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## 

|<br>alary at|the|College|||||
|---|---|---|---|---|---|---|
|Date|||Pay Multiple|ofthe|Lowest full-time|equivalent|
||||CEO/Princi|al|sala||
|31"Au|ust|2021|5.60||617,374||



## 



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## 



## 

## 

## 

## 

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## 



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## 

||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2021|2020|
|||Note|f,000|f000|f,000|f000|
|Income from:||1(d)|||||
|Charitable<br>Activities|||10,321||10,321|9,569|
|Other Trading Activities|||1,239||1,239|597|
|Donations,<br>Legacies and|Grants||4|810|814|575|
|Investment<br>Income|||36||36|37|
|Other Income||||||24|
|Total Income|||11,600|810|12,410|10,802|
|Expenditure<br>on:||1(e)|||||
|Raising Funds|||124||124|119|
|Charitable<br>Activities||6(a)/(b)|9,928|942|10,870|9,607|
|Other Activities||6c|763||763|699|
|Total Expenditure|||10,815|942|11,757|10,425|
|Net Gains on Investments||10(b)|||||
|Net Income/(Expenditure)|for the year||785|(132)|653|377|
|Transfers Between Funds||18(a)/(b)|117|(117)|||
|Net Income/(Expenditure)|before||||||
|Other Recognised Gains|and Losses||902|(249)|653|377|
|Other Recognised<br>Gains and Losses|||||||
|Defined Benefit Pension Scheme|||||||
|Actuarial<br>(loss)/gain||23|523||523|136|
|Net Movement<br>in Funds|||1,425|(249)|1,176|513|
|Reconciliation ofFunds|||||||
|Fund Balances Brought Forward||18|11,117|389|11,506|10,993|
|Fund Balances Carried Forward at End ofYear|||12,542|140|12,682|11,506|





## 

## 




||||||PORTLAND COLLEGE|PORTLAND COLLEGE|||
|---|---|---|---|---|---|---|---|---|
|||CONSOLIDATED|||BALANCE SHEET AS AT 31AUGUST 2021||||
|||||Company Registration||Number 408340|||
||||||||31August 2021|31August 2020|
||||||Note||f,000|f000|
|Fixed Assets|||||||||
|Intangible<br>Assets|||||10(a)||434||
|Tangible Assets|||||10(ai)||9,929|8,764|
|Invesnnents<br>-Quoted|||||10(b)|||274|
|Other Investments<br>-|Other|than Loans|||10(c)||||
|Investments<br>-Related Parties|||||10(d)||||
|Total Fixed Assets|||||||10/63|9,038|
|Current Assets|||||||||
|Stocks||||||12|18|29|
|Debtors||||||13|549|1,173|
|Investments||||||14|2,200|2,200|
|Cash at Bank on Deposit|||||||1,952|1,540|
|Cash at Bank and in|Hand||||||290|182|
||||||||5,009|5,124|
|Creditors:- Amounts|Falling Due Within|||One Year||15|(2,406)|(1,715)|
|Net Current<br>Assets|||||||2,603|3,409|
|Net Assets Excluding Pension Liability|||||||12,966|12,447|
|Defined Benefit Pension Scheme Liability||||||23|(284)|(941)|
|Net Assets Including<br>Pension Liability||||||16|12,682|11,506|
|The Funds ofthe Group|||||||||
|Restricted Income Funds|||||18(b)||140|389|
|Unrestricted<br>Income|Funds||||||||
|General Group Funds|||||18(a)||11,726|10,884|
|Designated<br>Funds|||||18(a)||1,100|1,100|
|Unrealised<br>Investment||Revaluation|Reserve||18(c)|||74|
|Unrestricted<br>Income Funds Excluding||||Pension Liability|||12,826|12,058|
|Pension Reserve||||||23|(284)|(941)|
|Total Unrestricted|Funds||||||12,542|11,117|
|Total Group Funds||||||17|12,682|11,506|





