## |||||Pages| |---|---|---|---|---| |Coverniug
golly, OFficers and Advisers||||2-4| |Rcport ofthe|Governing|Body||5 '4| |Independent|Auditor's|Report||I5.17| |Statement ofAccouming
Policies||||l8-22,| |Consolidated|Statement|ofFinancial|Activirics|| |Consolidated|and House Balance Sheers|||24| |Consolidated|Staremenr|ofCash Flows||25| |Notes to the|Financial|Statements||26-50| ## ## |||||||(t)|(z)|(3)|(6)|(y)| |---|---|---|---|---|---|---|---|---|---|---| |Dean:||||||||||| |The Ve
Reverend
Professor M.'sV. Pere||(rcsi ned||z6 A|r zozz)|||||| |Canons:||||||||||| |The Reverend Canon Professor|N.J.Biggar|(retired 3oSept|||zozz)|||||| |The Reverend Canon Professor|S.R.I.Foot|||||~|~|||| |The Reverend Canon Professor|G.D, Ward|||||||||| |Canon Professor C. Harrison||||||~|~|||| |The Venemble J.P.M. Chalfey||||||||||| |The Reverend R.C.Peers||(resi|ned|tsr Nov zozz)||||||| |Students:||||||||||| |Professor R.B. Rutherford||||||||||| |ProFessor R.L.Judson||||||||||| |Professor I.M.C. Warson||||||||||| |Professor E.J.F.Sim
son||||||||||| |Professor S.D.Howison||||||||||| |Professor M.J. Edwards||||||||||| |Professor M.D. McCul loch||||||||||| |Professor S.L. Rowland-Jones||||||||||| |Dr B.E.Jaclt||||||||||| |Professor D.P. McDonald||||||||||| |Professor S.Neubauer||||||||||| |ProFessor B.Parkinson||||||||||| |Professor E.M.C. Tandello-Coo|er|(I'ettt'etl 30Sc|||[zozr)|||||| |Dr D.P. Moran||||||||||| |Professor G. Willrinson||||||||||| |Professor R.L. Davies||||||||||| |Professor SirJ.I. Bell||(resi|ned 3oSc t zozz)|||||||| |ProFessor G.A.
ohnson||||||||||| |Professor J.G.E. Cross||||||||||| |Dr A.J.Clarlt||||||||||| |Dr B.'sV. Youn||||||||||| |Professor J.J.Davis||||||||||| |ProFessor M.C.A Bose||||||||||| |Professor J.Yee||||||||||| |ProFessor A. 1&uhn||||||||||| |Mr J.C.F.S.I.awrie||||||||||| |ProFessor D.Aarts||||||||||| |Professor S.J.Cra||||||||||| |ProFessor R. 'sVade-Martins||||||||||| |Professor J.I&.Schear||||||||||| |Professor E.G.W, 1&esne||||||||||| |Professor S.C. Mortimer||||||||||| |Professor I&.McGer||||||||||| |Ms P.A. Linibres-Hartle||||||||||| |Mr I&.Stcrnber||||||||||| |Ms L.Flder||||||||||| |Professor S. Dadson||||||||||| |Professor S.L. Newstead||||||||||| |Professor 1(.C. 1(in
Professor R.Barlter||(rest|ned
r Jul||' zozz)|||||| ## |ear ended st July zozz||||| |---|---|---|---|---| |Professor S. Hiscocl&||||| |Professor G. Hutchinson||||| |Dr K.Lebow||||| |Professor A. Kuo||||| |Professor SirT.Berners-Lce||||| |Professor A. Vasudevan||||| |ProFessor P. Sedldcel&||(resi|ned st|Au
zozr)| |Professor Y. Gal||||| |DrJAllison||(resi|ned so Se t zozt)|| |Dr S Duncan||(resi|ned so Au
zozz)|| |Professor S Grahl||||| |ProFessor M Holwe||||| |ProFessor C Kcnneficl&||||| |Professor Y Nal&atsul&asa||||| |Dr L Brassart||||| |Dr ESmith||(resi|ned so Se t zozz)|| |ProFessor N. R.Mean|o|(a|ointed|r Se t zozn)| |Dr F.Giusti||(a|ointed|r Oct zom)| |Dr A. Chiavari||(a|ointcd|r Se tzozz)| |Dr W. Ghosh||(a|aimed|r Se rzozz)| |DrT.Ko latadze||(a|ointed|t Se &zozz)| |Dr N. Smart||(a|ointed|t Oct zozz)| |Professor A. Benaissa||(a|ointed|r Oct zozz)| |Ms P. Robens||(a|ointed|r Ocr zozz)| |ProFessor S. Smart&||(a|oin ted|I Oct zozz)| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Thc con|solidated
net Funds o|f the H|ouse rose by|E87,770lc in thc year (zozo-zt:| |---|---|---|---|---| ||||202I"22,|2020-2I| |~|Unrcstrictcd
Funds||(E 8iz&ol&)|(E
zr&l&)| |~|Rcstrictccl fumls||E
88zk|(J.
tnzyl&)| |~|1)ndowmcnc
fimcls|(*)|E9hitgk|J.86,8I81&| |(*)Inclucling
total iiwcsnncnt||gains|in thc year oF J90,zgyl& (zozo-zi.' J88,38ol&).|| ## ## ## ## |Risk||||||||||Measures||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||Regulatory|iislc||||||||Close cominunication
with die Clmrit&
Commission
in light
ofthe OFFicial Warning||| ||Pandemic|||||||||Effective implementation
oFgoveinmenc
policies;|supporc|For| |||||||||||research into effcccivc treatmenc
and vaccination.|Insurance|| |||||||||||(where possible)||| ||Rccruinnent||oF|scaFF||(academic||and|non-|ferms and condicions ofservice reviewed
regularly||| ||acadeinic)|||||||||||| ||ltcpucational
standards||risl&|From||lapses|in|academic||Monicor admissions
procedures,
student
satisfaction
and
student
performance
induding
exam resuhs||| ||IT nccwork|and dace|||sccurir&|||||IT managed
jointly with Pembroke
/k Sc Peter's Colleges.||| |||||||||||Investinenc
in people and hardware/software||| |6.|Disasrcr|||||||||Recovery planning
procedures
reviewed
regularly,|liaison with|| |||||||||||emergency
services||| ||Decline in|purchasing|||power ofthe cndowmcnc|||||DiversiFied
porcFolio and close oversight
From the|Investment|| |||||||||||Group||| |8.|I'ower supply||disi|up&ion||||||Contra«
in phce For s&andby generators||| |y.|Fmployment||disputes|||||||Govcrnancc
and Human
Resources
rcvicws comniissionccl
and umlcrway||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Notes|Notes|Unres&ric&ed
Funds
f.'ooo|1?clrriaed
Funds
f,'ooo|Endowed
Fllll&l&
f.'ooo|2022
Total
J'000|2021
Tool
E'ooo| |---|---|---|---|---|---|---|---|---| |INCOME AN D ENDOWMENTS|FROM:|||||||| |Charitable
activities:
Teaching,
research and residential
Carhedral
School||||9,588
t,996
134|65
236|IO|9,588
2,0GI
38o|6,439
2.,014
163| |Cadied ra I||||||||| |I-leri&age
Donations and legacies
Other trading income||||05
976|4s6|3,010|3 581
976|2,ug
r82| |Investments:
investment
income
Total return
allocated to income
Other income
Total income||15
5||170
11,715
60o
25,294|z6
7,186
15
7&984|z7,984
(18,901)
12103|zg,rBo
6rS
45,381|19 596
n945
3b457| |EXPENDITURE ON:||||||||| |Charitable
activities:
Teaching,
research
