| Page | |
|---|---|
| Members ofthe Council and Advisors | 1 - 2 |
| Statement by David Smellie — Chairman of the Council |
3 |
| Annual Report ofthe Council | 4 - 17 |
| Independent Auditors Report to the Council of Radley ColTege | 18 — 21 |
| Consolidated Statement of Financial Activities | 22 |
| Statement of Financial Activities | 23 |
| Consolidated Balance Sheet | 24 |
| Balance Sheet | 25 |
| Consolidated Cash Flow Statement | 26 — 27 |
| Notes to the Financial Statements | 28 — 55 |
| Notes to the Financial Statements - Comparative Information |
56 - 61 |
| Independent Auditor | Crowe U.K. LLP |
|---|---|
| Aquis House | |
| 49-51 Blagrave Street | |
| Reading | |
| Berkshire | |
| RG1 1PL | |
| Bankers | National Westminster Bank plc |
| 11 Market Place | |
| Abingdon | |
| Oxfordshire | |
| 0X14 3HH | |
| Investment managers | Oxford University Endowment Management Limited |
| 27 Park End Street | |
| Oxford | |
| OX1 1HU | |
| Investec Wealth and Investment Ltd | |
| 2 Gresham Street | |
| London | |
| EC2V 7QN | |
| Solicitors | Farrer & Co LLP |
| 66 Lincoln’s Inn Fields | |
| London | |
| WC2A 3LH | |
| Knights Professional Services Limited | |
| Midland House | |
| West Way | |
| Botley | |
| Oxford | |
| 0X2 OPH | |
| Cater Leydon Millard Limited | |
| 18c Milton Park | |
| Abingdon | |
| Oxfordshire | |
| 0X14 4RP | |
| Pension Advisors | Mattioli Woods plc |
| Cheveley House | |
| Fordham Road | |
| Newmarket | |
| Suffolk | |
| CB8 7XN |
Crowe �
INDEPENDENT AUDITOR'S REPORT TO THE COUNCIL OF RADLEY COLLEGE FOR THE YEAR ENDED 31 JULY 2022 (CONTINUED)
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
CROWE U.K. LLP
Statutory Auditor
Aquis House 49-51 Blagrave Street Reading RG11PL
Date: 21 December 2022
Crowe U.K. LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Page 21
| Unrestricted | Restricted | Endowed | Total funds | Totalfunds | ||
|---|---|---|---|---|---|---|
| Notes | funds | funds | funds | 2022 | 2021 | |
| INCOME AND ENDOWMENTS | £000 | £000 | £000 | £‘OOO | £‘OQQ | |
| FROM: | ||||||
| Charitable activities | ||||||
| School fees | 5 | 30274 | - | - | 30,274 | 26,834 |
| Other educational income | 6 | 793 | - | - | 793 | 440 |
| Other ancillary trading income | 6 | 571 | - | - | 571 | 566 |
| Other trading activities | ||||||
| Activities forgenerating funds | ||||||
| Trading turnover - |
||||||
| Radley College Services Limited | 7a | 367 | - | - | 367 | 39 |
| Radley College Leisure Limited | 7b | 596 | - | - | 596 | 366 |
| Trading income | 6 | 10 | - | - | 10 | 5 |
| Other incoming resources | 6 | 25 | - | - | 25 | 27 |
| Investments | ||||||
| lnvestmentincome | 6 | 1,439 | 922 | - | 2,361 | 1,840 |
| Donations and legacies | ||||||
| Donations and government grants | 4 | 2613 | 2,613 | 2,171 | ||
| Total | 34,075 | 3,535 | 37,610 | 32,288 | ||
| EXPENDITURE ON: | ||||||
| Raising funds | ||||||
| Fundraising - Radley College |
9 | - | - | 9 | 10 | |
| Fundraising - Radley Foundation |
512 | - | - | 512 | 463 | |
| Fundraising - Radleian Society |
- | 96 | - | 96 | 48 | |
| Fundraising trading — |
||||||
| Radley College Services Limited | 200 | - | - | 200 | 63 | |
| Radley College Leisure Limited | 23 | - | - | 23 | 10 | |
| Bank and loan interest | 836 | - | - | 836 | 794 | |
| lnvestmentmanagementcosts | 181 | 131 | 26 | 338 | 283 | |
| 1,761 | 227 | 26 | 2,014 | 1,671 | ||
| Charitable activities | ||||||
| School and grantmaking | 29,798 | 2,173 | - | 31,971 | 28,892 | |
| Total | 8a | 31,559 | 2,400 | 26 | 33,985 | 30,563 |
| Net income/(expenditure) before | 2,516 | 1,135 | (26) | 3,625 | 1,725 | |
| gains | ||||||
| Investment property revaluation | 14,15 | (3,492) | 750 | - | (2,742) | 20,344 |
| Investment (losses)/gains | 14 | (354) | (217) | (34) | (605) | 7,961 |
| Net (expenditure)! income | 9 | (1,330) | 1,668 | (60) | 278 | 30,030 |
| Transfer between funds | 21,22 | (145) | 145 | |||
| (1,475) | 1,813 | (60) | 278 | 30,030 | ||
| Other recognised losses | ||||||
| Pension scheme remeasurements | 24 | 1,270 | - | 1,270 | 1,464 | |
| Net movement in funds | (205) | 1,813 | (60) | 1,548 | 31,494 | |
| Fundbalances atlAugust 2021 | 113.576 | 29.372 | 4.279 | 147,227 | 115.733 | |
| Fund balances at3l July2022 | 113.371 | 31.185 | 4.219 | 148,775 | 147,227 |
| Notes | Unrestricted | Restricted | Endowed | Total funds | Total funds | |
|---|---|---|---|---|---|---|
| funds | Funds | funds | 2022 | 2021 | ||
| £000 | £000 | £000 | £‘OOO | £000 | ||
| INCOME AND ENDOWMENTS | ||||||
| FROM | ||||||
| Income from charitable activities | ||||||
| School fees | 5 | 30,274 | - | - | 30,274 | 26,834 |
| Other educational income | 6 | 793 | - | - | 793 | 440 |
| Other ancillary trading income | 739 | - | - | 739 | 605 | |
| Other trading activities | ||||||
| Activities for generating funds | ||||||
| Trading income | 6 | 10 | - | - | 10 | 5 |
| Otherincoming resources | 6 | 25 | - | - | 25 | 27 |
| Investments | ||||||
| lnvestmentincome | 6 | 1,267 | 668 | - | 1935 | 1,448 |
| Donations and legacies | ||||||
| Donations and governmentgrants | 4 | 194 | 1,543 | - | 1,737 | 2,077 |
| Total | 33,302 | 2,211 | - | 35,513 | 31,436 | |
| EXPENDITURE ON | ||||||
| Raising funds | ||||||
| Fundraising - Radley College |
9 | - | - | 9 | 10 | |
| Fundraising - Radley Foundation |
512 | - | - | 512 | 466 | |
| Fundraising trading - |
||||||
| Radley College Services Limited | 81 | - | - | 81 | 37 | |
| Bank and loan interest | 836 | - | - | 836 | 794 | |
| lnvestmentmanagementcosts | 152 | 81 | 26 | 259 | 218 | |
| 1,590 | 81 | 26 | 1,697 | 1,525 | ||
| Charitable activities | ||||||
| School and grant-making | 29,448 | 2,043 | - | 31,491 | 28,538 | |
| Total | 8a | 31,038 | 2,124 | 26 | 33,188 | 30,063 |
