ANNUAL REPORT AND ACCOUNTS
for the year ended 30th June 2022
Charity Registration Number: 1102280
Company registered in England Number: 04279352
The Promenade, Clifton Down, Clifton, Bristol. BS8 3NJ
www.bristol-ba
tist.ac.uk
Telephone . 01179467050

Table of Contents
Annual Report for the Year to 30th June 2022
Reference and administrative details of the 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 of Trustees, responsibilities
10
Independent Auditor's Report to the Trustees
12
Statement of Financial Activities
16
Balance Sheet
17
Cashflow Statement
18
Accounting Policies and Notes to the Financial Statements
19

Annual Report of the Trustees for the Year to 30 June 2022
The trustees who are also director5 of the charity for the purposes of the Companies Act 20061 present their report
with the financial statements of the charity for the year erided 30 June 2022. The trustees have adopted the
provisions of the Statement of Recommended Practice ISORPI 'Accourbting and Reporting by Charities, IFRS102
SORPI.
a. Reference and administrative details of the charityi Its trustees and advisors
Charity Name..
Bristol Baptist College
charity Reg￿$tratIOn number..
1102280
Company registered in England number..
04279352
The charitable company was incorporated on 30 August 2001.
Registered Office..
The Promenade, Clifton Down, Clifton,
Bristol. BS8 3NJ
Website=
www.bristol-baptist.ac.uk
Directors and Trustees
The directors of the charitable company I'the Charity") are it5 trustees for the purpose of charity law and
throughout this report are collectively referred to as the trustees. The affairs of the Charity are adminlstered by the
board of trustees, known as the College Council.
Revd Ruth Bottoms
Co-opted Chair
Revd Dr Stephen Finamore
College Principal ex officio
Revd Gary Woodall
Wales and South Partnership nomination
Revd Andy Hughes
BUGB nomination
Revd David Ellis
HEBA nomination
Revd Shayla Waugh
College Community nomination
Revd Simon Jay
Co-opted
Mr Malcolm 8road MBE
Co-opted Treasurer (Chair of Finance Committee)
Revd Matthew Bradlev
Co-opted
Ms Dorette Morgan
Co-opted
Mr Mark Greenwood
BMS nomination
Mr Graham Lewis
Co-opted (Chair of Audit and Risk Committee)
Revd Dr Michael Peat
Co-opted (Chair of Ministries Committeel
Ms Rachel Stone
Co-opted - until Il, October 2021
Company Secretary
Revd Fran Brealey (until 31" December 20211
Ms Sophie Atkinson (From I" January 20221

Auditors
Joshua Kingston Bsc ACA, Burton Sweet Limited, The Clock Tower, 5 Farleigh
Court, Old Weston Road, Flax Bourton, Bristol BS48 IUR
Bankers
CAF Bank Ltd. 25 Kings Hill Avenue, West Malling, Kent. ME19 4J
Natwest Bank PLC, PO Box 188, 40 Queens Road, Clifton, Bristol. BS99 SAD
Solicitors
Kirby Sheppard, 49150 Queen Sqijare, Bristol. BSI 4LW
Investment Managers
Brewin Dolphin Limited, 2nd Floor, 5 Callaghan Square, Cardiff, CFIO 5BT
Strurture, Governance and Management
Governlng Document
Bristol Baptist College was established by a Trust Deed and founded in 1679. The College is now a company limited
by guarantee, as defined by the Companies Act 2006. The company is registered in England and Wales and is also
registered as a charlty- The charity is controlled by its governing documents, the Articles of Association. Following
review of governance, the Articles were revised and adopted on 30 April 2015 following an extraordinary general
meeting of the members of the company.
Recrultment and Appointment of Trustees
The affairs of the Charity are governed by a Board of Trustees who meet a5 the College Council and who are also the
directors of the company. Five of those are nominated by the organisations specified in the Articles of Association.
The College Principal is an ex-officlo appointment. In addition, there may be up to 11 co-opted trustees to
supplement the skills and experience of the College Council. Co-opted trustee5 shall be appointed to the Board by
resolution of the Board. The trustees may from time to time at their discretion determine any criteria for
appointment as a co-opted trustee. Nominated or co-opted trustees are appointed for three years and shall be
eligible for re-election by the trustees ft)r two further terms of three years.
The Treasurer and Company Secretary are appointed by the trustees at a Council Meeting and these appointmerkts
are reviewed anntjally.
Induction and Trainlng of Trustees
The induction of a new trustee is aimed at ensuring they understand the role of the Charity and the way in which
their skills and knowledEe are a key parl of ensuring their resporbsibilities and accountabilities are fairly discharged in
accordance with charity and company law and within the spirit of the Bapt15t movement of which the College is a
vital part. The College Council as managing trustees receive regular trustee training.
The College has adopted the Charity Governance Code for smaller charitie5 and follows the Code principles and
recommended practice for good governance. To ensure the governing body remains effective, the trustees have
been implementinE the recommendations of an external review to governance carried out in 2019-2020.
Organisational Structure
The day to day management of the Charity is overseen by the College Principal and the College Team. They meet
regularly to plan and review activities. Regular meetings are held by the Principal with the Chairman of the College
Council and with the Treasurer. The College Council meet5 four times a year.
During the year ending June 2022, the trustees held hybrid meetings with some attending in person and others
joining remotely via video conference call.

Public Benefit
The Trustees confirm they have complied with the duty in Section 17151 of the Charities Act 2011 to have due regard
to the Charity Commi55ion's general guidance on public benefit in exercising their powers and duties. They have
referred to this guidance when reviewine the College's aim5 and objectives and in planning its future activities.
Arrangements for Setting Pay and Remuneration
The College has a pay policy which aligrb5 Itself with the Baptist Union of Great Britain. In 2016 3 benchmarking
exercise was undertaken linking pay for all staff, including senior staff to the Baptist Union Home Mission Stipend.
Annual increases in pay follow the cost of living increases set by BUGB. Starting May 2022, the College Council
agreed to pay staff an extra 5% uplift payment for one year, in addition to the annual increase, to better reflect the
current cost of living.
Relationships between the Charity and Related Parties
The College is part of the wider Baptist family in England and Wales and ￿S a member of the Baptist Union of Great
Britain IBUGBI. The College receives bursary grants from BUGB'S Student Training Income Designated Fund See
Note 17. During the year the Treasurer was a director of the Baptist Insurance Company plc., Andy Hughes was the
Ministries Team Leader of BUGB and Shayla Waugh was a member of the Bapt15ts Together Council.
Regulatory Compliance and Overslght
The College is regulated by the Office for Students lots) and subject to quality inspections by Quality Assurance
Agency for Higher Education IQAAI and reporting to Higher Education Stat15tics Agency IHESAI. The College Manager
is responsible for ensuring compliance with regulatory conditions and reports to the Education Committee on these
matter5. As a result of being a registered higher education provider students can apply for student loans, of which
the College received £51,000 for undergraduates, tuition fee5 directly from the Student Loan Company. The College
is exempt from the Ofs requirement to have an Access and Participation Investment Plan.
c. Objectives and Activities
Objects ofthe Charity
The Articles of Association set out the principal object of the company..
To promote the religious education of persons (particularly but not exclusively those professing themselves to be
Baptists) to enable them to exercise their gifts with greater usefulness in Christian ministry.
Today the College articulates its aim in this way.. To share in the mission of God in the world through the formation
of competent, passionate, spirit-filled and evan8elical people for different forms of Christian ministry.
This aim is expressed in the College strategy document, and reflects the words of an eighteenth century College
Principal, Caleb Evans.
Activities
Today we offer education and training in four different areas-. ministerial formation, childien, youth and family
ministry, community learning and theological studies. The College offers a range of full and part-time, undergraduate
and p05tgraduate courses, validated by the Durham University and the University of Aberdeen. Research and study
centres in Anabaptist studies and the Bible and Violence have been based at the ColleEe during the year.
Our Saturday course Equipping Missionary Disciples is designed for church members and those wishing to
understand thelr faith better and so enhance their Christian discipleship. It is also accepted by Baptist Associations as
a qualification towards recognition as lay preacher5 and pastors. We contlnue to work in partnership with PFS
Exeter.