|||||PORTLAND COLLEGE|PORTLAND COLLEGE|PORTLAND COLLEGE|PORTLAND COLLEGE||||
|---|---|---|---|---|---|---|---|---|---|---|
|PARENT||CHARITABLE COMPANY BALANCE SHEET AS||||||AT 31AUGUST|2021||
|||||Company|Registration||Number 408340||||
||||||||31August 2021||31|August 2020|
|||||||Note||f,000||f000|
|Fixed Assets|||||||||||
|Tangible Assets||||||10(a)(aii)||9,910||8,763|
|Investments<br>—Quoted||||||10(b)||||274|
|Investments<br>—Subsidiary||and Associated||Undertaking||10(c)||450|||
|Total Fixed Assets||||||||10,360||9,037|
|Current<br>Assets|||||||||||
|Stocks|||||||12|10||21|
|Debtors|||||||13|563||1,163|
|Investments|||||||14|2,200||2,200|
|Cash at Bank on Deposit||||||||1,952||1,540|
|Cash at Bank and in Hand||||||||4||14|
|||||||||4,729||4,938|
|Creditors:- Amounts<br>Falling Due Within||||One Year|||15|(2,024)||(1,528)|
|Net Current<br>Assets||||||||2,705||3,410|
|Net Assets Excluding|Pension Liability|||||||13,065||12,447|
|Defined Benefit Pension||Scheme Liability|||||23|(284)||(941)|
|Net Assets Including|Pension Liability||||||16b|12,781||11,506|
|The Funds ofthe Charity|||||||||||
|Restricted Income Funds||||||18(bc)||140||389|
|Unrestricted<br>Income|Funds||||||||||
|General College Fund|||||||18(ai)|11,825||10,884|
|Designated<br>Funds||||||18(ai)||1,100||1,100|
|Unrealised<br>Investment||Revaluation|Reserve||||18(ai)|||74|
|Unrestricted<br>Income|Funds Excluding|||Pension Liability||||12,925||12,058|
|Pension Reserve|||||||23|(284)||(941)|
|Total Unrestricted<br>Funds||||||||12,641||11,117|
|Total Charity Funds|||||||lib|12,781||11,506|





## 

||||2021|2020|
|---|---|---|---|---|
|||Note|%000|%000|
|Net Cash Provided ByOperating<br>Activities||21|2/34|863|
|Cash Flow From Investing|Activities||||
|Purchase ofProperty,<br>Plant and Equipment||10(a)|(1,962)|(1,292)|
|Proceeds From the Sale ofProperty, Plant and Equipment|||||
|Purchase ofInvestments||10(b)||(55)|
|Proceeds &om Sale ofFixed|Assets||||
|Proceeds From the Sale ofInvestments||10(b)|274|69|
|Purchase ofSubsiduary<br>net ofcash acquired||27|(164)||
|Investment<br>and Other Income||5|36|37|
|Net Cash Used in Investing|Activities||(1,816)|(1,241)|
|Change in Cash and Cash Equivalents<br>in the Reporting||Period|519|(378)|
|Cash and Cash Equivalents|at 1September 2020||3,922|4,297|
|Cash and Cash Equivalents|at31August 2021||4,442|3,922|
|Cash and Cash Equivalents|Consists of:||||
|Cash in Hand, at Bank|||2,242|1,722|
|Current Asset Investments||14|2,200|2,200|
|Cash and Cash Equivalents|at31August 2021||4,442|3,922|





## 

## 

## 

## 












## 

||||||2021|2020|
|---|---|---|---|---|---|---|
||||||f000|f000|
|2.|INCOME|FROM CHARITABLE ACTIVITIES|||||
||Educational||fees||6,265|6,269|
||Residential||fees||3,967|3,210|
||Other fees||||89|90|
||||||10+21|9,569|
||All ofthe above income was distributable|||to unrestricted|funds in both years||
|3.|INCOME|FROM OTHER TRADING ACTIVITIES|||||
||Portland|Print|||104|110|
||Furlough||||123|175|
||Polly Teach||Ltd||758||
||Other Trading Income||||253|312|
||||||1,239|597|
||All ofthe|above income was distributable||to unrestricted|funds in both years||
|4.|INCOME|FROM DONATIONS, LEGACIES AND GRANTS|||||
||Legacies||||||
||Grants||||129.40|55|
||Donations||||685.00|520|
||||||814|575|



|||2021|2020|
|---|---|---|---|
|||f000|f000|
|5.|INVESTMENT INCOME|||
||Bank Interest|12||
||UK Listed Investments|24|(7)|
|||36|37|