| Net income/(expenditure) before | 2,264 | 87 | (26) | 2,325 | 1,373 | |
| gains | ||||||
| Investment property revaluation | 14,15 | (3,492) | 750 | - | (2,742) | 20,344 |
| Investment (losses)! gains | 14 | (312) | (107) | (34) | (453) | 6,166 |
| Net (expenditure)! income | (1,540) | 730 | (60) | (870) | 27,883 | |
| Transferbetween funds | 21,22 | - | - | - | - | - |
| (1,540) | 730 | (60) | (870) | 27,883 | ||
| Other recognised losses | ||||||
| Pension scheme remeasurements | 24 | 1,270 | - | - | 1,270 | 1,464 |
| Net movement in funds | (270) | 730 | (60) | 400 | 29,347 | |
| Fund balances atlAugust 2021 | 108,776 | 21,000 | 4,279 | 134,055 | 104.708 | |
| Fund balances at3l July2022 | 108.506 | 21.730 | 4219 | 134.455 | 134,055 |
RADLEY COLLEGE CONSOLIDATED BALANCE SHEET
31 JULY 2022
| FIXED ASSETS Tangible fixed assets Investments CURRENT ASSETS Land assets held for sale Stocks Debtors: amounts falling due within one year Debtors: amounts falling due after one year Cash at bank and in hand Creditors: amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Notes 13 14 15 16 17a 17b 18a Creditors: amounts falling due after more than one year 18b Net assets excluding pension liability Pension asseU (liability) NET ASSETS FUNDS Endowment funds Restricted funds Unrestricted funds - general Unrestricted funds - designated TOTAL FUNDS 24 20 21 22 22 |
2022 2021 £'000 £'000 68,753 68,674 67,121 62,268 135,874 130,942 34,700 38,000 161 144 4,477 4,471 3,368 10,132 9,267 49,470 55,250 (8,755) (8,790) 40,715 46 460 176,589 177,402 (28,101) (29,278) 148,488 148,124 287 (897) 148.775 147,227 4,219 4,279 31,185 29,372 50,924 48,548 62,447 65,028 148,775 HZ22Z |
|---|---|
The financial statements were approved and authorised for issue by the Council and were signed on its behalf on 2 December 2022.
----- Start of picture text -----
� ........ .
DC S Smellie
Chairman
----- End of picture text -----
----- Start of picture text -----
.
k
·························�··-'·······
GA Kaye ,__
Vice Chairman
----- End of picture text -----
The notes on pages 28 to 61 form part of these financial statements
Page 24
RADLEY COLLEGE BALANCE SHEET
31 JULY 2022
| Notes FIXED & NON CURRENT ASSETS Tangible fixed assets 13 Investments 14 CURRENT ASSETS Land assets held for sale 15 Stocks 16 Debtors: amounts falling due within one year 17a Debtors: amounts falling due after one year 17b Cash at bank and in hand Creditors: amounts falling due within one year 18a NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: amounts falling due after more than one year 18b Net assetsexcluding pension liability Pension asseU (liability) 24 NET ASSETS FUNDS Endowment funds 20 Restricted funds 21 Unrestricted funds - general 22 Unrestricted funds - designated 22 TOTAL FUNDS |
2022 2021 £'000 £'000 68,750 68,672 54,817 49,868 123,567 118,540 34,700 38,000 159 142 4,519 4,439 3,368 7,996 8,529 47,374 54,478 (8,672) (8,788) 38,702 45,690 162,269 164,230 (28,101) (29,278) 134,168 134,952 287 (897) 134.455 134.055 4,219 4,279 21,730 21,000 50,745 48,352 57,761 60,24 134.455 ~~1~~34.055 |
|---|---|
The financial statements were approved and authorised for issue by the Council and were signed on its behalf on 2 December 2022.:
�ii� Chairman
k ························�·· ········· I- GA Kaye c Vice Chairman
The notes on pages 28 to 61 form part of these financial statements
Page 25
| Notes | 2022 | 2021 | |
|---|---|---|---|
| £‘OOO | £‘OOO | ||
| Net cash provided by operating activities | (i) | 9,080 | 6,153 |
| Cash flows from investing activities | |||
| Investment income | 2,361 | 1,840 | |
| Additions to tangible fixed assets | (3,541) | (6,320) | |
| Purchase of fixed asset investments | (5,429) | (4,681) | |
| Costs re land held for sale | (192) | (10) | |
| Proceeds from sale offixed assets | 5 | - | |
| Proceeds from sale offixed asset investments | 666 | 834 | |
| Net cash used in investing activities | (6,130) | (8,337) | |
| Cash flows from financing activities | |||
| Bank interest paid | (836) | (794) | |
| Net cash used in financing activities | (836) | (794) | |
| Cash flows from fees in advance scheme | |||
| Cash introduced to scheme | 849 | 1,111 | |
| Income from investments | 58 | 69 | |
| Refunds and other costs | (2,211) | (2,440) | |
| Net cash used in by fees in advance scheme | (1,304) | (1,260) | |
| Change in cash and cash equivalents in the year | 810 | (4,238) | |
| Cash and cash equivalents at the beginning of the year | 9,406 | 13,644 | |
| Total cash and cash equivalents at the end ofthe year | 10,216 | 9406 | |
| 2022 | 2021 | ||
| £‘OOO | £‘OOO | ||
| Cash awaiting investment | 14 | 84 | 139 |
| Cash at bank and in hand | 10,132 | 9267 | |
| 10.216 | 9406 |
| Analysis ofchanges in net debt: | At 1 August | Cash | Non cash | At 31 July |
|---|---|---|---|---|
| 2021 | Flow | changes | 2022 | |
| £‘OOO | £000 | £000 | £‘OOO | |
| Cash | 9,267 | 865 | - | 10,132 |
| Cash awaiting investment | 139 | (55) | 84 | |
| Bond notes | (24,871) | - | (4) | (24,875) |
| Fees in advance | (6,434) | 1,304 | 275 | (4,855) |
| (21,899) | 2,114 | 271 | (19,514) |
| nciliation of cash flows from operating activities | ||
|---|---|---|
| 2022 | 2021 | |
| £‘OOO | £000 | |
| Net movement in funds | 1,548 | 31,494 |
| Depreciation charge | 3,462 | 3,256 |
| (Profit)/loss on sale of fixed assets | (5) | 8 |
| Interest paid | 836 | 794 |
| Investment income | (2,361) | (1,840) |
| Investment Iosses/(gains) | 605 | (7,961) |
| Investment property revaluations | 2,742 | (20,344) |
| (Increase)! decrease in stock | (17) | 24 |
| Decrease in debtors | 3,362 | 3,201 |
| Movement in pension fund deficit | (1,184) | (1,384) |
| Amortisation of bank fees | 4 | 4 |
| Fees in advance scheme non-cash items | (275) | (101) |