In setting our objectives and arranging our activities our Trustees have given careful consideration to the Charity
Commission's general guidance on public benefit and in particular to its supplementary guidance on fee charging.
Having regard to the public benefit guidance issued by the Charity Commission it is important to understand that
central to our Christian beliefs and mission is our convictlon that faith gives meaning to people's lives and
contributes to their well-being. It includes a vision for peace and harmony and encompasses morals, ethics and
values which serve the community at every level. Both during their training and when they complete their courses,
students contribute to the well-being of communities throughout the UK by their involvement in churches and
Christian and secular projects.
Although we have a scale of tuition fees, no one who has been accepted for Baptist ministerial training 15 denied
admission to the College on the grounds of inability to pay. For the last financial year unpaid fees amounted to
£24,200 although the College expects to receive most of these fees within 12 months. As the Financial Statements
illustrate, student fees contribute 53% of the total income and 51% towards the total charitable expenditure.
Grant Making Policy
The Trustees apply the funds of the College at their discretion and in accordance with the charitable purposes and
objectives of the charity. Each request or situation is considered on its own merits and grants awarded to students
who meet certain criteria, reviewed periodically by the College.
Achievements and Performance
Our Students
In the year under report, we had 29 students undertaking ministerial formation121 of whom were also studying for
aca(Jemic qualification, 4 of whom were based at the Exeter hub), 6 students studying on Children, Youth and Family
Courses, and 34 theology students at undergraduate and postgraduate level. We also supeNised the accreditation
studies of 24 Newly Accredited Ministers on behalf of the Baptist Union of Great Britain. 11 people studied on our
Equipping Missional Disciples course run from Bristol, and 6 people studied on our Disciple-makers course.
Our Strategv
The Trustees and senior staff continued to work to our strategic plan for 2019-2023, and we report the followin8
developments during 2021-22:
Ministerial Formt7tion
We continued to offer and develop initial and continuing formation for mlnisters wiihin Baptists Together, exploring
new ways to do this to meet the needs of a changing context in church and world. We launched a hub for Ministerial
Formation training in Exeter, with an initial cohort of 4 students. Feedback from the Exeter students on this year has
been posilive, and we are excited to continue to develop the hub to seNe the South West region.
The College is encouraged by growinE interest in ministerial formation from young adults who are considering
internshlps. Our Disciple-makers programme is one key approach for helping such students discern their callinE for
ministry.
The college launched our 'Continuing Ministerial Development, offering in January 20211 providing ongoing learning
opportunities for ministers, in partnership with 8aptists ToEether. Our CMD offering currently includes Reading
Groups, Mentoring, Sabbaticals, a Chaplaincy module, and the Centre for the Study of Bible and Violence
conferences.
Children, Youth and Familles
This year we have developed the tutorials for the CYF students to include 4-5 sessions on management. This means
we now have 9 hours of material that can be delivered online, covering topics not included in academic modules. We
have also written and delivered training on Trauma-lnformed Practice from a CYF ministry perspective, this was done
in partnership with IBTS. We have been able to charge for thi5 traininE along with some chaplaincy/mentoring
training that we are also delivering. We continue to build partnerships through the CYF Round Table.

Community Learning
We have been in conversations to see how the relationship with the PFS Exeter team can be developed. We conlinue
to promote the Equipping Missional Disciples course within the local Baptist Association, and continue to engage
with Baptist Training Partnership.
Theologlcolstudles
The college has launched an Online MA pathwèy focussed on Anabaptist studies. It Is hoped that this online pathway
will allow international students to Study these modules.
The College t75 t7 whole
This year we were able to attend Spring Harvest with a promotional stand in the marketplace, which we have
Committed to do for 3 years. Our application forms have been amended to ask students 'where did you hear about
us,, so after 3 years at Spring Harvest we will be able to analyse its effectivenes5 at increasing student recruitment.
College meetings and committee5 have taken place in a hybrid online/in person model throughout the year and
building repairs and maintenance have been ongoing.
Celebration and Commissioning for Christian Service
Otjr annual Valedictory service to celebrate with our leaving students took place on Saturday 11 June 2022.
Theological Studie5
I student completed the Foundation Award irb Theologyi Ministry and Mission
S students completed the Certificate in Theology, Ministry and Mission
I student complÈted the Graduate Diploma in Theology, Ministry and Mission
5 students completed the BA in Theology, Ministry and Mission
2 students completed the Postgraduate Certificate in Theology, Ministry and Mission
6 students completed the MA in Theology, Ministry and Mission
Ministeriol Form(rtion
We are delighted that 7 of our 8 leaving Baptist ministerial students have already settled this year.
The College, Students and Churches
Through our students we are connected with home and placement churches and other organisations. Each student
also has a circle of sUPPOrting friends and family. We value all these partnerships and connections enormously.
The Staff Team
Revd Stephen Finamore LLB, MA, DPhil, Principal and Tutor in Ministry and Biblical Studies
Revd Clare Hooper, BA, MA, Tutor in Children, Youth and Family Work
Revd Helen Paynter MA, MA, PhD, Coordinator of Theological Education and Tutor iri Biblical Studies and Languages,
Director of the Centre for the Study of Bible and Violence
Revd Fran Brealey BA, PGCE, MA, PGCert, College Manager until 31" December 2021
Pavla Slugenova BA, MEd, Administrator
Michael BreaSey BA, PGCert, MA, MA, Msc, PhD, Librarian
Heather Lidington, Receptionist
Sophie Atkinson BA, Administrator until 31" December 2021, then College Manager from I" January 2022
Abigail Reid Bsc, Administrator from 13, December 2021

