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2024-07-31-accounts

Brasenose College Report of the Auditor Year ended 31 July 2024

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity's and the group's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity and the group for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation, Health and Safety and Taxation legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, sample testing of income transactions to supporting documentation and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non­ compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP Statutory Auditor

Reading

20 November 2024

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor ofa company under section 1212 of the Companies Act 2006.

Freehold properties, including major extensions 50 years
Leasehold properties 50 years or period of lease if shorter
Building improvements 50 years or period of lease if shorter
Plant and Machinery 20 years
Computer Systems and Equipment 4 years

Unrestricted Restricted Endowed 2024 2023
Funds Funds Funds Total Total
Notes £'000 £'000 £'000 £•000 £'000
INCOME AND ENDOWMENTS FROM:
Charitable activities:
Teaching, research and residential 1 7,846 7,846 6,667
Other Trading Income 3 436 436 39
Donations and legacies 2 676 730 656 2,062 1,679
Investments
Investment income 4 50 70 7,125 7,245 9,212
Total return allocated to income 14 6,036 (59) (5,977)
Other income 5 554 554 681
Total income 15,598 741 1,804 18,143 18,278
EXPENDITURE ON:
Charitable activities:
Teaching, research and residential 11,757 1,256 13,013 14,273
Generating funds:
Fundraising 387 387 614
Trading expenditure 108 108 189
Investment management costs 12 1,160 1,172 890
Total Expenditure 12,252 1,268 T,160- 14,680 15,966
Net Income (Expenditure) before gains 3,346 (527) 644 3,463 2,312
Net gains on investments 11,12,19 71 100 10,195 10,366 (9,868)
Net Income/fExpenditure) 3,417 (427) 10,839 13,829 (7,556)
Transfers between funds 19 (532) 532
Net movement In funds for the year 2,885 105 10,839 13,829 (7,556)
Fund balances brought forward 1st August 2023 19 26,029 4,219 183,690 213,938 221,494
Funds carried forward at 31 July2024 28,914 4,324 194,529 227,767 213,938

2024 2023 2024 2023
Group Group College College
Notes £•000 £'000 £•000 £'000
FIXED ASSETS
Tangible assets 10 39,904 40,226 39,904 40,226
Property investments 11 55,090 53,160 55,090 53,160
Other Investments 12 146,900 141,768 146,900 141,768
Total Fixed Assets 241,894 235,154 241,894 235,154
CURRENT ASSETS
Stocks 335 329 335 329
Debtors 15 4,608 4,768 4,485 4,544
Cash at bank and in hand 13,350 9,659 13,163 9,023
Total Current Assets 18,293 14,756 17,983 13,896
LIABILITIES
Creditors: Amounts falling due within one year 16 3,420 4,641 3,253 4,103
NET CURRENT ASSETS 14,873 10,115 14,730 9,793
TOTAL ASSETS LESS CURRENT LIABILITIES 256,767 245,269 256,624 244,947
CREDITORS: falling due after more than one year 17 29,000 29,000 29,000 29,000
NET ASSETS BEFORE PENSION ASSET OR LIABILITl' 227,767 216,269 227,624 215,947
Defined benefit pension scheme liability 23 2,331 2,331
TOTAL NET ASSETS 227,767 213,938 227,624 213,616
FUNDS OF THE COLLEGE 19
Endowment funds 194,529 183,690 194,529 183,690
Restricted funds 4,324 4,219 4,324 4,219
Unrestricted funds
Designated funds 5,350 3,611 5,350 3,611
General funds 23,564 24,749 23,421 24,427
Pension reserve 23 (2,331) (2,331)
21 227,767 213,938 227,624 213,616

2024 2023
Notes £'000 £'000
Net cash used in operating activities 26 (6,478) (3,850)
Cash flows from investing activities
Dividends, interest and rents from investments 7,245 9,212
Finance costs paid (4) (2)
Proceeds from the sale of property, plant and equipment 22
Purchase of property, plant and equipment (1,031) (6,507)
Capital receipts in relation to Investment Land & Property 125
Purchase of investment Land & Property (313)
Proceeds from sale of investments 11,242 8,303
Purchase of investments (8,064) (11,899)
Net cash used in investing activities 9,513 (1,184)
Cash flows from financing activities
Repayments of borrowing
Cash Inflows from new borrowing
Receipt of endowment 656 557
Net cash provided by financing activities 656 557
Change in cash and cash equivalents In the reporting period 3,691 (4,477)
Cash and cash equivalents at the beginning of the reporting period 9,659 14,136
Change In cash and cash equivalents due to exchange rate movements
Cash and cash equivalents at the end of the reporting period 27 13,350 9,659

E FROM CHARITABLE ACTIVITIES
2024 2023
Teaching, Research and Residential £•000 £•000
Unrestricted funds
Tuition fees - UK and ED students 1,616 1.653
Tuition fees - Overseas students 1,297 1,160
Other fees 95 79
Other HEFCE support 158 169
Other academic income 179 194
College residential income 4,501 3.412
Total income from charitable activities 7,846 6,667

ATIONS AND LEGACIES
2024 2023
£'000 £•000
Donations and Legacies
Unrestricted funds 676 767
Restricted funds 730 355
Endowed funds 656 557
2,062 1,679
INCOME FROM OTHER TRADING ACTIVITIES
2024 2023
£'000 £'000
Subsidiary company trading income 453 6,303
Other trading income (17) (6,264)
436 39
INVESTMENT INCOME
2024 2023
£'000 £•000
Unrestricted funds
Agricultural rent 1
Commercial rent 13 5
Other property income 1
Equity dividends 9 5
Income from fixed interest stocks
Interest on fixed term deposits and cash
Other investment income 24
Bank interest 2
Other interest 10
~50 20
Restricted funds
Agricultural rent 2 2
Commercial rent 18 21
Other property income 1
Equity dividends 13 24
Income from fixed interest stocks
Interest on fixed term deposits and cash
Other investment income 33 42
Bank Interest 3 0
Other interest 1
7o '90
Endowed funds
Agricultural rent 171 152
Commercia! rent 1,858 2,124
Other property income 83 105
Equity dividends 1,330 2,401
Income from fixed interest stocks
Interest on fixed term deposits and cash 28
Other investment income 3,356 4,292
Bank interest 310
Other interest 19
7,125 9.102
Total Investment income 7,246 9,212
Other Income 2024 2023
£'000 £•000
Other Income 554 681
"ssf 681
ANALYSIS OF EXPENDITURE
2024 2023
£'000 £'000
Charitable expenditure
Direct staff costs allocated to:
Teaching, research and residential
Other direct costs allocated to;
Teaching, research and residential 4,954
Support and governance costs allocated to:
Teaching, research and residential
Total charitable expenditure
2024 2023
Expenditure on generating funds £'000 £'000
Direct staff costs allocated to:
FundraisEng
Trading expenditure
Investment management costs
Other direct costs allocated to:
Fundraising 160 190
Trading expenditure 192 179
Investment management costs 1,160 881
Support and governance costs allocated to:
Fundraising 67 59
Trading expenditure (37) 10
Investment management costs 12 9
Total expenditure on raising funds 1,667 1,693
Total expenditure 14,680 15,966

