2022-06-30-accounts - The Royal Medical Foundation Of Epsom College

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	`Page`
`CouncilandAdvisers`	`1`
`ReportoftheCouncil`	`2-14`
`ReportoftheIndependentAuditor`	`15-17`
`ConsolidatedStatementofFinancialActivities`	`18`
`GroupandCharityBalanceSheets`	`19`
`ConsolidatedCashFlowStatement`	`20-21`
`NotestotheFinancialStatements`	`22-41`

`ROYALMEDICAL`	`ROYALMEDICAL`	`FOUNDATIONOF`	`FOUNDATIONOF`	`FOUNDATIONOF`	`EPSOM`		`COLLEGE`	`COLLEGE`
`CONSOLIDATEDSTATEMENTOFFINANCIAL`							`ACTIVITIES`
	`FORTHE`	`YEAR`		`ENDED30JUNE2022`
		`Notes`		`Unrestricted`	`Restricted`			`\|Endowed`	`Total`	`Total`
									`2022`	`2021`
`INCOMEANDENDOWMENTS`	`FROM:`			`£'000`	`£'000`			`£'000`	`£'000`	`£'000`
`Charitableactivities`
`Schoolfeesreceivable`			`2`	`29,218`			`-`	`-`	`29,218`	`24,956`
`Ancillarytradingincome`			`3`	`1,859`			`-`	`-`	`1,859`	`1,572`
`Othertradingactivities`
`Non-ancillarytradingincome`			`4`	`378`			`-`	`-`	`378`	`14]`
`Otheractivities`			`4`	`200`			`-`	`-`	`200`	`200`
`Investments`
`Investmentincome`				`94`	`402`			`4`	`500`	`460`
`Bankinterest`				`12`		`2`		`-`	`14`	`10`
`Voluntarysources`
`Grantsanddonations`			`6`	`104`	`1,342`			`-`	`1,446`	`1,476`
`TOTALBEFOREFINANCEINCOME`				`31,865`	`1,746`			`4`	`33,615`	`28,815`
`Changeinfairvalueofderivatives`			`5`	`1,294`			`-`	`-`	`1,294`	`451`
`TOTALINCOME`				`33,159`	`1,746`			`4`	`34,909`	`29,266`
`EXPENDITUREON:`
`Raisingfunds`
`Non-ancillarytrading`			`7`	`135`			`-`	`-`	`135`	`62`
`Financingcosts`		`78`		`535`			`-`	`-`	`535`	`738`
`Investmentmanagement`			`7`	`12`	`16`			`52`	`80`	`74`
`Fundraisinganddevelopment`			`7`	`166`			`-`	`-`	`166`	`166`
`TOTALDEDUCTIBLECOSTS`				`848`	`16`			`52`	`916`	`1,040`
`CHARITABLEACTIVITIES`
`Educationandgrantmaking`			`7`	`28,223`	`717`			`:`	`29,000`	`26,426`
`TOTALEXPENDITURE`			`7`	`29,071`	`793`			`52`	`29,916`	`27,466`
`NETINCOME/(EXPENDITURE)`
`FROMOPERATIONS`				`4,088`	`953`			`(48)`	`4,993`	`1,800`
`(Losses)/gainsoninvestments`		`11`		`(254)`	`(348)`			`(1,097)`	`(1,699)`	`2,588`
`NETINCOMEFORTHEYEAR`				`3,834`	`605`			`(1,145)`	`3,294`	`4,388`
`Pensionschemeactuariallosses`		`21`		`125`			`-`	`-`	`125`	`(1)`
`NETMOVEMENTINFUNDS`				`3,959`	`605`			`(1,145)`	`3,419`	`4,387`
`Fundbalancesbroughtforwardat`	`1July`	`20`		`20,237`	`6,457`			`12,365`	`39,059`	`34,672`
`FUNDBALANCESCARRIED`		`20`		`24,196`	`7,062`			`11,220`	`42,478`	`39,059`
`FORWARDAT30JUNE`
`Thenotesonpages22to41`			`formpartofthese`		`financial`	`statements`

