## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD COMPANY NO. 6717794 (ENGLAND AND WALES)**
**A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL**
**REGISTERED CHARITY NO. 1143311**
## **FINANCIAL STATEMENTS**
**FOR THE PERIOD ENDED 31[ST] MAY 2021**
## **KING LOOSE & CO INDEPENDENT EXAMINERS**
**ST JOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN OXFORD OX2 7JL**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD**
## **FINANCIAL STATEMENTS**
## **FOR THE PERIOD ENDED 31[ST] MAY 2021**
## **CONTENTS**
||**Page**|
|---|---|
|Legal and Administrative Information|**1**|
|Trustees’ Annual Report|**2**|
|Statement of Trustees’ Responsibilities|**3**|
|Independent Examiner’s Report|**4**|
|Statement of Financial Activities|**5**|
|Balance Sheet|**6**|
|Notes to the Financial Statements|**7 -13**|
**1.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD**
## **FINANCIAL STATEMENTS**
## **FOR THE PERIOD ENDED 31[ST ] MAY 2021**
## **ADMINISTRATIVE INFORMATION**
**Directors and Trustees** Dr. M. J. Nazir-Ali Rt. Reverend A. Marshall Reverend Canon Dr. C. M. N. Sugden Canon C. Madhukar Reverend Canon Penelope Avann Reverend K A Carpani **Company Number** 6717794 (England and Wales) **Charity Number** 1143311 **Registered Office** 5 South Parade Summertown Oxford OX2 7JL **Independent Examiner** Mrs H C Fanthome FCA King Loose & Co St John's House 5 South Parade Summertown Oxford OX2 7JL
**2.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD**
## **ANNUAL REPORT FOR THE PERIOD ENDED 31[ST] MAY 2021**
The Directors and Trustees present their annual report and financial statements, for the period ended 31[st] May 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. Charitable status was obtained on 12[th] August 2011.
The Charity's object and its principal activity is that of the promotion of religion through training, research, advocacy and dialogue and in particular by
- a) promoting and conducting research and disseminating the useful results thereof.
- b) the promotion of religious harmony for the benefit of the public by;
- (i) educating the public in different religious beliefs including an awareness of their distinctive features and their common ground to promote good relations between persons of different faiths;
- (ii) promoting knowledge and mutual understanding and respect of the beliefs and practices of different religious faiths.
The Charity helps younger people in business and employment, including education and vocational training.
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 in particular through its work in community harmony.
## **Organisation of Our Work**
The Charity is organised so that the Trustees meet and converse regularly to manage its affairs.
## **Developments and Achievements**
The Trustees consider that the performance of the Charity in these early years of activity has been satisfactory. The Charity has set the building blocks for the promotion of its objects and liaises with other charitable organisations to this end.
## **Future Developments**
The Trustees hope to continue to build upon the foundations laid in these initial periods of activity.
## **Transactions and Financial Position**
The statement of financial activities shows net incoming general (i.e. unrestricted) resources of £22,752 for the period (year to 31[st] May 2020: incoming £47,821), and the general unrestricted fund balance carried forward stood at £207,681.
## **Funds Available**
The present level of funding is believed adequate to support the continuation of the work programs envisaged, although further support is necessary for future projects to be undertaken.
**2(a)**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD ANNUAL REPORT FOR THE PERIOD ENDED 31[ST] MAY 2021**
## **Co-operative Relationships with Other Organisations**
The Oxford Centre For Training, Research, Advocacy and Dialogue Ltd 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.
## **Reserves Policy**
It is the policy of the charity to build up sufficient unrestricted funds, which are the free reserves of the Charity, to a level which equates to approximately three months unrestricted expenditure. This will provide sufficient funds to cover the ongoing promotion of the Charity’s objects, together with the associated support and administration costs. At 31[st] May 2021, reserves were at a higher level than the set target, but the Trustees consider this temporarily more appropriate in the current difficult financial climate.
## **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.
## **Independent Examiners**
Mrs H C Fanthome of King Loose & Co, has agreed to offer herself for appointment as Independent Examiner to the Charity.
## **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:
…………………………………………… **Dr M J Nazir-Ali (Trustee)**
**3.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE PERIOD ENDED 31[ST] MAY 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:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the applicable Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
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**
……………………………………… **Dr M J Nazir-Ali**
**4.**
## **REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD**
I report to the charity trustees on my examination of the accounts of the company, for the period ended 31[st] May 2021, which are set out on pages 5 to 13.