an&I rcsi&lemial||||so,618|5039
766||35,657
7GG|22,38r
624| |Ocher char irable activities
Cadledral
School
Carhedrsl||||2,651
1,750|303||2,Gsr
2,053|2,i6i
2449| |Public worship||||||||| |)seri&a e||||||||| |Generating
fitn&ls:
Fundraising
Trading
expen&li &0re
Endowmem
management|co&ra|||794
9l7
r84||5 603
2,073|794
947
5,787
2,073|603
609
4, 107
1,402| |Iiuerest payable on loan notes|||||G,rog|7,676|50,728|34,G36| |Total expenditure||||||||| |Net Income/(Expenditure)
before gains||||(11,65o)|1,876|4427|(su47)|(2 179)| |Ncl galils Oil lllvcsllncnl'&
Gains on complex financial
Net Income|ins&rumeius|12., I3
z6||2,830
(B,gzo)|r,87G|90,287
94,7r4|90287
2,83o
87,77o|88,380
1,531
87,732| |Transfers
between
funds|||20|590|(994)|||| |Net movenlent
in funds for the year||||(Siaso)|882|95,118|S7,77o|87.7»| |Fund bahmces
brought
I'orwir&I|||ZO|(zuzo)|12,,135|674,639|684,454|596,722| |Funds carried forward at sr July||||(ro,tso)|13,017|7G9,757|772,224|684,454| ## |||||2022|2021|2022|2021| |---|---|---|---|---|---|---|---| ||||Notes|Group
6'ooo|Group
Eooo|The House
6'000|TIIc House
OOOO| |FIXEDASSETS
Tangible
assets
Property
invesnnents
Odler invenments|||10
12
13|14707
357,828
504 525|15 344
304,918
461,204|14704
310003
549 719|ls 338
258,244
506,398| |Total Fixed Assets||||877,o6o|78r,466|874,426|779980| |CURRENT ASSETS
Stocks
Debra rs
Cash at bank and in hand|||16|944
9,9G6
r3,362|813
3,060
I5,212|885
13,675
lar403|766
4,862
14,936| |Total Carrent Assets||||24,272|19,085|26,963|20,564| |LIABILITIES
Creditors: amourus
Falling duc within||one year|17|2.0,324|6,669|20,405|6,574| |NET CURRENT ASSETS||||3,948|12,II6|6 ssg|13 9911| |TOTAL ASSETS LESSCURRENT LIABILITIES||||Bgr,oos|793,882|Bgo,984|793970| |CREDITORS: falling dne after more than one year|||rs|103 575|Ioli,385|1113575|106,385| |Provisions
for liabilities|anrl charges||19||||52| |NET ASSETS BEFORE|PENSION LIABILITY|||777 431|687,445|777,4o7|6S7,533| |Defined benefit pension|scheme liability||24|5 207|2991|si207|2 991| |TOTAL NET ASSETS|||||684,454|772,200|684,542| |FUNDS OF THE COLLEGE|||20||||| |Erulowment
funds||||769I757|674,639|769,757|674,639| |Restricted funds||||13,017|12.,135|13,017|12,135| |Unrestricted
flrnds
Designarerl
Funris
General
Funds||||1,589
(7,926)|I 494
1,013|r,589
(3401)|'I 494
5,65o| |Rcvahlsl\00
I'csclvc
Pension
and loan swap reserve|||ro, 24|4549
(8,762)|4 549
(9,D6)|(8,7G2)|(sd76)| ||||||684,454|772,200|684,541| ## ## |||||2,022,|202I| |---|---|---|---|---|---| ||||Notes|f.'000|E'ooo| |Net cash provided
by (used in) operating
activities|||27|(r8,938)|(W,650)| |Cash flows from investing
activities
Dividends,
mtcrcst and rcnrs From investmenrs
Cash inflows
From
new borrowing
Inreren
payable an loan notes
Invesrmcnt
management
costs||||rs,rgo
(2o73)
(5,787)|r9,596
35,000
(i,tor)
(4.roy)| |Proceeds From rhe sale of propercy,
plane anil cqniprnent|||||b533| |Purchase
of' propert&, plant and cquipmem
Proceeds from sale ofinvestmerus||||(298)
23 949|(03)
I3,I90| |Purchase of invemncncs
Net cash provided
by (used in) investing
activities||||(29 893)
r4, o78|(46,6oy)
I7,II0| |Cash flows front financing
activities|||||| |Repsymeius
ofborrowing
Receipt of endowment
Net cash provided
by (used in) financing
activities||||3,0I0
3,0IO|I,427
I,427| |Change in cash and cash erpiivalents
in the reporting|period|||(t,8to)|887| |Cash and cash equivalents
at the beginning ofthe reporting||period||15i212|i4 325| |Change in casli and cash equivalents
tine (oexchange|rate movements||||| |Cash and cash equivaleats
at the end of the reporting|period||29||| ## |INCOME
FROM CHARITABLE ACTIVITIES|INCOME
FROM CHARITABLE ACTIVITIES|INCOME
FROM CHARITABLE ACTIVITIES|INCOME
FROM CHARITABLE ACTIVITIES|INCOME
FROM CHARITABLE ACTIVITIES|INCOME
FROM CHARITABLE ACTIVITIES|||JOIJ|2011| |---|---|---|---|---|---|---|---|---|---| |||||||||5.'ooo|f.000| |T|hing, R
.
h and R sid||ndd||||||| |Unresrricred
f& nds||||||||I,j&0|I,995| ||'I uioon lees - Ul& and EU studcnrs
Tuinon
Ines - 0 c seas srudcnrs|||||||&,199
355|l,l}1
Snl,| ||Orher Oflice for Srudenrs|support||||||Ilz|Ilo| ||0 I er, cade
c lncmne||||||||1,707| ||Cogcgc residcnrial
income||||||||&03| ||Vinro
income||||||||| |Tora(Tes
I ing, Res«h||nd R||id ndal|||||| |Unrcsmaed
funds||||||||I 99G|1,0&S| ||Carhedr
I School incom|||||||I}S|sg| ||Carhedrolincomc|||||||2.Ijo|z,om| |A|roral ol'rnk (zozo-zl
GS}k)||nm receival||n rb|year|I' om rhe Comr 2 i&us lob Rercnnon|Schenle b} rhc Cachedral School nld Ca&bed II.|| |Resrricred
Mndr
Carbalr
I School incon e||||||||Gs
~26|roc| ||Ca hedral
irlc me|||||||301|IOS| |Fndo
edf nds||||||||In|u| ||Ca&bed
I income|||||||In|| |||||||||2.,&42|2.,&77| ## |4|INVESTMENT|INCOME|INCOME||202.2||10| |---|---|---|---|---|---|---|---| ||||||F,'ooo|Eooo|| ||Idrrnr
cledf||||Hi||7ft| ||Agriculmral|rcm|||15||5| ||Bank inreresr||||||I| ||Orherinreresr||||170||| ||0 her rnrerea||||||17| ||||||26||17| ||L' d vedfsrd||||SI5||Gla| ||Agricuirural|enc|||5 nl|5,lls|| ||Comr
ercial|cnr||||I|77I| ||Orher propc rl income
Eciulrr di
idcnrls
Orh
in
srmcnr
ncomc||||G56
~f9,50
~2,984|l75
~u,
6G
~19,48|| ||Tor
I I
v
tm|nti|co||28,tso|19|596| ||OTHER INCOME||||2027.||1011| ||Orher
Iisceg,|ncous|mco|c|l.'ooo
Goo
Goo|Eooo
~I, 18
1,918|| ||lhrrd t a'f
dr||||||| ||Odtcr miscelhlncous||income||IS||I7| ## |6|ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE|ANALYSIS OF EXPENDITURE||1001|011| |---|---|---|---|---|---|---|---| |||||||8000|Coo o| ||Ch||i&ski
spend't
r||||| |||Direcr snffcosrs agocared
Tcaclung,
research
and||&o
residcrind||II,I43|8,r46| |||Orhcr d rccc cosrs agocnrnl
'I'eaclung,
reset ch and
Orhe
ctiarirabl
acci
iri||co.
