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|INDEX|Page|
|---|---|
|Trustees, Officers and Advisers|2-4|
|CounciVs Report|5-19|
|Statement ofTrustees' Responsil&ilities|20|
|Independent
Auditor's Report|21-22|
|Statements ofFinancial Activities|23|
|Balance sheets|24|
|Cash Flow Statement|25|
|Statement ofAccounting
Policies|26-29|
|Notes to the Financial Statetnents|30&9|
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|The|Council members
during the year aad up tothe date the Snancial|statements|were|signed were:|
|---|---|---|---|---|
||Giles IHeadsmen CBE(Chairman ofCouncil, Chairman ofDevelopment,
Nominations
Committees)|||Chairman ofMC (Overseas) Ltd and|
||Prof SirJohn Bell||||
||Michael Birkin (appointed
19March 2022)||||
||Pctmy Duneron
Watt (Chairman ofHealth and Wellbeing
Committee)||||
||Piers Coleman||||
||Peter Denton (Chairman ofthe Finance Committee)||||
||BdElliott (appointed
Chahrrum ofAcademic Committee 26|January 2022)|||
||Tania Freeman||||
||Revd Stephen Gray||||
||Tim Martindenkins
(appointed
Chairman ofthe Foundation
ProfCav Simon Mordant|Trust 19March||2022)|
||Rob Perrins (Chairman ofBuildings Committee)||||
||Ros King (appointed
19Match 2022)||||
||Sabine Reeves (appointed
19March 2022)||||
||Revd Lindsay Yates (resigaed
18June 2022)||||
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|||Lloyds Bank|
|---|---|---|
|||Crest Way|
|||Bamwood|
|||Gloucester|
|||Gloucestembire|
|||GIA 3RL|
|Solicitors:||Fewer tk Co|
|||66Lincoht's Inn Fields|
|||London|
|||WC2A 3LH|
|Auditors:||Haysmacintyre
LLP|
|||Statutory Auditors|
|||10Queen Street Place|
|||London
BC' 1AG|
|Investment|Advisers:|Rathbones|
|||I Carson Street|
|||London|
|||W1JSFB|
|Insurance|Bmkers.|PIBInsurance Brokers|
|||Poppleton Lane|
|||Low Poppleton Lane|
|||York|
|||North Yorkshire|
|||YO26 6GZ|
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||Year 7gr 8 SAGSpupils visit the College once per fortaight on aWednesday
afiemoon.
This scheme has|
|---|---|
||recently been reviewed.
In place ofstudying
Latin, which they cannot then take forGCSE, SApupils now
participate
in a carousel ofthe following
activities:
creative writing, computer science, research skills in the|
||library, science experiments,
classical civilisation,
local history.|
||The College supplies two teacher Governors
at SA.Each ofthese Governors
spends approximately
200 hours
smff|
||per year on Swindon Academy work. They also provide support with pupil disciplinary
hearings, staff|
||complaints
and prize givings.|
||The College's Guidance specialists provide support
with university
applications
fium SApupils, including to
the tnost competitive
destinations.
One member ofthe Guidance
visit SAfortwo hours every Wednesday|
||to help Sixth Formers apply to Higher Education
and other courses (switched March 2020to online help and|
||now in person fiom November 2021). The College continues to offer specialist help for university
entrance|
||exams, and pupils am invited to Oxbridge lessons and interview training.|
|(iv)|Year 11SApupils entered aresearch project competition
at the College. This will, hopefully,
be an annual|
||event, with generous prizes supplied
by the College.|
|(v)|Two pupils 0om SAjoined the College in September 2022 on full bursaries as part ofan ongoing bursary|
||programme
with the Academy
(there are five former SApupils in the College's Sixth Foun m total).|
|(vi)|We continue to be involved
in the Fitzwilliam
Project, an access and mentoring
pmj actorganised by
Fitzwilliam
College Cambridge
for SApupils.
