Vacation Term for Biblical Study
Trustees Report for the year ended 31 August 2020
Clwity Number: 1125494
Charity's Address: Highfield. 151 Prestbury Road CheltrnhanL Glos. GL5? ?DU
Trustees:
Prof Keith Elliott. {Depury Chairman)
Ms Janet CoThen
Dr Jane McLartf (Tttasurer)
Prof Morna Hooker. (President)
Prof Judith Lieu
Prof. Edmrard Adams
15 Nicola P&rtan]-
ReTrd Richard W"yber-
Rei"d Canon John Westwood {Butsary Secretary)
Dr Timothy w￿de￿ (Chaim]an)
[* Trustees a19J membets of tbe Lecturers AdN"isory Comtnittee]
Charity Secretary: Mts Anna Fleisch (Non-Trustee)
Pub]icity" oificer: Rei'd Frances Jeffties- (Non-Trustee)
.¥oll-Trustee Members of the Lectures Advisorv Committee:
Dr. Natban Ma¢Donald
BaDkers: HSBC PIC
Structure, Governance & Management
Governing Document
The GoTrerning Docutnent of the Vacation Tetm for Biblical Studv. which is also knowl as
VTBS and promotes a summer school under the title Su[[￿￿ Biblical Study in Cambridge, is
a Trust Deed dated ?9 July 21N)7: rtLe ftarnvvo￿ ivithin which the Charity operntes is fi￿ther
defmed by its Re8ulauons as rnrysed in July 2012. and amended in January ?016.
Recruitment and Ap￿I￿tn￿Tht of Trustees
Nev¢ trustees a￿ appointed by a resolution of the trusteeg passed ai a special rneetÈTh8. They
are selected on the basis tbat they h3i"e the skills. knowled￿ and experience needed for the
effecule administration of the CR)arity.
Organisation
The tnJstees nOM￿llY meet tsvo {or three) times each year the Annual General Meeting
in Jatwary and a meeting in JuR)'.IAugust at tbe Terni Th"ith a fiwther meetiELg if required. The
trusiees elect. no￿nallY fronl their nuD]ber, a ChairDw Deputy Chairn]ao Treasurer.
Secretary, Bursary Secretary. Lectures Secretarv and such other officets as are deemed
necessary. The trustees also appoint a presidenL usually a theologiao or clergy with a

prnious close com]ection to the Tern] {Th.ho may b￿￿ serKed as a trustee in the past or hai'e
been a regular contributor io the Terni's aDoual prograrnmes).
They also appoini a Lectures Adiisory Comrnittee, Chaired by the Deputy Cbainnati. This
Committe'5 tnembership indudes the Chairnw l£cture5 Secretary and up to three non.
trustees Thith releNant experience.
The tssk of the Lecwres Athisory Coullnittee is to draw up. for the trustees. approi'al. a lÈst
of s¢holars with the apprOpri￿C expertise to proiTrde lecu￿e$ at the TernL
The Chairma4 Deputy Chainw and Treasuter empow'ered under the ternis of paragraph
7 of the Tntst Deed to forni a stsndiDg committee io l)aDdle urgent matters.
The standing conunAttee tnust report its decisions and actiTrities ￿llY and promptly to the
trustees, and must not incur expenditure except in accordance ￿'1th a budget awd by the
trustees.
Risk Management
The trustees haN'e a duty to identify and reNiew the risks to ￿,￿Tch the Charity is exFK)sed and
to ensure appropriate controls are in place to proi.ide rvasonable assurance against fraud and
General Reserves stand at {-£?2(Kl) against an optinLUm lffi.el set bvthe trustees of £10,000,
The rwo Legcy Funds (de5igllated funds) llo testtRCtiOnS 1rnF￿d on their use total
£96.771.' and the Pat Me￿iD￿n Fund (restricted fi￿d$) stands at £30,(M)O.