## **Respective responsibilities of the trustees and examiner**
As the charity’s trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity, and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’, and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
(2) the accounts do not accord with those accounting records; or
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**King Loose & Co St John’s House 5 South Parade Summertown Oxford OX2 7JL**
**………………………. H.C. Fanthome FCA ……………………. Dated**
**5.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31[ST] MAY 2021 SUMMARY INCOME AND EXPENDITURE ACCOUNT**
|**Income and endowments from:**
General Donations and Grants
Speaking Fees, Expenses & Travel Reimb.
Investment Income
**Total Income and endowments**
**Expenditure on:**
**Charitable Activities**
Costs incurred in Furtherance
of the Charity's Objects
Grants Expended
Other Support Costs
**Total Resources Expended**
Net Income for the period
Before transfers
Transfers between Funds
**Net Movement in Funds**
Fund Balances B/fwd
**Fund Balances C/fwd**|**Note**
2
3
4
5
8|**Unrestricted**
**Funds**
**2021**
**£**
101,569
315
9
_______
101,893
_______
72,663
788
5,690
_______
79,141
_______
22,752
-
_______
22,752
184,929
_______
207,681
======|**Restricted**
**Funds**
**2021**
**£**
117,639
-
-
_______
117,639
_______
-
28,551
-
_______
28,551
_______
89,088
-
_______
89,088
62,609
_______
151,697
======|**Total**
**Funds**
**Year to**
**31/05/21**
**£**
219,208
315
9
_______
219,532
_______
72,663
29,339
5,690
_______
107,692
_______
111,840
-
_______
111,840
247,538
_______
359,378
======|**Unrestricted**
**Funds**
**2020**
**£**
133,397
2,413
104
_______
135,914
_______
65,838
1,686
5,100
_______
72,624
_______
63,290
(15,469)
_______
47,821
137,108
_______
184,929
======|**Restricted**
**Funds**
**2020**
**£**
83,858
-
-
_______
83,858
_______
24,416
31,306
-
_______
55,722
_______
28,136
15,469
_______
43,605
19,004
_______
62,609
======|**Total**
**Funds**
**Year to**|**Total**
**Funds**|
|---|---|---|---|---|---|---|---|---|
|||||||_
_
_
_
_
_
=|||
||||||||**31/05/20**||
||||||||**£**
217,255
2,413
104
_______
219,772
_______
90,254
32,992
5,100
_______
128,346
_______
91,426
-
______
91,426
156,112
______
247,538
======||
There were no other recognised gains or losses in respect of 2021 and 2020, other than those reflected in the statement of financial activities. The notes on pages 7 to 13 form part of these accounts.
**6.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD BALANCE SHEET AS AT 31[ST] MAY 2021 (COMPANY NO: 6717794)**
|**Note**
**£**
**Fixed Assets**
**Current Assets**
Stock
350
Cash at Bank
377,744
_______
378,094
**Creditors**: Amounts
Falling Due in One Year
10
18,716
**_______**
**Net Current Assets**
**Total Assets less Current Liabilities,**
**being Net Assets**
**Funds**
Unrestricted Funds
Restricted Funds
12
Total Funds
13|**31st May 2021**
**31st May 2020**
**£**
**£**
**£**
-
-
350
271,198
_______
271,548
24,010
**_______**
359,378
247,538
_______
_______
359,378
247,538
======
======
207,681
184,929
151,697
62,609
_______
______
359,378
247,538
======
======|**31st May 2020**|
|---|---|---|
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.
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:**
## ………………………………… **Dr M J Nazir-Ali**
The notes on pages 7 to 13 form part of these accounts.
**7.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] MAY 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 Charity 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.
The charity has taken advantage of the exemption to prepare a cash flow statement, as contained in Financial Reporting Standard 1, on the grounds that it is a small charity.
## **(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.
**8.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] MAY 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) 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.
## **(i) 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.
Restricted Funds are those given for particular purposes and projects.
## **(j) 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.
## **(k) 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.
Assets and liabilities denominated in foreign currencies, which are held or owed at the balance sheet date, are converted at the exchange rate prevailing at that date. Differences on foreign exchange are reported in the Income and Expenditure Account.
**9.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] MAY 2021**
## **1. Accounting Policies (cont’d)**
## **(l) 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.
## **(m) Pensions**
The company previously operated a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
The relevant scheme was the Church of England Funded Pensions Scheme. Since August 2019, the pension has been in drawdown and no further contributions are payable.
