##
#
|Governing
Body, Officers and Advisers|Governing
Body, Officers and Advisers|2-4|
|---|---|---|
|Report ofthe Governing
Body||5-14|
|Auditor's
Report||15-18|
|Statement ofAccounting
Policies||19-23|
|Consolidated
Statement
of Financial|Activities|24|
|Consolidated
and College Balance|Sheets|25|
|Consolidated
Statement ofCash Flows||26|
|Notes to the Financial Statements||27-44|
##
|pproval
ofthese financial state
fficerships:|ments,
are li|sted below|together
with|details|for|those|who|also|held|Colle|ge||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||1)|2|3|4|5)|6|7|(8)|(9)|
|Mr David Isaac|Provost||||||||||||
|Dr Simon Cowan|Interim Vice Provost||||||||||||
|Prof Kate Tunstall|||||||||||||
|Prof Robert Sexton|(to 30/789/21)||||||||||||
|Prof Donal Nolan|||||||||||||
|Dr Nir Vulkan|||||||||||||
|Prof Andrew Carr|||||||||||||
|Dr Ben Morgan|||||||||||||
|Dr John Panlngton|||||||||||||
|Dr Richard
Earl|||||||||||||
|Dr Scott Scullion|Senior Tutor (to31-8-21)Dean of
Degrees (from 1/9/21)||||||||||||
|Prof Deborah Cameron|||||||||||||
|Prof Josephine
Quinn|||||||||||||
|Prof Andreas
Willi|||||||||||||
|Prof Julian Roberts|(to 30-9-22) Garden||Master||||||||||
|Prof Endre SOli|||||||||||||
|Prof Grant Ritchie|||||||||||||
|Prof Bob Harris|||||||||||||
|Dr Paul Azzo
i|Dean||||||||||||
|Dr Mark Howarth|Demitted|31-8-22|||||||||||
|Dr David Steinsaltz|||||||||||||
|Dr Conrad Leyser|||||||||||||
|Prof Laura Ashe|Tutor for|Admissions|(to 31-8-21)||||||||||
|Prof Gabriel Stylianides|||||||||||||
|Prof Kim Dora|||||||||||||
|Dr Antonie Pepachristodoulou|||||||||||||
|Dr Michail Peramatzis|||||||||||||
|Dr Zofia Stemplowska|||||||||||||
|Prof Felix Parra Diaz|Demitted|5-9-21|||||||||||
|Dr Afifi al-Akiti|||||||||||||
|Prof Sadie Creese|||||||||||||
|Dr James Edwards|||||||||||||
|Prof Andrew Stephen|||||||||||||
|Mr Mark Bainbiidge|Fellow Librarian||||||||||||
|Rev DrTees Kuin Lawton|Chaplain|demitted 19-11-21|||||||||||
|Dr Alexander
Sturgis|||||||||||||
|Dr Pete Fowler|||||||||||||
|Dr Alice Violet|||||||||||||
|Dr Andrzej
Murawski|||||||||||||
|Dr Robert Smith|||||||||||||
##
|Dr Hauke Marquardt||||(1)|(2)|(3)|(4)|(5)|(6)|P)|(8)|(9)|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Dr Merve Emre|Tutor for Women|(from 01/10/21)|||||||||||
|Mr Gareth Pdor|Finance &Estates Bursar demitted
30-9-21||||||||||||
|Dr Marchella
Ward|Tinsley Outreach
9-9-22)|Fellow (Demitted|||||||||||
|Dr Lisa Wedding|||||||||||||
|Dr Michael Mayo|Tutor for Graduates
(to 31Jt-22)||||||||||||
|Dr Laura Quick|Tutor forWomen|(to 30/9/21)|||||||||||
|Dr Leah Trueblood|||||||||||||
|Dr Natalia Waights-Hickman|||||||||||||
|Prof Tsilly Dagan|||||||||||||
|Ms Kate Foley|Development
Director (to31-10-22)||||||||||||
|Prof lain McCulloch|Appointed||||||||||||
|Prof Daniel Neyland|Senior Tutor appointed
9-22)||(1-9-21to 9-||||||||||
|Mr Mike Huggins|Finance &Estates
14-2-22)|Bursar (appointed|||||||||||
|Prof Emmanuel
Breuillard|(from 1/1/22)||||||||||||
|Prof Jennifer Walshe|(from 1/4/22)||||||||||||
