2021-08-31-accounts - Westminster College Trust, Oxford

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	Westminster	College Oxford Trust	College Oxford Trust	College Oxford Trust
TRUSTEE	Umlted
CUSl'0DIAN
TRUSTEES	Trustees for	Methodist	Church	Purposes
DIRECTORS OF	Revd Canon	Sir RWailer (Chairman)
TRUSTEE COMPANY	Dr C3 Marshall —Resigned 31/08/2021
	Dr C Nants
	Revd Canon	Dr M Welllngs —Resigned 31/08/2021
	Professor 83 Clack
	Mrs A Bolton
	Mrs C M Uncs
	Revd Dr 3 R	Hustler
	Sheriff A Gowman —Appointed			01/09/2021
	Professor D	Matthews	—Appointed		01/09/2021
PRINCIPAL ADDRESS	c/o 20 Havelock Road
	Hastings
	East Sussex
	TNT 1BP
REGISTERED CHARITY NUMBER	309672
AUDITORS	Ashdown Hurray Auditors Umlted
	Statutory Auditors
	20 Havelock	Road
	Hastings
	East Sussex
	TN34 1BP

FOR THE YEAR EN	DED 31AUG	UST 2021
							31.8.21	31.8.20
		Unrestricted		Restricted		Endowment	Total	Total
		Notes	fund 6	funds 5		fund 5	funds 6	funds I
INCOME AND ENDOWMENTS
FROM
Charitable activities		3
Grants from institutions								7,500
I~ 0 Ill		2	537820	6	991		544 811	559848
Total			537,820	6,991			544,811	567,348
EXPENDITURE ON
Raising funds I~ t 5	t~	4	8411				8947	9066
			8,411		536		8,947	9,066
Charitable activities
Grants to individuals				4,028			4,028	3,328
Grants to Institutions			332,941	10,000			342,941	691,850
			9 178				9178	12850
Total			350,530	14,564			365,094	717,094
Net gains on investments			8 033				8033	3235
NET
INCOME/(EXPENDITURE)			195,323	(7,573)			187,750	(146,511)
Other recognised
gains/(losses)
Gains on revaluation	offixed
assets			705 149	10	274	59 652	775 075	603 048
Net movement In	funds		900,472	2,701		59,652	962,825	456+37
RECONCILIATION	OF FUNDS
Total funds brought forward		10	4837831	621308		2217973	107768112	1013114575
TOTAL FUNDS CARRIED
FORWARD		~tl	64 303	65	009	281 625	11730937	10768 112

31AUGUST 2021
						31.8.21	31.8.20
			Unrestricted	Restricted	Endowment	Total	Total
			fund	funds	fund	funds	funds
		Notes	E	E	E	E	E
FIXEDASSETS
Tangible assets		10	51300			51@00	51@00
Investments
Investments		11	4,155,172	48419	2817625	474857316	377297179
Investment property		12	11750000			1175~000	11750000
			15,956,472	48,519	281,625	16,286,616	15,530,479
CURRENT ASSETS
Debtors Cash at bank		13	121,724 172508	(20,846) ~37 36		100,878 209 844	25,522 769339
			294,232	16,490		310,722	794,861
CREDITORS
Amounts falling due within one
year		14	(595,978)			(595,978)	(1,256,511)
NET CURRENT ASSETS		~302746)		16490		~285 256)	~482 650
TOTAL ASSETS LESS
CURRENT LIABILITIES			15,654,726	65,009	281,625	16,001,360	15,068,829
ACCRUALS AND DEFERRED
INCOME		15	(492707423)			(4,270,423)	(4,300,717)
NET ASSETS		~11 94303		65009	281 625	11 730 937	10768 112
FUNDS		16
Unrestricted funds						11P847303	10,483,831
Restricted funds:
Dobson Theology Fund						4,750	5,357
Spelght Undergraduate Postgraduate Bursary	Fund Fund					27,407 32852	22,625 ~34 26
						65009	62308
Endowment funds						281 625	221973
TOTAL FUNDS						11730 937	10768 112