Sam King BA, Tutor in Spirituality and College Chaplain
Revd Elearbor Moffatt, DipHE, BA, Coordinator and Tutor of Exeter Hub for Ministerial Formation
Revd Maki and Ruth Mi¢0, Coordinators and Tutors of Di5ciple-Makers
Revd Lindsay Caplen, Coordinator of Community Learning
Revd Tim Welch, BA, MTh, PGCE, PhD, Coordinator of Ministerial Formation and Tutor in Practical Theology
We continue to be grateful for the work of Paul Holland as Finance Officer, Gary Pros5er as IT consultant, and Maria
Alexander who is our cleaner.
We also thank all those who serve the college as Staff, officers, trustees, members of committees or in other ways as
voluntary helpers. We particularly wish to thank those who have chaired College committees this year, Ruth
Bottoms, Michael Peat, Malcolm Broad and Graham Lewis.
Our thanks also go to all those churches, individuals and organisations that support us finèncially, and to those
individuals who remembered the College in their wills. All thi5 Support Is a vital part of sustaining the life and work of
the College. Individuals and Churches may express their support of us by making one-off or regular donations.
Appropriate forms for individuals or Churches are available from the College.
Serving the Wider Church
In its principal work o* training and developing students to exercise their gifts in Christian ministry, the College is
serving the wider church. Those leaving the College will be seNinB in different parts of the UK, and in many different
contexts.
The College serves in other ways too. Members of staff have continued to make contributions to Christian
publications, have undertaken a hea￿V commitment to speaking at conferences, seminars, annual lectures and
workshops as well as preaching engagements. Many committees are supported or chaiied by College staff and the
work of the Baptist Union is supported in a wide variety of way5 through committee work or through specific input
to key issues.
e. Financial Review
Financial results
The 2021122 accounts reveal an overall operating loss before investment gains or losses of £19,797 which is slightly
more than the £6,178 in 2021122. The operating loss was also significantly better than the budgeted deficit of
£86,200 due mainly to increased income from an increase in student numbers and unanticipated grants and a
bursary fund donation.
The investment portfolio, with Brewin Dolphin, had a market value at the year-end of £2,333,191 compared with
£2,616,435 in 2020121 reflecting the reduction in the markets since the start of 2022. The investment portfolio Is
structured to provide a steady and pre-set income for up to five years ahead whilst the core objective over the long
term is achieve return of at least 4Yo. Income solely from the portfolio was £124,114 equal to 4.74% of the opening
valuation.
Costs continued to be well controlled but increased to £614,064 compared with £511,106 in the previous year as the
College recommenced its normal face-to-face activities after the lifting of Covid restrictions and con5lraints.
Whilst student number5 have increased this year the major risk and challenge to the future viability of the College
remains student numbers and the respective income they generate. Whilst the College is endeavouring to attract
more students each year, the trustees have a strategy to increase its available reserves from the sale of most of its

non-income earning residential properties and invest the proceeds with Brewin Dolphin in an attempt to drive up
investment income and close the deticit gap.
In addition, the trustees continue to actively engage with other options to reduce what has become a structural
deficit by reviewing its location current5y valued at E2,350,000- see Note 7.
Going Concern
The trustees remain confident that the charity is a going concern, because of its healthy reserves position to
withstand future deficits should student numbers decline. As a consequence, the trustees have asserted that the
statement regarding Accounting Convention on pase 19 remains unchanged.
Pensions
The College has over recent years been paying a deficit contribution to the Bapt15t Pension Defined Benelits Scheme
IBPSI, as one of cl,350 employers in the Scheme. The BPS releases individual debt figures for each employer in the
Scheme each month. The calculation is known as the 'Autom3ted Monthly Debt Estimate, IAMDEI. It's important to
state the figures released are the estimated buy out figure for each employer, not the actual buy out figure which
requires the Scheme's actuaries to formally calculate should any employer in the Scheme wish to buy out of the
Scheme. The AMDE for the College as at the 30th June 2022 was £61,400 compared to £220,300 the year before.
The Skjbstantial reduction has been brought about by Baptist denomination injecting £33.5m cash into the Scheme in
December 2018 to reduce the deficit and reduce the length of the recovery plan to 10 years. FRS102 doe5 not permit
U5 to recognise the £61,400 as a liability 35 the calculation is not based on an actual actuarial valuation. Instead, in
accordance with the FRS102 required treatment of multi-employer schemes of this type, a liability has been
recognised for the net present value of agreed deficit reduction payment5. This liability of £169,940 exceeds the
AMDE and 15 anticipated that it will be eliminated in 2022123 following the pension fund being covered by an
insurance policy that the Scheme trustees announced in August 2022.
Reserves Policy
The College has reviewed its reseryes policy having noted the latest available guidance from the Charity Commission.
The reserves policy is to hold £1.2M in free reserves and has been assessed taking into account the future strategy of
the College, the current structural budget delicit and rlsks associated with the ongoing College business. The
unrealised105ses made on unrealised investment assets of £267,427 has pushed the reserves to slightly below the
policy target of £1.2M with a shortfall of £94,092, but given this is based upon unreali5ed losses that may well
reverse as world market5 Stabilise the trustees do not consider that specific action is required to address the
sholtfall but rather continue to monitor the situation.
The £1.2M is reserved for three main areas as shown in the table for'.-
Risk Management
Accommodation Strategy
Property Income Strategy
Reserves Policv
Un-assigned free reserve
Free Reserves
450,000
250,000
500,000
1,200,000
194,0921
1,105,908

As at 30, June 2022 the College held total reserves of £5,690.606 broken down as follows:_
Reserves at at 30 June 2022
Unrestricted Unrestricted
General
Desi
nated
Restricted Endowmenl
Total
2021
General
CSBV
4,376,076
29,832
4,376,076
29,832
1,029,446
4,373,542
12,713
1,029,446
24,809
2,088
7,363
153,583
3,905
17,690
272
Tyndale
Pension Debt
Gesture
1,029,446
1,288
7,363
125,901
1,288
7,363
125,901
3,889
17,822
272
Travel
Ron Toop
Anderson Pratten
Scholarship
Gwynfryn Thomas
Teri11 Tercentenary
Nic Church
3,889
17,822
272
85,657
1,321
85,657
89,852
1,321
1,321
11,739
13,075
5,690,606 5,729,659
Anderson Pratten
11,739
11,739
4,405,908
13,300,000)
1,163,998
108,961
LESS.. Tangible Fixed Assets
Free Reserve5
1,105,908
Statement of Internal Controls 5ncluding Risk Management
The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error. The Audit committee of the College
has continued to function over the past 12 months to ensure that it adhere5 to its Terms of Reference.
The committee has met on a number of occasion5 over the period in question and has continued to be there as
review, audit and support function for the Finance Committee and the College as whole.
The committee has been integral in offering guidance and support to the Finance committee when making
Investment decisions and has challenged Iwhere necessary) the Investment Manager5 to ensure that the financial
needs of the College continue to be met.
The Charity maintains a risk register and the trustees review at least annually the major strategic, business and
operational risks which the Charity faces. The Risk register of the College has been reviewed, amended, and updated
las requiredl to ensure adhesion to the Terms and Conditions and also to ensure overall regulatory compliance of
the College with all relevant bodies.
The trustees have established systems and controls to mitigate against major risks to which the College is exposed.
Any activity with a high residual risk is monitored and appropriate action implemented to bring within acceptable
levels wherever possible.
We have identified 4 headline risks and appropriate mitigation mea5ures'.

