2022-07-31-accounts - Cheltenham Ladies College

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				`CHELTENHAMLADIES’`	`CHELTENHAMLADIES’`	`CHELTENHAMLADIES’`	`COLLEGE`
				`Annual`	`ReportandFinancia!`		`Statements`
						`Yearended31July2022`
`CONSOLIDATEDSTATEMENTOF`			`FINANCIALACTIVITIES`				`FOR`
`THEYEARENDED31JULY2022`
	`Notes`	`Unrestricted`	`Restricted`	`Endowed`		`Total`	`Total`
		`Funds`	`Funds`	`Funds`		`2022`	`2021`
		`£7000`	`£7000`	`£000`		`£°000`	`£'000`
`IncomeandEndowments`
`from:`
`Charitableactivities`
`Feeincome`	`2`	`31,498`	`-`	`-`		`31,498`	`27,310`
`Ancillarytradingincome`		`1,749`	`-`	`-`		`1,749`	`1,087`
`Otherincome`	`3`	`102`	`-`	`-`		`102`	`1,198`
`Voluntarysources`
`Donationsandlegacies`	`4`	`98`	`235`	`1,400`		`1,733`	`981`
`Othertradingactivities`
`Non-ancillarytradingincome`	`5`	`1,716`	`-`	`-`		`1,716`	`610`
`Investments`
`Investmentincomeandinterest`	`6`	`34`	`21`	`298`		`353`	`273`
`Totalincomeandendowments`		`35,197`	`256`	`1,698`		`37,151`	`31,459`
`Expenditureon:`
`Raisingfunds`
`Fundraising`		`355`	`-`	`-`		`355`	`339`
`Non-ancillarytrading`	`5`	`987`	`-`	`-`		`987`	`877`
`Financingcosts`	`8`	`107`	`-`	`-`		`107`	`103`
`Investmentmanagementcosts`		`10`	`1`	`10`		`21`	`10`
		`1,459`	`1`	`10`		`1,470`	`1,329`
`Charitableactivities`		`31,013`	`430`	`-`		`31,443`	`30,239`
`Totalexpenditure`	`7`	`32,472`	`431`	`10`		`32,913`	`31,568`
`Netincoming/ (outgoing)funds`
`fromoperationsbefore`
`investmentgainsandlosses`		`2,725`	`(175)`	`1,688`		`4,238`	`(109)`
`Net(losses)/ gainson`		`-`	`(30)`	`(299)`		`(329)`	`945`
`investments`
`Netincome/ (outgoing)`		`2,725`	`(205)`	`1,389`		`3,909`	`836`
`Transfersbetweenfunds`		`(78)`	`(2)`	`80`		`-`	`-`
`Totalreturntransfersbetween`		`-`	`191`	`(191)`		`-`	`-`
`funds`
`Actuarialgainsondefinedbenefit`	`23`	`10`	`-`		`-`	`10`	`38`
`pensionschemes`
`Netmovementinfunds`		`2,657`	`(16)`	`1,278`		`3,919`	`874`
`Reconciliationoffunds:`
`Totalfundsbroughtforward`		`53,208`	`2,110`	`7,774`		`63,092`	`62,218`
`Totalfundscarriedforward`	`20`	`55,865`	`2,094`	`9,052`		`67,011`	`63,092`
`Thenotesonpages32to52form`	`partof`	`thesefinancial`	`statements.`
							`29`