Teaching
Generating and 2024
Funds Research Total
2024 £'000 £'000 £•000
Financial administration (345) 1,357 1,012
Pension Provision (93) (2,238) (2,331)
Domestic administration 11 410 421
Investment Management 17 17
Human resources 5 458 463
IT 45 561 606
Depreciation 1,353 1,353
Bank interest payable 626 826
Other finance charges
Governance costs 67 75
~(352)~ 2,594 2,242
Teaching
Generating and 2023
Funds Research Total
2023 E'OOO E'OOO £'000
Financjaf administration 150 680 830
Domestic administration 13 423 436
Investment Management 16 16
Human resources 6 475 481
IT 50 410 460
Depreciation 963 963
Bank Interest payable 622 622
Governance costs 3 31 34
'238' 3,604 -3,842-
Financial and domestic administration, FT and human resources costs are attributed according to the estimated staff time spent on each activity.
Depreciation costs and profit or loss on disposal of fixed assets are attributed according to the use made of the underlying assets.
Interest and other finance charges are attributed according to the purpose of the related financing.
Governance costs are allocated according to the estimated audit workload.
Financial administration costs include a write back of pension provision of £2.3M In the year (see Note 23) 2024 2023
£'000 £'000
Governance costs comprise:
Auditor's remuneration - audit sen/ices 65
Auditor's remuneration - assurance services other than audit 2
Auditor's remuneration - tax advisory services
Auditor's remuneration - other services
Legal and other fees on constilutional matters
Other governance costs
76 34
£'000 £'000
During the year the College funded research awards and bursaries to students from Its restricted and unrestricted fund as follows;
Unrestricted funds
Grants to individuals:
Scholarships, prizes and grants 137 205
Bursaries and hardship awards 29 120
Graduate SEudentships 178 216
Total unrestricted 344 641
Restricted funds
Grants to Individuals:
Scholarships, prizes and grants 191 54
Bursaries and hardship awards 71 6
Graduate Studentships 332 244
Total restricted 594 304
Total grants and awards 938 846

STAFF COSTS
2024 2023
The aggregate staff costs for the year were as follows. £'000 £'000
Salaries and wages 6,010 5.439
Sociaf security costs 509 435
Pension costs;
Defined benefit schemes 653 924
Defined contribution schemes 194 279
Other benefits
Pension deficit liability movement (2,331)
6,035 7,077
The average number of employess of the College, Including casual staff, excluding Trustees,
was as foliows.
Tuition and research (ex Trustees) 67 63
Tuition and research (ex Trustees) - Casual 14 66
College residentia! 24 9
College residential - casual 29 21
Fundraising 6 5
Fundraising - casual 3 29
Support 92 33
Support - casual 23 35
Total 258 261
The average number of employed College Trustees during the year was as follows. 2024
APTF-U 24 23
APTF-C 10 15
Other 5 4
Tolal 39 42
within the following bands was:
2024 2023
£60,001-£70.000 2
£70.001-£80.000 4 2
The number of the above employees with retirement benefits accruing was as follows:
tn defined benefits schemes
In defined contribution schemes
£'000 £'000
The College contributions to defined contribution pension schemes totalled 58 54
TANGIBLE FIXED ASSETS
Group Freehold Plant and Fixtures,
fand and machinery fittings and
buildings equipment Total
£'000 £'000 £'000 £•000
Cost
Al start of year 50,966 2,868 2.093 65,927
Asset Brought into use
Additions 1,027 4 1,031
Disposals 0
Assets Held for Sale
At end of year 61,993 2,868 2,097 66,958
Depreciation and Impairment
At start of year 13.485 864 1,352 16,701
Depreciation charge for the year 976 150 227 1,363
Depreciation on disposals
Impairment
At end of year 14,461 1,014 1,579 17,054
Net book value
At end of year 37,532 1,854 518 39,904
At start of year 37,481 2,004 741 40,226
College Freehold Plant and Fixtures,
land and machinery fittings and
buildings equipment Total
£•000 £•000 £•000 £'000
Cost
At start of year 50.966 2.093 65,927
Additions 1,027 4 1,031
Disposals
At end of year 51,993 2,868 2,097 56,958
Depreciation and Impairment
At start of year 13,485 1,352 15,701
Charge for Ihe year -976~ ^50~ ~227~ 1.353
On disposals
Impairment
At end of year 14,46-T W14 1.579 17,064
Net book value
At end of year 37,632 1.864 618 39.904
At start of year 37,481 2,004 741 40,226

Group and College
Commercial
(held for
AgricuituraJ Commercial Sale) Other Total Total
£'000 £'000 £'000 £'000 £•000 £'000
Valuation at start of year 18,933 31,662 2.565 53,160 56,287
Additions and improvements at cost / capital ex 313
Disposals net proceeds / capita! receipts (125) (125)
Revaluation gains / (losses) In the year 1.783 343 (71) 2,056 (3,420)
Held for Sale (4,240) 4,240
Valuation at end of year 20,591 27,765 4.240 2.494 66,090 53,160

AH investments are he!d at fair value. 2024 2023
£'000 £'000
Group investments
Valuation at start of year 141,768 144,620
New money invested 8,064 11,899
Amounts withdrawn (11,242) (8,303)
Reinvested income
Investment management fees
Increase/ (Decrease) in value of investments 8,310 (6,448)
Group investments at end of year 146.900 141,768
Group Investments comprise: Held outside Held In 2023 Held outside Held in 2024
the UK the UK Total the UK the UK Total
£'000 £'000 £'000 E'OOO E'OOO £'000
Equity investments 50,382 39,923 90,305 36,889 55.423 92,312
Gtoba! multi-asset funds 5,083 24.697 29.780 11,107 24,057 35,164
Property funds 6.889 6,889 6.309 6.309
Fixed interest stocks
Alternative and other investments 14,794 14,794
Fixed term deposits and cash
Total group investments 86,303 141.768 146,900

Brasenose Brasenose
College Limited
£'000 £'000
Income 18,317 448
Expenditure (14,510) (259)
Donation to College under gift aid 385 (385)
Result for the year 4,192 (186)
Total assets 2S6.624 377
Total ttabilities (29,000) (170)
Net funds at the end of year 227,624 ~2W7~