residcnnal
s||11,016
7G6|rr,oS6
614| ||||Carhnlnl
echo
I|||1,57&|h393| ||||Carbcdml|||2,0D|1449| |||S|pporrandgo
mari«cc
Teaching,
research and
Carhcd
al mhool|r
all csml
res dermal|rot|3,468
go|3449
65&| ||Tot||I
h
it bl
xp
ditur|||41,&17|17915| ||Exp||dit
o
ge
ting|f
ds|||| |||D ecr mfF cnsrs agocaccd||r|||| ||||Fundrais
ng|||534
48&|&75
mlt| ||||Trading
exp endimrc
I I esr
enr mansgcmen|co&ra||59|84| |||Other di acr co.rs goc.&red ro||||i67|15&| ||||Fuadra&
ng||||100| ||||Trading expendaure
Inves menr mamgcmenr|cosrs||W79
1.,073|3 714
1,401| ||||lnrc esc payable on nor«s||||| ||S
Tot||pporr
nd go
nance coscs agocared
F ndraising
Trad ng cxpcndirure
Invesrmnir
mniage
nr cosa
I
pendim
e on g
ti
g f nd||co&|93
8z
~34
&,Got|7G
gr
199
6.711| ||Total
xp
di&
r|||||50,718|34,G36| ## ## |Sl'AFP COSTS||||2022|'101.| |---|---|---|---|---|---| |||||flooo|6000| |The aggregnc s.IFcnsn For the||year|ere ss follows.||| |||||8m38|7,847| |SaLtnes
nd
vages||||826|713| |Sot 11xe ' Idt)' coax|||||| |Pension
o rs||||I,556|| |Defined bcncfiische
es||||2,I92|(448)| |Pension dehcir hab|bry mo|ment|(nore 24)|2 t07|Ix| |Redundancy
2nd rc|In. non cosrs|||PG6|8u| |Ocher benefits|||||| |||||x5,88G|io,ygg| ## ## |TANGIBLE F|I|X||ED|rb|qSEf|g|||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||||||||||Leasehold|||Freehol
I||F|rure,|||| |Gro
p|||||||||||||||||||||land||and|land a||lirnnp,|books|||| ||||||||||||||||||||||build
ngs
I'ooo|||buildmgs
f.'ooo||and equ|pment
f.'ooo||T tal
8'ooo|| |C
Ar sn col'year|||||||||||||||||||||||4I7||I»,511
66||8,3G6
1)1||13,304
298|| |Addirio
s|||||||||||||||||||||||||||D|||| |Di posab||||||||||||||||||||||||||||||| |Transfc
Ai
d fy.|||||||||||||||||||||||4ly ~l, gy|||~8,5 8|||1),dos|| |Dpeiti*||.||dimp||I|ent||||||||||||||||||»,ylg||3n)||7,06o|| |Ar srare of yea|||||||||||||||||||||||||Goo||D&|||935| |Depre«soon|charge||||for|d e|&ear||||||||||||||||||||0|||0| |Depreciarion
At md*fy|o||disp||sale||||||||||||||||||D||5,328|~567||~8,8||| |N tbo kv|I|e|||||||||||||||||||||4I7||9 259||),D)I||l» '707|| |At
nd
fy .r||||||||||||||||||||||||||||||| ||||||||||||||||||||||||'ii7||9 793||1234||IB341|| |Ar sts cof&ear||||||||||||||||||||||||||||||| |Th
Ho|||||||||||||||||||||l,easehold
land arid|||Freehold
land and||Fixnues,
firdngs, books||||| |||||||||||||||||||||||buildings
f.'ooo||b|lings
Gooo|and equip
enc
f.'ooo||||Totd
8'DDD| |C st|||||||||||||||||||||||4I7||IB5||8,&tl||23,28I|| |Ar scan of&|tr||||||||||||||||||||||||6G||134|||300| |Add«one|||||||||||||||||||||||||||0|||| |Disp
sale||||||||||||||||||||||||||||||| |Tra
sfers|||||||||||||||||||||||ti7||I4,588|~tb
7G||~23, 8r||| |At
d ofy||||||||||||||||||||||||||||||| |Dp
ido||||dimpi|||«I||||||||||||||||||0719||)ni I »|||7943| |Ar a err of' ye.|||||||||||||||||||||||||600||3H|||9)4| |Ch rge for th|||&'ear||||||||||||||||||||D||5,3 9|~548||||8,87y| |At
ndofy|.|||||||||||||||||||||||||||||| |Nlb
8||I|||||||||||||||||||||4'7||9H9||5,028|||I4,704| ||||||||||||||||||||||||4I7||9793||&, I28|||'5 338| |AI attn
li'Car||||||||||||||||||||||||||||||| |Th
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hl||||||||||||||||||||||||||||||| ## ## ||||||||||||20m.|loll| |---|---|---|---|---|---|---|---|---|---|---|---|---| |l3|OTHER INVESTMENTS|||CONTINUED|||||||Eooo|f.000| ||The Hone
inv
rmem||||||||||46I 204|39i996| ||Valuarlon
ar srarr oFymr||||||||||6,88,i|I io)| ||Ncu mon
y imesred||||||||||(21,8lo)|(34,798)| ||\ nounrs
lrhdra
(Decret e)/ «' mse
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Io|18,62r
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increase in
due of'invcsrmenrs||||||||||(u,546)|G),821| ||||||||||||5r'4 nf|46r,toc| ||||||||||||45 '94|41191| ||In e mlenr
n sobs dines|||||||||||| ||The H
sa Invest
nt||r|end|fy||||||549,729|)oG,398| |||||||Held|olde|I.lcld rn|2011|Held oun de|Held in|202I| ||Gopiv
t
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Eooo|rhc UK
Eooo|Told
f.'000|rhe UK
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f.'coo|Torsi
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Global nmlri-anec
Funds
9 openy
I'unde|||||||287
334))7
51,920|18y
H2 H7
II 9m||290
)54,801
525l5
5 lo'l|290
Ã4802
In)'5
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n
Fued mm d police and|cast||||||lr9,981|lr9 98l||49 l97|49 l97| ||tt|||||||504 515|504 525|0|46l,104|16I,104| ## ## |||||||||||||||||Thomas
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0 lord|rial Ciairch
0 lord||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||||9 opercy|||||||Trading|||| ||||||||||||||||||5'ooo||||5'ooo|||f'ooo||| |||||||||||||||||||)6|||S)|||978||| |Inc
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ndcr Bl'cxi|I|||||||||||||||||(i))
0|||(D)
B)|||(9&9)||| ||||||||||||||||||||||47|||||| |Re ul& for rhe)ear||||||||||||||||||||||||||| ||||||||||||||||||26,>||||) 39O|||No||| |Tora) nsscrs
Toid lab
I ries|||||||||||||||||(I,IQ)||||(cop))|||(964)||| |iNet f'unde ar thc end ofyear|||||||||||||||||26019||||2,197|||(i4)||| |Fo
p&loc)cil coopx .Ici
I Icc
occ|35c.|||||||||||||||||||||||||| |STATEMENT
OF )NVESTMENT|TOTAL RETURN|||||||||||||||||||||||||| |The Trustccs hi
adopred.
