## **T** r **ustees’ Annual** R **epo** r **t fo** r **the pe** r **io** d
**F** r **om 1st Octobe** r **2020 to 30[th] Septembe** r **2021**
## **Cha** r **ity name: Unita** r **ian College**
## **Cha** r **ity** r **egist** r **ation numbe** r **: 1180457**
## **Objectives an** d **Activities**
**----- Start of picture text -----**
SORP reference
Summary of the Para 1 17 . 1. The p romotion of religion in
purposes of the charity accordance with the p rinciples,
as set out in its ethos and values of the General
governing document Assembly of Unitarian and rF ee
Christian Churches;
2. The a dvancement of e ducation
for ministers and lay leaders
through the p rovision of formal
training courses and other
courses and events to p repare
ministers and lay leaders for this
role; and
3. The encouragement of religious
harmony, equality and diversity
through the p rovision of courses
and other learning and
development opportunities for
communities and individuals of
all ages
Summary of the main Para 1 17 an . d 1. Provision of Ministry t raining to
1 19.
activities in relation to student Ministers with six new
those purposes for the Ministers valedicted rf om the
public beneft, in College
particular, the activities, 2. Provision of t raining
projects o r services programmes for Unitarian lay
identifed in the leaders
accounts. 3. Provision of courses in
Chaplaincy and the conduct of
Rites of Passage
Statement confrming Para 1 18 . Trustees have considered recent
whether the t rustees guidance which was distributed by
have had regard to the email
guidance issued by the
Charity Commission on
public beneft
**----- End of picture text -----**
## **A** dd **itional info** r **mation (optional)** You may choose to include further statements where relevant about: SORP reference
Unitarian College is not a g rant making Para 1 38 . charity. Small bursaries a re paid to
**----- Start of picture text -----**
Policy on g rant making ministry students whilst they a re
undertaking some work placements
Para 1 38 .
Policy on social
investment including
program related
investment
Trustees a re volunteers. All other work
Para 1 38 . undertaken by the charity is paid.
Contribution made by
volunteers
Other
**----- End of picture text -----**
## **Achievements an** d **Pe** r **fo** r **mance**
**----- Start of picture text -----**
SORP reference
1 P. rovision of Ministry t raining to
student Ministers with six new
Ministers valedicted rf om the College
Summary of the main Para 1 20 .
achievements of the 2 P. rovision of t raining p rogrammes for
charity, i dentifying the Unitarian lay leaders
diference the charity’s
work has made to the 3 P. rovision of courses in Chaplaincy
circumstances of its and the conduct of Rites of Passage
benefciaries and any
wider benefts to society
as a whole.
**----- End of picture text -----**
## **A** dd **itional info** r **mation (optional)**
**----- Start of picture text -----**
You may choose to include further statements where relevant about:
Strong p rogress against fve year
strategic plan despite Covid pandemic,
Achievements against Para 1 41 . reviewed at each Board meeting
objectives set
Attraction of £9 5k of live giving even.
though individuals and congregations
Performance of were recovering f rom Covid pandemic
fundraising activities Para 1 41 .
against objectives set
Portfolio has g rown to £659k by end
September 2021.
Investment performance Para 1 41 .
against objectives
Planned merger with another Unitarian
Other Charity with substantial investments
nearly complete.
**----- End of picture text -----**
## **Financial** R **eview**
**----- Start of picture text -----**
Review of the charity’s Para 1 21 . Defcit reduced to £41k against a
fnancial position at the forecast defcit of £84K. Investment
end of the period assets increased.
Statement explaining the Para 1 22 . Investment assets of £659k held to
policy for holding support the operation of the College
reserves stating why
they a re held
Amount of reserves held Para 1 22 . £659k investments, £73k cash
Reasons for holding zero Para 1 22 . Not applicable
reserves
Details of fund materially Para 1 24 . Not applicable
in defcit
Explanation of any Para 1 23 . Charity is ongoing. Large injection of
uncertainties about the investment assets due to mergers with
charity continuing as a other charities expected during 21/22
going concern
**----- End of picture text -----**
## **A** dd **itional info** r **mation (optional)**
**----- Start of picture text -----**
You may choose to include further statements where relevant about:
Income included £9 5k of live giving.
and £104 2k of income f. rom other
The charity’s p rincipal Unitarian sources. £17k of investment
Para 1 47 .
sources of funds income was received.