The trU￿e¢S Dote that the cost of a¢¢ommodatiOD is CVTTently exempt from VAT because it is
part of an ethicational package. and tbe continuation of this exemption is critical fot keeping
the ei.eni affordable.
Policies, Activities and the Public Benefit
The Charity's objecl as set out in paragraph 3 of the Trusi Deed. is:
Thefiirtherance of&*icafton ond reli¢ry011s ifflder51anding bi. offerintr to
snidenis of ihe Bible an opi70fftinin' to become ocqiiainiedm'lth the resi1115 of
mollern Biblical and Thenlogieal SchOla￿k1P
This wording is traditional to the Vacation Tern] for Biblicat Studv althougb it probably does
not date back to Èts foundation An 1903. The fi￿tIance of ethicaiion is ulldeL5tood by the
trusiees 10 mean the ad￿￿eement of educatiory which is a recognised charÈtable object. The
furtherdnce of religious undetsranding defines the scope of the education thai is adNanced.
The programme deliN"ers direct public benefii by educaiing the pafticipants and equipping
them to Irarn more. li delii'ers indirect public benefii through the Thork of panicipants in their
local ehurches. or in education. The o¥gatU&lEion had Attglican Origi￿%. but operates
ecumenicaIl%. The Charity's pro￿ offers all academiL7lly criiical approach TO biblical
and theological issues. No regard is tsken of anv lecturer'5 indiN"idual religious stance. The
inth"N'iduaEs wkLO participate are from a wide I"ariery of Christi￿L and occasionally non-
Cllli8tiWL traditions. The p￿)￿ll￿e 15 open To an)'one who i14shes to deepen their
knowledge and undersLinding of the Bible and allied subjeets through acadernic stydy

The Charity fijlfils its charitable objecz and deliiers public benefiz by rUT￿lOg a N'o week
residential SUlllln¢T school in Cambridge Thith a prosramme of lectures at a high educational
level 8iN'en by scholars ii'ho are in biblical study. theolo.ry and related subjects.
Instn￿tiOn is also pioi'ided in biblical Greek and Hebrew at beginner, intrrniediate and
ath"arEced leNrls. The Charity prides itself on proTridiDg a high quality Progrdmme at a price
whicb compares Tr'ery fai"ourably ivith other residential sumtner schools.
From its foundatioffj the Vacaiion Term for Biblical Swdy uadiiionally attracted participants
'orkttkg as Teachers. The programtne is particularE}' beneficiJl for people in training to
become minislets of religion and undergrJth]ates SM(h￿g d￿010￿,. lthy of the participants
'ork in churches in an unpaxd capacity and any petsoDal benefLT gained from attendance is
urdikely to be financial.
The trustees are conscious that the aeeomtnodation fees, though competitii'e. still represent a
barrier TO paTticipation. Bursar), aii'ards are made io par(icipants ii,ho il'ould otheThi'ise find
the cost of residenrial participation dIffiC￿t to afford. There is also the option io attend the
Tenn ￿ a non-residenL p￿ill￿ the Lecture Fee5 and an additional Conference Fe¢. The
Trusiees also offer a mimber of smalIer non-residential AM".ards toNNards non-resideni costs
that Thould be made to students and indii"iththls on limited incoffjes {eS￿l3￿Y (IK>se in
training for ministy).
Grant )faki4g Policy
The aTriilabiEity of Bursaries to eoi.er a Substantial part of a studeDt's residence fees, aDd
A￿"ardS tthiwds llotrresident attendaL￿e As ath"ertised An publieitv matuiai. AppI[catio￿ for
Bursaries and Awards are admiwsiered by the Bursar)" Secretary, Tr."ho Rs appoinied from
among the trustees. Recipients are indiTriduats ii'ouEd otheTh¥ise hai"e diJTiculty affording
the cost of accommodation at the summer school. There iT¥ere no Bursary or AsTr7rds {toM."ards
non resident attendance) in ?O?O due To the cancellaiioo of the Terni. In accordance the
Charity's regulations nornully no indiN"idual is granied more dwi one bursary. and this Jrar
there were no excepU0￿5. The re￿￿al￿on5 also sraie that as far as EKYS5ible, ai"ailable fi]nds
Trll be fi￿Y utilised in each )ear, but in ?O?O this ii."a5 noi achiei"ed.
