VACATION TERM FOR
BIBLICAL STUDY
REGISTERED CHARITY NO. 1125494
FINANCIAL STATEIVIENTS
FOR THE YEAR ENDED
ST
31 AUGUST 2023

Vacation Term for Bibli￿1 S￿dY
2021-2022
2022.2023
4,967
720
22,887
13
4.768
Language aass Fees
Residence Fees
Additional Meals
Car Parking
General Donations
Bursary Donations
Eileen Stamper Fund: CPF investment
Eileen Stsmper Fund: COIF investment
Pat Merriman Legacy Fund
Patrick Windle Bequest
Bank Interest
GiftAid
19.837
1,116
435
632
839
L433
L119
1.261
32,007
Expendityre
Refunds
Letturers, Fee5
LerturÈrs' Travel
Lecturers, Residen
Language Teachers, Fees
Trustees, Travel
Officers, Residence
Hospitslty
Venue Hire
Car Parking
Admint5trdtion
Advertising
Deposit for next year
Bursaries Awarded
Ileen Stamper Legw Fund
Pat Merriman Legacy Fund
Patrick Windle 8eque5t
2.985
517
1,335
1.350
987
2.245
880
186
2.185
229
21.685
314
22.859
512
2,824
330
35,614
32367
(3,6071
Surplus I (Deficit) for the Year
13J)79)
{30.￿0)
92.896
Transfer to inve5tmentfunds
Cash Funds Brought FoThvard
115.(KJ))
59.289
59.Z89
41210
P.z.

*t31 AMgiLIt
2021-2(122
202>2023
59290
41210
59290
Cth Funds
41210
(1,652)
CMJit￿S INote 4)
Debtors
ChaTiti¢s Prom Fund In￿)me Units
co
{740)
45.0(K)
40,0
52.5(Kl
47.5(Xl
142.638
140,470
L8,176
2,525
90.E58
31.779
G¢D¢ral R¢wv¢ (Note 5)
Bws8ry Fuod (Note 6)
13.952
2,195
91,650
32.673
Pat Fulld (Note 8)
142.638
140,470
Note5 to the Accow
Note l- Basis of
Th¢s¢ a¢wunts have been ryepared ￿ a Teeeipts and payrtThts bys
Nots 2- Related Parties
Officers who attend the Tennpay lthre fees th¢ttstsktKe fees covers their aCc(rtm￿ti0￿ Some officers,
the activiti&8 of the charity. Wbi]st they pay the lecth fees on the satlle ternLS other participauts. their￿S￿dence fees are
Diet with th¢ approval of the tr￿S sothat their attend￿ dtts not leave them out-of-tKxkeL In 2023 the Chairaud
Note 3- Residence Fees
Reskdence fees ar¢ collected from participatits. Thryapr*ar itetti of i[WDrbecau￿ theywer¢ wIlect￿l throughthe
attount alld, altlK)ugh th¢y are not fimds availabl¢ to filltherthe clwitys objeLa4 the clw&ty i% c0ntsac￿yCOthll

Note 4- CreAlitors
CaE parkiD8 fe¢s ¢xtstanding
650
Credttors
Note 5- Inveslments
The itivesttnents 4r¢ Incl￿ at Coytbut the ￿ill￿10￿8 at31StAU8￿ 2023
Cutrellt vahx Cost ptice
45,863
51.473
52J(
47JKI
Note 5. General Reserve
Cash fijnds brnugbt foEward
R￿eipts ex¢luding legacy ful￿4 (£3J91)
Payments excluding bwsary awards (£330). Inves￿ (£15.(W) and
payments from legw 5Jttd% (£l.(X)5)
Sutplus l (Deficit) on generni Kg¢rv¢
Cash fimds canied fiyrward
Debtors (w￿￿ld fr¢s. receivdafteryear end)
Creditors
Balance on fimd
19,828
25.897
(31,032)
{5,135)
14,693
{740)
13953
Note6-Bu
Cosh fuDds brLwgbtfoMFd
Bursary donations
2525
Bursaries awarded
Sutplus l (Deficit) on butS8ry fund
{330)
(330)
2.195
Note 7- Eileert S
35.158
InvEStmellt income (COIF)
Investment income (Prop¢ty Fund)
Receipts
1,433
839
2,272
Transferred tr) Pri4ffj Fw
pa￿ts fr(m fimd
(15.(MX))
(6￿.(￿))
(780)
(15.780)
PaymeLts