(including any
fundraising)
£659k is invested in BNY Mellon
Charity Income and rG owth Fund. The
Investment policy and purpose of this is to generate income
Para 146
objectives including any and rg owth to support the activities of
social investment policy the College in the future. This
adopted investment meets the T rustees’ policy
of retaining a low to medium risk
focussing on future g rowth and
income. It also conformed to the
Trustees intention of holding no more
than 10% of investments in fossil
fuels.
Principal risks include:
Operational defcit budgeted in-
A description of the Para 1 46 . year to be countered by
principal risks facing the substantial cash donation to be
charity received in 21/22
Inability to expand activities due
to low income levels
Reputational risks if
programmes a re not of high
quality
Disruption if key staf were to
leave
Other
**----- End of picture text -----**
## **St** r **uctu** r **e, Gove** r **nance an** d M **anagement**
**----- Start of picture text -----**
Description of charity’s
trusts:
Type of governing Para 1 25 . Trust deed
document
(trust deed, royal charter)
How is the charity Para 1 25 . CIO
constituted?
(e g uninco. rporated
association, CIO)
Trustee selection Para 1 25 . Executive Committee of General
methods including details Assembly of Unitarian and rF ee
of any constitutional Christian Churches entitled to
provisions e g . . election to nominate one T rustee. All other
post o r name of any Trustees appointed by invitation.
person o r body entitled to
appoint one o r more
trustees
A dd itional info r mation (optional)
You may choose to include further statements where relevant about:
All new T rustees inducted individually
by the Board and D ri ector
Policies and rp ocedures
Para 1 51 .
adopted for the induction
and rt aining of t rustees
The Charity has a small Board of
Trustees and two employees, the
The charity’s D ri ector and the Ministry Tutor. Other
Para 1 51 .
organisational structure employees a re contracted to deliver
and any wider network specifc work.
with which the charity
works
Close working with the General
Assembly of Unitarian and rF ee
Relationship with any Para 1 51 . Christian Churches.
related parties
Other
**----- End of picture text -----**
## R **efe** r **ence an** d **A** d **minist** r **ative** d **etails**
**----- Start of picture text -----**
Charity name Unitarian College
Other name the charity
uses
Registered charity 1180457
number
**----- End of picture text -----**
**----- Start of picture text -----**
Charity’s p rincipal a ddress Unitarian Headquarters
1-6 Essex Street
London WC2R 3HY
**----- End of picture text -----**
## **Names of the cha** r **ity** r **t ustees who manage the cha** r **ity**
**----- Start of picture text -----**
Name of pe r son (o r bo d y)
D ates acte d if not fo r
T r ustee name Ofce (if any) entitle d to appoint r t ustee
whole yea r
(if any)
Dorothy Chair
1
Hewerdine
Marion Baker Executive Committee of
General Assembly of
2
Unitarian and rF ee
Christian Churches
Cathie
3
Masztalerz
4 Joan Cook
5 Hilda Dumpleton
Eleanor Watters Appointed February
6
2021
7
8
9
10
11
12
13
14
15
16
17
18
19
20
**----- End of picture text -----**
Corporate t rustees – names of the d ri ectors at the date the report was approved D **i** r **ecto** r **name**
Name of t rustees holding title to p roperty belonging to the charity **T** r **ustee name** D **ates acte** d **if not fo** r **whole**
**Fun** d **s hel** d **as custo** d **ian** r **t ustees on behalf of othe** r **s** Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets a re held and how this falls within the custodian charity’s objects
Details of a rrangements for safe custody and segregation of such assets f rom the charity’s own assets
## **A** dd **itional info** r **mation (optional) Names an** d ddr **a esses of** d **a vise** r **s (Optional info** r **mation)**
**Type of Name A** ddr **ess a** d **vise** r
**Name of chief executive** r **o names of senio** r **staf membe** r **s (Optional info** r **mation)**
## **Exemptions** r **f om** d **isclosu** r **e**
Reason for non-disclosure of key personnel details
## **Othe** r **optional info** r **mation**
## D **ecla** r **ations**
## **The** r **t ustees** d **ecla** r **e that they have app** r **ove** d **the** r **t ustees’** r **epo** r **t above** . **Signe** d **on behalf of the cha** r **ity’s** r **t ustees**
**Signatu** r **e(s)**
**Full name(s) Position (eg Sec** r **eta** r **y, Chai** r **, etc)**
D **ate**
**REGISTERED CHARITY NUMBER: 1180457**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 30 September 2021**
## **for**
## **Unitarian College**
CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
## **Unitarian College**
## **Contents of the Financial Statements for the Year Ended 30 September 2021**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Statement of Financial Position**||7||
|**Statement of Cash Flows**||8||
|**Notes to the Financial Statements**|9|to|14|
|**Detailed Statement of Financial Activities**|15|to|16|
## **Unitarian College**
## **Reference and Administrative Details for the Year Ended 30 September 2021**
## **TRUSTEES**
Mrs D C Hewerdine Mrs M Baker Mrs C Masztalerz Mrs H M Dumpleton Mrs J M M Cook Mrs E Watters (appointed 11/2/21)
## **PRINCIPAL ADDRESS**
Unitarian Headquarters Essex Hall 1 - 6 Essex Street London WC2R 3HY
## **REGISTERED CHARITY NUMBER** 1180457
## **INDEPENDENT EXAMINER**
CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
Page 1
## **Unitarian College**
## **Report of the Trustees for the Year Ended 30 September 2021**
The Trustees of Unitarian College ("the Charity") present their annual report for the period ended 30 September 2021 under the Charities Act 2011, together with the Independently Examined financial statements for that period. The accounts comply with the requirements the Charities Act 2011, the Charity's constitution and the relevant Statements of Recommended Practice (the Charities SORP 2005).
