2022-08-31-accounts

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WESLEY HOUSE, CAMBRIDGE

REPORT AND FINANCIAL STATEMENTS

31 AUGUST 2022

Registered Charity Number: 1158440 Company registration Number: 09147032

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Legal and administrative details ....................................................................................................... 3 Structure, governance and management .......................................................................................... 4 Objectives and activities ................................................................................................................... 7 Strategic report................................................................................................................................ 17 Achievements and performance ...................................................................................................... 17 Financial review .............................................................................................................................. 19 Plans for future periods ................................................................................................................... 22 Independent Auditor's report…………………………………………………………………………………………....24 Statement of financial activities .....…………………………………………………..………………………………28 Balance Sheet ..………………………………………………………………………………………………………………29 Statement of Cashflows ……………….....……………………………………………………………………..……….30 Notes to the financial statements……………………………………………………………………….…………31-41

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Legal and administrative details

Registered charity name Wesley House, Cambridge Registered charity number 1158440 Registered company number 9147032

Principal office and registered office Wesley House, Jesus Lane, Cambridge, CB5 8BJ

Trustees / directors of Wesley House, Cambridge

	Appointed	Term ends
Janet Arthur	12/11/2019	31/08/2026
Dr Roger Paul Ashley	24/07/2014	10/11/2022	Resigned 10/11/2022
			Chair of Finance and
			General Purposes
			Committee until 10
			Nov 2022
The Revd StephenBurgess	16/11/2016	31/08/2023
The Revd Catherine Dixon	25/02/2015	31/08/2025
Christine Elliott	12/11/2019	31/08/2026
Bala Gnanapragasam	12/11/2019	31/08/2026
The Revd Dr Stuart Jordan	24/07/2014	11/05/2023	Chair of Trustees
Elizabeth Ovey	24/07/2014	31/08/2024
David Peniket	12/11/2019	31/08/2026	Chair of Development
			Committee
			Chair of Finance and
			General Purposes
			Committee from 11
			Nov 2022
Professor Nigel Poole	17/02/2021	31/08/2027	Chair of Academic
			Committee from
			07/02/2022
The Revd Julian Pursehouse	10/06/2015	31/08/2025	Chair of Academic
			Committee until
			07/02/2022
David Scahill	01/09/2017	31/08/2023
The Revd Colin Smith	16/11/2016	31/08/2022	Resigned 31/08/2022
The Revd Rose Westwood	10/11/2022	9/11/2028	Appointed 10/11/2022

Auditors:

Chater Allan LLP, Chartered Accountants and statutory auditors, 7 Quy Court, Colliers Lane, Stow-cum-Quy, CB25 9AU

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

The Board of Trustees presents its annual report and the audited financial statements for the year ended 31 August 2022.

Structure, governance and management

Governance

Wesley House, Cambridge is governed by its Articles of Association adopted on 24[th] July 2014, as amended on 6[th] May 2022, 7[th] July 2022 and 10[th] November 2022.

Governance changes 2022

In May 2022 the Trustees agreed to change three of the Articles of Association. These changes removed the requirement to gain consent from the Methodist Conference when disposing of property or using the property as security for a loan. The process for appointing Trustees was replaced with a process based on the Charity Commission’s model articles.

In July 2022 the Trustees agreed to change two more of the Articles of Association. The first change updates the range of considerations Trustees must have regard to when selecting individuals for appointment as Trustees. The second change replaced the requirement for at least 75% of Trustees to be members of the Methodist Church in Britain with a requirement that at least 50% are members of the Methodist Church in Britain or have a comparable connection with another Church which is a member of the World Methodist Council. This latter change facilitates the appointment of Trustees from across the globe.

In November 2022 the Members agreed a change to the Company’s Objects, details of which are given in the “Objectives” section below.

Constitution, governance and management structures

Wesley House, Cambridge is constituted as a private company limited by guarantee. It is registered at Companies House in England and Wales as company 9147032. The Trustees are the directors of the company and are also its members. The liability of Members is limited to £1. It is a registered charity, number 1158440.

The Company is required to have between nine and fifteen members, at least 50% of whom are members of the Methodist Church in Britain or have a comparable connection with another Church which is a member of the World Methodist Council.

The Trustees are required to hold at least three meetings each year, at which one third of the total number of Trustees must be present to be quorate. Decisions at trustee meetings are made by simple majority votes.

Trustees have utilised their ability to delegate powers to committees of two or more Trustees (one of whom shall chair the committee) and there are currently three such committees in place; Academic, Development, and Finance & General Purposes. The Holiness Editorial Board reports to the Academic committee and is an advisory body with no delegated powers. The committees also include Wesley House employees and co-opted volunteers with relevant expertise.

There is an Executive Committee, chaired by the Chair of Trustees and with the Chairs of the three committees, the Secretary of the Trustees (who is a Trustee), the Principal and the Business Director. The Committee meets as needed to assist the Trustees and the senior staff of the college

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

in the formulation of strategy, nominations to committees, the handling of staffing and personnel issues and any other matters referred to it by the Board of Trustees.

The day to day management of the College is delegated to the Principal.

Methods used to recruit and appoint new Trustees

The process for appointing new Trustees is set out in the Articles of Association as follows:

The Company may by ordinary resolution appoint a person who is willing to act to be a Trustee and determine, subject to the provisions of article 14.1, the term of the appointment.
15.1. No person other than a Trustee retiring on the expiration of the term of appointment but eligible for reappointment may be appointed a Trustee at any general meeting unless:
15.2. he or she is recommended for re-election by the Trustees; or
15.3. not less than fourteen nor more than thirty-five clear days before the date of the meeting, the Company is given a notice that:
- 15.3.1. is signed by a member entitled to vote at the meeting;
- 15.3.2. states the member’s intention to propose the appointment of a person as a Trustee;
- 15.3.3. contains the details that, if the person were to be appointed, the Company would have to file at Companies House; and
- 15.3.4. is signed by the person who is to be proposed to show his or her willingness to be appointed.
15.4. All members who are entitled to receive notice of a general meeting must be given not less than seven nor more than twenty-eight clear days’ notice of any resolution to be put to the meeting to appoint a Trustee other than a Trustee who is to retire.
15.5. The Trustees may co-opt a person who is willing to act to be a Trustee.
15.6. A Trustee co-opted by a resolution of the other Trustees must retire at the next general meeting but (for the avoidance of doubt) such co-option does not constitute an appointment for the purposes of article 14.1
15.7. The appointment of a Trustee, whether by the charity in general meeting or by the other Trustees, must not cause the number of Trustees to exceed any number fixed as the maximum number of Trustees.

Training for Trustees

Training is offered to new Trustees in the form of a personal induction by the Chair of the Trustees.

Trustees are given a copy of our Governance Manual, updated annually, which provides information including the Governance Code of Conduct, committee structures and terms of reference.

Trustee changes

The Revd Colin Smith resigned as a Director/Trustee on 31[st] August 2022. The Trustees wish to record their thanks to Colin for his support for the College personally and in his role as Superintendent Minister of the Cambridge Circuit, from which he has now retired.

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Dr Paul Ashley resigned as a Director/Trustee on 10[th] November 2022, and so from his role as Chair of the Finance and General Purposes Committee. The Trustees are grateful to Paul for all he has done for the College, including contributing a photographic exhibition to our Centenary events.

The Revd Rose Westwood was appointed as a Director/Trustee on 10[th] November 2022.

Staff changes

Dr Medi Volpe was appointed as Director of Research from 10[th] January 2022, succeeding Dr Helen Cameron. We are grateful to Dr Cameron for remaining on the academic staff team as a Research Fellow and continuing to supervise doctoral students.

The Revd Dr Paul Chilcote’s term as interim Director of Global Wesleyan Theology ended on 31[st] August 2022. We are grateful for his work for the College and for the time he and Janet Chilcote spent as part of the community in Cambridge during the year. We are pleased that Dr Chilcote is remaining as a Wesley House Research Fellow.

Joseph Powell was appointed as Editor of the Holiness journal, commencing 1[st] September 2022, succeeding The Revd Dr Richard Clutterbuck. We are grateful for Dr Clutterbuck’s careful stewardship of the journal over the last two years.

