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||`Page`|
|---|---|
|`Trustees’Report`|`2-21`|
|`Legalandadministrativeinformation`|`22`|
|`ReportoftheIndependentAuditors`|`23-25`|
|`ConsolidatedStatementofFinancialActivities`|`26`|
|`BalanceSheets`|`27`|
|`ConsolidatedStatementofCashFlows`|`28`|
|`AccountingPolicies`|`29-34`|
|`NotestotheFinancialStatements`|`35-50`|





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|`DrElizabethKiss:`|`WardenandCEO`|
|---|---|
|`PeterAnderson:`|`ChiefFinancialOfficerandDeputyWardenforPartnershipsandOperations`|
||`(toJune2024)`|
|`LouiseDearnley:`|`DeputyWardenforSelectionandScholarAffairs`|
|`MaryEaton:`|`DirectorofScholarAffairsandRegistrar`|
|`RodolfoLaraTorres:`|`ChiefEngagementandDevelopmentOfficer`|
|`BabetteLittlemore:`|`DirectorofCommunications(onmaternityleavefromJuly24)`|
|`CatherineBeckett:`|`DirectorofCommunications(maternityleavecoverfromJuly24)`|
|`EvieO'Brien:`|`ExecutiveDirectorofTheAtlanticInstitute(toAugust2024)`|
|`DrMeganKenna:`|`ExecutiveDirectoroftheSchmidtScienceFellows`|





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|||`Unrestricted`|`Restricted`|`Endowed`|`2024`|`2023`|
|---|---|---|---|---|---|---|
|||`Funds`|`Funds`|`Funds`|`Total`|`Total`|
||`Notes`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`INCOMEANDENDOWMENTSFROM:`|||||||
|`Donationsand legacies`|`1`|`1,043`|`4,861`|`18,380`|`21,284`|`16,485`|
|`Charitableactivities`||`959`|`18,623`|`-`|`19,582`|`14,868`|
|`Othertradingactivities`|`3`|`1,270`|`-`|`-`|`1,270`|`481`|
|`Investments`|||||||
|`Investmentincome`|`4`|`659`|`997`|`1,993`|`3,649`|`2,373`|
|`Total returnallocatedtoincome`|`17`|`7,389`|`14,980`|`(22,369)`|`-`|`-`|
|`Other(foreignexchangegain)`||`30`|`-`|`-`|`30`|`:`|
|`Totalincome`||<br>`11,350`|<br>`36,461`|<br>`(1,996)`|<br>`45,815`|<br>`34,207`|
|`EXPENDITUREON:`|||||||
|`Charitableactivities:`|||||||
|`Promotionandadvancementofeducation`|`5`|`4,635`|`44,461`|`-`|`49,096`|`44,342`|
|`Raisingfunds:`|`7`||||||
|`Fundraising`||`385`|`1,943`|`-`|`2,328`|`2,710`|
|`Tradingexpenditure`||`1,307`|`75`|`-`|`1,382`|`771`|
|`Financecosts`||`801`|`-`|`-`|`801`|`200`|
|`Investmentmanagementcosts`||`2`|`300`|`1,346`|`1,648`|`1,760`|
|||<br>`2,495`|<br>`2,318`|<br>`1,346`|<br>`6,159`|<br>`5,441`|
|`TotalExpenditure`||<br>`7,130`|<br>`46,779`|<br>`1,346`|<br>`§5,255`|<br>`49,783`|
|`NetIncome/(Expenditure)beforegains`|<br>|<br> <br>`4,220`|<br> <br>`(10,318)`|<br> <br>`(3,342)`|<br> <br>`(9,440)`|<br> <br>`(15,576)`|
|`Net(losses)/gainsoninvestments`|`15`|`51`|`9,614`|`33,946`|`43,611`|`6,642`|
|`NetIncome`|<br>|<br> <br>`4,271`|<br> <br>`(704)`|<br> <br>`30,604`|<br> <br>`34,171`|<br> <br>`(8,934)`|
|`Transfersbetweenfunds`|`22`|`(4,367)`|`4,774`|`(407)`|`-`|`-`|
|`Netmovementinfundsfortheyear`||`(96)`|`4,070`|`30,197`|`34,171`|`(8,934)`|
|`Fundbalancesbroughtforward`|`22`|`14,206`|`93,484`|`403,834`|`§11,524`|`520,458`|
|`Fundscarriedforwardat30June`|<br>|<br>`14,110`<br>|<br>`97,554`<br>|<br>`434,031`<br>|<br>`$45,695`<br>|<br>`511,524`<br>|





## 

|||`2024`||`2023`||
|---|---|---|---|---|---|
|||`Group`|`Charity`|`Group`|`Charity`|
||`Notes`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`FIXEDASSETS`||||||
|`Intangibleassets`|`10`|`319`|`274`|`157`|`101`|
|`Tangibleassets`|`11`|`59,871`|`59,839`|`60,563`|`60,563`|
|`Investments`||||||
|`Pooledendowmentinvestments`|`12`|`425,321`|`407,867`|`397,143`|`380,149`|
|`Capitalprojectinvestments`|`13`|`-`|`-`|`4,547`|`4,547`|
|`Atlanticshortterminvestments`|`14`|`72,771`|`72,771`|`71,054`|`71,054`|
|`TotalFixedAssets`||<br>`558,282`|<br>`540,751`|<br>`533,464`|<br>`516,414`|
|`CURRENTASSETS`||||||
|`Debtors`|`18`|`17,552`|`17,122`|`14,453`|`15,056`|
|`Stocks`||`44`|`-`|`75`|`-`|
|`Cashatbankandinhand`||`24,477`|`23,341`|`22,192`|`21,647`|
|`TotalCurrentAssets`||<br>`42,073`|<br>`40,463`|<br>`36,720`|<br>`36,703`|
|`LIABILITIES`||||||
|`Creditors:Amountsfallingduewithinoneyear`|`19`|`(7,531)`|`(7,336)`|`(9,597)`|`(9,417)`|
|`NETCURRENTASSETS`||<br>`34,542`|<br>`33,127`|<br>`27,123`|<br>`27,286`|
|`TOTALASSETSLESSCURRENTLIABILITIES`||`592,824`|`573,878`|`560,587`|`543,700`|
|`CREDITORS:fallingdueaftermorethan oneyear`|`20`|`(30,000)`|`(30,000)`|`(30,000)`|`(30,000)`|
|`Provisionsforliabilitiesandcharges`|`21`|`(17,129)`|`(17,129)`|`(19,063)`|`(19,063)`|
|`TOTALNETASSETS`|<br>|<br> <br>`545,695`|<br> <br>`526,749`|<br> <br>`511,524`|<br> <br>`494,637`|
|`FUNDS`|`22`|||||
|`Endowmentfunds`||`434,031`|`414,343`|`403,834`|`386,840`|
|`Restrictedfunds`||`97,554`|`97,331`|`93,484`|`93,239`|
|`Unrestrictedfunds`||`14,110`|`15,075`|`14,206`|`14,558`|
||<br>|<br>`545,695`<br>|<br>`526,749`<br>|<br>`511,524`<br>|<br>`494,637`<br>|





## 

|||`2024`<br>`£'000s`|`2023`<br>`£'000s`|
|---|---|---|---|
|`Cashflowsfromoperatingactivities`<br>`Netmovementinfunds`||`34,171`|`(8,934)`|
|`Adjustmentsfor:`<br>`Depreciation/amortisation`<br>`(Gains)oninvestments`<br>`Investmentmanagementcosts`<br>`Investmentincome`<br>`Receiptofendowment`||`2,662`<br>`(43,573)`<br>`1,648`<br>`(3,038)`<br>`(15,227)`|`1,291`<br>`(6,616)`<br>`1,760`<br>`(2,219)`<br>`(14,253)`|
|`(Increase)/Decreaseindebtors`<br>`Decrease/(Increase)instocks`<br>`(Decrease)increditors`<br>`(Decrease)/Increaseinprovisions`<br>`Netcash(usedin)operatingactivities`||<br>`(3,100)`<br>`36`<br>`(2,067)`<br>`(1,934)`<br>`(30,424)`|<br>`2,787`<br>`(75)`<br>`(463)`<br>`543`<br>`(26,180)`|
|`Cashflowsfrominvestingactivities`||||
|`Proceedsfromthesaleofproperty,plantandequipment.`<br>`Cashwithdrawn`<br>`Purchaseoffixedassets(tangibleandintangible)`<br>`Newmoneyinvested`<br>`Netcashprovidedby/(usedin)investingactivities`|<br>|<br> <br>`8`<br>`34,842`<br>`(2,141)`<br>`(15,227)`<br>`17,482`|<br> <br>`-`<br>`49,844`<br>`(14,790)`<br>`(14,253)`<br>`20,801`|
|`Cashflowsfromfinancingactivities`<br>`Financecosts`<br>`Receiptofendowment`<br>`Netcashprovidedbyfinancingactivities`|<br>|<br> <br>`‘`<br>`15,227`<br>`16,227`|<br> <br>`200`<br>`14,253`<br>`14,453`|
|`Changeincashandcashequivalentsinthereportingperiod`||`2,285`|`9,074`|
|`Cashandcashequivalentsatthebeginningofthereportingperiod`||`22,192`|`13,118`|
|`Cashandcashequivalentsattheendofthereportingperiod`|<br>`31`<br>|<br>`24,477`<br>|<br>`22,192`<br>|





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|`Freeholdproperties,includingmajorextensions`|`2%p.a.`|
|---|---|
|`Buildingimprovements`|`2%`|
|`PlantandMachinery`|`5%`|
|`MotorVehicles`|`25%`|
|`FixturesandFittingsandComputerSystems`|`25%`|
|`Freeholdlandisnotdepreciated.Thecostofmaintenance`|`ischargedintheSOFAintheperiodinwhich`|
|`itisincurred.`||





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|`1`|`DONATIONSANDLEGACIES`|`2024`|`2023`|
|---|---|---|---|
|||`£'000s`|`£'000s`|
||`Unrestrictedfunds`|`1,043`|`616`|
||`Restrictedfunds`|`1,861`|`547`|
||`Endowedfunds`|`18,380`|`15,322`|
|||<br>`21,284`<br>|<br>`16,485`<br>|
||`£1,258k(2023;£1,163k)ofunrestrictedandrestrictedfundswereraisedbytheScholarsFund.`|||
||`SeeNote22fordetailedbreakdownofdonationsreceivedby fund.`|||
|`2`|`INCOMEFROMCHARITABLEACTIVITIES`|`2024`|`2023`|
|||`£'000s`|`£'000s`|
||`Scholarshipfunding`|`1,197`|`1,188`|
||`AtlanticInstituteGrantFunding`|`13`|`106`|
||`RISEGrantFunding`|`6,097`|`2,893`|
||`SchmidtScienceFellowsGrantFunding`|`10,785`|`9,555`|
||`OtherGrantFunding`|`509`|`313`|
||`Contributionstoco-fundedCollege scholarshipcosts`|`981`|`813`|
|||<br>`19,582`<br>|<br>`14,868`<br>|
||`TheTrusthasenteredintoa numberofco-fundingagreementswiththeUniversity andwithseveralColleges,wherebyfeesand stipend`|`costsareshared,Grantfundingisreceivedto`||
||`supportpartnershipprogrammes,namelyTheAtlanticinstitute,SchmidtScienceFellowsandtheRISEProgramme.`|||
|`3`|`INCOMEFROMOTHERTRADINGACTIVITIES`|`2024`|`2023`|
||`‘`|`£°000s`|`£'000s`|
||`Subsidiarycompanytradingincome:RhodesHouseLtd`|`1,182`|`458`|
||`Othertradingincome`|`88`|`23`|
|||<br> <br>`1,270`|<br> <br>`481`|
|`4`|`INVESTMENTINCOME`|`2024`|`2023`|
|||`£'000s`|`£'000s`|
||`Unrestrictedfunds`|||
||`Incomefromfixedintereststocks`|`55`|`229`|
||`Bankinterest`|`604`|`149`|
|||<br>`659`|<br>`378`|
||`Restrictedfunds`|||
||`Interestanddividendincomeoninvestmentportfolios`|`990`|`970`|
||`Bankinterest`|`7`|`5`|
|||<br>`997`|<br>`975`|
||`Endowedfunds`|||
||`Interestanddividendincomeoninvestmentportfolios`|`1,993`|`1,020`|
|||<br> <br>`1,993`|<br> <br>`1,020`|
||`TotalInvestmentincome`|<br> <br>`3,649`|<br> <br>`2,373`|



