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2020-08-31-accounts

REGISTERED COMPANY NUMBER: 06074349 (England and Wales) REGISTERED CHARITY NUMBER: 1122789

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

FOR

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 August 2020

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 24
Detailed Statement of Financial Activities 25

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 August 2020

TRUSTEES The Venerable Dr John Applegate Canon Pamela Elizabeth Bishop The Revd Canon Dr Christopher Burkett The Revd Canon David Rhys Felix The Revd Stephen Pierce The Rt Revd Philip John North Mr Matthew Peter Elliott Ms Jacqueline Mary Stamper Mr Richard Molyneux Lewis The Venerable Mrs Jean Ann Burgess (appointed 17/8/2020) The Rt Revd Mark Davies (appointed 20/4/2020) The Revd Stefan Dnistrianskyj (appointed 16/3/2020) The Venerable Simon Fisher (appointed 29/7/2020) Rev Canon Dr David James Page (appointed 24/3/2020) Ms Josephine Miriam Venn (appointed 13/7/2020)

REGISTERED OFFICE 113 Aiken Hall University of Chester Crab Lane Warrington Cheshire WA2 0DB REGISTERED COMPANY 06074349 (England and Wales) NUMBER REGISTERED CHARITY 1122789 NUMBER INDEPENDENT EXAMINER Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

The objects are:

  1. The advancement of theological education in areas of Christian faith, mission, practice and dialogue and in particular without limitation:

  2. The provisions of learning opportunities for members of churches and other interested persons:

  3. The sharing of theological resources with and among local churches, committees and other training providers;

  4. The preparation of persons for accredited forms of ministry; and

  5. The provision of opportunities for post-graduate study.

  6. To advance theological education generally.

All Saints aim is to help each student to be, under God, the best disciple, Reader, deacon or priest that can be.

The Learning for Mission and Ministry Programme is primarily to prepare men and women for accredited and ordained ministry, enabling them to participate in the mission of God in the world. The Course offers different pathways, which vary in length depending on the ministry which is being trained for.

All Saints also offers teaching and supervision at all levels of study from Certificate of Higher Education to MA and doctoral studies for those wanting to do further study and extend their existing qualifications.

All current students study part-time and many are in full-time employment.

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

OBJECTIVES AND ACTIVITIES Achievements and Performance

All Saints Centre for Mission and Ministry has had a demanding but successful year.

Most obviously, the restrictions caused by Coronavirus C-19 have forced major changes in the way the company works. In mid-March, All Saints employees were equipped for home-working and left the course office. Staff and students have done a remarkable job in keeping the course running effectively. In March, we held a major consultation exercise with students about the new curriculum and timetable from September 2020, which has shaped how we respond to the current issues presented by C-19. A further consultation was held in October 2020 involving a cross section of one in six of the student body

The priorities that have guided the way we have reorganised teaching and learning are these:

The first main casualties of C-19 were sector placements most of which were abruptly withdrawn in February and March, followed by the residential Easter School. Tutors worked incredibly hard to transfer teaching and worship online in what one described as "the most intensive staff development exercise I have ever done". In the third term it became apparent that we did not have the resources to transfer the three pastoral practice weekends and Reader study day online. Staff therefore focused on transferring the joint study online, and this was done successfully. Our summer venue cancelled our Summer School booking, so this was also transferred online. Sadly we have not been able to hold award celebrations to present certificates, and this is now likely to have to wait for some time.

In line with Durham University guidance we identified assessments that had been affected by C-19 restrictions and implemented an 'emergency module amendment' procedure to systematically adapt module delivery and assessment and to communicate this to students. The changes included:

This approach was commended by the External Examiner at the Board in July.

Online teaching creates additional demands for staff and students and we are learning from the good practice developed in other institutions as well as developing our own. All teaching is being delivered online in the first term of 2020-21 and is likely to continue well into the second term and possibly into Easter School. The current priority is to ensure time and resources to integrate students in the new intake and to support students' social, spiritual and formational engagement as well as their study.

