2021-06-30-accounts

			Page
Trustees'	annual report
Independent auditor's		report to the members	18
Statement	offinancial	activities	23
Statement	ofchanges	in reserves	24
Statement	offinancial	position	25
Statement	ofcash flows		26
Notes to the financial		statements	27

	Name ofTrustee	Position on	Term	Body ofAppointment
		Governors
1.	Mr. Ian Burleigh	Vice Chair	Jan 26'"	National Board Appointee:
		Executive member	2019-Jan	section 3
			2022
		Member at large
2.	Mr Steven Leach	Secretary	Jan 26e	National Board Appointee:
		Executive member	2019-Jan	Section 3
			2022
		Member at large
3.	Rev. Carl McCann	Executive member	April 17'"	British Isles South District
		Exofficio	2021
			4-year term	The District
			renewed	Superintendents ofthe
				British Isles North District
				and British Isles South
				District, are ex-officio by
				virtue ofoffice.
4.	Rev. Ruth Turner	Executive member	May 10"	British Isles North District
			2021
		Ex officio	2-year term	The District
			renewed	Superintendents ofthe
				British Isles North District
				and British Isles South
				District, are ex-officio by
				virtue ofoffice.
S.	Mrs. Mary Wood	District lay	March 17z"	British Isles North District
		representative	2019-2022	Governors are elected	in
				equal numbers by each
				District Assembly ofthe
				Church ofthe Nazarene	and
				serve between one and	four
				years.
6.	Mr. lain McGookin	District lay	April 17'"	British Isles North District
		representative	2021-2024	Governors are elected	in
				equal numbers by each
				District Assembly ofthe
				Church ofthe Nazarene	and
				serve between one and	four
				years.
7.	Rev. Lorraine Bell	District elder	April 17'"	British Isles North District
		representative	2021-2024	Governors are elected in
				equal numbers by each
				District Assembly ofthe
				Church ofthe Nazarene	and
				serve between one and	four
				years.

	Rev. Osahon Jeremie	District elder	April 17r"	British Isles South District	British Isles South District
	Ogbewei	representative	2021-2024	Governors are elected in
				equalnumbers by each
				District Assembly ofthe
				Church ofthe Nazarene	and
				serve between one and	four
				years.
	Mr. Andrew	District lay	May 14'"	British Isles South District
	Hollingworth	representative	2020-July	Governors are elected in
			2021	equalnumbers by each
			(resigned due	District Assembly ofthe
			to	Church ofthe Nazarene	and
			appointment	serve between one and	four
			as	years.
			consultant)
10.	Mrs Laura Nike	District lay	April 17'"	British Isles South District
		representative	2021-2024	Governors are elected in
				equal numbers by each
				District Assembly ofthe
				Church ofthe Nazarene	and
				serve between one and	four
				years.
11.	Mr. David Day	Member at large	Jan 26e	National Board Appointee:
			2019-Jan	Section 3
			2021
			(extended to
			Jan 2022 due
			to Covid)
12.	Rev. Arthur Snjiders	Member at large	November	National Board Appointee:
	Netherlands		28'" 2020-	Section 3
			2023

3.	Rev. Jim Ritchie	Eurasia Regional 2020- Eurasia Region
		Director following
	Rev. Dr. Deirdre	Principal 2012- Board ofGovernors
	grower tatz	Executive member following
5.	MrJoe Boston	Student Body 2020-21April Student Body Section 4
		President 27th
6.	Mr Tim Geddes	Student Body April 27'" Student Body: Section 4
		President 2021-22
Names ofthe charity trustees		who completed their term ofoffice in 2020-2021.
Rev. Jim Ritchie Governing executive member		October 2019.Resigned to move to a new role on the Eurasia Region Church ofthe Nazarene
Mr. Andrew Graystone		Completed his term ofoffice April 17e 2021
Chair (appointed Ma 2017)
Revd Lynn McLean-Birkinshaw		Completed her term ofoffice April 17u2021
Mr. Chris	Ross	Completed his term ofoffice April 17",2021
Mr. David	Davies	Completed his term ofoffice April 17e,2021
Rev. Karl	Stanfield	National Board election January 2019-2020
		Extended due to Covid-19 until Apdl 17'",2021
Rev. Nathan Payne		Completed his term ofoffice April 17'" 2021
Rev Ruth	Turner	2021completed initial term ofoffice as appointee
Mr Andrew Hollingworth		July 2021resigned from Governors

