Wycliffe College
{Incon)orated Limited by Guarantael
Report and Financial Ststemenls
Year Ended
31 ALJgust 2020
Registered company number.. 00255632
Regislered charity number.. 311714

Wycliffe College (Incorporated)
Report and flnanclal statements
for the y&ar ended 31 August 2020
Contenls
Page:
Council of Trustees, Officers, Registered Office and Advisers
Annual Report by the Council of Trustees
14
Independent Audilorfs Report
17
Consolidated Slalemenl of Financial Activities for the Year ended 31 August 2020
Consolidated Slalemenl of Financlal Activities for the Year ended 31 August 2019
Balance Sheets
19
20
21
Consolidated Cash Flow Statement
22
Notes lo the Financial Slalemenls

Wycliffe College (Incorporated)
Coun¢ll of Trustees, Offlcers, Registered office and advisors
for the year ended 31 August 2020
REFERENCE AND ADMINISTRATIVE INFORMATION
COUNCIL OF TRUSTEES
Trustees are ultimately elected by the Members of the College to be Its Trustees and also the Dir8ctors of the
charity. Those who served during the year are..
Brigadier IReldl R J Ba¢on. MBA, Chartered FCIPD, FCMI, CMILT {1,4.51
Mrs S J Lacey, MEng, BA {Honsl {1.4}
Mr S F Lloyd Bsc IHonsl Est hAan, MRICS11.3.41
Chalr..
Vice Chairs..
Brigadier R M Clements CBE {5) lappoinled 10 March 2020)
Mr S K Collingridge BA IHonsl, LLB14.61
Mrs C Duckworth MA (Honsl {2,41
Mrs L C Duncan BSC, PGCE12.51
Mr W R Garrard MBA, Bsc {Honsl {4.51
Dr L J Hair, PhD, BA IHonsl161
Miss A L Kerr BA IHonsl151 lappoinled 24 September 2019}
Mr G T Mason MSC, LLB151 {appoinled 24 September 20191
Mr G May BA MAIOxonl {21
Mrs A L Palk MBE, BA (Honsl (61
Mr J Slaler FRICS13,61
{1) Members of the Finance Commlttee
{2) Members of the Edu¢ation Comrllitte&
{31 Members of the Eslales Committee
141 Members of the Governance Committee
151 Members of the Marketing Committee
161 Members of the Welfare Committee
Trustees are elecled by the Members, wth one third being re-elected each year.
PRESIDENT AND VICE PRESIDENTS
The Members may appolnl a President and up lo 3 VI￿ Presidents.
President..
Vice Presidents..
Mr S P Elheridge, MBE, TD, JP, MBA
Mr J C H Prilchard, Dipm
Mr J R E Wi15iams, FCA
OFFICERS
College-
The Head-.
Senior Deputy Head..
Mr N J Gregory B& M.Ed
Mr P A Woolley BA {Hons)

Wycliffe College {Incorporated)
Council of Trustees, Officers. Registered offlce and advlsors
for the year ended 31 August 2020 (Continued)
OFFICERS (continued)
Preparatory School..
The Head..
Deputy Head..
Mr A M T Palmer. MA, B.Ed {resigned 31 August 20201
Dr S J Owenson. PhD. Bsc IHonsl. PGCE {resigned 31 August 2020}
Dlrector of Finance & Operations and
Company Secretary-
Mr T P Wood BA (Honsl, FCA
Clerk to thè Trustees..
Mr T Pwood BA (Honsl, FCA
REGISTERED OFFICE
Finance Department
Wycliffe College Ilncorporaled)
Regent Street
Stonehouse
Gloucestershire
GL10 2AD
ADVISERS
Bankars
Lloyds Bank Cornmercial
Education Support Team
3rd Floor
Queen Squar6
Wolverhampton
WV1 1TF
Soli¢ltors
Harrison Clark Rickerbys
Ellenborough House
Wellington Street
Chellenham
Gloucestershire
GL50 1YD
Auditor
BDO LLP
Bridgewaler House
Counterslip
Bristol
BS1 GBX
Insurance Brokers
Marsh Brokers Limited
Education Practice. Catmlal Hous8,
1- 5 Perrymounl Road
Haywards Heath
Wesl Sussex
RH16 3SY

Wycliffe College (Incorporated)
Annual report by the council of trustees
for the year ended 31 August 2020
The Council of Trustees I'lhe Council'l of Wycliffe College Ilncorporaled) presents their Annual Report lor the year
ended 31 sl Augus12020 under the Companies Act 2006 and the Charities Act 2011, together with the audited
accounts for the year and confim Ihal, the laller comply with the requirements of the Act, the Trust Deed and the
Charities SORP 2019.
The Charity was founded in 1882 and is registered with the Charily Commission under charity number 311714. The
Council, Officers of the College and registered office of the Charity are as lisled on pages 1 and 2. Particulars of the
Charitls professional advisers are given on page 2.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Goveming Documents
The Charity is governed by ils Articles of Association adopted by Special Resolution on 9th September 2006. as
amended by Special Resolutions on 7th June 2011 and 25th Mar¢h 2014.
Governing Body
The Charity has a single Governing Body for ils two schools, Wycliffe Senior Sch(K>l and Wycliffe Preparatory
School. The governance structure comprises Members of the Charity, of unlimited numbers, and a Council of
between 8 and 15 Tru51ees with the power lo delegate lo a number of functional sub-commillees or working parties.
As of 31st August 2020, the Council ¢onsisted of 14 Trustees and there were 37 Members.
Recrultmont and Training of Trustees
The College's Govemance Manual Contains the Trustee Recruitment and Induction Policy, Rdes and
Responsibilities and Code of Conduct for a Trustee al Wycliffe. The Role of the Clerf( lo the Trustees sets out the
responsibilities of the Clerk including induction and training of new Trustees. The induction process includes
meetings with all m&mbers of the Leadership Team lo provide a clear insight into the College's operation and a lour
of the campus. Training is provided both internally and &xlernalSy by presentations al Council and sub-c(ynmittee
meetings and attendance at AGBIS and other seminars that are available throughout the year.
Organisational Management
The Council. as the Trustees of the Chartty, Is legally responsible for the overall management and control of both
Schools ol the College. Trustees met as a council five times during the year. which included a strategic business
review meeting in May 2020. The detsiled work of the Gouncil is delegated lo six sub-commillees, each of which
operate under lerms of reference, which are approved by the Govemance Committee and which are required lo
report to the full Council on a regular basis.
Finan￿ Committee
Education Commillee
Esiales Comrnillee
Goveman¢e Committee
Markeling Cornmitlee
Welfare Committee
Commillee members are listed on page 1.
In addition to the sub-committees, certain Trustees also act as Trustees for Wydiffe College Foundation and as
directors for Woodpark Limited.
The Annual General Meeting in July 2020 provided the one occasion during the year for the Members lo meet and
to receive the Financial Statements and Annual Report for the year ended 31 st August 2019.

Wycliffe College (Incorporated)
Annual report by the counc51 of trustees
for the year ended 31 August 2020 (continued)
Organisatlonal Management (continued)
The strategic direction of the College is delegated lo the Leadar5hip Team which has responsibility for the day to
day management of the College. During the year the Leadership Tearn {key management personnel) Comprised..
the Head, Mr N J Gregory
the Preparatory School Head. Mr A M T Palmer (resigned 31 August 2020}
the Director of Finance and Operations, Mr T P Wood
the Direclor of Marketing and Admissions, Miss T Gingell
the Senior Deputy Head Isenlor School), Mr P A Wodley
th& Deputy Head {Preparatory School), Dr S J Owenson (re￿gned 31 August 20201
the Deputy Head IAcademi¢l (Senior School), Mr S V Ounne
the Deputy Head (Paslorall Isenior School), Mrs K Corbin L lappoinled 1 September 20191
On 1 September 2020, Mrs H M Grant was appointed as Preparatory School Head and Mr R D Irwin was appointed
as A¢ling Depuly Head (Preparatory School).
RemuneratiC￿ is sel by the Council, wlh the objective of providlng an approprfale level of remuneration lo reward
fairly and responsibly individual contributions lo the College's success.
Group Structure and Rèlationships
The College provides independent (day and bo8rdingl education for boys and girfs be￿een the ages of 3 and 7
years IPre-Preparalory School day only), 7 and 13 years IPreparalory School) and 13 and 18 years (Senior
School).
The Cdlege has one whdly owned subsidl8ry, Woodpark Limited, registered number 2731302. which provides
letting and retail services.
Wycliffe College Foundation is a separate charity and legal enlSly parallel objects and common adminislralion.
There are up to nine Trustees of Wycliffe College Foundation, of whi¢h five are appointed ex officio ￿rith up lo a
further four being elected periodically, two by co-option and two by nomination. Wy¢liffe College Foundallon has
been consolidated into the financial slalements of Wycliffe College Ilncorporaledl Lirnited on the basis of control
through common Trustees.
Employment and Equal Opportunities Policy
The College is an equal opportunities employer. Full and fair consideration is given lo job applications from disabled
persons and due consideration is given lo their training and employment needs. Consullalion with employees, or
their representatives, has continued al all levels with the aim of taking the views of employees into account when
deci&ons are made that are likely lo affecl their inleresls. Communication Mrilh employees continues through normal
management channels in a variety of fomis and also through exceptional channels lo apprise staff as necessary of
current Issues.
Investment Pollcy and Objectivès
There are no reslriclions on the College's powers of investment other than those imposed by the donor. The KK)Iicy
continues lo be lo hold inveslrllenls lo create income pending ulilisalion.

Wycliffe College (Incorporated)
Annual report by the council of trustees
for thè yèar ended 31 August 2020 (Gontlnued)
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
Charltable Objects
The Charity's Objects. as set out in the Articles of Association of Wycliffe College Ilncorporatedl. are lo provide a
School for the education of boys and girls, the advancement of that education, together wlh physical and moral
training, provison of boarding and day accommodation for teachers and children of both sexes and, the provision
of teacher training.
The College has a Strategic Plan 2019-2024, developed around the fdlowng Purpose Statement. Vision Slalement
and Aims for Pupils-,
Purpose Statemanl
Inspire and educate every individual in mind, body and soul.
Vision Statement
Wy¢llff6 will promote a pioneerfng splrfl and encourage individuals lo flourfsh and embrace their futures as global
citizens.
Aims for Pupils
The College's aims for the public benefit are for pupils lo..
Achieve their full academic. spiHlual, physical and creative potential.
Behave with 'unassuming confidence
sho¥Mng generosity of spirit. respect for others and appre￿atIOn of
diversity.
Cultivate social and enviror4menlal awareness and an understanding of their role as global citizens.
Develop skills. self-knowledge and resilience to face positively all fulure Challenges.
Exhibit ¢realivily, innovatlon and independence in their approach lo learning and to life.
Feel happy and secure.
' This was 8 comment made by the Inspectlon 18am during the 2016 ISI visit when seeking to describe the Wycliffe
pupils they had m8t.
Publlc Benofit
Tha Trustees confirm that they have ¢(￿pIled with their duly in Secllon 17 of the Charities Act 2011 to have due
regard lo the public benefit guidance published by the Charity Commission for England and Wales.
The Council and Leadership Team encourage the staff and th8 Wydiffe Community as a thole to identify ways in
which the College can 8nhance its contribution to society. This indudes the contribution of lime, money, facilities
and resources to local, national and international projects.