Our External Examiner Dr John Moxon gave All Saints glowing feedback at the July 2019, July and October 2020 exam boards, praising staff and students for achieving continuing improvement of very high quality, while many other HE institutions were falling over.

August 2020 saw the end of the Derby Integrated Pathway, with all the students due to finish validated courses successfully completing their awards. The Derby project brought over £250,000 into All Saints, allowing the company to increase academic and support staffing, invest in developing our online teaching environment and develop our support systems. The loss of income from the Derby Project was partly off-set by new arrangements with Manchester Diocese for 2019-21 and with Chester Diocese for 2020-21.

Financially, we expected the charity to breakeven in 2019-20, but the forced cancellation of so many residential events and new income from Manchester Diocese led to a saving of £100,000. Our scenario-planning had suggested a deficit of £200,000 in 2020-21 if we made no changes, principally to staffing. However, with C-19 windfall savings in 2019-20, planned savings in implementing the new curriculum, additional income from Manchester and Chester dioceses and now with likely additional savings due to C-19 restrictions the Board is able to safeguard posts for the 2020-21 operational year. As we report below, the context for 2021 onwards has changed significantly.

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

OBJECTIVES AND ACTIVITIES

In 2019 All Saints welcomed the periodic external review team from Durham University and the Church's National Ministry Team and in June 2020 their "one-year-on" report recognised that All Saints had responded positively and successfully to the vast majority of their recommendations. An experienced reviewer commented that All Saints had shown remarkable agility in responding so quickly and so well to so many recommendations - far more ably than other institutions in their experience.

In late 2019 the NW Bishops initiated a review of theological education in the region. In July 2020 they announced that they intended to create a new TEI to undertake the current training provided by All Saints with St Mellitus NW and Cumbria Christian Learning - with ambitions for additional training provision. An Implementation Group supported by All Saints' Standing Committee is working on the development of the new Emmanuel Theological College which will begin teaching on 1[st] September 2021.

Emmanuel Theological College will be based on the legal entity that is All Saints Centre for Mission and Ministry but with new Articles of Association, revised charitable objects, a new board of trustees and directors and under the leadership of the Revd Dr Michael Leyden. All Saints' board has designated £99,500 towards the set-up costs of the new college.

The trustees express their thanks to the staff team for the tremendous work that has been done in a most difficult and unpredictable year, for the remarkable achievements in teaching and learning, for the sustained improvements in efficiency and for the care that has gone into supporting students in their studies and formation for ministry.

Public benefit

The trustees confirm that they have complied with the duty under section 17 of the Charities Act 2011 to have due regard to the public benefit guidance issued by the Charities Commission.

All Saints trains lay and ordained ministers to university standards for the Church of England. Independent students are also encouraged and welcomed. The costs of training are not charged to the majority of students and courses are open to members of the public at a subsidised cost. The professional training of the church's ministers is essential to the quality of the service that they offer to the public.

FINANCIAL REVIEW

Investment policy and objectives

The funds have been invested in short term investments in order to continue the activities of the company.

Reserves policy

During 2019 the Board allocated £10,000 to designated reserves for rebranding and £1,800 of costs were allocated against the reserve in that year. A further £5,600 of costs have been allocated against it in the current year.

As discussed above, during the 2019/2020 financial year, the Board has designated £99,500 towards the set up costs of the new Emmanuel Theological College.

The Designated reserves, the movement and the transfers can be seen in detail in note 13 to these accounts.

The Trustees have agreed that a minimum of six months gross salary, accommodation and administrative costs be maintained for the work of the charity generally. This would amount to approximately £365,000. At the end of August 2020 £440,430 (2019: £396,489) remains in free reserves which the trustees believe is prudent to cover the uncertainty in Higher Education, Archbishops' Council income streams, the impact of the Common Awards and capital loan repayments.

