Wycliffe Hall Annual Report and Financial Statements Year ended 30 June 2021 Charity number: 1156892 Company number: 09007970 WfCLIFFE HALL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 30 JUNE 2021 Contents Page Hall Council, Offi￿rS and Advisors 3- 11 Trustees, Report 12-15 Auditors, Report 16-17 Consolidated Statement of Financial Activities Consolidated Balance Sheet Company Balance Sheet 20 Consolidated Statement of Cash Flows Statement of Accounting Policies 24-34 Notes to the Financial Statements Wycliffe Hall Hall Councll, Officers and Advisor$ Year ended 30 June 2021 MEMBERS OF THE HALL COUNCIL The members of the Hall Council are the Directors and Members of the charitable company and are trustees for the purposes of charity law. Throughout this report they are collectively referred lo as the trustees. The following served as members of the Hall Council during the year lor subsequently).. Rt Revd Julian Henderson Chair ex officio Revd Em Coley Mrs Alison Coulter Mr Peter Doyle Mrs Sarah Finch Treasurer and VK8-Ch2ir Chair Dr Philip Giddings Very Revd John Irvine Revd Dr James Kennedy Mr Paul Lindon Chair Chair Revd Canon Frederick Kilner Mr Simon McGuire R88uned November 2020 Revd Ann Templeman Chair Membership of Hall Council sub-committees during the year is shown above for each trustee. Wycliffe Hall Hall Council, Officers and Advisors Year ended 30 June 2021 SENIOR MANAGEMENT The Principal is appointed by the Hall Council lo oversee the management of the Hall and he is assisted by the Senior Management Team. Principal Revd Dr Michael Lloyd Vice-Principal & Academic Dean Revd Or Justyn Terry Bursar Mr lan Barnetson Director of Welfare and Spiritual Formation & Dean for Women Revd Dr Elizabeth Hoare Senior Tutor Mrs Katy Routh {From 1* October20201 ADVISORS The following acted as advisors in the peri(xl under review.. Auditors". Crilchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX12EP Bankers.. The Royal Bank of Scotland 32 Sl Giles Oxford OX1 3ND Solicitors.. 88tes Wells Braithwaite London LLP 10 Queen St Place London EC4R 18E Address and registered office for Companies House purposes.. Wycliffe Hall 52-54 Banbury Road Oxford OX2 6PW Website.. www.wycliffe.ox.ac.uk Wycliffe Hall Trustees, Report Year ended 30 June 2021 The Trustees present their annu81 report under the Charities Act 2011 together with the consolidated financial slalemenls of Wycliffe Hall I'the Hall") for the year ended 30 June 2021, which are also prepared to meet the requirements for a directors, ￿pOrt and accounts for Companies Act purposes. REFERENCE & ADMINISTRATIVE INFORMATION Wycliffe Hall is a company limited by guarantee Icompany Number 090079701 and is registered with the Charity Commission. charity number 1156892 and is incorporated in the United Kingdom. Wycliffe Hall was incorporated on 23 April 2014 and registered with the Charity Commission on 1 May 2014. On 1 July 2014, all the assets, liabilities. and staff of the unincorporated Wcliffe Hall trust (charity registration number 3097031 were transferred to this new company. Wycliffe Hall is a Permanent Private Hall of the University of Oxford. STRUCTURE. GOVERNANCE & MANAGEMENT Constltutlon The Hall is governed by Articles of Association dated 23 April 2014 and is a charitable company limited by guarantee. Governance The Hall Council continues to review its govemance proCedU￿S In the past, this ha5 included legal structure, trustee appoinlmenl, induction and term of off5￿, responsibilities and review of its own procedures and policies. Organlsational Management The Hall Council normally meets four limes a year and ils meetings are attended by the Principal and other members of the Senior Management Team, together with the President 8nd Presidenl-elecl of the Common Room. To ensure that the Hall Council fulfils its fiduciary duty of full involvement in setting the strategic direction and the monitoring and evaluation of ils activities. the Council has established several formal sub-commillees. This enable5 the Council lo discharge ils duties and responsibilities in these areas in a more effective way, bul does not absolve the Council from its collective responsibilities,. rather it enables a small group to give more detailed consideration lo these matters and then lo report to the whole Council. 111 Finance Committee This approves a draft budget for presentation to the Council and keeps the developing life of the Hall under review, making recommendations lo the Council in adminislralive, financial and policy areas. 121 Education Committee This reviews the teaching, training and formation of all students and considers major decisions on education and training which may affect the Hall's relationship with Ministry Team andlor the University of Oxford and other major stakeholders. 