			`CHELTENHAMLADIES’`	`CHELTENHAMLADIES’`	`COLLEGE`
			`AnnualReportandFinancialStatements`
				`Yearended31`	`July2022`
`BALANCESHEETSASAT`	`31JULY`	`2022`
	`Notes`	`Group`		`Charity`
		`2022`	`2021`	`2022`	`2021`
`FIXEDASSETS`		`£7000`	`£'000`	`£°000`	`£'000`
`Tangibleassets`	`11`	`56,511`	`58,410`	`56,908`	`58,808`
`investments`	`12`	`22,729`	`12,405`	`22,895`	`12,571`
		`79,240`	`70,815`	`79,803`	`71,379`
`CURRENTASSETS`
`Stocks`	`13`	`61`	`58`	`54`	`16`
`Debtors`	`14`	`11,022`	`9,041`	`11,110`	`9,299`
`Cashatbankandinhand`		`3,070`	`6,992`	`2,871`	`6,878`
		`14,153`	`16,091`	`14,035`	`16,193`
`CURRENTLIABILITIES`
`Creditorspayablewithinoneyear`	`15`	`(19,900)`	`(18,496)`	`(19,797)` `(18,313)`
`NETCURRENTLIABILITIES`		`(5,747)`	`(2,405)`	`(5,762)`	`(2,120)`
`TOTALASSETSLESSCURRENT`		`73,493`	`68,410`	`74,041`	`69,259`
`LIABILITIES`
`LONG-TERMLIABILITIES`
`Creditors:amountspayableinmorethanone`	`16`	`(6,453)`	`(5,272)`	`(6,453)`	`(5,272)`
`year`
`Definedbenefitpensionschemeliability`	`23`	`(29)`	`(46)`	`(29)`	`(46)`
`NETASSETS`		`67,011`	`63,092`	`67,559`	`63,941`
`REPRESENTEDBY:`
`EndowmentFunds`	`20`	`9,052`	`7,774`	`9,052`	`7,774`
`RestrictedFunds`	`20`	`2,094`	`2,110`	`2,094`	`2,110`
`UnrestrictedFunds`
`UnrestrictedFunds`	`20`	`55,894`	`53,254`	`56,442`	`54,103`
`PensionReserve`	`20`	`(29)`	`(46)`	`(29)`	`(46)`
`TOTALFUNDS`	`21`	`67,011`	`63,092`	`67,559`	`63,941`
`Thefinancialstatementsonpages29to52wereapproved`		`andauthorised`	`forissuebytheCouncilon`
`02December2022.`
`Uy"` `A`
`NickBaird`
`Chair`
`Thenotesonpages32to52formpartofthesefinancialstatements.`
					`30`

`CONSOLIDATEDCASHFLOW`	`STATEMENTFORTHEYEAR`	`STATEMENTFORTHEYEAR`	`STATEMENTFORTHEYEAR`
`ENDED31JULY2022`
		`2022`	`2021`
	`Notes`	`£000`	`£'000`
`CASHFLOWSFROMOPERATINGACTIVITIES`
`Netcashprovidedbyoperatingactivities`	`24`	`9,189`	`5,761`
`CASHFLOWSFROMINVESTINGACTIVITIES`
`Investmentincomeandinterestreceived`		`189`	`172`
`Proceedsfromsaleoftangiblefixedassets`		`6`	`6`
`Netadditionstoinvestmentportfolio`		`(10,512)`	`(4,611)`
`Purchaseoftangiblefixedassets`		`(2,794)`	`(1,170)`
`Netcashusedininvestingactivities`		`(13,111)`	`(5,603)`
`Changeincashandcashequivalentsintheyear`		`(3,922)`	`158`
`Cashandcashequivalentsatthebeginningofthe`		`6,992`	`6,834`
`year`
`Cashandcashequivalentsattheendoftheyear`		`3,070`	`6,992`