Permanent Endowment Expendable Total
Unapplied Endowment Endowments
Trust for Total
Investment Return Total
£•000 £'000 £'000 £'000 £'000
At the beginning of the year:
Gift component of the permanent endowment 54.907 54,907
Unapplied total return 100,179 100,179
Expendable endowment 28.604 28,604
Total Endowments 54,907 100,179 155.086 28,604 183,690
Movements In the reporting period:
Gift of endowment funds 651
Investment return: totai investment income 6,008 6,008 1,117 7,125
Investment return: realised and unrealised gains and losses 8.627 8,627 1.568 10,195
less: Investment management costs (978) (978) (182) (1,160)
Total ^ 13,657 ^i3,662~ 3.154 16.816
Unapplied total return allocated to income in the reporting period
Transfers between funds (5,058) (5,058) (919) (5,977)
Total Transfer between funds (5,058) (5,058) (919) ~(sWn
Net movements in reporting period 5 8,599 8,604 ~2,235~ 10.839
At end of the reporting period:
Gift component of the permanent endowment 54,912 54.912 54.912
Unapplled total return 108,778 108,778 108.778
Expendable endowment 30,839 30,839
Total Endowments 64.912 108,778 163,690 30,839 194,629
15 DEBTORS 2024 2023 2024 2023
Group Group College College
£•000 £'000 £'000 £•000
Amounts falling due within one year:
Trade debtors 423 497 334 426
Amounts owed by College members 695 736 695 736
Amounts owed by Group undertakings
Loans repayabie within one year 13 12 13 12
Prepayments and accmed income 895 1,382 860 1,199
Other debtors 305 283 306 313
Amounts falling due after more than one year:
Amounts owed by College members 2,277 1,858 2,277
4.608 4.768 4,485 4.S44
CREDITORS: falling due within one year 2024 2023 2024 2023
Group Group College College
£'000 £•000 £•000 £'000
Bank overdrafts
Bank loans
Obligations under finance leases
Trade creditors 305 871 293 1.178
Amounts owed to Coitege Members 127 489 127 489
Amounts owed to Group undertakings
Taxation and social security 296 167 235 155
College contribution 161 151 161 151
Accruais and deferred income 1,591 2,216 1.497 1.383
Other creditors 940 747 940 747
3,420 -4,64T~ 3,263 4,103
CREDITORS: falling due after more than one year 2024 2023 2024 2023
Group Group College College
£'000 £•000 £'000 £'000
Bank loans
Obligations under finance leases
Other creditors
29,000 29.000 29,000 29,000