duly
urhor sed
rccum co he applied
as income rsmlcularedm
pr ceding Eve y ars The presened
(fm cn)
e do
erin
alued
ar dare ofyli.||||policy of roral ruurn
tc ounring
315'7 (tou. )253o) (pin cosrs)
linc ofrh
ime
d erld
rn
nr||||||||for tbe Hours's
in 'esrrn
ofrhea
&rage ol'rhe yea
c pm&i represenrs
irs open||||||nr returns
irb efFecr From
& Auyar
-end
aluesofrh
tele amimmrmenrs
marker
slue inioox rogerhcr
irh||||||xoor. Thorn
esrmen
in each ofrhe
alla
bseg
nr||| |||||||||||||||9|mmlenc
U||Endo
n enr
sppl cd||||||Expendable
El&do
ment|||Toiai
Edo
u| |||||||||||||'I'nur||for||||Tor
I||||||||| |||||||||||||In esrni
r
f.'ooo|||||Rerum
Eooo||||roid
Eooo|||f.'ooo||f.'oo| |At tb
b gi
ingoftb
y
Gifrconlponenrnfrh
permanent
endo
Unappl
ul mrai remrn||ncac||||||||||lml)4||||||rt,o)G|||&439&
r&,o)G|14 'U4
I4,0)G
~646,)G ~66,)6||||| |Expendable
endowmen
T*I.IEndo»
nt||||||||||||&4u34|||||ts,o)6||||28,170||G46,)69|||G74639| |Mov
nt
I
tl
parti gp
I d:
G fr oF eadowm
nr funds
estmenr
ecurn. rotal invesm
cnr m orna
Imcsrment
rerum&
realised
nd unreahsul
less; In" mien
manageme n coen|||gxins ~|||d lossu||||||||&47||||I,&75
3 792
(Bi)
69|||'47
&475
3,792
hii)
69|||I,SG&
26,8I9
86,495
(76)i)
B5|3.0&o
17 994
90,187
(7,67G)
~04|| |Orher
r
nsfers
Toi. I||||||||||||||II7||||4 7&5|||4,862|||'O9 &57||limo&9| |U wpplwd
rotal rerurri
Blocarcrl ro income in rii
Fipendable
endo mlcnrs transfctred
o inco ne
Ntn
vn
ui
rp rdngp
i
d||||||repairing||peri|d|||||o
' &7||||(739)
(737)
B97G|(739)
0
~(7))
.5,&23|||||(&8. G )
(Ik&62)
9CW95||(18.901)
0
(&8,9oi)
95,&&8| |At end of th
r pard
g p
iod:
GiF&cotnponen
ofri
pe&mancnrendo
Unapplied
roral
rerum
Ftp ndablc endo
m
nr
Total Endo
m nt||nenr|||||||||||rm)S
14,38&|||||rs,on
18,012.|||4,}8!
Is,oil
~7)BG
31393
737 3G4||||&4,381
IS.OIt
~737, Gs
769757|| |For p
or y ar c mpt, rwcs scc
ore 35||d.||||||||||||||||||||||||| |&6
DEBTORS||||||||||||||||||1012|||101&|||2.07.2||201I| |||||||||||||||||||Gro
p
f.000|||Gto
p
Coon||Tl|II
oooo||Thc Ho
se
f.'ooo| |Ant*
u
F, gi gd
'rlin*|y|||||||||||||||||r. 932.|||t5B|||1,74 I||i.i88| |Tr de dcbrors||||||||||||||||||&48|||l&4|||I 58||| |Amour&ra
owed by House mrmb|rs|||||||||||||||||0|||0|||2 579||B'| |Amo
ntso
cd by Group
unde
ctkings
Tataci
1 d iocial wc
riry
9 spay non
an&la
crued income||||||||||||||||||7
G,GIO
2.29|||l,l)i
159|||5
6,649
172||0
&.23&| |Orhcr deilmr||||||||||||||||||||||||||| |Ans*
ts f Bing du
ftm
o|du|o|||yurt|||||||||||||||||||&68&||| |loa
s||||||||||||||||||||||||||| |||||||||||||||||||9,9GG|||),CGO|||t),675||4,862| ## ## ## |xo|ANALYSIS OF MDVEMENTS|ON FUNDS|ON FUNDS|A rA
g
s
10'll
f.'coo|Incom
Dooo|F pendirure
Eooo|T|&fere
l.'ooo||Gains/
(losses)
Eooo|A&3&i
ly
101.2
&.'ooo| |---|---|---|---|---|---|---|---|---|---|---|---| ||E do
s ent P nd -9
S&udcnr Supporr Funds
Ac.demic Posrs
Il& nds
Lib«ry Funds|||ron&8
'7 936
&G|445
87.1|(n6)
(10&)
(B||(»i)
(395)
(1&||l,)70
'»4&0|n, GSG
20 61.0
87| ||Eadowm
t F nds - Exp
lubl
Hcyman-bionrsgc
efaccion
Dr Sourb (3/Rbs)
Lee Bcnefa«ion
Me
ury F nd (i/&rhs)
Building&
Funds
Card
ns R Gro
nds F nds
Spo rs Clubs Funds
Library Funds
Pier
reGagery
F nds
Academic Posrs Funds
Srudenr Supporr Funds
Carhedral
BcChorisrc
Supporr
F ndl
Bcnehccs Fends
Orher Funds
Gene«l
Endown&enr
Funds
Tor &Endo
t F
ds|||G0,396
)8«80
&4079
'2 939
G,x&8
596
&'I
3 569
&00
33 345
27,268
'3 994
13 544
&0,761
&00,508
G74,G)9|1«98
&,57&
&SG
&H
2&9
15
&79
21
1,&01
'l,I&2
7&5
974
&,148
17,156
3&,00 I|(6H)
(431)
(i6r)
(»7)
(&i)
(6)
0
(4B
(6)
Dso)
()11)
(rn)
(1G7)
(»I)
(4615&)
(7,67G)||(&,7&1)
(»'177)
(Iol)
(&67)
(D6)
(m)
b)
(M)
(14)
(8&9)
(709)
(»7)
(G67)
(yi)
(rr,nx)
(&8,497)|8,09}
&,071
&,89&
1,717
8»
Bo
4
48o
G&
OIG&
3 79'1
&,8&7
)rn
25}9
~3&2
90,'187||68»7
43,6I&
16093
r4,687
7,105
Gya
36
4,088
368
38,093
3»3)9
16,0&4
26,715
13,346
~455
7G4,75'7| ||Rsui«din
F
ds. P
Smdcnr Sappo
r Funds
i.ibr TF nds
Academic Posts Funds|n|nt|196
8
&3G
Gto||(r48)
(r)
(&m)
(4&r)||175
373
H9||0|21&
8
489
710| ||R«ui«din
om
Fu
d
- Expend.
