Charity number: 1124950 (England and Wales) Company number: 06576101 (England and Wales)
Solomon Academic Trust
(a company limited by guarantee)
Report of the Trustees
and
Independently Examined Financial Statements
for the year ended 30[th] April 2025.
Solomon Academic Trust
Report of the Trustees
for the year ended 30[th] April 2025.
Principal address The Song School 109A Iffley Road Oxford OX4 1EH Website www.solomonacademictrust.org.uk Trustees Dr Mohammed Girma (until 27 September 2024) Rev Canon Mark Oxbrow Dr Carol M Walker Dr Kathryn Kraft Ms Jill Dhell Dr Philip Lewis Dr Richard John McCallum Mr Rob Scott (from 27 September 2024) Mr Christopher Jefferis (from 21 March 2025)
Independent Examiner Wenn Townsend 30 St Giles Oxford OX1 3LE Bankers Lloyds TSB plc 1-5 High Street Carfax Oxford OX1 4DG
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Solomon Academic Trust
(A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the year ended 30 April 2025.
The trustees present their report and the financial statements for the year ended 30 April 2025. The trustees, who are also directors of Solomon Academic Trust (SAT) for the purposes of company law and who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
The charity is governed by its Memorandum and Articles of Association, dated 18 March 2008 as amended on 24th June 2010. Trustees of the Solomon Academic Trust are appointed by the members at general meetings. Vacancies can be filled, or additional trustees appointed by the trustees until the next following annual general meeting when a trustee so appointed can be reappointed by the members. No other person or body external to the charity is entitled to appoint trustees. A trustee is required to subscribe to the Trust's Statements of Beliefs:
The basis of Solomon Academic Trust is the Christian faith in accordance with the historic creeds acknowledging the human and divine Jesus as Messiah and accepting the Bible as the trustworthy final authority.
Selection and induction of trustees
Prospective trustees are supplied with an information pack and invited to meet the staff of the Centre for Muslim-Christian Studies Oxford (CMCSO) and to sample its activities. They then meet the chair of trustees to discuss their potential responsibilities and how their particular expertise could serve the Trust. The chair reports to the next meeting of the Trust and, if all are in agreement, the prospective trustee is invited to attend a meeting of the Trust before the Trust confirms its invitation to become a trustee.
Decision making
Decisions regarding governance, staffing, strategy and financial policy are taken by trustees at trustee meetings. In the event of disagreement among the trustees, the matter is settled by a simple majority vote of trustees in attendance. If urgent decisions need to be taken between trustee meetings, the chair consults trustees electronically.
Day-to-day decisions on the running of CMCSO, academic policies and decisions about programmes, publications and publicity are taken by the relevant committees of CMCSO under the leading of the Director. The committees currently comprise a senior management team, and an academic team. It is the job of the Director to ensure regular reporting to the trustees, and to advise the trustees on questions about governance, staffing, strategy and financial policy.
Staff remuneration
It is the policy of SAT, within our financial capacities, to set all staff salaries in line with the University of Oxford salary scales and to adjust cost of living pay increases in line with these scales.
Risk management
Our exposure to risks is reviewed annually. The trustees consider their current major risk to be financial security and they have continued close monitoring of income and expenditure and a clear focus on income generation. Monthly staff financial meetings maintain careful scrutiny of all financial matters and adjustments made where necessary.
SAT regularly reviews its communications work to ensure the Trust is compliant with the General Data Protection Regulation (2018) and to minimise the risk of data breaches. We also maintain an
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Information Security Policy for both SAT and CMCSO, which is published online, reviewed annually and read and adhered to by all staff and volunteers. This policy contributes to mitigating the risk of data breaches.
SAT regularly reviews its Safeguarding policy and its implementation. The Safeguard lead is the Director of SAT.
Objectives and activities
The charity's objects are to advance education for the public benefit in Oxford, the UK and worldwide by such means as the Trustees may consider appropriate including:
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1) the education of the public in the subject of the interaction of the Christian and Islamic Faiths;
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2) the research of issues concerning the contribution of the Islamic Faith to national and international issues from the perspective of the Christian faith and the publication of the results of such research;
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3) the education of students at universities and institutes of higher education by the provision of facilities and teaching in relation to Muslim-Christian interaction in order to provide a better understanding of both faiths.
