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2021-12-31-accounts

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

COMPANY NO. 5662830 (ENGLAND AND WALES)

A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL

REGISTERED CHARITY NO. 1139185

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

KING LOOSE & CO

ACCOUNTANTS AND STATUTORY AUDITORS ST JOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN OXFORD OX2 7JL

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

CONTENTS

Page
Administrative Information 1
Annual Report 2
Statement of Trustees' Responsibilities 3
Auditors' Report 4
Statement of Financial Activities 5
Balance Sheet 6
Statement of Cash Flows 7
Notes to the Financial Statements 8 - 15

1.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31[ST ] DECEMBER 2021

ADMINISTRATIVE INFORMATION

Directors and Trustees Reverend Canon Dr. V. K. Samuel
Reverend Canon Dr. C. M. N. Sugden
H. W. Storm
C. J. C. Kerslake
R. A. Sookhdeo
The Very Reverend Prof P. Sookhdeo
Company and Executive Secretaries Reverend Canon Dr. C. M. N. Sugden
Reverend Canon Dr. V. K. Samuel
Company Number 5662830 (England and Wales)
Charity Number 1139185
Registered Office 5 South Parade
Summertown
Oxford
OX2 7JL
Solicitors Knights plc
Midland House, West Way
Oxford
OX2 0PH
Statutory Auditors King Loose & Co
St John's House
5 South Parade
Summertown
Oxford
OX2 7JL

2.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

ANNUAL REPORT FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

The Directors and Trustees present their annual report and financial statements, for the period ended 31[st] December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s memorandum and articles of association, the Companies Act 2006, the Charities Act 2011, and 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 – Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Objects of the Charity, Principal Activities and Public Benefit Statement

The Charity is constituted as a company limited by guarantee and is, therefore, governed by a memorandum and articles of association.

The Charity's object and its principal activity is that of the advancement of education in the subject of religion and in particular its contribution to public life by:

In carrying out these objects and activities, the Trustees have read and considered the Charity Commission guidelines for Public Benefit and consider that the Charity continues to operate fully in accordance therewith.

Organisation of Our Work

The Charity is organised so that the Trustees meet and converse regularly to manage its affairs. The post of Executive Secretary is a non salaried position, and day to day responsibility of the Charity’s affairs are delegated to the two individuals who hold this position. The Executive Secretaries are also Trustees.

Developments and Achievements

The Trustees consider that the performance of the Charity over the past seven months has been satisfactory in terms of project outcomes. The Charity has continued to expand its core academic courses and has seen an increase in the number of post-graduate students enrolled. It has also established The Shepherd’s Academy to work with existing institutions, networks and churches across the Global South to deliver training programmes that address the gaps in the theological training for grassroots Christian Leaders. Our goal and vision is to see grassroots church leaders equipped with the necessary tools they need to faithfully and effectively lead in their churches and communities.

Future Developments

The Trustees hope to continue to build upon the foundations which have been laid.

Transactions and Financial Position

The statement of financial activities shows net outgoing general resources of £9,325 for the period (period to 31[st] May 2021: outgoing £9,013), and the general unrestricted fund deficit carried forward stood at £5,456 (31[st] May 2021: surplus £24,228).

Funds Available

The present funding structure is by a combination of student fees and grant income. This is expected to continue to provide an adequate level to support the continuation of the projects and programs being developed, but the Trustees are aware of the need to ensure that core funding keeps pace with the increase in expenditure and are taking steps to source this.

2(a)

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

ANNUAL REPORT FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

Co-operative Relationships with Other Organisations

The Oxford Centre For Religion & Public Life has informal links with other churches, charities and organisations, worldwide, who generally share its charitable objectives and from time to time works with them on particular projects. Some of these other charities and organisations offer support for the Charity’s work by way of grant funding, or donations. The Charity also works in partnership with a number of universities for the delivery of its academic courses.

Reserves Policy

The Trustees are aware that the current level of unrestricted funds has not increased in line with the increase in expenditures and have the intention to increase the level of unrestricted funds to provide sufficient funds to a level which is adequate to cover the ongoing promotion of the Charity’s objects, together with the associated support and administration costs.

Directors and Trustees

All Directors of the Company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named on page 1 served during the period. The Board has the power to appoint additional Trustees as it considers fit to do so, and, as the need arises, appropriate training will be given to any new Trustees taking up office.