Surplus l (Deficit) Eileen Start4￿ Ix8acyFund
Cash fun¢Ls cauied forward
{13.508)
21.650
70,iN)O
Investlnellts gains Ioosses)
91,650
Th¢ Eil¢en staIn￿ Fund is a dG5ignal¢d fuod arA thete is nDrestsictiOD llnrrfKd bythe legacy of Eileen St2DW upon the
LL8e of iucotll¢ ￿ Capital and no s￿Cl￿ tr4LSt was decIar¢d by Eileen StaD7per. The trustees have decided forthe time belug
io invest the capital and SFa tbe income on the fjjrther￿ of the chariti&8 d>jeciive& However. the desision to do this is
entitely at th¢ diw¢tion of the truste¢s who rqnain fre¢ to the￿ Eileen Stanw also iwueathed her knks to the
Note 8- Pat MerriTn&
Fund
Cash fimdsbrou8ht
1,779
Final payiwit of bequ¢st toPatMerrinMn i£gwFw
Investtnent pneome (COIF)
1.119
Receipts
TEansferred to CO
(225)
(225)
Payments
Sw)lus l (Deficit) Pat Fu(
C&sh fuTd8 caTri¢d forward
vested fi￿dS at cost
knvesttwlts 8ains Ioosses)
894
2.673
30.000
32.673
The Pat Merriman Fund is a Rstri¢t¢d fun(L It is to b¢ invested aThl the ￿ed fwthe supplementsry sttses of lectures in
the first week of th¢ Temi andlor fvburwi&

Independent Examiner's re￿t to the Trustees
On the unaudited accounts of
The Vacation Terni for Biblical Study
I r¢w)rt onthe financial stat¢meDts of thcckntty forth¢ yvaT ￿ed 31 August 2023.
This report is made solelv to the Trustec, as aEKxI￿. in accordanc£ Ivith section 145 ofth¢ CRwiliesA¢t
2011 and tr%￿at11)nS made wider section 154 ofthat ACL My WOTk bas widertaken so that I Might
state to th¢ Trust¢¢s those m2ffers I am rcquired to state to them in an indetendent ek•til￿r's report and
ft?rno Otherpurp￿. To the fllllest ext¢nt ￿rmitted bv la4Tr", I donot or &&%lllne re4)ODsibilty to
anvone otheTthan the Trustees as al￿},. formy work orforthis ryrt.
Respective Rwnsibllities of Trnstees and Euminer
The ePoritr S trust*s are resKx)L%ible for the PTep2ration of the financial statements. The cb2Tity's tTUStees
consider that an w￿lt is not reqtiired forthis year utyler SUXioD 144(2) of the chariti￿ Act 2011 (the 2011
It is nty r¢S￿nsibIlIty to:
- Fuamine the fiDan¢ial statem￿ (under sedion 14) of the 2011 Act)"
to follow the pro¢¢dures laid down in the 8¢neFal D1￿CtionS SI￿ by Cknity
con￿lIsSi0￿ (under s¢¢tion 145(5)(b) of the 2011 A¢t)" and
Basis of Independent Ex2n)iner's Report
Ari &Y2mination includes 2 review of &counting ￿e0rd$kept by the elwityatsd acompar1￿ (pf the fJn3ncial
inthe fiDaDcial statementy and the seektng of exYlan￿(￿ frorn you astTUStees concerning any such uth¥s.
The procedures undertaken do not provid¢ all th¢ evid¢n¢¢ that would be requlred in an audit an
cowuently no opinion is givrn as to wh¢th¢rth¢ financial stst¢meths present a'tue and fair viav- and th¢
report is limited to those matters s¢t outin the statements below.
Inde￿dent Examine￿$ Statemenl
l) whith gives me teasoDabk cause to bdi¢v¢ tha¢ in any mat¢[1￿ resyecL the
- to keep a¢(x)unkng Tecords iti wxordance with s. 130 of th¢ 201 I A¢ and
- to prcpare financi31 statements which ag￿e with the acc(Jllthng reo)rds and to compty
with the aC￿Unting rcquircmcats of the 2011 A¢
have noi been m¢L" or
2) to vthich, in my opinion att¢ntion should ￿ dTrwD in oth to ¢nabl¢ a pA)perund¢rstsndiDg
H Cheesman FCA
ChartereAI A￿yJnt2nt
104 Stockbridge Road
Chichester
West Sussex
P019 8QP
Iv
0£