## **(n) True and Fair Override**
- Under FRS 102, the recognition of pension costs under The Church of England Funded Pensions Scheme, as explained in note (m) above, is no longer considered appropriate. However, the Trustees consider that, in order for the accounts to show a true and fair view, pension costs being reflected as the payments made in the year remains the appropriate disclosure.
Previous to August 2019, agreement had been reached with The Church of England Pensions Board such that any projected pensions funding shortfall would be paid over a number of years, together with the usual annual contributions. Incoming funding to the Charity was sought to cover this budgeted additional expense, again on an annual basis, and thus the overall matching of income and outgoing resources was both consistent, and a better indicator of the careful stewardship of the Charity’s resources.
## **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**|
|---|---|---|
|Stichting Salt|83,800|Restricted|
|R Wickham|11,500|Restricted|
|Good News|6,000|Restricted|
======
**10.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] MAY 2021**
## **3. Costs of Activities in Furtherance of the Charity's Objects**
|**Program Costs**
Salaries and associated costs
Printing/postage/stationery/advertising
Travel/accommodation/subsistence
Telephone and internet
(Profit)/loss on exchange
Office costs (inc donated services)
__
=|**Unres-**
**tricted **
**Funds**
**£**
23,617
827
7,797
740
24,482
15,200
_____
72,663
=====|**Unres-**
**Restricted**
**Total**
**tricted **
**Funds**
**2021**
**Funds**
**£**
**£**
**£**
-
23,617 38,508
-
827
641
-
7,797 15,496
-
740
902
-
24,482
(4,709)
-
15,200 15,000
_______ _______ ______
-
72,663 65,838
====== ====== =====|**Restricted**
**Total**
**Funds**
**2020**
**£**
**£**
-
38,508
-
641
24,416
39,912
-
902
-
(4,709)
-
15,000
______
______
24,416
90,254
=====
=====|**Total**|
|---|---|---|---|---|
|||__
=|||
## **Office Costs**
The Trustees of The Oxford Centre for Training, Research, Advocacy and Dialogue Ltd are indebted to Christian Concern for providing office space and administrative support during the year, free of charge. The value placed on these services by the Trustees is £15,000 p.a. The income equivalent of these donated services is recognised within incoming resources as voluntary income (general donations) and the equivalent notional charge is reflected under Program costs above.
## **4. Grants Expended**
|**Grants Expended**
The following grants were expended:
To Organisations
To Individuals
Theological Education Grants
__
=|**Unres- **
**tricted **
**Funds**
**£**
-
-
788
_____
788
=====|**Restricted**
**Total**
**Funds**
**2021**
**£**
**£**
3,564
3,564
24,987
24,987
-
788
_______ _______ _
28,551
29,339
====== ======|**Unres- **
**tricted **
**Funds**
**£**
-
694
992
_____
1,686
=====|**Restricted**
**Total**
**Funds**
**2020**
**£**
**£**
25,072
25,072
6,234
6,928
-
992
______
______
31,306
32,992
=====
=====|**Total**|
|---|---|---|---|---|---|
## **5. Other Support Costs**
|**Other Support Costs**|||||||
|---|---|---|---|---|---|---|
|Independent Examiner’s fees
- independent exam
- accountancy etc
Sundry expenses
Bank charges
__
=|**Unres-**
**tricted **
**Funds**
**£**
1,000
4,028
383
279
_____
5,690
=====|**Restricted**
**Funds**
**£**
-
-
-
-
_______ __
-
====== ==|**Total**
**2021**
**£**
1,000
4,028
383
279
_____ _
5,690
====|**Unres-**
**tricted **
**Funds**
**£**
1,000
3,440
174
486
_____
5,100
=====|**Restricted**
**Funds**
**£**
-
-
-
-
______
__
-
=====
=|**Total**|
|||__
=|||_
|**2020**
**£**
1,000
3,720
174
486
____
5,100
====|
**11.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] MAY 2021**
## **6. Staff Costs**
The average number of personnel employed by the charity was as follows:
||**2021**|**2020**|
|---|---|---|
||**No.**|**No.**|
|Program and administrative personnel|3|3|
||===|===|
|The aggregate payroll costs of these employees was as follows:-|||
||**2021**|**2020**|
||**£**|**£**|
|Salary costs|23,617|33,351|
|Employer’s National Insurance (net of Emp. Allowance)|-|1,563|
|Pension contributions|-|3,594|
||______|______|
||23,617|38,508|
||======|======|
- a) No employee received emoluments in excess of £60,000 pa.
- b) One of the Trustees, Rt Reverend Dr M J Nazir-Ali, receives a salary from the charity for his post as Executive Director; the payment of such functional salary has been approved by the Charity Commissioners.