Wycliffe College (Incorporated)
Annual report by the councll of trustees
for the year ended 31 August 2020 (continued)
Public Benefit (con(inued)
Some examples of the public benefit contributions the College has made in the past 12 months.,
Economic Impacl
Trustees have utilised the Oxford Economics 'E¢onomic Impact Assessment Tool 2018, to estimate the financial
impact that Wycliffe has upon the UK economy as a whole and upon the local Slroud Local Authority District-
Total contribution lo UK GDP Idirecl, supply chain and indirect staff spending)
Of which.. local impact
Total jobs supported Idirecl, supply chain and indirect staff spending)
Total UK lax payments (direct, supply chain and indirect staff spending)
Savings for the UK taxpayer as a result of attendance al Wydiffe by pupils enlilled lo a
free UK slate F￿a
Year lo 31 Aug 2020
£22.6m
£13.1m
598
£6.9m
£3.2m
Access- Scholarships and Burs&ries
The College offers merit based scholarships and means lesled bursaries, which are designed lo enable aC￿sS to
the School for talented pupils who might olhenNis8 not be able to benefit from a Wycliffe educallon.
Scholarships recognise talent in sport, music, art, drama, design and all round contribution as well as academlc
achievement. Means lesled bursaries may be awarded lo supplement scholarships or where an existing pupil's
nlinuing education is al risk due lo financial hardship. A number of bursaries are also made available on entry lo
Wydiffe for some pupils vtho do not meet the criteria for a scholarship.
The College also provides significant financial support lo families serving in the British Armtsd FOr￿s, recognislng
Ihe importance of the contribution the Armed Forces make lo society. The College has provided a commilmanl lo
these families that thoy wll only pay 10Vo of the School boarding fee after re¢eipl of the Conb'nLJity of Education
Allowan￿.
In Ihe year lo 31 August 2020, the lolal value of scholarships, bursaries and forces awards lexcluding staff discounts
and other ¢oncessionsl was £1.1m12019.. £1.55ml representing 9.3 /0 {2019". 9.20/.l of gross fee Sncome, and a lolal
of 31012018.. 2731 pupils benefited In some way from these awards.
Training & Staff
The College aims lo train and induct new teachers each year an(S continues lo have links ￿nth the Gloucestershire
Initial Teacher Education Partnership.
Staff are encouraged lo visit other lo¢al slate schools lo deliver lessons and share their experienc8 and subject
specific expertlS6.
Teachers from local schools are Invited lo join our INSET programme, whllsl school nurses also join our medical
team for some or all of their annual training.
Combined Cadet Force
The College's Combined Cadet Force provided support to the local community in a number of ways duTing the year.,
Playing an integral part in the Slonehouse annual Remembrance Service
Inviting cadets from other ¢adel factions, such as the Tewkesbury Sea Cadets lo joln leadership Irainlng
sessions
Running the National Navigation Award Scheme
Allowing Brisld and Gloucester Wing free use of the indoor shooting range

Wycliffe College (Incorporated)
Annual report by the council of trustees
for the year ended 31 August 2020 (continued)
Publi¢ Benefit (conlinu&d)
Facilities
The College made its facilities aVaila￿e lo the local community. Some letlings were made free of charge,. others are
subsidised by the College. Where the College charges for these lettings, il aims lo keep the charges lo a minimum.
Examples of the faalilies which were frequently let to I[￿al schools, cunmunily groups, clubs and teams during the
year lexcluding Ihe lockdown periixl. where reslri¢lions prevented exlemal lets and acliviliesl are.,
Astro turf pitch (hockey, foolballl
Swimming pool
Sports Hall Ibadminlon, cricket, netball, fenang, basketball, air kmsloll
Sports pitches Icrickel. rugby)
Drama theatre
Tennis courts
Exam centre for external candidates sitting public exams
Severn Slars Nova Ac8demy
The College conllnued as a Sevem Stars Nova Academy, providing training facilities and coaching free ol ¢harge.
Seven Stars are a Vitality Netball Superleague team. Their Nova academies aim lo provide elile training to talented
young nelballers from all ba¢kgroLJnds across the county. Provision continued during lockdo￿ through coach led
Zoom sessions.
Events
The College held a number of events during the year. lo which local primary schools. secondary schcK)Is and the
wider local community were invited. These indude.,
STEM Day for over 400 pupils from local primary schools
UK Maths Trust Challenge - 250 competitors from over 20 s¢hwls
A swimming gala for local primary schwls
Futures and Careers fair
stroud Literary Festival
External speakers
Volunteers
The College wishes to record ils thanks to all Old Wycliffians. the Senior and Preparatory School Parents
Associations and olher Friends of Wydiffe who have given continued and valuable support during Ihe year.
STRATEGIC REVIEW
Review of achievement and performance for the year
Pupll Alumbers
The Council aim lo maintain a balance between day and boarding pupils, and boys and girls to ensure diversity
across the College communily. An analysis of average pupil numbers is sel out below,
Senlor School
211
209
580/0
42,/
Preparatory School
225
61
Day puplls
Boarders
Boys
Gids
47°

Wycliffe College (Incorporated}
Annual report by the councll of trustees
for the year ended 31 August 2020 (conlinuedj
Review of achievement and performance for the year (continued)
Educational Performance
Following the UK govemmenl's imposS1ion of a nalionwlde lockdown in late March 2020 due to the COVID-19
pandemic, including the physical Closure of all schools, the College transitioned lo delivering a full programme of
Directed Learning. Remote provision remained in place for the remainéer of the academic year for most year
groups.
Senior School
In the Senior School, there was a rapid and successful move lo the rernole Direcled Leaming programme, which,
8s a result of robust planning, could be implemented immediately upon school closures being announced. Pupils
were successfully supported through online lessons, conducted mostly live frcxn teachers, homes lo pupils across
the globe. The introduction of a new standardised leaching philosophy alongside investment in hardware and, in
particular, training for staff, made this process more effective and ensured conlinuily of education for all pupils.
This yearfs public qualification results were reflective of the exlTaordinary times in which th8y were pr(xluced.
Examinations were cancelled and along wlh all schools and colleges, Wycliffe was required lo produce Centre
Assessment Grades for each pupil in each subject. The school worked in compliance with government policy which
resulted in falr and balan¢ed oulcixmes for pupils that reflected what each was most likely lo have achieved had
the oxamlnalions gone ahead.
Al A level, 42°/o of all grades were al A. or A and added value was On￿ again ex¢ellenl, pulb'ng Wydiffe in the lop
20/0 of all schools. 85 /0 ol applicants secured their university choices al destinations which wer¢ striking once again
for the p￿slIg]0uS nature of some as well as the range of chosen careers and courses pursued.
AI GCSE. the Senior SchcK)I was delighted with pupil outcomes in which 490kn of grades ￿re al 9-7, and 97Yo were
al a pass grade or higher.
Wydiffe prides itself on teaching gifted and talented put￿1$ from academic, performance, sport and creative
disciplines alongside Ih05e with learning disabilities and special needs. Wycliffe holds awards for excellence in
provision for Gifted &Talenled children and for ils SEN support. Wydiffe relalns reaccredilalion wth CReSTeD for
Dyslexia support and is a mernber of Potential Plus UK, which recognises excellence in leaching the Glfted and
Talented.
These results are confirmalion of the College's commitment lo provide an outstanding education for F)upils of all
abilities and we congratLJlale all pupils on their achievements.
Preparatory School
In the Preparatory School, academic stsndards a¢ross the school remain at a good level. Based on the external
slandardised data accrued in PIRA and PUMA, results show 88010 of pupils achieved at thtr nationally expected
level or higher in English, wlh 38°/0 achieving above the expected level. In Maths, 80% of pupils a¢hieved al the
nationally expected level or higher, with 38Qk achieving above the expected level.
Due to the Covid 79 P8ndemi¢, there were formal end of year Slandardised Assessments. Therefore, the
majority of data has been taken from the Spring Term, whilst for those who were absent al this tlme due lo the
onsel of the Covid-19 pandemic or olhenNise, the end of Autumn term data has been used. No slandardised data
was accrued for scien￿ during the academic year.
Sport and Extra Curricular- Pupils'Achi6v8m&nts
A detailed review of the pupils, numerous and exceptional achievements during the year a￿ recorded in The
Wycllfflan and Young Wycliffian publications annually. These outslandino publications describe the varied activities
available to our pupils across a range of sporting, musical and other extra-curricular pursuits. It demonslrales how
the College is committed lo ensuring that our pupils educational experience is far broader than academic
aliainmenl.
The publications are available lo ￿VIeW on the College website.,
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Wycliffe College (Incorporated)
Annual report by the ¢ouncll of trustees
for the year ended 31 August 2020 (continued)
Review of achievement and performance for the year (Continued)
Facilities and Resources
The Council remain o(￿￿1tt¢d to investing in ongoing improvement lo the College's facilities. Works completed
during the year include., refurbishment and improvement of certain boarding accommodation, installabon of LED
lighting a¢rossthe entire campus, refurbishment of the Prep School Astro, enlargement and resurfacing oflhe Senior
School staff car park, improvements to the resilience of the College's ICT infraslruclure.
Fundraising
Both the Senior School and Preparatory School p￿￿nIS, Associations, logelher wilh The Wycliffian Soaely, Friends
of Wycliffe and Wycliffe Choral Society. have continued to support various projects and events during the year
including provision of funding lor cultural and travel awards and funding for new equipment in various academi
departments, boarding and day houses. The College extends ils thanks to them and to all Wy¢liffians and Friends
of Wydiffe who have so generously donated to the Wycliffe College Foundation in support of bursaries and various
other funds.
Investment performance
The College ¢onlinues lo hold investments subject to donor restrictions to create income pending utilisation.
Performance during the year was satisfactory.
Energy and Carbon Reporting
The Council understands the need lo highlight its energy consumption through the year and take measures lo
irllprove the energy offiaency for a suslainabSe future. Over the year energy consumption lolalled 5.697.768 kwh.
This oquated lo the followng ratios-
Associated emissions in lonnes C02e 1,102.75
Inlenslly ratio- tonnes C02e per pupil 1.57
The College has taken then following measures lo improve energy effiaency and Include.
Replacement of all internal lighting across the College lo ultra-eflicient LED lighting.
Adoption of an electric vehicle replacing an old diesel engine vehicle.
Installation of electric vehicle charging points.
The College went lo lender during the year and changed energy suppliers to 100OA ren8wable energy which
came inlo effect shortly after year ond.
PIR Sensors installed in sports hall to ensure lighting remains off when not in use
Insulated roofing of Sibly Hall and Squath Courts
The College continues lo monitor ils consumption dosely and explores all opportunities lo redu¢e its carbon footprint.
We have followed Ihe 2019 HM Government Environmental Reportlng Guidelines. We have also used the GHG
Reporting Prolocol-corporale Standard and have used the 2020 UK Government Conversion Factors for Company
Reporting.
The chosen inlensily measLJrement ratio is loial gross emissions in metric lonnes C02e per pupil. the recommended
ratio for the saclor.