|||`Direct`|`Direct`|||
|---|---|---|---|---|---|
|||`StaffCosts`|`Non-staffCosts`|`SupportCosts`|`2024`|
|`2024`||`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`Scholarshipprogramme`||||||
|`GrantstoIndividuals`||`-`|`14,502`|`-`|`14,502`|
|`IndirectScholarsupport`||`2,170`|`2,099`|`5,888`|`10,157`|
|||<br>`2,170`|<br>`16,601`|<br>`5,888`|<br>`24,659`|
|`Otherprogrammes:`||||||
|`AtlanticInstitute- Grants`|`toIndividuals`|`-`|`814`|`-`|`814`|
|`AtlanticInstitute- OtherProgrammeCosts`||`2,023`|`4,321`|`365`|`6,709`|
|||<br>`2,023`|<br>`5,135`|<br>`365`|<br>`7,623`|
|`SchmidtScienceFellows`|`-GrantstoIndividuals`|`-`|`5,167`|`-`|`5,167`|
|`SchmidtScienceFellows`|`-OtherProgrammeCosts`|`1,937`|`3,305`|`300`|`§,542`|
|||<br>`1,937`|<br>`8,472`|<br>`300`|<br>`10,709`|
|`RISE- GrantstoIndividuals`||`-`|`4,306`|`-`|`4,306`|
|`RISE- OtherProgramme`|`Costs`|`724`|`314`|`346`|`1,384`|
|||<br>`724`|<br>`4,620`|<br>`346`|<br>`5,690`|
|`OtherprogrammesincludingOxfordNextHorizonsandSchwarzmanLeadershipProgramme`||`1`|`406`|`98`|`515`|
|`Totalexpenditureoncharitableactivities`||<br>`6,865`<br>|<br>`35,234`<br>|<br>`6,997`<br>|<br>`49,096`<br>|





|||`Direct`|`Direct`|||
|---|---|---|---|---|---|
|||`StaffCosts`|`Non-staffCosts`|`SupportCosts`|`2023`|
|`2023`||`£'000s`|`£'000s`|`£°000s`|`£'000s`|
|`Scholarshipprogramme`||||||
|`GrantstoIndividuals`||`-`|`14,128`|`-`|`14,128`|
|`IndirectScholarsupport`||`1,656`|`2,335`|`§,643`|`9,634`|
|||<br>`1,656`|<br>`16,463`|<br>`5,643`|<br>`23,762`|
|`Otherprogrammes:`||||||
|`AtlanticInstitute- GrantstoIndividuals`||`<`|`377`|`-`|`377`|
|`AtlanticInstitute- OtherProgrammeCosts`||`1,781`|`5,195`|`430`|`7,406`|
|||<br>`1,781`|<br>`§,572`|<br>`430`|<br>`7,783`|
|`SchmidtScienceFellows- GrantstoIndividuals`||`-`|`4,438`|`-`|`4,438`|
|`SchmidtScienceFellows- OtherProgrammeCosts`||`1,565`|`3,399`|`153`|`5,117`|
|||<br>`1,565`|<br>`7,837`|<br>`153`|<br>`9,555`|
|`RISE- GrantstoIndividuals`||`-`|`1,440`|`-`|`1,440`|
|`RISE- OtherProgrammeCosts`||`534`|`585`|`226`|`1,342`|
|||<br>`534`|<br>`2,025`|<br>`226`|<br>`2,782`|
|`OtherprogrammesincludingSchwarzmanLeadershipProgramme`||`191`|`269`|`-`|`460`|
|`Totalexpenditureoncharitableactivities`||<br>`§,724`<br>|<br>`32,166`<br>|<br>`6,452`<br>|<br>`44,342`<br>|
|`Grantstoindividualsincludespaymentsmadetoanacademicinstitutiononbehalfofanindividual`|`.`|||||



## 

|`ANALYSISOFEXPENDITUREONRAISINGFUNDS`||||||
|---|---|---|---|---|---|
||`Direct`|`Direct`||||
||`StaffCosts`|`Non-staffCosts`|`SupportCosts`||`2024`|
|`2024`|`£'000s`|`£'000s`|`£'000s`||`£'000s`|
|`Expenditureonraisingfunds`||||||
|`Fundraising`|`1,416`|`912`||`-`|`2,328`|
|`Tradingexpenditure`|`-`|`1,340`|`42`||`1,382`|
|`FinanceCosts`|`-`|`-`|`801`||`801`|
|`investmentmanagementcosts`|`-`|`-`|`4,648`||`1,648`|
|`Totalexpenditureonraisingfunds`|<br> <br>`1.416`|<br> <br>`2,252`|<br> <br>`2,491`|<br> <br>|<br> <br>`6,159`|
||`Direct`|`Direct`||||
||`StaffCosts`|`Non-staffCosts`|`SupportCosts`||`2023`|
|`2023`|`£'000s`|`£'000s`|`£'000s`||`£'000s`|
|`Expenditureonraisingfunds`||||||
|`Fundraising`|`1,409`|`4,301`||`-`|`2,710`|
|`Tradingexpenditure`|`-`|`741`|`30`||`7714`|
|`FinanceCosts`|`-`|`-`|`200`||`200`|
|`Investmentmanagementcosts`|`-`|`-`|`1,760`||`1,760`|
|`Totalexpenditureonraisingfunds`|<br> <br>`1,409`|<br> <br>`2,042`|<br> <br>`1,990`|<br> <br>|<br> <br>`5,441`|
|`ANALYSISOFSUPPORTCOSTS`||||||
||||||`2024`|
|`2024`||`Charitable`|`Raising`||`Total`|
|||`Activities`|`Funds`|||
|||`£'000s`|`£'000s`||`£'000s`|
|`Administration`||`3,914`|`6`||`3,920`|
|`Finance`||`63`|`0`||`63`|
|`Humanresources`||`331`||`-`|`331`|
|`ITandcommunications`||`1,617`|`14`||`1,631`|
|`investmentmanagement`||`-`|`1,648`||`1,648`|
|`Legal& professional`||`771`||`-`|`771`|
|`Governancecosts`||`92`|`11`||`103`|
|`Depreciation`||`2,433`|`11`||`2,444`|
|`Loss/(profit)on fixedassets`||`i)`||`-`|`0`|
|`Interestcostonpensionprovision`||`26`||`-`|`26`|
|`BondInterest`<br>`Pensiondeficitliabilitymovement`||`-`<br>`(2,250)`|`801`|<br>`-`|`801`<br>`(2,250)`|
|||<br>`6,997`<br>|<br>`2,491`<br>|<br> <br>|<br>`9,488`<br>|





## 

||||||`2023`|
|---|---|---|---|---|---|
||`2023`|`Charitable`|`Raising`||`Total`|
|||`Activities`|`Funds`|||
|||`£'000s`|`£'000s`||`£'000s`|
||`Administration`|`2,688`|`17`||`2,705`|
||`Finance`|`90`||`-`|`90`|
||`Humanresources`|`314`||`-`|`314`|
||`ITandcommunications`|`1,633`||`-`|`1,633`|
||`Investmentmanagement`|`-`|`1,760`||`1,760`|
||`Legal& professional`|`266`|`4`||`270`|
||`Govemancecosts`|`87`|`8`||`95`|
||`Depreciation`|`1,191`||`-`|`1,191`|
||`Interestcastonpensionprovision`|`61`||`-`|`61`|
||`BondInterest`|`-`|`200`||`200`|
||`Exchangerateloss`<br>`Pensiondeficitliabilitymovement`|<br>`149`<br>`(28)`||<br>`-`<br>`-`|<br>`149`<br>`(28)`|
|||<br> <br>`6,451`|<br> <br>`1,989`|<br> <br>|<br> <br>`8,440`|
||`SharedServices,includingHumanResources,Financeand`<br>`ITcostsareattributedaccordingtotheproportionofworkload,`|||||
||`Depreciationcostsareattribuledaccordingtotheusemadeoftheunderlyingassets.`|||||
||`Interestandotherfinancechargesareattributedaccordingtothepurposeoftherelatedfinancing.`|||||
||||`2024`||`2023`|
||||`£'000s`||`£'000s`|
||`Governancecostscomprise:`|||||
||`Auditors'remuneration- auditservices`||`85`||`86`|
||`Auditors’remuneration- otherservices`||`2`||`2`|
||`Auditors'remuneration- taxadvisoryservices`||`16`||`rd`|
|||<br>|<br> <br>`103`|<br> <br>|<br> <br>`95`|
|`9`|`STAFFCOSTS`|||||
||||`2024`||`2023`|
||`Theaggregatestaffcostsfortheyearwereasfollows.`||`£°000s`||`£'000s`|
||`Salariesandwages`||`9,803`||`8,112`|
||`Socialsecuritycosts`||`1,110`||`944`|
||`Pensioncosts:`|||||
||`Definedbenefitschemes`||`806`||`970`|
||`Definedcontributionschemes`||`344`||`189`|
||`Otherbenefits`||`252`||`168`|
||`Pensiondeficitliabilitymovement`||`(2,250)`||`(28)`|
||`TotalStaffCosts`||<br>`40,065`|<br>|<br>`10,355`|
||`LessStaffCostsdisclosedinNote5 asSupportCostsforAtlanticInstitute,RISE,ONHPandSchmidtScienceFellows`||`(1,109)`||`_(809)`|
||`TotalStaffCostsforTheTrustexcludingPartnershipStaffCosts`|<br>|<br> <br>`8,956`|<br> <br>|<br> <br>`9,546`|
||`Thetotalpensionprovisionheldat30thJune2024isEnil(2023:£2,224k)asperNote21.SeeNote26forfulldetails.`|||||
||`Theaveragenumberofemployeesona grossheadcountbasis,includingPartnershipprogrammestaff,wasasfollows:`||`2024`||`2023`|
||`Fulltime`||`123`||`110`|
||`Parttime`||`24`||`20`|
||`Total`|<br>|<br>`147`<br>|<br> <br>|<br>`130`<br>|
||`\nadditiontotheaboveemployeenumbers,TheTrustemployeescasualsandinternsonshort-termcontractsforseasonalorone-offwork,Themonthly`||`averageof`|`casual`|`employees`|
||`was18intheyear(2023:13).`|||||





||`2024`|`2023`|
|---|---|---|
|`£60,000-£70,000`|`9`|`7`|
|`£70,000-£80,000`|`6`|`4`|
|`£80,000-£90,000`|`5`|`9`|
|`£90,000-£100,000`|`5`|`4`|
|`£100,000-£110,000`|`3`|`2`|
|`£110,000-£120,000`|`7`|`1`|
|`£120,000-£130,000`|`1`|`5`|
|`£130,000-£140,000`<br>`£140,000-£150,000`|`-`<br>`4`|`3`<br>`=`|
|`£150,000-£160,000`|`1`|`2`|
|`£160,000-£170,000`<br>`£180,000-£190,000`|`3`<br>`1`|`1`|
|`£190,000-£200,000`|`4`|`1`|
|`£200,000-£210,000`|`1`|`1`|
|`£210,000-£220,000`|`-`|`1`|
|`£220,000-£230,000`|`-`|`1`|
|`£250,000-£260,000`|`1`|`s`|
|`£260,000-£270,000`|`-`|`1`|
|`£290,000-£300,000`|`2`|`-`|
|`£320,000-£330,000`<br>`£340,000-£350,000`|`-`<br>`1`|`1`<br>`.`|



||||`2024`|`2023`|`2024`|`2023`|
|---|---|---|---|---|---|---|
||||`Group`|`Group`|`Charity`|`Charity`|
||||`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`Cost`||||||
||`At startofyear`||`547`|`452`|`491`|`452`|
||`Additions`||`216`|`95`|`213`|`39`|
||`Atendofyear`|<br>|<br> <br>`763`|<br> <br>`547`|<br> <br>`704`|<br> <br>`491`|
||`Amortisation`||||||
||`Atstartofyear`||`390`|`343`|`390`|`343`|
||`Amortisationchargefortheyear`||`54`|`47`|`40`|`47`|
||`Atendofyear`|<br>|<br> <br>`444`|<br> <br>`390`|<br> <br>`430`|<br> <br>`390`|
||`Netbookvaluecarriedforward`||<br>`319`|<br>`457`|<br>`274`|<br>`104`|
||`Netbookvaluebroughtforward`||<br>`157`|<br>`109`|<br>`101`|<br>`109`|
|`11`|`TANGIBLEFIXEDASSETS`||||||
||`Group`|`Freehold`|`Plantand`|`ITSystems`|`Fixtures,`||



|||||||
|---|---|---|---|---|---|
|`Group`|`Freehold`|`Plantand`|`ITSystems`|`Fixtures,`||
||`landand`|`machinery`||`fittingsand`|`Total`|
||`buildings`|||`equipment`||
||`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`Cost`||||||
|`At startofyear`|`56,816`|`749`|`5,588`|`2,311`|`65,464`|
|`Additions`|`1,229`|`-`|`451`|`245`|`1,925`|
|`Disposals`|<br>`=`|<br>`=`|<br>`{8)`|<br>`(1)`|<br>`{8)`|
|`Atendofyear`|<br> <br>`58,045`|<br> <br>`749`|<br> <br>`6,031`|<br> <br>`2,555`|<br> <br>`67,380`|
|`Depreciationandimpairment`||||||
|`Atstartofyear`|`1,421`|`22`|`2,782`|`677`|`4,902`|
|`Depreciationchargefortheyear`|`922`|`37`|`1,227`|`421`|`2,607`|
|`Depreciationondisposals`|<br>`:`|<br>`=`|<br>`a`|<br>`(0)`|<br>`{0)`|
|`Atendofyear`|<br> <br>`2,343`|<br> <br>`59`|<br> <br>`4,009`|<br> <br>`1,098`|<br> <br>`7,509`|
|`Netbookvalue2024`|<br>`55,702`|<br>`690`|<br>`2,022`|<br>`1,457`|<br>`59,871`|
|`Netbookvalue2023`|`55,395`<br>|`727`<br>|`2,806`<br>|`1,634`<br>|`60,563`<br>|





