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|---|---|---|---|
|Reference and administrative
details||||
|Report ofthe trustees|2|to|9|
|Report ofthe independent
auditors|10|to|12|
|Statement offinancial activities||13||
|Balance sheet||14||
|Cash flow statement||15||
|Notes to the cash flow statement||16||
|Notes to the flinancial statements|17|to|24|
|Detailed statement offinancial
activities|25|to|26|
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||fund|fund|funds|funds|
|||Notes|||8||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies|||20,311|734,733|755,044|277,669|
|Charitable
activities|||||||
|College operating
activities|||487,546||487,546|332,331|
|Other income|||2,579||2,579|~5005|
|Total|||510436|734733|1245169|615,005|
|EXPENDITURE ON|||||||
|Charitable
activities|||||||
|College operating
activities|||524,116|154,036|678,152|394,903|
|NET INCOME/(EXPENDITURE)
Transfers
between
funds||14|(13,680)
11,644|580,697
~11,644)|567,017|220,102|
|Net movement
in funds|||(2,036)|569,053|567,017|220,102|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought
forward|||119,512|1,372,692|1,492,204|1,272,102|
|TOTAL FUNDS CARRIED FORWARD|||117476|1941745|2059221|1492,204|
||BALANCE SHEET
31STDECEMBER 2022|||
|---|---|---|---|
|||2022|2021|
||Notes|||
|FIXEDASSETS||||
|Tangible assets|10|1,970,478|1,379,701|
|CURRENT ASSETS||||
|Debtors||180,334|122,501|
|Cash at bank||16 195|31,368|
|||196,529|153,869|
|CREDITORS||||
|Amounts
falling due within one year|12|(107,786)|(41,366)|
|NET CURRENT ASSETS||88,743|112,503|
|TOTAL ASSETS LESSCURRENT||||
|LIABILITIES||2,059,221|1,492,204|
|NET ASSETS||2,059221|1492204|
|FUNDS|14|||
|Unrestricted
funds||117,476|119,512|
|Restricted funds||1,941745|1372692|
|TOTAL FUNDS||2 059221|1,492,204|
##
||FOR|THE|YEAR ENDED 3|1STDECEMBER2022||
|---|---|---|---|---|---|
|||||2022|2021|
||||Notes|||
|Cash tlows from operating|activities|||||
|Cash generated
from operations||||~629 029|194,015|
|Net cash provided
by operating
activities||||629,029|194015|
|Cash flows from investing|activities|||||
|Purchase oftangible
fixed assets||||~644,202|195469|
|Net cash used in investing|activities|||~644202)|195469|
|Change
in cash and cash|equivalents|in||||
|the reporting
period||||(15,173)|(1,454)|
|Cash and cash equivalents|at the|||||
|beginning
ofthe reporting|period|||31,368|~32 822|
|Cash and cash equivalents|at the end|of||||
|the reporting
period||||16,195|31,368|
##
##
|||FORTHE YEAR ENDED 31STDECEMBER 20|FORTHE YEAR ENDED 31STDECEMBER 20|22|22|
|---|---|---|---|---|---|
|RECONCILIATION||OFNKT INCOME TO NKT CASH FLOW FROM||OPERATING ACTIVITIES||
|||||2022|2021|
||||||8|
|Net income for the|reporting||period (as per the Statement offinancial|||
|activities)||||567,017|220, 102|
|Adjustments
for:||||||
|Depreciation
charges||||53,425|38,785|
|Increase
in debtors||||(57,833)|(79,361)|
|Increase in creditors||||66,420|14,489|
|Net cash provided|by|operati|ons|629,029|194,015|
##
|ANALYSIS OF CHANGES IN NET|FUNDS|||
|---|---|---|---|
||At 1.1.22|Cash liow|At 31.12.22|
|||g|g|
|Net cash||||
|Cash at bank|31,368|15,173|16,195|
||31,368|(15,173)|16,195|
|Total|31368|~15,173|16,195|
##
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|||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|---|
||Small donations|||||||||3,168|180|
||Church ofPentecost -|||UK||||||601,876|277,489|
||International
Missions|||||||||150,000||
|||||||||||755,044|277,669|
||INCOME FROM||CHARITABLE ACTIVITIES|||||||||
|||||||||||2022|2021|
|||||||Activity||||||
||Academic income|||||College|operating|activities||295,508|237,035|
||Rental income|||||College|operating|activities||4,790|6,185|
||Students
accommodation||||rent|College|operating|activities||~187 248|89 111|
|||||||||||487 546|~332331|
|4.|CHARITABLE|ACTIVITIES COSTS||||||||||
||||||||||Direct|Support||
||||||||||Costs (see|costs (see||
||||||||||note 5)|note 6)|Totals|
||||||||||8|8||
||College operating||activities||||||674,052|4, 100|678 152|