13) Governance & Nominations Committee This recommends candidates for membership of the Council (for election by the Council as a whole) as vacancies arise and recommends improvements lo the governance arrangements of the Hall. Wycliffe Hall Trustees, Report Year ended 30 June 2021 141 Development Committee This determines Development priorities and targets, ensuring that the Hall's overall Development activities are kept under review, including Complian￿ with the Code of Fundraising Practice. A meeting of sub-committee chairs lakes place immedi8leW prior lo each Hall Council meeting lo brief the Chair and ensure that Council business is conducted as efficiently as possible. The Senior Management Team meets every weeks. Those academic stsff who hold employment contracts with Wycliffe Hall andlor have responsibility for a Fellowship Group also meet fortnightly in lem lo contribute lo the management of the Hall. Group Structure and RelationshSps By a scherlle dated 16 December 2014, the Charity Cornmission appointed Wcliffe Hall as sole corporate Iruslee of the predecessor trust Wycliffe Hall (charity number 3097031. This included transfer of tille ID the Hall's main building152-54 Banbury Road) which is a permanent endowment. The Vvycliffe Hall trust continues lo exist bul is essentially dormant.. its only future activity will be if the trust receives legacies. Vvycliffe Hall has wholly owned non-charitable trading subsidiaries, whose profits are donated lo the Hall under the Gift Aid scheme.. Wycliffe Hall Services Ltd IVVHSLI is in¢orporaled in the United Kingdom and manages the provision of services outside the charitable objects of Wycliffe Hall. cliffe Hall Development Ltd IVVHSLI was incorporated in the United Kingdom during the year and manages development of sludenl accommodation on the main sile. Risk Management The Hall has on-going processes which operated through-out the financial year for identifying. evaluating, and managing the principal risks and uncertainties faced by the Hall and its subsidiaries in Ljndertaking its activities. The Hall has developed systems to monitor and control these risks lo mitigate the impact they may have on the Hall's future, and these are overseen by the Finance Committee. The Hall Council, which has ultimate responsibility for managing any risks fa￿d by the Hall, has reviewed the processes in place lor managing risk and the principal Identified risks to which the Hall and ils subsidiaries are exposed and have concluded that adequate systems are in place to manage these risks. A risk register is updated and reviewed each year by Hall Council, most re￿ntlY in May 2021 Finance Commiitee review this six-monthly and each month the Senior Management Team review the status of one of the key risk categories. The most significant risks identified by the Council are associated with student recruitment lo the various courses and training programmes offered by the H811. Efforts continue lo be invested in expanding income generating opportunities. Wycliffe Hall Trustees, Report Year ended 30 June 2021 OBJECTIVES & ACTIVITIES Charitable ObJe¢ts The Objects of the Hall as slated in the Articles of Association a￿.. 111 To provide theological instruction consislenl with the principles of the Church of England lo candidates for ordination and, subject thereto, to provide theological education Iwilh a preleren¢e for individuals who are undertaking a course of study in theology or who have been ordained). 121 In carrying out its obje¢ls the Charity may provide accommodation ft)r students. Actlvities and Objectives of the Hall The Hall's principal activity, as described above, is the provision of theological instruction and ministerial training. The Hall continues to provide ministerial training lo Church of England ordinands, as well as others from a wide variety ofdifferenl church backgrounds. Each year, Wycliffe Hall admits undergraduate and postgraduate students to study Theology and related disciplines. The Hall has a vision lo see the nations transformed by the gospel by renewing Christian leaders in prayer, character, preaching and thinking. To achieve this, we are commilled lo.. Train lifglong disciple m8kers... by equipping a generation of ordained and lay leaders with gospel-centred knowledge, character formation, and pastoral skills through a fftnge of carefully designed courses, qualifi'cations. and training progr2mmes. in Community.. by bringing qualifying students to worship, live and study together, regardless of background or financial constraints, through the provision of a portfolio of bursaries and scholarships with excellent BIble￿ntr8d teaching.. by enabling tutors to undertake further study to enrich their teaching through establishing endowments for faculty scholarships in biblical studies.. history, theology and ethics., mission, 8pologelics, liturgy and ministry., and in Evangelicalism. in a thought-provoking city,. by providing affordable, quality accommodation