## **STATUS AND ADMINISTRATION**
The Charity is a Charity Incorporated Organisation (CIO), registered charity (No.1180457) that was incorporated on 28 October 2018. Its registered office is shown on page 1 of this report.
The present Trustees and any past Trustees who served during the period are shown on page 1, together with the names of the principal external advisers as at the date of the signing of this report.
## **OBJECTIVES AND ACTIVITIES Objectives and aims** OBJECTIVES
1. The promotion of religion in accordance with the principles, ethos and values of the General Assembly of Unitarian and Free Christian Churches;
2. The advancement of education for ministers and lay leaders through the provision of formal training courses and other courses and events to prepare ministers and lay leaders for this role; and
3. The encouragement of religious harmony, equality and diversity through the provision of courses and other learning and development opportunities for communities and individuals of all ages
## AIMS
1. Provision of Ministry training to student Ministers
2. Provision of training programmes for Unitarian lay leaders
3. Provision of courses in Chaplaincy and the conduct of Rites of Passage
## **Grantmaking**
Unitarian College is not a grant making charity. Small bursaries are paid to ministry students whilst they are undertaking some work placements.
## **Volunteers**
Trustees are volunteers. All other work undertaken by the charity is paid.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
1.Provision of Ministry training to student Ministers with six new Ministers valedicted from the college. 2.Provision of training programmes for Unitarian lay leaders.
3.Provision of courses in Chaplaincy and the conduct of Rites of Passage.
Page 2
## **Unitarian College**
## **Report of the Trustees for the Year Ended 30 September 2021**
## **FINANCIAL REVIEW**
## **Financial position**
The Charity has continued to receive sufficient donations to cover operating costs and build up investments and cash reserves.
Donations and legacies of £113,752 [2020: £628,953] were received in the year; Charitable activities generated £13,784 [2020: £Nil]; and investment income of £17,222 [2020: £6,455] was received. The Charity incurred total costs of £185,616 [2020: £143,718] and this resulted in a deficit of £40,859 [2120: Surplus £491,690]. After providing for the unrealised gains on investments, £103,369 [2020: Loss £44,501] a surplus of £62,510 [2020: £447,189] was added to retained funds. Thus supporting operations for the foreseeable future.
At 30 September 2021 the Charity had investments of £658,868 [2020: £555,499] and cash funds of £73,487 [2020: £124,642].
## **Investment policy and objectives**
Funds are invested in BNY Mellon Charity Income and Growth Fund on 31st January 2020. The purpose of this was to generate income and growth to support the activities of the College in the future. This investment meets the Trustees' policy of retaining a low to medium risk focussing on future growth and income. It also conformed to the Trustees intention of holding no more than 10% of investments in fossil fuels.
## **Reserves policy**
In the early years of operation our policy is to generate sufficient reserves to cover our expenditure for three years of trading.
## **FUTURE PLANS**
Planned merger with another Unitarian Charity with substantial investments well underway.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Charity is governed by its Trust Deed which was adopted on 28 October 2018 and is constituted as a Charity Incorporated Organisation [CIO].
The Trustees are responsible for the overall governance of the Charity.