|5.|DIRECT COSTS||OF|CHARITABLE ACTIVITIES||||||||
|||||||||||2022|2021|
|||||||||||8||
||Staffcosts|||||||||160,480|85,680|
||Communication|costs||||||||41,064|23,551|
||Freelance lecturers|||||||||12,347|18,575|
||Accreditation
and||course development||||fees|||58,119|22,765|
||Library costs|||||||||10,506|8,593|
||Travel and conferences|||||||||7,745|1,054|
||Catering|||||||||3,389|238|
||Office costs|||||||||1,435|4,724|
||Website and computer|||costs||||||2,963|718|
||Repairs Et maintenance|||||||||147,799|70,278|
||Council tax|||||||||3,765|38,526|
||Heat and light|||||||||27,096|19,743|
||Health and safety|||||||||15,460|9,300|
||Water charges|||||||||6,373|2,458|
||Subscription
and|licenses||||||||1,015|864|
||Rent other and caretaking||||||||||250|
||Bank charges|||||||||1,160|761|
||Insurance|||||||||17,678|14,238|
||Legal and professional|||expense||||||1,080|2,384|
||Training
and CPD|||||||||677|2,975|
||Bad debts|||||||||42,257||
||Advertising
and|marketing||||||||(1,006)|9,232|
||Student bursaries|||||||||9,596|3,500|
||Graduation
cost|||||||||668||
||Carried forward|||||||||571,666|340,407|
##
|DIRECT|COST|S OF|CHARITABLE ACTIVITIES - continued|||
|---|---|---|---|---|---|
|||||2022|2021|
|Brought|forward|||571,666|340,407|
|Student accommodation|||cost|48,960|10,211|
|Depreciation||||53,426|38,785|
|||||674,052|389,403|
|SUPPORT COSTS||||||
||||||Governance|
||||||costs|
|College operating||activities|||4 100|
|Support costs, included|||in the above, are as follows:|||
|||||2022|2021|
|||||College||
|||||operating|Total|
|||||activities|activities|
|||||g||
|Auditors'|remuneration|||4,100|3,600|
|Non-audit|Examination||||1,900|
|||||4 100|5,500|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||g|
|Auditors'|remuneration|||4,100|3,600|
|Depreciation||—owned|assets|53,425|~38 785|
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|Wages and salaries||||||135,180|74,661|
|Social security|costs|||||11,902|5,419|
|Other pension|costs|||||13,398|5,600|
|||||||160,480|85,680|
|The average monthly||number ofemployees||during the year was as follows;||||
|||||||2022|2021|
|Administration||||||3|2|
|Academic||||||3|3|
|No employees|received emoluments||in excess of660,000.|||||
|TANGIBLE|FIXED|ASSETS||||||
|||||Long|Plant and|Computer||
|||||leasehold|machinery|equipment|Totals|
|||||8||8|8|
|COST||||||||
|At 1st January|2022|||1,808,558|63,446|10,931|1,882,935|
|Additions||||644,202|||~644 202|
|At 31stDecember 2022||||2,452,760|63,446|~10931|~2527 137|
|DEPRECIATION||||||||
|At 1st January|2022|||466,120|32,742|4,372|503,234|
|Charge for year||||44,895|6,344|2,186|53,425|
|At 31stDecember 2022||||511 015|39,086|6,558|556,659|
|NET BOOK|VALUE|||||||
|At 3 1st December 2022||||1,941,745|24,360|4,373|1,970,478|
|At 31st December 2021||||3,342,430|30 704|6,339|7,379,703|
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||Trade debtors|||||159,485|122,501|
||Other debtors|||||20,849||
|||||||180,334|122501|
|12.|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE||YEAR||||
|||||||2022|2021|
||Trade creditors|||||54,184|12,878|
||Social security|and other taxes||||3,898|3,834|
||Accruals and deferred income|||||49,704|24,654|
|||||||107,786|41,366|
|13.|ANALYSIS OF NET ASSETS BETWEEN FUNDS|||||||
|||||||2022|2021|
||||Unrestricted|Restricted||Total|Total|
||||fund|fund||funds|funds|
||||||||8|
||Fixed assets||27,771|1,942,707||1,970,478|1,379,701|
||Current assets
Current
liabilities||196,529
~146.6247|~962)||196,529
~107786)|153,869
~41,366)|
||||117476|1,941745||2 659221|1,492,204|
|14.|MOVEMENT|IN FUNDS||||||
||||||Net|Transfers||
|||||movement||between|At|
||||At 1.1.22|in|funds|funds|31.12.22|
||Unrestricted
funds|||||||
||General fund||119,512|(13,680)||11,644|117,476|
||Restricted funds|||||||
||College activities||1,372,692|580,697||(11,644)|1,941,745|
||TOTAL FUNDS||1,492,204|567,017|||2,059,221|
##
##
||||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|---|