| Increase! (decrease) in creditors (excluding fees in advance) | 363 | (998) |
| Net cash provided by operating activities | 9,080 | 6, 153 |
| EE INCOME — RADLEY COLLE |
GE | ||||
|---|---|---|---|---|---|
| Group | College | ||||
| 2022 | 2021 | 2022 | 2021 | ||
| £‘OOO | £‘OQQ | £‘OOO | £‘OQO | ||
| School fees | 31,777 | 28,122 | 31,777 | 28,122 | |
| Less: scholarships, bursaries | |||||
| and exhibitions | (3,517) | (2,960) | (3,517) | (2,960) | |
| 28,260 | 25,162 | 28,260 | 25,162 | ||
| Add: bursaries from | |||||
| designated funds | 300 | 400 | 300 | 400 | |
| Add: scholarships, bursaries, | |||||
| etc, paid for by endowed | |||||
| and restricted funds | 1,714 | 1,272 | 1,714 | 1,272 | |
| 30,274 | 26,834 | 30,274 | 26,834 |
| Other educational income | 2022 | 2021 | |
|---|---|---|---|
| £‘OOO | £‘OOO | ||
| Entrance and registration fees | 786 | 432 | |
| Late payment and fee administration charges | 7 | 8 | |
| 793 | 440 | ||
| Other ancillary trading income | |||
| Insurance commissions | 2 | 19 | |
| Music lessons and earning support | 360 | 342 | |
| Shop and other | 209 | 205 | |
| 571 | - | 566 | |
| Trading income | |||
| Cellar | 10 | 5 | |
| Other incoming resources | |||
| Other | 25 | 27 | |
| Investment income | |||
| Listed investments | 1,908 | 1,640 | |
| Rental income | 130 | 124 | |
| Fees in advance scheme surplus (see note 19) | 275 | 101 | |
| Stafffund income | 37 | 34 | |
| Bank interest | 11 | (59) | |
| 2,361 | 1840 |
| - | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £‘OOO | £‘OOO | ||
| Turnover | - external | 367 | 39 |
| - Radley College | 568 | 168 | |
| Cost of sales | - external | (149) | (27) |
| - Radley College | (620) | (137) | |
| Gross profit | 166 | 43 | |
| Administration expenses | - external | (51) | (36) |
| Profit before tax | 115 | 7 | |
| Tax on profit | |||
| Resultfortheyear | 115 | 7 |
| — | |||
|---|---|---|---|
| 2022 | 2021 | ||
| L’OOO | £‘OOO | ||
| Turnover | - external | 596 | 366 |
| Cost of sales | - external | (14) | (3) |
| - Radley College | (435) | (294) | |
| Gross profit | 147 | 69 | |
| Administration expenses | - external | (9) | (7) |
| - Radley College | (59) | (39) | |
| Profit before tax | 79 | 23 | |
| Tax on profit | |||
| Resultfortheyear | 79 | 23 |
| ESOURCES EXPENDED | ||||||
|---|---|---|---|---|---|---|
| GROUP | Staff | Depreci- | Other | Total | Total | |
| costs | ation | costs | 2022 | 2021 | ||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | ||
| Cost of raising funds | ||||||
| Financing costs | - | - | 836 | 836 | 794 | |
| Investment management | - | - | 338 | 338 | 283 | |
| Fundraising for | ||||||
| voluntary resources | 382 | - | 235 | 617 | 521 | |
| Net costs of Radley College | ||||||
| Services Limited | - | - | 200 | 200 | 63 | |
| Net costs of Radley | ||||||
| College Leisure Limited | 23 | 23 | 10 | |||
| TotalforGroup | 382 | - | 1,632 | 2,014 | 1,671 | |
| Charitable activities | ||||||
| Teaching | 11,336 | 113 | 696 | 12,145 | 11,388 | |
| Welfare | 3,349 | - | 1,856 | 5,205 | 4,708 | |
| Premises | 1,263 | 3,349 | 1,928 | 6,540 | 6,241 | |
| Supportcosts ofschooling | 2,240 | - | 2,798 | 5,038 | 3,943 | |
| Total operating costs | 18,188 | 3,462 | 7,278 | 28,928 | 26,280 | |
| Grants, awards and prizes | ||||||
| (note 8b) | - | - | 3,023 | 3,023 | 2,588 | |
| Radley College War | ||||||
| Memorial Funds | 20 | 20 | 24 | |||
| Total | 18,188 | 3,462 | 10,321 | 31,971 | 28.892 | |
| Total resources expended | — | |||||
| Group | 18570 | 3,462 | 11,953 | 33,985 | 30,563 |
| RADLEY COLLEGE | Staff | Depreci- | Other | Total | Total | |
|---|---|---|---|---|---|---|
| costs | ation | costs | 2022 | 2021 | ||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OQO | ||
| Cost of raising funds | ||||||
| Financing costs | - | 836 | 836 | 794 | ||
| Investment management | - | 259 | 259 | 218 | ||
| Fundraising for voluntary | ||||||
| resources | 382 | 220 | 602 | 513 | ||
| Total | 382 | - | 1315 | 1,697 | 1,525 | |
| Charitable activities | ||||||
| Teaching | 11,336 | 113 | 696 | 12,145 | 11,388 | |
| Welfare | 3,349 | - | 1,856 | 5,205 | 4,708 | |
| Premises | 1,263 | 3,349 | 1,928 | 6,540 | 6,241 | |
| Support costs of schooling | 2,240 | - | 2,338 | 4,578 | 3,613 | |
| Total operating costs | 18,188 | 3,462 | 6,818 | 28,468 | 25,950 | |
| Grants, awards and prizes | ||||||
| (note 8b) | - | 3,023 | 3,023 | 2,588 | ||
| Total | 18,188 | 3,462 | 9.841 | 31,491 | 28,538 | |
| Total resources expended | — | |||||
| Radley College | 18,570 | 3,462 | 11,156 | 33,188 | 30,063 |
| rants, awards and prizes | ||||
|---|---|---|---|---|
| Group | Radley | College | ||
| 2022 | 2021 | 2022 | 2021 | |
| £‘OOO | £000 | £000 | £‘OOQ | |
| From Restricted Funds | ||||
| Bursaries and other grants and awards | 1,714 | 1,272 | 1,714 | 1,272 |
| Prizes, leaving awards and contribution | ||||
| to capital projects | 887 | 650 | 887 | 650 |
| From Unrestricted Funds | ||||
| Bursaries and other grants and awards | 422 | 666 | 422 | 666 |
| 3,02 | 2,588 | 3,023 | 2,588 |
| Net income is stated after charging: | 2022 | 2021 | ||
|---|---|---|---|---|
| £‘OOO | £‘OOQ | |||
| Depreciation - owned assets |
3,462 | 3,256 | ||
| Profit on disposal oftangible fixed assets | (5) | (8) | ||
| 10. | GOVERNANCE COSTS - GROUP | |||
| Governance costs include: | 2022 | 2021 | ||
| £‘OOO | £‘OOO | |||
| Auditor’s remuneration - audit |
||||
| Radley College | 32 | 28 | ||
| The Radley Foundation | 4 | 4 | ||
| Radley College Services Limited | 4 | 3 | ||
| Radley College Leisure Limited | 4 | 3 | ||
| Auditor’s remuneration — other services |
||||
| Accounts preparation | 5 | 4 | ||
| Tax compliance | 2 | 2 | ||
| Other advisory | 5 | - | ||
