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||||||||Pages|
|---|---|---|---|---|---|---|---|
|Trustees'
annual
report (incorporating|||the|director's|report)||1to 11|
|Independent
auditor's|report to|the members|||||12to 16|
|Statement offinancial|activities|(including||income and expenditure||account)|17|
|Statement offinancial|position||||||18|
|Statement ofcash flows|||||||19|
|Notes to the financial|statements||||||20to 37|
##
##
|The trustees,|The trustees,|who are|who are|also the|directors for the purposes||of company|law, present|law, present|their report and the|
|---|---|---|---|---|---|---|---|---|---|---|
|financial statements|||of|the charity for the year ended 31||July 2022.|||||
|Reference|and administrative||||details||||||
|Registered||charity|name||Ridley
Hall, Cambridge||||||
|Charity registration|||number||1157004||||||
|Company|registration|||number|09011968||||||
|Principal office and|||registered||Ridley
Hall Road||||||
|office|||||Cambridge||||||
||||||CB39HG||||||
|The trustees|||||Mr Mark Spelman
(Chairman)||||||
||||||The Venerable
Hugh|McCurdy|||||
||||||(Vice Chairman)||||||
||||||Revd Canon Frederick||Kilner|(Resigned|1 June 2022)||
||||||The Rt Revd Dr Jo Bailey Wells||||||
||||||Very Revd John lrvine||||||
||||||Mrs Sibella Laing||||||
||||||Revd Dr Jonathan
Linebaugh|||(Resigned|1 June 2022)||
||||||Dr Kevin John Holmes||||||
||||||Mr Keith Wood|||(Resigned|8 December 2021)||
||||||Mr Simon McGuire||||||
||||||Revd Rebecca Dyball||||||
||||||Mrs Lyn Brisley|||(Resigned|16March 2022)||
||||||Canon Andrew
R Presland||||||
||||||Rt Revd Dr Pete Wilcox||||||
||||||Revd Michael
David Bigg||||||
||||||Mrs Kina Robertshaw|||(Appointed|13October 2021)||
||||||Professor Simeon Zahl|||(Appointed|14|June 2022)|
|Principal|||||Revd Dr Michael Volland||||||
|Company|Secretary||||Mr Guoliang
Zhang||||||
|Auditor|||||Streets Audit LLP||||||
||||||Chartered
accountants||8 statutory|auditor|||
||||||3Wellbrook
Court||||||
||||||Girton||||||
||||||Cambridge||||||
||||||CB3 ONA||||||
|Bankers|||||Barclays Bank Pic||||||
||||||StAndrews
Street||||||
||||||Cambridge||||||
||||||CB2 3AA||||||
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||||||2022||2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|||
|||||funds|funds|Total funds|Total funds|
||||Note||||F|
|Income and endowments||||||||
|Donations
and grants|||5|65 386|38,360|103,746|137,294|
|Charitable
activities|||6|1,111,049|2,240|1,113,289|1,207,003|
|Other trading
activities|||7|365,358||365,358|208,932|
|Investment
income|||8|224||224|2,229|
|Total income||||1,542,017|40,600|1,582,617|1,555,458|
|Expenditure||||||||
|Expenditure
on raising funds:||||||||
|Costs of raising donations||and||||||
|legacies|||9|45,718||45,718|49,673|
|Expenditure
on charitable
activities|||10,11|1,842,355|25,842|1,868,197|1,719,303|
|Total expenditure||||1,888,073|25,842|1,913,915|1,768,976|
|Net expenditure||||(346,056)|14,758|(331,298)|(213,518)|
|Other recognised
gains and||losses||||||
|Actuarial
gains/(losses)|on defined||benefit|||||
|pension schemes||||10,000||10,000|(5,000)|
|Net movement
in funds||||(336,056)|14,758|(321,298)|(218,518)|
|Reconciliation
offunds||||||||
|Total funds brought
