Registered as a charity.. 1150037 Worcester College Oxford Endowment Trust FINANCIAL STATEMENTS for the year ended 318t October 2022 WORCESTER COLLEGE OXFORD ENDOWMENT TRUST INDEX Page Charity inforThtion Trustees, report Re￿￿t of the audltor Prlnclpal aC(￿ntIng polic188 ststement of Flnanclal Activlties 10 BalarK* sheet 11 Statement of c88h ffl¢y 12 Nol88 to th8 finandal 8talement8 13 WORCESTER COLLEGE OXFORD ENDOWMEKf TRUST cHAR￿y INFORMATION Tru8tee8: Mr D Isaac Mr D Kemper Mr D Loevner Sir Lindsay Owen-Jones KBE Mr M Paisner Rt Hon. Slr Tlmothy Salnsbury Dr J Scott Sc#Jllion Mr 8 Wigmore Charlty Addre88'. Worcester College Walton Street Oxford OX12HB Charity Regi8lralion Numbér: 115(KJ37 Bankers.. The Royal 8ank of Sco118nd Customer SeNice Centre Drummond House 1 Redheugh8 Avenue Edlnburgh EH12 9JN Audltor.. Cril¢hleys Audlt LLP Chartered Accountant8 Beaver House 2&38 Brldge Stre8t Oxford OX12EP WORCESTER COLLEGE OXFORD ENDOWMENT TRUST TRUSTEES, REPORT The Trustees present their report together wllh financial slatsmenls for the year ended 31 October 2022. Worcester College Oxford Endowment Tnjsl is a registered charity governed by ils Trust Deed dated 29 Oclober 2012. Prlnclpal a¢tlvltle¥ and obJ•otlvo• The princlpal objectives of the charlty affj= 1. lo provlde financial and material a$8lst8nce. enc￿ragement and Sup￿1 to and for the advancement of education, religion. le8mlng and research, al Worrlster College., 2. to preserve and maintain the fabdc and contents of any buildlngs, groun(18 and land held by Worcosler College,- and such other charitable purposes as are connected with th8 advancement of education, rellgion, learning and research as shall in the opinlon of the Trustees from lime to time be condudve or complementary to the advancement and support of Worcester Colleg8. Organl8atlon The Trustee8 have mel once in the perlLhY. Adminlstrallon 8nd aceounllng 8UPPOrt 18 provided lo the charlty by Worcester Colleg8. Th8 day-to-day management 18 delegated lo Mlke Huggins, Finance and E8tale$ Bursar. R•lat•d partl Worcester College will be the main beneficiary from Ihe Trust and the Trust's principal objects've Is to provlde grants to the Cdlege for vadou8 acllvits'e8. BuBln•u and fln•ncl•l r•vl•w The prln¢lpal acllvlty of the Trust is the prov18ion of grant8 lo Worce8ter College, for varlou8 activikn'es. Each ye8r the Trustees of Worcester Cdlege Oxford Endowment Trust will make a grant lo the College for activities which are worthy of support and a￿ in xcordance with the Trust's object5. The Trustees will approve the grant for the year lakirffJ into a¢¢ounl the projected income for the year and brought forward reserves which are availab18 for d181rfbullon. Golng conc•m After maklng appropriate enquir6e8, the Trustees have a reasonable expectation that the charity ha8 adequate r6sI)urces to continue in Operational existence for the foreseeable futu￿. For this reason, they continue lo adopt the going concem basls in preparing th8 finandal statements. Further details regarding the a¢Jopllon of the going concem basss can b8 found in the Accounllng PolScles. Achl•vom•nt8 and ￿￿orMance The TNSt'S Principal funding sources are donations. During the year the Trust received donations of £736,273 (2021.. £68). The total market Value of Ihe Trust'5 Investments was £14.879,372 al 31 October 202212021, £15,519,852), Publlc b•ndlt roporting The Tru8te8s confim that they have complied with the duty in Section 1715) of the 2011 Charities Act to have due regard lo publlc benefit guldance published by the Charity Commission. WORCESTER COLLEGE OXFORD ENDOWMENT TRUST TRU8TEES' REPORT Trust0• InduGtlon and Tralnlng Trustees are fully briefed when app￿nted arh4 if further