			we will widen student recruitment including reaching	new	new		markets
			ensure that the education experience ofcurrent students			remains		positive
			offer continued improvements to our courses
Programmes	ofStudy
			we will widen our programmes of study including	in	the Asian			Christian
			Studies and Community Development areas
			review our Youth programmes to ensure we develop	them			in keeping		with
			our strategic vision
Partnershi ps
			we will continue to seek paitnerships with compatible		entities in			order		to
			develop our profile and reach
			make our college accessible to a wide range ofpartners		and their people
			work on delivering the Science for Seminaries for materials				for fulfilment			of
			our grant
Geographical	Reach
		-	The college will continue to develop our relationships	with		the Global South
			for faculty development
		-	The college will continue to strengthen relationships	with		partners		in North
			America
		-	We will continue to recruit from beyond the UKto all	levels			ofprogramme
		-	We will serve diaspora communities within the UK
National and	International	Profile
		-	We will continue to develop our international and national				profile	in	order
			to develop a pipeline ofstudents
		-	We will invest in development ofour alumni networks
Finances
			In order to be sustainable we need to have growth over		and		about our costs,

		Y	ear end	ed 30June	2021
					2021		2020
				Unrestricted	Restricted
Income and endowments			Note	funds 8	funds 8	Totalfunds 6	Total funds
Donations and legacies Charitable activities Investment income Other income			4 5 6 7	210,097 1,024,248 2742 195,024	83,153 351	293,250 1,024,248 3,093 195,024	279,154 1,112,636 3,760 166,708
Total income				1,432,111	83,504	1,515,615	1,582,258
Expenditure
Expenditure on raising funds:
Costs of raising donations		and
legacies Expenditure on charitable	activities		8 9,10	69 1,273,564	66,963	69 'l,340,527	471 1,425,274
Total expenditure				1,273,633	66,963	1,340,596	1,425,745
Net gains/(losses) on investments			12	1,079		1,079	(9,978)
Net income				159,557	16,541	176,098	146,535
Transfers between funds				(1,196)	1,196
Net movement in funds				158,361	17,737	176,098	146,535
Reconciliation offunds
Total funds brought forward				2,367,791	347,059	2,714,850	2,568,315
Total funds carried forward				2,526,152	364,796	2,890,948	2,714,850

		Unrestricted	Restricted	Total
		Funds	Funds	Funds
		F	F
Balance at 1July 2019		2,280,739	287,576	2,568,315
Net Income for the year ended 30June 2020 Other comprehensive income / (expense)		87,052	59,483	146,535
Total comprehensive ended 30July 2020 Transfer	income / (expense) for the year	87,052	59,483	146,535
Balance at 30June	2020	2,367,791	347,059	2,714,850
Net Income for year Other comprehensive	ended 30June 2021 income / (expense)	159,557	16,541	176,098
Total comprehensive ended 30June 2021 Transfer	income/ (expense) for the year	159,557 (1,196)	16,541 1,196	176,098
Balance at 30June	2021	2,526,152	364,796	2,890,948

		30June	2021
			Note	f	2021		2020 5
Fixed assets
Tangible fixed assets			18			1,953,281	1,981,555
Investments			19			111,330	110,250
						2,064,611	2,091,805
Current assets
Debtors			20	174,260			202,603
Cash at bank and	in	hand		1,035,277			725,034
				1,209,537			927,637
Creditors: amounts		falling due within one year	21	102,894			109,840
Net current assets						1,106,641	817,797
Total assets less	current liabilities					3,171,252	2,909,602
Creditom: amounts		falling due after more than
one year			22			280,306	194,752
Net assets						2,890,948	2,714,850
Funds ofthe charity
Restricted funds						364,796	347,059
Unrestricted funds						2,526,152	2,367,791
Total charity funds			24			2,890,948	2,714,850

			2021	2020
			5	8
Cash flows from operating activities
Net income			176,098	146,535
Ajdustments for:
Depreciation oftangible fixed assets			28,274	29,213
Net gains/(losses) on investments Dividends, interest and rents from investments Other interest receivable and similar income Interest payable and similar charges Accrued (income)/expenses			(1,079) (2,640) (453) 8,675 (5,471)	9,978 (2,640) (1,120) 8,894 36,056
Changesin:
Trade and other debtors Trade and other creditors			28,341 103,070	(42,204) (64,168)
Cash generated from operations			334,815	120,544
Interest paid Interest received			(8,675) 453	(8,894) 1,120
Net cash from operating activities			326,593	112,770
Cash flows from investing activities
Dividends, interest and rents from investments Purchase oftangible assets Proceeds from sale oftangible assets			2,640	2,640 (4,573) 1,280
Net cash from/(used in) investing activities			2,640	(653)
Cash flows from financing activities
Proceeds from borrowings			(18,990)	(10,794)
Net cash used in financing activities			(18,990)	(10,794)
Net increase in cash and cash equivalents Cash and cash equivalents at beginning		ofyear	310,243 725,034	101,323 623,711
Cash and cash equivalents at end ofyear			1,035,277	725,034

