2021-08-31-accounts - All Nations Christian College Limited

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allnations Iraining lor mission Year ended 2021 REPORT AND FINANCIAL STATEMENTS

Chairman's statement		3-4
Report ofthe Board of Management		5-20
Report ofthe Independent	Auditors	21-23
Consolidated Statement	of Financial Activities	24
Balance Sheets
Consolidated Statement	of Cash Flows	26
Notes to the Financial Statements		27-40

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		BALANCE S	HEETS	AS AT 31ST	AUGUST 202	1
				Group 2021	Group 2020	Company 2021	Company 2020
			Note
Fixed assets
Intangible assets			11
Tangible assets			12	1,215,989	921,568	1,215,989	921,568
Investments			13	141258	111976	141 358	112076
Total fixed assets				1,357,247	1,033,544	1,357,347	1,033,644
Current assets
Stocks				5,553	8,312	5,553	8,312
Students' fees receivable				33,586	37,922	33,586	37,922
Prepayments and other debtors			14	717,972	435,822	693,351	429,053
Amount due from subsidiary						35,202	20,723
Cash and cash equivalents				950494	870294	934345	845348
Total current assets				1,707,605	1,352,350	1,702,037	1,341,358
Liabilities
Creditors: Amounts	falling due within		one year
Loans				2,200	2,200	2,200	2,200
Sundry creditors and		accruals	15	154,574	131,967	149,106	126,946
Fees received in advance				95830	57226	95830	51355
Total current liabilities				252,604	191,393	247,136	180,501
Net current assets				1 455 001	1 160957	1 454 901	1 160857
Net assets
Capital Funds
Endowment (including		revaluation	13	141,258	111,976	141,258	111,976
reserve of836,790,	2020:E7,508)		17
Income Funds
Unrestricted
General				2,137,494	1,523,172	2,137,494	1,523,172
Designated			19	412 695	412695	412695	412 695
Total Unrestricted				2,550,189	1,935,867	2,550,189	1,935,867
Restricted			18	120801	146658	120801	146658
Total Funds

		Note	2021	2020
				K
Cash flows from operating activities:
Net (expenditure)/income as per SOFA			617,747	118,821
Adjustments for:
Depreciation			107,190	105,936
Loss/(surplus) on sale of property,	plant &equipment			(815)
(Gain)/loss on investments			(29,282)	26,764
Investment income			(5,903)	(10,341)
(Increase)/decrease in trade and other receivables			(627,814)	(159,375)
Decrease/(increase) in inventories			2,759	2,415
Increase/(decrease) in trade and other payables Cash generated from operations			61211 12'i~6	~72 669 ~6
Net cash flows from operating activities			17~9QG
Cash flows from investing activities:
Purchase of property, plant and equipment		12	(51,611)	(31,879)
(Purchase)/disposal of investments
Proceeds ofdisposal offixed assets				1,081
Interest received			5903	10341
Net cash flows from investing activities
Net increase/(decrease) in cash	8 cash equivalents:		80,200	(9,721)
Cash in hand and at bank at start Cash in hand and at bank at end	ofyear ofyear		870294 C~g	880015
Net Debt Reconciliation		At 1"	Cash flows	At 31s'
		September		August
		2020		2021
Cash and cash equivalents		870,294	80,200	950,494
Interest free loans from supporters Total		~2200 K~4		~2200 l~

FOR THE YE	AR ENDED 31S	TAUGUST 20	21
INCOME FROM CHARITABLE	Unrestricted	Restricted	Total	Total
ACTIVITES &OTHER INCOME	Funds	Funds	2021	2020
Student fee income taught awards	540,403		540,403	456,880
Course fee income non-credit	212,020		212,020	133,618
bearing courses
Subcontracted in course fees	43,963		43,963
Student accommodation &meals	191,218		191,218	191,945
Sundry income	38,187		38,187	14,877
Furlough income	9,888		9,888	10,302
Rental income	125,488		125,488	96,664
Partnerships 8 Consultancy	22,908		22,908
Conference income	24 398		24 398	19836
Total

