OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-06-30-accounts

ble of Contents
nual
Report for the Year to 30th		 June 2021
a. Reference and administrative details ofthe charity, its trustees and advisors 2
b. Structure,
Governance
and Management
c. Objectives and Activities
d. Achievements
and Performance
e. Financial
Review
f.
Plans for future periods		 10
g. Statement
ofTrustees'
responsibilities		 10
Independent
Auditor's
Report to the Trustees		 12
Statement of Financial Activities 15
Balance Sheet 16
Cashflow Statement 17
Accounting
Policies and Notes to		 the Financial Statements 18

Risk Management 450,000
Accommodation Strategy 250,000
Property Income Strategy 500,000
Reserves Policy 1,200,000
Un-assigned
free		 reserve 136,255
Free Reserves 1,336,255
s at 30"Jun e 2021the Colle ge held tota l res erves off5,729 erves off5,729 ,6 59 broken d own as follows: —
Reserves at at 30June 2021
Unrestricted Unrestricted
G I ~Di td ~ idtd Ed 1 Total 2020
E 6
General 4,386,255 4,386,255 4,059,243
Tyndale 1,029,446 1,029,446 1,029,446
Pension Debt 24,809 24,809 87,403
Gesture 2,088 2,088 2,170
Travel 7,363 7,363 7,363
Ron Toop 153,583 153,583 133,014
Anderson Pratten 3,905 3,905 3,424
Scholarship 17,690 17,690 17,603
Gwynfryn Thomas 272 272 272
Terill Tercentenary 89,852 89,852 79,778
Urban
Life		 294
Nic Church 1,321 1321 1321
Anderson Pratten 13,075 13,075 11,523
4,386,255 1,217,289 113,040 13,075 5,729,659 5,432,854
LESS:Tangible Fixed Assets (3,050,000)
Free Reserves 1,336,255

Notes Unrestricted Restricted Endowment 2021 2020
Income and Endowments
from:		 f f f f
Donationsand
legacies		 2 96,056 96,056 98,832
Charitable
activities		 3 289,048 289,048 251,344
Other trading activities 179 179 98
investments 3 116,685 2,951 119,636 97,830
Other (10)
Total Income 501,977 2,951 504,928 448,094
Expenditure
on:
Raising funds:
Raising donations and legacies 1,809 1,809 6,448
Investment
Management		 Costs 15,891 15,891 16,192
CharitableActivities:
Ministerial
Training		 4 247,532 247,532 280,431
Support Costs 4 187,921 187,921 193,429
Grants &Bursaries 5 43,681 43,681 52,145
Other Christian
training		 4 13,978 294 14,272 50,728
Total Charitable
Activities		 493,112 294 493,406 576,733
Total Expenditure 510,812 294 511,106 599,373
Net gains/(losses)
on Investments		 303,302 7,691 1,552 312,545 (176,841)
Net Income / (Expenditure) 294,467 10,348 1,552 306,367 (328,120)
Other recognised
gains/(losses)
Gain on revaluation
offixed assets		 1,150,000
Defined Benefit pension schemes gain (9,562) (9,562) 9,738
Net movement
In funds		 284,905 10,348 1,552 296,805 831,618
Total funds brought
forward		 5,318,639 102,692 11,523 5,432,854 4,601,236
Total funds carried forward 5,603,544 113,040 13,075 5,729(659 5,432,854
Balance Sheet as at Balance Sheet as at 30June 2021 30June 2021 30June 2021 30June 2021
2021 2020
Notes f 6
Fixed Assets
Freehold Property 3,050,000 3,050,000
Investments 2,616,435 2,519,781
Current Assets
Debtors 25,825 40,053
Short Term Deposits 252,235 59,766
Cash at Bank 19,703 7,968
Liabilities
Creditors: Falling due with one year 10 (39,048) (42,917)
Net Current Assets 258,715 64,870
Total Assets Less Current Liabilities 5,925,150 5,634,651
Liabilities
Creditors: Falling due after one year
Pension Deficit (195,491) (201,797)
Net Assets 5,729,659 5,432,854
Funds of College
Unrestricted
General 11 4,386,255 4,059,243
Designated 11 1,217,289 1,259,396
Restricted 12 113,040 102,692
Endowment 13 13,075 11,523
Total Funds 5,729,659 5,432,854
Cash f low Statement
for the Y		 ear ended 3 0J une 20 21
Notes 2021 2020
Cash flows from Operating Activities; f E
Net cash used in Operating Activities C1 (131,323) (292,387)
Cash flows from Investing Activities:
Investment
income		 119,636 97,830
Sa Ieof Fixed Assets
Sale/(purchase)
ofInvestments		 215,891 36,192
Net cash provided
by (used		 in) Investing Activities 335,527 134,022
Change in cash and cash equivalents 204,204 (158,365)
Cash at Bank and in Hand
b/fwd		 C2 67,734 226,099
Cash at Bank and in Hand
c/fwd		 271,938 67,734
NOTE C1-Reconciliation ofnet income/(expenditure) to net cash flow from operating activities
From Operations
Net movement
in funds (SOFA)		 296,805 831,618
Adjustments
for:
Losses on Investments (312,545) 176,841
Investment
Income		 (119,636) (97,830)
Gains on sale/revaluation ofFixed Assets (1,150,000)
Increasein
Debtors		 14,228 (9,599)
Increase/(decrease)
in Creditors		 (3,869) (15,185)
Decrease in Pension Scheme Debt (6,306) (28,232)
Net cash provided
by (used in) Operations		 (131,323) (292,387)
NOTE C2 -Analysis ofCash at Bank and in Hand
Short Term Deposits 59,766 202,304
Cash at Bank 7,968 23,795
Total Cash at Bank and in Hand b/fwd 67,734 226,099
Short Term Deposits 252,235 59,766
Cash at Bank 19,703 7,968
Total Cash at Bank and in Hand c/fwd 271,938 67,734