training 18 required this is arranged as necessary. InvoBlmont P•rformanG• The objectlve of the Tnjst's investsnent policy Is lo athieve a nsing level of incorne which increases suffiC￿n11Y lo counleTacl the impact of inflallon arKI to meet the Tfust's prfn¢lpal activity of the provision of grants to Worcester College, while al the 8ame lime ensuring long lem capltal growih of the Trusvs inve8lm6nt portfdlo. Rl•k •tat•m•nt The Trustees have identified the main ri8ks lo whi¢h lh6 Charity is exp)8ed. Systems and procadure$ are being developed to miligale these risks. Flnanclal rl8k aB8e88mant Al present the financial risks to which the chartty Is exposed are managed by rI8k dbverslfficatlon and liquidlty. The majority of the financial assets are cash funds held at the bank and investments with MFS Investment Management Company and Oxford University Endowmonl Management. The Charity seeks to ensure sufficient liquidity is available to meet foreseeable ne6d8. The Charity aims lo hold ¢ash deposils and liquid inveslments whlch are adequate lo ensure that volallllty In short term income should not impact on expenditure and lo ensure that the Charity is able lo continue In Its currenl manrw should unforese events arise. R￿•r¥￿ pollcy The Trust ha8 the powar under Its Trust Deed to accumulate income for a period of 21 years from 29 October 2012. The Iruslees have reviewed the ch8rity's need for reserve8 in line with the Charity Commisslon guldellnes. The nomial policy ig lo hold unreslricled re8erv85 lo protect against the nsk8 of shortfa119 In cash balances due to uncert8intie8 in th8 liming of fundrai8ing opportunitie8 for unresth'cted funds. On 31 October 2022 the charity held the followlng Re6eNes'. Unreglricted general funds Restricted fund8 R8serves al 31 October 2021 9,82g,186 15,039,052 Fundlng The charity's assets are avallable and adequate lo fvlfil its obligats'ons. Tru8t••s The trustees. who h8ve 8erved during the year are listed below, Mr D15aac Mr D Kemper Mr D Loevner Sir Lindsay iknn-Jones KBE Mr M Paisner Rt Hon. Sir Timothy Sainsbury Dr J Scott Scullion Mr B Wlgmore WORCESTER COLLEGE OXFORD ENDOWMENT TRUST TRUSTEES, RÉPORT stat•m8nt of Trusteo8' rasponslblllU•• The Trustee8 are responslble for preparing the Trustees, Report and the finanaal statements in a¢cor(lance with applicable law and United Kingdom AC￿ntIng Stsndards (United Kingdom Generally Accepted Ac¢ounllng Practice). The law applicable to charitres in England and Wales requi￿9 the trustees to prepare fina￿81 statements, for each financial year, ￿lch give a true and fair view of the slate of affairs of the charity and of tho incoming resources and applicabon of resources of the charity for that period. In preparing th88e flnancial 8tal8ments, the Iruslees are required lo.. Selecl suitable accounting pollcles and then apply them cons18tenlly', ob8erva the methods and prin¢lple3 in the Charities SORP.. make judgement¥ and ¢$iimale5 that are reasonable and prudent.. 6ts18 whether applie4ble accounting standards hav8 been follthved. Sub￿1 to any rnalerfal departure8 dlsclosed and explained in the financlal statemen18.' and prepare the financlal statements on the golng concern basls unle88 1118 inapproprlate lo presume that the charlty will conllnue In buslnes6. The trustee8 are re8pon8ibl8for keeping proper a¢countlng records that ¢Ji8cIose vAth reasonable accuracy 81 any lime th8 financial position of the Charity and enable them to ensure that the financial staternenls comply with the Charflies Act 2011, the Charty (Accnunls and Reports) Regulations and the provisions of the Trust Deed. They are 8180 responsible for safeguardlng the a¥sels of the Charsty and hence for taking reasonable