Heyman. M
irr. Bcaef,
r m
D
Soud& (3/5th&)
Ice ganef&
ri
n
hiercury
F
nd (I/&du)
I& ildngs
Cardens R Grounds
Fu
d||bl|15&
1,»6
30&
34
!7
0||(t Do)
(7&G)
(37&)
(cur)
0
(1)
0||t.jll
& 077
401
I|||353
»507
334
32
0
3| ||Sports Clubs F nds
Libr
r& funds
P crurc G.I&cry Fund
Acadeinic Posrs Fund
Srudem Suppo
r Funds
Cwi&erlrsl BcChoris
r Supporr
Funds
Bcnegc i Funds
Orher Fonda
Sab-t
r &R«i l«di
co
(E*p ni. bl )|||7&
1
&,154
1,440
li
100
}47
5,9&&|8)
37
16
r88|(69)
0
(696)
(7»)
(&8&)
(U)
(isl)
(I, ot)||&S
G
739
7&5
357
'15
IS}
&,GBS||0|00
8
1,380
&,469
14
84
369
6,683| ||BR&dinge Funds
Gardens 8:Gr
unde Fund
Sp
rrs F nds
I.ibmry
Fu
Is
P
rare G
1&cr& Funds
S u dane Supporr Fund
C died 6R Chon tcr Suppor
Odle
Funds
8 b-total R
uict
d ia om
Tor&Rsri
& dl'
ds-Th|Fu
f nd
Ho|la
s|4,}6S
94
15
&1
&7
}Go
159
~29
I 574
&1,&&5|l1&
7
0
GI
&01
lo&
Glo
~78|()i)
(ci)
0
(»)
(»
(58)
(172)
i/Il
(&27)
(G,iog)||0
0
(4)
0
(4)
(6/)
12
(&i)
6,&91||0
0|4,469
Go
3
98
D
363
212
328
5,612
I),017| ||Resmc«l
him&a held by sobs|6,|||||||||| ||Tots(R
trict d F nds|||I'» Ij5|798|(6,ioB)||6, 92|||13,0&7| ## ## ## ## |RcsuictcdF
nd.|||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Resmcred income 5 nni|Perrnaiiem||In|arne||genemced|||from Perm||n|nc Endo|I nr nor spear|2nd||a st(able|For Fiiiu ccosa on rhe
rcsiricred||| ||||purpos|||ofrhc||cl, nry as||ind|cared m rhegroupcd
headinfi.||||||||| |Restri
ed income fro|Espcridablc||Itic me|||ger&eared|||From Experid|||ble Endo|mous
i ro I nor||poir ond .||.liable for hrrurc cosu of die||| |||||I ri«rcrl pu|||poses, pplicable||||ro|ctie endo|nlenr
Funds||||||| |Rmtricrcd
ncome fund|||A
oris
purposes|||lidsrion
oF risc||ol'gil'ra and donaaons
here b
b ncomc and capical can be used For rhe rcirnc cd
chari y as indimr J in itic grouped
tieadings.
harem|||||||||||| |D
ignatcd fund
D
gnared
Fund|||Unrmr
1 I I||icred Fumls alloca
hie fore pcndirur|||||d tiy Go crn ng Body f'or Futu
on chcHouse'sg
col purposes.||||e|co&ra as designarcd|||and
I
lore|arc not| |Thc Generd Unrcan«rcd
Funds||epreseni sccumula|d inco||e|porn|tb||House's. covines
nd orher s
ccs ths|||||||liable for rtie||gcncral purpos|s ol'&tie| |H usc.|||||||||||||||||||| |ANALYSIS OF NET ASSETS BETIVEEN FUNDS||||||||||||Un rcsrricrcd|||Rcsrncred|||El&to
'alen&|202| ||||||||||||||Funds|||Fund||Funds|Toml| ||||||||||||||E000|||f.'ooo||oooo|Dooo| |Tangible fIed assers
P opcr&y imes
nenrs
Other
m escmcats
Ner cur enc 1 r
r
I.ong rc m lish
I c cs
Pension
Eind
J loan|s sp pro|isions||||||||||10,5 D
D
1597
(4 873)
(10,010)
(8,7G4)
~10,550)||||4297
0
8,870
13,017||0
357i»9
501 928
0
(90,000)
0
7G9,757|14707
357,819
S04Sal
3947
(100,020)
(8,y64)
772,014| ||||||||||||||Unresrricred|||Resrricrcd||Endo
ne
r|707.1| ||||||||||||||Funds|||Funds||Funds|Tot
I| ||||||||||||||E000|||5000||fooo|S.'ooo| |T. g ble Ii» * Isacr
Prop
ny in esonc a
0 herl
csun
n&s
ific currenr
aer
Iong rerm lisbil aes
Pension
fund and loan swap p ovisions|||||||||||||11,175
0
1,4ll,i
4449
(10,000)
(9 Us)|||4, 169
0
D
7,9G6
0
0||3'16919
459 710
0
(90,000)|IR344
I&'49'9
461,204
11,415
(IOD,OOO)
(9 418)| ||||||||||||||(1,370)|||II,IU||G74,639|68»454| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were|Qualiged
acruarca p
rxlic lly vdue
ti e USS and OSPS defined
bcnegrs
s ng the 'p ojecced imir merhodk
embracing
a mt ket
slue appro ch. The resulnng
Ic els ofc nrrib
cion rake
cco or oF. ru.
1st u
pluses ordegcirs
n eacl
scheme
Ttie tin ncial assumpeons
acre
Icri ol From nlsrkeccondirions
pre 2 ling ~rttic
valuadon
dare. Thc rcsulcs ofrbc laresr accuarial
valuarions
uul rhc assumpoons
which
have chc mosr
igniFcant
etfecr on che esulu were| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||USS|OSPS|||||| |Dac
ofvalun
io
D rc
lusdon
r soles p blished|||||||||||}I/O)/10
30/09/sl
E8o.Gbn|)I/03/19
l9/06/10
E848m|||||| |V.Iue of liabiliricsl
Value o(sacra.
Funding
surplus
/ (de/ cic):|||||||||||EG6)bn
(f24.ibn)|67390
(En)m)|||||| |Prmopdanumpnons:
Discount
t(c||||||||.i N||b|Fucd
ntcretr
gilr yield om e|Cites +0.)% ro
2 'I)|||||| ||||||||||||pkls I/
175||||||| |Rar
01'ir crease in satanas
lists o/increme
in pensions||||||||c/cd|||/a
CPI 0.0)%|l(PI
A e l(PI/CPI|||||| |lvlurraliry
auumprio
s:
Malo cuuenrly
aged 61
Females c rrcnrly
aged 61
~
Males u rrenrly
aged 4)
Fen ales curre
rly aged 4)|||||||||||1) 91'll
15 I Yrs
ll 9 Yts
17) Yl'|2I 7 )'r
'14.4)vs
1).0 y 1
15.80y 1|||||| |F nding Ranos;
Technicd pro
isio s bsas
Sr,rutow Pension P orccnon
'0 I-
r' basis||I'und|bas s||||||||8)'Y
64%|87%
74%
6o%|||||| |Rccomlnendcd
onpl
ye 's con
(as % ofpemionahi
saisnesk|ihuo||n|rare|||||||1 I%m
xi.I
Iroll
01Oct 1011||||||| |E//ctrl
edareof
exr
alu
ion:|||||||||||)r/o)/2)|n /0 }/1l.|||||| |Th
discounr
rare (I' r sr I rarcsl|||Fot rhe||USS|alusdon|||ss||||||||| ## ## ## |inflan
n0 ppl
s Fron& rime ro rim (r o'y p.a. as|inflan
n0 ppl
s Fron& rime ro rim (r o'y p.a. as|inflan
n0 ppl
s Fron& rime ro rim (r o'y p.a. as|inflan
n0 ppl
s Fron& rime ro rim (r o'y p.a. as|inflan
n0 ppl
s Fron& rime ro rim (r o'y p.a. as|r u|his&eh so&9).|his&eh so&9).|his&eh so&9).|his&eh so&9).||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |For pcnsiun
incmases
hnkcd
ro inflt Io&,s peas&0&
descnbed
ago c,ad)oared
&oslo
For rhcdi(Fcrenr|||||inc
n&,|esw cur e &s consrrucrcd
based on mrher rhc
imum
and m nimum
anno
101 r a
s rlur||||RPI, CPI or rhc average
of' rhe l(PI and CPI
nflarmn
pply, and rhe Schtn&c AcruauvrbestmomareoFinfianon|||||||||uncs| |olariliry
as applies fram arne ro nmc.|||||||||||||||||||| |e.