As at 31 As at 31st
July 2023 Incoming Resources July 2024
resources expended Transfers Gains
Endowment - Permanent £'000 £'000 £'000 £'000 £'000 £'000
Permanent Endowment Fund 127,086 4,906 (792) (4,133) 7.053 134.120
Brasenose income Capita) Fund (Perm) 11.361 442 (73) (371) 633 11,992
Hu!me Capita! Fund 8.319 323 (54) (271) 462 8,779
Tutorial/Classics Fellowship Capital Fund 2,268 90 (15) (74) 126 2.395
Germalne Capital Fund 1,368 53 (9) (45) 76 1.443
Undergraduate Bursary Capita) Fund 900 37 (6) (29) 50 952
Lucas Bequest Capital Fund 704 27 (5) (23) 39 742
Kwai Cheong Graduate Studentship Fund 502 19 (3) (16) 28 530
Gordon On- Bursary 402 16 (3) (13) 22 424
Sir Christopher Wates Honour Bursary 243 9 (2) (8) 13 255
Jeffery Bequest (Mod Hist) Capita) Fund 213 11 (2) (9) 15 228
The George Walker Honour Bursary 152 6 (1) (5) 8 160
Mark Veit Honour Bursary 152 6 (D (5) 8 160
Profumo Capiial Fund 150 6 (1) (S) 8 158
Mosse Honour Bursary 132 6 (1) (4) 7 140
Peter Sinclair Honour Bursary 123 5 (1) (4) 7 130
David Watts Honour Bursary 122 5 (1) w 7 129
Peter Sands Honour Bursary 121 5 (1) (4) 7 128
The Dennot (1951) & Gerard (1954) Dunphy 121 5 (1) (4) 7 128
The Turner Famiiy Honour Bursary 121 5 (D (4) 7 128
The Folkman Honour Bursary 115 4 (1) w 6 120
1974Bursaries(CO-ED) 114 4 (1) (4) 6 119
The Michae! May Honour Bursary 97 4 (D (3) 5 102
The KCM Honour Bursary 73 3 (2) 4 78
Rector of Didcot Capilal Fund 50 2 (2) 3 53
Reynolds Prize Capital Fund 16 12 (2) (10) 17 33
Bride Mayor Honour Bursary 30 1 (1) 2 32
Poor of Dldcot Capital Fund 18 1 (1) 1 19
Cox Trust Capital Fund (1518) g g
Mortey Trust Capital Fund (1515) 5 5
Grand Total 155,086 6,013 TsTsy (6,058) 8,627 163.690
As at 31 As at 31st
July 2023 Incoming Resources July 2024
resources expended Transfers Gains
Endowment - Exendable £'000 £'000 £'000 £'000 £'000 £'000
Brasenose Income Capital Fund (Expendable) 6,186 239 (39) (199) 343 6,530
Barton Economics Fellowship Capital Fund 2.331 91 (15) (76) 130 2,461
Garrick Law Fellowship Capital Fund 2,217 86 (14) (72) 123 2,340
Jeffrey Cheah Fund-Capitai Fund - Feilowsshif
I		 2,016 80 (13) (67) 114 2,130
Politics Fellowship Capital Fund 1,885 73 (12) (61) 105 1,990
Hector Filling Capital Fund 1.860 72 (12) (61) 104 1,963
Flddlan Capital Fund 1,702 66 (11) (55) 95 1,797
Roger Thomas Bequest Cap Fund 1,548 60 (10) (50) 86 1,634
Bedford Capital Fund 1,395 53 (9) (45) 76 1.470
Kyprianou Grad Stud Capital Fund 1.086 42 (7) (35) 60 1.146
Curran Capital Fund 907 35 (6) (30) 50 956
Biochemistry 739 191 (5) (24) 40 941
The Heffernan Sinclair Scholarship Fund 688 164 (4) (22) 38 864
Taha Brown Scholarship 557 286 (2) (9) 15 847
John Davies Endowment Fund 707 27 (S) (23) 39 745
Cashmore CapHai Fund 559 22 (4) (18) 31 590
Jeffrey Cheah Fund-Capital Fund - Graduate : 442 18 (3) (15) 25 467
The Guy Scholarship 294 11 (2) (9) 16 310
The Ward Jones Bursaries 292 10 (2) (8) 14 306
Access & Outreach Capital Fund 255 15 (2) (8) 13 273
Expendable Endowment Fund 224 29 (1) f) 12 257
Stafford Bequest Capital Fund 202 8 (D (7) 11 213
Barry Nicholas Capital Fund 185 7 (1) (6) 10 185
BNC Australia Scholarship Capital Fund 111 5 (1) (4) 6 117
Benefactions Capita! Fund 110 4 (1) (4) 6 115
Holroyd Collieu Noel Hall Capital Fund 77 3 (3) 4 81
FC Ruffett 70 70
Thomas & Jones Capital Fund 29 1 m 2 31
Grand Total 28,604 1,768 (182) (919) 1,588 30,839
Total Endowment Funds - Group 183,690 7,781 (1,160) (6,977) 10,195 194,529
At 31 July (ncoming Resources Gains At 31 July
2023 resources expended Transfers 2024
£'000 £'000 £'000 £'000 £'000 £'000
Restricted Funds
Fairbum Legacy 1,691 63 (6) (54) 92 1.786
Fiddian Income Fund 510 (3) 507
The Hutme Trust New FY24 455 7 462
Chapel Organ 799 (451) 348
Deferred Capital Fund 231 231
The Crole Legacy 150 6 (D (5) 8 158
Archive Fund 113 113
The Prindpats Conversations 95 95
Peter Moores Chinese Bus Stud Fund 31 46 77
Politics Fellowship Income Fund 57 (58) 61 60
Lucas Bequest Income Fund 48 48
Jeffery Bequest (Modem History) income Fund 48 (6) 42
Frewin Annex Developmet 38 38
Fairbum Legacy - tncome Fund 17 (36) 54 35
Chapel and Choir 29 1 30
Donation for Jewish Country House Project 39 (9) 30
Germalne Income Fund 57 (33) 24
John Davies End Fund 19 19
Stafford Bequest Income Fund 19 19
Akers Jones Gift 18 18
The Ward Jones & The Guy Scholarship 17 17
Travel Grants - care leavers 17 17
Rector of Dldcot Income Fund 16 16
Charles Skey 15 15
Kyprianou Grad Stud Income Fund 37 (26) 11
Robinson - Ukranlan Students displaced by WE 24 (11) 13
Ukranian Student 20 5 (15) 10
The Croie Legacy - tncome fund 5 5 10
The Fergus Miller Memorial Fund 1 9
TaHa Brown Graduate Studentship to support i g
Academic Excellence Annual Fund 7 7
Profumo Income Fund (1) 6
The Chaplains Fund 7
Access Programme 8 (2) 6
Poor of Didcot Income Fund 6
Major Gifts Restricted Cheetham 1 5
North Yorkshire Outreach (1) 4
Cox Trust Income Fund 4
H.C.L. Noel Hall Income Fund (4) 3 6
Library and Archives Annual Fund 4 4
Modem Linguists Fund ('I) 3
Mortey Trust Income Fund 2
George WalRer Bursary Fund 1
Barry Nicholas Income Fund (4) 2 (1)
Barton Economics Fellowship Inc Fund (76)
Oubs and Societies (1)
Curran Income Fund (30) 30
GarricR law Income Fund (72) 72
Hector Piliing tncome Fund (77) 30 (D
Heffeman Sindair Income Fund (29) 29
Jeffrey Cheah Fund- Graduate Scholarship (28) 28
Kwai Cheong Grad Studentship tncome Fund (32) 32
Restricted Annual Fund - Chairs (5)
Restricted Annua) Fund - Harold Parr (8)
Restricted Annual Fund - Kurt Beyer
Student Support Annual Fund 135 (169) 34
The Boat club 1 (1)
Tutorial/Classics Fellowship Income Fund (74) 74
Total Restricted Funds College & Group 4.219 800 (1,268) 4,324
At 31 July incoming Resources Gains At 31 July
2023 resources expended Transfers 2024
£'000 £'000 £'000 £'000 £•000 £'000
Designated Funds
Housing Loan Fund 1,558 1,641 3,199
Frewln Undercroft and Refurbishment 814 79 893
£9M Loan Repayment Fund. (repay 2048) 775 30 (5) 31 43 874
£8M Loand Repayment Fund (repay20-44) 105 4 102 6 216
Global History of Capitalism 60 13 (2) 71
Delafietd Fund 92 (49) 43
HCR Dilapidation Fund 16 17
JCR Dllapldation Fund 13 13
Boat Club Capital Fund 10 10
John Davles Fund Desginated Income fund (15) 8
Thomas & Jones Inc Fund 3 3
Reynolds Prize (nc Fund 1 1
Unrestricted/Greatest Need Annual Fund 45 (366) (2) 2
Benefactions Income Fund 10 (10)
BNC Australia Scholarship Income Fund (3) 3
Clifford Press Donation FY 22 (201)
Designated Legacies Fund
Hufme Income Fund (134)
Michael Woods Income Fund J2L 3
Grand Total 3,611 (444) 1.536 49 5,350
Pension Reserve 2,311
General Reserve (Consolidated) 24,156 (13,860) 4,549 22 22.779
Unrestricted funds held by subsidiaries (259) (581) 785
Transfers
General Funds - Group 24,748 8,964 (14,119) 3,968 22 23,564
Total Unrestricted Funds - Group 26,028 (12,252) 5,504 71 28,914
Total Funds - Group 213,938 18,143 (14,880) 10.366 227,767