steps for the prevention and detection of fraud and other irregulariti85. the trustees and signed on thelr behalf by.. D8vld Loevn8r Date WORCESTER COLLEGE OXFORD ENDOWMENT TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WORCESTER COLLEGE OXFORD ENI)OWMENT TRUST Ind•pend•nt auditor's r•port to th• trustws of Worc•8t•r College Oxford Endwmont Trust Oplnlon We have audited the financial statements of Worcester College Oxford Endowment Trust I'the charlV> for the year ended 31 October 2022 whSch Gompris8 the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and notes to the financial Statements. including Significant accounting policies. The financial r8porting framework that has been applied in th8Sr preparatlon Is appllcable law and Unlted Klngdom Accounting Standardg, i￿luding ￿FR 2 The Flnanclal R&poffjng standard applicabl8 In th8 UK and Republic of Ir91and (United Kingdom Generally Accepted Accounting Pr8cllc8}. In our opinion, the financial 81atement8'. 'glve 8 true end falr view of the state oftho charlty'S affairs 88 8t 31 October 2022 and of bts incoming resOU￿e$ and 8pplIca￿On of re80urce8 for the y88r then ended". .h8ve been properly prepared In accordance with Unitsd Kirydom Generally Accepted Accountlng Practice., and .have been prepared in 8ccord8nc8 wlth th8 requirements of The Charltles Act 2011. Ba•1• for oplnlon We corKluct8d our audlt In accordance with Intematlonal Standard8 on Audlilng (UK) IISAS {UK)) and appllcabla18w. Our re8ponslbllllles under those 8t8ndardB are fijrther de8cribgd In the Audltor'8 r8sponsibilltles for the audlt of the flnancial statements 8ectlon of our report. We are Independent of the chartty In accordance with the ethlcal requlrements that are rèlevant to our audit of the financial gtstements Sn the UK, induding the FRC'8 Ethical Stsndard arKI we have fulfilled our other ethical responsibilities in accord8nc8 ￿￿th these requirements. We belleve that the audit evldence have obtslned 16 8ufficienl and appropriata to provlde a ba818 for our oplnlon. conclu￿OnI rgl•tlng to golng COn￿M In 8udttln9 the financial 8tst8ments. we have concluded that the dlrectorf8 U8e of the going corK8m ba818 of accounting in th8 preparation of the finandal statements18 approprfats. Based on the vnrk have perfomed, ￿ have not identified any materfal uncert8intle8 r&181ing to events or conditlon8 that. Indlvidually or collectlvely. may cast signlficant doubt on the Char6ty'8 ability to continue a8 a going concem for a period of 8t least 12 rnonths from when the financial statements are authorised for issue. Our re6pon6lbilities and the respon81bllltle8 of the directors wlth respect to golng con(xrn are descdb&d In the relevant sectlons of thls report. (Xhor Informatlon The other infonnation compri8eB the inlonnatlon Induded In th8 annual rerK)rt. 5ncluding the tru8tee$' report, other than the financial statements and our 8uditorfs report thereon. trustees are rèsponsible for the other infomiatlon contained wllhln the annual report. Our opinion on the financial statements does not cover Ihe other infomation and. except to the extent othep•vise expliatly stated in our report. we do not express any fonn of assurance conclusion Ihereon. Our re8ponslbility is to read the other info￿a￿on and, in dolro so, con8lder whether the other inforniation is materially inGon8i8tent with the financial statements or our knowledge obtalned In the course of the audit. or otherwise appears to be materially misstaled. If we identify such material incon5iStencies or apparent material misststements, we are requir8d to detennine whether this gives rise to a matsrial misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there Is a materlal mlsstatement of this