## 

|ALYSIS OF EXPENDITURE ON C|HARITABLE ACTIVITIES||||
|---|---|---|---|---|
||Activities||||
||undertaken|Support||2020|
||directly|Costs|Total|Total|
||f000|f000|f000|f000|
|Education|3,630|2,162|5,792|5,129|
|Care &Support|3,245|1,833|5,078|4,478|
||6,875|3,995|10,870|9,607|



## 

|6.b|ALLOCATION<br>OF SUP|P||ORT CO|S|TS|TS||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Basis of|||Care &|Activities &||2020|
||Support cost|||||allocation||Education|Support|Raising funds|Total|Total|
|||||||||f000|f000|f000|f000|f000|
||Learner Support Costs||||||Area/ usage|896|705|45|1,646|1,471|
||Corporate<br>Services||||||FTEs|874|746|70|1,690|1,329|
||Depreciation/Amortisation|||||Asset location||392|382|80|854|719|
|||||||||2,162|1,833|195|4,190|3,519|
|6.c|EXPENDITURE ON OTHER ACTIV ITIES|||||||||2021|2020||
|||||||||||f000|f000||
||Pathways<br>to Employment|||&Catering||||||530|580||
||Administrati<br>ve Expenses|||||||||233|119||
|||||||||||763|||
|7.|GOVERNANCE<br>COSTS-INCLUDED WITHIN SUPPORT|||||||COSTS||2021|2020||
|||||||||||f000|f000||
||Auditors<br>remuneration||-|Current Year||||||32|32||
||Other Professional<br>Costs|||||||||95|125||
|||||||||||127|157||
|8.|NET INCOME /(EXPENDITURE)|||||is stated aAer charging:—|||||||
||Auditor's<br>Remuneration||||||||||||
||Auditors<br>Remuneration|-|Audit|||||||32|32||
||Less: Allowance<br>included|||within Donations|||&GiAs|||(9)|(9)||
|||||||||||23|23||
||Auditor's<br>Remuneration|-||Other Services|||||||||
||Audit ofthe Charity's|Subsidiary|||Pursuant||to Legislation||||||
||Other Services Relating|||to Taxation|||||||||
||All Other Services||||||||||||
|||||||||||33|28||
||Operating<br>Leases||||||||||||
||Operating<br>Leases - all with less than|||||1 Year remaining|||||||
||Rental Agreements||||||||||||





## 

## 

||2021|2021|2020|2020|
|---|---|---|---|---|
||Number|FTE|Number|FTE|
|Education|189|153|165|126|
|Care k Support|144|127|164|141|
|General Learner Support|39|34|32|26|
|Corporate Services|23|21|25|21|
|Trading Activities|30|6|9|8|
|Fundraising|2|2|3|2|
||427|343|398|324|



## 

|loyment<br>C|osts for|the year|were:|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||%,000|6000|
|Wages and|Salaries|||8,003|7,100|
|Employer's|National|Insurance|Contributions|543|453|
|Employer's|Pension|Contributions||379|333|
|Life Assurance<br>Contributions||||35|35|
|||||8,960|7,921|