## **Recruitment and appointment of new trustees**
Executive Committee of General Assembly of Unitarian and Free Christian Churches entitled to nominate one Trustee. All other Trustees appointed by invitation.
All new Trustees inducted individually by the Board and Director.
## **Organisational structure**
The Charity has a small Board of Trustees and two employees, the Director and the Ministry Tutor. Other employees are contracted to deliver specific work.
## **Related parties**
There is a close working relationship with the General Assembly of Unitarian and Free Christian Churches.
## **Risk management**
The Trustees review the risk situation at each Board meeting. Principal risks include:
- Operational deficit budgeted in-year to be countered by substantial cash donation to be received in 21/22 - Inability to expand activities due to low income levels
- Reputational risks if programmes are not of high quality
- Disruption if key staff were to leave
Page 3
## **Unitarian College**
## **Report of the Trustees for the Year Ended 30 September 2021**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... Mrs D C Hewerdine - Trustee
Page 4
## **Independent Examiner's Report to the Trustees of Unitarian College**
## **Independent examiner's report to the trustees of Unitarian College**
I report to the charity trustees on my examination of the accounts of Unitarian College (the Trust) for the year ended 30 September 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Graham Bennett Certified Accountant CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
Date: .............................................
Page 5
## **Unitarian College**
## **Statement of Financial Activities for the Year Ended 30 September 2021**
|2021
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
113,752
**Charitable activities**
3
Lay Leadership
13,784
Investment income
4
17,222
**Total**
144,758
**EXPENDITURE ON**
**Charitable activities**
Training Delivery
35,723
Student Costs
30,942
CIO Administration
118,952
**Total**
185,617
Net gains/(losses) on investments
103,369
**NET INCOME**
62,510
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
667,824
**TOTAL FUNDS CARRIED FORWARD**
730,334|2020
Total
funds
£
628,953
-
6,455
635,408
35,614
13,143
94,961
143,718
(44,501)
447,189
220,635
667,824|
|---|---|
The notes form part of these financial statements
Page 6
## **Unitarian College**
## **Statement of Financial Position 30 September 2021**
|Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Debtors
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds:
General fund
**TOTAL FUNDS**|2021
Unrestricted
fund
£
658,868
8,806
73,487
82,293
(10,827)
71,466
730,334
730,334
730,334
730,334|2020
Total
funds
£
555,499
1,300
124,642
125,942
(13,617)
112,325
667,824
667,824
667,824
667,824|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D C Hewerdine - Trustee
The notes form part of these financial statements
Page 7
## **Unitarian College**
|**Statement of Cash Flows**
**for the Year Ended 30 September 2021**
Notes
**Cash flows from operating activities**
Cash generated from operations
12
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Net cash provided by/(used in) investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|2021
£
(51,155)
(51,155)
-
-
(51,155)
124,642
73,487|2020
£
490,309
490,309
(600,000)
(600,000)
(109,691)
234,333
124,642|
|---|---|---|
The notes form part of these financial statements
Page 8
## **Unitarian College**
## **Notes to the Financial Statements for the Year Ended 30 September 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
|UCM
General Assembly
Memorial Hall
Other trusts
Placements
Districts and congregations
Individuals
Hibbert Trust|2021
£
28,918
45,020
9,000
5,861
15,499
8,034
1,420
-
113,752|2020
£
26,000
48,500
9,000
27,500
5,244
10,217
2,492
500,000
628,953|
|---|---|---|
Page 9
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **3. INCOME FROM CHARITABLE ACTIVITIES**
|Activity
Lay leadership
Lay Leadership
**4.**
**INVESTMENT INCOME**
Investment income|2021
£
13,784
2021
£
17,222|2020
£
-|
|---|---|---|
|||2020
£
6,455|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020.
## **Trustees' expenses**
Trustees have been reimbursed for travel and subsistence costs of £285 [2020: £445] which have been incurred in the performance of their duties for the Charity.
