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2021-08-31-accounts

Trustees Professor
D W Cranston		 Professor
D W Cranston		 (Chairman) (Chairman)
Mrs G R Dyrness
(Vice Chairman)
Mr N P Andrews
(Resigned		 27/05/2021)
Dr P Bendor-Samuel
(Executive Director)
Mrs SA Hinson (Resigned 14/08/2021)
DrJSLee
Dr R(Padilla De Borst
Mrs M LSawyer
Mr J C Heyward
(Appointed		 12/07/2021)
Dr D M Kasali (Appointed 29/04/2021)
Dr K Kevichusa
(Appointed		 24/09/2020)
Chief Operations Officer appointed Dr R D Brunt
Secretary
Charity number 290112
Company number 01835274
Principal address St Philip &St James Church
Woodstock Road
OXFORD
OX2 6HR
Registered office St Philip 8 St James Church
Woodstock Road
OXFORD
OX2 6HR
Auditor Craufurd
Hale		 Audit Services Limited
C/O Craufurd Hale Group
Ground
Floor,		 Arena Court
Crown Lane
MAIDENHEAD
SL68QZ
Bankers Royal Bank ofScotland Pic
Oxford South West RCSC
74Waterside Drive
Aztec West
ALMONDSEY
BS995BD

Page
Trustees'
report		 1-9
Independent
auditor's		 report to-t3
Statement offinancial activities 14-15
Balance sheet 16
Statement ofcash flows 17
Notes to the financial statements 18-31

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2021 2020
Notes 6 5 6
Fixed assets
Tangible assets 12 1,655,322 1,566,189
Investments 13 4 4
1,655,326 1,566,193
Current assets
Stocks 14 5,000 5,000
Debtors 15 41,190 51,396
Cash at bank and in hand 982,589 652,083
1,028,779 708,479
Creditors: amounts falling due within
one year 17 (622,032) (499,706)
Net current assets 406,747 208,773
Total assets less current liabilities 2,062,073 1,774,966
Creditors: amounts falling due after
more than one year 18 (248,636) (258,372)
Net assets 1,813,437 1,516,594
Represented
by
Endowment
funds		 20 1,004,870 1,004,870
Restricted funds 21 323,520 168,496
Unrestricted
funds
Designated
property		 fund 22 181,312 156,838
General unrestricted funds 303,735 186,390
485,047 343,228
1,813,437 1,516,594

2021 2020
Notes 6 6
Cash flows from operating activities
Cash generated
from operations		 28 456,581 128,183
Investing
activities
Purchase oftangible fixed assets (96,579) (1,680)
Interest received 81 1,113
Net cash used in investing activities (96,498) (567)
Financing activities
Repayment
ofbank loans		 (24,474) (23,674)
Net cash used in financing activities (24,474) (23,674)
Net increase
in cash and cash equivalents		 335,609 103,942
Cash and cash equivalents at beginning ofyear 646,980 543,038
Cash and cash equivalents at end of year 982,589 646,980
Relating to:
Cash at bank and
in hand		 982,589 652,083
Bank overdrafts
included		 in creditors
payable
within one year		 (5,103)
982,589 646,980

their usef ul lives on the following base s:
Freehold land and buildings Not depreciated as discussed below
St Philip &St James' Church Not depreciated as discussed below
Fixtures and fittings 2% Straight
Line		 Method
Computers 33%Straight
Line Method

Charitable
 activities
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 202f 2020 2020 2020
f 0 0 0
Tuition fees 714,933 714,933 771,180 771,180
Support for
publications		 and sale of
etc.		 16,856 16,856 16,051 16,051
Contributions
overheads		 to 13,500 13,500 14,145 14,145
728,433 16,856 745,289 785,325 16,051 801,376

Total Unrestricted
funds
2021 2020
6
Fundraisin and ublici
Staging fundraising events 834
834