l. We fail to recruit students and train ministers for the Baptist churches- mitigation measure to review publicity,
networking and consideration of new pathways.
2. We fail to be a registered higher educational institution - mitigation measure to increase resilience and decrease
dependence on single member of staff coupled with ongoing reviews and audit.
3. We cease to be a financial going concern - mitigation measures to review donations and legacy strategy, strict
cashflow monitoring and completion of buildings feasibility study.
4. We fail to comply with critical regijlatory. or legal duties- mitigation measure to review at least annually relevant
policies and procedures.
Internal Controls are set out in the College's Standing Financial Instructions and their Èffectiveness is reviewed
annually. No incidents of control weaknesses or fraud were identified in the reporting period.
Investment Policy
The investment objective of the College is to aim for a balance between capital growth and income yield with the
following targets'.-
Portfolio Growth- to outperform the Brewin Dolphin Linked Benchmark by at least 1% per arinum.
Income Yield- to achieve a minimum 4Yo income yield per annum.
The College contlnues operate within the revised ethical investment guideline5155ued in 2013 by the Baptist Union
of Great Britain. Brewin Dolphin, the appointed investment managers, operate under a discretionary management
contract and their performance is regularly reviewed by the College Finance Committee and by the College Council.
The investment portfolio is largely held in the Tyndale Furhd - Designated. Capital growth and income received is
allocated to the Tyndale, Ron Toop, Anderson Pratten and Terrill Tercentenary funds in proportion to their share of
the portfolio. The allocation for the Tyndale fund is available for and used in the General Fund of the charity.
f. Plans for Future Periods
In addition to achieving our normal charitable objectives, the following strategic goals have been adopted for the
next financial year..
l. Continue to implement the recommendations of the governance review
Develop ari online level 3 equivalent CYF course as a feeder into the Certificate course
3. Successfully recruit a new College Principal when Revd Dr Stephen Finamore retires
4. Continue to attend Spring Harvest for the next 2 years to promote the College
5. Complete all recommended building maintenance tasks identified in the Quinquennial Report
g. Statement of Trustees, Responsibilities
The trustees Iwho are also directors of Bristol Baptist College for the purposes of company lawl are responsible for
preparing the Trustees, Report (incorporating the strategic report and directors, report) and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards, including Financi31 Reporting Standard
102- The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted
Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair
view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company
for that period. In preparing these financial statements, the trustee5 are required to..
io

select suitable accounting policies and then apply them consistently..
observe the methods and principles in the Charities SORP-
make judgments and accounting estimates that are reasonable and prudent,.
state whether applicable UK Accounling Standards have been followed, subject to any material departures
disclosed and explained in the financial statements,.
and prepare the financial statements on the goinE concern basis unless it is inappropriate to presume that
the charitable company will continue in business.
The trustees are responsible for keeping adequate 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. In so far as the trustees are aware..
there 15 no relevant audit information of which the charitable company's auditors are unaware- and
the trustees have taken all steps that they ought to make themselves aware of that information.
The auditors, Burton Sweet Limited, Chartered Accountants and Business Advisers were appointed for the 2021-
2022 aLJdit at the AGM.
Signature and Declaration
We declare that the Trustees have approved the report above,. and have authorised us to sign it on behalf of the
board.
Revd Ruth Bottoms..... ...
Chair
Date..
Revd Dr Stephen Finamore ...
Principal
Date..
Ms Sophie Atkinson .....
Company Secretary
s...t./io /£
Date.. ..........
li

Independent auditor's report to the members of Bristol Baptist College
Opinion
We have audited the financial statements of Bristol Baptist Colle8e Ithe 'Charity"I for the year ended 30 June 2022
which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the
financial statements, including a summary of significant accounting policies. The financial reportlng framework that
ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
KinEdom Generally Accepted Accounting Practice).
This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those
matters we are required to state in them in an auditorfs report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the Charitws members as a bodv,
for our audit work, for this report, or for the opinions we have formed.
In our opinion, the financial statements-.
give a true and fair view of the state of the Charity's affairs as at 30 June 2022 and of its income and
eypenditure for the year then ended-
have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice,.
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted out audit in accordance with international Standards in Auditing IUKI IISAS IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the
financial statements section of our report. We are independent of the Charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical respor5sibllities in accordance with these requirements. We believe
that the audit evidence we have obtained 15 suff icient and appropriate to provide a basis for our opinion.
Concluslons relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
B35ed on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant Sections of ihis report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in
the annual report other than the financial statements and out auditor's report thereon. Our opinion on the finarkcial
statements does not cover the other information and, except to the extent otherwise explicitly stated in our report,
we do not express any form of assurance conclusion thereon.
12

In connection with our audit of the financial stalements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconslstent with the financial statement5 or our
knowledEe obtained in the audit or otherwise appears to be materially misstated. If we identify such material
incon51Stencies or apparent material mlsstatements, 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 mi55tatement of this other information, we are required to
report the fact.
We have nothing to report in thi5 regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the aiJdit-.
the information gtven in the trustees, report (incorporating the strategic report and the directors, reportl for
the financial year for which the financial statements are prepared is consistent with the financial 5tatements,'
and
the trustees, report lincorporating the strategic report and the director5, report) have been prepared in
accordance with applicable law requiremerbts.
Matters on whlch we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Comparkies Act 2006 requires
us to report to you if. in our opinion..
sufficient accounting records have not been kept;
the financial statements are not in agreement with the accounting records and returns,.
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not obtained all the information and explanations necessary for the purposes of our audit.
Responsibilitie5 of trustees
As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of
the financial statement5 and for being satisfied that they give a true and fair view, and for such internal control as
they determine 15 necessary to enable the preparatlon of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Chariws ability to continue as a
goinE concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the trustees either intend to liquidate the Charity or to cease operation5, or have no re81istl
alternative but to do so.
Auditor's responslbilities for the audit of the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial statements 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, but is not a guarantee that an audit conducted in accordance with
ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and
are considered material if, individually or in the aggregate, they could reasonaljly be expected to influence the
economic decisions of users taken on the basis of these financial statements.
13

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatement5 in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
rhe extent to whlch the audit wus considered capable of detecting irregularities includlngfraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was a5 follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the Charity through discussions with directors and other
management, and from our knowledge and experience of the sector-
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements of the operations of the company, including the Companles Act 2006, taxation
legislation and data protection, anti-bribery, employment, environmental and health and safety legislation:
we assessed the extent of compliance with the laws and regulations identified above throu8h making
enquiries of management and inspectinE legal correspondence,. and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance through the audit.
We assessed the susceptihility of the charitable company's financial statements to material misstatement, including
obtaining an understanding of how fraud might occur, by..
makinE enquiries of management as to where they considered there was susceptibility to fraud, their
knowledEe of actual, suspected and alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations,. and
understanding the design of the company's remuneration policies.
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships,.
tested journal entries to identify unusual transactions,.
3sse55ed whether judgements and assumptions made in determining the accounting estimates set out in the
accounting policies were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularitie5 and non-compliance with law5 and reEulations, we designed procedures
which included, but were not limited to-
agreeing financial statement disclosures to underlyin8 supporting documentation.
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims,. and
reviewing correspondence with HMRC, relevant regulators and the company's legal advisor5.
There are inherent limitations in our audit procedures described above. The more removed that.laws and regulations
are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing
standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry
of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise dLJe to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
14