## **6. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Director
Other
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Training Delivery
Student Costs
CIO Administration
**Total**|2021
2020
1
1
1
1
2
2
Unrestricted
fund
£
628,953
6,455
635,408
35,614
13,143
94,961
143,718|
|---|---|
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Page 10
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
|**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||
|---|---|---|
|||Unrestricted|
|||fund|
|||£|
||Net gains/(losses) on investments|(44,501)|
||**NET INCOME**|447,189|
||**RECONCILIATION OF FUNDS**||
||**Total funds brought forward**|220,635|
||**TOTAL FUNDS CARRIED FORWARD**|667,824|
|**8.**|**FIXED ASSET INVESTMENTS**||
|||Listed|
|||investments|
|||£|
||**MARKET VALUE**||
||At 1 October 2020|600,000|
||Revaluations|58,868|
||At 30 September 2021|658,868|
||**PROVISIONS**||
||At 1 October 2020|44,501|
||Provision written back|(44,501)|
||At 30 September 2021|-|
||**NET BOOK VALUE**||
||At 30 September 2021|658,868|
||At 30 September 2020|555,499|
||There were no investment assets outside the UK.||
||Cost or valuation at 30 September 2021 is represented by:||
|||Listed|
|||investments|
|||£|
||Valuation in 2021|58,868|
||Cost|600,000|
|||658,868|
Page 11
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Taxation and social security
Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
144,758
**TOTAL FUNDS**
144,758|At
1/10/20
£
667,824
667,824
Resources
expended
£
(185,617)
(185,617)|2021
2020
£
£
2,600
5,553
8,227
8,064
10,827
13,617
Net
movement
At
in funds
30/9/21
£
£
62,510
730,334
62,510
730,334
Gains and
Movement
losses
in funds
£
£
103,369
62,510
103,369
62,510|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1/10/19
£
220,635
220,635|Net
movement
in funds
£
447,189
447,189|At
30/9/20
£
667,824
667,824|
|---|---|---|---|
Page 12
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
635,408
635,408|Resources
expended
£
(143,718)
(143,718)|Gains and
Movement
losses
in funds
£
£
(44,501)
447,189
(44,501)
447,189|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1/10/19
£
220,635
220,635|Net
movement
in funds
£
509,699
509,699|At
30/9/21
£
730,334
730,334|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
780,166
780,166|Resources
expended
£
(329,335)
(329,335)|Gains and
Movement
losses
in funds
£
£
58,868
509,699
58,868
509,699|
|---|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2021.
Page 13
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **12. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
(Gain)/losses on investments
Increase in debtors
Decrease in creditors
**Net cash (used in)/provided by operations**
**13..**
**ANALYSIS OF CHANGES IN NET FUNDS**|2021
£
62,510
(103,369)
(7,506)
(2,790)
(51,155)|2020
£
447,189
44,501
(615)
(766)
490,309|
|---|---|---|
||At 1/10/20|Cash flow|At 30/9/21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|124,642|(51,155)|73,487|
||124,642|(51,155)|73,487|
|**Total**|124,642|(51,155)|73,487|
Page 14
## **Unitarian College**
## **Detailed Statement of Financial Activities for the Year Ended 30 September 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
UCM
General Assembly
Memorial Hall
Other trusts
Placements
Districts and congregations
Individuals
Hibbert Trust
**Investment income**
Investment income
**Charitable activities**
Lay leadership
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Programme leaders
Contracted staff fees
Residential fees
Youth programmes
Orientation retreat
Course fees - students
Lay Leadership
Maintenance grants
Staff training
**Support costs**
**Management**
Wages
Social security
Pensions
Insurance
Sundries
Board and Academic committee
Travel costs
Carried forward|2021
£
28,918
45,020
9,000
5,861
15,499
8,034
1,420
-
113,752
17,222
13,784
144,758
4,268
11,985
8,622
-
-
5,440
10,848
21,009
-
62,172
90,000
5,908
7,750
900
292
1,261
4,239
110,350|2020
£
26,000
48,500
9,000
27,500
5,244
10,217
2,492
500,000
628,953
6,455
-
635,408
1,750
19,944
6,788
4,604
685
7,520
1,018
5,623
825
48,757
63,700
2,419
4,750
879
357
7,097
4,604
83,806|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15
## **Unitarian College**
## **Detailed Statement of Financial Activities for the Year Ended 30 September 2021**
|**Management**
Brought forward
Office equipment
Computer and website costs
Advertising and publicity
Legal and professional fees
Bank charges
Accountancy costs
General Assembly support costs
Total resources expended
**Net (expenditure)/income**|2021
£
110,350
1,342
3,743
134
169
87
1,620
6,000
123,445
185,617
(40,859)|2020
£
83,806
1,121
2,260
234
40
60
1,440
6,000
94,961
143,718
491,690|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
**REGISTERED CHARITY NUMBER: 1180457**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 30 September 2021**
## **for**
## **Unitarian College**
CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
## **Unitarian College**
## **Contents of the Financial Statements for the Year Ended 30 September 2021**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Statement of Financial Position**||7||
|**Statement of Cash Flows**||8||
|**Notes to the Financial Statements**|9|to|14|
|**Detailed Statement of Financial Activities**|15|to|16|
## **Unitarian College**
## **Reference and Administrative Details for the Year Ended 30 September 2021**
## **TRUSTEES**
Mrs D C Hewerdine Mrs M Baker Mrs C Masztalerz Mrs H M Dumpleton Mrs J M M Cook Mrs E Watters (appointed 11/2/21)
## **PRINCIPAL ADDRESS**
Unitarian Headquarters Essex Hall 1 - 6 Essex Street London WC2R 3HY
## **REGISTERED CHARITY NUMBER** 1180457
## **INDEPENDENT EXAMINER**
CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
Page 1
## **Unitarian College**
## **Report of the Trustees for the Year Ended 30 September 2021**
The Trustees of Unitarian College ("the Charity") present their annual report for the period ended 30 September 2021 under the Charities Act 2011, together with the Independently Examined financial statements for that period. The accounts comply with the requirements the Charities Act 2011, the Charity's constitution and the relevant Statements of Recommended Practice (the Charities SORP 2005).
