2020-08-31-accounts - Westminster College Trust, Oxford

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			Page
Reference	and Administrative Details
Trustees'	Report		2to 4
Statement	ofTrustees	Responsibilities
Report of	the Independent Auditors		6to 7
Statement	of Financial	Activities
Statement	of Financial	Position
Statement	of Cash Flows		10
Notes to the Statement		of Cash Flows
Notes to the Financial		Statements	12to 21

TRUSTEE	Westminster	College Oxford Trust Umlted	College Oxford Trust Umlted	College Oxford Trust Umlted	College Oxford Trust Umlted	College Oxford Trust Umlted	College Oxford Trust Umlted	College Oxford Trust Umlted	College Oxford Trust Umlted
CUSTODIAN TRUSTEES	Trustees for	Methodist				Church		Purposes
DIRECTORS OF	Revd Canon	Sir		R	Wailer		(Chairman)		Appointed	01/09/2019
TRUSTEE COMPANY	Dr CJ Marshall
	Dr C Norris
	Revd Canon	Dr		M	Welgngs
	Prof 8J Clack
	Mrs A Bolton
	Mrs C M Lines
	Revd Dr J R	Hustler
PRINCIPAL ADDRESS	c/o 20 Havelock			Road
	Hastings
	East Sussex
	TN34 1BP
REGISTERED CHARITY NUMBER	309672
AUDITORS	Ashdown Hurray			Audeors			Umited
	Statutory Auditors
	20 Havelock Road
	Hasbngs
	East Sussex
	TN34 1BP
SOLICITORS	Pothecary Wltham				Weld
	70 StGeorge's		Bourne
	London
	SW1V 3RD
BANKERS	Central Finance		Board of				the Methodist		Church
	9 Bonhlll Street
	London
	EC2A 4PE
	H6BC
	The Peak
	333Vauxhall	Bridge Road
	Vlctona
	London
	SW1V JEJ

									31.8.20		31.8.19
					Unrestricted	Restricted	Endowment	Total	funds	Total	funds
					fund	funds	fund
				Notes	I	I	I		I		I
INCOME AND ENDOWMENTS
FROM
Charitable activities				3
Grants from Institutions					7,500				7,500
I W t 0	I	lt		2	552007	7841			559 848		539 61~
Total					559,507	7,841			567,348		539,618
EXPENDITURE ON
Raising funds
t 5				4	8475	591			9 066		9 365
					8,475	591			9,066		9,365
Charitable activities				5
Grants to Individuals						3,328			3,328		2,000
Grants to institutions					691,850				691,850		990,789
Other					11650	1791			12 850		26 583
Total					711,975	5,119			717,094	1,028,737
Net gains/(losses) on Investments					3 235				3 235	~1485)
NET
INCOME/(EXPENDITURE)					(149,233)	2,722		(146,511)		(490,604)
Other recognised
gains/(losses)
Gains/(losses) on revaluation fixed assets			of		631012	~4104)	~23860)	603048			Itl)055
Net movement In	funds				481,779	(1,382)	(23,860)	456,537		(389,549)
RECONCILIATION		OF FUNDS
Total funds brought		forward			10,002,052	63,690	245,833	10,311,575		10,701,124
TOTAL FUNDS CARRIED
FORWARD					I~483 831	62 3118	221 973	10768 112		10311575

AT31AUGUST 2	020
									31.8.20		31.8.19
					Unrestricted	Restricted	Endowment	Total	funds	Total	funds
					fund	funds	fund
				Notes	I	I	I
FIXEDASSETS
Tangible assets				10	51,300				51,300		51,300
Investments
Investments Investment property				11 12	3,469,013 11 750 0110	38,193	221,973	3,729,179 ll 750 000		3,829,066 I!000 000
					15,270,313	38,193	221,973	15,530,479		14,880,366
CURRENT ASSETS
Debtors Cash at bank				13	31,340 738406	(5,818) 30933			25,522 769 339		152,489 722 266
					769,746	25,115			794,861		874,755
CREDITORS
Amounts falling due within year			one	14	(1,255,511)	(1,000)		(1,256,511)		(629,100)
NET CURRENT ASSETS/(LIABILITIES)					~485 765)	24 115		~461 650)			245 655
TOTAL ASSETS LESS
CURRENT LIABILITIES					14,784,548	62,308	221,973	15,068,829		15,126,021
ACCRUALS AND	DEFERRED
INCOME				15	(4,300,717)			(4,300,717)		(4,814,446)
NET ASSETS					10483 831	62308	221973	10768 112		10	311575
FUNDS				16
Unrestricted funds								10,483,831		10,002,052
Restricted funds:
Dobson Theology Fund Spelght Undergraduate Postgraduate Bursary		Fund Fund							5,357 22,625 34326		6,736 23,374 33 580
									62,308		63,690
Endowment funds									221 973		245 833
FUNDS								10768112		10311575