The Trustees wish to pay tribute to The Revd Dr Brian E Beck who died on 18 November 2022 in the 90[th] year of his age and the 66[th] year of his ministry. Brian was a Wesley House student from 1955 to 1957, returned for a term in 1966, was appointed as Tutor in 1968 and as Principal in 1980. He left Wesley House in 1984 to become Secretary of the Methodist Conference until his retirement in 1998. In retirement Brian looked after the College’s archive and rare books collection, a post he held until the College’s centenary celebrations in July 2022. The Trustees record their gratitude for Brian’s long and devoted service to Wesley House.

Arrangements for setting pay and remuneration of key management personnel

The Principal's pay during 2020/21 was set at the rate for presbyters of the Methodist Church in Britain, including a College Principal's allowance and the provision of free accommodation. From September 2021 the Principal’s status changed to became an employee of Wesley House at which point the stipend and allowance that would have been payable was converted into a salary. It has subsequently been increased by the same percentage as has been applied to Methodist ministers.

The Business Director's remuneration was set by the Finance and General Purposes Committee at the time of recruitment at a rate that was considered necessary and sufficient to attract an individual with the skills and experience required. It increases annually by the same percentage as applied to the Principal's pay.

Wider networks: Cambridge Theological Federation

Wesley House is a founding member of The Cambridge Theological Federation (charity number 1099953; company registration number 4700056). Wesley House's students are admitted to accredited programmes managed by the Federation and taught by members of staff from the Federation's twelve partner bodies. The Federation's admissions policies govern the courses Wesley House can offer to students and acceptance onto those programmes. The Federation is responsible for the quality of teaching and monitoring and reporting to the various government bodies, such as the Office for Students. The Federation is licensed to sponsor student visas for international students.

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WESLEY HOUSE, CAMBRIDGE TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

In addition to academic policies, the Federation has a number of policies that impact on Wesley House such as IT and Safeguarding policies.

Wider networks: Methodist Church

In July 2022 the Methodist Church in Britain (“MCB”) and Wesley House signed a Memorandum of Understanding which affirms a number of areas of mutual interest and engagement including Shared Methodist Identity, Ministerial Appointments, Supervision Training and Resourcing, the Holiness Journal and Continuing Development in Ministry. Other than this Memorandum Wesley House does not have a formal relationship with MCB. The Principal is a Presbyter in the British Methodist connexion and so bound by its policies and procedures. The Principal and a number of Trustees play an active part in the governance of MCB.

The MCB provided funding of £2,500 to Wesley House in the 2021/22 year for which the Trustees are grateful. It is used to support the costs of the Holiness journal.

Wider networks: GBHEM

In August 2018 Wesley House signed a partnership agreement with the General Board of Higher Education and Ministry of the United Methodist Church, USA (“GBHEM”). This agreement establishes a Global Hub for Leadership, Education and Development in Britain, based at Wesley House. The Hub offers training and sabbatical opportunities to theological institutions affiliated with the Association of United Methodist Theological Schools and provides sabbatical opportunities to UMC Clergy, District Superintendents and Bishops. Along with other Hub members the College is a member of the International Association of Methodist Schools, Colleges and Universities (IAMSCU) and Methodist Theological Schools in Europe (MTSE).

Relationships between the charity and related parties

Wesley House has a relationship with a third party which is a charity named, "Wesley House, Cambridge" (registered charity 311446). The latter has four Trustees, all of whom are also Trustees of the Wesley House that is the subject of this report. Charity 311446 has not been actively operating since the incorporation of this company when the assets were transferred to Wesley House in an Asset Transfer deed dated 1 March 2015 and is now dormant.

Objectives and activities

Our Purposes

On 10 November 2022, and following consent of the Charity Commission given on 9 September 2022, the Members agreed a variation to the Company’s Objects, which are now set out in the Articles of Association as follows:

4.1. The object of the Company is the advancement of education and the Christian faith in particular by establishing and maintaining a college, hostel or institution within the precincts of the University of Cambridge which provides:
4.1.1.training in theology and formation in a Wesleyan tradition for accepted candidates for the ministry and ordained ministers of the Methodist Church worldwide; and
4.1.2.theological training to lay members of the Methodist Church worldwide; and
4.1.3.theological training to others consistently with the values of the Methodist and Wesleyan traditions

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

by means of tuition, academic supervision and mentoring (including by remote means) together with residential facilities in connection with such tuition, supervision and mentoring, where appropriate.

4.2. The Company shall function as a post-graduate college enabling students to have access, as appropriate, to the benefits of University life and tuition, and applicants shall normally be required to hold an undergraduate degree (or equivalent) prior to being granted access to residence and/or tuition in the college, save that the Trustees shall have discretion to permit access to such number and proportion of students who do not already hold an undergraduate degree as they see fit.

Our vision is to be a globally significant resource for leadership and scholarship in the Wesleyan tradition for the sake of the flourishing of the church and the world.

In a polarising political, social and economic climate we believe that the Wesleyan tradition has wisdom to share through its holding together in creative tension of many seeming opposites, such as love of God and neighbour, prayer and scholarship, science and faith, the local and the global. In response to God’s reconciling work Wesley House is committed to bringing people into conversation and into community with each other and with God, for the sake of the flourishing of the whole earth.

Our mission as a higher educational institution is to

Curate learning communities that pray, confer, research, learn and share their work and life as part of the body of Christ.
Build global capacity for resourcing leadership and scholarship through partnership working.
Create and disseminate research in the areas of Global Wesleyan Theology, Leadership and Ministry Development, and Faith in Public Life and offer teaching and other educational opportunities shaped by that research.

How the achievement of our aims will further our legal purposes

Our aims, as set out in our vision and mission, are directly related to furthering our purposes.

Curating learning communities that confer, research, learn and share their work relates to the object, “training in theology and formation for ministries”. It also relates to provision of “tuition, academic supervision and mentoring”.

Curating learning communities that pray…share their work and life relates to maintaining “a college, hostel or institution within the precincts of the University of Cambridge”.

Building global capacity for resourcing leadership and scholarship relates to “training in theology and formation” and “theological training”.

Creating and disseminating research and offering teaching shaped by that research relates to “training in theology and formation” and to provision of “tuition, academic supervision and mentoring”.

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Strategies for achieving our stated aim

The main operating strategy to achieve our aim is to offer a range of accredited & non-accredited, full-time and part-time, residential & non-residential courses that attract sufficient numbers of students to build a self-sustaining business plan.

Essential to our ability to meet our objects is a strategic role within the Cambridge Theological Federation (the "Federation"). Through our membership of the Federation we are able to offer degree programmes validated by Anglia Ruskin, Cambridge and Durham universities and have access to a wide network of tutors and supervisors with a broader range of interests and expertise than we could manage by ourselves. Membership also provides access to Federation and University libraries.

Wesley House’s work is organised into three centres of activity, Global Wesleyan Theology; Leadership and Ministry Development; and Faith in Public Life.

The Centre for Faith in Public Life, under the Directorship of Dr Richard A. Davis, supports and promotes the active, informed, and constructive engagement of Christians and churches in public life for furthering ‘the welfare of the city’, peace, justice, freedom, equality, and the common good. It does this through study, research, publishing, and conversations in the area of faith and public life.

The Centre provides a hub for public theology and Christian social ethical thought within Wesleyan traditions. The Centre aims to promote the public ministry and mission of churches and the public witness of Christians in their daily lives.

Informed by Wesleyan tradition, and inclusively ecumenical in spirit, the Centre offers theological resources and research into contemporary issues facing humanity.

The Centre for Global Wesleyan Theology, which was under the Directorship of The Revd Dr Paul Chilcote in the 2021/22 year, supports scholarship and practice related to theology and spirituality in the global Wesleyan tradition, curating a network of global scholars for enrichment in both theological and spiritual engagement and fostering partnerships that develop capacity and effectiveness. It does this by providing opportunities for formal study and research, by offering webinars and workshops, and by engaging in conversation among diverse communities both locally and globally.

The Centre seeks to cultivate a spirit of genuine mutuality and to provide a venue for ongoing conversation, learning, and growth around theological concerns central to the Wesleyan community around the globe. Located physically in Cambridge and virtually through its international network of scholars, the Centre promotes the integration of Wesleyan theology and daily life in the diverse cultural contexts of the world.

The Revd Dr Adam Ployd took over from Dr Chilcote as Director of the Centre for Global Wesleyan Theology on 1[st] September 2022.

The Centre for Leadership and Ministry Development, under the Directorship of The Revd Dr Adam Ployd, pursues scholarship and educational activities that investigate and cultivate new models of ecclesial leadership and ministry in a global context.