ations
and Leg		 acie s
General Designated Restricted Endowment Total 2021 2020
f f f f E
Voluntary
Income
Donations
and		 Gift Aid —General 16,196 16,196 15,394
Donations
and		 Gift Aid —Designated 50 50
Church Donations 11313 11313 11,050
Legacies 1,141
27,509 50 27,559 27,585
Grants
Received
Creed i rust 6,847 6,847 6,646
Bristol Baptist Fund 50,000 50,000 50,000
Baptist Union - Bursary Fund 11,650 11,650 14,301
Baptist Missionary Society 300
68,497 68,497 71,247
Total Donations and Legacies 96,006 50 96,056 98,832

er income Activities
General Designated Restricted Endowment Total 2021 2020
E E f E E f
Charitable
activities
Student Fees-Cogege 287,965 287,965 247,346
Urban Life(Restricted) 6,428
Uncollectible Fees 1,083 1,083 (2,430i
289,048 289,048 251,344
Other trading activities
Library 179 179
Investment
Income
Interest & Dividend-General 11'1,051 111,051 90,278
Interest & Dividend —Designated 5,634 5,634 5,504
Interest & Dividend -Restricted 2,951 2,951 2,048
Other
Other incoming
resources		 9 (10)

lysis of Ch ar itable
Activity Expenditu		 re
General Designated Restricted Endowment Total 2021 2020
6 E E E
~a
StaffCosts 176,575 176,575 196,508
Catering 2,379 2,379 21,787
Housing 6,370 6,370 4,522
Library 13,299 13,299 15,913
University Fees 39,296 39,296 17,829
Teaching Costs 1,363 1,363 1,592
Inspections 5,768 5,768 20,520
Sundry Casts-General 2,482 2,482 1,760
247,532 247,532 280,431
StaffCosts 93,562 93,562 95,506
ONce Costs 18,941 18,941 16,814
Premises 48,198 48,198 51,324
ITServices &. Equipment 13,951 13,951 14,935
Sundry Costs 7,477 7,477 9,126
Governance costs:
Auditors Fees 5,792 5,792 5,214
Trustee Expenses 510
187,921 187,921 193,429
~h»
Urban Life(Restricted) 294 294 36,813
Prepare For Service 13,141 13,141 13,172
Centre for Study ofBible &Violence 837 837 743
13,978 294 14,272 50,728