| Council meeting expenses | 17 | 17 | ||
| Administration and management costs | - Bursary | 48 | 45 | |
| Other professional fees | 8 | 8 | ||
| 129 | 114 |
| 11. | EMPLOYEE INFORMATION | — RADLEY COLLEGE AND GROUP | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| No. | No. | |||
| Average number of employees | ||||
| Teaching | 256 | 248 | ||
| Welfare | 173 | 172 | ||
| Premises | 36 | 36 | ||
| Support | 34 | 33 | ||
| 499 | 489 | |||
| 2022 | 2021 | |||
| £‘OOO | £‘OQO | |||
| Staffcosts (forthe above | persons) | |||
| Wages and salaries | 14,473 | 13,929 | ||
| Social security costs | 1,528 | 1,424 | ||
| Pension costs | 2,518 | 2,333 | ||
| Staff restructuring costs (see below) | 51 | 15 | ||
| 18,570 | 17,701 | |||
| The number of employees whose remuneration exceeded £60,000 was: | ||||
| 2022 | 2021 | |||
| No. | No. | |||
| Between £60,001 - £70,000 |
21 | 21 | ||
| Between £70,001 -80,000 | 15 | 11 | ||
| Between £80,001 - £90,000 |
3 | 5 | ||
| Between £90,001 -100,000 | 5 | 2 | ||
| Between £100,001 - £110,000 |
2 | 2 | ||
| Between £110,001 -E120,000 | 2 | 2 | ||
| Between £190,001 -200,000 | - | I | ||
| Between £200,001 -210,000 | I | - | ||
| Between £250,001 - £260,000 |
- | I | ||
| Between £260,001 - £270,000 |
I | - | ||
| 50 | 45 |
| ROUP | ||||||
|---|---|---|---|---|---|---|
| Assets in | ||||||
| the course | Furniture, | |||||
| Freehold | Improve- | of | equipment | |||
| land and | ments to | construc- | and | Motor | ||
| buildings | buildings | tion | computers | vehicles | Total | |
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | |
| Cost | ||||||
| At 1 August 2021 | 52,870 | 32,448 | 7,729 | 12,083 | 307 | 105,437 |
| Additions | 1,493 | 1,440 | 119 | 465 | 24 | 3,541 |
| Reallocations | 7,547 | 182 | (7,729) | - | - | - |
| Disposals | - | (55) | - | (3) | (49) | (107) |
| At31 July2022 | 61,910 | 34,015 | 119 | 12,545 | 282 | 108,871 |
| Depreciation | ||||||
| At 1 August 2021 | 13,465 | 14,380 | - | 8,688 | 230 | 36,763 |
| Charge in year | 1,268 | 1,332 | - | 826 | 36 | 3,462 |
| Disposals | - | (56) | - | (3) | (48) | (107) |
| At31 July2022 | 14,733 | 15,656 | - | 9,511 | 218 | 40,118 |
| Net book value | ||||||
| At 31 July 2022 | 47,177 | 18,359 | 119 | 3,034 | 64 | 68,753 |
| At31 July2021 | 39,405 | 18,068 | 7.729 | 3.395 | 77 | 68.674 |
| Assets | in | ||||||
|---|---|---|---|---|---|---|---|
| the course | Furniture, | ||||||
| Freehold | Improve- | of | equipment | ||||
| land and | ments to | construc- | and | Motor | |||
| buildings | buildings | tion | computers | vehicles | Total | ||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | ||
| Cost | |||||||
| At 1 August 2021 | 52,870 | 32,448 | 7,729 | 12,063 | 273 | 105,383 | |
| Additions | 1,493 | 1,440 | 119 | 464 | 24 | 3,540 | |
| Reallocations | 7,547 | 182 | (7,729) | - | - | ||
| Disposals | - | (55) | - | (3) | (49) | (107) | |
| At3lJuly2O22 | 61,910 | 34,015 | 119 | 12,524 | 248 | 108,816 | |
| Depreciation | |||||||
| At 1 August 2021 | 13,465 | 14,380 | - | 8,665 | 201 | 36,711 | |
| Charge in year | 1,268 | 1,332 | - | 826 | 36 | 3,462 | |
| Disposals | - | (56) | (3) | (48) | (107) | ||
| At 31 July 2022 | 14,733 | 15,656 | 9,488 | 189 | 40,066 | ||
| Net book value | |||||||
| At 31 July 2022 | 47,177 | 18,359 | 119 | 3,036 | 59 | 68,750 | |
| At31 July2021 | 39.405 | 18.068 | 7.729 | 3,398 | 72 | 872 |
| Radley | Radley | |||
|---|---|---|---|---|
| Group | Group | College | College | |
| 2022 | 2021 | 2022 | 2021 | |
| £‘OOO | £‘OOQ | £‘OOO | £‘OQQ | |
| Investments | ||||
| Cost or valuation | ||||
| AtlAugust2O2l | 52,619 | 40,811 | 40,358 | 30,579 |
| Additions | 5,429 | 4,681 | 4,911 | 3,831 |
| Disposals | (666) | (834) | (259) | (218) |
| Revaluations | (605) | 7,961 | (453) | 6,166 |
| 56,777 | 52,619 | 44,557 | 40,358 | |
| Cash | 84 | 139 | ||
| 56,861 | 52,758 | |||
| Freehold investment properties at | ||||
| valuation | ||||
| At 1 August 2021 | 9,510 | 9,456 | 9,510 | 9,456 |
| Revaluations | 750 | 54 | 750 | 54 |
| 10,260 | 9,510 | 10,260 | 9,510 | |
| Net book value at 31 July 2022 | 67,121 | 62,268 | 54,817 | 49,868 |
| Endow- | Design- | |||||
|---|---|---|---|---|---|---|
| Reserve | ment | ated | Restricted | Total | Total | |
| fund | funds | funds | funds | 2022 | 2021 | |
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OQO | |
| Investments (see below) | 7,780 | 4,219 | 19,098 | 13,460 | 44,557 | 40,358 |
| Freehold investment | ||||||
| properties at valuation | 3,010 | - | 7,250 | 10,260 | 9,510 | |
| Net book value at | ||||||
| 31 July 2022 | 10,790 | 4,219 | 19.098 | 20,710 | 54,817 | 49,868 |
| Investments | ||||||
| Cost or valuation | ||||||
| At 1 August 2021 | 7,893 | 4,279 | 14,969 | 13,217 | 40,358 | 30,579 |
| Additions | - | 4,480 | 431 | 4,911 | 3,831 | |
| Disposals | (48) | (26) | (104) | (81) | (259) | (218) |
| Revaluations | (65) | (34’) | (247) | (107) | (453) | 6,166 |
| Net book value at | ||||||
| 31 July 2022 | 7.780 | 4,219 | 19.098 | 13,460 | 44,557 | 40,358 |
| 2022 | 2021 | |
|---|---|---|
| £‘OOO | £‘OOO | |
| Atl August2021 | 38,000 | 17,700 |
| Additions | 192 | 10 |
| Revaluation | (3,492) | 20,290 |
| At 31 July 2022 | 34,700 | 38,000 |
| EBTORS: Amounts falling due within on | e year | |||
|---|---|---|---|---|
| Group | Radley | College | ||
| 2022 | 2021 | 2022 | 2021 | |
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | |
| Fees receivable | 284 | 417 | 284 | 417 |
| Trade debtors | 24 | 150 | 6 | 94 |
| Land sale debtors | 3,368 | 3,368 | 3,368 | 3,368 |
| Amounts owed by group | ||||
| undertakings | - | 302 | 64 | |
| Other debtors and prepayments | 801 | 536 | 559 | 496 |
| 4,477 | 4,471 | 4,519 | 4,439 |