## **STATUS AND ADMINISTRATION**
The Charity is a Charity Incorporated Organisation (CIO), registered charity (No.1180457) that was incorporated on 28 October 2018. Its registered office is shown on page 1 of this report.
The present Trustees and any past Trustees who served during the period are shown on page 1, together with the names of the principal external advisers as at the date of the signing of this report.
## **OBJECTIVES AND ACTIVITIES Objectives and aims** OBJECTIVES
1. The promotion of religion in accordance with the principles, ethos and values of the General Assembly of Unitarian and Free Christian Churches;
2. The advancement of education for ministers and lay leaders through the provision of formal training courses and other courses and events to prepare ministers and lay leaders for this role; and
3. The encouragement of religious harmony, equality and diversity through the provision of courses and other learning and development opportunities for communities and individuals of all ages
## AIMS
1. Provision of Ministry training to student Ministers
2. Provision of training programmes for Unitarian lay leaders
3. Provision of courses in Chaplaincy and the conduct of Rites of Passage
## **Grantmaking**
Unitarian College is not a grant making charity. Small bursaries are paid to ministry students whilst they are undertaking some work placements.
## **Volunteers**
Trustees are volunteers. All other work undertaken by the charity is paid.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
1.Provision of Ministry training to student Ministers with six new Ministers valedicted from the college. 2.Provision of training programmes for Unitarian lay leaders.
3.Provision of courses in Chaplaincy and the conduct of Rites of Passage.
Page 2
## **Unitarian College**
## **Report of the Trustees for the Year Ended 30 September 2021**
## **FINANCIAL REVIEW**
## **Financial position**
The Charity has continued to receive sufficient donations to cover operating costs and build up investments and cash reserves.
Donations and legacies of £113,752 [2020: £628,953] were received in the year; Charitable activities generated £13,784 [2020: £Nil]; and investment income of £17,222 [2020: £6,455] was received. The Charity incurred total costs of £185,616 [2020: £143,718] and this resulted in a deficit of £40,859 [2120: Surplus £491,690]. After providing for the unrealised gains on investments, £103,369 [2020: Loss £44,501] a surplus of £62,510 [2020: £447,189] was added to retained funds. Thus supporting operations for the foreseeable future.
At 30 September 2021 the Charity had investments of £658,868 [2020: £555,499] and cash funds of £73,487 [2020: £124,642].
## **Investment policy and objectives**
Funds are invested in BNY Mellon Charity Income and Growth Fund on 31st January 2020. The purpose of this was to generate income and growth to support the activities of the College in the future. This investment meets the Trustees' policy of retaining a low to medium risk focussing on future growth and income. It also conformed to the Trustees intention of holding no more than 10% of investments in fossil fuels.
## **Reserves policy**
In the early years of operation our policy is to generate sufficient reserves to cover our expenditure for three years of trading.
## **FUTURE PLANS**
Planned merger with another Unitarian Charity with substantial investments well underway.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Charity is governed by its Trust Deed which was adopted on 28 October 2018 and is constituted as a Charity Incorporated Organisation [CIO].
The Trustees are responsible for the overall governance of the Charity.
## **Recruitment and appointment of new trustees**
Executive Committee of General Assembly of Unitarian and Free Christian Churches entitled to nominate one Trustee. All other Trustees appointed by invitation.