The trustees have a duty to have due regard to the guidance on public benefit published by the Charity Commission (England and Wales) in exercising their powers or duties. In setting the above objectives for the charity, and planning its activities, the charity trustees have followed the guidance on public benefit published by the Commission.
The Trust's achievements, performance and future plans
The Solomon Academic Trust's main activity continues to be the support of the Centre for MuslimChristian Studies Oxford (CMCSO). This is an independent Christian study centre promoting the study of Islam among Christians, the study of Christianity among Muslims and rigorous academic teaching and research on the Muslim-Christian interface. SAT currently operates a second project, in partnership with Langham Ministries, ‘Windows on the Text: Bible Commentaries from Muslim Contexts’. SAT has plans for other work as resources become available. SAT provides administration and financial services to Christian Responses to Islam in Britain (CRIB).
Management and Administration:
During 2024-25 the charity has needed to continue to adjust its work in the light of the restructuring of the staff team and the development of a renewed ministry framework in 2023-4. This will ensure sustainability for the future work of the charity based on a smaller staff hub working in collaboration with a wider network of associates and consultants. We look forward to employing a senior Muslim scholar in 2025-26 utilising funds made available by BT USA specifically for this purpose.
Dr Richard McCallum is the Director of the Solomon Academic Trust, a 0.5 FTE position which oversees all the trust’s projects. There is a 0.8 FTE Administrator using Donorfy for Donor Relations Management and a 0.2 FTE Finance Officer, provided to SAT through a secondment agreement with Faith2Share (Reg. Charity No. 1132707), who uses Xero accounting software to track the trust’s finances.
1. The Centre for Muslim-Christian Studies, Oxford. Leadership and management
Whilst the SAT director, Richard McCallum, is responsible for the overall operation of CMCSO, Dr Martin Whittingham is the CMCSO Academic Dean with responsibility for the day-to-day running of CMCSO and its academic activities. Richard McCallum continues as a 0.5 FTE Senior Fellow with responsibility for Public Engagement. These two currently comprise the Senior Management Team of CMCSO. During the year Ida Glaser resigned her 0.5 FTE position with SAT to work full-time with CMCS Houston, USA but is now seconded back to work with CMCSO on a part-time basis.
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Regular activities:
The regular activities of the Centre:
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Term-time academic hybrid research seminars attended by a global audience in over 50 countries
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Academic teaching in Oxford and elsewhere
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Monthly Qur'an and Bible Group meetings (hybrid)
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Occasional public lectures
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A Guided Reading programme of reading and study available for scholars and faith or community leaders – often on sabbatical
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An annual Oxford Muslim-Christian Summer School (2025 was our tenth), which is a week of intensive learning and shared experience for Muslim and Christian leaders in training, exploring sacred texts, history and contemporary issues.
Research:
The major research projects of CMCSO are:
Reading the Bible in the Context of Islam under the direction of Dr Ida Glaser. There are now three books in this Routledge series with the 2025 publication of ‘The Gospels in Islamic Context: Function and Content’. Proposals are with the publisher for two further titles, ‘Daniel and Islam’ and ‘The Psalms and the Qur’an’.
A History of Muslim Views of the Bible under the direction of Dr Martin Whittingham, who is working on the second volume of his book of this title. Dr Motaz al-Thaher is also a 0.25 FTE Research Fellow on this project.
Christian Responses to Islam under the direction of Dr Richard McCallum. The paperback version of his 2024 book Evangelical Christian Responses to Islam came out in August 2025 and he is currently working on a series of blogs to mark the occasion which will lead to a second book.
Publications
In addition to the above research and books, CMCSO also publishes:
Hikmah Study Guides – short booklets providing an accessible way to develop an understanding of complex and potentially controversial issues which Muslims and Christian encounter together . There are now 12 guides in the series which are now being converted into e-book and print-on-demand formats to increase circulation and improve monetisation. The most recent guides published in 2024-25 explores issues of The Land (Israel-Palestine) and Martyrdom .
