##
##
||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|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|mon|ths
and prior yea|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|lease|payments|receivable|under|this|non-cancellable|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|