Year Charitable activities	ended 30June	2021
	Unrestricted	TotalFunds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	E	6	F	6
Fees	943,373	943,373	988,934	988,934
Bookshop sales	422	422	600	600
Education services grants (KC)	51,209	51,209	53,557	53,557
District budgets	29,244	29,244	69,545	69,545
	1,024,248	1,024,248	1,112,636	1,112,636

Disclosure on Grant and Fee	income
		2021	2020
		6	6
Grant Income from OfS		20,156	26,511
Grant Income from other Bodies
Fee Income from taught awards Fee Income from research awards Fee Income from non-qualifying courses		504,324 404,361 34,688	530,076 411,823 47,035
Total grant and fee income		963,529	1,015,445

					Unrestricted	Restricted	Total Funds
					Funds	Funds	2021 f
Income from investment			properties		2,640		2,640
Bank interest receivable					80	351	431
Other investment	income				22		22
					2,742	351	3,093
					Unrestricted	Restricted	Total Funds
					Funds	Funds	2020
					F	6	F
Income from investment			properties		2,640		2,640
Bank interest receivable					270	786	1,056
Other investment	income				64		64
					2,974	786	3,760
Other income
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2021	Funds	2020
					F	6
Lettings and commissions Employer's allowance and JRSincome				137,427 57,597	137,427 57,597	141,495 44,492	141,495 44,492
Other income						721	721
				195,024	195,024	186,708	186,708

8.	Costs of rais	ing	donation	s and lega	cies
					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds	2021	Funds	2020
	Costs of raising		donations	and legacies	E	E		f
	- Donations				69	69	471	471
9.	Expenditure	on	charitable	activities	by fund type
						Unrestricted	Restricted	Total Funds
						Funds	Funds	2021
							f.	E
	Facilities costs Education-related Support costs		costs			178,922 733,606 361,036	6,500 50,086 10,377	185,422 783,891 371,414
						1,273,564	66,963	1,340,527
						Unrestricted	Restricted	Total Funds
						Funds f	Funds	2020 E
	Facilities costs Education-related Supportcosts		costs			206,793 760,981 409,188	6,611 41,699 2	213,404 802,681 409,189
						1,376,962	48,312	1,425,274

Expenditure	on c	haritable activities	by activity typ	e
			Activities
			undertaken		Total funds	Total fund
			directly	Support costs	2021	2020
			F	E	E	E
Facilities and support costs —admin Education-related costs Governance costs			185,422 783,691	361,597 9,817	547,019 783,891 9,817	609,386 802,681 13,207
			969,113	371,414	1,340,527	1,425,274

11.	Analysis ofsupport	costs
			Analysis of
			support costs
			activity 1	Total 2021	Total 2020
					6
	Staff costs General office costs Finance costs Governance costs Travel and accommodation		198,483 64,886 13,087 9,819 5,846	198,483 64,886 13,087 9,819 5,846	203,951 79,659 14,058 13,209 17,466
	Publicity Event costs Depreciation Professional costs and	sundries	38,089 309 28,274 12,621	38,089 309 28,274 12,621	33,044 3,922 29,214 14,646
			371,414	371,414	409,189
12.	Net gains/(losses) on	investments
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds f	2021 F	Funds	2020 F
	Gains/(losses) on other	investment
	assets	1,079	1,079	(9,978)	(9,978)
13.	Net income
	Net income is stated after charging/(crediting):
				2021	2020
	Depreciation oftangible fixed assets Foreign exchange differences			28,274 291	29,213 (156)

				2021	2020
					F
Fees payable	for the audit of	the financial	statements	6000	7 000
Fees payable	to the charity's	auditor and	its associates for other services:
Audit-related assurance services Taxation advisory services				3,000 240	3,240 240
				3,240	3,480

Employer contributi	Employer contributi	ons to pension pla	ons to pension pla	ns		720,828 'l8,039	720,828 'l8,039	720,828 'l8,039	789,235 , 19,536
The average head full-time equivalent		count ofemployees employees during		during the year	the year was is analysed	24 (2020:27).The average as follows:			number of
							2021		2020
Academic Student support							No.	9 3	No. 10 3
Administration								6	6
Chaplaincy								1	1
Housekeeping								1	1
Library								1	1
Manchester	Wesley	Research	Centre					1	1
Maintenance								1	1
Publicity and	recruitment							1	1
								24	25

		2021	2020
		8	6
Salary of Principal Pension of Principal	Salary Pensions Other taxable benefits	39,409 1,182	34,591 1,008
Totals		40,591	35,599