Research Briefings – publication of this in-house journal containing short summaries of seminars given at the centre has been paused for the time being due to issues of capacity and poor circulation.
Book reviews – occasional short reviews of books relevant to Christian-Muslim relations.
CMCSO Blogs – these are series of articles linked to our research and the ethos of our centre published on our website.
International Partnerships
Our international partnerships continue to flourish. The Sanneh Institute, Ghana, recently held its second residential Summer School facilitated by two students who took part in the 2022 CMCSO Summer School. The Center for Muslim-Christian Studies Houston also held its first residential weekend led by two students who attended the 2023 CMCSO Summer School. In this way we are seeing the ethos of CMCSO being reproduced in culturally appropriate ways in other contexts. Our third sister centre, The Center for Interdisciplinary Studies in Religions and Culture , was launched at Walisongo State University on Java in 2023 by Dr Ferry Mamahit, a former visiting scholar at CMCSO. It is expected that two students from Indonesia will attend the 2025 Summer School in Oxford with a view to initiating a similar programme for Southeast Asia.
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Library:
We are grateful for a recent personal donation of some 700 books to the CMCSO library. Andrew Persson continues to volunteer one day per week, and over the past year has moved the library catalogue online. The library now holds over 3,000 items as well as archives from MECO (Middle East Christian Outreach) and from Vivienne Stacey (who worked in Pakistan and the Middle East).
Networking and equipping:
Research Associates Network - The CMCS Oxford Research Associates Network was formally launched in 2025 initially bringing together 15 established researchers – both Christian and Muslim – based in universities around the world. The aim is to create synergy, share resources and equip those working in the field of Christian-Muslim Relations (CMR).
Next Generation Researchers – A network to encourage early career academics researching CMR. This initiative grew out of a 2023 hybrid conference held in Oxford bringing together current and recently qualified postgraduate researchers in CMR. Plans for a 2025 conference in Amman, Jordan, had to be cancelled due to the geopolitical situation but we hope to hold another conference in 2026 either in Oxford or Turkey.
Scholarships - Two Small Scholarships have been awarded for 2025-26, each worth £2,000, to a Muslim and Christian postgraduate student based in Oxford, with support from the Spalding Trust. The scholarship holders co-convene the monthly Qur'an and Bible study meetings, as well as presenting their research at a seminar during their period as a scholar.
Teaching in Oxford and elsewhere:
The team continues to tutor students and provide other supervision, teaching and examination for the University of Oxford and elsewhere. In particular, each June we provide intensive courses in Judaism, Islam and Christian-Muslim Engagement for Wycliffe Hall and St Stephen’s House. We have also contributed teaching to online courses run by our sister centre, The Center for Muslim and Christian Studies Houston.
2. Windows on the Texts: Bible Commentaries from Muslim Contexts
This is a writing and publishing project independent of CMCSO. It is producing accessible-level commentaries on books of the Bible in partnership with Langham Literature. The aim is to complete 5 volumes as a pilot project by 2027. The academic bases for the work are CMCSO and the Near East School of Theology (NEST) in Beirut. Following the publication of the first commentary, on Genesis 1-11, John’s Epistles will appear in late 2025, with Jonah (2026), Genesis 12-50 and others to follow.
3. Christian Responses to Islam in Britain (CRIB)
This network, separate from the above academic projects, connects Christians working in various ways with Muslims or in Muslim contexts around Britain. Its main activities are resource sharing, communication (via WhatsApp groups) and conferences. A residential conference planned for September 2025 had to be cancelled but a day conference will take place in October 2025. The theme of the conference, which is ‘Christians, Muslims and Our Vision for Britain’, acknowledges the current sharp disagreement amongst Christians concerning immigration, nationalism, religious laws, Islamophobia and national identity.
Financial review
During this financial year, after transfers, a gain on unrestricted funds of £64,874 was achieved, and a loss on restricted funds of £6,834 leaving us with an overall gain in the year of £58,040. The yearend figure of unrestricted reserves (£183,605) is equivalent to approximately 9 months of future unrestricted expenditure which is above our policy level of 6 months costs. The work of the trust remains at risk unless substantial improvements can be achieved in its ability to raise funds from a wider donor base.
