2021-03-31-accounts - St Cuthbert's College Ushaw

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Trustees				Rt Reverend	M	Device -	Device -	Bishop of Shrewsbury	Bishop of Shrewsbury	Bishop of Shrewsbury
				Rt Reverend	T	P Drainey		—Bishop of Middlesbrough
				Rt Reverend	P	Swarbrick		- Bishop of Lancaster
				Rt Reverend	R	Byrne	—Bishop of Hexham			& Newcastle
				Rt Reverend	R	Heskett-		Bishop of Hallam
				Most Reverend		M McMahon			-Archbishop	of Liverpool
				Rt Reverend	M	Stock - Bishop of Leeds
				Rt Reverend	JArnold		- Bishop of Salford
Charity	number			527408
Principal	address			Ushaw College
				Ushaw
				Durham
				DH7 9RH
Auditor				Galley &Tindle		Audit	Limited
				Oakmere
				Belmont Business Park
				Durham
Bankers				Barclays Bank Pic
				Market Place
				Durham
				DH1 3NB
Solicitors				Grays
				Duncombe Place
				York
				YO17DY
Investment		advisors		Henderson Global Investors
				201 Bishopgate
				London
				EC2M 3AE
Advisors	to Trustees			JWhiston
				C Lawrence
Senior Management			Personnel	PSeed - Director of Operations
				J Ward - Commercial			Manager

		Page
Trustees' report		1-5
Statement oftrustees'	responsibilities
Independent auditor's	report	7-9
Statement offinancial	activities	10
Balance sheet
Statement ofcash flows		12
Notes to the financial	statements	13-27

			Unrestricted	Restricted	Total	Total
			funds	funds
			2021	2021	2021	2020
		Notes		6	6	6
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Donations and legacies Charitable activities Other trading activities Investments		3 4 6 6	269,007 594,360 10,879 37,814	384,343 2,598	653,350 596,958 10,879 37,814	109,121 957,777 41,883 67,042
Total income			912,060	386,941	1,299,001	1,175,823
Rxuattfl)h/GLgn;
Raising funds		7	26,847	905	27,752	50,818
Charitable activities		8	821,190	369,297	1,190,487	1,483,592
Total resources expended			848,037	370,202	1,218,239	1,534,410
Net gains/(losses) on investments		13				19,354
Net Incoming/(outgoing)	resources before
transfers			64,023	16,739	80,762	(339,233)
Gross transfers between	funds		8,755	(8,755)
Net Income/(expenditure)	for the year/
Net movement in funds			72,778	7,984	80,762	(339,233)
Fund balances at 1 April	2020		2,482,076	40,023	2,522,099	2,861,332
Fund balances at 31 March 2021			2,554,854	48,007	2,602,861	2,522,099

				f	2021	2020 8
Fixed assets
Tangible assets Investment properties			14 15		461,999 3,690,177	500,541 3,690,177
Current assets					4,152,176	4,190,718
Stocks Debtors Cash at bank and in	hand		16 17	5,413 253,639 200,330		5,698 97,718 144,750
Creditors: amounts	falling due within			459,382		248,166
one year			18	(290,743)		(273,712)
Net current assets/(liabilities)					168,639	(25,546)
Total assets lese current		liabilities			4,320,815	4,165,172
Creditors: amounts	falling	due after
more than one year			19		(1,717,954)	(1,643,073)
Net assets
					2,602,861	2,522,099
Income funds
Restdcted funds Unrestricted funds - general			21		48,007 2,554,854	40,023 2,482,076
					2,602,861	2,522,099

			2021		2020
		Notes	f		6
Cash flows from operating	activities
Cash absorbed by operations		25		(43,559)		(404,001)
Investing activities
Purchase oftangible fixed assets Proceeds on disposal of investments Investment income received			(13,556) 37,814		(78,584) 64,103 67,042
Net cash generated from Investing
activities				24,258		52,561
Financing activities
Repayment of borrowings			74,881		48,605
Net cash generated from financing
activities				74,881		48,605
Net increase/(decrease) in cash and		cash
equivalents				55,580		(302,835)
Cash and cash equivalents at	beginning	ofyear		144,750		447,585
Cash and cash equivalents	at end of	year		200,330		144,750

		Unrestricted	Restricted	Total	Total
		funds	funds
		general
		2021	2021	2021	2020
			6	6	f
Donations and gifts Cultural engagement	grants	14,847 254,160	5,048 379,295	19,895 633,455	55,555 53,566
		269,007	384,343	653,350	109,121

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		Unrestricted	Unrestricted
		funds	funds
		general	general
		2021	2020
		E	E
Bar8 cafe sales			15,777
Gift shop sales		2,023	16,636
Other trading	income	8,856	9,470
Other trading	activities	10,879	41,883

		Unrestricted	Unrestricted
		funds	funds
		general	general
		2021	2020
		E	E
Rental	income	37,759	66,540
Interest	receivable	55	502
		37,814	67,042

				Unrestrfcted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				general			general
				2021	2021		2020	2020	2020
				E	E		E	E	E
	rai	i	Ici
Investment			managers
costs				9,335		9,335	14,484		14,484
Advertising				7,794	905	8,699	21,916	5,588	27,504
Stalf	costs			9,718		9,718	8,830		8,830
Fundraising			and publicity	26,847	905	27,752	45,230	5,588	50,818
				26,847	905	27,752	45,230	5,588	50,818

