Newbold College
(Trading as Newbold College of Higher Education)
Company No: 3143237
Reglstered Charlty No (England and Wales): 1052494
GOVERNORS, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2025

Newbold College
Contents
Page
Governors
Reference and administrative details of the Charity and advisers
Governors. report
Indopend8nt auditorfs r8POrt
8-11
Balance sheet
12
Statement of flnanclal actlvltles
13
Statement of cash flows
14
Notes to the financial statsments
15-28

Newbold College
Governors
For the year ended 31 December 2025
Daniel Duda
Eglan Brooks
Dan Serb
Stephen J. Currow
Robert Csizmadia
Nenad Jepuranovic
lan Sweeney
David Neal
Patrick Johnson
Rob De Raad
Kayle de Waal
Victor Marley
Kirk Thomas
Nina Kristel Helgesen Myrdal
lan Redfern
Dragan Grujici
Carsten Waern
Paul Thompson
Lorraine McDonald
Ingalill Gimbler Berglund
Natalie Henry
Ivan Urbane Browne
Steve Palmer
Chair
VI￿ Chair
Secretary
Secretary
Appointed 0110612025
Resigned 3110512025
Appointed 0110812025
Resigned 3110712025
Page". 1

Newbold College
Reference and administrative details of the charity and advisers
For the year ended 31 December 2025
Company number
3143237
Charity number
1052494
Bankers
HSBC Bank Ltd
Bracknell
Berks
RG12 1DN
Solicitors
Clifton Ingram LLP Solicitors
22-24 Broad Street
Wokingham
Berkshire
RG40 1 BA
Auditors
Moore Kingston Smith LLP
4 Victoria Square
Sl Albans
Herts
AL13TF
Registered Office
Sl Marks Road
Binfield
Bracknell
Berks
RG42 4AN
Page". 2

Newbold College
Governors, Report
For the year ended 31 December 2025
The Governors (who are also directors of the Charity for the purposes of the Companies Acll submit their
annual report and the audited financial statements of Newbold College of Higher Education (the
Company) for the year ended 31 December 2025. The Governors confirm that the annual report and
financial statements of the Company comply with current statutory requirements, the requirements of the
Company's governing document and the provisions of the Statement of Recommended Practice ISORPI
The FRS 102 Charities SORP, the Companies Act 2006 and Charities Act 2011.
STRUCTURE, GOVERNANCE AND MANAGEMENT
CONSTITUTION
The Company is r￿Istered as a charitsble company limited by guarantee and was sel up by a
Memorandum of Association on 03 January 1996, much later than its start in 1901 Ilhough with a
different namel as a higher education provider.
The Company's mission is lo foster a Chrisl<entered and diverse learning community that prepares
students for service in an ever-ehanging wodd. This includes, but is not limited lo, training pastors and
other professionals for employment by the Sevenlh-day Advenlisl Church in Europe.
The objectives of the Company are '
.to advance education in accordance with the tenets and doctrines
of the Seventh-day Adventist church by establishing and maintaining or assisting in the establishment and
maintenance of a College of Higher Education to provide training for the ministry, and to educate other
persons at first degree, postgraduate levels, and research.
METHOD OF APPOINTMENT OR ELECTION OF GOVERNORS
The members of the College have delegated the responsibility for Newbold College of Higher Education
to the Board of Governors. During the year under review, Governors came from within the British Isles
and a number of neighbouring nations, reflecting the diversity of the student body.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Board is a governing and policy-making body, which is responsible for formulating and adopting the
stffttegy for the College as well as selling key perfomance indicators IKPlsl. It is not responsible for the
day-lo-day running of the College. Its work is lo balan￿ the need of conformance li.e. Complian￿ with
legislation, regulation and codes of practice - both within the Church and academia) with performance
li.e. improving the performance of the organisation through strategy formulation and policy-makingl.
Scheduled meetings in 2025 were held in February, March, May, June, September and November.
The Trans-European Division ITEDI Executive Committee endorses the Board's appointment of the
Principal and this role is crilieal lo ensuring effective College governance. As the link between Board and
management, the Principal is responsible for ensuring that policies are implemented on a day-to-day
basis. The Principal communicates the strategy and KPIS to the College's Senior Leadership Team which
comprises the Chief Financial OffiTrr, the Academic Registrar, the Vice Principal Ilhe Vice-Principal
became Principal on 1 June 2025, and the Board decided not lo appoint another Vi￿-PrinCipal al the
momenll, and the Principal, and which is responsible for reporting back to the Board. His or her regular
reports should enable the Board lo monitor Organisalional performance.
Page.. 3

Newbold College
Governors. Report (continued)
For the year ended 31 December 2025
The Principal is the only employee of the College who is an ex officio member of the Board of Governors
and therefore has voice and vole al Board meetings with the exception of any agenda item which might
deal with his or her salary. Although the Principal is the link between Board and management, the Board is
responsible for good governance by ensuring that sound systems of risk management and robust internal
controls are in place throughout the College organisalions.
RELATED PARTY RELATIONSHIPS
The Company is controlled by the Trans-European Division of the General Conference of Sevenlh4ay
Advenlisls ITEDI. The TED supports the College with core funding and management consullalion.
RISK MANAGEMENT
The Governors have assessed all risks to which the College is exposed, both from internal and external
sources, and are satisfied that systems and procedures are in place lo mitigate the College's exposure lo
possible jeopardy.
OBJECTIVES AND ACTIVITIES
POLICIES AND OBJECTIVES
The main strategic priorities of Newbold College of Higher Education are to provide high-quality, creative
and challenging learning opportunities,. promote and mentor the spiritual growth of students and staff.,
nurture and support students throughout their leaming experienTr,' and promote opportunities for service lo
meet the needs of others. Further, il is important lo the COll￿e that il fulfils the needs of the Sevenlh-day
Adventist Church in Europe for educated pastors and lay people. This is achieved by educational
experiences that enhance all aspects of sludenl life - the mental, physical, emotional, environmental and
spiritual. During the year ending 31 December 2025, the College offered a Certificate in Higher Education,
BA Hons degree in Biblical & Pastoral Studies., a Graduate Diploma in Biblical & Pastoral Studies., a
Graduate Diploma in Theology and Religion., an MA degree in Theology., a Postgraduate Certificate in
Mission,. a Poslgraduale Certificate in Youth Ministry,. as well as units in Clinical Pastoral Education.
STRATEGIES FOR ACHIEVING 08JECTIVES
The College aims to deliver educational eXperIen￿S of the highest quality and at the most manageable
costs possible. The Board of Governors and the Adminislralion of the College aclivety seek lo celebrate
diversity in its many forms, value each individual and ensure that each member of academic staff,
professional services staff, and the sludenl body find joy in their work and association together.
Our strategies include.. the development and maintenance of a five-year strategic and overarching whole-of-
college operational plan", the development and maintenance of action plans for the findings of the
University of Wales Trinity Saint David, the offi￿ for Students, the British Accreditation Council for
Independent Further and Higher Education and the Accrediting Association of Sevenlh-day Advenlisl
Schools, Colleges and Universities., ensuring suslainabilily in the College's academic programmes and
operations,. attracting and developing quality staff,. implementing a three-year budget framework and five-
year financial and capital plans., building robust inlemalional enrolmenls., developing property holdings lo
increase income., building commercially astute and profitable College businesses,. building productive
relationships with alumni and potential sponsors,. and applying understanding of and respect for cultural
differences in diverse environments.
Page.. 4