## 

|`Charity`|`Freehold`|`Freehold`|`Plantand`|`Plantand`|`ITSystems`|`ITSystems`|`Fixtures,`||
|---|---|---|---|---|---|---|---|---|
||`landand`||`machinery`||||`fittingsand`|`Total`|
||`buildings`||||||`equipment`||
||`£'000s`||`£'000s`||`£'000s`||`£'000s`|`£'000s`|
|`Cost`|||||||||
|`Atstartofyear`|`56,816`||`749`||`5,588`||`2,311`|`65,464`|
|`Additions`<br>`Disposals`<br>`Atendofyear`|<br> <br>`1,229`<br>`58,045`|<br> <br> <br>`-`<br>|<br> <br>`749`|<br> <br>`-`<br>`-`<br>|<br> <br>`451`<br>`(8)`<br>`6,031`||<br> <br>`202`<br>`(1)`<br>`2,512`|<br> <br>`4,882`<br>`(9)`<br>`67,337`|
|`Depreciationandimpairment`|||||||||
|`Atstartofyear`|`1,421`||`22`||`2.782`||`677`|`4,902`|
|`Depreciationchargefortheyear`<br>`Depreciationondisposals`<br>`Atendofyear`|<br> <br>`922`<br>`2,343`|<br> <br> <br>`:`<br>|<br> <br>`37`<br>`59`|<br> <br> <br>`-`<br>|<br> <br>`1,227`<br>`4,009`|<br> <br> <br>`-`<br>|<br> <br>`410`<br>`(0)`<br>`1,087`|<br> <br>`2,596`<br>`_{0)`<br>`7,498`|
|`Netbookvalue2024`|<br>`55,702`|<br>|<br>`690`|<br>|<br>`2,022`|<br>|<br>`1,425`|<br>`59,839`|
|`Netbookvalue2023`|<br>`55,395`|<br>|<br>`727`|<br>|<br>`2,806`|<br>|<br>`1,634`|<br>`60,563`|
|`POOLEDENDOWMENTINVESTMENTS`|||||||||
|`Allinvestmentsareheldatfairvalue.`|||||||`2024`|`2023`|
||||||||`£'000s`|`£'000s`|
|`Groupinvestments`|||||||||
|`Valuationatstartofyear`|||||||`397,143`|`401,387`|
|`Newmoneyinvested`|||||||`15,227`|`14,253`|
|`Amountswithdrawn`|||||||`(22,776)`|`(21,354)`|
|`Reinvestedincome`|||||||`2,058`|`1,052`|
|`Investmentmanagementfees`|||||||`(1,391)`|`(1,479)`|
|`Increase/(decrease)invalueofinvestments`|||||||`35,060`|`3.286`|
|`Groupinvestmentsatendofyear`|||||||<br>`425,321`|<br>`397,143`|
|`Investmentheldonbehaifofsubsidiaries`|||||||`(17,454)`|`(16,994)`|
|`Investmentsinsubsidiaries`|||||||`0`|`0`|
|`Charityinvestmentsatendofyear`||||||<br>|<br> <br>`407,867`|<br> <br>`380,149`|
|`Groupinvestmentscomprise:`|||||||`2024`|`2023`|
||||||||`£000s`|`£'000s`|
|`Privateequityinvestments`|||||||`1,642`|`3,053`|
|`Listedinvestments`|||||||`22,513`|`28,613`|
|`Globalmulti-assetfunds(includingOUEF)`|||||||`334,138`|`315,807`|
|`Property,alternativeandotherinvestments`|||||||`-`|`2,433`|
|`Fixedtermdeposits,bondsandcash`|||||||`70,028`|`47,237`|
|`Totalgroupinvestments`||||||<br>|<br> <br>`425,321`|<br> <br>`397,143`|



||`Groupand Charity`|`2024`|`2023`|
|---|---|---|---|
|||`Total`|`Total`|
|||`£'000s`|`£'000s`|
||`Valuationatstartofyear`|`4,547`|`20,339`|
||`Bondinterest@ 2.67%`|`-`|`(801)`|
||`Amountswithdrawn`|`(4,612)`|`(15,068)`|
||`Reinvestedincome`|`55`|`229`|
||`Investmentmanagementfees`<br>`Increasedecrease)invalueofinvestments`|`(2)`<br>`12`|`(19)`<br>`(133)`|
||`Valuationatendofyear`|<br> <br>`-`|<br> <br>`4,547`|
|`14`|`ATLANTICSHORTTERMINVESTMENTS`|||
||`GroupandCharity`|`2024`|`2023`|
|||`Total`|`Total`|
|||`£'000s`|`£'000s`|
||`Valuationatstartofyear`|`71,054`|`79,735`|
||`Amountswithdrawn`|`(7,454)`|`(12,820)`|
||`Reinvestedincome`|`924`|`937`|
||`Investmentmanagementfees`|`(255)`|`(262)`|
||`Increase/(decrease)invalueofinvestments`|`8,502`|`3,462`|
||`Valuationatendofyear`|<br>`72,771`<br>|<br>`71,054`<br>|





|`investmentscomprise:`|`2024`|`2023`|
|---|---|---|
||`£'000s`|`£'000s`|
|`Listedinvestments`|`40,913`|`40,566`|
|`Property,alternativeandotherinvestments`|`2,670`|`3,985`|
|`Fixed termdeposits,bondsandcash`|`29,188`|`26,503`|
|`Totalgroupinvestments`|<br>`72,771`<br>|<br>`71,054`<br>|
|`Thesefundsarering-fencedandfinancetheoperationalactivitiesoftheAtlanticInstitute.Thesegrantfundsareexpectedtobespentdownovera 12-15yearperiodand`||`arethus`|
|`describedasshort-term.`|||



|`GAINSONINVESTMENTS`|||
|---|---|---|
||`2024`|`2023`|
||`Total`|`Total`|
||`£'000s`|`£'000s`|
|`Gainonpootedendowmentinvestments`|`35,059`|`3,286`|
|`Gain/(loss)oncapitalprojectinvestments`|`12`|`(133)`|
|`GainonAtlanticshortterminvestments`|`8,502`|`3,462`|
|`Gainonothershortterminvestments`|`38`|`27`|
||<br>`43,611`<br>|<br>`6,642`<br>|



||`Linkedcharity`|`Linkedcharity`|`Parentcharity`|`Linkedcharity`|`Linkedcharity`|`PPF`|`Subsidiary`|`Subsidiary`|
|---|---|---|---|---|---|---|---|---|
||`CecilRhodes`||`RhodesTrust`||`RhodesTrust`||||
||`Scholarshi`||`Public`|`RhodesTrust`|`New`|`Rhodes`||`House`|
|||`Fura`<br>`P`|`Purposes`|`HorizonFund`|`Scholarship`||`Ltd`||
|`2024`|||`Fund`||`Fund`||||
|||`£'000s`|`£'000s`|`£°000s`|`£'000s`|||`£'000s`|
|`Income`||`256`|`8,151`|`18,631`|`14,819`|||`2,278`|
|`Expenditure`||`(3,051)`|`(18,378)`|`(24,878)`|`{4,474)`|||`{2,363)`|
|`Transfers`||`:`|`-`|`(1,038)`|`(7)`|||`:`|
|`Netgainsoninvestments`||`4,372`|`22,172`|`9,615`|`5,927`|||`:`|
|`Resultfortheyear`|<br>|<br> <br>`1,577`|<br> <br>`11,944`|<br> <br>`2,330`|<br> <br>`16,265`|<br>|<br>|<br> <br>`(75)`|
|`Totalassets`||`50,330`|`326,356`|`99,857`|`85,633`|||`1,000`|
|`Totalfiabilities`||`-`|`(24,033)`|`(8,827)`|`(2,566)`|||`(1,353)`|
|`Netfundsattheendofyear`|<br>|<br> <br>`60,330`|<br> <br>`302,323`|<br> <br>`91,030`|<br> <br>`83,067`|<br>|<br>|<br> <br>`(353)`|
||`RT`|<br> <br>`Subsidiary`|<br>`RTSubsidiary`|`RTSubsidiary`|<br>`RYSubsidiary`|<br>`RT`|<br> <br>`Subsidiary`||
|||`Rhodes`|`Rhodes`|`Rhodes`|`Rhodes`||||
||`Scholarships`||`Scholarships`|`Scholarships`|`Scholarshipsfor`|`Rhodes`||`Trust`|
||`in`|`Australia`|`inNew`|`ineacede`|`SouthernAfrica`|`(US)`||`LLC`|
|||`PTYLtd`|`ZealandLtd`||`SecretariatNPC`||||
|||`£'000s`|`£'000s`|`£'000s`|`£'000s`|||`£'000s`|
|`Income`||`2,607`|`5`|`124`|`4`|||`5`|
|`Expenditure`||`{935}`|`(0)`|`(653)`|`(149)`|||`(398)`|
|`Netgainsoninvestments`||`1,221`|`-`|`306`|`:`|||`-`|
|`Resultfortheyear`|<br>|<br> <br>`2,893`|<br> <br>`5`|<br> <br>`(226)`|<br> <br> <br>`(148)`|<br>|<br> <br>`__(393)`||
|`Totalassets`||`30,348`|`132`|`6,698`|`{0)`|||`-`|
|`Totalliabilities`||`(13,733)`|`(64)`|`(3,470)`|`(219)`|||`(393)`|
|`Netfundsattheendofyear`|<br>|<br>`16,615`<br>|<br>`68`<br>|<br>`3,228`<br>|<br>`(219)`<br>|<br>|<br>|<br>`{393)`<br>|





## 

## 

||`Linkedcharity`|`Parentcharity`|`Linkedcharity`|`Linkedcharity`|`PPFSubsidiary`|`PPFSubsidiary`|
|---|---|---|---|---|---|---|
|`2023`|`4`<br>`Cognones`<br>`Feed`<br>`'p`|`RhodesTrust`<br>`few— `<br>`4`<br>`P`|`RhodesTrust`<br>`HorizonFund`|`RhodesTrust`<br>`New`<br>`Scholarship`<br>`Fund`|`Rhodes`<br>`Ltd`|`House`<br>|
||`£'000s`|`£'000s`|`£'000s`|`£'000s`||`£'000s`|
|`Income`|`435`|`12,999`|`13,947`|`11,596`||`919`|
|`Expenditure`<br>`Transfers`|`{2,943)`<br>`.`|`(18,671)`<br>`é`|`(20,763)`<br>`(65,171)`|`(4,940)`<br>`59,518`||`(1,200)`<br>`-`|
|`Netgainsoninvestments`|`447`|`1,838`|`3,571`|`627`||`-`|
|`Resultfortheyear`|<br> <br>`(2,361)`|<br> <br>`(3,834)`|<br> <br>`(68,415)`|<br> <br>`66,801`|<br>|<br> <br>`(281)`|
|`Totalassets`<br>`Totalliabilities`|`48,753`<br>`-`|`307,287`<br>`(16,905)`|`108,086`<br>`(19,386)`|`69,685`<br>`(2,884)`||`1,000`<br>`(1,281)`|
|`Netfundsattheendofyear`|<br> <br>`48,753`|<br> <br>`290,382`|<br> <br>`88,700`|<br> <br>`66,801`|<br>|<br> <br>`(281)`|
||`RTSubsidiary`|`RTSubsidiary`|`RTSubsidiary`|`RTSubsidiary`|`RTSubsidiary`||
||`Rhodes`|`Rhodes`|`Rhodes`|`Rhodes`|||
||`Scholarshipsin`<br>`AustraliaPTY`|`Scholarshipsin`<br>`NewZealand`|`Scholarshipsin`<br>`spac `|`Scholarshipsfor`<br>`SoutherAfrica`|`Rhodes`<br>`(US)`|`Trust`<br>`LLC`|
||`Ltd`|`Ltd`||`SecretariatNPC`|||
||`£'000s`|`£'000s`|`£'000s`|`£'000s`||`£'000s`|
|`Income`|`86`|`3`|`169`|`2`||`i`|
|`Expenditure`|`(915)`|`(4)`|`(275)`|`(136)`||`-`|
|`Netgainsoninvestments`|`127`|`-`|`32`|`-`||`-`|
|`Resultfortheyear`|<br> <br>`(702)`|<br> <br>`(1)`|<br> <br>`(74)`|<br> <br>`(133)`|<br>|<br> <br>`-`|
|`Totalassets`|`28,157`|`128`|`7,010`|`78`||`=`|
|`Totalliabilities`|`(14,435)`|`(65)`|`(3,557)`|`(149)`||`*`|
|`Netfundsattheendofyear`|<br>`13,722`<br>|<br>`64`<br>|<br>`3,453`<br>|<br>`(71)`<br>|<br>|<br>`-`<br>|



