Trinity College, Oxford
Accounts for financial year ended 31st July 2002

CLICK FOR THE COLLEGE CALENDAR ENTRY (TRINITY FELLOWS LIST ETC.)
OR THE COLLEGE'S OWN WEBSITE (EXITS WWW.AKME)
OR THE LATEST TRINITY 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):
285 undergraduates, 102 postgraduates, 6 additional. Total=393. 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:..
1,388,857 Net income as shown in Statement III 1,384,114 .
35,489 Less: College contribution (Statement III) 34,721 .
1,353,368..1,349,393
. . . .
3,188,529 From fees, dues and charges (including room rents) 3,221,929 .
740,828 Less: Collected on behalf of the University 816,694 .
2,447,701..2,405,235
. From grants and donations: . .
30,000 From the University 10,000 .
. From other Oxford colleges . .
. From outside sources . .
. .. 10,000
. From other sources: . .
________ . . ________
3,831,069 Total income . 3,764,628
. . . .
. EXPENDITURE . .
. For the college's own purposes: . .
. Other than on premises: . .
1,457,775 (i) Education and Research (Statement IV) 1,505,577 .
1,329,049 (ii) Internal (Statement V) 1,296,743 .
911,444 On college premises (Statement III) 839,171 .
3,698,268 . . 3,641,491
. . . .
2,975 For other purposes, excluding college contribution (Statement III) . 1,145
________. .________
3,701,243 Total expenditure . 3,642,636
. . . .
. SURPLUS/(DEFICIT) FOR YEAR carried to Statement VI . .
. Trust funds of which, under the terms of trusts, there was: . .
107,308 (a) available for the college's general purposes . 88,749
. (b) carried forward for the trust purposes . .
________. .________
107,308 . . 88,749
. . . .
17,517 Reserves and special funds . .
5,001 Revenue account . 33,243
129,826 . . 121,992
. Attributable to: . .
601,695 Endowment (Statement III) 674,110 .
(423,187) Education and Research (Statement IV) (468,901) .
(48,682) Internal (Statement V) (83,217) .
129,826 . 121,992 .

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: . .
150,163 Agricultural land . 143,775
. Non-agricultural land . .
42,284 Let on terms that tenant not responsible for structural repairs . 59,490
148,500 Let on other terms . 148,500
8,601 Gross value for rating purposes of college houses outside
the curtilage occupied by the head, fellows or employees		 . 8,601
. Income from timber . .
9,427 Income from minerals and mineral rights . 268
1,186,704 Interest and dividends . 1,144,152
. Underwriting commissions . .
29 Copyright royalties . 17,397
. Other income: . .
25 Acknowledgements . 25
1,845 Contribution from Wroxton estates Ltd . 7,152
________..________
1,547,578 . . 1,529,360
. 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 . .
________..________
1,547,578 Total of gross income from endowments and other sources as shown in Statement III . 1,529,360
. . . .
. PERMISSIBLE DEDUCTIONS . .
. (a) Standard deductions: . .
37,541 In respect of the full amount of rents from agricultural land 143,775 @25% 35,944 .
16,914 In respect of the full amount of rents from non-agricultural land let on terms
that tenant not responsible for structural repairs		 59,490 @40% 23,796 .
15,710 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) 		157,101 @10% 15,710 .
59,427 In respect of the gross amount of interest and dividends l,151,304 @5% 57,565 .
.(b) In respect of leaseholds:. .
. (i) Rent payable . .
. (ii) Amortization of lease premium . .
. (c) Interest . .
. (d) Allowances for exceptional obligations . .
________ .________.
129,592 . . 133,015
l,417,986 STATUTORY ENDOWMENT INCOME . 1,396,345
. . . .
. CONTRIBUTION PAYABLE . .
. On 984,000 Nil .
. On 123,000 at 4.0% 4,920 .
. On 123,000 at 8.0% 9,840 .
. On 166,345 at 12.0% 19,961 .
. On 1,396,345 34,721 .

