| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | E | E | E | |||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 3 | 490,717 | 265,318 | 756,035 | 817,954 | |
| Charitable activities |
||||||
| Theological training Union publishing Theological services |
572,131 21,465 88,875 |
572,131 21,465 88,875 |
566,076 | |||
| Other trading activities Investment income |
30,748 23 |
30,748 23 |
25,953 8 |
|||
| Other income | 8,056 | 8,056 | 2,006 | |||
| Total | 1,212,015 | 265.318 | 1477,333 | 1,411997 | ||
| EXPENDITURE ON | ||||||
| Charitable activities | ||||||
| Theological training Mission grants |
1,066,532 225,754 |
257,832 | 1,324,364 225,754 |
1,188,918 136,200 |
||
| Union publishing | 66,046 | 66,046 | 12,872 | |||
| Total | 1358,332 | 257,832 | 1,616,164 | 1,337,990 | ||
| NET INCOME/(EXPENDITURE) | (146,317) | 7,486 | (138,831) | 74,007 | ||
| RECONCIUATION | OF FUNDS | |||||
| Total funds brought | forward | 1,777,448 | 55,512 | 1,832,960 | 1,758,953 | |
| TOTAL FUNDS CARRIED FORWARD | 1.631,131 | 62,998 | 1,694,129 | 1,832,960 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | E | E | |||
| FIXEDASSETS | |||||
| Tangible assets | 14 | 2,010,138 | 2,010,138 | 2,030,341 | |
| CURRENT ASSETS | |||||
| Stocks Debtors |
15 16 |
13,153 66,745 |
13,153 66,745 |
54,307 | |
| Cash at bank and in hand | (775) | 62998 | 62,223 | 158.022 | |
| 79,123 | 62,998 | 142,121 | 212,329 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
17 | (239,655) | (239,655) | (180,019) | |
| NET CURRENT ASSETS | (160,532) | 62,998 | ~97,534) | 32,310 | |
| TOTAL ASSETS LESSCURRENT UABIUTIES | 1,849,606 | 62,998 | 'l,912,604 | 2,062,651 | |
| CREDITORS | |||||
| Amounts falling due after more than one year |
18 | (218,475) | (218,475) | (229,691) | |
| NETASSETS | 1,631,131 | 62,998 | 1,694,129 | 1,832,960 | |
| FUNDS | 22 | ||||
| Unrestricted funds |
1,631,131 | 1,777,448 | |||
| Restricted funds | 62,998 | 55,512 | |||
| TOTAL FUNDS | 1,694,129 | 1832960 |
| Notes | 2022f | 2021f | ||
|---|---|---|---|---|
| Cash flows from operating | activities | |||
| Cash generated from operations Interest paid |
(22,628) (16,462) |
191,725 (20,934) |
||
| Net cash (used in)/provided | by operating activities | ~39.090) | 170,791 | |
| Cash flows from investing | activities | |||
| Purchase oftangible fixed assets Sale oftangible fixed assets Interest received |
(35,914) 3,200 23 |
(48,438) 8 |
||
| Net cash used in investing | activities | ~32,691) | (48,430) | |
| Cash flows from financing | activities | |||
| Loan repayments in year |
$24.018) | )33111) | ||
| Net cash used in financing | activities | (24,018) | $33.111) | |
| Change in cash and cash equivalents |
in the | |||
| reporting period Cash and cash equivalents |
atthe beginning | (95,799) | 89,250 | |
| ofthe reporting period | 158,022 | 68,772 | ||
| Cash and cash equivalents | atthe end | ofthe | ||
| reporting period |
62223 | 158,022 |
| 2022f | 2021f | ||
|---|---|---|---|
| Net (expenditure)/income forthe reporting Rnancial Activities) Adjustments for: |
period (as per the Statement of | (138,831) | 74,007 |
| Depreciation charges Profit on disposal offixed assets Interest received Interest paid increase in stocks (increase)/decrease in debtors Increase in creditors |
56,117 (3,200) (23) 16,462 (13,153) (12,438) 72438 |