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

It aims, in partnership where possible, to develop excellence in leadership, ministry and supervision practice through:

a) research, publication and consultancy for policy development and implementation
b) academic teaching and professional standard training
c) the development and delivery of relevant patterns of initial and continuing ministerial development and support for identified communities of practice.

The Centre also hosts our work as a world centre of excellence for research, consultancy and training in Pastoral and Reflective Supervision, under the Directorship of The Revd Bill Mullally.

Activities in the period

Students

306 people were taught through Wesley House in the 2021/22 year
104 students from 17 different countries were on formally accredited courses
128 people were trained in Pastoral/Reflective Supervision, including 24 on behalf of the Methodist Church in Britain
74 people took part in our informal courses
4 sabbatical visitors undertook research here.

46% of our students in the year were from Africa, 31% from the UK, 17% from North America and 6% from Asia and Continental Europe. The average age of our students was 48.

Nine of our students were part of the residential community in Cambridge for some or all of the year; four PhD students (one from China, two from Kenya, and one from South Africa), three students preparing to be Mission Partners of the British Methodist Church, one of whom also took an MA, and two DTM students from the United States of America.

Five full time students were funded in full through Wesley House bursaries, two of which were supported by the MCB’s Scholarship and Leadership Training Programme.

In 2021/22, 55 Wesley House students were on the following courses delivered by the Cambridge Theological Federation.

With Anglia Ruskin University:

5 x PhD (full time) 19 x PhD (part time) 2 x MPhil (part time) 9 x DProf (part time) 1 x MA (full time) 13 x MA (part time) 2 x Postgraduate Diploma (part time)

2 x Postgraduate Certificate (part time)

With the University of Cambridge: 2 x DTM (full time)

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

In addition:

Two cohorts of 12 students were on a Postgraduate Diploma in Church Leadership and Ministerial Formation which we are co-teaching at Kenya Methodist University.
One cohort of 8 students started a Postgraduate Certificate in Theological Research which we are co-teaching at Kenya Methodist University.
15 Doctor of Ministry students (validated by Wesley Theological Seminary, Washington, USA) were taught online owing to Covid restrictions and later in the year in person at Wesley House.

In total, there were 770 participants in Wesley House courses and events this year.

In addition to supervising doctoral students during the year Wesley House academic staff taught on the following validated degree courses:

Master of Arts (validated by Anglia Ruskin University)
The taught stage of the Professional Doctorate (validated by Anglia Ruskin University)
Bachelor of Theology and Ministry and Diploma in Theology for Ministry (validated by the University of Cambridge)
Postgraduate Certificate in Theological Research (validated by Kenya Methodist University)
• Postgraduate Diploma in Church Leadership and Ministerial Formation (validated by Kenya Methodist University)

Holiness journal

One issue of our free online journal, Holiness, was published in the year. Holiness volume 7, issue 1 (February 2022) can be found at https://sciendo.com/journal/holiness. The subsequent issue was published in November 2022.

Research

Publications from our staff team in the year included:

Helen Cameron

Cameron, H. (2022) 'Church Organisation', in Ward, P. and Tveitereid, K. (eds.) The Wiley Blackwell Companion to Theology and Qualitative Research. Oxford: Wiley-Blackwell.
Cameron, H. (2022). From the Boy in the Temple to the Man on the Road: The maturing role of Practical Theology in the life of the Church. In Evangelicals engaging with Practical Theology: Theology that Impacts Church and World. H. D. Morris and H. Cameron. (eds) London, Routledge.
Morris, H. D. and H. Cameron, Eds. (2022). Evangelicals engaging with Practical Theology: Theology that Impacts Church and World. Explorations in Pastoral, Practical and Empirical Theology. London, Routledge.

Paul Chilcote

Books

Fill My Heart with Love: 30 Days of Prayer with Methodist Women. Eugene, OR: Cascade Books, December 2021.
Sheltering with the Psalms: 30 Days of Prayer with Charles Wesley. Cleveland, TN: Aldersgate Press, January 2022.

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

The Quest for Love Divine: Select Essays on Wesleyan Theology & Practice. Eugene, OR: Cascade Books, August 2022.

Articles

“Methodist Theology.” St. Andrews University Encyclopedia of Theology.

Other

“Shalom is a Meal,” Neighborhood Seminary blog: www.neighborhoodseminary.org/post/shalom-is-a-meal-by-paul= - - - - chilcote?postId d0be7f7d bee7 4fc8 8454 87c4c1d21992, December 15, 2021.

Richard Davis

Davis, R., 2021a. Methodism in public life? Methodist Recorder, (8552), p.24.
Davis, R.A., 2021b. Reconciliation, Forgiveness and Violence in Africa: Biblical, Pastoral and Ethical Perspectives, edited by Marius J. Nel, Dion A. Forster, and Christo H. Thesnaar. International Journal of Public Theology, [online] 15(3), pp.452–453. doi.org/10.1163/15697320-01530011.
Davis, R.A., 2022a. From Empire to Independent Composite Successor States: Postcolonial Political Theology in Melanesia. In: M.A.D.L. Torre and M. Raheb, eds. Resisting Occupation: A Global Struggle for Liberation, Decolonizing Theology. Lanham: Lexington Books/Fortress Academic. pp.195–209.
Davis, R.A., 2022b. Settler Colonialism. [online] Political Theology Network. Available at: politicaltheology.com/settler-colonialism.
Davis, R.A., 2022c. The Church and the climate crisis. Methodist Recorder, (8573), p.24.
Davis, R.A. and Pohue, M., 2021. French Polynesia. In: K.R. Ross, K. Tahaafe-Williams, G.J. Hill and T.M. Johnson, eds. Christianity in Oceania, Edinburgh Companions to Global Christianity. Edinburgh: University of Edinburgh Press.

Dion Forster

Peer reviewed articles

Forster, D.A. (2022) ‘Living More Decently in an Indecent World? The Virtues and Vices of a Public Theologian.’ Stellenbosch University, Professorial Inaugural Lecture, 1–24. doi.org/10.13140/RG.2.2.15535.82089.
Forster, D.A. (2022) ‘African Public Theology? A Conceptual Engagement to Keep the Conversation Alive.’ In Die Skriflig/In Luce Verbi 56, no. 1 (July 22, 2022): 1-9. doi.org/10.4102/ids.v56i1.2849.
Forster, D.A, (2022). Bowers Du Toit, Nadine, Elisabet le Roux, and Shantelle Weber. ‘Born Free? South African Young Adults, Inequality, and Reconciliation in Stellenbosch’: International Bulletin of Mission Research African Princeton: 1–11. doi.org/10.1177/23969393211010747.
Forster. D.A. Anthony, Ishaya, (2021). ‘I Must Honestly Confess That I Am Afraid of You’: Prophetic Preaching as Public Theological Engagement in a Context of SocioPolitical Fear. International Journal of Public Theology 15, no. 3 (October 27, 2021): 369– 384. doi.org/10.1163/15697320-01530005.
Forster, D.A. (2021). A Critical Consideration of the Relationship Between African Christianities and American Evangelicalism: A Cautionary Tale of Theo-Political Exceptionalism? The South African Baptist Theological Journal 30, no. Theology in Context (October 15, 2021): 199–145.

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WESLEY HOUSE, CAMBRIDGE

TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Forster, D.A. (2021). Post-Foundational Theology and the Contribution of African Approaches to Consciousness and Identity. Verbum et Ecclesia 42, no. 2 (Wentzel van Huyssteen special edition) (September 22, 2021): 1–10. doi.org/ 10.4102/ve.v42i2.2363.
Forster, D.A. (2021). ‘Towards a Future with Greater Freedoms for All: Historical Theological Engagement with Mary-Anne Plaatjies-Van Huffel’s Contribution to Religion and Law’. Studia Historiae Ecclesiasticae 47, no. 2: 1–19. doi.org/10.25159/24124265/8166.