The USS a 8 OSPS en&ployer c mrib|||mon|r rcs include
provisions
I'or rhe cosr offu«e accrual ofdchned|||||||I » lira|d*hcir conrribuoons|||||adminnr|ari|c| |pensee 0&d dclined co mburio
s.|||||||||||||||||||| |8
sid 'tyof
cm,
ial
I mion
&||ptio|||||||||||||||||| |Surpluse&or
dciicirs wh cb arise
a& Ii c re
assumpnons
us d &o mmsurc
rhc &chem||aluanons
Inbilines|||may
sr
m||mpacron
our below:||the Hou e's I'uru econr
budon|con nucmen|The||asiri||iciet rag. ding||rhepnncipal||| |USS Am&mpuons
Inioal
rc.re&i emcnt discounr
rare
Porr-rmrem
ncditcounr
are
CPI
Life c pens
cy|||||||morc p|USS Change
n Assumpnons
incr tee b o.ti%
rlccrmse b 0.11%
decreosc b o.r%
denr.
«&&nprion(reduce
rheadiuscmenc
ro Icbat
morrsli
cabl
b !%)|||||||Impacr mt USS lnbilmes
decrease b
8&. bn
nero, eb Es.gbn
decrease b
l&.jbn
ncrmse by Xr.tbn||||| |Rare
fmorml
ry|||||||morc prudenc
assumprion
(iacre sc the
norrdi
in
ovcmenrs ion -rc n rares|||a nasl
8||||||increase bi|Eo.6bn||| |OSPS /usum
uons:
Valuarim&
rate of &nrcresr
I(PI|||||||||OSPSChan
einAssum
r&uns
d «case b o.t&%
mcress
b o.sj%|||I||acco||OSPS rcchmcal
inmease b
E.ilm
inc&case b
/corn||iaons|| |D li itRmo
ryPlan|||||||||||||||||||| |In I nc
irh PRS rot pamg
aph 18 r&A,||h|Ho||h&||cogn ted||hah&I 9 For rhe conmbuom
1pay blc For rhe. N nl|||&lehur|||fu|dng plan|'I'I e prinriplc||| |a
mpooas 0 ed in rhcse calculanon|are||r, blcrl below.||||||||||||||||| ||||||||||USS|OSPS|||||||||| |fmish
Dare fo
Def&dr Rc o cry Pi,m
A emgc snB nun&ber
increase
A erage &nfl'slaty
inmeaw
A e age d sco nr rare o er rhc p
od
Pfl'ac& ofoI ' change
md
counc rare
EfFccrof
/
cite
cinsrag
rowrh|||||||||3&/0]138
&.00%
1.50%
&d&%
/151k
/jjGk|11/01/18
o.oo%
1IO/
I 19%
turk
t&Gpk|||||||||| ## ## ## ## |FINANCIAL INSTRUMENTS|FINANCIAL INSTRUMENTS|FINANCIAL INSTRUMENTS||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The Hou ehat cerrain financial
as&era
ar tr, nsacoon
value and s bsequ
ndy|||and finanaal
measured
ar||||||liabibties
amo
rise&I|||of a M
d rhar quahlj
co&r Ccrrain orher
fi||||s basic Bnancial
ancMI insmtn&cnrs|i srrumen
s Basic Enanad
insrrun&
e held ar hir
due,
th gains a|||||d|rr are i
ir ally rccogni&cd
losses bemg recognised|| |wirhin
incom
wl expendiru||||||||||||||||||||||||| |Tl
H
set
&
he fogo sing fin|nasl|||ins&ru&nw||||cs.|||||||||2021
G
p
Cooo||||101&
Eooo|Th|2022
H
6'ooo|loll
Tt&c House
Fooo| |F', n
I las
I mea
datl'irv|||I|||tlr*|gl||1&|r||&ofli||an i. lactivid|||50't P5|||&6&,104|||5497&9|50G,)98| |esrrnenrs||||||||||||||||||||||||| ||||||||||||||||||504 525|||4G&,&o4|||549 7&9|506,398| |Pi .n i lass t mess
dat.
orti
Cast& and castx equ
«lenr
T adc debrors
A
ounrtowedby
Hous
members
Arno mrs owed by Croup
ndcrrd&ings
Acc
ed i con&c
Orhc
debrors|||||d|o tt|||||||||||&M6x
2,931
&48
0
6,36&
119||||&5,&&2
' 555
I&4
0
881
&59||1,403
1,74&
&48
2679
G,)6&
I72.|4.N6
&,488
I&4
5)t
881
&44| ||||||||||||||||||23,031||||17,921||24,404|18,095| |Fi
rt ialliabiliti
tl.tar
6 bti
Notes p.yablc
Bank loses - including
mure
rhan
& )||||st
tr||n|tarn.|||*|red|t|o|&is 6 * I|||90,000
&0,000|||90,000
&0.000
1.1&6|||90,000
&0,000
I479|90,000
&0,000
&P94| |Trad
crcdicors
Amo&u&rs o
d ta House hlembers
College conmbu non
Accru. Is 2nd deterred
ncome||||||||||||||||||471
0|||41}
0
MN
0||471
0
M 66
I|4'I}
0
3,369
0| |Orh «eduorr||||||||||||||||||||||||| ||||||||||||||||||106,539|||&OG,}97|||&06,)IO|&05,886| |Fi&w
ialli, biliti
thnt
m|.||||d. tfai||||.I|et||||||||||||||| |t'a r value cosr oFloan s Ip||||||||||||||||||) U5|||G,)85||M)5|G,)85| |||||||||||||||||||3 SSS|||G,}85||3 555|G,)85| |G ines
Glows& on d&
loan
amp||m rhe||||ye|are||disclored|||on rhc||Face ol'rhc SOFA||||||||||| |RECONCILIATION
OF NET||INCOMING||||||RESOURCES TO NET CASI I||||||||FLOW FROM OPERATIONS|||||||202&.|101&| ||||||||||||||||||||||||Go p|Croup| ||||||||||||||||||||||||oooo|6000| |N tin*||||met.|||||||||||||||||||87,770|877P| |Elm nadonofno
-N erring
cmh||tlo|||||||||||||||||||||(18.&80)|(r9,596)| |esrm
nc income|||||||||||||||||||||||(9o,&87)|(88,)8ot| |Gai
in irwc onenr
En&lou
Ic&&td 010|||||||||||||||||||||||(),o&o)
'&,073|(&,417)
&,401| |Imcmrpay
blenn
ores|||||||||||||||||||||||5,787|4, &07| |Irwcsrmem
maaag
mem
uses|||||||||||||||||||||||9U|909| |Suq&lu
nle of htcd
seers|||||||||||||||||||||||0
(&3&)|(a&)| |(I creme)/Dec&case
m s
cl&|||||||||||||||||||||||(G,yod)|71| |(I crease}}Dccrc,sc in
I
lm&r&|||||||||||||||||||||||UA47|(Nol| |I crease/(Dccrc
se) ~
c liro
Incrc,n
mlin
cl2ccredr
Dcclc,
I I pf
is 0
Incwawl(D
esse)
I
pens
0
I')c re&as in loan mnp
re&sr c|I
sch|||||hliry|||||||||||||||||18
(50)
'&,1&6
(1,&l)0)|0
(&9)
(448)
(1 53&1| |N tml&p
i I dby(
di|)op||||.dng|||tivid|||||||||||||||(&8,938)|(r7.G50)| ## ## |55
|CONSOI IDATED STAT||FN||OF||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||L'nreslr c ed||Rcsrncred||Fn&lo&ved|201&| |||||||||||Funds|||Fundi||T tal| |||||||||Not *||Eooo|||F.'ooo|F.000|Oooo| |INCOME AND ENDOWMENTS|||FROM;||||||||||||| ||Ch riubl
ti ities.||||||||||||||| ||Teach&ng, relearcl
and rc idcnri.