Actisities
In ?O?O the prograrnn￿ Tr7S to haTrT been located ar Westminsrer College Cambridge. but was
cancelled due 10 Coiid 19 pandemic and the Nauonat Lockdoiim.
The trustees had accepted bookings for ?O?O ai the 2019 eonfetence, ￿h}Ch led to 15
bookings for the 20?0 belng made by the end ?019. some for both Trecks: furttker booking
,here r¢¢¢iTred at the 5rart of the vear. Most of the deposits for the ?O?O Term ii".ere
transfe￿ed to the 20?1 ￿llth the agreemenl of poieniial members. Also the deposit paid to
Wesm]inster College in Jamkirv_?O?O was also transferred to the ?021 Telln.
The planned progrdEDDf of lectures was &￿Celled. yet manv of tbe speakers agreed to
undenake lectures in 2022 (the ?021 programme being aLready agreed).
Achievements and Performance

Financial RevieiF
The Trustees a￿ responsible for keeping proper accounting records that disclose with
reasonable accuracy the fllwicial posiiion of the Chatiry. The accounts for the year ended 31
August 2020 £31.681 of expenditure and £46.457 of income.
The bulk of the expellditu￿ arises from th"0 major Ilen￿ the deposit for ?O?O of £l1.154
(wkkich uaDsferred 10 ?0? l afier the cancellauon of the_
?O?O Term due to coN-id), and the
fce5 for the Nenue hire for the ?019 Tern] of £18.657 (Trhich were presented late after the end
of our accounting year). Three other rnin￿ iiems also ￿'ere late pavments from 2019.
Lecturers fees £6(M). and ￿al'e1 £113: plus car patkiD8 fees for ?019 of £611.
Illcome reeeii-ed duEiDg ?019.I?0?O included ￿idence fees of £7.?10, rq)resenting deposits
paid bs, members for the ?O?O Terni (the b]dk of Th'hich ThTere transferred to the ?0? l Term}.
The majoriry of the income recorded ill these accounTs CO￿81S￿ of No legacies receii".ed
during the vear. from the estates of D¥trs P8t Me￿￿n￿ and Mr Pat'.rick Windle. two fomier
members of the Terni
The Term Tras med by the Trustees of the Estate of Miss Pai Me¥riman (a long tenn
member, forn]er T￿￿[ee and Treasurer) a one off a￿7rd in her memory of £30.1)00. These are
restricted funds: Miss Merrittw s trustges a￿eed that this should be ini'ested to fi￿d 3
lecrures (plus accommodatiorE and tiaTrel costs when required) in the firsi week of the Tenn in
memory of Miss Merriman: and thai an), SULplus incoffje could be used to proi.ide bursaries
iowards attendance at th¢ Temi. The VtBS also ELotified of a legacy from the Estate of
Mr Patrick Windle (a regular fotD]er member of the tetm). of thhich an inierim payment of
£8,51KI was receii'ed in October ?020.
DTrestment Polio"
The M￿teeS adopt a low-risk policy. All .trenetal fimds are CUTreDII} in a charity" account with
HSBC PIC. The Trustees decidcd that the major proportÈon of Mi55 Stamper's legacy would
be Anveste(I being split Ixtween a ChaTities Fun& and a Clwiries Property Fund The
legacy from Miss Pat Meuiman be equally split and inNe5ted betsveen these sattle lTr'o
fimds. Durints ?0?0 £40,0￿ ini'esied the Equity FuniL" and an atternpt Tr&5 made to
iryNest in the Ptoperty Fulld bui delayed due to coiid siti]atioD (bui achieved in the
next accowitino vear).