|Mr Simon Boddie|(from 12/5/22)||||||||||||
|Dr Paulo Savaget|(from 1/9/21)||||||||||||
|DrWouter Mostert|(from 1/10/21)||||||||||||
|Prof Patricia Clavin|(from 1/10/21)||||||||||||
|Dr Ronelle Roth|(from 1-10-22||||||||||||
|Dr Leila Ullrich|(from 1-10-22)||||||||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Unrestricted|Restricted|Endowed|2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Total|Total|
||||Notes|F'000|5'000|6'000|6'000|6'000|
|INCOME AND ENDOWMENTS||FRONE|||||||
|Charitable
activities|||||||||
|Teaching, resesmh
and|residential|||5,935|||5,935|5,119|
|Other trading
Income
Donations and legacies
Investment
income||||1,378
1,252
6|689|7,118
1,742|1,378
9,059
1,748|13
5,464
1,655|
|Other income||||46|||46|364|
|Total income||||8,617|689|8,860|18,166|12,615|
|EXPENDITURE ON:|||||||||
|Charitable
activities|||||||||
|Teaching, research and|residential||6|11,762|2,627||14,389|12,564|
|Generating
funds:
Fundraising
Trading expenditure
Investment
management|costs|||640
27
63|||840
27
63|507
24
34|
|Total expenditure|||6|12,492|2,627||15,119|13,129|
|Net (expenditure)/income|before gains|||(3,875)|(1,938)|8,860|3,047|(514)|
|Net gains/(losses)
on investments||||250||(563)|(313)|7,635|
|Net (expenditure)5ncome||||(3,625)|(1,938)|8,297|2,734|7,121|
|Transfers
between
funds||||1,259|940|(2,199)|||
|Net movement
in funds for the year||||(2,366)|(998)|6,098|2,734|7,121|
|Fund balances
brought fonvard|||17|37,655|3,189|53,495|94,339|87,218|
|Funds carried forward at 31||July|17|35,289|2,191|59,593|97,073|94,339|
##
|||||2022|2021|2022|2021|
|---|---|---|---|---|---|---|---|
|||||Group|Group|College|College|
||||Notes|8'000|L'000|8'000|F'000|
|FIXEDASSETS||||||||
|Tangible assets
Property
investments
Securities and other investments|||10
11
12|32,945
4,833
46,418|33,838
4,583
46,983|32,945
4,833
46,416|33,838
4,583
46,983|
|CURRENT ASSETS||||84,194|85,404|84,194|85,404|
|Stocks||||138|132|138|132|
|Debtors|||15|8,471|1,002|8,811|997|
|Cash at bank and in hand||||9,178|10,762|8,686|10,674|
|||||17,783|11,896|17,833|11,803|
|CREDITORS: falling due within one year||||(1,423)|(1,422)|(1,273)|(1,329)|
|NET CURRENT ASSETS||||18,380|10,474|16,360|10474|
|TOTAL ASSETSLESSCURRENT||LIABILITIES||100,554|95,878|100,554|95,878|
|NET ASSETSBEFORE PENSION||LIABILITY||100,554|95,878|100,554|95,878|
|Defined benefit pension scheme||liabi8ty||(3,481)|(1,539)|(3,481)|(1,539)|
|NET ASSETS||||97,073|94,339|97,073|94,339|
|FUNDS OF THE COLLEGE|||17|||||
|Endowmentfunds||||59,593|53,495|59,593|53,495|
|Restrictedfunds||||2,191|3,189|2,191|3,189|
|Unrestricted
funds||||||||
|Designated
fixed assets fund||||32,746|33,753|32,746|33,753|
|General funds (excluding|pension|reserve)||8,024|5,441|6,024|5,441|
|Pension reserve||||(3,481)|(1,539)|(3,481)|(1,539)|
|||||97,073|94,339|97,073|94,339|
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||Group|Group|
||||||Notes|6'000|f'000|
|Net cash used in operating
activities|||||23|(3,338)|(1,220)|
|Cash flows from investing