A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.or
sco
rivate.cfm This description forms part of our auditor's
report.
Joshua
ton, Bsc ACA (Senior Statutory Auditor)
For and on behalf of Burton Sweet Limited and Statutory Auditor
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 IUR
Date..
20LL
15

Statement of Financial Activities for the Year ended 30 June 2022 Ilncluding Income & Expenditure Account)
Notes Unrestrlcted Restricted Endowment
2022
2021
Income and Endowmentsfrom:
Donations and legacies
152.058
152,058
96,056
Charitable activiti
3 12,259
312,259
289.048
Other trading activities
798
798
179
Investment5
121,112
3,002
124,114
119,636
Other
1.926
1,926
Total Income
588,153
3,002
591,155
504,928
Expendlture on:
Raising funds:
Raising donations and legacies
Investment Management Cost5
2,427
15,817
2.427
15.817
1,809
15.891
Charitable Actlvitles..
Ministerial Training
Direct Costs
318,405
204,457
53,176
21,282
597.320
318,405
204,457
53,676
21.282
597,820
247.532
187,921
43,681
14,272
493,406
Support Costs
Grant5 & Bursarles
Other Christian tralnlng
Total CharitableActivities
50
500
Total Expenditure
615,564
soo
616,064
511,106
Net gain511105sesl on Investments
1259,5101
16.5811
11,3361 1267,4271
312,545
Net Income I (Expendlturel
1286.9211
14,0791
11,3361 1292.3361
306.367
Other recognlsed galnslllossesl
Gain on revaluation of fixed assEt5
Defined Benefit pension schemes gain
250,000
3,283
250,000
3.283
19,5621
Net movement in funds
133.6381
14,0791
11,3361
139.0531
296,805
Total funds brought forward
5.603.544
113,040
13,075
5,729,659
5,432,854
Total fund5 carrled forward
5,569,906
108,961
11,739
5,690,606
5,729,659
Income as defined by the Companies Act, and therefore excluding income from endowment funds, totalled £591,155
for the year12021-. £504,928). The notes on pages 19 to 31 form part of these financial statements
16

Balance Sheet as at 30 June 2022 Company number: 04279352
2022
2021
Note5
Fixed A55ets
Freehold Property
Investment5
3,300,000
2,333,191
3,050,000
2,616,435
Current Assets
Debtors
Short Term Deposlts
Cash at 8ank
29,827
228,386
15,978
25,825
252,235
19,703
Liabilities
Creditors: Falling due with one year
io
146,8361
139,0481
Net Current Asset5
227,355
258,715
Total Assets Les5 Current Liabilities
5,860,546
5,925,150
Liabilities
Creditors.. Falling due after one year
Pension Deflcit
1169,9401
5,690,606
{195,4911
5,729,659
Net Assets
Funds of College
U nrestricted
General
Designated
li
li
12
13
4,405,908
1,163,998
108,961
11,739
5,690,606
4,386,255
1,217,289
113,040
13,075
5,729,659
Restricted
Endowment
Total Funds
The notes on pages 19 to 31 form part of these flnancial statements. Company number.. 04279352. These financial
statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
relating to small charitable companies and with the Financial Reporting Standard 102, The financial statements were
approved by the Board of Trustees Icollege Council) on 311h October 2022 and were signed on its behalf by..
Revd Ruth Bottoms, Chalr.......
Revd Dr Stephen Finamore, Principal
Malcolm Broad MBE, Treasurer .
17

Cash flow Statement for the Year ended 30 June 2022
Notes
2022
2021
Cash tlowsfrom Operating Activitie5:
Net cash used in Operating Activities
ci
1167,5051
1131,3231
Cash flowsfrom Investing Activities..
Investment Income
124,114
119,636
Sale of Fixed Assets
Investment Management Fees taken from portfolio
Cash withdrawn with/ladded tol Investment Portfolio
Net cash provided by lused inl Investing Activities
15,817
15,891
200,000
335,527
139,931
Change In cash and cash equivalents
127,5741
204.204
Cash at Bank and in Hand blfwd
C2
271.938
67,734
Cash at Bank and in Hand c/fwd
244,364
271.938
NOTE Cl- Reconciliation of net incomellexpendSturelto net cash flow from operating activltles
From Operations
Net movement in funds ISOFAI
Adjustments for..
LO￿e5 on Investments
139,0531
296,805
267,427
1124,1141
1250,0001
14,0021
7,788
125,5511
1312,5451
1119,6361
Investment Income
Gains on sale/revaluation of Fixed Assets
Increase in Debtors
14,228
13,8691
16,3061
Increaselldecreasel in Creditors
Decrease in Pension Scheme Debt
Net cash provided by lused inl Operations
1167,5051
1131.3231
NOTE C2-Analy5is of Cash at Bank and in Hand
Short Term Deposits
Cash at 8ank
Total Cash at Bank and in Hand b/fwd
252,235
19,703
271,938
59,766
7,968
67,734
Short Term Deposits
Cash at Bank
Total Cash at Bank and in Hand c/fwd
228,386
15,978
244.364
252,235
19,703
271,938
Cashflow Restrictions
Charity law prohibits the use of net cash Inflows on any endowed or other restricted fund to offset net cash on any
fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash
flows for the year.
The note5 on pages 19 to 31 form part of these financial statements.
18

Notes to the Financial Statements
l.Accounting Convention
The financial statements have been prepared in accordance with the historical cost convention (except for
investments which have been included at fair value and in accordance with the Statement of Recommended
Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Companies Act 2006 and UK
Generally Accepted Practice as it applies from l January 2019.
The Charity is a Public 8enefit Entity. The Trustees consider there to be no material uncertainties affecting the ability
of the charity to continue as a going concern considering the continued income the charity receives and the assets
the charity holds.
Income:
All income is included on the Statement of Financial Activities when the charity is legally entitled to the income and
the amount can be quantified with reasonable accuracv.
al Donations, legacies and grants receivable
These are accounted for as soon as their amount and receipt are probable. For unsolicited donations this is when
received. Legacy income will be applied for general purposes unless restricted for a particular purpose.
bl Other income
All other income is accounted for on an accruals basis.
Expenditure:
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost
related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to
activit5es on a basis conslstent with the use of resources.
al Grants and bursaries payable
Grants and bursaries are an expense to the Statement of Financial Activities in the year they are awarded.
bl Fundraising costs
These costs are incurred In 5eekin8 voluntary contrihutioris through publicising the work of the College. They
do not include an apportionment of salary or associated costs.
cl Governance costs
Governance costs are those costs associated with charity governance requirements and which relate to the
general running of the organisation and are included within Support Costs.
dl Support costs
Support costs include direct office costs and staff costs associated with providing administration service5 to
the College.
el Staff Pensions
The Colle8e is an employer participating in a pension scheme known as the BaptlSt Pension Scheme 1.the
Scheme'l. The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist
Pension Trust Limited). The Scheme is considered to be a multi-employer scheme as described in Section 28
19