forward||||4,892,309|90,504|4,982,813|5,201,331|
|Total funds carried forward||||4,556,253|105,262|4,661,515|4,982,813|
##
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|||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|
||||||Note|||||
|Fixed assets||||||||||
|Intangible assets|||||17||1,210||2,530|
|Tangible fixed assets|||||18||4,508,522||4,652,110|
||||||||4,509,732||4,654,640|
|Current assets||||||||||
|Debtors|||||19|116,245||38,741||
|Cash at bank and|in|hand||||216,986||480,707||
|||||||333,231||519,448||
|Creditors
amounts||falling||due||||||
|within one year|||||21|170,448||158,275||
|Net current assets|||||||162,783||361,173|
|Total assets less|current|||liabilities|||4,672,515||5,015,813|
|Provisions||||||||||
|Pensions
and similar||obligations|||22||11,000||33,000|
|Net assets|||||||4,661,515||4,982,813|
|Funds ofthe charity||||||||||
|Restricted
funds|||||||105,262||90,504|
|Unrestricted
funds:||||||||||
|Defined benefit||pension reserve||||(11,000)||(33,000)||
|Other unrestricted|||income funds|||4,567,253||4,925.309||
|Total unrestricted|funds|||||4,556,253||4,892,309||
|Total charity funds|||||24||4,661,515||4,982,813|
##
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##
|||||2022|2021|
|---|---|---|---|---|---|
|||||f.|F|
|Cash flows from|operating
activities|||||
|Net expenditure||||(331,298)|(213,518)|
|Adjustments
for:||||||
|Depreciation
oftangible
fixed assets||||180,157|115,469|
|Amortisation
of intangible
assets||||1,320|1,320|
|Other interest receivable
and similar income||||(224)|(2,229)|
|Changes in:||||||
|Trade and other|debtors|||(77,504)|657,915|
|Trade and other|creditors|||12,173|96,712|
|Provisions
and employee
benefits||||(12,000)|(22,000)|
|Cash generated|from operations|||(227,376)|633,669|
|Interest received||||224|2,229|
|Net cash (used in)/from
operating||activities||(227,152)|635,898|
|Cash flows from|investing
activities|||||
|Purchase
oftangible assets||||(36,569)|(1,859,141)|
|Net cash used
in|investing
activities|||(36,569)|(1,859,141)|
|Net decrease
in|cash and cash|equivalents||(263,721)|(1,223,243)|
|Cash and cash|equivalents
at beginning||ofyear|480,707|1,703,950|
|Cash and cash|equivalents
at end ofyear|||216,986|480,707|
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|5.|Donations|and legacies||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||||f.|
||Donations|||||
||Donations|and appeals|64,386|750|65,136|
||Grants|||||
||Grants receivable||1,000|37,610|38,610|
||||65,386|38,360|103,746|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||||F|
||Donations|||||
||Donations|and appeals|66,658|750|67,408|
||Grants|||||
||Grants receivable||286|69,600|69,886|
||||66,944|70,350|137,294|
|6.|Charitable|activities||||
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||||f.|
||Fees||1,098,740|2,240|1,100,980|
||Sabbaticals||12,309||12,309|
||||1,111,049|2,240|1,113,289|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||||F|
||Fees||1,203,643|3,360|1,207,003|
||Sabbaticals|||||
||||1,203,643|3,360|1,207,003|
##
|7.|Other trading|Other trading|Other trading|activities||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted||Total Funds|Unrestricted|Total Funds|
|||||||||Funds|2022|Funds|2021|
|||||||||F|f.|F|F|
