2021-08-31-accounts - Northern College (United Reformed And Congregational)

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CONTENTS		PAGE
Trustees Annual Report
Independent Auditor's	Report to the Trustees	13
Statement of Financial	Activities	16
Balance Sheet		17
Cash Flow Statement		18
Notes to the Financial	Statements	19

			TRUSTEES REPORT	TRUSTEES REPORT	TRUSTEES REPORT
			YEAR ENDED 31 AUGUST 2021
OFFICERS:
President			Mrs S M Davies (ceased 2~ July Revd J R Grundy (from 13"July			2021) 2021)
Secretary			Revd BSJolly
Treasurer			Mr W Duncan
Principal			Revd Dr R M Selby
Principal Address			Luther King House
			Brighton Grove
			Rusholme
			Manchester
			M14 5JP
Registered	Charity	Number	529253
Custodian	Trustee		The Northern College	Trust Limited
ADVISERS:
Auditors			Beever and Struthers
			St George's House
			215-219Chester Road
			Manchester M154JE
Solicitors			Veale Wasbrough Vizards		LLP
			Second Floor, 3 Brindley Place,
			Birmingham B12JB
Bankers			Triodos Bank
			Deanery Road
			Bristol BS15AS
Investment	Advisors		Brewin Dolphin
			10Wellington Place
			Leeds LS1 4AN
Insurance	Brokers		Edwards Insurance	Brokers:
			Congregational Integra Insurance			Solutions	Ltd
			Currer House
			Currer Street
			Bradford
			West Yorkshire BD1	5BA

							Total	Total
			Unrestricted	Restricted		Endowment	Funds	Funds
		Note	Funds f	Funds f		Funds E	2021	2020 6
INCOMING
RESOURCES
Incoming resources
from generating	funds:
Voluntary
income		2	2,190				2,190	1,455
Investment
income		3	135,056	1,767			136,823	138,489
Incoming
resources from
charitable
activities		4	341,249				341,249	377,715
TOTAL INCOMING
RESOURCES			478,495	1,767			480,262	517,659
RESOURCES
EXPENDED
Raising funds Charitable		5	(27,352)				(27,352)	(23,682)
Activities		6	(502,796)	(7,060)			(509,856)	(555,618)
TOTAL RESOURCES
EXPENDED			(530,148)	(7,060)			(537,208)	(579,300)
NET (EXPENDITURE)
BEFORE GAINS,
LOSSESAND TRANSFERS			(51,653)	(5,293)			(56,946)	(61,641)
OTHER
RECOGNISED GAINS
AND LOSSES
Gains on investment
assets			1,094,501		583	5,062	1,100,146	20,301
TRANSFERS
BETWEEN FUNDS			(345)		345
NET MOVEMENT		IN
FUNDS			1,042,503	(4,365)		5,062	1,043,200	(41,340)
RECONCILIATION		OF
FUNDS
Total funds brought
forward			6,329,654	36,561		317,303	6,683,518	6,724,858
TOTAL FUNDS
CARRIED FORWARD			7,372,157	32,196		322,365	7,726,718	6,683,518

YEAR ENDE	D 31 AUGUST 2021
		2021 8	2020f
Net cash provided by / (used in) operating	activities	263,622	(247,207)
Cash flows from Investing activities
Dividends and interest from investments	136,823		138,489
Payments to acquire tangible fixed assets Acquisition of other investments	(1,892,390)		(4,425) (820,009)
Disposal of other investments	1,267,291		1,025,789
Net cash provided by investing activities		(488,276)	339,844
(DECREASE) / INCREASE IN CASH		(224,654)	92,637
CASH AND CASH EQUIVALENTS AT THE START
OF THE YEAR		661,804	569,167
CASH AND CASH EQUIVALENTS AT THE END
OF THE YEAR		437,150	661,804
RECONCILIATION OF NET INCOMING	RESOURCES BEFORE	TRANSFERS	TO NET
CASH OUTFLOW FROM OPERATING ACTIVITIES
Net (outgoing) resources before transfers Dividends and interest from investments Realised investment gains / (losses) Depreciation (Increase) / Decrease in debtors Increase / (Decrease) in creditors		(56,946) (136,823) 572,581 10,774 (126,298) 334	(61,641) (138,489) (86,481) 10,608 29,510 (714)
Net cash provided by / (used in) operating	activities	263,622	(247,207)

