## |INDEX|||PAGE| |---|---|---|---| |Charity
Information|||| |Trustees'
Report|||4-7| |Auditor's
Report|||8-12| |Statement
of Accounting||Policies|13-14| |Statement
of Financial|Activities||15| |Balance Sheet|||16| |Consolidated
Statement||ofCash Flows|17| |Notes to the Financial Statements|||18-27| |The Society ofStStephen's|The Society ofStStephen's|The Society ofStStephen's|The Society ofStStephen's|The Society ofStStephen's|The Society ofStStephen's||House|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Charity|information|||||||||||||||||||| |For the|year ended 30||||June|2021||||||||||||||| |The Society ofStStephen's||||||House is a registered||charity and|a company
limited
by guarantee,||||incorporated||||on 12th February||2018 and|| |registered||as a charity||on the 7th March 2018.The||||assets and liabilities of the||unincorporated||chadity||||309693The Society||ofSt Stephen's||House,| |formed|by|an indenture|||dated||16th August 1876and enrolled||in the High Court ofJustice||(Chancery|||||Division), were transferred|||to this new|chadity| |by deed|oftransfer||on|1st July|||2018. The previous|charity 309693is now a linked charity renurnbered||||||||as 1177459-1.It is disclosed as a restricted||||| |fund with a zero balance|||||in these accounts.|||||||||||||||| |Charity|Registration|||Number:||||1177459||||||||||||| |Address:||||||||16Marston|Street|||||||||||| |||||||||Oxford||||||||||||| |||||||||OX4 1JX||||||||||||| |The House Council Trustees:||||||||||||||||||||| |||||||||All Trustees are also Directors of the Limited|||||Company|||||||| |Chairman:||||||||The Rt Revd Dr Martin Warner*+||||||||||||| |Vice Chairman:||||||||Mr John Booth+||||||||||||| |Chairman||of the Finance and||||||The Revd|Canon Paul Armstead'|||||||||||| |General|Purposes||Committee:|||||||||||||||||| |||||||||The Rt Revd Dr Jonathan||Baker+||||||||||| |||||||||The Revd|Charles Card-Reynolds|||||||||||| |||||||||The Revd|Prebendary
David Houlding*|||||||||||| |||||||||Gregory Jones QC (to September 2021)*||||||||||||| |||||||||The Revd
The Revd|Canon Timothy
Canon Dr Robin|Pike (to September 2021)
Ward (Principal) (ex officio) *||||||||||| |||||||||Dr Mark Philpott (to October 2021)(nominated|||||||by the Academic Staff)|||||| |||||||||Dr Lindsay|Dixon|||||||||||| |||||||||Mr Luke Demetri (to September 2020)|||(nominated|||||by the|Student Common||Room)|| |||||||||Mr Michael|Dixon (from March 2021)(nominated|||||||by the Student Common|||Room)|| |+ Life trustees||||||||The Revd|Lucy Gardner
(from October||2021)|||(nominated|||by the Academic||Staff)|| |In attendance
at the||||House||Council:||||||||||||||| |||||||||The Revd|Andreas
Wenzel|(from August 2020)|||||(Vice-Principal)|||||| |||||||||Mr Michael
Mrs Alison|Dixon (to March 2021) (nominated
by
Parker (Bursar) (Company Secretary)|||||||the Student Common
*||Room)||| |||||||||The Venerable
Luke Miller||(appointed|by the||General Synod)|||||||| |||||||||Mrs Millie|Day (from March|2021)(nominated||||by||the Student Common||Room)||| |The Finance and General||||||||||||||||||||| |Purposes||Committee:||||||Members|marked *|||||||||||| |Advisors:||||||||||||||||||||| |Bank:||||||||Handelsbanken||||||||||||| |||||||||Oxford West Way branch||||||||||||| |||||||||Seacourt Tower, 2nd Floor||||||||||||| |||||||||West Way||||||||||||| |||||||||Botley||||||||||||| |||||||||Oxford||||||||||||| |||||||||OX2 OJJ||||||||||||| |Solicitors:||||||||Stone King||||||||||||| |||||||||13Queen|Square|||||||||||| |||||||||Bath||||||||||||| |||||||||Avon||||||||||||| |||||||||BA1 2HJ||||||||||||| |Auditors:||||||||Critchleys|Audit LLP|||||||||||| |||||||||Beaver House||||||||||||| |||||||||23-38 Hythe Bridge Street||||||||||||| |||||||||Oxford||||||||||||| |||||||||OX12EP||||||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Auditor's