## 



|||PORTLAND COLLEGE|PORTLAND COLLEGE|PORTLAND COLLEGE||||
|---|---|---|---|---|---|---|---|
||NOTES TO THE FINANCIAL|STATEMENTS FOR||THE|YEAR ENDED|31AUGUST 2021||
|10.|FIXEDASSETS|||||||
||GROUP|Goodwill|||||Total|
||(a) Intangible<br>Assets|f000|||||f000|
||At I September 2020|||||||
||Additions|482|||||482|
||Amortisation<br>for period|(48)|||||(48)|
||Net Book Value as at 31August 2021|434|||||434|
|||Freehold||||Assets||
||(ai) Tangible Assets|Land &|Furniture|&||Under||
||Group|Buildings<br>f000|Equipment<br>f000||Transport<br>f000|Construction<br>f000|Total<br>f000|
||Cost|||||||
||At 1 September 2020|18,249|3,181||258|790|22,478|
||Additions|1,795||147|20||1,962|
||Assets upon acquisition|||21|||21|
||Transfer Assets under construction|756||34||(790)||
||Disposals|||(7)|(16)||(23)|
||At 31August 2021|20,800|3/76||262||24,438|
||Depreciation|||||||
||At 1 September 2020|11,148|2,385||181||13,714|
||Charge for Year|627||154|25||806|
||Eliminated<br>on Disposal|||(5)|(6)||(II)|
||At 31August 2021|11,775|2,534||200||147509|
||Net BookValue|||||||
||At 1 September 2020|7,101||796|77|790|8,764|
||At 31August 2021|9,025||842|62||9,929|
||FIXEDASSETS|||||||
||CHARITY|||||||
||(aii) Tangible<br>Assets|Freehold||||Assets||
||Charity|Land &|Furniture|&||Under||
|||Buildings<br>f000|Equipment<br>f000||Transport<br>f000|Construction<br>f000|Total<br>f000|
||Cost|||||||
||At I September 2020|18,249|3,181||258|790|22,478|
||Additions|1,795||141|20||1,956|
||Transfer Assets under construction|756||34||(790)||
||Disposals|||(6)|(16)||(22)|
||At 31August 2021|20,800|3/50||262||24,412|
||Depreciation|||||||
||At 1 September 2020|11,148|2,385||181||13,714|
||Charge for Year|627||148|25||800|
||Eliminated<br>on Disposal|||(6)|(6)||(12)|
||At 31August 2021|11,775|2,527||200||14,502|
||Net Book Value|||||||
||At 1 September 2020|7,101||796|77|790|8,764|
||At 31August 2021|9,025||823|62||9,910|





## 

## 

|10.|FIXEDASSETS (Continued)||||||||
|---|---|---|---|---|---|---|---|---|
||(b) Investments||||||||
||Group A Charity||||Quoted||||
|||||Investments|||Cash|Totals|
||||||f,000||f000|f,000|
||Market Value at 1 September 2020||||270|||274|
||Additions||||||||
||Disposals||||(270)||(4)|(274)|
||Revaluation||||||||
||At 31August 2021 (see notes below)||||||||
||Cost at 1 September 2020||||195|||196|
||Cost at 31August 2021||||||||
|10.|FIXEDASSETS (Continued)||||||||
||c Investments||||||||
||Charity|||||Shares in|Group Undertakings||
||Cost or valuation<br>at 1September 2020|||||||100|
||Holding<br>in subsidiary:<br>100Ordinary||shares ofKl||each [note 11]|||100|
||Additions<br>in the period: 900 Ordinary||shares at 5500 each|||||450,000|
||Cost or valuation<br>at 31August 2021|||||||450,100|
||Cost or valuation<br>at 1September 2020||and 31August 2021|||Shares|in Associated Undertaking||
||Holding<br>in associated undertaking:|2|Ordinary|shares ofKl each||[note 26]|||
||Cost or valuation<br>at 1st September 2020 and 31stAugust 2021||||||||