III. ENDOWMENT ACCOUNT

Return to the File Index.

2000-01 £ INCOME . 2001-02 £
1,547,578 Gross income from endowment and other sources as shown in Statement II . 1,529,360
. 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		 . .
________.. ________
1,547,578 . . 1,529,360
. Less: Expenses of obtaining that income: . .
6,272 Rent, rates, taxes and insurance (less commission) 6,528 .
. Provision for major repairs . .
2,042 Other repairs and maintenance 3,232 .
6,200 Amortization and depreciation 6,200 .
8,242 . 9,432 .
144,207 Agency, management and administration 129,286 .
. Donations and subscriptions in connection with estates . .
. Entertainment of tenants and others . .
. Other expenses: . .
________.________ .
158,721 . . 145,246
1,388,857 Net income as shown in Statement I . 1,384,114
. . . .
. AMOUNTS PAYABLE OUT OF ABOVE NET INCOME OTHERWISE
THAN FOR THE COLLEGE'S OWN PURPOSES		 . .
35,489 College contribution (Statement II) 34,721 .
. Donations and subscriptions: . .
100 (i) for University objects 100 .
. (ii) Other . .
. Livings . .
. Maintenance of schools . .
. Other: . .
________ . ________ .
2,975 . 2,975 .
38,464 . . 35,866
________ . . ________
1,350,393 Net income available for college's own purposes . 1,348,248
. Less: Amount of trust fund income transferred to Statement IV and V
equivalent to expenditure from trusts included in those Statements.		 . .
244,286 Statement IV 219,064 .
. Statement V . .
________.________.
244,286 . . 219,064
1,106,107 BALANCE AVAILABLE FOR THE COLLEGE'S OWN PURPOSES . 1,129,184
. . . .
. EXPENSES OF COLLEGE PREMISES AND AEDES ANNEXAE . .
. Repair and maintenance of fabric and exterior of buildings: . .
383,000 (i) Provision for major repairs 301,230 .
77,644 (ii) Other repairs and maintenance 301,230 .
62,000 (iii) Amortization and depreciation 62,000 .
________.________ .
522,644 . 458,492 .
55,982 Upkeep of gardens and grounds 68,409 .
578,626 . . 526,901
. All other building repairs and maintenance (including interior redecoration): . .
125,000 (i) Provision for major repairs 100,411 .
116,563 (ii) Other repairs and maintenance 142,893 .
31,200 Rent . .
11,005 Rates and taxes 11,943 .
49,050 Insurance (less commission) 57,023 .
332,818 . . 312,270
911,444.. 839,171
. Less: Contribution from Statements IV and V: . .
74,214 (i) For upkeep of fabric, gardens and grounds (based on standard formula) 71,827 .
332,818 (ii) For other expenses 312,270 .
407,032 . . 384,097
504,412 . . 455,074
. . . .
601,695 SURPLUS/(DEFICIT) . 674,110