		DII'ect costs	Support	Cultural	Total	Total
			costsengagement		2021	2020
				costs
		2021	2021	2021
		E	f	8
Staff costs Depreciation and impairment Conference & event costs Property expenses Irrecoverable jyAT Other costs Project costs Loan interest Computer costs Print, post & stationery Telephone Equipment hire		413,042 52,098 66,437 279,631 28,813 4,799	10,132 26,967 15,346 3,268 6,420 540 56,576	1,409 2,187 173,755	643,373 52,098 66,437 279,631 28,813 16,340 2,187 26,967 15,346 3,268 6,420 540	610,309 44,532 258,990 359,928 10,981 26,299 7,442 48,605 13,567 5,253 5,717 720
Bank &credit card charges Cafe & bar purchases Shop purchases Repairs			5,538	2,202	5,538 2,202	6,172 8,304 11,877 556
Consultancy		29,697			29,697	52,844
		874,517	124,787	179,553	1,178,857	1,472,096
Share ofgovernance	costs (see note 9)
		11,630			11,630	11,496
		886,147	124,787	179,553	1,190,487	1,483,592
Analysis by fund
Unrestricted funds - general Restricted funds		524,221 361,926	118,825 5,962	178,144 1,409	821,190 369,297	1,324,439 159,153
		886,147	124,787	179,553	1,190,487	1,483,592

Support	costs
		Support	Governance	2021	2020
		costs	costsf
Audit fees Legal and professional Accountancy services			6,300 1,313 4,017	6,300 1,313 4,017	6,000 3,670 1,826
			11,630	11,630	11,496
Analysed	between
Charitable	activities		11,630	11,630	11,496

The average	monthly number ofemployees during t	he year was:
		2021	2020
		Number	Number
		41	36
Employment	costs	2021	2020
		f	f
Wages and	salaries	653,091	619,139

							Total	Unrestricted
								funds
								general
								2020
								E
Revaluation		of investment		properties				19,354
Tangible	fixed assets
					Leasehold	Plant and	Fixtures and	Total
					Improvements	equipment	rttdngs
					E	E	E
Cost
At 1 April	2020				2,067,584	34,871	96,785	2,199,240
Additions						4,048	9,508	13,556
At 31 March		2021			2,067,584	38,919	106,293	2,212,796
Depreciation		and impairment
At 1 April 2020 Depreciation charged			in the	year	1,630,364 30,074	29,188 2,918	39,147 19,106	1,698,699 52,098
At 31 March		2021			1,660,438	32,106	58,253	1,750,797
Canying	amount
At 31 March		2021			407,146	6,813	48,040	461,999
At 31 March		2020			437,221	5,683	57,637	500,541

16	Stocks
					2021	2020
						6
	Raw materials	and consumables			5,413	5,698
17	Debtors
					2021	2020
	Amounts falling due within one year.				6
	Trade debtors Other debtors				56,027 21,928	44,024 10,186
	Prepayments	and accrued income			175,684	43,508
					253,639	97,718
18	Creditors: amounts		falling due within one year
					2021	2020
				Notes		f
	Other taxation and social security Deferred income Trade creditors Other creditors Accruals and deferred income			20	8,887 124,426 49,854 81,414 26,162	8,758 124,746 40,839 68,763 30,606
					290,743	273,712
19	Creditors: amounts		falling due after more than one year
					2021f	2020
	Borrowings				1,717,954	1,643,073

														2021	2020
														6	6
Other deferred income														124,426	124,746
Deferred income 2020/21.	relates		to money		received		from Durham		University		and Vickers			8 Barrass	relating to
Restricted funds
The income funds	of	the	charity	include		restricted funds		comprising		the following			unexpended		balances of
donations and grants		held	on trust		for specific purposes:
									Movement			in funds
							Balance at		Incoming		Resources			Transfers	Balance at
						1	April 2020	resources			expended			31 March 2021
							8		6			6		6	E
Friends of Ushaw							8,539		3,462						12,001
Conservation of Pugin		Altarpiece					5,969								5,969
Nativity Sculptures							1,700								1,700
Cultural Engagement							1,009								1,009
Museum Grant									2,349			(1,288)			1,061
Roger Kelly MF							9,304		590			(14)			9,880
COVID-19 Assistance									10,000		(14,664)			4,664
Choir							886		90						976
Holiday Activities									2,254			(409)			1,845
Cultural Engagement		-General							1,000						1,000
Education							12,616		5,965			(9,275)			9,306
CDCF COVID-19	Grant								5,000			(1,565)		(3,435)
Outdoor Windows									10,000			(9,663)			337
NLHF - Cultural Recovery								343,731			(333,325)			(9,983)	423
CDCF - Digital Ushaw									2,500						2,500
							40,023	386,941			(370,203)			(8,754)	48,007

Analysis of net assets between	funds
		Unrestricted	Restricted	Total	Total
		funds	funds
		2021	2021	2021	2020
		6	f.	6	L'
Fund balances at 31 March 2021	are
represented by:
Tangible assets Investment properties Current assets/(liabilities) Long term liabilities		461,999 3,690,177 120,632 (1,717,954)	48,007 -	461,999 3,690,177 168,639 (1,717,954)	500,541 3,690,177 (25,546) (1,643,073)
		2,554,854	48,007	2,602,861	2,522,099

	2021	2020
	6	6
Within one year Between two and five years	5,184 7,416	5,184 7,416
	12,600	12,600

Cash generated from	operations	operations				2021	2020
						6	6
Surplus/(deficit) for the	year					80,762	(339,233)
Adjustments for:
Investment income recognised		in statement		offinancial	activities	(37,814)	(67,042)
Fair value gains and losses on		investment		properties			(19,354)
Depreciation and impairment of tangible			fixed assets			52,098	44,532
Movements in working	capital:
Decrease in stocks						285	522
(Increase)/decrease in	debtors					(155,921)	74,666
Increase/(decrease) in	creditors					17,351	(85,676)
(Decrease) in deferred	income					(320)	(12,416)
Cash absorbed by operations						(43,559)	(404,001)