FOR THE YEAR ENDED 31	AUGUST 2	020
					31.8.20	31.8.19
				Notes	I	I
Cash flows from operating	activities:
Cash generated from operations					~468 945)	~649 244)
Net cash provided by (used In) operating
a ctlvl bee					~468 945)	~649 244)
Cash flows from Investing	activities:
Purchase offixed asset investments					(297,867)	(3g472g741)
Sale of fixed asset investments					254,037	453,627
Rents received					459,879	457,879
Interest received Dividends received					6,333 ~93636	14,182 ~67 557
Net cash provided by (used	In) investing
activities					~516018	~2479 496)
Change In cash and cash equivalents		In the
repordng period					47,073	(3,128,740)
Cash and cash equivalents the reporting period	at the beginning		of		~722 266	~3851006
Cash and cash equivalents	at the end	ofthe
reporting period					~769339	~722 266

RECONCILIATION ACTIVITIES	OF NE	T INCOME/(E	XPE	NDITURE)	TO NET CASH	FLOW FROM	OPERATING
						31.8.20	31.8.19
						I	I
Net income/(expenditure)		for the reporting		period (as	per the
statement offinancial activities)						(146,511)	(490,604)
Adjustments for:
(Gain)/losses on investments						(3,235)	1,485
Interest received						(6,333)	(14,182)
Dividends received						(93,636)	(67,557)
Rents received						(459,879)	(457,879)
Decrease/(Increase)	in debtors					126,967	(29,568)
Increase in creditors						~113682	~409061
Net cash provided	by (used	in) operating	activities			~468 945)	~649 244)
ANALYSIS OF CHANGES IN		NET FUNDS
					At 1,9.19 I	Cash flow I	At 31.8.20 I
Net cash
Cash at bank					722,266	47,073	769,339
Total					~722 266	~47 073	~769339

							31.8.20	31.8.19
				unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
				E	E	E	E	E
Rents received				459,879			459,879	457,879
Income receivable			from
Investments	in managed
funds Deposit account		interest		86,002 ~6126	7,634 207		93,636 ~6333	67,557 ~14 182
				~552 007	~7841		~559 848	~539 618
INCOME FROM			CHARITABLE ACTIVITIES
							31.8.20	31.8.19
				Activity			E	E
Grants				Grants from Institutions			~7500
Grants received,		included		in the above, are as	follows:
							31.8.20	31.8.19
							E	E
Other grants							~7500

					31.8.20	31.8.19
		unresulaed	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
		E	E	E	E	E
Support	costs	~8475	591		~9066	~9365

				Grant funding
			Direct costs	ofactivities	Totals
				(See note 6)
			E	E	E
Grants Grants	to to	institutions Individuals	39,772	652,078 ~3328	691,850 ~3328
			~39 772	~655 406	~695 178

						31.8.20	31.8.19
						E	E
	Grants to Individuals					3,328	2,000
	Grants to Institutions					~652 078	~952 263
						~655 406	~954 263
7.	SUPPORT	COSTS
						Governance
					Finance	costs	Totals
					E	E	E
	Investment	management		costs	9,066		9,066
	Other resources		expended			~12850	~12 850
					~9066	~12 850	~21 916

Support c	osts	, induded	in the above, are as f	ollows:
						31.8.20	31.8.19
				Investment	Other
				management	r'esources
				costs	expended	Tote I activities	Total activities
				E	E	E	E
Bank charges				9,066		9,066	9,095
Legal and	professional		fees		3,000	3,000	270
Auditors'	remuneration				5,700	5,700	5,100
Auditors'	remuneration		for non audit work		2,550	2,550	1,828
Management		fees			~1600	~1600	~19655
				~9066	~12 850	~21 916	~3948