| Group | Radley | College | |||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | ||||
| Land | sale | debtors | - | 3,368 | 3,368 |
| REDITORS: Amounts falling due within | one year | ||||
|---|---|---|---|---|---|
| Group | Radley | College | |||
| 2022 | 2021 | 2022 | 2021 | ||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | ||
| Trade creditors | 1,186 | 1,101 | 1,167 | 1,087 | |
| Amounts owed to group undertakings | - | 53 | |||
| Tax and social security | 385 | 373 | 385 | 373 | |
| Other creditors and accruals | 5,555 | 5289 | 5,491 | 5,248 | |
| 7,126 | 6,763 | 7,043 | 6,761 | ||
| Fees in advance (see note 19) | 1,629 | 2,027 | 1,629 | 2,027 | |
| 8,755 | 8j9Q | 8,672 | 8,788 |
| Group | Radley | College | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| £‘OOO | £‘QOO | £‘OOO | £‘QQO | |||
| Bond | notes | 24,875 | 24,871 | 24,875 | 24,871 | |
| Fees | in advance (see note 19) | 3,226 | 4,407 | 3,226 | 4,407 | |
| 28,101 | 29,278 | 28,101 | 29,278 |
| he m | aturit | y of | the bond notes is analysed as foll | ows: | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| £‘OOO | £000 | ||||
| More | than | five | years | 24,875 | 24871 |
| EES IN ADVANCE SCHEME - RADLEY COLLEGE AND G | ROUP | |
|---|---|---|
| 2022 | 2021 | |
| £‘OOO | £‘OOO | |
| At 1 August 2021 | 6,434 | 7,795 |
| Cash introduced to scheme | 849 | 1,111 |
| Applied to fees | (2,211) | (2,440) |
| Income from investments | 58 | 69 |
| 5,130 | 6,535 | |
| Surplus | (275) | (101) |
| Balance at 31 July 2022 (included in creditors) | 4,855 | 6,434 |
| ollege or, alternatively, attend otherfe s follows: |
e-paying charitable | schools, fees i | n advance will | be applied |
|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | |
| £‘OOO | £‘OOO | £‘OOO | £‘OQQ | |
| Within one year | 1,629 | 2,027 | ||
| Within 1 - 2 years |
1,153 | 1,529 | ||
| Within 2 — 5 years |
1,687 | 2,303 | ||
| After 5 years | 386 | 575 | ||
| 3,226 | 4,407 | |||
| 4,855 | 6.434 | |||
| Represented by: | ||||
| Cash balances | 1 | 10 | ||
| Other current liabilities | (116) | (130) | ||
| Amounts due from the College | 4,970 | 6,554 | ||
| 4,855 | 6,434 |
| Value at I | Net | Inter-fund | Value at | ||||
|---|---|---|---|---|---|---|---|
| August | investment | transfers | 31 July | ||||
| 2021 | Income | Expenditure | losses | 2022 | |||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | ||
| Endowmentfunds | |||||||
| John Philip Couzens | |||||||
| Scholarship | 2,861 | (17) | (23) | - | 2,821 | ||
| Otway Scholarship | |||||||
| (Whitby) | 78 | (1) | - | - | 77 | ||
| Arden Memorial Trust | 79 | - | (1) | - | 78 | ||
| The Radley Fund | 972 | - | (6) | (8) | - | 958 | |
| Malcolm Robinson | |||||||
| Memorial Fund | 289 | (2) | (2) | - | 285 | ||
| Total endowment | |||||||
| funds | 4,279 | - | (26) | (34) | - | 4,219 |
| Value at | Net | Value at | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 August | Grants and | investment | Inter-fund | 31 July | ||||||
| 2021 | Income | expenditure | gainsi(losses) | transfers | 2022 | |||||
| £000 | £000 | £‘OOO | £‘OOO | £000 | £‘OOO | |||||
| Restricted funds | ||||||||||
| JVP Thompson Scholarship | ||||||||||
| Trust | 8,930 | 102 | (129) | 731 | - | 9,634 | ||||
| The Dennis Silk Trust | 4,285 | 146 | (201) | (31) | 248 | 4,447 | ||||
| General Scholarship | 3,763 | 139 | (161) | (31) | 4 | 3,714 | ||||
| Hugo Rutland Memorial | 959 | 34 | (5) | (7) | 1 | 982 | ||||
| Rhona Parkinson | 311 | 11 | (6) | (2) | - | 314 | ||||
| Latymer Bursaries | 339 | 14 | (15) | (3) | - | 335 | ||||
| Leyton Thomas Trust | 119 | 4 | (5) | (1) | - | 117 | ||||
| Rosemary Porter Memorial | 125 | 5 | (1) | (2) | 127 | |||||
| Moore Charitable | 71 | 3 | (1) | (1) | 72 | |||||
| Hollington Park Trust | 127 | 4 | (1) | (1) | 129 | |||||
| Radley Youth & Social | ||||||||||
| Services Trust | 126 | 4 | - | (1) | 129 | |||||
| Swire Chinese Language | 20 | 259 | (245) | - | 34 | |||||
| Programme | ||||||||||
| Warden’s Discretion | 359 | - | (149) | - | - | 210 | ||||
| Projects and smallerfunds | 308 | 14 | (472) | (2) | 520 | 368 | ||||
| Foundation Award Fund | - | 135 | (500) | - | 365 | - | ||||
| OtherAward Funds | 295 | 11 | (13) | (2) | - | 291 | ||||
| Wates Memorial Scholarship | 99 | 3 | - | (1) | - | 101 | ||||
| Richard Morgan Award | 76 | 2 | (1) | - | 1 | 78 | ||||
| John Philip Couzens | ||||||||||
| Scholarship Fund * |
301 | 111 | (153) | (1) | - | 258 | ||||
| Otway Scholarship (Whitby) | * | 15 | 3 | - | - | - | 18 | |||
| Arden Memorial Trust | * | 5 | 3 | (3) | - | - | 5 | |||
| The Radley Fund * |
311 | 47 | (47) | (2) | - | 309 | ||||
| Malcolm Robinson * |
||||||||||
| Memorial Fund | 56 | 11 | (15) | 6 | 58 | |||||
| Total restricted funds | — | |||||||||
| College | 21,000 | 1,065 | (2,123) | 643 | 1,145 | 21,730 | ||||
| Radley Foundation funds | ** | 7,516 | 2,449 | (140) | (92) | (1,109) | 8,624 | |||
| Radlelan Society | 206 | 3 | (116) | (5) | 109 | 197 | ||||
| Radley College War Memorial | ||||||||||
| Funds | 650 | 18 | (21) | (13) | - | 634 | ||||
| Total restricted funds | — | |||||||||
| Group | 29,372 | 3,535 | (2.400) | 533 | 145 | 31,185 |
| Value | ||||||
|---|---|---|---|---|---|---|
| Value at | Net | Inter- | at3l | |||
| 1 August | investment | fund | July | |||
| 2021 | Income | Expenditure | gains/ | transfers | 2022 | |
| (losses)* | ||||||
| £‘OQO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | |
| General | ||||||
| College**: | ||||||
| General | 37,449 | 30,555 | (28,916) | 1,270 | (404) | 39,954 |
| Reserve | 10,903 | 294 | (48) | (64) | (294) | 10,791 |
| Radley College Services | - | 935 | (820) | - | (115) | - |
| Radley College Leisure | - | 596 | (517) | - | (79) | - |
| The Radley Foundation | 196 | 645 | (512) | (150) | 179 | |