WESTMINSTER COLLEGE OXFORD TR	UST
STATEMENT OF CASH FLOWS
FORTHE YEAR ENDED 31AUGUST 2021
		31.8.21	31.8.20
	Notes	6	6
Cash flows from operadng activities Cash generated from operations		~1131277)	468945
Net cash used In operating activities		~1131277)	~468 945)
Cash flows from invesUng acUYIUes
Purchase offixed asset investments		(253,065)	(297,867)
Sale of fixed asset Investments		280,036	254,037
Rents received		458,879	459,879
Interest received Dividends received		2,355 ~83 577	6,333 ~93 636
Net cash provided by Investing activities		~571782	~516018
Change in cash and cash equivalents the reporting period	In	(559,495)	47,073
Cash and cash equivalents atthe beginning ofthe reporting period		~769 39	~722 266
Cash and cash equivalents atthe end the reporting period	of	~209 844	~769339

RECONCILIATION ACTIVITIES	OF NET	INCOME/(EXPEND	ITURE) TO NET CASH FLO	W FROM OPER	ATING
				31.8.21 I	31.8.20 I
Net income/(expenditure)		for the reporting	period (as per the
Statement ofFinancial Activities)				187,750	(146,511)
Adjustments for:
Gain on investments				(8,033)	(3,235)
Interest received				(2355)	(6.333)
Dividends received				(83,577)	(93,636)
Rents received				(458,879)	(459,879)
(Inoease)/decrease (Decrease)/Increase	in debtors in creditors			(75356) ~690827	126,967 ~113682
Net cash used in	operations			~1131277)	~468 945)
ANALYSIS OF CHANGES IN		NET FUNDS
			At 1.9.20 6	Cash flow I	At' 31.8.21 I
Net cash
Cash at bank			~769339	~559495	~209 844
			~769339	~559495	~209844
Total			~769 339	~559495	~209844

INVESTMENT AND RENTA	L INCOME
				31.8.21	31.8.20
	Unresbicted	Restricted	Endowment	Total	Total
	fundsI	fundsI	fundsI	funds I	funds I
Rents received	458,879			458,879	459,879
Income receivable from
investments in managed
funds Deposit account interest	76,646 ~295	6,931 60		83,577 ~2355	93,636 ~6333
	~537 820	~6991		~544 811	~559 848

WESTM	INSTER COLLEGE OXFORD TRUST	INSTER COLLEGE OXFORD TRUST	INSTER COLLEGE OXFORD TRUST
NOTES	TO THE FINANCIAL STATEMENTS			-continued
FOR THE YEAR ENDED 31AUGUST			2021
3.	INCOME FROM CHARITABLE		A TIVITIES
							31.8.21	31.8.20
			Activity				E	E
	Grants		Grants	from institutions				~7500
	Grants received, induded	In the	above,	are as follows:
							31.8.21	31.8.20
							E	E
								~7500
4.	INVESTMENT MANAGEMENT		COSTS
							31.8.21	31.8.20
			Unrestricted		Restricted	Endowment	Total	Total
			funds		funds	funds	funds	funds
				E	E	E	E	E
	Support costs		~8411		536		~8947	~9066
	CHARITABLE ACTIVITIES COSTS
								Grant
								funding of
								activities
								(see note
								6)
								E
	Grants to Individuals							4,028
	Grants to Institutions							~342941
								~346 969

	GRANTS	PAYABLE
					31.8.21	31.8.20
					E	E
	Grants to individuals				4,028	3,328
	Grants to Institutions				~342941	~652 078
					~346 969	~655 406
7.	SUPPORT	COSTS
					Governance
				Finance	costs	Totals
				E	E	E
	Investment management Other resources expended		costs	8,947	~9178	8,947 ~9178
				~8947	~9178	~18 125