activities||||||||
|Dividends,
interest and rents from investments||||||1,748|1,655|
|Purchase ofproperly,
plant and equipment
Proceeds from sale of investments||||||(114)|656|
|Purchase ofinvestments|||||||(312)|
|Net cash provided
by investing
activities||||||1,634|1,999|
|Cash flaws from financing
activities
Receipt ofendowment||||||118|449|
|Net cash provided
by financing
activities||||||118|449|
|Change
in cash and cash equivalents|in the|reporting|period|||(1,586)|1,228|
|Cash and cash equivalents
at the beginning||ofthe reporting||period||10,762|9,534|
|Cash and cash equivalents
atthe end|ofthe|reporting|period|||9,176|10,762|
##
|INCOME FROM CHA|RITABLE ACTIVITIES|||
|---|---|---|---|
|||2022|2021|
|||6'000|E'000|
|Teaching, research and residential||||
|Unrestricted
Funds||||
|Tuition fees - UK and EU students||2,098|2,116|
|Tuition fees - Overseas students||614|825|
|Other fees||420|219|
|Other grant support||115|132|
|Other academic income||177|188|
|College residential|income|2,513|1,839|
|||5,935|5,119|
##
|DONATIO|NS
AND|LEGAC|IES|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E'000|OOOO|
|Unrestricted
funds||||1,252|2,987|
|Restricted|funds|||689|2,028|
|Endowed|funds|||7,118|449|
|||||9059|5464|
|INCOME|FROM OTHER TRADING ACTIVITIES|||||
|||||2022|2021|
|||||6'000|L"000|
|Subsidiary|company|trading|income|393|11|
|Other trading
income||||985|2|
|||||1,378|13|
|INVESTMENT INCOME||||||
|||||2022|2021|
|||||5'000|E'000|
|Unrestricted
funds||||||
|Equity|dividends||||1|
|Interest|on fixed term deposits and cash||||24|
|Other investment||income||||
|||||8|25|
|Restricted|funds|||||
|Other inveshnent||income||||
|Endowed|funds|||||
|Other investment||income||1,742|1,630|
##
##
|ANALYSIS|O|F EXPENDITU|RE||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||6'000|L'000|
|Charitable|expenditure||||||||
|Direct staff costs allocated to:
Other direct costs allocated to:
Support and governance
costs allocated to:||||Teaching, research
Teaching, research
Teaching, research|and
and
and|residential
residential
residential|7,197
4,900
2,292|4,858
5,664
2,022|
||||||||1~,335|12,555|
|Expenditure||on raising funds|||||||
|Direct staff||costs allocated|to:|Fundraising
Trading
Expenditure|||417
27|343
20|
|Other direct costs allocated to:||||Fundraising|||134|105|
|||||Trading
expenditure|||||
|Support|and governance||costs allocated to:|Fundraising
Trading
expenditure
Investment
management||costs|89
~
63|59
4
34|
||||||||730|565|
||||||||15,115|13125|
|||||Fundraising
Trading
Expenditure
Investment
management||costs|640
27
63|507
24
34|
||||||||730|565|
##
##
|ANALYSIS O|F SUPPO|RT AND GOVERNANCE CO|STS|||
|---|---|---|---|---|---|
||||Generating|Teaching|2022|
||||Funds|Research &|Total|
|||||Residential||
||||6'000|6'000|6'000|
|Financial and|domestic|admin|60|534|594|
|Human resources|||42|329|371|
|IT|||38|366|404|
|Depreciation||||1,007|1,007|
|Other 6nance
Governance|charges
costs||12|31
25|43
25|
||||152|2,292|2,444|
##
##
##
##
##
|STAFF COST|S||||