Reseryes Policy
At 31°, August ?O?O there il'as a deficii on Genernl Resents of (-£2 ?(K)) (?019. £6,981), the
Eileen Stamper Le.oac} Fund (desigLlted) at £88 ?71 (?019 £¥8 ?71). ThthiK5t there 15 £30,0(K)
in the Pat MeTTiman Legacy Fund I￿￿1ch ￿711 be iniested in the rwo charity fimds: and the
year-end balance of the Bursary (restriaed). remained aL £1.885 {?019, £1.885). The
Patrick Windle fiwd contaiLs £8.51XI.
The deficit on General Reser4"es i4.ill be coi"ered. and additionat fi￿dS added fo Gellerai
Reserves from one of the legaey futtds held by vfBS. The precise amount to be taken from
legacy fi￿dS will be detennined th'hen the aeeounts for the ?O?O,?O? Laccounting year are
finalised.

Future Plans
For 2021. Summer Biblical Sruty ID Cambridge will be at Westininstrr College. Cambridge
(the ministerial training college of the Uniied Reforn]ed Church) foi rwo ￿'ee￿ from ?5 July
to 6 August . The facitxtses and ethos of westini￿er College make ti all excellent Nenue for a
biblical studies Surnn￿r schTrJl.
I declare. in niy capacity as a clwitytru5tee. the trustee5 have approi'ed the report above
atld haTre authorised to sisn it on their behalf.
22 September 2021.
Dr. Timothy l¥'ind¢r
Chairman and Trustee
(Left Blankl

V¥ationTerni for Biblid Study
ReCeipts￿d PaymerrtsA£count
forthe ￿arended31 Auwst2020
2018-19
2019-20
Intome
Lertijre Fees
LanguagèCl3ss Fees
Residence Fees
Additional Mea15
Car Parking
General Donations
Bursary Donations
Sleen Stamper Legacy Fund
Pat Merriman Legacy Fund
P*rick Windle Beqyest
Bank Interest
Gift l￿d
3,229
810
24,648
7.219
699
947
158
645
88,271
30.000
8.500
580
119,249
46.457
Expenditure
Refunds
Lecturers, Fees
L&turergTravel
Lecturers, Residence
LanguageTeachers' Fees
Tru5tee5'Travel
Officers, Residence
Vènue Hire
Car Parkin#
ministration
Depositfor next y￿[
Bursaries Awarded
Pat Mwriman Legacy Fund
30
2.430
26
944
1,210
521
2,277
7.934
600
113
314
18,657
611
232
11.154
404
740
16.516
31.681
102,735
rplusl {Defficit}forthe Year
14,776
Transferto inve5tmentfiJnds
40.000

Vx*ltsrtT*rthknaibfialWy
aBat31Augttst
2018-19
201￿0
118,598
93.37S
U•banked In¢oMe
Cash Funds
118,598
93,375
Pi,461}
Creditor51Noie41
ccrtFin¥E5tmentatC05t
[6.9391
40.000
97.137
126.436
6.981
1*85
88271
Resu¥elNDte51
FuRdlNote61
Iwst￿puL￿FUnd lTr*Jte71
Pat Variman LrywFundlP&>te81
PatrirkWindleLewFund INDte91
P,￿01
1,885
88.271
30,DDO
8.500
126.436
97.137
The*aCCauntshw￿bee￿ prtparedanaftteiptsand
R￿dtn(efeesare[o11eCtedfrorn￿tiCI￿t& ThryWAras￿ itemofinc0mebet￿Set1Vwere(Q11￿tdthr0u￿hthe
bank¥couThtand.athou8hthtyaren0tfiJnds￿l3b1e1ofurtherlhech¥1￿so￿.tt1Ithe£harItyJS¢oTrtrXfVa1lY
committdt0wtht￿ut*￿ &xhyw4roe5amiftimum numbttofn￿m￿Thtyi￿¢IUde£69390ldep￿tsfOrt￿e2o2o
terrn. &ncethiStermwastsncdledowSngtoCwd-19.theywll bec3rri•Sfor4¥xdtothe2021term. £18,657 padtothe
¥enuerdAte5tothelB-19Term.