All new Trustees inducted individually by the Board and Director.
## **Organisational structure**
The Charity has a small Board of Trustees and two employees, the Director and the Ministry Tutor. Other employees are contracted to deliver specific work.
## **Related parties**
There is a close working relationship with the General Assembly of Unitarian and Free Christian Churches.
## **Risk management**
The Trustees review the risk situation at each Board meeting. Principal risks include:
- Operational deficit budgeted in-year to be countered by substantial cash donation to be received in 21/22 - Inability to expand activities due to low income levels
- Reputational risks if programmes are not of high quality
- Disruption if key staff were to leave
Page 3
## **Unitarian College**
## **Report of the Trustees for the Year Ended 30 September 2021**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... Mrs D C Hewerdine - Trustee
Page 4
## **Independent Examiner's Report to the Trustees of Unitarian College**
## **Independent examiner's report to the trustees of Unitarian College**
I report to the charity trustees on my examination of the accounts of Unitarian College (the Trust) for the year ended 30 September 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Graham Bennett Certified Accountant CBM Accountants Limited 130 Bournemouth Road Chandler's Ford Eastleigh Hampshire SO53 3AL
Date: .............................................
Page 5
## **Unitarian College**
## **Statement of Financial Activities for the Year Ended 30 September 2021**
|2021
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
113,752
**Charitable activities**
3
Lay Leadership
13,784
Investment income
4
17,222
**Total**
144,758
**EXPENDITURE ON**
**Charitable activities**
Training Delivery
35,723
Student Costs
30,942
CIO Administration
118,952
**Total**
185,617
Net gains/(losses) on investments
103,369
**NET INCOME**
62,510
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
667,824
**TOTAL FUNDS CARRIED FORWARD**
730,334|2020
Total
funds
£
628,953
-
6,455
635,408
35,614
13,143
94,961
143,718
(44,501)
447,189
220,635
667,824|
|---|---|
The notes form part of these financial statements
Page 6
## **Unitarian College**
## **Statement of Financial Position 30 September 2021**
|Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Debtors
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds:
General fund
**TOTAL FUNDS**|2021
Unrestricted
fund
£
658,868
8,806
73,487
82,293
(10,827)
71,466
730,334
730,334
730,334
730,334|2020
Total
funds
£
555,499
1,300
124,642
125,942
(13,617)
112,325
667,824
667,824
667,824
667,824|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D C Hewerdine - Trustee
The notes form part of these financial statements
Page 7
## **Unitarian College**
|**Statement of Cash Flows**
**for the Year Ended 30 September 2021**
Notes
**Cash flows from operating activities**
Cash generated from operations
12
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Net cash provided by/(used in) investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|2021
£
(51,155)
(51,155)
-
-
(51,155)
124,642
73,487|2020
£
490,309
490,309
(600,000)
(600,000)
(109,691)
234,333
124,642|
|---|---|---|
The notes form part of these financial statements
Page 8
## **Unitarian College**
## **Notes to the Financial Statements for the Year Ended 30 September 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
|UCM
General Assembly
Memorial Hall
Other trusts
Placements
Districts and congregations
Individuals
Hibbert Trust|2021
£
28,918
45,020
9,000
5,861
15,499
8,034
1,420
-
113,752|2020
£
26,000
48,500
9,000
27,500
5,244
10,217
2,492
500,000
628,953|
|---|---|---|
Page 9
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **3. INCOME FROM CHARITABLE ACTIVITIES**
|Activity
Lay leadership
Lay Leadership
**4.**
**INVESTMENT INCOME**
Investment income|2021
£
13,784
2021
£
17,222|2020
£
-|
|---|---|---|
|||2020
£
6,455|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020.
## **Trustees' expenses**
Trustees have been reimbursed for travel and subsistence costs of £285 [2020: £445] which have been incurred in the performance of their duties for the Charity.