responsibilities
for the audit ofthe financial statements||||||||| |---|---|---|---|---|---|---|---|---| |We assessed the susceptibility
ofthe charity's
financial statements
to material
misstatement,|||including||obtaining|||an| |understanding
of how fraud might occur, by:||||||||| |~making
enquiries
ofTrustees
and other management
as to where they considered|there was susceptibility|||||to fraud,||| |their knowledge
ofactual, suspected
and alleged fraud; and||||||||| |~considering
the internal
controls
in place to mitigate
risks offraud and non-compliance||with|laws and regulations;|||||| |To address
the risk offraud through
management
bias and override ofcontrols, we:||||||||| |~performed
analytical
procedures
to identify any unusual
or unexpected
relationships;||||||||| |~tested journal entries to identify
unusual
transactions;||||||||| |assessed whether
judgements
and assumptions
made
in determining
the accounting||estimates||were indicative||||of| |potential
bias; and||||||||| |~lrivestigated
the rationale
behind
significant or unusual
transactions;||||||||| |In response
to the risk of irregularities
and non-compliance
with laws and regulations,||we designed
procedures|||||which|| |included,
but were not limited to:||||||||| |~agreeing
financial statement
disclosures
to underlying
supporting
documentation;||||||||| |~eading the minutes
ofmeetings
ofthose charged
with governance;||||||||| |~cehquiring
of management
as to actual and potential
litigation
and claims;||||||||| |~ificonsidered
necessary,
reviewing
correspondence
with relevant
regulators
and the company's||||legal advisors.||||| |There are inherent
limitations
in our audit procedures
described above. The more|removed||that laws and regulations|||||| |are from financial
transactions,
the less likely
it is that we would become aware of|non-compliance.
Auditing|||||||| |standards
also limit the audit procedures
required
to identify non-compliance
with|laws|and|regulations||to enquiry|||of| |the Trustees
and other management
and the inspection
of regulatory
and legal correspondence,||||if any.||||| |Material
misstatements
that arise due to fraud can be harder to detect than those|that|arise|from|error|as they may|||| |involve deliberate
concealment
or collusion.||||||||| |A further
description
ofour responsibilities
for the audit ofthe financial statements|is located||on the Financial|||||| |Reporting
Council's website at: www. frc.org.uk/auditorsresponsibilitles.||||||||| |This description
forms part ofour auditor's
report.||||||||| ## ## ## ## ## ## ## ## ## |||||||||Restated| |---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|2021|2020| ||||||Funds|Funds|Total|Total| |||||Notes|F|||E| |INCOME AND ENDOWMENTS||FROM:||||||| |Charitable
activities||||||||| |Teaching, research|and residential||||663,450||663,450|865,757| |Donations
and legacies|||||175,874|39,500|215,374|492,348| |Investments||||||||| |Investment
income|||||16,317|6,514|22,831|29,874| |Other income||||||||| |Concert and other event income|||||29,457||29,457|90,680| |Other rents|||||87,459||87,459|174,212| |Total income|||||972,556|46,014|1,018,570|1,652,871| |EXPENDITURE ON:||||||||| |Charitable
activities||||||||| |Teaching, research|and residential|||4|1,280,092|44,155|1,324,247|1,464,596| |Generating
funds||||||||| |Fundraising|||||43,147||43,147|23,230| |Other expenditure|||||10,858||10,858|69,392| |Total Expenditure||||4|1,334,097|44,155|1,378,252|1,557,218| |Net Income/(Expenditure)|before gains||||(361,540)|1,859|(359,681)|95,653| |Net gains/(losses)
on|investments||||85,834||85,834|(105,168)| |Net Income/(Expenditure)|||||(275,707)|1,859|(273,848)|(9,515)| |Transfers