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Fundraising continues to be a priority for SAT and its staff, with the focus on encouraging philanthropic giving through campaigns and newsletters, earning income and applying for grants from trusts in the UK and USA. In the financial year 2024-25, SAT received 10 grants worth £39,670. Of these 7 grants totalling £21,320 were towards the Oxford Muslim-Christian Summer School.
SAT continues to benefit from a generous matching fund held but Bridge Trust USA, the result of a substantial legacy left by a US philanthropist. It is envisaged that this fund will provide a third of SAT’s finances in future years.
Future priorities:
The trustees’ priority continues to be the development of a positive Christian witness which engages both Muslim and Christian communities, in the UK and internationally, in constructive mutual understanding and collaboration based on rigorous research, study and public education.
The restructuring undertaken during 2023-24 has enabled the charity to continue to fulfil its objectives based on a smaller hub of core staff and a wider network of research associates and other professionals working in the field of Muslim-Christian understanding.
A significant bequest to Bridge Trust USA, our partner charity in the USA, brings promise of improved financial security as we generate matched funding. Long-term financial stability and effective management structures for SAT, CMCSO and our other projects remain an important concern. In the immediate future trustees have agreed to:
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Adopt a more networked approach to achieving the trust’s objectives as outlined in the trust’s 2024-29 strategy document and the 2024 Annual Review. Strengthen our board of trustees by broadening its ethnic diversity, appointing a lead trustee for finance, utilising fully the gifts of all trustees, and adding to the board other additional trustees where skills are lacking, particularly in the area of fundraising. Enable the reduced core staff team, led by the SAT Director, to effectively represent the work of SAT in the wider public sphere and to lead the income generation work. Raise specific funds to sustain the continued employment of Dr Mohammed Gamal Abdelnour as Senior Muslim Scholar beyond May 2026. Strengthen our capacity to raise the financial resources required to fulfil our strategic plan, partly through clearly sharing our vision with our partner charity, Bridge Trust USA, but also through the recruitment of high nett worth donors in the UK Further develop our collaborative work with other similar centres and movements around the world, especially in Houston, USA, Ghana, and Indonesia Ensure that we have adequate administrative capacity so as to release academic staff for research, teaching and public engagement.
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Trustees have plans to undertake various future projects which will be rolled our once we have secure streams of income in place.
Rev. Canon Mark Oxbrow Chair of Trustees
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Solomon Academic Trust
Statement of Financial Activities (Including Income & Expenditure Account)
for the year ended 30th April 2025
| Notes | Unrestricted | Unrestricted | Restricted | 2025 | 2024 | |
|---|---|---|---|---|---|---|
| Funds | Funds | Total | Total | |||
| £ | £ | £ | £ | |||
| Income from: | ||||||
| Donations and legacies | 2 | 272,905 | 17,778 | 290,683 | 331,223 | |
| Charitable activities | 3 | 20,099 | - | 20,099 | 17,753 | |
| Investments | 4 | 589 | - | 589 | 798 | |
| Total income | 293,593 | 17,778 | 311,371 | 349,774 | ||
| Expenditure on: | ||||||
| Raising funds | 5 | (25,328) | - | (25,328) | (43,050) | |
| Charitable activities | 6 | (197,018) | (25,954) | (222,972) | (283,472) | |
| Exceptional costs | 8 | (4,200) | - | (4,200) | - | |
| Total Expenditure | (226,546) | (25,954) | (252,500) | (326,522) | ||
| Net income/(expenditure) before gains | on investments | 67,047 |
(8,176) | 58,871 | 23,252 | |
| Net gains/(losses) on investments | (831) | - | (831) | 4,811 | ||
| Net movement on funds | 66,216 | (8,176) | 58,040 | 28,063 | ||
| Transfer of Funds | 9 | (1,342) | 1,342 | - | - | |
| Net movement after transfers | 64,874 | (6,834) | 58,040 | 28,063 | ||
| Total funds brought forward | 118,731 | 35,543 | 154,274 | 126,211 | ||
| Total funds carried forward | 183,605 | 28,709 | 212,314 | 154,274 |
The notes on pages 9 to 15 form an integral part of these financial statements.