s & Bursaries
General Designated Restricted Endowment Total 2021 2020
E E E E E
General &College Bursaries 11,330 11,330 18,000
Brlstol Baptlst Fund 29,019 29,019 24,200
GestureFund 132 132 60
Scholarship
Fund		 750
Ron Toop Fund 3,200 3,200 8,885
Gwynfryn
Thomas Fund		 250
Total Grants & Bursaries 40,349 3,332 43,681 52,145
stees and Em ployees
2021 2020
f f
Salaries 217,744 234,306
National Insurance 15,387 16,288
Pension Contributions 22,282 23,106
255,413 273,700
The average number ofpersons
employed during the year was: 2021 2020
Headcount 10 10
FTE
No employees received emoluments in excess off60,000.
Key management
employees'
remuneration		 84,885 81,744
Ofthe above, the College Principal, Revd Dr
Stephen Finamore who is also atrustee, was
permitted by the Articles ofAssociation to
receive:
Salary 41,652 40,030
Pension 4,790 4,620
Housing 6,248 6,144
Total 52,690 50,794

Type of assumption Type of assumption %p.a.
RPI price inflation assumption 3.20
CPI price inflation assumption 2.70
Minimum
Pensionable		 Income increases (CPI plus 1.0%pa) 3.20
Assumed
investment		 returns
—Pre-retirement 2.95
—Post retirement 1.70
Deferred
pension		 increases
- Pre April 2009 3.20
—Post April 2009 2.50
Pension increases 2.70
he pension
contributions
paid by the Colleg		 he pension
contributions
paid by the Colleg		 e are set out in the tab le below.
Pension Contributions 2021 2020
6 f
BUPS —Standard contributions 13,332 13,942
BUPS —Deficit contributions 17,707 23,083
BUSPS —Standard contributions 8,949 9,164
39,988 46,189

Balance Sheet Liability Movements 2021 2020
6 f
Balance sheet
I iabi
Iity at year start		 201,797 230,029
Minus deficiency contributions
paid		 (17,707) (23,083)
Interest cost (recognised
in SoFA)		 4,589 4,589
Remaining
change to balance sheet liability*		 (9,738) (9,738)
Balance sheet liability at year end 178,941 201,797

Historic Cost 2019/20 2020/21
valuation valuation
Duncan House 746,952 2,350,000 2,350,000
48 Great Brockeridge, Westbury-on-Trym, Bristol, BS93TZ 457,000 700,000 700,000
1,203,952 3,050,000 3,050,000
B.investments
2021 2020
Investment
Valuation		 (Shares and Cash invested) Reconciliation
Carrying value (Market Value) at beginning ofyear 2,519,781 2,732,814
Management
Fees		 (15,891) (16,192)
Net Cash added/(withdrawn)
to/(from) Portfolio		 (200,000) (20,000)
Net Gains/(Losses) 312,545 (176,841)
Carrying Value (Market Value) at end ofyear 2,616,435 2,519,781
Investments
are:
UK Fixed Interest 147,238 181,858
Overseas Bonds 75,483 87,702
UK Equities 511,073 551,576
European
Equities		 124,101 114,486
North American
Equities		 558,084 437,274
Far East S.Australasian Equities 203,471 168,882
Emerging
Markets		 56,453 19,770
International
Equities		 630,463 671,308
Property 48,437 61,383
Alternative
Assets		 94,331 110,914
Other Investments 52,553 46,813
Cash 114,748 67,815
Total 2,616,435 2,519,781
9.Debtors
2021 2020
f E
Trade debtors: Student fees outstanding 16,257 18,129
P repayments
and accrued income		 9,568 21,924
25,825 40,053

10.Creditors: falling d ue within one year
2021 2020
f f
Trade Creditors: Student Fees paid in advance 3,615 2,472
Accrual sand deferred income:
Accrued Staff Costs 9,742 14,612
University
Fees Payable		 10,997 11,929
Auditors
Fees		 5,640 5,200
Other accruals 8,252 7,270
34,631 39,011
Other Creditors 802 1,434
39,048 42,917

11.Unrestr ic ted
Funds
Gains/
2020 Income Expenditure losses Transfers 2021
f f E
General 4,059,243 496,293 (507,480) 275,605 62,594 4,386,255
Designated:
Tynda le 1,029,446 1,029,446
Pension Debt 87,403 (62,594) 24,809
Gesture 2,170 50 (132) 2,088
Travel 7,363 7,363
Ron Too p Bursa ry 133,014 5,634 (3,200) 18,135 153,583
1,259,396 5,684 (3,332) 18,135 (62,594) 1,217,289
5,318,639 501,977 (510,812) 293,740 5,603,544
Comparative for previous Gains/
year 2019 Income Expenditure losses Transfers 2020
E f f
General 3,037,710 434,112 (552,615) 997,068 142,968 4,059,243
Designated:
Tynda le 1,029,446 1,029,446
Pension Debt 230,371 (142,968) 87,403
Gesture 2,230 (60) 2,170
Travel 7,363 7,363
Ron Toop Bursary 145,781 5,504 (8,885) (9,386) 133,014
1,415,191 5,504 (8,945) (9,386) (142,968) 1,259,396
4,452,901 439,616 (561,560) 987,682 5,318,639