Book chapters

Forster, D. A. (2022). “Engaging ‘Die Gif in Vergifnis’ [the Poison in Forgiveness]? Considering Peter Storey’s Four Ecclesiological Tasks for the Coming Generations.” In Faith, Race and Inequality among Young Adults in South Africa, edited by Nadine F Bowers Du Toit, 41–61. Beyers Naudé Centre Series on Public Theology. Stellenbosch: African Sun Media, 2022.
Forster, D. A. (2022). Social Identity Complexity and a Politics of Forgiveness among Black and White South Africans. In Moral Pedagogies for Africa: From Ethnic Enmity to Responsible Cohabitation, edited by Theodros A. Teklu, 135–58. Studies in World Christianity and Interreligious Relations. New York, NY.: Routledge, 2022. DOI: DOI: 10.4324/9781003178101-10.
Forster, D. A. (2021). Engaging ’Kyrkan och kampen för ett bättre samhälle’: Dissenting Protestantism and the Merit Trap. In Vänskap/Friendship: Festschrift för Arne Rasmusson, edited by O. Sigurdson & J. 293–317. Svenungsson. Malmö: Spricka förlag.
Forster, D. A. (2021). Religious Diversity and Social Cohesion: The Importance of Mediated Inter-Group Contact in the Workplace in South Africa, in 12 Lenses Into Diversity in South Africa, edited by Kurt A. April and Preeya Daya, 177-194. Randburg, South Africa: KR Publishing, 2021.

Newspaper and other journal articles:

Forster, Dion A. 2022. “Cultivating an Ethical Imagination in the Current Climate of Hopelessness.” Academic. Counterpoint: Navigating Knowledge. August 24, 2022. www.counterpointknowledge.org/cultivating-an-ethical-imagination-in-the-currentclimate-of-hopelessness.
Forster, Dion A. 2022. “Marikana Massacre: South Africa Needs to Build a Society That’s Decent and Doesn’t Humiliate People.” The Conversation, August 11, 2022. theconversation.com/marikana-massacre-south-africa-needs-to-build-a-society-thatsdecent-and-doesnt-humiliate-people-188534.
Forster, Dion A. 2022. “Religion and State Need to Be in Balance to Protect Democracy in South Africa.” The Conversation. July 20, 2022, sec. Analysis. theconversation.com/religion-and-state-need-to-be-in-balance-to-protect-democracyin-south-africa-186405.
Forster, Dion A. 2022. “A Spirituality of Work?” Academic. Counterpoint: Navigating Knowledge, May 3, 2022. www.counterpointknowledge.org/a-spirituality-of-work.
Forster, Dion A. 2022. Knowing What Is True? Between Science and Belief. Academic. Counterpoint: Navigating Knowledge, January 12, 2022.
www.counterpointknowledge.org/knowing-what-is-true-between-science-and-belief.
Forster, Dion A. 2021. Not Survival, but Prophecy… Is This a Monastic Moment? Academic. Counterpoint: Navigating Knowledge, 29 September 2021. www.counterpointknowledge.org/not-survival-but-prophecy-is-this-a-monasticmoment.

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Daniel Pratt Morris-Chapman

Books

Pratt Morris-Chapman D J 2021. Newman in the Story of Philosophy: The Philosophical Legacy of John Henry Newman, Eugene, OR.: Pickwick.
Pratt Morris-Chapman D J. An Ambazonian Thelogy of Liberation: A Theological Response to the Anglophone Crisis in Cameroun (Forthcoming)

Articles/Essays

Pratt Morris-Chapman D J. 2021. The Meaning of Liberalism in the thought of John Henry Newman, Journal of Religious History, Literature and Culture 7 (no.1)
Pratt Morris-Chapman D J 2021. Pick Up Your Cash and Follow Me: Pentecostalism, Prosperity and Socioeconomic Empowerment in Southwest Cameroon, in J Bostic, I Mothoagae, T Tucker-Worgs (eds.), Black Religious Landscaping in Africa and the United States, Peter Lang, New York 2021, pp.167-181.
Pratt Morris-Chapman D J. 2022. More Authority than the Pope? Conference, The Deed of Union and Methodist Theology, Stellenbosch Theological Journal, 7 (No 1): 1-21
Pratt Morris-Chapman D J. 2022. Beyod the Quadrilateral, The Place of Nature in John Wesley's Epistemology of Theology, HTS Teologiese Studies / Theological Studies, 78 (No 2): 1-11

Adam Ployd

Article

'Augustine's Martyrs as Ideal Christian Rhetors,' Augustiniana 2021

Medi Volpe

“Peace” in Disciples and Friends: Investigations in Disability, Dementia, and Mental Health, ed. A L van Ommen and B R Brock. Baylor 2022.
“The Lord’s Prayer in the Life and Liturgy of the Church,” in T & T Clark Handbook of Christian Prayer, ed. Ashley Cocksworth and John C McDowell. London: T & T Clark, 2022.
“Jean Vanier” and “Disability,” in The Oxford Dictionary of the Christian Church, ed. Andrew Louth. Oxford: Oxford University Press, 2022.
The Gifts of those Labelled ‘Disabled’: Conversations with Brian Brock’s Wondrously Wounded. Special issue of the Journal of Disability and Religion (26/2), co-edited with Jana Bennett.
‘Judith Butler and the Problem of Responding to Precarious Life’. Church Life, July 8, 2022.

Centenary

During the year we celebrated the centenary of Wesley House’s foundation with a series of public events.

120 delegates joined us online in October 2021 for “Leading Like a Methodist” which included the following guest speakers:

The Revd Greg Bergquist, United Methodist Church General Board of Higher Education and Ministry (Nashville, USA)
The Revd Dr Inderjit Bhogal, City of Sanctuary network (Sheffield, UK)
Barbara Easton, The Methodist Academies and Schools Trust (UK)

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The Revd Dr Susan Henry-Crowe, The United Methodist Church General Board of Church and Society (Washington DC, USA)
The Revd Dr Mary Kinoti, Kenya Methodist University (Nairobi, Kenya)
The Revd Dr Julius Kithinji, St Paul’s University (Limuru, Kenya)
Professor Simangaliso Kumalo, University of KwaZulu Natal (Pietermaritzburg, South Africa)
Rachel Lampard, The Methodist Church of Great Britain (UK)
Dr Derry Long, Yellowstone Theological Institute (Bozeman, USA)
The Revd Dr Naveen Rao, Leonard Theological College (Jabalpur, India)
The Revd Dr Paw Liang The, Damai Sejahtera Methodist Church (Jakarta, Indonesia)
The Revd Dr Lovett Weems, Wesley Theological Seminary (Washington DC, USA)
The Revd Dr Tom Wolfe, Iliff School of Theology (Denver, USA)

110 delegates joined us online in April 2022 for “Wesley To The World” where we were joined by the following guest speakers:

The Revd Dr Kim Cape, Wesley House (Cambridge, UK)
The Revd Professor Emeritus Robert Gribben, United Faculty of Theology (Melbourne, Australia)
The Revd Dr Paw Liang The, Damai Sejahtera Methodist Church (Jakarta, Indonesia)
Prof Judith Lieu, Lady Margaret’s Professor of Divinity Emerita, University of Cambridge (UK)
Prof Filipe Maia, Boston University (Boston, USA)
The Revd Dr Naveen Rao, Leonard Theological College (Jabalpur, India)
Prof Lilian Siwila, University of Kwazulu-Natal (Pietermartizburg, South Africa)
The Revd Prof David Wilkinson, St John’s College (Durham, UK)

Owing to circumstances beyond our control, our Pentecost event in June 2022, “The Spirit That Crosses Borders”, was scaled back but we were pleased to welcome 60 delegates to an online seminar on Climate Displacement given by The Revd Dr Sef Carroll from the World Council of Churches.

Our final Centenary event was a Symposium of “Slavery, Colonialism and Christian Memory” held at Wesley Church on 1[st] July 2022, where our guest speakers were Sonita Alleyne OBE, the Master of Jesus College, Cambridge, Ruby Quantson Davis, The Revd Valentin Dedji, and The Revd Colin Smith. We were pleased to be joined by 75 delegates for the day for this in-person event.

We concluded the celebrations with a Centenary Dinner on 1 July and an Open House on 2 July, for which we were joined by 60 people. The weekend ended with a service of celebration in the College Chapel, at which the preacher was Bishop Joseph Ntumbara, Wesley House alumnus and the Presiding Bishop of the Methodist Church in Kenya.

Recordings of the online events and papers from the Symposium are available at www.wesleyhouse100.com/centenary-events.

During the Centenary year we gave two sermons before the University of Cambridge. In October 2021 Professor Anthony Reddie, Fellow, preached on “Reclaiming the Ordinary” and in June 2022 The Revd Dr Jane Leach gave the Ramsden Sermon on “The Spirit that Crosses Borders”.

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

We are grateful for the support of so many guest speakers for these events and to all those who participated. The Trustees also wish to record their thanks to the staff team at Wesley House for their organisation of, and involvement in, all of the events.