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

FINANCIAL REVIEW Financial review

Income for the year totalled £768,990 (2019: £779,817) and expenditure amounted to £643,149 (2019: £793,228) per the Statement of Financial Activities (SOFA), leaving net incoming resources of £125,841 (2019: deficit of £13,411). This is after accounting for the required contribution to the deficit on the Church of England Funded Pension Scheme, but before taking into account any actuarial gains. Around 94% of the income of All Saints comes from the participating Diocese' contributions.

The trustees receive regular information and carefully monitor the financial position of the charity at their meetings.

They continue to review costs and reduce these where possible to ensure there are sufficient funds available to fulfil the core purposes of the charity as set out in the objectives above.

The cash flow of the charity has remained positive and - by bringing forward one repayment - we will complete the repayment of loans from three of our member dioceses this academic year.

The trustees are satisfied that All Saints will have adequate resources to continue to operate as a going concern for the foreseeable future and have prepared the financial statements on that basis.

FUTURE PLANS

As reported above, the bishops of the Northwest announced in July 2020 that they wanted to create a new theological college in the region to supersede the three current providers; All Saints, St Mellitus NW and Cumbria Christian Learning. The new college is to be called Emmanuel Theological College and the bishops have appointed an Implementation Group to oversee the creation of the new college, to begin operating on 1st September 2021. As All Saints is the only TEI with a separate legal identity, it will be used to form the basis of the new college which will be led by the Dean, the Revd Dr Michael Leyden.

The trustees have approved the development and designated £99,500 from reserves towards the costs of implementation and the Dioceses have committed an additional £60,000 in loan funding, with further funding options under discussion. The implementation group are working to a detailed project plan in order to gain validation by the Church of England’s Ministry Council, Durham University and the Office for Students, including agreeing curriculum, staffing structure, policies and procedures.

New articles are being agreed and it is intended that a new board will be in place in the second quarter of the 2021; the Bishop of Chester has been announced as the new chair of trustees. Development plans for All Saints are therefore on hold and the staff are working to ensure a smooth transition to Emmanuel Theological College. The new board will develop the business plan for the future of Emmanuel College.

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity, formerly called The Southern North West Training Partnership, was established in 2006 as an outworking of the commitment of church leaders and trainers in the region, to collaborate more closely in the provision of quality local and ecumenical theological education and training. Their vision was for a unitary and fully ecumenical Regional Training Partnership (the "RTP").

It became a company limited by guarantee on 30 January 2007 and gained charitable status in February 2008.

In May 2013, the charity changed its name to All Saints Centre for Mission and Ministry. It is governed by the provisions contained within its Memorandum and Articles of Association (reconstituted in 2013), the requirements of its partner institutions and other statutory and charity laws.

There are four Member bodies who each appoint three representatives to serve on the Board of Trustees as follows:

The Diocese of Chester The Diocese of Liverpool The Diocese of Manchester The Diocese of Blackburn

In addition there are two co-opted members, one formerly representing General Synod (Canon Pam Bishop), and one nominated by the North-West Bishops (the Right Revd Philip North). The Principal (The Venerable Dr John Applegate) is an ex-officio member of the board.

Also in attendance at meetings are two student representative and a representative from Luther King House Educational Trust.

The trustees and members have agreed new Articles of Association and the Diocese of Blackburn became a member of the company in 2017.

Each member of the company has a personal liability limited to £1 under their guarantee as company members in the event of the company being wound up.

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

The term trustee has the meaning as set out in section 177 of the Charities Act 2011, that is, "the persons having the general control and management of the administration of the charity regardless of what they are called". In the case of a charitable company, it is the directors who are the charity trustees. Throughout this report the word "director(s)" can also be read as "trustee(s)".