Afier agood deal ofdisruption
there was aresideatial
stay at
Fitzwilliam
in September 2022, which the College helped to staff.|
|(vii)|The Year 10exchange for pupils fium the two schools has been reinstated,
and agroup of12pupils from each|
||will participate
in this in November 2022.|
|(viii)|Since the start ofthe SAGS,the College has hosted afiee week-long academic Year 7 summer school, in|
||conjunction
with Imperial College London, for GS pupils. This resumed
in Tune 2022 forboth Year 7 and Year|
||8pupils; Imperial's
outreach work in schools had not yet been resumed,
but the College somued and financed|
||an alternative
pmvision,
Whilst the course could not be residential
(owing to the College's ongoing pmvision
ofaccommodation
for isolating pupils), the usual
'beyond-the-syllabus'
pmvision
was nonetheless
possible|
||with SApupils travelling
in for whole days.|
|(ix)|An Open Morning for Year 6 pupils thinking
about applying
to the SAGSwas hosted atthe College in
November 2021.|
|(x)|Members ofthe College's Management
Team visited the SASixth Form, and hosted areciprocal visit to the|
||College, with aview to helping SAreview their academic strategy for these year groups as their Sixth Foun|
||continues to grow and improve.|
|(xi)|The Wednesday
Aiteruoon
Swindon Academy
Prinuuy
School Reading Pmgramme
continues to be very wefi|
||supported
by Marlborough
College pupils. Itresutned
in person in September 2021 and 26pupils now visit SA|
||each Wednesday,
supported
by three College teachers.|
|(xii)|The annual SA Carol Service took place m tbe College's Chapel in December 2021 and will again be an annual|
||evalit.|
|(xiii)|The College provided
on site visits for Year 9GS pupils in the summer
term of2021,with afocus on scientific|
||experiment
and investigation.
In addition, SApupils (and others fiom nearby primary
schools) are invited to|
||scientific talks and demonstrations
at the College.|
|The College is currently
working
with SAto re-boot further partnership
links, ofwhich the following are examples:||
||Residential
weekends atMarlborough
College, with SApupils staying overnight
and using the College|
||facilities, with emphasis
on a particular
curriculum
area each time. There are usually
12pupils and two SA|
||teachers attending
on each occasiim.|
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|||||Croup||College||
|---|---|---|---|---|---|---|---|
||||2022|2021|2022||2021|
|||Notes|6'000|8'000|8'000||f.'000|
|Tan@bio
loves bnents||6
8|146344
133,894
16,40818,279||115446
16432||107~1
18,403|
||||162,652|152,173|132,078||125,644|
|DEBTORSDUEINMORE THAN||||||||
|ONE YEAR||||||||
|Deferred TaxAsset|||2,130|||||
|CURRENT ASSETS||||||||
|Listed investments|||2,11$|10,275|2,11$||10375|
|Stock|||553|535|93||53|
|Debtors|||5,016|6,176|3,077||4,328|
|Cash atbank and in|hand||21,401|15,044|10,408||5369|
||||29,088|32,030|15,696||20,025|
|Less:Creditors - Amounts||||||||
|gdling due within one year||i0|(23,797)|(19,196)|(13,649)||(9,704)|
|Net cununt assets|||5,291|12,$34|2,047||10,321|
||||170,073|165,007|134,125||135,965|
|Creditors - Amounts|gdting|||||||
|due atter one year|||(64,127)|(59,147)|(31,304)||(31,597)|
|NETASSETS|||f105,946|f105,861|f102,821||f104,368|
|REPRESENTED BY:||||||||
|Umestricted
Funds||13|94,000|92,097|90,$75||90,604|
|Restricted Funds||17|43|41|43||41|
|Endowed Funds||18|11,903|13,723|11,903||13,723|
|||12|f105,946|6105,$61|f.102,&21||6104,368|
##
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|||||2022||2021||
|---|---|---|---|---|---|---|---|
|||||f'000|OOOO|f'000|f'000|
|Reconciliation ofnet income to nct cash flow from operating||||||||
|acflvities||||||||
|Net income per Statement ofFinancial Activities
Depreciation
charges tk Impairment||||823
5,359||3,844
5,151||
|Amortisation
cost for refundable
deposits||||(108)||243||
|Gain on sale oftangible fixed assets||||(41)||(5)||
|Bank interest and investment
income||||(879)||(640)||
|Net gain on investments
Interest payable
Sncrcase/DDccrcme
in stock||||2,303
1,639
(3)||(2,676)
2,417
112||
|(tuctvase)DDecrease
in debtors||||1,374||(1,097)||