Wycliffe College (Incorporated)
Annual report by the councll of trustees
for the year endéd 31 August 2020 (continued)
Engagementwith employees
The Council lakes aclive steps lo ensure matters Con￿rning staff are disseminated by leltor, email or verbally by
managers. The College is also transitioning lo a cloud-firsl approach, a¢¢eleraled by the COVID19 pandemic which
meant communication look a web-based approach and meetings were held virtually. Ths College supplied laptops
and iPads lo em ￿0yeeS to ensure they could access communication during the lockdown period. Regular meetings
lake place wlh staff which management make employees aware of how the College is performing and discuss the
challenges il currently faces. The Council ensures that the suggestions, views and interests of employees are
captured and considered in our decision-making. The College has a strong equal opportunities policy where we
actively promote and encourage opportunities and no employee or prospective employee ￿111 receive unfair
Irealmenl.
Engagement wlth suppliers, customers and other business rolatlonships
The Council rocoonlses the need lo maintain and foster good relationships with our suppliers. the parent body and
others, monitoring closely our dialogues with all of them. Where possible the College aims lo promote local business
using Iwal suppliers and seeks lo balance tho benefits of maintaining strong partnering relationships with those koy
suppliers alongside the need lo obtain value for money and the desired quality and service levels for our pupils. The
College has a well-eslablished payment system where we pay supplisrs promptly and accurately, with supporting
do¢umenlalion where appropriate.
Cuslorllers of the school are predominantly the parent body and the Cdlege invest heavily in ensuring that parents
and fully engaged and aware of changes in the school and aim to inforrn parents in a timely manner. Communication
is senl Ihrough various mediums from letters, emails to a personalised 'parent portal. which acts as a main source
of information. Payments due are collected efficiently and with sensilivily, where appropriate and the College offers
many forms of payment options lo best suit individual needs.
The College engage positively with our pupils and their parents where we listen Carefully to our pupils and value
feedback and opinions of their parents.
Promoting the success of the school
The College is highly regarded domesli¢ally and inlemationally with decisions taking into a￿Unt the interests of,
and the impact on, the pupils, the parent body, staff, suppliers. the environment, the local community and all others
likely to be affe¢led. We strive continually not only lo maintain bul also to enhance our hard-wjn reputation for
integrity and high standards.
FINANCIAL REVIEW
Results for Ihg year
The Counal monitors the financAal perfomian¢e of the College against three key performance indicators, these being
the level of surplus, axpendilure on leaching salaries and bank borrowings. Performance is reviewed by th& Council
on a termly basis. The College also uses externally available benchmarking data from the independent schools
S8clor lo monitor and assess financial perf0mlan￿. The nel movement in funds was a deficit of £968,72012019
deficit of £99,785).
Gwen the extremely challenging circumstances presented by the COVID-19 pandemic the Council was satisfied
with the financi21 performance in the year, with the College reporting an operating surplus Ipre interest and
deprecAalionl of £25.478. Whilst signilieanlly behind the budget of £592,000, the operating result was a relatively
strong perfomiance gwen the College was physically closed lo many of ils pupils from late March all through to the
end of academic year. resulting in a significanl variation lo the gross Summer Temi fees of approximately £2m.
10

Wycliffe College (Incorporated)
Annual report by the council of trustees
for the year ended 31 August 2020 (continued)
FINANCIAL REVIEW
Results for the year {conlinued)
The financial position al the balance sheet date was also less favourable lo budget and prlor year du8 lo the net
deficit in movement offunds. The adver8e performance during the Summer Term presented pressures upon working
capital and required an increase in external bank Ix)rrowings lo £2,749,99912019 £1,000,000) al 31 August 2020.
This indudes a £1,000,000 Coronavirus Business Interruption Loan.
The College's trading subsidiary, Woodpark Limited and Wycliffe College Foundation la separate legal entity
deemed lo be under the contro1 of the College) conlribulecl tumover, profil and nel assets outlined in note 14 to the
Financial Slalements.
Reserves L&vg1 and Policy and Financial Viability
The College's unrestricted funds. including the revaluation reserve, were £26m as of 31 August 20201£27m 20191.
who11y deployed as part of the College's p￿MiseS and equlwmenl supplemented by external funding. as required. in
the form of a flexible secured loan. Day lo day working capital needs are mel by careful management of short-term
Ilquid resources and the 10 year revolvlng loan fadlity.
The Council have considered, as part of ils Risk Management, the risks and un￿rtaInlieS ol operating an
independent educational establishment and has concluded that the need to hold free reseNes is not crucial to the
day lo day operation ol the College.
The policy is therefore lo conlrd and reduce nel current liabilities out of annual operating surpluses. Exlemal
borrowing, when required. is controlled in order to meet further ¢apilal expenditure lo equip the College with the up-
to-dale facililios nooded lo maintain and further improve the standard of educational services currently provided.
Going Concem
The Council expect COVID-19 to have a material impact uwn financial position and performance for the current
financial year, due to reduced pupil numbers Iparti¢ularly international boarders), and the impact of the second full
lockdown from JanLJary 2021 to March 2021 and associated fee variation. Consequently, the Council forecast an
operating deficit for the Current fi'nanaal year bul forecast to return to surplus for the year ended 31 August 2022.
The College meets Its day-lo-day working requirements through the £7.5m Revolvlng Credit Facility, which Wds
renewed in March 2021 for a further 12 months.
The College's financial forecasts and projecliDns, considering reasonable and possiblg Changes to trading
performance, show that the College should be able to operate within the level of its current facilities.
The Council do not anlicipale any difficulty in meeting the (l)ligalions of the Charity as and when they fall due.
At the year end, Ihe College had breached the covenant regarding the requirement to generate an operating surplu5
before depreciation and interest of £475,000 per annum in relation lo ils Revolving Credit Facilily. Forecasts indicate
that the covenant will also be breached al 31 August 2021. The bank has not yel agreed lo waive the covenanl. But
they have confimied that they will not withdraw facilities until May 2022 regardless of any breach. Trustees are
confident that actions taken in the last year lo redu¢e fixed operating costs and increase pupil recruilmenl ￿ll11 have
a lurther kM)silive impact. The technical breach of the covenant indicates the presence of a material uncertainly in
relation to going concern, however Ihe Council believe il remains appropriate to prepare tho finan¢ial slalemenis on
a going concern basis.

Wycliffe College {Incorporated)
Annual report by the councll of trustees
for the year ended 31 August 2020 (conlinuedj
Prlnclpal Risks and Uncertainties
The Councll are responsible for the management of the risks faced by the College and place conslderable
importance on achieving compliance with ¢harily, education and health and safety legislalion. The College's
solicitors review the principal College policies on a regular basis and all other policies are reviewed by the College's
Leadership Team. The College employs a full lime "Risk and Ccmpliance Managerf whl¢h underlines the profile
Wydifle accords lo the operaty'onal spectrum of risk management.
The Council are ultimately accountable for all risks associated with the College and lo assist in the reduction or.
where practicable, elimination of such risk,. il devolves such responsibility lo the Head, Leadership Team, and Risk
and complian￿ Manager.
The College's Risk Register identifies any major risks lo the College, grading those risks by likelihood and severity
including measures lo mitigate Iherll. The Council regularly reviews the efl6cliveness of current plans 8nd strategies
for managing all identified major risks. Key staff are aware of the register and offer risks appertaining lo their area
of work for consideration and inclusion in this document. In the event of a major situation involving or othewise
affecting the College. business conlinuily and disaster re￿Very plans are in place. These plans are subje¢l lo regular
review.
Inlemal financial controls are checked by the Auditors and reviewed with the Flnance Committee annually. The key
controls used by the charfty Indude..
Engaging the Council in the aclivlties of the College. regular, informal vists are the norm
Formal agendas forall Council and sub-commillee meetings are distributed al least seven days before meetings.,
minutes, approved by the Chairlsl, are dlslribuled on a timely basis
Extensive financial management information is presented lo the Council well in advan¢8 of the Council meetings;
the Council are consulted on the volume, formal and conlenl of information presented for deasion taking
Clear operating guidelines are given lo the Officers of the Gollege
An organisational structure and lines of raporting
Formal writlen policies within the Coll6ge
Clear aulhorisation and approval levels. and
Velling procedures as requlred by law for the protection of the vulnerable.
The Council have declared themselves satisfied that major risks have been identified and adequately miligaled
erever reasonably practicabl¢.11 is recognised Ihal systems can only provide reasonable not absolute assurance
that rNajoT risks have been adequately managed.
Twstges responsibilities
The Trustees (who are also direclors of Wycliffe College {Incorporaledl for the purposes of company lawl are
responsible for preparing the Trustees, RepK)rt and Ihe financial slalements in accordance Mqth applicable law and
United Kingdom Accounting Standards (United lfjngdom Generally Accepted Accounting Practice).
Company law requires the Trustees lo prepare financial statements for each financial year, which give a true and
fairview of the slate of affairs of Ihe ¢haril8ble company and of the incoming ￿SoUr￿$ and application of resources,
in¢luding the income and expenditure. of the charitable company for the year. In preparing these financial
slalemenls, the Trustees are required lo..
Select suitable accounting policies and then apply them consislenlly
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and pnjdent
Slate whether applicable UK Accounting Standards have been fdlowed. subject lo any material departures
disclosed and explained in the financial statements
Prepa￿ the financial slalemen& on th8 going concem basis unless Il is inappropriate lo presume that the
charitable company will continue in operation.
12

Wycliffe College {Incorporated)
Annual report by the councll of twst88S
for the year ended 31 August 2020 {GontinuedJ
Trustees responsibilities {continued)
The Trustees aro responsible for keeping adequate accounting records that disclose wlh reasonable accuracy, al
any lime, the financial position of Ihe charitable company and enable them to ensure that the financial slalemenls
comply with the Companies A¢1 2006. The Trustees are also responsible for safegLJarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and deleclion of fraud and other
irregularities.
Relèvant Audit Information
In so far as the Trustees are aware, as members of Council, al the date ol approval of this report=
There is no relevant audit infomiation of which the charitable company's auditor is unaware.. and
The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit information and lo establish that the auditor is aware of that information.
Annual Report lincorporaling the Slralegic Report) approved by the Council of Trustees on
and sgned on ils behalf by..
Mr S F Lloyd
Vice Chair of the Council of Trustees
Date.. 22nd May 2021
13