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Solomon Academic Trust
Balance Sheet
| as at 30th April 2025 | as at 30th April 2025 | ||||
|---|---|---|---|---|---|
| Notes | Notes | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Tangible assets | 10 | - | - | ||
| Current Assets | |||||
| Trade debtors | - | ||||
| Sundry Debtors & Prepayments | 11 | 35,454 | 55,752 | ||
| Cash at bank and in hand | 178,435 | 100,172 | |||
| Total current assets | 213,889 | 155,924 | |||
| Creditors: Amounts falling due within one year | Creditors: Amounts falling due within one year | ||||
| Trade creditors | - | - | |||
| Accruals | (1,575) | (1,650) | |||
| Total current liabilities | (1,575) | (1,650) | |||
| Total net current assets | 212,314 | 154,274 | |||
| Total net assets | 212,314 | 154,274 | |||
| Represented by | |||||
| Restricted funds | 12 | 28,709 | 35,543 | ||
| Unrestricted funds | 12 | 183,605 | 118,731 | ||
| Total funds | 212,314 | 154,274 |
For the year ended 30th April 2025 the company was entitled to exemption from audit under S477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with S476. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. These financial statements were approved and authorised by the Board and signed on its behalf by:
.
Rev. Canon Mark Oxbrow Chair of Trustees
Company registered number 06576101
The notes on pages 9 to 15 form an integral part of these financial statements.
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Solomon Academic Trust
Notes to the Financial Statements for the year ended 30th April 2025
1. Accounting Policies
Basis of accounting.
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and in accordance with applicable UK accounting standards (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 (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006).
Going Concern
The trustees’ financial review covers the year to 30[th] April 2025. The bulk of its income is derived from one-off donations and matching funds, and the trustees aim to hold unrestricted reserves of around 6 months expenditure to justify the “going concern” basis. At 30[th] April 2025, unrestricted reserves amounted to £183,605, which is approximately 9.7 months of future unrestricted funds expenditure.
Incoming Resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is entitled to the income. The following specific policies are applied to particular categories of income:
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Voluntary income received by way of grants, donations, and gifts is included in the SoFA when receivable.
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Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
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Gifts in kind are included at the estimated market value of the item donated.
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Income from investments is included in the year in which it is receivable.
Resources Expended
Liabilities are recognised when there is a legal or constructive obligation committing the charity to the expenditure.
Costs of raising funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
The costs of granting of scholarships and bursaries to study at CMCS are provided in the accounts when the scholarships are awarded unconditionally. Expenditure on granting research scholarships for research conducted by the charity is provided when the scholarships are paid.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management and governance costs. Where possible, these costs have been allocated across the funds, pro rata to direct costs.
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Solomon Academic Trust
Notes to the Financial Statements (continued) for the year ended 30th April 2025
1. Accounting Policies (continued)
Fixed Assets
Tangible fixed assets are capitalised when they exceed £500 cost. Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value, over their expected useful lives at the following rates:
Fixtures and fittings 10% pa straight line Equipment 20% pa straight line
Defined Contribution Pension Scheme
The pension costs charged in the financial statements represent the contributions payable by the charity during the year.
Foreign Currencies
Exchange gains and losses are recognised when they are realised.
Operating Leases
Costs of operating leases are charged to the SoFA on a straight-line basis over the term of the lease.