|Increase/(Decrease)
in creditors||||3,483||(1,756)||
|IncresscD(Decrease) ia lease creditors||||1,345||2,324||
|Reversal ofimpairment
loss||||(2,703)||||
|qbx charge for the year (MBast)||||(1,940)||||
|Tax paid in the year (MBast)||||(54)||||
|Nct cash provided by operating
activities|||||1049$||7,917|
|Cash flows from investing
activities
Bank interest and investment
iacome||||879||640||
|Pmchase oftangible fixed assets||||(12,266)||(5,961)||
|Pmceeds fiom sale oftangible fixed assets||||43||5||
|Purchase ofinvestments||||(5,202)||(5,567)||
|Proceeds &om sale ofinvestments||||5,798||5,417||
|Purchase ofgovernment
securities and corporate bonds
Pmceeds Oom sale ofgovernment
securities and corporate|||bonds|(969)
1,848||4,000||
|Net cash used in investing
activities|||||9469||(1,466)|
|Cash flows from financing activities
Interest payable
New entrance deposits received
New fees in advance received||||(1,639)
1,627
172||(2,417)
2,730
270||
|Release offees in advance||||(349)||(787)||
|Entrance deposits repaid||||(1,442)||(2,598)||
|Capital repayments
on lease creditors||||(56)||||
|Net cash used in finandag
activities|||||(1,687)|||
|Change in cash and sash equivalents|ia tbe reporting|period|||(958)||f3,649|
|Foreign exchange movements|||||911|||
|Cash and cash equivalents
at the beginning ofthe reporting|||period||23,261||19,612|
|Cash snd cash equivalents
atthe end|ofthe reporting|period|||623414||f23461|
|'||||||||
|Anal
sisofcash aud cash a
lents||||||||
|Cash atbank and in hand|||||21,401||15,044|
|Uninvested
cash included
in invesnnents|||||1,813||8,217|
|Total cash and cash equivalents:|||||823414||f23461|
|An analysis ofnet debt is included
in note 23.||||||||
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|El)|Fees and similar income
Feesmceivable and charges for services are accounted for in tbe year in which the service ispmvided. Feesreceivable src stated
after deducting
allowances,
scholarships
and other remissions
granted by the College, and include contributions
received fiom|
|---|---|
||Associated Funds fix Scholarships,
Bursaries and other gmnts.|
|e)|Donations, gifis and legacies
Donations
received
for tbe general
purposes of the College arc ctudited
to College funds. Whee the Council
desigaates
donations for specific purposes they are credited to designated
funds, to distinguish
them from direct school income. Donations
subject to specific wishes of tbe donors are credited to relevant
restricted
funds, or to endowed
funds,
where the capital is|
||pctiuallellt.|
||Govemmeat
grant income represents the total amount claimed &omHMRC under the CJRS.The income isaccounted for in the|
||period in which the associated salary payments
are made to furloughed
sbdf.|
||Expenditure
Bxpecditure
is allocated
to expense
headings
either
on a direct cost basis, or apportioned
according
to time spent.
The
irrecoverable
element ofvalue added tsx is included
with the item ofexpense to which itrelates.|
||Leases|
||The Schools' rentals paid under operating
leases, in which substantially
all the risks and rewards ofownership
arc retained
by|
||the lessor, are charged to incoine on astnught line basis over the lease term.|
||MCM's leases ofassets where they assume
substantially
all risks and rewmds
incidental
to ownership ofthe leased assets are
classified ss finaace leases. The leased assets and the corresponding
lease liabilifies (netoffinance charges) under finance leases
sre recogaised on the balance sheet as plant and equipment
and bormwings
respectively,
atthe inception ofthe leases based on
the lower ofthe fair value ofthe leased assets and the present value ofthe minimum
lease payments.|
||Bach lease payment is apportioned
between the finance expense and the reduction ofthe outstanding
lease liability. The finance
expense is recognised
in the income statement
on a basis that mfiects a constant periodic rate ofinterest on the finance lease|
||liability.|
||Financial instruments|
||Only the College hns financial assets and financial
liabiTities ofakind that qualify as basic fmancial
instrmnents.
