4
5
34
56 7
4
5
3
2
2
1
1
1
3
2
Income (£’000) Expenditure (£’000) School Expenditure (£’000)
1 Gross Charitable:
1 School (25,436)
2 Scholarships and bursaries (3,386)
3 Quiristers (208)
4 Ancient buildings and
collections (436)
On generating income:
5 Trading (407)
6 Investment management
and financing (846)
7 Development (894)
- Fundraising (510)
- Other activities (384) 1 Teaching
school fees and other school
income (27,222)
2 Trading and other income (714)
3 Investment and interest income (2,495)
Fundraising:
4 New endowment (2,679)
5 Other fundraising income (835)
(11,025)
(4,025)
3 Premises (7,811)
4 Support (1,967)
5 Other (608)
2 Welfare
objectives. Other fundraising and development
income, which is available for more immediate use,
increased by £150,000 to £835,000, in part because
of some initial receipts towards the Kingsgate Park
development.
Ignoring bursaries, total expenditure was 4.7%
higher at £28,227,000. This was planned and in line
with the College’s budget. In particular, more was
spent on the school’s buildings and facilities, through
a planned maintenance programme for our buildings,
and on IT, including upgrades to the existing
2017
2016
network and installation of campus wide Wi-Fi.
£’000 £’000
A
sharp eye is kept to ensure costs are controlled.
Income
Gross school fees
Other school income including
contributions towards bursaries 25,737 1,485 1,346
School income
Trading and other income
Investment income
Fundraising income
(excluding new endowment) 27,222
714
2,495 25,953
645
1,989
835 685
24,607
Capital expenditure in the year totalled £3.24m,
including £1.7m on Bramston’s boarding house
refurbishment and £1.3m on preparing for the
Kingsgate Park development. The College’s balance
sheet is strong and gives us confidence to proceed.
Current developments
31,266
29,272
Total income
The College’s statutory accounts give a fuller picture
Expenditure
and can be found on the College’s and Charity
Charitable:
Commission’s
websites. This year more than ever,
School
(25,436)
(24,138)
Scholarships and bursaries
(3,386)
(3,267)
the narrative sections highlight the good work our
Quiristers
(208)
(179)
staff and pupils undertake for the public benefit.
Ancient buildings and collections
(436)
(603)
Total charitable expenditure
(29,466)
Other:
On generating other income - Investment
management and financing
(2,147)
Total expenditure
(28,187)
(2,023)
(31,613) (30,210)
Net operating income
New endowment (347)
2,679 (938)
2,512
Net income 2,332 1,574
I commend them to you. Whichever version of
the numbers yo u choose, you will not find much in
the figures about the two things that have played a
large part in my thinking over the course of the year:
Barton Farm and the Kingsgate Park development.
With the former, the developer is busy building
and selling the first batch of houses. The proceeds
The Wykeham Journal 2017 11