					`CHELTENHAMLADIES’`	`COLLEGE`
					`AnnualReportandFinancial`	`Statements`
					`Yearended31July2022`
`6.`	`Investmentincome`
	`Incomefrominvestmentfunds` `Bankandbuildingsocietyinterest`				`2022` `£000` `353` `.` `353`	`2021` `£°000` `270` `3` `273`
`7.`	`Analysisofexpenditure`
`a.`	`Totalexpenditure`
		`Staff` `costs` `£7000`		`Depreciation` `£000`	`Other` `2022` `costs` `—-£’000` `£000`	`2021` `£'000`
	`Costofgeneratingfunds` `Fundraisinganddevelopmentcosts` `Costofgoodssold` `Investmentmanagement` `Financingcosts`	`333` `802` `1,135`	`-` `-`	`-` `3` `-` `-` `3`	`22` `355` `182` `987` `21` `21` `107` `107` `332` `1,470`	`339` `877` `10` `103` `1,329`
	`Charitableactivities:` `Teaching` `Welfare` `Premisesrepairsandmaintenance` `Premisesoperationalcosts` `Awards` `Supportcostsandgovernance` `Marketing` `Collegeoperations`	`10,741` `5,143` `873` `1,997` `322` `19,076`	`-` `-`	`349` `1` `4,046` `-` `-` `.` `.` `4,396.`	`999` `42,089` `2,266` `7,410` `2,172` `7,091` `1,138` `1,138` `348` `348` `889` `2,886` `159` `481` `7,971` `31,443`	`12,092` `6,527` `6,903` `1,373` `432` `2,533` `379` `30,239`
	`Totalexpenditure`	`20,211`		`4,399`	`8,303` `32,913`	`31,568`
	`Totalexpenditure2021`	`19,818`		`4,358`	`7,392` `31,568`
`Allthesupportcostsaredirectlyattributabletotheonecharitableactivity,namely`					`education.`
`b.`	`Grants,awardsandprizes`
					`2022` `£000`	`2021` `£’000`
	`FromRestrictedFunds` `Bursaries,scholarshipsandgrants` `Prizesandleavingawards`				`310` `31` `341`	`414` `11` `425`
`c.`	`Governanceincludedinsupportcosts`
	`Auditorremunerations— statutoryaudit(netofVAT)` `Auditorremunerations— taxservices(netofVAT)` `Auditorremunerations— othernon-auditservices(net`	`ofVAT)`			`2022` `£000` `28` `1` `5`	`2021` `£’000` `28` `1` `5`
	`ReimbursementofpersonalexpensestoCouncil` `Othergovernancecosts`				`5` `82` `121`	`-` `94` `128`
						`37`

		`CHELTENHAMLADIES’COLLEGE`	`CHELTENHAMLADIES’COLLEGE`	`CHELTENHAMLADIES’COLLEGE`
		`AnnualReport`		`andFinancialStatements`
				`Yearended31July2022`
`FourteenCouncilMembers(2021:four)havebeenreimbursedexpensesorhadexpenses`			`paidontheirbehalfby`
`Collegetotalling£5k(2021:£0.4k).Expensesclaimedaredirectlyattributabletotheirdutiesastrustees(e.g.`
`travellingtoandfrommeetings).`
`8.`	`Financeandothercosts`
		`2022`		`2021`
		`£7000`		`£'000`
	`Loaninterest`	`90`		`90`
	`Definedbenefitpensionschemefinancecosts`	`4`		`-`
	`Othercosts`	`16`		`13`
		`107`		`103`
`9.`	`Staffcosts`
		`2022`		`2021`
		`Number`		`Number`
	`Theaveragenumberofpersonsemployedbythegroupduringtheyear`
	`was:`
	`Education`	`313`		`308`
	`Welfare`	`96`		`91`
	`Support,premises,cateringanddomestic`	`220`		`221`
	`Fundraisingandmarketing`	`16`		`16`
	`Tradingsubsidiaries`	`55`		`64`
		`700`		`700`
		`2022`		`2021`
		`Number`		`Number`
	`Theaveragefulltimeequivalentpersonsemployedbythegroupduring`
	`theyearwas:`
	`Education`	`186`		`186`
	`Welfare`	`48`		`45`
	`Support,premises,cateringanddomestic`	`141`		`145`
	`Fundraisingandmarketing`	`13`		`13`
	`Tradingsubsidiaries`	`26`		`29`
		`414`		`418`
		`2022`		`2021`
		`£'000`		`£°000`
	`Staffcosts`
	`Wagesandsalaries`	`16,213`		`16,014`
	`Socialsecuritycosts`	`1,506`		`1,458`
	`Pensioncosts`	`2,492`		`2,346`
		`20,211`		`19,818`
	`Thenumberofemployeeswhoseemolumentsexceeded£60,000were:`	`2022`		`2021`
		`Number`		`Number`
	`£60,001` `-£70,000`	`8`		`9`
	`£70,001` `-£80,000`	`4`		`4`
	`£80,001` `-£90,000`		`2`	`2`
	`£90,001` `-£100,000`		`3`	`4`
	`£100,001` `-£110,000`		`1`	`1`
	`£140,001` `-£150,000`		`1`	`1`
	`£200,001` `-£210,000`		`4`	`-`
	`£280,001` `-£290,000`		`-`	`1`
				`38`