Basicfinancial
instruments,
includmg
trade aad other debtom
and creditors
are initially
recognised
at transaction
value
and subsequently|
||measured
attheir settlement
value.|
||Tangible fixed assets
The College land and buildings
in existence at 1July 1999were valued by the Council on the following basis;|
||~
Specialised buildings
were valued using depreciated
replacement
cost. Specialised buildings
are buildings
such as schools,
"where there is no competing market demand &om other organisations
using these types ofproperty
in the locality" and are
therefore rarely sold on the open market for single occupation for a continuation oftheir existing use, exoept as part ofa
sale ofthe business
in occupation. Acquisitions
of specislised
buildings
subsequent
to I July 1999are capitalised
snd|
||subsequently
depreciated
in accordance with the College's normal accounting policies.|
||~
Non-specialised
buildings
were valued at existing use value. Non-specialised
buildings
include residential
buildings
outside|
||the College campus
and shops.|
||~
Land related to speciahsed buildings
were valued on sn agricultural
value basis.|
||~
Land relating to non-specialised
buildings
were valued atopen market value.|
||The College does not intend to adopt apolicy ofrevaluation.
Thus the buildings
valuations
at 1 July 1999are fiozen subject to|
||any adjusnnents
necessary resulting
fiom an impairment
review.|
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||FEESRECEIVABLE||2022||||2021|
|---|---|---|---|---|---|---|---|
|||f'000|||f'000||f'000|
||Full fees for pupils atthe Schools|||54,866|||52,930|
||Less:Fees paid by associated funds|||(701)|||(371)|
|||||54,165|||52,559|
||Less:Deductions|||||||
||Scholarships|273||||490||
||Bunaries and other deductions|4,838||||4,529||
|||||(5,111)|||(5,019)|
|||||49,054|||47,540|
||Grants from Associated Funds|||701|||371|
||Receivable by the Schools|||K49,755|||K47,911|
|2a,|OTHER TRADING ACTIVITIES|||||K'000|V000|
||Registration
and acceptance fees|||||412|417|
||Commission
received|||||49|39|
||Rental income|||||119|121|
||Miscellaneous|||||265|283|
||Gain on disposal oftangible fixed assets|||||40|7|
|||||||f885|f867|
|2b.|DONATIONS AND LEGACIES|||||||
||Donations
include
Knil (2021:K677,000) received|in relation|to the Coronavirus
Job Retention|||Scheme implemented
by||
||the Government
from March 2020 as a result ofthe|countrywide|lockdown|in relation to|the global pandemic.|||
||ANALYSIS OFTOTAL EXPENDITURE|||||||
|||||Staff|Other|direct|2022|
||2022|||Costs|Costs||Total|
|||||P000|6'000||8'000|
||Costs ofraisins funds|||||||
||Irading costs|||280||683|963|
||Finance costs|||||3,737|3737|
||Marketing
and fuadraising|||||436|1,028|
||Investment
management|||||70|70|
||Charitable
activities|||||||
||College operating costs:|||||||
||Teaching costs|||19,049||2,203|21,252|
||Summer School expenses|||517||794|1,311|
||Welfare costs|||4,122||2,671|6,793|
||Premises costs|||2,694||8,497|11,191|
||Support costs|||1,468||3,898|5,366|
||Grants, awards and prizes|||||76|76|
||Depreciation
and impairment|||||5,359|5,359|
||Reversal ofimpairment
charge||||(2,703)||(2,703)|
||Tax charge
for the year (M||||(2,103)||(2,103)|
||East)|||||||