The trustees who served or appointed during and after the year were:

The Venerable Dr John Applegate Canon Pamela Elizabeth Bishop The Venerable Mrs Jean Ann Burgess (Appointed 17/08/2020) The Revd Canon Dr Christopher Burkett The Rt Revd Mark Davies (Appointed 20/04/2020) The Revd Stefan Dnistrianskyj (Appointed 16/03/2020) Mr Matthew Peter Elliott The Revd Canon David Rhys Felix The Venerable Simon Fisher (Appointed 29/07/2020) Mr Richard Molyneux Lewis The Rt Revd Philip John North The Revd Canon Dr David James Page (Appointed 24/03/2020) The Reverend Stephen Pierce Ms Jacqueline Mary Stamper Ms Josephine Miriam Venn (Appointed 13/07/2020)

The trustees are appointed as per the Articles of Association, and are receiving ongoing training, as appropriate. Some senior staff have job titles incorporating the title 'Director' but they are not directors of the company for the purposes of company law.

None of the trustees has any beneficial interest in the company.

The Reverend Canon David Rhys Felix is Chair of the Board of Trustees and the Board normally meets 4 times per year.

The Board of Trustees is responsible for the vision, strategy, and policy of the All Saints Centre for Mission and Ministry. As stated in its principal activities, All Saints provides the advancement of theological education in areas of Christian faith.

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

The day-to-day overview of the operation of the Course is in the hands of the Principal. This includes:

In accordance with clause 11.1 of the Articles of Association, the Board of Trustees has also established sub-committees, the functions of which are listed below. All sub-committees assist the Principal in carrying out his duties and are required to report all acts and proceedings to the Board as soon as is reasonably practical.

The Academic Committee is appointed by and accountable to the Board of Trustees of All Saints. Its purpose is the education oversight (governance). With effect from 1st September 2015 validation moved over to the University of Durham, and we now also have a Management Committee which comes under the umbrella of the Academic Committee. Membership of the Management Committee is set by Durham.

The Academic Committee operates within the policy framework (in non-educational areas) established by the Finance and General Purposes Committee. Its work is focused on ensuring that All Saints achieves its prime objective for the period to 2016 of the development of excellence in providing Initial Ministerial Education Phase 1 for ordinands and pre-admission training for Readers, through the courses of training offered by All Saints.

Main responsibilities of the Academic Committee, in partnership with the Finance and General Purposes Committee, include: community and corporate life; common worship; teaching and learning; teaching and ancillary staff; and business planning.

The functions of the Finance and General Purposes Committee are to oversee the following aspects:

Related parties

The trustees acknowledge that due to the complexity of the structures in which All Saints operates, a number of related party transactions may occur.

A related party transaction is one where the charity has a relationship with another party, which might inhibit it from pursuing its own interests.

Any decision by a charity to enter into a transaction ought to be influences only by the consideration of the charity's own interests. This does not necessarily mean that all transactions with related parties are influenced by the consideration of interests other than the charity's, nor that they are liable to invalidation, but transparency is important and therefore information about such transactions is necessary.

The transactions and balances with related parties are disclosed in note 15 to the financial statements.

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

REPORT OF THE TRUSTEES for the Year Ended 31 August 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place.

In addition to the risk of fraud and error, the principal risks relate to the number of student enrolments and the funding provision for the Ministry Division of Archbishops' Council and other sponsoring bodies.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of All Saints Centre for Mission and Ministry for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally 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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

Approved by order of the board of trustees on .............4th December 2020........................... and signed on its behalf by:

........................................................................ The Revd Canon David Rhys Felix - Chairman

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALL SAINTS CENTRE FOR MISSION AND MINISTRY

Independent examiner's report to the trustees of All Saints Centre for Mission and Ministry ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mrs Jane Dennis Institute of Chartered Accountants in England and Wales Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB

5th December 2020 Date: .............................................