Vacation Term for Biblical Study
Trustees Report for the year ended 31 August 2023
Charity Number: 1125494
Charity's Addres8: 96 Hills Rorf Sabam Hill4 Thetfort Norfolk ItY25 7EZ
Trustees:
Prof Keith Elliott. (Deputy Chairnw)
Ms Janet Cowen
Prof Eryl W Davies" _
Dr Jane McLarty' (Treasurer)
Prof Morna Hookee (President)
Prof Judith Lieu.
Prof. Edward Adams*
Ms Nicola Pitta
Revd Ricbard Wyber
Revd Canon John Westwood (Bursary Secretary)
Dr Timothy Windrf (Cbairman)
[* Tnths also memEers of the Lecturn Advisory Committee]
Charity Seeretary: Mrs Anna FI¢1￿ (Non-Trustee) (resigned 5. August 2023)
Mrs Karen Winder (Non.Trustee) (ap￿illted 5 Au8llSt 2023)
Le¢thre3 Secretary: Mr John Taylor (Non-Tnts) (app)inted 5 AW 2023)
Publicity Officer. Revd Frances Jeffti&8- (Non-TrtLStee)
Non-Trnstee M¢mbeR3 of the IKetures Advisory Committee:
DT. Paul Joyce
Dr Nathan MacDonald
Bankers: HSBC PIC
Structur4 Governance & Management
Governing Document
The Governing Document of the Vacation Terni for Biblical Study, which is also known as
vrBS and promotes a sUMn￿r ￿h0o1 under the title Summer BibEl￿1 st￿lY in Cambridge, is a
Tn￿ Deed dat&1 29 July 2007" the framework witbin ￿1c￿ the Charity operates is further
defjned by its Regulations as revised in July 2012, and amended in January 2016.
Reernitment and AppoAntmeDt of Trnstees
New trustees are aprx)inted by a resolution of the trustees p&wd at a special meeting. They are
selected on the basis that they have the skill4 knowl&lge and experience needed for the
effective administration of the cl￿rIty.
Organisation
The trustees nO￿.allY meet at least twice eath year with the Annual General Meeting in the
New Year and a meeting in JulylAug￿$t at the Ter￿ with a further meding rfrequired. The
itrs elecL llorn]ally from their number, a cha]rn)a￿ Deputy chairn1a￿ Tre&surer, Secretary,
Bursary Secretary, Lectur¢s Sffttary and such other officers as are deemed n￿eSSary. The
tr￿teeS also appoint a pTesid￿L usually a theologian QT a memE*r of thc clergy with a previous