## 

## 

## 

## 

## 



## 

## 

|`WithapprovalfromtheCharityCommission,theTrusteesadopteda policyof`|`totalretumaccountingfortheinvestmentreturnonthe`|`totalretumaccountingfortheinvestmentreturnonthe`|`totalretumaccountingfortheinvestmentreturnonthe`|`totalretumaccountingfortheinvestmentreturnonthe`|`ScholarshipFund,`|`ScholarshipFund,`|`ScholarshipFund,`|`witheffectfrom30thJune2007.`|`witheffectfrom30thJune2007.`|
|---|---|---|---|---|---|---|---|---|---|
|`TheinvestmentreturntobeappliedasincomewasoriginallysetbytheTrusteesat4%ofthebrought`||`forward`||`fundvalue.Duringtheyearended`||`30thJune2018,theTrusteeBoard`||||
|`approveda changetotheratetobeapplied,tobringtheScholarshipFundin`|`linewiththepolicybeing`|`appliedtoallotherendowmentfundsofthe`|||||`Trust,whichiscurrently`||`5.25%ofthe`|
|`trailing12quarterlyvaluations.TheamountappliedasincomeforspendingisincludedwithintheincomesectionoftheSOFAonthebasisthatthisgivesa clearerunderstandingofthe`||||||||||
|`financialpositionofthegroup.Thepreserved(frozen)valueoftheinvestedendowmentcapitalrepresentsits`||||`openmarketvalueat`|`1July1989together`|||`withallsubsequent`||
|`endowmentsvaluedatthedateofthegift.`||||||||||
||||`PermanentEndowment`|||||`Expendable`|`Total`|
|||||`Unapplied`||||`Endowment`<br>`Endowments`||
||`TrustforInvestment`|||<br>`Total`||||||
||`ScholarshipFund`|||<br>`Retum`|`Total`|||||
|`2024`||`£'000s`||<br>`£'000s`|`£'000s`|||`£'000s`|`£'000s`|
|`Atthebeginningoftheyear:`||||||||||
|`Giftcomponentofthepermanentendowment`||`30,429`||`-`|`30,429`|||`-`|`30,429`|
|`Unappliedtotalreturn`|||`-`|`18,325`|`18,325`|||`-`|`18,325`|
|`Expendableendowment`<br>`‘`|||`-`|<br>`:`<br>`-`||`-`||`“355,079`|`355,079`|
|`TotalEndowments`||<br>`30,429`|<br>|<br>`18,325`|<br>`48,753`|<br>|<br>|<br>`355,079`|<br>`403,832`|
|`Movementsinthereportingperiod:`||||||||||
|`Giftofendowmentfunds`|||`-`|<br>`-`||`-`||`18,380`|`18,380`|
|`Investmentreturn:totalinvestmentincome`|||`-`|<br>`256`|`256`|||`4,737`|`1,993`|
|<br>`Investmentreturn:realisedandunrealisedgainsandlosses`|||`-`|<br>`4,372`|`4,372`|||`29,575`|`33,947`|
|`Less:Investmentmanagementcosts`|||`-`|<br>`(172)`|`(172)`|||`(1,174)`|`(1,346)`|
|`Total`|||<br>`-`|<br> <br>`4,456`|<br>`4,456`|<br>|<br>|<br>`48,518`|<br>`52,974`|
|`Unappliedtotalreturnallocatedtoincomeinthereportingperiod`|||`-`|<br>`(2,879)`|`(2,879)`|||`-`|`(2,879)`|
|`Expendabletotalreturnincometransferred`|||`:`|<br>`-`||`:`||`(19,490)`|`(19,490)`|
||||<br>`-`|<br> <br>`(2,879)`|<br>`(2,879)`|||<br>`(19,490)`|<br>`(22,369)`|
|`Transfersfromexpendableendowments`|||`-`|<br>`-`||`-`||`(407)`|`(407)`|
||||<br>`-`|<br> <br>`(2,879)`|<br>`(2,879)`|||<br>`(19,897)`|<br>`(22,776)`|
|`Netmovementsinreportingperiod`|||<br>`-`|<br> <br>`1,577`|<br>`1,577`|<br>|<br>|<br>`28,621`|<br>`30,198`|
|`Atendofthereportingperiod:`||||||||||
|`Giftcomponentofthepermanentendowment`||`30,429`||`-`|`30,429`|||`-`|`30,429`|
|`Unappliedtotalretum`|||`-`|<br>`19,902`|`19,902`|||`-`|`19,902`|
|`Expendableendowment`|||`-`|<br>`-`||`-`||`383,700`|`383,700`|
|`TotalEndowments`|<br>|<br> <br>`30,429`|<br> <br>|<br> <br> <br>`19,902`|<br> <br>`50,331`|<br> <br>|<br> <br>|<br> <br>`383,700`|<br> <br>`434,031`|
|||||`PermanentEndowment`||||`Expendable`|`Total`|
|||||`Unapplied`||||`Endowment`|`Endowments`|
||`TrustforInvestment`|||<br>`Total`||||||
||`ScholarshipFund`|||<br>`Return`|`Total`|||||
|`2023`||`£'000s`||<br>`£'000s`|`£'000s`|||`£°000s`|`£'000s`|
|`Atthebeginningoftheyear:`||||||||||
|`Giftcomponentofthepermanentendowment`||`30,429`||<br>`-`|`30,429`|||`-`|`30,429`|
|`Unappliedtotalreturn`|||`-`|<br>`20,685`|`20,685`|||`-`|`20,685,`|
|`Expendableendowment`|||`-`|<br>`-`|||`-`|`355,988`|`355,988`|
|`TotalEndowments`||<br>`30,429`|<br>|<br> <br>`20,685`|<br>`51,114`|<br>|<br>|<br>`355,988`|<br>`407,104`|
|`Movementsinthereportingperiod:`||||||||||
|`Giftofendowmentfunds`|||`-`|<br>`-`|||`-`|`15,322`|`15,322`|
|`Investmentreturn:totalinvestmentincome`|||`-`|<br>`135`|`135`|||`883`|`1,017`|
|`Investmentreturn:realisedandunrealisedgainsand losses`|||`-`|<br>`447`|`447`|||`2,730`|`3,178`|
|`Less:Investmentmanagementcosts`|||`-`|<br>`(187)`|`_(187)`|||`(1,247)`|`(1,434)`|
|`Total`|||<br>`-`|<br> <br>`396`|<br>`396`||<br>|<br>`17,688`|<br>`18,084`|
|`Unappliedtotalreturnallocatedtoincomeinthereportingperiod`|||`-`|<br>`(2,756)`|`(2,756)`|||`-`|`(2,756)`|
|`€xpendabletotalreturnincometransferred`|||`-`<br>`:`||||`-`|`(18,146)`|`(18,146)`|
||||<br>`-`|<br> <br>`(2,756)`|<br>`(2.756)`|||<br>`(18,146)`|<br>`(20,903)`|
|`Transferstoexpendableendowments`|||`-`|<br> <br>`-`|||<br>`-`|<br>`(451)`|<br>`(451)`|
||||<br>`-`|<br> <br> <br>`(2,756)`|<br> <br>`(2,756)`|||<br> <br>`(18,597)`|<br> <br>`(21,354)`|
|`Netmovementsinreportingperiod`|||<br>`-`<br>`(2,361)`||<br>`(2,361)`|||<br>`(909)`|<br>`(3,270)`|
|`Atendofthereportingperiod:`||||||||||
|`Giftcomponentofthepermanentendowment`||`30,429`||<br>`-`|`30,429`|||`-`|`30,429`|
|`Unappliedtotalreturn`|||`-`<br>`18,325`||`18,325`|||`-`|`18,325`|
|`Expendableendowment`|||`-`<br>`-`||||`-`|`355,079`|`355,079`|
|`TotalEndowments`|<br>|<br>`30,429`<br>||<br> <br>`18,325`<br>|<br>`48,753`<br>||<br> <br>|<br>`355,079`<br>|<br>`403,832`<br>|
|`Witheffectfromyearended30thJune2017,theTrusthasadopteda policyofallocationfromexpendableendowmenttoincomein`|||||`ordertoprotectthe`|||`capitalvalueofthose`||
|`endowmentsandensureinter-generationalequity,ina similarwaytotheapplicationoftotalreturnto`||`income`||`fortheScholarshipFund.`||||||
|`£19,490kwastransferredtoincomeunderthispolicyinyearended30thJune2024(2023:£18,146k).`||<br>`This`|`equatesto5.49%ofbroughtforward`||||`fund`|`value,butiscalculatedona `||
|`quarterlybasis.`||||||||||





## 

|`18`|`DEBTORS`||||||||
|---|---|---|---|---|---|---|---|---|
||||`2024`||`2023`||`2024`|`2023`|
||||`Group`||`Group`||`Charity`|`Charity`|
||||`£'000s`||`£'000s`||`£'000s`|`£'000s`|
||`Amountsfallingduewithinoneyear:`||||||||
||`Tradedebtors`||`517`||`400`||`136`|`322`|
||`Prepaidfees,stipendsandamountsowedbyScholars`||`531`||`501`||`514`|`496`|
||`AmountsheldbyNationalSecretaries`||`33`||`73`||`33`|`73`|
||`Amountsowingbygroupundertakings:UK`|||`-`||`-`|`1,021`|`735`|
||`Amountsowingbygroupundertakings:Overseas`|||`-`||`-`|`1,289`|`586`|
||`AccruedIncome`||`5,884`||`5,065`||`§,384`|`§,065`|
||`Prepayments`||`2,121`||`1,361`||`2,078`|`1,342`|
||`Otherdebtors`||`1,541`||`2,013`||`1,475`|`1,397`|
||`Amountsfallingdueinmorethanoneyear:`||||||||
||`Accruedincome`||`6,925`||`5,040`||`§,192`|`§,040`|
|||<br>`17,552`<br>||<br> <br>|<br>`14,453`<br>|<br> <br>|<br>`17,122`<br>|<br>`15,056`<br>|
||`Accruedincomeforthegroupfallingdueinmorethanyearrepresentspledgeddonations,atpresentvalue,`|`ofwhich£621k`|<br>`falls`||`dueinmorethan`|`fiveyears(2023:Enil).`|||
|`19`|`CREDITORS:fallingduewithinoneyear`||`2024`||`2023`||`2024`|`2023`|
||||`Group`||`Group`||`Charity`|`Charity`|
||||`£'000s`||`£'000s`||`£'000s`|`£'000s`|
||`Tradecreditors`||`1,139`||`1,671`||`966`|`1,432`|
||`Amountsowedtogroupundertakings:UK`<br>`:`|||`-`|`-`||`358`|`435`|
||`Taxationandsocialsecurity`||`373`||`285`||`282`|`285`|
||`Accrualsanddeferredincome`||`5,950`||`7,571`||`5,684`|`7,244`|
||`Othercreditors`||`69`||`70`||`46`|`20`|
|||<br>|<br> <br>`7,531`|<br> <br>|<br> <br>`9,597`|<br> <br> <br>|<br> <br> <br>`7,336`|<br> <br> <br>`9.417`|
|`20`|`CREDITORS:fallingdueaftermorethanoneyear`||`2024`||`2023`||`2024`|`2023`|
||||`Group`||`Group`||`Charity`|`Charity`|
||||`£'000s`||`£'000s`||`£'000s`|`£'000s`|
||`LoanNotes`|`30,000`|||`30,000`||`30,000`|`30,000`|
|||<br>`30,000`<br>||<br> <br>|<br>`30,000`<br>|<br> <br>|<br>`30,000`<br>|<br>`30,000`<br>|
||`InOctober2018,theRhodesTrustPublicPurposesFundissued£30mofunsecuredloannotesinordertofundthebuildingof`|||`a`|`conferenceand`|`conveningcentre,administrationand`|||
||`accommodationfacilitieswithintheRhodesHousesite.Fixedinterestpaymentsarepayableat2.67%p.a.twiceyearly,andthe`|||`capitalisduefor`||`repaymentinOctober2048.Interestof`|||
||`£801k(2023:£801k)waspayableontheloannotesintheyear.Thiswasallexpensedintheyear,butintheprioryear£554kwascapitalisedand`|||||`includedwithinfixedasseladditions,`|||
||`netofincomeearnedoninvestedcashfunds,untilMarch2023(practicalcompletionofthebuildingproject).`||||||||
|`21`|`PROVISIONSFORLIABILITIESANDCHARGES`||`2024`||`2023`||`2024`|`2023`|
||||`Group`||`Group`||`Charity`|`Charity`|
||`ProvisionforfutureScholarcosts`||`£'000s`||`£'000s`||`£'000s`|`£'000s`|
||`Atstartofyear`|`16,839`|||`16,329`||`16,839`|`16,329`|
||`ChargedintheStatementofFinancialActivities`||`290`||`510`||`290`|`510`|
||`Atendofyear`|<br> <br>`17,129`||<br> <br>|<br> <br>`16,839`|<br> <br>|<br> <br>`17,129`|<br> <br>`16,839`|
||`Provisionforpensiondeficitliability`||`£'000s`||`£'000s`||`£'000s`|`£'000s`|
||`Atstartofyear`||`2,224`||`2,191`||`2,224`|`2,191`|
||`ChargedintheStatementofFinancialActivities`||`(2,365)`||`324`||`(2,365)`|`324`|
||`Settledintheyear`||`141`||`(291)`||`141`|`(291)`|
||`Atendofyear`|<br>|<br>|<br> <br>`-`|<br> <br>`2,224`|<br> <br>|<br> <br>`-`|<br> <br>`2,224`|
||`Totalprovisions`|<br>`17,129`<br>||<br> <br>|<br>`19,063`<br>|<br> <br>|<br>`17,129`<br>|<br>`19,063`<br>|