56,528 (8) 20,934 3,248 37,016 |
|
| Net cash (used in)/provided by operations |
(22.628) | 191,725 | |
| ANALYSIS OF CHANGES IN NET DEBT | |||
| At 1/9/21 f |
Cash flow f |
At31/8/22 f |
|
| Net cash | |||
| Cash at bank and in hand | 158,022 | (95,799) | 62,223 |
| 158,022 | ~95799) | 62,223 | |
| Debt | |||
| Debts falling due within 1year Debts falling due after 1year |
(28,259) (21D391) |
303 11,216 |
(27,956) (199,175) |
| (23865D) | 11,519 | (227,131) | |
| Total | (80,628) | (84,280) | (164.908) |
| INVESTMENT INCOME | INVESTMENT INCOME | INVESTMENT INCOME | |||||
|---|---|---|---|---|---|---|---|
| 2022f | 2021f | ||||||
| Bank interest receivable | 23 | 8 | |||||
| INCOME FROM | CHARITABLE ACTIVITIES | ||||||
| Activity | 2022f | 2021 f |
|||||
| Income from college fees | Theological | training | 572,131 | 566,076 | |||
| Union publishing | Union publishing | 21,465 | |||||
| Theological services | Theological | services | 88,875 | ||||
| 682,471 | 566,076 | ||||||
| CHARITABLE ACTIVITIES COSTS | |||||||
| Direct | Support | ||||||
| Costs (see | costs (see | ||||||
| note 8) f |
note 9) f |
Totals f. |
|||||
| Theological training |
983,242 | 341,122 | 1,324,364 | ||||
| Mission grants | 187,389 | 38,365 | 225,754 | ||||
| Union publishing | 58,373 | 7,673 | 66,046 | ||||
| 1,229,0D4 | 387,160 | 1,616164 | |||||
| DIRECT COSTSOF CHARITABLE ACTIVITIES | |||||||
| 2022f | 2021 f |
||||||
| Staff costs | 499,242 | 518,673 | |||||
| DIS life assurance | cover | 3,032 | 4,092 | ||||
| Rates and water | 21,058 | 15,333 | |||||
| Insurance | 8,937 | 7,988 | |||||
| Light and heat | 21,218 | 24,1.19 | |||||
| Telephone | 12,020 | 7,348 | |||||
| Postage and stationery | 6,383 | 7,420 | |||||
| Bursary donations | 31,768 | 37,770 | |||||
| Visiting lecturers' | expenses | 38,118 | 22,250 | ||||
| Library | 17,612 | 23,042 | |||||
| University invigilation |
fees | 55,935 | 54,589 | ||||
| IT | 29,900 | 35,014 | |||||
| Repairs and maintenance | 38,162 | 30,556 | |||||
| Service contracts | 1,496 | 1,276 | |||||
| Cleaning | 23,372 | 22,808 | |||||
| Provisions/Catering | 27,563 | 11,151 | |||||
| Staffexpenses | 8,262 | 9,482 | |||||
| Miscellaneous expenses |
9,725 | 3,325 | |||||
| Provision for bad | debts | 8,126 | |||||
| Grants to Church | Planting | projects | 165,329 | 112712 | |||
| Learning Hubs, studio 6 editing |
16,006 | 15,315 | |||||
| Theological services | 28,525 | 56,612 | |||||
| Union publishing | 58,373 | 12,872 | |||||
| Newton House expenses |
35,963 | ||||||
| Graduation expenses |
7,835 | ||||||
| Student hardship | payment | 736 | |||||
| Reformation fellowship |
9,619 | ||||||
| Depreciation | 52,815 | 53,182 | |||||
| 1,229.0D4 | 1,094555 |
| Wages and salaries Social security costs Other pension costs |
2022 f 586,326 58,530 35,771 |
2021 f 534,518 46,360 32,297 |
||
|---|---|---|---|---|
| 680,627 | 613,175 | |||
| The average monthly | number ofemployees | during the year was as follows: | ||
| 2022 | 2021 | |||
| 22 | 20 |
| COMPARATIVES FORTHE STAT | EMENT OF | FINANCIAL ACTI | VITIES | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds f |
fundsf | funds F |
|||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations and legacies |
595,923 | 222,031 | 817,954 | ||
| Charitable activities |
|||||