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) . . .
839,908 208,016 (i) Consolidated 882,631 220,658 1,103,289
. . (ii) Tuition . . .
. . (iii) Dues and establishment charges . . .
. . (iv) Degree . . .
. . (v) Library . . .
. . (vi) Other . . .
________ ________ . ________________________
839,908 208,016. 882,631 220,658 1,103,289
. . . . . .
ALIGN=RIGHT>1,800 973,365 Charges for accommodation (including notional room rents), meals & service 1,800 863,443 865,243
. 304,046 Rents from furnished accommodation outside the college occupied by student members . 293,872 293,872
. 120,566 Sales from buttery and stores . 142,831 142,831
________ ________ . ________________________
887,483 *1,605,993 . 884,431 *1,520,8042,405,235
. . . . . .
244,286 . Amount of trust fund income available only for expenditure dealt with
in this account (transferred from Statement III)		 219,064 . 219,064
. . . . . .
. . Research grants: . . .
. . (i) From the University . . .
. . (ii) From other Oxford colleges . . .
. . (iii) From outside sources . . .
. . . . . .
. . Other Grants and contributions . . .
30,000 . (i) From the University 10,000 . .
. . (ii) From other Oxford colleges . . .
. . (iii) From outside sources . . .
30,000 . . 10,000 . .
. . Charges to other accounts: . . .
. . Statement III: Entertainment of tenants and others . . .
. 29,987 Statement IV: Common Table . 29,382 .
. 62,069 Statement IV: College hospitality . 65,364 .
. 87,056 . . 94,746 94,746
. . Other income: . . .
________ ________ . ________________________
1, 115,994 1,693,049 Total income 1,113,495 1,615,550 2,729,045
. . . . . .
..* NOTE: Charged to...
. 1,087,598 Members and employees of the college . 1,056,756 .
. . Other colleges . . .
. 518,395 Others (conferences etc.) . . 464,048
. ________ . . ________ .
. 1,605,993 . . 1,520,804 .
. . . . . .
..EXPENDITURE.. .
81,179 . Head of College 82,637 . 82,637
478,553 . Teaching fellows 454,025 . 454,025
94,959 . Other fellows 94,959 . 35,067
122,467 . Stipendiary lecturers 200,317 . 200,317
30,578 . Outside tuition payments 26,412 . 26,412
13,256 . Other tuition and research expenses (including research assistants) 9,856 . 9,856
24,987 . Common Table 29,382 . 29,382
104,269 . Library 61,064 . 61,064
. . Research studentships, scholarships, exhibitions, prizes, grants: . . .
. 22,724 (i) Provided from trust funds 34,369 . .
27,522 . (ii) Provided otherwise 32,191 . .
50,246 . . 66,560 . 66,560
. . . . . .
15,263 . Examiners and examination expenses (including fees
paid to the Oxford Colleges Admissions Office)		 15,467 . 15,467
4,605 . Chaplain and chapel services 3,010 . 3,010
62,069 . College hospitality 65,364 . 65,364
44,376 . Junior clubs 47,008 . 47,008
30 . Subscriptions and donations to the college's own academic objectives 460 . 460
. 275,804 Catering supplies consumed (less sale of waste). 280,025 280,025
. . Outside caterers' and other colleges' charges . . .
..Services:...
78,047 550,652 (i) Domestic staff 80,415 549,193 629,608
24,536 80,011 (ii) Heat, light, water 22,368 71,754 94,122
12,576 71,312 (iii) Laundry and cleaning 9,526 55,805 65,331
39,234 111,804 (iv) Repair, renewal, insurance (less commissions) and
depreciation of furniture and equipment		 48,539 132,579 181,118
154,393 813,779 . 160,848 809,331970,179
. .Administration: . . .
71,781 80,759 (i) College officers and others 98,297 45,895 144,192
115,439 196,999 (ii) Office and clerical staff 124,021 204,474 328,495
13,942 24,298 (iii) Office expenses 13,520 30,803 44,323
3,800 5,700 (iv) Legal and professional charges 3,800 5,700 9,500
________ ________ . ________ ________ ________
204,962 307,756 . 239,638 286,872 526,510
. . . . . .
8,740 13,551 Pensions paid to former members and employees of the college 5,199 6,646 11,845
. . Other expenses: . . .
. 5,215 Miscellaneous 3,263 8,615 11,878
________________. ________________________
1,457,775 1,416,105 . 1,505,577 1,391,489 2,897,066
..College premises:...
81,406 325,626 Contribution to Statement III for repair and maintenance, rent, rates, taxes, insurance 76,819 307,278 384,097
________ ________ . ________________________
1,539,181 l,741,731 . 1,582,396 l,698,767 3,281,163
. . . . . .
(423,187) (48,682) SURPLUS/(DEFICIT) (468,901) (83,217) (552,118)