and 21 St Century facilities in the Centre of Oxford with access to all the cultural, sporting, academic, and missional opportunities which the City and University provide. A significant number of students are admitted each year lo the one-year Cerbficale in Theological Studies ICTSI, offered through the Oxford University Department of Continuing Education. Some students complete the course part-lime over years," others conb'nue lo the Diploma in Theological Studies IDTSI and Bachelor in Theology IBThl. From Michaelmas 2021, thi5 Sulte of programmes will become the default option for our ordinands. The Scholarship and Christianity in Oxford ISCIOI programme brings American Visiting Students lo Oxford for a semeste¢s study in each of Michaelmas and Hi18ry Terms. This programme is a partnership be￿een the Hall and the Us-based Council of Christian Colleges and Universities. The University of Oxford has determined that in future years, the number of visiting students must be limited lo a proportion of the number of malriculated Oxford students, which will require the Hall to repla￿ the SCIO programme with a smaller in-house visiting student programme. cliffe Hall also aims to be a centre of theological ex￿llenCe within the Anglican Evangelical Iradilion. A5 part of the University of Oxford, il models academic excellence and integrity, and, as an institution training people for church ministry, it is also commilled lo providing an outstanding professional training and lo producing students who will be strong leaders For all these reasons, the H811 pays great allenlion lo its leaching, to the quality of community life in the Hall and to the pastoral care and personal development of ils students. Wycliffe Hall Trustees, Report Year ended 30 June 2021 Publlc Benefit Wycliffe Hall is an educalionaS establishment, founded lo provide training for those who seek ordained ministry within the Church of England 11 accèpts 51udenls from a wide variety of backgrounds who seek to study theology within the University of Oxford. The education is provided fomally within the Hall and University, and most courses lead lo University of Oxford qualifications. Hall Council has considered the Charity Commission's guidance on public benefit. The beneficiaries of the charitable activity undertaken by the Hall include the students themselves. those impacted by the students during their placements and missions, the Church ol England and other bodies. individuals and communities which will benefit from the future ministries of those who have trained at the Hall. As with other educational establishments, a major benefit to the students is in the formal conveyance of knowledge. This is done in a variety of sellings including lectures and tutorials. bul is also imparted through peer groups. on placement and on mission. The HÉll also seeks lo provide a selling conducive to learning, with an emphasis on community life, mutual support and the accessibility of staff who seek lo provide appropriate counsel in every circumstance. The Hall constantly strives lo improve on its already high standards by encouraging feedback from the students on all aspects ol their expèriences al the Hall each term. On one level, the success of the education provided al the Hall can be seen in the qualifications from the University of Oxford which the students receive at the end of their Courses. However, this academic yardstick does not reflect the lull exlenl of the training given within the Hall to prepare the students for leadership in the Church of England and other spheres of Christian ministry. The beneficial impact ol these students is fell in many ways and places. The Hall believes that it is in the interests of society that religious leaders are trained al the highest academic levèl. The exposure ol every student to the (rigorously formed and articulately expressed) views ol others. and the subjection of every belief, however cherished, to the critique of others produces religious leaders of greatèr humility, moderation. and ability to engage intelligently and graciously with those who hold opposing beliefs Such an education and training help develop leaders who will not preside over the retreat of religious groups into a sectarian attitude. bul which will contribute positively lo the debates- and the needs - of contemporary society. Financial Support for Students The Hall charges tuition fees in line with externally regulated rates and sets reasonable accommodation and meal charges. To assist undergraduates entitled to Student Support, the Hall provides through a scheme operated in common with the University and other Colleges, bursary support for those of limited financial means. The scheme is approved by the Office of Fair Access IOFFAI and provides benefits at a subslanlially higher level than the minimum OFFA requirement. Most of the Hall'5 independent students