Risk Management

The Trustees have examined the major strategic, business and operational risks which the Charity faces or may face, and confirm that systems are in place to enable regular reports to be produced, so that the necessary steps can be taken to lessen any such risks.

Auditors

King Loose & Co have agreed to offer themselves for re-appointment as Auditors to the Charity.

Audit Information

In so far as the trustees are aware:

Small Companies Regime

This report has been prepared in accordance with the small companies regime of the Companies Act 2006

Approval

This report was approved by the Board of Directors and Trustees on……………………………2022, and signed on its behalf by:

……………………………………

H. W. Storm (Trustee)

3.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

The Trustees are required by law to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity, and of its results 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 charity, and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011 and the applicable Charities SORP. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

By Order of the Board of Directors and Trustees

……………………………………… H. W. Storm

4.

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

Opinion

We have audited the financial statements of The Oxford Centre for Religion & Public Life (the “Charity”), for the period ended 31[st] December 2021, which comprise the statement of financial activities and summary income and expenditure account, the balance sheet, the cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Other information

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

4(a)

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather than the Companies Act 2006. Accordingly, we have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

St John’s House 5 South Parade Summertown Oxford OX2 7JL

King Loose & Co Statutory Auditors

King Loose & Co is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE 5.

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

FOR THE PERIOD ENDED 31ST DECEMBER 2021 FOR THE PERIOD ENDED 31ST DECEMBER 2021 FOR THE PERIOD ENDED 31ST DECEMBER 2021 FOR THE PERIOD ENDED 31ST DECEMBER 2021 FOR THE PERIOD ENDED 31ST DECEMBER 2021

Income and endowments from:
General Donations and Grants
Speaking and Authorship fees
Book sales
CJRS (furlough) receipts
Total Income and Endowments
Expenditure on:
Charitable Activities
Costs incurred in Furtherance
of the Charity's Objects
General Support Costs
Grants expended
Total Resources Expended
Net (Expenditure) for the period
before transfers
Transfers between Funds
Net Movement in Funds
Fund Balances B/fwd
Fund Balances C/fwd
Note
2

3
4
6(a)		 SUMMARY INCOME AND EXPENDITURE ACCOUNT
Total Funds
Unrest
Desig
Restrict
Period to
Unrest **
Funds
Funds Funds
31/12/21
Funds
£
£
£
£
£
8,750
-
355,113
363,863
17,274
240
-
-
240
360
49
-
-
49
22
-
-
-
-
-
_
_
_
_
_
_
9,039
-
355,113
364,152
17,656
_
_
_
_
_

14,127
-
366,670
380,797
22,450
4,237
-
8,802
13,039
4,219
-
-
-
-
-
_
_
_
_
_
_
18,364
-
375,472
393,836
26,669
_
_
_
_
_
**
(9,325)
-
(20,359)
(29,684)
(9,013)
(20,359)
-
20,359
-
(19,697)
_
_
_
_
_

(29,684)
-
-
(29,684)
(28,710)
24,228
8,056
-
32,284
52,938
_______
_______
_______
_______
_______

(5,456)
8,056
-
2,600
24,228
======
======
======
======
======
=		 Desig
Funds
£
-
-
-
-
__
-
______
-
-
-
_
-
______
-
-

-
8,056
___
8,056
=====		 Restrict
Funds
£
401,486
-
-
71,004
_
472,490
_
487,342
4,971
-
_
492,313
_
(19,823)
19,697
_
(126)
126
_
-
======		 Total Funds
Year to
31/05/21
£
418,760
360
22
71,004
_
490,146
_
509,792
9,190
-
_
518,982
_
(28,836)
-
_
(28,836)
61,120
_
32,284
======

_

_




=		 Unrest
Funds
£
8,750
240
49
-
_

9,039
______
_
14,127
4,237
-
_

18,364
______
_
(9,325)
(20,359)
_

(29,684)
24,228
____
_
(5,456)
=====
=		 Desig

Funds
£
-
-
-
-
__

-
______

-
-
-
_

-
______

-
-


-
8,056
___

8,056
=====
Restrict
Funds
£
355,113
-
-
-
_
355,113
_
366,670
8,802
-
_
375,472
_
(20,359)
20,359
_
-
-
_
-
======

There were no other recognised gains or losses in respect of the period to 31[st] December 2021 and the year to 31[st] May 2021, other than those reflected in the statement of financial activities.