Newbold College
Governors. Report (continued)
For the year ended 31 December 2025
ACTIVITIES FOR ACHIEVING OBJECTIVES
During the year under review, the College was organised to accomplish ils objectives in the following
.Offer a range of programmes within the Centre for Ministry and Mission, all developed in response lo
market demands and within the mission of the College
.Organise academic curricula lo deliver a variety of quality programmes under the aegis of the
Academic Board, thereby maintaining the highest assurances of quality
.Regularly achieve accreditation and validation of all programmes within an appropriate higher
education context through UWTSD and through the Accrediting Association of Seventh4ay Adventist
Schools, Colleges and Universities
.Challenge students lo peak performance
.Maintain sludenl services with particular responsibility for the social, emotional and spiritual welfare of
all students- whether single, married, with or without children, residing on or off campus
.Develop balanced budgets and maintain limety and accurate financial reFX)rts with the goal of
ac￿Ptable levels of accounts receivable and payable., achieve reasonable reserves, nel worth and
liquidity and working capital," honour the intent of restricted endowed and special funds, give oversight
to inventories
.Conlinually cultivate associations wlh alumni and other prospective supporters so as to expand
support for maintenance of the College's goals- recruiting the highest quality stsff, educating
energised and insightful students who will be service-orienled, offering educational experiences in a
premier structural setting (buildings and classroomsl-
ACHIEVEMENTS AND PERFORMANCE
GOING CONCERN
After making appropriate enquiries, the Governors have a reasonable expectation that the company has
adequate resources to continue in operational existence for the foreseeable future. For this reason they
continue lo adopt the going concern basis in preparing the financial slalements. Further details regarding
the adoption of the going concern basis can be found in the Accounting Policies.
REVIEW OF ACTIVITIES
This report covers the period 01 January 2025 to 31 De￿mber 2025.
Newbold continues to deliver programmes offered by the Centre of Ministry and Mission. These include
the Certificate in Higher Education (Theology & Religion), Bachelor of Arts (Biblical and Pastoral
Sludiesl, Graduate Diploma in Biblical and Pastoml Studies, Graduate Diploma in Theology and
Religion,. the MA in Theology., the PG Certificate in Mission,. and the PG Certificate in Youth Ministry.
These programmes are validated by UWTSD. In addition, units in Clinical Pastoral Education,
accredited by the Association of Clinical Pastoral Educators, have been offered in partnership with
Advent Health, Huguley Heath Texas USA. The institution is also accredited by the Association of
Seventh4ay Adventist Schools, Colleges and Universities IAAAI. In September 2021, following
Newbold's submission of revised programmes. the UWTSD extended the validation of these
programmes for a further five years. The validation of the Institution by U￿SD was extended in
November 2022 for a further five years. In October 2024, AAA extended the institutional accredilalion for
another four years to coincide with the regular review by UWTSD.
During the year under review, the College have also been subject lo a BAC accreditation inspection
during the month of October with the outcome still pending. Moreover, the leadership have attended a
number of seminars and meetings organised by Office for Students and Independènt Higher Education
and ensured compliance with all requirements and legislation regarding the higher education sector.
Aso, the Sponsor License was extended for another twelve months.
During 2025, sludenl enrolmenl IEFSTLI has remained stable.
Furthermore, during 2025 the College received £28,557 in donations and legacies to support operations
and worthy-sludenl scholarships.
Page.. 5

Newbold College
Governors. Report (continued)
For the year ended 31 December 2025
FACTORS RELEVANT TO ACHIEVE OBJECTIVES
The important factors of Newbold's success are the professional success of ils graduates and positive word-of-
mouth comments by satisfied students and dedicated staff. The Government's restrictions on UK entry make it
increasingly challenging for students to obtain visas lo enter the country and study at Newbold College of
Higher Education. The restrictions which occurred at the end of 2020 because of the Brexit prO￿sS are under
constant review.
FINANCIAL REVIEW
RESERVES POUCY
The reserves policy of Newbold College of Higher Education is that a working capital of six months operating
expense. in addition lo allocated funds, be maintsined. This has been achieved in 2025.
The Charity had unrestricted reserves of £6,826,065 12024.. £6,712,458) and total reserves of £11,967,208
12024.. £11,906,803).
FUTURE FUNDING & FINANCIAL SUPPORT
The College relies upon ils owners, the Trans-European Division of the General Conference of Sevenlh-day
Adventists, to supplement ils income, just as most universities in the UK are reliant upon government support.
The aim, however. is lo grow much more financially self-sufficient through donations. endowments and creating
funding streams beyond that of tuition.
PLANS FOR THE FUTURE
FUTURE DEVELOPMENTS
The Governors intend lo continue meeting the Companls objectives by operating this College of Higher
Rigorous steps have been taken to improve cashflow and working capital lo ensure the sustainability of the
inslilulion.
The Strategic Planning Committee is also researching opportunities lo expand the curriculum offerings beyond
our core of Theological Education and to develop a digital platform.
Further upgrade of the physical plant and campus renewal initiatives have been priorilised which will be funded
through asset management and development. A Property Investment Committee has been established lo look
at the best possible use of other buildings and land. Discussions are continuing.
GOVERNORS, RESPONSIBILITIES STATEMENT
The Governors (who are also directors of Newbold College for the purposes of company lawl are responsible
for preparing the Governors, Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PracliTr.I
Company law requires the Governors lo prepare financial slalemenls for each financial year which give a true
and fair view of the slate of the affairs of the charitsble Company and of the incoming resources and application
of resources, including the income and expenditure, of the charitable company for that period. In preparing
these financial slatemenls. the Governors are required lo..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
Page.. 6