STAFF COSTS
			31.8.20	31.8.19
			E	E
Stipend - Methodist	Chaplaincy	at Oxford Brookes University	~39 772	~38	526
TANGIBLE FIXED	ASSETS
				Works of	Art
					E
COST
At 1 September 2019and 31August 2020				~51	300
NET BOOK VALUE
At 31August 2020				~51	300
At 31August 2019				~51	300

Analysis of fixed assets in	vestments are as follow	s:-	s:-
	Overseas	UK Equity				Corporate
UNRESTRICTED	Investment	Fund		Gilt		Bond
FUNDS	Fund	Units		Fund		Fund
	E	E		E		E
VALUATION
At 1September 2019	1,227,957	1,365,389			61,931	286,042
Additions In year	82,013		130,030		11,001	51,003
Disposals In year	(56,007)		(61,024)		(34,004)	(76,002)
Net gain/loss on revaluation or disposal	71 197		162340			1936
At 31August 2020	1 329 1st	1	272 055		it 622	262 979

UNRESTRICTED	Property
FUNDS - Continued	investment	Total
	Fund
	E
VALUATION
At 1 September 2019	599,937	3,541,256
Additions In year	23,500	297,547
Disposals In year Net gain/loss on revaluation or disposal	(27,000) (254,037) ~32239)~225 752)
At 31August 2020	565 198	3 469 013

	Spelght	Postgraduate	Dobson
	Undergraduate	Bursary	Theology
ENDOWMENT FUNDS	Fund	Fund	Fund		Total
Investment- Equity Funds	E	E	E		f.
VALUATION
At 1September 2019	118,537	97,856	29,440		245,833
Additions In year
Disposals In year Net gain/loss on revaluation or disposal	~ll 505)~9498)~2857)~23					860)
At 31August 2020	11)7032	88358	26583		221973
	Spelght	Postgraduate	Dobson
	Undergraduate	Bursary	Theology
RESTRICTED FUNDS	Fund	Fund	Fund		Total
Investment - Equity Funds	E	I	E			E
VALUATION
At 1September 2019	15,296	23,895	2,787			41,978
Additions in year	267			52			320
Dlsposals in year Net gain/loss on revaluation or disposal	~)522)~2329)~274)~4204)
At 31August 2020	14,053	21,576	2,565			38,193
Cash less current
liabilities
At 31August 2020	8 572	12 750	2 792			24	115
Total Restricted Funds	22625	34326	5357			62308

FAIR VALUE
At 1 September 2019	11,000,000
Revaluation	750000
At 31August 2020	11750 000
NET BOOK VALUE
At 31August 2020	ll 750 000
At 31August 2019	11000000

13.	DEBTO	RS:AMOUNTS F	ALL	ING DUE WITHIN ONE YEAR
					31.8.20		31.8.19
					E		E
	Amount owed from connected Prepayments			body corporate	~25	522 000	149,181 ~3308
					~25	522	~152489
14.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
					31.8.20		31.8.19
					E		E
	Trade creditors				28,173		54,523
	Deferred	income			70,098		70,098
	Accrued	expenses			~1158	240	~504 479
					~1256	511	~629 100

ACCRUA	LS AND DEFERRED INCOME
				31.8.20	31.8.19
				I	I
Deferred Accrued	Income relating to lease premium: expenses: 2-5 years	2-5	years	151,515 ~705 389	151,515 1 181239
				856 904	1332 754
Deferred	Income relating to the lease premium:		more than 5 years	3443813	3481692
				4300717	4814446

					Net movement
				At 1.9,19 I	In funds I	At 31.8.20 I
Unrestricted	funds
Unrestricted	Funds			10,002,052	481,779	10,483,831
Restricted funds
Dobson Theology		Fund		6,736	(1,379)	5,357
Speight Undergraduate			Fund	23,374	(749)	22,625
Postgraduate	Bursary		Fund	33 580	746	34 326
				63,690	(1,382)	62,308
Endowment	funds
Endowment	funds			245,833	(23,860)	221,973
TOTALFUN	DS			10311575	456 537	10769 222

