ofyear			98 994	II7,4II	3I924	248)329	I,I3,055
Additions	and improvements		at cost	3»074	2,970	0	42&t)44	z$,86r
Disposals				(z,968)	(4,045)		(7&t&23)	(I,963)
Revaluation gains/(losses)		in	the year	II,239	7,220	4 099	22)558	II,376
Valuation	at end ofyear			I4$339	123,556	36,023	304)9I8	248,329
The House						Residemial	202I	2020
				Agriculnual	Commercial	and Other	Total	Tonl
				f'000	f'000	f'000	f'ooo	f'ooo
Valuation	at start ofyear			yz,gz9	II7,4I4	3I 924	222,267	r87,z06
Additions	and improvements		at cost	I7,$63	2 970	0	20)533	25,548
Disposals				(z,968)	(4,045)		(7 023)	(I,963)
Revaluation	gains/(losses)	in	the year	II,2,39	7,2I9	*099	22&557	II,376
Valuation	at end ofyear			98,663	123,558	36,0z3	258,244	222,I67

All invesunents are	held	at fair value.	202.I	2020
			f,'ooo	f'000
Group investments
Valuation at snrr ofyear			395&996	405,623
New money invested			5)503	2,829
Amoums withdrawn			(34)798)	(79»)
Increase/(Decrease)	in cash held		28,622	(I,624)
Reinvested income				0
Investment management		fees	60	0
Increase/(decrease)	in value ofinvesunents		G5,8»	(2,9zr)
Group investments	at end ofyear		46I)204	395,996

OTHER~MENT	S CONTINUED					202I	2020
						6'000	f.'000
The House investments
Valuadon at start ofyear						395,996	405,623
New money invesred						5&503	2,829
Amounts wirhdravm						(34,798)	(79n)
(Decrease)/ increase in cash held						28,62I	(I,624)
Increase in value ofinvesnnenrs						65,822	(2,92I)
						46t,xo4	395,996
Investment in subsidiaries						45&294	24,8n
The House investments	at end ofyear					506,398	420,807
		Held outside	Held in	202I	Held outside	Held in	2020
Gtoup investments cotnprise:		the VK	the UK	Total	the UK	rhe UK	Toml
		oooo	6000	6ooo	6'000	8000	5'000
Equity invesnnents			290	290		247	247
Global muhi-asset funds			354,802	354,802		308,158	308,I58
Property funds			5»5I5	5I&525		56,2r4	56,224
Deferred consideration			5 400	5)4«t		Io,goo	Io,8oo
Fixed term deposits and	cash		49»97	49ix97		20 577	20 577
Total group investments		0	462,2o4	46I,204	0	395,996	395,996

		The House	Christ Church	Christ Church	Thomas
			(Evesham)	(Daventry)	Wolsey
			Limited	Limited	Property
		I,'000	8000	2'000	F000
Income		32,I96	3			33
Expenditure		(34298)	(2)	(4)		(Io)
Donation	to the House under gifr aid	0	0	0		0
Resuh for	rhe year	(2,IO2)		(4)		23
Total assers		783,044	I03	r,r85	25,o66
Total Iiabi1ities		(I00,252)	(5)	(4)	(r,o48)
Net funds	ar rhe end ofyear	682,792	98	r,r8r	24,0I8

	PARENT AND S	UBSI	DI		AR	Y U	N	DER	T	A	KINGS CON	TINU	ED
															Wick	Farming	Christ Church	Christ Church
															I.imited		Developmenrs	Oxford
																	Limited	Trading
																f'ooo	f.'ooo	Fooo
	Income															42		r83
	Expenditure															(66)		(256)
	Donarion m rhe House undec					gift	aid									0
	Result for rhe year															(24)	0	(73)
	Tocal assers															3,285		z64
	Tocal liabilicies															(I 03S)		(337)
	Ner funds ac rhe end ofyear															2,250		(73)
	For prior year compararives				see note			35c.
Is	STATEMENT OF INVESTMENT							TOTAL RETURN
	The Trustees have	adopted			a duly		authorised				policy ofcoral	return accounnng		for rhe House's	invesunent returns		with efi'ect from	r August zoar. The	invesunent
	return to be applied	as income				is calculated				as	3.25/a (zoza:	3.zsqo) (plus costs) ofthe average ofthe year-end values ofrhe relevam						investments in each	ofrhe
	preceding five years. The		preserved				(frozen)			value ofthe invested			endowmem	capital represents	irs open market value in zoot together with all subsequent
	endowmems valued	at dace			of	gili.
														Permanent		Endowmenc		Expendable	Total
															Unapplied			Endowment	Endowments
														Trust for		Total
														Investment		Return	Total
														f'000		f'000	f'000	oooo	f'000
	At the beginning ofthe		year:
	Gifi component of	the permanent					endowment							13,849			13,849		r3,849
	Unapplied coral return															10,367	10,367		10,367
	Expendable endowment																	563,605	S63,6oS
	Total Endowments													13,849		Io 367	24&216	563,605	SS7,821
	Movements in the	reporting				period:
	Gifi ofendowment	funds												385			385	1,042	»427
	Investment return:	total investment					income									815	815	r8,68r	19,496
	Invesrmenr rerum:	realised		and		unrealised			gains and losses							3,691	3,691	84,689	88,38o
	Less: Invesnnent management					casts										(224)	(224)	(5 135)	(5359)
	Ocher transfers															61	61	317
	Total													385		4 343	4,7z8	99594	104,322
	Unapplied toml rerum allocated to income								in		the reponing	period				(674)	(6&74)	(16,830)	(17So4)
	Expendable endowments		transferred					to income									0		0
																(674)	(674)	(16,83o)	(17So4)
	Net movements in	reporting				period								385		3,669	4&1154	82,764	86,818
	At end ofthe reporting		periocL
	Gifr component of	che permanent					endowment							14234			14»34		14»34
	Unapplied coral recurn															14,036	14,o36		14,036
	Expendable endowment																	646,369	646,369
	Total Endowments													14&234		14&036	28&27o	646,369	674,639
	For prior year compararives			see note 35d.
16	DEBTORS
																202.1	2.020	ZOZI	2020
																Group	Group	The House	The House
																f'ooo	f'oaa	f,'ooo	f.'ooo
	Amounts falling due wtthin				one year:
	Trade debtors															»555	1,6os	1,488	1,562,
	Amounts owed by House		members													114	65	114	65
	Amounts owed by Group		undertakings														0	531	1,215
	Taxation and social	security															26		17
	Prepayments and accrued		income													I,23I	1,251	I&231	1,251
	Other debtors															159	185		140
	Amounts falling due after			more than one year&
	Loans																	I&354	729
																3&060	3,132	4,862	4 979