Support c	osts	, included	in the above, are as fo	llows:
						31.8.21	31.8.20
				Investment	Other
				management	resources	Total	Total
				costs	expended	activities	activities
				E	E	E	E
Bank charges				8,947		8,947	9,066
Auditors'	remuneration				5,700	5,700	5,700
Auditors'	remuneration		for non audit work		1,440	1,440	2,550
Management		fees			1,438	1,438	1,600
Legal and	professional		fees		600	600	~3000
				~8947	~9178	~18 125	~21 916

	STAFFCOSTS
				31.8.21	31.8.2
					0
					E
	Stipend - Methodist	Chaplaincy	at Oxford Brookes University		~39 772
10.	TANGIBLE FIXED	ASSETS
					Works of
					Art
					E
	COST
	At 1 September 2020 and 31August 2021				~51 300
	NET BOOK VALUE
	At 31August 2021				~51 300
	At 31August 2020				~51 300

Analysis offixed assets inve	stments are	as fol	hws:-
	Overseas
UNRESTRICTED	Investment													Corporate	Bond
FUNDS	Fund		UK Equity	Fund			Units			Gilt	Fund			Fund
	E		E								E			E
VALUATION
At 1September 2020	1,329,160				1,272,055						39,622			262,979
Additions in year	39,006						32,002				44,003			65,002
Dlsposals In year	(199,024)					(81,012)
Net gain/loss on revaluation or disposal	343	660				338		848			17112		~38392
At 31August 2021	1 512	802			1	561		893			81	923		324		142
UNRESTRICTED	Property
FUNDS - Continued	Investment	Fund	Total
			E
VALUATION
At 1September 2020	565,198		3,469,014
Additions in year	73,000		253,013
Dlsposals in year			(280,036)
Net gain/loss on
revaluation or disposal	36 214		713	181
At 31August 2021	674412		4 155	172
			Spelght								Dobson
		Undergraduate					Postgraduate				Theology
ENDOWMENT FUNDS			Fund				Bursary		F'und		Fund			Total
Investment - Equity Funds			E					6			E			E
VALUATION
At 1 September 2020			107,032					88358			26,583			221,973
Additions in year
Dlsposals In year
Net gain/loss on revaluation or disposal			28	763				23 746				7 143		59	652
At 31August 2021			135	795				112		1114	33 726			281	625
			Spelght								Dobson
			Undergraduate					Postgraduate			Theology
RESTRICTED FUNDS			Fund					Bursary		Fund	Fund			Total
Investment - Equity Funds			E						E			6			E
VALUATION
At 1 September 2020			14,053							21,576		2,564				38,193
Additions in year						26								26		52
Dlsposals In year
Net gain/loss on
revaluation or disposal				3	782					5798			694			10274
At 31August 2021			177861							277374		37284				487519
Cash less currentliabilities At 31August 2021		~946								5478		1	466			164911
Total Restricted Funds			27407							32852		4750				65009

DEBTO	RS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
			31.8.21	31.8.20
			E	E
Amount	owed from connected	body corporate	100,878	522
Prepayments				~25 000
			~100 878	~25 522
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.8.21	31.8.20
			E	E
Trade creditors			28,372	28,173
Deferred	Income		70,098	70,098
Accrued	expenses		~497 508	~1158240
			~595978	~1256511