Charitable
activities
Unrestricted Restricted TotalUnrestrlcted Restricted Total
Funds Funds 2021 Funds Funds 2020
General General
2021
8		 2021
5		 8 2020
f		 2020
Staff costs (note 11) 572,125 5,000 577,125 488,243 15,000 503,243
Scholarships
allocated		 95,422 106,632 202,054 143,947 90,740 234,687
Provision
ofcourse
programme
costs		 37,254 37,254 82,832 82,832
Publications 24,511 24,511 22,067 22,067
Bad debts (15,009) (15,009) 4,320 4,320
Support costs 28,953 66,370 95,323 69,799 100,431 170,230
Legal and professional
fees 12,766 12,766
Audit and accountancy 9,456 9,456 12,085 12,085
Trustees'
Indemnity
Insurance		 15,331 15,331 688 688
Mortgage
interest		 7,347 7,347 8,770 8,770
Architect consultancy fees 1,000 1,417 2,417 44,383 3,746 48,129
IT,website and other
consultancy
fees		 31,215 31,215 22,815 22,815
IT Infrastructure
virtual
learning 1,530 1,530
795,860 205,460 1,001,320 877,882 231,984 1,109,866

8 Costs ofcharitable activities by activity type
Activities Support Totalfunds Activities Support Total funds
undertaken activities 2021 undertaken activities 2020
directly directly
6 5
Staff costs (note 11) 424,153 152,972 577,125 344,723 158,520 503,243
Scholarships
allocated		 202,054 95,323 297,377 234,687 170,230 404,917
Provision ofcourse
programme
costs		 37,254 37,254 82,832 82,832
Publications 24,511 24,511 22,067 22,067
Bad debts (15,009) (15,009) 4,320 4,320
Legal snd professional
fees 12,766 12,766
Audit fees 4,000 4,000 3,600 3,600
Accountancy
fees		 5,456 5,456 8,485 8,485
Trustees
indemnity
insurance		 15,331 15,331 688 688
Mortgage
interest		 7,347 7,347 8,770 8,770
Architect consultancy
fees		 2,417 2,417 48,129 48,129
It, website and other
consultancy
fees		 31,215 31,215 22 815 22815
IT Infratructure
virtual
learning 1,530 1,530
672,963 328,357 1,001,320 688,629 421,237 1,109,866
9 Grants Expended
Unrestricted Unrestricted
funds funds
2021 2020
5,000 5,000

Number ofemployee Number ofemployee s s
The average
monthly		 number ofemployees during the year was:
2021 2020
Number Number
Academic,
library and		 developent
Administrative
Management
14 14
Seconded and volunteer personnel 14 14
The aggregate payroll costs ofthese employees were as follows: 2021
6		 2020
6
Wages and salaries 517,667 443,397
Social security costs 38,940 37,134
Other pension costs 20,518 22,712
577,125 503,243

Tangible fix ed assets
StPhilip &St Freehold Fixtures aod Total
James' Church property fittings
6
Cost
At 1 September 2020 1,004,870 431,160 188,222 1,624,252
Additions 91,023 5,556 96,579
At 31August 2021 1,095,893 431,160 193,778 1,720,831
Depreciation and impairment
At 1 September 2020 58,063 58,063
Depreciation charged in the year 7,446 7,446
At 31August 2021 65,509 65,509
Carrying
amount
At 31August 2021 1,095,893 431,160 128,269 1,655,322
At 31August 2020 1,004,870 431,160 130,159 1,566,189

13 Fixed asset invest ments
Other
investments
Cost or valuation
At 1 September 2020 8 31August 2021
Carrying
amount
At 31August 2021
At 31August 2020
2021 2020
Other investments comprise: Notes 6
Investments
in subsidiaries		 27
14 Stocks
2021 2020
Stock ofpublications 5,000 5,000
15 Debtors
Amounts
falling due within one year:		 2021f 2020
6
Trade debtors 25,620 24,832
Other debtors 15,570 26,564
41,190 51,396