| Total | 48,548 | 33,025 | (30,813) | 1,206 | (1,042) | 50,924 |
| Designated | ||||||
| Staff Fund | 103 | 37 | (24) | - | - | 116 |
| General Bursary Fund | 616 | 283 | (419) | - | - | 480 |
| Investment Land | 59,705 | 557 | (104) | (3,740) | 747 | 57,165 |
| 60,424 | 877 | (547) | (3,740) | 747 | 57,761 | |
| The Radley Foundation | 4,604 | 173 | (199) | (42) | 150 | 4,686 |
| Total | 65,028 | 1,050 | (746) | (3,782) | 897 | 62,447 |
| Total unrestricted funds | _j13,576 | 34,075 | (31.559) | (2,576) | (145) | 113,371 |
| 23. | ALLOCATION OF NET | ASSETS | |||||
|---|---|---|---|---|---|---|---|
| Group 2022 | Net | ||||||
| Fixed | Invest- | current | Long term | Intra fund | |||
| assets | ments | assets | Iiabilities* | balances | Total | ||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | ||
| Endowment funds | |||||||
| John Philip | |||||||
| Couzens | - | 2,821 | - | - | - | 2,821 | |
| Scholarship Fund | |||||||
| Otway scholarship | |||||||
| (Whitby) Fund | - | 77 | - | - | 77 | ||
| Arden Memorial | |||||||
| Trust Fund | - | 78 | - | - | 78 | ||
| The Radley Fund | - | 958 | - | - | 958 | ||
| Malcolm Robinson | |||||||
| Memorial Fund | 285 | - | - | - | 285 | ||
| 4,219 | - | - | - | 4,219 | |||
| Restricted funds | |||||||
| Consolidated | |||||||
| Scholarship and | |||||||
| similarfunds | - | 20,710 | 1,020 | - | 21,730 | ||
| The Radley | |||||||
| Foundation | - | 6,807 | 1,817 | - | - | 8,624 | |
| Radleian Society | 3 | 189 | 5 | - | - | 197 | |
| Radley College War | |||||||
| Memorial Funds | - | 624 | 10 | - | - | 634 | |
| 3 | 28,330 | 2,852 | - | - | 31,185 | ||
| Unrestricted funds | |||||||
| College: | |||||||
| General | 68,750 | - | (386) | (27,814) | (596) | 39,954 | |
| Reserve | - | 10,791 | - | - | - | 10,791 | |
| Radley College | |||||||
| Services | - | - | - | - | - | - | |
| Radley College | |||||||
| Leisure | - | - | - | - | - | - | |
| The Radley | |||||||
| Foundation | - | - | 179 | - | - | 179 | |
| 68,750 | 10,791 | (207) | (27,814) | (596) | 50,924 | ||
| Designated funds | |||||||
| Staff Fund | - | - | - | - | 116 | 116 | |
| General Bursary | |||||||
| Fund | - | - | - | - | 480 | 480 | |
| Investment Land | - | 19,097 | 38,068 | - | - | 57,165 | |
| The Radley | |||||||
| Foundation | - | 4,684 | 2 | - | - | 4,686 | |
| - | 23,781 | 38,070 | - | 596 | 62,447 | ||
| At 31 July 2022 | 68.753 | 67.121 | 40.715 | (27.814 | - | 148.775 |
| 2022 | 2021 | |
|---|---|---|
| £‘OOO | £‘OOO | |
| Present value of funded obligations | (10,207) | (13,179) |
| Fair value of scheme assets | 10,494 | 12,282 |
| Surplus! (deficit) | 287 | (897) |
| Amounts in the balance sheet | ||
| Asset! (liability) | 287 | (897) |
| Net assetl (liability) | 287 | (897) |
| hanges in the presentvalue ofthe defined benefit obligation | are as follows: | |
|---|---|---|
| 2022 | 2021 | |
| £‘OOO | £‘QOO | |
| Opening defined benefit obligation | 13,179 | 13,330 |
| Current service cost | 205 | 214 |
| Past service cost | (9) | (29) |
| Interestcost | 237 | 199 |
| Remeasurements | (3,202) | (368) |
| Actual employee contributions | 54 | 61 |
| Benefits paid | (257) | (228) |
| Defined benefit obligation atthe year end | 10,207 | 13. 179 |
| hanges in the fair value ofscheme assets are as follows: | ||
| 2022 | 2021 | |
| £‘OOO | £‘OOO | |
| Opening fair value ofscheme assets | 12,282 | 11,049 |
| Interest income | 218 | 164 |
| Actual return on plan assets, excluding interest income | (1,932) | 1,096 |
| Employer contributions | 129 | 140 |
| Employee contributions | 54 | 61 |
| Benefits paid | (257) | (228) |
| Fairvalue of scheme assets atthe yearend | 10,494 | 12,282 |
| he amounts included within the Statement of Financial | Activities are as foll | ows: |
|---|---|---|
| 2022 | 2021 | |
| £‘OOO | £‘QOO | |
| Interest income | 218 | 164 |
| Interest expense | (237) | (199) |
| Current service cost | (205) | (214) |
| Past service cost | 9 | 29 |
| Employer contributions | 129 | 140 |
| Total amount debited | ||
| within net income | (86) | (80) |
| Remeasurements | 1,270 | 1,464 |
| Total amounttransferred to the Statement of | ||
| Financial Activities | 1,184 | 1,384 |
| he major categories of scheme assets as a per | centage of total scheme assets ar | e as follow |
|---|---|---|
| 2022 | 2021 | |
| Equities | 60% | 58% |
| Corporate bonds | 17% | 25% |
| Gilts | 9% | 7% |
| Property and alternatives | 12% | 4% |
| Cash | 2% | 6% |
| sset | s held | at the | star | t of | the year. | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||||
| £‘OOO | £‘OQO | |||||||||||
| The | actual | return | on | the | scheme | assets | in | the | year | was: | (1,714) | 1,260 |
| 2022 | 2021 | |
|---|---|---|
| Discount rate at 31 July | 3.6% | 1.8% |
| Retail Price Inflation | 3.5% | 3.4% |
| Consumer Price Inflation | 2.9% | 2.7% |
| Salary growth | 3.5% | 3.4% |
| Rate of increase of pensions in deferment | 2.9% | 2.7% |
| Increases in payment for pensions earned before 01/02/2001 | 5.0% | 5.0% |
| Increases in payment: pensions earned between 01/02/2001 | 3.5% | 3.4% |
| and 05/04/2005 | ||
| Increases in payment: pensions earned after 05/04/2005 | 2.5% | 2.5% |
| Assumed life expectations on retirement age 65: | ||
| Retiring today — males |
19.6 | 19.6 |
| Retiring today — females |
22.0 | 21.9 |
| Retiring in 20 years — males |
20.9 | 20.9 |
| Retiring in 20 years —females |
23.3 | 23.3 |
| he amounts forthe curren | t and previou | s periods are | as follows: | ||
|---|---|---|---|---|---|
| 2022 | 2021 | 2020 | 2019 | 2018 | |
| £‘OOO | £‘OOO | £‘OOQ | £‘OOO | £000 | |
| Defined benefit obligation | (10,207) | (13,179) | (13,330) | (12,127) | (10,618) |
| Scheme assets | 10,494 | 12.282 | 11,049 | 11,028 | 10,332 |