Main activities undertaken to further the charity's purposes for the public benefit We believe that Wesley House meets the public benefit requirement in the following ways:

by the provision of regular communal acts of worship to encourage and facilitate the practice of the Christian religion particularly for those studying, living and working in the College
by working together with the other theological colleges in the Cambridge Theological Federation in order to raise awareness of religious beliefs and practices in other traditions
by providing education in accordance with the principles and practices of the Christian religion in close partnership with the Cambridge Theological Federation and specifically in nurturing within the wider Church 'those doctrines of experimental religion and especially spiritual holiness upon which John Wesley laid emphasis'
by providing opportunities for continuing theological education for ministers and lay people throughout the British Methodist connexion and overseas, through both formal educational programmes and intensive courses making the best of the academic resources available in Cambridge.

Statement

The Trustees have reviewed Wesley House's activities during this period in line with the Charity Commission guidance on public interest benefit.

The criteria or measures used to assess success in the reporting period

The measure of success are as described in the Achievements and Performance section below.

Social investment policy

No social investments were made during this year.

Grant-making

Wesley House does not make any grants to third parties. Some bursary and scholarship funding is available for Wesley House students.

Volunteers

We are kindly supported by volunteers on some of our committees (Academic, Development) and the Editorial Board of Holiness who provide expertise in these areas.

The Trustees are grateful for the support and expertise of The Revd Dr Brian Beck across many years in his role as the College's Archivist. Dr Beck stood down from this role in 2022. We are grateful to Andrew Lorey who has volunteered to succeed Dr Beck as our archivist.

Many people have supported our community life and worship by freely preaching at services and leading evening discussion groups. Whilst not a large time commitment individually, together these offer our students and community a broad and deep range of experience and viewpoints.

The Trustees are grateful to those in the Cambridge Circuit of the Methodist Church, and the wider East Anglia District, who support our students with placements and opportunities to serve within

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

their churches and gain experience. We are particularly grateful to the teams at the churches in Cambridge, Wesley Methodist Church and Castle Street Methodist Church.

Finally, the Trustees themselves are volunteers and have given their time freely throughout the year.

Strategic report

The following sections for achievements and performance, financial review and plans for future periods form the strategic report of the Charity.

Achievements and performance

Our main achievements

The significant activities undertaken in the year and our main achievements are as described in the "activities in the period" section above.

Achievements against objectives set

The following achievements report against annual targets agreed by the Trustees for 2021/22 in the context of a five year Strategic Plan from 2018 to 2023.

Objective 1) Improve the Wesley House student experience Our achievements under this objective included:

Developing core bibliographies for student use
Creating and publishing resources to help doctoral students prepare for their annual progression panels
Supervisor training
Starting work on developing doctoral competencies, which will be completed in 2022/23
Increasing use of student feedback to inform learning and other student activities.

Objective 2) Articulate and nurture the ethos of the College across our range of activities Our achievements under this objective included:

Creating and embedding a new ethos statement (see below)
Auditing activities, student experience and support processes in the light of the ethos statement.

Our ethos

In our activities and the running of our facilities we seek to hold in creative tension….

Prayerfulness and critical questioning
Our Wesleyan roots and open engagement with others
Academic rigour and practical effectiveness
Institutional memory and prophetic vision
Freedom to think and respect for difference
The local and the global
Responsiveness to needs and careful stewardship of resources

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Support for learning and encouragement of independent work
The concerns and interests of the various overlapping communities that form Wesley House.

We seek to nurture working, worshipping, residential and learning communities and partnerships that invite:

fairness and respect
open communication
depth of engagement
realism and creativity
kindness and generosity
mutual support and accountability
naming and learning from our mistakes.

Objective 3: Secure a sustainable future for the college Our achievements under this objective included:

Using the Centenary events to communicate the College’s mission to old friends and new
• Developing our financial models to deepen our understanding of the contribution of different areas of work to our sustainability
Created new partnerships that will build student numbers
Concluding our centenary appeal, which raised over £100,000.
Launched the Wesley House Foundation, for fundraising in the USA
Extended the reach and impact of our three centres through public access activities and events.

We did not spend as much time seeking grant funding as we had hoped and have carried this objective through to 2022/23.

Objective 4: Retain, motivate and support excellent staff

Recruiting a Director of Research to replace an interim appointment
Recruiting a new Editor of the Holiness Journal
Encouraging staff to be research active, attending conferences and publishing books and articles.

We did not recruit someone to replace our interim Director of Global Wesleyan Theology but have reshaped jobs to enable this work to be carried out by existing members of staff.

Performance of material fundraising activities against the fundraising objectives set

Our objective was to raise £75,000 of donations in the year and the total raised was £40,981. The main reason for the difference was that a large amount of generous donations to the Centenary Appeal was given in the previous financial year.

Material expenditure incurred to raise income in the future We spent a total of £13,934 to support fundraising in the year.

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Investment performance against the investment objectives

Wesley House holds no investments. All funds are held in instant access bank accounts.

Significant positive and negative factors within and outside charity's control which have affected achievement of objectives

None

Financial review

Review of financial position

The year ended up with an operating deficit of £172k, compared to a budgeted loss of £153k. The most significant variance to budget was in maintenance costs, mainly relating to replacing a faulty air-conditioning unit and upkeep of fire doors. Our share of student university fees remains the largest income line but only covers 20% of our costs, underlining the need to continue to innovate and find work that attracts the support of donors, funders (eg the projects in Kenya and Zimbabwe) and work that generates income (eg Reflective Supervision). We continue to work to maximise the income-generating potential of the premises, including renting out spare accommodation, spare office spaces, and meeting rooms. We do, though, plan to rely on our reserves for the foreseeable future.

Principal funding sources in the year

During the year our income came from the following sources:

Academic Fees which comprise our share of the course fees from our students
Accommodation
Donations (with gift aid where appropriate)
GBHEM and Central Conferences Theological Education Fund of the United Methodist Church funding for the Africa University project
Hire of meeting rooms and offices
Our role as a LeAD Hub for GBHEM
Reflective Supervision consultancy for GBHEM
Short courses, including in Supervision
World Church Relations office of the British Methodist Church for the Kenya Methodist University project.

Donations policy

Donations are managed in accordance with the donations policy and bursary fund policy agreed on 7th February 2018, as detailed below:

Unless a donor specifies that their donation is for the bursary fund or another specific use, donations will be held as unrestricted funds.
Money given for specific causes (e.g. the Library fund) is paid into the operational funds and used to offset actual costs incurred. If money raised is in excess of the stated cause, the remainder will be treated as an unrestricted donation.
Money given by individuals specifically for an endowment fund will be ring-fenced for that purpose.

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Bursary fund policy

The Wesley House Bursary Fund exists to support the scholarship of Methodist students in need of financial assistance, support a viable residential community in Cambridge, and support the academic and community life of the college.

There are three uses of this fund:

To support non-resident students on the basis of need and contribution to the college’s life.

Bursaries are given to non-resident students at the discretion of the Wesley House Academic Committee, normally up to a value of £1500 per year. Through our non-resident student bursaries, we seek to assist students financially where there is real need, and also to enhance the community and academic life of the College. It is our expectation that nonresident students in receipt of bursary assistance will actively contribute to the life and work of Wesley House as students, in their ministry, and through their academic work.

To attract and support residential research students to study in the areas of Global Wesleyan Theology, Leadership and Ministry Development and Faith in Public Life, or within the research specialisms of one of our first supervisors.
The college is committed to a global residential community of prayer and scholarship and uses its bursary funds to help attract and support research students who would value and add value to community life and who without significant financial assistance would not be able to access such an opportunity. Normally bursaries are offered on the basis of matched funding. Exceptionally, a full bursary may be offered (where it is judged that the applicant, through their proposed course of study, will make a particularly significant contribution to Wesley House’s strategic objectives). Bursaries are offered initially on the basis of a fixed period of study that matches the intended duration of the course of study and will be subject to admission by the relevant university. Bursaries for resident students will normally be agreed to cover the expected duration of their course of study. Continued payment of a bursary will depend on satisfactory academic progression as determined by the validating university, and appropriate behaviour and community engagement as a residential student.
Scholarships of up to £2000 per year are available to resident students at the discretion of the Trustees in return for help supporting essential community functions such as Chapel, Library and Hospitality.

Any bursaries and scholarships awarded will be made to students of Wesley House and not to their dependents or families.