## 

|`22`|`ANALYSISOFMOVEMENTSONFUNDS`||||||||
|---|---|---|---|---|---|---|---|---|
|||||`investment& `|||||
|||`AtlJuly`|`NewMoney`|`Operating`|`Resources`||`Gains/`|`At 30June`|
|||`2023`||`Income`|`expended`|`Transfers`|`(losses)`|`2024`|
|||`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`EndowmentFunds- Permanent`||||||||
||`ScholarshipEndowmentFund`|`48,753`|`-`|`256`|`(172).`|`(2,879)`|`4,372`|`$0,330`|
||`TotalPermanentEndowment`|<br> <br>`48,753`|<br> <br>`:`|<br> <br>`256`|<br> <br>`(172)`|<br> <br>`(2,879)`|<br> <br>`4,372`|<br> <br>`$0,330`|
||<br>`Endc`<br>`tFunds`<br>`-`<br>`Expendabl`||||||||
||`PublicPurposesFund`||||||||
||`PublicPurposesCapitalFund`|`136,204`|`-`|`651`|`(439)`|`(7,322)`|`11,119`|`140,214`|
||`SecondCenturyFounderCapitalFund(MMF)`|`35,171`|`-`|`171`|`(115)`|`(4,598)`|`2,913`|`33,542`|
||`NewZealandPartnershipCapitalFund`|`10,019`|`-`|`53`|`{35)`|`(692)`|`898`|`10,343`|
||`OppenheimerSouthAfricaCapitalFund`|`7,798`|`-`|`41`|`(28)`|`(460)`|`699`|`8,050`|
||`Atlantic(RhodesScholProg)Fund`|`22,747`|`-`|`119`|`(80)`|`(1,343)`|`2,040`|`23,483`|
||`RSASecondCenturyFounderMMFCapitalFund`|`12,770`|`-`|`81`|`(55)`|`1,767`|`4,385`|`15,949`|
||`BanksPartnershipCapitalFund`|`5,918`|`-`|`31`|`(21)`|`(349)`|`$31`|`6,110`|
||`PakistanCapitalFund`|`4,688`|`248`|`26`|`(17)`|`(288)`|`438`|`5,096`|
||`Rhodes HouseNamingCapitalFund`|`4,942`|`2,340`|`it`|`(6)`|`(65)`|`109`|`7,326`|
||`2ndCenturyFounderCompoundFund`|`5,099`|`-`|`-`|`-`|`-`|`$35`|`5,634`|
||`VariousPartnershipFunds`|`26,806`|`31`|`120`|`(81)`|`(1,346)`|`1,454`|`26,983`|
||`Subtotal`|<br>`272,162`|<br>`2,619`|<br>`1,300`|<br>`(877)`|<br>`(14,596)`|<br>`22,121`|<br>`282,729`|
||`NewScholarshipFund`||||||||
||`RhodesScholarshipsforUAE`|`11,826`|`-`|`62`|`(42)`|`(698)`|`4,060`|`12,208`|
||`MalaysiaCapitalFund`|`‘5,484`|`-`|`29`|`(19)`|`(324)`|`492`|`5,662`|
||`SaidSJLPCapitalFund`|`5,456`|`-`|`29`|`(19)`|`(322)`|`489`|`5,632`|
||`ChinaCapitalFund`|`13,800`|`-`|`72`|`{49)`|`(800)`|`4,217`|`14,239`|
||`WestAfricaCapitalFund`|`10,262`|`968`|`52`|`(36)`|`(587)`|`894`|`41,555`|
||`EastAfricaCapitalFund`|`4,227`|`1,032`|`26`|`{18)`|`(280)`|`436`|`§,422`|
||`EndowmentforGeneralPurposes`|`(0)`|`9,823`|`-`|`-`|`-`|`-`|`9,823`|
||`AlagilSaudiArabiaCapitalFund`|`8,515`|`-`|`45`|`(30)`|`(503)`|`763`|`8,790`|
||`VariousPartnershipFunds`|`6,356`|`4,388`|`34`|`(23)`|`(376)`|`575`|`7,953`|
||`Subtotal`|<br>`65,925`|<br>`13,211`|<br>`348`|<br>`(237)`|<br>`(3,889)`|<br>`5,927`|<br>`81,284`|
||`TotalEndowmentFunds`<br>`-Charity`|<br> <br>`386,840`|<br> <br>`15,831`|<br> <br>`1,903`|<br> <br>`(1,286)`|<br> <br>`(21,364)`|<br> <br>`32,420`|<br> <br>`414,343`|
|||||`Investment& `|||||
|||`At1July`|`NewMoney`|`Operating`|`Resources`||`Gains/`|`At 30June`|
|||`2023`||`income`|`expended`|`Transfers`|`(losses)`|`2024`|
|||`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`RhodesScholarshipsinAustraliaPTYLtd`||||||||
||`AustraliaCapitalFund`|`10,597`|`250`|`56`|`(37)`|`(626)`|`950`|`11,190`|
||`QueenslandCapitalFund`|`3,015`|`-`|`16`|`(11)`|`(178)`|`270`|`3,112`|
||`WestemAustraliaCapitalFund`|`-`|`2,241`|`-`|`-`|`-`|`-`|`2,241`|
|||<br>`13,613`|<br>`2,491`|<br>`72`|<br>`(48)`|<br>`(804)`|<br>`1,221`|<br>`16,543`|
||`RhodesScholarshipsinCanada`||||||||
||`CanadianEndowmentCapitalFund`|`509`|`-`|`3`|`{2)`|`(30)`|`46`|`526`|
||`CanadianIsraetFund`|`2,327`|`58`|`12`|`(8)`|`(139)`|`212`|`2,463`|
||`CanadianSecondCenturyFounderFund`|`394`|`-`|`2`|`(1)`|`(430)`|`35`|`(0)`|
||`GenereuxCSLPCapitalFund`|`151`|`-`|`1`|`(1)`|`(9)`|`14`|`156`|
|||<br>`3,381`|<br>`58`|<br>`18`|<br>`(12)`|<br>`(608)`|<br>`306`|<br>`3,145`|
||`TotalExpendableEndowment`|<br> <br>`355,081`|<br> <br>`18,380`|<br> <br>`1,737`|<br> <br>`(1,174)`|<br> <br>`(19,897)`|<br> <br>`29,575`|<br> <br>`383,701`|
||`TotalEndowmentFunds- Group`|<br> <br>`403,834`|<br> <br>`18,380`|<br> <br>`1,993`|<br> <br>`(1,346)`|<br> <br>`(22,776)`|<br> <br>`33,947`|<br> <br>`434,031`|
||`RestrictedFunds`||||||||
||`ScholarshipFund`||||||||
||`ScholarshipEndowmentincomeFund`|`-`|`-`|`-`|`(2,879)`|`2,879`|`-`|`-`|
||`PublicPurposesFund`||||||||
||`Atlantic(RhodesScho!Prog)Fund`|`-`|`-`|`-`|`(1,343)`|`1,343`|`-`|`-`|
||`VariousPartnershipIncomeFunds`|`876`|`1,509`|`719`|`(12,127)`|`11,025`|`-`|`2,002`|
||`Subtotal`|<br>`876`|<br>`1,509`|<br>`719`|<br>`(13,470)`|<br>`12,368`|<br>`-`|<br>`2,002`|
||`HorizonFund`||||||||
||`AtlanticHorizon(Institute)Fund`|`88,245`|`-`|`1,002`|`(7,821)`|`(284)`|`9,615`|`90,756`|
||`VariousPartnershipIncomeFunds`|`455`|`24`|`17,378`|`(17,045)`|`(838)`|`-`|`274`|
||`Subtotal`|<br>`88,700`|<br>`24`|<br>`18,380`|<br>`(24,866)`|<br>`(822)`|<br>`9,615`|<br>`91,030`|
||`NewScholarshipFund`||||||||
||`VariousPartnershipIncomeFunds`|`3,663`|`241`|`513`|`(4,035)`|`3,917`|`-`|`4,299`|
||`Subtotal`|<br>`3,663`|<br>`241`|<br>`513`|<br>`(4,035)`|<br>`3,917`|<br>`-`|<br>`4,299`|
||`TotalRestrictedFunds- Charity`|<br> <br>`93,239`|<br> <br>`1,774`|<br> <br>`19,612`|<br> <br>`(45,250)`|<br> <br>`18,342`|<br> <br>`9,615`|<br> <br>`97,331`|
||`RhodesScholarshipsinAustraliaPTYLtd`||||||||
||`AustraliaIncomeFund`|`109`|`41`|`3`|`(709)`|`626`|`-`|`71`|
||`QueensiandIncomeFund`|`0`|`-`|`-`|`(178)`|`178`|`-`|`0`|
|||<br>`109`|<br>`41`|<br>`3`|<br>`(887)`|<br>`804`|<br>`-`|<br>`71`|





## 

|`RhodesScholarshipsin`|`NewZealandLtd`|||||||||
|---|---|---|---|---|---|---|---|---|---|
|`NewZealandFunds`||`64`|`1`|`4`||`(0)`|`-`|`-`|`68`|
|`RhodesScholarshipsin`|`Canada`|||||||||
|`CanadianIncomeFund(AnnualFund)`||`72`|`44`||`1`|`(63)`|`30`|`-`|`84`|
|`CanadianIsraelFund`||`0`|`-`||`-`|`(139)`|`139`|`-`|`-`|
|`CanadianSecondCentury`|`FounderFund`|`-`|`-`||`-`|`(430)`|`430`|`-`|`-`|
|`GenereuxCSLPIncomeFund`||`-`|`-`||`-`|`(9)`|`9`|`-`|`:`|
|||<br>`72`|<br>`44`||<br>`1`|<br>`(641)`|<br>`608`|<br>`=`|<br>`84`|
|`TotalRestrictedFunds- `|`Group`|<br> <br>`93,484`|<br> <br>`1,861`|<br> <br>`19,620`|<br> <br>|<br> <br>`(46,778)`|<br> <br>`19,754`|<br> <br>`9,615`|<br> <br>`97,554`|
|||||`Investment`|`&`|||||
|||`AttJuly`|`NewMoney`|`Operating`||`Resources`||`Gains/`|`At30June`|
|||`2023`||`Income`||`expended`|`Transfers`|`(losses)`|`2024`|
|`UnrestrictedFunds`||`£'000s`|`£°000s`|`£'000s`||`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`PublicPurposesFund`||||||||||
|`PPFIncomeFund`||`17,345`|`1,043`|`(99)`||`(4,019)`|`3,273`|`§1`|`17,593`|
|`HorizonFundUnrestricted`|`Funds`|`(0)`|`-`|`227`||`(11)`|`(216)`|`-`|`(0)`|
|`NewScholarshipFundUnrestrictedFunds`||`(2,787)`|`-`|`506`||`(202)`|`(35)`|`-`|`(2,517)`|
|`TotalUnrestrictedFunds`|`-Charity`|<br> <br>`14,558`|<br> <br>`1,043`|<br> <br>`634`|<br> <br>|<br> <br>`(4,233)`|<br> <br>`3,022`|<br> <br>`51`|<br> <br>`15,075`|
|`OtherUnrestrictedFunds`||<br>`(352)`|<br>`-`|<br>`2,284`|<br>|<br>`(2,898)`|<br>`-`|<br>`-`|<br>`(965)`|
|`TotalUnrestrictedFunds`|<br>`-Group`|<br> <br>`14,206`|<br> <br>`1,043`|<br> <br>`2,918`|<br> <br>|<br> <br>`(7,130)`|<br> <br>`3,022`|<br> <br>`51`|<br> <br>`14,110`|
|`Tota)Funds`<br>`-Group`||`511,524`<br>|`21,283`<br>|`24,531`<br>|<br>|`(55,255)`<br>|`-`<br>|`43,612`<br>|`545,695`<br>|