CREDITORS& falling due within one year
	202I	2020	202.I	2020
	Group	Group	The House	The House
	f'ooo	f'000	f'ooo	f'ooo
Trade creditors	z,zx6	2,69z	2&094	2 597
Amounts owed to House Members	423	382	423	382
Amounts owed to Group undertakings	0	0	430	I6
Taxation and social security	272	192	258	I92
College Conrriburion		0	0
Accruals and deferred income	3&758	3,673		3 559
	6,669	6939	6&574	6,746
CREDITORS: falling due after more than one year
	202I	2020	202I	2020
	Group	Group	The House	The House
	f'ooo	f'ooo	f'oao	f'ooo
Notes payable	90,000	55,000	90&000	55,000
Bank loans	Ia,aoa	ho,aao	Ia&000	IO,OOO
Loan swap fair value	6,385	7,9I6	6,385	7,9I6
	xo6&3S5	72,&9I6	I06,385	72.,9I6

		2022	2020	202I	2020
		Group	Group	The House	The House
		f'ooo	f'000	f,'ooo	f'000
At stare ofyear			I05	7I	I05
Charged in the Scaremenr ofFinancial	Activities	(7)	(zo)	(7)	(zo)
Settled in the year		(xz)	(r4)	(xz)	('4)
At end ofyear		52	7I	52	7I

ANALYSIS OFMO~S ON FUNDS	ANALYSIS OFMO~S ON FUNDS
		Ar IAugust				Gains/	At 3xJuly
		2020	lncorue	Expenditure	Transfers	(losses)	20?I
		f'000	f'ooo	f'ooo	f'000	f'ooo	f'ooo
Endowment Funds - Pertnanent
Student Support Funds		8,731	513	(8r)	(247)	1,342	10,258
Academic Posts Funds		z5,4z8	684	(142)	(364)	2,340	r7,936
Library Funds		67		(z)	(2)	10	76
Endowment Funds - Expendable
Heyman-Moritz Benefaction		5»79'		(481)	(?,589)	7 927	60,396
Dr South (3/sths)		33 691	1,101	(3o3)	(z,ooo)	4990	38,479
Lee Benefaction		1»394	410	(rt3)	(373)	1,861	14&179
Mercury Fund (s/7rhs)		rz,so8	375	(103)	(34o)	r,698	12&938
Buildings Funds		5470	18r	(50)	(z64)	8zr	6,258
Gardens &:Grounds Funds		522	17	(s)	(16)	78	596
Sports Clubs Funds		27		0	(z)	4	3I
Libmry Funds		3,116	105	(z8)	(92)	468	3,569
Picture Gallery Funds		438	14	(4)	(r3)	65	500
Academic Posts Funds		28,967	I,os6	(265)	(777)	4 364	33&345
Student Support Funds		23,502,	1,062	(217)	(649)	3 570	27,268
Cathedral &Chorisrer	Support Funds	11,917	696	(ro7)	(316)	1,8o4	13&994
Benefices Funds Ocher Funds General Endowmenr Funds Total Endowment Funds		20,578 9 199 ~68 58-„82z	68z 321 ~8 20,92,3	(z87) (84) ~8, 8 8 (5 359)	(619) (59) (ry,zz6)	3,090 1,384 4 88,380	23&S44 ro,76x ~4i 674,639
Restrict«d Income Funds - Permanent Student Support Funds Library Funds Academic Posts Funds		170 6 ~8	I 0	(tso) 0	'75 2		196 8 436
Sub-total Restricted income (Permanent)		534	2	(423)	527		64o
Restricted Income Funds - Expendable
Heyman-Moritz Benefacnon		104		(1,542)	1,589		ISI
Dr South (3/Srhs)		1,7o8	21	(593)	1,000		z,x36
Lee Benefaction		252		(322)	373	0	303
Mercury Fund (5/7ths)		69		(lys)	340	0	34
Buildings		22		0	5		27
Gardens &Grounds Funds				(2)	2		0
Sporrs Clubs Funds				0
Library Funds		45		(68)	91
Picture Gallery Funds		r6		0	6		22
Academic Posts Funds		z,o8z	52,	(554)			1,254
Student Support Funds		1,328	76	(6oz)	637	0	I&440
Carhedral &Chorister	Support Funds	29		(321)	316
Benefices Funds		zo8		(31)	23		100
Orher Funds		4		(96)	168
Sub-total Restricted income (Expendable)		S,o38	153	(4,505)	5,225		5,911
Buildings Funds		4 325	33	(24)	34	0	4,368
Gardens &Grounds Funds		2	92	0	0		94
Sports Funds		20	5	0			2,5
l.ibrary Funds		137	16	(24)	(6)		12.3
Picture Gallery Funds Srudent Support Funds Carhedral &Chorister Support Funds Orher Funds		52 r87 411 8	0 251 104 ~6	(s) (73) (zss) (91)	0 (4) 0 23		47 36x 26o
Sub-total Restricted income funds		5,436		(472)		0	58577
Total Restricted Funds		zr,oo8	727	(5399)	5799	0	xz&135

