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2022-08-31-accounts

Trustees Professor D W Cranston Professor D W Cranston Professor D W Cranston (Chairman) (Chairman)
Mrs G R Dyrness (Vice Chairman)
Dr P Bendor-Samuel (Executive Director)
DrJSLee
Dr R I Padilla De Borst
Mrs M LSawyer
Mr J C Heyward
Dr D M Kasali
Dr K Kevichusa
Mr(W H Smith (Appointed 03/12/2021)
Chief Operations Officer appointed Dr R D Brunt
Secretary
Charity number 290112
Company number 01835274
Principal address St Philip &StJames Church
Woodstock Road
OXFORD
OX2 6HR
Registered office St Philip 8 StJames Church
Woodstock Road
OXFORD
OX2 6HR
Auditor Craufurd
Hale		 Audit Services Limited
C/0 Craufurd Hale Group
Ground
Floor,		 Arena Court
Crown Lane
MAIDENHEAD
SL68QZ
Bankers Royal Bank ofScotland Pic
Oxford South West RCSC
74 Waterside Drive
Aztec West
ALMONDSEY
BS995BD

Page
Trustees'
report		 1-9
Independent
auditor's		 report 10-13
Statement offinancial activities 14-15
Balance sheet 16
Statement ofcash flows 17
Notes to the financial statements 18-30

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2022 2021
Notes 8 8
Fixed assets
Tangible assets 11 1,754,692 1,655,322
Investments 12 4 4
1,754,696 1,655,326
Current assets
Stocks 13 5,000 5,000
Debtors 14 26,149 41,190
Cash at bank and in hand 1,007,892 982,589
1,039,041 1,028,779
Creditors: amounts
one year		 falling due within 16 (4sg,ese) (622,032)
Net current assets 579,185 406,747
Total assets less current liabilities 2,333,881 2,062,073
Creditors: amounts
more than one year		 falling due after 17 (239,277) (248,636)
Net assets 2,094,604 1,813,437
Represented
by
Endowment
funds		 19 1,004,870 1,004,870
Restricted funds 20 401,711 323,520
Unrestricted
funds
Designated
property		 fund 21 190,536 181,312
General unrestricted funds 497,487 303,735
688,023 485,047
2,094,604 1,813,437

2022 2021
Notes 6 6
Cash flows from operating activities
Cash generated
from operations		 26 142,521 456,581
Investing activities
Purchase oftangible
fixed assets		 (108,676) (96,579)
Investment income received 682 81
Net cash used in investing activities (107,994) (96,498)
Financing activities
Repayment of bank loans (9,224) (24,474)
Net cash used in financing activities (9,224) (24,474)
Net increase
in cash and cash equivalents		 25,303 335,609
Cash and cash equivalents at beginning ofyear 982,589 646,980
Cash and cash equivalents at end of year 1,007,892 982,589

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2022f 2022f 2022f 2021
f		 2021 2021f
Donations
and Sifts		 183,476 30,917 214,393 173,747 19,780 193,527
Grants receivable for
scholarships 96,930 96,930 96,545 96,545
St Philip and
development		 StJames
donations		 100,210 100,210 101,550 101,550
Other grants receivable 20,000 136,055 156,055 80,429 85,242 165,671
203,476 364,112 567,588 254,176 303,117 557,293

Unrestricted Restricted Total unrestricted Restricted Total
funds funds funds funda
2C22 2C22 2022 2021 2021 2021
E s s f f
Tuition fees 701,889 701,889 714,933 714,933
Support for
publications		 and sale of
etc.		 43,552 43,552 16,856 16,856
Contributions to
overheads 31,686 31,686 13,500 13,500
733,575 43,552 777,127 728,433 16,856 745,289
Unrestricted Unrestricted
funds funds
2022f 2021
Interest receivable 682 81

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds
General General
2022 2022 2022 2021 2021 2021
5 8 6 6 E F
Staff costs (note 10) 463,342 463,342 572,125 5,000 577,125
Scholarships
allocated		 127,557 112,784 240,341 95,422 106,632 202,054
Provision ofcourse
programme costs 6,417 31,172 37,589 37,254 37,254
Publications 31,871 31,871 24,511 24,511
Bad debts 11,527 11,527 (15,009) (15,009)
Support costs 35,501 150,281 185,782 28,953 66,370 95,323
Legal and professional fees 24,359 24,359 12,766 12,766
Audit and accountancy 10,737 10,737 9,456 9,456
Trustees'
Insurance		 Indemnity 15,381 15,381 15,331 15,331
Mortgage interest 8,254 8,254 7,347 7,347
Architect consultancy fees 1,000 1,417 2,417
IT, website and other
consultancy
fees		 23,182 23,182 31,215 31,215
IT Infrastructure
virtual
learning 3,365 3,365 1,530 1,530
726,257 329,473 1,055,730 795,860 205,460 1,001,320

