# # # # # # # # # # # |||||`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`
|