|---|---|---|---|---|
|The aggregate|payroll costs for the|year were as follows:|2022|2021|
||||f'000|f.'000|
|Salaries and wages|||5,161|4,707|
|Social security|costs||465|421|
|Pension costs|||893|873|
||||6,519|6,001|
|Pension
provision
adjustment|||1,942|(53)|
||||8,461|5,948|
|The average
number ofemployees||ofthe College, excluding Trustees, was as follows:|2022|2021|
|Tuition and research|||172|185|
|College residential|||83|87|
|Fundraising|||5|5|
|Support|||19|17|
|Total|||279|294|
|The average|number ofFTEemployees ofthe College, excluding Trustees, was as||2022|2021|
|follows:|||||
|Tuition and research|||53|56|
|College residential|||59|77|
|Fundraising|||4|5|
|Support|||19|15|
|Total|||135|153|
|The average number ofemployed||College Trustees during the year was as follows:|2022|2021|
|University
Lecturers|||16|19|
|CUF Lecturers|||12|12|
|Otherteaching|and research||7|7|
|Other|||3|4|
|Total|||38|42|
##
##
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Freehold|Fixtures,||
|Group and College|Land and|Fittings and||
||Buildings|Equipment|Total|
||f'000|f'000|f'000|
|Cost||||
|At start ofyear|44,603|1,584|46,187|
|Additions||114|114|
|At end ofyear|44,603|1,698|46,301|
|Depreciation||||
|At start ofyear|11,046|1,303|12,349|
|Charge forthe year
At end ofyear|11,931
885|1,425
122|13,356
1,007|
|Net book value||||
|At end ofyear|32,672|273|32,945|
|At start ofyear|33557|281|33838|
##
||||2022|2021|
|---|---|---|---|---|
|Group and College|||Total|Total|
||||f'000|f'000|
|Valuation|at start|ofyear|4,583|4,683|
|Disposals||||(656)|
|Additions|and improvements|||312|
|Revaluation
gains||in the year|250|244|
|Valuation|at end|ofyear|4,833|4,583|
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|Group and College||||||6'000|8'000|
|Valuation
at start ofyear||||||46,983|39,592|
|Increase/(decrease)||in value of investments||||(567)|7,391|
|Valuation at end|ofyear|||||48,418|46,983|
|Group and College||investments|comprise:|Held outside|Held in the|2022|2021|
|||||the UK|UK|Total|Total|
|||||P000|P000|6'000|E'000|
|Global multi-asset|funds|||44,816|1,600|46,416|46,983|
##
##
|Worcester College|Worcester College|2022
6'000|2021
P000|
|---|---|---|---|
|Income||18,165|12,816|
|Expenditure||(15,117)|(13,119)|
|Gains/(losses)||313|7,635|
|Resultforthe|year|2,735|7,332|
|Total assets||101,827|97,207|
|Total liabilities||||
|Net funds at the end ofyear||97,073|94339|
|Worcester College|2022|2021|
|---|---|---|
|Enterprises
Limited|6'000|P000|
||455|11|
|Expenditure|(191)|(10)|
|Result for the year|284|1|
|Donation to College (gift aid)|264|212|
|||211|
|Total assets|720|107|
||720|107|
|Net funds at the end ofyear|||
##
##
##
|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|The Trustees have adopted a duly authorised
policy oftotal return
accounting
for the College investment
returns,
with
eilect from November 2003.The investment
return, to be applied as income, is catcufated as up to45%ofthe brought
forward values ofths relevant investments.