Wycliffe College {Incorporated)
Independent auditor's report
Opinion
We have audited the financial statements of Wydiffe Colloge Ilncorporaledl Limited by Guarantee I'the Parent
Charitable Company") and its subsidiaries I'the Group I for the year ended 31 August 2020 whid) wmprise the
¢onsolidated slatemenl of financial aclivilies, the consolidated and Parent Charitable Company balance sheet, the
Consolidated cash flow slalement and notes lo the financial slatemenls, including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable law
and United Kingdom Accounling Standards, including Financial Reporting Slandard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepleil Accounting Pra¢lice}.
In our opinion. the financial statements..
give a twe and fair view of the slate of the Group's and of the Parent Charitable Company's affairs as at 31
August 2020 and of the Group's income and expenditure for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,.
and
have been prepared in accordance with the requirements of the C(mpanies Act 2006.
Basis for opinion
We conducted our audit in accordance with Inlemalional Standards on Auditing {UKI IISAS IUKI) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the Group and the Parent Charitable
Company in accordance wlh the ethical requirements relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with
these requirem8nls. We believe thal the audll evidence we have obtained is sufficient and appropriate to provide
a basis for our otinion.
Materlal uncertainty related to going concern
We draw your allenlion to note 2 to Ihe flnancial statements regarding the ability of the group and Parent Charitable
Company lo continue as a going concern. As sel oijl in note 2, the College is dependent on the revolving credit
facility and has breached the covenant requirements as al 31 August 2020. Although the bank has not formally
agreed lo waive the covenants they have confimed that they will nol withdraw the facility before May 2022.
These events or Conditions Indicate that a material uncertainty exists that may cast signifi¢anl doubl on the going
con￿rn ststus of the oroup and parent charSlable company. Our oplnion is not qualified in respect of this matter.
Other information
The other infomalion comprises the information included in the Trustees Annual Report. other than the financSal
statements and our auditor's report thereon. The TrLJslees are restx)nsible for the other information.
Our opinion on th6 financial slalemenls does not cover the other information and. except to the extent olhewse
explicitly sialed in our report, we do not express any form of assurance conclusion Ihereon.
In connection with our audit of the financial slalements, our responsibility is to read the other infomialion and. in
doing so. consider whether the other information is materially inconsistent ￿￿th the financial stalements or our
knowledge obtained in the audit or olheThwse appears lo be materially misslaled. If we identify such material
in¢onsislencies or apparent material misstalemenls, we are required to determine whether there is a material
misslalernenl in the financial slalemenls or a material misslalemenl of the other information. If, based on the work
we have performed, we conclude Ihal there is a material misstalemenl of this other information, we are required lo
report that fact.
We have nothing to rerM)rt in this regard.
14

Wycliffe College {Incorporated)
Independent audltorfs report (¢ontlnuedJ
Oplnions on other matters prescribed by the Companiès Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Report, thi¢h includes Ihe Directors. Report and the Strategic report
prepared for the purposes of Company Law, for the financial year for which the financial slalemenls are
prepared is consistent wth the financial slalemenls.. and
the Slraleoic report and the Direct￿s. Report, which are included in the Trustees. report. have been prepared
in accordance wlh applicable legal requirements.
Matters on whlch we are required to report by exception
In the light of the kno￿edge and und8rstsnding of the Group and the Parent Charitable Company and ils
environment obtained In the course of the audit, we have not identified material misslalement in the Strategic reFX)rt
or the Trustee's report.
We have nothing lo report in respect of the following mallers in relation lo which the Companies A¢1 2006 requires
us to report lo you if, in our opinion.,
adequate accounting records have not been kept by the Parent Charitable Company, or returns adequate for
cAJr audit have not been receThied fmm branches not visited by us., or
the Parent Charitable Company finandal slalemenls are not in agreement with the accounting records and
returns., or
certain disclosures of Directors, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Slalement of Trustees, Responsibilities, the Trustees (who are also the directors of
the charitable company for the purposes of company lawl are responsible for the preparation ol the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees
determines is ne¢essary to enable th& preparation of financial slalemenls that are free from material misslalemenl,
whether due to fraud or error.
In preparing the financial stalemenls, the Trustees are responsible for assessing the Group's and the Parent
Charitable Company's ability lo continue as a going concern, disclosing, as appllcable, mallers related to going
concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group
or the Parent Charitable Company or to ¢ease operations, or have no realistic alternative but to do so.
15

Wycliffe College (Incorporated)
Independent auditor's report (continuedj
Auditor's rasponsibilities for the audit of thè flnanclal statements
We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and
relevant regulations made or havin9 effect thereunder.
Our obleclives are to obtain r6asonable 8ssurance about whelh6r the financial statements as a whole are free from
material misstatement, whelhef due to fraud or error, and lo Issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance
with ISAS IUKI wll always detect a material mis51alemenl when it exists. Misslalemenls can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence
the economic decisions of users iaken on the basis of these financial slalemenls.
A further description of our re¥K)nsibililies for the audit of the financAal stalernents is located al the Financial
Reporting Council's I"FRC's"I website al.. hllps".Ilwww.frc.org.uklauditorsresponsibililies. This csescriplion forms part
of our audilorfs report.
Use ofour report
This report is made solely to the Charitable Company's members, as a body, in ac£ordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we rnight slate lo the CharSlable
Company's members those matters we are required lo slate to them in an auditor's report and for no other purpose.
To Ihefullest extent permitted by law, we do not ac￿pl or assume responsibility lo anyone other than the Charitable
Company and the Charitable Company's members as a body, for our audit work, for this report, or for the opinions
we have fomied.
DocuSlgfi•d by..
D415AED7SD45453
Heather Wheelhouse (Senior Slalulory Audilorl
for and on behalf of BDO LLP, statutory auditor
Bristol, UK
Date.. 27 Nay 2021
BDO LLP is a limited liability partnershlp registered in England and Wales Iwlh registered number OC305127).
16

Wycliffe College (Incorporated)
Consolidated statement of financial actlvities
{Including summary of income and expenditure account)
for the year ended 31 August 2020
Unrestricted
funds
2020
Restricted
funds
2020
Endowed
funds
2020
Total
2020
Total
2019
Note
Income from:
Charitable aGlivities
School fees
Ancillary trading income
13,856,524
127,186
13.856,524 15,130,981
198.253
265,458
5a
71.067
Government grants
50
503,784
503,784
Investment income
13,460
8.823
1.030
23,313
20,486
Donations and
fundraising
30,256
44.712
74,968
119,454
Income from trading
activities
Subsidiary trading
Other trading income
14
49,603
11,464
49,603
11,464
56,984
227,866
other income
SurplusllDefi¢itl on the
sale of fixed assets
36,172
36,172
(1261
Total income
14,628,449
124.602
1,030 14,754.081 15.821,103
Expendlture on:
Ralslng funds
Fundraising costs
Finanang costs
Subsidiary Irading costs
Investment
management costs
28,934
68,550
2,352
28,934
68,550
2,352
12,563
104,873
10,024
8,10
5,944
3,547
9,491
10,439
Charitable activities
Provisi(¥) of education
Granl-maknng
15,480,658
20,961
72,750
15,027
15,SS3,408 15.770,383
35,988
32,910
Total expenditure
15,607.399
91,324
15,698,723 15.941.192
Net lexpendilurel
Ilncome before gains,
loss8s & transfsrs
1978,9501
33,278
1,030
1944,6421 1120,0891
Net loss on investment
assets
14
110,1441
16.0551
17.879)
124,0781
20,304
N8t sxpendiluro
1989,0941
27,223
{6,849) 1968,7201
199,7851
Transfers between
funds
Nel movement in funds
1989,0941
27,223
{6,849) 1968,7201
199,7851
17

Wycliffe College (Incorporated)
Consolidated stat8ment of financial actlvltles
(including summary of income and expenditure account}
for the year ended 31 August 2020 {Gontinuad)
Unrestricted
funds
2020
Restricted
funds
2020
Endowed
Funds
2020
Total
2020
Total
2019
Note
Reconclliation of
funds
Total funds brought
forward
24
25.790.982
568,750
571,121
26,930,853
27,030,638
Nèt movement in
funds
{989,094)
27.223
16.8491
1968,7201
199,7851
Total funds carried
fonvard
24
24,801,888
595,973
564,272
25,962,133
26.930.853
The Slalement of Financial Activities includes all gains and losses in the year. Al inc(Nming resources and resources
expended are derived from continuing activities.
The College has taken advantage (rf section 408 of The Companies. Act 2006 not lo publish its own slalemenl of
financial aclivilies. Th$ College's nel deli¢it for the year was £935,10212019.. £119.6851.
The notes on pages 22 10 47 fomi part of these accounts.
18

Wycliffe College (Incorporated)
Consolldated statement of finan¢lal actlvltles
(including summary of income and expenditure account)
for the year ended 31 August 2019
Unrestricted
funds
2019
Restricted
funds
2019
Endowed
funds
2019
Total
2019
Income from:
Charitable activltles
School fees
Ancillary trading income
15.130,981
179.395
15,130,981
265.458
86,063
Investment income
7,335
10,651
2,500
20,486
Donations and fundral$lng
85.124
34,330
119,454
Income from trading activities
Subsidiary trading
Other trading income
Other Income
Defiat on the sale of fixed assets
56,984
227,866
56,984
227,866
1126)
11261
Total incom8
15,687.559
131,044
2,500
15,821,013
Expenditure on:
Raising funds
Fundraising costs
Finan(ang ¢osis
Subsidiary trading costs
Investment managerNenl costs
Charitable actlvitiès
Provision of educalion
Granl-making
12,563
104,873
10,024
4.319
12,563
104.873
10,024
10,439
6,120
15,660,694
27,860
109.059
5,250
630
15,770,383
32,910
Total expenditure
15,820,133
120,429
630
15,941,192
Nel expenditure before investment
gains
{132.574)
10,615
1.870
1120,0891
Nel gain on investment assets
8,399
2,929
8,976
20,304
Net {expenditureyincome
{124.175)
13,544
10,846
(99,7851
Transfers between funds
30,552
130,5521
Net movement in fun(fs
193,623)
117,IX)81
10.846
(99,7851
Total funds brought forward
25,884,605
585,758
560,275
27,030,638
Total funds ¢3rried forward
25.790.982
568.750
571.121
26.930.853
The notes on pages 22 10 47 form part of these finan(#al slalements.
19

Wycliffe College (Incorporated)
Balance sheet
at 31 August 2020
Consolidated Consolidated
2020
2019
College
2020
College
2019
Note
Flxed assets
Tangible assets
Investments
13
14
32,255,926
1,501.974
32,265,004
1,540,707
32.255,926
32,265,004
33,757,900
33,805,711
32,255,928
32,265,006
Currant a$$ets
Stocks
Debtors
Cash al bank and in hand
13,494
533,090
363,445
10,404
670,926
1.083,985
9,790
540,107
251,678
6,603
669,882
1,009,464
15
16
910,029
1,765.315
801,575
1.685,949
Creditors: amounts falling due
withln one year
{6,673,3921
(6,679,530)
16.640,9261
16,671.0371
Net current Ilabllltles
5,763.3631
14.914,2151
{5,839,3511
{4.985,0881
Total a55ets less currant
27.994,537
28,891,496
26.416.577
27,279,918
Creditors.. amount$ falling due
after moro than one year
18
{2.032,4041
11,960,643)
12,032.4041
{1,960,6431
Total nèt assets
23
25,962,133
26.930,853
24.384,173
25,319,275
Funds
Unrestricted funds
Revaluation reserve
General
24
24
3.178,240
21.623,648
3,217,110
22.573.872
3.178,240
20,976,572
3.217,110
21,914.693
24,801,88B
25,790,982
24.154,812
25.131.803
Restricted funds
24
595,973
568,750
176,677
135,818
Endowed funds
24
564,272
571,121
52,684
51,654
25,962,133
26.930,853
24,384,173
25,319,275
The financial slalemenls were approved and authorised for issue by the Council of Trustees on 22nd May 2021
and signed on th
behalf
Mr S F Lloy&
Vlce Chair of the Council of TrLJslees
Mrs S J Lacey
Vice Chair of the Counal of Trustees
The notes on pages 22 10 47 fomi part of these financlal slalements.
20