					Total
			Unrestricted	Restricted	Funds
			Funds f	Funds f	2021
Bank	interest receivable		242		242
Other	interest receivable		1,631		1,631
Other	investment	income	133,183	1,767	134,950
			135,056	1,767	136,823
					Total
			Unrestricted	Restricted	Funds
			Funds f	Funds f	2020 f
Bank Other	interest receivable interest receivable		1,953 2,024		1,953 2,024
Other	investment	income	132,840	1,872	134,512
			136,617	1,872	138,489

INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
	2021	2020
	f	f
URC student and RCL funding Moravian student fees Other income	330,146 4,933 6,170	348,772 9,747 19,196
	341,243	377,715

			Unrestricted
			funds f	Total	funds 2021 f
Investment	management	costs	27,352		27,352
			27,352		27,352
			Unrestricted
			funds	Total	funds 2020
			f		f
Investment	management	costs	23,682		23,682
			23,682		23,682

					Total
			Unrestricted	Restricted	Funds
			Funds f	Funds f	2021 f
Training	for mission	and ministry	337,548		337,548
Support	costs		165,248	7,060	172,308
			502,796	7,060	509,856
					Total
			Unrestricted	Restricted	Funds
			Funds f	Funds f	2020 f
Training	for mission	and ministry	365,381		365,381
Support	costs		180,367	9,870	190,237
			545,748	9,870	555,618

COSTS	OF	CHARITABLE AC	TIVITIES BYACTIVITY	TYPE
			Activities
			undertaken	Governance &	Total Funds
			directly f	support costs f	2021 f
Training	for	mission
and ministry			337,548	162,238	499,786
Governance		costs		10,070	10,070
			337,548	172,308	509,856
			Activities	Governance &	Total
			undertaken	support	Funds
			directly f	costs f	2020 f
Training	for	mission
and ministry			365,381	174,921	540,302
Governance		costs		15,316	15,316
			365,381	190,237	555,618

GOVERNANCE &SU	PPO		RT COSTS
					Total
				Unrestricted	Funds
				Funds	2021
				6
Admin staff costs and	expenses			49,149	49,149
Treasurer and secretary expenses				1,000	1,000
College houses expenses			and rates	3,640	3,640
Staff housing and relocation costs				27,747	27,747
Library block charge				34,000	34,000
Principal's emergency	fund			1,560	1,560
Prizes, bursaries and	scholarship			19,060	19,060
Telephone costs				4,274	4,274
Printing, postage and	stationery			1 232	1 232
ITcosts / maintenance				8,509	8,509
Advertising costs				992	992
Payroll processing costs				301	301
Depreciation				10,774	10,774
Governance Costs:
Audit and accountancy	fees			8,207	8,207
Legal and professional	fees			343	343
Costs of Trustees' meetings				1,159	1,159
Other financial costs				361	361
Other governance costs
				172,308	172,308
					Total
				Unrestricted	Funds
				Funds	2020
Admin staff costs and	expenses			47,984	47,984
Treasurer and secretary expenses				2,185	2,185
College houses expenses		and rates		5,981	5,981
Staff housing and relocation			costs	36,324	36,324
Library block charge				34,000	34,00
Principal's emergency	fund			3,003	3,003
Prizes, bursaries and	scholarship			21,370	21,370
Telephone costs				4,284	4,284
Printing, postage and	stationery			1,980	1,980
ITcosts / maintenance				5,540	5,540
Advertising costs				1,580	1,580
Payroll processing costs				325	325
Depreciation				10,608	10,608
Governance Costs:
Audit and accountancy	fees			8,088	8,088
Legal and professional fees Costs ofTrustees' meetings				3,013 3,683	3,013 3,683
Other financial costs				104	104
Other governance costs				185	185
				190,237	190,237

equivalents (	FTE)and actual headco	unt (HC), was as	follows:
		2021	2021	2020	2020
		FTE	HC	FTE	HC
		No.	No.	No.	No.
Teaching and	related staff	6	6	6	6
Administration	staff	1	1	1	1