of FRS102. This is because it 15 not possible to attribute the Scheme's assets and liabilities to specific
employers and means that the Scheme is accounted for as if it were a defined contribution scheme - see also
Note 6. The Principal and some members of the College staff are eligible to join the Scheme.
Fixed Assets and Depreciation
Property 15 initially recognised at cost and subsequently carried at valuation. To keep the carrying value of
the property held by the Charity within a material amount of the market value, as required by the SORP, the
Trustees have set a policy of revaluing the property every five years.
No depreciation is charged on freehold properties because the Trustees consider the annual review of
carrying values required by FRS102 will invariably increase each year. The expected useful economic life of
these asset5 is believed to be in excess of fifty years and annual reviews for indicators of impairment are
undertaken by the Trustees on these properties.
The building known as Duncan House (the College) was revalued in 2020 at £2,350,000.
The College policy is to revalue every five years and monitor and account for impairment in inteNening
vears. The remaining residential property at 48 Great Brockeridge, Westbury-on-Trym, Bristol. BS9 3fL was
professionally valued in June 2022 at £950,000 at estimated market value.
Othey capital expenditure
This is written off at the date of expenditure for items of value less than £1,000.
Investments
All quoted investments are stated at market value.
Restrlcted and Endowment funds
Restricted andlor endowment funds are accounted for in accordance with the particular terms of trust
arising from the express or implied wishes of donors. In so far a5 these are intended to be binding on the
Trustees. Where any such wishes are not intended to be legally binding, they are taken into account and
recognised in appropriately designated funds.
Unrestricted funds
Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for
a specific purpose.
Current assets and Ilabilities
Debtors are recognised when students are invoiced for their fees and reduce as and when payments and
bursaries are made and exclude account5 in credit. Debtors also include prepaid expenditure or accrued
income. Creditors are recognised for expenditure incurred but not yet paid and student fee accounts in
credit. Cash is recognised at the date it IS Posted on the bank or credit card Statements or petty cash book.
Foreign exchange
Transactions denominated in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of the transaction. Exchange differences arising in the ordinary course of business are included in
income or expenditure. Assets and liabilities denominated in foreign currencies are translated into sterling at
the exchange rates ruling at the balance sheet date.
20

2. Donations and Legaties
Generdl
DeslEnated Restrtcted Endowment Totsl 2022
2021
Voluntary Income
Donations and Gift Aid - General
Donations and Gift Aid- Designated
Church Donatlons
Legacie5
39.074
39,074
16.196
50
11.313
10,163
10,000
59.237
10,163
10,000
59,237
27,559
Grants Recelved
Creed Trust
Brlstol B3Ptist Fund
Baptist Union- 8ursary Fund
Various for CSBV purposes
7,055
50,546
18.800
16,420
92.821
7,055
50,546
18,800
16,420
92,821
6.847
50,000
11,650
68,497
Total DI￿?110n$ and Legacies
152,058
152,058
96,056
2021 Comparative incorne wa5 to the General Fund. except for the Designated tknnations and Gift Aid
3,Other Income Actlvities
General
Designated Restricted Endowment Total 2022
2021
Charltable actlvit1È5
Student Fees-Taught
Student Fee5- Research
Student Fee5-non-HEaward
237,550
42,833
31.876
312,259
237,550
42.833
31,876
312,259
208,977
48,576
31,495
289,048
othertradingactlvlties
Llbrary
798
798
179
Investment Income
Interest & Divldend-GeDeral
Interest & Dividend- Designated
Interest & Dividend- Restrlet
115.473
115,473
5,639
3,002
111.051
5.634
2,951
5,639
3.002
Other
Other incomingresources
1,926
1.926
21

4.Analysis of Charitable Activity Expenditure
2022
2021
Trainin
Staff Costs
Catering
Housing
Library
University Fees
Teaching Costs
Inspections
Sundry Cost5- General
199,808
34,853
5,021
16,724
51,021
3,045
5,176
2,757
318,405
176,575
2,379
6,370
13,299
39,296
1,363
5,768
2,482
247,532
Su
ort Costs
Staff Costs
Office Costs
102,484
16,987
60,459
16,244
1,963
93,562
18,941
48,198
13,951
7,477
Premises
IT Services & Equipment
Sundry Costs
Governance c05ts'.
Auditors Fees
5,500
820
5,792
Trustee Expenses
204,457
187,921
Other Christian Trainin
Urban Life IRe5trictedl
Prepare For Service
Centre for Study of Bible & Violence
Other
294
13,182
8,027
73
13,141
837
21,282
14,272
5.Grants & Bursaries
2022
2021
General & College Bursaries
Bristol Baptist Fund
Gesture Fund
Ron Toop Fund
Anderson Pratton Fund (Restricted)
Total Grants & Bursaries
6,345
29,027
11,330
29,019
132
17,804
500
3,200
53,676
43,681
All grants and bursaries were made to individual students.
22

6.Trustees and Employees
2022
2021
Salaries
National Insurance
220,102
14,772
22,560
257,434
217,744
15,387
22,282
255,413
Pension Contributions
The average number of persons
employed during the year was..
2022
2021
Headcount
io
FTE
No employee5 received emoluments in excess of £60,000.
Key management employee5, rem uneration
85,219
84,885
Of the above, the College Principal, Revd Dr
Stephen Finamore who is also a trustee, was
permitted by the Articles of Association to
receive-
Salary
Pension
41,723
4,810
6,364
52,897
41,652
4,790
6,248
52,690
Housing
Total
The ratio of the above salary and total remuneration to that of the median employee was 1.4 and 1.7
respectively.
Except for the College Principal, the Trustees and persons connected with them have nol received or obtained
any remuneration or other financial benefits for the period directly or indirectw from the funds of Bristol Baptist
College. Four Trustees received expenses of £535 for travelling costs during the year12021 .' No Trustees
tlaimed expensesl.
Pensions
Since January 2012, pension provision has been made through the Defined Contribution (DCI Plan within the
Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members,
Pensionable Income into individuèl pension account5. In addition, the etnployer pays a further 4% of
Pensionable Income lor 3Yo if the employer is in the segregated DC Section) to cover Death in Service Benefits,
administration cost5, and an associated insurance policy which provides income protection for Scheme
members in the event that they are unable to work due to long-term incapacity. This income protection policy
has been insured by the Baptist Union of Great Britain with Aviva. Members of the Basic Section pay reduced
contributions of 5Yo of Pensionable Income, and their employers also pay a total of 5%.
Benefits in respect of service prior to l January 2012 are provided through the Defined Benefit IDBI Plan within
the Scheme. The main benefits for pre-2012 service were a defined benefit pension of one eightieth of Final
Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect
of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously
23