FUNDS OF THE COLLEGE DETAILS FUNDS OF THE COLLEGE DETAILS
The following is a summary of the origins and purposes of each of the Funds
Endowment Funds
Permanent Endowment Fund A consolidation of gifts and donations which comprise the historic endowment of the College, and which the Governing
Hutme Capital Fund Capita) balance of past donations from the Hulme (Educational) Trust in Manchester, which are given for the general
Tutorial/Classics Feliowship Capital Fund A 2009/10 fund In support of Tutorial Fellowships S Classics.
Germalne Capital Fund 1972 Wili Trust Fund to support schotarships for Home/EU graduates
Undergraduate Bursary Capital Fund Undergraduate Bursaries within the College
Lucas Bequest Capita) Fund To support a Junior Research Fellow/research activities
Kwal Cheong Lena Llu (Laou) (KCLLL)
Graduate Studentship Fund 2009/10 to fund a Dphll studentshlp for a student preferably from China
Undergraduate Bursary Capital Fund Gordon Orr Bursary
Undergraduate Bursary Capita! Fund Sir Christopher Wates Honour Bursary
Jeffery Bequest (Mod Hist) Capital Fund 1975 to support the publication of learned works, and/or an exhibition in History
Undergraduate Bursary Capita! Fund The Mark Veil Honour Bursary
Undergraduate Bursary Capital Fund The George Walker Bursary
Profumo Capita) Fund 1940 to suport extra-curricular activities of undergraduates of educational benefit
Undergraduate Bursary Capital Fund The Mosse Honour Bursary (MHB)
Undergraduate Bursary Capital Fund Ths Peter Sinclair Honour Bursary
Undergraduate Bursary Capital Fund The David Watts Honour Bursary
Undergraduate Bursary Capital Fund The Peter Sands Honour Bursary
Undergraduate Bursary Capital Fund The Turner Family Honour Bursafy (TFHB)
Undergraduate Bursary Capita) Fund The Dermol (1951) & Gerard (1954) Dunphy Honour Bursary.
Undergraduate Bursary Capital Fund The Folkman Honour Bursary (FHB)
Undergraduate Bursary Capital Fund 1974(Co-Ed)Bursary
Undergraduate Bursary Capital Fund The Michael May Bursary
Undergraduate Bursary Capital Fund KCM Honour Bursary
Rector of Dldcot Capital Fund Rector of Dldcot Capital fund
Undergraduate Bursary Capital Fund Bride Mayer Honour Bursary
Poor of Didcot Fund Poor of Dldcot Income Fund
Reynolds Prize Capital Fund To support prizes
Cox Trust Income Fund Cox Trust Income fund
Morley Trust Income Fund Merely Trust Income Fund
Brasenose Income Capital Fund For genera! purposes
Economics Fellowship Capital Fund For the endowment of a Fellowship in economics
The Garrick Law Fellowship Capital Fund For the endowment of a Fellowship In law
Oxford-Jeffrey Cheah Graduate Scholarship
Fund-Capital Fund Endowment to support the Jeffrey Cheah Fellowships and graduate studentship programmes
Politics Fellowship Capital Fund For the endowment of a Fellowship in politics
Hector Pilling Capital Fund 1988 to support graduate schotarships/studentships preferably RAF/Commonweaith
FJddian Capita} Fund For the support of undergraduate/graduate students from Monmouth/Haberdashers Schools
Roger Thomas Bequest Cap Fund For the furtherance of education
Bedford Capital Fund (Invested In TP) 1996 bequest for general purposes
Curran Capital Fund 1965 supports the Curran Tutor In Physiology
John Davies Endowment Fund For the support of teaching and research in law (formally the EHesmere Law Endowment Capital fund)
Cashmore Capital Fund Valedictory fund in name of former Principal for bursaries
Teaching of Blochemlstry Brasenose Academic Teaching Post funded jointly by William Dunn school of Pharmachology amd University
Access & Outreach To support access and outreach activity.
Expendable Endowment (inc legacies) Fund Expendable Endowed Legacies
The Ward Jones bursaries To provide bursaries for undergraduates of the College in perpetuity
Stafford Bequest Capita! Fund Supporting College funded mini-bursaries
Barry Nichotas Capital Fund Anonymous donation in memory of former Principal to support a graduate \aw scholar intending to practise at the bar of
The Guy Scholarship To endow a scholarship in environmenta! studies or such other field as may seem of major importance to the Principa!
The Heffernan Sinclair Scholarship Fund To support the study of Economics.
BNC Australia Scholarship Capital Fund Australian scholarship fund
Benefactions Capital Fund Fund to support students in financial need
Holroyd Collieu Noel Hall Capital Fund Mid 20th C benefaction. Income is restricted for use for travel grants.
Thomas & Jones Inc Fund Unrestricted
The Taha Brown Fund To establish an endowment, the income from which should go towards funding a Graduate Studentship to support an
The Robert and Soulla Kyprianou Grad
Scholarship Capital Fund Donated funds to support a graduate studentshjp,
FC Ruffet in memory ofFC Ruffet

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted Endowment 2024
Funds Funds Funds Total
2024 £'000 £'000 £•000 £'000
Tangible fixed assets 39,904 39,904
Property Investments 441 562 5<1,087 65,090
Other investments 1,175 1.498 144,226 146,899
Net current assets 4.490 2.386 7.998 14,874
Long term liabilities and pension liabilities (17,096) (122) (11,782) (29,000)
28,914 4.324 194,529 227,767
Unrestricted Restricted Endowment 2023
Funds Funds Funds Total
£'000 £'000 £•000 £•000
2023 40.226 0 0 40,226
Tangible fixed assets 681 520 51.959 83,160
Property investments 986 1.398 139,383 141,767
Other Investments 3,549 2,421 4,146 10.116
Net current assets (19,413) (120) (11,798) (31,331)
Long term liabilities and pension fiabilities 26,029 4.219 183.690 213,938

