St Edmund Hall, Oxford
Accounts for financial year ended 31st July 2002

CLICK FOR THE COLLEGE CALENDAR ENTRY (ST EDMUND HALL FELLOWS LIST ETC.)
OR THE COLLEGE'S OWN WEBSITE (EXITS WWW.AKME)
OR THE LATEST ST EDMUND HALL ACCOUNTS 2005/6 PDF
(for intervening years, e-mail request to akme@btinternet.com)
THE OXBRIDGE COLLEGE ACCOUNTS INDEX.

Numbers of students in residence during the academic year 2001-02 (taken from University Calendar 2003-04):
394 undergraduates, 81 postgraduates, 25 additional. Total=500. Click for the complete list.

INDEX: I Consolidated revenue statement, II Statutory endowment income and college contribution,
III Endowment account, IV & V Education & research account and Internal account,
VI Summary of transactions affecting accumulated balances, VII Statement of balances, opinion of the auditors.

I. CONSOLIDATED REVENUE STATEMENT

2000-01 £INCOME.2001-02 £
. From endowments and other funds:..
655,331 Net income as shown in Statement III 660,008 .
. Less: College contribution (Statement III) Nil .
655,331..660,008
. . . .
4,457,292 From fees, dues and charges (including room rents) 4,636,947 .
908,462 Less: Collected on behalf of the University 954,574 .
3,548,830..3,682,373
. From grants and donations: . .
65,955 From the University 43,866 .
. From other Oxford colleges . .
9,000 From outside sources . .
. .. 43,866
. From other sources: . .
. . . .
________ . . ________
4,295,322 Total income . 4,399,700
. . . .
. EXPENDITURE . .
. For the college's own purposes: . .
. Other than on premises: . .
1,503,471 (i) Education and Research (Statement IV) 1,594,576 .
1,693,232 (ii) Internal (Statement V) 1,734,653 .
793,530 On college premises (Statement III) 858,642 .
3,990,233 . . 4,187,871
. . . .
2,429 For other purposes, excluding college contribution (Statement III) . 1,679
________. .________
3,992,662 Total expenditure . 4,189,550
. . . .
. SURPLUS/(DEFICIT) FOR YEAR carried to Statement VI . .
. Trust funds of which, under the terms of trusts, there was: . .
. (a) available for the college's general purposes . .
28,293 (b) carried forward for the trust purposes . (402,815)
________. .________
28,293 . . (402,815)
. . . .
88,208 Reserves and special funds . 136,161
186.159 Revenue account . 476,804
302,660 . . 2l0,150
. Attributable to: . .
204,315 Endowment (Statement III) 105,296 .
70,212 Education and Research (Statement IV) 93,348 .
28,133 Internal (Statement V) 11,506 .
302,660 . 210,150 .

II. STATUTORY ENDOWMENT INCOME AND COLLEGE CONTRIBUTION

Return to the File Index.

2000-01 £GROSS INCOME.2001-02 £
. From all relevant sources except trusts of which the college is not the sole trustee: . .
. Rent: . .
4 Agricultural land . 4
. Non-agricultural land . .
133,985 Let on terms that tenant not responsible for structural repairs . 144,737
. Let on other terms . .
. Gross value for rating purposes of college houses outside
the curtilage occupied by the head, fellows or employees		 . .
. Income from timber . .
. Income from minerals and mineral rights . .
673,988 Interest and dividends . 699,290
. Underwriting commissions . .
4,276 Copyright royalties . 3,095
. Other income: . .
53 Bursary . 53
________..________
812,306 . . 847,179
. Less . .
. Amount (if any) of income included above which has to be appropriated to funds
established, with the approval of the College Contributions Committee, under Section 29 of
the Universities and College Estates Act, 1923 (as amended) but not separately invested		. .
. Amounts which must be applied by the college as sole trustee for purposes wholly outside the
objects of the college out of the income and in compliance with the terms, of trusts of which
the income is included above as being in part applicable for the benefit of the college		 . .
. From trusts of which the college is not sole trustee: . .
. Income paid to the college by the trustees or applied by them to any purpose of the college . .
________..________
812,306 Total of gross income from endowments and other sources as shown in Statement III . 847,179
. . . .
. PERMISSIBLE DEDUCTIONS . .
. (a) Standard deductions: . .
1In respect of the full amount of rents from agricultural land 4 @25% 1 .
53,594 In respect of the full amount of rents from non-agricultural land let on terms
that tenant not responsible for structural repairs		 144,737 @40% 57,895 .
. In respect of the full amount of rents from non-agricultural land let on other terms
(including, at gross value for rating purposes, college houses outside
the curtilage occupied by the head, fellows or employees) 		@10% .
33,699 In respect of the gross amount of interest and dividends 699,290 @5% 34,965 .
.(b) In respect of leaseholds:. .
. (i) Rent payable . .
. (ii) Amortization of lease premium . .
3,693 (c) Interest 2,651 .
. (d) Allowances for exceptional obligations . .
________ .________.
90,987 . . 95,512
721,319 STATUTORY ENDOWMENT INCOME . 751,667
. . . .
. CONTRIBUTION PAYABLE . .
. On 751,667 Nil .