li.e., those whose training costs are not paid by the Church of England) are not eligib5e for Student SuppDrt. Where possible. the Hall provides financial support for students, including several bursaries and fee waivers each year lo fund fees and living costs lor both undergraduate and graduate students. For the academic year 2020121, the number of awards made by the Hall was 11 12019120..121 and the total value awarded was £44,917 12019120.. £41,654). The Hall also supports students with travel expenses associated with their mini51erial placements and operates a lirnited hardship fund. for which students incurring unexpected financial hardship are eligible. Wycliffe Hall is most grateful for the support of donors who have contributed lo Bursary funds. Wycliffe Hall Trustees, Report Year ended 30 June 2021 ACTIVITIES AND PERFORMANCE Wycliffe Hall continues to renew Christian leaders in prayer, character, p￿a¢hIng and thinking, towards ils vision of seeing the nations transformed by the gospel. In the academic year beginning October 2020,113.5 full lime equivalent studenls12019.'1081 were studying al Wycliffe. The equipping of men and women for ordained and lay ministy remains the central activity of the Hall. All those preparing for ordained ministry in the Church of England secured positions as Curates and are serving in that context in dioceses across the nation. Others have tsken up various roles in this country or overseas. We always enjoy hearing feedb2ck from our alumni and are constantly encouraged lo see the tangible impEct they have around the world. Exam results for students on University of Oxford courses were again excellent, with acaderric awards being won by several oflhem. A cohort of students completèd the Church of England's Common Awards programme and were awarded diplomas and degrees by the University of Durham, including some excellent results. The number of graduate students has slabilised around 35, including a growing cohort of PGCE students. Our Graduate Society is now well established and is recognised as offering very effective support for graduate students in their studies. 11 fosters a strong sense of community with a regular programme of academic and social events. These include a fortnightly Graduate Research Seminar, Whe￿ academic papers are presented on a variety of subjects from Wycliffe graduates and stsff as well 85 Other graduates and academics across the University. A lermly 'Lounge Lecture, has featured a wide variety of speakers from the UK and further afield in a relaxed social setting. Covid limited much of the Hall's usual recruitment activity this year, including meetings with Bishops and Diocesan Directors of Ordination IDDOS). Open Days and interviews were moved almost entirely online, and all the conferences we usually attenci were Cancelled. However, 3 Vocations Conference for Women was orgBnised specifically to increase the number of women coming lo the Hall lo train for ordination. There is also 8 weekly Principal's Hour al which Oxford academics and other scholars and practitioners, from a wide variety of disciplines and faith perspectives, are invited lo speak. In addition lo their le8ching, tutors have been active in research and writing, with several books and articles being published by them throughout the year. The Hall has also been encouraging scholarship through hosting New Testament Research Seminars at which local and visiting scholars present papers. This strong research activity means that we submitted 4.4 staff lo the 2021 REF Ilhe Government research excèllence assessment framework), compared lo only one member of staff in the last exercise in 2014. This should result in around £35k p.a. of additional income for thè Hall from 2022 onwards. We are also very pleased lo have recruited an Old Testament tutor (funded by philanthropic donalionsl, and our first Junior Research Fellow in Literature and Theology (funded by the Frederick Buechner Cenlrel. In addition, we recruited and now host, the MTh Coordinator on behalf of the Faculty of The01¢￿Y and Religion. We were delighted lo be able lo appoint an Arb'sl in Residen￿ this past year, who combines study and artistic oulpul with the fostering and encouragement of the diverse creative gifts of the community - as demonslraled in our participation (for the first limel in the Oxfordshire Art Week. (This role was, again, funded by specific philanthropic donation.) Wycliffe Hall's staff continued lo make a significant impact outside the Hall as well. The ordained members of staff have continued lo preach and leach in many settings, contributing lo the life of several churches and Christian organisalions, although thi5 work has been limited as many churches moved services online during lockdown. However, opportunities were seized lo speak at retreats and zoom spirituality workshops. Allendance at academic conferences