Cad&cd al School
CarhMral||||I|||||G,439
1,0&4
48|||0&||2 0&4
&63
IS&| ||0th ra ding
I c n
Doaad* s.
d legs
I||||||||||||579|&,417|2,&rg| ||I
v
t
nar|||||||||84|||&.7|r9,485|&9696| |T t,|Torsi remm agocaccd ro
Orhc
iacome
lin
on&e|nco||e|||||34&1|ro,SG&
,918
2& 671|||G,lily
&7
7,366|(&7504)
3 4&9|h945
3145'7| |EXPENDITURE ON:|||||||||||||||| ||Teach ng, rrs arch. nrl rc
Orber &turin&ble am
irics
Csrhcdral
School
Ca hcdral||da&rial|||||||l7 871
1,IG&
1,&8&|||t 5&'7
61,
&
168||21,38&
Gsd
2,46&
2 449| ||G
dng k 6 .
Fundrs
ing
Trad
g expo
Inur
Endo
enr rn.
&gc|nc|corn|||||||Go)
609
50||||I957
, &01|Gos
609
4A07
&,401| |Tot|lnreresr
payable on
I
n
I .p
dit
r|no
s||||||||25,878|||I 399|I359|34,636| |N&I
o
l(Exp
dit
)bf|||g,|i||||||(x,xod)|||& 967|(«9 10)|(1DO)| |Ncr gs 0 on
i
es&mcnrs
(1. sie&)FGuni
n
ompkx
N t I
coil&||beano&linmm&|||||nr||ll, i}
2.G|«D'
~675)|||&,967|ltg,)80
86,4.1o|88,)go
t 53&
87,73a| |||||||||||461|||(Sto)|DS|| |N
Fu|tmo
tinf
d forth
8 b.1.& i
l&r nghr
I' r
trd||ye.|||||||(xn)
(1,W)|||i 127
n, oo8|86,8xg
587,82r|87,7ia
596,722| |F|nd
car I d for . d. t 3& J|ly||||||||(2 310)|||&1 135|674,639|68'1454| ||Seep g xxla
ct&eC molils«
I|||Sc,||mc|rul'imancial|Aai|csfo|rb cur«ryea
ro|hid|rhisn|r
comps .||| ## |PROPERTY INVEST&|G|EN|TS|FOR|TH|E Y|EA|R E|NDED U|JULY ao|s|r|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Go p|||||||||||||Agricuhural
Eooo||Com||nerci
I
E'ooo|Res denoal
2nd Orher
E'000|||202&
T
&U
f.'ooo| |Valuations
srarroFycar
A&ldiri
nand
imp ovemenrssr
Dispomls
Revaluaoon
g&ind(10&ace) ul &t&e||||osr
year|||||||||98,994
38,074
(1,96S)
I,'i&9|||u7, 4&&
I 97
(noa&)
7,110|||3&,914
0
4 '&99||138 319
4t,o44
(7 On)
22,558| |V
I *tin at cnd of ye|||||||||||||N5 D9|||&13 556|||36,013||304 9&8| |||||||||||||||||||Readcn nl|||sm I| |Th
H*
e|||||||||||||Agricuh
ral|||Conu|er«ial|and 0 her|||T IU| |||||||||||||||Eooo|||3'ooo||E'ooo||| |Vdu sr &on ar arm ofymr
Addirions
and
mpro
cmcnrs sr
D sposds
aluaoon g, nd(losses)
i
rbe||||cost
&ca&||||||||||71,819
&7,563
(1,9GS)
II,I&9|||u7,4&4
0970
(4 0&l)
7,2&3||3b924
0
4 099||'122. &67
am&33
(7 or})
22 557| |Vnl
&ion at e d of y||||||||||||||9S,66}|||&13,558||}G,o
&||2&gn44| |r&Fo mal
alum
ofl||eagle||Im|I commcrcialandresd«nn|||||lproper||es|asprcparedbyS&vgs(IIYP)
Unured,||||||am)
I&|lotr|| |Sccnore n for rhc currenc Nar||||nore|m|hich|rh s &mrc comps|||cs.|||||||||||| |PARENT AND SUBSIDIARY UNDERTAKINGS|||||||||FOR Tl&EYEAR|||ENDED &r JULYson|||||||||| |Tt&c rea&hs and th
res||arran&I||}lbili ics||oF|I|pa|nr and subs&daric||I|che|pm& year
nded||&r|July|lair||||| ||||||||||||||Th|Hour|Ct&rnr Chu ch|||Chrisr Church|||Thomas| |||||||||||||||||(Evcsl, m)||(D|venrry)||Wol
y| |||||||||||||||||l.im red||}.imi ed|||P operry| |||||||||||||||5000|||Eooo||f.'ooo||Eooo| |||||||||||||||31,&96|||||||D| |ome
F.pend
ure
D aarionro
rh
tdou*undmWF&ad||||||||||||||(34 29S)
0|||(1)
0||(4)
0||(lo)
0| |Resulr
Fcr rhe year||||||||||||||(1,&01)|||||(4)||23| |'I
nl seers
'I'orat 1abil ues||||||||||||||783.044
(roo,ln)|||In}
(5)||I,&85
(4)||25,06G
(l,o&8)| |Nc& F nds a& rile
nd ofyear||||||||||||||68I.,792.|||9S||I,IS&||14,0&8| ||||||||||||||||W kFm
iag|||Chrac C:la&rch|||Ch isr CI 0 ch| |||||||||||||||||||Dc eiopn
ms|||0&ford| |||||||||||||||||||t.i n rcd|||Tradi
g| ||||||||||||||||||f.000||5'ooo||Eooo| ||||||||||||||||||42||||&8}| |In om|||||||||||||||||(GG)||||(NG)| |Elpcndru
&|||||||||||||||||0||||0| |Don, aon co rhc H osc
ede||||EFr a d|||||||||||||||||| |lte&uir Fo
rhe &car|||||||||||||||||(re)|||0|(D)| |'I'
ml esse s
Torsi I&abd rim|||||||||||||||||3,285
(I 035)||||164
(337)| |Nec F&nds .r rhe cnd|r|Fy|I||||||||||||||'1,2in|||0|(U)| |5enorc&cfn
chen||renrycarrmr|||r|vhici||rhi|note«ompwcs||||||||||||| ## |STATEMENT Of INVESTMENT TOTAI. RETURN FOR TH|STATEMENT Of INVESTMENT TOTAI. RETURN FOR TH|STATEMENT Of INVESTMENT TOTAI. RETURN FOR TH|E YEAR FNDED D JUL|E YEAR FNDED D JUL|E YEAR FNDED D JUL|E YEAR FNDED D JUL|Y soar|Y soar||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The Trustees ht
adopted
a duly aurhori
cd p lic) ofroral
crurn
rerum
ro be appl cd s income
is calcu)ared
m 315% (xoxo: 3 x)'lb)
pmceding
h c years. Thc prescc ed (Fro en)
slur of'rhe invcsrol|||accourn
ng For rhe House's
(plus cosu) of rhe
~verage
ndo
nrem mpiral
eprcsc||||mvesrmenr
ot'rhc year
0irs
pen||rerurns
«rh elFect fmmr
cnd vdues of hc relevanr
marker
tine« toot roperher|||August soot The uwmrme
mvestmems
in caclt oF rhe
I a))subsequent||r| |utdo
motrs vain
rl sr dare oFg I'I||||||||||||||| |||||||I' rnwnenrE|||do|ent||Fnpendable||Told| |||||||||Unapplied||||Endo
mene|End|nts| ||||||Itl st lof|||Torsi||||||| ||||||ltwescmenr
Eooo|||R rum
f,'ooo|||Total
f,'ooo|f.'ooo||6'000| |Artb
8 gin
I goftb y.