III. ENDOWMENT ACCOUNT

Return to the File Index.

2000-01 £ INCOME . 2001-02 £
812,306 Gross income from endowment and other sources as shown in Statement II . 847,179
. Surplus/(deficit) on home farms and farms, sporting rights, etc., in hand after deducting
rental value included in gross income above and any relevant expenses not taken into account below		 . .
. Rents, less rental value included in gross income above, in respect of rateable hereditaments
outside the curtilage of the college occupied by a head, a fellow or an employee of the college		 . .
________.. ________
812,306 . . 847,179
. Less: Expenses of obtaining that income: . .
. Rent, rates, taxes and insurance (less commission) . .
. Provision for major repairs . .
30 Other repairs and maintenance 88 .
. Amortization and depreciation . .
. . . .
92,192 Agency, management and administration 73,505 .
. Donations and subscriptions in connection with estates . .
. Entertainment of tenants and others . .
. Other expenses: . .
64,753 Development Office 113,578 .
________.________ .
156,975 . . 187,171
655,331 Net income as shown in Statement I . 660,008
. . . .
. AMOUNTS PAYABLE OUT OF ABOVE NET INCOME OTHERWISE
THAN FOR THE COLLEGE'S OWN PURPOSES		 . .
. College contribution (Statement II) Nil .
. Donations and subscriptions: . .
520 (i) for University objects 1,020 .
1,909 (ii) Other 659 .
. Livings . .
. Maintenance of schools . .
. Other: . .
________ . ________ .
2,429 . 1,679 .
2,429 . . 1,679
________ . . ________
652,902 Net income available for college's own purposes . 658,329
. Less: Amount of trust fund income transferred to Statement IV and V
equivalent to expenditure from trusts included in those Statements.		 . .
169,096 Statement IV 250,868 .
. Statement V . .
________.________.
169,096 . . 250,868
483,806 BALANCE AVAILABLE FOR THE COLLEGE'S OWN PURPOSES . 407,461
. . . .
. EXPENSES OF COLLEGE PREMISES AND AEDES ANNEXAE . .
. Repair and maintenance of fabric and exterior of buildings: . .
313,600 (i) Provision for major repairs 329,000 .
20,040 (ii) Other repairs and maintenance 22,333 .
. (iii) Amortization and depreciation . .
________.________ .
333,640 . 351,333 .
18,329 Upkeep of gardens and grounds 23,093 .
351,969 . . 374,426
. All other building repairs and maintenance (including interior redecoration): . .
134,400 (i) Provision for major repairs 141,000 .
153,775 (ii) Other repairs and maintenance 173,911 .
101,906 Rent 103,238 .
3,128 Rates and taxes 13,737 .
48,352 Insurance (less commission) 52,330 .
441,561 . . 484,216
793,530.. 858,642
. Less: Contribution from Statements IV and V: . .
72,478 (i) For upkeep of fabric, gardens and grounds (based on standard formula) 72,261 .
441,561 (ii) For other expenses 484,216 .
514,039 . . 556,477
279,491 . . 302,165
. . . .
204,315 SURPLUS/(DEFICIT) . 105,296

IV. EDUCATION AND RESEARCH ACCOUNT
V. INTERNAL ACCOUNT

Return to the File Index.