ACCRUALS AND	DE	FE	RRED I	NCOME
									31.8.21	31.8.20
										E
Deferred income relating to lease Accrued expenses: 2-5 years				premium:	2-5 years				151,515 712975	151,515 ~705 89
									184490	856904
Deferred income relating			to the lease premium:			more	than 5years		3405933	3 443 813
									4 270 423	4 300 717
MOVEMENT IN FUNDS
									Net
									movement	At
								At 1.9.20	in funds	31.8.21
								E	E	E
Unrestricted funds
Unrestricted Funds								10,483,831	900,472	11,384,303
Restricted funds
Dobson Theology	Fund							5,357	(607)	4,750
Speight Undergraduate Postgraduate Bursary		Fund Fund						22,625 34326	4,782 ~24747	27,407 32852
								62,308	2,701	65,009
Endowment funds
Endowment funds
								2217973	59652	2817625
TOTAL FUNDS								10768 112	962 825	11730 937
Net movement in funds,			included	in the above are as			follows:
						incoming		Resources	Gains and	Movement
						resources		expended	losses	In funds
							E	E	E	E
Unrestricted funds
Unrestricted Funds						537,820		(350,530)	713,182	900,472
Restricted funds
Dobson Theology	Fund						785	(2,086)	694	(607)
Spelght Undergraduate Postgraduate Bursary		Fund Fund				3,253 ~2953		(2,253) ~10225)	3,782 ~5798	4,782 ~1474)
							6,991	(14,564)	10,274	2,701
Endowmentfunds
Endowment funds
									59,652	59,652
TOTAL FUNDS						~544 811		~365094)	~783 108	~962 825

					Net
					movement	At
				At 1.9.19	in funds	31.8.20
				E	E	E
Unrestricted	funds
Unrestricted	Funds			10,002,052	481,779	10,483,831
Restricted funds
Dobson Theology		Fund		6,736	(1,379)	5,357
Spelght Undergraduate			Fund	23,374	(749)	22,625
Postgraduate	Bursary Fund			33580	746	34 326
				637690	(14382)	62,308
Endowment	funds
Endowment	funds
				245,833	(23,860)	221,973
TOTAL FUNDS				~20 11575	456537	10768112

Comparative	net m	ove	ment in funds, in	duded in the above are a	s follows:-
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	ln funds
				E	E	E	E
Unrestricted	funds
Unrestricted	Funds			559,507	(711,975)	634,247	481,779
Restricted funds
Dobson Theology		Fund		889	(1,994)	(274)	(1,379)
Speight Undergraduate Postgraduate Bursary			Fund Fund	3,640 ~312	(2,878) ~247)	(1,511) ~2319)	(7'l9) 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

A current ye as follows:	ar 12	r 12 months combined n	et movement in f	unds, Included i	n the above ar
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		E	E	E	E
Unrestricted	funds
Unrestricted	Funds	17097327	(17062505)	17347429	1+82,251
Restricted funds
Dobson Theology Fund Speight Undergraduate Fund Postgraduate Bursary Fund		1,674 6,893 ~6265	(4,080) (5,131) ~10472)	420 2,271 ~3479	(1,986) 4,033 ~728)
		14,832	(19,683)	6,170	1319
Endowment	funds
Endowment	funds
				35,792	35,792
TOTAL FUNDS		1~112159	(1~082188)	1~389 391	1~419 362

The following grants we	re paid to Individuals d	uring the y	ear:-
RESTRICTED FUNDS					31.8.21	31.8.20
					E	E
Spelght Undergraduate Dobson Theology Fund	Fund				2,000 2028	2,000 ~1328
					4028	3 328
The following grants were Issued to Institutions		during the yean-
UNRESTRICTED FUNDS					31.8.21	31.8.20
					E	E
Oxford Brookes University - Oxford Centre for		Methodism	and Church	History	307,941
Methodist Chaplaincy at	Oxford Brookes University				25,000	39,772
Methodist Chaplaincy at	Oxford Brookes University - Accommodation					(11,917)
Wesley Memorial Grant						663,451
Art Grant						544
					332,941	691,850
RESTRICTED FUNDS
Postgraduate Bursary Fund: Oxford Brookes University - Academic Staff					10,000
Sabbatlcals
					~10000
					~342 941	~990789

The future minimum	The future minimum	operating lease for	each of the
following	periods are:
		31.8.21 I	31.8.20 I
less than	1year	420,000	420,000
Within 2-5 years		1,680,000	1,680,000
More than	5years	37,761,172	38,181,172
		39881172	98281172