2. Income from donations and legacies
| 2. | Income from donations and legacies | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Donations received | 106,201 | 2,778 | 108,979 | 178,993 | |
| Grants received from Bridge Trust USA | 166,704 | - | 166,704 | 137,230 | |
| Other grants received | - | 15,000 | 15,000 | 15,000 | |
| ����� | ����� | ����� | ����� | ||
| 272,905 | 17,778 | 290,683 | 331,223 | ||
| ����� | ����� | ����� | ����� | ||
| 3. | Income from charitable activities | ||||
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Teaching income | 14,326 | - | 14,326 | 13,653 | |
| Other income | 5,773 | - | 5,773 | 4,100 | |
| ����� | ����� | ����� | ����� | ||
| 20,099 | - | 20,099 | 17,753 | ||
| ����� | ����� | ����� | ����� | ||
| 4. | Income from investments | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Interest income | 589 | 798 | |||
| ����� | ����� |
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Solomon Academic Trust
Notes to the Financial Statements (continued) for the year ended 30th April 2025
5. Cost of raising funds
| 5. | Cost of raising funds | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Salaries and related costs | 22,305 | - | 22,305 | 40,165 | |
| Other direct costs | 3,023 | - | 3,023 | 2,885 | |
| 25,328 | - | 25,328 | 43,050 | ||
| 6. | Expenditure on charitable activities | ||||
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Centre for Muslim-Christian Studies: | |||||
| Salaries and related costs | 50,757 | - | 50,757 | 105,929 | |
| Courses, conferences and lectures | 20,494 | - | 20,494 | 16,247 | |
| Other direct costs | 1,117 | 22,804 | 23,921 | 24,116 | |
| Grant-funding activities | 4,467 | - | 4,467 | 3,333 | |
| Total direct costs | 76,835 | 22,804 | 99,639 | 149,625 | |
| Support costs | 106,793 | 2,835 | 109,627 | 86,451 | |
| Total CMCS costs | 183,628 | 25,639 | 209,266 | 236,076 | |
| Reading the Bible in the Context of Islam: | |||||
| Salaries and related costs | 1,024 | - | 1,024 | 36,216 | |
| Other direct costs | - | - | - | 1,574 | |
| Grant-funding of activities | 500 | - | 500 | - | |
| Total direct costs | 1,524 | - | 1,524 | 37,790 | |
| Support costs | 11,866 | 315 | 12,181 | 9,606 | |
| Total RBCI costs | 13,390 | 315 | 13,705 | 47,396 | |
| Total expenditure on charitable activities | 197,017 | 25,954 | 222,971 | 283,472 |
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Solomon Academic Trust
Notes to the Financial Statements (continued) for the year ended 30th April 2025
7. Analysis of support costs
| Analysis of support costs | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Premises costs | 39,323 | 41,713 |
| Salaries and related costs | 68,450 | 38,763 |
| Office costs | 10,882 | 12,675 |
| Independent Examiner | 1,539 | 1,386 |
| Depreciation | - | - |
| Travel | 1,615 | 1,520 |
| ����� | ����� | |
| Total support costs | 121,809 | 96,057 |
| ����� | ����� |
8. Staff costs
The total of staff salaries, including social security and pension contributions was £142,536 (2024: £225,113).
No employee earned in excess of £60,000 during the year (2024: None).
Pension scheme costs represent employer contributions to a defined contribution pension scheme.
The average FTE headcount of employees during the year was 3 (2024: 6).
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Exceptional Costs | 4,200 | - |
| A one off redundancy cost was paid out during the year. |
9. Transfers between funds
There was a transfer from unrestricted funds to the Langham fund of £1,342 in the year ended 30th April 2025 (year ended 30th April 2024: None). This is related to an expense previously recognised in the prior year Langham expenditure, which due to a change of circumstances, is now considered unrestricted expenditure.