other information. we are required to WORCESTER COLLEGE OXFORD ENDOWMENT TRUST INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF WORCESTER COLLEGE OXFORD ENDOWMENT TRUST r8PKJrt that faGt. We have nothirKJ to rep)rt in this regard. Mattors on whlch wo arg r•qulrod to rnport by 9X￿PtIon In the light of the knowledge and under8tarKling of the charfty and its environment obtairEd In Ihe course of the audit, we have not identified material misstatement8 in the trustees, report. We have nothing to rewrt In respect of the following matters in relation to which the Chariles (Accounts and Reports) Regulations 2008 rèquire us to r8POrt to you if. in our opinion.. •th8 inforniation glvon In th8 trusts88' report is Incon8lStent In any malerlal re8P8Ct vlth th8 financlal statements: or •8ufficlent accounting r8cord8 have not b88n kept: or •the financlal ststements ar8 not In agreement wth the accounting records,. or e h8v8 not received all the information and explanation8 we requlre for our audit. R••pon•lbllltl•• of trusto•• A8 explainad more fully in the trustees, respon81blllle8 8tatement 881 oui on page 5, the trustees are respon8ibl8 for the prepar8tlon of the financial statem8nt8 and for belng satisfied that they glve a true and falr view. and for such Intemal control a8 the truste88 dèt8nnlne 18 necessary to enable the preparatlon of flnanci81 st8tement8 that are free from m8t8rlal mi88tatement. whether due to fraud or error. In pr8paring the financial statements, the trustees are reswnsible for a888sslng the chaty's abillty to continue a8 a going concem, dSscloslng, as applic8ble, matter8 related lo golng concern and uslng the golng concem b88is of accountlng unle88 the tru8t888 elthér intend to liquidate the charlty or to cea8e operatlons. or have rK* rea118tlc attema￿ve but to do 80. Audltorf• ro•ponslbllltl•• for th• audlt of lh• fln•nclal stat•m•nt8 We have been appolnted 88 8udltor under Sectlon 144 Charitle8 Act 2011 and report In accordance wlth the Act arKI r8lev8nt regulation8 made or h8vlng effect thereunder. Our objectives are to obtain r8asonabl8 assurance about whether the flnanclal 8tatement8 a8 8 whol8 are free from material misstatement, whether due to fraud or error, and to188ue an audltor's report that Includes our opinion. Reasonable 858urance 18 a hlgh level of assurance, but Is rK)l a guarante& that an audlt conduct6d In ac¢ord8nce wlth ISAS {UK) wlll a￿ayS det8d 8 materlal ml88tatement when it exists, Mlsstatement8 Gan arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expocted to influence the economic decisions of users taken on th8 basi8 of these financlal statements. Irregul8ri1ies. Including fraud. are instances of non-compliance wlth Saws and regulatlons. We dèsign procedures in Ilne with our responsibllities, outllned above, to d8tsct mat8rial misstatements in respect of irregulariti88. including fraud. The extent to which our procedures aro capable of detecting irregularities, including fraud is detailed below.. the engagement partn8r ensured that the éngagement team collectively had the appropriat8 comp6t8nc8, capabilities and 8kills to Identify or recognise nonwcomplianc8 with applicable laws and regulations., wo identified the laws and regul81ions appllc8ble to the charity through di8cussions with directors and other management, and from our kn￿￿dge armj experien¢e; we focu8ed on 8peclfic laws aThJ regulations which we con8idered may have a direct materfal effect on the fin8nclal statements or the operatlons of the charity. WORCESTER COLLEGE OXFORD ENDOWMENT TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WORCESTER COLLEGE OXFORD ENtK)WMENT TRUST we assessed the extent of compliance with the laws and regulations