## 

## 


## 



## 


## 

|15.|CREDITORS - AMOUNTS FAL|L|ING DU|E|WITHIN ON|E YEAR|E YEAR|||
|---|---|---|---|---|---|---|---|---|---|
|||||||Group||Charity||
|||||||2021|2020|2021|2020|
|||||||f000|f000|f000|f000|
||Trade Creditors|||||244|173|235|144|
||Other Taxation and Social Security|||||141|107|115|107|
||Other Creditors|||||1,239|916|948|757|
||Accruals|||||782|520|726|520|
|||||||2 406|1716|2 024|1 528|
||Other Creditors include f260k (2020 - /279k) for||||Student Fees|paid in advance.||||
|16.|ANALYSIS OFNET ASSETSBETWEEN|||FUNDS||||||
||GROUP||||||Unrestricted|Restricted|Total|
||||||||Funds|Funds|Funds|
||||||||f000|f000|f000|
||Fund Balances at 31 August 2021 are represented||||by:|||||
||Intangible<br>Fixed assets||||||434||434|
||Tangible Fixed Assets||||||9,929||9,929|
||Current Assets||||||4,869|140|5,009|
||Creditors: Current Liabilities<br>Pension Reserve||||||(2,406)<br>~284||(2,406)<br>~284|
||||||||12542|140|12682|
|16b|ANALYSIS OFNET ASSETSBETWEEN|||FUNDS||||||
||CHARITY||||||Unrestricted|Restricted|Total|
||||||||Funds|Funds|Funds|
||||||||f000|f000|f000|
||Fund Balances at 31August 2021 are represented||||by:|||||
||Investments||||||450||450|
||Tangible Fixed Assets||||||9,910||9,910|
||Current Assets||||||4,589|140|4,729|
||Creditors: Current Liabilities<br>Pension Reserve||||||(2,024)<br>~284||(2,024)<br>~284|
||||||||12641|140|12701|
|17.|COLLEGE FUND AND RESERVES|||||||||
||GROUP|||||||2021|2020|
|||||||||f000|f000|
||Unrestricted<br>Funds [note 18]|||||||||
||General College Funds - excluding|Designated||Funds and Pension Liability||||11,726|10,884|
||Designated<br>Funds [note 18]|||||||1,100|1,100|
||General College Funds - excluding||Pension|Liability||||12,826|11,984|
||Pension Reserve [note 23]|||||||(284)|(941)|
||General College Funds - including||Pension|Liability||||12,542|11,043|
||Unrealised<br>Investment<br>Revaluation|Reserve [note|||18c]||||74|
||Unrestricted<br>income fund|||||||12,542|11,117|
||Restricted Funds[note<br>18b]|||||||140|389|
||Total Funds and Reserves|||||||12,682|11,506|
|17b|COLLEGE FUND AND RESERVES|||||||||
||CHARITY|||||||2021|2020|
|||||||||f000|f000|
||Unrestricted<br>Funds [note 18ai]|||||||||
||General College Funds - excluding|Designated||Funds and Pension Liability||||11,825|10,884|
||Designated<br>Funds [note 18ai]|||||||1,100|1,100|
||General College Funds - excluding||Pension|Liability||||12,925|11,984|
||Pension Reserve [note 23]|||||||(284)|(941)|
||General College Funds - including||Pension Liability|||||12,641|11,043|
||Unrealised<br>Investment<br>Revaluation|Reserve [note|||18ci]||||74|
||Unrestricted<br>income fund|||||||12,641|11,117|
||Restricted Funds [note 18bi]|||||||140|389|
||Total Funds and Reserves|||||||12,781|11,506|





## 

## 





B*l*tstt at31 August 2021
.26-

## 












## 

## 

## 

|ements:||
|---|---|
|2021|2020|
|%000|f,000|



|Woodlands<br>Adventure|Zone|
|---|---|
|Outram<br>Street||



## 

## 

||||E~ui|ment||
|---|---|---|---|---|---|
||||2021||2020|
|Copier Leases|||f000||f000|
|~Ex irin:|Within|One Year|6||6|
||Within|2 to Five Years|6||12|
||||12||18|



## 

|NCILIATION<br><br>VITIES|OF|NET MOV|EMENT|IN FUNDS TO|NET CASH FLOW|FROM O|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f000|f000|
|Net Income/(Expenditure)<br>before|||Actuarial|Gains|653|377|
|Amorti sation|||||48||
|Depreciation|||||806|719|
|Interest Received|||||(36)|(37)|
|Unrealised<br>Investment<br>Gains and|||Losses||||
|Loss / (Gains) on|Disposal ofFixed Assets||||12|5|
|Post Employment|Benefits Less Payments||||(134)|(122)|
|(Increase)/Decrease||in Stock|||11|(6)|
|(Increase)/Decrease||in Debtors|||721|(449)|
|Increase in creditors|||||253|376|
|Net Cash provided||by Operating<br>Activities|||2/34|863|









