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|CONTENTS||PAGE|
|---|---|---|
|Trustees Annual
Report|||
|Independent
Auditor's|Report to the Trustees|12|
|Statement of Financial|Activities||
|Balance Sheet||17|
|Cash Flow Statement||18|
|Notes to the Financial|Statements|19|
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||||||||||||Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted||Restricted|||Endowment||Funds|Funds|
||||||Funds|||Funds||Funds|2022|2021|
|||Note||||||||8|6|F|
|INCOMING|||||||||||||
|RESOURCES|||||||||||||
|Incoming resources|||||||||||||
|from generating|funds:||||||||||||
|Voluntary|||||||||||||
|income|||2||1,837||||||1,837|2,190|
|Investment|||||||||||||
|income|||3||133,021|||1,388|||134,409|136,823|
|Incoming|||||||||||||
|resources from|||||||||||||
|charitable|||||||||||||
|activities|||4||352,515||||||352,516|341,249|
|TOTAL INCOMING|||||||||||||
|RESOURCES|||||487,373|||1,388|||488,761|480,262|
|RESOURCES|||||||||||||
|EXPENDED|||||||||||||
|Raising funds|||6||(27,218)||||||(27,218)|(27,352)|
|Charitable|||||||||||||
|Activities|||6||(633,254)||(7,710)||||(540,964)|(509,856)|
|TOTAL RESOURCES|||||||||||||
|EXPENDED|||||(560,472)||(7,710)||||(668,182)|(537,208)|
|NET (EXPENDITURE)|||||||||||||
|BEFOREGAINS,|||||||||||||
|LOSSESAND|||||(73,099)||(6,322)|||-|(79,421)|(56,946)|
|TRANSFERS|||||||||||||
|OTHER|||||||||||||
|RECOGNISED|GAINS||||||||||||
|AND LOSSES|||||||||||||
|(Losses)
ri gains|on||||||||||||
|investment
assets|||||(816,436)|||(310)||(3,099)|(819,845)|1,100,146|
|TRANSFERS|||||||||||||
|BETWEEN FUNDS|||||||||||||
|NET MOVEMENT||IN|||||||||||
|FUNDS|||||(889,535)||(6,632)|||(3,099)|(899,266)|1,043,200|
|RECONCILIATION|||OF||||||||||
|FUNDS|||||||||||||
|Total funds brought|||||||||||||
|forward|||||7,372,157||32,196||322,365||7,726,718|6,683,518|
|TOTAL FUNDS|||||||||||||
|CARRIED FORWARD|||||6,482,622||25,564||319,266||6,827,452|7,726,718|
|The Statement|||of|Financial Activities includes||||all gains|snd losses in the||year and therefore||
||a statement||||oftotal recognised|gains and losses has||||not been|prepared.||
|||||All|ofthe above amounts||relate to continuing|||acttvilies.|||
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||YEAR ENDED|31 AUGUST 2022|31 AUGUST 2022|||
|---|---|---|---|---|---|
|||||2022|2021|
||||||F|
|Net cash provided|by operating
activities|||219,703|263,622|
|Net cash used In investing
activities||||||
|Dividends
and interest from investments|||134,409||136,823|
|Acquisition
ofother|investments|(793,020)|||(1,892,390)|
|Disposal ofother investments|||477,348||1,267,291|
|Net cash provided|by investing
activities|||(181,263)|(488,276)|
|INCREASE I(DECREASE) IN CASH||||38,440|(224,654)|
|CASH AND CASH|EQUIVALENTS AT THE|START||||
|OF THE YEAR||||437,150|661,804|
|CASH AND CASH|EQUIVALENTS AT THE END|||||
|OF THE YEAR||||475,590|437,150|
|RECONCILIATION|OF NET OUTGOING|RESOURCES|BEFORE|TRANSFERS TO NET||
|CASH OUTFLOW|FROM OPERATING ACTMTIES|||||
|Net (outgoing)
resources
before transfers||||(79,421)|(56,946)|
|Dividends
and interest
from investments||||(134,409)|(136,823)|
|Realised
investment|gains|||359,803|572,581|
|Depreciation||||10,774|10,774|
|Decrease / (increase)
in debtors||||53,954|(126,298)|
|Increase
in creditors||||9,002|334|
|Net cash provided|by operating
activities|||219,703|263,622|
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||||2022|2021|
|---|---|---|---|---|
|URC student||and RCL funding|337,098|330,146|
|Moravian|student fees||4,733|4,933|
|URC lay|preaching||7,235||
|Other income|||3,449|6,170|