ANALYSIS OF MO	VEME	NTS ON FUNDS CO	NTINUED
			At r August				Gams/	At 3IJuly
			2020	Income	Expendimre	Transfers	(losses)	202,I
			Eooo	Zona	Eooo	Eooo	2'000	L'aaa
Unrestricted Funds
Designated funds			733	78o	(224)	2,05		Ik494
General funds			8,48g	9 93I	(z3,8gz)	II,I22		5)650
Defined benefit pension scheme reserve			(3439)	0	448		0	(»99I)
Loan swap fair value	reserve		(7,926)		0		I,53I	(6385)
Total Unrestricted	Fumb	- The House	(2 U3)	I0,7II	(z3,668)	II,327	I 53I	(z,z3z)
Designared funds - subsidiaries			0	0	0
General Funds - subsidiaries			z6	g6	(zro)			(88)
Revaluation reserve	- subsidiaries				0			0
Total Unrestricted	Funds	- subsidiaries	z6	96	(zro)	0	0	(88)
Total Unrestricted	Funds	- Group		ro,8o7	(z3,878)	II,327	1,53I	(2,3zo)
Total Funds			596722	3»457	(34,636)	0	89 9II	684&454
For prior year comparatives		see note 35 e.

		Unrestricted	Resmcted	Endowment	2021
		Funds	Funds	Funds	Total
		Fooo	oooo	f.'ooa	f,'000
Tangible	fixed assets	11,175	4,169		15&344
Property	investmenrs	0		304919	304&919
Other investments				459 720	46I,204
Net current assets		4449	-, ,966	0	12425
Long term liabilities		(io,ooo)		(90,000)	(xoo,ooo)
Pension	fund and loan swap provisions	(9,428)		0	(9M)
		(2,32o)	12,135	674,639	684&454
		Unrescricted	Restricted	Eadowment	2,020
		Funds	Funds	Funds	Total
		I'ooo	I'000	Fooo	k'000
Tangible	fixed assets	i3 355	4,r26	0	x7,48x
Property	investments	0	0	248 329	248&329
Other investments		1,504	0	394492	395,996
Net current assets		4,46o	6,882	0	II&342
Lang term liabilities		(io,ooo)		(55,ooo)	(65,ooo)
Pension	fund and loan ovap provisions	(11,426)		0	(II&426)
		(2,107)	u,oo8	587,82t	596&722

Remuneration paid to trustees
		2020-21			2019-20
		Gross remuneration,	taxable
	iVumber oF	benefits and pension		Number of	Gross remunerarion,		taxable
Range	Trustees/Fe)iows	contributions		Trustees/FeBows	benefits and	ension contributions
jr-j4999		2,268				2,278
f5,000-j9,999		9413				15595
f10,000-f14,999		27,686				27,232
frS,ooo-jt9,999		74 91S				108,242
fIo,ooo-f24,999		69,4o7				85,838
f25,ooo-f29 999		55.953				86,903
jlo,ooo-j34 999		20t,641		Io		332,558
f)t,ooo-f39 999		417,906				339,882
j40,000-j+b999		84,t3S
j45,000-j49 999		193,170				144,300
jSo,ooo-f 5*999						105,425
f55,000-f59 999		17503'				118,202
j6o,ooo-j64,999		124 537				60,984
f65,ooo-f69,999		34r, 811				338,16o
f7o,ooo-f74999		290,043				14b654
f75,000 f79 999		78,609				77,376
f85,ooo-f89,999		89,643
jioo,ooo-fto4 999		104,431
fios,ooo-fro9,999						214,287
jiio,ooo-fu4 999		110,205				110,109
fr1s,ooo-f r19,999		ir6,3oS				235,186
f135,000-fr39 999		16,8 0
Total	56	2 /03 959		59		2,547,211