Wycliffe College {Incorporated)
Consolidated statement of cash flows
for tha year ended 31 August 2020
Note
2020
2019
Cash flows from operating a¢tlvitles
Net cash used in operating activities
25
11.123.044)
146,896)
Cash flows from investing activities
Snleresl recoived
Dividends received
Payments lo acquire investments
Receipts from disposal of investments
Payments lo acquire tangible fixed assets
Receipts from diswsal of tangible fixed assets
1,015
21,268
1475,189)
485,585
{821,887
36,172
3,709
16,777
1475,7621
514,712
1637,6101
17,179
Cash flows used in investing activitles
(753,0361
1560.9951
Cash flow from flnanclng activities
Net increaselldecrease) in advance fees s¢heme money
Net increaselldecrease) in hire purchase loan5
Nel incregselldecrease) in bank loan
1901,1521
302,434
1,749,999
1,590.552
127,3521
1625,0011
Net ¢a$h inflow from financing
1,151,281
938,199
Increase In ¢ash and cash equivalents during the year
1724.7991
330,308
Cash and cash equlvalents at the start of thè yaar
1,138.871
808,563
Total cash and cash equlvalents at th8 ond of the year
414,072
1.139,871
Cash and cash equivalents at the end of yèar comprise..
Cash al bank and in hand
Cash on deposit
16
14
363,445
50.627
1.083,985
54,886
414,072
1,138,871
The notes on page 22 to 47 form part of these financial slalernenls.
21

Wycliffe College (Incorporated)
Notes to the flnanclal statements
for the year ended 31 August 2020
Statutory infomjation
The School is a Publi¢ Benefit Enlily registered as a Charity in Enoland and Wales and a ￿MpanY limited by
guarantee. 11 was incorporated on 10 April 1931 (company number.. 2556321 and registered as a charity on
28 July 1966 Icharily number.. 3117141. Details of the registered address is given on page 2 and details of the
principal activity is given in the report of the council of Iwslees.
Accounting policies
B&sis of preparing fjnancial slalements
The functional currency of the College is considered lo be pounds sterling because that is the currency of the
primary economic environment in which the School operates and all amounts are rounded lo the nearest
pound.
Basis of consolid0t￿n
The group accounts consolidate the accounts of Wycliffe College Ilncorporatedl limited by guarantee and its
subsidiary undertakings. Wydiffe College Foundation and Woodpark Limited on a line by line basis. The
accounts are made up lo 31 August 2020. Wycliffe College Foundallon is deemed lo be a subsidiary based
on Wycliffe College Ilncorporatedl Limited By Guarantee having control over Ihe enlily.
No s&parale slalemenl of financial activities or income and expenditure has been presented for the charitable
company alone as p8milled by the Cornpanies Act 2006 and the 2015 Charities SORP. The parent
company's net expenditure for the year was £935.10212019.' £119,685).
The results of the subsidiary undortakings for the year are disclosed in note 14 of the accounts.
Slalement of Compliance
The financial slalemenls have been prepared in accordance wlh the Financial Reporting Standard applicable
In the UK and Republi¢ of Ireland IFRS 1021, the Companies Act 2006 and the Statement of Recommended
Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021- effective 1 January 2019.
Going conGern
The Financial Slalemenls have baen prepared on a going concern basis. The Group had total Net Assets of
£25,962.133 and Nel Current Liabilities of £5,763,363 al the Balance Shoel dale.
Trustees have prepared financial forecasts and projections forthe years ended 31 August 2021 and 31 August
2022, 10 include consideration of the impact of COVID-19 upon pupil numbers and fee income. Pupil numbers,
particularly from the international boarding community, have been reduced and recruitment continues to be a
challenge in these markets due to the ongoing reslriclions for international travel. In addition, fee income has
also been also adversely impacted due lo the national lockdown in January 2021, and associated fee
variallon. Whilst the projections show that the Group will incur an operating delicil for the current flnancial
year, a return lo operating surJus is forecast for the year ended 31 August 2022. Trustees have supported
the Leadership Team lo make slruclural Changes to the Group's fixed overhead base, induding a reduction
in staff, signili¢anlly reduang cosls. The Trustees have reviewed numerous scenarios lo consider the impact
of further reduced pupil numbers, in¢reased costs, or capital exp8nse requirements upon the Group's ability
to meet ils obligations as and when they fall due. They are satisfied Ihal the scenario which would require
additional liquidity is less than possible, and consequently does not impact upon their view that the going
concern basis is appropriate.
22

Wycliffe College {Incorporated)
Notes to the flnanclal statements
for the year ended 31 August 2020 (continued)
Accounting policies (continu6d)
Going con¢em (continuedj
The Group meels day-lo-day working caFxlal requirements through the 10 year £7.5m Revolving Credil
Facility. The b81ance on 31 August 2020 was £1,749,999 {wilh a further £1m on 8 Coronavirus Business
Interruption Losnl. provlding £4.750,000 of headroom.
Al the year end, the College had breached the covenant regarding the requirement lo generate an operating
surplus before depreciation and interest of £475,000 per annum in relation lo ils Revolving Credit Facility.
Fore¢asls indi¢ale that the covenant will also be breached al 31 August 2021. The bank has wnfirmed that
they do not consider there being an event ol default based upon the expected breach for 31 August 2020 and
that the Revolving Credit Facility will not b& wlhdrawn in the next 12 months. Trustees are confident that
actions laken in the last year lo reduce fixed operating cosls and incrsase pupil recruilmenl will have a further
positive impact. The technical breach of the covenant indicates the presence of a material uncertainly in
relation 10 90ing conceTn. however the Council believe it remains appropriate lo prepare the financial
statements on a going concern basis.
Income of Wycliffe College {IncorporatedJ
Fees and similar eamed Income
This represents the invoiced value of fees and other income net of bursaries and scholarships Fees received
for education to be provided in future years are carried fonmard as deferrad.
Donalions and fundraising
Donations re￿iVed for the general purposes of the College are credited to unrestricted funds. Donations
subject to specific wishes of the donors are credited to relevant restricted funds, orlo endowed funds. Donated
assets are valued at estimated open market value al the date of the gift.
Government grants
Payments received from the government for fudoughed employees a￿ a fom of grant. This grant money is
re￿IV3b1e as compensalion for expenses already incurred, and where this is not in respect of future related
costs, is re¢ognised in income in the period in which il becomes receivable and the related expenses is
incurred.
Income of Wycliffe College Foundalion
Legacies
Legacies are recognised where th8re is enlillem8nl, receipt is probable and the amount can be measured
wlh sufficient reliability.
Dividends
Dividends are included when they are receivable.
Bank Interesl
Bank interest is included on an accruals basis.
23

Wycliffe College {Incorporated)
Notes to the financial statements
for the year ended 31 August 2020 (contlnuedj
Accounting policies (¢onlinued)
Income of Woodpark Limited
Hii& of facililies
Turnover from the hire of facilities is induded when il is receivable and lo the exlenl that the service has been
completed.
S&18 ofgoods
Tumover from the sale of goods is included when the significant risks and rewards of ownership of the goods
have transferred lo the buyer, the arnounl can be estimate wlh reasonable certainty, il is probable that the
econormic benefits will flow to the company and the costs incurred or lo be incurred in respect of the transition
can be measured reliably.
Expenditure
Expenditure is accrued as soon as a liabilily is considered probable, discounted lo present value or longerterm
liabilities. Overhead and other costs not directly allribulable lo particular functional actlvlty categories are
apportioned over the relevant categories on Ihe basis of rllanagement estimal¢s of the amount attributable lo
that activity in the year. either by referen￿ lo staff lime or Spa￿ occupied. as appropriate. The irrecoverable
element of VAT is induded with the item of expenditure to whi¢h il relates.
Governance costs comprise the cost of complying with constilulional and stalulory requirements.
rangible fixed assets
The cost of tangible f￿ed assets is their purchase cost, together with any inadenlal costs of acquisition.
Freehold land and buildings include original cost and subsequent alterations and addllions.
Freehold land and buildings were previously revalued using RICS open market valuation on a freehold basis
by an independent professionally qualified valuer. This value has Sin￿ been Irealed as deemed cost and not
updated. In line with Iran&tional provisions of FRS 102.
Depreciation
Depreciation is provided lo write off the cost of all relevant tangible fixed assets less estimated residual value
based on current market prices, over th￿r useful economi¢ lives. The rates used are as follows'.-
Freehold land & buildings
Furniture and fittings
Equipment
Motor vehl¢les and boats
Computer software
2 _ 10¥0 per annum straight line
15Q/D per annum straight line
10_33.3'/o per annum slraighl line
25°/o per annum reducing balance
5 years over the life of the licence
No depreciation is charg8d on land.
A￿etS under the course of construction are not depreciated until they are brought into use.
An amount equal lo the excess of the annual depreciation charge on revalued assets over the historical cost
depreciation charge on those assets is transferred annually frc¥N the revaluation reserve lo the unreslricled
funds roseNe.
Investments
Investments are valued al current mart(el value.
24