The preserved
(frozen) value ofthe invested
endewment
capital rspmsents
ils open market value in 1992,except where the original donabon can be identified,
together with the original gilt value
ofall subsequent
endowments|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Permanent|Endowment||Expendable|Total|
|||||||Trust for|Unapplied|Total|Endowment|2022|
|||||||Investment
Total Return|||||
|||||||F'000|Eocc|8000|8'000|6'000|
|At the beginning ofthe year:|||||||||||
|Gift component
ofths permanent
endowment||||||16,071|-|16,071||16,071|
|Unapplied
total return|||||||9,831|9,831||9,831|
|Expendable
endowment|||||||||27,593|27,593|
|Total Endowments||||||16,071|9,831|25,902|27,593|53,495|
|Movements
in the reporting
period:|||||||||||
|GIRofendowment
funds||||||7,069|-|7,069|48|7,117|
|Investment
return: total investment
income|||||||843|843|899|1,742|
|Investment
return: realised and unrealised
Other transfers|gains and losses||||||(275)|(275)|(288)|(563)|
|Total||||||7,069|568|7,637|659|8,296|
|Unapplied
total return
allocated to income|in|the reporting|||period||(675)|(675)|-|(675)|
|Expendable
endowments
transferred
to income
Nst movements
in reporting
period||||||7,069|(107)|6,962|(1,523)
(864)|(1,523)
6,098|
|At end ofthe reporting
period:|||||||||||
|GIR component ofthe permanent
endowment||||||23,140|-|23,140||23,140|
|Unapplied
total return|||||||9,724|9,724||9,724|
|Expendable
endowment|||||||||26,729|26,729|
|Total Endowments||||||23,140|9,724|32,864|28,729|59,593|
##
##
##
|14|STATEMENT OF INVESTMENT|T|OT|AL|RETURN (conti|nued)|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Permanent|Endowment||Expendable||Total|
||||||||Trust for|UnaPPlied||Tr&tal|Endowment|2021|
||||||||Investment
Total Return||||||
||||||||E'000|Eocc||EOOO|E'000|E'000|
||At the beginning
ofthe year:||||||||||||
||Gift component
ofthe permanent|endowment|||||16,060|-|16,060|||16,060|
||Unapplied
total return|||||||6,273|6,273|||6,273|
||Expendable
endowment|||||||||0|25,991|25,991|
||Total Endowments||||||16,060|6,273|22,333||25,991|48,324|
||Movements
in the reporting
pedod:||||||||||||
||Gift ofendowment
funds||||||11|-||11|438|449|
||Investment
return: total investment||income|||||754||754|876|1,630|
||Investment
return: realised and unrealised||||gains and losses|||3,416||3,416|3,975|7,391|
||Other transfem||||||||||||
||Total||||||11|4,170|4,181||5,289|9,470|
||Unapplied
total return
allocated to||income||in the reporting|period||(612)||(612)||(612)|
||Expendable
endowments
transferred|||to income|||||||(3,687)|(3,687)|
||Net movements
in reporting
period||||||11|3,558|3,569||1,602|5,171|
||At end ofthe reporting
period:||||||||||||
||GIR component
ofthe permanent|endowment|||||16,071|-|16,071|||16,071|
||Unapplied
total return
Expendable
endowment|||||||9,831||9,831|27,593|9,831
27,593|
||Total Endowments||||||16,071|9,831|25,902||27,593|53,495|
|15|DEBTORS:falling due within one year||||||2022|2021|||2022|2021|
||||||||Group
E'000|Group
E'000||College
E'000||College
E'000|
||Trade debtors||||||244||86||76|76|
||Amounts
owed by College members
Amounts
owed by Group undertakings
Loans repayable
within one year
Prepayments
and accrued income||||||6
8,221||172
4
720||508
6
8,221|172
13
4
712|
||Other debtors||||||||20|||20|
||||||||8,471|1,002|||8,811|997|