close connection to the Term (who may have served as a ttwtee in the p&8t or have been a
regular contributor to the Tern]'s annual programmes).
They also appoint a Lectures Advisory Committee, cbaired by the D￿uty ChaiTrn. This
Committee's membership includ&s the Chainlla￿ l£ctures Secretary, with three other I￿￿tee5
and up to three non-trustees with relevant experience.
The task of the Lects￿eS Advisory Commitke is to draw up. for the trustees. approvaL a ]ist of
schokn with the appTopriate exwtise to pn)vide lectuKs at the T
Th¢ Cbainll￿ Deputy chairn￿n and Tre&surer a￿ any)w¢red under th¢ t¢rn)s of paragraph 7
of the Tn￿t Deed to forni a standing committee to handle urgent matters.
The stsnding committee rn￿t rcport its decisions and actkvities ￿1]Y and promptly to the
trustees, and must not illCUT expellditUEe except in accordance with a budget a￿d by the
t￿￿te¢s.
Risk Management
The trustees have a duty to idenlify and review the risks to which th¢ Cbarity is exposed and to
ensure appropriate controls are in place to provide reasonable assurance agaFllSt fraud and error.
General Reserves stsnd at £13,952 against an optimum level set by the trusfres of £IO,O(K). The
two L¢gacy Funds (on¢ a d&Signat￿l funQ which hol(Ls £91.650. the other available for general
PUTposes which has been transfeTred to general Teserves) with no r&strictions imposed on their
e. and the Pat Mariman Fund and Butsary Fund (restticted funds) stand at £32.673 and
£2,195 respectively.
The trustees notc that the cost of accommodation is currently exempt from VAT because it is
part of an educational packag¢, and the continuation of this ¢x¢mption is critical for ke￿Ing the
event affordable.
Policies, Activities and the Public Benefit
The Charity's objecL &8 set out in paragraph 3 of the Tnst Dee4 is:
Thefyrtherance of education and religioMY understanding by offering to
students ofthe Bible un opportunity to become acquainted with the
results ofmodern ￿b]ICal and Theologicd Scholarship
This wording is traditional to the Vacation Terni for Biblical Study although it probably does
not date back to its foundation in 1903. The furtherdnce of education is understood by the
trustees to mean the advancement of eth￿atiOn, wbich is a recognised charitable object The
furtherance of religious understanding defines the scope of the ￿UCatIon that is advance& The
programme delivers direct public benefit by ducaLing the participants and equipping them to
learn mor& It delivers indrect public benefit through the work of participants in their local
churches, or in education. The organisation had Anglican origins, but operates ecumenically.
The Charity's progrdmme offers an academically critical approach to bil)licai and theological
issues. No regard is taken of any l¢¢knrer's individual religious stanc£. The individuals who
participate are from a wide variety of Christian, and occasionally non- christia￿ traditions. The
progranime is open to anyone who wish&s to deepen their knowledge and Unde￿tandIng of th¢
Bible and allied subjects througb academic study
The Charity fulfils its charitable object and delivers public benefit by runnillg a two-week
r¢sid¢ntial summer schi)ol in Catnbridge with a progratnme of l¢ctur¢s at a high educational
level given by scholars who are expert in b1￿1]Cal S￿dy, theology and related subjects.

Insttuction is aIso Provided in bJl)lical Greek and Hebrew at beginner, interniediate and
advanced lev¢ls. The Charity prides itself on providing a higb quality progrdmme at a price
wbich compares very favoutably with oth¢r rasidential summtr schools.
From its foundatio￿ the Vacation T¢rni for Biblical s￿dY traditionally attracted partxcipants
working &% teachers. The programme is particularly beneficial for people in training to become
ministers of religion and undergraduates stydying theology. Mally of the partlcipants work in
¢huwh¢s in all unpaid capacity and any personal benefit gain￿ from attendance is UDlik¢ly to be
financial.
The I￿￿teeS are conscious that the accomm(Ktstion feffj though competitive, still represent a
barrier to participation. Bursary awards a￿ made to participants who would otherwise r￿d the
cost of residential participation difficult to affor(L There is also the option to attend the Term as
a non-residenL paying the Lecture Fees and an additional ConfereJce Fee. The Tn￿te¢S also
offer a number of smaller non-restdential Awards towards non-resident costs that would be
made to students and individuals on limited incomes (especially those in trilling for ministy).
Grant Making Policy
Th¢ availability of Bursaries to cover a substantial part of a student's residence fees, and
Awards towards non-resident attendance is advertised in publicity material. Applications for
Bursaries and Awards aT¢ administer￿ by the Bursary Secretary, who is appoint￿] from arnong
the trustees. Recipients are individuals who would otherwise have difficulty atrording the cost
of acwmmodation at the summer sch(K)l. There w&s one Bursary award n]ade in 2023(£330). In
accordance with the Charity's regulations llorn￿llY no inth'vidual is granted mor¢ than one
bursary. and this year there were no exceptions. The regulations also state that as far as possible,
available funds will b¢ fully uti]is¢d in ¢a¢h year. but in 2023 this was not a¢hi¢v¢(L
Activities
In 2023 the programme w&8 located at w￿1r￿ter College Cambridge. There were a total of
37 participants over th¢ fortnight (35 in 2022. 36 in 2021. 58 in 2019), 19 residents and I non-
residents in week one (22 Residents and 3 non residents in 2022.18 residents in 2021. 32
resid¢nts and one non-resident in 2019), and 18 residents and I non-resident in week two of the
Terni (19 residents and I non resident in 2022. 17 residents and I non-resident ID 2021. 24
residents and I non-resident in 2019) So nunthets attending have still not I￿0ve￿d to PT¢-covid
levels and the Teduction in numbers significantly reduced the illcome received for the 2023
A programme of the usual high academic level was PTesented with an Inaug[￿al Ikcture
delivered by Dr Simon Perry, Sunday 23 July 2023 followed by a two-week programme
consisting, each weeL of 19 one-hour sessions. The Eil¢¢ll Stamper Memoriak lecture at th¢
beginning of week two was given by V.Rev& Prof. John MCGuCki￿ In addÉtion, 20 {6 for both
weeks) took part in one-week language classes in biblical Gre¢k or H¢brew at beginner,
intennediate or advanced level (16 in 2022. 20 in 2021: 35 in 2019). Language class numbers
though improved on 2022 have still not return￿ to pr¢-covid levels ID 2023.
Once agaio we engaged significant outside help with the language tuitio￿ and we are grateful
tr) Jack Day, Megan Alsene-Parker. Joe Allen, Ben Rae. Joshua Parker, and Hannah Fytche, for
th¢Ar valuable contributions to OUT language t¢a¢hing progrdmm¢, and Jan¢ MctAty for
organising the lall8￿2ge progrdmme. Participants wue also given access to the college library
duTing the Terni.