||Conference||income|||||78,444|78,444|1,645|1,645|
||Rental income|||||||184,019|184,019|84,727|84,727|
||Catering|income||||||77,817|77,817|4,066|4,066|
||Other income|||||||25,078|25,078|118,494|118,494|
|||||||||365,358|365,358|208,932|208,932|
|8.|Investment||income|||||||||
||||||||Unrestricted||Total Funds|Unrestricted|Total Funds|
|||||||||Funds|2022|Funds|2021|
||||||||||f.|F|F|
||Bank interest|||receivable||||224|224|2,229|2,229|
|9.|Costs of|raising donations||||and legacies||||||
||||||||Unrestricted||Total Funds|Unrestricted|Total Funds|
|||||||||Funds|2022|Funds|2021|
|||||||||F|||F|
||Development|||office costs||||45,718|45,718|49,673|49,673|
|10.|Expenditure|||on charitable||activities|by fund type|||||
||||||||||Unrestricted|Restricted|Total Funds|
||||||||||Funds|Funds|2022|
||||||||||F||f.|
||Operation|of||theological|college and||provision|ofstaff||||
||and student|||housing|||||1,558,078|25,842|1,583,920|
||Support costs||||||||284,277||284,277|
||||||||||1,842,355|25,842|1,868,197|
||||||||||Unrestricted|Restricted|Total Funds|
||||||||||Funds|Funds|2021|
||||||||||F||F|
||Operation|of||theological|college and||provision|ofstaff||||
||and student|||housing|||||1,428,914|26,299|1,455,213|
||Support costs||||||||264,090||264,090|
||||||||||1,693,004|26,299|1,719,303|
##
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##
|11.|Expenditure|on charitab|le
a|ctivities
by activity ty|pe|||
|---|---|---|---|---|---|---|---|
||||||Activities|||
||||||undertaken|Support|Total funds|
||||||directly|costs|2022|
||||||||F|
||Operation
oftheological||college and|||||
||provision
of|staff and student||housing|1,583,920|277,002|1,860,922|
||Governance|costs||||7,275|7,275|
||||||1,583,920|284,277|1,868,197|
||||||Activities|||
||||||undertaken|Support|Total funds|
||||||directly|costs|2021|
||Operation
oftheological||college and|||||
||provision
of|staff and student||housing|1,455,213|257,910|1,713,123|
||Governance|costs||||6,180|6,180|
||||||1,455,213|264,090|1,719,303|
|12.|Analysis of|support costs||||||
|||||||Total 2022|Total 2021|
||||||||F|
||Wages and|salaries||||146,890|159,799|
||Employer's|NIC||||14,798|15,052|
||Pension costs|||||14,571|15,880|
||Audit fees|||||7,276|6,180|
||Communication
costs|||||41,259|15,378|
||Finance fees|||||5,334|4,376|
||Admin costs|||||25,280|18,296|
||Reception costs|||||8,103|6,884|
||ITcosts|||||20,766|22,245|
|||||||284,277|264,090|
|13.|Net expenditure|||||||
||Net expenditure
is stated||after|charging/(crediting):||||
|||||||2022|2021|
||||||||F|
||Amortisation|of intangible|assets|||1,320|1,320|
||Depreciation|oftangible|fixed|assets||180,157|115,469|
||Foreign exchange differences|||||(943)|3,762|
##
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##
##
|2022|2021|
|---|---|
|f.|F|
|7,276|6,180|
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||F|
|Wages and salaries||||913,215|912,554|
|Social security costs||||78,095|75,909|
|Employer|contributions|to pension|plans|117,404|118,675|
|||||1,108,714|1,107,138|
|
full-time
equivalent
employees
during
the ye|
ar is analysed as follows:||
|---|---|---|
||2022|2021|
||No.|No.|
|Academic|14|14|
|Administration|4|5|
|Catering|5|4|
|Domestic|3|4|
|Premises|1|1|