Newbold College
Statement of Governors, Responsibilities
For the year ended 31 December 2025
make judgements and estimates that are reasonable and prudent,
slate whether applicable UK Accounb'ng Standards have been followed, subject lo any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going Gon￿rn basis unless il is inappropriate to presume that
the charitable company will continue in business.
The Governors are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable company and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
The Governors are responsible for the maintenance and integrity of the corporate and financial information
included on the charitable company's website. Legislation in the United Kingdom governing the preparation
and dissemination of financial statements may differ from legislation in other jurisdicbons.
Statement of Dlsclosure to Audltors
So far as each of the Governors is aware at the time the report is approved..
there is no relevant audit information of which the companls auditors are unaware,. and
the Govemors have tsken all the steps that they ought to have tsken as directors in order lo make
themselves aware of any relevant audit information and to establish that the ¢ompanls auditors are
aware of that information.
Auditors reappointment
The auditors are deemed lo be reappointed under section 487121 of the Companies Act 2006 This report
was approved by the Governors on 17 May 2026 and signed on their behalf by..
Dale.17 May 2026
Daniel Duda. PhD
Chair ofthe Board of Govemors
Page.. 7

Newbold College
Independent Auditors. Report to the Governors of
Newbold College
Opinion
We have audited the financial statements of Newbold College Ithe company) for the year ended 31
December 2025 which comprise the Slalemenl of Financial Aclivilies, the Summary Income and
Expenditure Account, the Balance Sheet, the Cash Flow Statement and notes lo the financial
slalemenls, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including FRS 102 'The Financial Reporting Standard Applicable in the UK and Ireland, (United
Kingdom Generally Accepted Accounting Practicel.
In our opinion the financial statements".
give a ttue and fair view of the slate of the charitable company's affairs as al 31 December 2025
and of ils incoming reSoUr￿S and application of reSoUr￿s, including its income and expenditure,
for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practi￿ and
have been prepared in accordance with the requirements of the Companies Act 2006 and Charities
Ac12011.
Basls for Oplnlon
We conducted our audit in accordan￿ with International Standards on Auditing IUKI IISASIUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
Responsibilities for the audit of financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant lo our audit of the
financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is SLJfficienl and appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Iruslees, use of the going concern basis
of accounting in the preparation of the financial slalements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or colleclivety, may cast significant doubt on the charitable
company's ability lo continue as a going concern for a period of al least twelve months from when the
financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going con￿rn are described
in the relevant sections of this report.
Other Infomiatlon
The other information comprises the information included in the annual report, other than the financial
slalemenls and our auditor's report thereon. The trustees are responsible for the other infotmation. Our
opinion on the financial statements does not cover the other infotmation and, except lo the exlenl
otherwise explicitly slated in our report, we do not express any fonn of assurance conclusion Ihereon.
Page.. 8

Newbold College
Independent Auditors, Report to the Governors of
Newbold College
Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the audit
or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misslatemenls, we are required to determine whether there is a material misstatement in the
financial statements or a material misstatement of the other information. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we are required
to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing lo report in respect of the following matters where the Charities Act 2011 require us to
report to you if, in our opinion
the information given in the Trustees. Annual Report is inconsislenl in any material respect with
the financial statements., or
the charitable company has not kept proper and adequate accounting records., or
the financial statements are not in agreement with the accounting records and relums., or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set out on pages 6 and 7, the trustees
(who are also the directors of the charitable company for the purposes of company lawl are responsible
for the preparation of the financial statements and for being satisfied that they give a true and fair view,
and for such internal control as the Iruslees determine Is ne￿$Sary to enable the preparation of financial
ststemenls that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable
company's ability to continue as a going cOn￿M, disclosing, as applicable, mallers related to going
concern and using the going concern basis of accounting unless the trustees either intend lo liquidate
the charitable company or lo cease operations, or have no realistic alternative but lo do so.
Audltor's responslbllltles for the audlt of the flnanclal
The Iruslees have elected for the financial statements lo be audited in accordance wth the Charities Act
2011 rather than the Companies Act 2006. Accordingly we have been appointed as auditors under
section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154
of that Act.
Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an
audit conducted in accordance with ISAS IUKI will always detect a material misslatemenl when it exists.
Misstatements can arise from fraud or error and are considered material If, individually or in aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these financial stslements.
As part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintain
professional scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
delecling a material misstslement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Page.. 9