Wycliffe College (Incorporated)
Notes lo the financial statements
for the year ended 31 August 2020 (continued)
Accounting pollcles (continued)
Stock
Stocks are stated al the lower of cost or net realisable value.
Advance fe8 scheme
Advance fees represent payments in advance in respect of edu¢alion to be provided in future lems in
accordance with a wrillen conlra¢t. The fees for each term are charged against the remaining balances arid
taken lo income.
Fund accountlng
Details and the nature and purpose of each fund are sel out in note 24.
Pension Costs
The penson costs charged in the Slalemenl of Financial Activities are delem)ined as follows..
The Tea¢hers' Pension Defined Benefits Scheme - this scheme is a mulli-employer pension scheme. It is not
Frf)ssible lo identify the College's share of the underlying assets and liabilities of the scheme on a consistent
and reasonable basis and therefo￿, as requI￿d by FRS 102, accounts for Ihe scheme as if il were a defined
contribution scheme. The Cdlege's contributions. which are in accordance with the recommendations of the
Government Actuary. are charged in the period in which the salaries lo which they relate are payable.
Auto Enrolmenl Pension Scheme- this scheme is a unil-linked defined contribution scheme from The Peoples
Pension IB & CE Lldl. The College conlribules at varied rates of pensionable salary.
For further information, see Note 32.
Operating leases
The annual rents on operating leases are charged to the revenue account on a straight line basis over the
lease tem), even if the payments are not made on such a basis. Benefits received and recewable as an
incentive lo sign an operating lease are similarly spread on a straight-line basis over the lease lerm.
Leased assets.. the College as lessee
Assets obtain$d under hire purchase contracts and finan￿ leases are Gapilalised as tangible fixed assets.
Assets acquired by finance lease are depreciated over the shorter of the lease lerrn and th&ir useful lives.
Finance leases are those Whe￿ subslanlially all of the benefits and risks of ownership are assumed by the
company. Obligations under such agreements are included in ¢redilors net of the finance charge allocated to
future periods. The finance element of the rental payment is Charged to the Statement of Financial Activities
and Retained Earnings so as lo produ¢e a constant periodic rate of charge on the net obligation oulslanding
each period.
Financlal Instruments
Financial inslruments are recognised when the College becomes party lo the Contractual provisions of the
inslrum8nt.
Finanaal assets and liabilities are offset. Mrilh the nel amounts presented in the financial slalements, when
there is a legally enforceable right lo set off the recognised amounts and there is an intention to selde on a
net ba￿S or lo realise th6 asset and settle the liability simultaneously.
25

Wycliffe College (Incorporated)
Notes to the financlal statements
for the year ended 31 August 2020 (conllnued)
Accounting policies (continued)
Basic financlal Instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially
measured al transaction price including transaction costs and are subsequently carried at amortised cost using
the effective interest melhod unless the arrangement constitutes a financing Iransaclion, where the finanaal
asset is measured al the present value of the future re￿ip1S dis¢ounled al a markel rale of interest.
Impaim)8nt of financial assots
Financial assets. other than Ihose held al fair value Ihfough the statement of financial 2clivilies are assessed
for indioalors of impairment al each reporting end date.
Finanaal assets are impaired where there is objective evidence that. as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have b6en affected.
If an asset is impaired, the impaimienl loss is the difference belween the carrying amount and the present
value of the estimate cash flows discounted al the asset's original effective interest rate. The impaimient loss
Is recognised in the slalemenl of finan¢ial activllies.
If there is a decrease In the impaim)enl loss arising from an event occurring after the impairment was
recognised, the impalrment is reversed. The reversal is such that the currenl carrying amount does not exceed
at tho carrying amounl would have been, h8d the impaimient not previously been re¢ognised. The
impairment reversal is re¢ognised in the slalemenl of financial artivilies.
Der6cognklon of financial assets
Financial assets are derecognised only when the ¢onlra¢tual rights to the cash flows from the asset extxre or
are settled. or when the College transfers the fin3nc4al asset and subslanlially all the risks and rewards of
ownership to another enlily, or if some significant iisks and rewards of ownership are rtrtained bul control of
the asset has transferred to another party th81 is able to sell the asset in ils entirely lo an unrelated third party.
Classificallon orrinarjcial li8bilitl8S
Financial liabilities are classified according to the substance of the conlractual arrangements entered into.
Bas￿ financial liabilities
Basic financial li8bililies, including trade and other payables, bank loans, and advance f&8 payments are
initially recognised al transaction price unle&8 the arrangement constitutes a financing transaction, where the
debt instrument is measured al the present value of Ihefulure payments discounted at a maikel rale of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rale method.
Derecogni1￿n of financi81 liabilit￿S
Financial liabilities are d8re¢ognised when and only when, the College's contractual obligations are
dis¢harged, cancelled, or they expire.
Interest rate swap agreements
The College uses interesl rale swap ag￿eMentS lo reduce exposure lo interest rale changes. Derivatives are
initially recognised al fair value on the date a derivative conlract is entered into and are subsequently ro-
measured at theirfairvalue. Changes in tho fairvalue of derwaliv8S 8re recognised in th8 slalemenl of financial
activities in finance costs or income as appmpriate.
The College does not currently apply hedge accounting for derivatives.
26

Wycliffe College (Incorporated)
Notes to the financial statÈments
for the year ended 31 August 2020 (contlnuéd)
Critical accounting judgements and key sources of estimation and uncertainty
In the application of the accounting policies, Trustees are required lo mak8 judgement, eslimales and
assumptions about the carrying value of assets and liabili116s that are not readily apparent from other sources.
The estimates and underlying assumptions are based on historical experience and other factors that are
considered lo be relevant. Actual results may differ frchn these estimates.
The eslimales and underl5ring assumptions are reviewed on an ongoing basis. Revisions lo accounting
eslimales are recognised in the period in which the estimate is revised if the revision affects only that period.
or in the period of revision and future periods if the revision affects current and future periods.
The followng key estimates and judgemtsnls aro adopled in the preparation of the a¢wunts.'
a) Depreciation of tangible fixed assets
the Trustees exer¢ise their judgement in assesslng the useful
economic life of an asset and expected residual values where appropriate. The depreciation rates applied
are set out above.
bl Bad debt provision- the Trustees adopt a prudent and consistent basis of recognising th8 provision ￿lch
takes into account debt collection rates throughout the year.
In Ihe view of the Trustees, these are likely to result in a material adjuslmenl lo their carrying amounts in the
next financial year.
School fees raceivable
2020
2019
Fees receivablo ¢onsisl of..
Gross fees
Less-. Total scholarships and bursaries
15.423,283
{1,566.7591
17,014,546
{1,883.5651
13.856,524
15,130.981
School fees receivaUe of £13,856,52412019- £15.130,981) related to unrestricted funds.
Other income
2020
2019
al Ancillary income
Other an¢illary income
Registration and entrance fees
Commissions and olh8r In￿Me
School Coffee shop
The Wycliff1an Soc4ely
45,723
21,389
15,817
44.257
71.067
70.880
25.808
26,236
56,471
86,063
198,253
265.458
Income from the Wycliffian Society of £71.06712019- £86,063) relaled lo restricted funds. All other ancillary
ncome was unrestricted.
bl Other trading Incoma
Letting of schcol faalilies
11,464
227,866
Other trading income was unreslrlcted in the ¢urrenl and prior year.
27

Wycliffe College (Incorporated)
Notes to th& financial stat8ments
for the year ended 31 August 2020 (continued)
Other income (continued)
cl Government grants
Government furlough scheme
503,784
Govemmenl grants were unrestricted in the currenl year.
Investment income
Unrostricted
funds
2020
Restricted
funds
2020
Endowed
funds
2020
Total
2020
Bank and other interest
Divldends
142
13,318
873
7,950
1,030
2,045
21.268
13,460
8.823
1,030
23,313
Unrestricted
funds
2019
Restricted
funds
2019
Endowed
funds
2019
Total
2019
Bank and other interest
Dividends
395
6,940
814
9,837
2,500
3,709
16.777
7,335
10.651
2,500
20,486
N9t Incoming resources for the year
2020
2019
Net income for the year is slated after.
Charitable expenditure indudes..
Depreciation
Profillllossl on disposal of fixed assets
Auditors remuneration..
- for audit services
for non-audil servic6S
946,022
36.712
937,394
11261
24,396
10,680
23,000
18,600
28

Wycliffe College (Incorporated)
Notes to the financial statements
for the year ended 31 August 2020 (continued)
Expendlture on raising funds
Staff
Other
Depreciation
2020
Fundralsing costs
Financing costs {see note 101
Fundraising trading costs
Investment management costs
25.000
3,934
68,550
2,352
9,491
28,934
68.550
2,352
9,491
25,000
84,327
109.327
Total expenditure on raising funds was £109,32712019 £137,899) of which £3,54712019 £6,120) was
restri¢led and £105,78012019 - £131.7791 was unrestricted funds.
staff
Oth•r
Dapreciation
2019
Fundraising costs
Financing costs {see note 101
Fundraising trading costs
Investment management costs
10,500
2,063
104,873
10,024
10,439
12,563
104,873
10.024
10.439
10,500
127,399
137.899
29

Wycliffe College {Incorporated)
Notes to the flnancial statements
for the year ended 31 August 2020 (continued)
Expenditure on charitable activities
Staff
Other
Depreciation
2020
Provision of education
Teaching
Welfare
Premises
Lelling ¢osls
Support costs and governance
Grants, awards and prize5
7.800.361
779,657
371,732
825.781
1,109,677
1,458,571
5.821
1.207,133
3,570
8.626,142
1,889,334
2,776,325
5,821
2,252.216
3,570
946.022
1,045,083
9,996.833
4,610,553
946.022
15,553.408
Grant-making
35.988
35.988
Total charitable 6xpendlture
9,996,833
4,646.541
946,022
15.589,396
Total charitable exptsndilure was £15,589,39612019 - £15,803,293) of which £87,77712019 - £114,309)
was reslricled, £Nil12019- £6301 was endowment and £15,501,61912019 - £15,688.3541 was unreslri¢led
funds.
Staff
Other
Depreciation
2019
Provislon of education
Teaching
Welfare
Premises
Lelting costs
Support cost5 and governance
Grants. awards and pri2es
7.524,729
788,380
344,776
1.066,112
1.351,542
1.544,095
95,014
1,116,620
8,127
8,590,841
2,139,922
2,826,265
95,014
2,110,214
8,127
937.394
993,594
9,651,479
5.181,510
937.394
15,770.383
Grant-making
32,910
32,910
Totsl charitable expendlture
9,651,479
5,214.420
937,394
15,803,293

Wycliffe College {Incorporated)
Notes to the financial statements
for the year ended 31 August 2020 (continued)
Expenditure on charitable activities (contiftU8d)
Governance costs included in support costs..
2020
2019
Auditors remunerallon:
for audit services
for non-audit seNices
Reimbursement of expenses lo Iruslees
24,396
10,680
561
23.000
18.600
1.720
35,637
43.320
Travel, accommodation, training and subsistence expenses of £561 (2019.. £1.7201 were reimbursed lo three
(six in 20191 Members of the Council.
10 Flnanclng costs
2020
2019
Bank108n
Fees scheme
Other inlerèsl
Finance lease
Bad debts and bad debts provision
30.018
27,052
1,030
8,892
1.558
39.332
53,383
1,500
5.156
5.502
68.550
104,873
Finan¢e costs were unrestricted in the current and prior year.
11 Staff costs
Group
2020
Group
2019
The aggregate payroll costs for the year We￿ as follows..
Wages and salaries
Social security costs
Superannuation and olhar pension costs
8,043,496
691,393
1,286.944
8.080,317
673.369
908,293
10,021,833
9,661,979
No member of Council received any remuneration or other benefits fmm the College during the year.
31