has been similarly limited. Wycliffe Hall Trustees, Report Year ended 30 June 2021 Impact of Coronavirus The most significant factor affecting the activities of the Hall during the year was the continuation of the Coronavirus pandemic, covering as il did the whole of the financial and academic year. As restrictions slowly began lo ease the Hall was able lo provide face-lo-face teaching with the support of a local church and gradually increase meal provision, and accommodation for those students able lo travel lo Oxford. No conferences or B&B bookings were possible throughout the year. A regular weekly meeting of key operational staff ensured that the Hall's response lo the ever-¢h2nging circumstances was as effective as it could be. managing the often -competing demands of the Hall being a home for students al the same time as a workplace for staff. We were heartened by the fact that throughout the pandemic, none of our resident students lesled positive with the virus. FINANCIAL REVIEW The financial statements have been prepared in accordan￿ with the accounting policies as sel out on pages 21 to 23 and comply with the Charities Act 2011. the Companies Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20151 Operating Perforniancfr The Hall's financial perf0rrnan￿ in 20121 was 8 combination of factors which moved in opposite directions. Firstly, there was a reduction of opeTrting income of £418k from £2,211 k lo £1,793k, primarily because of the coronavirus pandemic. This led to an operating loss of £107k, the second year an operating loss of this scale had been recorded12020'. £112kl. At the same lime, and al least partially a response to the pandemic, donations, and legacies more than doubled from £319k in 2020 10 £893k this year Wthin that figure, unrestricted donations increased more than tenfold from £38k to £491 k. This included an interesl-free loan of £300k which was used to support the subsidised purchase ol a legacy propety donation, as well as substsntial other gifts lo support our Covid-19 emergency campaign. As a result, the Hall recorded an unrestricted surplus of £51 k12020.' £83k deficill. We are very grateful for these gifts and encouraged by the continued and increasing commitment of our donors whilst recognising that the quantum of such donations can mask the fact that a more robust operab'ng model is required. Total income for the year rose by £155k lo £2.685k 12020". £2,530kl of which 33g/o came from donation5 and legacies as described above12020'. 13°IDI. Fee income from all eategories of students declined, including by £32k for ordinands and by £79k for visiting students. Continuing uncertainly about the pandemic and travel difficulties inevitably led to a significant fall in residential sludenl income lo £725k12020'. £1,051 kl which was not able to be replaced with commercial rental incomes during the year. No conference income was recorded this year which compares with £171 k in 2020 Iwilh 3 months, pandemic impacll and £242k in 2019. We are hopeful that this will return lo more 'normal' levels in 2022. The more than doubling of donations and legacie5 included £401 k of restricted giving - the highest total in Wycliffe history- supporting the appointment of amongst others an Old Testament Tutor, and Artist and a Scientist in Residence and a Junior Research Fellow. During the yèar, we tcK)k measures lo manage our largest Item of expendiluTe- that of staff payroll. We continued a hiring freeze. largeled a small aggregate salary increase on staff whose compensation was most behind comparable benchmarks, and look advantage of the Government's Job Retention scheme (Furloughl, making Sure that all our furloughed staff continued to receive full salaries. Sadly, we also made members of the support staff redundant. We took advantage of a government-backed Coronavirus Business Interruption Loan of Wycliffe Hall Trustees, Report Year ended 30 June 2021 £315k in August 2020 which provided an interest-free liquidity cushion for a year unt'l the impact of Coronavirus and our mitigating actions can be seen more clearty. Total expenditure increased by £44k year-on-year at £2,5151 k12020'. £2,461 k}. Although this was impacted by the Coronavirus mitigations listed above, il also reflects the relatively fixed nature of the cost base which has ranged be￿een £2,461 k and £2,515k in each of the last four years. The depreciation charge increased lo £270k 12020.. £206kl and £141 k12020'. £86kl was added lo fixed assets during the year. Restricted Funds grew fro £327k lo £447k in the year, reflecting the impa¢l of the restricted donations described above. Two loans from RBS lolalling £900k were due lo be repaid in August 2020. £700k of this was repaid from the proceeds of a sale of a propety in South Oxford which was surplus lo requirement and the remaining £200k refinanced for a further year. A5 a result ol a property