Newbold College
Independent Auditors. Report to the Governors of
Newbold College
Obtsin an understanding of internal control relevant to the audit in order lo design audit
Evaluate the appropriateness of accounting policies used and the reasonableness of a￿OUntIng
eslimales and related disclosures made by the Iruslees.
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting
and, based on the audit evidence obtsined, whether a material uncertainly exists rdaled to events
or conditions that may cast significant doubt on the charitable company's ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw attention
in our auditor's report lo the related disclosures in the financial slalemenls or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up lo the date of our auditor's report. However, future events or conditions may cause the
charitsble company lo cease lo continue as a going concern.
Evaluate the overall presentation, structure and content of the financial slalements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged wth governan￿ regarding, among other matters, the planned
scope and timing of the audit and significant audit findings. including any signifi'cant deficiencies in
internal control that we identify during our audit.
Explanation as to what extent the audit was considered capable of detecting irregularities,
Irregularities, including fraud, are instances of non-compliance wth laws and regulations. We design
procedures in line with our responsibilities, outlined above, lo detect material misslalemenls in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
includjng fraud is detailed below.
The objectives of our audit in respect of fraud, are., lo identify and assess the risks of material
misstatement of the financial statements due to fraud,. ID obtain sufficient appropriate audit evidence
regarding the assessed risks of material misstslemenl due to fraud, through designing and implementing
appropriate responses lo those assessed risks., and lo respond appropriately to instances of fraud or
suspected fraud identified during the audit. However. the primary responsibility for the prevention and
detection of fraud rests with both mansgement and those charged with governance of the charitable
company.
Our approach was as follows..
We obtained an undeislanding of the legal and regulatory requirements applicable to the
charitable company and considered that the most significant are the Companies Act 2006, the
Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the
Financial Reporting Council.
We obtained an understanding of how the charitable company complies wth these requirements
by discussions with management and those charged with governance.
We assessed the risk of material misststement of the financial statements, including the risk of
material misslalèment due to fraud and how il might occur, by holding discussions with
management and those charged with governance.
We inquired of management and those charged with governance as lo any known instsnces of
non-compliance or suspected non-compliance with laws and regulations.
Page." 10

Newbold College
Independent Auditors. Report to the Governors of
Newbold College
Based on this understanding, we designed specific appropriate audit procedures lo identify
instances of non-compliance with laws and regulations. This included making enquiries of
management and those charged with governance and obtsining additional corroborative
evidence.
There are inherent limitations in the audit PrO￿￿ureS described above. We are less likely lo become aware
of instances of non-compliance with laws and regulations that are not dosely related lo events and
transactions reflected in the financial stalemenls. Also, the risk of not delecling a material misslatemenl due
to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate
concealment by, for example, forgery or intentional misrepresentations, or through collusion.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 8 of the
Charities Act 2011. Our audit work has been undertaken so that we might slate to the company's members
those matters we are required lo slate to them in an audilorfs report and for no other purpose. To the fullest
extent permitted by law. we do not accept or assume responsibility to any party other than the Charity and
charity's Iruslees as a body, for our audit work, for this report, or for the opinion we have formed.
4 Victoria Square
st Albans
Herts
AL1 3TF
Roger Ogden. Senior Slalutory Auditor
for and on behalf of Moore Kingston Smith LLP, Slalulory Auditors
Date.. 26.05.2026
Moore Kingston Smith LLP is eligible lo act as auditor in terms of Section 1212 of the Companies Act 2006.
Page11

Newbold College
Balance sheet as at
31 December 2025
Notes
2025
2024
Fixed Assets
Tangible fixed assets
13
5,477,602
5,410,730
5,477,602
5,410,730
Current Assets
Stock and work in progress
Investments
Debtors
Cash at bank and in hand
13,198
8,140
248,842
6,974,328
528,471
12
14
6,853,297
778,288
7,644,783
7,759,781
Creditors.. Amounts falling due
within one year
15
459,272
478,393
Net Current Assets
7,185,511
7,281,388
Provision for liabilities
695,905
785,315
Net Assets
11,967,208
11,906,803
Funds
Endowment
Restricted
Unreslricled
17
17
17
2,781,400
2,359,743
6,826.065
2,780,775
2,413,570
6.712,458
11,967,208
11,906,803
The Governors consider that the company is entiUed to exemption from the requirement to have audit
under the provisions of section 477 of the Companies Act 20061, the ACV'I and members have not required
the company lo obtain an audit for the year in question in accordance with section 476 of the Act. However,
an audit is required in accordance with section 144 of the Charities Act 2011.
The Governors acknowledge their responsibilities for complying with the arrangements of the Companies
Act 2006 with respect to accounting records and the preparation of the financial slalements.
Approved and aulhorised for issue by the Board of Governors on 17 May 2026,
and signed on its behalf by".
Chair of the Board of Governors
Company number.. 3143237
Charity number.. 1052494
Dr Dan Gheorghe Serb
Accountable OffI￿r
The notes on pages 15 to 28 form part of these accounts.
Page.. 12

>0
roo
(oo
(b tr-
Ucy C

Newbold College
Statement of Cash Flows
For the year ended 31 December 2025
2025
2024
Cash flows from operating activities
Nel (Expenditurell income for the year
Adjustments for:
Depreciation of tsngible fixed assets
Interest received
60,405
198,035
285,682
112,842}
282,842
113,0831
Changes in working capitsl..
Increase In debtors
Increaselldecreasel in creditors
Decreasellincreasel in stocks
121,031
1108,5311
15,0581
1190,6251
1136,4381
30,095
Nel cash lused inl I generated by operating activities
340,687
170,826
caShflov￿ from investing activities
Disposal I IPurchasel of Investments
Purchase of fixed assets
Interest received
Nel cash from investing activities
248,842
1352,5541
12,842
190,8701
12,5851
1146,8731
13,083
1136,1751
Change in cash and cash equivalents in the year
249,817
34,651
Cash and cash equivalents al beginning of year
528,471
493,820
778,288
528,471
Page.. 14