## **6. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Director
Other
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Training Delivery
Student Costs
CIO Administration
**Total**|2021
2020
1
1
1
1
2
2
Unrestricted
fund
£
628,953
6,455
635,408
35,614
13,143
94,961
143,718|
|---|---|
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Page 10
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
|**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||
|---|---|---|
|||Unrestricted|
|||fund|
|||£|
||Net gains/(losses) on investments|(44,501)|
||**NET INCOME**|447,189|
||**RECONCILIATION OF FUNDS**||
||**Total funds brought forward**|220,635|
||**TOTAL FUNDS CARRIED FORWARD**|667,824|
|**8.**|**FIXED ASSET INVESTMENTS**||
|||Listed|
|||investments|
|||£|
||**MARKET VALUE**||
||At 1 October 2020|600,000|
||Revaluations|58,868|
||At 30 September 2021|658,868|
||**PROVISIONS**||
||At 1 October 2020|44,501|
||Provision written back|(44,501)|
||At 30 September 2021|-|
||**NET BOOK VALUE**||
||At 30 September 2021|658,868|
||At 30 September 2020|555,499|
||There were no investment assets outside the UK.||
||Cost or valuation at 30 September 2021 is represented by:||
|||Listed|
|||investments|
|||£|
||Valuation in 2021|58,868|
||Cost|600,000|
|||658,868|
Page 11
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Taxation and social security
Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
144,758
**TOTAL FUNDS**
144,758|At
1/10/20
£
667,824
667,824
Resources
expended
£
(185,617)
(185,617)|2021
2020
£
£
2,600
5,553
8,227
8,064
10,827
13,617
Net
movement
At
in funds
30/9/21
£
£
62,510
730,334
62,510
730,334
Gains and
Movement
losses
in funds
£
£
103,369
62,510
103,369
62,510|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1/10/19
£
220,635
220,635|Net
movement
in funds
£
447,189
447,189|At
30/9/20
£
667,824
667,824|
|---|---|---|---|
Page 12
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
635,408
635,408|Resources
expended
£
(143,718)
(143,718)|Gains and
Movement
losses
in funds
£
£
(44,501)
447,189
(44,501)
447,189|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1/10/19
£
220,635
220,635|Net
movement
in funds
£
509,699
509,699|At
30/9/21
£
730,334
730,334|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
780,166
780,166|Resources
expended
£
(329,335)
(329,335)|Gains and
Movement
losses
in funds
£
£
58,868
509,699
58,868
509,699|
|---|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2021.
Page 13
continued...
## **Unitarian College**
## **Notes to the Financial Statements - continued for the Year Ended 30 September 2021**
## **12. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
(Gain)/losses on investments
Increase in debtors
Decrease in creditors
**Net cash (used in)/provided by operations**
**13..**
**ANALYSIS OF CHANGES IN NET FUNDS**|2021
£
62,510
(103,369)
(7,506)
(2,790)
(51,155)|2020
£
447,189
44,501
(615)
(766)
490,309|
|---|---|---|
||At 1/10/20|Cash flow|At 30/9/21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|124,642|(51,155)|73,487|
||124,642|(51,155)|73,487|
|**Total**|124,642|(51,155)|73,487|
Page 14
## **Unitarian College**
## **Detailed Statement of Financial Activities for the Year Ended 30 September 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
UCM
General Assembly
Memorial Hall
Other trusts
Placements
Districts and congregations
Individuals
Hibbert Trust
**Investment income**
Investment income
**Charitable activities**
Lay leadership
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Programme leaders
Contracted staff fees
Residential fees
Youth programmes
Orientation retreat
Course fees - students
Lay Leadership
Maintenance grants
Staff training
**Support costs**
**Management**
Wages
Social security
Pensions
Insurance
Sundries
Board and Academic committee
Travel costs
Carried forward|2021
£
28,918
45,020
9,000
5,861
15,499
8,034
1,420
-
113,752
17,222
13,784
144,758
4,268
11,985
8,622
-
-
5,440
10,848
21,009
-
62,172
90,000
5,908
7,750
900
292
1,261
4,239
110,350|2020
£
26,000
48,500
9,000
27,500
5,244
10,217
2,492
500,000
628,953
6,455
-
635,408
1,750
19,944
6,788
4,604
685
7,520
1,018
5,623
825
48,757
63,700
2,419
4,750
879
357
7,097
4,604
83,806|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15
## **Unitarian College**
## **Detailed Statement of Financial Activities for the Year Ended 30 September 2021**
|**Management**
Brought forward
Office equipment
Computer and website costs
Advertising and publicity
Legal and professional fees
Bank charges
Accountancy costs
General Assembly support costs
Total resources expended
**Net (expenditure)/income**|2021
£
110,350
1,342
3,743
134
169
87
1,620
6,000
123,445
185,617
(40,859)|2020
£
83,806
1,121
2,260
234
40
60
1,440
6,000
94,961
143,718
491,690|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16