## 

||`RestrictedFunds`|||||
|---|---|---|---|---|---|
||`AtlanticHorizon(Institute)Fund`|`GrantfundingreceivedbyAtlanticPhilanthropiesoftheAtlanticInstitute,includedintheHorizon`||`Fund.`||
||`AtlanticBuildingFund`|`FundsreceivedfromAtlanticPhilanthropiestowardsthefundingoftheRhodesHousedevelopmentproject.`||||
|`24`|`ANALYSISOFNETASSETSBETWEENFUNDS`|||||
|||`Unrestricted`|`Restricted`|`Endowment`|`2024`|
|||`Funds`|`Funds`|`Funds`|`Total`|
||`2024`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`Intangiblefixedassets`|`319`|`-`|`-`|`319`|
||`Tangiblefixedassets`|`-`|`-`|`59,871`|`$9,871`|
||`Pooledendowmentinvestments`|`-`|`13,240`|`412,081`|`425,321`|
||`Atlanticshortterminvestments`|`-`|`72,774`|`-`|`72,771`|
||`Netcurrentassets`|`60,922`|`41,542`|`(37,922)`|`34,542`|
||`Longtermliabilitiesandprovisions`|`(47,129)`|`-`|`-`|`(47,129)`|
|||<br> <br>`14,110`|<br> <br>`97,554`|<br> <br>`434,031`|<br> <br>`545,695`|
|||`Unrestricted`|`Restricted`|`Endowment`|`2023`|
|||`Funds`|`Funds`|`Funds`|`Total`|
||`2023`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`Intangiblefixedassets`|`157`|`-`|`-`|`157`|
||`Tangiblefixedassets`|`-`|`-`|`60,563`|`60,563`|
||`Pooledendowmentinvestments`|`-`|`12,107`|`385,036`|`397,143`|
||`Capitalprojectinvestments`|`4,547`|`-`|`-`|`4,547`|
||`Atlanticshortterminvestments`|`:`|`71,054`|`-`|`71,054`|
||`Netcurrentassets`|`58,565`|`10,323`|`(41,765)`|`27,123`|
||`Longtermliabilitiesandprovisions`|`(49,063)`|`-`|`=`|`(49,063)`|
|||<br>`14,206`|<br>`93,484`|<br>`403,834`|<br>`511,524`|



|<br>`CPIassumption`|<br>`TermdependentratesinlinewiththedifferencebetweentheFixedInterestandIndexLinkedyieldcurvesless:1.0%p.a.to2030,reducing`|
|---|---|
||`linearlyby0.1%p.a.from2030.`|
|<br>`Pensionincreases(subjecttoa floorof0%)`|<br>`Benefitswithnocap:CP!assumptionplus3bpsBenefitssubjecttoa “softcap"of5%(providinginflationaryincreasesupto5%, andhalfof`|
||`anyexcessinflationover5%uptoa maximumof10%).CPIassumptionminus3bps`<br>|
|<br>`Discountrate(forwardrates)`<br>|<br>`Fixedinterestgiltyieldcurveplus:`<br>|
||`Pre-retirement:2.5%p.a.`<br>|
||<br>`Post-retirement:0.9%p.a`<br>|





## 

|<br>`Themaindemographicassumptionsusedrelatetothemortalily`|<br>`Themaindemographicassumptionsusedrelatetothemortalily`|<br>`ptions.Theseassumptions`<br>`arebasedonanalysisofthescheme'sexperiencecarriedoutaspart`|`ofthe2020actuarialvaluation,The`|
|---|---|---|---|
|`mortalityassumptionsusedinthesefiguresareasfollows:`||||
|<br>`Mortalitybasetable`|<br>`101%`|<br> `ofS2PMA“light”formalesand95%ofS3PFAforfemales`||
|<br>`Futureimprovementstomortality`|<br>`CMI`<br>|<br>`2021witha smoothingparameterof7.5,aninitialadditionof0.4%p.a,anda long-termimprovement`|<br> `rateof1.8%paformalesand1.6%`|
||`paforfemales`<br> <br>|||
|`Thecurrentlifeexpectanciesonretirementatage65are:`<br>||||
|<br>||<br>`2024`|<br> <br>`2023`|
|<br>`Malescurrentlyaged65(years)`||`23.7`|<br>`24.0`|
|<br>`Femalescurrentlyaged65(years)`||`25.6`|<br>`25.6`|
|<br>`Matescurrentlyaged45(years)`||`25.4`|<br>`26,0`|
|<br>`|Femalescurrentlyaged45(years)`||`27.2`<br>|<br>`27.4`<br>|



|`Pensionchargefortheyear`|||
|---|---|---|
|`Thepensionchargerecordedby(heTrustduringtheaccountingperiod(excluding`|`pensionfinancecosts)wasequaltothecontributionspayableafterallowanceforthe deficitrecovery`||
|`planasfollows:`|||
|<br>`Scheme`|<br>`2024`|<br>`2023`|
||`£'000s`|`£'000s`|
|<br>`UniversitiesSuperannuationScheme`|<br>`806`|<br>`970`|
|`UniversityofOxfordStaffPensionScheme`|`1`|`21`|
|<br> <br>`USStaff401kSafeHarbourPlan`<br>`NationalEmploymentSavingsTrust`<br>`AVIVA`<br>`MovementonthePensionschemedeficitcontributionfiabilities`<br>`Total`<br>|<br>`74`<br>`2`<br>`257`<br>`(2,250)`<br>`_(1,100)`<br>|<br>`42`<br>`3`<br>`123`<br>`{28)`<br>`1134 `<br>|



## 

## 

|`FINANCIALINSTRUMENTS`|||||
|---|---|---|---|---|
||||`2024`|`2023`|
|`Group`|||`£'000s`|`£'000s`|
|`Financialassetsmeasuredal`|`fair`|`value`|`498,092`|`472,744`|
||||`2024`|`2023`|
|`Charity`|||`£'000s`|`£'000s`|
|`Financialassetsmeasuredat`|`fair`|`value`|`480,638`|`455,750`|
|`Financialassetsmeasuredat`|`fair`|`valuecompriseinvestmentsecurities.`|||





## 

|`29`|`COMPARATIVESTATEMENTOFFINANCIALACTIVITIES`|`COMPARATIVESTATEMENTOFFINANCIALACTIVITIES`|||||`Unrestricted`|`Restricted`|`Endowed`|`2023`|
|---|---|---|---|---|---|---|---|---|---|---|
||`Consolidated`||||||`Funds`|`Funds`|`Funds`|`Total`|
||||||||`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`INCOMEANDENDOWMENTSFROM:`||||||||||
||`Donationsandlegacies`||||||`616`|`547`|`15,322`|`16,485`|
||`Charitableactivities`||||||`4,237`|`10,631`|`-`|`14,868`|
||`Othertradingactivities`||||||`481`|`-`|`-`|`481`|
||`Investments`||||||||||
||`Investmentincome`||||||`378`|`975`|`1,020`|`2,373`|
||`Totalreturnallocatedtoincome`||||||`7,031`|`13,872`|`(20,903)`|`-`|
||`Totalincome`||||||<br>`12,743`|<br>`26,025`|<br>`(4,561)`|<br>`34,207`|
||`EXPENDITUREON:`||||||||||
||`Charitableactivities:`||||||||||
||`Promotionandadvancementof`|`education`|||||`7,494`|`36,848`|`-`|`44,342`|
||`Raisingfunds:`||||||||||
||`Fundraising`||||||`908`|`1,802`|`-`|`2,710`|
||`Tradingexpenditure`||||||`674`|`97`|`-`|`771`|
||`Financecosts`||||||`200`|`-`|`-`|`200`|
||`Investmentmanagementcosts`||||||`19`|`307`|`1,434`|`1,760`|
||`TotalExpenditure`||||||<br>`9,295`|<br>`39,054`|<br>`1,434`|<br>`49,783`|
||`NetIncome/(Expenditure)beforegains`|||||<br>|<br> <br>`3,448`|<br> <br>`{13,029)`|<br> <br>`(5,995)`|<br> <br>`(15,576)`|
||`Net(losses)/gainsoninvestments`||||||`(104)`|`3,570`|`3,176`|`6,642`|
||`NetIncome/(Expenditure)`|||||<br>|<br> <br>`3,344`|<br> <br>`(3,459)`|<br> <br>`(2,819)`|<br> <br>`(8,934)`|
||`Transfersbetweenfunds`||||||`5,069`|`(4,618)`|`(451)`|`-`|
||`Netmovementinfundsforthe`|`year`|||||<br>`8,413`|<br>`(14,077)`|<br>`(3,270)`|<br>`(8,934)`|
||`Fundbalancesbroughtforwardaspreviouslystated`||||||`5,793`|`107,561`|`407.104`|`§20,458`|
||`Fundscarriedforwardat30June2023`|||||<br>|<br> <br>`14,206`|<br> <br>`93,484`|<br> <br>`403,834`|<br> <br>`511,524`|
|`30`|`COMPARATIVEANALYSISOF`|`MOVEMENTSONFUNDS`|||||||||
||||||`Investment`|`&`|||||
||||`At1 July`|`NewMoney`|`Operating`||`Resources`||`Gains/`|`At 30June`|
||||`2022`||`Income`||`expended`|`Transfers`|`(losses)`|`2023`|
||||`£'000s`|`£'000s`|`£'000s`||`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||<br>`End`<br>`tFunds- Per`|<br>`t`|||||||||
||`ScholarshipEndowmentFund`||`51,114`|`-`|`135`||`(187).`|`(2,756)`|`447`|`48,753`|
||`TotalPermanentEndowment`|<br>|<br> <br>`51,4114`|<br> <br>`-`|<br> <br>`135`|<br> <br>|<br> <br>`(187)`|<br> <br>`(2,756)`|<br> <br>`447`|<br> <br>`48,753`|
||`EndowmentFunds- Expendable`||||||||||
||`PublicPurposesFund`||||||||||
||`PublicPurposesCapitalFund`||`142,201`|`-`|`343`||`(474)`|`(7,021)`|`1,154`|`136,204`|
||`SecondCenturyFounderCapital`|`Fund(MMF)`|`36,872`|`-`|`97`||`(135)`|`(1,991)`|`327`|`35,171`|
||`NewZealandPartnershipCapital`|`Fund`|`10,504`|`-`|`28`||`(38)`|`(567)`|`93`|`10,019`|
||`OppenheimerSouthAfricaCapitalFund`||`8,175`|`-`|`22`||`(30)`|`(441)`|`73`|`7,798`|
||`Atlantic(RhodesScholProg)Fund`||`23,848`|`-`|`63`||`(87)`|`(1,288)`|`212`|`22,747`|
||`RSASecondCenturyFounderMMFCapitalFund`||`13,839`|`-`|`37`||`(51)`|`(1,177)`|`123`|`12,770`|
||`BanksPartnershipCapitalFund`||`6,205`|`-`|`16`||`(23)`|`(335)`|`55`|`§,918`|
||`RhodesHouseNamingCapitalFund`||`-`|`4,949`|`ie)`||`(2)`|`(8)`|`3`|`4,942`|
||`2ndCenturyFounderCompound`|`Fund`|`§,096`|`-`||`-`|`-`|`-`|`3`|`§,099`|
||`VariousPartnershipFunds`||`28,294`|`(12)`|`67`||`(104)`|`3,346`|`(97)`|`31,494`|
||`Subtotal`||<br>`275,033`|<br>`4,937`|<br>`673`|<br>|<br>`(943)`|<br>`(9,483)`|<br>`1,945`|<br>`272,162`|
||`HorizonFund`||||||||||
||`RhodesScholarshipsforUAE`||`12,398`|`-`||`-`|`-`|`(12,398)`|`-`|`:`|
||`MalaysiaCapitalFund`||`5,749`|`-`||`-`|`-`|`(5,749)`|`-`|`-`|
||`SaidSJLPCapitalFund`||`5,720`|`-`||`-`|`-`|`(5,720)`|`-`|`.`|
||`ChinaCapitalFund`||`14,430`|`-`||`-`|`-`|`(14,430)`|`-`|`-`|
||`WestAfricaCapitalFund`||`7,709`|`-`||`-`|`-`|`(7,709)`|`-`|`-`|
||`AlagilSaudiArabiaCapitalFund`||`8,819`|`-`||`-`|`-`|`(8,819)`|`-`|`-`|
||`VariousPartnershipFunds`||`8,391`|`-`||`-`|`-`|`(8,391)`|`-`|`-`|
||`Subtotal`||<br>`63,217`|<br>`-`||<br>`-`|<br>`-`|<br>`(63,217)`|<br>`-`|<br>`-`|
||`NewScholarshipFund`||||||||||
||`RhodesScholarshipsforUAE`||`-`|`-`|`33`||`(45)`|`11,728`|`110`|`11,826`|
||`MalaysiaCapitalFund`||`-`|`-`|`15`||`(21)`|`5,439`|`51`|`5,484`|
||`SaidSJLPCapitalFund`||`-`|`-`|`15`||`(21)`|`5,411`|`51`|`5,456`|
||`ChinaCapitalFund`||`-`|`13`|`37`||`(51)`|`13,677`|`124`|`13,800`|
||`WestAfricaCapitalFund`||`-`|`§`|`21`||`(36)`|`10,159`|`113`|`10,262`|
||`AlagilSaudiArabiaCapitalFund`||`-`|`22`|`19`||`(26)`|`8,437`|`63`|`8,515`|
||`VariousPartnershipFunds`||`-`|`10,271`|`24`||`39`|`211`|`116`|`10,582`|
||`Subtotal`||<br>`-`|<br>`40,311`|<br>`163`|<br>|<br>`(239)`|<br>`§5,062`|<br>`627`|<br>`65,925`|
||<br>`TotalEndowmentFunds- Charity`<br>||<br>`389,364`<br>|<br>`15,248`<br>|<br>`971`<br>|<br> <br>|<br>`(1,369)`<br>|<br>`(20,394)`<br>|<br>`3,019`<br>|<br>`386,840`<br>|