	`ROYALMEDICAL`	`ROYALMEDICAL`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`
	`GROUPAND`		`CHARITYBALANCESHEETS`
			`AT30JUNE2022`
			`Group`	`Group`	`Charity`	`Charity`
			`2022`	`2021`	`2022`	`2021`
		`Notes`	`£'000`		`£'000`	`£'000`
`FIXEDASSETS`
`Tangibleassets`		`10`	`33,874`	`30,289`	`33,852`	`30,261`
`Investments`		`11`	`16,512`	`17,789`	`16,587`	`17,864`
`Derivatives`		`12`	`1,435`	`451`	`1,435`	`451`
			`51,821`	`48,529`	`51,874`	`48,576`
`CURRENTASSETS`
`Stock`			`51`	`33`	`47`	`30`
`Debtors`		`13`	`1,192`	`841`	`1,680`	`997`
`Cashanddeposits`			`11,929`	`7,155`	`11,331`	`6,912`
			`13,172`	`8,029`	`13,058`	`7,939`
`CURRENTLIABILITIES`
`Creditorspayablewithinoneyear`		`14`	`(7,396)`	`(6,067)`	`(7,351)`	`(6,040)`
`NETCURRENTASSETS`			`5,776`	`1,962`	`5,707`	`1,899`
`TOTALASSETSLESS`
`CURRENTLIABILITIES`			`57,597`	`50,491`	`57,581`	`50,475`
`LONGTERMLIABILITIES`
`Creditorspayableafteroneyear`		`15`	`(15,119)`	`(11,432)`	`(15,119)`	`(11,432)`
`NETASSETS`			`42,478`	`39,059`	`42,462`	`39,043`
`ENDOWEDFUNDS`		`19,20`	`11,220`	`12,365`	`11,220`	`12,365`
`RESTRICTEDFUNDS`		`19,20`	`7,062`	`6,457`	`7,062`	`6,457`
`UNRESTRICTEDFUNDS`		`19,20`	`24,196`	`20,237`	`24,180`	`20,221`
`TOTALFUNDS`			`42,478`	`39,059`	`42,462`	`39,043`
`Thenetresultofthecharityfortheyear,included`			`withinthefinancialstatements,wasa surplusof£3,003,000(2021:£4,145,000).`
`ApprovedandauthorisedforissuebyMembersofCouncilpresentata meetingon9 November2022`					`andsignedon`	`theirbehalfby:`
`birdie`	`(Cor`
`A.J.Pianca`
`Treasurer`

`ROYAL MEDICAL`	`ROYAL MEDICAL`	`ROYAL MEDICAL`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`	`FOUNDATIONOFEPSOMCOLLEGE`
`NOTESTOTHEFINANCIALSTATEMENTS`								`(CONTINUED)`
	`FORTHE`		`YEARENDED30JUNE`				`2022`
`GRANTSANDDONATIONSRECEIVABLE`
										`Total`		`Total`
				`Unrestricted`		`Restricted`		`Endowment`		`2022`		`2021`
				`£'000`		`£'000`			`£'000`	`£'000`		`£'000`
`DonationstoRoyalMedical`	`Foundation`
				`2`			`-`		`-`		`2`	`6`
`DonationstotheCollegefor`	`other`
`charities,bursaries,fixedassetpurchases`				`-`		`426`			`-`	`426`		`368`
`and otherpurposes`
`DonationstotheEpsomCollegeEducation`
`Trustforthedevelopmentofeducational`												`434`
`facilitiesandactivitiesoftheCollege`				`-`		`916`			`-`	`916`
`GovernmentGrants`				`102`			`-`		`-`	`102`		`668`
				`104`		`1,342`			`-`	`1,446`		`1,476`
`Duringtheyearended30`	`June2022six`		`Governorsmade`		`total`	`donations`		`of£120,000to`		`theCollege`		`forthe`
`developmentofeducational`	`facilitiesandactivitiesoftheCollege`					`(2021:five`		`Governorsdonated£5,000`			`intotal).`
`TheGovernmentGrant was`	`receivedunder`		`theCoronavirus`		`JobRetentionSchemefor3 monthsduringtheyear`
`(2021:tenmonths).`
`ANALYSISOFTOTALEXPENDITURE`
`(a)Totalexpenditure`
		`Staff`		`Other`						`2022`		`2021`
		`Costs`		`Costs`		`Depreciation`			`Total`			`Total`
		`£'000`		`£'000`			`£'000`			`£'000`		`£'000`
`Raisingfunds`
`Tradingcosts`				`-`	`123`			`12`		`135`		`62`
`Fundraisingcosts`			`143`		`23`				`-`	`166`		`166`
`Investmentmanagement`				`-`	`80`				`-`	`80`		`74`
`Financingcosts(note8)`				`:`	`535`				`:`	`535`		`738`
`Totalraisingfunds`			`143`		`761`			`12`		`916`		`1,040`
`Charitableactivities`
`Teaching`		`11,009`		`2,297`				`26`	`13,332`			`12,380`
`Welfare`		`3,419`		`1,909`					`-`	`5,328`		`4,579`
`Premises`			`448`	`2,239`				`2,438`	`5,125`			`4,942`
`Supportandgovernancecosts`		`1,784`		`1,959`				`659`		`4,402`		`3,858`
`Grants,awardsandprizes`			`-`		`813`				`-`	`813`		`667`
`Totalcharitableactivities`		`16,660`		`9,217`				`3,123`	`29,000`			`26,426`
`Totalexpenditure`		`16,803`		`9,978`				`3,135`	`29,916`			`27,466`