			Notes	USS		OSPS
Date ofvaluation:				3I/03/I8		3I/03/I9
Date valuarion resuhs published:				16/09/I9		?9/06/20
Value ofliabilities:				567.3bn		2848m
Value ofassets:				$63.7bn		5735m
Funding surplus / (deficit):				(X3.6bn)		(XII3m)
Principal assumprions:
~ Discoum rate			a /tc b	CPI —0.73%to		Gilts +o.5'yo to
				CPI + z.52%pa
~ Rate ofincrease in salaries				n/a		RPI
~ Rate ofincrease in pensions			cgcd	CPI pa		Ave RPUCPI pa
Mortality assumptions:
~ Males currenrly aged 65 (males)				24.6yrs		2I.7 yrs
~ Females currendy	aged 65 (males)			z6.t yrs		24.4yrs
~ )viales currendy aged 45 (males)				z6.6yrs		23.0 yts
~ Females currendy	aged 45 (males)			2.7.9 yrs		25.80yts
Funding ILtrios:
~ Technical provisions basis				95'/o		87%
~ Statutory Pension	Protection Fund	basis		76%
~ 'Buy-out' basis				56'/o		6o'/o
Recommended employer's contribution		rate		zt.t%		r99'o
(as 9o ofpensionable	salaries);			increasing	to
				z3.7%on
				OI/Io/201
EBective date ofnext	valuation:			3?/03/20		31/03/22

Sensitivity o	factuarial valuation assumptions	factuarial valuation assumptions
Surpluses or	deficits which arise ar fumre valuations		may impact on		the House's f'umre canmbution						commitment.	The sensitivities regarding	the principal
assumptions	used to measure	the scheme liabilities	are	set out below:
USSAssumptions:					USS Change in			Assumptions				Impact on USS liabilities
Inirial discounr rare						increase	b	o.t'Yo				decrease b	6r.zbn
r values						reduce	b	ro9o				increase b	56.4bn
RPI - CPI s	read					increase	b	o.i%				decrease b	Xo.ybn
Rate ofmortality				more prudent		assumption		(mortality		used	at last	increase by	t'r. 6bn
				valuarion,		rated down		b a further
OSPS Assum	uons:				OSPS Chan e		in	Assum	nons			Im act on OSPS cechnical		rovisions
aluation rate oFinterest						decretse b		o.zoo/o				increase b	I m
RPI						increase	b	o.zI%				increase b	54am

		USS	OSPS
Finish Date for Deficit Recovery Plan		9r/ar/z8	9r/o3/z8
verage staff number increase		r.oo%	8,oo9o
verage snif salary increase		r.so'Yo	r.so'Yo
verage discount rate over the	period	o.89o/o	o.89%
Effectofo.lo/o change ia discount rate		6zyk	59ok
Effect ofr% chan e in stafF	owrh	ft6k	Xz8k

					2,02,I				2020
chcme				Contcibutinns	Movement	In	Total	Contributions	Movement	in	Total
				f'ooo	f'ooo		f'ooo	f'ooo	Zoon		f'ooo
Universities Supecannuarion			Scheme		-I75			73'	-9IO		'79
University ofOxFocd		Sra/F	Pension Scheme		23I		6o	8o7			723
Church oFEngland	Funded		Pension Scheme					6	0		36
he Teachers' Pension		Scheme		x 8			x 8	I95			I95
he Pensions Trusc				Io	Io			82			i93
NEST
Total				r 8oo	- x6		x, 8	r8 z
Summacy ofdeBned		benefit pension scheme liability
					OSPS			Total
				f.'ooo	f'ooo		fooo	f.'ooo
Pmvision b/Fwd				I,348	r,78o			3439
cruarial movement	in year			-r63	275		-IO
rovision c/fwd				I,389	I,SQS		IOI	2, I

The House has certain financial assets	The House has certain financial assets	The House has certain financial assets	The House has certain financial assets	and	and	financial	financial	liabilities	liabilities	ofa kind thar qualify as basic financial	ofa kind thar qualify as basic financial	ofa kind thar qualify as basic financial	instruments.	Basic financial	insrrumenrs	are initially	recognised
at uansacrion value	and subsequendy			measured			at	amomsed		cost. Certain other financial		insrrumenrs	are held ar	fair value, with	gains 2nd	losses being	recognised
within income and	expendirure.
The House has rhe	following		financial	insuuments:									202I	2020		202.1	2020
													Group	Group	The House		The House
													F,'000	i'000		f,'000	I'000
Financial assets measured		at fait value			through			statement		offinancial	activities&
Investments													461,204	395,996		506,398	4zo,8o7
													46I,204	395,996		506&398	420,807
Financial assets measured		at amortised				cost.
Cash and cash equivalents													15,212	'4 325		1+936	i3,676
Trade debtors													i 555	1,6o5		1,488	1,562
Amounts owed by House members													114	65		114	65
Amounu owed by Group underrakings													0	0		53r	1,215
Accrued incoine													88z	789		882
Other debtors													159	185		144	140
													I7,922,	?6,969		I8&095	17447
Financial liabilities	that are		debt Instruments				tneasured		at	amortised	cost:
Notes payable													90,000	55,000		90,000	55,000
Bank loans - including more			rhan r year										10,000	10,000		10,000	10,000
Trade creditors													2,216	z,69z		2,094	2 597
Amounts owed ro House Members													423	382		423	382
College connibuuon													0	0		0	0
Accruals and deferred income													3,758	3,673		3 369	3 559
													Io6,397	71747		Io5,886	7i,538
Financial liabilities	that ate		measured		at fait		value:
Fair value cost ofloan swap													6,385	7,916		6,385	7,916
													6,385	7,916		6,385	7,916
Gains and losses on	rhe loan	swap in rhe			year are disclosed				on	rhe face ofthe SOFA.
RECONCKIATION OF NET INCOMNG							RESOURCES TO NET				CASH FLOW	FROM OPERATIONS
																202I	2020
																Group	Group
																f,'000	ZQOO
Net income																87,73z	8 794
Elinrhradon ofnon-operating			cash fiows:
Investmenr income																(19,596)	(20,079)
Gains in invesrmenrs															(88,38o)		(8,455)
Endosvmenr donauons																(1,427)	(z,o3o)
Iiuerest payable on notes																1,402	1,244
hivesnnent management cosrs																4,107	2 993
Depreciarion																909	907
Surplus on sale offixed assets																(212)	0
Decrease/(Increase)	in stock															II	(io6)
Decrease in debrors																72	7'9
Increase in credirors																(z7o)	(r3o)
Decrease in provisions																(19)	(34)
Decrease in pension	scheme liability															(448)	(8zo)
(Deciease)/Increase	in loan swap reserve															(I 531)	1,2,54
Net cash provided	by (used	in) operating				activities									(I7,65o)		(15743)