	`GroupandCharity`
	`2022`	`2021`
	`£°000`	`£'000`
`Within oneyear`	`2,461`	`1,704`
`Morethanoneyear`	`1,905`	`887`
	`4,366`	`2,591`
	`GroupandCharity`
	`2022`	`2021`
	`£000`	`£’000`
`Asat1 August2021`	`2,591`	`2,802`
`Newcontracts`	`4,414`	`2,083`
`Amountsrelatingtocontractsutilisedinpaymentoffees`	`(116)`	`(2,324)`
`Amountsrelatingtocontractsrefundedinyear`	`(2,580)`	`(14)`
`Netmovementinsundryfeecreditors`	`57`	`44`
`Asat31July2022`	`4,366`	`2,591`
`18.Bankloan`
`InJuly2016,CollegearrangedanunsecuredRevolvingCreditFacility`	`of£16mwithHSBCfor10years.`	`Collegedid`
`notdrawdownonthefacilityduringtheyear,andattheyearendtherewasnooutstandingindebtedness`		`relatingto`
`thefacility(2021:£Nil).`
		`42`

	`CHELTENHAMLADIES’COLLEGE`	`CHELTENHAMLADIES’COLLEGE`
	`AnnualReport`	`andFinancialStatements`
		`Yearended31July2022`
`.Financialinstruments`
	`2022`	`2021`
	`£000`	`£'000`
`Financialassetsmeasuredatamortisedcost(a)`	`13,668`	`15,841`
`Financialassetsmeasureatfairvalue(b)`	`22,729`	`12,405`
`Financialliabilitiesmeasuredatamortisedcost(c)`	`(11,299)`	`(11,009)`
`Financialliabilitiesmeasuredatfairvalue(d)`	`(29)`	`(46)`
	`25,069`	`17,191`

	`CHELTENHAMLADIES’`	`CHELTENHAMLADIES’`	`COLLEGE`
	`AnnualReportandFinancial`		`Statements`
		`Yearended31July2022`
`30.Collegeonlytotalfunds`
`College’sownresultsfortheyearincludedintheConsolidatedStatementofFinancialActivitieswere:`
	`2022` `£7000`		`2021` `£'000`
`IncomeandEndowmentsfrom:`
`Charitableactivities` `Feeincome` `Ancillarytradingincome` `Otherincome`	`31,498` `1,758` `102`		`27,310` `1,087` `1,198`
`Voluntarysources` `Donationsandlegacies`	`1,733`		`981`
`Othertradingactivities` `Non-ancillarytradingincome`	`419`		`194`
`Investments` `Investmentincomeandinterest`	`353`		`273`
`Totalincomeandendowments`	`35,863`		`31,043`
`Expenditureon:`
`Raisingfunds` `Fundraising` `Non-ancillarytrading` `Financingcosts` `Investmentmanagementcosts`	`355` `107` `21` `483`	`-`	`339` `130` `103` `10` `582`
`Charitableactivities`	`31,443`		`30,253`
`Totalexpenditure`	`31,926`		`30,835`
`Netincomingfundsfromoperationsbeforeinvestmentgainsor`	`3,937`		`208`
`losses`
`Net(losses)/gainsoninvestments`	`(329)`		`945`
`Netincome`	`3,608`		`1,153`
`Actuarialgainsondefinedbenefitpensionschemes`	`10`		`38`
`Netmovementinfunds`	`3,618`		`1,191`
`Reconciliationoffunds:` `Totalfundsbroughtforward`	`63,941`		`62,750`
`Totalfundscarriedforward`	`67,559`		`63,941`