identif￿d above through making eTh]uiii8s of management and in$pe¢ting legal correspondence where applicable,. and Idenlrfled laws and regulations were communicated within the audit team regularty and the team remalned alert to Instances of non-compliance throughout the audit. We assessed the su8ceptibility of the charity'8 finanGial statements to material mlsstatement, IncI￿JIng obtsining an understanding of how fraud mlght occur, by: making enquiries of management as to where they considered there was 8U8C8ptibility to fraud. thelr knovledge of actual, SU8￿ted and alleged fraud., ¢on8idering the intemal controls In place to mltlgate rl3k8 of fraud and non-compliance with laws arKI regulations,. arKI To addr888 the d3k of fraud through Management bias and override of controls. We: P8rfonn8d analytical procedures to ld8n￿fy any unusual or unexp8Cted r8latlon8hip8: te3t8d loumal 8ntrle8 to idenlify unusual transactions., 8888888d wheth8r ludgem8nt8 and a88umptlon8 made In detsmilnlng the accountlng 88tlmate8 wer8 indicative of Wentl81 bla8: and Investigated the rationale behind 81gnlficant or unusual tran88ctlon8. In r88pon88 to the r18k of Irregularft688 and nonrycompllance wlth law8 and regulations, we d88bgned procedures which included, but were not Ilmlted to: agreelng financlal ststement disc108ur88 to underlylng supporting docum8ntatlon; reading the mlnirtes of meetings of th08e charged wlth govemance,, enquldng of management a8 to actual and pot8nl81 Ililgatbon and daim8,' reviewing relevant correspondence. There ar9 inherent Ilmltations In our audlt procedures descrfbed above. Thè mora r8mov8d that lawB and regulations 8re from fin8nclal Iran8actions, the less likely it 18 that we would become aw8re of non- compliance. Audltlng slandards also limit th8 audlt procedures required lo identify non-compllance with laws and regulations to enquiry of the direotor8 and other management and the inspeGtion of regulatory and legal correspondence, if any. Material misstatement8 that arlse due to fraud can be harder lo detect than th088 that 8ri8e from error as they may involve deliberats concealment or colluslon. A further descrtption of our r88ponsibiliti85 for the audit of the financial statements is hxated on the Finanaal Reporting Council's website at.. Mvw.frc.o .ukla nsibilities. This dgscription foms part of our 8uditorfs report. Critchl8ys Audit LLP is eligible for app)Intrnent as audltor of the charlty by vlrtue of its eligibility for appolntrnent as aimjitor of a company under Sectlon 1212 of the Companies Act 2006. Uso of our report This report is made solely to the charity'5 Irustees. as a body, in accordan￿ wtth the Charllles Act 2011. Our audit work has been undertaken so that we might state to the truslees those matters we are required to state to Ihem in an auditorfs report and for no Other purpose. To the fullest extent pemiitted by law, we WORCESTER COLLEGE OXFORD ENDOWMENT TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WORCESTER COLLEGE OXFORD ENI)OWMENT TRUST do not accept or assume responsibility lo anyone other than the charity'8 trustees 88 a tK)dy, for our audit work, for this report, or for the opinions we have forrned. Critchley8 Audit LLP, Stslutory Audltor Beaver House, 2&38 Hythe Brldge Street Oxford OX12EP 13 June 2023 WORCESTER COLLEGE OXFORD ENDOWMENT TRUST PRINCIPAL ACCOUNTING POLICIES Basi8 of pr•parntion •nd usMxm•nt of going conc•m The financial slalements have been prepared under the historical cost convention, in accordance with Accounting and Reporb"ng by Charities.. Slat8ment of Recommended Practs'ce applicable to charits'es preparing their accoLbnts in accordance with the Financial Reporting Stsndard appliGqble in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191- {Charilies SORP IFRS 102}I, and Il* Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). The Trust Is a public benefit entity undèr FRS102. The Iruste8s consider that there a￿ no malertal uncertainJe$ about the Trust's ability to continue as a going concern. With ￿SpeCt to the next reporting period. 