Wycliffe College (Incorporated)
Notes lo the financial statements
for the year endèd 31 August 2020 (continuedj
11
Staff costs (conlinuedj
The aggregale 6mployee benefits of key managanent personnel were £911,754 {2019.. £834,355}. The
average number of employees during the year was as follows..
Group
2020
Group
2019
Teaching staff
Others
214
136
224
138
350
362
The number of employees whose emoluments exceed £60,000 were..
2020
Number
2019
Numbèr
£60,001- £70,000
£70,001 - £80,000
£80.001 - £90,000
£90,001 - £100,000
£100,001- £110,000
£150,001- £160,000
Contributions were made lo tha Teachers, Pension Schame. which is a defined benefits scheme for 5 of the
above employees12019'. 61. There were contributions of £12,380 12019.. £11.6001 lo a money purchase
scheme for the atx)ve employees.
12 Taxatlon
The charity is exempl from lax on income and gains falling wlhin section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that thase are applied to ils charitable objects.
32

ty7J th(
Z5TS

7J
r(0
Z57J
(O oo I

Wycliffe College {Incorporated)
Notes to the financial statèments
for the year ended 31 August 2020 (¢ontlnuedJ
14 Investments
2020
2019
Investments - Group
Market value al 1 September 2020
Additions
Disposals
Realised gains
Revaluations
1.485,821
475,189
{485,5851
10,492
134.5701
1.504,467
475,762
{519,615)
25,207
Market value a131 August 2020
Cash on deposit
1,451,347
50.627
1,485.821
54,886
Al 31 August 2020
1.501,974
1.540,707
The historical cost of non-cash investments al 31 Augusl 2020 was £1,244,448 (2019.. £1,105,876).
Illvestmènts - College
2020
2019
Investments in subsdiaries
Subsidiary undertakings
Woodpark Limited
The wholly owned Iradlng subsidiary Woodpark Limited is incorporated in England & Wales {c(mpany
number.. 027313021 and pays all of its taxable profits to the Charity under the gift aid scheme.
Woodpark Limited operates all commercial trading operations carried on al the Wycliffe college premlses. A
summary of the trading results and finanaal performance of the subsidiary alon6 is".
2020
2019
Turnover
Cost of sales
49.605
12.5391
58,143
110,0231
Gross profit
Adminislralive expenses
47,066
{5,1261
48.120
{9,4411
Operating profil
Inlaresl payable and expenses
41.940
38,679
Profil for the year
Donation made lo College
41,940
141,9391
38,678
139,5401
Retained profil for the year
{8621
35

Wycliffe College {Incorporated)
Notes to the financial statements
for the year ended 31 August 2020 (continued)
14 Investments (continued)
Wycliffe College Foundatlon
The Company has the right lo appoint trustees ofwycliffe College Fcxjndalion and as a result ofthis is deemed
lo have control of the ¢harily. The charity is registered in England & Wales {charity number..
10782861.
A summary of the trading results and financial performance of the subsidiary alone is..
2020
2019
Income
Expendilure
35,938
145.4791
44,188
143,3491
Nel lexpenditureyin¢ome before investment gains
Nel Ilossesygains on investment assets
19,5411
124,0791
839
20,305
Net {eX￿nd11￿reYinCOrno for the year
{33.6201
21,144
15 Debtors
Group
2020
Group
2019
College
2020
College
2019
School fees
Other debtors
Prepayments
175,681
150,273
207,138
354,634
85,353
230,939
175,681
157,288
207,138
354,634
84,310
230,938
S33,090
670,926
540,107
669,882
16 Cash at bank and In hand
Group
2020
Group
2019
College
2020
Collège
2019
Cash at bank
363.445
1,083.985
251,678
1,009,464
36

Wycliffe College (Incorporated)
Notes to the financial statements
for Ihe year ended 31 August 2020 (continued)
17 Creditors.. amounts falling due within one year
Group
2020
Group
2019
College
2020
College
2019
Bank loan
Trade credSlors
Social se¢urily and other taxes
Amount due lo subsidiary ccmpany
Other creditors
Outstanding pension contributions
Fees deposits
Accruals
Hire purchase
A(fvance fees scheme
Fees received in advance
1.749,999
236,303
186.691
1.749,999
236,304
186,625
665,262
195,227
678,244
194,644
259
93,896
13,a24
1,627,635
231,967
37,758
1.627,190
2,166,420
102,185
14,049
1.411,170
473,889
92,391
902,078
1.504.636
93,896
13,024
1.628,008
252,745
37,758
1,627,190
2,166,420
78,185
14,049
1,411,170
465,489
92,391
902,078
1,504,636
6.673.392
6,679,530
6.640.926
6,671,037
18 Credltors.. amounts falling due after more than one year
Group
2020
Group
2019
College
2020
College
2019
Bank loan (see note 201
Advance fees scheme (see note 191
Hire purchase Isee note 211
1,000,000
651,713
380,691
1,000,000
827,753
132,890
1,000,000
651,713
380,691
1,000.000
827,753
132,890
2.032.404
1.960.643
2,032,404
1,960,643
19 Advance fees scheme
Parents may enter into a contract to pay the school up lo the equivalent of five years, luilion fees in advan¢e.
The money may be returned subject lo specific conditions on demand. Assuming pupils wll remain in the
school, advance fees wll be applied as follows..
Group
2020
Group
2019
College
2020
College
2019
Within 2 to 5 years
Within I to 2 years
347,849
303,864
394,424
433,329
347.849
303,864
394,424
433.329
651,713
902,078
827.753
1,627,19J
651.713
902,078
827,753
1,627,190
Within 1 year
1,553.791
2,454,943
1.553.791
2,454,943
37

Wycliffe College (Incorporated)
Notes to the financial statements
for Ihe year ended 31 August 2020 (continued)
19 Advance fees scheme (continued)
The balance represents the accrued liability under the conlracls. The movements during the year ware:
Group
2020
Group
2019
Colleg6
2020
College
2019
Balance al 1 September 2019
New contracis
Amounts accrued lo contracts as
debl-financing costs
2,454,944
837,630
2,038,167
1,590,552
2,454,944
837,630
2.038,167
1.590,552
55.667
39,063
55,667
39,063
3.348,241
{1.794,4501
3,667,782
{1,212.8381
3,348,241
{1,794,4501
3.667,782
11,212,838)
Amounts ulS1ised in payment of fees
Balance at 31 August 2020
1,553.791
2,454.944
1.553,791
2.454,944
20 Bank loan
Group
2020
Group
2019
College
2020
College
2019
Due in one year
Due between 2 and 5 years
Due in more than 5 years
1,749,999
1.000,000
1,749.999
1,000.000
1,000,000
1,000,000
rhe College has agreed loan faalits'es as follows..
A revolvlng loan facility of £7.5 milllon for a period of 10 years al an interest rale of 1.690A over base rale and
repayable in full by 20 March 2027. The loan is secured by vrdy of a legal charge over various College
properties.
The College entered into an interest rate swap agreement during the year ended 31 August 2017 to mitigate
the interest rale risk of the above loan. As part of-this agreement, The College is committed lo pay a fLxed
Interest rale of 1.12Q/• and receive an amount of interest equal lo the UK Base Rate, on a notional amount (rf
£1,000,000. The lemiinalion dale of the swap Is 31 March 2022.
The inleresl rale swap agreement is measured al fair value, which is determined using valu8tion techniques
based upon movernenls in interest rates. The fair value of the interest rale swap agreement as at 31 August
2020 Is deemed immaterial.

Wycliffe College (Incorporated)
Notes to the financlal statements
for the yèar ènded 31 August 2020 (contlnu8dJ
21 Hire purchase
Group
2020
Group
2019
College
2020
College
2019
More than 5 years
Wilhin 2 to 5 years
Within 1 to 2 years
181,227
101.227
97,898
181.227
101.566
97,898
93.658
39.232
93,658
39,232
380,691
132,890
380,691
132,890
Within 1 year
92,391
37.758
92,391
37,758
473.082
170.648
473.082
170.648
22 Flnanclal Instruments
Group
2020
Group
2019
Finanaal assets measured at fair value
1,451,347
1,485.821
Induded within financial instruments held al fair value is investments.
23 Analysis of net assets between funds
2020 Group
Unreslrlcted funds
Ravaluation
reserve
Rèstricted
funds
Endowed
funds
General
Totsl
Tangible fixed assets
Investments
Nel currenl liabilities
Long lemi liabilities
3.178.240
29.077,686
571,090
(5,992,724)
(2,032,404)
32,255,926
511,588
1,501,974
52,684 {5,763,3631
{2,032,4041
419.296
176,677
3,178,240
21,623,648
595.973
564,272 25,962.133
2020 College
Unrestricted funds
Revaluation
rèsèrvè
Restricted
funds
Endowed
funds
Genèral
Total
Tang1ble fixed assets
Investments
Nel current liabllilies
Long term liabilities
3,178,240
29,077,686
32,255,926
17,059,253)
11,032,404)
176,677
52,684 16,829,892)
11,032.4041
3,178,240
20,986,031
176,677
52,684 24,393,632
39

Wycliffe College (Incorporated)
Notes to th8 flnanclal statements
for the year ended 31 August 2020 (¢ontlnuedJ
23 Analysis of net assèts between funds (conlinuedj
2019 Group
Unrestricted funds
Revaluation
reseNe
Restricted
funds
Endowed
funds
General
Total
Tangible fixed assets
Investments
Nel Current liabilities
Long term liabilities
3.217,110
29,047,894
617.222
15,130,601)
11,960,643)
32,265,004
519,467
1,540,707
51,654 14,914,215)
11,960,643)
404,018
164,732
3,217,110
22,573,872
568.750
571.121 26,930.853
2019 Colleg8
Unrestrlcted funds
Revaluatlon
rèserve
R8strl¢ted
funds
Endowed
funds
General
Total
Tangible fixed assets
Investments
Net current liabilities
Long lerrn Iiabililies
3.217,110
29,047,894
32,265,004
15.172,5801
11,960,643)
135,818
51,654 14,985,088)
11,960,643)
3.217,110
21,914.693
135,818
51,654 25,319,275
40

Wycliffe College (Incorporated)
Not8S to the flnanclal statements
for the year ended 31 August 2020 (contlnuedj
24 Funds analysis- Group current year
At1
September
2019
Galnslllossesl
At31
and transfers August 2020
Income
Expenditure
Unrestricted funds
Revalualion reserve
General funds
3,217,110
22,573,872
138,8701
28,726
3,178,240
21,623,648
14,628.449
{15,607,3991
25,790.982
14.628,449
115,607,399)
110,1441
24,801,888
Rèstricted funds
The Wycliffian
Society
Expendable grants
General Endowment
Loosley Endowment
Pearson Bursary
Ward's Scholarship
J H Edwards 8equesl
Sibly Scholarship
Wilson S¢holarship
Selwyn Bursary
Bursaries Fund
Burnet Ward Bursary
Educational Grants
Honours Boards
Prep School Sports
Pavilion
Miscellaneous Funds
Hardship fund
133,737
71,608
161,2931
144,052
12,190
3,632
43,648
4.159
57.185
17,574
19,532
12,472
74.127
93.417
68,717
1,106
881
23,568
31,892
72
869
83
1,139
350
389
248
1,476
1,860
1.528
22
118
332
111,4571
1301
13881
11,2341
12,0081
11561
11741
32,625
3,619
43.467
2.945
55.449
17,501
19,451
12.420
72.490
93,030
68,592
1,101
978
23.900
155)
{6621
1631
18671
12671
12961
11891
11.1241
11,4171
11.0421
1171
1131
{1,9891
{8301
{6111
1101
181
2,805
56
12.560
1251
111,000)
1431
2,793
1,560
568,750
124,602
191,3241
16,0551
595.973
Endowment funds
Bequests and Prize
Funds
General Endowment
Loosley Endowment
Pearson Bursary
Ward's Scholarship
J H Edwards Bequ8sI
Sibly Scholarship
Wilson Scholarship
51,654
1,030
52,684
48,81
202,390
82,614
74,012
39,124
50,003
22,518
17401
13,0701
11,2531
11,1231
15931
17581
13421
48,066
199,320
81,361
72,889
38,531
49,245
22,176
571,121
1.030
17,8791
564.272
Total funds
26,930,853
14,754,081
115.698,7231
{24.0781
25,962.133
41