The￿ft*del￿￿ of£580 relatt5tolnc0meitt•￿jlnthep￿UUSxcOun1IttgW0d.
VeDuehireoutaa)di
Carwkingleesoutstanding
LeEturvsfee5andexp•ise50Ut*wOin8
5.939
16,939
Crrditors
The¢reditor5ariseiD respxtofthegweralfvnd.
CathfvndsbrDU8htfDtward
RecdptstrAtltsdin¥bvr5arydonatiO*N &leen5Eanpu. patknffi￿S PatrickWilldleLe
Paymetrt5VAcludingbUr￿ry￿Ward5&1nw￿￿￿ts
rplusllWatl0n8￿¢r￿ rtteTh
C4thfunds¢arriedfo￿arIY
Cralitors
Baanceonfund
28,443
7,957
[31,6811
123,7241
4.719
16,939
Thebur5arydonationsandaY¥&areinclu*Jedsnthebuts¥yfund.

Cash fund5brou8httvrwan5
Bur5arydonatiDn5
Bursarie5awarded
Surplus/lDdcitlpn burs4ryfiTrTrd
Cathfvnds¢aMedforward & balabxeon
1,885
1.885
ThÈBur5KyFundcontainsre#rictedfundswhi¢h only bEuSedas￿tst0P*t1CI￿tsofllffliteA mtsnstOwaré5thÈ¢ost
ofth*rac(ommod4tioThdvrinEthe5UrnrnLT£chtsol. Thffewererx>donatiOn5tgtheSursJryfvnd Inthisyear.
Cathfvndsbrought
OoTratyonsto StampwLewFund
lavestmtht incOmelCfAFI
Inve5tmentiNcornelProputyFundl
88,271
Tran5ferrdtomF
Tr3n5ferTg4tgPropwtyfvnd
p￿n￿ts￿￿rnfund
p￿rn￿tS
rplusllDe*citlon Elle￿staMp¥ LwFund
hfundscarried forward
Inve5tEdfundS¢O5L
Inve5fM￿lSEalns/l[O$SeSj
84anceoThfvnd
140,0001
140,OODI
48,271
40,000
88,271
The￿seth 5tsmperFund isad￿>￿ied1Und￿)dtht￿elS￿Drt5tnCtIon￿mPD5edbythe1tEKYof￿It￿nst3MYYPQTrtheY
of¢ncomeor(apitaland noyttfictru5twasd&laredbyffjleen Stsnper. Thetrustee5h4vedff>dg4tDrthetirnebwnzto
inve5tthecapit& wdthEirt¢omeWthe￿ffh￿a￿¢eortbErh*Tti*tsbje[ts￿& Howewer,the0￿￿OntQdOthiSiS
ex*tirdyarthediscrttiorJoIthet¥u￿ee5whQ1￿￿￿fr¢tt0SPthdthet4)lIa. ￿le￿stan￿¥s￿be9tseathebhW￿)0kSt¢
thecharity.