|18|CREDITORS: falling due within||one year||||2022|2021|||2022|2021|
||||||||Group|Group||College||College|
||||||||E'000|E'000|||E'000|E'000|
||Trade creditors||||||472||382||472|376|
||Amounts
owed to College Members
Taxation and social security
Accruals and deferred
income||||||230
293
74||416
131
265||230
292
74|416
131
262|
||Other creditors||||||354||228||205|144|
||||||||1,423|1,422|||1,213|1329|
##
##
##
|to eligible
expenditure
is transfer
expenditure
is spent.|red
from the|permanent
e|ndowment
fund|to restricted|funds
from wh|ich
eligible|
|---|---|---|---|---|---|---|
|Endowment
Funds|At 31 July
2021
5'000|Incoming
Resources
5'000|Resoumes
Expended
F.'000|Gains I
(Losses)
F'000|Transfers
5'000|At 31July
2022
6'000|
|Permanent|||||||
|Fellowships
Research Support
Scholarships|16,606
1,217
2,799|7,550
40
147||(176)
(13)
(30)|(453)
(2)
(118)|23,725
1,242
2,798|
|Studentships
Donated
Collection
Library &Book Conservation
The Mamott Trust
Other Funds|1,280
1,484
565
1,026
725|42
48
18
33
36||(14)
(16)
(6)
(11)
(6)|(45)
(3)
(13)
(10)
(34)|1,283
1,513
564
1,038
719|
|Expendable|||||||
|General
Fund|7,919|258||(84)|(1,063)|7,030|
|Fellowships|8,931|293||(95)|(311)|8,818|
|Visiting Fellows
Gardens and Grounds|2,055
1,464|67
93||(22)
(16)|(30)
1|2,070
1,542|
|Student Bursaries &Grants|2,455|80||(26)|(79)|2,430|
|Teaching
Fund
Other Funds|794
3975|27
128||(8)
~36|~39|813
4028|
|Total Endowment
Funds|53,495|8,660||(563)|(2,199)|59,593|
|Restricted Funds|||||||
|Fellowships
Research Support|||(763)
(2)||763
2||
|Scholarships|||(116)||116||
|Studentships|||(45)||45||
|Donated Collection
Library &Book Conservation
The Marriott Trust|||(4)
(13)
(10)||4
13
10||
|Visiting Fellows|||(30)||30||
|Student Bursaries &Grants|||(34)||34||
|Teaching
Fund|||(3)||26|25|
|The Fabric Fund
Other Funds
Total Restricted Funds|1,499
1 690
3,189|250
439
689|(1,064)
~543
(2,627)||(186)
81
940|499
1,667
2,191|
|Unrestricted
Funds|||||||
|General Reserve|858|8,162|(9,352)||1,523|1,191|
|Fixed Assets Designated|33,753||(1,007)|||32,746|
|Designated
Reserves|4,583|||250||4,833|
|Pension Reserve
Subsidiary|(1,539)|455|(1,942)
~191||~264|(3,481)|
|Total Unrestricted
Funds|37,655|8,617|(12,492)|250|1,259|35,289|
|Total Funds|94,339|18,186|(15,119)|(313)||97,073|
##
##
|Endowment
Funds||At 31 July|Incoming|Resoumes|Gains I|Transfers|At 31 July|
|---|---|---|---|---|---|---|---|
|||2020
8'000|Resources
5'000|Expended
2'000|(Losses)
5'000|L'000|2021
F'000|
|Permanent||||||||
|Fellowships||14,562|494||2,227|(477)|16,806|
|Research Support||1,025|35||157|0|1,217|
|Scholarships||2,405|81||368|(55)|2,799|
|Studentships||1,104|37||169|(30)|1,280|
|Donated
Collection||1,252|42||192|(2)|1,484|
|Library 8 Book Conservation||486|16||74|(11)|565|
|The Marriott Trust||872|29||133|(8)|1,026|
|Other Funds||626|32||96|(29)|725|
|Expendable
GeneralFund||8,008|270||1,225|(1,584)|7,919|
|Fellowships||7,734|264||1,183|(250)|8,931|
|Visiting Fellows||1,701|57||260|37|2,055|
|Gardens
and Grounds||1,243|55||190|(24)|1,464|
|Student Bursaries|&Grants|2,107|71||322|(45)|2,455|
|Teaching
Fund
The Fabric Fund
Other Funds||668
1,511
3020|25
52
519||102
231
462|(1)
(1,794)
~26|794
0
3,975|
|Total Endowment
Funds||48,324|2,079||7,391|(4,299)|53,495|
|Restricted Funds||||||||
|Fellowships||||(679)||679||
|Research Support
Scholarships||||(0)