Wycliffe College (Incorporated)
Notes to th6 flnanclal statements
for the year ended 31 August 2020 (contlnued)
24 Funds analysls - College current year
At
1 September
2019
At
31 August
2020
Gainslllosse51
and transfers
Income
Expenditure
UnrÈ$tricted funds
Revaluation reserve
General lunds
3,217,110
21,914,693
{38.8701
38.870
3,178,240
20,976.572
14.564,008
115,540,999)
25,131.803
14,564,008
{15.540.9991
24,154,812
Restricted funds
The Wycliffian
Socialy
Expendable grants
Other funds
133.737
71,608
161.2931
144,052
12,190
110,109)
31.892
111,4571
32,625
10,109
135,818
113,609
172.7501
176,677
Endowment funds
Bequests and Prize
Funds
51,654
1.030
52.684
51,654
1.030
52,684
Total funds
25,319,275
14,678,647
(15.613,7491
24,384,173
Unreslrl¢ted funds in conjunction with the College's bank borrowing facility, are retained to provide worklng
C8pilal.
Reslricled Funds consist of The Wycliffian Soaely, various Expendable grants received during the year and
nel in¢oJning resources from Endowed Funds and Appeal Funds.
Endowed Funds consist of individual bequests and prize funds, scholarship funds and bursary funds sel up
by individual donors.
42

Wycliffe College {Incorporated)
Notes to the flnanclal statements
for the year ended 31 August 2020 (conlinuedj
24 Funds analysls - Group prlor year
At
1 September
2018
At
31 August
2019
Gainsl(lossesl
and transfers
Income
Expendlture
Unrestricted funds
Revaluation reserve
General funds
3,255,980
22.628,625
{38.8701
77,821
3,217.110
22,573,872
15,687.559
{15,820,133)
25,884,605
15.687,559
{15,820.1331
38,951
25,790,982
Restricted funds
The Wycliffian
Soci8ly
Expendable grants
General Endowment
Loosley Endowment
Pearson Bursary
Ward's Scholarship
J H Edwards Bequest
Sibly Scholarship
Wilson Scholarship
Selwyn Bursary
Bursaries Fund
Burnet Ward Bursary
Educational Grants
Honours Boards
Prep School Sports
Pavilion
Miscellaneous Funds
Hardship fund
156,686
76,440
(89,4981
{20,0001
123,628
10,061
3,714
42.631
5.144
58.139
17,937
19,245
12.327
74.320
90.400
67,500
525
881
23,443
32,242
574
12,787
960
1,443
624
757
381
823
2.460
846
581
(19,5611
16561
11.6611
11.9451
12.3971
19871
14701
12361
12.0121
16031
14021
{10,5521
12,190
3,632
53,757
4,159
57,185
17,574
19,532
12,472
74,127
93,417
68,717
1,106
881
23,568
996
1.160
773
125
2,805
2,805
585,758
131,044
1120.4291
127,6231
568,750
Endowment funds
Bequests and Prize
Funds
General Endowmgnl
Loosley EndowThenl
Pearson Bursary
Ward's Scholarship
J H Edwards Bequest
Sibly Scholarship
Wilson Scholarship
49.784
2.500
16301
51,654
48,111
199,149
81,453
72,264
38,369
49,088
22,057
695
3.241
1,161
1.748
755
915
461
48,806
202,390
82,614
74,012
39,124
50,003
22,518
560.275
2,500
16301
8,976
571,121
Total funds
27,030,638
15,821,103
115,941,192)
20,304
26,930,853
43

Wycliffe College (Incorporated)
Notes to the financlal statements
for the year ended 31 August 2020 (continued)
24 Funds analysis- College prior yèar
At
1 September
2018
At
31 August
2019
Gainslllossesl
and transfèrs
Income
Expendlture
UnrestrScted funds
Revaluation reserve
General funds
3.255.980
21.966,828
{38.8701
69,422
3,217.110
21.914,693
15.597.481
115,719,038)
25,222.808
15,597,481
115.719,0381
30,552
25,131,803
Restricted funds
The Wy¢liffian
Society
Expendable grdnts
156,686
76,440
189.498)
120,0001
123.628
10.061
32,242
{19,5611
{10.5521
12,190
166,747
108.682
1109,0591
135,818
Endowment funds
Bequests and Prize
Funds
49,784
2,500
16301
51,654
49,784
2.500
{6301
51,654
Total funds
25,439.339
15,708.663
115,828,727)
25,319,275
44

Wycliffe College (Incorporated)
Notes to the flnanclal statements
for the year endéd 31 August 2020 (continued)
25 Reconciliation of net gxpenditure to net cash inflow from operallng activities
Group
2020
Group
2019
Nel expenditure for the reporting period (as per the Slalemenl of
Financial Activities}
Deprecation charge
Gains on disposal of tangible asseis
Realised Igainslllosses on disposal of investments
Unrealised lossesl{gainsl on investments
Interest received
Dividends re￿iVed
Increase in stocks
Ilncr8asellde¢rease in debtors and prepaymenis
Increas81{decreasel in creditors
{968,7201
946,022
136,1721
110,4921
34.570
{1.0151
121,2681
{3,0911
137,835
11,200,713)
{99,7851
937,394
126
4,903
125,2071
13,7091
116,7771
11,060)
87,374
1930,155)
Nel cash used in operating activi￿e$
11.123,044)
146,896)
26 Analysis of nèt dabt
At
1 September
2019
At
31 August
2020
Nonwcash
flows
Cash flows
Cash in hand
Deposit
1,083,985
54,886
1720,5401
14,2591
363,445
50,627
1,138.871
1724,7991
414,072
Creditors due in one year:
HP liabilities
Bank loan
Advance fee scheme
Creditors due in more than ona
year:
{37,7581
(302.4341
247,801
192.3911
{1.627.1901
901.152
{176,0401
1902.0781
{132.8901
11.000.000)
{827.7531
(247.8011
1380,6911
12,749.9991
1651,7131
Bank loan
Advance fee scheme
11.749,999}
176,040
Nat debt
12,486,721)
11,876.0811
14,362,801>
27 Company status
The Company is limited by guarantee. the amount of each member's guarantee being £1. The number of
members al 31 August 2020 was 3712019.. 381.
45

Wycliffe College (Incorporated)
Notes to the flnanclal statements
for the year endad 31 August 2020 (contlnuedj
28 Other financial commitments
Commitments in ￿Spect of nOn-Can￿lIable operating leases are as follows..
Group
2020
Group
2019
College
2020
College
2019
Not later than one year
Later than one year and not than five
years
Later Ihan 5 years
21,494
36.398
21.494
36.398
2,911
23,763
2.911
23,763
24,405
60,161
24,405
0.161
Lease payments recoJnised as an expense were £31,965 (2019.. £36.1581.
29 Rèlated party transactions
As al the balance sheel dale, the College was owed £11.74212019.. £259 owed tol by Woodpark Limited.
During the year the College received £41,93912019'. £39,540) from Woodpark Limited under the gift aid
scheme and r¢¢harged administration overheads of £Nil (2019.. £2.5001.
As al the balance sheet dale, the College was owed £5.232 {2019.' £Nill by Wycliffe College Foundation, a
charity urTrder common control.
No Iruslees have been reimbursed in 2020 for any expenses incurred as a committee member of The
Wycliffian Sociely.
Trustees and members of key management have ¢hildren allending the schools operated by the Charity.
School f8es incurred by Trustees are paid on a commercial ami's length basis as available lo the general
public. Key management can benefit from a staff concession that can be available lo all eligible members of
staff who have ¢hildren allending the schools operated by the charity.
30 Pension costs
Teaching staff
The School participates in the Tea¢hers' Pension Scheme C'lhe TPS'I for its leaching staff. The pension
charye-for the yearincludes contributions payable lo the TPS of £1,204,16512019'. £838,2681 and al the year-
end £Nil 12019.. £Nill was accrued in respect of collliibulions to this scheme. The Teachers, Pension Scheme
ITPSI is a statutory, conliibulory. defined benefit scheme, governed by the Teachers, Pension Scheme
Regulations 2014. Membership is automab'c for teachers. All teachers have the option lo opt-oul of the TPS
fdlowing enrolmenl.
The TPS is an unfunded scheme lo ￿lch both the member and employer makes conlribulions, as a
percentage of salary - these contributions are credited lo the Exchequer. Retirement and other pension
benefits are paid by publlc funds provided by Parliament. Valuation of the Teachers, Pension Scheme The
Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in
8¢cordance with the Public SeNice Pensions (Valuations and Employer Cost Cap) Directions 2014 published
by HM Treasury every 4 years. The aim of the review is lo specify the level of future contributions. Actuarial
scheme valuations are dependent on assumptions about the value of future costs, design of benefits and
rnany other factors. The lalesl actuarial valuation of the TPS was carried out as al 31 March 2016. The
valuation report was published by the Oepartmenl for Education on 5 March 2019.
46

Wycliffe College (Incorporated)
Notes lo the financial statements
for the year ended 31 August 2020 {Gontinued)
30 Pènslon costs (¢ontinu&d)
The key elements of the valuation and subsequent consullalion are..
Employer contribution rates sel at 23.68% of pensionable pay (including a 0.080A administration levyl-
Total scheme liabilities (pensions currenlly in payment and the eslimaled cost of future benefits) for
service lo Ihe effective dal& of £218.100 million and notional assets {eslim8ted future conlribulions
together Vtyilh the notional investments held al the valuation dale) of £196,100 million, giving a notional
past service defial of £22,000 million., and
The SCAPE rate. sel by HMT. is used lo delemine tha notional investment ￿turn. The current
SCAPE rale is 2.40/0 above the rale of CPI. Assumed real rate of return is 2.4°/0 in excess of prices
and 20/0 in excess of earnings. The rale of real eamings growth is assumed lo be 2.20/0. The assumed
nominal rale of return induding eamings growth is 4.450/0, The next valuation result is due to be
implemented from 1 April 2023.
A copy of the valualion report and supporting documentation Is on the Teachers, Pensions website. Under
the definitions set out in FRS 102, the TPS is an unfunded multi-ernployer pension scheme. The school has
accounted for ils contributions lo the scheme as if il were a defined contribution scheme. The school has set
out above the infomialion available on the scheme.
47