between
funds||||13|(12,929)|12,929||| |Other recognised
gains/losses||||||||| |Gains/(losses)
on revaluation||offixed assets|||357,456||357,456|| |Actuarial
gains/(losses)|on defined||benefit pension schemes|||||| |Net movement
in funds|for the|year|||68,820|14,788|83,608|(9,515)| |Fund balances
brought
forward||||13|16,062,377|280,441|16,342,818|16,352,333| |Funds carried forward
at 30June|||||16,131,197|295,229|16,426,426|16,342,818| ## |As at 30June 2021||||||| |---|---|---|---|---|---|---| |||||Company|Registration
Number:|11199178| |||||||Restated| ||||||2021|2020| ||||Notes||6|f| |FIXEDASSETS||||||| |Tangible assets|||||17,637,673|17,538,791| |Property
investments|||||994,252|994,252| |Other Investments|||||521,992|436,159| |Total Fixed Assets|||||19,153,917|18,969,202| |CURRENT ASSETS||||||| |Stocks|||||3,782|4,181| |Debtors|||10||108,696|137,894| |Cash at bank and in|hand||||528,891|576,686| |Total Current Assets|||||641,369|718,761| |LIABILITIES||||||| |Creditors: Amounts|falling due|within one year|||(378,558)|(825,455)| |NET CURRENT ASSETS / (LIABAILITIES)|||||262,811|(106,694)| |TOTAL ASSETS LESS|CURRENT|LIABILITIES|||19,416,728|18,862,508| |CREDITORS: falling due after more than one year|||12||(2,788,653)|(2,298,653)| |NET ASSETS BEFORE PENSION||ASSET OR LIABILITY|||16,628,075|16,563,855| |Defined benefit pension scheme||liability|18||(201,649)|(221,037)| |TOTAL NET ASSETS|||||16,426,426|16,342,818| |FUNDS OF THE SOCIETY||||||| |Restricted funds|||||295,229|280,441| |Unrestricted
funds||||||| |Designated
funds|||||1,152,643|1,009,893| |General funds|||||3,207,491|3,454,553| |Revaluation
reserve|||||11,972,712|11,818,968| |Pension reserve|||18||(201,649)|(221,037)| ||||||16,426,426|16,342,818| ## |||||||2021|2020| |---|---|---|---|---|---|---|---| ||||||Notes|F'000|r'000| |Net cash provided
by (used in) operating|||activities||19|(64,647)|300,284| |Cash flows from investing|activities||||||| |Dividends,
interest and rents from investments||||||22,831|29,874| |Proceeds from the sale|of property,|plant and equipment|||||| |Purchase of property,
plant and equipment||||||(5,977)|(16,240)| |Purchase
of investment|property||||||| |Proceeds from sale ofinvestments|||||||| |Purchase of investments|||||||| |||||||16,854|13,634| |Cash flows from financing|activities||||||| |Repayments
of borrowing||||||(500,000)|(10,000)| |Cash inflows from new borrowing||||||500,000|| |Net cash provided
by (used in) financing|||activities||||(10,000)| |Change
in cash and cash|equivalents|in the reporting||period||(47,793)|303,918| |Cash and cash equivalents|at the beginning
ofthe||||||| |reporting
period||||||576,685|272,768| |Change
in cash and cash|equivalents|due to exchange|||||| |rate movements|||||||| |Cash and cash equivalents|at the end of||the reporting||||| |period|||||20|528,891|576,686| |1|INCOME FROM CHARITABLE|INCOME FROM CHARITABLE|INCOME FROM CHARITABLE|INCOME FROM CHARITABLE|ACTIVITIES|ACTIVITIES|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||||2021|2020| ||Teaching, Research and||Residential|||||||||||||E|f.| ||Unrestricted
funds||||||||||||||||| ||Fees received|||||||||||||||334,390|343,350| ||Student rent|||||||||||||||325,502|362,045| ||Educational
summer|schools/conferences||||||||||||||3,557|160,362| |||||||||||||||||663,450|865,757| ||Total Teaching, Research and Residential|||||||||||||||663450|865,757| |2|DONATIONS
AND LEGACIES||||||||||||||||| |||||||||||||||||2021|2020| |||||||||||||||||E|| ||Donations
and Legacies||||||||||||||||| ||Unrestricted
funds|||||||||||||||175,874|419,116| ||Restricted
funds|||||||||||||||39,500|73,232| |||||||||||||||||215,374|492,348| |3|INVESTMENT
INCOME||||||||||||||||| |||||||||||||||||2021|2020| |||||||||||||||||E|| ||Dividends