| Surplus/(deficit) | 287 | (897) | (2.281) |
| t 31 July 2022 the College had future minimum lease p eases as follows: |
ayments under non-cancell | able operatin |
|---|---|---|
| 2022 | 2021 | |
| £‘OOO | £000 | |
| Equipment | ||
| Not later than 1 year | 194 | 169 |
| Laterthan 1 year and not later than 5 years | 253 | 347 |
| 447 | 516 |
| 2022 | 2021 | ||
|---|---|---|---|
| £‘OOO | £‘OOO | ||
| Group | |||
| Financial | assets measured at fair value | 56,777 | 52,619 |
| Financial | assets measured at amortised cost | 14,069 | 16,536 |
| Financial | liabilities measured at amortised cost | 31,616 | 31,261 |
| The Group’s income, expense, gains and losses in respect offinancial below: |
instruments ar | e summaris |
|---|---|---|
| 2022 | 2021 | |
| £‘OOO | £‘OOO | |
| Interest income and expense: | ||
| Total interest income forfinancial assets held at amortised cost | (11) | (59) |
| Total interest expense for financial liabilities held at amortised cost | 836 | 794 |
| 2022 | 2021 | |
| £‘OOO | £‘OOO | |
| Radley College | ||
| Financial assets measured at fair value | 44,557 | 40,358 |
| Financial assets measured at amortised cost | 11,991 | 15,766 |
| Financial liabilities measured at amortised cost | 31,534 | 31,206 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £‘OOO | £‘OOO | ||||
| Interest | income | and | expense: | ||
| Interest | income | (11) | (59) | ||
| Interest | expense | 836 | 794 |
| 8. COMPARATIVE STATEM |
ENT OF F | INANCIAL AC | TIVITIES | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowed | Total funds | ||
| Notes | funds | funds | funds | 2021 | |
| INCOME AND ENDOWMENTS | £000 | £‘OOO | £‘OOO | £000 | |
| FROM: | |||||
| Charitable activities | |||||
| School fees | 5 | 26,834 | - | - | 26,834 |
| Othereducationalincome | 6 | 440 | - | - | 440 |
| Otherancillary’ trading income | 6 | 566 | - | - | 566 |
| Othertrading activities | |||||
| Activities forgenerating funds | |||||
| Trading turnover - | |||||
| Radley College Services Limited | 7a | 39 | - | - | 39 |
| Radley College Leisure Limited | 7b | 366 | - | - | 366 |
| Trading income | 6 | 5 | 5 | ||
| Otherincoming resources | 6 | 27 | 27 | ||
| Investments | |||||
| Investmentincome | 6 | 973 | 867 | - | 1,840 |
| Donations andlegacies | |||||
| Donations andgovernmentgrants | 4 | 650 | 1,521 | 2,171 | |
| Total | 29,900 | 2,388 | 32,288 | ||
| EXPENDITURE ON: | |||||
| Raising funds | |||||
| Fundraising - Radley College |
10 | - | 10 | ||
| Fundraising - Radley Foundation |
463 | - | 463 | ||
| Fundraising - Radleian Society |
- | 48 | 48 | ||
| Fundraising trading — |
|||||
| Radley College Services Limited | 63 | - | - | 63 | |
| Radley College Leisure Limited | 10 | - | - | 10 | |
| Bankandloan interest | 794 | - | - | 794 | |
| Investmentmanagement costs | 143 | 115 | 25 | 283 | |
| 1,483 | 163 | 25 | 1,671 | ||
| Charitable activities | |||||
| School and grantmaking | 27, 191 | 1,701 | 28,892 | ||
| Total | 8a | 28,674 | 1,864 | 25 | 30,563 |
| Net income/(expenditure) before | 1,226 | 524 | (25) | 1,725 | |
| gains | |||||
| Investmentpropertyrevaluation | 14,15 | 19,844 | 500 | - | 20,344 |
| Investment (Iosses)/gains | 14 | 4,046 | 3,226 | 689 | 7,961 |
| Net income/(expenditure) | 9 | 25,116 | 4,250 | 664 | 30,030 |
| Transferbetween funds | 21,22 | (103) | 103 | ||
| 25,013 | 4,353 | 664 | 30,030 | ||
| Otherrecognisedlosses | |||||
| Pension scheme remeasurements | 24 | 1464 | 1,464 | ||
| Netmovement in funds | 26,477 | 4,353 | 664 | 31,494 | |
| Fund balances atlAugust 2020 | 87,099 | 25019 | 3.615 | 115.733 | |
| Fundbalances at3l July2021 | 113,576 | 29372 | 4.279 | 147.227 |
| Notes | Unrestricted | Restricted | Endowed | Total funds | |
|---|---|---|---|---|---|
| funds | Funds | funds | 2021 | ||
| £000 | £000 | £‘OQO | £000 | ||
| INCOMEAND ENDOWMENTS | |||||
| FROM | |||||
| Income from charitable activities | |||||
| Schoolfees | 5 | 26,834 | - | 26,834 | |
| Other educational income | 6 | 440 | - | 440 | |
| Otherancillary trading income | 605 | - | - | 605 | |
| Othertrading activities | |||||
| Activities forgenerating funds | |||||
| Trading income | 5 | 5 | |||
| Otherincoming resources | 27 | 27 | |||
| Investments | |||||
| Investment income | 820 | 628 | - | 1,448 | |
| Donations andlegacies | |||||
| Donations and government grants | 4 | 668 | 1,409 | 2,077 | |
| Total | 29,399 | 2,037 | - | 31436 | |
| EXPENDITURE ON | |||||
| Raising funds | |||||
| Fundraising - Radley College |
10 | - | 10 | ||
| Fundraising - Radley Foundation |
466 | - | 466 | ||
| Fundraising trading - |
|||||
| Radley College Services Limited | 37 | - | - | 37 | |
| Bank andloan interest | 794 | - | - | 794 | |
| Investment management costs | 118 | 75 | 25 | 218 | |
| 1,425 | 75 | 25 | 1,525 | ||
| Charitable activities | |||||
| Schooland grant-making | 26,994 | 1,544 | - | 28,538 | |
| Total | 8a | 28,419 | 1,619 | 25 | 30,063 |
| Net income/(expenditure) before | 980 | 418 | (25) | 1,373 | |
| gains | |||||
| Investment propertyrevaluation | 14,15 | 19,844 | 500 | - | 20,344 |
| Investmentgains/(losses) | 14 | 3,348 | 2,129 | 689 | 6,166 |
| Net income | 24,172 | 3,047 | 664 | 27,883 | |
| Transferbetween funds | 21,22 | ||||
| 24,172 | 3,047 | 664 | 27,883 | ||
| Otherrecognisedlosses | |||||
| Pension scheme remeasurements | 24 | 1.464 | - | 1,464 | |
| Net movement in funds | 25,636 | 3,047 | 664 | 29,347 | |
| Fund balances at 1 August 2020 | 83.140 | 17,953 | 3.615 | 104.708 | |
| Fund balances at 31 July 2021 | 108.776 | 21.000 | 4,279 | 134.055 |
- |
||||||
|---|---|---|---|---|---|---|
| Value at I | Net | Inter-fund | Value at | |||
| August | investment | transfers | 31 July | |||
| 2020 | Income | Expenditure | losses | 2021 | ||