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 August 2020

2020 2019
Unrestricted Unrestricted
funds funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 - 79,131
Charitable activities 4
Course Fees 767,014 697,872
Investment income 3 1,976 2,814
Total 768,990 779,817
EXPENDITURE ON
Charitable activities 5
Education and training for Ministry 643,149 793,228
NET INCOME/(EXPENDITURE) 125,841 (13,411)
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes 12,000 -
Net movement in funds 137,841 (13,411)
RECONCILIATION OF FUNDS
Total funds brought forward 404,689 418,100
TOTAL FUNDS CARRIED FORWARD 542,530 404,689

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

BALANCE SHEET 31 August 2020

BALANCE SHEET
31 August 2020
2020 2019
Unrestricted Unrestricted
funds funds
Notes £ £
CURRENT ASSETS
Debtors 10 119,874 1,593
Prepayments and accrued income 21,994 5,614
Cash at bank and in hand 535,025 588,992
676,893 596,199
CREDITORS
Amounts falling due within one year 11 (130,363) (171,510)
NET CURRENT ASSETS 546,530 424,689
TOTAL ASSETS LESS CURRENT
LIABILITIES 546,530 424,689
PENSION LIABILITY 14 (4,000) (20,000)
NET ASSETS 542,530 404,689
FUNDS 13
Unrestricted funds 440,430 396,489
Designated funds 102,100 8,200
TOTAL FUNDS 542,530 404,689

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 4[th] December 2020 ............................................. and were signed on its behalf by:

............................................. The Revd David Rhys Felix - Chairman

The notes form part of these financial statements

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

CASH FLOW STATEMENT for the Year Ended 31 August 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2020
£
(55,943)
(55,943)
1,976
1,976
(53,967)
588,992
535,025		 2019
£
29,885
29,885
2,814
2,814
32,699
556,293
588,992

The notes form part of these financial statements

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 August 2020

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

2020
£
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
125,841
Adjustments for:
Interest received
(1,976)
Loan repayment
(7,500)
(Increase)/decrease in debtors
(134,661)
(Decrease)/increase in creditors
(33,647)
Difference between pension charge and cash contributions
(4,000)
Net cash (used in)/provided by operations
(55,943)		 2019
£
(13,411)
(2,814)
(7,500)
38,712
18,898
(4,000)
29,885

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/9/19 Cash flow At 31/8/20
£ £ £
Net cash
Cash at bank and in hand 588,992 (53,967) 535,025
588,992 (53,967) 535,025
Debt
Debts falling due within 1 year (10,000) 7,500 (2,500)
(10,000) 7,500 (2,500)
Total 578,992 (46,467) 532,525

The notes form part of these financial statements

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 August 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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 activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Wherever possible, each item of expenditure is allocated to either charitable activities or governance costs, according to the function it pertains to. The cost of charitable activities include support costs, which are those costs not constituting part of the output of a charitable activity but which are necessary for its delivery. The main items allocated to support costs are the employment of administrative staff together with the running costs of the charity's offices.

Governance costs are costs associated with the governance arrangements of the charity and include the preparation of the financial statement and their review, legal advice for the trustees and the costs of holding trustees meetings.

Whenever a cost cannot be directly allocated to any of the above, an apportionment is made on a just and reasonable basis.

Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only.

The charity is not able to recover Value Added Tax and therefore all expenditure in the accounts is recorded inclusive of VAT.

Fund accounting

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.

All funds are unrestricted funds, which are expendable at the discretions of the trustees in furtherance of the objects of the charity.

Retirement benefits Pension Builder Scheme

The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.

continued...

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

1. ACCOUNTING POLICIES - continued

Retirement benefits

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme.

A valuation of the scheme is carried out once every three years. The most recent scheme valuation completed was carried out as at 31 December 2016. This revealed, on the ongoing assumptions used, a surplus of £0.5m. There is no requirement for deficit payments at the current time.

Pension Builder 2014 will be valued in relation to the lump sum payable to members at normal pension age. There are no annual pension benefits. Pension Builder 2014 commenced in February 2014 so the second full valuation of that section will be carried out at the next CWPF valuation date, 31 December 2019.