and Interest||||||||||||||||| ||Unrestricted
funds|||||||||||||||16,317|13,662| ||Restricted
funds|||||||||||||||6,514|16,212| |||||||||||||||||22,831|29,674| |4|ANALYSIS OF EXPENDITURE|||||||||||Unrestricted||Restricted||2021|2020| ||||||||||||||Funds|Funds||E|E| ||Charitable
expenditure||||||||||||||||| ||Teaching, research||and||residential:||||||||||||| ||Academic'|||||||||||320,470||42,155||362,625|249,872| ||Premises|||||||||||461,968||2,000||463,968|564,761| ||Catering||||||||||||93,984|||93,984|112,655| ||Property
loan interest and loan break|||||costs|||||||25,769|||25,769|25,676| ||Educational
support|||||||||||369,392||||369,392|502,326| ||Bank charges||||||||||||1,258|||1,258|1,774| ||Bad debts||||||||||||||||582| ||Governance
costs||||||||||||7,250|||7,250|6,950| ||Total charitable
expenditure|||||||||||1,280,092||44,155||1,324,247|1,464,596| ||Expenditure
on raising|funds|||||||||||||||| ||Fundraising||||||||||||43,147|||43,147|23,230| ||Total expenditure
on raising||||funds||||||||43,147|||43,147|23,230| ||Expenditure
on raising|funds|||||||||||||||| ||Other rental costs||||||||||||1,523|||1,523|19,875| ||Concert and olher|evenl|||costs||||||||9,335|||9,335|49,517| ||Total expenditure
on raising|||funds|||||||||10,858|||10,858|69,392| ||Total expenditure|||||||||||||||1,378,252|1,557,218| ||The 2020 resources expended||||ofE1,557,210||represented f1,502,631 from unrestricted||||funds, E54,587 from restricted|||funds.|||| ||' These costs include the||overall movemenl|||on the||pension deficit during|the|year which|has decreased||by E19,388(2020i f70,214 increase) across the||||| ||three pension schemes,||||||||||||||||| |5|ANALYSIS OF GOVERNANCE||||COSTS||||||||||||| |||||||||||||||||2021|2020| |||||||||||||||||f|f| ||Governance costs comprise:||||||||||||||||| ||Auditor's
remuneration
-|audil services||||||||||||||4,250|4,100| ||Auditor's
remuneration
-|other services||||||||||||||3,000|2,850| ||Other governance
costs||||||||||||||||| |||||||||||||||||7,250|6,950| ||No amounl has been included|||in governance|||costs|for the direct employment||costs or reimbursed||expenses ofthe Trustees on|||the basis that these payments||relate to| ||the Trustees
involvement||in the||Society's charitable|||activities. Details of|the remuneration||ofihe|Trustees and their reimbursed|||expenses are included as a separate||| ||note within these financial||statements.||||||||||||||| ## ## |6|STAFF COSTS|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||||2021|2020| ||The aggregate
staff costs for the year were as follows.||||||||||||||f|5| ||Salaries and wages||||||||||||||475,090|487,893| ||Social security costs||||||||||||||32,819|34,295| ||Pension contributions||||||||||||||107,286|104,039| ||Pension deficit repayments||||||||||||||23,802|27,812| ||||||||||||||||638,997|654,039| ||The average number ofemployees|||ofthe Society, excluding|||Trustees,|||||||||| ||was as follows.||||||||||||||2021|2020| ||Total||||||||||||||23|26| ||The average
number ofemployees|||ofthe Society, excluding|||Trustees,|||||||||| ||on a full time equivalent|basis|was|as follows.||||||||||||| ||Total||||||||||||||10|13| ||No employee
received|more than||560,000 during||the year.||||||||||| |7|TANGIBLE FIXEDASSETS|||||||||||||||| |||||||||||||Freehold|||Fixlures,|| |||||||||||||land and|||fittings and|| |||||||||||||buildings|||equipment|Total| |||||||||||||||5|5|6| ||Cost|||||||||||||||| ||At start ofyear|||||||||||18,798,683|||743,233|19,541,916| ||Additions||||||||||||||5,977|5,977| ||Disposals|||||||||||||||| ||At end ofyear|||||||||||18,798,683|||749,210|19,547,893| ||Depreciation
and impairment|||||||||||||||| ||At start ofyear|||||||||||1,186,489|||459,180|1,645,669| ||Depreciation