2000-01 £
IV Ed&Res		2000-01 £
V Internal		INCOME 2001-02 £
IV Education
& Research		2001-02 £
V Internal		2001-02 £
Total
. . Fees (other than those collected for the University) . . .
1,422,587 333,693 Consolidated 1,497,754 351,325 1,849,079
. . (ii) Tuition . . .
. . (iii) Dues and establishment charges . . .
. . (iv) Degree . . .
. . (v) Library . . .
. . (vi) Other . . .
________ ________ . ________________________
1,422,587 333,693 . 1,497,754 351,325 1,849,079
. . . . . .
9,853 1,607,350 Charges for accommodation (including notional room rents), meals & service 6,731 1,654,237 1,660,968
. 54,209 Rents from furnished accommodation outside the college occupied by student members . 62,969 62,969
. 121,138 Sales from buttery and stores . 109,357 109,357
________ ________ . ________________________
1,432,440 *2,116,390 . 1,504,485 *2,177,8883,682,373
. . . . . .
169,096 . Amount of trust fund income available only for expenditure dealt with
in this account (transferred from Statement III)		 250,868 . 250,868
. . . . . .
. . Research grants: . . .
. . (i) From the University . . .
. . (ii) From other Oxford colleges . . .
. . (iii) From outside sources . . .
. . . . . .
. . Other Grants and contributions . . .
65,955 . (i) From the University 43,866 . .
. . (ii) From other Oxford colleges . . .
9,000 . (iii) From outside sources . . .
________ . . ________ . .
74,955 . . 43,866 . .
. . . . . 43,866
. . Charges to other accounts: . . .
. . Statement III: Entertainment of tenants and others . . .
. 39,550 Statement IV: Common Table . 39,807 .
. 37,832 Statement IV: College hospitality . 31,057 .
. 77,382 . . 70,864 70,864
. . Other income: . . .
. 16,206 Miscellaneous . 13,453 13,453
________ ________ . ________________________
1,676,491 2,209,978 Total income 1,799,219 2,262,205 4,061,424
. . . . . .
..* NOTE: Charged to...
. 1,394,688 Members and employees of the college . 1,594,924 .
. . Other colleges . . .
. 721,702 Others (conferences etc.) . 582,964 .
. ________ . . ________ .
. 2,116,390 . . 2,177,888 .
. . . . . .
..EXPENDITURE.. .
63,607 . Head of College 64,649 . 64,649
460,992 . Teaching fellows 515,814 . 515,814
3,247 . Other fellows 4,038 . 4,038
87,747 . Stipendiary lecturers 109,701 . 109,701
165,214 . Outside tuition payments 172,852 . 172,852
12,273 . Other tuition and research expenses (including research assistants) 10,692 . 10,692
39,550 . Common Table 39,807 . 39,807
81,880 . Library 93,219 . 93,219
. . Research studentships, scholarships, exhibitions, prizes, grants: . . .
. 34,894 (i) Provided from trust funds 43,191 . .
57,085 . (ii) Provided otherwise 64,557 . .
91,979 . . 107,748 . 107,748
. . . . . .
13,317 . Examiners and examination expenses (including fees
paid to the Oxford Colleges Admissions Office)		 11,323 . 11,323
14,823 . Chaplain and chapel services 14,564 . 14,564
37,832 . College hospitality 31,057 . 31,057
54,714 . Junior clubs 52,234 . 52,234
372 . Subscriptions and donations to the college's own academic objectives 652 . 652
. 244,248 Catering supplies consumed (less sale of waste). 245,823 245,823
. 9,735 Outside caterers' and other colleges' charges . 9,840 9,840
..Services:...
53,716 755,150 (i) Domestic staff 56,461 826,553 883,014
27,324 150,907 (ii) Heat, light, water 14,257 101,037 115,294
4,565 41,308 (iii) Laundry and cleaning 5,318 49,608 54,926
14,671 218,500 (iv) Repair, renewal, insurance (less commissions) and
depreciation of furniture and equipment		 12,512 178,581 191,093
100,276 1,165,865 . 88,548 1,155,7791,244,327
. .Administration: . . .
65,182 28,052 (i) College officers and others 56,757 29,070 85,827
168,539 157,848 (ii) Office and clerical staff 165,038 174,525 339,563
20,530 84,218 (iii) Office expenses 29,800 88,523 118,323
6,408 13,970 (iv) Legal and professional charges 5,614 10,226 15,840
________ ________ . ________ ________ ________
260,659 284,088 . 257,209 302,344 559,553
. . . . . .
353 1,414 Pensions paid to former members and employees of the college 305 1,219 1,524
. . Other expenses . . .
14,636 65,264 Miscellaneous 20,164 90,512 110,676
________________. ________________________
1,503,471 1,770,614 . 1,594,576 1,805,517 3,400,093
..College premises:...
102,808 411,231 Contribution to Statement III for repair and maintenance, rent, rates, taxes, insurance 111,295 445,182 556,477
________ ________ . ________________________
1,606,279 2,181,845 . 1,705,871 2,250,699 3,956,570
. . . . . .
70,212 28,133 SURPLUS/(DEFICIT) 93,348 11,506 104,854