There were no movements on reserves other than those reflected in the statement of financial activities. The notes on pages 8 to 15 form part of these accounts.

6.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

BALANCE SHEET AS AT 31[ST] DECEMBER 2021 (COMPANY NO: 5662830)

As at 31st December As at 31st December 2021 As at 31st May 2021
Note £ £
£		 £
Fixed Assets 7 501 656

Current Assets
Stock of publications 100 100
Debtors 8 153,547 232,624
Cash at Bank 175,461 43,592
_ _
329,108 276,316
Creditors: Amounts
Falling Due in One Year 9 327,009 244,688
_ _
Net Current Assets 2,099 31,628
_ _
Total Assets less Current Liabilities,
being Net Assets 2,600 32,284
====== ======
Capital
Unrestricted Funds (5,456) 24,228
Designated Funds 10 8,056 8,056
Restricted Funds 11 - -
_ ______
14 2,600 32,284
====== ======

The directors are satisfied that the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 and that members have not required an audit in accordance with Section 476. However, an audit is required in accordance with Section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for:-

  1. ensuring that the company keeps accounting records which comply with Section 386; and 2. preparing accounts which give a true and fair view of the state of affairs of the charitable company as at the end of the financial period and of its profit or loss for the financial period in accordance with the requirements of Section 396 and which otherwise comply with the requirements of the Act relating to accounts, so far as applicable to the charitable company.

Approved by the Board of Directors and Trustees on ………………………………… 2022 and signed on its behalf by:

………………………………… H. W. Storm

The notes on pages 8 to 15 form part of these accounts.

7.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

STATEMENT OF CASH FLOWS AS AT 31[ST] DECEMBER 2021

Period to Year to Year to
December May
2021 2021
£
£		 £ £
Reconciliation of changes in resources
to net cash inflow from operating activities
Net (outgoing) resources for the period/ year (29,684) (28,836)
Depreciation charged 155 490
Decrease/ (Increase) in debtors 79,077 (107,716)
Increase in creditors 82,321 98,881
_ _
161,553 (8,345)
_ ______
Net cash inflow/ (outflow) from operating activities 131,869 (37,181)
Investing activities
Purchase of tangible fixed assets - -
_ _
- -
_ ______
Increase/ (Decrease) in cash in the period 131,869 (37,181)
Cash and cash equivalents at the beginning of the period 43,592 80,773
_ _
Cash and cash equivalents at the end of the period 175,461 43,592
====== ======
Cash and cash equivalents comprise:
Cash at bank 175,461 43,592
====== ======

8.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

1. Accounting Policies

(a) General Information

These financial statements have been presented in Pounds Sterling as this is the currency of the primary economic environment in which the Company operates.

(b) Basis of preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); the Charities Act 2011 and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

(c) Activities

The financial statements include the results of the charity's operations as described in the directors’ and trustees’ annual report.

(d) Income recognition

Income of all kinds is accounted for when receivable, i.e. in the period in which the charity is entitled to receipt, it is probable that the income will be received and the amount of income receivable can be measured reliably.

No permanent endowments have been received in the period.

(e) Expenditure recognition

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 settlement will be required and the amount of the obligation can be reliably measured.

Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to the category.

All core cost categories are regarded as being of a support nature to the Charity’s principal activity, as described in the Annual Report. It is anticipated that any future specific projects will be covered by restricted funds – i.e. funds raised specifically for that project.

9.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

1. Accounting Policies (cont’d)

(f) Grants payable

Grants payable are payments made to third parties, either individuals or other charitable organisations, in the furtherance of the charity’s objects. In the case of unconditional grant offers, these are accrued once the recipient has been notified of the award. Conditional grants are only accrued when the conditions have been fulfilled and the recipient notified.

No multi-year grants are made, other than where additional funding has been received through a restricted fund.

(g) Value added tax

Value added tax is not recoverable by the Charity, and as such is included in the relevant costs in the statement of financial activities.

(h) Pension costs

The charity operates a defined contribution pension scheme in respect of employees. The Scheme’s assets are held by independent managers. The pension charge represents the amounts payable by the charity to the scheme in respect of the year.

(i) Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

(j) Tangible Assets and Depreciation

Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided on assets to write off their cost over their estimated useful lives on a reducing balance basis. The rates currently in use are as follows:

Office Equipment - 25% Computer Equipment - 50%

(k) Financial assets – classified as basic financial instruments

i) Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held with banks, and other short term highly liquid investments with original maturities of three months or less.

ii) Trade and other receivables

Trade and other receivables that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

iii)Trade and other payables

Trade and other payables that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.