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Solomon Academic Trust
Notes to the Financial Statements (continued) for the year ended 30th April 2025
| 10. | Fixed assets | Fixtures | |
|---|---|---|---|
| & fittings | Total | ||
| £ | £ | ||
| Cost | |||
| At 1st May 2024 | 17,224 | 17,224 | |
| At 30th April 2025 | 17,224 | 17,224 | |
| Depreciation | |||
| At 1st May 2024 | 17,224 | 17,224 | |
| Charge for the year | - | - | |
| At 30th April 2025 | 17,224 | 17,224 | |
| Net book value | |||
| At 1st May 2024 | - | - | |
| At 30th April 2025 | - | - | |
| 11. | Sundry debtors and prepayments | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Lease deposit paid | 14,215 | 14,213 | |
| Prepayments | 6,001 | 6,294 | |
| Gift aid tax recoverable | 175 | - | |
| “Match” funds receivable | 13,254 | 35,245 | |
| Johan Refund | 1,809 | - | |
| Total | 35,454 | 55,752 |
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Solomon Academic Trust
Notes to the Financial Statements (continued) for the year ended 30th April 2025
12. Movement in funds
| Balance | Incoming | Direct | Support | Gains/losses Transfers | Gains/losses Transfers | Balance | |
|---|---|---|---|---|---|---|---|
| 01.05.24 | resources | costs | costs | on investments | 30.04.25 | ||
| Restricted funds | |||||||
| Langham fund | 14,199 | 15,000 | (19,255) | - | - | 1,342 | 11,286 |
| CRIB | 2,103 | 2,778 | (2,657) | - | - | - | 2,224 |
| Motaz al Thaher | 6,889 | - | - | - | - | - | 6,889 |
| Danny Crowther | 12,352 | - | (4,042) | - | - | - | 8,310 |
| Total restricted funds | 35,543 | 17,778 | (25,954) | - | - | 1,342 | 28,709 |
| Unrestricted | |||||||
| general fund | 118,731 | 293,593 (104,738) | 293,593 (104,738) | (121,808) | (831) | (831) (1,342) 183,605 |
(1,342) 183,605 |
| Total funds | 154,274 | 311,371 (130,692) | 311,371 (130,692) | (121,808) | (831) | (831) - |
212,314 |
| Balance | Incoming | Direct | Support | Gains/losses Transfers | Gains/losses Transfers | Balance | |
| 01.05.23 | resources | costs | costs | on investments | 30.04.24 | ||
| Restricted funds | |||||||
| Langham fund | 18,333 | 15,000 | (19,134) | - | - | - | 14,199 |
| CRIB | 1,750 | 1,579 | (1,226) | - | - | - | 2,103 |
| Motaz al Thaher | 7,039 | - | (150) | - | - | - | 6,889 |
| Danny Crowther | - | 15,884 | (3,532) | - | - | - | 12,352 |
| Total restricted funds | 27,122 | 32,463 | (24,042) | - | - | - | 35,543 |
| Unrestricted | |||||||
| general fund | 99,089 | 317,311 (206,423) | 317,311 (206,423) | (96,057) | 4,811 | - | 118,731 |
| Total funds | 126,211 | 349,774 (230,465) | 349,774 (230,465) | (96,057) | 4,811 | - | 154,274 |
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Solomon Academic Trust
Notes to the Financial Statements (continued) for the year ended 30th April 2025
13. Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Fund balances at 30th April 2025 as represented by | |||
| Tangible fixed assets | - | - | - |
| Current assets | 185,180 | 28,709 | 213,889 |
| Current liabilities | (1,575) | - | (1,575) |
| ����� | ����� | ����� | |
| 183,605 | 28,709 | 212,314 | |
| ����� | ����� | ����� | |
| Unrestricted | Restricted | Total | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Fund balances at 30th April 2024 as represented by | |||
| Tangible fixed assets | - | - | - |
| Current assets | 127,270 | 28,654 | 155,924 |
| Current liabilities | (1,650) | - | (1,650) |
| ����� | ����� | ����� | |
| 125,620 | 28,654 | 154,274 | |
| ����� | ����� | ����� |
14. Trustee remuneration
No trustee received any remuneration from the charity during the year.
15. Related party transactions
There were no related party transactions during the year.
16. Financial commitments
At 30th April 2025 the charity had lease commitments on its premises to pay £12,900 during the following year and £Nil greater than one year.
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Solomon Academic Trust
Independent Examiners Report for the year ended 30th April 2025
I report to the charity trustees on my examination of the accounts of the company for the year ended 30th April 2025 which are set out on pages 9 to 15.
Responsibilities and basis of report
As the charity 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 company’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 the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the 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 that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Signed: A Andrew Rodzynski Wenn Townsend Chartered Accountants Oxford OX1 3LE
………………………..2025 24 September
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