| Theological training |
566,076 | 566,076 | |||
| Other trading activities Investment income Other income |
25,953 8 2,006 |
25,953 8 2,006 |
|||
| Total | 1,189,966 | 222,031 | 1,411,997 | ||
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| Theological training Mission grants Union publishing |
1,112,812 23,988 12,872 |
76,106 112412 |
1,188,918 136,200 12,872 |
||
| Total | 1,149,672 | 188,318 | 1,337,990 | ||
| NET INCOME | 40,294 | 33,713 | 74,007 | ||
| RECONCILIATION OFFUNDS | |||||
| Total funds brought forward | 1,737,154 | 21,799 | 1,758,953 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,777,448 | 55,512 | 1,832,960 | ||
| TANGIBLE FIXEDASSETS | |||||
| Fixtures, | |||||
| furniture | |||||
| Freehold | and | ||||
| property f |
equipment f |
Website f |
Totals f |
||
| COST | |||||
| At 1September 2021 Additions Disposals |
2,361,076 26,740 |
299,749 9,174 (10,091) |
85,446 | 2,746,271 35,914 ~10,091) |
|
| At31August 2022 | 2,387,816 | 298,832 | 85,446 | 2,772,094 | |
| DEPRECIATION | |||||
| At 1September 2021 Charge for year Eliminated on disposal |
415,096 25,988 |
244,853 19,357 ~10,091) |
55,981 10,772 |
715,930 56,117 (10.091j |
|
| At31August 2022 | 441,084 | 254,119 | 66,753 | 761,956 | |
| NET BOOK VALUE | |||||
| At3IAugust 2022 | 1.946,732 | 44.713 | 18,693 | 2,010,138 | |
| At 31August 2021 | 2,945980 | 54.896 | 29,465 | 2,030,341 |
| 15. | STOCKS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| E | |||
| Stocks | 13,153 | ||
| 16. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| Trade debtors Other debtors Prepayments and accrued income |
F 31,933 898 33,914 |
E 29,111 1,455 23,741 |
|
| 66,745 | 54,307 | ||
| 17. | CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Bank loans and overdrafts (see note 19) Social security and other taxes Other creditors Interest free loans Accruals and deferred income |
2022 f 27,956 14,978 10,680 1,000 185,041 |
2021 F 28,259 13,684 10,591 13,499 113,986 |
|
| 239655 | 180.019 | ||
| Included in Accruals and deferred income is: |
|||
| 2022 | 2021 | ||
| Deferred income brought forward Fees received in advance Released to fees |
E 113,986 130,745 (113,986) |
E 112,839 113,986 (112,839) |
|
| Deferred income carried forward | 130,745 | 113.986 | |
| 18. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 2022 | 2021 | ||
| Bank loans (see note 19) Interest free loans |
E 199,175 19,300 |
E 210,391 19,300 |
|
| 218.475 | 229,691 | ||
| Amounts falling due in more than 5years: |
|||
| Bank loans payable by instalments |
104,541 | 129,177 |
| 19. | LOANS | |||||||
|---|---|---|---|---|---|---|---|---|
| An analysis ofthe maturity ofloans is given below: | ||||||||
| 2022 | 2021 | |||||||
| E | E | |||||||
| Amounts | falling due within one year on | demand: | ||||||
| Bank loans | 27,956 | 28,259 | ||||||
| Amounts | falling between | one and two years: | ||||||
| Bank loans | 27,956 | ~28 799 | ||||||
| Amounts | falling due between two and five years: | |||||||
| Bank loans - 2-5 years | 87,275 | 87,275 | ||||||
| Amounts | falling due in more than five years: | |||||||
| Repayable | by instalments: | |||||||
| Bank loans more 5yr by | instal | 83,944 | 94,317 | |||||
| 20. | LEASING | AGREEMENTS | ||||||
| Minimum | lease payments | under non-cancellable | operating | leases fall due as follows: | ||||