(l)

Fund accounting

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the objects of the charity, as defined in the constitution.

Designated Funds are those set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

Restricted Funds are those given for particular purposes and projects.

10.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

1. Accounting Policies (cont’d)

(m) Going concern

The financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors/trustees have carefully considered these risks, including an assessment of uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements.

The directors/trustees have concluded that the going concern basis remains appropriate.

(n) Covid 19 issues

The year ended 31[st] May 2021 and period ended 31[st] December 2021 have been significantly affected by the international pandemic. Staff have been furloughed where possible, and expenditure minimised to the lowest practical level without prejudicing the services able to be provided for students. Moving the PhD courses to an online platform is not always practical for all students and therefore certain students have had to delay their studies as a result.

It is anticipated that the full program of activities will resume immediately international Covid 19 protocols permit. In the meantime, the Trustees believe that sufficient funding is in place to support the Charity in its mission for the foreseeable future.

(o) Translation of Foreign Currencies

Monies received and expended in foreign currencies are accounted for at the rate of exchange prevailing at the date of the transaction.

(p) Operating Leases

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor, are reflected in the statement of financial activities as incurred.

(q) Donated services

Where services are provided to the charity as a donation that reflects costs that normally would be purchased from suppliers, this contribution is included in the financial statements at an estimate based upon the value deemed attributable to it by the charity.

2. Income and endowments

The Trustees wish to express their sincere gratitude to all donors who have enabled the Charity’s work to continue.

Significant funding was received as follows:

Received From £ Purpose
Nexcus International 361,590 Academic programs
Nexcus International 8,750 Rent and Services (donated in kind)
======

Nexcus International was previously known as Christian Relief International.

11.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

3. Costs incurred in Furtherance of the Charity's Objects

Program Support Costs
Staff costs
Printing/postage/stationery/advertising
Travel/accommodation/subsistence
Office Rent and Services
Telephone and internet
PhD Expenses
Website maintenance/ Marketing
Bad debts
Insurance
Legal and professional

 Unres-
Res-
tricted
tricted
Funds
Funds
£
£
-
215,208
-
1,311
-
29,492
8,750
-
2,463
583
-
87,317
-
5,974
-
26,785
2,914
-
-
-
_
_____
14,127
366,670
=====
======		 Total
Unres-
Res-
7 months
tricted
tricted
to Dec
Funds Funds
2021
£
£
£
215,208
-
281,595
1,311
-
2,121
29,492
-
630
8,750 15,000 -
3,046
3,696
1,000
87,317
- 179,020
5,974
-
15,893
26,785
-
5,595
2,914
3,254
-
-
500
1,488
_
_ ______
380,797 22,450 487,342
====== ===== ======		 Total
Year to
May
2021
£
281,595
2,121
630
15,000
4,696
179,020
15,893
5,595
3,254
1,988
______
509,792
======

No costs were borne by the Designated Fund in either the 7 months to 31[st] December 2021 or year ended 31[st] May 2021.

4. General Support Costs

Auditor’s fees - Audit
- Other services
Bank charges
Sundry expenses
Depreciation		 Unres-
tricted
Funds
£
1,978
2,162
-
20
77
_____
4,237
====		 Res-
tricted
Funds
£
467
233
2,175
5,849
78
_____
8,802
====		 Total
7 months
to Dec
2021
£
2,445
2,395
2,175
5,869
155
_____
13,039
=====		 Unres-
tricted
Funds
£
1,800
1,967
-
208
244
______
4,219
=====		 Res-
tricted
Funds
£
800
400
2,472
1,055
244
_____
4,971
=====		 Total
Year to
May
2021
£
2,600
2,367
2,472
1,263
488
_____
9,190

====

No costs were borne by the Designated Fund in either the 7 months to 31st December 2021 or year ended 31st May 2021. .