| £‘OOQ | £‘OOO | £‘OQO | £‘OQQ | £‘OOO | £‘OOO | |
| Endowment funds | ||||||
| John Philip Couzens | ||||||
| Scholarship | 2,417 | - | (16) | 460 | - | 2,861 |
| Otway Scholarship | ||||||
| (Whitby) | 66 | - | 12 | - | 78 | |
| Arden Memorial Trust | 67 | (1) | 13 | - | 79 | |
| The RadleyFund | 821 | (6) | 157 | - | 972 | |
| Malcolm Robinson | ||||||
| MemorialFund | 244 | (2) | 47 | - | 289 | |
| Total endowment | ||||||
| funds | 3,615 | - | (25) | 689 | - | 4,279 |
| Value at | Net investment | Value at | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 August | Grants and | losses | Inter-fund | 31 July 2021 | |||||
| 2020 | Income | expenditure | transfers | ||||||
| £000 | £‘OQQ | £000 | £‘QQO | £‘OOQ | £‘OOQ | ||||
| Restricted funds | |||||||||
| JVP Thompson Scholarship | |||||||||
| Trust | 8,002 | 97 | (39) | 870 | - | 8,930 | |||
| The Dennis Silk Trust | 3,527 | 137 | (11) | 632 | - | 4,285 | |||
| General Scholarship | 3,183 | 130 | (151) | 601 | - | 3,763 | |||
| Hugo Rutland Memorial | 783 | 33 | (2) | 145 | - | 959 | |||
| Rhona Parkinson | 259 | 11 | (7) | 48 | - | 311 | |||
| LatymerBursaries | 287 | 12 | (14) | 54 | 339 | ||||
| Leyton Thomas Trust | 101 | 4 | (5) | 19 | 119 | ||||
| Rosemary PorterMemorial | 104 | 4 | (3) | 20 | - | 125 | |||
| Moore Charitable | 60 | 3 | (3) | 11 | - | 71 | |||
| Hollington Park Trust | 104 | 4 | (1) | 20 | - | 127 | |||
| Radley Youth & Social | |||||||||
| Services Trust | 104 | 4 | (1) | 19 | 126 | ||||
| Swire Chinese Language | 28 | 163 | (171) | - | 20 | ||||
| Programme | |||||||||
| Warden’s Discretion | 262 | - | 97 | - | 359 | ||||
| Projects andsmallerfunds | 227 | 16 | 22 | 43 | 308 | ||||
| Foundation AwardFund | - | 148 | (148) | - | - | ||||
| OtherAwardFunds | 249 | 10 | (12) | 48 | 295 | ||||
| Wates Memorial Scholarship | 81 | 3 | - | 15 | 99 | ||||
| Richard Morgan Award | 55 | - | 14 | 7 | 76 | ||||
| John Philip Couzens | |||||||||
| Scholarship Fund* | 218 | 104 | (41) | 20 | 301 | ||||
| Otway Scholarship (Whitby) | * | 10 | 3 | - | 2 | - | 15 | ||
| Arden Memorial Trust | * | 4 | 3 | (3) | 1 | - | 5 | ||
| The Radley Fund* | 265 | 45 | (47) | 48 | - | 311 | |||
| Malcolm Robinson * |
|||||||||
| MemorialFund | 40 | 11 | (1) | 6 | - | 56 | |||
| Totalrestricted funds— | |||||||||
| College | 17,953 | 945 | (527) | 2,629 | - | 21,000 | |||
| Radley Foundation funds | ** | 6,352 | 1,425 | (1,265) | 1,004 | - | 7,516 | ||
| Radleian Society | 130 | 2 | (47) | 18 | 103 | 206 | |||
| Radley College WarMemorial | |||||||||
| Funds | 584 | 16 | (25) | 75 | 650 | ||||
| Total restricted funds | |||||||||
| Group | 25.019 | 2388 | (1.864) | 3.726 | 103 | 29.372 |
| - | - | ||||||
|---|---|---|---|---|---|---|---|
| Value | |||||||
| Value at | Net | Inter-fund | at 31 | ||||
| 1 | August | investment | transfers | July | |||
| 2020 | Income | Expenditure | gains! | 2021 | |||
| (losses) * |
|||||||
| £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | £‘OOO | ||
| General | |||||||
| College | |||||||
| General | 34,970 | 27,767 | (26,330) | 1,464 | (422) | 37,449 | |
| Reserve | 10,122 | 365 | (45) | 826 | (365) | 10,903 | |
| Radley College Services | - | 208 | (201) | - | (7) | - | |
| Radley College Leisure | - | 365 | (342) | - | (23) | - | |
| The Radley Foundation | 278 | 631 | (463) | - | (250) | 196 | |
| Total | 45,370 | 29,336 | (27,381) | 2,290 | (1,067) | 48,548 | |
| Designated | |||||||
| StaffFund | 83 | 34 | (14) | - | - | 103 | |
| GeneralBursary Fund | 1,026 | - | (661) | - | 251 | 616 | |
| Investment Land | 36,939 | 378 | (441) | 22,366 | 463 | 59,705 | |
| 38,048 | 412 | (1,116) | 22,366 | 714 | 60,424 | ||
| The Radley Foundation | 3,681 | 152 | (177) | 698 | 250 | 4,604 | |
| Total | 41,729 | 564 | (1,293) | 23,065 | 964 | 65,028 | |
| Total unrestricted funds | 87,099 | 29,900 | (28,674) | 25,354 | (103) | 113,576 |
| Group 2021 | Net | ||||||
|---|---|---|---|---|---|---|---|
| Fixed assets |
invest- ments |
current assets |
Long term liabilities* |
Intra fund balances |
Total | ||
| £‘OOO | £000 | £000 | £‘OQO | £‘OQO | £‘OOO | ||
| Endowment funds | |||||||
| John Philip | |||||||
| Couzens | |||||||
| Scholarship Fund | - | 2,861 | - | - | - | 2,861 | |
| Otway scholarship | |||||||
| (Whitby) Fund | - | 78 | - | - | - | 78 | |
| Arden Memorial | |||||||
| Trust Fund | - | 79 | - | - | - | 79 | |
| The Radley Fund | - | 972 | - | - | - | 972 | |
| Malcolm Robinson | |||||||
| MemorialFund | - | 289 | - | - | 289 | ||
| - | 4,279 | - | - | 4,279 | |||
| Restrictedfunds | |||||||
| Consolidated | |||||||
| Scholarship and | |||||||
| similarfunds | - | 19,717 | 1,283 | - | - | 21,000 | |
| The Radley | |||||||
| Foundation | - | 7,034 | 482 | - | - | 7,516 | |
| Radleian Society | 2 | 120 | 84 | - | - | 206 | |
| Radley College War | |||||||
| Memorial Funds | - | 642 | 8 | - | - | 650 | |
| 2 | 27,513 | 1,857 | - | - | 29,372 | ||
| Unrestrictedfunds | |||||||
| College: | |||||||
| General | 68,672 | - | (329) | (30,175) | (719) | 37,449 | |
| Reserve | - | 10,903 | - | - | - | 10,903 | |
| RadleyCollege | |||||||
| Services | - | - | - | - | - | - | |
| Radley College | |||||||
| Leisure | - | - | - | - | - | ||
| The Radley | |||||||
| Foundation | - | - | 196 | - | - | 196 | |
| 68,672 | 10903 | (133) | (30,175) | (719) | 48,548 | ||
| Designated funds | |||||||
| StaffFund | - | - | - | - | 103 | 103 | |
| General Bursaiy | |||||||
| Fund | - | - | - | - | 616 | 616 | |
| Investment Land | - | 14,969 | 44,736 | - | - | 59,705 | |
| The Radley | |||||||
| Foundation | - | 4,604 | - | - | - | 4604 | |
| - | 19,573 | 44,736 | - | 719 | 65,028 | ||
| At 31 July 2021 | 68,674 | 62,268 | 46,460 | (30, 175) | - | 147,227 |