2021 2020
6 6
Bank overdraRs 5,103
Bank loans 258,138 282,612
258,138 287,715
Payable within one year 9,502 29,343
Payable after one year 248,636 258,372
Creditor s: amoun ts
falling due within one year
Notes 2021f 2020
Bank loans and overdrafts 16 9,502 29,343
Other taxation and social security 9,880 12,464
Trade creditors 48,926 17,549
Student fees paid in advance 347,308 252,200
Amounts owed to fellow group undertakings 4 4
Deferred income 59,387 13,900
Accruals 147,025 174,246
622,032 499,706

Creditors: amounts
falling due after		 more than one year
Notes 2021f 2020
Bankloans 16 248,636 258,372

Movement Movement in funds
Balance at Incoming Resources Transfers Balance at
1 September
2020		 resources expended 31August
2021
K f
Freehold Property Endowment Fund 1,004,870 1,004,870
1,004,870 1,004,870

Movement in funds
Balance at Incommg Resources Transfers Revaluations, Balance at
1September
2020		 resources expended gains and
losses		 31August
2021
9
Scholarship funds 50,513 96,545 (106,152) 40,906
AMRI 59,453 53,195 (64,796) 47,852
Publications fund 9,901 16,856 (24,511) 511 2,757
Windows
appeal		 5,926 5,926
Organisational
case review		 31,172 31,172
Guided research
programme 480 (480)
International mission
leaders 31,431 5,300 201 36,932
St Philip &StJames
Development		 6,200 101,550 (1,417) (51,024) 55,309
Capitalised
costs		 development 91,024 91,024
IT Infastructure
Virtual
Learning 2,000 9,000 (1,530) (4,636) 4,834
IT equipment capitilised 4,636 4,636
Orthodox
church project		 5,000 (5,000)
Paul Woods research
costs 1,329 (378) 951
Peer supportfunds 1,743 875 (1,397) 1,221
168,496 319,973 (205,460) 40,511 323,520

Movement
In Funds		 Movement
In Funds		 Movement
In Funds
Balance at Transfers Balance at Transfers Balance at
1 September
2019		 1 September
2020		 31 August
2021
6 6
Property Fund 133,164 23,674 156,838 24,474 181,312
133,164 23,674 156,838 24,474 181,312
23 Analysis ofnet assets between funds
Unrestricted Designated Restricted Endowment Total
funds funds funds funds
2021
8		 2021
6		 2021
8		 2021
5		 2021f
Fund balances at 31 August 2021
are represented
by:
Tangible assets 119,979 439,450 91,023 1,004,870 1,655,322
Investments 4 4
Current assets/(habilities) 183,992 (9,502) 232,257 406,747
Long term liabilities (248,636) (248,636)
303,975 181,312 323,280 1,004,870 1,813,437
24 Operating
lease commitments
At the reporting
end		 date the Charity had outstanding commitments for future minimum
lease		 payments
under non-cancellable operating leases, which fall due as follows:
2021 2020
8 6
Within one year 1,336 1,336
Between two and five years 1,336
1,336 2,672

28 Cash generated
from		 Cash generated
from		 operations operations 2021 2020
6
Surplus for the year 296,843 113,394
Adjustments for:
Investment income recognised in statement offinancial activities (81) (1,113)
Depreciation and impairment oftangible fixed assets 7,446 7,869
Movements in working capital:
Decrease
in debtors		 10,206 3,462
Increase
in		 creditors 142,167 4,571
Cash generated
from		 operations 456,581 128,813

29 Analysis ofchanges
in net funds
At 1 September Cash flows At 31August
2020 2021
9
Cash at bank and in hand 652,083 330,506 982,589
Bank overdrafts (5,103) 5,103
646,980 335,609 982,589
Loans falling due within one year (24,240) 14,738 (9,502)
Loans falling due after more than one year (258,372) 9,736 (248,636)
364,368 360,083 724,451

2021 2020
6 6
Balances brought forward 22,307 24,061
Net movement in the period (3,583) (1,754)
Balance carried forward 18,724 22,307