28	ANALYSIS OF	CHANGES IN NET DEBT	CHANGES IN NET DEBT	CHANGES IN NET DEBT	CHANGES IN NET DEBT
												Non-cash
										At start ofyear	Cash Bovis	changes	At end ofyear
										f'000	f.'ooo	f'ooo	f'ooo
										Group	Group	Group	Group
	Cash									14325	887		15,2.12
	Loans falling due after one year									-72,916	(35,0oo)	c531	(106,385)
	Total									(58,591)	(34,113)	I)531	51&173)
29	ANALYSIS OF	CASH AND CASH EQUIVALENTS
												2021	2020
												f'ooo	Eooo
												Group	Group
	Cash ar bank and in hand											15,212	14325
	Notice deposits	Oess than	3 months)
	Bank overdrafts
	Total cash and	cash equivalents										15s212	14325
3o	FINANCIAL COMMITMENTS
	At 31July the House has total commiunents				under		non-cancellable		operaung	leases as follows:		2021	2020
												f'ooo	f'ooo
	Land and buildings
	payable within one year											923	904.
	payable between	two and	five years									3,690	3,6r8
	payable in over five years											z8,$99	z8,943
												33,212	33,465
	Total expenditure	in the year on land and			building		operating	leases	was f921k	(zo19-zo:f905k).
	Other
	payable within one year											14
	payable between	two and	five years										31
	payable in over five years
												14	31
	Total expenditure	in the year on other operating				leases was f13k (zor8-15cfirk).
31	CAPITAL COMMITMENTS
	There are no capital committments			diat require		disclosure.

The House may enter into equity sharing	The House may enter into equity sharing	arrangements	with an Official Student,	Officers ofthe House or other persons employed	by rhe House under	by rhe House under	Stamte
XXVII(5).The House has propenies	wirh	the following	ner book values owned joinrly wirh tmstees under joint equiq	ownership	agreements	between	the trustee
and the House.
						2021	2020
						f'ooo	f.'OOO
Dr A Kuhn							274
Dr BYoung						190	190
Dr D Aarts						233	233
Dr BParkinson						310	310
Dr EKeene						311	311
Dr S Dadson							312
Dr JYee							300
Dr D Obbink							434

35a CONSOLIDATED S	TAT	EM	ENT	OF FINANCIAL	ACTIVIT	IES	FORTHE YEARENDE	D 3xJULY zozo
							Unresn icted	Restricred	Endowed	202.0
							Funds	Funds	Funds	Total
					Notes		Zoon	f.'ooo	Eooo	6'000
INCOME AND ENDOWMENTS			FROM&
Charitable actlvitiesi
Teaching, research and residential							8 $64			8,564
Cathedral School							2 374			2 374
Cathedral							99	229	10	338
Other trading income							1,07$			1,075
Donations and legacies							110	377	1.&030	2&517
Inv«stm eats i
Investment income							123	23	i9 933	20&079
Torsi return allocated to		income					io,zo6	6,zzz	(r6,4z8)
Other income							1,091	16		1&107
Total income							23,642	6,867	5&$45	36,0S4
EXPENDITURE ONi
Charitable activitiesi
Teaching, research and residential							r8,888	4 247		23&135
Other charitable activities								798		798
Cathedral School							2,796			2,796
Cathedral							i,837	&.6,		2&004
Genefaung ftllldsi
Fundraising							6z6
Trading expenditure							86$			865
Endowment management		costs					151		2,84z	2&993
interest payable on loan notes									1,244	I&244
Total expenditure							25,163	5&212	4,0S6	34&461
Net Income/(Expenditure)	before gains						(1,521)	r,655	1&459	i&593
Net gains on investments					12,13				8,4$$	8&45$
(Losses)/Gains on complex financial				instruments	z6		(i&»4)			(1&254)
Net Income							(277S)	1,655	9&9i4	8,794
Transfers between funds					34e		1,404	(r 743)	339
N«t tnovement in funds for	the	year					(*,371)	(88)	10,253	8&794
Fund balances brought forward							(736)	11,096	$77,568	587,928
Funds carried forward at 3xJuly							(»07)	xx,oo8	587,82x	$96,722
See page zz for the Consolidated			Sratement ofFinancial		Acuviues	for rhe currenr year to which this note compares.