known as the Baptist Ministers, Pension Fund, started in 1925, but was closed to future accrual of defined
benefits on 31 December 2011.
A formal valuation of the Defined Benefit IDBI Plan wa5 performed at 31 December 2019 by a professionallv
qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date
was £298 million.
The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £18 million
(equivalent to a past service funding level of 94%). As a result of the valuation, in addition to the contributions
to the DC Plan set out above, it was agreed that the standard rate of deficiency contributions from churches and
other employers involved in the DB Plan will remain at previously agreed levels, increasing each year in line with
increases in the Minimum Pensionable Income. The deficiency contributions are broadly based Dn 12% of
Pensionable Income / Minimum Pensionable Income, reflecting each employer's contributions in March 2015.
Some employers that were involved in the DB Plan for a short period pay lower contributions. The Trustee and
the Council agreed a 50Yo reduction for all deficiency contributions payable between I july 2020 to 31
December 2020.
In addition, the Baptist Union of Great Britain agreed to contribute a lump sum of £0.5m by 31 December 2020.
The current Recovery Plan dated 30 September 2020 envisages deficiency contributions continuing until 30 June
2026.
The key financial assumption5 underlying the valuation were as follows..
Type of assumption
RPI price inflation assumption
CPI price inflation assumption
Minimum Pensionable Income increases ICPI plus 1.0% pal
Assumed investmEnt returns
Pre-retirement
Post retirement
Deferred pension increases
Pre April 2009
Post April 2009
Pension increases
%p.3.
3.20
2.70
3.20
2.95
1.70
3.20
2.50
2.70
As there are a large number of contributing employers participating in the Scheme, the College is unable to
identify its share of the underlying assets and liabilities of the scheme. Accordingly, due to the nature of the
Scheme, the profit and loss charge for the period represents the employer contributions payable.
The pension contributions paid by the College are set out in the table below.
Pension Contribution5
2022
2021
BUPS~Standard contri butions
BUPS- Deficit contri butions
BUSPS- Standard contributions
12,757
23,920
9,591
46,268
13,332
17,707
8,949
39,988
24

Recovery Plan
In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit
the TrLJStee and the Council agree to a rate of deficiency contributions from churches and other employers
involved in the DB Plan. Under the current Recovery Plan dated l July 2020, deficiency contributions are
payable until 31 December 2028. These contributions are broadly based on the employer's membership at 31
December 2014 2nd increase annually in line with increases to Minimum Pensionable Income as defined in the
Rules. However, the Trustee and the Council agreed a 50% reduction for all deficlency contributions payable
between I july 2020 and 31 December 2020. Section 28.IIA of FRS 102 requires agreed deficit recovery
payments to be reco8nised as a liability. On 29 July 2022 Baptists Pensions announced that they have signed an
aEreement with the insurance company Just Group I"Just"I to secure DB Plan members, pension benefits and
that deficiency contributlOn5 reduce to just £1 per month from August 2022,. This effectively reduce5 the liabillty
to a negligible amount but will only be recognised in the next accounting period. The movement in the
provision is set out in the table below.
Balance Sheet Liabillty Movements
2022
2021
Balance sheet l lability at year start
Minus deficiency contri butions paid
Interest cost Irecognised in SOFA)
Remai nirig change to balance sheet liability.
Balance sheet liability at ye2r end
195,491
123,9201
1,652
13,2831
169,940
201,797
117,7071
1,839
9,562
195,491
Comprises any change in agreed deficit recovery plan and c.hange in assumptions between year-ends and
recognised in SOFA.
7.Property
Carrying
Historic Cost value at 30
June 2022
Carrying
value at 30
Revaluation I
dSsposal
June20ZI
Duncan House
746,952 2,350.000
457.000
950,000
1,203,952 3,300,000
2,350,000
700,000
3,050,000
48 Great Brockeridge, We5tbury-on-Trym, Bristol, BS9 3TZ
250,000
250.000
The valuation used for Duncan House in the accounts was from a marketing document using recent comparable
evidence in the Clifton area prepared by Alder King Property Consultants as at 10th January 2020. This appraisal
was undertaken by professionally qualified valuers as considered appropriate by the SORP.
The valuation of Great Brockeridge in June 2022 was performed by professionally qualified valuers based on an
open market sale.
25

8.Investments
2022
2021
Investment Valuation Ishares and Cash invested) Reconciliation
Market Value at beginning of year
2,616,435
2,519,781
Additions at cost (Cash deposited i nto Portfolio)
Di5P05als at opening book c05t value
Disposals Imanagement Fees deducted)
Disposals (Cash withdrawn from Portfoliol
Iproceeds£Nil,gain£Nill
115,8171
115,8911
1200,0001
Net Investment Gains/lLossesl
1267,4271
312,545
Market Value at end of year
2,333,191
2.616,435
Historic Cost at end of year
2,132,825
2,170,651
Investments are:
UK Fixed Interest
Over5e3s Bonds
107,679
108,472
392,502
89,221
489,590
149,812
16,378
709,382
40,951
84,551
91,614
53,039
2,333,191
147,238
75,483
511,073
124,101
558,084
203,471
56,453
630,463
48,437
94,331
52,553
114,748
2,616,435
UK Equities
European Equities
North American Equities
Far East & Australasian Equities
Emergi ng Markets
International Equities
Property
Alternative Assets
Otherlnve5tment5
Cash
Total
26

9. Debtors
2022
2021
Trade debtors: Student fees outstanding
Prepayments and accrued income
20,870
8,957
29,827
16,257
9,568
25,825
10. Creditors.. falling due within one year
2022
2021
Trade Cred itors.. Student Fees paid in advance
Accruals and deferred income=
Accrued Staff Costs
University Fees Payable
Auditors Fees
Other accrua15
2,699
3,615
9,660
14,827
5,500
12,993
42,980
1,157
46,836
9,742
10,997
5,640
8,252
34.631
802
Other Credjtors
39,048
Contingent Liabilities
The College participates in the Common Awards validation scheme lead by The Archbishops Council in
conjunction with Durham University. Historicallyi contributions by the College of £24,680 were accrued for
2016-2020 but no invoices have been received despite many enquiries. That liabilFty has been removed from
University Fees Payable and is now treated as a contingent liability.
27

11. Unrestricted Funds
Galnsl
losses
2021
Income
Expenditure
Transfers
2022
General excl CS B V
CSBV
Designated:
Tyndale
Pension Debt
Gesture
Travel
Ron Toop Bursary
4,373,542
12,713
557,368
25,146
1589,7331
18,0271
9,290
25,609
4,376,076
29,832
1,029,446
24,809
2,088
7,363
153,583
1,217,289
1,029,446
124,8091
18001
1,288
7,363
125,901
1,163,998
5,639
5,639
117,8041
117,8041
115,5171
115,5171
125,6091
5,603,544
588,153
1615,5641
16,2271
Gainsl
losses
5,569,906
Comparative for previou5
year
2020
Income
Expenditure
Transfers
2021
General excl CSB V
CSBV
Designated..
Tyndale
Pension Debt
Gesture
Travel
Ron Toop Bursary
4,052,421
6,822
489,565
6,728
1506,6431
18371
275,605
62,594
4,373,542
12,713
1,029,446
87,403
2,170
7.363
133,014
1,259,396
1,029,446
24,809
2,088
7,363
153,583
1,217,289
162,5941
50
11321
5,634
5,684
13,2001
13,3321
18,135
18,135
162,5941
5,318,639
501,977
1510,8121
293,740
5,603.544
CSBV Fund- The Centre for the Study of Bible and Violence is a specific unrestricted general fund to monitor the
income and expenditure of the Centre. Its income includes grants, an allocation of the tuition fees of students
supeTVi5ed by the Centre, registration fees for its symposiums and some donations.
Trndale Fund - Fund set up to receive the proceeds of the Tyndale Bible which was sold to the British Museum. The
Trustees decided at the point of sale to set aside the proceeds into a DesiÈnated Fund that should be fully invested
and the investment income used to support the general work and objectives of the College.
Pension Debt- The Pension Debt fund to hold the difference between the Employers Estimated Debt (estimated by
Baptist Pensions as the College's share of the total scheme deficit as at 30th June) and the recognised present value
liability in the Balance Sheet wherever the fomer is greater than the latter. In 2022 the latter was greater.
Gesture Fund - Fund is money which the College Community lalumnil has raised to use for gifts to students and
former students in need. BUGB were holding it on our behalf but now devolved to us for future control.
Travel Fund Trustees set up thi5 fund set up to assist students with travel grants.
Ron Toop Fund - Fund donated by Twerton Fellowship (now closed) where Trustees decided to fully invest the
monies to provide an annual income to support future student fees and other student needs.
28