(53)||0
53||
|Studentships
Donated Collection||||(30)
(3)||30
3||
|Library &Book Conservation||||(11)||11||
|The Marriott Trust||||(8)||8||
|Visiting Fellows||||(11)||11||
|Student Bursaries|8 Grants|||(30)||30||
|Teaching
Fund||||(1)||1||
|The Fabric Fund
Other Funds||1 586|1,500
528|(3,019)
~489||3,018
65|1,499
1 690|
|Total Restricted Funds||1,586|2,028|(4,334)||3,909|3,189|
|Unrestricted
Funds||||||||
|General Reserve||(808)|8,497|(7,777)||946|858|
|Fixed Assets Designated||34,803||(1,050)|||33,753|
|Designated
Reserves
Pension Reserve
Subsidiary||4,683
(1,581)
211|11|42
~10|244|(344)
~212|4,583
(1,539)|
|Total Unrestricted|Funds|37,308|8,508|(8,795)|244|390|37,655|
|Total Funds||87,218|12,615|(13,129)|7,635||94,339|
##
##
|The following
is a summary ofthe origins and purposes ofeach ofthe Funds.
Permanent
Endowment
Funds|||
|---|---|---|
|Fellowships:
A total of14funds where income, but not capital, is used to support fellowships.|||
|Research Support: A donation
where income, but not capital, is used to support research.|||
|Scholarships:
A total of8funds where income, but not capital, is spent on student scholarships.|||
|Studentships:
A donation
where income, but not capital, is spent on studentships
in a named subject area.|||
|Donated Collection: A bequest where income, but not capital, can be used to conserve a donated collection.|||
|Library and book conservation:
Donations
and bequests where income, but not capital, can be used to support
book conservation
and preserve the Old Library.|||
|The Marriott Trust: Adonation where income, but not capital, can be used tosupport the education ofthe children
ofthe clergy.|||
|Other Funds: Donations
and bequests where income, but not capital, can be used for general purposes.|||
|Expendable
Endowment
Funds|||
|General Fund: A consolidation
ofbenefactions
and donations
where either income, or income and capital, can
be used for the general purposes ofthe College.|||
|Fellowships:
A total of5funds where the income and capital can be applied to support named
conjunction
with the University
ofOxford.|Fellowships|in|
|Visiting Fellows: A donation where the income and capital can be applied to support
visiting fellows.|||
|Gardens and Grounds:
A consolidation
ofbenefactions
and donations
where either income, or|income and||
|capital, can be used for expenses
relating to the upkeep ofthe gardens
and grounds.|||
|Student Bursaries and Grants: A consolidation
ofbenefactions
and donations
where either income, or income|||
|and capital, can be used for student bursaries
and scholarship
grants.|||
|Teaching Fund: Aconsolidation
ofbenefactions
and donations
where either income, or income
can be used to support teaching.|and capital,||
|Other Funds: A diverse group ofdonations
and bequests where either income, or income and capital, can be
used for specific purposes
including
support for fellowships
and students.|||
|Restricted Funds|||
|Fellowships:
Income used to support named tutorial
and research fellowships.|||
|Research Support: Income used to support research
in a named subject area.|||
|Scholarships:
Income that can be spent on student scholarships.|||
|Studentships:
Income that can be spent on studentships
in a named subject area.|||
|Donated Collection: Income used to conserve adonated collection.|||