## 

## 

|FRS102VALUATION OFDEFINED BENE|FRS102VALUATION OFDEFINED BENE|FIT PENSION SCHEME|(cont.)||
|---|---|---|---|---|
|The assets in the scheme and the expected return||were:|||
||||Value ofassets at|Value ofassets at|
||||31August 2021|31August 2020|
||||f000|%000|
|Cash Accumulation<br>Policy|||7,444|7,261|
|Secured Pensions<br>in Payment|||1,271|1,340|
|Total Market Value ofAssets|||8,715|8,601|
|Present Value ofScheme Liabilities|||(8,999)|(9,542)|
|Deficit in the Scheme|||(284)|(941)|
||||2021|2020|
||||OOOO|f000|
|Actual Return on Scheme Assets|||516|392|
|Analysis ofthe Amount<br>Debited to|operating|Net Income/Expenditure|2021|2020|
||||f000|f000|
|Current Service Cost|||||
|Administration<br>Expenses|||67|73|
|Past Service Costs|||||
|Interest Cost|||14|20|
|Net Charge to Statement ofFinancial Activities (SOFA)|||81|93|
|Analysis ofAmounts<br>Recognised in Other Recognised Gains and Losses (ORGL)|||||
|Actual Return less Expected Return|on Assets||516|392|
|Experience (Losses)/Gains<br>Arising on the Scheme Liabilities|||7|(256)|
|Actuarial<br>(Loss)/Gain<br>Recognised|in ORGL||523|136|
|Cumulative<br>Actuarial Loss Recognised<br>in ORGL|||(1,949)|(2,472)|
|Movement<br>in Liabilities During the Year|||||
|Scheme liabilities at beginning ofyear|||(9,542)|(9,536)|
|Movement<br>in Year:|||||
|Current Service Cost|||||
|Past Service Cost||||(12)|
|Interest Cost|||(145)|168|
|Employee<br>Contributions|||||
|Benefits Paid|||681|(418)|
|Actuarial<br>Loss/(Gain)|||7|256|
|Scheme Liabilities at End ofYear|||(8,999)|(9,542)|





## 


## 

|FRS102VALUATION OFD|EFINED BENE|FIT PENS|ION SCHEME (|cont.)||
|---|---|---|---|---|---|
|||||2021|2020|
|||||f000|f000|
|Movement<br>in Assets During the|Year:|||||
|Scheme Assets at Beginning of|Year|||8,601|8,337|
|Movement<br>in Year:||||||
|Expected Return on Scheme Assets||||516|392|
|Employer Contributions||||215|215|
|Employee Contributions||||||
|Benefits Paid||||(681)|(418)|
|Administration<br>expenses||||(67)|(73)|
|Interest income||||131|148|
|Actuarial<br>Gain/(Loss)||||||
|Scheme Assets at End ofYear||||8,715|8,601|
|||||2021|2020|
|History ofAmounts<br>for Current|and Previous Accounting||Period:|f000|f000|
|Scheme Liabilities Amount||||(8,999)|(9,542)|
|Scheme Assets Amount||||8,715|8,601|
|Deficit Amount||||(284)|(941)|
|Experience Adjustments<br>on Scheme Liabilities||||||
|Amount||||523|136|
|%ofScheme Assets||||6.0%|1.6%|
|Experience Adjustments<br>on Scheme Assets||||||
|Amount||||||
|%ofScheme Assets||||0.0%|0.0%|
|Total Amount<br>Recognised<br>in Other Recognised||Gains and|Losses|||
|Amount||||523|136|
|%ofScheme Liabilities||||5 8%|1.4%|



## 

## 

## 



## 

## 

|||||||Fair Value||
|---|---|---|---|---|---|---|---|
||||||Book Value|Adjustment|Fair Value|
|Fixed Assets||||||||
|Tangible Assets|||||20,839||20,839|
||||||20,839||20,839|
|Current<br>Assets||||||||
|Debtors|||||97,067||97,067|
|Cash at Bank in hand|||||185,731||185,731|
||||||282,798||282,798|
|Total Assets|||||303,637||303,637|
|Creditors<br>Deferred Tax|||||(145,219)<br>~15,327||(145,219)<br>~15,327|
||||||(160,546)||(160,546)|
|Total Identifiable|Net|Assets|||143,091||143,091|
|Goodwill<br>on acquisition||(note||10)|||481,909|
|Total purchase consideration|||||||625,000|
|Cash flow from Investing|||activities|||||
|Cash consideration|paid||||||350,000|
|Less cash and cash|equivalents|||acquired|||350,000<br>~185,731|
|Net Cash Flow|||||||164,269|