12.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD

ENDED 31[ST] DECEMBER 2021

5. Staff Numbers and Costs

Staff Numbers and Costs

The average number of personnel employed by the charity,
excluding the Director/ Trustees, was as follows:-
Academic and associated personnel
The costs attaching to these personnel during the year were:-
Salaries
National Insurance Costs
Pension Costs
Staff training
Staff recruitment
Staff relocation costs		 7 months
to Dec
2021
No.
6.5
======

£
153,277
15,331
5,678
553
32,275
8,094
_

215,208
======
 Year to
May
2021
No.
6.5
======
£
249,045
23,566
8,984
-
-
-
_
281,595
======

6. Result for the Period
Result for the Period
The result for the period is stated after charging:
Depreciation
Auditor’s Fees - Audit
- Other services
Bank Interest and charges		 Year
to 31/12/21
£
155
2,445
2,395
2,176
======		 Year
to 31/05/21
£
488
2,600
2,367
2,472
======

6(a). Transfers between Funds

The transfers for both the May 2021 year and December 2021 period were from unrestricted funds to restricted funds to cover the shortfalls in funding for the Academic Program.

13.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

7.
8.		 Tangible Fixed Assets
Cost
Brought forward 01.06.21
Additions
Disposals
Carried forward 31.12.21
Depreciation
Brought forward 01.06.21
Charge for the period
Depreciation on disposals
Carried forward 31.12.21
Net Book Value
at 31.12.21
at 31.05.21
All tangible fixed assets are used directly for charitable purposes.
Debtors
Scholar debtors
Prepayments and accrued income
Sundry debtors		 Office
Equipment
£
8,076
-
-
_
8,076
======
7,420
155
-
_
7,575
======
501
======
656
======
As at
31/12/21
£
28,734
124,020
793
_
153,547
======		 Total
£
8,076
-
-
_
8,076
======
7,420
155
-
_
7,575
======
501
======
656
======
As at
31/05/21
£
91,297
140,534
793
_
232,624
======

In view of the coronavirus pandemic, it is considered that the majority of the scholar debtors should be considered as receivable after more than one year from the balance sheet date.

9. Creditors: Amounts Falling Due in One Year
Operation costs creditors
Trustee reimbursements outstanding (note 15)
Accruals and deferred income
Other taxes and social security		 As at
31/12/21
£
289,315
853
31,684
5,157
_
327,009
======		 As at
31/05/21
£
222,995
853
15,229
5,611
______
244,688
======

14.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

10. Designated Funds

These funds, originally restricted to publishing a specific book, have now been transferred to a more general publishing activities fund, with the full permission of the original donor.

11. Restricted Funds

Funds-
Academic Programmes
_
 Balance
01/06/21
£
-
______
-
======		 Movement in Resources
Incoming
Outgoings
& Transfers & Transfers

£
£
375,472
375,472
_
_
375,472
375,472
======
======		 Movement in Resources
Incoming
Outgoings
& Transfers & Transfers

£
£
375,472
375,472
_
_
375,472
375,472
======
======		 Balance
31/12/21
£
-
_
-
======		 Balance
Incoming

Transfers
£
375,472
_
375,472
======

12. Reconciliation of Movement in Shareholders' Funds

The Oxford Centre For Religion & Public Life, being a company limited by guarantee and a registered charity, has no shareholders; it is, therefore, inappropriate to include a reconciliation of the movements in shareholders' funds.

13. Share Capital

The Oxford Centre For Religion & Public Life is limited by guarantee and does not have a share capital.

14. Analysis of Net Assets between Funds

Restricted Funds
Unrestricted Funds
Designated Funds
__
=		 Fixed
Assets
£
-
501
-
_____
501
=====		 Net Current
Assets
Total
£
£
-
-
(5,957)
(5,456)
8,056
8,056
_
_
2,099
2,600
======
======
_
=

15.

THE OXFORD CENTRE FOR RELIGION & PUBLIC LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] DECEMBER 2021

15. Related Party Transactions

Two of the Trustees, Reverend Canon Dr V K Samuel and Reverend Canon Dr C M N Sugden, travel extensively overseas in fulfilling the Charity’s work and, as a result, incur substantial travel, subsistence and accommodation costs on the Charity’s behalf. These expenses are generally expended personally, and reimbursed on return to the UK. At the period end date £853 had yet to be reimbursed to them; this amount is reflected under creditors falling due in one year.

16. Operating Lease Commitments

The Charity has no ongoing commitment in respect of premises rent for office space and services. Such costs are covered by a donation in kind from Nexcus International (formerly known as Christian Relief International).

17. Contingent Liabilities

The Trustees consider there are no contingent liabilities at 31[st] December 2021.