|RLM|2|2|
|Development|1|1|
||30|31|
##
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##
|Intangible assets||
|---|---|
||Cloud based|
||intangible|
||server|
||f.|
|Cost||
|At 1 August 2021 and 31July 2022|5,280|
|Amortisation||
|At 1 August 2021|2,750|
|Charge for the year|1,320|
|At 31July 2022|4,070|
|Carrying
amount||
|At 31July 2022|1,210|
|At 31 July 2021|2,530|
##
|Tangible fixed assets||||
|---|---|---|---|
||Freehold|Fixtures and||
||property|fittings|Total|
|Cost||||
|At 1 August 2021|5,559,500|707,562|6,267,062|
|Additions|24,675|11,894|36,569|
|At 31July 2022|5,584,175|719,456|6,303,631|
|Depreciation||||
|At 1 August 2021|1,084,411|530,541|1,614,952|
|Charge for the year|148,880|31,277|180,157|
|At 31July 2022|1,233,291|561,818|1,795,109|
|Carrying
amount||||
|At 31July 2022|4,350,884|157,638|4,508,522|
|At 31 July 2021|4,475,089|177,021|4,652,110|
##
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##
|19.|Debtors||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||f.|F|
||Trade debtors||||||64,589|21,420|
||Prepayments|and|accrued||income||48,400|14,652|
||Other debtors||||||3,256|2,669|
||||||||116,245|38,741|
||The debtors above||include||the following|amounts|falling due after more than one year:||
||||||||2022|2021|
||||||||f.|F|
||Trade debtors||||||15,500||
|20.|Cash and cash equivalents||||||||
||Cash and cash equivalents||||comprise the|following:|||
||||||||2022|2021|
|||||||||F|
||Cash at bank|and|in|hand|||187,394|451,249|
||Short-term
deposits||||||29,592|29,458|
||||||||216,986|480,707|
|21.|Creditors: amounts|||falling|due within|one year|||
||||||||2022|2021|
||||||||f.|F|
||Trade creditors||||||25,944|1,312|
||Accruals and|deferred||income|||110,541|130,056|
||Social security|and|other taxes||||22,397|20,798|
||Other creditors||||||11,566|6,109|
||||||||170,448|158,275|
|22.|Provisions||||||||
|||||||||Pensions|
|||||||||and similar|
|||||||||obligations|
||At 1 August 2021|||||||33,000|
||Deficit contributions||paid|||||(12,000)|
||Other movements|||||||(10,000)|
||At 31July 2022|||||||11,000|
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|out in t|he tab|le below.|||
|---|---|---|---|---|
||||January 2018to|January 2021to|
||||December 2020|December 2022|
|Deficit|repair|contributions|11.9%|7.1%|
|iability. The movem
below.|ent
in the balance sheet liability over 2020|and ov|er 2021 is set out|in the table|
|---|---|---|---|---|
||||2021|2020|
|||||F|
|Balance sheet liability at 1 January|||33,000|50,000|
|Deficit contribution|paid||(12,000)|(22,000)|
|Remaining
change|to the balance sheet liability* (recognised|in|||
|SoFA)|||(10,000)|5,000|
|Balance sheet liability at 31 December|||11,000|33,000|
|recovery
plan are already
know|n.|||
|---|---|---|---|
||December|December|December|
||2021|2020|2019|
|Discount rate|0.0% pa|0.2% pa|1.1%pa|
|Price inflation
Increase to total|n/a
-1.5%pa|3.1%pa
1.6% pa|2.8% pa
1.3%pa|
|pensionable
payroll||||
##
##
##
|||||At||||Gains and|At|
|---|---|---|---|---|---|---|---|---|---|
|||||1 Aug 2021|Income|Expenditure|Transfers|losses|31Jul 2022|
|||||F|F|F|F|F|F|
|Premises||fund||4,650,791|||(144,909)||4,505,882|
|Property||||||||||
|improvement|||and|||||||
|maintenance|||fund|7,431|280||(6,457)||1,254|