|||||K28,722|K23,618||K52,340|
##
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|ANALYSIS OF|TOT|AL EXPENDITU|RE (continued)|||
|---|---|---|---|---|---|
||||Stall|Other direct|2021|
|2021|||Costs|Costs|Total|
||||0'000|8'000|$'000|
|Costs ofraisina|fuads|||||
|Trading costs|||2$0|629|909|
|Finance costs||||2,417|2,417|
|Marketing
and|fundraising||514|23$|752|
|Investment
management||||66|66|
|Charitable
activities||||||
|College operating costs:||||||
|Teaching costs|||19,064|2,096|21,160|
|Summer School expenses|||198|221|419|
|Welfare costs|||3,813|2,021|5,834|
|Premises costs|||2,670|6,$80|9,550|
|Support costs|||2P37|2,316|4,553|
|Gnmts, awards|and prizes|||74|74|
|Depreciation||||5,151|5,151|
||||$28,776|$22,109|f50,$85|
|||||2022|2021|
|||||$'000|P000|
|Sugtmrt Costs||||||
|Administrative|salaries|||2,463|2,237|
|OIScecosts||||684|599|
|Professional fees||||542|390|
|Other administrative||costs||1,550|1,205|
|Governance costs||||127|122|
|||||$5,366|f4,553|
##
||||2022|2021|
|---|---|---|---|---|
||||8'000|8'000|
|Expenditure
includes:|||||
|Equipment
rental|||187|268|
|Depreciation|||5,359|5,151|
|Auditors'
remuneration|||53|49|
|Fees paid to subsidimy
auditors|||14|13|
|Council members'
expenses reimbursed|||1||
|Council members'
liability insurance|||15|13|
|Staff Costs|||||
|Wages and salaries|||23,885|24,108|
|Social security costs|||IP54|1,788|
|Other pension costs|||2,656|2,578|
|Redundancy
costs|||227|302|
||||828,722|828,776|
|The average number ofemployees ofthe during||the yrxu were:|Nos||
|Teaching staff|||276|278|
|Teachmg Support staff|||74|77|
|Non-teaching
staff|||357|366|
|Ttading activities|||9|11|
||||716|732|
|The number ofhigher paid employees|was:||||
||||Nos|Nos|
|qhxablc emoluments
band:|||||
|f60,000
f.70,000|||46|48|
|$70,000
f80,000|||47|34|
|680,000
690,000|||13|10|
|F90,000
- 6100,000|||3||
|6100,000
- 6110,000||||2|
|8110,000
- 8120,000||||I|
|6120,000
- f.130,000||||1|
|8140,000
- 8150,000||||1|
|f150,000
- 6160,000||||2|
|6180,000
- 6190,000|||||
|8190,000
- 8200,000|||||
|8220,000
- f230,000|||||
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|6.|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|||||||
|---|---|---|---|---|---|---|---|---|
||||COLLEGE||SUBSIDARY COMPANIES|||GROUP|
|||Land k,|||Land dr||||
||2022|Buildings|Equipment|Total|Buildings|Equipmeat|Total|Total|
|||8'000|8'000|8'000|f'000|8'000|f'000|8'000|
||COST||||||||
||1 September 2021|130,438|11,411|141,849|34,175|4,616|38,791|180,640|
||Additions|10,22&|1,509|11,737|233|331|564|12,301|
||Disposals||(192)|(192)||(39)|(39)|(231)|
||Exchange effects||||3,420|424|3,$44|3,844|
||31August 2022|140,666|12,728|153394|37,828|5,332|43,160|196,554|
||DEPRECIATION||||||||
||1September 2021|25,265|9,344|34,609|9,655|2,4$2|12,137|46,746|
||Charge for the year|2,700|732|3,432|1,417|510|1,927|5,359|
||Disposal||(io3)|(193)||(34)|(34)|(227)|
||Reversal ofimpairment||||(2,703)||(2,703)|(2,703)|
||Loss||||||||
||Exchange effects||||858|277|1,135|1,135|
||31August 2022|27,965|9,883|37,848|9,227|3,235|12,462|50,310|
||NET HOOK VALUES||||||||
|||8112,701|82,845|6115,546|82&,601|f2,097|830,69&|&146,244|
||31August 2022||||||||
||31August 2021|&105,173|f2,068|&107,241|f24,520|f2,134|&26,654|8133,894|