Lecturers at the Terni in 2023 were:
Prof. EryE Davies, University of Bangor
Prof. James Crossley, Academic Director of CeDSAMM.
Dr Robert Pope, University of Cambridge (Pat Merriman Memorial lectures).
Prof. Nathan MacDonal(L University of Cambridge
Prof. Judith Lieu: University of Cambridge
V.Revd. Prof. John MCGuCki￿ University of Oxford
Dr Sophia Johnson, University of Cambridge (short paper)
Joseph All¢4 Universty of Cambrid8c (sh(Kt FW)
Achievements and Performance
Financial Review
The Tn￿teeS are reswnsible for kwing proper accounting records that disclose with
reasonable accuracy the financial Fvsition of the Charity. The accounts for the year ended 31
August 2023 show £32,368 of expenditure and £29288 of income, resulting in a deficit of ( -
£3,079) (-£3,607 in 2022). This suggests there has been a slight improvement since 2022. but
understates this improvement as the expendibjre atso included an additional £1,463 spent on
advertising the 2023 Tern]. This disapw)inting deficit reflects the continued low attendance in
the 2023 Terni Nvhich reflects the situation post-COVi(L though the good news was that some of
our overseas members wer¢ able once again to attend in 2023. The Tntstees will need to
continue to keep these trends under review in 2024.
IDvestment Poliey
The trustees adopt a low-risk wlicy. All general fimds are cunently in a charity account with
HSBC Plc. The Trustees decided that the n]ajor prow)rtion of Miss Stamper""s legacy would be
Invests￿ being split between a Clwities Equity Fun￿ and The Charities Property Fund. The
legacy from Miss Pat Merrinwi will be equally split invested between these same two
funds.
Reserves Policy
At 31st August 2023 the￿ was in General Reserves a sum of £13,952 (in 2022 £18,176). In the
Eileen Stamper Legacy Fund (a designated fut)d) there is £91,650 (2022 £90,158). The charity
also has two restricted funds: £32,673 in the Pat Merriman Legacy Fund (£2,673 in caslL and
the rest invested in the proEw fund). and £2,195 (2022, £2,525) in the Bursary Fun(L.
Future Plans
For 2024, Summer Biblical Study in Cambridge will be at Westmi* Collegfy Cambridge (the
ministerlal training college of the UDit&a Reforn]ed Church) for two weeks from 21 July to 2
AugusL The facilities and ethos of Westin1￿ College make it an excellent venue for a biblical
studies summer school.
I decla￿, in my capacity as a charity trus*e, that the tti]stees have approved the report above
and have authorised me to sign It on their Irhalf.
Timothy vfmder
25" May 2024
PJ)