||||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|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|