Group							Residential	2020
					Agricultural	Commercial	and Orher	Total
					Zoao	t'000	Eooo	f.'000
Valuation		at start ofyear			90 324	9I,I64	3&,567	223&055
Additions		and improvements		at cost	340	25 473	48	25,86x
Disposals					(n993)	30	0	(x,963)
Revaluation		gains/(losses)	in	the year	I0,323	744	309	xx,376
Valuation		at end ofyear			98&994	I27,4II	3' 924	248&329
The House							Res&dential	202I
					Agricultural	Commercial	and Orher	Total
					6000	Z'000	f.'ooa	f.'000
Valuation	at start ofyear					9I,I67	3&,567	287&ao6
Additions	and improvements			at cost	27	25 473	48	25,548
Disposal s					(n993)	30	0	(r,963)
Revaluation		gains/gasses)	in	the year	I0,323	744	309	II&376
Valuation		at end ofyear			72,829	II7,4I4	32 924	222,x67

	The House	Christ Church	Christ Church	Christ Church	Thomas
		(Eves ham)		(Daventry)	Wolsey
		Linuted		Limited	Propeny
	Eooo	oooo		ZOOO	f.'OOO
Income			2	76	33
Expenditure	(»,»I)		(I)	(72)	(4)
Donation to the House under gift aid	55		0	0	0
Result for the year	I 557			5	29
Total assers	679,868		I02,	4II	4,9I2
Total liabilities	(83,272)		(2o)	(r92)	(283)
Net funds at the end ofyear	596,696		82	2,I9	4,629
		Wick Farming		Christ Church	Chrisr Church
		Limired		Developments	Oxfixrd
				Limited	Trading
		6'000		2'000	Zona
Income			30		r,08o
Expenditure			(29)		I,025
Donarion to the House under gift aid			0		(55)
Result for the year				0	2,050
Total assets		3	305	r6	634
Total liabilities		(I»3I)			(634)
Net funds at rhe end ofyear		2,274		r6
See nate 24 for the current year note m which this note compares.

								Permanent	Endowmem		Expendable	Total
								Unapplied			Endowment	Endowments
						Trust For			Tonal
						Invest	rn en	r	Return	Total
							f'000		f'000	f'ooo	f'000	f'000
At the beginning ofthe year:
Gift component ofthe permanent			endowment				I3,656			r3,656		I3,656
Unapplied total return Expendable endowment									9 948	9,948	~&64	9,948 553,964
Total Endowments						I3&656			9&948	23,604	553,964	S77S«
Movements in the reporting	period&
Gift ofendowment funds							r93			I93	r,837	2,030
Invesunent return: total invesunent			income						8I9	8I9	19,I24	69 943
Investment remrn: realised and unrealised				gains and losses					346	346	8,I09	8,4ss
Less; Invesunent management	cosrs								(I69)	(I69)	(»9I7)	(4,o86)
Other uansfers											288	339
Total							I93		I,047	I,240	2544'	z6,68I
Unapplied total return allocated to Expendable endowmems transferred			income in the repomng to income		period				(6z8) (628)	(6z8) 0 66 &6	(r5,8oo) ~6.&	(I6,4z8) 0 (r6,428)
Net movements in repotting	period						I93		4I9		9,64x	Io&253
At end ofthe reporting period:
Gift component ofthe permanent Unapplied toml return Expendable endowment Total Endowments		endowment				&3,849 I3,849			ro,367 Io&367	I3849 ro, 367 24&2I6	~6,6 563&605	r3,849 t0,367 ~6.6 587,82x
See note ts for rhe current year	note		to which this note compares.