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
Accounting Policies
1.1 Basis of preparation
The financial ststemenls have been prepared in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021. The company is a public
benefit entity for the purposes of FRS 102 and a registered charity established as a company
limited by guarantee and therefore has also prepared its financial statements in accordance
with the Ststemenl of Recommended Practice applicable to charities preparing their accounts
in accordance wth the Financial Reporting Standard applicable in the UK and Republic of
Ireland (The FRS 102 Charities SORPI, the companies Act 2006 and Charities Act 2011.
1.2 Charity status
The charity is a company limited by guarantee. The members of the company are defined in
the Articles of Associations and include members of the Govemors named on page 1. In the
event of the charity being wound up, the liability in respect of the guarantee is limited lo £1 per
member of the charity.
1.3 Going concern
The Governors have assessed whether the use of going concern is appropriate and have
considered possible events or conditions that might cast significant doubl on the ability of the
charitable company lo continue as a going concern. The Governors have made this
assessment for a period of at least one year from the dale of the approval of these financial
statements. In particular, the Governors have considered the charitable company's forecasts
and projections and have taken account of pressures on fee income. After making enquiries,
the Govemors have concluded that there is a reasonable expectation that the charitable
company has adequate resources lo continue in operational existence for the foreseeable
future. The charitable company therefore continues to adopt the going concern basis in
preparing its financial statements.
1.4 Incoming resources
All income is recognised when there is entitlement lo the funds, the receipt is probable and
amount can be measured reliably.
Income by way of donations and gifts to the charity is included in full in the statement of
financial activities when received. Intsngible income is not included unless it represents goods
or services which would have otherwise been purchased.
Legacies are monitored from the ts'me of notification to their final receipt. They are only
Included in the financial statements when there Is sufficient evidence that the legacy will be
received and the value can be measured with sufficient reliability.
1.5 Fund accounting
Reslricled funds are those which are lo be used for the specified purposes as laid down by the
donor. Expenditure which meets these criteria is allocated to the appropriate fund.
Unrestricted funds are donations and other income re￿iVed or generated for the furtherance of
the objects of the charity without specified purposes and, therefore, are available as general
funds.
Endowment funds are income and expenditure relating to the land & buildings held for the
primary purpose of the Charity which include the Newbold College Campus, Lecture Halls,
Library, Administrative Buildings and Sludenl Halls of Residence.
Page.. 15

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
Accountlng Pollcles Icontlnued)
1.6 Grant-making policies
The Governors allocate grants in accordance with the objects sel out in the Memorandum and
Articles of Association of the charitable company, which are summarised In the Governors.
Annual Report.
1.7 Resources expended
Staff costs and overhead expenses are allocated lo activities on the basis of time spent on
those activities. Resources expended are included in the Statement of Financial Activities on an
accruals basis.
Governan￿ costs are those incurred in connection with adminislralion of the charitable
company and compliance with constitutional and statutory requirements.
All costs include value added lax where applicable.
1.8 Risk mitigation
The company's directors have given consideration lo the major risks lo which the charity is
exposed and established systems or procedures in order lo manage those risks.
1.9 Foreign Currency Translations
Transactions denominated in foreign currencies are translated into Sterling al the rate of
exchange ruling al the date of the transaction. Assets and liabilities in foreign currencies are
translated into Sterling at the rates of exchange rLJling at the end of the financial year. All
exchange dIfferen￿S are dealt with in the statement of financial activib'es.
1.10 Fixed assets
Depreciation is provided on tangible fixed assets in order to write off each asset over ils
expected eeonomic life. The rates of depreciation applied lo each elass of asset are".
Functional Land and Buildings
Office fixtures and equipment
Other Land and Buildings
1.3Q/o per annum cost basis
50/0 to 20Q/o per annum cost basis
1.30/0 per annum cost basis
Items of fumiture and equipment costing less than £1000 each are treated as an expense on
acquisition.
1.11 Classification of Land and Buildings
Functional Properties
Land and Buildings held for the primary purpose of the charity, the
Newbold College Campus, Lecture halls, Library, Administrative Buildings and Student Halls of
Residence, are considered lo be effectively endowment assets and are shown al cost less
attributable depreciation.
Other Properties - Land and Buildings not held for the primary purpose of the charity but held
by the charity for its own general purposes and not for their investment polenlial, comprise
mainly tenanted domestic dwellings .
Page.. 16

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
A¢¢ountlng Poll¢19$ Iconllnugdl
1.12 Pension costs
Following the closure of the Sevenlh-day Adventist Retirement plan in December 2013. pension
are now provided in terms of the national Aulo-Enrolmenl requirements and invested in a Group
Personal Pension Plan through Legal and General.
1.13 Stock
Stock is valued al the lower of cost and nel realisable value after making due allowance for
obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.
1.14 Operating leases
Rentals payable under operating leases are charged in the profit and loss account on a straight
line basis over the lease temi.
1.15 Financial Instruments
a. Cash and Cash equivalents this include cash al banks and in hand and short term deposits
with a malurily date of three months or less.
b. Debtors and creditors
Debtors and creditors receivable or payable within one year of
reporting date are carried at their transaction price. Debtors and creditors that are receivable or
payable in more than one year and not subject to a market rate of interest are measured at the
present value of the expected future receipts or payment discounted at a market rale of interest.
1.16 Critical accounting estimates and judgements
In the application of the Charity's accounting policies, the Governors are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that
are not readily apparent from other sources. The eslimales and associated assumptions are
based on historical experience and other factors that are considered to be relevant. Actual
results may differ from these eslimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo
accounting eslimales are recognised In the period In which the estimate is revised, if the revision
affects only that period, or in the period of the revision and future periods if the revision affects
both current and future periods.
The followng judgements and estimates have had the most significant effect on amounts
recognised in the financial slalemenls.
The Charity makes an estimate of the recoverable value of trade and other debtors. When
assessing impairment of trade and other debtors. the Govemors consider factors including the
current credit rating of the debtor, the ageing profile of debtors and historical experience.
The annual depreciation charge for fixed assets is sensitive lo Changes in the eslimaled useful
economic lives and residual values of the assets . The useful economic lives and residual values
are re-assessed annually. They are amended when necessary to refiecl current eslimales,
based on technological advancement, future Investment, economic utili5alion and the physical
condition of the assets. See note 14 for the carrying amount of the propety, plant and
equipment.
Page." 17