Grii contponcnr ofrhe pcrmancltr
endo
me
Unapplied
to«1
ecurn
Expendable
endowntenr
Tot )End
wm
ts||||||I),849
13,849||0,3G7
10,3G7|||xdm 6
13,849
0,3G7|563,605
587,Sax
13,849
Io,)67
~63,605~6,60||| |Mu
nuintl
r p rtingpe
I dt|||||||||||385|1,041||l,ax7| |Gift ofeltdowntenc
1 nds
lnws ntear
cram. rom) invcsunc
r income
hwesrmenr
rerum.
r dised, nd un ca)is«i gains and)ones
Iws
Irwcsrme
r ntwtagernent
cosrs
Orher
rran fc s
Tom l|||||||||815
3 G9'
(tt4)
61
4 34)||815
),G91
R*a)
61
4,718|18,681
84,689
(54E)
317
999)4
19,49G
88,)go
(5 359)
~78
104,}t'!||| |Un
pphed
rara)
erum allo trnl to income
in rhc rcporuag
Expendable
endo
mencs trtnsfe
cd to Income
Nt
o
ent
in
p rd gp
lod||peri|d|||0
385|||(674)
(67I)
3,669||(674)
0
(674)
4,054|(16,1130)
~(IG,lt 0)
SxnG4||(17504)
0
(ry,tos)
86,818| |As
nd ofrh
repo ting p rinds
Gtfr componear ofrhe pcrmanenr
crtdowmem||||||IO134|||14,036||14,134
tl,o)6|||14IN
1 103G| |Uoapplied
coral rcr
rn||||||||||||646,369||G46,569| |F.pendablc endo
ntenr
Tot
IEnd*»t||||||tan34|||11,03G||a8,07o|64G669|67R639|| |See now
15 fo rite currou year nore ro wh|ch ch s Ilare c|par||||||||||||| ## |ANALYSIS OFTkIE MOVEMENT ON|FUNDS|FOR THE YEAR EN|DED p )ULYco|at|||| |---|---|---|---|---|---|---|---| |||AI I A gttsl
1010
5.'ooo|Income
Eooo|Espc d'cure
3.000|IIloslcr
Fooo|G. nsl
(lones)
6'000|ly
anil
8'ooo| |Endo
e t F nds - Pere m nt
Srude
ISupporr
Fu
ds
Acldu
c Po rs Funds
Librar& Funds||8,73r
5,418
67|&I3
GS4
2|(8I)
&mt)
(r)|(147)
(&64)
(2)|1642
2,&40
Io|Iom& 8
r7,93G
76| |Endo
tp
ds-E*pe
d bl
Hey nan-Ivlorirr.
Benehcriotl
D Snurh
(&/&rhs)
Le
Bene&a rion
Mercury
Fund (I/yrhs)
Buildings
Funds
Gardens
Sr Gro
nds Funds
Sporrs Clubs Punds
I.brary Funds
Piuure Gagcg I'unds
Acsdcntic Posrs Funds
Smdenr Supporr Funds
Cathedral
Iu Chorisrer
Supporr
Fu ds
Dcnchccs F nds
Orher Funds
General Endo vmem Funds
Tots)E do
t F nds||P 79'
U,69I
tu&94
rr,&08
5 470
5'I'I
17
6
4&8
18,967
23,501
fr,9I7
20,578
9 '99
~&4,685
587 Blt|l,748
I.I0I
4ID
)75
IBI
l7
2
105
I4
r,o&G
,061
69G
G81
PI
0 954
~20|(ngt)
(302)
(II3)
B03)
(50)
B)
0
(28)
(4)
(16i)
(lm)
(roy)
(r87)
(84)
~(&,IS )
(5 H9)|(I \89)
(r,ooo)
(&U)
hno)
(IG4)
(IG)
(I)
(91)
(D)
(777)
&6M)
(»6&
(619)
(&n&
~(10,50 )
(ry, rlG)|7,917
0990
r,SGI
r,G98
Su
78
4
468
65
4,&G4
3 570
1,804
3,090
l,)84
~52 61
~88, So|Go,&FG
38,480
14079
I2,938
6,158
596
32
3 569
IDD
3& 345
27P68
1%994
13544
lo+Gs
~400,50
~674,63| |Resniu din
eF nds- Perm,
ent
Srudentguppo
r Funds
).ibrary Funds
Acadcm cPosn Iru
ds
S b.r*rsl R
Dieted
I con
(P
n|1)|170
6
&58|1|(tio)
0
(173)
(4H)|'71
350
P7||196
8
n&6
640| |R«t
i lcd I come F nd
~ E*p nd bl
Heymandl
0 Bc a(action
Dr South B/&rbs)
I c.Bcrtefacrion
Me cuu Fund
(&/yrhs)
ikild
ngs
Gardens
gt Gro ndsF
us
I
Spo 0Clubs Funds
I,bur&F
nds
Piccure Gagery Funds
Amrlemi
Posrs Funris
Scudenrguppon
I'unde
Carh
dui Sc Chorisrcr Supporr
F nd.
Ben fices Funds
Odl
Fllrlrls
Sub-rota)R
tri
r 6 i I onl
(E p ndsbl )||104
t,yoB
152.
69
2
45
r6
1,081
I,PB
19
Iog
174
I,o&S|0
0
0
0
0
0
3
0
P
76
0
0
~t&|(I.&41)
(59&)
fim)
(&H)
(I)
0
(GS)
0
(554)
(Got)
(&tt)
(9)
~(6)
~(t.&0 )|I,589
l.uuo
37:5
)4D
5
2
9I
G
674
G37
P6
23
r6S
5,115|0
0|151
a,r&6
30&
34
27
71
21
2254
I,n40
24
IOD
~3
~ll| |ANALYSIS OF MOVEMENTS|ON FU|NDS|CO|NTINUED||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||Ar|r Aug
sr
1,010
Eooo|in conte
f.'0oo|Llp ndirurc
3000|Transfers
Eooo|Gtlruf
(losses)
f.'ooo|Arjrl
ly
2021
6000| |E
id ngsFunds
Gard«s rr Grounds
I' nd|||||4 325|33
91|(24)
0
0|0||4,368
94
25| |Sporrs Funds
I.brary Funds
P crure Gageu Funds
Academ c Posts Funds
Sr dencSuppon
Funds
Ctrhed 6 Br Choriscc
Supp
r
Orher Funds
S b-tot ig
tier di
o
f
Tot
I R«r
I t d F nds|Fu
ds
nd|||l37
51
0
rgy
302
~4}G
rt,oog||rG
151
loa
65
~GG
717|(24)
(I)
0
(D)
(155)
(91)
(5 399)|&6)
0
0
(4)
0
47
~57 9|0|113
47
0
}Gt
16o
~29
yu77
12. 135| |Un
ti«dP
nd
Lleslg
mcd (unde
Gene d funds
Delin dbcnclir pen
on s hcme
Loan& s mp bi
mlue rese
e|rcsenc||||7H
8.48O
(5 439)
(7,9r6)|78o
99}l
0|(»4)
(».Bnt)
448
0|205
ll,rls|0
0
0
l,5ll|I,GSo
(2991)
(6385)| |TotslUn
uictedP
rd -TlcHO||||||10,7rr|(13,668)|ll,517|4531|(tau)| |Desig
ared f nds- 1 bsid,
im
Gem elfu
ds-rubndi
cs
ltevaluaaon
elerve -arbsiditrics||||||0
96
0|0
(Ilo)
0|||0
(88)| |Tnt 1Un
tri«dp
d -s
Torsl Un «t i ted'
ds-G|b id.
p||||16
(1,107)|10,8oy|(110)
~(2,878)|ll,}17|0
~t, }l|(88)
(2,}so)| |Ter.)F
ds|||||59G,71r|3u457|h4.636)|0|89.9u|G84,.554| |Se
nore ro (or ri
urr
r year|nor
0|lu|h rhi|noce cnmpar«|||||||