2022-23. the most slgnrficant ar8as of uncertalnty that affe¢t the carrying valua of as88ts held by the Trust are the level of investment return and the performance of Investmenl markets. Income recognltlon All irttime 18 recogni88d once the Trust ha8 enllllement to the income, il is probable that the Ino)me wlll be recelved and the amount of Income receivable can bo measured rollably. Donations are recognised when the Trust has been notified in writing of both the amount and seldemenl dale. In the event that there are donor-imposad restn'clion8, recognib'on Is deferred until the pre-condition has been mel. Lagacy gifts are recognlse(l on a cA8e-by-ca8e bas18 foll(Y4ving the granting of probate vthen the admlnlstratorlexecutor for the eslale has communlcaled in wrlllng both the amount and settlement dale. In the event that the glft Ss In the form of an a8sel other than ca8h, r8cognMon18 8ublecl lo the value of the glft b8ing rellably measurable wllh a degree of reasonable accuracy and the tllle to the a88et havlng been transferred lo the charity. Interest on funds held on deposlt18 Induded Wtr￿n reco1va￿e 8nd tho amount can be measu￿0 rellably by the charlty. Dlvid8fKI8 are recognised onc• the divSd8nd has been deda￿d and nolhlcallon has been received of the (Ilvldend due. Intangibl6 In￿Me is valued and in¢ludad in Income lo the exlenl that it represents goods or service8 ￿1¢h would othe￿iSe be purchased. An equivalent amount is Gharged as expenditu￿. Voluntary helpls not induded in income. Exp•ndltur• r•Mgnltlon Liabilities are recognlsed as expenditu￿ as socm as the￿ is a legal or conslructlve obllgatlon commlthng the ¢hanty to that expenditure, 11 Is probable th81 settlement will be required and the amount of the obligation c2n be measured ￿lIably. l expendlture Is accounted for on an accruals baslg and is inclusive of any irrecoverable VAT. AII expenses Ilncludlng support costs and governance costs) are allocated or apportioned lo the f(AlowirvJ appllcable expenditure headings'.- expendlture Ir￿Urred direcuy lo the fumlmenl of the chariWs objectiV88 (charitable activities) expenditu￿ incurred direcuy in the effort lo rai8e voluntary conlributsons (costs of generating voluntary income) Items of expenditure invdving mor8 than one cost category are apportioned on the basis of the estirnaled costs relating lo each category as appropriate. WORCESTER COLLEGE OXFORD ENDOWMENT TRUST PRINCIPAL ACCOUNTING POLICIES Governance costs are costs a8soclated ￿th the governance arr8ngements of the charity which relate to the general njnning of the charity as opposed to those cvtsls associated wlth fundraising or charilatAe activity. Governance costs indude exlemal audit, legal and professional fees, remuneration to trustees and costs a$so¢ialed with c4Jnsb'lulional and stslutory Trquirem8nls. Also inclu(led within thig category a any cosls asso¢iat&J wlth the 8tratwc management of the chartws xtmlles. Corporatlon tax and VAT The charity ha8 charila￿e status andls exempl from corporatlon tax on the Income It has received. The tharfty 1$ not reystered for VAT. Fund accountlng Unre6trl¢led funds are donation8 and other incomirwJ r88ourc88 received or generated for expenditure on the general objective3 of the charity. The Restricted funds are to endow three fellowship8 al Worc88ler College.. the Asa 8rigg8 Humanities