||||362,515|341,249|
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||||||Total|
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Funds|
||||Funds
8|Funds|2022
f|
|Training|for mission|and ministry|353,393||363,393|
|Support|costs||174,349|7,710|182,059|
||||527,742|7,710|636,452|
||||||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|
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|COSTS|OF|CHARITABLE AC|TIVITIES BYACTIVITY|TYPE||
|---|---|---|---|---|---|
||||Activities|||
||||undertaken|Governance
&|Total Funds|
||||directly
6|support costs
f|2022
f|
|Training|for|mission||||
|and ministry|||353,393|173,686|526,979|
|Governance||costs||13,985|13,985|
||||353,393|187,571|540,964|
||||Activities|Governance
&|Total|
||||undertaken|support|Funds|
||||directly
f|costs
f|2021
6|
|Training|for|mission||||
|and ministry|||337,548|162,238|499,786|
|Governance||costs||10,070|10,070|
||||337,548|172,308|509,856|
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|GOVERNANCE
&SU|PPORT COSTS|||
|---|---|---|---|
||||Total|
|||Unrestricted|Funds|
|||Funds|2022|
||||6|
|Admin staff costs and|expenses|54,881|54,881|
|Treasurer
and secretary expenses||665|665|
|College houses expenses and rates||4,000|4,000|
|Staff housing
and relocation costs||24,250|24,250|
|Library block charge||34,000|34,000|
|Principal's
emergency|fund|1,205|1,206|
|Prizes, bursaries
and|scholarship|19,273|19,273|
|Telephone costs||3,667|3,667|
|Printing,
postage and|stationery|2,264|2,264|
|ITcosts / maintenance||6,327|5,327|
|Adverbsing
costs, inc|website|13,021|13,021|
|Payroll processing
costs||269|269|
|Depreciation||10,774|10,774|
|Governance
Costs:||||
|Audit and accountancy|fees|8,658|8,658|
|Legal and professional|fees|663|663|
|Costs ofTrustees'
meetings||4,392|4,392|
|Other financial costs||272|272|
|||187,571|187,571|
||||Total|
|||Unrestricted|Funds|
|||Funds|2021|
|Admin staff costs and|expenses|49,149|49,149|
|Treasurer
and secretary expenses||1,000|1,000|
|College houses expenses
and rates||3,540|3,640|
|Staff housing
and relocation costs||27,747|27,747|
|I ibrary block charge||34,000|34,000|
|Principal's
emergency|fund|1,560|1,560|
|Prizes, bursaries
and|scholarship|19,060|19,050|
|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 ofTrustees'
meetings||1,159|1,159|
|Other financial costs||351|351|
|||172,308|172,308|
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|equivalents
(F|TE)and actual headco|unt
(HC), was as|follows:|||
|---|---|---|---|---|---|
|||2022|2022|2021|2021|
|||FTE|HC|FTE|HC|
|||No.|No.|No.|No.|
|Teaching and|related staff|5|5|6|6|
|Administration|staff|1|1|1|1|
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|TANGIBLE FIXEDA|SSETS|||||||
|---|---|---|---|---|---|---|---|
||||||Freehold|Fixtures &||
||||||property|Fittings|Total|
||||||8|8||
|COST||||||||
|At 1 September
2021|||||455,000|20,058|485,058|
|Additions||||||||
|At 31August 2022|||||465,000|20,058|485,058|
|DEPRECIATION||||||||
|At 1 September 2021|||||54,405|18,416|72,821|
|Charge for the year|||||9,300|1,474|10,774|
|Eliminated
on disposals||||||||
|At 31August 2022|||||JLLZK||JQJiSi|
|NET BOOK VALUE||||||||
|At 31August 2022|||||401,295|168|401,463|
|At 31 August 2021|||||410,595|1,542|412,237|
|INVESTMENTS||||||||
|Movement
In market|value|||||||
|||||||2022|2021|
|||||||6||
|Market value at 1 September||2021||||6,612,962|5,450,298|
|Acquisitions
at cost||||||793,020|1,892,390|
|Disposals at carrying|value|||||(477,348)|(1,257,291)|
|(Losses) Igains on revaluation||||||(1,179,648)|527,555|
|Market value at 31August 2022||||||5,748,988|6,612,952|