charge for the year|||||||||||203,712|||60,843|264,555| ||Depreciation
on disposals|||||||||||||||| ||At end ofyear|||||||||||1,390,201|||520,023|1,910,224| ||Net book value|||||||||||||||| ||At end ofyear|||||||||||17,408,482|||229,187|17,637,673| ||At start of year|||||||||||17,612,194|||284,053|17,896,247| ||On 27 July 2016external valuers|||Carter Jonas, Chartered|||Surveyors|and Property Consultants,||valued the freehold||property|at|617,658,226.||| ||Their valuation
was prepared||in accordance||with|the R LC|S.Appraisal|and Valuation|Standards.|For accounting|purposes,||tlie valuation||was not deemed|to be| ||materially
different to the value as|||at 30June|2014, and hence was used to restate cost as at that date.|||||||||||| ||||2021|2020| |---|---|---|---|---| ||||Total|Total| |Va/uation|at start ofyear||994,252|994,252| |Additions|and improvements|at cost||| |Disposals||||| |Revaluation
gains/(losses)||in the year||| |Valuation|at end ofyear||994,252|994,252| ## ## ## ## |ANALYSIS OF NET|ASSETS B|ETW|EEN F|UNDS||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||Unrestricted
Designaled|||Restricted|2021|| ||||||||Funds|Funds||Funds|Total|| ||||||||f|6||f|6|| |Tangible
fixed assets|||||||17,637,673||||17,637,673|| |Property
investments||||||||994,252|||994,252|| |Other investments||||||||353,608||168,384|521,992|| |Nel current assets/(liabilities)|||||||(168,817)|304,783||126,845|262,811|| |Long term liabilities|||||||(2,288,653)|(500,000)|||(2,788,653)|| |Pension scheme
liabilities|||||||(201,649)||||(201,649)|| ||||||||14,978,554|1,152,643||295,229|16,426,426|| ||||||||Unrestricted
Designated|||Restricted|2020|| ||||||||Funds|Funds||Funds|Total|| ||||||||f|6||8|f|| |Tangible
fixed assets|||||||17,538,791||||17,538,791|| |Property
investments||||||||994,252|||994,252|| |Other investments||||||||257,063||179,096|436,159|| |Net current assets|||||||33,383|(241,422)||101,345|(106,694)|| |Long term liabilities|||||||(2,298,653)||||(2,298,653)|| |Pension scheme liabilities|||||||(221,037)||||(221,037)|| ||||||||16,115,172|1,009,893||280,441|16,342,81S|| |TRUSTEES' REMUNERATION||||||||||||| |Neither the trustees|nor persons|connected||with Ihem|received any remuneration||from Ihe Society,|except as below.||||| |Expenses
for travel to meetings||of668(2020:6536)and officers insurance||||of62,480 pius insurance||premium|tax (2020:72,480 )have been paid by|||the Society| |during the year.||||||||||||| |The Principal
and staff representative|||on the|Council are Irustees ofthe Society|||but receive remuneration
only||for their|academic roles. The amounts||involved are:| ||||||||||||2021|2020| ||||||||||||f|6| |Principal|||||||||||44,853|43,472| |Staff representative|||||||||||41,191|40,519| |Remuneration
is calculated as gross|||pay and employer||pension
contributions.|||||||| ## ## |18|PENSION SCHEMES|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||Church of England
Funded Pensions Scheme|||||||||||| ||The Society of StStephen's
House
participates
in the Church of England
Funded||||Pensions Scheme for stipendiary
clergy, e defined||benefit pension scheme.|||||This| ||scheme is administered
by the Church of England Pensions Board, vrittch holds the assets ofthe schemes separately
from those ofthe Responsible
Bodies.|||||||||||| ||Each participating
Responsible
Body in the scheme pays contributions||at a common
contribution|||rate applied
to pensionable
stipends.||||||| ||The scheme
is considered
to be a mutttwmployer
scheme as described|||in Section|28of FRS 102, This means
it is not possible to attribute|||the|Scheme's assets and|||| ||liabilities to each specific Responsible
Body, and this means contributions|||are accounted
for as||ifthe Scheme were a defined
contribution||scheme.