Reserves policy

The Trustees have decided that any funds which have not yet been committed or designated for any particular purpose will be held in its unrestricted funds so that they are available if the charity's expenditure exceeds its income over the forthcoming years whilst the new business plan is developed. The Trustees have established a policy whereby unrestricted funds held by the Charity should cover at least three months of support costs which for the year ended 31 August 2022 was £121,078. Unrestricted funds at year end were £10,717,070 of which £288,268 were free reserves. Total reserves including restricted funds are £11,233,992.

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Going concern

The Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of this report.

The lease from Jesus College has a provision for determining the lease at Wesley House's instigation and an agreed compensation formula. This provides the Trustees with comfort that as a last resort there is a mechanism for releasing significant funds should they be needed.

For these reasons the Trustees continue to adopt the going concern basis in preparing the financial statements.

Wesley House does not have any funds or subsidiaries that are in deficit.

Financial effect of significant events

None

Investment policy

In accordance with the Articles of Association, the Trustees have the power to invest in such stocks, shares, investments and property as they see fit. Wesley House does not have any funds invested.

Principal risks and uncertainties

During the year the Finance and General Purposes Committee and full body of Trustees have regularly reviewed and revised our risk registers, identifying as many of the significant risks to the charity as possible and strategies to reduce those risks.

This risk of disruption from COVID-19 was kept under review. The Trustees felt that the mitigations taken during the previous lockdowns could be applied again without delay and so felt there was no immediate action required to reduce the impact of this risk.

High level risks identified included the need to create a sustainable financial business plan and the need to retain and recruit good staff. The Trustees continually considered the college’s long term sustainability and scrutinised the business plan and the strategies in place to safeguard the company’s future.

Medium level risks identified included not meeting fundraising targets, the effect of not having a sufficiently large bursary fund, the viability of the Federation and its member organisations, the Federation's UKVI status, cyber security and student recruitment. The Trustees took action to address these and other risks throughout the year.

Risks to the health and safety of staff, students, residents and visitors were managed throughout the year. There were no significant health and safety incidents in the year.

The Trustees reviewed the College’s Business Continuity planning as part of its risk management.

Any factors likely to affect future financial performance

The main factor likely to affect future financial performance is the cost of living crisis and rising inflation. This may impact recruitment of students who may not be able to afford course fees. It may also impact a number of cost lines, including staff costs and utilities.

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Plans for future periods

Plans for the future including aims and objectives and activities planned to achieve them

Students

We expect to have 60 Wesley House students on programmes accredited through the Cambridge Theological Federation in 2022/23 and expect to remain at this level for the foreseeable future.

We plan to continue our partnership with Wesley Theological Seminary, Washington DC, USA to host two DMin cohorts each visiting twice a year.

Africa University

Wesley House will continue to deliver its partnership with Africa University which is a five year project from 2019 to 2023. This funded by the GBHEM with a grant of $1.4m, of which $892,706 (£703k) is income to Wesley House with the remainder paid directly to Africa University.

Kenya Methodist University

Wesley House will continue to deliver its partnership with Kenya Methodist University which is an eight year project from 2019 to 2027. This is funded by the World Church Relations office of the MCB with a grant of £1,623,000 which is all payable to Wesley House passing on £479,000 to Kenya Methodist University.

Pastoral Supervision

We plan to continue to run Wesley House’s Certificate and Diploma courses in Pastoral Supervision throughout the year and in summer vacations using a mixture of online and face to face courses. We also plan to continue supporting the roll out of Supervision in the United Methodist Church in the USA, the Methodist Church in Britain, the Salvation Army and the United Reformed Church through course development and oversight, and training.

LeAD Hub

We expect to continue our work as a LeAD Hub for GBHEM.

Trustees' perspective of the future direction of the charity

In common with all higher educational institutions, the Trustees continue to consider the long term impact of Covid on the sector and ways of teaching of learning and the opportunities and threats that have been accelerated particularly in relation to remote students and remote staff.

The Trustees are continuing a process of reviewing the College’s business plan and considering various different scenarios for operating differently. The review is ongoing but the Trustees affirmed their support for the current strategy and activity and are planning to maintain the current direction of the charity, strengthening its resilience wherever possible.

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TRUSTEES' ANNUAL REPORT (Incorporating the Directors' Report) FOR THE YEAR ENDED 31 AUGUST 2022

Trustees’ Responsibilities Statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these 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 judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK 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 charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware;
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The trustees' annual report and the strategic report were approved on 9[th] March 2023 and signed on behalf of the board of trustees by:

………………………………….. The Revd Dr Stuart Jordan Trustee

…………………………………… David Peniket Trustee

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WESLEY HOUSE, CAMBRIDGE INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Opinion

We have audited the financial statements of Wesley House (the charitable company) for the year ended 31 August 2022 which comprise the statement of financial activities (including income and expenditure account), the balance sheet, statement of cash flows and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

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 charitable company 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

In auditing the financial statements, we have concluded that the trustees' 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 to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees 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 to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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WESLEY HOUSE, CAMBRIDGE INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Other information (continued)

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.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are to required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate 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 statements are not in agreement with the accounting records and returns; or

certain disclosures of trustee's remuneration specified by law are not made; or
we have not received all the information and explanation we require for our audit; or
the trustees 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 to prepare a strategic report.

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 the trustees 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 company’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 company or to cease operations, or have no realistic alternative but to do so.

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WESLEY HOUSE, CAMBRIDGE INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Auditor’s responsibilities for the audit of the financial statements

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the annual financial statements from our general commercial and charitable company specific experience, through discussion with the trustes (as required by auditing standards), and from inspection of the charitable company's regulatory correspondence, and we discussed with the trustees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indication to non-compliance throughout the audit; the audit team are deemed both competent and capable of identifying non-compliance with rules and regulations.

The potential effect of these laws and regulations on the annual financial statements varies considerably. Firstly, the charitable company is subject to laws and regulations that directly affect the annual financial statements including financial reporting legislation and taxation legislation, and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related annual account items. Secondly, the charitable company is subject to other laws and regulations where the consequences of noncompliance could have a material effect on the amounts or disclosures in the financial statements, for instance non-compliance with industry regulations. We assessed the risk of fraud in the financial statements through discussion with management and from our experience of the charitable company. We communicated identified fraud risk areas throughout our team and remained alert to any indication of fraud throughout the audit. In particular, we assessed the potential impact of the global pandemic known as Covid-19 on the risk of fraud. We did not identify any instances of fraud during the course of our audit.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and inspection of regulatory and legal correspondence, if any. Through these procedures, we did not become aware of any actual or suspected non-compliance with laws and regulations. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.

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WESLEY HOUSE, CAMBRIDGE INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Use of our report

This report is made solely to the trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’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 charitable company and the trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart Graham Berriman (Senior Statutory Auditor) For and on behalf of Chater Allan LLP Chartered Accountants and Statutory Auditors 7 Quy Court Colliers Lane Stow-cum-Quy CB25 9AU

Date: 14 March 2023

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WESLEY HOUSE, CAMBRIDGE STATEMENT OF FINANCIAL ACTIVITIES (incorporating the income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2022

Note Income and endowments Donations and legacies 4 Charitable activities Other trading activities Investment income 5 Total Income Expenditure Raising Funds 6 Charitable activities 6 Trading activities 6 Total expenditure Net gain on investment Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted Funds £ 40,891 832,058 78,093 97 951,139 13,934 889,687 126,879 1,030,500 - (79,361) - (79,361) 10,796,431 10,717,070	Restricted Funds £ 4,640 - - - 4,640 - 97,158 - 97,158 - (92,518) - (92,518) 609,440 516,922 2022	Total Funds £ 45,531 832,058 78,093 97 955,779 13,934 986,845 126,879 1,127,658 - (171,879) - (171,879) 11,405,871 11,233,992	2021 Total Funds £ 541,876 588,911 3,201 2,289
				1,136,277
				3,070 796,214 24,364
				823,648
				-
				312,629
				-
				312,629

				11,093,242

				11,405,871

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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REGISTERED NUMBER: 09147032