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
2 Income from donations and legacies
Unrestricted Restricted
Funds
Fund$
Endowment
Funds
Total
2025
2025
Operating grants from parent organisalion
Special grants from parent organisalion
618,831
850,000
1,468,831
27,282
100,000
718,831
850,000
1,568,831
28,557
100,000
1,275
Donations
1,496,113
101,275
1,597,388
Unrestricted Restricted
Funds
Funds
Endowment
Funds
Total
2024
2024
Operating grants from parent organisalion
Special grants from parent organisalion
750,000
704,585
1,454,585
31,029
750,000
704,585
1,454,585
33,621
Donations
2,592
1,485,614
2,592
1,488,206
3 Income from charitable activitiOS
UnrgStri¢tgd Restricted
Funds
Funds
Endowment
Funds
Total
2025
2025
Tuition Income
Accommodation and Lodging Income
Rental Income
Departmental Income
Other Income
666,160
666,160
1,482,972
146,989
155,180
1,482,972
146,989
155,180
2,451,3DO
2,451,300
Unrestricted Restricted
Funds
Funds
Endowment
Funds
Total
2024
2024
Tuition Income
Accommodation and Lodging Income
Rental Income
Departmental Income
Other Inwme
677,214
677,214
1,384,550
157,150
137,290
1,384,550
157,150
137,290
2,356,204
2,356,204
Page.. 18

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
Details of Grant and Fee Income
2025
2024
Fee Income for taught awardslexclusive of VATI
Fee Income for from non44ualifying courses lexclusive of VATI
662,380
3,780
636,996
40,218
Total Grant and f8
666,160
677,214
Income from Investments
un￿strICted
Funds
Restricted Endowment
Funds
Fund$
Total
2025
2025
Bank Interest
11,547
1,296
12,843
Unrostrictgd
Funds
Rastrictod
Funds
Endowment
Funds
Total
2024
2024
Bank Interest
11,721
1,362
13,083
Page.. 19

N•wbold Collègè
Notes to the Flnanclal Statements
For the year ended 31 December 2025
Expènditure On fki$in# fvnd$
Unrnslrktsd RéstrSct•d
Fund¥
Funds
Endowmont
Funds
Ttstrl
2025
UnrnBtrfct•d
Funds
Roslrktsd EndcwTr•nt
Funds
Fund¥
ToLI1
2024
AdVe￿￿1ThJ
Re¢rJiirneni
24.655
24.655
30.083
30.OB3
24.655
24.655
30.(￿3
30.OB3
7 ￿￿dit￿e￿￿ chanlabkacbvities
A¢ademlc
S•rYicqs
PrO￿rtY
Malntsnanc•
Support
Cost
Toial
2025
A¢ad*ml¢
Property
Malntqnan
Support
C05t
Totsi
2024
Salanes
Sotsal S¢uJrily
1,8￿.593
2Zg,B45
222,932
63.967
1￿,744
1.899.593
229.845
222.932
63.%7
1.708.564
174,576
205.626
56.252
85.897
1,708,564
174,57
205,626
56,252
85,697
173.6B7
OlhEf PEr￿￿￿eXpense
r(MY costs
Administra￿
Exchawa los$
156.61
156.6(
173.687
572.032
572.032
544.797
544.797
275,800
38.414
34,815
282,842
o[[￿
Departmental
sc•￿¥$hIp expenses
r8aatiDn
275,8fy)
52,379
52.379
38.414
34,815
285.682
285.682
282,842
2,W,4BD
498.9
3.926.099
827,539
484,36Z
3,581,130
Totsi
2024
Anatysis tytund.
2025
Unre5tnGtedfuThJ
3.697.395
125,923
102.781
126.705
EndDwmentfvnds
3.926.099
3.581.130
a O¢h¢rgxpendiwfg
UnrggtrKtsd R*Jirictod
Fund$
Fund$
Endowm*nt
Fund$
Totsl
2025
UnTBStrictsd
Fund$
RqgtrKt4d Endo¥vmont
Fund$
Fund$
Tvtsl
2024
Govem*¢e wsts Isee wie ioi
50,372
50.372
48,245
48,245
pd¢*. 20

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
9 Analysis of governance and support costs
General
Support
Governance
Total
2025
Total
2024
Board Expenditure
Audit
Exchange loss
Bad debts Expenses
Professional fees
Interest Expense
Other Administrative Expenses
Office Supplies & IT expense
Telephone and Postage
Equipment Maintenance
Scholarship Expenses
10,372
40,000
10,372
40,000
10,046
38,199
13,9881
139,169
6,137
15,290
49,190
7,639
249,288
36,180
13,9881
139,169
6,137
15,290
49,190
7,639
249,288
36,180
14,3701
150,560
6,441
20,849
19,844
8,672
247,343
34,815
498.905
50,372
549.277
532.399
10 Total Resources Expended
Summary by expenditure type
Staff
Costs
Other
Costs
Total
2025
Totsl
2024
Depreciation
Charitable activities
Costs of generating voluntary
income
2,352,370
1,288,047
285,682 3,926,099
3,581,130
24.655
50,372
24,655
50,372
30.083
48,245
Governance costs
2,352,370
1,363,074
285,682 4,001,126
3,659,458
Summary by fund type
Unrestricted Restricted
Funds
Funds
Endowment
Funds
Total
2025
2025
Charitable activities
Costs of generating voluntary
income
3,697,395
125,923
102,781
3,926,099
24,655
50,372
24,855
50,372
Governance costs
3,772,422
125,923
102,781 4,001,126
Support costs have been allocated on the basis of staff ty'mings incurred.
Page.. 21

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
10 Total Resources Expended Icontinuedl
Included within lolal expenditure".
2025
2024
Auditors, remuneration
Depre¢ialion of tangible fixed assets
40,000
285,682
38.199
282,842
11 Analysis of c08ts
Staff costs consist of..
2025
2024
Salaries
Social security costs
Pension costs
1,899,593
229,845
222,932
2,352,370
1,708.564
174,576
205,626
2,088.766
Head of Provlder 01
Head of provider (Jan - May 20251 current
Remuneialion
Severance Pay
Pension
Other
2025
2024
26,125
10,454
5,692
60,696
11,395
2,025
74,116
42,271
Head of Provider salary divided by median Salary
Head of provider total remuneration divided
median remuneration
0.95
1.91
1.14
2.00
Head of Provlder 2
Head of provider (June- Dec 20251
Remuneialion
Retirement Allowance
34,151
3,917
38,068
Head of Provider salary divided by median Salary
Head of provider total remuneration divided
median remuneration
1.13
1.26
The average number of employees during the year was 41 12024- 411.
Employee trustees received emoluments during the year amounting to £80,338 12024
£72,091)
The number of employees whose emoluments exceeded £60,000 was..
2025
2024
£60,000-£69,999
£7D,000479.999
£80,000-£89,999
£90,000-£99,999
£100,0004109,999
During the year expenses relating to attendance al trustee meetings was paid to one trustee
and amounted to £681 12024- £5361
Page." 22

