##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||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|
##
##
##
##
##
##