||||||resources|expended|in funds|
|Unrestricted||funds||||||
|General|fund||||510,436|(524,116)|(13,680)|
|Restricted
funds||||||||
|College|activities||||734,733|(154,036)|580,697|
|TOTAL|FUNDS||||I 245,166|~676,1521|567,617|
|Comparatives||for movement||in funds||||
|||||||Net||
|||||||movement|At|
||||||At 1.1.21|in funds|31.12.21|
||||||8|8||
|Unrestricted||funds||||||
|General|fund||||94,879|24,633|119,512|
|Restricted
funds||||||||
|College|activities||||1,177,223|195,469|1,372,692|
|TOTAL|FUNDS||||1,272, 102|220,102|1,492,204|
|Comparative||net movement|in|funds, included|in the above are as follows:|||
||||||Incoming|Resources|Movement|
||||||resources|expended|in funds|
||||||8||8|
|Unrestricted||funds||||||
|General|fund||||343,116|(318,483)|24,633|
|Restricted
funds||||||||
|College|activities||||271,889|(76,420)|195,469|
|TOTAL|FUNDS||||615,005|~394903)|220,102|
##
##
||||Net|Transfers||
|---|---|---|---|---|---|
||||movement|between|At|
|||At 1.1.21|in funds|funds|31.12.22|
|Unrestricted
funds||||||
|General|fund|94,879|10,953|11,644|117,476|
|Restricted
funds||||||
|College|activities|1,177,223|776,166|(11,644)|1,941,745|
|TOTAL|FUNDS|1,272 102|787 119||2,059,221|
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|Unrestricted
funds|||||
|General|fund|853,552|(842,599)|10,953|
|Restricted
funds|||||
|College|activities|1,006,622|(230,456)|776,166|
|TOTAL|FUNDS|1,060,174|~I,073,D55|707 11r|
##
##
##
##
##
##
||||FOR THK YEA|R ENDED 31STDEC|EMBER 2022|||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
|||||8||8||
|INCOME AND ENDOWMENTS||||||||
|Donations
and legacies||||||||
|Small donations||||3,168||3,168|180|
|Church ofPentecost -|UK|||17,143|584,733|601,876|277,489|
|International
Missions|||||150,000|150,000||
|||||20,311|734,733|755,044|277,669|
|Charitable
activities||||||||
|Academic income||||295,508||295,508|237,035|
|Rental income||||4,790||4,790|6,185|
|Students
accommodation||rent||187,248||187,248|89,111|
|||||487,546||487,546|332,331|
|Other income||||||||
|Sundry income||||2,579||2 579|5,005|
|Total incoming
resources||||510,436|734,733|1,245,169|615,005|
|EXPENDITURE||||||||
|Charitable
activities||||||||
|Wages||||95,160|40,020|135,180|74,661|
|Social security||||11,902||11,902|5,419|
|Pensions||||13,398||13,398|5,600|
|Communication
costs||||41,064||41,064|23,551|
|Freelance lecturers||||12,347||12,347|18,575|
|Accreditation
and course develo|||pment fees|58,119||58,119|22,765|
|Library costs||||10,506||10,506|8,593|
|Travel and conferences||||7,745||7,745|1,054|
|Catering||||3,389||3,389|238|
|Office costs||||1,435||1,435|4,724|
|Website and computer|costs|||2,963||2,963|718|
|Repairs &maintenance||||78,678|69,121|147,799|70,278|
|Council tax||||3,765||3,765|38,526|
|Heat and light||||27,096||27,096|19,743|
|Health
and safety||||15,460||15,460|9,300|
|Water charges||||6,373||6,373|2,458|
|Subscription
and licenses||||1,015||1,015|864|
|Rent other and caretaking|||||||250|
|Bank charges||||1,160||1,160|761|
|Insurance||||17,678||17,678|14,238|
|Legal and professional|expense|||1,080||1,080|2,384|
|Training
and CPD||||677||677|2,975|
|Bad debts||||42,257||42,257||
|Carried forward||||453,267|109,141|562,408|327,675|
##
|||||2022|2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||||||8|
|Charitable
activities||||||
|Brought forward||453,267|109,141|562,408|327,675|
|Advertising
and marketing||(1,006)||(1,006)|9,232|
|Student bursaries||9,596||9,596|3,500|
|Graduation
cost||668||668||
|Student accommodation|cost|48,960||48,960|10,211|
|Long leasehold|||44,895|44,895|30,254|
|Plant and machinery||6,345||6,345|6,345|
|Computer
equipment||2,186||2 186|2 186|
|||520,016|154,036|674,052|389,403|
|Support costs||||||
|Governance
costs||||||
|Auditors'
remuneration||4,100||4,100|3,600|
|Non-audit
Examination|||||1,900|
|||4,100||4,100|5,500|
|Total resources expended||524,116|154,036|678,152|~394903|
|Net income||~13680)|580,697|567,017|~220 102|