2022-08-31-accounts - Queen's College

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`Contents`	`Pages`
`Legalandadministrativeinformation`	`1`
`TheCouncil’sreport`	`2-13`
`StatementoftheCouncil’sresponsibilities`	`14`
`Auditor’sreport`	`15-16`
`Statementoffinancialactivities`	`17`
`Balancesheet`	`18`
`StatementofCashflows`	`19`
`Notestotheaccounts`	`20-31`

`QUEEN’SCOLLEGE,LONDON`
`STATEMENTOFCASHFLOWS`
`YEAR ENDED31AUGUST2022`
		`2022`	`2021`
		`£`	`£`
`Cashflowsfromoperatingactivities:`
`Netcashprovidedbyoperatingactivities`		`632,132`	`240,993`
`Cashflowsfrominvestingactivities:`
`Investmentincome`		`90,502`	`82,528`
`Paymentstoacquiretangiblefixedassets`		`(536,219)`	`(229,793)`
`Paymentstoacquireinvestments`		`(613,410)`	`(339,697)`
`Proceedsfromdisposalofinvestments`		`613,443`	`269,432`
`Otherreceiptsandmovementsfrominvestmentportfolio`		`(1,031,067)`	`46,343`
`Netcashusedininvestingactivities`		`(1,476,751)`	`(171,187)`
`Changeincash and cashequivalentsinthereportingperiod`		`(844,619)`	`69,806`
`Cashandcashequivalentsatthebeginningofthereportingperiod`		`3,443,406`	`3,373,600`
`Cashandcashequivalentsattheendofthereportingperiod`		`2,598,787`	`3,443,406`
`Reconciliationofnetincometonetcash flowfromoperatingactivities`
		`2022`	`2021`
		`£`	`£`
`Net(expenditure)/incomeforthereportingperiod`
`(asperthestatementoffinancialactivities)`		`(21,422)`	`19,774`
`Adjustmentsfor:`
`Netloss/(gain)oninvestments`		`214,773`	`(390,257)`
`Depreciationcharges`		`429,997`	`491,091`
`Investmentincome`		`(90,502)`	`(82,528)`
`Increaseindebtors`		`(193,402)`	`(347,217)`
`Increaseincreditors`		`292,688`	`550,130`
`Netcashprovidedbyoperatingactivities`		`632,132`	`240,993`
`Analysisofcashandcashequivalents`		`2022`	`2021`
		`£`	`£`
`Cashinhand`		`2,598,787`	`3,443,406`
`Totalcashandcashequivalents`		`2,598,787`	`3,443,406`
`NetDebtanalysisofcashandcashequivalents`	`2021`	`Cashflows`	`2022`
	`£`	`£`	`£`
`Cashinhand`	`3,443,406`	`(844,619)`	`2,598,787`
`Totalnetdebt`	`3,443,406`	`(844,619)`	`2,598,787`

`Totalexpenditure- 2022`	`Staff`			`Other`	`Total`	`Total`
	`Costs`	`Depreciation`		`Costs`	`2022`	`2021`
	`£`	`£`		`£`	`£`	`£`
`Costsofraisingfunds`
`Investmentmanagement`
`costs`	`-`		`-`	`12,520`	`12,520`	`11,555`
`Fundraising`	`-`		`-`	`64,885`	`64,885`	`57,950`
`Totalcostsofraisingfunds`	`-`		`-`	`77,405`	`77,405`	`69,505`
`Charitableactivities`
`Teaching`	`5,579,516`		`-`	`237,722`	`5,817,238`	`5,609,570`
`Housekeeping,cleaningandcatering`	`-`		`-`	`1,067,977`	`1,067,977`	`936,188`
`Premisescosts`	`125,966`	`429,997`		`1,456,166`	`2,012,129`	`2,076,201`
`Supportcosts`	`1,639,312`		`-`	`1,072,493`	`2,711,805`	`2,415,616`
`Totalcharitableactivities`	`7,344,794`	`429,997`		`3,834,358`	`11,609,149`	`11,037,575`
`Totalexpenditure`	`7,344,794`	`429,997`		`3,911,763`	`11,686,554`	`11,107,080`
`Includedwithinsupportcostsabovearegovernancecostsof£14,500`			`(2021:`	`£13,600)inrespectofpaymentsmade`
`totheauditorsforauditservices.`
`Includedwithinpremisescostsis£1,069,412(2021:£1,024,649)inrelation`				`tooperating`	`leasepayments.`
`Totalexpenditure- 2021`	`Staff`			`Other`	`Total`	`Total`
	`Costs`	`Depreciation`		`Costs`	`2021`	`2020`
	`£`	`£`		`£`	`£`	`£`
`Costsofraisingfunds`
`Investmentmanagement`
`costs`		`-`	`-`	`11,555`	`11,555`	`10,985`
`Fundraising`		`-`	`-`	`57,950`	`57,950`	`27,564`
`Totalcostsofraisingfunds`		`-`	`-`	`69,505`	`69,505`	`38,549`
`Charitableactivities`
`Teaching`	`5,487,055`		`-`	`122,515`	`5,609,570`	`5,441,902`
`Housekeeping,cleaningandcatering`		`-`	`-`	`936,188`	`936,188`	`728,752`
`Premisescosts`	`117,945`	`491,091`		`1,467,164`	`2,076,201`	`2,008,013`
`Supportcosts`	`1,468,256`		`-`	`947,360`	`2,415,616`	`2,184,172`
`Totalcharitableactivities`	`7,073,257`	`491,091`		`3,473,226`	`11,037,575`	`10,362,839`
`Totalexpenditure`	`7,073,257`	`491,091`		`3,542,732`	`11,107,080`	`10,401,388`

