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





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|Risk Management||450,000|
|---|---|---|
|Accommodation|Strategy|250,000|
|Property Income|Strategy|500,000|
|Reserves Policy||1,200,000|
|Un-assigned<br>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<br>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||||||||||



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||||Notes|Unrestricted|Restricted|Endowment|2021|2020|
|---|---|---|---|---|---|---|---|---|
|Income and Endowments<br>from:|||||f|f|f|f|
|Donationsand<br>legacies|||2|96,056|||96,056|98,832|
|Charitable<br>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<br>on:|||||||||
|Raising funds:|||||||||
|Raising donations|and legacies|||1,809|||1,809|6,448|
|Investment<br>Management||Costs||15,891|||15,891|16,192|
|CharitableActivities:|||||||||
|Ministerial<br>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<br>training|||4|13,978|294||14,272|50,728|
|Total Charitable<br>Activities||||493,112|294||493,406|576,733|
|Total Expenditure||||510,812|294||511,106|599,373|
|Net gains/(losses)<br>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<br>gains/(losses)|||||||||
|Gain on revaluation<br>offixed assets||||||||1,150,000|
|Defined Benefit pension|schemes gain|||(9,562)|||(9,562)|9,738|
|Net movement<br>In funds||||284,905|10,348|1,552|296,805|831,618|
|Total funds brought<br>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<br>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<br>income|||||119,636|97,830|
||Sa Ieof Fixed Assets|||||||
||Sale/(purchase)<br>ofInvestments|||||215,891|36,192|
||Net cash provided<br>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<br>b/fwd||||C2|67,734|226,099|
|Cash at|Bank and in Hand<br>c/fwd|||||271,938|67,734|
|NOTE C1-Reconciliation ofnet income/(expenditure)|||to|net cash|flow from operating|activities||
|From Operations||||||||
||Net movement<br>in funds (SOFA)|||||296,805|831,618|
||Adjustments<br>for:|||||||
||Losses on Investments|||||(312,545)|176,841|
||Investment<br>Income|||||(119,636)|(97,830)|
||Gains on sale/revaluation|ofFixed Assets|||||(1,150,000)|
||Increasein<br>Debtors|||||14,228|(9,599)|
||Increase/(decrease)<br>in Creditors|||||(3,869)|(15,185)|
||Decrease in Pension Scheme Debt|||||(6,306)|(28,232)|
||Net cash provided<br>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|





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## 

|ations<br>and Leg|acie|s||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||General|Designated|Restricted|Endowment|Total 2021|2020|
||||||f|f|f|f|E|
|Voluntary<br>Income||||||||||
|Donations<br>and|Gift|Aid|—General|16,196||||16,196|15,394|
|Donations<br>and|Gift|Aid|—Designated||50|||50||
|Church Donations||||11313||||11313|11,050|
|Legacies|||||||||1,141|
|||||27,509|50|||27,559|27,585|
|Grants<br>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<br>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<br>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<br>resources|||||||9|(10)|





## 

|lysis of Ch|ar|itable<br>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<br>Fund||||||750|
|Ron Toop Fund||3,200|||3,200|8,885|
|Gwynfryn<br>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<br>employees'<br>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<br>Pensionable||Income increases|(CPI plus 1.0%pa)|3.20|
|Assumed<br>investment||returns|||
|—Pre-retirement||||2.95|
|—Post retirement||||1.70|
|Deferred<br>pension|increases||||
|- Pre April 2009||||3.20|
|—Post April 2009||||2.50|
|Pension increases||||2.70|



|he pension<br>contributions<br>paid by the Colleg|he pension<br>contributions<br>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<br>I iabi<br>Iity at year start|201,797|230,029|
|Minus deficiency contributions<br>paid|(17,707)|(23,083)|
|Interest cost (recognised<br>in SoFA)|4,589|4,589|
|Remaining<br>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<br>Valuation|(Shares and Cash invested) Reconciliation||||
|Carrying value (Market|Value) at beginning|ofyear|2,519,781|2,732,814|
|Management<br>Fees|||(15,891)|(16,192)|
|Net Cash added/(withdrawn)<br>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<br>are:|||||
|UK Fixed Interest|||147,238|181,858|
|Overseas Bonds|||75,483|87,702|
|UK Equities|||511,073|551,576|
|European<br>Equities|||124,101|114,486|
|North American<br>Equities|||558,084|437,274|
|Far East S.Australasian|Equities||203,471|168,882|
|Emerging<br>Markets|||56,453|19,770|
|International<br>Equities|||630,463|671,308|
|Property|||48,437|61,383|
|Alternative<br>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<br>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<br>Fees Payable|||10,997|11,929|
|Auditors<br>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<br>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<br>Funds||||||||
|---|---|---|---|---|---|---|---|
|||||Gains/||||
||2020|Income|Expenditure|losses||Transfers|2021|
||f||f||||E|
|Anderson<br>Pratten|3,424|481|||||3,905|
|Scholarship|17,603|87|||||17,690|
|Gwynfryn<br>Thomas|272||||||272|
|Terill Tercentenary|79,778|2,383|||7,691||89,852|
|Urban<br>Life|294||(294)|||||
|Nic Church|1,321||||||1321|
||102,692|2,951|(294)||7,691||113,040|
|Comparative<br>for previous||||||||
|year|2019<br>f|Income<br>f|Expenditure<br>f|Gains/|losses<br>E|transfers<br>f|2020<br>E|
|Restricted<br>Funds||||||||
|Anderson<br>Pratten|3,085|339|||||3,424|
|Scholarship|18,325|28|(750)||||17,603|
|Gwynfryn<br>Thomas|522||(250)||||272|
|Terill Tercentenary|82,077|1,682|||(3,981)||79,778|
|Urban<br>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<br>Prize|Trust|—Set up fallowing<br>a Letter of Concurrence|||||from the Charity Commission|||on 14|
|anuary 1999where the capital held|||||under|permanent<br>endowment<br>must remain<br>but the||||income can be spent on th|||
|riginal objects||ofthe Trust|which|were set out|||in an Indenture<br>dated 21 November<br>1903and are set out|||||in the|
|description|ofthe Anderson||Pratten||Prize Trust||Restricted|Fund<br>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<br>f|Designated<br>f|Restricted<br>f|Endowment||Total<br>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<br>and legacies|||||98,832|||98,832|
|Charitable<br>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<br>on:|||||||||
|Raising funds:|||||||||
|Raising donations||and legacies|||6,448|||6,448|
|Investment<br>Management|||Costs||16,192|||16,192|
|CharitableActivities;|||||||||
|Ministerial<br>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)<br>on Investments|||||(172,056)|(3,981)|(804)|(176,841)|
|Net Income / (Expenditure)<br>before||transfers|||(293,998)|(33,318)|(804)|(328,120)|
|Transfers between funds|||||||||
|Other recognised<br>gains/(losses)|||||||||
|Revaluation<br>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<br>forward<br>(restated)|||||4,452,901|136,008|12,327|4,601,236|
|Funds carried forward|||||5,318,641|102,690|11,523|5,432,854|