|Annual|fund|||8,282|59,579||(66,634)||1,227|
|UK Bursary fund||||13,175|4,325|(3,250)|||14,250|
|Overseas||Bursary||||||||
|fund||||4,195|863||||5,058|
|Student|Aid|||7,228|350|(463)|||7,115|
|Pension||Reserve||(33,000)||12,000||10,000|(11,000)|
|Special|Initiatives|||||||||
|fund||||2,818||(2,818)||||
|General||fund||231,389|1,476,620|(1,893,542)|218,000||32,467|
|||||4,892,309|1,542,017|(1,888,073)||10,000|4,556,253|
|||||At||||Gains and|At|
|||||1 Aug 2020|Income|Expenditure|Transfers|losses|31 Jul 2021|
|||||F|F|F||F|F|
|Premises||fund||2,908,438|||1,742,353||4,650,791|
|Property||||||||||
|improvement|||and|||||||
|maintenance|||fund|4,444|14,630||(11,643)||7,431|
|Annual|fund|||61,886|48,371||(101,975)||8,282|
|UK Bursary fund||||12,776|1,649|(1,250)|||13,175|
|Overseas||Bursary||||||||
|fund||||3,150|1,050|(5)|||4,195|
|Student|Aid|||7,228|||||7,228|
|Pension||Reserve||(50,000)||22,000||(5,000)|(33,000)|
|Special|Initiatives|||||||||
|fund||||1,173,283||(59,811)|(1,110,654)||2,818|
|General||fund||331,985|1,416,048|(1,703,611)|186,967||231,389|
|||||4,453,190|1,481,748|(1,742,677)|705,048|(5,000)|4,892,309|
##
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##
||||At||||Gains and|At|
|---|---|---|---|---|---|---|---|---|
||||1 Aug 2021|Income|Expenditure|Transfers|losses|31Jul 2022|
||||||E|F|F|F|
|Endowment||fund|37,180|||||37,180|
|UK Bursary||fund|43,725|37,610|(22,500)|||58,835|
|Overseas|Bursary||||||||
|fund|||||||||
|Development|||||||||
|fund|||||||||
|Newbigin|Centre||9,599|2,990|(3,342)|||9,247|
||||90,504|40,600|(25,842)|||105,262|
||||At||||Gains and|At|
||||1 Aug 2020|Income|Expenditure|Transfers|losses|31 Jul 2021|
|||||||F|F|F|
|Endowment||fund|37,180|||||37,180|
|UK Bursary||fund|22,725|40,500|(19,500)|||43,725|
|Overseas|Bursary||||||||
|fund|||3,495||(3,495)||||
|Development|||||||||
|fund|||675,948|29,100||(705,048)|||
|Newbigin|Centre||8,793|4,110|(3,304)|||9,599|
||||748,141|73,710|(26,299)|(705,048)||90,504|
##
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##
|Analysis|of net assets between fund|s|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2022|
|||||f.|
|Intangible|assets|1,210||1,210|
|Tangible|fixed assets|4,508,522||4,508,522|
|Current assets||57,521|105,262|162,783|
|Provisions||(11,000)||(11,000)|
|Net assets||4,556,253|105,262|4,661,515|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2021|
|Intangible|assets|2,530||2,530|
|Tangible|fixed assets|4,652,110||4,652,110|
|Current assets||270,669|90,504|361,173|
|Provisions||(33,000)||(33,000)|
|Net assets||4,892,309|90,504|4,982,813|
##
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##
|26.|Analysis|ofchanges|ofchanges|ofchanges|in|net debt|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||At||||At|
|||||||||1 Aug 2021||Cash flows||31Jul 2022|
||||||||||||E|f.|
||Cash at bank and|||in|hand|||480,707|||(263,721)|216,986|
|27.|Operating|lease||commitments|||||||||
||The total future||minimum|||lease payments|under|non-cancellable|operating||leases are as follows:||
||||||||||||2022|2021|
|||||||||||||F|
||Not later than||1 year||||||||36,762|32,568|
||Later than|1 year||and|not|later than 5years|||||68,196|11,790|
||||||||||||104,958|44,358|