`OtherSupportcostscanbeanalysedasfollows:`
	`2022`	`2021`
	`£`	`£`
`Insurance`	`134,724`	`138,180`
`Printing,PostageandStationery`	`96,779`	`148,270`
`TelephoneandIT`	`302,145`	`221,760`
`Advertising` `Catering,hospitality`	`12,845` `59,218`	`19,593` `13,211`
`Opendays,certs,presentations,churchservices,foundersday,flowers`	`21,914`	`15,310`
`PEcourthire,transport`	`160,755`	`77,167`
`Recruitment,retention,training,welfare` `Other`	`114,372` `169,741`	`97,272` `216,597`
	`1,072,493`	`947,360`
`Council`
`NoneoftheCouncil(oranypersonsconnectedwiththem)receivedanyremunerationorbenefitsfromtheCollege`
`duringtheyear(2021:none).`
`Employees`	`2022`	`2021`
`Numberofemployees`	`Number`	`Number`
`Theaveragemonthlynumberofemployeesduringtheyearwas:`
`Teachingstaff` `Non-teachingstaff`	`90` `46`	`82` `46`
	`136`	`128`
`Employmentcosts`	`2022`	`2021`
	`£`	`£`
`Wagesandsalaries`	`5,633,973`	`5,257,373`
`Socialsecuritycosts`	`641,976`	`568,282`
`Pensioncontributions` `Terminationandredundancy payments`	`1,068,445` `-`	`991,715` `10,420`
	`7,344,794`	`6,827,789`
	`2022`	`2021`
	`Number`	`Number`
`Thenumberofemployeeswhoseremunerationwas£60,000ormorewere:`
`£60,000- £70,000` `£70,000- £80,000` `£80,000- £90,000` `£90,000- £100,000` `£100,000- £110,000` `£160,000- £170,000`	`FPNRK` `WDOO`	`AN` `Hr` `WwW` `\|,`
`Thetotalremunerationofkeymanagementpersonnelintheyearwas£1,216,536(2021:£1,076,371).`

	`Tangiblefixedassets`					`Leasehold`
						`Improvements`
						`£`
	`Cost`
	`At1 September2021`					`8,779,747`
	`Additions`					`536,219`
	`At31August2022`					`9,315,966`
	`Depreciation`
	`At1 September2021`					`4,170,267`
	`Chargefortheyear`					`429,997`
	`At31August2022`					`4,600,264`
	`Netbookvalue`
	`At31August2022`					`4,715,702`
	`At31August2021`					`4,609,480`
	`Fixedassetinvestments`	`General`	`Designated`	`_Restricted`	`Total`	`Total`
		`Funds`	`Funds`	`Funds`	`2022`	`2021`
		`£`	`£`	`£`	`£`	`£`
	`Marketvalueat1 September2021`	`874,195`	`462,180`	`1,344,727`	`2,681,102`	`2,266,923`
	`Acquisitionsatcost`	`46,150`	`29,778`	`537,482`	`613,410`	`339,697`
	`Disposalsatopeningbookvalue`	`(47,487)`	`(250,069)`	`(315,887)`	`(613,443)`	`(269,432)`
	`Changeinvalueintheyear`
	`(includinginvestmentcash` `movements)`	`375,206`	`(241,889)`	`682,977`	`816,294`	`343,914`
	`Marketvalueat31August2022`	`1,248,064`	`-`	`2,249,299`	`3,497,363`	`2,681,102`
`10.`	`Debtors`				`Total` `2022`	`Total` `2021`
					`£`	`£`
	`Feedebtors` `Otherdebtors` `Prepaymentsandaccruedincome`				`3,155,092` `41,293` `332,813`	`2,967,534` `27,212` `341,050`
					`3,529,198`	`3,335,796`

`19.` `ComparativeStatementofFinancialActivities`	`19.` `ComparativeStatementofFinancialActivities`
		`Unrestricted`	`Restricted`	`Total`
		`Funds`	`Funds`	`2021`
	`Notes`	`£`	`£`	`£`
`INCOMEFROM:`
`Donationsandgrantsreceivable`	`2`	`14,098`	`203,189`	`217,287`
`Investments`	`3`	`37,220`	`45,308`	`82,528`
		`51,318`	`248,497`	`299,815`
`Charitableactivity`
`Education`	`4`	`10,436,782`	`-`	`10,436,782`
`Totalincome`		`10,488,100`	`248,497`	`10,736,597`
`EXPENDITUREON:`
`Raisingfunds`		`69,505`	`=`	`69,505`
`Charitableactivity`
`Education`		`11,037,575`	`=`	`11,037,575`
`Totalexpenditure`	`5`	`11,107,080`	`-`	`11,107,080`
`Netincomebeforenetlosseson`
`investments`		`(618,980)`	`248,497`	`(370,483)`
`Netgains/(losses)oninvestments`		`187,212`	`203,044`	`390,257`
`Netincome`		`(431,767)`	`451,541`	`19,774`
`Transfersbetweenfunds`	`13/14`	`28,990`	`(28,990)`	`-`
`Netmovementinfunds`		`(402,777)`	`422,551`	`19,774`
`Fundbalancesat1 September2020`		`6,909,579`	`1,286,908`	`8,196,487`
`Fundbalancesat31August2021`		`6,506,802`	`1,709,459`	`8,216,261`