2.Restricted
Funds
Gains/
2020 Income Expenditure losses Transfers 2021
f f E
Anderson
Pratten		 3,424 481 3,905
Scholarship 17,603 87 17,690
Gwynfryn
Thomas		 272 272
Terill Tercentenary 79,778 2,383 7,691 89,852
Urban
Life		 294 (294)
Nic Church 1,321 1321
102,692 2,951 (294) 7,691 113,040
Comparative
for previous
year 2019
f		 Income
f		 Expenditure
f		 Gains/ losses
E		 transfers
f		 2020
E
Restricted
Funds
Anderson
Pratten		 3,085 339 3,424
Scholarship 18,325 28 (750) 17,603
Gwynfryn
Thomas		 522 (250) 272
Terill Tercentenary 82,077 1,682 (3,981) 79,778
Urban
Life		 30,678 6,429 (36,813) 294
Nic Church 1,321 1321
136,008 8,478 (37,813) (3,981) 102,692

Gains/
2020 Income Expenditure losses Transfers 2021
f f f f f f
Anderson Pratten 11,523 1,552 13,075
Comparative for previous Gains/
year 2019 Income Expenditure losses Transfers 2020
f f f f f f
Anderson Pratten 12,327 (804) 11,523
The Anderson Pratten
Prize		 Trust —Set up fallowing
a Letter of Concurrence		 from the Charity Commission on 14
anuary 1999where the capital held under permanent
endowment
must remain
but the		 income can be spent on th
riginal objects ofthe Trust which were set out in an Indenture
dated 21 November
1903and are set out		 in the
description ofthe Anderson Pratten Prize Trust Restricted Fund
in Note 12.
14.Analysis of the Charity's net assets by Fund
General Designated Restricted Endowment Total
f E f
Property 3,050,000 3,050,000
Investments 1,357,717 1,181,258 64,385 13,075 2,616,435
Other net assets (21,462) 36,031 48,655 63,224
Total Net Assets 4,386,255 1,217,289 113,040 13,075 5,729,659
Comparative for previous year General
f		 Designated
f		 Restricted
f		 Endowment Total
E
Property 3,050,000 3,050,000
Investments 1,287,128 1,164,045 57,085 11,523 2,519,781
Other net assets (277,885) 95,351 45,607 (136,927)
Total Net Assets 4,059,243 1,259,396 102,692 11,523 5,432,854

Notes Unrestricted restricted Endowment 2020
Income and Endowmentsfrom: f f f
Donations
and legacies		 98,832 98,832
Charitable
activities		 244,916 6,428 251,344
Other trading activities 98 98
Investments 95,782 2,048 97,830
Other (10) (10)
Total Income 439,618 8,476 448,094
Expenditure
on:
Raising funds:
Raising donations and legacies 6,448 6,448
Investment
Management		 Costs 16,192 16,192
CharitableActivities;
Ministerial
Training		 280,431 280,431
Support Costs 193,429 193,429
Grants R.Bursaries 51,145 1,000 52,145
Other Christian training 13,915 36,813 50,728
Total CharitableActivities 538,920 37,813 576,733
Other Expenditure
Total Expenditure 561,560 37,813 599,373
Net gains/(losses)
on Investments		 (172,056) (3,981) (804) (176,841)
Net Income / (Expenditure)
before		 transfers (293,998) (33,318) (804) (328,120)
Transfers between funds
Other recognised
gains/(losses)
Revaluation
offixed assets		 1,150,000 1,150,000
Defined Benefit pension schemes (restated) 9,738 9,738
Net Income over expenditure 865,740 (33,318) (804) 831,618
Funds brought
forward
(restated)		 4,452,901 136,008 12,327 4,601,236
Funds carried forward 5,318,641 102,690 11,523 5,432,854