14ote8 PatNknrnan LwFund
fvndsbro
forward
Donation5to Pat
Ih¥&rnentin¢ome
IrNe5trnrJrtincome
Re£ÉTptS
aO&KJO
ICThFI
30,000
TfanknfdtDCOF
TMsfErredto
PtyrneThtsfromfund
ayments
SurplusllDefi¢itlonPatkltrriman LegxyFuTrd
Cath fvrtd5carrIedfDrW￿d
IDVtstedfund5IDSt
InV*me￿tsga1nSjl1?$3wl
BalanceDnfvnd
30.000
30.000
30,000

Note9 PatrickWindleLtFyFund
Cahfund5brouBht
Don3tionsto Pat
In¥estmÈnt inrorne
Investment incDrne
Rff*pts
8.500
ICIJFI
8,500
TM5frrredtoCQF
Transferredto
P￿ment$frOm*J￿d
P¥rfments
SurplusllDeficitlon Pat LwFtsnd
CthI￿ndS¢3rrIedfDrWaTd
InY&edfundsC05r
Investtnents83ill5111rys%es1
Balanceon
8.500
8.SOD
B.SOD
TEttP*rickWindleLe8xy Fvndlsadey￿atsYfrjnd￿d1here1Stt0res￿Tttlo￿IMpts$edbYthele8I[vtsfPltrIC
WSndlÈ ThetrvstewhJvtdxidedfDrthetimebesnEtoin4*thecapit31 and s￿d theincomeonthetsrtherance
ofthech¥ity'sobjtttiv& Ho¥xthV.thedeciyontodoÈhiSi5tnknTdyatthedi5c¥ebonDfthetru5tet5.whorern￿n
freeto spendthecapital_

Independent E￿mIllerS report to the Trustees
On the uDaudited accounts of
The VacattoD Term for Biblical Strdy
I report on the financial staten*nts of the clEarity or the year eThled 31 Aug1￿ 2020.
This le￿rt is made solely to the TTh￿tee, as a bcdy. in accordance with section 145 of ihe Cbaritie5 Act ?01 I
and regulations mad¢ Ullder se¢uon 154 of that ACL My work I￿$ beell Ulldertoken so that l Inigbt state to the
Trustees those matters I am required to state ￿ them in an tndependellt examinefs report and for no other
purpose. To the fullest exteDt rennitted by law. I do not accepl (f &SUDK rwoTr%ibility to anyone other than
the Trusiees as a W. for my wLKk or for thks
Respective RwtrnMThi]ities of Trustee5 and EI￿ni￿r
The chariws trustees are resp)￿sible forthe prep8rntion of the fijwwial sthtemeots. The clwity's trustees
consider that an audit is not required for this year under section 144(2) of the Charities Act ?01 I lthe 2011
Act) and that an independent Lumi￿tion is lleeded.
li is my resp)nsibility to:
- Examine the finallcial statements (under sectton 145 of the ?01 l Act).
- to follow the procedures laid dowi in the genernl Di[￿tiO￿￿ given by the Clwity Commission
{ullder section 145{5Xb) of ?01 l Act)" aad
- state whether particular matters hav¢ ¢ome to my atteDtio
Basis of Independent Exxminer'$ Re￿rt
My examination was carried out in accordance with the general Directions giken by the Ch&ity Commissio
An examination includes a review of accouniing records kept by the charity and a comparison of the f￿ancial
statements presented with those records. It 8150 includes cousidetatioll5 of ally unusual items or disclosures ill
the financial stalements, and the seeking of explanations fromyou as tDJslees concerning auy such matters.
The pro¢¢dures undertaken do not provide all tbe evidence tbai would b¢ required in an audit an
consequently no opinion is given as to whether the financial Statell￿llts present a.true alld fair view" and the
report is lijnited to thc6e matters set out in the stalements below.
Independent Examiner's Ststement
In comiectton my examinatioty no matter Iw come to my attention
l) which gives me rea￿)nable cause to belie¥'e thaL in any matakal the TeqUirell￿tS.
- to keep accounting records in accordance with s130 of the 2011 Act; atkd
- to prepare financial stalements whTrch agree with the accounting records alld to cozDply the
accounting requireM￿tS of the 2011 ACL
have not been met; or
2) to whicty in my opini(x4 3ttention should be drdwll in orthr to enable a PToper understanding of
the fu]an¢ial statenThts to be reached.
H Cheesman FCA
Chartered Accountant
104 Stockbridge Road
Chi¢hester
West SusseI
P019 8QP
23rd Augllst 2021
ioi