Church of England Funded Pension Scheme (CEFPS)

All Saints Centre for Mission & Ministry participates in the Church of England Funded Pensions Scheme for stipendiary clergy. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Responsible Bodies.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme's assets and liabilities to specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme

The multi-employer scheme is currently in deficit and in December 2015 the company has agreed to participate in a recovery plan to reduce this. Section 28.11A FRS 102 requires agreed deficit recovery payments to be recognised as a liability.

Calculations at 31st December are used as an approximation of the values at 31 August in the same year due to undue costs to prepare calculations out of sync with the main scheme.

2. DONATIONS AND LEGACIES

Grants
Grants received, included in the above, are as follows:
Archbishops Council		 2020
£
-
2020
£
-		 2019
£
79,131
2019
£
79,131

continued...

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ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

3. INVESTMENT INCOME

Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Partner Dioceses Reader Fees Course Fees
Independent Students
Course Fees
Residential Income
Course Fees
Module Fees
Course Fees
Sundry sources
Course Fees
Training Fees
Course Fees
Director of Studies
Course Fees
5.
CHARITABLE ACTIVITIES COSTS
Education and training for Ministry
6.
SUPPORT COSTS
Education and training for Ministry
Support costs, included in the above, are as follows:
Management
Admin staff wages
Other operating leases
Insurance
Postage and stationery
Other costs
Admin travel & training
Independent examination fee
Legal fees
Accountancy assistance		 Direct
Costs
£
548,645


 2020
2019
£
£
1,976
2,814
2020
2019
£
£
144,000
144,000
105,709
91,912
-
4,611
32,210
37,346
9,439
-
427,656
420,003
48,000
-
767,014
697,872
Support
costs (see
note 6)
Totals
£
£
94,504
643,149
Management
£
94,504
2020
2019
Education and
Training for
Ministry
£
£
51,993
74,905
9,272
18,291
2,187
2,110
4,173
5,622
14,297
21,465
191
2,326
3,000
3,000
8,659
5,959
732
528
94,504
134,206

continued...

Page 17

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Other operating leases 2020
£
9,272		 2019
£
18,291

8. TRUSTEES' REMUNERATION AND BENEFITS

No Trustees received any remuneration for services as trustees, but the Venerable Dr John Applegate was paid for his role as Principal on the Lichfield scale of the Church of England. He was also reimbursed expenses in connection with his work as Principal. One of the Trustees (2019 - three) received travel expenses totalling £1,545 (2019 - £3,377).

John Applegate's salary package was made up of salary, housing allowance, book allowance and retreat allowance and the total taxable salary was £47,616 (2019 - £47,468). The pension contributions are under a non-contributory scheme, as detailed in note 14 and amounted to £12,120 (2019 - £11,910).

Trustees' expenses

There were no other trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019 other than those noted above..

9. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as follows:
Academic
Administration		 2020
£
356,326
356,326
2020
5
3
8		 2019
£
349,486
349,486
2019
5
3
8

No employees received emoluments in excess of £60,000.

continued...

Page 18

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 12)
Trade creditors
Social security and other taxes
Accrued expenses
12.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Loans from connected charities
13.
MOVEMENT IN FUNDS
Net
movement
At 1/9/19
in funds
£
£
Unrestricted funds
Other charitable funds
396,489
143,441
Designated fund
8,200
(5,600)
404,689
137,841
TOTAL FUNDS
404,689
137,841
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
Other charitable funds
768,990
(637,549)
Designated fund
-
(5,600)
768,990
(643,149)
TOTAL FUNDS
768,990
(643,149)		 2020
2019
£
£
119,874
1,593
2020
2019
£
£
2,500
10,000
849
12,948
7,728
7,486
119,286
141,076
130,363
171,510
2020
2019
£
£
2,500
10,000
Transfers
between
At
funds
31/8/20
£
£
(99,500)
440,430
99,500
102,100
-
542,530
-
542,530
Gains and
Movement
losses
in funds
£
£
12,000
143,441
-
(5,600)
12,000
137,841
12,000
137,841

continued...