WESLEY HOUSE, CAMBRIDGE BALANCE SHEET AS AT 31 AUGUST 2022

Note FIXED ASSETS Tangible fixed assets 11 Total fixed assets CURRENT ASSETS Trade and other debtors 12 Cash at bank and in hand CREDITORS: amounts falling due within one year 13 NET CURRENT ASSETS CREDITORS: amounts falling due after one year 14 TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS RESERVES Restricted Funds Unrestricted Funds TOTAL FUNDS 15	2022 £ 10,428,702 10,428,702 134,585 1,011,460 1,146,045 (92,422) 1,053,623 (248,333) 11,233,992 11,233,992 516,922 10,717,070 11,233,992	2021 £ 10,525,279
		10,525,279
		152,129 1,100,605
		1,252,734 (103,809)
		1,148,925
		(268,333)
		11,405,871

		11,405,871
		609,440 10,796,431
		11,405,871

The financial statements of Wesley House, Cambridge were approved by the Board of Trustees and authorised for issue on 9th March 2023 and signed on its behalf by

………………………………….. ………………………………… The Revd Dr Stuart Jordan David Peniket Trustee Trustee

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WESLEY HOUSE, CAMBRIDGE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Cash flows from operating activities Net (expenditure)/income Adjustments for: Depreciation of tangible fixed assets Other interest receivable and similar income Net gains on investments Changes in: Trade and other debtors Trade and other creditors Net cash (used in)/generated by operating activities Cash flows from investing activities Interest received Purchase of tangible assets Proceeds from sale of other investments Net cash used in investing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2022 £ (171,879) 119,404 (97) - 17,544 (31,387) (66,415) 97 (22,827) - (22,730) (89,145) 1,100,605 1,011,460	2021 £ 312,629 127,124 (2,289) - (103,281) (45,289)
		288,894
		2,289 (568,466) -
		(566,177)
		(277,283) 1,377,888
		1,100,605

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. General Information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Wesley House, Jesus Lane, Cambridge, CB5 8BJ.

A separate income and expenditure summary has not been produced as it is not considered necessary to do so as the informationis shown on the SoFA.

Wesley House, Cambridge meets the definition of a public benefit entity under FRS 102.

The members of the company are the Trustees named on page 3. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered the potential impact on the company of the global pandemic known as COVID-19. In the opinion of the directors there will be no material adverse effect on the company's ability to continue. The directors believe the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

For these reasons the Trustees continue to adopt the going concern basis in preparing the financial statements.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

3. Accounting policies (continued)

Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Income

All income is included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

3. Accounting policies (continued)

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property - Depreciated over the length of the lease

Fixtures and fittings - 10% straight line

Equipment - 20% - 25% Straight line

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

3. Accounting policies (continued)

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Defined Contribution Plans

The charitable company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to income and expenditure in the period to which they relate.

Financial instruments

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

4. DONATIONS AND LEGACIES

Donations Bursary Income 31/32 Jesus Lane Mrs Lucy Rogers Miscellaneous donations INVESTMENT INCOME Bank interest receivable EXPENDITURE BY ACTIVITY TYPE Raising Funds Charitable Activities Theological & Training Trading Activities Accommodation	Unrestricted Funds £ - - - 40,891 40,891 Unrestricted Funds £ 97 97 Activities undertaken directly 2022 £ 13,934 629,411 - 643,345	Restricted Funds £ 4,640 - - - 4,640 Restricted Funds £ - - Support Costs 2022 £ - 357,434 126,879 484,313	Total Funds 2022 £ 4,640 - - 40,891 45,531 Total Funds 2022 £ 97 97 Total 2022 £ 13,934 986,845 126,879 1,127,658	Total Funds 2021 £ 11,980 5,000 411,379 113,517
				541,876
				Total Funds 2021 £ 2,289
				2,289
				Total 2021 £ 3,070 796,214 24,364
				823,648

5. INVESTMENT INCOME

6. EXPENDITURE BY ACTIVITY TYPE

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

7. ANALYSIS OF SUPPORT COSTS

Support staff costs Premises General office Governance costs 8. NET (EXPENDITURE)/INCOME Net (expenditure)/income is stated after charging: Depreciation of tangible fixed assets Auditors' remuneration Pension costs 9. STAFF COSTS Wages Social security Pension Total	Total 2022 £ 114,476 319,627 43,770 6,440 484,313 2022 £ 119,404 4,600 17,082 2022 £ 307,649 27,927 17,082 352,658	Total 2021 £ 98,421 205,250 57,355 6,515
		367,541
		2021 £ 127,124 4,600 5,648
		2021 £ 168,361 14,201 5,648
		188,210

The average number of staff in the year was 13 (2021: 6)

No employee received employee benefits of more than £60,000 during the year (2021: £nil)

Key management personnel

During the year remuneration received by key management personnel totalled £128,150 (2021 £124,670).

10. TRUSTEES' REMUNERATION AND EXPENSES

The trustees received no remuneration (2021: £nil) during the year.

During the period, 1 Trustee received £159 reimbursement of expenses (2021: £nil) in connection with their service.

During the year donations of £10,750 (2021: £23,140) were received from Trustees.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

11. TANGIBLE FIXED ASSETS

Long leasehold Fixture and property fittings Equipment £ £ £ Cost At 1 September 2021 9,596,434 1,494,176 21,337 Additions 20,106 267 2,454 Disposals - - - At 31 August 2022 9,616,540 1,494,443 23,791 Depreciation At 1 September 2021 349,642 216,597 20,429 Charge for the year 85,544 32,944 916 At 31 August 2022 435,186 249,541 21,345 Net book value At 31 August 2022 9,181,354 1,244,902 2,446 At 31 August 2021 9,246,792 1,277,579 908 12. DEBTORS 2022 £ Trade debtors 41,994 Prepayments and accrued income 89,481 Other debtors 3,110 134,585 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Trade creditors 21,232 Accruals and deferred income 60,576 Social security and other taxes 7,417 Pension contributions - Other creditors 3,197 92,422 Included in Accruals and deferred income above is the following deferred income: As at 1 September 2021 Deferred income recognised in the year Resources deferred during the year At 31 August 2022	Total £ 11,111,947 22,827 -
	11,134,774
	586,668 119,404
	706,072

	10,428,702

	10,525,279
	2021 £ 27,109 43,676 81,344
	152,129
	2021 £ 39,862 52,056 5,466 250 6,175
	103,809
	£ 24,575 (24,575) 37,565
	37,565

Deferred income represents income received for conference room hire and rent received from IOCS.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

14. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

Accruals and deferred income	2022 £ 248,333 248,333	2021 £ 268,333
		268,333

Deferred income represents income received in advance for rent and service charges from IOCS.

15. ANALYSIS OF CHARITABLE FUNDS

Unrestricted funds

General Funds	At 1 September 2021 £ 10,796,431	Income £ 951,139	Expenditure £ (1,030,500)	Transfers £ -	Gains & losses £ -	At 31 August 2022 £ 10,717,070

Restricted Funds

Bursary Fund Paul Jeffries Fund Roberts Library Fund Rev E Peake Finch Scholarship Sanders Library Bequest John Stanfield Memorial Fund Burton Harry Copeman fund Weatherhead, Jones, and Davison Reverend Edward Rogers Scholarship in Christian Ethics	At 1 September 2021 £ 64,481 2,523 55,344 12,594 400 6,616 42,930 5,703 7,470 411,379 609,440	Income £ 4,640 - - - - - - - - -	Expenditure £ (4,276) - (49,930) - - (250) - - (750) (41,952) (97,158)	Transfers £ -	Gains & losses £ - - - - - - - - - - -	At 31 August 2022 £ 64,845 2,523 5,414 12,594 400 6,366 42,930 5,703 6,720 369,427
		4,640				516,922

Bursary fund

The Bursary Fund was set up to provide assistance to students in case of need.

Paul Jeffries fund

The Paul Jefferies Scholarship is offered at the discretion of the Trustees to anyone at Wesley House in Cambridge, either on one of its formal programmes or as an independent research student, whose learning or research supports Christian ministry to people in Hong Kong or mainland China.

John Stanfield Memorial fund

The Stanfield Memorial Fund was established by Rev John E Stanfield, Dr Lorna C Barrie and Lady (Audrey) Wood together with their children and grandchildren, as a permanent memorial to their parents, Rev John Howard Stanfield and Lillian May Stanfield. The memorial fund supported the building of the Gatehouse, including a perching bench carved with a quote from John Wesley "I look upon the whole world as my parish". The family's global ministry, stretching from 1874 to 1997, reflects this. The remaining funds have been donated to the College's Bursary Fund to be used at the Trustees' discretion in support of its aims as an International College.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

15. ANALYSIS OF CHARITABLE FUNDS (continued)

Roberts Library Fund

The Roberts Library fund was created from a legacy from Mrs Myra Stevenson Roberts in 1984 and is for the purpose of purchasing books for the library.