|were incomp|lete at31August 2022.|||
|---|---|---|---|
|The amgible|Sxed assets are wholly used for the Group activities.|||
|Capital commitmcnts:||?022|2021|
|||f'000|0'000|
|Contracted|for but not provided
in these accounts|8125||
|Authorised|but not contracted for|K&,972|f3,478|
##
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##
|he results ofth|e Co|llege's subsidiary
compani|es
are summa|rised|below:||||
|---|---|---|---|---|---|---|---|---|
|||Enterprises|||M East||Overseas||
|||2022|2021||2022|2021|2022|2021|
|||6'000|8'000||6'000|8'000|8'000|F000|
|Tlllllovcf||1,32$|1,065||14,407|15452|||
|Costofsales||(939)|($66)||||||
|Gross pmfit||3$9|199||14,407|15352|||
|Teaching|||||(6,189)|(7~2)|||
|Welfare|||||(1,144)|(1,096)|||
|Pacilities|||||(2,322)|(2270)|||
|Administration||(213)|(200)||(4,1$3)|(3,$67)|||
|Operating||176|||569|817|||
|(loss)/progt|||||||||
|Gig Aid donation/||(169)|80||||||
|adjustment
to|the||||||||
|College|||||||||
|Actuarial Movement
(9)|||||||||
|Finance Costs|||||(3,743)|(1,443)|||
|Reversal||of|||2,703||||
|impairment
oharge|||||||||
|Tax
charge|for|the|||2,103||||
|yem|||||||||
|||6(2)|687||$1,632|f(626)|||
|ctions
between the||College and its subsidiary|undertahngs|were as follows:|||||
|MCEL|||f'000||M East|||0'000|
|Payment|Som|the College to MCEL|(164)||Payments|&om MEast to the College:||687|
|Payment|&om|MCELto the College||17|||||
|||||37|||||
##
|8.
FIXEDAND CURRENT ASSETINVESTMENTS|8.
FIXEDAND CURRENT ASSETINVESTMENTS|8.
FIXEDAND CURRENT ASSETINVESTMENTS|Fixed Asset|Current Asset|
|---|---|---|---|---|
||||Investments|Investments|
|2022|||8'000|8'000|
|Listed securities:|||||
|Market value at31August 2021|||15,253|2,469|
|Additions|||5,079|968|
|Disposal at opening market value|||(6,918)|(1,945)|
|Revaluation|||(700)|(99)|
||||12,714|1,393|
|Endovnnent
property|||7||
|Cash atbank for re-investment|||1,088||
|Rare books|||816||
|Investment
properties|(revalued 31August 2022)||1,783||
|Investments
in subsidiaries|||||
|Market value at 31August 2022|||616,408|V.,I18|
|Historical costs oflisted securities|||411,469|61,481|
|Listed secmtties are represented||by:|||
|UK Government
fixed|interest||202|189|
|UK fixed interest and|index linked||327|894|
|Foreign Fixed Interest||||310|
|UK equities|||5,416||
|Foreign Equities|||6,072||
|property|||697||
||||12,714|1,393|
##
|8.
FIXEDAND CURRENT|ASSETINVESIMENTS|(continued)||Fixed Asset|Curreat Asset|
|---|---|---|---|---|---|
|||||lavestm eats|Investmeuts|
|2021||||8'000|8'000|
|Listed securities:||||||
|Market value at 31August 2020||||12,265|6,687|
|Additions||||5,567||
|Disposal at opening market value||||(4,943)|(4,173)|
|Revaluation||||2,364|(45)|
|||||15353|2,469|
|Endowment
property||||7||
|Cash at bank for re-investment||||411|7,806|
|Rare books||||774||
|Iavestment
properties
(revalued|31August 2020)|||1,834||
|Investments
in subsidiaries||||||
|Market value st 31August 2021||||$18,279|810,275|
|Historical costs oflisted securities||||$10,903|62,482|
|Listed securities are represented
by:
VKfixed interest snd index linked||||74|912|
|Foreign Fixed Interest||||856|1,557|
|UK equities||||6,078||
|Foreign Equities||||7,604||
|Property||||641||
|||||615,253||
|9.