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
12 Short-term Investments:
2025
2024
Market value as at 1 January
Interest re-invested
248,842
1248,8421
246,257
2,585
Market value at 31 December
248,842
Investments consist of the following".
Bank term deposits in excess of three months
248,842
13 Tangible Fixed Assets
Functional
Land and
Buildings
Other
Land and
Buildings
Fixtures and
Equipment
Total
Cost
At 31 December 2024
Additions
4,790,621
103,406
2,672,943
2,554,944
249,148
10,018,508
352,554
At 31 December 2025
4,894,027
2,672,943
2,804,092
10,371,062
Depreciation
At 31 December 2024
Charge for the period
2,139,520
102,781
986,649
39,300
1,481,609
143,601
4,607,778
285,682
At 31 December 2025
2,242,301
1,025,949
1,625,210
4,893,460
Net Book Value
At 31 December 2025
2.651,726
1,646,994
1,178,882
5,477,602
At 31 December 2024
2.651,101
1,686,294
1,073,335
5,410,730
Land and Buildings
Carrying Value
Newbold College carries the value of the land and buildings in these accounts in accordance with
their classification of the property,
Functional Pro
erties
Land and Buildings held for the primary purpose of the charity, the Newbold
College Campus, Lecture halls, Library, Adminislralive Buildings and Student Halls of Residence, are
considered lo be effectively endowed assets Isee Basis of Title, belowl, and are shown al cost less
attributable depreciation.
Page.. 23

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
13 Tangible Fixed Assets (Continued)
Other Pro
erties- Land and Buildings not held for the primary purpose of the charity bul held by the
charity for its own general purposes land not for their investment potentiall, comprising mainly tenanted
domestic dwellings. These properties were valued by Pennicott, Chartered Surveyors, in February 25,
2013 at market value as defined by the International Valuations Standards council IIVSCI and adopted
by the Royal Inslilulion of Chartered Surveyors IRICSI in RICS Valuation- Professional Standards
(Red Book, 8th Edition dated March 20121. This value was adopted al 01 January 2015 as the
historical cost. in accordance with FRS 102 as modified by the Charities SORP.
8asls of Tltle
Legal title to the land and buildings shown in the accounts is held by charib'es with compatible
objectives, Worfd-wide Advent Missions Ltd (registered Charity Number 2109551 and Seventh-day
Adventist Association Ltd (registered Charity Number 2097801. Tide is held in accordan￿ with
memoranda of understanding lagreemenll dated 7th March 2007 bett￿een Newbold College Ltd, and
the parent bodies of the lille holders, the Trans-European Division of Sevenlh-Day Advenlisls, and the
British Union Conference of Sevenlh-Day Adventists, respectively.
The agreement provides that the land and buildings would be for the use of Newbold College as long
as it exists and remains situated in the UK. Newbold College does not have the power lo encumber,
lease, or sell land and buildings, without the consent of the title holders, and their parent bodies.
These bodies have from time lo lime granted consent lo the College lo lease or sell land and propety
when il is considered in the best interest of the College's operations. If the operation of the College is
temiinaled the title holders and their parent bodies will determine the use of the sale of the land and
properties and the distribution of any Sale proceeds.
The agreement affirms the shared purpose of providing Christian education in general and the training
of ministerial personnel in particular and recognises the mutual benefits of the parties working together.
The Charities holding legal tide do not carry the Land and Buildings al any value in their accounts, and
the College is responsible for insurance, repair and maintenance of the land and buildings.
Legal Charge
By a charge dated 13th March 2009, some of the Functional Properties are held by the Sevenlh-day
Adventist Retirement Plan as security for all present and future obligations and liabilities of Newbold
College and others to make payments to the scheme. The participation of Newbold College in respect
of the scheme is disdosed in note 13. The charge provides that, in the event that the Plan Is wound up
and there is an associated deficit which is not otherwise met, the Plan Trustèes would have recourse to
the secured properties in satisfaction of such liabilities. Al the reporting date, the Plan is in a surplus
funding position on an ongoing basis. A project is currenlly underway lo secure members. benefits
through a buy-out with an extemal insurer. Based on information available at the date of approval of
this financial statements, the Trustees are not aware of any circumstantances that would give rise to a
material call on the security provided by the College's properties. The propety in question has not been
re-valued in these accounts bul is carried in accordance with the companies accounting policies al
£2,651,726 representing c05t less attributsble depreciation. The pioperty was professionally valued by
Chartered Surveyors Gerald Eve LLP on 11 March 2014 81 £11,300,000.
Page." 24

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
14 Debtors
2025
2024
Amounts due within one year:
Trade debtors
Amounts due from parent charity
Amounts due from other related charities
Amounts due from employee5
Prepaid expenses
Other debtors
53,298
6,489,619
107,610
3,143
137,560
62,067
79,457
6,588,520
117,801
1,770
124,535
62,245
6,853,297
6,974,328
15 Creditors
2025
2024
Amounts falllng due wlthln one year..
Trade creditors
Payments in advance by students
Amounts due to parent charity
Amounts due to other related entities
Amounts due to employees
Other tsxes and social se¢urily costs
Accrued expenses and deferred income
Other amounts payable
Agency and trust funds
51,827
100,749
35,996
130,076
47,381
3,617
14,801
97,707
109,765
33,425
40,188
63,775
89,523
80,681
38,154
459,272
478,393
16 Provl$lon$ for Llabllltles
202S
2024
Moor Close Section 106 agreement
Rates
695,905
695,500
89,815
695,905
785,315
Moor Close Section 106
A Section 106 agreement dated 14th August 2001 befvleen SevenllFday Advenlisl
Association Ltd and Bracknell Forest Borough Council created a potential liability relating to
the restoration and management of the Moor Close Grade 11 listed gardens. Ongoing
discussions with the CoLJncil resulted in an agreement in principle lo cap the College's
contribution towards the resloralion works at £700,000. Al the date of the approval of the
2025 financial slalements, the Council had signed the agreement reflecting this provision,
with formal exeuction pending. The Trustee consider it probable that expenditure will be
incurred and that the costs will approximate the agreed cap based on professional advi
received. Accordingly, a provision of £695,905 has been recognised In the 2025 financial
slalements. The remaining balance up lo the agreed cap will be provided for within the
College's 2026 budget. The College is in the process of developing a detailed programme of
works, with restoration expected to commence in summer 2026.
Page." 25