Burton Harry Copeman fund (Ward Prize)

A cash prize of £200 awarded for academic contribution to the college by a first year student.

Weatherhead, Jones, and Davison Prize

At a meeting of Trustees on 16th November 2017 the Trustees agreed proposals from the Academic Committee to consolidate the Weatherhead, Jones and Davison prizes into one prize fund to be used for:

1) An annual prize in books up to a value of £750 for a student receiving first class in a taught award; and 2) An annual prize in books up to a value of £750 for academic excellence/impact in a conference paper or published paper.

Peak Fund

To assist students unable to buy books. A one-time book grant of £250 per student, awarded in cases of real need.

Sanders Library Bequest

A bequest for the income to be applied for library books.

John Finch Scholarship

The John Finch scholarship was created to provide travelling scholarships to be known as "John Finch Scholarships" for candidates for the Ministry of the Methodist Church undergoing training at Wesley College as students for such Ministry or having completed their training at Wesley College not more than one year before being awarded a scholarship. Mr Finch created and contributed to the fund in his lifetime and left £5,000 in his will in 1944, the income from which is to be applied to the scholarships.

The terms of the will were that "the said travelling scholarships shall be scholarships for furthering the education of the said students or past students to whom they are awarded by enlarging their vision amplifying their knowledge and extending their experience to the intent that they become the better fitted to discharge their duties as Ministers of the Methodist Church when appointed as such."

In their July 2022 meeting, the Trustees considered that the John Finch Scholarship fund can no longer be used for its original purpose. They therefore resolved to release the £5,000 capital in the John Finch Scholarship fund to be added to the income accumulated so that the entire amount of £42,930 can be used to provide John Finch Scholarships.

The Trustees resolved that John Finch Scholarships may be offered to individuals who are current students of Wesley House, and who are Methodist Ministers or training to become Methodist Ministers for the purpose of travelling to or from Cambridge to increase their knowledge and experience that will enrich their ministry. The amount of each scholarship remains at the discretion of the Trustees.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

15. ANALYSIS OF CHARITABLE FUNDS (continued)

Reverend Edward Rogers Scholarship in Christian Ethics

This fund was created to endow scholarships in the field of Christian Social Ethics with a legacy from Mrs Lucy Rogers.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Net Current assets Creditors due after one year Net assets	Unrestricted Funds £ 10,428,702 536,701 (248,333) 10,717,070	Restricted Total Funds Funds £ £ - 10,428,702 516,922 1,053,623 (248,333) 516,922 11,233,992

17. OPERATING LEASE COMMITMENTS

The College has a 120 year operating lease agreement with Jesus College, Cambridge for the premises at a peppercorn rent from 1st September 2014 to 31st August 2134. The amount of the peppercorn rent was not specified in the contract but was understood to mean £nil and £nil rent is currently charged.

At the end of the 120 year period the premises remain the property of Jesus College, Cambridge and there is no option for Wesley House, Cambridge to acquire the land and buildings that are currently rented. However, Wesley House, Cambridge can extend the arrangement for a further 15 years at the end of the term.

Wesley House, Cambridge can choose to terminate the agreement at any time within the 120 year lease period. If they choose to terminate the agreement they will be compensated by Jesus College, Cambridge. This compensation is calculated by reference to the insurance valuation of the building at the date of the lease termination dated adjusted for the proportion of the lease term which has already expired. Jesus College, Cambridge can only determine the lease if the building remains unoccupied by Wesley House, Cambridge for 18 months or if Wesley House, Cambridge fails to pay the lease payments (which, as outlined above, are set at £nil).

18. RELATED PARTIES

There are no related party transactions other than those in Note 10.

19. PENSION AND OTHER POST RETIREMENT BENEFITS

In September 2020 all ministerial posts at Wesley House were brought under the control of the Methodist Conference This meant that they were no longer employees of Wesley House and the responsibility for their pensions lay with the Methodist Church and Wesley House did not have any pension liability provisions due. This situation reversed in September 2021 and both ministerial staff based at Wesley House were no longer under the control of the Conference and became employees of Wesley House once again. One of the ministers involved retired from the Church at that point and no pension payments are being made on their behalf from 2021. A personal pension scheme was opened for the other minister. This is a defined contribution scheme and so no pension liabilties will be due, other than the monthly employer contributions.

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WESLEY HOUSE, CAMBRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

20. CONTINGENT LIABILITY

In February 2019 the Maurice and Hilda Laing Charitable Trust offered a grant of £374,301 towards the costs of refurbishing 31 and 32 Jesus Lane. The offer was conditional on giving the following undertaking:

In the event of Wesley House leaving the Federation, Wesley House undertakes to pay the Federation a sum determined as follows:

If the date of leaving the Federation is less than five years from 14th October 2019, £374,301;
If the date of leaving the Federation is less than eight years from 14th October 2019, £262,011;
If the date of leaving the Federation is less than ten years from 14th October 2019, £112,290
If the date of leaving the Federation is more than ten years from 14th October 2019, £1.

The monies thus paid to the Federation shall be used by the Federation to make loans or grants to Houses to promote the purposes of the Federation.

21. COMPARATIVE FOR THE STATEMENT OF FINANCIAL STATEMENTS

Income and endowments Donations and legacies Charitable activities Other trading activities Investment income Total Income Expenditure Charitable activities Trading activities Total expenditure Net gain on investment Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted Funds £ 113,517 588,911 3,201 2,289 707,918 777,824 24,364 802,188 - (94,270) 239,759 145,489 10,650,943 10,796,432 2021	Restricted Funds £ 428,359 - - - 428,359 21,459 - 21,459 - 406,900 (239,759) 167,141 442,299 609,440	Total Funds £ 541,876 588,911 3,201 2,289
			1,136,277
			799,284 24,364
			823,648
			-
			312,629
			-
			312,629

			11,093,242

			11,405,871

WESLEY HOUSE, CAMBRIDGE

Contents

WESLEY HOUSE, CAMBRIDGE

Legal and administrative details

Trustees / directors of Wesley House, Cambridge

Auditors:

WESLEY HOUSE, CAMBRIDGE

Structure, governance and management

Governance

Governance changes 2022

Constitution, governance and management structures

WESLEY HOUSE, CAMBRIDGE

Methods used to recruit and appoint new Trustees

Training for Trustees

Trustee changes

WESLEY HOUSE, CAMBRIDGE

Staff changes

Arrangements for setting pay and remuneration of key management personnel

Wider networks: Cambridge Theological Federation

Wider networks: Methodist Church

Wider networks: GBHEM

Relationships between the charity and related parties

Objectives and activities

Our Purposes

WESLEY HOUSE, CAMBRIDGE

How the achievement of our aims will further our legal purposes

WESLEY HOUSE, CAMBRIDGE

Strategies for achieving our stated aim

WESLEY HOUSE, CAMBRIDGE

Activities in the period

Students

WESLEY HOUSE, CAMBRIDGE

In addition:

Holiness journal

Research

WESLEY HOUSE, CAMBRIDGE

Articles

Dion Forster

WESLEY HOUSE, CAMBRIDGE

Book chapters

Newspaper and other journal articles:

WESLEY HOUSE, CAMBRIDGE

Articles/Essays

Adam Ployd

Medi Volpe

Centenary

WESLEY HOUSE, CAMBRIDGE

WESLEY HOUSE, CAMBRIDGE

Statement

The criteria or measures used to assess success in the reporting period

Social investment policy

Grant-making

Volunteers

WESLEY HOUSE, CAMBRIDGE

Strategic report

Achievements and performance

Our main achievements

Achievements against objectives set

Our ethos

WESLEY HOUSE, CAMBRIDGE

WESLEY HOUSE, CAMBRIDGE

Investment performance against the investment objectives

Significant positive and negative factors within and outside charity's control which have affected achievement of objectives

Financial review

Review of financial position

Principal funding sources in the year

Donations policy

WESLEY HOUSE, CAMBRIDGE

Bursary fund policy

Reserves policy

WESLEY HOUSE, CAMBRIDGE

Going concern

Financial effect of significant events

Investment policy

Principal risks and uncertainties

Any factors likely to affect future financial performance

WESLEY HOUSE, CAMBRIDGE

Plans for future periods

Students