	At IAugust	At IAugust				Gains/	At 32July
		2019	Income	Expenditure	Transfers	(losses)	202,0
		I.'000	I.'000	t'000	5'000	6'ooo	6'000
Endowment Funds - Permanent
Student Support Funds		8,576	323	(61)	(232)	125	8,73x
Academic Posts Funds		14&961	687	(107)	(344)	22,1	r5,4x8
Library Funds		67	2	(I)	(2)		67
Endowment Funds - Expendable
Heyman-Morirz Benef'action		52,100	I 79S	(368)	(»497)	761	52&792
Dr South (3/srhs)		33 2S6	1,130	(232)	(942)	479	33,69x
Lee Benefaction		12,231	421	(86)	(351)	I &9	I-'»394
Mercury Fund (5/7ths)		rr, 161	384	(79)	(321)	r63	12,308
Buildings Funds		5 397	186	(38)	(IS4)	79	5&470
Gardens 8c Grounds Funds		5'5	18	(4)	(15)	8	52,2
Sports Clubs Funds		27		0	(I)		27
Library Funds		3,071	109	(zz)	(87)	45	3,xr6
Picture Gallery Funds		432	Is	(3)	(12)	6	438
Academic Posts Funds		28,399	1,086	(zor)	(733)	4r6	28,967
Student Support Funds		22,831	1,100	(163)	(6o4)	338	23,502
Cathedral 8r Chorister Support Funds Benefices Funds Other Funds General Endowment Funds Total Endowment Funds	'I 33S 20,3o8 8,852 ~3 ~l&,&68		78z 700 329 ~9 21 973	(79) (143) (63) (2,436) (4,o86)	(291)) (584) (49) (9,871) 86, 89)	169 297 130 ~8 ~8,	xx&927 2,0,578 9&299 32266688 ~8&,&I*I
Restricted Income Funds - Permanent
Student Support Funds Library Funds Academic Posts Funds	r6r 8 ~8			(134) (I) (z6o)	132 (I) 334	0 0	170 6 ~8
Sub-total Restricted income (Permanent)		453		(395)
Restricted Income Funds - Expendable
Heyman-Moritz Benefaction		47		(1,4z6)	»483		x04
Dr South (3/sths)		I,541	19	(794)	942		I&708
Lee Benefaction		215		(314)	351		2.5'2
Mercury Fund (5/7ths)				(363)	321		69
Buildings		16		I	5
Gardens 8t Grounds Funds				(2)	2
Sports Clubs Funds				0	I
Library Funds				(74)	85		45
Picture Gallery Funds		12,		(r)	5		x6
Academic Posu Funds		974	34	(57r)	64S		r,o82
Srudem Support Funds		1,204	6r	(513)	S76		x,328
Cathedral 8cChorister Support Funds		27		(292)	z89		29
Benefices Funds Other Funds Sub-total Restricted income (Expendable)	90 ~46			(4)	2.2 159 4,886		xo8

	Ac IAugust					Gains/	Gains/	At 3xJuly
	2,«OI9	Income		Expenditure	Transfers	(losses)
	f.'ooo	6'ooo		6'ooo	6'ooo	oooo		5'ooo
Buildings Funds	44I9		9I	(54)	(r3r)			43325
Gardens 8cGrounds funds	6		7	(Ir)	0			2
Spores Funds	I5		5	0	0
Library Funds	III		55	(25)	(4)			*37
Picture Gallery Funds	56		8	(I2)	0			52
Academic Posrs Funds			0	0	0			0
Student Supporr Funds	I87		63	(58)	(5)			r87
Cachedral 8c Choriscer Supporr Funds Ocher Funds Sub-total Restricted income funds Ton)I Restricted Funds	r,o8r 3o7 , 96	2,3I 55 ~64		(I49) (8o) ~)8 )	(752) 20 ~)8		o	xx,oo8
Unrestcicted Funds
Designated funds	6oo		89	(256)				733
General funds	9 535	I2,965		(25 32I)	II,3IQ			8,489
Defined benefit pension scheme reserve	(4»59)		o	82o			0	(33439)
Loan swap fair va!ue reserve	(6,662)					(n	254)	(7,9x6)
Total Unrestricted Funds - The House	(,86)	3	34		,6
Designated funds - subsidiaries			0	0
General funds - subsidiaries	50		382	(4o6)				26
Revaluauon reserve - subsidiaries				0
Total Unrestticted Funds - subsidiaries Total Unrestricted Fuads - Group	50 (736)	38 I3,436		~)6) (25,r63)	»,6	~8,	«)	~)4* )
Total Funds	587,928	36,o54		(34,46r)	0	7,20I		596,722
See nore 2o for rhe current year noce cowhich	chis noce compares.