Idltional work carried out • Idltional work carried out • as part time college
• officers (such as the		 as part time college
• officers (such as the		 i Dean, Tutor for Graduates, Vice Principal, Fellow
Trustee Name Salary Pt
Pension		 Benefits 2024 Total Trustee Name 2023 Total
Mr John Bowers 126.773 22.132 11,349 160.254 Mr John Bowers 156.855
Mr Philip Parter 111,367 19,443 2,448 133,258 Mr Philip Parter 130.932
Dr Simon Smith 95,332 16,643 2.448 114.424 Dr Simon SmElh 109.872
Dr Simon Palfrey 65,186 11,380 3,7<18 80,314 Dr Simon Palfrey 76,442
Dr Uewelyn Morgan 60,591 10,578 71,169 Dr Llewelyn Morgan 70,417
Or David Groiser 45,358 7,919 20,752 74,029 Dr David Groiser 68,873
Or Christopher Timpson 60,591 10,578 1,526 72.695 Or Christopher TJmpson 71,639
Mr William Swadllng 60,591 10.578 1,249 72,418 Mr William Swadling 73.653
Or Ed Bispham 67,483 11,781 79,264 DrEd Bispham 72,654
DrAbigail Green 60.591 10,578 71,169 DrAbigail Green 72.654
Dr Alan Strathem 60,591 10,578 3,612 74,781 Dr Alan Strathern 72,654
Dr Mark Wllson 29,295 10.578 3,612 43.485 Dr Mark Wllson 35.337
Prof Adam Perry 65,965 12,074 78,038 Prof Adam Perry 72,654
Or Sos Eltls 60,591 10,578 71.169 Dr Sos Ellis 78,060
Rev David Sheen 29,980 29.980 Rev David Sheen 18,066
Or Owen Lewis 29,295 S,114 1,380 35,790 Or Owen Lewis 35,278
Dr Thomas Krebs 29,295 5,114 3,917 38,327 Or Thomas Krebs 35,348
Dr Haney Burd 31,592 5,635 979 38,207 Dr Harvey Burd 36.223
Or Eamonn Gaffney 38,485 6,114 1.889 4S.488 Or Eamonn Gaffney 43,493
Or Christopher McKenna 29,295 5,114 2,448 36,858 Dr Christopher McKenna 34,173
Prof Andrea Ruggeri (resigned April 2024) 10,546 2,455 18,147 29.149 Prof Andrea Ruggeri 28,478
Prof Konstantin Ardakov 29,295 5.114 1,484 35.893 Prof Konstantin Ardakov 32,912
Prof Jonathan Jones 29,295 5,114 1.959 36,368 Prof Jonathan Jones 33,684
Prof William James (resigned Sept 2024) 30,590 964 2,938 34,491 ProfWitiiam James 31,068
Or Jeremy Robertson 29.295 5,114 2,448 36,858 Or Jeremy Robertson 33.684
Or Eric Thun 29,295 5,114 5.219 39.628 Or Eric Thun 35,704
Dr tan Klaer 29.295 5,114 1,959 36,368 Dr tan Kiaer 35,336
Dr Julia Diamantis 78,779 13,077 1.959 93.815 Or Julia Diamantis 88.977
Prof S Krishnan 13,555 2.286 17,771 33.613 Prof S Krishnan 30.393
Prof P Maiolino 12,208 2,131 19.240 33,579 Prof P Malollno 26,338
Prof S Shogry 34,482 4,841 5,709 45.031 Prof S Shogry 32,905
Or Kalrina Lythgoe 29,295 5,114 34,409 Or Katrina Lythgoe 24,974
DrJayne Birkby 29,295 5,114 34,409 DrJayneBirKby 31,725
Or Serglo de Ferra 29.295 5,114 6,378 40,787 Dr Sergio de Ferra 34,173
Prof Samlra Lakhat-Llttleton 29,295 5,114 34,409 Prof Samira Lakhai-Littleton 34.173
Prof Fitnat Banu Demir 15,332 0 15.332 ProfFltnalBanuDemir 23,925
Prof Anns Davies ProfAnne Davies
Prof Michael Duslln Prof Michael Duslln
Or Anns Edwards Dr Anne Edwards
DrSonali Nag Dr Sonali Nag
Prof Giles Wlggs 29.295 6,328 2,448 38,071 Prof Giles Wiggs 34,173
Or Dejan Draschkow (from Oct 2023) 24,899 4.093 28.992 Rev Julia Baldwin 12,799
Prof Katerina Tertytchnaya (from October 23) 13.138 1,003 9,709 23,850
Prof Faraz Mardakheh (from September 2024)
Prof Lionel Smith (from September 2024)
Dr Valentla Arena (from September 2024)
Total 1,684,726 284,719 158,724 2,126,169 Total 1,970,496
Term dependent rates In line with the difference between the Fixed
CPt assumption interest and Index Linked yield curves fess: 1.0% p.a. to 2030,
reducing lineariy by 0.1% p.a. from 2030.
Senefils with no cap: CPI assumption plus 3bps Benefits subject to
Pension increases (subject to a floor of 0%) a "soft cap" of 5% (providing tnflationary Increases up to 5%, and
laif of any excess inflation over 5% up to a maximum of 10%); CPI
assumption minus 3bps
Fixed interest giit yield curve plus:
Discount rate (forward rates) Pre-retirement: 2.5% p.a.
Post-retErement: 0.9% p.a. /
The main demographic assumptions used reiate to the mortality assumptions. These assumptions are based on anal
part of the 2020 actuarial valuation. The mortality assumptions used in these figures are as follows:
Mortality base table 101% of S2PMA -llghr for males and 95% of S3PFA for
females
CMf 2021 with a smoothing parameter of 7.5, an initiai
Future improvements to mortality addition of 0.4% p.a. and a long-term Improvement rate
of 1.8% pa for mates and 1.6% pa for females
The current life expectancies on retirement at age 65 are:
2024
2023
Males currently aged 65 (years) 23.7
24
Females currently aged 65 (years) 25.6
25.6
Mates currently aged 45 (years) 26.4
26
Females currently aged 45 (years) 27.2
27.4
The principal assumptions used by the actuary were;
Rate of interest (periods up to retirement) Gilts' +2.25%
Rate of Interest (periods after rellremenl) Gilts' +0.5%
Break-even RPI curve
RPI less 0.5% pa pre-2030
and1,0%papost-2030
RP! inflation assumption
CPI tess 1 % pa pre-2030 and
0,1% pa post-2030
Pensjonable Salary increases RPI+pa
Funding Ratios: I
Technical provisions basis: 105%
'Buy-out* basis: 62%
Non-dnanelal assumptions:
INon-Pensioners: 105% of
Islandanl S3PxA medium
Itables for both males and
females
Post-retirement mortaiity - base table
Pensioners: 105% of
standard S3PxA medium
tables for both mates and
females
INon-Penstoners: 105% of
istandard SSPxA medium
Post-retiremenE mortality - I tables for both males and
I females
Pensioners: 105% of
standard S3PxA medium
improvements tables for both males and
females
16.5% 08 for members
from 01/10/2023
iRecommended employer's contribution rate 110% ,12% ,14% DC
l(as % of penslonable salaries): Imembers in relation to 4%
1/6% ,8% cost plan - from
101/10/2023
Effective date of next valuation; 31/03/20251
Scheme 2024 2023
£'000 £'000
Universities Superannuation Scheme 566 834
University of Oxford Staff Pension Scheme 263 356
Other schemes - contributions 18 13
Total 847 1,203

NCIAL INSTRUMENTS 2024 2023
Group Group
£'000 £'000
Financial assets at fair value through Statement of Financial Activities:
Fixed asset investments 146,900 141,768
Financiaf instruments that are debt instruments measured at settlement value :
Trade Debtors 423 497
Amounts owed by College members 2,277 1,858
Amounts owed by Group undertakings
Other Debtors and accrued income 1,908 2,413
Financial Liabilities measured at settlement value:
Trade Creditors (305) (871)
Amounts owed to Group
Amounts owed to College members (127) (489)
College contribution (161) (151)
Other Creditors (1,236) (914)
Accruais (1,591) (2,216)
Financial liabilities measured at amortised cost:
Bond notes (29,000) (29,000)
119,088 112,895
RECONCILIATION OF NET INCOMING RESOURCES TO
NET CASH FLOW FROM OPERATIONS 2024 2023
Group Group
£'000 £•000
Net Income 13,829 (7,556)
Elimination of non-operating cash flows:
Investment income (7,245) (9,212)
(Gains)/Losses in investments (10,366) 9.868
Endowment donations (656) (557)
Financing costs 5 2
Depreciation 1,353 963
Profit on safe of fixed assets (22)
(Increase) in stock (6) (12)
Decrease In debtors 160 1,586
Decrease in creditors (1,221) 770
(Decrease)/lncrease In pension scheme liability (2,331) 320
Net cash (used in)/provided by operating activities (6,478) (3,850)

ANALYSIS OF CHANGES IN NET DEBT
Foreign
At start of exchange Fair value At end of
year Cashftows movements movements year
£'000 £'000 £'000 £'000 £•000
Cash 9.659 3.516 175 13,350
Deposits and other short term investments
Loans failing due after more than one year (29,000) (29,pqp)
Total (19,341) 3,516 178 (i6,esq^
27 ANALYSIS OF CASH AND CASH EQUIVALENTS
2024 2023
£'000 £'000
Cash at bank and In hand 13,350 9,659
Notice deposits (less than 3 months)
Bank overdrafts
Total cash and cash equivalents 13,360 9,659
28 FINANCIAL COMMITMENTS
At 31 July the College had annual commitments under non-cancellabfe operating leases as follows: 2024 2023
£'000 £'000
Land and buildings
expiring within one year 7 4
expiring between two and five years ~T 3
Other
expiring within one year 2 4
expiring between one and five years 3
2 7