Mrs V Nazir-Ali, wife of the above, also receives a small salary for her role as administrative and pastoral support.
c) No expenses are paid to any Trustees; reimbursements are made where overhead items have been initially expended by the Trustees on behalf of the Charity.
|**7.**|**Result for the Period**
**2021**
**2020**
**£**
**£**
**The surplus of income over expenditure**
**is stated after charging:**
Independent Examiners Remuneration
- for examination services
1,000
1,000
- for other services
4,028
3,440
Bank Interest and charges
279
486
======
======|**2020**|
|---|---|---|
## **8. Transfer between Funds**
For the 2020 year, a transfer was made from unrestricted funds to restricted funds, in relation to the otherwise unfunded balance for the Medical Consultation which took place in February 2020.
There were no transfers for the 2021 year.
**12.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] MAY 2021**
## **9. Pension Costs**
## **Position until August 2019**
The Church of England Funded Pensions Scheme is a defined benefit scheme but The Oxford Centre for Training, Research, Advocacy and Dialogue Ltd is unable to identify its share of the underlying assets and liabilities – each employer in that scheme pays a common contribution rate.
Periodically, the scheme is valued and adjustments made to the employer’s contribution rate as deemed necessary.
For schemes such as The Church of England Funded Pensions Scheme, previous reporting standards (paragraph 9(b) of FRS 17) required the employer to account for pension costs on the basis of contributions actually payable to the scheme in the year.
Under FRS 102, the recognition of pension costs as explained above is no longer considered appropriate. However, the Trustees consider that, in order for the accounts to show a true and fair view, pension costs being reflected as the payments made in the year remains the appropriate disclosure.
Previous to August 2019, agreement had been reached with The Church of England Pensions Board such that any projected pensions funding shortfall would be paid over a number of years, together with the usual annual contributions. Incoming funding to the Charity was sought to cover this budgeted additional expense, again on an annual basis, and thus the overall matching of income and outgoing resources would be both consistent, and a better indicator of the careful stewardship of the Charity’s resources.
## **Position from August 2019**
Since August 2019, the pension has been in drawdown and no further contributions are payable.
|**10.**|**Creditors: Amounts Falling Due in One Year**
**2021**
**2020**
**£**
**£**
Accruals and sundry creditors
18,716
24,010
_______
_______
18,716
24,010
======
======|
|---|---|
## **11. Share Capital**
The Oxford Centre For Training, Research, Advocacy And Dialogue Ltd is a charitable company limited by guarantee and does not have a share capital.
**13.**
## **THE OXFORD CENTRE FOR TRAINING, RESEARCH, ADVOCACY AND DIALOGUE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[ST] MAY 2021**
|**12.**|**Restricted Funds**|||||
|---|---|---|---|---|---|
|||**Balance b/fwd**|**Incoming**|**Outgoings **|**Balance c/fwd**|
|||**1/6/20 **|**& transfers**|**& transfers**|**31/5/21**|
|||**£**|**£**|**£**|**£**|
||Fund for the Relief of Persecuted Christians|||||
||and others|16,794|10,661|16,511|10,944|
||Scholarships & courses|631|500|-|1,131|
||New Humanum Group|-|800|-|800|
||“Pass Through” Funding|-|11,500|11,500|-|
||Diocese of Raiwind|45,184|93,638|-|138,822|
||CCFE Letter to Headteachers|-|540|540|-|
|||______|______|______|______|
|||62,609|117,639|28,551|151,697|
|||=====|=====|=====|=====|
## **Fund for the Relief of Persecuted Christians**
These funds were substantially given by Good News Evangelical.
## **Scholarships and Courses**
The involvement with young people here includes education and vocational training.
## **Pass Through Funding**
This included 3 donations onward transmitted to Zimbabwe and 1 donation forwarded on to Iraq.
## **Diocese of Raiwind**
This effectively represents Pass Through money to support a Technical Training Institute in Pakistan. Incoming funding came predominantly from Stichting Salt and Open Doors during the year.
## **13. Analysis of Net Assets between Funds**
|Restricted Funds
Unrestricted Funds
__
=|**Fixed **
**Assets**
**£**
-
-
_____
-
=====|**Net Current**
**Assets**
**Total**
**£**
**£**
151,697
151,697
207,681
207,681
_______
_______
359,378
359,378
======
======|
|---|---|---|
## **14. Commitments**
In the opinion of the Trustees, there were no outstanding commitments at 31[st] May 2021.