Costs ofcharitable activities by activity activities by activity type
Activities
undertaken		 Support
activities		 Total funds
2022		 Activities
undertaken		 Support
acbvnties		 Totalfunds
2021
directly
8		 f directly
8
Staff costs (note 10) 430,777 32,565 463,342 424,153 152,972 577,125
Scholarships
allocated		 240,341 185,782 426,123 202,054 95,323 297,377
Provision ofcourse
programme
costs		 6,417 31,172 37,589 37,254 37,254
Publications 31,871 31,871 24,511 24,511
Bad debts 11,527 11,527 (15,009) (15,009)
Legal and professional
fees		 24,359 24,359 12,766 12,766
Audit fees 4,000 4,000 4,000 4,000
Accountancy
fees		 6,737 6,737 5,456 5,456
Trustees
indemnity
insurance		 15,381 15,381 15,331 15,331
Mortgage interest 8,254 8,254 7,347 7,347
Architect consultancy
fees		 2,417 2,417
It, website and other
consultancy
fees		 23,182 23,182 31,215 31,215
IT Infratructure
virtual
learning 3,365 3,365 1,530 1,530
720,933 334,797 1,055,730 672,963 328,357 1,001,320
8 Grants Expended
Unrestricted Unrestricted
funds funds
2022 2021
To organisations 9,000 5,000

2022 2021
Number Number
Academic,
library and developent
Administrative
Management
14
Seconded and volunteer personnel 14
The aggregate payroll costs ofthese employees were as follows: 2022 2021f
Wages and salaries 412,212 517,667
Social security costs 32,565 38,940
Other pension costs 18,565 20,518
463,342 577,125

Tangible fix ed assets
Stphigp aSt Freehold Flrdurea
and		 Total
James' Churchf property
f		 nttlnga
f
Cost
At 1 September 2021 1,095,893 431,160 193,778 1,720,831
Additions 96,094 12,582 108,676
At 31August 2022 1,191,987 431,160 206,360 1,829,507
Depreciation and impairment
At 1 September 2021 65,509 65,509
Depreciation charged in the year 9,306 9,306
At 31August 2022 74,815 74,815
Carrying
amount
At 31August 2022		 1,191,987 431,160 131,545 1,754,692
At 31August 2021 1,095,893 431,160 128,269 1,655,322

12 Fixed asset investments
Other
investments
Cost orvaluation
At 1 September 2021 &31August 2022
Carrying
amount
At 31August 2022
At 31August 2021
2022 2021
Other investments
comprise:		 Notes 5 5
Investments
in subsidiaries		 25
13 Stocks
2022 2021
Stock ofpublications 5,000 5,000
14 Debtors
2022 2021
Amounts
falling due within one year:		 6
Trade debtors 10,556 25,620
Other debtors 15,593 15,570
26,149 41,190
15 Loans and overdrsfts
2022 2021
5 5
Bankloans 248,914 258,138
Payable within one year 9,637 9,502
Payable after one year 239,277 248,636

Creditor s: amoun ts falling due within one year
2022 2021
5 5
Bankloans 15 9,637 9,502
Other taxation and social security 8,895 9,880
Trade creditors 23,195 48,926
Student fees paid in advance 331,786 347,308
Amounts owed to fellow group undertakings 4 4
Deferred income 23,567 59,387
Accruals 62,772 147,025
459,856 622,032
Creditors: amounts falling due after more than one year
2022 2021
Notes 5 5
Bankloans 15 239,277 248,636

Movement Movement in funds
Balance at Incoming Resources Transfers Balance at
1 September resources expended 31August
2021 2022
E E 5 5 5
Freehold Property Endowment Fund 1,004,870 1,004,870
1,004,870 1,004,870

Movement
in funds		 Movement
in funds
Balance at Incoming Resources Transfers Balance at
1September resources expended 31August
2021f f f 2022
f
Scholarship funds 40,906 96,930 (112,784) 25,052
AMRI 47,852 30,917 (50,201) 28,568
Publications fund 2,757 43552 (31,871) 14,438
Windows appeal 5,926 5,926
Organisational
case review		 31,172 (31,172)
International mission leaders 36,932 117,455 (99,955) 54,432
St Philip 6 StJames Development 55,309 100,210 (96,093) 59,426
Capitalised development costs 91,024 96,093 187,117
IT Infastructure
Virtual		 Learning 4,834 (3,365) (1,469)
ITequipment capitilised 4,636 1,469 6,105
Fundraiser -Cromwell Trust 18,600 18,600
Paul Woods research costs 951 - (50) 901
Peer supportfunds 1,221 (75) 1,146
323,520 407,864 (329,473) 401,711

Movement
in Funds
Balance at Tranafem Balance at Trans(era Balance at
1 September
1
2020
f
f		 September
2021
f		 31August
2022f
Property Fund 156,838 24,474 181,312 9,224 190,536
156,838 24,474 181,312 9,224 190,536

26 Cash generated
from		 operations 2022f 2021f
Surplus for the year 281,167 296,843
Adjustments
for:
Investment
income recognised
in statement		 offinancial activities (682) (81)
Depreciation
and impairment
oftangible fixed assets		 9,306 7,446
Movements
in working		 capital:
Decrease
in debtors		 15,041 10,206
(Decrease)/increase
in		 creditors (162,311) 142,167
Cash generated
from		 operations 142,521 456,581
27 Analysis ofchanges in net funds
At 1September Cash flows At 31August
2021f 2022f
Cash at bank and
in hand		 982,589 25,303 1,007,892
Loans falling due within one year (9,502) (135) (9,637)
Loans falling due after more than one year (248,636) 9,359 (239,277)
724,451 34,527 758,978

Movement
in th		 es e funds during the year were as follows:
2022f 2021
Balances brought forward 18,724 22,307
Net movement in the period 12,013 (3,583)
Balance carried forward 30,737 18,724