The number of loans outstanding at 31 July with the balances in the following bands were as follows:
2024 2023
£'000 E'OOO
£34,000 - £35,000 1 1
£68,000 - £78,000
£77.000 - £78,000
£99,000 - £99,999 1
£100,000-£100,999 1
£103,000-£103,999
£104,000 - £104,999
£107,000-£107.999
£110,000 - £110,999 1 1
£116.000-£116,999 1 1
£117,000-£117,999 1
£118,000-£118,999 1 1
£121,000-£121,999 2 2
£123,000-£123,999
£200,000- £200,999 1
£300.000 - £399.000 4 3
Total Number of Loans 13 12

COMMITMENTS UNDER OPERATING LEASES
Group and Company - Lessor 2024 2023
E'OOO £'000
The group earns rental income by leasing its properties to tenants under non-canceitable operating leases. Leases in which
Al Ihe balance sheet date, the group had contracted with tenants to receive the following future minimum lease payments
Not iater than 1 year 1,766 1,821
Later than 1 year and not tater than 5 years 4.569 5,445
Later than 5 years 10.484 11.200
16,819 18,468
Unrestricted Restricted Endowed 2023 2022
Funds Funds Funds Total Total
Notes £'000 £'000 £'000 £'000 £•000
INCOME AND ENDOWMENTS FROM:
Charitable activities:
Teaching, research and residential 1 6.667 6.667 6,046
Public worship
Heritage
Other Trading Income 3 39 39 307
Donations and legacies 2 767 355 557 1,679 3.127
Investments
Investment income 4 20 90 9,102 9,212 10,814
Total return allocated to income 14 4,948 795 - (5,743)
Other income 5 681 681 118
Total income 13,122 1,240 3,916 18,278 20.412
EXPENDITURE ON:
Charitable activities:
Teaching, research and residential 12,972 1,301 14,273 12,847
Public worship
Heritage
Generating funds:
Fundraising 614 614 605
Trading expenditure 189 189 (972)
Investment management costs 2 9 879 890 753
Total Expenditure 6 13,777 1,310 879 15.966 13,233
Net Income (Expenditure) before gains "(655V JM 'sflsT 2,312 7,179
Net (losses)/gains on investments 11,12,19 (21) (96) (9,751) (9,868) 7,317
Net Income/(Expenditure) (676) TieeT ~WW} (7,556) 14.496
Transfers between funds 19 (973)
Other recognised gains/fosses
Gains/(losses) on revaluation of fixed assets
Actuarial gains/(fosses) on defined benefit pension schemes
Net movement In funds for the year ~2ST (1,139) TeJW (7,566) 14,496
Fund balances brought forward 19 25,732 5,368 - 190,404 221,494 206,998
Funds carried forward at 31 July 26,029 4,219 - 183,690 - 213,938 221,494
Comparative Information- Analysis of Movements on Funds Comparative Information- Analysis of Movements on Funds Comparative Information- Analysis of Movements on Funds
As at 31 July 2022 Incoming Resources As at 31 July 2023
resources expended Transfers Gains
£'000 £'000 £'000 £'000 £'000 £'000
Endowment Funds - Permanent
Permanent Endowment Fund 131,712 6.314 (609) (3,567) (6,764) 127,086
Brasenose income Capital Fund 12,384 606 (56) (928) (645) 11.361
Hulme Capital Fund 8,650 414 (41) (261) (443) 8.319
Tutoriat/Classics Fellowship Capitai Fund 2.355 116 (10) (71) (121) 2,268
Germaine Capital Fund 1,422 68 (6) (43) (73) 1,368
Undergraduate Bursary Capital Fund 968 47 (4) (83) (48) 900
Lucas Bequest Capital Fund 733 35 (3) (23) (38) 704
Kwai Cheong Graduate Studentship Fund 522 25 (2) (16) (27) 502
Gordon On- Bursary 450 20 (2) (45) (21) 402
Sir Christopher Wates Honour Bursary 261 12 (D (16) (13) 243
Jeffery Bequest (Mod Hist) Capital Fund 222 11 (2) (7) (11) 213
Mark Veil Honour Bursary 163 (D (10) (8) 152
The George Walker Honour Bursary 163 (1) (10) (B) 152
Profumo Capital Fund 156 (5) (8) 150
Mosse Honour Bursary 142 (1) (9) (7) 132
Peter Sinclair Honour Bursary 132 (8) (7) 123
David Watts Honour Bursary 131 (8) (7) 122
Peter Sands Honour Bursary 130 (1) (8) (6) 121
The Turner Family Honour Bursary 130 (1) (8) (8) 121
The Dermol (1951) S Gerard (1954)Dunphy 130 (1) (8) (8) 121
The Fotkman Honour Bursary 124 (1) (8) (6) 115
1974Bursaries(CO-ED) 122 (8) (6) 114
The Michael May Honour Bursary 104 (D (6) (5) 97
The KCM Honour Bursary 78 (1) (4) (4) 73
Rector of Didcot Capital Fund 52 1 (2) (3) so
Bride Mayor Honour Bursary 32 (2) (2) 30
Poor of Didcot Capital Fund 18 1 (1) (1) 18
Reynolds Prize Capital Fund 17 (1) (D 16
Cox Trust Capital Fund (1518) 9 (1) 8
Mortey Trust Capital Fund(1515) 6 (D 5
Total Permanent Endowment 161,618 7,754 -JN5l. (6,146) (8;295) 155,086
At 31 July Incoming Resources Gains/ At 31 July
2022 resources expended Transfers (losses) 2023
E'OOO E'OOO £'000 £'000 £'000 £'000
Endowment Funds - Expendable
Brasenose Income Capita! Fund 5.805 327 (29) 370 (287) 6.186
Economics Fellowship Capital Fund 2.424 116 (12) (73) (124) 2,331
Garrick Law Fellowship Capital Fund 2,306 111 (11) (71) (118) 2,217
Jeffrey Cheah Fund-Capital Fund - FellowsshJf 2,165 102 (9) (132) (110) 2.016
Politics Fellowship Capital Fund 1,962 94 (10) (61) (100) 1,885
Hector Pilling Capital Fund 1,936 93 (10) (60) (99) 1,860
Fiddian Capita) Fund 1,770 85 (8) (54) (91) 1,702
Roger Thomas Bequest Cap Fund 1,611 77 (7) (50) (83) 1,648
Bedford Capital Fund 1,403 68 (7) 4 (73) 1.395
Kyprianou Grad Stud Capital Fund 1,007 54 (5) 88 (58) 1,086
Curran Capital Fund 943 46 (4) (29) (48) 907