|Library &Book Conservation:
Income used to support book conservation
and preserve the Old Library.|||
|The Mardiott Trust: Income used to support the education
ofthe children ofthe clergy.|||
|Visiting Fellows: Income used to support
visiting fellows.|||
|Student Bursaries and Grants: Income that can be used for student bursaries
and scholarship|grants.||
|Teaching Fund: Income used to support teaching.|||
|The Fabric Fund: Income that can be used for the maintenance
ofhistoric buildings.|||
|Other Funds: A diverse group of income and donations
to support student
activities, fellowships,|research, the||
|Library, archives, upkeep ofthe gardens and maintenance
projects.|||
##
##
##
##
|ANALYSIS OF NET ASSETS B|ETWEEN FUNDS|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|2022|
|||Funds|Funds|Funds|Total|
|||F'000|6'000|L'000|8'000|
|Tangible fixed assets||32,945|||32,945|
|Property investments||4,833|||4,833|
|Securities and other investments||||46,416|46,416|
|Net current assets||992|2,191|13,177|16,360|
|Defined benefit pension scheme|liability|(3,481)|||(3,481)|
|||35 239|2,191|59593|97,373|
|||Unrestricted|Restricted|Endowment|2021|
|||Funds|Funds|Funds|Total|
|||8'000|F'000|f.'000|F.'000|
|Tangible fixed assets||33,753|85||33,838|
|Property
investments||4,583|||4,583|
|Securities and other investments||||46,983|46,983|
|Net current assets||858|3,104|6,512|10,474|
|Defined benefit pension scheme|liability|(1,539)|||(1,539)|
|||37 355|3,189|53,495|94,339|
##
##
##
|TRUSTEES' REMUNERA|TION
(continued)|||||
|---|---|---|---|---|---|
|||2022||2021||
||Number ot|Gross|Number of||Gross|
||Trustees|Remuneration|Trustees||Remuneration|
|E5,000 —E5,999|||1||5,258|
|B!,000 - BI,999||8,343||||
|Bl,ooo - BI,DDD||9,197||||
|E10,000 - 210,999|||||10,738|
|E11,000 - E11,999|||||23,511|
|E12,000 —f12,999|||||12,087|
|213,000 - f13,999|||||13,245|
|E14,0DO —214,999||14,638|||14,524|
|f15,000 -E15,999||30.424||||
|E16,000 —f15,999|||||32,918|
|217,000-217999||17,113||||
|f18,000 - f18,999|||||18,178|
|E22,000 - f22,999|||||22,3'74|
|223,000 -f23,999|||||23,260|
|f24,DDD - f24,999|||||121,744|
|225,000 —f25,999||128,880|||76,5O3|
|226,000 —E26,999||52,546||||
|827,000 - E27,999||27.243|||54,544|
|E28,0DO -228,999||85,109||||
|E32,000 - E32,999|||||32,978|
|E33,000 - 233,999|||||33,938|
|f34,000 - 234,999||34,720|||34,220|
|E35,000 - 235,999||35.056||||
|E37,000 - f37,999||37,751||||
|f39,000 - 239,999|||||39,035|
|242,000 - 742,000||85,564||||
|246,000 - 246,999||46,475|||92,726|
|247,000 —247,999||47,277||||
|249,000 —249,999|||||49,110|
|f50,000 —E50,999||50,839|||50,379|
|851,000 - E51,999|||||102,040|
|E53,000 - E53,999|||||53,317|
|f55,000 - E55,999||111,355|||55,568|
|256,000 - f56,999||56,472||||
|f58,000 - f58,999|||||58,764|
|f59,000 —E59,999||59.5D1||||
|Bio,ooo - 260,999|||||182,089|
|E81,000 - 261,999|||||61,441|
|263,000 -E63,999||63,950||||
|E65,000 - f65,999||85,077||||
|BI6,000 - E66,999||133,881|||66,966|
|f67,000 —767,999||67,460|||67,104|
|Bi8,000 - BI8,999||136,915|||68,971|
|BI9,000 - E69,999||8$,993||||
|770,000-E70,999||70,034||||
|E87,000 - B!7,999|||||87,020|
|E95,000 —295,999||95,001||||
|7101,000 - f101,999|||||101,427|
|2105,000 —f105,999
5136,000 - f136,999||tl,t75|||105,494|
|||1,776,787|45||1,771,571|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##