FUNDRAISING	AND MARKETING	AND MARKETING	AND MARKETING	Unrestricted	Restricted	Restricted	Total	Total
				Funds		funds	2021	2020f
Salary costs				45,155			45,155	29,286
Advertising				2,341			2,34'1	1,648
Promotional activity		8 Publications		11,079			11,079	16,287
Appeals				395			395	8,428
Database 8 Website		costs		4 158		2 952	7110	5792
Total				63128		~2952	66 080	81441
EXPENDITURE ON				Unrestricted	Restricted		Total	Total
CHARITABLE	ACTIVITES			Funds	Funds		2021	2020
Tuition				467,889		6,918	474,807	352,627
Catering				165,764			165,764	157,358
Academic Administration				148,710			148,710	141,012
Bursary grants					45,334		45,334	57,143
Conferences				9,684			9,684	21,264
Student Benevolent		Fund grants						258
Support costs	(notes 6 and		7)	637906	72 552		710458	658711
Total
BREAKDOWN	OF COSTS		OF CHARITABLE ACTIVITY
Support costs	have	been allocated		as follows:
		Activities		Grant	Support		Total 2021	Total 2020
		undertaken		funding	costs
		directly		activities
Student costs		789,281			697,552		1,486,833	1,300,821
Bursaries granted				45,334			45,334	57,143
Conferences Total		9684 7$Q55		4~4	12	906	22590	30409

	Total 2021				Fundraising	Student	Conferences	Conferences		Basis of
					&Marketing	costs				Allocation
	Premises					188,097		4,557		Time/Usage/Area
	Housekeeping					40,370				Time/Usage
	Finance					74,150		1,968		Time
	IT				2,952	65,220		1,680		Usage
	Facilities					41,677		1,069		Time
	HR					11,713				Usage
	Management				2,841	52,041				Time
	Administration					107,075		952		Usage
	Depreciation	8 amortisation				104,511		2,680		Usage
	Governance Total					12698 6K~2		~gg		Time/Usage
	PRIOR YEAR		FIGURES
	Total 2020				Fundraising	Student	Conferences			Basis of
					&Ilarketing	costs				Allocation
	Premises					158,858		3,710		Time/Usage/Area
	Housekeeping					43,514				Time/Usage
	Finance					62,316				Time
	IT					46,896				Usage
	Facilities					35,551		911		Time
	HR					23,355				Usage
	Management				2,833	53,158				Time
	Administration					109,161		1,004		Usage
	Depreciation	&amortisation				104,074		1,862		Usage
	Governance Total					12683 6~6$				Time/Usage
8	NET INCOME		FOR THE		YEAR		2021	2020
	This is stated	after charging:
	Auditors' remuneration			—audit			7,500	7,410
					other services		234		234
	Operating lease charges				- photocopiers		3,031	3,524
	Depreciation	oftangible		fixed assets		107,190		105,936

Andy Dipper, Princi	pal and CE	O, receive	d the following re	muneration:
				2021	2020
Basic salary before	salary sacrifice			47,940	47,940
Employer pension	contribution			7,830	6,232
Salary sacrifice arrangements		- pension	contributions	(3,995)	(2,397)
Non-taxable benefits - provision		ofaccommodation		16200	16200
Total package				~97$	SZ,QZ5