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)		 51,297 3,977,619 34,608 909,200 570,266 5,542,990
ADD:......
Net proceeds of sale of estates . . . . . .
Net proceeds of sale and redemption of
securities of trust funds and capital account		 . 1,245,137 2,498,512 . . 3,743,649
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) . 88,749 . . 33,243 121,992
Internal transfers: . . . . . .
(i) As the result of charges made in arriving at amounts
of surplus/(deficit) of income for the year 		. . 68,200 406,185 . 474,385
(ii) Otherwise 6,213 . . 25,765 8,103 40,081
Other receipts: . . . . . .
Donations and Benefactions . 766,149 214,508 127,967 . 1,108,624
Other income . . . 44,338 . 44,338
Issue of Trust Fund shares . 292,266 . . . 292,266
Sale of milk quotas . . 11,209 . . 11,209
.________________ ________________________ ________
. 6,213 2,392,301 2,792,429 604,255 41,346 5,836,544
DEDUCT:... ...
Cost of purchase and improvement of estates . . 170,848 . . 170,848
Cost of purchase of securities for trust funds
and capital account		 . 2,678,135 5,373,985 . . 8,052,120
Cost of additions and improvements to college premises. . . . . .
Expenditure out of fund for major repairs to estates . . . . . .
Major repairs to fabric and exterior of buildings . . 587,043 . . 587,043
Other major repairs and maintenance
(including interior redecoration)		 . . . . . .
Internal transfers - amounts deducted otherwise than
in arriving at surplus/(deficit) of income for year		 . 31,978 . 8,103 . 40,081
Other payments: . . . . . .
Appeal Fund expenses . . . 96,974 . 96,974
Pension Fund payments . . . 13,416 . 13,416
Miscellaneous 5,466 8,037 . 9,299 . 22,802
Purchase of shares in Trust Pool . 292,266 . . . 292,266
.________________ ________________________ ________
. 3,010,416 3,010,416 6,131,870 127,792 . 9,275,550
. . . . . . .
BALANCES AT END OF YEAR
(excluding invested balances of trust
funds and capital accounts)		 52,044 3,359,504 (3,304,839) 1,385,663 611,612 2,103,984

VII. STATEMENT OF BALANCES

Return to the File Index.

2000-01 £ . . 2001-02 £
. Trust funds (excluding amounts invested) held and administered by the college: . .
51,297 (i) Only for purposes wholly outside the objects of the college 52,044 .
3,977,619 (ii) Wholly or partly for the benefit of the college 3,359,504 .
4,028,916 . . 3,411,548
. . . .
34,608 Capital account (excluding amount invested) . (3,304,839)
909,200 Reserves and special funds . 1,385,663
570,266 Revenue account . 611,612
5,542,990 . . 2,103,984
. . . .
. Represented by: . .
. ASSETS . .
1,440 Cash in hands of officers and servants 340 .
2,808,395 Balance with bankers . 1,404,489
2,685,813 Deposits other than with bankers . 662,004
. Investments (other than of trust funds and capital account)
NOTE: Market Value 902,192		 . .
. . . .
. Debtors and debit balances: . .
19,626 (i) Battels 35,701 .
. (ii) Rents ..
376,160(iii) Other 209,805 .
395,786 . . 245,506
. . . .
24,183 Income tax recoverable . .
97,174 Stocks and stores . 112,077
253,924 Furniture and Equipment . 245,464
________..________
6,266,715 . . 2,669,880
. . . .
. LIABILITIES . .
. Caution money . .
. Bank overdraft . .
. Loans . .
. Unexpended balances of grants for specific purposes . .
723,725 Other creditors and credit balances 565,896 .
723,725 . . 565,896
5,542,990 .. 2,103,984

Return to the File Index.

AUDITORS' CERTIFICATE

Report of the auditors to the Governing Body of Trinity College

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.

Critchleys
Chartered Accountants
Registered Auditors

18 November 2002

CLICK FOR:

THE TOP OF THIS FILE

THE NEXT COLLEGE ACCOUNT 2001/2 (UNIVERSITY COLLEGE)

THE LATEST TRINITY ACCOUNTS 2005/6 PDF

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

THE COLLEGE CALENDAR ENTRY (TRINITY FELLOWS LIST ETC.)

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

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