The pensions||||| ||costs charged
to Ihe SoFA in the year are contributions
payable towards|||benefits|and expenses|accrued
in that year plus the figures|highlighted||in the table||below as|| ||being recognised
in the SoFA, giving a total charge of645,500for 2021|||(2020:f37,787).||||||||| ||A valuation
ofthe Scheme is carried out once every three years. The
valuation
revealed a deficit off50m, based on assets off1,818m and|most recent Scheme valuation
completed was carried out at as 31 December 2018.The 2018
a funding
target off1,868m, assessed
using the follovriing
assumptions:||||||||||| ||An average discount rate of3,2%p.a4|||||||||||| ||RPI inflation of3N% p.a. (and pension increases consistent
with this);|||||||||||| ||Increase in pensionable
slipends
of3.4% p.a4|||||||||||| ||Mortality
in accordance
with 95%of the S3NA VL tables, with allowance
for improvements
in|||||mortality
rates in line vrith the CMI2018 extended
model||||vrith|a long|| ||term annual
rate ofimprovement
of1.5%, a smoothing
parameter" of|7|and an initial addition
to|||mortalty
improve ments of05%pa.||||||| ||Following
the 31 December 2018valuation,
a recovery
plan was put in||place until||31 December|2022 and the deficit recovery contributions||(as a percentage||||of| ||pensionable
stipends) are as set out in the table below.|||||||||||| ||%ofpensionable
stipends|||||January 2018to|January 2021to|||||| |||||||December 2020|December2022|||||| ||Deficit repair contributio|||||119%||7.1%||||| ||As at 31 December 2017and 31 December 2018the deficit recovery|contributions|||under the recovery plan
in force at that time were||11.9%of||pensionable||stipends|| ||until December 2025.|||||||||||| ||As at 31 December 2019and 31 December 2020 the deficit recovery|contnbutions|||under the recovery plan
in force were as set out in the|||above table.||||| ||For senior office holders, pensionable
stipends
are adjusted
in the calculations
by a multiple,
as set out in Ihe Scheme's rules.|||||||||||| ||Section 28.11AofFRS 102requires
agreed deficit recovery payments||to be recognised as a liability.
The nmvement
in the balance sheet|||||liability over||2019and over||| ||2020 is set out in the table below.|||||||||||| |||||||2020||2019||||| ||Balance sheet liability at 1 January|||||10,000|||68,000|||| ||Deficit contribution
paid|||||-8,000||-10,000||||| ||Interest cost (recognised
in SOFA)||||||||1,000|||| ||Remaining
change
to the balance sheet liability'
(recognised
in SOFA)|||||11,000||-49,000||||| ||Balance sheet liability at 31 December|||||13,000|||10,000|||| ||Comprises
change
in agreed deficit recovery plan, and change
in discount rate||||and assumptions
behveen
year-ends.|||||||| ||This liability represents
the present value ofthe deficit contributions
agreed as at||||the accounting|date and has been valued
using the|following||assumptions||set by|| ||reference
to the duration ofthe deficit recovery payments:|||||||||||| |||||December 2020||December 2019||||December 2018||| ||Discount rate||||0.2% pa|1.1%pa|||||2.1%pa|| ||Price inflation||||3.1%pa|2.8%pa|||||3.1%pa|| ||Increase to total pensionable
payroll||||1.6%pa|1.3%pa|||||1.6%pa|| ||The legal structure
ofthe scheme is such that
if another Responsible|Body fails, The Society of||||SlStephen's
House cauld become responsible|||for paying a||share of|| ||that Responsible
Body's pension
liabilities.|||||||||||| ## ## ## ## |23|2020 STATEMENT OF|FINANCIAL|FINANCIAL|ACTIVITIES COMPARATIVE|||| |---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|2020| ||||||Funds
6|Fundsf|Total
6| |INCOME AND ENDOWMENTS|||FROM:||||| ||Charitable
activities||||||| ||Teaching, research|and|residential||865,757||865,757| ||Donations
and legacies||||419,116|73,232|492,348| ||Investments||||||| ||Investment
income||||13,662|16,212|29,874| ||Other income||||||| ||Concert and other event||income||90,680||90,680| ||Other rents||||174,212||174,212| |Total income|||||1,563,427|89,444|1,652,871| |EXPENDITURE ON:|||||||| ||Charitable
activities||||||| ||Teaching, research|and|residential||1,410,009|54,587|1,464,596| ||Generating
funds||||||| ||Fundraising||||23,230||23,230| ||Other expenditure||||69,392||69,392| |Total Expenditure|||||1,502,631|54,587|1,557,218| |Net|Income/(Expenditure)|before gains|||60,796|34,857|95,653| ||Net gains/(losses)
on investments||||(44,887)|(60,281)|(105,168)| |Net|Income/(Expenditure)||||15,909|(25,424)|(9,515)| ||Transfers
between
funds||||||| ||Other recognised
gains/losses||||||| ||Gains/(losses)
on revaluation
offixed assets||||||| ||Actuarial gains/(losses)|on|defined benefit pension schemes||||| ||Net movement
in funds for the year||||15,909|(25,424)|(9,515)| ||Fund balances
brought|fonvard|||17,109,156|305,865|17,415,021| ||Funds carried forward|at|30June||17,125,065|280,441|17,405,506|