DEBTORS —Amouats|falling due within|Group|||College|
|one year||2022
8&000|2021
8'000|2022
8&000|2021
8'000|
|Fees in arrears and extras||654|1,349|654|1,349|
|Sundry debtors||14|29|14|29|
|Prepaymeats||4,321|3,535|306|378|
|Trade debtors||27|1463|||
|Amomu
due finm related|companies|||2,103|2,572|
|||85&016|86,176|83,077|f4,328|
##
##
##
##
##
|2022||Balance|||Transfers dt|Transfers dt|Balaace|
|---|---|---|---|---|---|---|---|
|||1September|Income|Expenditure|Other||31August|
|||2021|||gains/Bosses)||2022|
|||8'000|8'000|8'000|8'000||8'000|
|College general funds||8$,8$1|40,405|(40,247)|488||$9,527|
|Malaysia general fund||1,363|14,407|(11,773)|(1,002)||2,995|
|College designated|funds (note 16)|1,853|95|(46)|(424)||1,47$|
|||892,097||(852,066)|($938)||f94,000|
|2021||Balance|||Transfers|4$|Balaace|
|||ISeptember|Income|Expeaditure|Other||31Augast|
|||2020|||gains/Passes)||2021|
|||8'000|F000|8'000|f'000||8'000|
|College general
funds||86,910|36,412|(34,827)|386||88,$81|
|Malaysia general
College designated|fund
funds (note 16)|2,008
1,545|15,252
77|(15,853)
(48)|(44)
279||1,363
1,$53|
|||$90,463|$5L741|($50,728)|$621||$92,097|
##
##
|||||
|---|---|---|---|
|TRANSFER OFFUNDS||2022|2021|
|||f 000|f'000|
|The transfers between
funds|are listed below.|||
|Unrestricted
College||||
|Revenue Fund||8391||
|Designated
College||||
|Master's Fund revenue||||
|Master's Fund capital||||
|Consolidated
Trust Funds||||
|Children ofClergy Fund||(46)|(28)|
|||(&l6)|f(28)|
|Restricted CoUege||||
|Master's Fund revenue||76|(343)|
|Other Consolidated
Funds tuvenue|||(670)|
|Capital Projects tb Bursaries||(32)|(33)|
|||f44|(61.068)|
|Endowed Funds||||
|Master's Fund capital||(227)|1,612|
|Other Consolidatel
Funds capital|||(1,901)|
|Cannon Diggle Scholarship|Fund|(18)|(11)|
|Elstob Scholarship
Fund||(32)|(26)|
|Gabriel Scholarship
Fund||(9)|(I)|
|SirGeorge AbeU Scholarship|Fund|(10)|(4)|
|Barton Scholarship Fund||(57)|1396|
|Bullock Sb Cbwcb Memorial|Scholarship|(16)|372|
|Consolidated
Trust Funds Capital|||(477)|
|||(f389)|f856|
##
##
|he Endowed|Funds investmen|ts
and move|ments
in the unapplied
|total reuua
am set out below|.||
|---|---|---|---|---|---|---|
|||||Endowment|Unapplied|Total|
||||||Total||
||||||Return||
||||||8'000|f.'000|
|As at I September 2021||||11,513|2,210|13,723|
|Movemeuts|in the reporting|period|||||
|Investment|return: dividends|and interest|||389|389|
|Investment|return: realised snd uarealised||gains/(losses)||(1,759)|(1,759)|
|Investment|management
costs||||(63)|(63)|
|Total|||||(1,433)|(1,433)|
|Extraction|ofincome hom total return||||(387)|(387)|
|Net movement
forthe reporting period|||||(1,$20)|(1,$20)|
|As at 31Augast 2022||||$11,513|$390|$11,903|
##
##
|||||Kndovrmeut|Unapplied|Total|
|---|---|---|---|---|---|---|
||||||Total||
||||||Return||
|||||8'000||g&000|
|As at3December 2020|||||864|11,965|
|Movements|in the reportiug|period|||||
|Investment|retura: dividends|and interest|||231||
|Investment|return: dividends|aud interest|reinvested|412|(242)|170|
|Investment|return: realised and unrealised||galas/(tosses)||1,647|1,647|
|Investment|management
costs||||(59)|(59)|
|||||412|1,577|1,989|
|Extraction|ofincome &om total return (income balance forthe I"year)||||(231)|(231)|
|Net movement