| 2022 | 2021 | |||||||
| E | E | |||||||
| Within one year | 9,174 | 10,209 | ||||||
| Between one and five years | ~16140 | 25,314 | ||||||
| 25,314 | 35,523 | |||||||
| 21. | SECURED | DEBTS | ||||||
| The following secured debts are induded | within creditors: | |||||||
| 2022 | 2021 | |||||||
| E | E | |||||||
| Bankloans | 227,131 | 233,650 | ||||||
| The bank borrowings are secured by a first legal charge over the property. |
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1/9/21 f |
in funds f |
31/8/22 f |
||
| Unrestricted funds |
||||
| General fund Revaluation reserve |
1,004,324 773,124 |
(146,317) | 858,007 773,124 |
|
| Restricted funds | 1,777,448 | (146,317) | 1,631,131 | |
| Bursary gifts | 707 | (707) | ||
| Welsh publications SaRang scholarship fund SaRang projects fund |
1,290 17,443 21,299 |
(17,443) 830 |
1,290 22,129 |
|
| Chairman's expenses fund |
2,273 | 2,273 | ||
| Language Prize Fund |
2,500 | 2,500 | ||
| Newton House fund Video Publishing Project |
10,000 | (10,000) 22,893 |
22,893 | |
| Student Hardship Fund |
1,913 | 1,9'13 | ||
| Daniel Rowland Centre | 10,000 | 10,000 | ||
| 55,512 | 7,486 | 62,998 | ||
| TOTAL FUNDS | 1.832,960 | ~338,831) | 1,694,129 | |
| Net movement in funds, included |
in the above are as follows: | |||
| incoming | Resources | Movement | ||
| resources f |
expended f |
in funds f |
||
| Unrestricted funds |
||||
| Generai fund | 1,212,015 | (1,358,332) | (146,317) | |
| Restricted funds | ||||
| Bursary gifts SaRang scholarship fund SaRang projects fund |
3,618 176,158 |
(4,325) (17,443) (175,328) |
(707) (17,443) 830 |
|
| Newton House fund Video Publishing Project |
22,893 | (10,000) | (10,000) 22,893 |
|
| Student Hardship Fund |
2,649 | (736) | 1,913 | |
| Daniel Rowland Centre METES Project |
10,000 50,000 |
~50.000) | 10,000 | |
| 265,318 | ~257,832) | 7,486 | ||
| TOTAL FUNDS | 1477,333 | (1.616.164) | ~)38,831) |
| MOVEMENT IN FUNDS - conti | MOVEMENT IN FUNDS - conti | MOVEMENT IN FUNDS - conti | nued | |||
|---|---|---|---|---|---|---|
| Comparatives for movement |
in funds | |||||
| Net | ||||||
| movement | At | |||||
| At 1/9/20 f |
in funds E |
31/8/21 E |
||||
| Unrestricted funds |
||||||
| General fund Revaluation reserve |
964,030 773,124 |
40,294 | 1,004,324 773,124 |
|||
| Restricted funds | 1,737,154 | 40,294 | 1,777,448 | |||
| Bursary gifts Welsh publications SaRang scholarship fund SaRang projects fund Chairman's expenses fund Language Prize Fund Newton House fund |
2,106 1,290 7,443 8,687 2,273 |
(1,399) 10,000 12,612 2,500 10,000 |
707 1,290 17,443 21,299 2,273 2,500 10,000 |
|||
| 21,799 | 33.713 | 55,512 | ||||
| TOTAL FUNDS | 1753,953 | 74,007 | 1,532.950 | |||
| Comparative net movement |
in | funds, included | in the above are as follows: | |||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| E | E | E | ||||
| Unrestricted funds |
||||||
| General fund | 1,189,966 | (1,149,672) | 40,294 | |||
| Restricted funds | ||||||
| Bursary gifts SaRang scholarship fund SaRang projects fund E Union Language Prize Fund Newton House fund |
9,507 10,000 124,824 65,200 2,500 10,000 |
(10,906) (112,212) (65,200) |
(1,399) 10,000 12,612 2,500 10,000 |
|||
| 222,031 | (188,318) | 33,713 | ||||
| TOTAL FUNDS | 1,411,997 | (1,337,990) | 74,007 |