Page 19

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1/9/18
in funds
£
£
Unrestricted funds
Other charitable funds
332,032
(11,611)
Designated fund
86,068
(1,800)
418,100
(13,411)
TOTAL FUNDS
418,100
(13,411)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Other charitable funds
779,817
Designated fund
-
779,817
TOTAL FUNDS
779,817		 Transfers
between
At
funds
31/8/19
£
£
76,068
396,489
(76,068)
8,200
-
404,689
-
404,689
Resources
Movement
expended
in funds
£
£
(791,428)
(11,611)
(1,800)
(1,800)
(793,228)
(13,411)
(793,228)
(13,411)

Designated funds

The income funds of the charity include the following designated funds, which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance as Incoming Resources Balance at
01/09/2019 resources expended Transfers 31/08/2020
£ £ £ £ £
Rebranding 8,200 - (5,600) - 2,600
Set up costs of new
college - 99,500 - - 99,500
---------- ----------- ----------- ---------- -----------
8,200 99,500 (5,600) - 102,100
====== ====== ====== ====== ======

The new reserve established this year relates to the anticipated set up costs for Emmanuel Theological College.

continued...

Page 20

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

14. EMPLOYEE BENEFIT OBLIGATIONS

Pension Builder Scheme

The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.

Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members' Normal Pension Age.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable of £25,867 (2019: £23,442).

Church of England Funded Pension Scheme (CEFPS)

All Saints Centre for Mission & Ministry participates in the Church of England Funded Pensions Scheme for stipendiary clergy. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Responsible Bodies.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme's assets and liabilities to specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year of £8,119 for 2020 (2019: £7,795), plus the figures highlighted in the table below as being recognised in the SoFA, giving a total credit of £3,881 for 2020 (2019 charge: £8,794).

A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2018. The 2018 valuation revealed a deficit of £50m, based on assets of £1,818m and a funding target of £1,868m, assessed using the following assumption

.

continued...

Page 21

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

14. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in the Balance Sheet are as follows:

Present value of funded obligations
Present value of unfunded obligations
Deficit
Net liability		 Defined benefit
pension plans
2020
2019
£
£
(4,000)
(20,000)
-
-
(4,000)
(20,000)
(4,000)
(20,000)

The amounts recognised in the Statement of Financial Activities are as follows:

Current service cost
Net interest from net defined benefit
asset/liability
Past service cost
Actual return on plan assets		 Defined benefit
pension plans
2020
2019
£
£
-
-
-
1,000
-
-
-
1,000
-
-

Changes in the present value of the defined benefit obligation are as follows:

Opening defined benefit obligation
Contributions by employer
Interest cost
Other remeasurement		 Defined benefit
pension plans
2020
2019
£
£
20,000
24,000
(4,000)
(5,000)
-
1,000
(12,000)
-
4,000
20,000

continued...

Page 22

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

14. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in other recognised gains and losses are as follows:

Actuarial gains on defined benefit scheme Defined benefit
pension plans
2020
2019
£
£
12,000
-
12,000
-

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

2020 2019
Discount rate 1.10% 2.10%
Price inflation 2.80% 3.10%
Increase in total pensionable payroll 1.30% 1.60%

The actuarial assumptions above are as at 31 December 2019, however the difference between these and the year-end are not deemed material.

Following the 31 December 2018 valuation, a recovery plan was put in place until 31 December 2022. The deficit recovery contributions (as a percentage of pensionable stipends) are 11.9% from January 2018 to December 2020 and 7.9% from January 2021 to December 2022.