VI. SUMMARY OF TRANSACTIONS AFFECTING ACCUMULATED BALANCES

Return to the File Index.

. Trust funds
for purposes
wholly outside
the objects of
the college £		 Other trust
funds £		 Capital
account £		 Reserves
and special
funds £		 Revenue
account £		 Total £
BALANCES AT BEGINNING OF YEAR
(excluding invested balances of trust
funds and capital account)		 . 2,195,679 570,005 2,275,525 338,170 5,379,379
ADD:......
Net proceeds of sale of estates . . . . . .
Net proceeds of sale and redemption of
securities of trust funds and capital account		 . 5,196,249 . . . 5,196,249
Surplus/(deficit) of income for the year: . . . . . .
(i) Trust funds only for purposes wholly
outside the objects of the college		 . . . . . .
(ii) Capital account - income of funds established
under Section 29 of the Universities and
College Estates Act 1925 (as amended)		 . . . . . .
(iii) Other accounts and funds (Statement I) . (402,815) . 136,161 476,804 210,150
Internal transfers: . . . . . .
(i) As the result of charges made in arriving at amounts
of surplus/(deficit) of income for the year 		. . . 470,000 . 470,000
(ii) Otherwise . 13,390 . . . 13,390
Other receipts: . . . . . .
Grants from University . . 116,500 . . 116,500
Donations and bequests . 1,370,718 . 344,992 . 1,715,710
.________________ ________________________ ________
. . 6,177,542 116,500 951,153 476,804 7,721,999
DEDUCT:... ...
Cost of purchase and improvement of estates . . . . . .
Cost of purchase of securities for trust funds
and capital account		 . 4,180,219 570,005 . . 4,750,224
Cost of additions and improvements to college premises. . . 125,507 . 125,507
Expenditure out of fund for major repairs to estates . . . . . .
Major repairs to fabric and exterior of buildings . . . 64,870 . 64,870
Other major repairs and maintenance
(including interior redecoration)		 . . . 433,681 . 433,681
Internal transfers - amounts deducted otherwise than
in arriving at surplus/(deficit) of income for year		 . . . 12,493 897 13,390
Other payments: . . . . . .
Loss from sale of investments . . . 73,923 . 73,923
Other payments . 49,044 . .. 49,044
.________________ ________________________ ________
. . 4,229,263 570,005 294,899 897 5,095,064
. . . . . . .
BALANCES AT END OF YEAR
(excluding invested balances of trust
funds and capital accounts)		 . 4,143,958 116,500 2,931,779 814,077 8,006,314

VII. STATEMENT OF BALANCES

Return to the File Index.