Net movemen	t In	funds	, Induded in the	above are as follows:
				Incoming	Resources	Gains and	Movement in
				I'esour'ces I	expended I	losses I	funds I
Unrestricted	funds
Unrestricted	Funds			559,507	(711,975)	634,247	481,779
Restricted funds
Dobson Theology		Fund		889	(1,994)	(274)	(1,379)
Spelght Undergraduate Postgraduate Bursary			Fund Fund	3,640 ~3312	(2,878) ~247)	(1,511) ~2319)	(749) 746
				7,841	(5,119)	(4,104)	(1,382)
Endowment	funds
Endowment	funds					(23,860)	(23,860)
TOTAL FUNDS				~567348	~717094)	~606 283	~456 537

Comparatlves for m	oveme	nt in fu	nds
							Net movement
						At 1.9.18	In funds	At 31.8.19
						E	E	E
Unrestricted Funds
Unrestricted Funds						10,392,085	(390,033)	10,002,052
Restricted Funds
Dobson Theology Fund Spelght Undergraduate Postgraduate Bursary	Fund Fund					5,855 22,417 ~31 116	881 957 ~2464	6,736 23,374 ~33 580
						59,388	4,302	63,690
Endowmentfunds
Endowment funds						249,651	(3,818)	245,833
TOTAL FUNDS						10701 124	~3B9549)	10 311575
Comparative net movement		in funds,	included	In the above	are as follows:
				incoming		Resources	Gains and	Movement in
				resouf'ces		expended	losses	funds
				E		E	E	E
Unrestricted funds
Unrestricted Funds				530,893		(1,024,940)	104,014	(390,033)
Restricted funds
Dobson Theology Fund Speight Undergraduate Fund Postgraduate Bursary Fund				985 4,055 ~3685		(65) (2,882) ~850)	(39) (216) ~371)	881 957 ~2464
				8,725		(3,797)	(626)	4,302
Endowment funds
Endowmentfunds							(3,818)	(3,818)
TOTAL FUNDS				~539	618	(1~028737)	~99 570	~389549)

					Net movement
				At 1.9.18	in funds	At 31.8.20
				E	E	E
Unrestrfcted	funds
Unrestricted	Funds			10,392,085	91,746	10,483,831
Restricted funds
Dobson Theology		Fund		5,855	(498)	5,357
Speight Undergraduate			Fund	22,417	208	22,625
Postgraduate	Bursary		Fund	31 116	3 219	34326
				59,388	2,920	62,308
Endowment Endowment	funds			249661	~27 6782	121973
TOTAL FUNDS				197111124	66918	lll 768 112

			incoming	Resources	Gains and	Movement In
			resour'ces	expended	losses	funds
			E	E	E	E
Unrestricted	funds
Unrestricted	Funds		1,090,400	(1,736,915)	738,261	91,746
Restricted funds
Dobson Theology		Fund	1,874	(2,059)	(313)	(498)
Speight Undergraduate Fund Postgraduate Bursary Fund			7,695 ~6997	(5,760) ~1097)	(1,727) ~2690)	208 ~3210
			16,566	(8,916)	(4,730)	2,920
Endowment Endowment	funds funds				~27678)	~27 678)
TOTAL FUNDS			~1106966	~1745831)	~705 853	~66 988

The following grants were	The following grants were	paid to Individuals	during	the year:-	the year:-	the year:-
RESTRICTED FUNDS								31.8.20	31.8.19
								E	E
Spelght Undergraduate Dobson Theology Fund	Fund							2,000 ~1328	2,000
								~3328	~2000
The following grants were		issued to institutions	during		the year:-
UNRESTRICTED FUNDS								31.8.20	31.8.19
								E	E
Oxford Brookes University		- Oxford Centre for	Methodism			and Church	History		(9,875)
Methodist Chaplaincy at	Oxford Brookes University							39,772	38,526
Methodist Academies and		Schools Trust							900,000
Methodist Chaplaincy at	Oxford Brookes University			- Accommodation				(11,917)
Education Support									62,138
Wesley Memorial Grant								663,451
Art Grant								544
								~691850	~990789

following	periods	are:
			31.8.20	31.8.19
			E	E
Deferred	income:	less than 1 year	420,000	420,000
Deferred	income:	2-5 years	116801000	116801000
Deferred	income:	more than 5 years	38181172	38801172
			40281172	40701172