|All investments
above|are held at market valuation.|||||||
|Analysis ofinvestments|at 31August||2022 between||funds|||
|||||||Total|Total|
|Unrestricted|||Restricted|Endowment||Funds|Funds|
||Funds||Funds||Funds|2022|2021|
|||B|8||6|8||
|Listed investments||||||||
|UK Quoted fixed||||||||
|interest Securities|5,708,823||3,847||36,516|5,748,986|6,612,962|
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|DEBTORS|||||
|---|---|---|---|---|
||||2022
E|2021f|
|Trade debtors|||8,933|9,981|
|Loans to Luther King House Educational||Trust|213331|213,331|
|Prepayments|and Accrued Income||8,498|59,403|
||||228,761|282,715|
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|CREDIT|ORS: Amount|s
falling due within one|year||
|---|---|---|---|---|
||||2022f|2021f|
|Taxation|and social security||6,403|5,139|
|Accruals|and deferred|income|16,433|13,207|
|Pension|liability||5,512||
||||27,348|18,346|
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|ENDOWMENT
FUND|S||||
|---|---|---|---|---|
||Balance at||Gains and|Balance at|
||1 Sep 2021|Transfers|(losses)|31Aug 2022|
||E||E|E|
|Permanent|||||
|endowments|||||
|Bursary Fund|250,518||(2,408)|248,110|
|Prize Fund|11,120||(107)|11,013|
|Library Fund|60,727||(584)|60,143|
||322,365||(3,099)|319,266|
||Balance at||Gains and|Balance at|
||1 Sep 2020
E|Transfers|(losses)
E|31Aug 2021
f|
|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|
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||||||Outgoing||||
|---|---|---|---|---|---|---|---|---|
|||Balance at||Incoming|resources|Gains, losses||Balance at|
|||1|Sep 2021
f|resources
6|and transfers||and transfers
6|31 Aug 2022
6|
|Bursary|Fund||29,383|1,095|(7,210)||(282)|22,986|
|Prize Fund||||44|(500)|||(466)|
|Library|Fund||2,813|249|||(28)|3,034|
||||32,196|1,388|(7,710)||(310)|26,664|
||||||Outgoing||||
|||Balance at||Incoming|resources|Gains, losses||Balance at|
|||1|Sep 2020|resources|and transfers||and transfers|31 Aug 2021|
||||6|6|||6||
|Bursary|Fund||34,098|1,401|(6,660)||544|28,383|
|Prize Fund||||55|(400)||345||
|Library|Fund||2,463|311|||39|2,813|
||||36,561|1,767|(7,060)||928|32,196|
|UNRES|TRICTED|INCOME FUNDS|||||||
||||||Outgoing||Gains,||
|||Balance at||Incoming|resources||(losses) and|Balance at|
|||1|Sep 2021|resources|and transfers||transfers|31 Aug 2022|
|||||6|8||6|6|
|General|Funds||7,372,157|487,372|(560,473)||(816,434)|6,482,622|
||||||Outgoing||||
|||Balance at||Incoming|resources||Gains, losses|Balance at|
|||1|Sep 2020
6|resources
f|and transfers
6||and transfers
f|31 Aug 2021
f|
|General|Funds||6,329,654|478,495|(530,148)||1,094,156|7,372,167|
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|ANALYSIS OF NET ASS|ETS BETWEEN F|UNDS|||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|31Aug 2022|
||funds|funds|funds|Total|
||F|6|6|6|
|Tangible fixed assets|401,463|||401,463|
|Investments|5,708,823|3,647|36,516|5,748,986|
|Net current assets|372,336|21,917|282,750|677,003|
||6,482,622|25,564|319,266|6,827,452|
||Unrestricted|Restricted|Endowment|31Aug 2021|
||funds
6|funds
f|funds
6|Total|
|Tangible fixed assets|412,237|||412,237|
|Investments|6,562,126|5,252|45,584|6,612,962|
|Net current assets|397,794|26,944|276,781|701,519|
||7,372,157|32,196|322,365|7,726,718|
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|||||||At 1 Sept|||At 31Aug|
|---|---|---|---|---|---|---|---|---|---|
|||||||2021
f|Cash|gows
f|2022
f:|
|Cash|at|bank|and|in|hand|437 150|38440||476.590|
|||||||At 1 Sept|||At 31Aug|
|||||||2020
f|Gas|hflows|2021|
|Cash|at|bank|and|in|hand|661 804|~224 654||437 150|