TANGIBLE FIXEDA	SSETS
		Freehold	Fixtures &
		property	Fittings f	Total
COST
At 1 September 2020		465,000	20,058	485,058
Additions
At 31 August 2021		465,000	20,058	485,058
DEPRECIATION
At 1 September 2020		45,105	16,942	62,047
Charge for the year		9,300	1,474	10,774
Eliminated on disposals
At 31August 2021
NET BOOK VALUE
At 31 August 2021		410,595	1,642	412,237
At 31 August 2020		419,895	3,116	423,011
INVESTMENTS
Movement in market	value
			2021	2020
				f
Market value at 1 September 2020			5,460,298	5,559,295
Acquisitions at cost			1,892,390	820,009
Disposals at carrying value Gains I(Losses) on revaluation			(1,267,291) 527,565	(1,025,789) 106,783
Market value at 31 August 2021			6,612,962	5,460,298

Analysis of investme	nts at 31 Augu	st 2021 betwe	en funds
				Total	Total
	Unrestricted	Restricted	Endowment	Funds	Funds
	Funds	Funds f	Funds f'	2021 f	2020 f
Listed investments
UK Quoted fixed
interest Securities	6,562,126	5,252	45,584	6,612,962	5,460,298

DEBTORS
					2021	2020
					8	f
Trade debtors Loans to Luther		King House	Educational	Trust	9,981 213331	7,633 138,331
Other debtors						700
Prepayments	and Accrued		Income		59,403	9,753
					282,715	156,417

CREDIT	ORS	: Amount	s falling due within one	year
				2021	2020
				6	F
Taxation	and	social security		5,139	5,654
Accruals	and	deferred	income	13,207	12,358
				18,346	18,012

	Balance at		Gains and	Balance at
	1 Sep 2020 f	Transfers f	losses F	31 Aug 2021 E
Permanent
endowments
Bursary Fund	246,584		3,934	250,518
Prize Fund	10,946		174	11,120
Library Fund	59,773		954	60,727
	317,303		5,062	322,365
	Balance at		Gains and	Balance at
	1 Sep 2019	Transfers	losses	31Aug 2020
	E	E	8	8
Permanent
endowments
Bursary Fund Prize Fund	249,779 11,088		(3,195) (142)	246,584 10,946
Library Fund	60,547		(774)	59,773
	321,414		(4 111)	317303

				Outgoing
		Balance at	Incoming	resources	Gains, losses		Balance at
		1 Sep 2020 f	resources f	and transfers f	and	transfers 6	31 Aug 2021 f
Bursary	Fund	34,098	1,401	(6.660)		544	29,383
Prize Fund			55	(400)		345
Library	Fund	2,463	311			39	2,813
		36,561	1,767	(7,060)		928	32,196
				Outgoing
		Balance at	Incoming	resources	Gains, losses		Balance at
		1 Sep 2019 f	resources 6	and transfers 6	and	transfers f	31 Aug 2020 E
Bursary	Fund	41,603	1,497	(8,470)		(532)	34,098
Prize Fund		(728)	53	(1,400)		2,075
Library	Fund	2,169	322			(28)	2,463
		43,044	1,872	(9,870)		1,515	36,561

UNREST	RICTED	INCOME FUN	DS
				Outgoing
		Balance at	Incoming	resources	Gains, losses	Balance at
		1 Sep 2020	resources	and transfers	and transfers	31Aug 2021
		f'		6	6
General	Funds	6,329,654	478,495	(530,148)	1,094,156	7,372,157
				Outgoing
		Balance at	Incoming	resources	Gains, losses	Balance at
		1 Sep 2019 f	resources f	and transfers 6	and transfers 8	31 Aug 2020 f
General	Funds	6,360,400	515,787	(569,430)	22,897	6,329,654