Fellowship, the Loevner Fellowship in Slati8tlc5 and the David Wood8 Kemwr Family Fellowship In Ewlsh Literature. Inv88tm•nt• Investments are Included In the balance 8heel 81 market valuallon. Rea1188d galn8 and 108888 on Investmen15 are calculalod as the dlff8rence betsveen sale proceeds and market value al the start of the year or Subsequent cost and are credited or charged lo the stalomenl of flnancial activitlos in the year of disposal. Unrealised gain8 and1088e8 repre8enl the movement In the market values durlng the year and are credited or charged lo Ihe statement of flnanclal aclivlties ba8ed on the markel value at Ihe year end. WORCESTER COLLEGE OXFORD ENDOWMENT TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022 Unre3tricted Restricted Endowed Funds Funds Funds 2022 2021 Total Totsl Nola INCOME ANO ENDOWMENTS FROM: Oonallons and legacles Investment Incom 736,273 211.754 736.273 331567 08 310,546 120.813 T¢)t•l Incomo 948,027 120,813 1,080,840 310,813 EXPENDITURE ON: Gen•ratlng fund• Inve8tm8nl manawent CO8t8 72 72 72 Ch•rlt•bl• •ctlvltl Grants to InsUtullons Gov8rn8nce 8nd support C08t8 413.279 3,500 238,721 050.000 3,500 570.1 Tot41 •xp•ndl¢ur• 418,851 236.721 603.572 573.422 N•t In¢orn• I l•xp•ndltur•l b•for• 531.177 {115,9081 414209 1262.8091 Net11088yoaln Inv88tmenls 1407,2271 1233,2541 {640.4811 2,936,814 N•t l•xp•ndltur•) I Incom• 123,950 1349,1621 1225,2121 2,874,005 Tran•f•r• b•tw••n fvnd• N•t mov•m•nl ITr lundi for th• y•ir 123.950 (349.1621 122S212) 2,674.005 Fund balances brought foThvard 10 9.705.236 5.559.028 10.264.264 12,590.257 Fund• c•rrfed ft*r4vard It 31 Octob•r 10 9.829.185 5.209,88fj 15.039.052 15,264.262 10 WQRCESTER COLLEGE OXFORD ENDOWMENT TRUST BALANCE SHEEf AS AT 31 OCTOBER 2022 31 October 2022 31 October 2021 Nota• FixeD AsseTS Inve8tments 14,879,372 15,519,852 CURRENT ASSETS Cash al bank 010,379 317,610 816.379 317.610 LIABILITIES Cradilors.. amounts falllng duè wlthln one year 1650,7001 1573.200) NEf CURRENT AS8eTS I (LIABIUTIES) 159.679 (255.5￿) TOTAL ASS￿8 LESS CURRENT LIABILITIES 15,039,062 15,284,282 FUNDS Unreslrlctgd 9.829.180 9.705.235 Reslrkled 5,209.800 5,559,027 Endowed TOTAL FUND8 15.039,052 15,264.282 Thefi no541 stotgmgnls wern approveil by the Tru81ee8 on date. Devld Loevner Ch8rity number.. 1150037 Thè accompanying awounllng pollrigs and notes form an Snlggr81 part of Ih8sg flnandal statements. 11 WORCESTER COLLEGE OXFORD ENDOWMENT TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2022 2022 2021 Net Income I18xpendllur•) for the repo￿ng perfod las per the statemanl of fin8ncio1 activities) Adjusteb8r 2022 9.842,e19 5.101,170 14,743,7J9 15,264.202 Unrestricted funds comprise those funds vthich the charity 18 free to use in the furtherance of the charity, prtnclp81 aclivlues. The ReslTicled funds are lo endow thre8 fellow8hlp8 al Worcester Collegè.. Asa Briggs HumanltSes Foll￿¥shIp, Ihg Logvnor TLrtar & Fellow In Sta￿811C8 and the Davld Woods Kempor Famlty Fellowship in English Literature. Unrestrfcled Fund8 Ro$lrfctfjd Funds Endowod Fund8 2022 Total 2021 Total Investments Currgnl o￿ts Current liabS1rt198 8,944.407 1,114.991 1418,779) 5.838.502 1298,811} {236,7211 14.510,909 816,379 1053,51)0) 15.519.852 317,810 1573,2001 Total nel a888ts 9.642.819 5,101,170 14,743,789 15,264,262 10 RELATED PARTIES Durlng the year the Trust made £650,00012021'. £570,000) In grants lo WOr￿star Collego, Oxlord. Durlng tho y8ar 8 trusla8, Mr B Wigmore don8t8d £736,27312021'. £0} 11 coNfiNGENT LIA8ILmES Thare w8r8 no contlngenl Ilablliii88 as al 31 October 2022. 12 CAPITAL COMMIThlENTS There were no capital ccfflmilmenls 88 al 31 October 2022. 13 POST BALANCE SHEET EVENTS There are no post balance she8t events lo r8port. 15