legacy, the Hall purchased a propety in Summertown for half its market price. This purchase was enabled by an interest free private loan of £300k. Reserves Pollcy The Hall's reserves policy is lo maintain sufficient free reserves to enable il lo meet ils short-lèrm Iinancial obligations in the event of an unexpected revenue shortfall and lo allow the Hall lo be managed efficiently and lo provide a buffer that would ensure uninterrupted services. Although the cash in bank accounts varied little overall in the year (increasing from £1,109k to £1166kl, cashflows can be volatile monthly and these are monitored closely to ensure that immediate obligations can be mel. The Hall aims to operate on a balanced budget basis, and therefore attempts to restrict expenditure to the level of fee and conference income plus anticipated unreslri¢led donations. This operational objective has not been achieved in either of the last two years12021'. £107k deficit, 2020, £112k deficill and is currently reliant on the surplus from restricted funds to support its operational aclivities12021.. £277k, 2020." £180kl. Total funds of the Hall and its subsidiaries al the year-end increased lo £10,045k12020.' £9,873kl. This includes endowment capitsl of £561 k12020 £561 kl and unspent ￿striCted income funds tolalling £447k12020'. £327kl. Most of Wycliffe Hall's reserves are invested in property lo provide adequate space for the academic and administrative functions of the Hall, lo provide housing for staff and lo provide housing for students in line with the sècond object in the Deed of Trust. Current assets are normally restricted lo the minimum required for the transaction of the H811's Day to day business. Free reserves li.e., unrestricted net current asset51 al the year-end decreased lo £247k12020". £378kl which is elaborated in more detail in Note 14 to the Account5. Grant-making Policy Grants are made from restricted funds in accordance with the reslriclions imposed on those funds. Investment Powers The Trustees are empowered lo invest the Hall's assets al their discretion. FUTURE PLANS As the impacts of the pandemic lessen, and the imperative of focusing on short-term operational management hopefully dirninish. the Hall continues to implement the recommendations of a strategic review completed in 2020. Following the decisions of the University of Oxford to limit its ability as a Principal Private Hall IPPHI from offering Durham Univèrsity Common Awards to ordinands from Michaelmas 2022, 2nd lo redu￿ the number of Visiting students admilled, the Hall has delemiined to continue as a PPH, providing a full range of University of Oxford courses lo both ordinands and independent students. In addition, resources are being devoted lo developing and coordinating a range of new inwme-generaling courses that are consistent with the charitable objectives of the Hall. Wycliffe Hall Trustees, Report Year ended 30 June 2021 The pandemic has exposed the difficulties of an operational model with a broadly fixed cost base and considefftble volalilily in income streams. Consequently. several initiatives are being pul in place lo more proactively generate and manage income streams which are not directly related to academic tuition and that can contribute to a more Tobusl business model. Recognising the importance of our propety assets on our central Oxford site, work will be done lo invest in the fabric to ensure that the H211 is able to continue lo provide affordable, quality 8ccommodalion whilst maximising the income generating potential of these assets. Building on the continued success and Importan￿ of our philanthropic donations, a series of prioritisèd targeted campaigns are in place for the coming year including funding new teaching posts, missional development. capital projects and operational support. 10 Wycliffe Hall Trustees, Report Year ended 30 Jun8 2021 STATEMENT OF TRUSTEES, ACCOUNTING AND REPORTING RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Annual Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting PracliTrl ancl applicable lawl, including Financial Reporting Standard 102.. The Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS 1021. The law applicable lo charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the Incoming resources and application of resources of the charity for that period In preparing these financial statements, the Iruslees are required lo.