As at December 2017 and 2018 the deficit recovery contributions under the recovery plan in force at that time were 11.9% of pensionable stipends until December 2025. However, as at 31 December 2019 the deficit recovery contributions under the recovery plan in force were as set out in the above paragraph.

For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme's rules.

The remeasurement gains comprise changes in the agreed deficit recovery plan, and change in discount rate and assumptions between year-ends.

The legal structure of the scheme is such that if another Responsible Body fails, All Saints Centre for Mission & Ministry could become responsible for paying a share of that Responsible Body's pension liabilities.

continued...

Page 23

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 August 2020

15. RELATED PARTY DISCLOSURES

The trustees acknowledge that due to the complexity of the structures in which All Saints Centre for Mission and Ministry operates, a number of related party transactions may occur.

A related party transaction is one where the charity has a relationship with another part, which might inhibit it from pursuing its own separate interests.

Any decision by a charity to enter into a transaction ought to be influenced only by the consideration of the charity's own interests. This does not necessarily mean that all transactions with related parties are influenced by the consideration of interests other than the charity's, nor that they are liable to invalidation, but transparency is important and therefore information about such transactions is necessary.

During the year to 31 August 2020, income was received by the charity from the following related parties:

2020 2019
£ £
The Diocese of Chester 36,000 36,000
The Diocese of Liverpool 36,000 36,000
The Diocese of Manchester 36,000 36,000
The Diocese of Blackburn 36,000 36,000

The above amounts comprise the agreed annual course fee for Reader training, plus a charge for ordinands whose training is not paid for by the national Church.

During the year to 31st August 2020, expenditure was incurred by the charity with the following related parties:

2020 2019
£ £
The Diocese of Chester 31,772 31,277
The Diocese of Liverpool 31,772 31,277
The Diocese of Manchester 31,772 31,277
The Diocese of Blackburn 20,969 20,642

The above amounts were primarily for the provision of tutoring, course management services and teaching room hire.

The balances due to these related parties as at the year-end are shown below. These balances form part of the figure for accruals in note 12 to the accounts.

2020 2019
£ £
The Diocese of Chester 31,772 31,277
The Diocese of Liverpool 31,772 31,277
The Diocese of Manchester 31,772 31,277
The Diocese of Blackburn 20,969 20,642

Loans from related party organisations are as follows

2020 2019
£ £
The Diocese of Chester - 2,500
The Diocese of Liverpool 2,500 5,000
The Diocese of Manchester - 2,500

Page 24

ALL SAINTS CENTRE FOR MISSION AND MINISTRY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 August 2020

INCOME AND ENDOWMENTS
Donations and legacies
Grants
Investment income
Deposit account interest
Charitable activities
Partner Dioceses Reader Fees
Independent Students
Residential Income
Module Fees
Sundry sources
Training Fees
Director of Studies
Total incoming resources
EXPENDITURE
Charitable activities
Academic staff wages
Academic staff costs & expense
Tutors & Course management costs
Library & web-site resources
Module fees
Accommodation
Interest on pension scheme liabilities
Support costs
Management
Admin staff wages
Other operating leases
Insurance
Postage and stationery
Other costs
Admin travel & training
Independent examination fee
Legal fees
Accountancy assistance
Total resources expended
Net income/(expenditure)		 2020
£
-
1,976
144,000
105,709
-
32,210
9,439
427,656
48,000
767,014
768,990
304,333
6,037
130,554
23,045
15,686
68,990
-
548,645
51,993
9,272
2,187
4,173
14,297
191
3,000
8,659
732
94,504
643,149
125,841		 2019
£
79,131
2,814
144,000
91,912
4,611
37,346
-
420,003
-
697,872
779,817
274,581
17,292
137,717
24,018
28,816
175,598
1,000
659,022
74,905
18,291
2,110
5,622
21,465
2,326
3,000
5,959
528
134,206
793,228
(13,411)

This page does not form part of the statutory financial statements

Page 25