The schedules	have been:
prepared	under the hisrorical		cost convention,		subject to rhe revaluation				ofcertain axed assets;
prepared	using United Kingdom generally			accepted accounting practice,					in accordance	wirh Financial Reporting	Standard Ioa		(FRS t02)	and the
Srarement ofRecommended			Practice: Accounting			for Further and Higher Educacion (2or9 edirion);
presented	in pounds srerling.
														2020
										f,'000	f,'000		Xooo		Looo
dahle Net Assets
Balance Sheer - Net assers without			donor restrictions-			Ner assers wirhout		donor			(2,32o)				(2,107)
sum ofDesignated Funds, General Funds and				Pension		restrictions
reserve
Balance Sheet	- Net assets with donor restricrions-				sum	Ner assers with donor restrictions					686,774				598,829
ofEndowment	and Resuicted Funds
Balance Sheet	—Related party receivable (note			I6) and		Secured and Unsecured related
Related party	nore disdosure (note 32)					party receivable
Balance Sheet	- Related party receivable (note			I6) and		Unsecured related		party receivable
Related party	noce disdosure (note 32)
Balance Sheet	- Property, Planr and equipmenr,			net-		Property, plant and		equipmem,		I5 344			17,48I
Total note Ia						net (indudes Consuuctiorr in
						progress)
Notes m the Financial Sratements			—Balance Sheer-			Propeuy, plant and		equipment-			I5',252				I6,378
Property, plant and equipment -		pre-implernentation-				pre-implementation
Total note ro	less additions
Notes to rhe Financial Statements			- Balance Sheet—			Property, plant and		equipment-
Property, plant and equipmem —post-impiementation						post-impl«mentation			wirh
with outstanding debt for original			purchase			ourstanding debt fot			original
						purchase
Notes to rhe Finaacial Statemenrs			- Balance Sheet-			Property, plant and		equipmenr-				92				746
Praperty, plant and equipment -		post-implemenmtion				post-implemenmtion			without
without outstanding debt for original purchase				- note		outstanding debt for			original
Ia						purchase
Notes to the Financial Statements			—Balance Sheer-			Construction in progress										357
Consuuction	in progress
Balance Sheet	- Lease r' ht-of-use		assets, net			Lease ri ht-of-use	asset, net
Notes to the Financial Statements			- Balance Sheer-			Lease right-of-use	asset pre-
Lease righr-of-use asser pre-implementation						implemenrarion
Notes to the Financial Statements			- Balance Sheet-			Lease right-of-use	asset post-
Lease right-of'-use asset post-implementarion						implementation
Balance Sheet	- Goodwill					Inamgible assets
Balance Sheet	- Other intangible	assets				Intangible assets
Balance Sheet	- Post-employment		and pension	liabiTiries		Post-employment	2nd pension				2,99I				3	439
						liabiliries
Balance Sheet	—Note Payable and		Line ofCredir for			Long-rerm debt - for			long rerm	100,000			65,ooo
long-term purposes (both current			and long term) and			purposes
Line ofCredit	far Constmction in		process
Balance Sheer	- Note Payable and		Line ofCredir for			lang-term debt —for			long term		50,000				50,000
long-term purposes (both current			and long term) and			purposes pre-implemenrarion
Line ofCredit	fi&r Consuuction in		process
Balance Sheet	- Note Payable and		Line afCredit far			Line ofCredit for	Construction
long-term purposes (borh currem			and long rerm) and			in process
Line ofCredir	for Consuuction in		process
Balance Sheer	- Lease ri ht-of-use		asset liabili			Lease ri hr-of-use asset liability
Balance Sheet	- Lease right-of-use		asset fiability	pre-		Pre-implementation		right-of-use
implementarion						leases
Balance Sheet	- Lease right-of-use		asset liability	post-		Post-implementation			right-of-use
implemenrarion						leases
Balance Sheet	- Annuities					Annuities with donor			resrricuons
Balance Sheet	- Term endowments					Term endowments		with donor
						restricrions
Balance Sheet	- Life Income Funds					Life income funds	wirh donor
						resuicrions
Balance Sheet	- Perpetual Funds					Net assets with donor					28,27o				24,2I6
						resuicrions: resrricred			in
						perpetuiq


							5'000	L'000	6'000	f,'000
Modilied Net Assets
Statement ofFinancial Acriviries - Toral Operating		Tonl expenses wirhout				donor		34,636		34,46i
Expenses (Total I'tom Sratemenr ofFinancial Acriviries		restrictions	- taken direcdy from
prior ro adjustments)		Statement	ofFinancial			Activities
Starement ofFinancial Activiries - Non-Operating		Non-Operanng		and Net				io9,507		zy,z8o
investment rerum appropriated for spending),		Investment	gain	(loss)
Investments, net ofannual spending gain (loss), Other
components ofnet periodic pension costs, Pension-
related changes ocher chan net periodic pension,
changes orher rhan net periodic pension, Change	in
value ofsplit-interest agreemems and Other gains	(loss)
- (Total from Smtement ofFinancial Acriviries prior to
adjustmenrs)
Statement ofFinancial Activiries - (Invesnnent return		Net invesunent		gain (losses)				ro7,976		28 S34
appropriated for spending) and Investments, net of
annual spending, gain (loss)
Statement ofFinancial Activities - Pension related		Pension-related		changes		orher
changes other rhan periodic pension		than net periodic			costs
Balance Sheet - Net assets without donor resmctions-		Net assets	wirhout		donor			(z,3zo)		(2,107)
sum ofDesignared Funds, General Funds and Pension		resuictions
reserve
Balance Sheet - Net assets with donor restrictions-	sum	Net assets	with donor resnicrions					686,774		S98,82,9
ofEndowment and Resmcted Funds
Balance Sheet - Goodwill		Inntngible	assets
Balance Sheet - Related party receivable (note i6)	and	Secured and Unsecured				re)ared
Relared party note disclosure (note 3z)		party receivable
Balance Sheet - Related party receivable (note i6)	and	Unsecured	related		party	receivable
Relared pany note disclosure (note 3z)
Morhlled Assets
Balance Sheet - Total Assets		Toral Assets						8oo,SSr		68o,o87
Notes ro the Financial Statements - Balance Sheet-		Lease righr-of-use			asset	pre-
Lease right-of-use asset pre-implementation		implemeniation
Balance Sheet - Goodwill		Incm ible	assets
Balance Sheet - Related party receivable (note i6)	and	Secured and Unsecured				relared
Related pany nore disclosure (note 3z)		party receivable
Balance Sheet - Related party receivable (iiote i6)	and	Unsecured	related		party	receivable
Related party note disclosure (note Sz)
Net Income Ratio
Statemenr ofFinancial Activiries - Change in Net		Change in	iNet Assets Without					(zi3)		(r,37r)
Assers Without Donor Restrictions		Donor Resrricnons
Sratemem ofFinancial Activines —(Net assets released		Total Revenue and Gains						rz,86i		IS97S
from restriction), Total Operating Revenue and Other
Additions and Sale ofFixed Assets, gains (losses)- Toral
income less investment income