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and eslimales that are reasonable and prudent. state whether applicable accounting sland8rds including FRS 102 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls. prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping proper accounlir7g records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011 and the provisions of the trust deed. They are a150 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 Maintenan￿ and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Insofar as the trustees are aware al the time of approving our trustees, annual reporL' There is no relevant information, being information needed by the auditor In connection with preparing their report. of which the group's auditor is unaware, and The trustees, having made enquiries of fellow directors and the group's auditor that they ought to have individually taken, have each tsken all steps that helshe is obliged to lake as a director lo make themselves aware of any relevant audit information and lo establish that the auditor is aware of that inform81ion. Approved by the Board of Trustees on 16￿ November 2021 and signed on ils behalf by,. Rl Revd Julian Henderson Chairman oyle er Tre Wycllffe Hall Independent auditors, report to the members and trustees of Wycliffe Hall Year ended 30 June 2021 Opinion We have audited the fi'nancial statements of Wycliffe H8111'the charitable company l and its subsidiaries Ilhe 'group") for the yèar ended 30 June 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Corllpany Balance Sheets, the Consolidated Slalemenl of Cash Flows, and notes lo the financial slalemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financi81 R@porting Standard applic8ble in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting Practice). In our opinion. the financial statements.. give a true snd fair view of the stale of the group's and parent charitable company's affairs as al 30 June 2021 and of its incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companie5 Act 2006. Basis for opinion We condueled our audit in accordance with International Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit Df the financial slalements section of our report. We are independent of the charitable company in accordance wilh the ethi￿1 requirements that are relevant lo our audit of the financial slalemenls in the UK. including the FRC'S Ethical Standard and we have fullilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability lo continue as a going concern for a period of al least 12 months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report other information The other information comprises the information included in the annual report, including the trustees, report, other than the financial statements and our auditor's report thereon. The Iru51ees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent othernise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsi51ent with the financial slalements, or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material 12 Wycliffe Hall Independent auditors, report to the members and trustees of Wycliffe Hall Year ended 30 June 2021 mis5talemenls, we are required to determine whether this gives rise to a material misslalemenl in the financial statements themselves. 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 nolhlng lo report in this regard. Opinions on other matters prescribed by th9 Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Iruslees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial slalements are prepared is consistent with the financial slatemenls.. and the directors, report included within the trustees, report have been prepared in accordance with applicable legal requirements. Matters on which we are roquired to report by ex¢optlon In the light of the knowledge and understsnding of the company and ils environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing lo report in respect of the following mallers in relation lo which the Companies Act 2006 require us to report lo you if, in our opinion.. adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial slalements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the Iruslees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement lo prepare a strategic report. Responsibllities of the trustegs As explaingd more fully in the trustees, responsibilities statement set out on page 13 the IruslBes {who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the company's ability lo continue as a going concern, disclosing, as applicable. matters related to going ¢oncern and using the going con￿rn basis of accounting unless the trustee5 either intend lo liquidate the company or to cease operations, or have no realistic alternative but lo do so. 13 Wycliffe Hall Independent auditors, report to the mombers and trustees of WyGliffe Hall Year ended 30 June 2021 Auditor's responsibilities for the audlt of the flnanclal statements Our objeth'ves afft to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due ta fraud or error, and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordan￿ with ISAS IUKI will always detect a material misstatement when il exists. Mi55lalemenls 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 based on these financial stalemenls. Irregularities. including fraud. are instsnces of non