Jeffrey Cheah Fund-Capital Fund - Graduate £ 834 22 (2) (388) (24) 442
John Davies Endowment Fund 737 35 (3) (24) (38) 707
Cashmore Capital Fund 583 28 (2) (20) (30) 559
Biochemistry 597 191 (2) (17) (30) 739
Access & Outreach Capita! Fund 259 18 (9) (13) 255
Expendable Endowment Fund 232 11 (D (8) (12) 224
The Ward Jones Bursaries 269 45 (1) (8) (13) 292
Stafford Bequest Capital Fund 210 10 (1) (6) (11) 202
Barry Nicholas Capital Fund 192 9 (8) (10) 185
The Guy Scholarship 305 14 (1) (9) (15) 294
The Heffernan Sinclair Scholarship Fund 715 34 (5) (19) (37) 688
BNC Australia Scholarship Capital Fund 116 6 (D (3) (6) 111
Benefactions Capital Fund 113 5 w (1) (6) 110
Holroyd Cotlleu Noel Halt Capllal Fund 80 4 (1) (2) (4) 77
Thomas & Jones Capita! Fund 31 1 1 (1) (2) 29
Taha Brown Scholarship 281 300 (2) (8) (14) 557
Total Expendable Endowment Funds 28,885 1,905 -(134T (697> (1,456) 28,604
Total Endowment Funds . Group 190,404 9,669 (879) (5,743) ~W6i) 183,690
At 31 July Incoming Resources Gains At 31 July
2022 resources expended Transfers 2023
E'OOO £'000 £'000 £'000 £'000 £'000
Restricted Funds
Falrburn Legacy 1,757 82 (8) (52) (88) 1.691
Fairburn Legacy - Income fund (35) 52 17
Chapel Organ 1,066 (267) 799
Fiddjan Income Fund 460 53 513
Deferred Capital Fund 238 (7) 231
The Ward Jones & The Guy Scholarship (Income fund) 17 17
The Crote Legacy 156 (D (S) (8) 149
The Croje legacy - income fund s 5
Chapel Celling 113 (113)
The Principals Conversations 95 95
Hector Filling Income Fund 61 58 47
Lucas Bequest Income Fund 29 (2) 22 49
Donation for Jewish Country House Project (Gr 52 (13) 39
Jeffery Bequest (Modem History) Income Fund 47 (S) 7 49
The Saven Gift 40 (39) 1
Politics Fellowship Income Fund 44 (47) 59 56
Garrick Law Income Fund (70) 70
Chapel and Choir 27 28
Akers Jones Gift 18 18
Kyprianou Grad Stud Income Fund 21 (18) 34 37
The Wine Reserve Fund (Det favero) 10 (9) 1
Cashmore Income Fund 18 (22) 5 1
Rector of Didcot Income Fund 14 2 16
Access Programme 26 (28)
Charles Skey 15 (15)
The Boat club
Germaine Income Fund 36 (22) 57
Modem Linguists Fund 6
The Fergus Miller Memorial Fund 8
TaHa Brown Graduate Studentship to support;
Stafford Bequest Income Fund 1 3 19
Poor of Didcot Income Fund 6 1 7
John Davies End Fund 1 1 (15) 22 18
H.C.L. Noel Hall Income Fund 7 (3) 2
Profumo income Fund 6 (4) 5
Restricted Annual Fund 2 (6)
Barry Nicholas Income Fund 2 (7) 6 1
Cox Trust Income Fund 3 3
Major Gifts Restricted Cheetham 5 6
Moriey Tmst income Fund 2 2
Restricted Annual Fund - George Walker Burss 1 1
Academic Excellence Annual Fund 1 (15) 8 1
Archive Fund 113 113
Barton Economics Fellowship Inc Fund (73) 73
The Chapfains Fund 4
Clubs and Societies (78) 76
Curran Income Fund (29) 29
Frewin Annex Developmet 63 78 (141)
Jeffrey Cheah Fund- Graduate Scholarship (38) 38
Jeffrey Cheah Fund-lncome Fund 55 (55)
Kwai Cheong Grad Studentship Income Fund (32) 32
Leanne Wells for Environmental Programs 814 (814)
Library and Archives Annual Fund 3 (3)
Ukranian Student 20 20
Niall Robinson - Ukraman Students displaced b 40 (16) 24
Travel Grants - care Leavers 20 (4) 16
Peter Moores Chinese Bus Stud Fund 2 44 (13) 33
Restricted Annual Fund - Chairs (8)
Restricted Annual Fund - Harold Pan- (8)
Restricted Annual Fund - Kurt Beyer (6)
Restricted Annual Fund - North Yorkshire Oulre 5 5
Student Support Annual Fund (58) (62) (9)
Tutorial/Classics Fellowship Income Fund (71) 71
Undergraduate Bursary Income Fund (186) 186
Total Restricted Funds - College & Group ~445~ (1,310) TJ787 4,219
Restricted funds held by subsidiaries
Total Restricted Funds - Group
5,358		 -445~ (1,310) am 7987 4.219
Designated Funds
£8M Loand Repayment Fund (+E105R, repay2044) 105 105
£9M Loan Repayment Fund. (+£56k, repay 2048) 775 775
Housing Loan Fund 1,578 (20) 1,558
Frewin New Build Accomodatlon 3.328 (2,514) 814
Lecture Room Xf
Loan Repayment Fund 695 (694) 1
Roger Thomas Bequest Income Fund
Designated Legacies Fund (PIRG)
Reynolds Prize Inc Fund 1 1 2
Thomas & Jones Inc Fund 2 1 3
Benefactions Income Fund 7 3 10
Nuime Income Fund 103 (11) (92)
Bedford Income Fund
Benefits Income Fund
Junior Research Income Fund
BNC Charitable History Income Fund
BNC Charitable Law Income Fund
Clifford Press Donation FY 22 201 201
Brasenose Scholarship Income Fund
Michael Woods Income Fund (1) 1
Unrestricted/Greatest Need Annual Fund (1) 353 (224) (84) 44
Unrestricted Donation Chew
JCR Dllapldation Fund 13 13
HCR Dllapidalion Fund 16 16
Boat Club Capital Fund 10 10
BNC Australia Scholarship income Fund (5) 5
Global History of Capitalism 65 5 (10) (1)
Delafield Fund 79 (79)
Total designated funds - College & Group
-5,916-		 -539- -(250l -(2,693T ~3,61T
Pension Resen/e (318) (2,331)
General Resen/e (Consolidated) 21,367 1,332 (7,544) 9,022 (21) 24,166
Unrestricted funds held by subsidiaries 463 6.303 (5,722) (451) 592
Revaluation resen/e
Transfers (123) 123
General Funds - Group 21.830 7,635 (13,389) 8,694 (21) 24,748
Total Unrestricted Funds " Group 25,732 ~S^74' (13.639) '5J83' (21) 26,028
Total Funds - Group 221,494 18,278 (16,828) TIMT (9,868) 213,938