TANGIBLE FIXEDASSE	TS (GROUP)
	Freehold		Furniture		Heavy	Motor
	Properties		Fittings &		Plant	Vehicles	Total
			Equipment
Cost
At 1"September 2020	1,401,695		831,399		235,681	11,521	2,480,296
Additions Disposals At 31"August 2021	350,000 1 751 695		51,611 ~28 303 854 707		235681	11 521	401,611 ~28303 2 853 604
Depreciation At 1"September 2020	907,597		592,474		47,136	11,521	1,558,728
Charge for the year Eliminated on disposals	28,598		55,024 ~28 303		23,568		107,190 ~28303
At 31"August 2021	936 195		619195		70704	11521	1 637615
Net book value
At31"August 2020 At 31"August 2021	494 098 815500		238925 235512		188545 164977		921 568 1 215 989
TANGIBLE FIXEDASSETS (COMPANY)
	Freehold		Furniture		Heavy	Motor
	Properties		Fittings &		Plant	Vehicles	Total
			Equipment
Cost
At 1"September 2020	1,401,695		803,023		235,681	11,521	2,451,920
Additions	350,000		51,611		-	-	401,611
Disposals At 31"August 2021	1 751 695		~28 303 826 331		235681	11521	~28303 2 825 228
Depreciation At 1"September 2020	907,597		564,098		47,136	11,521	1,530,352
Charge for the year Eliminated on disposals At31"August 2021	28,598 936195		55,024 ~28 303 590819		23,568 70704	11521	107,190 ~28303 1 609239
Net book value
At31"August 2020 At31"August 2021	494 098 815500		238925 235512		188545 164977		921 568 1 215989
The College has one mixed	use investment	property. However, as the				fair value ofthe property		would
be very difficult to measure	reliably, being one listed building				amongst	a number	ofother buildings		on
an estate which operates	under a restrictive		covenant,	the whole property has			been recognised		at
cost within tangible fixed assets.

FIXEDASSE	T INVESTME	P AND COMPAN	Y)
		Group		Company
		2021	2020	2021	2020
Listed investments		141,258	111,976	141,258	111,976
Investment in Total	Trading Subsidiary			100 ail	100 iiRJ&i
				2021	2020
Endowment	Funds
Listed UK investments
Market value	at 1"September			111,976	138,740
Additions
Net unrealised gain/(loss) on investment Market value at31"August Historic cost as at31"August		assets		29262 141~2 ~14~4	~26 764 ~111 25

Name ofcompany	Description	Proportion	Nature of	Aggregate	Results
	ofshares	ofshares	business	reserves	for the
	held	held			year
All Nations Trading	Shares ofE1	100	Conference	100
Limited	each		services

Trading Company	summary	profit and	loss	account	2021	2020
Turnover					59,064	48,432
Cost ofsales and	administration	expenses			(40,727)	(41,064)
Depreciation
Profit					18,337	7,368
Amount gift aided	to parent company				~18337	~7368
Net profit
The assets and liabilities ofthe		subsidiary	were:		2021	2020
Current assets					40,770	31,715
Creditors: Amounts	falling due	within one	year		f440670	~31 615
Total Net assets
Aggregate share capital and reserves
All the above are included in the consolidated				accounts of the College.

CREDIT	OR	S: Amo	unts falling due	within one year
				Group		Company
				2021	2020"	2021	2020
Creditors				75,518	46,984	75,513	46,979
Accruals	8	deferred	income	79056	84983	73593	79967
Total				15~74		141~$	1214545

ANALYSIS OF NET	ASSETS BETWEEN	FUNDS
Group	Fixed assets	Investments	Net current Assets	Total at 31"August 2021
		K
Endowment funds		141,258		141,258
Restricted funds			120,801	120,801
Unrestricted funds
General fund	1,215,989		921,505	2,137,494
Seed Funding			18,125	18,125
Strategic Fund Total	~MS		394570	394 570
PRIORYEAR
Group	Fixed assets	Investments	Net current Assets	Total at 31"August 2020
Endowment funds		111,976		111,976
Restricted funds			146,658	146,658
Unrestricted funds
General fund	921,568		601,604	1,523,172
Seed Funding			18,125	18,125
Strategic Fund			394570	394570
Total
Company	Fixed assets	Investments	Net current Assets	Total at 31"August 2021
Endowment funds		141,258		141,258
Restricted funds			120,801	120,801
Unrestricted funds
General fund	1,215,989	100	921,405	2,137,494
Seed Funding			18,125	18,125
Strategic Fund			394570	394570
Total
PRIOR YEAR
Company	Fixed assets	Investments	Net current Assets	Total at 31"August 2020
Endowment funds		111,976		111,976
Restricted funds			146,658	146,658
Unrestricted funds
General fund	921,568	100	601,504	1,523,172
Seed Funding			18,125	18,125
Strategic Fund			394570	394570
Total