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
17 Funds analysi$
Balance at
1 January
2025
Balance at
31 D•comb8r
2025
Mov8mènt in Rèsourcas
Incoming
Outgoing
Transfors
Endowment funds
Scholarship endowment funds
Property endowment funds
129,674
2,651,101
129,674
2,651,726
1102,7811
103,406
Totsl endowment funds
2,780,775
1102,7811
103,406
2,781,400
R&stri¢ted funds
Scholarship
870.948
396,639
1,145,984
2,464
100,000
107
138,1801
144,1951
145,5481
837,232
408,025
1,114,487
144,4191
13,944
other Restricted Fund5
Total restricted funds
2,413,570
102,571
1125,9231
130,4751
2,359,743
un￿strICted funds
Designated funds
Property fvnds..
Land & building5
Plant & Equipment
Other designated funds
1,686,294
1,073,335
300.903
139,3001
1143,6011
16,8711
1,646,994
1,178,882
270,190
249,148
136,8441
13,002
3,060,533
13,002
1189,7731
212,304
3,096,067
General funds
General funds
3,651,926
3,945,958
13,582,649)
1285,2351
3,729,998
3,651,926
3,945,958
13,582,649)
1285,2351
3,729,998
Totsl unrestri¢ted funds
6,712.458
3.958,960
13,772,422)
172,9311
6.826,065
Total funds
11,906,803
4.061,531
14,001, 1261
11,967,208
Property endowment funds represent the functional properties of the charity, funded by sponsoring organisations
Isee note 131
Page.. 26

Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
18 Analysis of net assets between funds
Unrestricted
funds
2025
Restricted
funds
2025
Endowment
funds
2025
Total
funds
2025
Tangible fixed assets
Current assets
Creditors due within one year
2,825,876
5,155,366
1459,2721
2,651,726
129,674
5,477.602
7,644,783
1459,2721
2,359,743
Provision for liabilities
1695,9051
1695,9051
6,826,065
2,3S9,743
2,781,400
11,967,208
Unr9Strictgd
funds
2024
Rostric19d
funds
2024
Endowment
funds
2024
Totsl
funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
2,759,629
5,216,537
1478,3931
2,651,101
129,674
5,410,730
7,759.781
1478,3931
2,413,570
Provision for liabilities
1785.315)
1785.3151
6,712,458
2,413,570
2,780,775
11.906.803
19 Pension Commitments
From 1 sl January 2014, Contributions have been made under the Aulo-Enrolmenl Complian￿ legislation
by the employer lo a Defined Contribution plan invested wth the Legal and General Insurance company .
The Charity contribution is restricted lo the contributions disclosed in note 11. There were no outstanding
contributions at the year end. The costs of the defined contribution scheme are included within charitable
activities fundraising costs and charged to the unreslricled funds of the Charity on the basis of the
employees employed under each of those activities.
Newbold College also participates in a group defined contribution pension scheme and in several foreign
pension schemes in respect of ils foreign domiciled employees. The company'5 liability in respect of the
foreign pension schemes is limited lo the contributions assessed by these pension schemes. They are
therefore accounted for as defined contribution schemes in these accounts. Contributions payable
during the year amounted lo £13,49612024". £25,530).
The Charity previously participated in a defined benefit pension scheme of the British Union Conference
of Seventh Day Advenlisls. This scheme closed to service after 31 December 2013. Newbold College
does not contribute to the recovery of the deficit for the plan bul some of its functional properties are held
against it as disclosed in note 13.
20 Related Party Transactions
Transactions with Governors 8re disclosed in Note 11. The following are transactions with the connected
entities as describe in Notes 21 and 22.
Genoral
Conference
British Union
Conference
Total
2025
Totsl
2024
Operating grants received
Special grants received
718,831
850,000
718,831
850,000
750,000
704.585
Amounts due to charity < 1 year
6,489,619
66.373
6.555.992
6.588.520
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Newbold College
Notes to the Financial Statements
For the year ended 31 December 2025
21 Controlling Party
The charity is controlled by the General Conference of Seventh-day Adventists, the Trans-European
Division, 119 Sl Pelerfs Street, st Albans, Herts, AL1 3EY Isecrelary.. Robert Csizmadial, by virtue
of its executive committee forming the majority of the company's membership. The General
Conference of Sevenlh-day Adventists is a non-profit making organisation registered in the USA.
22 Other Connected Entities
World-wide Advent Missions Ltd la registered charitable company), 119 St Pelerfs Street, St
Albans, Herts, AL1 3EY, is the Iruslee corporation of the Trans-European Division, and holds title lo
part of the land and buildings occupied by the change.
British Union Conference of Seventh-day Adventists la registered charity), Slanborough Park,
Garston Watford, herts, WD25 gJZ, appoints the majority of the trustees of the group pension
scheme.
Seventh-day Adventist Association Ltd la registered charity), Slanborough Park, Garslon Wafford,
herts, WD25 gJZ,is the trustee corporation of the British Union Conference, and holds title lo part of
the land and buildings occupied by the change.
South England Conference of Seventh-day Advenlisls la registered charity), 25 St John's Road,
Wattord, Herts, WD17 1 PZ, is the local Conferen￿ of the Sevenlh-day Advenlisl churches in whose
geographical area the college is situated.
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