## 

|||||`Investment& `|||||
|---|---|---|---|---|---|---|---|---|
|||`At1July`|`NewMoney`|`Operating`|`Resources`||`Gains/`|`At 30June`|
|||`2022`||`Income`|`expended`|`Transfers`|`{losses)`|`2023`|
|||`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`RhodesScholarshipsin`|`AustraliaPTYLtd`||||||||
|`AustraliaCapitalFund`||`11,110`|`-`|`29`|`(41)`|`(600)`|`99`|`10,597`|
|`QueenslandCapitalFund`||`3,161`|`-`|`8`|`(12)`|`(171)`|`28`|`3,015`|
|||<br>`14,271`|<br>`-`|<br>`38`|<br>`{52)`|<br>`(771)`|<br>`127`|<br>`13,613`|
|`RhodesScholarshipsin`|`Canada`||||||||
|`CanadianEndowmentCapitalFund`||`521`|`12`|`1`|`(2)`|`(28)`|`5`|`509`|
|`Canadian|sraelFund`||`2,376`|`62`|`6`|`(9)`|`(130)`|`22`|`2,327`|
|`CanadianSecondCentury`|`FounderFund`|`413`|`-`|`1`|`(2)`|`(22)`|`4`|`394`|
|`GenereuxCSLPCapitalFund`||`158`|`-`|`0`|`(1)`|`(8)`|`1`|`151`|
|||<br>`3,468`|<br>`74`|<br>`9`|<br>`(13)`|<br>`(189)`|<br>`32`|<br>`3,381`|
|`TotalExpendableEndowment`||<br> <br> <br>`355,990`|<br> <br> <br>`15,322`|<br> <br> <br>`883`|<br> <br> <br>`(1,247)`|<br> <br> <br>`(18,597)`|<br> <br> <br>`2,730`|<br> <br> <br>`355,081`|
|`TotalEndowmentFunds`|`-Group`|<br> <br>`407,104`|<br> <br>`15,322`|<br> <br>`1,017`|<br> <br>`_(1,434)`|<br> <br>`(27,354)`|<br> <br>`3,178`|<br> <br>`403,834`|
|`RestrictedFunds`|||||||||
|`ScholarshipFund`|||||||||
|`ScholarshipEndowmentIncomeFund`||`>`|`-`|`-`|`(2,756)`|`2,756`|`-`|`-`|
|`PublicPurposesFund`|||||||||
|`Atlantic(RhodesScholProg)Fund`||`-`|`-`|`-`|`(1,288)`|`1,288`|`-`|`.`|
|`AtlanticBuildingFund`||`10,600`|`-`|`-`|`-`|`(10,600)`|`-`|`:`|
|`VariousPartnershipIncomeFunds`||`1,018`|`197`|`640`|`(12,485)`|`11,506`|`-`|`876`|
|`Subtotal`||<br>`11,618`|<br>`197`|<br>`640`|<br>`(13,773)`|<br>`2,194`|<br>`-`|<br>`876`|
|`HorizonFund`|||||||||
|`AtlanticHorizon(Institute)`|`Fund`|`91,887`|`-`|`1,076`|`(8,090)`|`(199)`|`3,571`|`88,245`|
|`VariousPartnershipIncomeFunds`||<br>`3,779`|<br>`25`|<br>`9,555`|<br>`(9,630)`|<br>`(3,274)`|<br>`-`|<br>`455`|
|`Subtotal`||<br>`95,666`|<br>`25`|<br>`10,631`|<br>`(17,720)`|<br>`(3,473)`|<br>`3,571`|<br>`88,700`|
|`NewScholarshipFund`|||||||||
|`VariousPartnershipIncomeFunds`||<br>`-`|<br>`193`|<br>`330`|<br>`(3,676)`|<br>`6,816`|<br>`-`|<br>`3,663`|
|`Subtotal`||<br>`-`|<br>`193`|<br>`330`|<br>`(3,676)`|<br>`6,816`|<br>`-`|<br>`3,663`|
|`TotalRestrictedFunds- `|`Charity`|<br> <br>`107,285`|<br> <br>`415`|<br> <br>`11,601`|<br> <br>`(37,926)`|<br> <br>`8,294`|<br> <br>`3,571`|<br> <br>`93,239`|
|`RhodesScholarshipsin`|`AustraliaPTYLtd`||||||||
|`AustraliaIncomeFund`||`153`|`45`|`3`|`(692)`|`600`|`-`|`109`|
|`QueenslandIncomeFund`||`0`|`-`|`-`|`(171)`|`171`|`-`|`)`|
|||<br>`153`|<br>`45`|<br>`3`|<br>`(863)`|<br>`771`|<br>`-`|<br>`109`|
|`RhodesScholarshipsin`|`NewZealandLtd`||||||||
|`NewZealandFunds`||`65`|`1`|`2`|`(4)`|`-`|`-`|`64`|
|`RhodesScholarshipsin`|`Canada`||||||||
|`CanadianIncomeFund(AnqualFund)`||`59`|`85`|`0`|`(101)`|`28`|`-`|`72`|
|`CanadianIsraelFund`||`-`|`-`|`-`|`(130)`|`130`|`-`|`0`|
|`CanadianSecondCentury`|`FounderFund`|`-`|`-`|`-`|`(22)`|`22`|`-`|`.`|
|`GenereuxCSLPIncomeFund`||<br>`-`|<br>`-`|<br>`-`|<br>`(9)`|<br>`9`|<br>`-`|<br>`-`|
|||<br>`59`|<br>`85`|<br>`i)`|<br>`(262)`|<br>`189`|<br>`-`|<br>`72`|
|`TotalRestrictedFunds- `|`Group`|<br> <br>`107,561`|<br> <br>`547`|<br> <br>`11,606`|<br> <br>`(39,055)`|<br> <br>`9,254`|<br> <br>`3,571`|<br> <br>`93,484`|
|||||`Investment& `|||||
|||`AttJuly`|`NewMoney`|`Operating`|`Resources`||`Gains!`|`At30June`|
|||`2022`||`Income`|`expended`|`Transfers`|`(losses)`|`2023`|
|`UnrestrictedFunds`||`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`PublicPurposesFund`|||||||||
|`PPFIncomeFund`||`7,561`|`616`|`1,202`|`(5,092)`|`13,160`|`(103)`|`17,345`|
|`HorizonFundUnrestricted`|`Funds`|`(1,768)`|`-`|`3,291`|`(3,042)`|`1,519`|`-`|`(0)`|
|`NewScholarshipFundUnrestrictedFunds`||<br>`-`|<br>`-`|<br>`599`|<br>`(1,025)`|<br>`(2,361)`|<br>`-`|<br>`(2,787)`|
|`TotalUnrestrictedFunds`|`-Charity`|<br> <br>`5,793`|<br> <br>`616`|<br> <br>`§,093`|<br> <br>`(9,160)`|<br> <br>`12,319`|<br> <br>`(103)`|<br> <br>`14,558`|
|`OtherUnrestrictedFunds`||`-`|`-`|`2`|`(136)`|`(218)`|`-`|`(352)`|
|`TotalUnrestrictedFunds`|<br>`-Group`|<br> <br>`5,793`|<br> <br>`616`|<br> <br>`§,095`|<br> <br>`(9,296)`|<br> <br>`12,100`|<br> <br>`(103)`|<br> <br>`14,206`|
|`TotalFunds- Group`||`520,458`<br>|`16,485`<br>|`17,719`<br>|`(49,784)`<br>|`:`<br>|`6,646`<br>|`511,524`<br>|
|`Asummaryofthepurposesofspecificmaterialfundsisfoundinnote23.`|||||||||





|`31`|`ANALYSISOFCHANGESINNETDEBT`|||||
|---|---|---|---|---|---|
|||`At1 July`|`Cashflows`|`Othernon-cash`|`At 30June`|
||`2024`|`2023`||`changes`|`2024`|
|||`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`Cashinhand`|`7,099`|`4,544`|`-`|`11,643`|
||`Short-terminvestments,readilyconvertibletocash`|`15,093`|`(2,258)`|`-`|`12,835`|
||`Loansfallingdueaftermorethanone year`|`(30,000)`|`-`|`7`|`(30,000)`|
||`Total`|<br> <br>`{7,808)`|<br> <br>`2,285`|<br> <br>`-`|<br> <br>`(5,522)`|
|||`AtdJuly`|`Cashflows`|`Othernon-cash`|`At30June`|
||`2023`|`2022`||`changes`|`2023`|
|||`£'000s`|`£'000s`|`£'000s`|`£'000s`|
||`Cashinhand`|`4,086`|`3,013`|`-`|`7,099`|
||`Noticedeposits(lessthan3 months)`|`9,032`|`6,061`|`-`|`15,093`|
||`Loansfallingdueaftermorethanoneyear`|`(30,000)`|`-`|`-`|`(30,000)`|
||`Total`|<br>`(16,882)`<br>|<br>`9,074`<br>|<br>`-`<br>|<br>`(7,808)`<br>|