18.	Tangible fixed assets
		Land and	Fixtures and
	Cost	buildings	fittings f	Equipment	Total f
	At 1July 2020 and 30June 2021	2,294,885	192,701	28,827	2,516,413
	Depreciation
	At 1 July 2020 Charge for the year	348,829 22,949	157,202 5,325	28,827	534,858 28,274
	At 30June 2021	371,778	162,527	28,827	563,132
	Carrying amount
	At 30June 2021	1,923,107	30,174		1,953,281
	At 30June 2020	1,946,056	35,499		1,981,555
19.	Investments
			Listed	Investment
	Cost or valuation		investmentsf	properties F	Total f.
	At 1 July 2020 Additions		2,250	108,000	110,250
	Fair value movements		1,080		1,080
	At30June 2021		3,330	108,000	111,330
	Impairment
	At 1July 2020 and 30June 2021
	Carrying amount
	At 30June 2021		3,330	108,000	111,330
	At 30June 2020		2,250	108,000	110,250

Creditors: amo	unts falling due within one year
		2021 f	2020
Bank loans and overdrafts Trade creditors Accruals and deferred income Other creditors Income received in advance		14,167 27,958 44,919 1,822 14,028	14,167 25,019 50,390 6,367 13,897
		102,894	109,840
Creditors: amounts falling due after more than one year
		2021	2020 f
Bank loans and Other creditors	overdrafts	180,306 100,000	194,752
		280,306	194,752

Analysis of	charita	ble funds
Unrestricted	funds
		At				Gains and	At
		1 Jul 2020	Income F	Expenditure f	Transfers f	losses f	so Jun 2021 f
Unrestricted	funds	2,367,791	1,432,111	(1,273,633)	(1,196)	1,079	2,526,152
		At 1 Jul 2019	Income F	Expenditure f	Transfers f	Gains and lOSSeS F	At 30Jun 2020 f
Unrestricted	funds	2,280,739	1,474,463	(1,377,433)		(9,978)	2,367,791

Restrict	ed	funds
			At 1 Jul 2020		Income	Expenditure	Transfers	Gains and losses	At 30Jun 2021
				E	6			6
Student
Scholarship Development		Fund		178,747	46,060	(40,086)	1,196		185,.937
Fund Scottish	School of			127,942	34,467	(16,877)			145,532
Christian	Mission			40,370	2,957	(10,000)			33,327
				347,059	83,504	(66,963)	1,196		364,796
			1	At Jul 2019	Income	Expenditure	Transfers	Gains and losses	At 30Jun 2020
				E		6	E	6
Student
Scholarship Development		Fund		156,195	54,252	(31,699)			178,747
Fund Scottish	School of			81,012	53,543	(6,613)			127,942
Christian	Mission			50,370		(10,000)			40,370
				287,577	107,795	(48,312)			347,059

Analysis ofnet asse	ts between funds
		Unrestricted	Restricted		Total Funds
		Funds	Funds		2021
Tangible fixed assets Investments Current assets Creditors less than 1 Creditors greater than	year 1 year	1,877,120 111,330 896,795 (78,767) (280,306)	76,161 312,742 (24,107)		8 1,953,281 111,330 1,209,537 (102,894) (280,308)
Net assets		2,526,152	364,796		2,890,948
		Unrestricted	Restricted		Total Funds
		Funds	Funds		2020
Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year		1,904,615 110,250 657,518 (109,840) (194,752)	5 76,940 270,119		f 1,981,555 110,250 927,637 (109,840) (194,752)
Net assets		2,367,791	347,059		2,714,850
Analysis ofchanges	in net debt
					At
		At 1 Jul 2020	Cash flows	30Jun 2021
Cash at bank and in hand Debt due within one year Debt due after one year		725,034 (20,534) (194,751)	310,243 4,545 14,445		8 1,035,277 (15,989) (180,305)
		509,749	329233		838982

The total	future	minimum	lease payments	under non-cancellable	operating	leases are	as follows:
						2021	2020
						5
Not later than 1 year Later than 1 year and not			later than 5 years			2,056 19,446	426 22,159
						21,502	22,585

	Cost generating	of funds	Education	Facilities costs	Support costs	Governance	Total 2021	Total 2020
Staff Costs			483,105	39,240	198,483		720,828	789,235
Premises				146,182			146,182	166,900
Administration			208,641		134,838	9,819	353,367	373,653
Bursaries			91,945				91,945	66,743
Depreciation					28,274		28,274	29,214
Total resources
Expended			783,691	185,422	361,595	9,819	1,340,596	1,425,745
Total resources
expended 2020	471		802,681	213,404	395,980	13,209	1,425,745