12.Restricted Funds
Galnsl
losses
2021
Income
Expendlture
Transfeys
2022
Anderson Pratten
Scholarship
Gwynfryn Thomas
Terill Tercentenary
Nic Church
3,905
17,690
272
89,852
1,321
113,040
484
132
15001
3,889
17,822
272
2,386
16,5811
85,657
1,321
108,961
3,002
15001
16,5811
Comparative for previous
year
2020
Income
Expenditure Gainsl1055es
transfers
2021
Restricted Funds
Anderson Pr2tten
Scholarship
Gwynfryn Thomas
Terill Tercentenary
Urban Life
Nic Church
3,424
17,603
272
79,778
294
1,321
102,692
481
87
3,905
17,690
272
89,852
2,383
7,691
12941
1,321
113,040
2,951
12941
7,691
The Anderson Pratten Prize Trust- Set up as a restricted fund to receive the income from a permanent endowment
fund to promote the study of the Hebrew lariguage or cognate Biblical languages by giving annual prizes in money to
Students successful in passing examination5 in such13nguages.
The Scholarship Fund - Set up as an approved Scheme under the direction of ihe Charity Commission on 12 March
2002 for the advancement of the education of students at Bristol Bapt15t College by the provision of scholarship and
awards.
Gwynfryn Thomas Memorlal Fund - Small restricted fund to support Students through grants and bursaries.
The Terrill Tercentenary Fund - Set up as an approved Scheme under the direction of the Charity Commission
on 12 March 2002 for the relief of ministerial students at Colleges affiliated to the Baptist Union who are in
need, hardship or distre55.
Urban Life Fund- Urban Life was a Centre based at the ColleEe to encourage training and research in mission in
marginalised places. The fund received income towards the running of the centre, the main source of which was a
£50,000 five year grant from the Baptist Union of Great Britain Newington Court Designated Fund which has now
come to an end. The work of the Centre wa5 taken on by a new Urban Life independent charity during 2020121 and
the prevailing balance of the Fund of £13,896 was transferred in June 2020, with a residue of £294 transferred in
November 2020.
Nic Church Fund IbCYMI- Fund was created in 2002 following the death of Nic Church, a bCYM second year student,
who died in a road accident on the 26 June 2002. The fund is used to help CYF students with financial diff iculties.
Students applications are dealt with through an agreed College procedure.
29

13. Permanent Endowment Funds
Gains/
1055es
2021
Income
Expenditure
Transfers
2022
Anderson Pratten
13,075
11,3361
11,739
Comparative for previous
year
Gain5
losses
2020
Income
Expenditure
Transfer5
2021
Anderson Pratten
11,523
1,552
13,075
The Anderson Pratten Prize Trust- Set up following a Letter of Concurrence from the Charity Commission on 14
January 1999 where the capital held under permanent endowment must remain but the income can be spent on the
original objects of the Trust which were set out in an Indenture dated 21 November 1903 and are set out in the
description of the Anderson Pratten Prize Trust Restricted Fund in Note 12.
14. Analysis of the Charitws net assets by Fund
General
Des5gnated
Re5trlcted
Endowment
Total
Property
Investments
3,300,000
1,071,169
34,739
4,405,908
3.300.000
2,333,191
57,415
5,690,606
1.164,626
16281
1,163,998
85,657
23.304
108,961
11,739
Other net assets
Total Net Assets
11,739
Comparativefor previous year
General
Designated
Restrictèd
Endowment
Total
Propertv
Investfftonts
Other net H55et5
Total Net ￿set$
3,050,000
1.357,717
121.4621
4,386,255
3,050,000
2.616,435
63,224
5,729,659
1,181,258
36,031
1,217,289
64,385
48,655
113,040
13,075
13,075
15. Taxatlon status and Gift Aid
Bristol Baptist College is a registered charity for tax purposes and is exempt from tax on its income and gains as long
as these are applied for charitable purposes.
16. Capital Commitment5
At 30 June 2022 Bristol Baptist College had no financial or capital commitments or guarantees12021.. None).
17. Connected CharltyTransactions
The College is a member of the Baptist Union of Great Britain IBUGBI and paid an annual subscription of £36912020=
£3581. The College was a recipient of bursary grants totalling £18,80012021.. £11,650) from BUGB.
30

18. Related Party Transactlons Trustees, staff and their close relations donated £1,80012021'. £9001. The College
was the sole recipient Df grants totallinE £7,05512021'. £6,8471 from the Creed'5 Bristol Baptist College Charity Trust.
No related party transactions have occurred in the year or the prior year other than stated in this note or elsewhere
in the accounts.
19. Comparatlve Statement of Financial Actlvltles for the Year ended 30 June 2021 (including Income and
Expenditure Account)
Notes Unrestricted restrlcted Endowment
2021
Income and Endowmentsfrom:
Donations and legacies
Charitable 3Ctivities
Other trad ing activities
Investments
Other
Total Income
96,056
289,048
179
116,685
96,056
289,048
179
119,636
2,951
501,977
2,951
504,928
ExpendSture on:
Raising funds:
Raising donations and legacies
Investment Management Costs
1,809
15,891
1,809
15,891
Charitable Activities..
Mi nisterial Tralning
Support Costs
Grants & Bursaries
other Christian training
Total CharitableActivities
247,532
187,921
43,681
13,978
493,112
247,532
187,921
43,681
14,272
493,406
294
294
Other Expenditure
Total Expenditure
510,812
294
511,106
Net gainslllossesl on Investments
303,302
7,691
1,552
312,545
Net Income / (Expenditure) before transfers
294,467
10,348
1,552
306,367
Transfers between funds
Other recognised gainslllossesl
Revaluation of fixed a55ets
Defined Benefit pension schemes Irestatedl
19,5621
19,5621
Net Income over expenditure
284,905
10,348
1,552
296,805
Funds brought forward Irestatedl
5,318,639
102,692
11,523
5,432,854
Funds carried forward
5,603,544
113,040
13,075
5.729,659
31