## 

|`ANALYSISOFNETASSETSBETWEENFUNDS`|||||
|---|---|---|---|---|
||`Unrestricted`|`Restricted`|`Endowment`|`2024`|
||`Funds`|`Funds`|`Funds`|`Total`|
|`2024`|`£'000s`|`£:000s`|`£'000s`|`£'000s`|
|`intangiblefixedassets`|`287`|`-`|`-`|`287`|
|`Tangiblefixedassets`|`-`|`-`|`53,644`|`§3,644`|
|`Pooledendowmentinvestments`|`-`|`-`|`265,176`|`265,176`|
|`Netcurrentassets`|`61,514`|`2,002`|`(36,092)`|`27,425`|
|`Longtermliabilitiesandprovisions`|`(44,562)`|`-`|`-`|`(44,562)`|
||<br> <br>`17,239`|<br> <br>`2,002`|<br> <br>`282,729`|<br> <br>`301,970`|
||`Unrestricted`|`Restricted`|`Endowment`|`2023`|
||`Funds`|`Funds`|`Funds`|`Total`|
|`2023`|`£'000s`|`£'000s`|`£'000s`|`£'000s`|
|`Intangiblefixedassets`|`95`|`-`|`-`|`95`|
|`Tangiblefixedassets`|`-`|`:`|`$4,471`|`$4,471`|
|`Pooledendowmentinvestments`|`-`|`-`|`254,499`|`254,499`|
|`Capitalprojectinvestments`|`4,547`|`-`|`-`|`4,547`|
|`Netcurrentassets`|`58,616`|`876`|`(36,809)`|`22,684`|
|`Longtermliabilitiesandprovisions`|`(46,195)`|`-`|`~`|`(46,195)`|
||<br>`17,063`<br>|<br>`876`<br>|<br>`272,162`<br>|`290,101`<br>|






|`DeficitRecoveryPlans`||||
|---|---|---|---|
|`ForUSS,a deficitrecoverypianwasputinplaceaspartofthe2020valuation,whichrequiredpaymentof6.2%ofsalariesovertheperiod`||<br>`1April2022until31March2024,at`||
|`whichpointtheratewouldincreaseto6.3%.AssetoutinNote21,nodeficitrecoveryplan`|`wasrequiredunderthe2023valuationbecause`|`theschemewasinsurplusona `||
|`technica!provisionsbasis.TheTrustwasnolongerrequiredtomakedeficitrecoverycontributionsfrom1 January2024andaccordinglyreleasedtheoutstandingprovisiontothe`||||
|`incomeandexpenditureaccount.ThelatestavailablecompleteactuarialvaluationoftheRetirementIncomeBuilderisasat31March2023(thevaluationdate),whichwascarried`||||
|`outusingtheprojectedunitmethod.`||||
|`SincetheTrustcannolidentifyitsshareofUSSRetirementIncomeBuilder(definedbenefit)assetsandliabilities,thefollowingdisclosures`||`reflectthoserelevantforthoseassets`||
|`andliabilitiesasa whole.`||||
|`The2023valuationwastheseventhvaluationfortheschemeunderthescheme-specificfundingregimeintroducedbythePensionsAct2004,whichrequiresschemestohave`||||
|`sufficientandappropriateassetstocovertheirtechnicalprovisions(thestatutoryfundingobjective),Atthevaluationdate.thevalueofthe`||`assetsoftheschemewas£73.1billion`||
|`andthevalueofthescheme'stechnicalprovisionswas£65.7billionindicatinga surplusof`|`£7.4billionanda fundingratioof111%.`|||
|`Thekeyfinancialassumptionsusedinthe2023valuationaredescribedbelow.`||||
|<br>`CPIassumption`<br>`TermdependentralesinlinewiththedifferencebetweentheFixedInterestandIndexLinked`||<br>`yieldcurvesless;1.0%p.a.192030,`||
|`reducinglinearlyby0.1%p.a.from2030.`||||
|`Benefitswithnocap:CPIassumptionplus`<br> <br>`Pensionincreases(subjecttoa floorof0%)`|`3bpsBenefitssubjecttoa “softcap”of5%(providinginflationaryi `<br>`uplo5%,and`<br> <br>||`half`<br>|
|`lofanyexcessinflationover5%uptoa maximumof10%):CPIassumptionminus3bps`<br> <br>||||
|`Fixedinterestgiltyieldcurveplus:`<br> <br> <br>`Discountrate(forwardrates)`<br>||||
|`Pre-retirement:2.5%p.a.`<br>||||
|`Post-retiremant:0.9%p.a.`<br> <br>||||
|<br>`Themaindemographicassumptionsusedrelatetothe`<br>`ityass`<br>`i`<br>`These`<br>`pti`<br>`arebasedonanalysisofthescheme'sexperiencecarriedoutaspartofthe2020actuarial`||||
|<br>`luation,`<br>`The`<br>`lityassumptions`<br>`usedinthesefiguresareasfollows:`||||
|<br>`Mortalitybasetable`<br>`101%ofS2PMA“light”formalesand95%`|<br> `afS3PFAforfemales`||<br>|
|<br>`Feimprovementslomortality`<br>`CMI2021witha smoothing parameterof`<br>|<br>`7.5,aninitialadditionof0.4%p.a.anda long-termimprovementrateof1.8%paformalesand`<br>|||
|`1.6%paforfemales`<br> <br>|||<br>|
|`Thecurrentlifeexpectanciesonretirementatage65are:`||||
||<br>`2024`||<br> <br>`2023`|
|`‘Malescurrentlyaged65(years)`|`23.7`||<br>`24.0`|
|<br>`{Femalescurrentlyaged65(years)`|`25.6`||<br>`25.6`|
|<br>`Malescurrentlyaged45(years)`|`25.4`||<br>`28.0`|
|<br>`|Fematescurrentlyaged45(years)`<br>|`27.2`<br>||<br>`27.4`<br>|
|`AcopyofthefullactuarialvaluationreportandotherfurtherdetailsontheUSSschemeare`|`availableon theUSSwebsitewww.uss.co,uk.`|||
|`UniversityofOxfordStaffPensionScheme`||||
|`TheUniversityofOxfordStaffPensionScheme(OSPS)isa multi-employerhybridscheme`|`selupundertrustandsponsoredbytheUniversity.Itisthepensionschemefor`|||
|`supportstaffattheUniversity,participatingCollegesandotherrelatedemployerssuchasTheTrust.Newmembersjoiningtheschemebuild upbenefitsona definedcontribution`||||
|`basis.Memberswhojoinedbefore1stOctober2017buildupbenefitsona careeraverage`|`revaiuedearningsbasis.`|||
|`ThelatestfullactuarialvaluationfortheOSPSschemewascompletedasat31March2022.Thefundingpositionofthisschemehasimprovedsignificantlymovingfromdeficit`|||`of`|
|`£113mtoa surplusof£47malthevaluationdate.Asa result,therecoveryplanagreedatthelastvaluationisnolongerrequiredandthedeficitcontributionendedon30th`||||
|`September2023.`||||
|`TheTrusteeandtheUniversilyhaveagreeda newcontributionschedulewhichtookeffect`|`from`<br>`1October2023andtakesaccountofthebenefitimprovementsandchangesto`|||
|`membercontributionssincethefastvaluationdate.Itwasagreedthattheschemewillmeet`|`itsownrunningcostsfromthescheme'sassets,includingexpensesrelatingtoboth`|||
|`theDBandDCSectionsandthecostofpensionProtectionFund/otherstatutorylevies.`||||
|`Detailsofthekeyacturialandotherassumptionsaresetoulinthestatementoffundingprinciplesdated27June2023andcanbefoundat`||`hitps://finance.admin,ox.ac.uk/osps-`||
|`documents.`||||
|<br>`DefinedContr`<br>`PensionS:`||||
|`Thegroupoperatesa definedcontributionstaffpensionschemeforUKemployeesthrough`|`AVIVA.Theassetsoftheschemeareheldseparatelyinindependentlyadministered`|||
|`funds.Thepensioncostschargerepresentscontributionspayablebythegrouptothefundsandamountedto£257k(2023:£123k).`||||
|`The groupalsooperatesa definedcontributionstaffpensionschemeforitsUSemployees,`|`Theassetsoftheschemeareheldseparately`|`inindependentlyadministeredfunds.`||
|`Thepensioncostschargerepresentscontributionspayablebythegrouptothefundsandamountedto£74k(2023;£42k),`||||
|`Pensionchargefortheyear`||||
|`ThepensionchargerecordedbytheTrustduringtheaccountingperiod(excludingpension`|`financecosts}wasequaltothecontributionspayableafterallowanceforthedeficit`|||
|`recoveryplanasfollows;`||||
|<br>`|Scheme`|<br>`2024`<br>`2023)`|||
||`£'000s`<br>`£'000s`|||
|<br>`UniversitiesSuperannuationScheme`|<br>`806`<br>`970`|||
|`UniversityofOxfordStaffPensionScheme`|`11`<br>`21`|||
|<br> <br>`USStaff401kSafeHarbourPlan`<br>`NationalEmploymentSavingsTrust`<br>`AVIVA`<br>`MovementonthePensionschemedeficitcontributionliabilities`<br>`Total`<br>|<br>`74`<br>`42`<br>`2`<br>`3`<br>`257`<br>`123`<br>`_(2,250)`<br>`_(28)`<br>`~_(1,100)`<br>`74,134 `<br>|||
|`Pensioncontributionsof£41kwerepayableatthebalancesheetdate(2023:£-k).`||||





|`27`|`FINANCIALINSTRUMENTS`||||||
|---|---|---|---|---|---|---|
||||||`2024`|`2023`|
||`Group`||||`£'000s`|`£'000s`|
||`Financialassetsmeasuredatfairvalue`||||`265,176`|`259,047`|
||||||`2024`|`2023`|
||`Charity`||||`£'000s`|`£'000s`|
||`Financialassetsmeasuredatfairvalue`||||`265,176`|`259,047`|
||`Financialassetsmeasuredatfairvaluecompriseinvestmentsecurities.`||||||
|`28`|`COMPARATIVESTATEMENTOFFINANCIALACTIVITIES`||||||
||`Consolidated`|`Unrestricted`|`Restricted`||`Endowed`|`2023`|
|||`Funds`|`Funds`||`Funds`|`Total`|
||`INCOMEANDENDOWMENTSFROM:`|`£'000s`|`£'000s`||`£'000s`|`£'000s`|
||`Donationsandlegacies`|`1,519`|`197`||`9,687`|`11,403`|
||`Charitableactivities`|`431`|`640`||`-`|`1,071`|
||`Othertradingactivities`|`481`||`-`|`-`|`481`|
||`Investments`||||||
||`InvestmentIncome`|`290`||`-`|`673`|`963`|
||`Totalretumallocatedtoincome`|`7,031`|`6,772`||`(13,803)`|`-`|
||`Other(foreignexchangegain)`<br>`Totalincome`|<br>`(0)`<br>`9,752`|<br>`7,609`|<br>`=`<br>|<br>`=`<br>`(3,443)`|<br>`(0)`<br>`13,918`|
||`EXPENDITUREON:`||||||
||`Charitableactivities:`||||||
||`Promotionandadvancementofeducation`|`3,439`|`12,424`||`-`|`15,863`|
||`Generatingfunds:`||||||
||`Fundraising`|`823`|`4,252`||`-`|`2,075`|
||`Tradingexpenditure`|`674`|`97`||`-`|`771`|
||`Financecosts`|`200`||`-`|`-`|`200`|
||`investmentmanagementcosts`|<br>`419`||<br>`-`|<br>`943`|<br>`962`|
||`TotalExpenditure`|<br> <br>`5,185`|<br> <br>`13,773`|<br> <br>|<br> <br>`943`|<br> <br>`19,871`|
||`NetIncome/(Expenditure)beforegains`|<br> <br>`4,597`|<br> <br>`(6,164)`||<br> <br>`(4,386)`|<br> <br>`(5,953)`|
||`Netgains/(losses)oninvestments`|<br>`(103)`||<br>`-`|<br>`1,945`|<br>`1,838`|
||`NetIncome/(Expenditure)`|<br> <br>`4,494`|<br> <br>`(6,164)`||<br> <br>`(2,441)`|<br> <br>`(4,715)`|
||`Transfersbetweenfunds`|<br>`§,008`|<br>`(4,578)`||<br>`(430)`|<br>`-`|
||`Netmovementinfundsfortheyear`|<br>`9,502`|<br>`(10,742)`||<br>`(2,871)`|<br>`(4,115)`|
||`Fundbalancesbroughtforward`|<br>`7,561`|<br>`11,618`|<br>|<br>`275,037`|<br>`294,216`|
||`Fundscarriedforwardat30June2023`|<br> <br>`17,063`|<br> <br>`876`|<br> <br>|<br> <br>`272,162`|<br> <br>`290,101`|
|`29`|`ANALYSISOFCHANGESINNETDEBT`||||||
|||`At1 July`|`Cashflows`||`Othernon-cash`|`At30June`|
||`2024`|`2023`|||`changes`|`2024`|
|||`£'000s`|`£'000s`||`£'000s`|`£'000s`|
||`Cashinhand`|`3,428`|`6,034`||`-`|`9,462`|
||`Short-terminvestments,readilyconvertibletocash`<br>`Loansfallingdueaftermorethanoneyear`|<br>`93`<br>`(30,000)`|<br>`7,742`<br>`-`||<br>`-`<br>`-`|<br>`7,835`<br>`(30,000)`|
||`Total`|<br> <br>`(26,478)`|<br> <br>`13,775`|<br> <br>|<br> <br>`:`|<br> <br>`(12,703)`|
|||`At1 July`|`Cashflows`||`Othernon-cash`|`At 30June`|
||`2023`|`2022`|||`changes`|`2023`|
|||`£'000s`|`£'000s`||`£'000s`|`£'000s`|
||`CashInhand`|`3,391`|`37`||`-`|`3,428`|
||`Noticedeposits(lessthan3 months)`|`9,032`|`(8,939)`||`-`|`93`|
||`Loansfallingdueaftermorethanoneyear`|<br>`(30,000)`||<br>`:`|<br>`:`|<br>`(30,000)`|
||`Total`|<br>`(17,576)`<br>|<br>`(8,902)`<br>||<br>`=`<br>|<br>`(26,478)`<br>|