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2023-06-30-accounts

Page
Governors' Annual Report
Auditors' Report
Statement ofFinancial Activities
Balance Sheet 10
Notes to the Accounts

Endowment Restricted Unrestricted Total Total
Note Funds Funds Funds Funds Funds
2023 2023 2023 2023 2022
f
Incoming Resources
Voluntary Income
Donations 20 20 20
Other Incotne
Other income
Investment
Income
Stocks and Shares 9,423 131,099 140,522 129,301
Bank Interest 1 611 1,611 139
Total Incoming Resources 9423 132730 142 153 129460
Resources Expended
Charitable
Acttvttt'es
Individuals 9,423 13,868 23,291 13,153
Institutions 92,131 92,131 61,935
Other 10,572 10,572 4,814
Staffand Support Costs 11,252 11,252 10,551
Depreciation 1,099 1,099 1,099
Governance
Costs
Staffand Support Costs 18233 18233 16460
Total Resources Expended 9,423 147 155 156578 108,012
Net Incoming/(Outgoing) Resources ( 14,425) ( 14,425) 21,448
Other Recognised Gains and Losses
Gains and losses on investments:
Untealised
Investments 9 8973 - 125415 134388 41,596
Net Movement
in Funds		 ( 8,973) (139,840) (148,813) ( 20,148)
Fund balances brought forward 166607 5002 2 773 193 2944 802 2964950
Fund balances carried forward 157,634 5,002 2,633/53 2,795989 2,944,802

2023 2022
Note
Fixed Assets
Tangible Assets 28,657 29,756
Stocks and Shares 2,661,871 2,796,259
Antique
Furniture
2,690,528 2,826,015
Current Assets
Debtors 201 40
Cash at bank and in hand 109,220 122,407
109,421 122,447
Creditors: Amounts falling due within one year
Accrued Expenses 3,960 3,660
Net Current Assets 105461 118787
Net Assets 2,795,989 2,944,802
Funds
Endowments 157,634 166,607
Restricted Funds 5,002 5,002
Unrestricted
Funds
General 2,457,961 2,601,767
Designated 175392 171426
2,633 353 2 773 193
2,795,9$9 2,944,$02
ON BEHALF OF THE GOVERNORS
4J
Revd W.F.Bowman Re Dr J .Soyars
Convener Ch eshunt irector

Holding Investment Investment Cost Market Income
Value 2023 2022
No f, f
Endowment fund
11,218 M &G Charifund Units 38,729 157,634 9,423 8,638
38,729 157,634 9,423 8,638
Unrestricted
Funds
General
120,967 M&G Charifund Units 769,062 1,699,818 101,612 93,030
104,375 Temple BarInvestment Trust PLC 11,600 231,191 9,759 8,246
161,232 Charities Property Fund 156,479 201,330 8,423 8,244
65,923 COIF Charities Ethical Fund 76,033 186,569 5,676 5,577
9,472 M &GCharibond units 10336 9936 293 323
1,023,510 2,328,844 125,763 115,420
Designated
61,974 COIF Charities Ethical Fund 98648 175393 5336 5243
1,122,158 2,504,237 131,099 120,663
Total all Funds 1,160,887 2,661,871 140,522 129,301
Summary ofChanges During Year
At 1 July 2022 1,160,887 2,796,259
Additions
Increase on revaluation
1,160,887 2,796,259
Disposals
Decrease in valuation 134388
At 30June 2023 1,160,887 2,661,871

For the Year Ended 30June 2023
3. Grants and Other Expenditure Endowment Restricted Unrestricted Total Total
Funds Funds Funds Funds Funds
2023 2023 2023 2023 2022
Support for Individuals
Non URC - Columbia Exchange
In-Service Training ofMinisters 6,520 13,868 20,388 8,603
Cambridge
Theological Federation
Discretionary
Grants		 116
BookGrants 221 221 163
Cheshunt
Educational
Fund		 2,682 2,682 4,271
Cheshunt
Student Bursaries
9,423 13,$6823,291 13,153
Support for Institutions
Stipend for Director ofStudies 36,699 36,699 35,145
Courses, Travel and Book-Grant 9,560 9,560
Pension Contributions 5,967 5,967 6,387
Upkeep ofCollege House 1 159 1 159 4437
Total Director ofStudies 53,385 53,385 45,969
Less 10%Charged to Support Costs 5 338 5338 4596
Total to Westminster
College		 48,047 48,047 41,373
Grant to Westminster
College		 21,000 21,000
Grant to COH Connexion 23 084 23 084 20 562
92,131 92,131 61935
Other
RCL Support
Maintain Historical Archives 10,572 10,572 4814
10572 10572 4,$14

4. Staff and Support Costs Charitable Governance Total Total
Activity
2023 2023 2023 2022
Director's Costs as note 4 above (10%) 2,669 2,669 5,338 4,596
Westminster College Administration Charges 8,583 8,583 17,166 16,506
Audit and Accountancy Fees 3,960 3,960 3,660
Insurance ofCollege Contents 1,891 1,891 1,283
Governors'
Meetings		 467 467 730
Miscellaneous 633 633 206
Bank Charges 30 30 30
11 52 18 33 29485 27011

2023 2022
f.2,100 K1,950

Charitable Charitable activities activities Governance All
Purposes
Freehold Office Furniture Total Furniture Total
Land k Equipment (50Ão) Charitable (5&0)
Buildings Activities
f
Cost
At 1 July 2022 54,954 1,340 197 56,491 197 56,688
Additions
Disposals
At 30June 2023 54954 1,340 197 56,491 197 56,688
Depreciation
At 1 July 2022 25,198 1,340 197 26,735 197 26,932
Charge for year 1,099 1,099 1,099
Eliminated
on disposal
At 30June 2023 26,297 1,340 197 27,834 197 28,031
Net BookValue
At 30June 2023 28,657 28,657 28,657
At 30June 2022 29,756 29,756 29,756

For the Yea r Ended 30J une 2023
9. Analysis ofNet Assets Between Funds Tangible Stocks Net
Fixed and Antique Current
Assets Shares Furniture Assets Total
f, f,
Endowment Funds 157,634 157,634
Restricted Funds 5,002 5,002
Unrestricted Designated Funds 175,392 175,392
Unrestricted General Funds 28 657 2328845 100459 2457 961
Total Funds 28,657 2,661,871 105,461 2,795,989
Endowment» Unrestricted Funds
Designated General Total
Unrealised gains at 1 July 2022 127,878 72,778 1,434,716 1,635,372
Gain/(losses)
arising on revaluation		 in year 8973 3966 129 381 134 388
Unrealised gains at 30June 2023 118,905 76,744 1,305,335 1,500,984