2000-01 £ . . 2001-02 £
. Trust funds (excluding amounts invested) held and administered by the college: . .
. (i) Only for purposes wholly outside the objects of the college . .
2,195,679 (ii) Wholly or partly for the benefit of the college 4,143,958 .
2,195,679 . . 4,143,958
. . . .
570,005 Capital account (excluding amount invested) . 116,500
2,275,525 Reserves and special funds . 2,931,779
338,170 Revenue account . 814,077
________ . . ________
5,379,379 . . 8,006,314
. . . .
. Represented by: . .
. ASSETS . .
1,994 Cash in hands of officers and servants 2,079 .
604,044 Balance with bankers . 657,788
3,572,490 Deposits other than with bankers . 5,615,860
803,838 Investments (other than of trust funds and capital account)
NOTE: Market Value 1,282,927		 . 1,349,566
. . . .
. Debtors and debit balances: . .
84,377 (i) Battels 104,620 .
7,526 (ii) Rents 9,053 .
374,347(iii) Other 445,351 .
466,250 . . 559,024
. . . .
16,357 Income tax recoverable . 7,908
227,814 Stocks and stores . 223,948
217,533 Furniture and Equipment . 205,006
________..________
5,910,320 . . 8,621,179
. . . .
. LIABILITIES . .
34,716 Caution money 34,716 .
8,337 Bank overdraft 110,135 .
1,085,294 Loans 1,068,595 .
. Unexpended balances of grants for specific purposes . .
487,888 Other creditors and credit balances 470,014 .
530,941 . . 614,865
5,379,379 .. 8,006,314

Return to the File Index.

AUDITORS' CERTIFICATE

Report of the auditors to the Governing Body of St Edmund Hall

We have audited the Statement of Accounts on pages 2 to 11 which have been prepared in accordance with the provisions of Statute XII Section II clauses 1, 2 and 3 made under the Universities of Oxford and Cambridge Act 1923.

Respective responsibilities of the Governing Body of the College and Auditors

The Governing Body of the College is responsible for the preparation of the financial statements.
The University Statute requires the College to prepare financial statements for each financial year which:

(a) Give a true and fair view of:

(i) the income of the college from all sources, the expenditure of a revenue nature properly chargeable against such income, and the extent by which in total such income exceeded or fell short of such expenditure.

(ii) the allocation of the aforesaid income and expenditure as between:
A Endowment
B Education and research
C Internal
in accordance with the provisions of the statute, showing the resultant surplus or deficit in each case.

(iii) the nature and extent of all other changes in the balances of the funds, other than invested balances of capital and trust funds, administered by the college (provided that in relation to the revenue transactions of trust funds administered for purposes wholly external to the college it shall suffice to show only the amount by which the income exceeded or fell short of the expenditure)

(iv) the assets and liabilities by which the aforesaid balances were represented at the end of the financial year.

(b) Show the computation of the statutory endowment income and of the liability for, or as the case may be the exemption from, College contribution.

It is our responsibility to form an independent opinion as to whether the statements comply with these provisions and that statutory endowment income, and College contribution, have been correctly computed.

Basis of audit opinion

We conducted our audit in accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the preparation of the accounts, and whether the accounting policies adopted by the College have been consistently applied.\

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurances that the accounts are free from material misstatement, whether caused by fraud or other irregularity or error.

Opinion

In our opinion:

(i) The accounts comply with the provisions of Statute Title XII Section II made under the Universities of Oxford and Cambridge Act 1923 and

(ii) the statutory endowment income and the amount payable as College contribution have been correctly computed.

(iii) In all material respects, income received from the University of Oxford out of grants from the Higher Education Funding Council for England during the year ended 31 July 2002 has been applied for the purposes for which it was received.

Horwath Clark Whitehill
Chartered Accountants
Registered Auditors

3 December 2002

CLICK FOR:

THE TOP OF THIS FILE

THE NEXT COLLEGE ACCOUNT 2001/2 (ST HILDA'S)

THE LATEST ST EDMUND HALL ACCOUNTS 2005/6 PDF

(for intervening years, e-mail request to akme@btinternet.com)

THE COLLEGE'S OWN WEBSITE (EXITS WWW.AKME)

THE COLLEGE CALENDAR ENTRY (ST EDMUND HALL FELLOWS LIST ETC.)

THE OXBRIDGE COLLEGE ACCOUNTS INDEX AND OUP ACCOUNTS INDEX

THE SURPRISING TRUTH ABOUT OUP'S 'CHARITABLE STATUS'

MALCOLM vs. OXFORD INDEXES: I (1984-92) & II (2001-02)

THE HISTORY OF AKME AND OF THIS WEBSITE

THE AKME OXFORD CUTTINGS LIBRARY

THE AKME LITERARY LAW LIBRARY

AKME STUDENT LAW LIBRARY

ABOUT MAKING NAMES

ABOUT THE REMEDY

THE SITE INDEX

e-mail: akme@btinternet.com