for the reporting period||||412|1,346|1&758|
|As at31August 2021||||611&513|62,210|613,723|
##
##
##
##
##
##
##
##
##
##
|19.|FINANCE LEASE COMMITMENTS|FINANCE LEASE COMMITMENTS||Property and Equipment
2022
2021|Property and Equipment
2022
2021|
|---|---|---|---|---|---|
||At31August 2022 the Gmup bad the following||total|f'000|f'000|
||commitments
under ncnwancefiable|finance leases:||||
||Within one year
Two to five years
More than five years|||745
6,112
3$,222|678
4,031
36,236|
|||||45,079|40,945|
||Less: future finsnce charges|||(18,854)|(18~9)|
||Present value offinance lease liabilities|||f26,225|f22,686|
||Rcpreseudng:
Within one year
Two tofive years
More than five years|||109
1,031
25,085|54
484
22,148|
|||||f26,225|f22,6&6|
|20.|OPERATING LEASECOMMITMENTS|||Property and Equipment||
|||||2022|2021|
||At 31August 2022 the Group had the following||total|f'000|f'000|
||commitments
under non-cancefiable|operating|leases:|||
||Within one year
Two to five years
More than five years|||2,319
9,275
34,272|2,115
8,459
33,289|
|||||f45,$66|643,863|
##
##
|The Master, Pmf|Sir Jolm Bell,EE|fiiott, GIHenderson,|TMartin-Jenkins,
PC|oleman and M Birkin wer|e Trustees.|
|---|---|---|---|---|---|
|Transactions
with|the Marlbomugb|CoUege Foundation|included:|2022
UOOO|2021
f'000|
|Donations|to the College|||$732|f537|
##
##
|23|ANALYSIS OFNETDEBT|ANALYSIS OFNETDEBT|At 1Sep 2021
8'000|Movements
in
Cash Flow
8'000|Elfects of
foreign exchange
8'000|At31Aug 2022
8'000|
|---|---|---|---|---|---|---|
||Cash atbank and in hand
Uninvested
cash included|in investment|15,044
8/17|5367
(6,404)|990|21,401
1,813|
||||23,36]|(1,037)||23414|
||Loan Note —amount due|tdter 1year|(25,000)|||(25,000)|
||||X(1,739)|(1,037)||8(1,786)|
##
|?4.
COMPARATIVE|ST|ATEMENT|OFFINANCIAL A|CTIVITIES||||
|---|---|---|---|---|---|---|---|
||||Uarestricted|Designated|Fuads|Endowed|Total|
||||Fends
PDDD|Malaysia
gr000|College
8'000|Funds
8'000|2021
8'000|
|Income and endmrments|from:|||||||
|Chgdlgble
activities
School fees|||34,100|14,601|(298)|(492)|47,911|
|d'||||||||
|C~Cb
Tmding Income
Other|||940
477|119
390|||1,059
867|
|Donations
ts and le acies|||675||330|571|1,576|
|Investments||||142|45|233|640|
|Total income|||36,412|15,252|77|312|52,053|
|Expenditure
on:
a'i
lbd||||||||
|Trading costs
Financing costs
Iviarkegng
and fund raising
Investment
management|||795
992
697|114
1,416
55||59|909
2,417
752
66|
||||2,484|1,585|16||4,144|
|Charitable
activities||||||||
|College operating costs:
Teachius costs
Summer School expenses
Welgtre costs
Premises costs
Support costs
Grants, awards and prizes
Depreciation
and impairmeat|||13,931
419
4,733
7,256
2,6$1
3,323|7,202
1,096
2,27D
1,872
1,82$|27|74|21,160
419
5,834
9,550
4,553
74
5,151|
||||32,343|14,268|32|98|46,741|
|Total expenditure|||34,$27|15,853|48|157|50,8$5|
|Net income/(expenditure)
investment
gains||before|1,585|(601)|29|155|1,168|
|Net (losses)/gsins
on investments|||(167)||307|2,536|2,676|
|Net income/(expenditure)|||1,418|(601)|336|2,691|3,844|
|Transfers between Smds
Revaluation ofInvestment
Properties
Exchange losses
Re-measurement
ofPension Degcit|||240
18
(33)
328|(44)|(28)|(212)|18
(77)
328|
|NET MOVEMENT IN FUNDS|||1,971
686,910|(645)
f2,008|308
$1,545|2,479
$11,285|4,113
f,101,748|
||||gggdt81|f1~|Kt,&53|$13,764|$105g61|